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<SEC-DOCUMENT>0000930413-08-006041.txt : 20081016
<SEC-HEADER>0000930413-08-006041.hdr.sgml : 20081016
<ACCEPTANCE-DATETIME>20081016171946
ACCESSION NUMBER:		0000930413-08-006041
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080831
FILED AS OF DATE:		20081016
DATE AS OF CHANGE:		20081016
EFFECTIVENESS DATE:		20081016

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO NEW YORK MUNICIPAL INCOME FUND II
		CENTRAL INDEX KEY:			0001170311
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21078
		FILM NUMBER:		081127941

	BUSINESS ADDRESS:	
		STREET 1:		1345 AVENUE OF THE AMERICAS, 47TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10105
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>c55219_nq.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>c55219_nq.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<div align="right">
  <table STYLE="border:1px solid #000000" cellspacing="10" cellpadding="0">
    <tr>
      <td><FONT size=1 face="serif">&nbsp;&nbsp;&nbsp;&nbsp;<U>OMB APPROVAL</U><BR>
        OMB Number: 3235-0578<BR>
        Expires: April 30, 2010<BR>
        Estimated average burden<BR>
      hours per response: 10.5</FONT></td>
    </tr>
  </table>
</div>
<div style="margin-top:-100px">


<P align="center">
<B><FONT size=2 face="serif">UNITED STATES </FONT></B><BR>
<B><FONT size=2 face="serif">SECURITIES AND EXCHANGE COMMISSION </FONT></B><BR>
<B><FONT size=2 face="serif">Washington, DC 20549 </FONT></B><BR>
<BR>
<B><FONT size=2 face="serif">FORM N-Q </FONT></B></P>
</div>


<P align="center">
<B><FONT size=2 face="serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</FONT></B><BR>
<B><FONT size=2 face="serif">MANAGEMENT INVESTMENT COMPANY </FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Investment Company Act File Number: 811-21078</FONT></P>
<P align="left">
<FONT size=2 face="serif">Registrant Name: PIMCO New York Municipal Income Fund
II</FONT></P>
<P align="left">
<FONT size=2 face="serif">Address of Principal Executive Offices: 1345 Avenue of the Americas New York, New York 10105 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Name and Address of Agent for Service: Lawrence G. Altadonna &#150; 1345 Avenue of the Americas New York, New York 10105 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Registrant&#146;s telephone number, including area code: 212-739-3371 </FONT></P>
<P align="left">
<FONT size=2 face="serif">Date of Fiscal Year End: May 31, 2009 </FONT><BR>
<BR>
<FONT size=2 face="serif">Date of Reporting Period: August 31, 2008</FONT></P>
<P align="justify">
<FONT size=2 face="serif">Form N-Q is to be used by management investment companies,
other than a small business investment companies registered on Form N-5 (</FONT><FONT size=2 face="sans-serif">&#167;&#167;</FONT><FONT size=2 face="serif"> 239.24
and 274.5 of this chapter), to file reports with the Commission, not later than
60 days after the close of the first and third fiscal quarters, pursuant to rule
30b 1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission
may use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles. </FONT></P>
<P align="justify">
<FONT size=2 face="serif">A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to the collection of information contained in Form N-Q unless
the Form displays a currently valid Office of Management and Budget (&#147;OMB&#148;) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the
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. </FONT><FONT size=2 face="sans-serif">&#167;
</FONT><FONT size=2 face="serif">3507. </FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>

<P align="left"><b><font size="2" face="serif">Item 1.&nbsp;Schedule of Investments.</font></b></P>
<div style="border-bottom:1px solid #000000">

<B><FONT size=2 face="sans-serif">PIMCO New York Municipal Income Fund II Schedule of Investments</FONT></B><BR>
<FONT size=1 face="sans-serif">August 31, 2008 (unaudited)</FONT></div>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=6%></TD>
     <TD width=3%></TD>
     <TD width=69%></TD>
     <TD width=2%></TD>
     <TD width=7%></TD>
     <TD width=2%></TD>
     <TD width=7%></TD></TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Principal</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Amount</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Credit Rating</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">(000</FONT><FONT size=1 face="sans-serif">)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">(Moody's/S&amp;P)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">Value*</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">NEW YORK MUNICIPAL BONDS &amp; NOTES&#151;89.6%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Buffalo Municipal Water Finance Auth., Water System Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Ser. B, (Pre-refunded @ &#36;100, 7/1/12) (FSA) (b),</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;250</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 7/1/27</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;272,465</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.125%, 7/1/32</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,094,390</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,400</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Erie Cnty. Industrial Dev. Agcy., Orchard Park Rev., 6.00%, 11/15/36</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=1 face="sans-serif">NR/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,103,456</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Erie Cnty. Tobacco Asset Securitization Corp. Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">6.50%, 7/15/32, (Pre-refunded @ &#36;101, 7/15/10) (b)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=1 face="sans-serif">NR/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,861,300</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Liberty Dev. Corp. Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,185</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 10/1/35 (g)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA-</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,244,254</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,700</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.50%, 10/1/37</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA-</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,781,209</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Metropolitan Transportation Auth. Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,850</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 11/15/30, Ser. A (FSA)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,874,309</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 11/15/31, Ser. E</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A2/A</FONT>&nbsp; </TD>
	<TD align=left nowrap>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,111,700</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.35%, 7/1/31, Ser. B</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,120,330</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,570</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Mortgage Agcy. Rev., 4.75%, 10/1/27, Ser. 128</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa1/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,372,829</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,400</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Nassau Cnty. Industrial Dev. Agcy. Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Amsterdam at Harborside, 6.70%, 1/1/43, Ser. A</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=1 face="sans-serif">NR/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,358,576</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">New York City, GO, 5.00%, 3/1/33, Ser. I</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,994,360</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">New York City Health &amp; Hospital Corp. Rev.,
