<SEC-DOCUMENT>0000891804-12-000055.txt : 20120106
<SEC-HEADER>0000891804-12-000055.hdr.sgml : 20120106
<ACCEPTANCE-DATETIME>20120106164655
ACCESSION NUMBER:		0000891804-12-000055
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20111031
FILED AS OF DATE:		20120106
DATE AS OF CHANGE:		20120106
EFFECTIVENESS DATE:		20120106

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN MUNICIPAL INCOME FUND INC
		CENTRAL INDEX KEY:			0000830271
		IRS NUMBER:				363566347
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05488
		FILM NUMBER:		12515128

	BUSINESS ADDRESS:	
		STREET 1:		333 W WACKER DR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178200
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSR
<SEQUENCE>1
<FILENAME>nmi.htm
<DESCRIPTION>NMI
<TEXT>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNITED STATES</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Washington, D.C. 20549</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CERTIFIED SHAREHOLDER REPORT OF</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">REGISTERED MANAGEMENT INVESTMENT COMPANIES</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Investment Company Act file number <font style="TEXT-DECORATION: underline">811-05488</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Nuveen Municipal Income Fund, Inc.</font></font></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Exact name of registrant as specified in charter)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Nuveen Investments</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">333 West Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Chicago, IL 60606</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Address of principal executive offices) (Zip code)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Kevin J. McCarthy</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Nuveen Investments</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">333 West Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Chicago, IL 60606</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Name and address of agent for service)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Registrant's telephone number, including area code: <font style="DISPLAY: inline; TEXT-DECORATION: underline">(312) 917-7700</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of fiscal year end:&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">October 31</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of reporting period: <font style="DISPLAY: inline; TEXT-DECORATION: underline">October 31, 2011</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (&#8220;OMB&#8221;) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 1. REPORTS TO STOCKHOLDERS.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 14pt; FONT-WEIGHT: normal">LIFE IS COMPLEX.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen makes things e-simple.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">It only takes a minute to sign up for e-Reports. Once enrolled, you&#8217;ll receive an e-mail as soon as your Nuveen Fund information is ready. No more waiting for delivery by regular mail. Just click on the link within the e-mail to see the report and save it on your computer if you wish.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Free e-Reports right to your e-mail!</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">www.investordelivery.com</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">If you receive your Nuveen Fund dividends and statements from your financial advisor or brokerage account.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">www.nuveen.com/accountaccess</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">If you receive your Nuveen Fund dividends and statements directly from Nuveen.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chairman&#8217;s Letter to Shareholders</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Portfolio Managers&#8217; Comments</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Fund Leverage and Other Information</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Dividend and Share Price Information</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Performance Overviews</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shareholder Meeting Report</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Report of Independent Registered Public Accounting Firm</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Portfolios of Investments</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Statement of Assets and Liabilities</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">54</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Statement of Operations</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">55</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Statement of Changes in Net Assets</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">56</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Financial Highlights</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">58</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">These are perplexing times for investors. The global economy continues to struggle. The solutions being implemented in the eurozone to deal with the debt crises of many of its member countries are not yet seen as sufficient by the financial markets. The political paralysis in the U.S. has prevented the compromises necessary to deal with the fiscal imbalance and government spending priorities. The efforts by individual consumers, governments and financial institutions to reduce their debts are increasing savings but reducing demand for the goods and services that drive employment. These developments are undermining the rebuilding of confidence by consumers, corporations and investors that is so essential to a resumption of economic growth.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Although it is painfully slow, progress is being made. In Europe, the turnover of a number of national governments reflects the realization by politicians and voters alike that leaders who practiced business as usual had to be replaced by leaders willing to face problems and accept the hard choices needed to resolve them. The recent coordinated efforts by central banks in the U.S. and Europe to provide liquidity to the largest European banks indicates that these monetary authorities are committed to facilitating a recovery in the European banking sector.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In the U.S., the failure of the congressionally appointed Debt Reduction Committee was a blow to those who hoped for a bipartisan effort to finally begin addressing the looming fiscal crisis. Nevertheless, Congress and the administration cannot ignore the issue for long. The Bush era tax cuts are scheduled to expire on December 31, 2012, and six months later the $1.2 trillion of mandatory across-the-board spending cuts under the Budget Control Act of 2011 begin to go into effect. Any legislative modification would require bipartisan support and the prospects for a bipartisan solution are unclear. The impact of these two developments would be a mixed blessing: a meaningful reduction in the annual budget deficit at the cost of slowing the economic recovery.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">It is in these particularly volatile markets that professional investment management is most important. Skillful investment teams who have experienced challenging markets and remain committed to their investment disciplines are critical to the success of an investor&#8217;s long-term objectives. In fact, many long-term investment track records are built during challenging markets when managers are able to protect investors against these economic crosscurrents. Experienced investment teams know that volatile markets put a premium on companies and investment ideas that will weather the short-term volatility and that compelling values and opportunities are opened up when markets overreact to negative developments. By maintaining appropriate time horizons, diversification and relying on practiced investment teams, we believe that investors can achieve their long-term investment objectives.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">As always, I encourage you to contact your financial consultant if you have any questions about your investment in a Nuveen Fund. On behalf of the other members of your Fund Board, we look forward to continuing to earn your trust in the months and years ahead.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Sincerely,</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Robert P. Bremner</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">December 21, 2011</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Portfolio managers Tom Spalding, Chris Drahn and Steve Hlavin review U.S. economic and municipal market conditions, key investment strategies and the twelve-month performance of these four national Funds. With 34 years of investment experience at Nuveen, Tom has managed NUV since its inception in 1987, adding NUW at its inception in 2009. Chris, who has 31 years of financial industry experience, assumed portfolio management responsibility for NMI in January 2011. An eight-year veteran of Nuveen, Steve has been involved in the management of NEV since its inception in 2009, taking on full portfolio management responsibility for this Fund in December 2010.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During this period, the U.S. economy&#8217;s recovery from recession remained slow. The Federal Reserve (Fed) maintained its efforts to improve the overall economic environment by continuing to hold the benchmark fed funds rate at the record low level of zero to 0.25% that it had established in December 2008. At its November 2011 meeting (shortly after the end of this reporting period), the central bank reaffirmed its opinion that economic conditions would likely warrant keeping this rate at &#8220;exceptionally low levels&#8221; at least through mid-2013. The Fed also said that it would continue its program to extend the average maturity of U.S Treasury holdings by purchasing $400 billion of these securities with maturities of six to thirty years and selling an equal amount of U.S. Treasury securities with maturities of three years or less. The goals of this program, which the Fed expects to complete by the end of June 2012, are to lower longer-term interest rates, support a stronger economic recovery, and help ensure that inflation remains at levels consistent with the Fed&#8217;s mandates of maximum employment and price stability.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In the third quarter of 2011, the U.S. economy, as measured by the U.S. gross domestic product (GDP), grew at an annualized rate of 2.0%, the best growth number since the fourth quarter of 2010 and the ninth consecutive quarter of positive growth. The Consumer Price Index (CPI) rose 3.5% year-over-year as of October 2011, while the core CPI (which excludes food and energy) increased 2.1%, edging just above the Fed&#8217;s unofficial objective of 2.0% or lower for this inflation measure. Unemployment numbers remained high, as October 2011</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The forward-looking statements and other views expressed herein are those of the portfolio managers as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">marked the seventh straight month with a national jobless number of 9.0% or higher. While the dip was a step in the right direction, it was partly due to a number of individuals dropping out of the hunt for work. The housing market also continued to be a major weak spot. For the twelve months ended September 2011 (the most recent data available at the time this report was prepared), the average home price in the Standard &amp; Poor&#8217;s/Case-Shiller Index lost 3.6% over the preceding twelve months, with 18 of the 20 major metropolitan areas reporting losses. In addition, the U.S. economic picture continued to be clouded by concerns about the European debt crisis and unsuccessful efforts to reduce the federal deficit, which led to S&amp;P&#8217;s downgrade of U.S. Treasury debt from AAA to AA+ in August 2011.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Municipal bond prices ended this period generally unchanged versus the beginning of this reporting period masking a sell-off that commenced in the fourth quarter of 2010 as the result of investor concerns about inflation, the federal deficit, and its impact on demand for U.S. Treasuries. Adding to this situation was media coverage of the strained finances of many state and local governments, which failed to differentiate between gaps in these governments&#8217; operating budgets and their ability to meet their debt service obligations. (We should note that defaults and bankruptcies continue to be rare in the municipal market.) As a result, money flowed out of municipal mutual funds, yields rose, and valuations declined. As we moved into the second quarter of 2011, we saw the environment in the municipal market improve, as crossover buyers&#8212;including hedge funds and life insurance companies&#8212;were attracted by municipal bond prices and tax-exempt yields.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the second part of this reporting period (i.e., May-October 2011), municipal bond prices generally rallied as yields declined across the municipal curve. The decline in yields was due in part to the continued depressed level of municipal bond issuance. Tax-exempt volume, which had been limited in 2010 by issuers&#8217; extensive use of taxable Build America Bonds (BABs), continued to drift lower in 2011. Even though BABs were no longer an option for issuers (the BAB program expired at the end of 2010), some borrowers had accelerated issuance into 2010 in order to take advantage of the program&#8217;s favorable terms before its termination, fulfilling their capital program borrowing needs well into 2012. This reduced the need for many borrowers to come to market with new issues during this period. Over the twelve months ended October 31, 2011, municipal bond issuance nationwide totaled $320.2 billion, a decrease of 23% compared with the issuance of the twelve-month period ended October 31, 2010. During the majority of this period, demand for municipal bonds remained very strong.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In an environment characterized by tighter municipal supply and relatively lower yields, we continued to take a bottom-up approach to discovering sectors and individual credits that we believed were undervalued and that had potential to perform well over the long term. During this period, NUV, NUW and NMI found value in a variety of sectors. For</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">example, NMI purchased health care and higher education bonds and took advantage of attractive valuation levels to add some tobacco credits. NMI also bought California redevelopment agency (RDA) bonds, which fund programs to improve economically depressed areas in the state. We remained very selective in our purchases in this area, evaluating bonds on a case by case basis and buying only those where our research indicated that we potentially would be compensated for taking on additional risk. In general, these three Funds focused on purchasing bonds with longer maturities in order to capitalize on opportunities to add more attractive yields at the longer end of the municipal yield curve. The purchase of longer bonds also helped maintain the Funds&#8217; duration (price sensitivity to interest rate movements) and yield curve positioning and enhanced call protection.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In NUV, NUW and NMI, cash for new purchases during this period was generated primarily by the proceeds from called and maturing bonds, which we worked to redeploy to keep the Funds fully invested. In NUV and NMI, in particular, bond calls provided a good source of liquidity. NMI also sold some bonds with short call dates as well as an industrial development revenue (IDR) bond to generate additional cash, which enabled the Fund to take advantage of attractive purchase candidates as they became available in the market. On the whole, however, selling in these three Funds was relatively limited, as the bonds in our portfolios generally offered higher yields than those available in the current marketplace.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In NEV, we continued to work to improve the Fund&#8217;s yield and reduce its duration, bringing it more in line with its target. This period provided a unique opportunity to continue repositioning NEV and enhance its structure for the long term. As part of this, we executed a specific trading strategy that involved selling NEV&#8217;s longer holdings with lower coupons and lower embedded yields and reinvesting the proceeds into bonds with shorter durations, higher coupons, and better yields. We also sold some of NEV&#8217;s holdings of IDR bonds, which drew attractive bids from crossover buyers in early 2011, and diversified the Fund by reinvesting these proceeds into other sectors, specifically higher education and California RDA bonds, many of which were purchased in the secondary market. As a result of this activity, we enhanced NEV&#8217;s yield curve positioning and maturity, average coupon, and embedded yield, which supports the Fund&#8217;s dividend. Although this activity had the result of limiting NEV&#8217;s upside potential in the short term, we believe it has enhanced the Fund&#8217;s positioning and risk profile for the long term.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">As of October 31, 2011, all of these Funds continued to use inverse floating rate securities. We employ inverse floaters for a variety of reasons, including duration management, income and total return enhancement, and&#8212;in NEV&#8212;as a form of leverage. During this period, NEV also invested in additional types of derivative instruments such as forward interest rates swaps, which are designed to help shorten its duration. During this period, we added to NEV&#8217;s derivative positions, all of which remained in place at period end.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">How did the Funds perform?</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Individual results for these Funds, as well as relevant index and peer group information, are presented in the accompanying table.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average Annual Total Returns on Net Asset Value</font></div>

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<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1-Year</font></div>
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<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5-Year</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10-Year</font></div>
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<td align="left" valign="bottom" width="60%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUV</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.53</font></div>
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<td align="left" valign="bottom" width="1%">
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.65</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.73</font></div>
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<td align="left" valign="bottom" width="60%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUW</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.61</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/A</font></div>
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<td align="right" colspan="2" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/A</font></div>
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<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NMI</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.73</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.72</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.12</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
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<td valign="bottom" width="60%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="bottom" width="60%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Standard &amp; Poor&#8217;s (S&amp;P) National Municipal Bond Index**</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.75</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.48</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.95</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="60%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Lipper General and Insured Unleveraged Municipal Debt Funds Classification Average**</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.44</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.56</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.26</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="60%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="60%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NEV*</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.28</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/A</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/A</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="60%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="60%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Standard &amp; Poor&#8217;s (S&amp;P) National Municipal Bond Index**</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.75</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.48</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.95</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Lipper General and Insured Leveraged Municipal Debt Funds Classification Average**</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.80</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.20</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.59</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">For the twelve months ended October 31, 2011, the total return on net asset value (NAV) for NMI exceeded the return on the Standard &amp; Poor&#8217;s (S&amp;P) National Municipal Bond Index. NUW and NUV trailed this index by a small margin. All three of these Funds outperformed the average return for the Lipper General and Insured Unleveraged Municipal Debt Funds Classification Average. For this same period, NEV underper-formed the S&amp;P National Municipal Bond Index and the Lipper General and Insured Leveraged Municipal Debt Funds Classification Average.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Key management factors that influenced the Funds&#8217; returns during this period included duration and yield curve positioning, the use of derivatives, credit exposure and sector allocation. In addition, NEV&#8217;s use of leverage was an important positive factor in its performance. The impact of leverage is discussed in more detail later in this report.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During this period, municipal bonds with intermediate and longer maturities tended to outperform the short maturity categories, with credits having maturities of seven years and longer generally outpacing the market. In general, the greater a Fund&#8217;s exposure to the outperforming intermediate and longer part of the yield curve, the greater the positive impact on the Fund&#8217;s return. Both NUW and NEV had the longer durations typically associated with newer Funds that have been recently invested. While this was positive for NUW&#8217;s performance, NEV&#8217;s use of forward interest rate swaps to reduce portfolio</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="95%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay on Fund distributions or upon the sale of Fund shares.</font></div>
</td>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="95%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For additional information, see the individual Performance Overview for your Fund in this report.</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="95%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NEV is a leveraged Fund through investments in inverse floating rate securities, as discussed on page seven and nine. The other three Funds in this report are unlever-aged and use inverse floating rate securities for duration management and both income and total return enhancement.</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="95%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">**</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Refer to Glossary of Terms Used in this Report for definitions.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">duration and moderate interest rate risk had a negative impact on NEV&#8217;s total return performance, as these derivatives performed poorly during this period. As previously described, NEV also sold bonds with longer durations as part of its restructuring during this period in order to buy bonds that would better position the Fund for the long term. This also contributed to NEV&#8217;s underperformance for this period.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Credit exposure also played a role in performance during these twelve months, as bonds rated A and AA typically outperformed the other credit quality categories. On the whole, bonds with higher levels of credit risk were not favored by the market during this period. The performance of the BBB category, in particular, was dragged down by poor returns in the tobacco bond sector. While NMI was overweighted in bonds rated BBB, many of the Fund&#8217;s BBB holdings were IDR bonds with intermediate maturities, and the Fund&#8217;s selection of individual securities in lower-rated credit categories generally performed well. NUW was overweighted in bonds rated A, which helped its performance. Overall, credit exposure was negative in NEV, due largely to the underperformance of its 2% exposure to bonds issued for an American Airlines project at Chicago&#8217;s O&#8217;Hare International Airport. On November 29, 2011, after the close of this reporting period, American Airlines filed for bankruptcy protection.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Holdings that generally made positive contributions to the Funds&#8217; returns during this period included zero coupon bonds and housing, water and sewer and health care credits. General obligation and other tax-supported bonds also generally outpaced the overall municipal market return. All of these Funds, particularly NUW, had good exposure to the health care sector, which added to their performance. However, they tended to be somewhat underweighted in general obligation bonds, which limited their participation in the performance of this sector. NEV also received a positive contribution from its sector allocations, specifically single-family housing, higher education, and California RDA bonds. On the whole, some of the best performing bonds in the Funds&#8217; portfolios for this period were those purchased during the earlier part of this period before the market rallied, when yields were relatively higher and prices especially attractive.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In contrast, pre-refunded bonds, which are often backed by U.S. Treasury securities, were among the poorest performing market segments during this period. The under-performance of these bonds can be attributed primarily to their shorter effective maturities and higher credit quality. Although their exposure to pre-refunded bonds fell over this reporting period due to bond calls and sales, NUV continued to hold a slightly heavier weighting of pre-refunded bonds than NMI. As relatively new Funds, NUW held a negligible amount of pre-refunded bonds, while NEV did not hold any of these bonds as of period end.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt; FONT-WEIGHT: normal">Fund Leverage and</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt; FONT-WEIGHT: normal">Other Information</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">IMPACT OF LEVERAGE STRATEGY ON NEV&#8217;S PERFORMANCE</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">One important factor impacting the return of NEV relative to the comparative indexes was the Fund&#8217;s use of effective leverage through investments in inverse floating rate securities. This Fund uses leverage because its manager believes that, over time, leveraging provides opportunities for additional income and total return for shareholders. However, use of leverage also can expose shareholders to additional volatility. For example, during periods when the prices of securities held by a Fund generally are declining, the negative impact of these valuation changes on net asset value and total return is magnified by the use of leverage. Conversely, leverage may enhance common share returns during periods when securities held by a Fund are generally rising. Leverage made positive contribution to the performance of NEV over this report period.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">RISK CONSIDERATIONS</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Past performance is no guarantee of future results. Fund common shares are subject to a variety of risks, including:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Investment Risk. </font>The possible loss of the entire principal amount that you invest.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Price Risk. </font>Shares of closed-end investment companies like these Funds frequently trade at a discount to their NAV. Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Leverage Risk. </font>NEV&#8217;s use of leverage creates the possibility of higher volatility for the Fund&#8217;s per share NAV, market price, distributions and returns. There is no assurance that NEV&#8217;s leveraging strategy will be successful.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Tax Risk. </font>The tax treatment of Fund distributions may be affected by new IRS interpretations of the Internal Revenue Code and future changes in tax laws and regulations.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Issuer Credit Risk. </font>This is the risk that a security in a Fund&#8217;s portfolio will fail to make dividend or interest payments when due.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Interest Rate Risk. </font>Fixed-income securities such as bonds, preferred, convertible and other debt securities will decline in value if market interest rates rise.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Reinvestment Risk. </font>If market interest rates decline, income earned from a Fund&#8217;sportfolio may be reinvested at rates below that of the original bond that generated the income.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Call Risk or Prepayment Risk. </font>Issuers may exercise their option to prepay principal earlier than scheduled, forcing a Fund to reinvest in lower-yielding securities.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt; FONT-WEIGHT: normal">Dividend and</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the twelve-month reporting period ended October 31, 2011, NEV had one monthly dividend increase, while the monthly dividends of NUV, NUW and NMI remained stable throughout the period.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Due to normal portfolio activity, shareholders of the following Funds received capital gains and/or net ordinary income distributions at the end of December 2010 as follows:</font></div>

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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Long-Term Capital Gains <br>
(per share</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Short-Term Capital Gains <br>
and/or Ordinary Income <br>
(per share</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="43%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUV</font></div>
</td>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="22%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.0210</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.0007</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUW</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="22%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.0193</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.0028</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">All of the Funds in this report seek to pay stable dividends at rates that reflect each Fund&#8217;s past results and projected future performance. During certain periods, each Fund may pay dividends at a rate that may be more or less than the amount of net investment income actually earned by the Fund during the period. If a Fund has cumulatively earned more than it has paid in dividends, it holds the excess in reserve as undistributed net investment income (UNII) as part of the Fund&#8217;s NAV. Conversely, if a Fund has cumulatively paid dividends in excess of its earnings, the excess constitutes negative UNII that is likewise reflected in the Fund&#8217;s NAV. Each Fund will, over time, pay all of its net investment income as dividends to shareholders. As of October 31, 2011, all four funds in this report had positive UNII balances for both tax and financial reporting purposes.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SHARE REPURCHASES AND PRICE INFORMATION</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Since the inception of the Funds&#8217; repurchase programs, the Funds&#8217; have not repurchased any of their outstanding shares.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">As of October 31, 2011, the Funds&#8217; share prices were trading at (+) premiums or (-) discounts to their NAVs as shown in the accompanying table.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="49%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(+)Premium/(-) Discount</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="17%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">12-Month Average</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(-)Discount</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="49%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUV</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(+)0.10%</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(-)1.13</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="49%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUW</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(+)3.58%</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(-)0.06</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="49%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NMI</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(+)3.53%</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(-)0.97</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="49%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NEV</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(-)1.93%</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(-)3.21</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SHELF EQUITY PROGRAM</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">On December 8, 2010, a registration statement filed by NUV with the Securities and Exchange Commission (SEC) became effective authorizing the Fund to issue an additional 19.6 million shares through a shelf offering. Under this shelf offering program, the Fund, subject to market conditions, may raise additional equity capital from time to time in varying amounts and offering methods at a net price at or above the Fund&#8217;s NAV per share.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the twelve-month reporting period, NUV sold shares through its shelf offering program at a weighted average premium to NAV per share as shown in the accompanying table.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="51%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shares Sold through <br>
Shelf Offering</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="16%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Weighted Average <br>
Premium to NAV <br>
Per Share Sold</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="51%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUV</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">253,486</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="16%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.15</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NUV</font></div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Municipal</font></div>
</td>
</tr><tr>
<td valign="top" width="15%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Performance</font></font></div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value Fund, Inc.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">OVERVIEW</font></font></div>
</div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="82%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="TEXT-ALIGN: left; BORDER-LEFT: medium none"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">as of October 31, 2011</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><img src="nuv.jpg"></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="74%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund Snapshot</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Share Price</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.66</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Asset Value (NAV)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.65</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Premium/(Discount) to NAV</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.10</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Market Yield</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.84</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Taxable-Equivalent Yield<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font></font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.72</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Assets ($000)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,915,231</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Average Annual Total Return</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">(Inception 6/17/87)</font><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On Share Price</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On NAV</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1-Year</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.61<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.53</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5-Year</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.18<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.65</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10-Year</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.68<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.73</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">States<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3</font></font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(as a % of total investments)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.6</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Florida</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.7</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Missouri</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ohio</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.7</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">South Carolina</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pennsylvania</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="74%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio Composition<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3</font></font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(as a % of total investments)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Health Care</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tax Obligation/Limited</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">U.S. Guaranteed</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14.6</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Transportation</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tax Obligation/General</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.0</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Consumer Staples</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.0</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Utilities</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.1</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
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<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.1</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund&#8217;s Performance Overview page.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.</font></div>
</td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.</font></div>
</td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Holdings are subject to change.</font></div>
</td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Fund paid shareholders capital gains and net ordinary income distributions in December 2010 of $0.0217 per share.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td align="right" valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13</font></div>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NUW</font></div>
</td>
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<td align="left" valign="top" width="72%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Municipal</font></div>
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<td valign="top" width="13%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Performance</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value Fund 2</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">as of October 31, 2011</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><img src="nuw.jpg"></div>

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<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund Snapshot</font></div>
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</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Share Price</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17.06</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Asset Value (NAV)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16.47</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Premium/(Discount) to NAV</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.58</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Market Yield</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.28</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Taxable-Equivalent Yield<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font></font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.33</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Assets ($000)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">212,873</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Leverage</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Structural Leverage</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Effective Leverage</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.00</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average Annual Total Return</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">(Inception 2/25/09)</font><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On Share Price</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On NAV</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1-Year</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.93<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.61</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Since Inception</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.86<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.27</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">States<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3</font></font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(as a % of total investments)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Florida</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8.6</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.6</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ohio</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nevada</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Arizona</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rhode Island</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14.6</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="74%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio Composition<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3</font></font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(as a % of total investments)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Health Care</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tax Obligation/Limited</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Transportation</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12.7</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Utilities</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.0</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tax Obligation/General</font></div>
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<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8.9</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Consumer Staples</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.6</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
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</td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Water and Sewer</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.8</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.7</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund&#8217;s Performance Overview page.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.</font></div>
</td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Holdings are subject to change.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Fund paid shareholders capital gains and net ordinary income distributions in December 2010 of $0.0221 per share.</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<br>
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<hr style="COLOR: black" noshade size="2">
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NMI</font></div>
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<td align="left" valign="top" width="72%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Municipal</font></div>
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<td valign="top" width="13%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Performance</font></font></div>
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<td align="left" valign="top" width="72%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income Fund, Inc.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">OVERVIEW</font></font></div>
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<td valign="top" width="4%" style="TEXT-ALIGN: left; BORDER-LEFT: medium none"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">as of October 31, 2011</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><img src="nmi.jpg"></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<td valign="bottom" width="74%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund Snapshot</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Share Price</font></div>
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<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.13</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Asset Value (NAV)</font></div>
</td>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.75</font></div>
</td>
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</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Premium/(Discount) to NAV</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.53</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Market Yield</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.12</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Taxable-Equivalent Yield<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font></font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.11</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Assets ($000)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">88,488</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Average Annual Total Return</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">(Inception 4/20/88)</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On Share Price</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On NAV</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1-Year</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.62<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.73</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5-Year</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.53<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.72</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10-Year</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.69<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.12</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">States<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3</font></font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(as a % of total investments)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18.7</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Missouri</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Florida</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.6</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tennessee</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Virginia</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Kentucky</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maryland</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Alabama</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ohio</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">South Carolina</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="74%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio Composition<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3</font></font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(as a % of total investments)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Health Care</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tax Obligation/Limited</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Utilities</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">U.S. Guaranteed</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.6</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Education and Civic Organizations</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tax Obligation/General</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.7</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Water and Sewer</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.0</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Consumer Staples</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Materials</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
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<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund&#8217;s Performance Overview page.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, this Taxable-Equivalent Yield is lower.</font></div>
</td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Holdings are subject to change.</font></div>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15</font></div>
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<hr style="COLOR: black" noshade size="2">
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<td valign="top" width="13%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NEV</font></div>
</td>
<td valign="top" width="4%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160; </font></td>
<td align="left" valign="top" width="72%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Enhanced</font></div>
</td>
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<td valign="top" width="13%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Performance</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value Fund</font></div>
</td>
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<td align="left" valign="top" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">OVERVIEW</font></font></div>
</div>
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<td valign="top" width="4%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="72%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="TEXT-ALIGN: left; BORDER-LEFT: medium none"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">as of October 31, 2011</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><img src="nev.jpg"></div>

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<tr>
<td valign="bottom" width="74%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund Snapshot</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Share Price</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13.70</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Asset Value (NAV)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13.97</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Premium/(Discount) to NAV</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">-1.93</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Market Yield</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.01</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Taxable-Equivalent Yield<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font></font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.74</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Assets ($000)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">269,050</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Leverage</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Structural Leverage</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Effective Leverage</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">39.34</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Average Annual Total Return</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">(Inception 9/25/09)</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On Share Price</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On NAV</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1-Year</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.02<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.28</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="60%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Since Inception</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.15<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></font></div>
</td>
<td align="left" valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.26</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">States<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3,4</font></font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(as a % of total investments)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Georgia</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.7</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Florida</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ohio</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.4</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.0</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pennsylvania</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Arizona</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.0</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.9</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nebraska</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14.8</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="74%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio Composition<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3,4</font></font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(as a % of total investments)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tax Obligation/Limited</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21.2</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Health Care</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Transportation</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14.7</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tax Obligation/General</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13.3</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Education and Civic Organizations</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.1</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Consumer Staples</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Long-Term Care</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.5</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14.6</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this Fund&#8217;s Performance Overview page.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1</font></div>
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<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Taxable-Equivalent Yield represents the yield that must be earned on a fully taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a federal income tax rate of 28%. When comparing this Fund to investments that generate qualified dividend income, the Taxable-Equivalent Yield is lower.</font></div>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratings shown are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or Fitch, Inc. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. Holdings designated N/R are not rated by a national rating agency.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Holdings are subject to change</font></div>
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<td align="left" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4</font></td>
<td align="left" valign="top" width="95%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Excluding investments in derivatives.</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td rowspan="2" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUV</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NUW</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NMI</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">NEV</font></div>
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<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shareholder Meeting Report</font></div>
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<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The annual meeting of shareholders was held on July 25, 2011 in the Lobby Conference Room, 333 West Wacker Drive, Chicago, IL 60606; at this meeting the shareholders were asked to vote on the election of Board Members, the elimination of Fundamental Investment Policies and the approval of new Fundamental Investment Policies. The meeting for NMI was subsequently adjourned to August 31, 2011.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<td valign="bottom" width="39%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NUV</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NUW</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NMI</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NEV</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Common Shares</font></div>
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<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Common Shares</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Common Shares</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Common Shares</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Approval of the Board Members was reached as follows:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">John P. Amboian</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">155,012,316</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,586,491</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,019,608</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,381,700</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Withhold</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,717,913</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">242,933</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">166,766</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">222,815</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">158,730,229</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,829,424</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,186,374</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,604,515</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">David J. Kundert</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">154,979,698</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,585,745</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,012,896</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,376,480</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Withhold</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,750,531</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">243,679</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">173,478</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">228,035</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">158,730,229</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,829,424</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,186,374</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,604,515</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Terence J. Toth</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">155,040,045</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,586,491</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,021,775</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,381,700</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Withhold</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,690,184</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">242,933</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">164,599</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">222,815</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">158,730,229</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,829,424</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,186,374</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,604,515</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">To approve the elimination of the Fund&#8217;s fundamental investment policy relating to the Fund&#8217;s ability to make loans</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,862,304</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Against</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">212,213</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Abstain</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">120,410</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Broker Non-Votes</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">991,447</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,186,374</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">To approve the new fundamental investment policy relating to the Fund&#8217;s ability to make loans</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,859,870</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
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<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Against</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">215,991</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
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<td align="left" valign="bottom" width="39%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Abstain</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
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</td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">119,065</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
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<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 1px solid">
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</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">991,448</font></div>
</td>
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<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
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</td>
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<td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total</font></div>
</td>
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<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
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</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,186,374</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17</font></div>
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<div id="FTR">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt; FONT-WEIGHT: normal">Report of Independent</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt; FONT-WEIGHT: normal">Registered Public Accounting Firm</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The Board of Directors/Trustees and Shareholders</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Municipal Value Fund, Inc.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Municipal Value Fund 2</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Municipal Income Fund, Inc.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Enhanced Municipal Value Fund</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of Nuveen Municipal Value Fund, Inc., Nuveen Municipal Value Fund 2, Nuveen Municipal Income Fund, Inc., and Nuveen Enhanced Municipal Value Fund (the &#8220;Funds&#8221;) as of October 31, 2011, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein. These financial statements and financial highlights are the responsibility of the Funds&#8217; management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">We conducted our audits in accordance with the Standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. We were not engaged to perform an audit of the Funds&#8217; internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Funds&#8217; internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements and financial highlights, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of October 31, 2011, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. We believe that our audits provide a reasonable basis for our opinion.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial positions of Nuveen Municipal Value Fund, Inc., Nuveen Municipal Value Fund 2, Nuveen Municipal Income Fund, Inc., and Nuveen Enhanced Municipal Value Fund at October 31, 2011, and the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the periods indicated therein in conformity with U.S. generally accepted accounting principles.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><img src="ernt.jpg"></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Chicago, Illinois</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">December 28, 2011</font></div>

