LOUISIANA: Full Year

2002 2001

Volume No. of Volume No. of Pct.

($000s) Issues ($000s) Issues Chg TOTAL $3,484,000 207 $3,042,500 195 +14.5 % First Quarter 1,263,800 78 446,600 45 +183.0 Second Quarter 526,600 46 425,400 57 +23.8 Third Quarter 987,000 39 312,700 38 +215.6 Fourth Quarter 706,600 44 1,857,800 55 -62.0 Development 29,400 2 28,800 7 +2.1 Education 820,600 63 344,900 45 +137.9 Electric Power 48,600 2 5,200 2 +834.6 Environmental Facilities 117,500 9 112,200 6 +4.7 Health Care 667,500 11 12,700 5 +5,155.9 Housing 293,000 21 323,800 24 -9.5 Public Facilities 67,800 15 183,400 30 -63.0 Transportation 132,500 5 148,700 14 -10.9 Utilities 255,600 27 84,000 14 +204.3 General Purpose 1,051,500 52 1,798,800 48 -41.5 Tax-Exempt 3,001,800 177 2,356,100 160 +27.4 Minimum-Tax 285,900 10 378,200 25 -24.4 Taxable 196,300 20 308,200 10 -36.3 New-Money 2,043,200 123 2,414,500 145 -15.4 Refunding 1,213,800 78 569,900 47 +113.0 Combined 227,000 6 58,100 3 +290.7 Negotiated 2,559,200 105 2,429,100 92 +5.4 Competitive 880,300 73 554,300 57 +58.8 Private Placements 44,500 29 59,100 46 -24.7 Revenue 2,566,300 122 2,592,700 127 -1.0 General Obligation 917,700 85 449,800 68 +104.0 Fixed-Rate 2,836,400 185 2,753,900 173 +3.0 Variable-Rate (Short Put) 235,000 16 230,900 19 +1.8 Variable (Long/No Put) 50,000 1 0 0 n.m. Zero-Coupon 13,100 2 7,100 2 +84.5 Linked-Rate 349,500 5 50,600 2 +590.7 Bank-Qualified 201,300 56 166,700 55 +20.8 Letters of Credit 125,700 11 91,100 9 +38.0 Insured Mortgages 137,600 12 252,800 22 -45.6 Standby Purch Agreements 0 0 23,200 1 -100.0 State Governments 527,500 3 125,400 1 +320.7 State Agencies 1,390,000 48 1,709,400 35 -18.7 Municipalities 1,199,900 136 830,300 129 +44.5 Local Authorities 349,400 18 270,900 27 +29.0 Colleges & Universities 17,400 2 9,600 2 +81.3 Direct Issuers 0 0 97,000 1 -100.0 Bond Insurance 2,684,400 92 1,080,300 53 +148.5 Private placements and municipal forwards are included, but short-term notes and remarketings are excluded. n.m. -- not meaningful; unch -- unchanged. Source: Thomson Financial (1/11/03)