Ser. A,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,100</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.375%, 2/15/26</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,101,166</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.45%, 2/15/26</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/A+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,011,140</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">975</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">New York City Industrial Dev. Agcy. Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Eger Harbor, 4.95%, 11/20/32, (GNMA)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=1 face="sans-serif">NR/AA+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">904,585</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,415</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Liberty Interactive Corp., 5.00%, 9/1/35</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba2/BB+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,176,148</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,205</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Staten Island Univ. Hospital, 6.45%, 7/1/32</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">B2/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,176,237</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,500</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">United Jewish Appeal Fed., 5.00%, 7/1/27</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa1/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,536,420</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Yankee Stadium,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 3/1/31, (FGIC)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa3/BBB-</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,959,950</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,400</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 3/1/36, (MBIA)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A2/AA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,340,456</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">New York City Municipal Water Finance Auth.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Water &amp; Sewer System Rev. (g),</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,500</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">4.50%, 6/15/33, Ser. C</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AA+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,133,700</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 6/15/32, Ser. A</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,031,850</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">15,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.125%, 6/15/34, Ser. A</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">15,191,400</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">New York City Transitional Finance Auth. Rev., 5.00%, 11/1/27, Ser. B</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa1/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,190,900</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,785</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">New York City Trust for Cultural Res. Rev., 5.00%, 2/1/34, (FGIC)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA</FONT>	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">-</FONT>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,846,969</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,600</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Port Auth. of New York &amp; New Jersey Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 4/15/32, Ser. 125 (FSA)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,661,452</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">State Dormitory Auth. Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">80</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 9/1/28, (Pre-refunded @ &#36;102, 9/1/09) (Radian)(b)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">84,453</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,320</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.25%, 9/1/28, (Radian)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,324,330</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">7,490</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.50%, 5/15/31, Ser. A (AMBAC)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">8,036,620</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,600</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Catholic Health of Long Island, 5.10%, 7/1/34</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa1/BBB</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,338,466</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Kaleida Health Hospital, 5.05%, 2/15/25, (FHA)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap><FONT size=1 face="sans-serif">NR/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,975,740</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,300</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Lenox Hill Hospital, 5.50%, 7/1/30</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba1/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,187,534</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">New York Univ. Hospital, 5.625%, 7/1/37, Ser. B</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba2/BB</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">972,270</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,850</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">North General Hospital, 5.00%, 2/15/25</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/AA-</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,898,496</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Rochester General Hospital, 5.00%, 12/1/35, (Radian)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A3/BBB+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,554,650</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,270</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Teachers College, 5.00%, 7/1/32, (MBIA)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,329,011</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Yeshiva Univ., 5.125%, 7/1/34, (AMBAC)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,046,840</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">State Environmental Facs. Corp.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">State Clean Water &amp; Drinking Rev., 5.125%, 6/15/31</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,035,220</FONT>&nbsp;	</TD>
</TR>
</TABLE>
<BR>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>

<div style="border-bottom:1px solid #000000">
<B><FONT size=2 face="sans-serif">PIMCO New York Municipal Income Fund II Schedule of Investments</FONT></B><BR>
<FONT size=1 face="sans-serif">August 31, 2008 (unaudited)</FONT></div>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD width=6%></TD>
     <TD width=3%></TD>
     <TD width=69%></TD>
     <TD width=2%></TD>
     <TD width=7%></TD>
     <TD width=2%></TD>
     <TD width=7%></TD></TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Principal</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Amount</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Credit Rating</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">(000)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif"></FONT>&nbsp;	</TD>
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">(Moody's/S&amp;P)</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">Value*</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Tobacco Settlement Asset Backed, Inc., Rev., Ser.