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<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2011</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Alaska &#8211; 0.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,335</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005A, 5.000%, 12/01/30 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,399,699</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Alaska Housing Finance Corporation, General Housing Purpose Bonds, Series 2005B-2, 5.250%, 12/01/30 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,112,650</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Anchorage, Alaska, General Obligation Bonds, Series 2003B, 5.000%, 9/01/23 (Pre-refunded 9/01/13) &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,250,140</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/32</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,788,175</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,835</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Alaska</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,550,664</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Arizona &#8211; 0.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,400</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Arizona Health Facilities Authority, Hospital System Revenue Bonds, Phoenix Children&#8217;s Hospital, Series 2002A, 6.250%, 2/15/21 (Pre-refunded 2/15/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,438,458</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Phoenix Civic Improvement Corporation, Arizona, Senior Lien Airport Revenue Bonds, Series 2008A, 5.000%, 7/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,582,050</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,575</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Quechan Indian Tribe of the Fort Yuma Reservation, Arizona, Government Project Bonds, Series 2008, 7.000%, 12/01/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/17 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,393,128</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,600</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,079,032</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Scottsdale Industrial Development Authority, Arizona, Hospital Revenue Bonds, Scottsdale Healthcare, Series 2008A, 5.250%, 9/01/30</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,003,130</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,075</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Arizona</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,495,798</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Arkansas &#8211; 0.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">University of Arkansas, Fayetteville, Various Facilities Revenue Bonds, Series 2002, 5.000%, 12/01/32 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,022,740</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">California &#8211; 13.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Department of Water Resources, Power Supply Revenue Bonds, Series 2002A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.125%, 5/01/19 (Pre-refunded 5/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,346,200</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.250%, 5/01/20 (Pre-refunded 5/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,352,400</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanante System, Series 2006:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 4/01/37 &#8211; BHAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,075,950</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 4/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,877,120</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,335</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Series 2010A, 5.750%, 7/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,281,902</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,130</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Pollution Control Financing Authority, Revenue Bonds, Pacific Gas and Electric Company, Series 2004C, 4.750%, 12/01/23 &#8211; FGIC Insured (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,209,151</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California State Public Works Board, Lease Revenue Bonds, Department of Corrections, Series 2003C, 5.500%, 6/01/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,570,325</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California State, General Obligation Bonds, Series 2003:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,600</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.250%, 2/01/28</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,990,404</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 2/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,347,538</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California State, General Obligation Bonds, Various Purpose Series 2011, 5.000%, 10/01/41</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,001,700</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California State, Various Purpose General Obligation Bonds, Series 2007, 5.000%, 6/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,034,080</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,145</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Statewide Community Development Authority, Certificates of Participation, Internext Group, Series 1999, 5.375%, 4/01/17</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,145,640</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Statewide Community Development Authority, Revenue Bonds, Methodist Hospital Project, Series 2009, 6.750%, 2/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,981,915</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,600</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System, Series 2007A, 5.750%, 7/01/47 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,651,552</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Coast Community College District, Orange County, California, General Obligation Bonds, Series 2006C, 0.000%, 8/01/32 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,605,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
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<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19</font></div>
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund, Inc. (continued)</font></div>
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<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUV</font></div>
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<td valign="top" width="2%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">California </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,505</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Covina-Valley Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2003B, 0.000%, 6/01/28 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,601,482</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,045</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Desert Community College District, Riverside County, California, General Obligation Bonds, Election 2004 Series 2007C, 0.000%, 8/01/33 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 42.63</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,092,759</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">30,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series 1995A, 0.000%, 1/01/22 (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22,555,800</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21,150</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2003B, 5.000%, 6/01/38 (Pre-refunded 6/01/13) &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22,627,328</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,810</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 6/01/29 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,810,136</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,280</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 6/01/38 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,055,283</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 6/01/45</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,367,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,540</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2003A-1, 6.750%, 6/01/39 (Pre-refunded 6/01/13)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,884,796</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,060</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.500%, 6/01/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,476,152</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,870</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 6/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,560,785</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.125%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">976,800</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hemet Unified School District, Riverside County, California, General Obligation Bonds, Series 2008B, 5.125%, 8/01/37 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/16 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,660,515</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Los Angeles Regional Airports Improvement Corporation, California, Sublease Revenue Bonds, Los Angeles International Airport, American Airlines Inc. Terminal 4 Project, Series 2002C, 7.500%, 12/01/24 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,686,760</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Merced Union High School District, Merced County, California, General Obligation Bonds, Series 1999A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/23 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,320,600</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,555</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/24 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,252,563</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,365</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Montebello Unified School District, Los Angeles County, California, General Obligation Bonds, Series 2004, 0.000%, 8/01/27 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">901,964</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,550</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009C, 6.500%, 11/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,004,365</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,900</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ontario, California, Certificates of Participation, Water System Improvement Project, Refunding Series 2004, 5.000%, 7/01/29 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,980,948</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,350</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,407,082</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,730</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rancho Mirage Joint Powers Financing Authority, California, Certificates of Participation, Eisenhower Medical Center, Series 1997B, 4.875%, 7/01/22 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/15 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,733,849</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical Center, Series 2004, 5.625%, 7/01/34 (Pre-refunded 7/01/14)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,060,640</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,505</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Riverside Public Financing Authority, California, University Corridor Tax Allocation Bonds, Series 2007C, 5.000%, 8/01/37 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,900,315</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Bruno Park School District, San Mateo County, California, General Obligation Bonds, Series 2000B:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,575</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/24 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,315,130</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,660</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/25 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,268,767</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D, 7.000%, 8/01/41</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">263,348</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Refunding Bonds, Series 1997A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,165</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 1/15/25 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,797,775</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,605</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 1/15/35 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,053,609</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Jose, California, Airport Revenue Bonds, Series 2007A, 6.000%, 3/01/47 &#8211; AMBAC Insured (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,159,150</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,220</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Mateo County Community College District, California, General Obligation Bonds, Series 2006B, 0.000%, 9/01/28 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,534,553</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">California </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Mateo Union High School District, San Mateo County, California, General Obligation Bonds, Election of 2000, Series 2002B, 0.000%, 9/01/24 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,572,800</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed Bonds, Refunding Series 2005A-2, 5.400%, 6/01/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,689,120</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">University of California, General Revenue Bonds, Refunding Series 2009O, 5.250%, 5/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,397,396</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">344</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Yuba County Water Agency, California, Yuba River Development Revenue Bonds, Pacific Gas and Electric Company, Series 1966A, 4.000%, 3/01/16</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">338,995</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">326,894</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total California</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">265,780,342</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Colorado &#8211; 4.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/40 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,398,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 4.500%, 9/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,567,150</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,925</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Health Facilities Authority, Health Facilities Revenue Bonds, Sisters of Charity of Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,790,844</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,100</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Health Facilities Authority, Revenue Bonds, Catholic Health Initiatives, Series 2002A, 5.500%, 3/01/32 (Pre-refunded 3/02/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,137,149</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">750</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Health Facilities Authority, Revenue Bonds, Longmont United Hospital, Series 2006B, 5.000%, 12/01/23 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">745,935</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,700</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Health Facilities Authority, Revenue Bonds, Poudre Valley Health System, Series 2005C, 5.250%, 3/01/40 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/18 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,732,606</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">530</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Health Facilities Authority, Revenue Bonds, Vail Valley Medical Center, Series 2001, 5.750%, 1/15/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">531,367</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,915</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Denver, Colorado, Airport System Revenue Refunding Bonds, Series 2003B, 5.000%, 11/15/33 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,084,100</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24,200</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 9/01/31 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,284,256</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 9/01/32 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,099,550</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,600</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Refunding Series 2006B, 0.000%, 9/01/39 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/26 at 52.09</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,025,848</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 9/01/27 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/20 at 67.94</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,639,775</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,075</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 3/01/36 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/20 at 41.72</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,818,941</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ebert Metropolitan District, Colorado, Limited Tax General Obligation Bonds, Series 2007, 5.350%, 12/01/37 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,582,650</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Northwest Parkway Public Highway Authority, Colorado, Revenue Bonds, Senior Series 2001C, 5.700%, 6/15/21 (Pre-refunded 6/15/16) &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,287,020</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rangely Hospital District, Rio Blanco County, Colorado, General Obligation Bonds, Refunding Series 2011, 6.000%, 11/01/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,255,100</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,750</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Regional Transportation District, Colorado, Denver Transit Partners Eagle P3 Project Private Activity Bonds, Series 2010, 6.000%, 1/15/41</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,820,838</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">133,045</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Colorado</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">81,801,129</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Connecticut &#8211; 0.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford Healthcare, Series 2011A, 5.000%, 7/01/41</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,491,855</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,670</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mashantucket Western Pequot Tribe, Connecticut, Subordinate Special Revenue Bonds, Series 2007A, 5.750%, 9/01/34</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,189,866</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,170</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Connecticut</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,681,721</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">District of Columbia &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds, Senior Lien Refunding Series 2007A, 4.500%, 10/01/30 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,480,500</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund, Inc. (continued)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUV</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
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<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
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<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
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<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Florida &#8211; 5.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,083,760</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,285</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Escambia County Health Facilities Authority, Florida, Revenue Bonds, Ascension Health Credit Group, Series 2002C, 5.750%, 11/15/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,385,526</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Florida State Board of Education, Public Education Capital Outlay Bonds, Series 2005E, 4.500%, 6/01/35 (UB)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,022,200</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,650</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Tampa General Hospital, Series 2006, 5.250%, 10/01/41</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,528,895</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,690</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Jacksonville, Florida, Better Jacksonville Sales Tax Revenue Bonds, Series 2001, 5.000%, 10/01/30 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,690,962</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">JEA, Florida, Electric System Revenue Bonds, Series Three 2006A, 5.000%, 10/01/41 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,066,450</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Marion County Hospital District, Florida, Revenue Bonds, Munroe Regional Medical Center, Series 2007, 5.000%, 10/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,805,300</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,090</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Series 2010A, 5.000%, 7/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,134,172</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County Health Facility Authority, Florida, Hospital Revenue Bonds, Miami Children&#8217;s Hospital, Series 2010A, 6.000%, 8/01/46</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,670,145</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,093,760</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,340</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2010, 5.000%, 10/01/39 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,724,808</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Orange County School Board, Florida, Certificates of Participation, Series 2002A, 5.000%, 8/01/27 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,302,223</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,900</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Orange County, Florida, Tourist Development Tax Revenue Bonds, Series 2006, 5.000%, 10/01/31 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,947,212</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Port Saint Lucie, Florida, Special Assessment Revenue Bonds, Southwest Annexation District 1B, Series 2007, 5.000%, 7/01/40 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,486,320</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Seminole Tribe of Florida, Special Obligation Bonds, Series 2007A, 144A, 5.250%, 10/01/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,297,075</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,730</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System Obligation Group, Series 2007, 5.000%, 8/15/42 (UB)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,717,332</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">103,185</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Florida</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">102,956,140</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Georgia &#8211; 0.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,240</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 1999A, 5.000%, 11/01/38 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,241,434</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2001A, 5.000%, 11/01/33 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,504,825</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2004, 5.250%, 10/01/39 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,226,960</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,740</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Georgia</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,973,219</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Hawaii &#8211; 1.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,140</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company Inc., Series 1997A, 5.650%, 10/01/27 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,158,850</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,735</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Honolulu City and County, Hawaii, General Obligation Bonds, Series 2003A, 5.250%, 3/01/28 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,802,266</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,590</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Honolulu City and County, Hawaii, General Obligation Bonds, Series 2003A, 5.250%, 3/01/28 (Pre-refunded 3/01/13) &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1 (4)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,278,456</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,465</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Hawaii</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20,239,572</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Illinois &#8211; 13.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,060</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aurora, Illinois, Golf Course Revenue Bonds, Series 2000, 6.375%, 1/01/20</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,065,212</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,205</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago Board of Education, Illinois, Unlimited Tax General Obligation Bonds, Dedicated Tax Revenues, Series 1998B-1, 0.000%, 12/01/24 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,722,591</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago Housing Authority, Illinois, Revenue Bonds, Capital Fund Program, Series 2001, 5.375%, 7/01/18 (Pre-refunded 7/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,170,750</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22</font></div>
</td>
<td valign="top" width="1%" style="BORDER-TOP: medium none"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%" style="BORDER-TOP: medium none">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Illinois </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago Park District, Illinois, General Obligation Bonds, Limited Tax Series 2011A, 5.000%, 1/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,559,940</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">285</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, Illinois, General Obligation Bonds, Series 2002A, 5.625%, 1/01/39 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">286,810</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,715</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, Illinois, General Obligation Bonds, Series 2002A, 5.625%, 1/01/39 (Pre-refunded 7/01/12) &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,064,254</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,575</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, Illinois, Second Lien Passenger Facility Charge Revenue Bonds, O&#8217;Hare International Airport, Series 2001C, 5.100%, 1/01/26 &#8211; AMBAC Insured (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,575,876</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,825</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, Illinois, Third Lien General Airport Revenue Bonds, O&#8217;Hare International Airport, Series 2003C-2, 5.250%, 1/01/30 &#8211; AGM Insured (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,830,226</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,320</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cook and DuPage Counties Combined School District 113A Lemont, Illinois, General Obligation Bonds, Series 2002, 0.000%, 12/01/20 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,982,438</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,020</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cook County High School District 209, Proviso Township, Illinois, General Obligation Bonds, Series 2004, 5.000%, 12/01/19 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,214,277</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,875</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,174,798</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,260</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cook County, Illinois, Recovery Zone Facility Revenue Bonds, Navistar International Corporation Project, Series 2010, 6.500%, 10/15/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,377,947</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">385</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">DuPage County Community School District 200, Wheaton, Illinois, General Obligation Bonds, Series 2003B, 5.250%, 11/01/20 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">413,167</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,615</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">DuPage County Community School District 200, Wheaton, Illinois, General Obligation Bonds, Series 2003B, 5.250%, 11/01/20 (Pre-refunded 11/01/13) &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,767,068</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Development Finance Authority, Gas Supply Revenue Bonds, Peoples Gas, Light and Coke Company, Series 2003E, 4.875%, 11/01/38 (Mandatory put 11/01/18) &#8211; AMBAC Insured (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,143,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,030</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Development Finance Authority, Local Government Program Revenue Bonds, Kane, Cook and DuPage Counties School District U46 &#8211; Elgin, Series 2002, 0.000%, 1/01/19 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21,081,363</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,800</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Development Finance Authority, Local Government Program Revenue Bonds, Winnebago and Boone Counties School District 205 &#8211; Rockford, Series 2000, 0.000%, 2/01/19 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,347,858</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,180</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Development Finance Authority, Revenue Bonds, Chicago Charter School Foundation, Series 2002A, 6.250%, 12/01/32 (Pre-refunded 12/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,375,793</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,450</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Development Finance Authority, Revenue Bonds, Illinois Wesleyan University, Series 2001, 5.125%, 9/01/35 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,359,868</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,875</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009B, 5.500%, 11/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,944,319</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Central DuPage Health, Series 2009, 5.250%, 11/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,061,830</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,245</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Loyola University of Chicago, Tender Option Bond Trust 1137, 9.132%, 7/01/15 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,567,148</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2004A, 5.500%, 8/15/43 (Pre-refunded 8/15/14)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,644,550</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,985</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Refunding Series 2010A, 6.000%, 5/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,158,029</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,800</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Provena Health, Series 2009A, 7.750%, 8/15/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,336,448</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,975</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Sherman Health Systems, Series 2007A, 5.500%, 8/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,659,584</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2011C, 5.500%, 8/15/41</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,634,500</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Refunding Bonds, Silver Cross Hospital and Medical Centers, Series 2008A, 5.500%, 8/15/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,762,280</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,385</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Health Facilities Authority, Revenue Bonds, Sherman Health Systems, Series 1997, 5.250%, 8/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,386,761</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,595</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Health Facilities Authority, Revenue Bonds, South Suburban Hospital, Series 1992, 7.000%, 2/15/18 (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,285,420</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Sports Facility Authority, State Tax Supported Bonds, Series 2001, 5.500%, 6/15/30 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,267,350</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23</font></div>
</td>
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</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="73%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund, Inc. (continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUV</font></div>
</td>
<td valign="top" width="2%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="73%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Illinois </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel Revenue Bonds, Series 2005A-2, 5.500%, 1/01/36 &#8211; ACA Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,482,250</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1993A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,330</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/17 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,884,041</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,070</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/18 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,174,342</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 1994B:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/18 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,643,763</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,385</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/21 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,194,360</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,190</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/28 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,064,011</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,610</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/29 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,293,726</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/24 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/22 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,338,400</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21,375</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/34 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,593,196</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 12/15/35 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,015,850</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21,070</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/36 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,862,113</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,375</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 12/15/36 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,323,896</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">25,825</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/39 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,984,483</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,460</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.250%, 6/15/42 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,473,113</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,700</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 1996A, 0.000%, 12/15/21 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,537,700</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Refunding Bonds, McCormick Place Expansion Project, Series 2002B:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,775</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/20 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,953,407</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,715</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/15/21 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,978,233</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Area 4, Series 2007, 4.700%, 3/01/33 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,001,110</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">805</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tri-City Regional Port District, Illinois, Port and Terminal Facilities Revenue Refunding Bonds, Delivery Network Project, Series 2003A, 4.900%, 7/01/14 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">710,147</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,575</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Will County Community School District 161, Summit Hill, Illinois, Capital Appreciation School Bonds, Series 1999, 0.000%, 1/01/18 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,180,888</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">720</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Will County Community School District 161, Summit Hill, Illinois, Capital Appreciation School Bonds, Series 1999, 0.000%, 1/01/18 &#8211; FGIC Insured (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">632,390</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,680</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Will County Community Unit School District 201U, Crete-Monee, Will County, Illinois, General Obligation Bonds, Capital Appreciation Series 2004, 0.000%, 11/01/16 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,116,150</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">369,370</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Illinois</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">249,659,924</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Indiana &#8211; 2.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Anderson, Indiana, Economic Development Revenue Bonds, Anderson University, Series 2007, 5.000%, 10/01/24</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">247,284</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,010</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Bond Bank, State Revolving Fund Program Bonds, Series 2001A, 5.375%, 2/01/19 (Pre-refunded 2/01/13) (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,560,607</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,990</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Bond Bank, State Revolving Fund Program Bonds, Series 2001A, 5.375%, 2/01/19</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,108,166</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Deaconess Hospital Inc., Series 2004A, 5.375%, 3/01/34 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,010,830</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,968,940</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,450</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,548,212</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 2/01/21 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,718,625</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,595</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 2/01/27 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,043,547</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,425</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Whiting Redevelopment District, Indiana, Tax Increment Revenue Bonds, Lakefront Development Project, Series 2010, 6.750%, 1/15/32</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,456,196</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">51,270</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Indiana</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,662,407</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
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<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="46%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
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<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
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<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
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<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Iowa &#8211; 0.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,375</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Series 2007B, 4.800%, 1/01/37 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,342,391</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, Wartburg College, Series 2002, 5.500%, 10/01/33 (Pre-refunded 10/01/12) &#8211; ACA Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,665,970</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,000</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.625%, 6/01/46</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,022,220</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,875</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Iowa</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,030,581</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Kansas &#8211; 0.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Kansas Department of Transportation, Highway Revenue Bonds, Series 2004A, 5.000%, 3/01/22</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,834,200</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Kentucky &#8211; 0.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">985</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Greater Kentucky Housing Assistance Corporation, FHA-Insured Section 8 Mortgage Revenue Refunding Bonds, Series 1997A, 6.100%, 1/01/24 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">986,310</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/38 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,058,620</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,985</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Kentucky</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,044,930</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Louisiana &#8211; 3.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,310</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Local Government Environment Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Series 2009A, 6.500%, 8/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,458,764</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,450</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Local Government Environment Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Series 2010A-1, 6.500%, 11/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,696,340</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,000</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Local Government Environmental Facilities &amp; Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Project, Series 2007, 6.750%, 11/01/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,546,720</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,150</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Public Facilities Authority, Hospital Revenue Bonds, Franciscan Missionaries of Our Lady Health System, Series 2005A, 5.250%, 8/15/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,114,156</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,340</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Public Facilities Authority, Hospital Revenue Refunding Bonds, Southern Baptist Hospital, Series 1986, 8.000%, 5/15/12 (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,433,085</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,620</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A, 5.250%, 5/15/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,424,411</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,595</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tobacco Settlement Financing Corporation, Louisiana, Tobacco Settlement Asset-Backed Bonds, Series 2001B, 5.875%, 5/15/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,613,873</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">59,465</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Louisiana</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">60,287,349</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Maine &#8211; 0.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,050</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maine Health and Higher Educational Facilities Authority, Revenue Bonds, MaineGeneral Medical Center, Series 2011, 6.750%, 7/01/41</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,083,705</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Maryland &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maryland Energy Financing Administration, Revenue Bonds, AES Warrior Run Project, Series 1995, 7.400%, 9/01/19 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,524,500</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist Healthcare, Series 2011A, 6.125%, 1/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,497,030</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,600</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health, Series 2004, 5.500%, 8/15/33</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,658,190</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,600</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Maryland</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,679,720</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Massachusetts &#8211; 1.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,720</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, Ogden Haverhill Associates, Series 1998B, 5.100%, 12/01/12 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,721,600</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,460</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Cape Cod Health Care Inc., Series 2001C, 5.250%, 11/15/31 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,328,118</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc., Series 2008E-1 &amp;2, 5.125%, 7/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">495,655</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2004A, 6.375%, 7/01/34 (5), (6)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/14 at 100.00</font></div>
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<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">D</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">720,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="46%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">25</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund, Inc. (continued)</font></div>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUV</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Massachusetts </font>(continued)</font></div>
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<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Northern Berkshire Community Services Inc., Series 2004B:</font></div>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,340</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.250%, 7/01/24 (5), (6)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">D</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">482,400</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.375%, 7/01/34 (5), (6)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">D</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">360,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk University Issue, Series 2009A, 5.750%, 7/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,307,567</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,435</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Housing Finance Agency, Housing Bonds, Series 2009F, 5.700%, 6/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,772,983</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,250</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2000-6, 5.500%, 8/01/30</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,264,238</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">30,005</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Massachusetts</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">27,452,561</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Michigan &#8211; 3.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,485</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Detroit Local Development Finance Authority, Michigan, Tax Increment Bonds, Series 1998A, 5.500%, 5/01/21</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,865,618</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Detroit Water Supply System, Michigan, Water Supply System Revenue Bonds, Series 2006D, 4.625%, 7/01/32 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,747,450</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%, 7/01/35 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,928,240</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Detroit, Michigan, Sewage Disposal System Revenue Bonds, Series 2001C-2, 5.250%, 7/01/29 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,093,060</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Kalamazoo Hospital Finance Authority, Michigan, Hospital Revenue Refunding Bonds, Bronson Methodist Hospital, Series 2010, 5.250%, 5/15/36 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,049,020</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011, 5.000%, 12/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,489,695</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,240</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan Municipal Bond Authority, Clean Water Revolving Fund Revenue Refunding Bonds, Series 2002, 5.250%, 10/01/19</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,448,814</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan Municipal Bond Authority, Public School Academy Revenue Bonds, Detroit Academy of Arts and Sciences Charter School, Series 2001A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">80</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.500%, 10/01/12</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">80,056</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.900%, 10/01/21</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,985,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8.000%, 10/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,362,030</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,460</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan State Building Authority, Revenue Bonds, Facilities Program, Series 2005I, 5.000%, 10/15/22 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,882,746</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,200</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan Strategic Fund, Limited Obligation Resource Recovery Revenue Refunding Bonds, Detroit Edison Company, Series 2002D, 5.250%, 12/15/32 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,231,752</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,150</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont Hospital, Refunding Series 2009V, 8.250%, 9/01/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,366,534</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">63,615</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Michigan</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">59,530,915</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Minnesota &#8211; 0.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,750</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Breckenridge, Minnesota, Revenue Bonds, Catholic Health Initiatives, Series 2004A, 5.000%, 5/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,780,608</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,375</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Minneapolis Health Care System, Minnesota, Revenue Bonds, Fairview Hospital and Healthcare Services, Series 2008A, 6.625%, 11/15/28</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,084,920</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Subordinate Lien Series 2005C, 5.000%, 1/01/31 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,337,191</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">265</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Minnesota Housing Finance Agency, Rental Housing Bonds, Series 1995D, 5.900%, 8/01/15 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">266,179</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,730</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Facilities Revenue Bonds, HealthPartners Obligated Group, Series 2006, 5.250%, 5/15/36</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,580,056</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,420</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Minnesota</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,048,954</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Missouri &#8211; 3.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales Tax Appropriation Bonds, Metrolink Cross County Extension Project, Series 2002B, 5.000%, 10/01/32 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,077,940</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">26</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Missouri </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Missouri Health and Educational Facilities Authority, Revenue Bonds, BJC Health System, Series 2003, 5.250%, 5/15/32 (UB)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,413,600</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Missouri Health and Educational Facilities Authority, Revenue Bonds, SSM Health Care System, Series 2010B, 5.000%, 6/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,461,760</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sugar Creek, Missouri, Industrial Development Revenue Bonds, Lafarge North America Inc., Series 2003A, 5.650%, 6/01/37 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,534,680</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">West Plains Industrial Development Authority, Missouri, Hospital Facilities Revenue Bonds, Ozark Medical Center, Series 1997:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">390</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.500%, 11/15/12</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">388,167</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,080</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.600%, 11/15/17</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,035,688</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,175</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">West Plains Industrial Development Authority, Missouri, Hospital Facilities Revenue Bonds, Ozark Medical Center, Series 1999, 6.750%, 11/15/24</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,097,149</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">66,645</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Missouri</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">67,008,984</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Montana &#8211; 0.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,750</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Puget Sound Energy, Series 2003A, 5.000%, 3/01/31 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,803,738</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,540</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Montana Higher Education Student Assistance Corporation, Student Loan Revenue Bonds, Subordinate Series 1998B, 5.500%, 12/01/31 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,447,646</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,290</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Montana</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,251,384</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nebraska &#8211; 0.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Series 2008A, 5.500%, 2/01/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,435,300</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nevada &#8211; 1.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Carson City, Nevada, Hospital Revenue Bonds, Carson-Tahoe Hospital, Series 2003A, 5.125%, 9/01/29 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,263,525</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,368,100</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Director of Nevada State Department of Business and Industry, Revenue Bonds, Las Vegas Monorail Project, First Tier, Series 2000:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,095</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 1/01/24 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,704,226</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 1/01/25 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,169,300</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.625%, 1/01/32 &#8211; AMBAC Insured (6)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">920,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22,010</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.375%, 1/01/40 &#8211; AMBAC Insured (6)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,062,300</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Reno, Nevada, Health Facilities Revenue Bonds, Catholic Healthcare West, Series 2007A, Trust 2634, 18.534%, 7/01/31 &#8211; BHAC Insured (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,838,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sparks Tourism Improvement District 1, Legends at Sparks Marina, Nevada, Senior Sales Tax Revenue Bonds Series 2008A, 6.750%, 6/15/28</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,259,160</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">63,605</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Nevada</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20,584,611</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New Hampshire &#8211; 0.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Hampshire Business Finance Authority, Revenue Bonds, Elliot Hospital Obligated Group Issue, Series 2009A, 6.125%, 10/01/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,474,320</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New Jersey &#8211; 5.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23,625</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 6.250%, 9/15/29 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22,430,520</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 2000, 7.000%, 11/15/30 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,998,830</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Health Care Facilities Financing Authority, New Jersey, Revenue Bonds, Saint Peters University Hospital, Series 2007, 5.750%, 7/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,165,261</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,740</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Saint Barnabas Health Care System, Series 2006B, 0.000%, 7/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/17 at 41.49</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,090,010</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2003C, 5.500%, 6/15/24 (Pre-refunded 6/15/13)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,121,300</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">27</font></div>
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<br>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund, Inc. (continued)</font></div>
</td>
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<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUV</font></div>
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<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">New Jersey </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2006C:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">30,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 12/15/30 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,864,300</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">27,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 12/15/32 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,951,770</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">310</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Turnpike Authority, Revenue Bonds, Series 1991C, 6.500%, 1/01/16 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">365,698</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Turnpike Authority, Revenue Bonds, Series 1991C:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">105</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.500%, 1/01/16 &#8211; NPFG Insured (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">127,956</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,490</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.500%, 1/01/16 &#8211; NPFG Insured (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,652,425</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">27,185</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2002, 6.125%, 6/01/42 (Pre-refunded 6/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,117,717</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,165</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2003, 6.250%, 6/01/43 (Pre-refunded 6/01/13)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,829,196</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 4.750%, 6/01/34</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,360,350</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">146,420</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total New Jersey</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">103,075,333</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New Mexico &#8211; 0.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">University of New Mexico, Revenue Refunding Bonds, Series 1992A, 6.000%, 6/01/21</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,781,520</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,600</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">University of New Mexico, Subordinate Lien Revenue Refunding and Improvement Bonds, Series 2002A, 5.000%, 6/01/32</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,654,720</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,100</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total New Mexico</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,436,240</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New York &#8211; 5.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Dormitory Authority of the State of New York, FHA-Insured Mortgage Hospital Revenue Bonds, Kaleida Health, Series 2006, 4.700%, 2/15/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,018,500</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Kaleida Health, Series 2004, 5.050%, 2/15/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,710,630</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B, 5.000%, 12/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,040,500</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,510</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Vaughn College of Aeronautics, Series 2006B, 5.000%, 12/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,304,957</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, JFK Airport &#8211; American Airlines Inc., Series 2002B, 8.500%, 8/01/28 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,291,600</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue Bonds, Series 2004B, 5.000%, 6/15/36 &#8211; AGM Insured (UB)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,776,045</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York City, New York, General Obligation Bonds, Fiscal Series 2003J:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,450</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.500%, 6/01/21 (Pre-refunded 6/01/13)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,567,755</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">385</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.500%, 6/01/22 (Pre-refunded 6/01/13)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">416,266</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York City, New York, General Obligation Bonds, Fiscal Series 2004C:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.250%, 8/15/24</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,773,600</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.250%, 8/15/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,580,200</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,210</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003A-1C, 5.500%, 6/01/18</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,287,072</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,810</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003A-1, 5.500%, 6/01/19</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">30,742,287</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,980</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and State Contingency Contract-Backed Bonds, Series 2003A-1, 5.500%, 6/01/18 (Pre-refunded 6/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,255,417</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,575</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,992,174</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">102,920</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total New York</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">106,757,003</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">North Carolina &#8211; 0.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Charlotte, North Carolina, Certificates of Participation, Governmental Facilities Projects, Series 2003G, 5.000%, 6/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,523,085</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Charlotte-Mecklenberg Hospital Authority, North Carolina, Carolinas HealthCare System Revenue Bonds, Series 2008A, 5.000%, 1/15/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,019,170</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="46%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">North Carolina </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Charlotte-Mecklenberg Hospital Authority, North Carolina, Health Care Revenue Bonds, Carolinas HealthCare System, Series 2011A, 5.125%, 1/15/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,537,500</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Carolina Eastern Municipal Power Agency, Power System Revenue Refunding Bonds, Series 2003D, 5.125%, 1/01/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,532,325</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Carolina Infrastructure Finance Corporation, Certificates of Participation, Correctional Facilities, Series 2004A, 5.000%, 2/01/20 (Pre-refunded 2/01/14)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,644,435</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Carolina Medical Care Commission, Health System Revenue Bonds, Mission St. Joseph&#8217;s Health System, Series 2007, 4.500%, 10/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,937,240</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,930</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Carolina Medical Care Commission, Healthcare Facilities Revenue Bonds, Duke University Health System, Series 2010A, 5.000%, 6/01/42</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,969,758</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,930</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total North Carolina</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,163,513</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">North Dakota &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,820</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 6.250%, 11/01/31</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,623,974</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ohio &#8211; 2.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">American Municipal Power Ohio Inc., General Revenue Bonds, Prairie State Energy Campus Project Series 2008A, 5.250%, 2/15/43</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,447,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,700</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.375%, 6/01/24</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,503,285</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">690</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.125%, 6/01/24</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">531,652</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.875%, 6/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,158,440</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,165</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.750%, 6/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,457,670</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,335</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.000%, 6/01/42</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,430,748</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,940</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.875%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,481,937</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,300</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-3, 0.000%, 6/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/22 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,989,265</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,730</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 6.000%, 11/15/41</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,894,523</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">70,360</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Ohio</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">54,895,420</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Oklahoma &#8211; 0.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,400</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Fort Sill Apache Tribe of Oklahoma Economic Development Authority, Gaming Enterprise Revenue Bonds, Fort Sill Apache Casino, Series 2011A, 8.500%, 8/25/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,397,382</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,955</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Oklahoma Development Finance Authority, Revenue Bonds, St. John Health System, Series 2004, 5.125%, 2/15/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,069,881</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,045</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Oklahoma Development Finance Authority, Revenue Bonds, St. John Health System, Series 2004, 5.125%, 2/15/31 (Pre-refunded 2/15/14)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+ (4)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,559,237</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,400</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Oklahoma</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,026,500</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Oregon &#8211; 0.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,860</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Oregon State Facilities Authority, Revenue Bonds, Willamette University, Series 2007A, 5.000%, 10/01/32</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,916,342</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pennsylvania &#8211; 1.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,300</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, West Penn Allegheny Health System, Series 2007A, 5.000%, 11/15/28</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,619,349</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2004A, 5.500%, 12/01/31 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,970,015</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,000</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2004D, 5.125%, 6/01/34 (Pre-refunded 6/01/14) &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,904,640</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,075</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia School District, Series 2003, 5.000%, 6/01/33 (Pre-refunded 6/01/13) &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+ (4)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,810,374</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">34,875</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Pennsylvania</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">35,304,378</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">29</font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

