LOUISIANA: First Half

2002 2001

Volume No. of Volume No. of Pct.

($000s) Issues ($000s) Issues Chg TOTAL $1,785,300 113 $872,000 102 +104.7 % First Quarter 1,263,500 76 446,600 45 +182.9 Second Quarter 521,800 37 425,400 57 +22.7 Development 0 0 6,400 3 -100.0 Education 600,900 40 238,100 30 +152.4 Electric Power 18,300 1 0 0 n.m. Environmental Facilities 18,800 4 23,800 2 -21.0 Health Care 281,000 6 8,400 3 +3,245.2 Housing 173,600 15 138,900 11 +25.0 Public Facilities 14,200 9 145,200 22 -90.2 Transportation 91,800 3 88,200 9 +4.1 Utilities 75,400 11 29,700 6 +153.9 General Purpose 511,300 24 193,300 16 +164.5 Tax-Exempt 1,587,200 100 709,600 88 +123.7 Minimum-Tax 141,700 4 148,200 10 -4.4 Taxable 56,400 9 14,200 4 +297.2 New-Money 963,900 64 486,800 79 +98.0 Refunding 594,400 43 343,100 21 +73.2 Combined 227,000 6 42,100 2 +439.2 Negotiated 1,143,300 56 635,900 41 +79.8 Competitive 603,000 33 216,900 35 +178.0 Private Placements 39,000 24 19,200 26 +103.1 Revenue 1,155,100 65 544,700 58 +112.1 General Obligation 630,200 48 327,300 44 +92.5 Fixed-Rate 1,340,100 105 723,400 94 +85.3 Variable-Rate (Short Put) 53,900 3 105,100 7 -48.7 Variable-Rate (Long/No Put) 50,000 1 0 0 n.m. Zero-Coupon 18,000 2 0 0 n.m. Linked-Rate 323,300 4 43,500 1 +643.2 Bank-Qualified 111,800 27 120,500 38 -7.2 Bond Insurance 1,481,100 52 554,500 29 +167.1 Letters of Credit 49,900 2 53,300 4 -6.4 Insured Mortgages 112,600 11 117,900 10 -4.5 Standby Purchase Agreements 0 0 23,200 1 -100.0 State Governments 252,500 1 125,400 1 +101.4 State Agencies 733,200 27 180,000 12 +307.3 Municipalities 651,600 72 284,600 72 +129.0 Local Authorities 142,100 12 182,900 15 -22.3 Colleges & Universities 5,900 1 2,100 1 +181.0 Direct Issuers 0 0 97,000 1 -100.0 Private placements and municipal forwards are included, but short-term notes and remarketings are excluded. n.m. -- not meaningful; unch -- unchanged. Source: Thomson Financial Securities Data (7/13/02)