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US$ Spread Product

Amount
(000s) Moody's S&P Issue Ticker Coupon Maturity Spread Benchmark

CORPORATES
1,221 Aa2 A+ NORWEST FINL INC WFC 5.38 9/30/03 EDSFFLAT
1,500 A1 A+ MELLON FINANCIAL MEL 5.75 11/15/03 EDSF-1
123 Baa3 BB+ CAPITAL ONE FINL COF 7.25 12/1/03 EDSF+155
213 Aa3 A+ MORGAN ST DEAN W MWD 5.63 1/20/04 EDSF-1
3,405 A2 /*- BBB GMAC GM 6.38 1/30/04 EDSF+90
13 A2 A BEAR STEARNS CO BSC 6.15 3/2/04 EDSF+3
5,600 A3 BBB+ TRANSAMERICA FIN AEGON 7.5 3/15/04 EDSF+25
950 Aa2 A+ CITICORP C 7.13 3/15/04 EDSF-2
2,625 Ba2 BB(*+) CMS PANHANDLE HLDG CO CMS 6.13 3/15/04 $102.75
6,207 A2 A LEHMAN BROS HLDG LEH 6.63 4/1/04 EDSFFLAT
2,500 A1 A+ CHASE MANHAT CRP JPM 5.75 4/15/04 EDSF-1
7,338 Aa1 AA- ASSOC CORP NA C 5.8 4/20/04 EDSF-3
500 Aaa AAA AIG SUNAMERICA AIG 6.25 6/2/04 EDSF+10
1,750 Baa3 BBB SANTA FE SNYDER DVN 8.05 6/15/04 EDSF+50
565 Baa2 BBB CLEVE ELEC/TOLEDO EDISON FE 7.67 7/1/04 L+40
1,500 Baa1 BBB+ ALBERTSON'S INC ABS 6.55 8/1/04 L+40
1,767 Baa1 BBB+ /*- DISNEY (WALT) CO DIS 7.3 2/8/05 +70 T 1 5/8 04/30/05
4,000 A2 A VODAFON AIRTOUCH VOD 7.63 2/15/05 +28 T 1 5/8 04/30/05
- Baa3 BBB- FRED MEYER INC KR 7.38 3/1/05 +93 T 1 5/8 04/30/05
10 Baa1 BBB+ KINDER MORGAN ENER PART KMP 8.000 3/15/05 +80 T 1 5/8 04/30/05
1,000 Baa2 BBB WEYERHAEUSER CO WY 5.5 3/15/05 +75 T 1 5/8 04/30/05
5,000 Baa1 BBB+ /*- AOL TIME WARNER AOL 5.63 5/1/05 +108 T 1 5/8 04/30/05
2,500 A2 /*+ A HOUSEHOLD FIN CO HSBC 8 5/9/05 +52 T 1 5/8 04/30/05
1,000 A2 A AT&T CAP CORP CIT 6.6 5/15/05 +115 T 6 3/4 05/15/05
800 Baa2 NA WEYERHAEUSER CO WY 6.43 7/12/05 +125 T 1 5/8 04/30/05
485 Ba1 BBB RELIANT ENERGY RESOURCES CNP 8.13 7/15/05 +200 T 1 5/8 04/30/05
1,150 A2 /*- BBB GMAC GM 7.5 7/15/05 +230 T 1 5/8 04/30/05
2,000 Aa3 A WACHOVIA CORP WB 7.45 7/15/05 +43 T 1 5/8 04/30/05
1,985 Aa2 AA /*- KIMBERLY-CLARK KMB 4.5 7/30/05 +25 T 1 5/8 04/30/05
9,000 Baa3 BBB TCI COMMUN INC CMCSA 8 8/1/05 +125 T 6 1/2 08/15/05
3,350 A3 BBB FORD MOTOR CRED F 7.6 8/1/05 $105.75
1,285 Aa3 A BANK ONE CORP ONE 7.63 8/1/05 +39 T 6 1/2 08/15/05
1,470 A2 A CIT GROUP INC CIT 7.25 8/15/05 +115 T 6 1/2 08/15/05
1,000 Baa3 BBB CONTINENTAL CABLEVISION CMCSA 8.88 9/15/05 +150 T 1 5/8 04/30/05
75 Baa1 BBB+ CONAGRA INC CAG 9.88 11/15/05 +95 T 5 3/4 11/15/05
7,533 Baa3 BBB COMCAST CABLE CMCSA 6.38 1/30/06 +120 T 5 5/8 02/15/06
1,000 A3 BBB FORD MOTOR CRED F 6.88 2/1/06 $104
4,280 A2 A CIT GROUP INC CIT 4.13 2/21/06 +115 T 5 5/8 02/15/06
5,000 Baa3 BBB-(*+) FRANCE TELECOM FRTEL 7.200 3/1/06 +80 T 3 02/15/08
5,325 Baa2 BBB SAFEWAY INC SWY 6.15 3/1/06 +120 T 5 5/8 02/15/06
5,000 A2 A BEAR STEARNS CO BSC 3 3/30/06 +50 T 5 5/8 02/15/06
4,000 Ba1 BB+ DELHAIZE AMERICA DELBB 7.38 4/15/06 $106
5,000 Baa1 BBB PSEG POWER LLC PEG 6.63 4/15/06 +90 T 4 5/8 05/15/06
1,000 A3 BBB+ INGERSOLL-RAND IR 6.25 5/15/06 +57 T 4 5/8 05/15/06