1,</FONT>&nbsp; &nbsp; &nbsp;&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;25,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 6/1/34</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/BBB</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;21,543,750</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">25,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.75%, 7/15/32, (Pre-refunded @ &#36;100, 7/15/12) (b)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">27,856,750</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">6.375%, 7/15/39, (Pre-refunded @ &#36;101, 7/15/09) (b)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">10,508,200</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Triborough Bridge &amp; Tunnel Auth. Rev., (FGIC-TCRS),</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">710</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 1/1/32</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AA-</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">715,353</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,990</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">5.00%, 1/1/32, (Pre-refunded @ &#36;100, 1/1/12) (b)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa2/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,312,871</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,815</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Ulster Cnty. Industrial Dev. Agcy. Rev., 6.00%, 9/15/37, Ser. A</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,683,794</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Warren &amp; Washington Cntys. Industrial Dev. Agcy. Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Glens Falls Hospital, 5.00%, 12/1/35, Ser. A (FSA)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">2,013,580</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">750</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Westchester Cnty. Industrial Dev. Agcy. Continuing Care Retirement Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Kendal on Hudson, 6.50%, 1/1/34, (Pre-refunded @ &#36;100, 1/1/13) (b)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">863,250</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Total New York Municipal Bonds &amp; Notes (cost&#151;&#36;218,364,054)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">220,732,729</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">OTHER MUNICIPAL BONDS &amp; NOTES&#151;8.2%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=1 face="sans-serif">California&#151;3.2%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Alameda Unified School Dist., Alameda Cnty., GO,
Ser. A (FSA),</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,500</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">zero coupon, 8/1/24</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,578,150</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">zero coupon, 8/1/25</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,273,980</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">3,130</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Covina Valley Unified School Dist., GO,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">zero coupon, 6/1/25, Ser. B (FGIC)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa3/A+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,276,445</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,000</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Tobacco Securitization Agcy. Rev., Los Angeles Cnty.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp;&nbsp;&nbsp;<FONT size=1 face="sans-serif">zero coupon, 6/1/28</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa3/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">3,658,150</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">7,786,725</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=1 face="sans-serif">Colorado&#151;0.0%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">210</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Dawson Ridge Dist. No. 1, GO, zero coupon, 10/1/22, Ser. A</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aaa/NR</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">108,906</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=1 face="sans-serif">Puerto Rico&#151;5.0%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,600</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Aqueduct &amp; Sewer Auth. Rev., 6.00%, 7/1/38, Ser. A</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa3/BBB-</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">4,800,744</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,675</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Children's Trust Fund Tobacco Settlement Rev., 5.625%, 5/15/43</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Baa3/BBB</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">5,050,126</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Electric Power Auth. Power Rev., Ser. NN,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">(Pre-refunded @ &#36;100,
 7/1/13) (b),</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">590</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">&nbsp; &nbsp; &nbsp;&nbsp;&nbsp;5.125%,
