Reoffering Yields

November 17, 2003, 2:00 a.m. EST 1 Min Read

NRO - Not Reoffered; S.B. - Sealed Bid; SNA - Sold, Not Available Offer Amount Date ($Mil) RECENT OFFERINGS 1 Year 5 10 15 20 25 30

Aaa AAA 10/21 67.7 Stamford, Conn. 0.95 2.38 SNA 4.27 SNA . 10/21 3.8 Northtown Muni. Util. Dist., Tex. 1.20 2.50 3.80 4.47 . 10/15 67.7 New Jersey Envir. Infrastructure Trust 2.47 3.80 4.41 4.85 . 10/8 311.1 Georgia State Road & Tollway Auth. 2.30 3.65 4.55 . 9/25 21.1 Cecil Co. Comm., Md. 1.09 2.22 3.57 4.16 4.62 . 9/25 2.5 Colleton Co., S.C. 0.95 2.15 3.50 . 9/24 4.0 Berkeley Heights, N.J. 1.00 2.25 3.57 4.05 . 9/18 16.7 Orange Co., Fla. 1.00 2.32 3.64 4.20 .

Aa1/Aa2/Aa3 AA+/AA/AA- 11/12 32.3 Shelby Co., Tenn. 1.00 2.48 3.78 4.32 4.70 4.85 . 11/12 10.2 Bernalillo Co., N.M. 2.48 3.76 4.32 NRO . 11/12 9.1 Hartford Co. Metro. Dist., Conn. NRO 2.45 3.63 4.15 4.52 . 11/10 4.1 Watertown, Mass. 1.07 2.48 3.80 4.34 . 11/6 7.3 Boulder Valley Sch. Dist. # RE-2, Colo. 1.10 2.50 3.75 . 11/5 8.2 East Noble Sch. Bldg. Corp., Ind. 2.40 3.60 4.10 . 11/5 164.0 Dallas, Tex. NRO 2.45 3.77 4.36 4.77 . 11/5 117.8 Virginia Coll. Bldg. Auth. NRO 2.35 3.65 4.20 .

A1/A2/A3 A+/A/A- 10/21 5.0 Cudahy Comm. Dev. Auth., Wis. 2.45 3.76 4.30 . 10/22 17.1 Horry Co. Sch. Dist., S.C. 1.00 2.36 3.73 . 10/2 7.5 Elizabethtown, Ky. 1.00 2.25 3.55 4.05 4.50 4.75 4.80 9/29 6.0 Blytheville Sch. Dist. #5, Ark. 2.25 3.55 4.05 NRO . 9/23 16.5 Gravette Sch. Dist. #20, Ark. 3.92 4.43 4.92 NRO . 9/15 2.4 Indianola, Iowa 1.10 2.50 3.75 4.30 9/15 1.2 Johnson, Iowa 1.10 2.50 3.75 9/8 6.6 Shawnee Co., Kan. 1.13 2.66 3.93 4.47 4.90

Baa1/Baa2/Baa3 BBB+/BBB/BBB- 10/22 1.1 Harris-Ft. Bend Cos. M.U.D. #5, Tex. 3.25 4.40 5.05 . 8/5 5.0 Midlothian, Tex. (rev.) 3.60 4.90 5.30 5.38 5.50 5.63 6/17 6.0 Dulce Ind. Sch. Dist. #6, N.M. 1.40 2.45 3.50 4/8 31.0 Rialto Redev. Agcy., Calif. 1.70 3.25 3.40 4.88 5.13 11/6 3.8 Carver Co. Hsg. Auth., Minn. (rev.) 2.75 4.00 5.00 5.20 5.50 10/17 3.8 Liberty-Eylau Ind. Sch. Dist., Tex. 1.65 2.80 3.70 4.45 4.90 5.10 10/9 5.0 St. John Parish Sch. Dist. #1, La. 1.25 2.45 3.35 4.00 4.50 9/17 2.6 Delano Econ. Dev. Auth., Minn. (rev.) 3.13 4.13 4.88 5.25