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<hr style="COLOR: black" noshade size="2">
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund, Inc. (continued)</font></div>
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<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUV</font></div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Puerto Rico &#8211; 2.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,340</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/44</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,651,749</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.250%, 7/01/39 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,693,200</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,450</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Co-Generation Facility Revenue Bonds, Series 2000A, 6.625%, 6/01/26 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,449,455</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/26 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,639,190</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,985</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.000%, 8/01/42</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,387,987</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,310</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2010C, 5.250%, 8/01/41</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,374,564</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">70,300</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 8/01/54 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,551,222</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">117,385</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Puerto Rico</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">50,747,367</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Rhode Island &#8211; 1.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Lifespan Obligated Group, Series 1996, 5.250%, 5/15/26 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,251,313</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,205</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A, 6.250%, 6/01/42</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,621,548</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">25,455</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Rhode Island</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23,872,861</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">South Carolina &#8211; 2.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Dorchester County School District 2, South Carolina, Installment Purchase Revenue Bonds, GROWTH, Series 2004, 5.250%, 12/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,172,550</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Myrtle Beach, South Carolina, Hospitality and Accommodation Fee Revenue Bonds, Series 2004A, 5.000%, 6/01/36 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,036,450</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,550</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 2004A-2, 0.000%, 1/01/28 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,032,797</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,320</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">South Carolina JOBS Economic Development Authority, Economic Development Revenue Bonds, Bon Secours Health System Inc., Series 2002A, 5.625%, 11/15/30 (Pre-refunded 11/15/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,558,896</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,430</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">South Carolina JOBS Economic Development Authority, Economic Development Revenue Bonds, Bon Secours Health System Inc., Series 2002B, 5.625%, 11/15/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,431,150</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,215</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Spartanburg Sanitary Sewer District, South Carolina, Sewer System Revenue Bonds, Series 2003B, 5.000%, 3/01/38 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,271,650</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">46,515</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total South Carolina</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,503,493</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tennessee &#8211; 1.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Jackson, Tennessee, Hospital Revenue Refunding Bonds, Jackson-Madison County General Hospital Project, Series 2008, 5.625%, 4/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,692,121</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Bonds, Baptist Health System of East Tennessee Inc., Series 2002:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.375%, 4/15/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,090,870</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,605</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.500%, 4/15/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,675,596</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sullivan County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Wellmont Health System, Series 2006C, 5.250%, 9/01/36</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,831,070</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,905</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Tennessee</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,289,657</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Texas &#8211; 7.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Alliance Airport Authority, Texas, Special Facilities Revenue Bonds, American Airlines Inc., Series 2007, 5.250%, 12/01/29 (Alternative Minimum Tax) (6)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">CCC+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,659,500</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Second Tier Series 2006B, 5.750%, 1/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ba2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,795,800</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">30</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Texas </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,110</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ca</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,330,389</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue Bonds, Series 2005:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 1/01/35 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,579,680</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">31,550</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 1/01/45 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">27,283,178</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,850</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H, 0.000%, 11/15/27 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,717,582</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,770</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004-A3, 0.000%, 11/15/33 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/24 at 59.10</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,740,919</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,950</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Bonds, Series 2001G, 5.250%, 11/15/30 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,761,141</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Project, Series 2001B:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24,755</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 9/01/29 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,455,813</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 9/01/31 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,959,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2005, 5.375%, 8/15/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,681,300</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,750</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Martin County Hospital District, Texas, Combination Limited Tax and Revenue Bonds, Series 2011A, 7.250%, 4/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,823,710</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Capital Appreciation Series 2008I:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">30,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 1/01/42 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/25 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">27,672,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,220</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 1/01/43</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/25 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,815,972</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,450</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008D, 0.000%, 1/01/36 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,794,520</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,270</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Port Corpus Christi Industrial Development Corporation, Texas, Revenue Refunding Bonds, Valero Refining and Marketing Company, Series 1997A, 5.400%, 4/01/18</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,271,366</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Richardson Hospital Authority, Texas, Revenue Bonds, Richardson Regional Medical Center, Series 2004, 6.000%, 12/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,050,750</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sabine River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric Company, Series 2003A, 5.800%, 7/01/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">CC</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">482,340</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Antonio, Texas, Water System Revenue Bonds, Series 2005, 4.750%, 5/15/37 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,058,140</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,585</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tarrant County Cultural &amp; Educational Facilities Financing Corporation, Texas, Revenue Bonds, Texas Health Resources Trust 1201, 9.131%, 2/15/30 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,759,934</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,810</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott &amp; White HealthCare Project, Series 2010, 5.500%, 8/15/45</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,922,265</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding Bonds, Christus Health, Series 2008, 6.500%, 7/01/37 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,388,950</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">204,070</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Texas</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">135,005,149</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Utah &#8211; 0.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,260</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Eagle Mountain, Utah, Gas and Electric Revenue Bonds, Series 2005, 5.000%, 6/01/24 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,264,108</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">205</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Utah Housing Finance Agency, Single Family Mortgage Bonds, Series 1998G-2, Class I, 5.200%, 7/01/30 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">205,057</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,700</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Utah State Board of Regents, Utah State University, Revenue Bonds, Series 2004, 5.000%, 4/01/35 (Pre-refunded 4/01/14) &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA (4)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,067,447</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,165</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Utah</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,536,612</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Virgin Islands &#8211; 0.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Virgin Islands Public Finance Authority, Revenue Bonds, Refinery Project &#8211; Hovensa LLC, Series 2003, 6.125%, 7/01/22 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ba2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,299,350</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">31</font></div>
</td>
</tr></table>
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<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund, Inc. (continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUV</font></div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Virginia &#8211; 0.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Fairfax County Economic Development Authority, Virginia, Residential Care Facilities Mortgage Revenue Bonds, Goodwin House, Inc., Series 2007A, 5.125%, 10/01/42</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,410,420</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,125</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Series 2002A, 5.750%, 10/01/16 &#8211; FGIC Insured (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,301,550</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Metropolitan Washington DC Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital Appreciation, Series 2010B, 0.000%, 10/01/44</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/28 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,696,800</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,625</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Virginia</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,408,770</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington &#8211; 4.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,400</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cowlitz County Public Utilities District 1, Washington, Electric Production Revenue Bonds, Series 2004, 5.000%, 9/01/34 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,476,224</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,125</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station &#8211; Nuclear Project 2, Series 2002B, 6.000%, 7/01/18 (Pre-refunded 7/01/12) &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,360,506</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,375</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station &#8211; Nuclear Project 2, Series 2002B, 6.000%, 7/01/18 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,599,464</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Energy Northwest, Washington, Electric Revenue Refunding Bonds, Nuclear Project 3, Series 2003A, 5.500%, 7/01/17 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,295,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,200</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington Public Power Supply System, Revenue Refunding Bonds, Nuclear Project 3, Series 1989B, 0.000%, 7/01/14</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,958,346</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,780</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.625%, 1/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,833,714</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,400</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Health Care Facilities Authority, Revenue Bonds, Kadlec Regional Medical Center, Series 2010, 5.375%, 12/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,295,336</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Health Care Facilities Authority, Revenue Bonds, Northwest Hospital and Medical Center of Seattle, Series 2007, 5.700%, 12/01/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,056,050</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Health Care Facilities Authority, Revenue Bonds, Providence Health Care Services, Series 2006A, 4.625%, 10/01/34 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,858,700</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,805</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2007B, 5.000%, 2/15/27 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,640,262</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,355</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Housing Finance Commission, Single Family Program Bonds, 2006 Series 3A, 5.000%, 12/01/37 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,375,373</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23,185</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Tobacco Settlement Authority, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2002, 6.625%, 6/01/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23,475,972</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State, Motor Vehicle Fuel Tax General Obligation Bonds, Series 2002-03C:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/01/29 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,138,830</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,195</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 6/01/30 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,061,344</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">103,320</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Washington</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">89,425,121</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wisconsin &#8211; 2.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed Bonds, Series 2002:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,210</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.125%, 6/01/27 (Pre-refunded 6/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,318,144</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,750</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.375%, 6/01/32 (Pre-refunded 6/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,268,314</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of Christian Charity Healthcare Ministry, Series 2003A, 5.875%, 9/01/33 (Pre-refunded 9/01/13)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,573,959</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic, Series 2006A, 5.000%, 2/15/17</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,051,189</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital, Inc., Series 2009, 6.000%, 12/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,604,349</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital, Inc., Series 2011A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.750%, 5/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,638,879</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.000%, 5/01/41</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,226,349</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">32</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Wisconsin </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, SSM Healthcare System, Series 2010, 5.000%, 6/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,177,699</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,750</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Services Inc., Series 2002, 5.750%, 8/15/30 (Pre-refunded 2/15/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,847,612</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,340</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Housing and Economic Development Authority, Home Ownership Revenue Bonds, Series 2005C, 4.875%, 3/01/36 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,317,219</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">51,050</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Wisconsin</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">53,023,713</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wyoming &#8211; 0.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,035</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative &#8211; Dry Fork Station Facilities, Series 2009A, 5.750%, 7/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,210,660</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,850</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">West Park Hospital District, Wyoming, Hospital Revenue Bonds, Series 2011A, 7.000%, 6/01/40</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,003,549</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,885</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Wyoming</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,214,209</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,419,664</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Investments (cost $1,889,650,736) &#8211; 99.9%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,912,576,675</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Floating Rate Obligations &#8211; (2.0)%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(38,250,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other Assets Less Liabilities &#8211; 2.1%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,904,546</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Assets &#8211; 100%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,915,231,221</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">All percentages shown in the Portfolio of Investments are based on net assets.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Optional Call Provisions (not covered by the report of independent registered public accounting firm): Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(3)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(5)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Directors. For fair value measurement disclosure purposes, investment categorized as Level 3. See Notes to Financial Statements, Footnote 1 &#8211; General Information and Significant Accounting Policies, Investment Valuation for more information.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(6)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund&#8217;s custodian to cease accruing additional income on the Fund&#8217;s records.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Not rated.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(ETM)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Escrowed to maturity.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(IF)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Inverse floating rate investment.</font></div>
</td>
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<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(UB)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 &#8211; General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">144A</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">33</font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
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<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="72%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund 2</font></div>
</td>
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<td valign="top" width="16%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUW</font></div>
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<td valign="top" width="2%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="72%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%" style="TEXT-ALIGN: left; BORDER-LEFT: medium none"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="72%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2011</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Alaska &#8211; 0.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">155</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Series 2006A, 5.000%, 6/01/46</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">98,256</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Arizona &#8211; 3.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maricopa County Pollution Control Corporation, Arizona, Pollution Control Revenue Bonds, El Paso Electric Company, Refunding Series 2009A, 7.250%, 2/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,555,600</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,995</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,716,375</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,995</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Arizona</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,271,975</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">California &#8211; 8.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California State Public Works Board, Lease Revenue Bonds, Department of General Services Buildings 8 &amp; 9, Series 2009A, 6.250%, 4/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,713,300</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California State, General Obligation Bonds, Tender Option Bond Trust 3162, 19.752%, 3/01/18 &#8211; AGM Insured (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">646,920</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,800</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/45</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,686,222</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,290</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.000%, 6/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,324,648</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">450</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009A, 6.500%, 11/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">507,596</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,320</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/33 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,498,599</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,200</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/38 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/29 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,352,874</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,060</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total California</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,730,159</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Colorado &#8211; 5.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Denver City and County, Colorado, Airport System Revenue Bonds, Series 2005A, 5.000%, 11/15/25 &#8211; SYNCORA GTY Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,332,700</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,605</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004B, 0.000%, 9/01/27 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/20 at 67.94</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,268,852</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Park Creek Metropolitan District, Colorado, Senior Property Tax Supported Revenue Bonds, Series 2009, 6.375%, 12/01/37 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,399,520</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,605</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Colorado</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,001,072</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Florida &#8211; 8.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,100</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hillsborough County, Florida, Junior Lien Revenue Refunding Bonds, Series 2001, 5.500%, 8/01/12 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,141,624</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2009A, 5.500%, 10/01/41</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,860,430</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County, Florida, General Obligation Bonds, Build Better Communities Program, Series 2009-B1:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.000%, 7/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,775,225</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.625%, 7/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,145,480</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2007, 6.450%, 5/01/23 (4)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,038,040</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,600</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Florida</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,960,799</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Georgia &#8211; 0.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A. Remarketed, 7.500%, 1/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">529,390</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta Air Lines, Inc. Project, Series 2009A, 8.750%, 6/01/29</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">CCC+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,159,000</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Georgia</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,688,390</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">34</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
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<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
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<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Illinois &#8211; 11.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Series 2009A, 6.000%, 8/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,482,650</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2009A, 7.125%, 11/15/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,864,070</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009A, 7.250%, 11/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,504,250</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,980</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc., Refunding Series 2007A, 5.250%, 5/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,636,964</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A, 0.000%, 12/15/35 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,687,800</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">45,480</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Illinois</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">25,175,734</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Indiana &#8211; 5.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Finance Authority, Hospital Revenue Bonds, Deaconess Hospital Obligated Group, Series 2009A, 6.750%, 3/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,494,250</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,650</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest Indiana, Series 2007, 5.500%, 3/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,593,316</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series 2009B, 6.000%, 1/01/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,186,380</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,650</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Indiana</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,273,946</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Iowa &#8211; 1.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,025</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C, 5.375%, 6/01/38</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,217,930</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Louisiana &#8211; 7.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Citizens Property Insurance Corporation, Assessment Revenue Bonds, Series 2006C-3, 6.125%, 6/01/25 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,576,650</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2007A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.375%, 5/15/43</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,605,130</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">275</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.500%, 5/15/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">263,909</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,255</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">St John Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation, Series 2007A, 5.125%, 6/01/37</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,171,574</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,530</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Louisiana</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,617,263</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Maine &#8211; 1.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,335</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Bowdoin College, Tender Option Bond Trust 2009-5B, 13.623%, 7/01/39 (IF) (5)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,877,971</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Massachusetts &#8211; 0.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Tender Option Bond Trust 2989, 13.314%, 8/01/38 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,272,130</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Michigan &#8211; 2.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Detroit, Michigan, Second Lien Sewerage Disposal System Revenue Bonds, Series 2005A, 5.000%, 7/01/35 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,955,150</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nevada &#8211; 4.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Clark County, Nevada, Airport Revenue Bonds, Tender Option Bond Trust Series 11823:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">750</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19.915%, 7/01/18 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">970,860</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19.915%, 7/01/36 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,618,100</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Clark County, Nevada, Senior Lien Airport Revenue Bonds, Series 2005A, 5.000%, 7/01/40 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">252,358</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,415</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Las Vegas Redevelopment Agency, Nevada, Tax Increment Revenue Bonds, Series 2009A, 8.000%, 6/15/30</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,208,243</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,665</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Nevada</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,049,561</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">35</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="73%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Value Fund 2 (continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NUW</font></div>
</td>
<td valign="top" width="2%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="73%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">October 31, 2011</font></div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New Jersey &#8211; 2.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Educational Facilities Authority, Revenue Refunding Bonds, University of Medicine and Dentistry of New Jersey, Series 2009B:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,135</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.125%, 12/01/23</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,547,589</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.500%, 12/01/32</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,492,030</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,135</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total New Jersey</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,039,619</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New York &#8211; 1.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series 2007, 5.500%, 10/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,166,890</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">130</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB-</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">136,325</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,130</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total New York</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,303,215</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">North Carolina &#8211; 1.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2003A, 5.250%, 1/01/19 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,132,240</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ohio &#8211; 5.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">American Municipal Power Ohio Inc., General Revenue Bonds, Prairie State Energy Campus Project Series 2009A, 5.750%, 2/15/39 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,444,300</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,885</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 6.500%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB-</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,592,477</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, University Hospitals Health System, Series 2009, 6.750%, 1/15/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,084,560</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,885</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Ohio</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,121,337</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Puerto Rico &#8211; 5.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,390</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2008A, 6.000%, 7/01/44</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,554,098</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,242,520</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Tender Option Bonds Trust 11851, 18.686%, 2/01/16 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,783,200</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,890</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Puerto Rico</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,579,818</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Rhode Island &#8211; 3.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Lifespan Obligated Group Issue, Series 2009A, 7.000%, 5/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A-</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,334,140</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,240</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A, 6.125%, 6/01/32</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,241,426</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,240</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Rhode Island</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,575,566</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Texas &#8211; 6.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,510</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation Bonds, Series 2008, 0.000%, 8/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 27.35</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,775,765</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F, 5.750%, 1/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,464,353</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Richardson Hospital Authority, Texas, Revenue Bonds, Richardson Regional Medical Center, Series 2004, 6.000%, 12/01/34</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,050,750</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23,810</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Texas</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,290,868</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Virgin Islands &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note &#8211; Diageo Project, Series 2009A, 6.750%, 10/01/37</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,073,660</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Virginia &#8211; 1.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington County Industrial Development Authority , Virginia, Hospital Revenue Bonds, Mountain States Health Alliance, Series 2009C, 7.750%, 7/01/38</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,269,040</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">36</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
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<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

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<div id="HDR">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
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<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
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</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wisconsin &#8211; 8.0%</font></div>
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<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">120</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Badger Tobacco Asset Securitization Corporation, Wisconsin, Tobacco Settlement Asset-Backed Bonds, Series 2002, 6.125%, 6/01/27 (Pre-refunded 6/01/12)</font></div>
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<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
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<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">124,043</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Aurora Healthcare Inc., Series 2003, 6.400%, 4/15/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,104,350</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, ProHealth Care, Inc. Obligated Group, Series 2009, 6.625%, 2/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,619,190</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A, 6.000%, 5/01/36</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA-</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,085,219</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,620</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Wisconsin</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,932,802</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">243,310</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Investments (cost $177,758,979) &#8211; 96.5%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">205,508,501</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other Assets Less Liabilities &#8211; 3.5%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,364,934</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Assets &#8211; 100%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">212,873,435</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">All percentages shown in the Portfolio of Investments are based on net assets.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Optional Call Provisions (not covered by the report of independent registered public accounting firm): Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
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<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(3)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
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</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund&#8217;s custodian to cease accruing additional income on the Fund&#8217;s records.</font></div>
</td>
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<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(5)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</font></div>
</td>
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<td valign="top" width="10%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="left" valign="top" width="85%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Not rated.</font></td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(IF)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Inverse floating rate investment.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">37</font></div>
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<hr style="COLOR: black" noshade size="2">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
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<td valign="top" width="3%" style="TEXT-ALIGN: left; BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Income Fund, Inc.</font></div>
</td>
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<td valign="top" width="15%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;<font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160;<font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NMI</font></font></font></td>
<td valign="top" width="3%" style="TEXT-ALIGN: left; BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="left" valign="top" width="82%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="82%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2011</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Alabama &#8211; 2.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Courtland Industrial Development Board, Alabama, Solid Waste Revenue Bonds, International Paper Company Project, Series 2005A, 5.200%, 6/01/25 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">983,230</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Jefferson County, Alabama, Limited Obligation School Warrants, Education Tax Revenue Bonds, Series 2004A, 5.250%, 1/01/23 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">485,170</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">690</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Phenix City Industrial Development Board, Alabama, Environmental Improvement Revenue Bonds, MeadWestvaco Corporation, Series 2002A, 6.350%, 5/15/35 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">689,558</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,190</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Alabama</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,157,958</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Arizona &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007, 5.250%, 12/01/28</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">484,295</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">California &#8211; 19.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,530</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Adelanto School District, San Bernardino County, California, General Obligation Bonds, Series 1997A, 0.000%, 9/01/22 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,200,653</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Bay Area Governments Association, California, BART SFO Extension, Airport Premium Fare Revenue Bonds, Series 2002A, 5.000%, 8/01/32 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">434,115</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Brea Olinda Unified School District, California, General Obligation Bonds, Series 1999A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/21 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,291,400</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,070</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/22 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,224,757</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,120</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 8/01/23 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,161,633</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">460</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2006A, 5.250%, 6/01/21</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ba1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">423,752</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Housing Finance Agency, California, Home Mortgage Revenue Bonds, Series 2007E, 4.800%, 8/01/37 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">213,943</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California State Public Works Board, Lease Revenue Bonds, Department of Mental Health, Coalinga State Hospital, Series 2004A, 5.000%, 6/01/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,525,450</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">375</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Series 2010, 6.000%, 10/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">380,756</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A, 5.000%, 7/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">806,830</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2003A-1, 6.750%, 6/01/39 (Pre-refunded 6/01/13)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,646,100</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1, 5.750%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">723,480</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Lake Elsinore Public Finance Authority, California, Local Agency Revenue Refunding Bonds, Series 2003H, 6.375%, 10/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/13 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">501,060</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Madera County, California, Certificates of Participation, Children&#8217;s Hospital Central California, Series 2010, 5.375%, 3/15/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">244,013</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">M-S-R Energy Authority, California, Gas Revenue Bonds, Series 2009A, 7.000%, 11/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">356,586</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ridgecrest Redevelopment Agency, California, Ridgecrest Redevelopment Project Tax Allocation Bonds, Refunding Series 2010, 6.125%, 6/30/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">255,365</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">385</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C, 6.000%, 8/01/24</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">399,083</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment Project, Subordinate Lien Series 2011, 6.000%, 12/01/22</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,077,820</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21,990</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total California</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,866,796</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Colorado &#8211; 3.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">660</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Douglas County School District RE-1 &#8211; DCS Montessori School, Series 2002A, 6.000%, 7/15/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">661,782</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Health Facilities Authority, Revenue Bonds, Evangelical Lutheran Good Samaritan Society, Series 2005, 5.000%, 6/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">925,010</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">38</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="46%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Colorado </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Refunding Bonds, Series 2011, 6.125%, 12/01/41 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,087,750</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">520</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008, 6.125%, 11/15/23</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">553,888</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Southlands Metropolitan District 1, Colorado, Limited Tax General Obligation Bonds, Series 2007, 5.250%, 12/01/34 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">198,668</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,430</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Colorado</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,427,098</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Connecticut &#8211; 1.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,100</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Capitol Region Education Council, Connecticut, Revenue Bonds, Series 1995, 6.750%, 10/15/15</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,103,454</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">260</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Eastern Connecticut Resource Recovery Authority, Solid Waste Revenue Bonds, Wheelabrator Lisbon Project, Series 1993A, 5.500%, 1/01/14 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">260,692</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,360</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Connecticut</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,364,146</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Florida &#8211; 4.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">110</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Dade County Industrial Development Authority, Florida, Revenue Bonds, Miami Cerebral Palsy Residential Services Inc., Series 1995, 8.000%, 6/01/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">106,569</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University, Refunding Series 2011, 6.375%, 4/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">529,530</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,250</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Martin County Industrial Development Authority, Florida, Industrial Development Revenue Bonds, Indiantown Cogeneration LP, Series 1994A, 7.875%, 12/15/25 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,253,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">600</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Martin County Industrial Development Authority, Florida, Industrial Development Revenue Refunding Bonds, Indiantown Cogeneration LP, Series 1995B, 8.050%, 12/15/25 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">601,872</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">640</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/35 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">657,818</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010, 5.375%, 10/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">516,420</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">640</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2006, 5.400%, 5/01/37</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">497,152</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,240</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Florida</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,163,261</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Georgia &#8211; 0.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2009B, 5.250%, 11/01/34 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">530,305</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">300</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B, 5.000%, 3/15/22</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">294,489</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">800</font></div>
</td>
<td valign="top" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Georgia</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">824,794</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Illinois &#8211; 10.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">740</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, Illinois, Tax Increment Allocation Bonds, Irving/Cicero Redevelopment Project, Series 1998, 7.000%, 1/01/14</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">741,295</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Development Finance Authority, Pollution Control Revenue Refunding Bonds &#8211; CIPS Debt, Series 1993C-1, 5.950%, 8/15/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,499,880</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Development Finance Authority, Revenue Bonds, Chicago Charter School Foundation, Series 2002A, 6.125%, 12/01/22 (Pre-refunded 12/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">530,110</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Children&#8217;s Memorial Hospital, Tender Option Bond Trust 2008-1098, 18.206%, 8/15/15 &#8211; AGC Insured (IF) (5)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,090,160</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2010C, 5.125%, 5/15/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">249,318</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2009C, 6.375%, 11/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">267,813</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Series 2009, 7.000%, 8/15/44</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">525,295</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Series 2005 Remarketed, 5.250%, 3/01/30 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">257,895</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">600</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="46%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Health Facilities Authority, Revenue Bonds, Condell Medical Center, Series 2002, 5.500%, 5/15/32 (Pre-refunded 5/15/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aaa</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">616,854</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">39</font></div>
</td>
</tr></table>
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<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
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<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">October 31, 2011</font></div>