7/1/29</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A3/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">654,015</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">160</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">&nbsp; &nbsp; &nbsp;&nbsp;  5.125%, 7/1/29</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A3/BBB+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">176,979</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Sales Tax Financing Corp. Rev., Ser. A,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">14,250</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">zero coupon, 8/1/54 (AMBAC)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Aa3/AA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">948,623</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">12,900</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">zero coupon, 8/1/56</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A1</FONT><FONT size=1 face="sans-serif">/A+</FONT> </TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">742,137</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">12,372,624</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Total Other Municipal Bonds &amp; Notes (cost&#151;&#36;21,814,982)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">20,268,255</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">NEW YORK VARIABLE RATE NOTES </FONT></B><FONT size=2 face="sans-serif">(a)(c)(e)</FONT><B><FONT size=2 face="sans-serif">&#151;0.6%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,300</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">State Urban Dev. Corp. Rev., 17.047%, 3/15/35 (cost&#151;&#36;1,408,123)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">NR/AAA</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">1,386,580</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">OTHER VARIABLE RATE NOTES </FONT></B><FONT size=2 face="sans-serif">(e)</FONT><B><FONT size=2 face="sans-serif">&#151;1.2%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=1 face="sans-serif">California&#151;0.4%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,335</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Golden State Tobacco Securitization Corp. Rev.,</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">2.57%, 6/1/35, Ser. A (FGIC)(a)(c)(d)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">A2/A</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">1,014,119</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=1 face="sans-serif">Puerto Rico&#151;0.8%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,900</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Public Finance Corp. Rev., 5.75%, 8/1/27, Ser. A</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">Ba1/BBB-</FONT>	</TD>
	<TD align=left nowrap>&nbsp;&nbsp;&nbsp; </TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">1,950,027</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Total Other Variable Rate Notes (cost&#151;&#36;3,310,561)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">2,964,146</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<B><FONT size=2 face="sans-serif">NEW YORK VARIABLE RATE DEMAND NOTES </FONT></B><FONT size=2 face="sans-serif">(e)(f)</FONT><B><FONT size=2 face="sans-serif">&#151;0.4%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">1,100</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">New York City, GO, 2.15%, 9/2/08, Ser. A-6 (FSA) (cost&#151;&#36;1,100,000)</FONT>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=center nowrap>
<FONT size=1 face="sans-serif">VMIG1/A-1+</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">1,100,000</FONT>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=7>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>
<B><FONT size=1 face="sans-serif">Total Investments </FONT></B><FONT size=1 face="sans-serif">(cost&#151;&#36;245,997,720)&#151;</FONT><B><FONT size=1 face="sans-serif">100.0%</FONT></B>&nbsp;	</TD>
	<TD>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=1 face="sans-serif">&#036;246,451,710</FONT></B>&nbsp;	</TD>
</TR>
</TABLE>
<BR>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<P align="left">
<B><FONT size=2 face="sans-serif">Notes to Schedule of Investments:</FONT></B></P>
<TABLE width="100%" border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="3%" nowrap valign=top><FONT size=1 face="sans-serif">*</FONT></TD>
  <TD width="97%"><FONT size=1 face="sans-serif">Portfolio securities and other
      financial instruments for which market quotations are readily available
      are stated at market value. Market value is generally determined on the
      basis of last reported sales prices, or if no sales are reported, based
      on quotes obtained from a quotation reporting system, established market
    makers, or pricing services. </FONT></TD>
</TR>
<TR>
  <TD nowrap valign=top>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
<TR>
  <TD nowrap valign=top>&nbsp;</TD>
  <TD><FONT size=1 face="sans-serif">Portfolio securities and other financial
      instruments for which market quotations are not readily available or if
      a development/event occurs that may significantly impact the value of a
      security are fair-valued, in good faith, pursuant to procedures established
      by the Board of Trustees or persons acting at their discretion pursuant
      to procedures established by the Board of Trustees. The Fund&#146;s investments
      are valued daily using prices supplied by an independent pricing service
      or dealer quotations, or the last quoted mean price for those
      securities for which the over-the-counter market is the primary market
      or for listed securities in which there were no sales. Prices obtained
      by independent pricing services use information provided by market makers
      or estimates of market values obtained from yield data relating to investments
      or securities with similar characteristics. Exchange traded options and
      futures are valued at the settlement price determined by the relevant exchange.
