Results of Competitive Sales

MASSACHUSETTS

Falmouth (Town)

Mar 20, 2009 . . . . . . $4,000,000

Bond Anticipation Note (new money) (bank qualified).

Dated Mar 30, 2009.

Due Mar 12, 2010.

Purchased $4,000,000.00 by Eastern Bank, at 1.5%, plus $27,398.00, effective rate 0.779%.

L.O.: Edwards Angell Palmer & Dodge, LLP, Boston, MA.

F.A.: First Southwest Company, Boston, MA.

Other bidders were:

DEPFA First Albany, Effective Rate 0.7872%

Sovereign Securities, Effective Rate 1.6168%

Bank of America, Effective Rate 1.69%

TD Bank, N.A., Effective Rate 1.89%

NEW JERSEY

Pine Hill Borough

Mar 20, 2009 . . . . . . $297,000

Special Emergency Notes of 2009 (bank qualified).

Dated Mar 27, 2009.

Due Mar 26, 2010.

Purchased $297,000.00 by TD Bank, N.A., at 2.38%, effective rate 2.38%.

L.O.: Parker, McCay, P.A., Marlton, NJ.

F.A.: Municipal Official(s).

Other bidders were:

Colonial Bk, FSB, Effective Rate 2.95%

NEW YORK

Nunda Village

Mar 20, 2009 . . . . . . $810,000

Bond Anticipation Notes, 2009 (Renewals) (bank qualified).

Dated Apr 3, 2009.

Due Apr 1, 2010.

Purchased $810,000.00 by J.P. Morgan Chase, at 2.26%, effective rate 2.26%.

L.O.: Timothy R. McGill, Esq., Fairport, NY.

F.A.: Bernard P. Donegan, Inc., Victor, NY.

Other bidders were:

M & T Bank, Effective Rate 3.3%

Rye Brook Village

Mar 19, 2009 . . . . . . $1,560,000

Public Improvement Refunding (Serial) Bonds, 2009 (bank qualified) (book entry).

Dated Apr 9, 2009.

Due Nov 15, 2009 to 2015.

Non-callable.

Winning bid: Roosevelt & Cross, at n/a, TIC 2.4384%.

Other managers: UBS Financial Services, Inc., Ramirez & Co., Inc., Stifel, Nicolaus & Co., Inc., CL King & Associates, Wachovia Securities, LLC.

L.O.: Fulbright & Jaworski, New York, NY.

F.A.: Capital Markets Advisors, LLC, Great Neck, NY.