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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Illinois </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Health Facilities Authority, Revenue Refunding Bonds, Elmhurst Memorial Healthcare, Series 2002, 5.500%, 1/01/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,007,830</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel Revenue Bonds, Series 2005B, 5.250%, 1/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">173,503</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,305</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Chicago, Illinois, General Obligation Bonds, Series 2005B, 5.000%, 11/01/25 &#8211; FGIC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,360,397</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">800</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010, 6.000%, 6/01/28</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">834,288</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,945</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Illinois</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,154,638</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Indiana &#8211; 3.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">525</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 7.000%, 10/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">534,513</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Riverview Hospital, Series 2002, 6.125%, 8/01/31 (Pre-refunded 8/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,106,080</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vigo County Hospital Authority, Indiana, Hospital Revenue Bonds, Union Hospital, Inc., Series 2011, 8.000%, 9/01/41</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">540,210</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,025</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Indiana</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,180,803</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Iowa &#8211; 0.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">835</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Iowa Higher Education Loan Authority, Private College Facility Revenue Bonds, University of Dubuque Project, Refunding Series 2011, 5.625%, 10/01/26</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">837,154</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Kansas &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park Convention Center, Series 2007B, 5.125%, 1/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">472,655</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Kentucky &#8211; 2.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro Medical Health System, Series 2010A, 6.500%, 3/01/45</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">527,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">425</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Kentucky Housing Corporation, Housing Revenue Bonds, Series 2010C, 4.625%, 7/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">427,418</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisville-Jefferson County Metropolitan Government, Kentucky, Health Facilities Revenue Bonds, Jewish Hospital &amp; Saint Mary&#8217;s HealthCare Inc. Project, Series 2008, 6.125%, 2/01/37</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,546,875</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,425</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Kentucky</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,501,293</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Louisiana &#8211; 1.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Refunding Bonds, City of Shreveport Airport System Project, Series 2008A, 5.750%, 1/01/28 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">526,160</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana Public Facilities Authority, Extended Care Facilities Revenue Bonds, Comm-Care Corporation Project, Series 1994:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">80</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.000%, 2/01/14 (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">89,822</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">750</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.000%, 2/01/14 (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">842,085</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,330</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Louisiana</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,458,067</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Maryland &#8211; 2.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maryland Economic Development Corporation, Economic Development Revenue Bonds, Transportation&#160;Facilities Project, Series 2010A, 5.750%, 6/01/35</font></div>
</td>
<td valign="top" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; 6/20 at 100.00</font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">994,450</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maryland Energy Financing Administration, Revenue Bonds, AES Warrior Run Project, Series 1995, 7.400%, 9/01/19 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,007,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">210</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Patterson Park Public Charter School Issue, Series 2010, 6.000%, 7/01/40</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">201,667</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,210</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Maryland</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,203,117</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Massachusetts &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">155</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, Ogden Haverhill Associates, Series 1999A, 6.700%, 12/01/14 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">155,135</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">270</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden Haverhill Project, Series 1998A, 5.450%, 12/01/12 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">270,140</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">425</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Massachusetts</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">425,275</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
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<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
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<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
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<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Michigan &#8211; 2.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Delta County Economic Development Corporation, Michigan, Environmental Improvement Revenue </font>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Refunding Bonds, MeadWestvaco Corporation &#8211; Escanaba Paper Company, Series 2002B, 6.450%, 4/15/23 (Pre-refunded 4/15/12) (Alternative Minimum Tax)</font></font></div>
</div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,028,250</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan State Building Authority, Revenue Refunding Bonds, Facilities Program, Series 2011-II-A, 5.375%, 10/15/36</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,077,480</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Michigan</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,105,730</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Mississippi &#8211; 0.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">502,500</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Missouri &#8211; 6.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">265</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hanley Road Corridor Transportation Development District, Brentwood and Maplewood, Missouri, Transportation Sales Revenue Bonds, Refunding Series 2009A, 5.875%, 10/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">277,087</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,450</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Missouri Environmental Improvement and Energy Resources Authority, Water Facility Revenue Bonds, Missouri-American Water Company, Series 2006, 4.600%, 12/01/36 &#8211; AMBAC Insured (Alternative Minimum Tax) (UB)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,341,776</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Missouri Health and Educational Facilities Authority, Revenue Bonds, Rockhurst University, Series 1999, 6.000%, 10/01/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/18 at 103.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">531,060</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Missouri Health and Educational Facilities Authority, Revenue Bonds, Rockhurst University, Series 2011A, 5.250%, 10/01/20</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/18 at 103.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">527,275</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,715</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Missouri</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,677,198</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Montana &#8211; 1.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,200</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Montana Board of Investments, Exempt Facility Revenue Bonds, Stillwater Mining Company, Series 2000, 8.000%, 7/01/20 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,209,108</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nebraska &#8211; 1.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">400</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nebraska Educational Finance Authority, Revenue Bonds, Clarkson College Project, Refunding Series 2011, 5.050%, 9/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">418,652</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington County, Nebraska, Wastewater Facilities Revenue Bonds, Cargill Inc., Series 2002, 5.900%, 11/01/27 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,022,860</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,400</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Nebraska</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,441,512</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New Jersey &#8211; 0.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2007-1A, 4.750%, 6/01/34</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">336,035</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New York &#8211; 5.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">630</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009, 6.250%, 7/15/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">656,794</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Dormitory Authority of the State of New York, Revenue Bonds, Brooklyn Law School, Series 2003A, 5.500%, 7/01/15 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,064,890</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">400</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series 2011A, 5.750%, 2/15/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">424,328</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">265</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">277,892</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,245</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Yates County Industrial Development Agency, New York, FHA-Insured Civic Facility Mortgage Revenue Bonds, Soldiers and Sailors Memorial Hospital, Series 2000A, 6.000%, 2/01/41</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/12 at 100.50</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,316,997</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,540</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total New York</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,740,901</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">North Dakota &#8211; 0.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">300</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Fargo, North Dakota, Health System Revenue Bonds, Sanford Health, Refunding Series 2011, 6.250%, 11/01/31</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">330,843</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ohio &#8211; 2.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">520</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">369,398</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">41</font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Municipal Income Fund, Inc. (continued)</font></div>
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<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NMI</font></div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">October 31, 2011</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Ohio </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Erie County, Ohio, Hospital Facilities Revenue Bonds, Firelands Regional Medical Center Project, Series 2006, 5.250%, 8/15/46</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">887,320</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard, Refunding &amp; improvement Series 2010, 6.375%, 4/01/30</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">501,740</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,020</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Ohio</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,758,458</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pennsylvania &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">460</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009, 6.125%, 1/01/29</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">474,600</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Puerto Rico &#8211; 0.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">640</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 2009A, 6.000%, 8/01/42</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">691,738</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Rhode Island &#8211; 1.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2002A, 6.250%, 6/01/42</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">917,550</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">South Carolina &#8211; 1.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">475</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Piedmont Municipal Power Agency, South Carolina, Electric Revenue Bonds, Series 1991, 6.750%, 1/01/19 &#8211; FGIC Insured (ETM)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1 (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">614,816</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,105</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">South Carolina JOBS Economic Development Authority, Economic Development Revenue Bonds, Bon Secours Health System Inc., Series 2002B, 5.625%, 11/15/30</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,105,077</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,580</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total South Carolina</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,719,893</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tennessee &#8211; 3.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Bonds, Baptist Health System of East Tennessee Inc., Series 2002, 6.375%, 4/15/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,030,290</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shelby County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue Bonds, Methodist Healthcare, Series 2002:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">375</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.500%, 9/01/26 (Pre-refunded 9/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">394,328</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">625</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.500%, 9/01/26 (Pre-refunded 9/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+ (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">657,213</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sullivan County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds, Wellmont Health System, Series 2006C, 5.250%, 9/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">943,690</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sumner County Health, Educational, and Housing Facilities Board, Tennessee, Revenue Refunding Bonds, Sumner Regional Health System Inc., Series 2007, 5.500%, 11/01/37 (6), (7)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">37,050</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Tennessee</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,062,571</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Texas &#8211; 10.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cameron Education Finance Corporation, Texas, Charter School Revenue Bonds, Faith Family Academy Charter School, Series 2006A, 5.250%, 8/15/36 &#8211; ACA Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,207,890</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Gulf Coast Waste Disposal Authority, Texas, Sewerage and Solid Waste Disposal Revenue Bonds, Anheuser Busch Company, Series 2002, 5.900%, 4/01/36 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,005,780</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">350</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Houston Higher Education Finance Corporation, Texas, Education Revenue Bonds, Cosmos Foundation, Inc., Series 2011A, 6.500%, 5/15/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">372,757</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Matagorda County Navigation District 1, Texas, Collateralized Revenue Refunding Bonds, Houston Light and Power Company, Series 1995, 4.000%, 10/15/15 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,033,690</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Tender Option Bond Trust 1015:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">150</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20.411%, 1/01/38 (IF) (5)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">189,728</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">850</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20.304%, 1/01/38 (IF) (5)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,053,533</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">200</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011C, 0.000%, 9/01/43</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/31 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">110,758</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">270</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">SA Energy Acquisition Public Facilities Corporation, Texas, Gas Supply Revenue Bonds, Series 2007, 5.500%, 8/01/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">281,383</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">405</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Series 2009, 6.875%, 12/31/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">433,233</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">770</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Series 2010, 7.000%, 6/30/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">829,991</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas Public Finance Authority, Charter School Finance Corporation Revenue Bonds, Idea Public School Project, Series 2007A, 5.000%, 8/15/37 &#8211; ACA Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">428,360</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">42</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Texas </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Weslaco Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Knapp Medical Center, Series 2002:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.250%, 6/01/25 (Pre-refunded 6/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,034,720</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">50</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.250%, 6/01/32 (Pre-refunded 6/01/12)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R (4)</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">51,736</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">West Texas Independent School District, McLennan and Hill Counties, General Obligation Refunding Bonds, Series 1998, 0.000%, 8/15/25</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/13 at 51.84</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AAA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">483,680</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,045</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Texas</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,517,239</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Virgin Islands &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">420</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Virgin Islands Public Finance Authority, Matching Fund Revenue Loan Note &#8211; Diageo Project, Series 2009A, 6.750%, 10/01/37</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">450,937</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Virginia &#8211; 2.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chesterfield County Industrial Development Authority, Virginia, Pollution Control Revenue Bonds, Virginia Electric and Power Company, Series 1987A, 5.875%, 6/01/17</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,017,740</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mecklenburg County Industrial Development Authority, Virginia, Revenue Bonds, UAE Mecklenburg Cogeneration LP, Series 2002, 6.500%, 10/15/17 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,506,870</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Virginia</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,524,610</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Health Care Facilities Authority, Revenue Bonds, Northwest Hospital and Medical Center of Seattle, Series 2007, 5.700%, 12/01/32</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">411,210</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wisconsin &#8211; 3.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit Health System, Inc., Series 2010B, 5.000%, 4/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">234,390</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Carroll College Inc., Series 2001, 6.250%, 10/01/21</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,001,379</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Meriter Hospital, Inc., Series 2011A, 5.500%, 5/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,030,199</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">700</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran, Series 2011A, 5.250%, 10/15/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">695,414</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,950</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Wisconsin</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,961,382</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">95,975</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Investments (cost $86,954,471) &#8211; 102.1%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">90,355,365</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Floating Rate Obligations &#8211; (3.8)%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(3,335,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other Assets Less Liabilities &#8211; 1.7%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,467,489</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Assets &#8211; 100%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">88,487,854</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">All percentages shown in the Portfolio of Investments are based on net assets.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Optional Call Provisions (not covered by the report of independent registered public accounting firm): Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(3)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
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<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities.</font></div>
</td>
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<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(5)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(6)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For fair value measurement disclosure purposes, investment categorized as Level 3. See Notes to Financial Statements, Footnote 1 &#8211; General Information and Significant Accounting Policies, Investment Valuation for more information.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(7)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund&#8217;s custodian to cease accruing additional income on the Fund&#8217;s records.</font></div>
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<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Not rated.</font></div>
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<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(ETM)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="85%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Escrowed to maturity.&#160; </font></td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(IF)</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Inverse floating rate investment.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(UB)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 &#8211; General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.</font></div>
</td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">43</font></div>
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<hr style="COLOR: black" noshade size="2">
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Enhanced Municipal Value Fund</font></div>
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<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NEV</font></div>
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<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="TEXT-ALIGN: left; BORDER-LEFT: medium none"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="82%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2011</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Alabama &#8211; 0.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Jefferson County, Alabama, Limited Obligation School Warrants, Education Tax Revenue Bonds, Series 2004A, 5.250%, 1/01/23 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,940,680</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Arizona &#8211; 3.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Arizona State, Certificates of Participation, Series 2010A, 5.250%, 10/01/28 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,164,620</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Festival Ranch Community Facilities District, Town of Buckeye, Arizona, District General Obligation Bonds, Series 2009, 6.500%, 7/15/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,590,750</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">320</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Quechan Indian Tribe of the Fort Yuma Reservation, Arizona, Government Project Bonds, Series 2008, 7.000%, 12/01/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/17 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">297,398</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">50</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 12/01/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">46,096</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.000%, 12/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,813,940</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,924</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Watson Road Community Facilities District, Arizona, Special Assessment Revenue Bonds, Series 2005, 6.000%, 7/01/30</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,621,047</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,794</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Arizona</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,533,851</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">California &#8211; 18.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Bay Area Governments Association, California, BART SFO Extension, Airport Premium Fare Revenue Bonds, Series 2002A, 5.000%, 8/01/32 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">868,230</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Series 2009F-1, 5.000%, 4/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,212,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">920</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Educational Facilities Authority, Revenue Bonds, University of Southern California, Tender Option Bond Trust 3144, 19.336%, 10/01/16 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,221,567</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,040</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp; Services, Tender Option Bond Trust 3878, 24.742%, 10/01/33 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,556,120</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Tender Option Bond Trust 3248:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,700</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24.588%, 2/15/23 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,501,295</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">300</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24.588%, 2/15/23 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">441,405</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Municipal Finance Authority, Revenue Bonds, Harbor Regional Center Project, Series 2009, 8.000%, 11/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,095,690</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">California Statewide Communities Development Authority, Revenue Bonds, American Baptist Homes of the West, Series 2010, 5.750%, 10/01/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">503,445</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,080</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">National City Community Development Commission, San Diego County, California, Redevelopment Project Tax Allocation Bonds, Series 2011, 7.000%, 8/01/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,179,133</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">400</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Davis Redevelopment Agency, California, Tax Allocation Bonds, Davis Redevelopment Project, Subordinate Series 2011A, 7.000%, 12/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">438,312</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">275</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Eastern Municipal Water District, California, Water and Sewerage System Revenue Certificates of Participation, Series 2006A, 5.000%, 7/01/32 &#8211; NPFG Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">283,456</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">490</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Etiwanda School District, California, Coyote Canyon Community Facilties District 2004-1 Improvement Area 2 Special Tax Bonds, Series 2009, 6.500%, 9/01/32</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500,481</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">845</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Folsom Public Financing Authority, California, Special Tax Revenue Bonds, Refunding Series 2007A, 5.000%, 9/01/23 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">828,683</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">880</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Folsom Public Financing Authority, California, Subordinate Special Tax Revenue Bonds, Series 2010A, 5.250%, 9/01/24</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">895,558</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,030</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/35 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,928,071</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">44</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">California </font>(continued)</font></div>
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<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Series 2007A-1:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,055</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.750%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,933,711</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.125%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">651,200</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,550</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Grossmont Healthcare District, California, General Obligation Bonds, Tender Option Bond Trust 3253, 32.501%, 1/15/19 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,498,940</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">200</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Jurupa Public Financing Authority, California, Superior Lien Revenue Bonds, Series 2010A, 5.000%, 9/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">201,050</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,710</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Los Angeles Community College District, Los Angeles County, California, General Obligation Bonds, Tender Option Bond Trust 3237, 24.499%, 8/01/27 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,240,664</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,600</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Los Angeles County, California, Community Development Commission Headquarters Office Building, Lease Revenue Bonds, Community Development Properties Los Angeles County Inc., Tender Option Bond Trust Series 2011-23B, 23.577%, 9/01/42 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,869,520</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">525</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2010A, 5.000%, 5/15/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">557,382</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">100</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Los Angeles Regional Airports Improvement Corporation, California, Sublease Revenue Bonds, Los Angeles International Airport, American Airlines Inc. Terminal 4 Project, Series 2002B, 7.500%, 12/01/24 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">92,169</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,165</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field Redevelopment Project, Series 2011, 6.750%, 9/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,254,181</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,455</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Palm Drive Health Care District, Sonoma County, California, Certificates of Participation, Parcel Tax Secured Financing Program, Series 2010, 7.000%, 4/01/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,422,786</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">265</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009, 6.750%, 11/01/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">271,437</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ridgecrest Redevelopment Agency, California, Ridgecrest Redevelopment Project Tax Allocation Bonds, Refunding Series 2010, 6.125%, 6/30/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">255,365</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Francisco Redevelopment Finance Authority, California, Tax Allocation Revenue Bonds, Mission Bay North Redevelopment Project, Series 2011C:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.500%, 8/01/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">522,725</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">700</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.750%, 8/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">761,376</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">San Francisco Redevelopment Financing Authority, California, Tax Allocation Revenue Bonds, Mission Bay South Redevelopment Project, Series 2011D, 6.625%, 8/01/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">521,515</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">360</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Santee Community Development Commission, California, Santee Redevelopment Project Tax Allocation Bonds, Series 2011A, 7.000%, 8/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">393,376</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Semitrophic Improvement District of Semitrophic Water Storage District, Kern County, California, Revenue Bonds, Refunding Series 2009A, 5.000%, 12/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,046,990</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,400</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Semitrophic Improvement District of Semitrophic Water Storage District, Kern County, California, Revenue Bonds, Tender Option Bond Trust 3584, 21.949%, 6/01/17 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,055,752</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,110</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Stockton Unified School District, San Joaquin County, California, General Obligation Bonds, Series 2007, 5.000%, 8/01/31 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,152,389</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tustin Community Redevelopment Agency, California, MCAS Project Area Tax Allocation Bonds, Series 2010, 5.000%, 9/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/18 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">467,925</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,045</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ukiah Redevelopment Agency, California, Tax Allocation Bonds, Ukiah Redevelopment Project, Series 2011A, 6.500%, 12/01/28</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,071,877</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,020</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Western Placer Unified School District, Placer County, California, Certificates of Participation, Refunding Series 2009, 5.250%, 8/01/35 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,034,504</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">45,470</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total California</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">49,730,280</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">45</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

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<hr style="COLOR: black" noshade size="2">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Enhanced Municipal Value Fund (continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NEV</font></div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">October 31, 2011</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Colorado &#8211; 4.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Crown Pointe Academy of Westminster Project, Chartered Through Adams County School District 50, Series 2009, 5.000%, 7/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,020,760</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,090</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Montessori School of Evergreen, Series 2005A, 6.500%, 12/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,908,107</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">925</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Housing and Finance Authority, Multifamily Housing Revenue Senior Bonds, Castle Highlands Apartments Project, Series 2000A-1, 5.900%, 12/01/20 &#8211; AMBAC Insured (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">903,383</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Colorado Housing and Finance Authority, Revenue Bonds, Confluence Energy LLC Project, Series 2007:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 4/21/14 (Alternative Minimum Tax) (5), (6)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,954</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">49</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">0.000%, 4/21/14 (Alternative Minimum Tax) (5), (6)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.200%, 4/01/16 (Alternative Minimum Tax) (5), (6), (7)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">103,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Conservatory Metropolitan District, Arapahoe County, Colorado, General Obligation Limited Tax Bonds, Series 2007, 5.125%, 12/01/37 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,516,460</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Plaza Metropolitan District 1, Lakewood, Colorado, Tax Increment Revenue Bonds, Series 2003:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.600%, 12/01/16</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,010,120</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7.700%, 12/01/17</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/14 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">504,815</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">475</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.250%, 11/15/28</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">498,646</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,030</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.500%, 11/15/38 (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,389,516</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">815</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Three Springs Metropolitan District 3, Durango, La Plata County, Colorado, Property Tax Supported Revenue Bonds, Series 2010, 7.750%, 12/01/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">805,090</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,145</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Colorado</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,677,751</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Connecticut &#8211; 0.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">915</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hamden, Connecticut, Facility Revenue Bonds, Whitney Center Project, Series 2009A, 7.750%, 1/01/43</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">952,396</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,250</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Series 2010A, 7.000%, 4/01/22</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,323,963</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,165</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Connecticut</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,276,359</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Delaware &#8211; 0.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,035</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wilmington, Delaware, Replacement Housing Factor Fund Securitization Revenue Bonds, Wilmington Housing Authority-Lincoln Towers Project, Series 2011, 5.750%, 7/15/16</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,035,102</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">District of Columbia &#8211; 0.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">District of Columbia, Revenue Bonds, Center for Strategic and International Studies, Inc., Series 2011, 6.375%, 3/01/31</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,525,560</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Florida &#8211; 6.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,935</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ave Maria Stewardship Community Development District, Florida, Capital Improvement Revenue Bonds, Series 2006A, 5.125%, 5/01/38</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,519,710</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">980</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Country Greens Community Development District, Florida, Special Assessment Bonds, Series 2003, 6.625%, 5/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/13 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">967,044</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,950</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2009-2, 4.650%, 7/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,980,916</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County Health Facility Authority, Florida, Hospital Revenue Bonds, Miami Children&#8217;s Hospital, Series 2010A, 6.000%, 8/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,045,200</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,625</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010A-1, 5.375%, 10/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,686,685</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,460</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2010B, 5.000%, 10/01/35 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500,646</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,660</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Miami-Dade County, Florida, Special Obligation Bonds, Capital Asset Acquisition Series 2009A,<br>
5.125%, 4/01/34 &#8211; AGC Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,808,596</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">46</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Florida </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mid-Bay Bridge Authority, Florida, Capital Springing Lien Revenue Bonds, Series 2011, 7.250%, 10/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,099,280</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Sumter County Utility Dependent District, Florida, Utility Revenue Bonds, Series 2010, 5.375%, 10/01/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,032,840</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">435</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Poinciana West Community Development District, Florida, Special Assessment Bonds, Series 2007, 5.875%, 5/01/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">408,843</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,200</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tolomato Community Development District, Florida, Special Assessment Bonds, Series 2007, 6.650%, 5/01/40 (7)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">747,816</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,245</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Florida</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,797,576</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Georgia &#8211; 7.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Atlanta, Georgia, Airport General Revenue Refunding Bonds, Series 2010C, 5.250%, 1/01/30 &#8211; AGM Insured (UB)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,897,720</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">750</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008A. Remarketed, 7.500%, 1/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">794,085</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Atlanta, Georgia, Tax Allocation Bonds, Beltline Project Series 2008B. Remarketed, 6.750%, 1/01/20</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,048,390</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,250</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta Air Lines, Inc. Project, Series 2009A, 8.750%, 6/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">CCC+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,448,750</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Clayton County Development Authority, Georgia, Special Facilities Revenue Bonds, Delta Air Lines, Inc. Project, Series 2009B, 9.000%, 6/01/35 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">CCC+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,690,025</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">150</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006A, 5.500%, 9/15/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">148,713</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">90</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2006B, 5.000%, 3/15/22</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">88,347</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,740</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Georgia</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,116,030</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Illinois &#8211; 10.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">CenterPoint Intermodal Center Program Trust, Illinois, Series 2004 Class A Certificates, 8.500%, 6/15/23</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500,225</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, Illinois, Chicago O&#8217;Hare International Airport Special Facility Revenue Refunding Bonds, American Air Lines, Inc. Project, Series 2007, 5.500%, 12/01/30 (7)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Caa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,124,060</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Grundy County School District 54 Morris, Illinois, General Obligation Bonds, Refunding Series 2005, 6.000%, 12/01/24 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,306,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,460</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hoffman Estates, Illinois, General Obligation Bonds, Tender Option Bond Trust 09-28W, 26.912%, 12/01/38 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,768,337</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority Revenue Bonds, Christian Homes, Inc., Refunding Series 2010, 6.125%, 5/15/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,015,900</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Admiral at Lake Project, Temps 65 Series 2010D-2, 6.375%, 5/15/17</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000,450</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, DePaul University, Series 2011B, 5.500%, 10/01/23</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,109,660</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Refunding Series 2006A, 5.000%, 4/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,901,320</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,380</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Little Company of Mary Hospital and Health Care Centers, Series 2010, 5.250%, 8/15/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,304,100</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Montgomery Place Project, Series 2006A, 5.500%, 5/15/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">911,210</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,975</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Northwestern Memorial Hospital, Tender Option Bonds Trust 11-16B, 27.189%, 8/15/39 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,928,234</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2010C, 5.125%, 5/15/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">997,270</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Series 2005 Remarketed, 5.250%, 3/01/30 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">515,790</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">455</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Tender Option Bond Trust 3908, 26.588%, 2/15/19 &#8211; AGM Insured (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">566,730</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Finance Authority, Revenue Refunding Bonds, Resurrection Health Care Corporation, Series 2009, 6.125%, 5/15/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,034,820</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">47</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Enhanced Municipal Value Fund (continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NEV</font></div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Illinois </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Illinois Health Facilities Authority, Revenue Refunding Bonds, Elmhurst Memorial Healthcare, Series 2002, 5.500%, 1/01/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/13 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">503,915</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Lombard Public Facilities Corporation, Illinois, Second Tier Conference Center and Hotel Revenue Bonds, Series 2005B:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,685</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.250%, 1/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,887,609</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.250%, 1/01/36</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">694,010</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">420</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pingree Grove Village, Illinois, Tax Assessment Bonds, Special Service Area 1 &#8211; Cambridge Lakes Project, Series 2005-1, 5.250%, 3/01/15</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">409,093</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2010, 6.000%, 6/01/28</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,042,860</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Southwestern Illinois Development Authority, Illinois, Saint Clair County Comprehensive Mental Health Center, Series 2007, 6.625%, 6/01/37</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 103.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,438,155</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Springfield, Sangamon County, Illinois, Special Service Area, Legacy Pointe, Special Assessment Bonds, Series 2009, 7.875%, 3/01/32</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/17 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,041,420</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">30,375</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Illinois</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">29,002,068</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Indiana &#8211; 1.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,395</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Indiana Finance Authority, Educational Facilities Revenue Bonds, Drexel Foundation For Educational Excellence, Inc., Series 2009A, 6.625%, 10/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,409,159</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vigo County Hospital Authority, Indiana, Hospital Revenue Bonds, Union Hospital, Inc., Series 2011, 7.750%, 9/01/31</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,137,320</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,395</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Indiana</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,546,479</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Kansas &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park Convention Center, Series 2007B, 5.125%, 1/01/22 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,417,965</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Louisiana &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,165</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Tender Option Bond Trust 11899, 17.940%, 5/01/33 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,420,496</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Massachusetts &#8211; 1.9%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">625</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Educational Financing Authority, Student Loan Revenue Bonds, Issue I Series 2010A, 5.500%, 1/01/22</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">691,338</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">915</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Educational Financing Authority, Student Loan Revenue Bonds, Issue I Series 2010B, 5.500%, 1/01/23</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">954,336</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Health and Educational Facilities Authority Revenue Bonds, Quincy Medical Center Issue, Series 2008A, 6.250%, 1/15/28 (6), (7)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">570,000</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,385</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Emerson Hospital, Series 2005E, 5.000%, 8/15/35 &#8211; RAAI Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,925,077</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2010C, 5.000%, 12/01/30 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">988,450</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,925</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Massachusetts</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,129,201</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Michigan &#8211; 11.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,650</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Series 2005, 5.250%, 5/01/27 &#8211; AGM Insured (UB) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,819,358</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,865</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Marysville Public School District, St Claire County, Michigan, General Obligation Bonds, Series 2007, 5.000%, 5/01/32 &#8211; AGM Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,965,848</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan Finance Authority, General Obligation Bonds, Detroit City School District, State Aid Notes Series 2011A-2, 6.650%, 3/20/12</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,110,080</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,100</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan State Hospital Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2009, 5.750%, 11/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,150,799</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">48</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Michigan </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Tender Option Bond Trust 3244:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24.104%, 12/01/24 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,113,560</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">535</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24.016%, 12/01/24 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">565,254</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">585</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23.983%, 12/01/24 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">618,006</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,340</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue and Refunding Bonds, William Beaumont Hospital Obligated Group, Tender Option Bond Trust 1010, 5.329%, 11/01/35 (Mandatory put 7/01/15) (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,264,182</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">29,075</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Michigan</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">29,607,087</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Mississippi &#8211; 0.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">485</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mississippi Business Finance Corporation, Gulf Opportunity Zone Revenue Bonds, Roberts Hotel of Jackson, LLC Project, Series 2010, 8.500%, 2/01/30 (7)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/20 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">476,357</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mississippi Business Finance Corporation, Pollution Control Revenue Refunding Bonds, System Energy Resources Inc. Project, Series 1998, 5.875%, 4/01/22</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">502,500</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">985</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Mississippi</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">978,857</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Missouri &#8211; 0.6%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cole County Industrial Development Authority, Missouri, Revenue Bonds, Lutheran Senior Services &#8211; Heisinger Project, Series 2004, 5.500%, 2/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/14 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">955,120</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">640</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village of West County, Series 2007A, 5.375%, 9/01/21</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">643,859</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,640</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Missouri</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,598,979</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nebraska &#8211; 2.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Tender Option Bonds Trust 3853, 20.906%, 9/01/18 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,806,100</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Series 2007A, 5.000%, 2/01/43</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,121,140</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Nebraska</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,927,240</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nevada &#8211; 1.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran International Airport, Series 2010A, 5.000%, 7/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Aa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,062,760</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,670</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Las Vegas, Nevada, General Obligation Bonds, Tender Option Bond Trust 3265, 32.463%, 4/01/17 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,776,191</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,670</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Nevada</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,838,951</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New Jersey &#8211; 0.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">355</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, 6.250%, 9/15/29 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">337,051</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,750</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New Jersey Higher Education Assistance Authority, Student Loan Revenue Bonds, Series 2010-1A, 5.000%, 12/01/26</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,804,495</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,105</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total New Jersey</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,141,546</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New York &#8211; 3.0%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue Bonds, Barclays Center Project, Series 2009:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,100</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.000%, 7/15/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,143,549</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,225</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.250%, 7/15/40</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,277,099</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.375%, 7/15/43</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,077,060</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Monroe County Industrial Development Corporation, New York, Revenue Bonds, St. John Fisher College, Series 2011, 6.000%, 6/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,040,580</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">49</font></div>
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<br>
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Enhanced Municipal Value Fund (continued)</font></div>
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<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NEV</font></div>
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<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">New York </font>(continued)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">New York City Industrial Development Agency, New York, American Airlines-JFK International Airport Special Facility Revenue Bonds, Series 2005, 7.750%, 8/01/31 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/16 at 101.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,321,525</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">265</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">277,892</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,090</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total New York</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,137,705</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ohio &#8211; 5.7%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Senior Lien, Series 2007A-2:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.750%, 6/01/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,177,280</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.875%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,617,470</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">760</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement Services, Improvement Series 2010A, 5.625%, 7/01/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">765,632</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2011A, 5.750%, 11/15/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,233,550</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard, Refunding &amp; improvement Series 2010, 6.375%, 4/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,003,480</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,670</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Tender Option Bond Trust 3260, 29.369%, 5/01/29 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,251,694</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,200</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation Project, Series 2009E, 5.625%, 10/01/19</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,324,308</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,130</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Ohio</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,373,414</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Oklahoma &#8211; 0.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,155</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds, American Airlines Inc., Series 1992, 7.350%, 12/01/11</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">D</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,152,459</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Oregon &#8211; 0.8%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">185</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Oregon, Economic Development Revenue Bonds, Georgia Pacific Corp., Series 1995CLVII, 6.350%, 8/01/25 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">185,094</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">370</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Oregon, Economic Development Revenue Refunding Bonds, Georgia Pacific Corp., Series 1997-183, 5.700%, 12/01/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">369,993</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Port Astoria, Oregon, Pollution Control Revenue Bonds, James River Project, Series 1993, 6.550%, 2/01/15</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,501,500</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,055</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Oregon</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,056,587</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pennsylvania &#8211; 5.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Allegheny Country Industrial Development Authority, Allegheny County, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2009, 6.750%, 11/01/24</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,070,680</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,335</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Ohio Valley General Hospital, Series 2005A, 5.125%, 4/01/35</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ba2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,004,134</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social Ministries Project, Series 2009, 6.125%, 1/01/29</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,547,610</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Hazleton Health Services Authority, Pennsylvania, Hospital Revenue Bonds, Hazleton-Saint Joseph Medical Center, Series 1996, 6.200%, 7/01/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000,270</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Luzerne County Industrial Development Authority, Pennsylvania, Guaranteed Lease Revenue Bonds, Series 2009, 7.750%, 12/15/27</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000,680</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,125</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue Bonds, New Regional Medical Center Project, Tender Option Bond Trust 62B, 18.380%, 8/01/38 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,458,945</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">50</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">25</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Northumberland County Industrial Development Authority, Pennsylvania, Facility Revenue Bonds, NHS Youth Services Inc., Series 2002, 7.500%, 2/15/29</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/13 at 102.00</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
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<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
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<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,814</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pennsylvania Economic Development Finance Authority, Solid Waste Disposal Revenue Bonds (USG Corporation Project) Series 1999, 6.000%, 6/01/31 (Alternative Minimum Tax)</font></div>
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<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
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<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">762,640</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
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<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pennsylvania Economic Development Financing Authority, Sewage Sludge Disposal Revenue Bonds, Philadelphia Biosolids Facility Project, Series 2009, 6.250%, 1/01/32</font></div>
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<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/20 at 100.00</font></div>
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<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,052,080</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,200</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Edinboro University Foundation Student Housing Project, Series 2010, 5.800%, 7/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,201,512</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">525</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2010-110A, 4.750%, 10/01/25</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">528,596</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E, 0.000%, 12/01/30</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/27 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,365,560</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,710</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Pennsylvania</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,011,521</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Puerto Rico &#8211; 0.4%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005C, 5.500%, 7/01/27 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,035,610</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tennessee &#8211; 0.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Memphis Health, Educational and Housing Facilities Board, Tennessee, Multifamily Housing Revenue Bonds, Goodwill Village Apartments, Series 2010A, 5.500%, 12/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">476,150</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">50</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006A, 5.250%, 9/01/24</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ba3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">49,611</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">155</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C, 5.000%, 2/01/24</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">153,960</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">705</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Tennessee</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">679,721</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Texas &#8211; 4.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,050</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Houston Higher Education Finance Corporation, Texas, Education Revenue Bonds, Cosmos Foundation, Inc., Series 2011A, 6.500%, 5/15/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,118,271</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">255</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Houston, Texas, Airport System Special Facilities Revenue Bonds, Continental Airlines Inc. &#8211; Airport Improvement Project, Series 1997C, 6.125%, 7/15/27 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/12 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">B&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">232,756</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">La Vernia Higher Education Financing Corporation, Texas, Charter School Revenue Bonds, Kipp Inc., Series 2009A, 6.250%, 8/15/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,115,840</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,800</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">North Texas Tollway Authority, Special Projects System Revenue Bonds, Tender Option Bond Trust 11947, 24.905%, 3/01/19 (IF)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,601,540</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tarrant County Cultural and Educational Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, C.C. Young Memorial Home Project, Series 2009-B2, 6.500%, 2/15/14</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">994,230</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">455</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior Lien Series 2008D, 6.250%, 12/15/26</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">480,794</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">810</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Series 2009, 6.875%, 12/31/39</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">866,465</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Series 2010, 7.000%, 6/30/34</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,078,970</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas Public Finance Authority, Charter School Finance Corporation Revenue Bonds, Idea Public School Project, Series 2007A, 5.000%, 8/15/37 &#8211; ACA Insured</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,285,080</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, Second Tier Series 2002A, 0.000%, 8/15/37 &#8211; AMBAC Insured</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/12 at 22.71</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">924,150</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,870</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Texas</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,698,096</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="right" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">51</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Enhanced Municipal Value Fund (continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="15%" style="TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">NEV</font></div>
</td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Portfolio of Investments</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">October 31, 2011</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Utah &#8211; 0.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Utah State Charter School Finance Authority, Charter School Revenue Bonds, Paradigm High School, Series 2010A, 6.250%, 7/15/30</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">938,130</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vermont &#8211; 1.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vermont Educational and Health Buildings Financing Agency, Revenue Bonds, Vermont Law School Project, Series 2011A:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.125%, 1/01/28</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,053,270</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,760</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.250%, 1/01/33</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,844,850</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,760</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Vermont</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,898,120</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Virgin Islands &#8211; 0.1%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate Lien Series 2009A, 6.000%, 10/01/39</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">256,873</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Virginia &#8211; 0.5%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">105</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Bedford County Industrial Development Authority, Virginia, Industrial Development Revenue Refunding Bonds, Nekoosa Packaging Corporation, Series 1999, 6.300%, 12/01/25 (Alternative Minimum Tax)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/11 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa3</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">105,049</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1, 5.000%, 6/01/47</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/17 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BB&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,226,240</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,105</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Virginia</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,331,289</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington &#8211; 2.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2009A, 6.000%, 1/01/33</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,082,620</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2011A, 5.375%, 1/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,022,920</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Washington State Higher Education Facilities Authority, Revenue Bonds, Whitworth University, Series 2009, 5.625%, 10/01/40</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa1</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,035,660</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,000</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Washington</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,141,200</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">West Virginia &#8211; 0.2%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">585</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Thomas Health System, Inc., Series 2008, 6.500%, 10/01/38</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/18 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">551,070</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wisconsin &#8211; 5.3%</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,065</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Milwaukee Redevelopment Authority, Wisconsin, Schlitz Park Mortgage Revenue Refunding Bonds, Series 1998A, 5.500%, 1/01/17 (Alternative Minimum Tax)</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,051,751</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Oneida Tribe of Indians of Wisconsin, Retail Sales Revenue Bonds, Series 2010, 144A, 6.500%, 2/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/19 at 102.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,812,025</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit College, Series 2010A, 6.000%, 6/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/15 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Baa2</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,011,290</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Beloit Health System, Inc., Series 2010B, 5.000%, 4/01/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/20 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">A&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">468,780</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Froedtert Community Health, Inc. Obligated Group, Tender Option Bond Trust 3592, 22.277%, 4/01/17 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">No Opt. Call</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,029,050</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,000</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Healthcare System, Series 2006, 5.250%, 8/15/21</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,043,620</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan Services Inc., Series 2006B, 5.125%, 8/15/30</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/16 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB+</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">452,880</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,500</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Tender Option Bond Trust 10B, 32.670%, 5/01/36 (IF) (4)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/19 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">AA&#8211;</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,308,700</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,065</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Wisconsin</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,178,096</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">52</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="45%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Optional Call</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount (000)</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Description (1)</font></div>
</td>
<td align="right" valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Provisions (2)</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ratings (3)</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wyoming &#8211; 0.8%</font></div>
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<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Wyoming Community Development Authority, Student Housing Revenue Bonds, CHF-Wyoming, L.L.C. &#8211; University of Wyoming Project, Series 2011:</font></div>
</td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">500</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.250%, 7/01/31</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">518,296</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,600</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.500%, 7/01/43</font></div>
</td>
<td align="right" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/21 at 100.00</font></div>
</td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">BBB</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,660,241</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,100</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Wyoming</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,178,537</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid; BORDER-TOP: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">284,509</font></div>
</td>
<td valign="top" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Investments (cost $267,720,428) &#8211; 105.5%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">283,860,486</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Floating Rate Obligations &#8211; (6.7)%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(18,000,000</font></div>
</td>
<td align="left" valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other Assets Less Liabilities &#8211; 1.2% (8)</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,189,014</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="14%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="45%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net Assets &#8211; 100%</font></div>
</td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">269,049,500</font></div>
</td>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Investments in Derivatives at October 31, 2011:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Forward Swaps outstanding:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Counterparty</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Notional</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pay/Receive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Floating Rate</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Floating Rate</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Index</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fixed Rate</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(Annualized)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fixed Rate</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Payment</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Frequency</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Effective</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date (9)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Termination</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unrealized</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Appreciation</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(Depreciation)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="10%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Barclays Bank PLC</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,000,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Receive</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3-Month USD-LIBOR</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.288</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Semi-Annually</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/30/12</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/30/41</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,004,211</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="10%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Barclays Bank PLC</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,500,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Receive</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3-Month USD-LIBOR</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.756</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Semi-Annually</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/23/12</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/23/30</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,779,100</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="10%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Morgan Stanley</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Receive</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3-Month USD-LIBOR</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.431</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Semi-Annually</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/17/12</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/17/30</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,145,462</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Morgan Stanley</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,000,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Receive</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3-Month USD-LIBOR</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.476</font></div>
</td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Semi-Annually</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/24/12</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/24/30</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,174,978</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(5,103,751</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">All percentages shown in the Portfolio of Investments are based on net assets.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Optional Call Provisions (not covered by the report of independent registered public accounting firm): Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(3)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratings (not covered by the report of independent registered public accounting firm): Using the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives and/or inverse floating rate transactions.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(5)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(6)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For fair value measurement disclosure purposes, investment categorized as Level 3. See Notes to Financial Statements, Footnote 1 &#8211; General Information and Significant Accounting Policies, Investment Valuation for more information.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(7)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing security, in the case of a bond, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund&#8217;s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund&#8217;s custodian to cease accruing additional income on the Fund&#8217;s records.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(8)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other Assets Less Liabilities includes the net Unrealized Appreciation (Depreciation) of derivative instruments as noted within Investments in Derivatives at October 31, 2011.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(9)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Effective date represents the date on which both the Fund and Counterparty commence interest payment accruals on each forward swap contract.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">N/R</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Not rated.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(IF)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Inverse floating rate investment.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(UB)</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Footnote 1 &#8211; General Information and Significant Accounting Policies, Inverse Floating Rate Securities for more information.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">144A</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.</font></div>
</td>
</tr><tr>
<td valign="top" width="10%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">USD-LIBOR</font></div>
</td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">United States Dollar-London Inter-Bank Offered Rate.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">53</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Statement of</font></div>
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Assets &amp; Liabilities</font></div>
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2011</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
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<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Assets</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments, at value (cost $1,889,650,736, $177,758,979, $86,954,471 and $267,720,428, respectively)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,912,576,675</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">205,508,501</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">90,355,365</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">283,860,486</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cash</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,131,887</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,382,556</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">373,591</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,103,651</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Receivables:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Interest</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">30,088,847</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,961,679</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,481,540</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,992,585</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments sold</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,448,071</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">45,231</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">995,706</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shares sold through shelf offering</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,687</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Deferred shelf offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">257,465</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other assets</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">230,016</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,466</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,173</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,359</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid; PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total assets</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,961,741,648</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">213,855,202</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">92,257,900</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">293,980,787</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Liabilities</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Floating rate obligations</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">38,250,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,335,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,000,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Unrealized depreciation on forward swaps</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,103,751</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Dividends payable</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,501,777</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">808,428</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">341,133</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,475,870</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Accrued expenses:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Management fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">852,211</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">114,792</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">47,058</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">230,721</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shelf offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">73,425</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">833,014</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">58,547</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">46,855</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">120,945</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total liabilities</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">46,510,427</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">981,767</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,770,046</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">24,931,287</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net assets</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,915,231,221</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">212,873,435</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">88,487,854</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">269,049,500</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shares outstanding</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">198,446,292</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,921,057</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,227,986</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,256,862</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net asset value per share outstanding</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.65</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16.47</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.75</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13.97</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net assets consist of:</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shares, $.01 par value per share</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,984,463</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">129,211</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">82,280</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">192,569</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Paid-in surplus</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,870,305,339</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">185,083,767</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">85,540,309</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">275,090,286</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Undistributed (Over-distribution of) net investment income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,956,050</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">152,061</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000,893</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,700,988</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Accumulated net realized gain (loss)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,059,430</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(241,126</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,536,522</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(19,970,650</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net unrealized appreciation (depreciation)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22,925,939</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">27,749,522</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,400,894</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,036,307</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net assets</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,915,231,221</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">212,873,435</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">88,487,854</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">269,049,500</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Authorized shares</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">350,000,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Unlimited</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">200,000,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Unlimited</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">54</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<br>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Statement of </font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Operations</font></div>
</td>
</tr></table>
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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Year Ended </font>October 31, 2011</div>
</div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Investment Income</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">107,819,535</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,465,046</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,468,285</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22,404,970</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Management fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,938,613</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,301,363</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">539,031</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,560,603</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shareholders&#8217; servicing agent fees and expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">296,518</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">234</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,796</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">179</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Interest expense</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">167,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,131</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">215,861</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Custodian&#8217;s fees and expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">300,991</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">36,180</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">22,918</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">53,497</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Directors&#8217;/Trustees&#8217; fees and expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">52,159</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,705</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,402</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,293</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Professional fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">541,253</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21,714</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,558</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">114,071</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shareholders&#8217; reports &#8211; printing and mailing expenses</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">394,765</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">34,228</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20,628</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,338</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Stock exchange listing fees</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">69,496</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,465</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,077</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,194</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investor relations expense</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">178,815</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,217</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,856</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">21,366</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">57,323</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,583</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,292</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,571</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total expenses before custodian fee credit</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,996,933</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,436,689</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">662,689</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,042,973</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Custodian fee credit</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(9,587</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(989</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,235</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2,231</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net expenses</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,987,346</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,435,700</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">661,454</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,040,742</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net investment income (loss)</font></font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">95,832,189</font></font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,029,346</font></font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,806,831</font></font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,364,228</font></font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Realized and Unrealized Gain (Loss)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net realized gain (loss) from:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,965,310</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(241,625</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">288,183</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(16,367,767</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forward swaps</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(674,000</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Change in net unrealized appreciation (depreciation) of:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(43,836,146</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4,641,048</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,082,473</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,972,054</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forward swaps</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2,979,589</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net realized and unrealized gain (loss)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(32,870,836</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4,882,673</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(794,290</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(17,049,302</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net increase (decrease) in net assets from operations</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">62,961,353</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,146,673</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,012,541</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,314,926</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">55</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<br>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Statement of</font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Changes in Net Assets</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="29%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value (NUV)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="29%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value 2 (NUW)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/10</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/10</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Operations</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net investment income (loss)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">95,832,189</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">96,440,907</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,029,346</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,585,054</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net realized gain (loss) from:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,965,310</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,976,235</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(241,625</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">284,334</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forward swaps</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Change in net unrealized appreciation (depreciation) of:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(43,836,146</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">55,534,861</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4,641,048</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,974,062</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forward swaps</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net increase (decrease) in net assets from operations</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">62,961,353</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">155,952,003</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,146,673</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,843,450</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Distributions to Shareholders</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">From net investment income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(92,912,256</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(92,765,935</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(11,593,491</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(11,478,612</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">From accumulated net realized gains</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4,178,829</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,004,873</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(284,128</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(123,156</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Decrease in net assets from distributions to shareholders</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(97,091,085</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(93,770,808</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(11,877,619</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(11,601,768</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Capital Share Transactions</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Proceeds from sale of shares, net of offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Proceeds from shelf offering, net of offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,306,239</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net proceeds from shares issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,960,267</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,881,917</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,458,520</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,195,521</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net increase (decrease) in net assets from capital share transactions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,266,506</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9,881,917</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,458,520</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,195,521</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net increase (decrease) in net assets</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(28,863,226</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">72,063,112</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(3,272,426</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,437,203</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net assets at the beginning of period</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,944,094,447</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,872,031,335</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">216,145,861</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">205,708,658</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net assets at the end of period</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,915,231,221</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,944,094,447</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">212,873,435</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">216,145,861</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Undistributed (Over-distribution of) net investment income at the end of period</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12,956,050</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,460,022</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">152,061</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(280,802</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">56</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
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</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
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</div>