      Short-term securities maturing in 60 days or less are valued at amortized
      cost, if their original term to maturity was 60 days or less, or by amortizing
      their value on the 61st day prior to maturity, if the original term to
      maturity exceeded 60 days. The prices used by the Fund to value securities
      may differ from the value that would be realized if the securities were
      sold. The Fund&#146;s net asset value is normally determined daily as of
      the close of regular trading (normally, 4:00 p.m. Eastern time) on the
    New York Stock Exchange ("NYSE") on each day the NYSE is open for business.</FONT></TD>
</TR>
<TR>
  <TD nowrap valign=top>&nbsp;</TD>
  <TD>&nbsp;</TD>
</TR>
<TR>
	<TD nowrap valign=baseline>
<FONT size=1 face="sans-serif">(a)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Private Placement&#151;Restricted as to resale and may not have a readily available market. Securities with an aggregate value of &#36;2,400,699, representing 0.97% of total investments.</FONT></P>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(b)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Pre-refunded bonds are collateralized by U.S. Government or other eligible securities which are held in escrow and used to pay principal and interest and retire the bonds at the earliest refunding date
(payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate).</FONT></P>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(c)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">144A Security&#151;Security exempt from registration, under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, typically only to qualified
institutional buyers. Unless otherwise indicated, these securities are not considered to be illiquid.</FONT></P>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(d)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Inverse Floater&#151;The interest rate shown bears an inverse relationship to the interest rate on another security or the value of an index.
The interest rate disclosed reflects the rate in effect on August 31, 2008.</FONT></P>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(e)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Variable Rate Notes&#151;Instruments whose interest rates change on specified date (such as a coupon date or interest payment date) and/or whose interest rates vary with changes in a designated base
rate (such as the prime interest rate). The interest rate disclosed reflects the rate in effect on August 31, 2008.</FONT></P>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(f)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Maturity date shown is date of next put.</FONT></P>	</TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=1 face="sans-serif">(g)</FONT></TD>
	<TD width=100%>
<P align="left"><FONT size=1 face="sans-serif">Residual Interest Bonds held in
    trust&#151;Securities represent underlying bonds transferred to a separate
    securitization trust established in a tender option bond transaction in which
    the Fund  acquired the residual interest certificates. These securities serve
    as collateral in a financing transaction.</FONT></P>	</TD>
</TR>
</TABLE>
<P align="left">
<B><FONT size=1 face="sans-serif">Glossary:</FONT></B><BR>
<FONT size=1 face="sans-serif">AMBAC&#151;insured by American Municipal Bond Assurance Corp.</FONT><BR>
<FONT size=1 face="sans-serif">FGIC&#151;insured by Financial Guaranty Insurance Co.</FONT><BR>
<FONT size=1 face="sans-serif">FHA&#151;insured by Federal Housing Administration</FONT><BR>
<FONT size=1 face="sans-serif">FSA&#151;insured by Financial Security Assurance, Inc.</FONT><BR>
<FONT size=1 face="sans-serif">GNMA&#151;insured by Government National Mortgage Association</FONT><BR>
<FONT size=1 face="sans-serif">GO&#151;General Obligation Bond</FONT><BR>
<FONT size=1 face="sans-serif">MBIA&#151;insured by Municipal Bond Investors Assurance</FONT><BR>
<FONT size=1 face="sans-serif">NR&#151;Not Rated</FONT><BR>
<FONT size=1 face="sans-serif">Radian&#151;insured by Radian Guaranty, Inc.</FONT><BR>
<FONT size=1 face="sans-serif">TCRS&#151;Temporary Custodian Receipts</FONT></P>

<HR noshade align="center" width="100%" size=4>



<P align="left" style="page-break-before:always"></P><PAGE>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR>
     <TD></TD>
     <TD width=2%></TD>
     <TD width=7%></TD>
     <TD width=2%></TD>
     <TD width=7%></TD>
     <TD width=2%></TD>
     <TD width=7%></TD>
     <TD width=2%></TD>
     <TD width=2%></TD>
     <TD width=7%></TD>
     <TD width=2%></TD>
     <TD width=7%></TD>
     <TD width=2%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=1 face="sans-serif">Other Investments:</FONT></B>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=13>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<FONT size=1 face="sans-serif">(1) Futures contracts outstanding at August 31, 2008:</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">Market</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=center nowrap><FONT size=1 face="sans-serif">Value</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">Expiration</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">Unrealized</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Type</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">Contracts</FONT>	</TD>
	<TD width="2%" align=right nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">(000)</FONT>	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="2%" style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">Date</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">Appreciation</FONT>	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Short: U.S. Treasury Bond Futures</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">(194)</FONT>	</TD>
