WASHINGTON - District of Columbia officials yesterday said that fiscal 2009 revenues are expected to be $131 million less than earlier estimates, and that the figure could worsen in the coming months because it excludes the effects of recent market turmoil.

As the district tries to keep up with a tumultuous market, treasurer Lasana Mack also said yesterday that officials plan to replace Lehman Brothers Inc. as remarketing agent on $125 million of its variable-rate demand obligations and as counterparty on a $125 million interest rate swap in the next week to 10 days following the investment bank's bankruptcy.

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