<br>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Statement of</font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
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</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="24%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Income (NMI)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="24%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced Municipal</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Value (NEV</font>)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/10</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/10</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Operations</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net investment income (loss)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,806,831</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,754,459</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,364,228</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">18,156,627</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net realized gain (loss) from:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">288,183</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">55,664</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(16,367,767</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2,117,482</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forward swaps</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(674,000</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(858,333</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Change in net unrealized appreciation (depreciation) of:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,082,473</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,560,727</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,972,054</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23,896,826</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forward swaps</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2,979,589</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2,124,162</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net increase (decrease) in net assets from operations</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,012,541</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8,370,850</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,314,926</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">36,953,476</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Distributions to Shareholders</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">From net investment income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4,686,031</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4,643,516</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(17,947,395</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(17,538,148</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">From accumulated net realized gains</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(17,298</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Decrease in net assets from distributions to shareholders</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4,686,031</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4,643,516</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(17,947,395</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(17,555,446</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Capital Share Transactions</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Proceeds from sale of shares, net of offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20,013,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Proceeds from shelf offering, net of offering costs</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net proceeds from shares issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">152,884</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">398,065</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">712,711</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net increase (decrease) in net assets from capital share transactions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">152,884</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">398,065</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20,725,711</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net increase (decrease) in net assets</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(520,606</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,125,399</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(15,632,469</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,123,741</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net assets at the beginning of period</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">89,008,460</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">84,883,061</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">284,681,969</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">244,558,228</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net assets at the end of period</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">88,487,854</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">89,008,460</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">269,049,500</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">284,681,969</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Undistributed (Over-distribution of)net investment income at the end of period</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,000,893</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">922,772</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,700,988</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,307,825</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">57</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
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<br>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Financial</font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Highlights</font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="left" valign="top" width="82%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Selected data for a share outstanding throughout each period:</font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="15%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="6%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td colspan="7" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Investment Operations</font></font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td colspan="7" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Less Distributions</font></font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="6%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="5%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="5%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="5%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Premium</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Investment</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Capital</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Offering</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Shelf</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Asset</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Market</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">(Loss</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Gain (Loss</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Gains</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Costs</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Offering</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="8" valign="bottom" width="15%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Municipal Value (NUV)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="8" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">Year Ended 10/31:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.82</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.48</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.16</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
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<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.32</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.47</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.02</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.49</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">**</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$&#160;&#160; </font>9.65</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.66</font></div>
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<td align="left" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2010</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.51</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.49</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.30</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.79</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.47</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.48</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.82</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.02</font></div>
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<td align="left" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2009</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">8.60</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.49</font></div>
</td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.89</font></div>
</td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">1.38</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.47</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.47</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
</td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
</td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.51</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.91</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td align="left" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2008</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.12</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.47</font></div>
</td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(1.49</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(1.02</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.47</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
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<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.03</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.50</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">8.65</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.39</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.46</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.23</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.47</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.03</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.50</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.12</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.49</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
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</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2011</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">16.85</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.39</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.54</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.90</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.92</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">16.47</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">17.06</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">16.20</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.91</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.65</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">1.56</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.90</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.01</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.91</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td align="right" valign="bottom" width="6%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">16.85</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">17.57</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2009(d)</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">14.33</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.49</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">1.94</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2.43</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.53</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.53</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="6%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.03</font></div>
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<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">16.20</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
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</td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Based</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ending</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">on</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net</font></font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio</font> </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Market</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Assets</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
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</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">
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</div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Turnover</font> </font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">(a)</font></font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(a)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(000</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expenses</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(c)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income (Loss</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Rate</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="15%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="15%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.61</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.53</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$ </font>1,915,231</font></div>
</div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.65</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.15</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.18</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8.44</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,944,094</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.61</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.05</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20.68</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16.51</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,872,031</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.66</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.49</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(3.93</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(10.51</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,684,418</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.65</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.86</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1.90</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.22</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,974,535</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.62</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.53</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="15%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="15%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2.93</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.61</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">212,873</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.71</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.92</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17.22</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.91</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">216,146</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.69</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.55</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9.27</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16.92</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">205,709</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.67</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.84</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="5%">
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</td>
<td align="left" valign="top" width="95%">
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</td>
</tr><tr>
<td align="left" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
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</tr><tr>
<td align="left" valign="top" width="5%">
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</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratios do not reflect the effect of custodian fee credits earned on the Fund&#8217;s net cash on deposit with the custodian bank, where applicable.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(c)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Footnote 1 &#8211; General Information and Significant Accounting Policies, Inverse Floating Rate Securities as follows:</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="75%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value (NUV)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Year Ended 10/31:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2011</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.01</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.01</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2009</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.02</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2008</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.04</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2007</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.03</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value 2 (NUW)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Year Ended 10/31:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2011</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2009(d)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(d)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the period February 25, 2009 (commencement of operations) through October 31, 2009.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Annualized.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">**</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Rounds to less than $.01 per share.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">See accompanying notes to financial statements.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="95%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">59</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<br>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="TEXT-ALIGN: left; BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Financial</font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="TEXT-ALIGN: left; BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Highlights</font> (continued)</font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="82%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Selected data for a share outstanding throughout each period:</font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="19%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="4%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td colspan="7" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Investment Operations</font></font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
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</tr><tr>
<td valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Beginning</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Investment</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Unrealized</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Net</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">through</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Net</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Ending</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Net Asset</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: arial; FONT-SIZE: 9pt">Gain</font></font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Investment</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Capital</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Offering</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Shelf</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Asset</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Market</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">(Loss</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">&#160;(Loss</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Gains</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Costs</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Offering</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="7" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Municipal Income (NMI)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td align="left" colspan="7" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">Year Ended 10/31:</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td align="left" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2011</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.84</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.58</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.10</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.48</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.57</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.57</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.75</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">$</font></div>
</td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">11.13</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2010</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.38</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.58</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.45</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">1.03</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.57</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.57</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.84</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">11.24</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td align="left" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2009</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.28</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.57</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">1.06</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">1.63</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.53</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.53</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.38</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.66</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td align="left" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2008</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.77</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.53</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(1.52</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.99</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.50</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.50</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.28</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">9.89</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td align="left" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2007</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">11.04</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.52</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.28</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.24</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.51</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.51</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.77</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">10.49</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td align="left" valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="left" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td align="right" valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160;</font></td>
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<td align="left" colspan="7" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt; FONT-WEIGHT: bold">Enhanced Municipal Value (NEV)</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.12</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.93</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">13.70</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">13.73</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">.94</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">1.02</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">1.96</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.91</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">**</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">(.91</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">)</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">**</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#8212;</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">14.78</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
<td align="right" valign="bottom" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">14.56</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">2009(d)</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 8pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">on</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Market</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Asset</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Assets</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Investment</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Turnover</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(a)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(a)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(000</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
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<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expenses</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(c)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income (Loss</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Rate</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="6%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.62</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.73</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$&#160;&#160; </font>88,488</font></div>
</div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.77</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.61</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11.14</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10.12</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.85</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5.08</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">87,424</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.86</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.76</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6</font></div>
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<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">269,050</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">284,682</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6.64</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="6%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4.15</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">244,558</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.02</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.25</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(a)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Return Based on Market Value is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not annualized.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="left" valign="top" width="95%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total Return Based on Net Asset Value is the combination of changes in net asset value, reinvested dividend income at net asset value and reinvested capital gains distributions at net asset value, if any. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending net asset value. The actual reinvest price for the last dividend declared in the period may often be based on the Fund&#8217;s market price (and not its net asset value), and therefore may be different from the price used in the calculation. Total returns are not annualized.</font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(b)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Ratios do not reflect the effect of custodian fee credits earned on the Fund&#8217;s net cash on deposit with the custodian bank, where applicable.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(c)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund and the effect of the interest expense and fees paid on borrowings, where applicable, as described in Footnote 1 &#8211; General Information and Significant Accounting Policies, Inverse Floating Rate Securities and Footnote 8 &#8211; Borrowing Arrangements, as follows:</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="75%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Income (NMI)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Year Ended 10/31:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2011</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.01</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.02</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2009</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.03</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2008</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.10</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2007</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.11</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced Municipal Value (NEV)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Year Ended 10/31:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2011</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.08</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="75%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2010</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.04</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2009(d)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(d)</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the period September 25, 2009 (commencement of operations) through October 31, 2009.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Annualized.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">General Information</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The funds covered in this report and their corresponding New York Stock Exchange (&#8220;NYSE&#8221;) symbols are Nuveen Municipal Value Fund, Inc. (NUV), Nuveen Municipal Value Fund 2 (NUW), Nuveen Municipal Income Fund, Inc. (NMI) and Nuveen Enhanced Municipal Value Fund (NEV) (each a &#8220;Fund&#8221; and collectively, the &#8220;Funds&#8221;). The Funds are registered under the Investment Company Act of 1940, as amended, as closed-end, registered investment companies.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Effective January 1, 2011, the Funds&#8217; adviser, Nuveen Asset Management, a wholly-owned subsidiary of Nuveen Investments, Inc. (&#8220;Nuveen&#8221;), changed its name to Nuveen Fund Advisors, Inc. (the &#8220;Adviser&#8221;). Concurrently, the Adviser formed a wholly-owned subsidiary, Nuveen Asset Management, LLC (the &#8220;Sub-Adviser&#8221;), to house its portfolio management capabilities and to serve as the Funds&#8217; sub-adviser, and the Funds&#8217; portfolio managers became employees of the Sub-Adviser. This allocation of responsibilities between the Adviser and the Sub-Adviser affects each of the Funds. The Adviser will compensate the Sub-Adviser for the portfolio management services it provides to the Funds from each Fund&#8217;s management fee.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund&#8217;s primary investment objective is to provide current income exempt from regular federal income tax by investing primarily in a portfolio of municipal obligations issued by state and local government authorities or certain U.S. territories.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Significant Accounting Policies</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The following is a summary of significant accounting policies followed by the Funds in the preparation of their financial statements in accordance with U.S. generally accepted accounting principles (&#8220;U.S. GAAP&#8221;).</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Investment Valuation</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Prices of municipal bonds and forward swap contracts are provided by a pricing service approved by the Funds&#8217; Board of Directors/Trustees. These securities are generally classified as Level 2 for fair value measurement purposes. When price quotes are not readily available (which is usually the case for municipal bonds) the pricing service establishes a security&#8217;s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor&#8217;s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer, or market activity provided by the Adviser. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Certain securities may not be able to be priced by the pre-established pricing methods as described above. Such securities may be valued by the Funds&#8217; Board of Directors/Trustees or its designee at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a pricing service is unable to provide a market price; securities whose trading has been formally suspended; debt securities that have gone into default and for which there is no current market quotation; a security whose market price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of a Fund&#8217;s net asset value (as may be the case in non-U.S. markets on which the security is primarily traded) or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the pricing service, is not deemed to reflect the security&#8217;s fair value. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor&#8217;s credit characteristics considered relevant. These securities are generally classified as Level 2 or Level 3 depending on the priority of the significant inputs. Regardless of the method employed to value a particular security, all valuations are subject to review by the Funds&#8217; Board of Directors/Trustees or its designee.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Refer to Footnote 2 &#8211; Fair Value Measurements for further details on the leveling of securities held by the Funds as of the end of the reporting period.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Investment Transactions</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Investment transactions are recorded on a trade date basis. Realized gains and losses from transactions are determined on the specific identification method, which is the same basis used for federal income tax purposes. Investments purchased on a when-issued/delayed delivery basis may have extended settlement periods. Any investments so purchased are subject to market fluctuation during this period. The Funds have instructed the custodian to segregate assets with a current value at least equal to the amount of the when-issued/delayed delivery purchase commitments. At October 31, 2011, there were no such outstanding commitments in any of the Funds.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Investment Income</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Investment income, which reflects the amortization of premiums and includes accretion of discounts for financial reporting purposes, is recorded on an accrual basis. Investment income also includes paydown gains and losses, if any.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Professional Fees</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Professional fees presented on the Statement of Operations consist of legal fees incurred in the normal course of operations, audit fees, tax consulting fees and, in some cases, workout expenditures. Workout expenditures are incurred in an attempt to protect or enhance an investment, or to pursue other claims or legal actions on behalf of Fund shareholders.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and to otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required. Furthermore, each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal income tax, to retain such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the Funds are subject to federal taxation.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">For all open tax years and all major taxing jurisdictions, management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore, management of the Funds is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Dividends and Distributions to Shareholders</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Dividends from net investment income are declared monthly. Net realized capital gains and/or market discount from investment transactions, if any, are distributed to shareholders at least annually. Furthermore, capital gains are distributed only to the extent they exceed available capital loss carryforwards.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Distributions to shareholders of net investment income, net realized capital gains and/or market discount, if any, are recorded on the ex-dividend date. The amount and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Shelf Offering and Shelf Offering Costs</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the fiscal year ended October 31, 2011, Municipal Value (NUV) filed a registration statement with the Securities and Exchange Commission (&#8220;SEC&#8221;) authorizing the Fund to issue an additional 19.6 million shares through a shelf offering, which became effective with the SEC on December 8, 2010. Under this equity shelf program, the Fund, subject to market conditions, may raise additional capital from time to time in varying amounts and offering methods at a net price at or above the Fund&#8217;s net asset value per share.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the fiscal year ended October 31, 2011, Municipal Value (NUV) issued 253,486 shares, receiving offering proceeds, net of offering costs of $2,306,239. Initial costs incurred by Municipal Value (NUV) in connection with the shelf offering of its shares are recorded as a deferred charge, which are amortized over the period such additional shares are sold not to exceed the one-year life of the shelf offering period. Ongoing shelf offering costs incurred by the Fund are expensed as incurred.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the fiscal year ended October 31, 2011, Nuveen Securities, LLC, the Fund&#8217;s broker-dealer and a wholly-owned subsidiary of Nuveen, received commissions of $4,664, related to the sale of shares as a result of the Municipal Value (NUV) shelf offering.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Inverse Floating Rate Securities</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. In turn, this trust (a) issues floating rate certificates, in face amounts equal to some fraction of the deposited bond&#8217;s par amount or market value, that typically pay short-term tax-exempt interest rates to third parties, and (b) issues to a long-term investor (such as one of the Funds) an inverse floating rate certificate (sometimes referred to as an &#8220;inverse floater&#8221;) that represents all remaining or residual interest in the trust. The income received by the inverse floater holder varies inversely with the short-term rate paid to the floating rate certificates&#8217; holders, and in most circumstances the inverse floater holder bears substantially all of the underlying bond&#8217;s downside investment risk and also benefits disproportionately from any potential appreciation of the underlying bond&#8217;s value. The price of an inverse floating rate security will be more volatile than that of the underlying bond because the interest rate is dependent on not only the fixed coupon rate of the</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Notes to</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Financial Statements</font> (continued)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">underlying bond but also on the short-term interest paid on the floating rate certificates, and because the inverse floating rate security essentially bears the risk of loss of the greater face value of the underlying bond.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">A Fund may purchase an inverse floating rate security in a secondary market transaction without first owning the underlying bond (referred to as an &#8220;externally-deposited inverse floater&#8221;), or instead by first selling a fixed-rate bond to a broker-dealer for deposit into the special purpose trust and receiving in turn the residual interest in the trust (referred to as a &#8220;self-deposited inverse floater&#8221;). The inverse floater held by a Fund gives the Fund the right (a) to cause the holders of the floating rate certificates to tender their notes at par, and (b) to have the broker transfer the fixed-rate bond held by the trust to the Fund, thereby collapsing the trust. An investment in an externally-deposited inverse floater is identified in the Portfolio of Investments as &#8220;(IF) &#8211; Inverse floating rate investment.&#8221; An investment in a self-deposited inverse floater is accounted for as a financing transaction. In such instances, a fixed-rate bond deposited into a special purpose trust is identified in the Portfolio of Investments as &#8220;(UB) &#8211; Underlying bond of an inverse floating rate trust reflected as a financing transaction,&#8221; with the Fund accounting for the short-term floating rate certificates issued by the trust as &#8220;Floating rate obligations&#8221; on the Statement of Assets and Liabilities. In addition, the Fund reflects in &#8220;Investment Income&#8221; the entire earnings of the underlying bond and recognizes the related interest paid to the holders of the short-term floating rate certificates as a component of &#8220;Interest expense&#8221; on the Statement of Operations. </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the fiscal year ended October 31, 2011, each Fund invested in externally-deposited inverse floaters and/or self-deposited inverse floaters. </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a &#8220;recourse trust&#8221; or &#8220;credit recovery swap&#8221;) (such agreements referred to herein as &#8220;Recourse Trusts&#8221;) with a broker-dealer by which a Fund agrees to reimburse the broker-dealer, in certain circumstances, for the difference between the liquidation value of the fixed-rate bond held by the trust and the liquidation value of the floating rate certificates issued by the trust plus any shortfalls in interest cash flows. Under these agreements, a Fund&#8217;s potential exposure to losses related to or on inverse floaters may increase beyond the value of a Fund&#8217;s inverse floater investments as a Fund may potentially be liable to fulfill all amounts owed to holders of the floating rate certificates. At period end, any such shortfall is recognized as &#8220;Unrealized depreciation on Recourse Trusts&#8221; on the Statement of Assets and Liabilities.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">At October 31, 2011, each Fund&#8217;s maximum exposure to externally-deposited Recourse Trusts was as follows:</font></div>