	<TD width="2%" align=right nowrap>&nbsp;</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">&#36;(22,759)</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=center nowrap><FONT size=1 face="sans-serif">12/19/08</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap style="border-bottom:2pt double #000000;">&nbsp;</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt double #000000;">
<FONT size=1 face="sans-serif">&#36;119,735</FONT>	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:2pt double #000000;">&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=13>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=5>
<FONT size=1 face="sans-serif">The Fund  pledged &#36;1,462,800 in cash to brokers
as collateral for futures contracts.</FONT>	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR>
	<TD colspan=13>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=3>
<FONT size=1 face="sans-serif">(2) Interest rate swap agreements outstanding at August 31, 2008:</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD align=center nowrap colspan=4 style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">Rate Type</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">Notional Amount</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">Termination</FONT>	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">Payments Made</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">Payments Received</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">Unrealized</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">
 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Swap Counterparty</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">(000)</FONT>	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif"></FONT>&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
 &nbsp; &nbsp; &nbsp;<FONT size=1 face="sans-serif">Date</FONT>	</TD>
	<TD width="2%" align=right nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">by Fund</FONT>	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="2%" style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">by Fund</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=center nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">Depreciation</FONT>	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Morgan Stanley</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;</TD>
	<TD width="7%" align=right nowrap>
<FONT size=1 face="sans-serif">&#36;33,300</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=right nowrap>
<FONT size=1 face="sans-serif">12/18/33</FONT>	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=right nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>	</TD>
	<TD width="2%" align=left nowrap>
<FONT size=1 face="sans-serif">%</FONT>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">3-Month USD-LIBOR</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;</TD>
	<TD width="7%" align=right nowrap>
<FONT size=1 face="sans-serif">&#36;(649,416</FONT>	</TD>
	<TD width="2%" align=left nowrap>
<FONT size=1 face="sans-serif">)</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">Royal Bank of Scotland</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=right nowrap>
<FONT size=1 face="sans-serif">12,800</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=right nowrap>
<FONT size=1 face="sans-serif">12/18/33</FONT>	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=right nowrap>
<FONT size=1 face="sans-serif">5.00</FONT>	</TD>
	<TD width="2%" align=left nowrap>
<FONT size=1 face="sans-serif">%</FONT>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=center nowrap>
<FONT size=1 face="sans-serif">3-Month USD-LIBOR</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">(217,120</FONT>	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">)</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD width="2%" align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;</TD>
	<TD width="7%" align=right nowrap style="border-bottom:2pt double black #000000;">
<FONT size=1 face="sans-serif">$(866,536</FONT>	</TD>
	<TD width="2%" align=left nowrap style="border-bottom:2pt double black #000000;">
<FONT size=1 face="sans-serif">)</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">LIBOR - London Inter-bank Offered Rate</FONT>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=7>
<FONT size=1 face="sans-serif">The Fund received &#36;1,500,000 par value in U.S. Treasury Bills as collateral for swap contracts.</FONT>	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%">&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=right nowrap>&nbsp;	</TD>
	<TD width="7%" align=left nowrap>&nbsp;	</TD>
	<TD width="2%" align=left nowrap>&nbsp;	</TD>
</TR>
</TABLE>
<BR>
<P align="left">
<B><FONT size=1 face="sans-serif">Fair Value Measurements</FONT></B><FONT size=1 face="sans-serif">&#150;Effective
June 1, 2008, the Fund adopted Financial Accounting Standards Board Statement
of Financial Accounting Standards No. 157, Fair Value  Measurements (&#147;FAS
157&#148;). This standard clarifies the definition of fair value for financial
reporting, establishes a framework for measuring fair value and requires additional
disclosures about the use of the fair value measurements. The  three levels of
the fair value hierarchy under FAS 157 are described below.</FONT></P>
<UL>
<LI>
<P align="left"><FONT size=1 face="sans-serif">Level 1 &#150; quoted prices in active markets for identical investments</FONT></P></LI>
<LI>
<P align="left"><FONT size=1 face="sans-serif">Level 2 &#150; other significant observable inputs (including quoted prices for similar investments, interest rates,</FONT> <FONT size=1 face="sans-serif">prepayment speeds, credit risk,
etc.)</FONT></P></LI>
<LI>
<P align="left"><FONT size=1 face="sans-serif">Level 3 &#150; significant unobservable inputs (including the Fund's own assumptions in determining the fair value</FONT> <FONT size=1 face="sans-serif">of investments)</FONT></P></LI>
</UL>
<P align="left">
<FONT size=1 face="sans-serif">The valuation techniques used by the Fund to measure
fair value during the period ended August 31, 2008 maximized the use of observable
inputs and minimized the use of unobservable inputs.  The
inputs or methodology used for valuing securities are not necessarily an indication
of the risk associated with investing in those securities. At August 31, 2008,
the Fund did not hold securities deemed as Level 3.</FONT></P>
<P align="left">
<FONT size=1 face="sans-serif">The following is a summary of the inputs used
at August 31, 2008 in valuing the Fund&#146;s investments carried at value:</FONT></P>
<TABLE border=0 width=60% cellspacing=0 cellpadding=0>
<TR>
     <TD></TD>
     <TD width=2%></TD>
     <TD width=6%></TD>
     <TD width=2%></TD>
     <TD width=8%></TD>
     <TD width=2%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-top:2pt solid #000000">&nbsp;	</TD>
	<TD colspan="2" align=right nowrap style="border-top:2pt solid #000000">
<B><FONT size=1 face="serif">Investments in</FONT></B>&nbsp;	</TD>
	<TD align=right nowrap style="border-top:2pt solid #000000">&nbsp;	</TD>
	<TD align=right nowrap style="border-top:2pt solid #000000">
<B><FONT size=1 face="serif">Other Financial</FONT></B>	</TD>
	<TD align=left nowrap style="border-top:2pt solid #000000">&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">
<B><FONT size=1 face="serif">Valuation Inputs</FONT></B>&nbsp;	</TD>
	<TD colspan="2" align=center nowrap style="border-bottom:2pt solid #000000;">
<B><FONT size=1 face="serif">Securities</FONT></B>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
	<TD align=center nowrap style="border-bottom:2pt solid #000000;">
<B><FONT size=1 face="serif">Instruments</FONT></B>	</TD>
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="serif">Level 1 - Quoted Prices</FONT>&nbsp;	</TD>
	<TD align=right nowrap><FONT size=1 face="sans-serif">&#36;</FONT> </TD>
	<TD width="6%" align=right nowrap>
<FONT size=1 face="sans-serif">&#151;</FONT>&nbsp;	</TD>
	<TD align=right nowrap>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">&#36;119,735</FONT>	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="serif">Level 2 - Other Significant</FONT>&nbsp;	</TD>
	<TD align=right nowrap>&nbsp;	</TD>
	<TD width="6%" align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="serif">&nbsp; &nbsp;&nbsp; &nbsp;Observable Inputs</FONT>&nbsp;	</TD>
	<TD align=right nowrap>&nbsp;	</TD>
	<TD width="6%" align=right nowrap>
<FONT size=1 face="sans-serif">246,451,710</FONT>&nbsp;	</TD>
	<TD align=right nowrap>&nbsp;	</TD>
	<TD align=right nowrap>
<FONT size=1 face="sans-serif">(866,536</FONT>	</TD>
	<TD align=left nowrap>
<FONT size=1 face="sans-serif">)</FONT>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=1 face="serif">Level 3 - Significant</FONT>&nbsp;	</TD>
	<TD align=right nowrap>&nbsp;	</TD>
	<TD width="6%" align=left nowrap>&nbsp;	</TD>
	<TD align=right nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
	<TD align=left nowrap>&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
 &nbsp; &nbsp;<FONT size=1 face="serif">Unobservable Inputs</FONT>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD width="6%" align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">&#151;</FONT>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=1 face="sans-serif">&#151;</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">&nbsp;	</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">
<B><FONT size=1 face="serif">Total</FONT></B>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">&#36;</FONT></TD>
	<TD width="6%" align=right nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">246,451,710</FONT>&nbsp;	</TD>
	<TD align=right nowrap style="border-bottom:2pt solid #000000;">&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">&#36;(746,801</FONT>	</TD>
	<TD align=left nowrap style="border-bottom:2pt solid #000000;">
<FONT size=1 face="sans-serif">)</FONT>&nbsp;	</TD>
</TR>
</TABLE>
<BR>

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<P align="left" style="page-break-before:always"></P><PAGE>
<P align="left">
<B><FONT size=2 face="serif">Item 2. Controls and Procedures</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
<FONT face="serif">(a) The registrant's President &amp; Chief Executive Officer and Treasurer, Principal Financial &amp; Accounting Officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under
the Act (17 CFR 270.30a -3(c))), are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing of this document. </FONT></P>
<P align="left">
<FONT face="serif">(b) There were no significant changes in the registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a -3(d))) that occurred during the registrant&#146;s last fiscal quarter
that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting. </FONT></P>
<P align="left">
<B><FONT size=2 face="serif">Item 3. Exhibits</FONT></B><FONT size=2 face="serif"> </FONT></P>
<P align="left">
<FONT face="serif"> (a) Exhibit 99.302 Cert. &#150; Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<P align="center">
<B><FONT size=2 face="serif">SIGNATURES</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. </FONT></P>
<P align="left">
<FONT size=2 face="serif">Registrant: PIMCO New York Municipal Income Fund II </FONT></P>
<P align="left">
<FONT size=2 face="serif">By /s/ Brian S. Shlissel </FONT><BR>