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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
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<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NUV</font></div>
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<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
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<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income (NMI</font></div>
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<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Maximum exposure to Recourse Trusts</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7,500,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23,665,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,005,000</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">152,485,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The average floating rate obligations outstanding and average annual interest rate and fees related to self-deposited inverse floaters during the fiscal year ended October 31, 2011, were as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

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<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income (NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NEV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Average floating rate obligations outstanding</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">38,250,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,335,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,594,521</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Average annual interest rate and fees</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.44</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.39</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.69</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Forward Swap Contracts</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund is authorized to enter into forward interest rate swap contracts consistent with their investment objectives and policies to reduce, increase or otherwise alter its risk profile or to alter its portfolio characteristics (i.e. duration, yield curve positioning and credit quality). </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund is subject to interest rate risk in the normal course of pursuing its investment objectives. Each Fund&#8217;s use of forward interest rate swap transactions is intended to help the Fund manage its overall interest rate sensitivity, either shorter or longer, generally to more closely align the Fund&#8217;s interest rate sensitivity with that of the broader market. Forward interest rate swap transactions involve a Fund&#8217;s agreement with a counterparty to pay, in the future, a fixed or variable rate payment in exchange for the counterparty paying a Fund a variable or fixed rate payment, the accruals for which would begin at a specified date in the future (the &#8220;effective date&#8221;). The amount of the payment obligation is based on the notional amount of the swap contract and the termination date of the swap (which is akin to a bond&#8217;s maturity). The value of a Fund&#8217;s swap commitment would increase or decrease based primarily on the extent to which long-term interest rates for bonds having a maturity of the swap&#8217;s termination date increases or decreases. Forward interest rate swap contracts are valued daily. The net amount recorded on these transactions for each counterparty is recognized on the Statement of Assets and Liabilities as a component of &#8220;Unrealized appreciation or depreciation on forward swaps&#8221; with the change during the fiscal period recognized on the Statement of Operations as a component of &#8220;Change in net unrealized appreciation (depreciation) of forward swaps.&#8221; </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund may terminate a swap contract prior to the effective date, at which point a realized gain or loss is recognized. When a forward swap is terminated, it ordinarily does not involve the delivery of securities or other underlying assets or principal, but rather is settled in cash on a net basis. Net realized gains and losses during the fiscal period are recognized on the Statement of Operations as a component of &#8220;Net realized gain (loss) from forward swaps.&#8221; Each Fund intends, but is not obligated, to terminate its forward swaps before the effective date. Accordingly, the risk of loss with respect to the swap counterparty on such transactions is limited to the credit risk associated with a counterparty failing to honor its commitment to pay any realized gain to the Fund upon termination.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">64</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the fiscal year ended October 31, 2011, Enhanced Municipal Value (NEV) entered into forward interest rate swap contracts to reduce the duration of the Fund&#8217;s portfolio. The average notional amount of forward interest rate swap contracts outstanding during the fiscal year ended October 31, 2011, was as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="75%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="75%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Average notional amount of forward interest rate swap contracts outstanding*</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,750,000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The average notional amount is calculated based on the outstanding notional at the beginning of the fiscal year and at the end of each fiscal quarter within the current fiscal year.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Market and Counterparty Credit Risk</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund&#8217;s exposure to counterparty credit risk in respect to these financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities. Futures contracts, when applicable, expose a Fund to minimal counterparty credit risk as they are exchange traded and the exchange&#8217;s clearinghouse, which is counterparty to all exchange traded futures, guarantees the futures contracts against default.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the predetermined threshold amount.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Zero Coupon Securities</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund is authorized to invest in zero coupon securities. A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Tax-exempt income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Custodian Fee Credit</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund has an arrangement with the custodian bank whereby certain custodian fees and expenses are reduced by net credits earned on each Fund&#8217;s cash on deposit with the bank. Such deposit arrangements are an alternative to overnight investments. Credits for cash balances may be offset by charges for any days on which a Fund overdraws its account at the custodian bank.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Indemnifications</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Under the Funds&#8217; organizational documents, their officers and directors/trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition, in the normal course of business, the Funds enter into contracts that provide general indemnifications to other parties. The Funds&#8217; maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Use of Estimates</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results may differ from those estimates.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">65</font></div>
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<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<br>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Notes to</font></div>
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Financial Statements</font> (continued)</font></div>
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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2. Fair Value Measurements</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Fair value is defined as the price that the Funds would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity&#8217;s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:</font></div>

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<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Level 1 &#8211; </font></td>
<td align="left" valign="top" width="89%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Quoted prices in active markets for identical securities.</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Level&#160;2 &#8211; </font></td>
<td align="left" valign="top" width="89%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="6%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Level&#160;3 &#8211; </font></td>
<td align="left" valign="top" width="89%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Significant unobservable inputs (including management&#8217;s assumptions in determining the fair value of investments).</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of each Fund&#8217;s fair value measurements as of October 31, 2011:</font></div>

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<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="33%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value (NUV)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 2</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments:</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,911,014,275</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,562,400</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,912,576,675</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="33%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value 2 (NUW)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 2</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments:</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">205,508,501</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">205,508,501</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="33%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Income (NMI)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 2</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments:</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">90,318,315</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">37,050</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">90,355,365</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="33%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced Municipal Value (NEV)</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 1</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 2</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Investments:</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="33%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">283,169,632</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">690,854</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">283,860,486</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="33%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Derivatives:</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forward Swaps*</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(5,103,751</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(5,103,751</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="33%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">278,065,881</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">690,854</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">278,756,735</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Represents net unrealized appreciation (depreciation) as reported in the Fund&#8217;s Portfolio of Investments.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The following is a reconciliation of the Funds&#8217; Level 3 investments held at the beginning and end of the measurement period:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income (NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NEV</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr>
<td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Level 3</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Bonds</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Balance at the beginning of year</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">26,021</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">189,235</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Gains (losses):</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net realized gains (losses)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(18,646</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net change in unrealized appreciation (depreciation)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">29,675</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(109,070</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Purchases at cost</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">40,689</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sales at proceeds</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net discounts (premiums)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Transfers in to</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,562,400</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">570,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Transfers out of</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Balance at the end of year</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,562,400</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">37,050</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">690,854</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Change in net unrealized appreciation (depreciation) during the year of Level 3 securities held as of October 31, 2011</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(686,704</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">29,675</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(666,638</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the fiscal year ended October 31, 2011, the Funds recognized no significant transfers to or from Level 1 or Level 2. Transfers in and/or out of Level 3 are shown using end of period values.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">66</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3. Derivative Instruments and Hedging Activities</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Funds&#8217; investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes. For additional information on the derivative instruments in which each Fund was invested during and at the end of the reporting period, refer to the Portfolios of Investments, Financial Statements and Footnote 1 - General Information and Significant Accounting Policies.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The following table presents the fair value of all derivative instruments held by the Funds as of October 31, 2011, the location of these instruments on the Statement of Assets and Liabilities and the primary underlying risk exposure. Enhanced Municipal Value (NEV) invested in derivative instruments during the fiscal year ended October 31, 2011.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced Municipal Value (NEV)</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="10" valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Location on the Statement of Assets and Liabilities</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="19%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Underlying</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Derivative</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="29%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Asset Derivatives</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="30%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Liability Derivatives</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Risk Exposure</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Instrument</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Location</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="16%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Location</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" colspan="2" valign="top" width="20%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Interest Rate</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Forward Swaps</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Unrealized appreciation</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Unrealized depreciation</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="19%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="13%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">on forward swaps*</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="16%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">on forward swaps*</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,103,751</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Represents cumulative gross unrealized appreciation (depreciation) of forward swap contracts as reported in the Portfolio of Investments.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The following tables present the amount of net realized gain (loss) and change in net unrealized appreciation (depreciation) recognized for the fiscal year ended October 31, 2011, on derivative instruments, as well as the primary risk exposure associated with each.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="85%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="85%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="85%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net Realized Gain (Loss) from Forward Swaps</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Risk Exposure</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Interest Rate</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(674,000</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="85%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="85%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="85%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Change in Net Unrealized Appreciation (Depreciation) of Forward Swaps</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Risk Exposure</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="85%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Interest Rate</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2,979,589</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">4. Fund Shares</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Since the inception of the Funds&#8217; repurchase programs, the Funds have not repurchased any of their outstanding shares.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Transactions in shares were as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value (NUV)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value 2 (NUW)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/10</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/10</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shares sold</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shares sold through shelf offering*</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">253,486</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="51%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shares issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">311,681</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,023,405</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">91,219</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">133,359</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="51%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Weighted average premium per shelf offering share sold*</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1.15</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="51%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Income (NMI)</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="4" valign="bottom" width="21%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced Municipal</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value (NEV)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year Ended</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/10</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/11</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">10/31/10</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shares sold</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,400,000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="51%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Shares issued to shareholders due to reinvestment of distributions</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,327</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">37,308</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">49,862</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="86%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Municipal Value (NUV) is the only Fund authorized to issue additional shares through a shelf offering.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">67</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<br>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Notes to</font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Financial Statements</font> (continued)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5. Investment Transactions</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Purchases and sales (including maturities but excluding short-term investments and derivative transactions, where applicable) during the fiscal year ended October 31, 2011, were as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Purchases</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">188,420,521</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,959,613</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,151,478</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">106,464,479</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="51%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Sales and maturities</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">219,615,129</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,729,160</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">13,834,649</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">88,507,660</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">6. Income Tax Information</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset values of the Funds.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">At October 31, 2011, the cost and unrealized appreciation (depreciation) of investments (excluding investments in derivatives, where applicable), as determined on a federal income tax basis, were as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="47%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">`</font></div>
</td>
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<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="47%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="47%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="47%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Cost of investments</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,851,048,385</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">177,088,714</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">83,445,274</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">250,274,280</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="47%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Gross unrealized:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="47%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Appreciation</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">114,961,406</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,734,569</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,930,319</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">20,929,854</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Depreciation</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(91,683,192</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(314,782</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1,355,449</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(5,343,650</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net unrealized appreciation (depreciation) of investments</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">23,278,214</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">28,419,787</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,574,870</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">15,586,204</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Permanent differences, primarily due to expiration of capital loss carryforwards, federal taxes paid, taxable market discount and distribution character reclassifications, resulted in reclassifications among the Funds&#8217; components of net assets at October 31, 2011, the Funds&#8217; tax year-end, as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="47%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="47%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="47%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="47%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="47%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Paid-in-surplus</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,555</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(6,468,523</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,739</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="47%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Undistributed (Over-distribution of) net investment income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(423,904</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2,992</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(42,679</font></div>
</td>
<td align="left" valign="bottom" width="2%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(23,670</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="47%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Accumulated net realized gain (loss)</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">423,904</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">437</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6,511,203</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,931</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The tax components of undistributed net tax-exempt income, net ordinary income and net long-term capital gains at October 31, 2011, the Funds&#8217; tax year-end, were as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="35%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Undistributed net tax-exempt income *</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">14,403,774</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">450,823</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,212,659</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3,878,477</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Undistributed net ordinary income **</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,218,088</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">49</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5,089</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">39,926</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="35%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Undistributed net long-term capital gains</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10,779,851</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
</td>
<td align="left" valign="top" width="86%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on October 3, 2011, paid on November 1, 2011.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">**</font></div>
</td>
<td align="left" valign="top" width="86%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">68</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The tax character of distributions paid during the Funds&#8217; tax years ended October 31, 2011 and October 31, 2010, was designated for purposes of the dividends paid deduction as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="TEXT-ALIGN: right">&#160;</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="43%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2011</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="43%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Distributions from net tax-exempt income ***</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">92,772,285</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,586,650</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,685,350</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,870,368</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="43%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Distributions from net ordinary income **</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">138,634</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">36,024</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font> </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="43%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Distributions from net long-term capital gains ****</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,159,024</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">248,104</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="51%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="51%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2010</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUV</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Distributions from net tax-exempt income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">92,351,671</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">11,468,610</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4,637,655</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,074,626</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Distributions from net ordinary income **</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">374,351</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">123,156</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">17,298</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="51%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Distributions from net long-term capital gains</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,004,873</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">**</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">***</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Funds hereby designate these amounts paid during the fiscal year ended October 31, 2011, as Exempt Interest Dividends.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">****</font></div>
</td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Funds designate as a long-term capital gain dividend, pursuant to the Internal Revenue Code Section 852(b)(3), the amount necessary to reduce earnings and profits of the Funds related to net capital gain to zero for the tax year ended October 31, 2011.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">At October 31, 2011, the Funds&#8217; tax year-end, the following Funds had unused capital loss carryforwards available for federal income tax purposes to be applied against future capital gains, if any. If not applied, the carryforwards will expire as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">&#160;</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced</font></font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value 2</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NUW</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI</font></div>
</td>
<td align="left" valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NEV</font></div>
</td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></div>
</td>
</tr><tr>
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Expiration:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="9%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2012</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">916,759</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2013</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">165,764</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2016</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">164,175</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2017</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">289,822</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2018</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2,946,811</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">October 31, 2019</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">241,126</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#8212;</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">16,146,849</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="53%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Total</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">241,126</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1,536,520</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">19,093,660</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the Funds&#8217; tax year ended October 31, 2011, the following Fund utilized its capital loss carryforwards as follows:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="75%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="75%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(NMI)</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="bottom" width="75%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Utilized capital loss carryforwards</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">300,257</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">At October 31, 2011, the Funds&#8217; tax year end, $6,499,129 of Municipal Income&#8217;s (NMI) capital loss carryforward expired.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">7. Management Fees and Other Transactions with Affiliates</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund&#8217;s management fee consists of two components &#8211; a fund-level fee, based only on the amount of assets within the Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables Fund shareholders to benefit from growth in the assets within their Fund as well as from growth in the amount of complex-wide assets managed by the Adviser.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The annual fund-level fee for Municipal Value (NUV), payable monthly, is calculated according to the following schedule:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="71%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="22%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="71%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="19%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value (NUV</font> <font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></td>
</tr><tr>
<td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average Daily Net Assets</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="19%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund-Level Fee Rate</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="71%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the first $500 million</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="22%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1500</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="71%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $500 million</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="22%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1250</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="71%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For net assets over $1 billion</font></div>
</td>
<td valign="bottom" width="3%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1000</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="95%" style="TEXT-ALIGN: right">
<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">69</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<br>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Notes to</font></div>
</td>
</tr><tr>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%" style="BORDER-LEFT: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="82%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Financial Statements</font> (continued)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In addition, Municipal Value (NUV) pays an annual management fee, payable monthly, based on gross interest income (excluding interest on bonds underlying a &#8220;self-deposited inverse floater&#8221; trust that is attributed to the Fund over and above the net interest earned on the inverse floater itself) as follows:</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="69%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="26%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="69%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="27%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value (NUV</font><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></td>
</tr><tr>
<td align="left" valign="bottom" width="69%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Gross Interest Income</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Gross Income Fee Rate</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the first $50 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.125</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $50 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4.000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For gross income over $100 million</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3.875</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The annual fund-level fee for Municipal Value 2 (NUW), Municipal Income (NMI) and Enhanced Municipal Value (NEV), payable monthly, is calculated according to the following schedules:</font></div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="69%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="26%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="bottom" width="69%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="27%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Value 2 (NUW</font><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></td>
</tr><tr>
<td align="left" valign="bottom" width="69%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average Daily Managed Assets*</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund-Level Fee Rate</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the first $125 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4000</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $125 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.3875</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $250 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.3750</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $500 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.3625</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $1 billion</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.3500</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For managed assets over $2 billion</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.3375</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="69%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="27%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Municipal Income (NMI)</font></div>
</td>
</tr><tr>
<td align="left" valign="bottom" width="69%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average Daily Net Assets</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund-Level Fee Rate</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the first $125 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4500</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $125 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4375</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $250 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4250</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $500 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4125</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $1 billion</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $3 billion</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.3875</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For net assets over $5 billion</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.3750</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="bottom" width="69%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="27%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Enhanced Municipal Value (NEV</font><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">)</font></td>
</tr><tr>
<td align="left" valign="bottom" width="69%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Average Daily Managed Assets*</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="27%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund-Level Fee Rate</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the first $125 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4500</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $125 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4375</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $250 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4250</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $500 million</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4125</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="69%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the next $1 billion</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.4000</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="69%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For managed assets over $2 billion</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="26%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.3875</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">70</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The annual complex-level fee for each Fund, payable monthly, is calculated according to the following schedule:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Complex-Level Managed Asset Breakpoint Level*</font></div>
</td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" colspan="2" valign="bottom" width="29%" style="BORDER-BOTTOM: black 1px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Effective Rate at Breakpoint Level</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$55 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.2000</font></div>
</td>
<td align="left" valign="bottom" width="1%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">%</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$56 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1996</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$57 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1989</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$60 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1961</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$63 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1931</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$66 billion</font></div>
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<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1900</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$71 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1851</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$76 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1806</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$80 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1773</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$91 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1691</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$125 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1599</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$200 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1505</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$250 billion</font></div>
</td>
<td valign="bottom" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1469</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">$300 billion</font></div>
</td>
<td valign="bottom" width="5%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="29%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">.1445</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">*</font></div>
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<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">For the fund-level and complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the funds&#8217; use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust&#8217;s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based upon the aggregate daily managed assets of all Nuveen funds that constitute &#8220;eligible assets.&#8221; Eligible assets do not include assets attributable to investments in other Nuveen funds or assets in excess of $2 billion added to the Nuveen fund complex in connection with the Adviser&#8217;s assumption of the management of the former First American Funds effective January 1, 2011. As of October 31, 2011, the complex-level fee rate for each of these Funds was .1759%.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. The Adviser is responsible for each Fund&#8217;s overall strategy and asset allocation decisions. The Adviser has entered into sub-advisory agreements with the Sub-Adviser under which the Sub-Adviser manages the investment portfolios of the Funds. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Funds pay no compensation directly to those of its directors/trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to the Funds from the Adviser or its affiliates. The Board of Directors/Trustees has adopted a deferred compensation plan for independent directors/trustees that enables directors/trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">8. Borrowing Arrangements</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">As part of its investment strategy, Enhanced Municipal Value (NEV) may use borrowings to employ leverage. On May 18, 2010, the Fund entered into a $75 million (maximum commitment amount) committed 364-day unsecured line of credit (&#8220;Committed Unsecured Line&#8221;) with its custodian bank. Interest charged on the used portion of the Committed Unsecured Line is calculated at a rate per annum equal to the higher of the overnight Federal Funds rate or the overnight London Inter-bank Offered Rate (&#8220;LIBOR&#8221;) plus 1.25%. In addition, the Fund accrues a commitment fee of .15% per annum on the unused portion of the Committed Unsecured Line. The Fund also paid a .10% one time closing fee on the Committed Unsecured Line, which was fully expensed during the fiscal year ended October 31, 2010.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During May 17, 2011, the Fund entered into a new 364-day unsecured line of credit. The Fund paid a one-time closing fee of .05% on the maximum commitment amount and accrues a commitment fee of .125% on the unused portion of the Committed Unsecured Line. All other terms remain unchanged. </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">During the fiscal year ended October 31, 2011, the Fund did not utilize its Committed Unsecured Line. Commitment and closing fees incurred on the Committed Unsecured Line are recognized as a component of &#8220;Interest expense&#8221; on the Statement of Operations.</font></div>

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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Notes to</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Financial Statements</font> (continued)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">9. New Accounting Pronouncements</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Fair Value Measurements and Disclosures</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">On May 12, 2011, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) No. 2011-04 (&#8220;ASU No. 2011-04&#8221;) modifying Topic 820, <font style="FONT-STYLE: italic; DISPLAY: inline">Fair Value Measurements and Disclosures</font>. At the same time, the International Accounting Standards Board (&#8220;IASB&#8221;) issued International Financial Reporting Standard (&#8220;IFRS&#8221;) 13, Fair Value Measurement. The objective of the FASB and IASB is convergence of their guidance on fair value measurements and disclosures. Specifically, ASU No. 2011-04 requires reporting entities to disclose i) the amounts of any transfers between Level 1 and Level 2 and the reasons for the transfers and ii) for Level 3 fair value measurements, a) quantitative information about significant unobservable inputs used, b) a description of the valuation processes used by the reporting entity and c) a narrative description of the sensitivity of the fair value measurement to changes in unobservable inputs if a change in those inputs might result in a significantly higher or lower fair value measurement. The effective date of the ASU No. 2011-04 is for interim and annual periods beginning after December 15, 2011. At this time, management is evaluating the implications of this guidance and the impact it will have on the financial statement amounts and footnote disclosures, if any.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Annual Investment Management</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Agreement Approval Process</font> (Unaudited)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Board of Trustees or Directors (as the case may be) (each, a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Board</font>&#8221; and each Trustee or Director, a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Board Member</font>&#8221;) of the Funds, including the Board Members who are not parties to the Funds&#8217; advisory or sub-advisory agreements or &#8220;interested persons&#8221; of any such parties (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Independent Board Members</font>&#8221;), is responsible for approving the advisory agreements (each, an &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Investment Management Agreement</font>&#8221;) between each Fund and Nuveen Fund Advisors, Inc. (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Advisor</font>&#8221;) and the sub-advisory agreements (each a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Sub-Advisory Agreement</font>&#8221;) between the Advisor and Nuveen Asset Management, LLC (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Sub-Advisor</font>&#8221;) (the Investment Management Agreements and the Sub-Advisory Agreements are referred to collectively as the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Advisory Agreements</font>&#8221;) and their periodic continuation. Pursuant to the Investment Company Act of 1940, as amended (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">1940 Act</font>&#8221;), the Board is generally required to consider the continuation of advisory agreements and sub-advisory agreements on an annual basis. Accordingly, at an in-person meeting held on May 23-25, 2011 (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">May Meeting</font>&#8221;), the Board, including a majority of the Independent Board Members, considered and approved the continuation of the Advisory Agreements for the Funds for an additional one-year period.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In preparation for their considerations at the May Meeting, the Board requested and received extensive materials prepared in connection with the review of the Advisory Agreements. The materials provided a broad range of information regarding the Funds, the Advisor and the Sub-Advisor (the Advisor and the Sub-Advisor are collectively, the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Fund Advisers</font>&#8221; and each, a &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Fund Adviser</font>&#8221;). As described in more detail below, the information provided included, among other things, a review of Fund performance, including Fund investment performance assessments against peer groups and appropriate benchmarks, a comparison of Fund fees and expenses relative to peers, a description and assessment of shareholder service levels for the Funds, a summary of the performance of certain service providers, a review of product initiatives and shareholder communications and an analysis of the Advisor&#8217;s profitability with comparisons to comparable peers in the managed fund business. As part of their annual review, the Board also held a separate meeting on April 19-20, 2011, to review the Funds&#8217; investment performance and consider an analysis provided by the Advisor of the Sub-Advisor which generally evaluated the Sub-Advisor&#8217;s investment team, investment mandate, organizational structure and history, investment philosophy and process, performance of the applicable Fund, and significant changes to the foregoing. As a result of their review of the materials and discussions, the Board presented the Advisor with questions and the Advisor responded.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The materials and information prepared in connection with the review of the Advisory Agreements at the May Meeting supplemented the information provided to the Board during the year. In this regard, throughout the year, the Board, acting directly or through</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">its committees, regularly reviews the performance and various services provided by the Advisor and, since the internal restructuring described in Section A below, the Sub-Advisor. The Board meets at least quarterly as well as at other times as the need arises. At its quarterly meetings, the Board reviews reports by the Advisor which include, among other things, Fund performance, a review of the investment teams and compliance reports. The Board also meets with key investment personnel managing the Fund portfolios during the year. In addition, the Board continues its program of seeking to visit each sub-advisor to the Nuveen funds at least once over a multiple year rotation, meeting with key investment and business personnel. The Board also met with State Street Bank &amp; Trust Company, the Funds&#8217; accountant and custodian, in 2010. The Board considers factors and information that are relevant to its consideration of the renewal of the Advisory Agreements at these meetings held throughout the year. Accordingly, the Board considered the information provided and knowledge gained at these meetings when performing its review at the May Meeting of the Advisory Agreements. The Independent Board Members are assisted throughout the process by independent legal counsel who provided materials describing applicable law and the duties of directors or trustees in reviewing advisory contracts and met with the Independent Board Members in executive sessions without management present.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Board considered all factors it believed relevant with respect to each Fund, including among other factors: (a) the nature, extent and quality of the services provided by the Fund Advisers, (b) the investment performance of the Fund and Fund Advisers, (c) the advisory fees and costs of the services to be provided to the Funds and the profitability of the Fund Advisers, (d) the extent of any economies of scale, (e) any benefits derived by the Fund Advisers from the relationship with the Fund and (f) other factors. Each Board Member may have accorded different weight to the various factors in reaching his or her conclusions with respect to a Fund&#8217;s Advisory Agreements. The Independent Board Members did not identify any single factor as all important or controlling. The Independent Board Members&#8217; considerations were instead based on a comprehensive consideration of all the information presented. The principal factors considered by the Board and its conclusions are described below.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In considering renewal of the Advisory Agreements, the Independent Board Members considered the nature, extent and quality of the Fund Adviser&#8217;s services, including advisory services and the resulting Fund performance and administrative services. The Independent Board Members reviewed materials outlining, among other things, the Fund Adviser&#8217;s organization and business; the types of services that the Fund Adviser or its affiliates provide to the Funds; the performance record of the applicable Fund (as described in further detail below); and any initiatives Nuveen had taken for the applicable fund product line.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In considering advisory services, the Board recognized that the Advisor provides various oversight, administrative, compliance and other services for the Funds and the Sub-</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Advisor provides the portfolio investment management services to the Funds. The Board recognized that Nuveen engaged in an internal restructuring in 2010 pursuant to which portfolio management services the Advisor had provided directly to the Funds were transferred to the Sub-Advisor, a newly-organized, wholly-owned subsidiary of the Advisor consisting of largely the same investment personnel. Accordingly, in reviewing the portfolio management services provided to each Fund, the Board reviewed the materials provided by the Nuveen Investment Services Oversight Team analyzing, among other things, the Sub-Advisor&#8217;s investment team and changes thereto, organization and history, assets under management, Fund objectives and mandate, the investment team&#8217;s philosophy and strategies in managing the Fund, developments affecting the Sub-Advisor or Fund and Fund performance. The Independent Board Members also reviewed portfolio manager compensation arrangements to evaluate each Fund Adviser&#8217;s ability to attract and retain high quality investment personnel, preserve stability, and reward performance but not provide an incentive to take undue risks. In addition, the Board considered the Advisor&#8217;s execution of its oversight responsibilities over the Sub-Advisor. Given the importance of compliance, the Independent Board Members also considered Nuveen&#8217;s compliance program, including the report of the chief compliance officer regarding the Funds&#8217; compliance policies and procedures.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In addition to advisory services, the Board considered the quality and extent of administrative and other non-investment advisory services the Advisor and its affiliates provide to the Funds, including product management, investment services (such as oversight of investment policies and procedures, risk management, and pricing), fund administration, oversight of service providers, shareholder services, administration of Board relations, regulatory and portfolio compliance, legal support, managing leverage and promoting an orderly secondary market for common shares.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In reviewing the services provided, the Board also reviewed materials describing various notable initiatives and projects the Advisor performed in connection with the closed-end fund product line. These initiatives included continued activities to refinance auction rate preferred securities; ongoing services to manage leverage that has become increasingly complex; continued secondary market offerings and share repurchases for certain funds; and continued communications efforts with shareholders, fund analysts and financial advisers. With respect to the latter, the Independent Board Members noted Nuveen&#8217;s continued commitment to supporting the secondary market for the common shares of its closed-end funds through a comprehensive secondary market communication program designed to raise investor and analyst awareness and understanding of closed-end funds. Nuveen&#8217;s support services included, among other things: continuing communications in support of refinancing efforts related to auction rate preferred securities; participating in conferences; communicating continually with closed-end fund analysts covering the Nuveen funds; providing marketing for the closed-end funds; share purchases; and maintaining and enhancing a closed-end fund website.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Based on their review, the Independent Board Members found that, overall, the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement were satisfactory.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Board, including the Independent Board Members, reviewed and considered the performance history of each Fund over various time periods. The Board reviewed, among other things, each Fund&#8217;s historic investment performance as well as information comparing the Fund&#8217;s performance information with that of other funds (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Performance Peer Group</font>&#8221;) based on data provided by an independent provider of mutual fund data and with recognized and/or customized benchmarks.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Board reviewed reports, including a comprehensive analysis of the Funds&#8217; performance and the applicable investment team. In this regard, the Board reviewed each Fund&#8217;s total return information compared to its Performance Peer Group for the quarter, one-, three- and five-year periods ending December 31, 2010 and for the same periods ending March 31, 2011 (or for the periods available for the Funds which did not exist for part of the foregoing time frame). In addition, the Board reviewed each Fund&#8217;s total return information compared to recognized and/or customized benchmarks for the quarter, one- and three-year periods ending December 31, 2010 and for the same periods ending March 31, 2011 (or for the periods available for the Funds which did not exist for part of the foregoing time frame). The Independent Board Members also reviewed historic premium and discount levels, including a summary of actions taken to address or discuss other developments affecting the secondary market discounts of various funds. This information supplemented the Fund performance information provided to the Board at each of its quarterly meetings.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In reviewing performance comparison information, the Independent Board Members recognized that the usefulness of the comparisons of the performance of certain funds with the performance of their respective Performance Peer Group may be limited because the Performance Peer Group may not adequately represent the objectives and strategies of the applicable funds or may be limited in size or number. In this regard, the Independent Board Members noted that the Performance Peer Groups of the Nuveen Municipal Income Fund, Inc. (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Municipal Income Fund</font>&#8221;), the Nuveen Municipal Value Fund, Inc. (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Municipal Value Fund</font>&#8221;) and the Nuveen Municipal Value Fund 2 (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Municipal Value Fund 2</font>&#8221;) were classified as having significant differences from such Funds based on various considerations such as special fund objectives, potential investable universe and the composition of the peer set (<font style="FONT-STYLE: italic; DISPLAY: inline">e.g.</font>, the number and size of competing funds and number of competing managers). The Independent Board Members also noted that the investment experience of a particular shareholder in the Nuveen funds will vary depending on when such shareholder invests in the applicable fund, the class held (if multiple classes are offered) and the performance of the fund (or respective class) during that shareholder&#8217;s investment period.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Independent Board Members observed that the Municipal Value Fund 2 and the Nuveen Enhanced Municipal Value Fund (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Enhanced Municipal Value Fund</font>&#8221;) were relatively new with a shorter performance history available, thereby limiting the ability to make a meaningful assessment of performance. With respect to the Municipal Income Fund and the Municipal Value Fund which, as noted above, had significant differences with their Performance Peer Groups, the Independent Board Members considered each such Fund&#8217;s performance compared to its benchmark. In this regard, the Independent Board Members noted that (a) the Municipal Value Fund underperformed its benchmark in the one- and three-year periods and (b) the Municipal Income Fund outperformed its benchmark in the one- and three-year periods.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">With respect to any Nuveen funds that underperformed their peers and/or benchmarks from time to time, the Board monitors such funds closely and considers any steps necessary or appropriate to address such issues.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Based on their review, the Independent Board Members determined that each Fund&#8217;s investment performance had been satisfactory.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Board evaluated the management fees and expenses of each Fund reviewing, among other things, such Fund&#8217;s gross management fees, net management fees and net expense ratios in absolute terms as well as compared to the fee and expenses of a comparable universe of funds based on data provided by an independent fund data provider (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Peer Universe</font>&#8221;) and in certain cases, to a more focused subset of funds in the Peer Universe (the &#8220;<font style="FONT-STYLE: italic; DISPLAY: inline">Peer Group</font>&#8221;) and any expense limitations.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Independent Board Members further reviewed the methodology regarding the construction of the applicable Peer Universe and Peer Group (if any). In reviewing the comparisons of fee and expense information, the Independent Board Members took into account that in certain instances various factors such as: the asset level of a fund relative to peers; the limited size and particular composition of the Peer Universe or Peer Group; the investment objectives of the peers; expense anomalies; changes in the funds comprising the Peer Universe or Peer Group from year to year; levels of reimbursement; the timing of information used; and the differences in the type and use of leverage may impact the comparative data, thereby limiting the ability to make a meaningful comparison with peers, including for the Municipal Value Fund, the Municipal Income Fund and the Municipal Value Fund 2.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">In reviewing the fee schedule for a Fund, the Independent Board Members also considered the fund-level and complex-wide breakpoint schedules (described in further detail below) and any fee waivers and reimbursements provided by Nuveen (applicable, in particular, for certain closed-end funds launched since 1999). In reviewing fees and expenses, the Board considered the expenses and fees to be higher if they were over 10 basis points higher, slightly higher if they were 6 to 10 basis points higher, in line if they were within 5 basis points higher than the peer</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Annual Investment Management Agreement</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">average and below if they were below the peer average of the Peer Group (if available) or Peer Universe if there was no separate Peer Group.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Independent Board Members noted that the Municipal Income Fund, the Municipal Value Fund 2 and the Enhanced Municipal Value Fund had higher net management fees than their peer average and a slightly higher or higher net expense ratio compared to their peer average (although the Board, as noted above, recognized the limits on the comparisons of the applicable peer group for the Municipal Income Fund and the Municipal Value Fund 2). In addition, they noted that the Municipal Value Fund had a net management fee slightly higher than its peer average but a net expense ratio below its peer average.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Based on their review of the fee and expense information provided, the Independent Board Members determined that each Fund&#8217;s management fees were reasonable in light of the nature, extent and quality of services provided to the Fund.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The Independent Board Members further reviewed information regarding the nature of services and fee rates offered by the Advisor to other clients, including municipal separately managed accounts and passively managed exchange traded funds (ETFs) sub-advised by the Advisor. In evaluating the comparisons of fees, the Independent Board Members noted that the fee rates charged to the Funds and other clients vary, among other things, because of the different services involved and the additional regulatory and compliance requirements associated with registered investment companies, such as the Funds. Accordingly, the Independent Board Members considered the differences in the product types, including, but not limited to, the services provided, the structure and operations, product distribution and costs thereof, portfolio investment policies, investor profiles, account sizes and regulatory requirements. The Independent Board Members noted, in particular, that the range of services provided to the Funds (as discussed above) is much more extensive than that provided to separately managed accounts. Given the inherent differences in the products, particularly the extensive services provided to the Funds, the Independent Board Members believe such facts justify the different levels of fees.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">In considering the fees of the Sub-Advisor, the Independent Board Members also considered the pricing schedule or fees that the Sub-Advisor charges for similar investment management services for other Nuveen funds.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">3.</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold">Profitability of Fund Advisers</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">In conjunction with its review of fees, the Independent Board Members also considered the profitability of Nuveen for its advisory activities (which incorporated Nuveen&#8217;s wholly-owned affiliated sub-advisers) and its financial condition. The Independent Board Members reviewed the revenues and expenses of Nuveen&#8217;s advisory activities for the last two years, the allocation methodology used in preparing the profitability data and an analysis of the key drivers behind the changes in revenues and expenses that impacted profitability in 2010. The Independent Board Members noted this information supplemented the profitability information</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">requested and received during the year to help keep them apprised of developments affecting profitability (such as changes in fee waivers and expense reimbursement commitments). In this regard, the Independent Board Members noted that they have an Independent Board Member serve as a point person to review and keep them apprised of changes to the profitability analysis and/or methodologies during the year. The Independent Board Members also considered Nuveen&#8217;s revenues for advisory activities, expenses, and profit margin compared to that of various unaffiliated management firms with similar amounts of assets under management and relatively comparable asset composition prepared by Nuveen.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">In reviewing profitability, the Independent Board Members recognized the subjective nature of determining profitability which may be affected by numerous factors including the allocation of expenses. Further, the Independent Board Members recognized the difficulties in making comparisons as the profitability of other advisers generally is not publicly available and the profitability information that is available for certain advisers or management firms may not be representative of the industry and may be affected by, among other things, the adviser&#8217;s particular business mix, capital costs, types of funds managed and expense allocations. </font><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Notwithstanding the foregoing, the Independent Board Members reviewed Nuveen&#8217;s methodology and assumptions for allocating expenses across product lines to determine profitability. In reviewing profitability, the Independent Board Members recognized Nuveen&#8217;s investment in its fund business. Based on their review, the Independent Board Members concluded that the Advisor&#8217;s level of profitability for its advisory activities was reasonable in light of the services provided. </font></font>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">In evaluating the reasonableness of the compensation, the Independent Board Members also considered other amounts paid to a Fund Adviser by the Funds as well as any indirect benefits (such as soft dollar arrangements, if any) the Fund Adviser and its affiliates receive, or are expected to receive, that are directly attributable to the management of the Funds, if any. See Section E below for additional information on indirect benefits a Fund Adviser may receive as a result of its relationship with the Funds. Based on their review of the overall fee arrangements of each Fund, the Independent Board Members determined that the advisory fees and expenses of the respective Fund were reasonable.</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">With respect to economies of scale, the Independent Board Members have recognized the potential benefits resulting from the costs of a fund being spread over a larger asset base, although economies of scale are difficult to measure and predict with precision, particularly on a fund-by-fund basis. One method to help ensure the shareholders share in these benefits is to include breakpoints in the advisory fee schedule. Generally, management fees for funds in the Nuveen complex are comprised of a fund-level component and a complex-level component, subject to certain exceptions. Accordingly, the Independent Board Members reviewed and considered the applicable fund-level</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 18pt">Annual Investment Management Agreement</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Approval Process</font> (Unaudited) (continued)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">breakpoints in the advisory fee schedules that reduce advisory fees as asset levels increase. Further, the Independent Board Members noted that although closed-end funds may from time-to-time make additional share offerings, the growth of their assets will occur primarily through the appreciation of such funds&#8217; investment portfolio.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In addition to fund-level advisory fee breakpoints, the Board also considered the Funds&#8217; complex-wide fee arrangement. Pursuant to the complex-wide fee arrangement, the fees of the funds in the Nuveen complex are generally reduced as the assets in the fund complex reach certain levels. The complex-wide fee arrangement seeks to provide the benefits of economies of scale to fund shareholders when total fund complex assets increase, even if assets of a particular fund are unchanged or have decreased. The approach reflects the notion that some of Nuveen&#8217;s costs are attributable to services provided to all its funds in the complex and therefore all funds benefit if these costs are spread over a larger asset base.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Based on their review, the Independent Board Members concluded that the breakpoint schedules and complex-wide fee arrangement were acceptable and reflect economies of scale to be shared with shareholders when assets under management increase.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">E. Indirect Benefits</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In evaluating fees, the Independent Board Members received and considered information regarding potential &#8220;fall out&#8221; or ancillary benefits the respective Fund Adviser or its affiliates may receive as a result of its relationship with each Fund. In this regard, the Independent Board Members considered any revenues received by affiliates of the Advisor for serving as agent at Nuveen&#8217;s trading desk and as co-manager in initial public offerings of new closed-end funds.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">In addition to the above, the Independent Board Members considered whether the Fund Advisers received any benefits from soft dollar arrangements whereby a portion of the commissions paid by a Fund for brokerage may be used to acquire research that may be useful to the Fund Adviser in managing the assets of the Funds and other clients. The Independent Board Members recognized that each Fund Adviser has the authority to pay a higher commission in return for brokerage and research services if it determines in good faith that the commission paid is reasonable in relation to the value of the brokerage and research services provided. Nevertheless, the Independent Board Members noted that commissions are generally not paid in connection with municipal securities transactions typically executed on a principal basis.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Based on their review, the Independent Board Members concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable and within acceptable parameters.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">F. Other Considerations</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Independent Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members, including the Independent Board Members, unanimously concluded that the terms of each Advisory Agreement are fair and reasonable, that the respective Fund Adviser&#8217;s fees are reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Arial; FONT-SIZE: 18pt">Board Members &amp; Officers </font><font style="FONT-FAMILY: Arial; FONT-SIZE: 10pt">(</font>Unaudited)</font></div>

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<td align="left" valign="top" width="74%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">The management of the Funds, including general supervision of the duties performed for the Funds by the Adviser, is the responsibility of the board members of the Funds. The number of board members of the Funds is currently set at ten. None of the board members who are not &#8220;interested&#8221; persons of the Funds (referred to herein as &#8220;independent board members&#8221;) has ever been a director or employee of, or consultant to, Nuveen or its affiliates. The names and business addresses of the board members and officers of the Funds, their principal occupations and other affiliations during the past five years, the number of portfolios each oversees and other directorships they hold are set forth below.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name,</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Position(s) Held</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">with the Funds</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year First</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Elected or</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Appointed</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">and Term(1)</font></div>
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<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Occupation(s)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">including other</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Directorships</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">During Past 5 Years</font></div>
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<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">of Portfolios</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">in Fund Complex</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Overseen by</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Board Member</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td colspan="6" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Independent Board Members:</font></td>
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<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">ROBERT P. BREMNER</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; FONT-WEIGHT: bold">(2)</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/22/40</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chairman of</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">the Board</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">and Board Member</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1996</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class III</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Private Investor and Management Consultant; Treasurer and Director, Humanities Council of Washington, D.C.; Board Member, Independent Directors Council affiliated with the Investment Company Institute.</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">JACK B. EVANS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/22/48</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1999</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class III</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">President, The Hall-Perrine Foundation, a private philanthropic corporation (since 1996); Director and Chairman, United Fire Group, a publicly held company; member of the Board of Regents for the State of Iowa University System; Director, Source Media Group; Life Trustee of Coe College and the Iowa College Foundation; formerly, Director, Alliant Energy; formerly, Director, Federal Reserve Bank of Chicago; formerly, President and Chief Operating Officer, SCI Financial Group, Inc., a regional financial services firm.</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WILLIAM C. HUNTER</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/6/48</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2004</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class I</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Dean, Tippie College of Business, University of Iowa (since 2006); Director (since 2004) of Xerox Corporation; Director (since 2005), Beta Gamma Sigma International Honor Society; Director of Wellmark, Inc. (since 2009); formerly, Dean and Distinguished Professor of Finance, School of Business at the University of Connecticut (2003-2006); previously, Senior Vice President and Director of Research at the Federal Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007), Credit Research Center at Georgetown University.</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">DAVID J. KUNDERT</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; FONT-WEIGHT: bold">(2)</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">10/28/42</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2005</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class II</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Director, Northwestern Mutual Wealth Management Company; retired (since 2004) as Chairman, JPMorgan Fleming Asset Management, President and CEO, Banc One Investment Advisors Corporation, and President, One Group Mutual Funds; prior thereto, Executive Vice President, Banc One Corporation and Chairman and CEO, Banc One Investment Management Group; Member, Board of Regents, Luther College; member of the Wisconsin Bar Association; member of Board of Directors, Friends of Boerner Botanical Gardens; member of Board of Directors and Chair of Investment Committee, Greater Milwaukee Foundation.</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">WILLIAM J. SCHNEIDER</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; FONT-WEIGHT: bold">(2)</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/24/44</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1996</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class III</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chairman of Miller-Valentine Partners Ltd., a real estate investment company; formerly, Senior Partner and Chief Operating Officer (retired 2004) of Miller-Valentine Group; member, University of Dayton Business School Advisory Council;member, Mid-America Health System Board; formerly, member and chair, Dayton Philharmonic Orchestra Association; formerly, member, Business Advisory Council, Cleveland Federal Reserve Bank.</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="middle" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">82</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Birthdate</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&amp; Address</font></div>
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<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Position(s) Held</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">with the Funds</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year First</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Elected or</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Appointed</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">and Term<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></div>
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<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Occupation(s)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Including other</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Directorships</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">During Past 5 Years</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">of Portfolios</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">in Fund Complex</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Overseen by</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Board Member</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td colspan="6" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Independent Board Members:</font></td>
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<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">JUDITH M. STOCKDALE</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">12/29/47</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1997</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class I</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Executive Director, Gaylord and Dorothy Donnelley Foundation (since 1994); prior thereto, Executive Director, Great Lakes Protection Fund (1990-1994).</font></div>
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<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CAROLE E. STONE<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(2)</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/28/47</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2007</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class I</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Director, Chicago Board Options Exchange (since 2006); Director, C2 Options Exchange, Incorporated (since 2009); formerly, Commissioner, New York State Commission on Public Authority Reform (2005-2010); formerly, Chair, New York Racing Association Oversight Board (2005-2007).</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">VIRGINIA L. STRINGER</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/16/44</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2011</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member, Mutual Fund Directors Forum; Member, Governing Board, Investment Company Institute&#8217;s Independent Directors Council; governance consultant and non-profit board member; former Owner and President, Strategic Management Resources, Inc. a management consulting firm; previously, held several executive positions in general management, marketing and human resources at IBM and The Pillsbury Company; Independent Director, First American Fund Complex (1987-2010) and Chair (1997-2010).</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; <font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TERENCE J. TOTH<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(2)</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/29/59</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
</td>
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<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2008</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class II</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Director, Legal &amp; General Investment Management America, Inc. (since 2008); Managing Partner, Promus Capital (since 2008); formerly, CEO and President, Northern Trust Global Investments (2004-2007); Executive Vice President, Quantitative Management &amp; Securities Lending (2000-2004); prior thereto, various positions with Northern Trust Company (since 1994); member: Goodman Theatre Board (since 2004), Chicago Fellowship Board (since 2005) and Catalyst Schools of Chicago Board (since 2008); formerly, member: Northern Trust Mutual Funds Board (2005-2007), Northern Trust Global Investments Board (2004-2007), Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc. Board (2003-2007) and Northern Trust Hong Kong Board (1997-2004).</font></div>
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<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td colspan="6" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Interested Board Member:</font></td>
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<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="middle" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">JOHN P. AMBOIAN</font><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top; FONT-WEIGHT: bold">(3)</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/14/61</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Member</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2008</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class II</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chief Executive Officer and Chairman (since 2007) and Director (since 1999) of Nuveen Investments, Inc., formerly, President (1999-2007); Chief Executive Officer (since 2007) of Nuveen Investments Advisers, Inc.; Director (since 1998) formerly, Chief Executive Officer (2007-2010) of Nuveen Fund Advisors, Inc.</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="middle" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">83</font></div>
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<br>
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<br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: arial; FONT-SIZE: 18pt">Board Members &amp; Officers</font> (Unaudited) (continued)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Birthdate</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">and Address</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Position(s) Held</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">with the Funds</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year First</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Elected or</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Appointed<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(4)</font></font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Occupation(s)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">During Past 5 Years</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">of Portfolios</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">in Fund Complex</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Overseen</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">by Officer</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td colspan="6" valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Officers of the Funds:</font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">GIFFORD R. ZIMMERMAN</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">9/9/56</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chief</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Administrative</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Officer</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1988</font></div>
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<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Managing Director (since 2002), Assistant Secretary and Associate General Counsel of Nuveen Securities, LLC; Managing Director (since 2004) and Assistant Secretary (since 1994) of Nuveen Investments, Inc.; Managing Director (since 2002), Assistant Secretary (since 1997) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, Inc.; Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset Management, LLC (since 2011); Managing Director, Associate General Counsel and Assistant Secretary, of Symphony Asset Management LLC (since 2003); Vice President and Assistant Secretary of NWQ Investment Management Company, LLC (since 2002), Nuveen Investments Advisers Inc. (since 2002), Tradewinds Global Investors LLC, and Santa Barbara Asset Management, LLC (since 2006), Nuveen HydePark Group LLC and Nuveen Investment Solutions, Inc. (since 2007) and of Winslow Capital Management Inc. (since 2010); Chief Administrative Officer and Chief Compliance Officer (since 2010) of Nuveen Commodities Asset Management, LLC; Chartered Financial Analyst.</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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</tr><tr>
<td align="left" valign="top" width="5%">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WILLIAM ADAMS IV</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">6/9/55</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2007</font></div>
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<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Senior Executive Vice President, Global Structured Products (since 2010), formerly, Executive Vice President (1999-2010) of Nuveen Securities, LLC; Co-President of Nuveen Fund Advisors, Inc. (since 2011); formerly, Managing Director (2010-2011) of Nuveen Commodities Asset Management, LLC.</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">133</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CEDRIC H. ANTOSIEWICZ</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">1/11/62</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2007</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Managing Director of Nuveen Securities, LLC.</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">133</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MARGO L. COOK</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">4/11/64</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2009</font></div>
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<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Executive Vice President (since 2008) of Nuveen Investments, Inc. and of Nuveen Fund Advisors, Inc. (since 2011); Managing Director-Investment Services of Nuveen Commodities Asset Management, LLC (since August 2011), previously, Head of Institutional Asset Management (2007-2008) of Bear Stearns Asset Management; Head of Institutional Asset Management (1986-2007) of Bank of NY Mellon; Chartered Financial Analyst.</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
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<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">LORNA C. FERGUSON</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1998</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Managing Director (since 2005) of Nuveen Fund Advisors, Inc. and Nuveen Securities, LLC (since 2004).</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STEPHEN D. FOY</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">5/31/54</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">and Controller</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1998</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Senior Vice President (since 2010), formerly, Vice President (2005-2010) and Funds Controller of Nuveen Securities, LLC; Vice President of Nuveen Fund Advisors, Inc.; Chief Financial Officer of Nuveen Commodities Asset Management, LLC; (since 2010) Certified Public Accountant.</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td valign="middle" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">84</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
</td>
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</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>

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<hr style="COLOR: black" noshade size="2">
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Birthdate</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">and Address</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Position(s) Held</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">with the Funds</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year First</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Elected or</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Appointed<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(4)</font></font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Occupation(s)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">During Past 5 Years</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">of Portfolios</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">in Fund Complex</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Overseen</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">by Officer</font></div>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td colspan="6" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Officers of the Funds:</font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SCOTT S. GRACE</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/20/70</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">and Treasurer</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2009</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Managing Director, Corporate Finance &amp; Development, Treasurer (since 2009) of Nuveen Securities, LLC; Managing Director and Treasurer (since 2009) of Nuveen Fund Advisors, Inc., Nuveen Investment Solutions, Inc., Nuveen Investments Advisers, Inc., Nuveen Investments Holdings Inc. and (since 2011) Nuveen Asset Management, LLC; Vice President and Treasurer of NWQ Investment Management Company, LLC, Tradewinds Global Investors, LLC, Symphony Asset Management LLC and Winslow Capital Management, Inc.; Vice President of Santa Barbara Asset Management, LLC; formerly, Treasurer (2006-2009), Senior Vice President (2008-2009), previously, Vice President (2006-2008) of Janus Capital Group, Inc.; formerly, Senior Associate in Morgan Stanley&#8217;s Global Financial Services Group (2000-2003); Chartered Accountant Designation.</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
</td>
</tr><tr>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="16%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
</td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WALTER M. KELLY</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">2/24/70</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chief Compliance</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Officer and</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2003</font></div>
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<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Senior Vice President (since 2008) and Assistant Secretary (since 2003) of Nuveen Fund Advisors, Inc.</font></div>
</td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="middle" width="15%">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TINA M. LAZAR</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">8/27/61</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>
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<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2002</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Senior Vice President (since 2010), formerly, Vice President (2005-2010) of Nuveen Fund Advisors, Inc.</font></div>
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<td align="left" valign="middle" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">LARRY W. MARTIN</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">7/27/51</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President and</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Assistant Secretary</font></div>
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<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1997</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Senior Vice President (since 2010), formerly, Vice President (1993-2010), Assistant Secretary and Assistant General Counsel of Nuveen Securities, LLC; Senior Vice President (since 2011) of Nuveen Asset Management, LLC: Senior Vice President (since 2010), formerly, Vice President (2005-2010), and Assistant Secretary of Nuveen Investments, Inc.; Senior Vice President (since 2010), formerly Vice President (2005-2010), and Assistant Secretary (since 1997) of Nuveen Fund Advisors, Inc., Vice President and Assistant Secretary of Nuveen Investments Advisers Inc. (since 2002), NWQ Investment Management Company, LLC, Symphony Asset Management, LLC (since 2003), Tradewinds Global Investors, LLC, Santa Barbara Asset Management LLC (since 2006), Nuveen HydePark Group, LLC and Nuveen Investment Solutions, Inc. (since 2007), and of Winslow Capital Management, Inc. (since 2010); Vice President and Assistant Secretary of Nuveen Commodities Asset Management, LLC (since 2010).</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">KEVIN J. MCCARTHY</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/26/66</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">333 W. Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>
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<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">and Secretary</font></div>
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<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2007</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Managing Director (since 2008), formerly, Vice President (2007-2008), Nuveen Securities, LLC; Managing Director (since 2008), Assistant Secretary (since 2007) and Co-General Counsel (since 2011) of Nuveen Fund Advisors, Inc.; Managing Director, Assistant Secretary and Associate General Counsel (since 2011) of Nuveen Asset Management, LLC; Managing Director (since 2008), and Assistant Secretary, Nuveen Investment Holdings, Inc.; Vice President (since 2007) and Assistant Secretary of Nuveen Investments Advisers Inc., NWQ Investment Management Company, LLC, Tradewinds Global Investors LLC, NWQ Holdings, LLC, Symphony Asset Management LLC, Santa Barbara Asset Management, LLC, Nuveen HydePark Group, LLC, Nuveen Investment Solutions, Inc. (since 2007) and of Winslow Capital Management, Inc. (since 2010); Vice President and Secretary (since 2010) of Nuveen Commodities Asset Management, LLC; prior thereto, Partner, Bell, Boyd &amp; Lloyd LLP (1997-2007).</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="middle" width="4%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center; BORDER-LEFT: black 1px solid; BORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">85</font></div>
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<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
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<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Arial; FONT-SIZE: 18pt">Board Members &amp; Officers</font> (Unaudited) (continued)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Birthdate</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">and Address</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Position(s) Held</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">with the Funds</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year First</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Elected or</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Appointed<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(4)</font></font></div>
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<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Principal</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Occupation(s)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">During Past 5 Years</font></div>
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<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">of Portfolios</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">in Fund Complex</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Overseen</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">by Officer</font></div>
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<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td colspan="6" valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Officers of the Funds:</font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="40%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="15%"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160; </font></td>
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<td align="left" valign="top" width="5%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: arial">&#9632;</font></font></div>
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<td align="left" valign="top" width="16%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">KATHLEEN L. PRUDHOMME</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">3/30/53</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">901 Marquette Avenue</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Minneapolis, MN 55402</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Vice President and</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Assistant Secretary</font></div>
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<td align="left" valign="top" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2011</font></div>
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<td align="left" valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Managing Director, Assistant Secretary and Co-General Counsel (since 2011) of Nuveen Fund Advisors, Inc.; Managing Director, Assistant Secretary and Associate General Counsel (since 2011) of Nuveen Asset Management, LLC; Managing Director and Assistant Secretary (since 2011) of Nuveen Securities, LLC; formerly, Deputy General Counsel, FAF Advisors, Inc. (2004-2010).</font></div>
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<td align="left" valign="top" width="15%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">241</font></div>
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<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
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<td align="left" valign="top" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(1)</font></div>
</td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Board Members serve three year terms. The Board of Trustees is divided into three classes. Class I, Class II, and Class III, with each being elected to serve until the third succeeding annual shareholders&#8217; meeting subsequent to its election or thereafter in each case when its respective successors are duly elected or appointed. The first year elected or appointed represents the year in which the board member was first elected or appointed to any fund in the Nuveen Complex.</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(2)</font></div>
</td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Also serves as a trustee of the Nuveen Diversified Commodity Fund, an exchange-traded commodity pool managed by Nuveen Commodities Asset Management, LLC, an affiliate of the Adviser.</font></div>
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<td align="left" valign="top" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(3)</font></div>
</td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Mr. Amboian is an interested trustee because of his position with Nuveen Investments, Inc. and certain of its subsidiaries, which are affiliates of the Nuveen Funds.</font></div>
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<td align="left" valign="top" width="4%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">(4)</font></div>
</td>
<td align="left" valign="top" width="85%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Officers serve one year terms through August of each year. The year first elected or appointed represents the year in which the Officer was first elected or appointed to any fund in the Nuveen Complex.</font></div>
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<td align="left" valign="top" width="95%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt">Reinvest Automatically,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt">Easily and Conveniently</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen makes reinvesting easy. A phone call is all it takes to set up your reinvestment account.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Closed-End Funds Automatic Reinvestment Plan</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Your Nuveen Closed-End Fund allows you to conveniently reinvest distributions in additional Fund shares.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">By choosing to reinvest, you&#8217;ll be able to invest money regularly and automatically, and watch your investment grow through the power of compounding. Just like distributions in cash, there may be times when income or capital gains taxes may be payable on distributions that are reinvested.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">It is important to note that an automatic reinvestment plan does not ensure a profit, nor does it protect you against loss in a declining market.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Easy and convenient</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">To make recordkeeping easy and convenient, each month you&#8217;ll receive a statement showing your total distributions, the date of investment, the shares acquired and the price per share, and the total number of shares you own.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">How shares are purchased</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The shares you acquire by reinvesting will either be purchased on the open market or newly issued by the Fund. If the shares are trading at or above net asset value at the time of valuation, the Fund will issue new shares at the greater of the net asset value or 95% of the then-current market price. If the shares are trading at less than net asset value, shares for your account will be purchased on the open market. If the Plan Agent begins purchasing Fund shares on the open market while shares are trading below net asset value, but the Fund&#8217;s shares subsequently trade at or above their net asset value before the Plan Agent is able to complete its purchases, the Plan Agent may cease open-market purchases and may invest the uninvested portion of the distribution in newly-issued Fund shares at a price equal to the greater of the shares&#8217; net asset value or 95% of the shares&#8217; market value on the last business day immediately prior to the purchase date. Distributions received to purchase shares in the open market will normally be invested shortly after the distribution payment date. No interest will be paid on distributions awaiting reinvestment. Because the market price of the shares may increase before purchases are completed, the average purchase price per share may</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt">Nuveen Investments</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt">Reinvest Automatically</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Arial; FONT-SIZE: 18pt">Easily and Conveniently</font> (continued)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">exceed the market price at the time of valuation, resulting in the acquisition of fewer shares than if the distribution had been paid in shares issued by the Fund. A pro rata portion of any applicable brokerage commissions on open market purchases will be paid by Plan participants. These commissions usually will be lower than those charged on individual transactions.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Flexible</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">You may change your distribution option or withdraw from the Plan at any time, should your needs or situation change.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">You can reinvest whether your shares are registered in your name, or in the name of a brokerage firm, bank, or other nominee. Ask your investment advisor if his or her firm will participate on your behalf. Participants whose shares are registered in the name of one firm may not be able to transfer the shares to another firm and continue to participate in the Plan.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The Fund reserves the right to amend or terminate the Plan at any time. Although the Fund reserves the right to amend the Plan to include a service charge payable by the participants, there is no direct service charge to participants in the Plan at this time.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Call today to start reinvesting distributions</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">For more information on the Nuveen Automatic Reinvestment Plan or to enroll in or withdraw from the Plan, speak with your financial advisor or call us at (800) 257-8787.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt">Glossary of Terms</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Auction Rate Bond: </font>An auction rate bond is a security whose interest payments are adjusted periodically through an auction process, which process typically also serves as a means for buying and selling the bond. Auctions that fail to attract enough buyers for all the shares offered for sale are deemed to have &#8220;failed,&#8221; with current holders receiving a formula-based interest rate until the next scheduled auction.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Average Annual Total Return: </font>This is a commonly used method to express an investment&#8217;s performance over a particular, usually multi-year time period. It expresses the return that would have been necessary each year to equal the investment&#8217;s actual cumulative performance (including change in NAV or market price and reinvested dividends and capital gains distributions, if any) over the time period being considered.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Average Effective Maturity: </font>The market-value-weighted average of the effective maturity dates of the individual securities including cash. In the case of a bond that has been advance-refunded to a call date, the effective maturity is the date on which the bond is scheduled to be redeemed using the proceeds of an escrow account. In most other cases the effective maturity is the stated maturity date of the security.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Effective Leverage: </font>Effective leverage is a Fund&#8217;s effective economic leverage, and includes both structural leverage and the leverage effects of certain derivative investments in the Fund&#8217;s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any structural leverage.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Inverse Floaters: </font>Inverse floating rate securities, also known as inverse floaters, are created by depositing a municipal bond, typically with a fixed interest rate, into a special purpose trust created by a broker-dealer. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction of the deposited bond&#8217;s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an &#8220;inverse floater&#8221;) to an investor (such as a Fund) interested in gaining investment exposure to a long-term municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates&#8217; holders, and in most circumstances the holder of the inverse floater bears substantially all of the underlying bond&#8217;s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond&#8217;s value. Hence, an inverse floater essentially represents an investment in the underlying bond on a leveraged basis.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Leverage: </font>Using borrowed money to invest in securities or other assets.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt">Glossary of Terms</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Leverage-Adjusted Duration: </font>Duration is a measure of the expected period over which a bond&#8217;s principal and interest will be paid, and consequently is a measure of the sensitivity of a bond&#8217;s or bond Fund&#8217;s value to changes when market interest rates change. Generally, the longer a bond&#8217;s or Fund&#8217;s duration, the more the price of the bond or Fund will change as interest rates change. Leverage-adjusted duration takes into account the leveraging process for a Fund and therefore is longer than the duration of the Fund&#8217;s portfolio of bonds.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Lipper General and Insured Unleveraged Municipal Debt Funds Classification Average: </font>Calculated using the returns of all closed-end funds in this category for each period as follows: 1-year, 8 funds; 5-year, 6 funds; and 10-year, 6 funds. Lipper returns account for the effects of management fees and assume reinvestment of dividends, but do not reflect any applicable sales charges. The Lipper average is not available for direct investment.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Lipper General and Insured Leveraged Municipal Debt Funds Classification Average: </font>Calculated using the returns of all closed-end funds in this category for each period as follows: 1-year, 83 funds; 5-year, 80 funds; and 10-year, 64 funds. Lipper returns account for the effects of management fees and assume reinvestment of dividends, but do not reflect any applicable sales charges. The Lipper average is not available for direct investment.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Net Asset Value (NAV) Per Share: </font>The market value of one share of a mutual fund or closed-end fund. For a Fund, the NAV is calculated daily by taking the Fund&#8217;s total assets (securities, cash, and accrued earnings), subtracting the Fund&#8217;s liabilities, and dividing by the number of shares outstanding.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: arial; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Pre-Refunding: </font>Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral, pre-refunding generally raises a bond&#8217;s credit rating and thus its value.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Chapman and Cutler LLP</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Chicago, IL</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Independent Registered</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Ernst &amp; Young LLP</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Chicago, IL</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarterly Portfolio of Investments and Proxy Voting Information</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">You may obtain (i) each Fund&#8217;s quarterly portfolio of investments, (ii) information regarding how the Funds voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, and (iii) a description of the policies and procedures that the Funds used to determine how to vote proxies relating to portfolio securities without charge, upon request, by calling Nuveen Investments toll-free at (800) 257-8787 or on Nuveen&#8217;s website at www.nuveen.com.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">You may also obtain this and other Fund information directly from the Securities and Exchange Commission (SEC). The SEC may charge a copying fee for this information. Visit the SEC on-line at http://www.sec.gov or in person at the SEC&#8217;s Public Reference Room in Washington, D.C. Call the SEC at (202) 942-8090 for room hours and operation. You may also request Fund information by sending an e-mail request to publicinfo@sec.gov or by writing to the SEC&#8217;s Public References Section at 100 F Street NE, Washington, D.C. 20549.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CEO Certification Disclosure</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund&#8217;s Chief Executive Officer (CEO) has submitted to the New York Stock Exchange (NYSE) the annual CEO certification as required by Section 303A.12(a) of the NYSE Listed Company Manual.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund has filed with the SEC the certification of its Chief Executive Officer and Chief Financial Officer required by Section 302 of the Sarbanes-Oxley Act.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Each Fund intends to repurchase shares of its own common stock in the future at such times and in such amounts as is deemed advisable. During the period covered by this report, the Funds did not repurchase any of their common shares.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Any future repurchases will be reported to shareholders in the next annual or semi-annual report.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt">Nuveen Investments:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 18pt">Serving Investors for Generations</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Since 1898, financial advisors and their clients have relied on Nuveen Investments to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today, we offer a range of high quality equity and fixed-income solutions designed to be integral components of a well-diversified core portfolio.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Focused on meeting investor needs.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Nuveen Investments is a global investment management firm that seeks to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. We market our growing range of specialized investment solutions under the high-quality brands of NWQ, Nuveen Asset Management, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, Nuveen Investments managed approximately $207 billion of assets as of October 31, 2011.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Find out how we can help you.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">To learn more about how the products and services of Nuveen Investments may be able to help you meet your financial goals, talk to your financial advisor, or call us at <font style="DISPLAY: inline; FONT-WEIGHT: bold">(800) 257-8787</font>. Please read the information provided carefully before you invest.Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which contains this and other relevant information. To obtain a prospectus, please contact your securities representative or <font style="DISPLAY: inline; FONT-WEIGHT: bold">Nuveen Investments, 333 W. Wacker Dr., Chicago, IL 60606</font>. Please read the prospectus carefully before you invest or send money. Learn more about Nuveen Funds at: <font style="DISPLAY: inline; FONT-WEIGHT: bold">www.nuveen.com/cef</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Distributed by</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Nuveen Securities, LLC</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">333 West Wacker Drive</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Chicago, IL 60606</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">www.nuveen.com</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 2. CODE OF ETHICS.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the Code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/CEF/Info/Shareholder. (To view the code, click on Fund Governance and then click on Code of Conduct.)</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's Board of Directors or Trustees (&#8220;Board&#8221;) determined that the registrant has at least one &#8220;audit committee financial expert&#8221; (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant's audit committee financial expert is Carole E. Stone, who is &#8220;independent&#8221; for purposes of Item 3 of Form N-CSR.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><br>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the development of the State's operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State's bond-related disclosure documents and certifying that they fairly presented the State's financial position; reviewing audits of various State and local agencies and programs; and coordinating the State's system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director.&#160;&#160;Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain entities and assessing the adequacy of project/entity financing and financial reporting. Currently, Ms. Stone is on the Board of Directors of CBOE Holdings, Inc., of the Chicago Board Options Exchange, and of C2 Options Exchange. Ms. Stone's position on the boards of these entities and as a member of both CBOE Holdings' Audit Committee and its Finance Committee has involved, among other things, the oversight of audits, audit plans and preparation of financial statements.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Nuveen Municipal Income Fund, Inc.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following tables show the amount of fees that Ernst &amp; Young LLP, the Fund's auditor, billed to the Fund during the Fund's last two full fiscal years. For engagements with Ernst &amp; Young LLP the Audit Committee approved in advance all audit services and non-audit services that Ernst &amp; Young LLP provided to the Fund, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the &#8220;pre-approval exception&#8221;). The pre-approval exception for services provided directly to the Fund waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Fund to its accountant during the fiscal year in which the services are provided; (B) the Fund did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee's attention, and the Committee (or its delegate) approves the services before the audit is completed.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Audit Committee has delegated certain pre-approval responsibilities to its Chairman (or, in his absence, any other member of the Audit Committee).</font></div>