<FONT size=2 face="serif">President &amp; Chief Executive Officer</FONT><BR>
<BR>
<FONT size=2 face="serif">Date: October 16, 2008 </FONT></P>
<P align="left">
<FONT size=2 face="serif">By /s/ Lawrence G. Altadonna <br>
</FONT><FONT size=2 face="serif">Treasurer,
Principal Financial &amp; Accounting Officer</FONT></P>
<P align="left">
<FONT size=2 face="serif">Date: October 16, 2008</FONT></P>
<P align="left">
<FONT size=2 face="serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on
the dated indicated. </FONT></P>
<P align="left">
<FONT size=2 face="serif">By /s/ Brian S. Shlissel </FONT><BR>
<FONT size=2 face="serif">President &amp; Chief Executive Officer</FONT><BR>
<BR>
<FONT size=2 face="serif">Date: October 16, 2008 </FONT></P>
<P align="left">
<FONT size=2 face="serif">By /s/ Lawrence G. Altadonna <br>
</FONT><FONT size=2 face="serif">Treasurer,
Principal Financial &amp; Accounting Officer</FONT></P>
<P align="left">
<FONT size=2 face="serif">Date: October 16, 2008</FONT></P>

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<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>c55219_ex99-cert.htm
<TEXT>

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<P align="right">
<B><FONT size=2 face="serif">Exhibit 99.CERT</FONT></B></P>
<P align="center">
<B><FONT size=2 face="serif">CERTIFICATIONS</FONT></B></P>
<P align="left">
<FONT size=2 face="serif">I, Brian S. Shlissel, certify that:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">1.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">I have reviewed this report Form N-Q of PIMCO New York Municipal Income Fund II;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">2.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">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 the report;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">3.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report
is filed;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">a.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant,
including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">b.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">c.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Evaluated the effectiveness of the registrant&#146;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></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">d.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter that has materially affected, or
is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">5.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the
equivalent functions):</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">a.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">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&#146;s ability to
record, process, summarize, and report financial information; and</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">b.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</FONT></P>
	</TD>
</TR>
</TABLE>
<P align="left">
<FONT size=2 face="serif">Date: October 16, 2008<br>
<br>
Signature &amp; Title: /s/ Brian S. Shlissel<br>
Brian S. Shlissel, President &amp; Chief Executive Officer</FONT></P>

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<P align="left" style="page-break-before:always"></P><PAGE>
<P align="left">
<FONT size=2 face="serif">I, Lawrence G. Altadonna, certify that:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">1.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">I have reviewed this report Form N-Q of PIMCO New York Municipal Income Fund II;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">2.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">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 the report;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">3.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report
is filed;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">4.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">a.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant,
including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">b.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">c.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Evaluated the effectiveness of the registrant&#146;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></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">d.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter that has materially affected, or
is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
	<TD nowrap valign=top>
<FONT size=2 face="serif">5.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100% colspan=2>
<P align="left"><FONT size=2 face="serif">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the
equivalent functions):</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">a.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">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&#146;s ability to
record, process, summarize, and report financial information; and</FONT></P>
	</TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD>	<TD nowrap valign=top>
<FONT size=2 face="serif">b.</FONT>&nbsp; &nbsp; &nbsp; 	</TD>
	<TD width=100%>
<P align="left"><FONT size=2 face="serif">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting.</FONT></P>
	</TD>
</TR>
</TABLE>
<P align="left">
<FONT size=2 face="serif">Date: October 16, 2008</FONT></P>
<P align="left">
<FONT size=2 face="serif">Signature &amp; Title: /s/ Lawrence G. Altadonna </FONT><FONT face="serif"> <br>
</FONT><FONT size=2 face="serif">Lawrence
G. Altadonna, Treasurer, Principal Financial &amp; Accounting Officer</FONT></P>
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