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<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Billed to Fund <font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">2</font></font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Billed to Fund <font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3</font></font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Billed to Fund <font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">4</font></font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">October 31, 2011</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">18,200</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Percentage approved</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">pursuant to</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">pre-approval</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">exception</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="52%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">October 31, 2010</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,151</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Percentage approved</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">pursuant to</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">pre-approval</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">exception</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" colspan="11" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font> "Audit Fees" are the aggregate fees billed for professional services for the audit of the Fund's annual financial statements and services</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" colspan="3" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">provided in connection with statutory and regulatory filings or engagements.</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">2</font> "Audit Related Fees" are the aggregate fees billed for assurance and related services reasonably related to the performance of the</font></div>
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<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">audit or review of financial statements and are not reported under "Audit Fees".</font></div>
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<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td align="left" colspan="7" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">3</font> "Tax Fees" are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning.</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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<td align="left" colspan="15" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">4</font> "All Other Fees" are the aggregate fees billed for products and services for agreed upon procedures engagements performed for leveraged funds.</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">SERVICES THAT THE FUND'S AUDITOR BILLED TO THE ADVISER AND AFFILIATED FUND SERVICE PROVIDERS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following tables show the amount of fees billed by Ernst &amp; Young LLP to Nuveen Fund Advisors, Inc. (formerly Nuveen Asset Management) (the &#8220;Adviser&#8221; or &#8220;NFA&#8221;), and any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (&#8220;Affiliated Fund Service Provider&#8221;), for engagements directly related to the Fund's operations and financial reporting, during the Fund's last two full fiscal years.</font></font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The tables also show the percentage of fees subject to the pre-approval exception. The pre-approval exception for services provided to the Adviser and any Affiliated Fund Service Provider (other than audit, review or attest services) waives the pre-approval requirement if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid to Ernst &amp; Young LLP by the Fund, the Adviser and Affiliated Fund Service Providers during the fiscal year in which the services are provided that would have to be pre-approved by the Audit Committee; (B) the Fund did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee's attention, and the Committee (or its delegate) approves the services before the Fund's audit is completed.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fiscal Year Ended</font></div>
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<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Audit-Related Fees</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Tax Fees Billed to</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">All Other Fees</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Billed to Adviser and</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Adviser and</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Billed to Adviser</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Affiliated Fund</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Affiliated Fund</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">and Affiliated Fund</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Service Providers</font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Service Providers</font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Service Providers</font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">October 31, 2011</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Percentage approved</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">pursuant to</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">pre-approval</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">exception</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">October 31, 2010</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="64%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Percentage approved</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">%</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">pursuant to</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">pre-approval</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="64%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">exception</font></div>
</td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">NON-AUDIT SERVICES</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following table shows the amount of fees that Ernst &amp; Young LLP billed during the Fund's last two full fiscal years for non-audit services. The Audit Committee is required to pre-approve non-audit services that Ernst &amp; Young LLP provides to the Adviser and any Affiliated Fund Services Provider, if the engagement related directly to the Fund's operations and financial reporting (except for those subject to the pre-approval exception described above). The Audit Committee requested and received information from Ernst &amp; Young LLP about any non-audit services that Ernst &amp; Young LLP rendered during the Fund's last fiscal year to the Adviser and any Affiliated Fund Service Provider. The Committee considered this information in evaluating Ernst &amp; Young LLP's independence.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fiscal Year Ended</font></div>
</td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Non-Audit Fees</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">billed to Adviser and</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Affiliated Fund Service</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Non-Audit Fees</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Providers (engagements</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">billed to Adviser and</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">related directly to the</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Affiliated Fund Service</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Non-Audit Fees</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">operations and financial</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Providers (all other</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td colspan="2" nowrap valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Billed to Fund</font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">reporting of the Fund)</font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">engagements)</font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td valign="bottom" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
<td colspan="2" nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</font></div>
</td>
<td nowrap valign="bottom" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">October 31, 2011</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">October 31, 2010</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td valign="bottom" width="52%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" colspan="11" nowrap valign="bottom">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">"Non-Audit Fees billed to Fund" for both fiscal year ends represent "Tax Fees" and "All Other Fees" billed to Fund in their respective</font></div>
</td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">amounts from the previous table.</font></div>
</td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
</tr></table>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Fund by the Fund's independent accountants and (ii) all audit and non-audit services to be performed by the Fund's independent accountants for the Affiliated Fund Service Providers with respect to operations and financial reporting of the Fund. Regarding tax and research projects conducted by the independent accountants for the Fund and Affiliated Fund Service Providers (with respect to operations and financial reports of the Fund) such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee chairman for his verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's Board has a separately designated Audit Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (15 U.S.C. 78c(a)(58)(A)). The members of the audit committee are Robert P. Bremner,&#160;Terence J. Toth, William J. Schneider, Carole E. Stone&#160;and David J. Kundert.</font></font></div>

<br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 6. SCHEDULE OF INVESTMENTS.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a) See Portfolio of Investments in Item 1.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">b) Not applicable.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><br>
</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Nuveen Fund Advisors, Inc.&#160;(&#8220;Adviser&#8221;) is the registrant&#8217;s investment adviser. NFA is responsible for the on-going monitoring of the Fund&#8217;s investment portfolio, managing the Fund&#8217;s business affairs and providing certain clerical, bookkeeping and administrative services. The Adviser has engaged Nuveen Asset Management, LLC (&#8220;Sub-Adviser&#8221;) as Sub-Adviser to provide discretionary investment advisory services. As part of these services, the Adviser has delegated to the Sub-Adviser the full responsibility for proxy voting on securities held in the registrant&#8217;s portfolio and related duties in accordance with the Sub-Adviser's policy and procedures. The Adviser periodically monitors the Sub-Adviser's voting to ensure that it is carrying out its duties. The Sub-Adviser&#8217;s proxy voting policies and procedures are attached to this filing as an exhibit and incorporated herein by reference.</font></font></font></font></font></font></font></font></font></font></font></font></div>
</div>
</div>
</div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</font></div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">
<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Nuveen Fund Advisors, Inc. is the registrant's investment adviser (also referred to as the "Adviser").&#160;&#160;The Adviser is responsible for the selection and on-going monitoring of the Fund's investment portfolio, managing the Fund's business affairs and providing certain clerical, bookkeeping and administrative services.&#160;&#160;The Adviser has engaged Nuveen Asset Management, LLC (&#8220;Nuveen Asset Management&#8221; or &#8220;Sub-Adviser&#8221;) as Sub-Adviser to provide discretionary investment advisory services. The following section provides information on the portfolio manager at the Sub-Adviser:</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The Portfolio Manager</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following individual has primary responsibility for the day-to-day implementation of the registrant&#8217;s investment strategies:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="22%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name</font></div>
</td>
<td align="left" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fund</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="22%">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 27pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;Christopher L. Drahn</font></div>
</td>
<td align="left" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Nuveen Municipal Income Fund, Inc.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Other Accounts Managed.</font> In addition to managing the registrant, the portfolio manager is also primarily responsible for the day-to-day portfolio management of the following accounts:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: 'arial narrow'; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: arial">
<tr>
<td align="left" valign="bottom" width="28%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Portfolio Manager</font></div>
</td>
<td valign="bottom" width="37%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Type&#160;of&#160;Account</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Managed</font></div>
</td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number&#160;of</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Accounts</font></div>
</td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Assets*</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="28%">
<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Christopher L. Drahn</font></div>
</td>
<td valign="bottom" width="37%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Registered Investment Company</font></div>
</td>
<td align="left" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12</font></div>
</td>
<td align="left" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$ 2.45 billion</font></div>
</td>
</tr><tr>
<td align="left" valign="top" width="28%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="37%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other Pooled Investment Vehicles</font></div>
</td>
<td align="left" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">0</font></div>
</td>
<td align="left" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$ 0</font></div>
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<td align="left" valign="top" width="28%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="37%" style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other Accounts</font></div>
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<td align="left" valign="bottom" width="7%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4</font></div>
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<td align="left" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$&#160;&#160;106.0 million</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Assets are as of October 31, 2011.&#160;&#160;None of the assets in these accounts are subject to an advisory fee based on performance.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Portfolio manager compensation consists primarily of base pay, an annual cash incentive and long </font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">term incentive payments.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Base pay.</font> Base pay is determined based upon an analysis of the portfolio manager&#8217;s general performance, experience, and market levels of base pay for such position.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Annual cash bonus.</font> The Funds&#8217; portfolio managers are eligible for an annual cash bonus determined based upon the particular portfolio manager&#8217;s performance, experience and market levels of base pay for such position. The maximum potential annual cash bonus is equal to a multiple of base pay.&#160;&#160;A portion of each portfolio manager&#8217;s annual cash bonus is based on his or her Fund&#8217;s investment performance, generally measured over the past one- and three-year periods unless the portfolio manager&#8217;s tenure is shorter. Investment performance for each Fund is determined by evaluating the Fund&#8217;s performance relative to its benchmark(s) and/or Lipper industry peer group. </font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Each portfolio manager whose performance is evaluated in part by comparing the manager&#8217;s performance to a benchmark is measured against a Fund-specific customized subset (limited to bonds in the Fund&#8217;s specific state and with certain maturity parameters) of the S&amp;P/Investortools Municipal Bond Index, an index comprised of bonds held by managed municipal bond fund customers of Standard &amp; Poor&#8217;s Securities Pricing, Inc. that are priced daily and whose fund holdings aggregate at least $2 million. As of October 31, 2011, the S&amp;P/Investortools Municipal Bond Index was comprised of 57,980 securities with an aggregate current market value of $1,262 billion.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Bonus amounts can also be influenced by factors other than investment performance. These other factors are more subjective and are based on evaluations by each portfolio manager&#8217;s supervisor and reviews submitted by his or her peers. These reviews and evaluations often take into account a number of factors, including the portfolio manager&#8217;s effectiveness in communicating investment performance to shareholders and their advisors, his or her contribution to Nuveen Asset Management&#8217;s investment process and to the execution of investment strategies consistent with risk</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">guidelines, his or her participation in asset growth, and his or her compliance with Nuveen Asset Management&#8217;s policies and procedures.&#160;&#160;Investment performance is measured on a pre-tax basis, gross of fees for a Fund&#8217;s results and for its Lipper industry peer group.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Long-term incentive compensation.</font> Certain key employees of Nuveen Investments and its affiliates, including certain portfolio managers, have received equity interests in the parent company of Nuveen Investments which entitle their holders to participate in the appreciation in the value of Nuveen Investments. In addition, certain key employees of Nuveen Asset Management, including certain portfolio managers, have received profits interests in Nuveen Asset Management which entitle their holders to participate in the firm&#8217;s growth over time.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There are generally no differences between the methods used to determine compensation with respect to the registrant and the other accounts managed by the registrant&#8217;s portfolio managers.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Material Conflicts of Interest</font>. Each portfolio manager&#8217;s simultaneous management of the registrant and the other accounts noted above may present actual or apparent conflicts of interest with respect to the allocation and aggregation of securities orders placed on behalf of the Registrant and the other account. Nuveen Asset Management, however, believes that such potential conflicts are mitigated by the fact that the Nuveen Asset Management has adopted several policies that address potential conflicts of interest, including best execution and trade allocation policies that are designed to ensure (1) that portfolio management is seeking the best price for portfolio securities under the circumstances, (2) fair and equitable allocation of investment opportunities among accounts over time and (3) compliance with applicable regulatory requirements. All accounts are to be treated in a non-preferential manner, such that allocations are not based upon account performance, fee structure or preference of the portfolio manager, although the allocation procedures may provide allocation preferences to funds with special characteristics (such as favoring state funds versus national funds for allocations of in-state bonds). In addition, Nuveen Asset Management has adopted a Code of Conduct that sets forth policies regarding conflicts of interest.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline">Beneficial Ownership of Securities.</font> As of October 31, 2011, the portfolio manager beneficially owned the following dollar range of equity securities issued by the Registrant and other Nuveen Funds managed by Nuveen Asset Management&#8217;s municipal investment team.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Dollar range of </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">equity securities </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">beneficially owned </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">in Fund</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Dollar range of equity </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">securities beneficially </font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">owned in the remainder of </font></div>

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<div style="TEXT-INDENT: -18pt; DISPLAY: block; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Christopher L. Drahn</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$10,001-$50,000</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">PORTFOLIO MANAGER BIO:</font><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Christopher L. Drahn, CFA, manages several municipal funds and portfolios.&#160;&#160;He began working in the financial industry when he joined FAF Advisors in 1980.&#160;&#160;Chris became a portfolio manager in 1988.&#160;&#160;He received a B.A. from Wartburg College and an M.B.A. in finance from the University of Minnesota.&#160;&#160;Chris holds the Chartered Financial Analyst designation.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Not applicable.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board implemented after the registrant last provided disclosure in response to this item.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 11. CONTROLS AND PROCEDURES.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;) (17 CFR 240.13a-15(b) or 240.15d-15(b)).</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ITEM 12. EXHIBITS.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.</font></div>

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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable because the code is posted on registrant's website at www.nuveen.com/CEF/Info/ Shareholder and there were no amendments during the period covered by this report. (To view the code, click on Fund Governance and then Code of Conduct.)</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: Ex-99.CERT Attached hereto.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If the report is filed under Section 13(a) or 15(d) of the Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by reference. Ex-99.906 CERT attached hereto.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Registrant) <font style="DISPLAY: inline; TEXT-DECORATION: underline">Nuveen Municipal Income Fund, Inc.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">By (Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Kevin J. McCarthy</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Kevin J. McCarthy</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date: <font style="DISPLAY: inline; TEXT-DECORATION: underline">January 6,&#160;2012</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">By (Signature and Title) <font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Stephen D. Foy</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Stephen D. Foy</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CERTIFICATION</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I, Gifford R. Zimmerman, certify that:</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I have reviewed this report on Form N-CSR of Nuveen Municipal Income Fund, Inc.;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date: January 6, 2012</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Gifford R. Zimmerman</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CERTIFICATION</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I, Stephen D. Foy, certify that:</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">I have reviewed this report on Form N-CSR of Nuveen Municipal Income Fund, Inc.;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date: January 6, 2012</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Stephen D. Foy</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Stephen D. Foy</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Vice President and Controller</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(principal financial officer)</font></div>

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<TYPE>EX-99.906 CERT
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Certification Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002; provided by the Chief Executive Officer and Chief Financial Officer, based on each such officer's knowledge and belief.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The undersigned officers of Nuveen Municipal Income Fund, Inc. (the &#8220;Fund&#8221;) certify that, to the best of each such officer's knowledge and belief:</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Form N-CSR of the Fund for the period ended&#160;October 31, 2011 (the&#160;&#8220;Report&#8221;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Fund.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date:&#160;January 6, 2012</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Gifford R. Zimmerman</font></font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Gifford R. Zimmerman</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Stephen D. Foy</font></font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Stephen D. Foy</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Vice President, Controller</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(principal financial officer)</font></div>

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<DOCUMENT>
<TYPE>EX-99.PROXYPOLICY
<SEQUENCE>4
<FILENAME>ex99proxypolicy.htm
<DESCRIPTION>PROXY POLICY
<TEXT>
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<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nuveen Asset Management, LLC</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Proxy Voting Policies and Procedures</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Effective Date:&#160;&#160;January 1, 2011</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">I.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; General Principles</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">A.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Nuveen Asset Management, LLC (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Adviser</font>&#8221;) is an investment sub-adviser for certain of the Nuveen Funds (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Funds</font>&#8221;) and investment adviser for institutional and other separately managed accounts (collectively, with the Funds, &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Accounts</font>&#8221;). As such, Accounts may confer upon Adviser complete discretion to vote proxies.&#160;&#160;It is Adviser&#8217;s duty to vote proxies in the best interests of its clients (which may involve affirmatively deciding that voting the proxies may not be in the best interests of certain clients on certain matters<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top"><a href="#ref.ID0EQF">1</a></font>). In voting proxies, Adviser also seeks to enhance total investment return for its clients.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">B.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If Adviser contracts with another investment adviser to act as a sub-adviser for an Account, Adviser may delegate proxy voting responsibility to the sub-adviser. Where Adviser has delegated proxy voting responsibility, the sub-adviser will be responsible for developing and adhering to its own proxy voting policies, subject to oversight by Adviser.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">C.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Adviser&#8217;s Investment Policy Committee (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">IPC</font>&#8221;), comprised of the firm&#8217;s most senior investment professionals, is charged with oversight of the proxy voting policies and procedures. The IPC is responsible for (1) approving the proxy voting policies and procedures, and (2) oversight of the activities of Adviser&#8217;s Proxy Voting Committee (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">PVC</font>&#8221;). The PVC is responsible for providing an administrative framework to facilitate and monitor Adviser&#8217;s exercise of its fiduciary duty to vote client proxies and fulfill the obligations of reporting and recordkeeping under the federal securities laws.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">II.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Policies</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The IPC, after reviewing and concluding that such policies are reasonably designed to vote proxies in the best interests of clients, has approved and adopted the proxy voting policies of&#160;Institutional Shareholder Services, Inc.&#160;("<font style="DISPLAY: inline; TEXT-DECORATION: underline">ISS</font>"), a leading national provider of proxy voting administrative and research services. As a result, such policies set forth Adviser&#8217;s positions on recurring proxy issues and criteria for addressing non-recurring issues. These policies are reviewed periodically by ISS, and therefore are subject to change. Even though it has adopted ISS policies, Adviser maintains the fiduciary responsibility for all proxy voting decisions.</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font></font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Adviser may not vote proxies associated with the securities of any issuer if as a result of voting, subsequent purchases or sales of such securities would be blocked. However, Adviser may decide, on an individual security basis that it is in the best interests of its clients to vote the proxy associated with such a security, taking into account the loss of liquidity.&#160;&#160;In addition, Adviser may not to vote proxies where the voting would in Adviser&#8217;s judgment result in some other financial, legal, regulatory disability or burden to the client (such as imputing control with respect to the issuer) or subject to resolution of any conflict of interest as provided herein, to Adviser.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">III.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Procedures</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">A.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Supervision of Proxy Voting Service.&#160;&#160;</font>The PVC shall supervise the relationship with Adviser&#8217;s proxy voting service, ISS. ISS apprises Adviser of shareholder meeting dates, provides research on proxy proposals and voting recommendations, and casts the actual proxy votes. ISS also serves as Adviser&#8217;s proxy voting record keeper and generates reports on how proxies were voted.</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The following relationships or circumstances may give rise to conflicts of interest:<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top"><a href="#ref.ID0EZFAC">2</a></font></font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The issuer or proxy proponent (e.g., a special interest group) is Madison Dearborn Partners, a private equity firm and affiliate of Adviser (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">MDP</font>&#8221;), or a company that controls, is controlled by or is under common control with MDP.</font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">b.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The issuer is an entity in which an executive officer of Adviser or a spouse or domestic partner of any such executive officer is or was (within the past three years of the proxy vote) an executive officer or director.</font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">c.&#160;&#160;</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The issuer is a registered or unregistered fund for which Adviser or another Nuveen adviser serves as investment adviser or sub-adviser.</font></div>
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">d.&#160;&#160;</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Adviser will vote proxies in the best interest of its clients regardless of such real or perceived conflicts of interest. By adopting ISS policies, Adviser believes the risk related to conflicts will be minimized.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">To further minimize this risk, the IPC will review ISS&#8217; conflict avoidance policy at least annually to ensure that it adequately addresses both the actual and perceived conflicts of interest the proxy voting service may face.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">A conflict of interest shall not be considered material for the purposes of these Policies and Procedures in respect of a specific vote or circumstance if the matter to be voted on relates to a restructuring of the terms of existing securities or the issuance of new securities or a similar matter arising out of the holding of securities, other than common equity, in the context of a bankruptcy or threatened bankruptcy of the issuer, even if a conflict described in III.B.1a.-d is present.</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">4.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In the event that ISS faces a material conflict of interest with respect to a specific vote, the PVC shall direct ISS how to vote. The PVC shall receive voting direction from the Head of Research, who will seek voting direction from appropriate investment personnel. Before doing so, however, the PVC will confirm that Adviser faces no material conflicts of its own with respect to the specific proxy vote.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If the PVC concludes that a material conflict does exist, it will recommend to the IPC a course of action designed to address the conflict. Such actions could include, but are not limited to:</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">a.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Obtaining instructions from the affected client(s) on how to vote the proxy;</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Disclosing the conflict to the affected client(s) and seeking their consent to permit Adviser to vote the proxy;</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Recusing an IPC member from all discussion or consideration of the matter, if the material conflict is due to such person&#8217;s actual or potential conflict of interest; or</font></div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">e.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In addition to all of the above-mentioned and other conflicts, members of the IPC and the PVC must notify Adviser&#8217;s Chief Compliance Officer of any direct, indirect or perceived improper influence exerted by any employee, officer or director within the MDP affiliate or Fund complex with regard to how Adviser should vote proxies. The Chief Compliance Officer will investigate the allegations and will report the findings to Adviser&#8217;s President and the General Counsel. If it is determined that improper influence was attempted, appropriate action shall be taken. Such appropriate action may include disciplinary action, notification of the appropriate senior managers within the MDP affiliate, or notification of the appropriate regulatory authorities. In all cases, the IPC shall not consider any improper influence in determining how to vote proxies, and will vote in the best interests of clients.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">C.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Proxy Vote Override.&#160;&#160;</font>From time to time, a portfolio manager of an Account (a &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Portfolio Manager</font>&#8221;) may initiate action to override the ISS recommendation for a particular vote. Any such override by a NAM Portfolio Manager (but not a sub-adviser Portfolio Manager) shall be reviewed by Adviser&#8217;s Legal Department for material conflicts. If the Legal Department determines that no material conflicts exist, the approval of one investment professional on the IPC or the Head of Equity Research shall authorize the override.&#160;&#160;If a material conflict exists the <br>
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conflict and, ultimately, the override recommendation will be addressed pursuant to the procedures described above under &#8220;Conflicts of Interest.&#8221;</font></div>

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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In order to generate incremental revenue, some clients may participate in a securities lending program.&#160;&#160;If a client has elected to participate in the lending program then it will not have the right to vote the proxies of any securities that are on loan as of the shareholder meeting record date.&#160;&#160;A client, or a Portfolio Manager, may place restrictions on loaning securities and/or recall a security on loan at any time.&#160;&#160;Such actions must be affected prior to the record date for a meeting if the purpose for the restriction or recall is to secure the vote.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Portfolio Managers and/or analysts who become aware of upcoming proxy issues relating to any securities in portfolios they manage, or issuers they follow, will consider the desirability of recalling the affected securities that are on loan or restricting the affected securities prior to the record date for the matter. If the proxy issue is determined to be material, and the determination is made prior to the shareholder meeting record date the Portfolio Manager(s) will contact the Securities Lending Agent to recall securities on loan or restrict the loaning of any security held in any portfolio they manage, if they determine that it is in the best interest of shareholders to do so. Training regarding the process to recall securities on loan or restrict the loaning of securities is given to all Portfolio Managers and analysts.</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">E.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Proxy Voting for ERISA Clients.&#160;&#160;</font>If a proxy voting issue arises for an ERISA client, Adviser is prohibited from voting shares with respect to any issue advanced by a party in interest of the ERISA client.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">F.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>&#160;&#160;&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Proxy Voting Records.&#160;&#160;</font>As required by Rule 204-2 of the Investment Advisers Act of 1940, Adviser shall make and retain five types of records relating to proxy voting; (a) proxy voting policies and procedures; (b) proxy statements received for client and fund securities; (c) records of votes cast on behalf of clients and funds; (d) records of written requests for proxy voting information and written responses from the Adviser to either a written or oral request; and (e) any documents prepared by the adviser that were material to making a proxy voting decision or that memorialized the basis for the decision.&#160;&#160;Adviser may rely on&#160;ISS to make and retain on Adviser&#8217;s behalf records pertaining to the rule.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">G.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Fund of Funds Provision</font>.&#160;&#160;In instances where Adviser provides investment advice to a fund of funds that acquires shares of affiliated funds or three percent or more of the outstanding voting securities of an unaffiliated fund, the acquiring fund shall vote the shares in the same proportion as the vote of all other shareholders of the acquired fund.&#160;&#160;If compliance with this policy results in a vote of any shares in a manner different than the ISS <br>
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<hr style="COLOR: black" noshade size="2">
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<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">recommendation, such vote will not require compliance with the Proxy Vote Override procedures set forth above.</font></div>

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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 27pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;&#160; H.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Legacy Securities.&#160;&#160;</font>To the extent that Adviser receives proxies for securities that are transferred into an Account&#8217;s portfolio that were not recommended or selected by Adviser and are sold or expected to be sold promptly in an orderly manner (&#8220;legacy securities&#8221;), Adviser will generally instruct ISS to refrain from voting such proxies. In such circumstances, since legacy securities are expected to be sold promptly, voting proxies on such securities would not further Adviser&#8217;s interest in maximizing the value of client investments. Adviser may agree to an institutional Account&#8217;s special request to vote a legacy security proxy, and would instruct ISS to vote such proxy in accordance with its guidelines.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>I.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Review and Reports.</font></div>

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<div>
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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.</font></div>
</td>
<td>
<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The PVC shall maintain a review schedule. The schedule shall include reviews for the proxy voting policy (including the policies of any sub-adviser), the proxy voting record, account maintenance, and other reviews as deemed appropriate by the PVC. The PVC shall review the schedule at least annually.</font></div>
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</div>

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<div>
<table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
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<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160; </font></div>
</td>
<td style="WIDTH: 36pt">
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">2.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The PVC will report to the IPC with respect to all identified conflicts and how they were addressed. These reports will include all Accounts, including those that are sub-advised. With respect to the review of votes cast on behalf of investments by the Funds, such review will also be reported to the Board of Directors of the Funds at each of their regularly scheduled meetings.&#160;&#160;Adviser also shall provide the Funds that it sub-advises with information necessary for preparing Form N-PX.</font></div>
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</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">K.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-WEIGHT: bold">Vote Disclosure to Clients.&#160;&#160;</font>Adviser&#8217;s institutional and separately managed account clients can contact their relationship manager for more information on Adviser&#8217;s policies and the proxy voting record for their account. The information available includes name of issuer, ticker/CUSIP, shareholder meeting date, description of item and Adviser&#8217;s vote.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">IV.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Policy Owner</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">IPC</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">V.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Responsible Parties</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">IPC</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">PVC</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">ADV Review Team</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Last Amended 1/1/11</font></div>

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