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2,266 A2 A LEHMAN BROS HLDG LEH 6.25 5/15/06 +42 T 4 5/8 05/15/06
935 A3 A- PSI ENERGY INC CIN 6.65 6/15/06 +35 T 4 5/8 05/15/06
5,620 Aa3 A BANK ONE CORP ONE 6.88 8/1/06 +44 T 7 07/15/06
6,450 Aa2 AA WAL-MART STORES WMT 5.45 8/1/06 +20 T 4 5/8 05/15/06
483 Baa2 BBB CSX CORP CSX 9 8/15/06 +105 T 7 07/15/06
285 Baa2 BBB ENERGY EAST CORP EAS 5.750 11/15/06 +80 T 3 1/2 11/15/06
2,000 Baa2 BBB+ /*- AT&T CORP T 7 11/15/06 +145 T 3 02/15/08
1,400 Baa3 BB+ CAPITAL ONE FINL COF 8.75 2/1/07 $110.875
5,000 Aaa AAA GEN ELEC CAP CRP GE 5 2/15/07 +5 T 3 02/15/08
3,570 Aa2 A+ WELLS FARGO & CO WFC 5.13 2/15/07 +-2 T 3 02/15/08
1,150 Baa2 BBB- DPL INC DPL 8.25 3/1/07 +200 T 3 02/15/08
1,000 Aa1 AA- CITIGROUP INC C 5 3/6/07 +4 T 3 02/15/08
1,795 Aaa AAA GEN ELEC CAP CRP GE 5.38 3/15/07 +10 T 3 02/15/08
5,750 Aa3 A+ MORGAN ST DEAN W MWD 5.8 4/1/07 +24 T 3 02/15/08
5,000 Baa1 BBB+ /*- AOL TIME WARNER AOL 6.15 5/1/07 +104 T 3 02/15/08
75 Baa2 BBB CSX CORP CSX 7.45 5/1/07 +70 T 3 02/15/08
4,300 Baa1 BBB BANK UNITED CORP WM 8.88 5/1/07 +60 T 3 02/15/08
4,360 Ba1 BBB- WESTAR ENERGY INC WR 7.88 5/1/07 +120 T 3 02/15/08
5,000 Baa1 BBB+ /*- DISNEY (WALT) CO DIS 5.38 6/1/07 +65 T 3 02/15/08
3,650 A2 A CHASE MANHAT CRP JPM 7.25 6/1/07 +53 T 3 02/15/08
5,000 A3 BBB+ /*- KRAFT FOODS INC KFT 5.25 6/1/07 +100 T 3 02/15/08
5,000 Baa3 /*- BBB- TENET HEALTHCARE THC 5 7/1/07 +290 T 3 02/15/08
5,000 Aa2 AA WAL-MART STORES WMT 4.38 7/12/07 +5 T 3 02/15/08
1,000 Aa3 AA- /*- SOUTHWN BELL TEL SBC 6.63 7/15/07 +50 T 3 02/15/08
1,000 Baa2 BBB SAFEWAY INC SWY 4.8 7/16/07 +106 T 3 02/15/08
375 Baa1 BBB+(*-) TIME WARNER INC AOL 8.18 8/15/07 +155 T 3 02/15/08
600 A1(*-) BBB+(*-) SOUTHWESTERN ELEC POWER AEP 7 9/1/07 +70 T 3 02/15/08
3,120 Aa3 A BANK ONE CORP ONE 4.13 9/1/07 +19 T 3 02/15/08
10,000 Aa2 AA CHEVRONTEXACO CP CVX 3.5 9/17/07 +9 T 3 02/15/08
1,000 A2 A CIT GROUP INC CIT 5.75 9/25/07 +95 T 3 02/15/08
300 A2 A+ /*- CATERP FIN SERV CAT 5.13 10/15/07 +40 T 3 02/15/08
3,000 A3 A- CONOCOPHILLIPS COP 3.63 10/15/07 +20 T 3 02/15/08
2,700 Aa3 AA- GILLETTE COMPANY G 3.5 10/15/07 +18 T 3 02/15/08
800 Baa3 BBB UNION PACIFIC CO UNP 6.79 11/9/07 +70 T 3 02/15/08
375 Aaa AAA TIAA GLOBAL MKTS TIAAGL 4.13 11/15/07 +22 T 3 02/15/08
5,000 Aa2 A+ BANK OF AMERICA BAC 3.88 1/15/08 +34 T 3 02/15/08
2,000 Baa1 BBB CENDANT CORP CD 6.25 1/15/08 +140 T 3 02/15/08
1,850 Aa3 A+ CRED SUIS FB USA CRDSUI 4.63 1/15/08 +70 T 3 02/15/08
3,558 A3 BBB+ DAIMLERCHRYS NA DCX 4.75 1/15/08 +108 T 3 02/15/08
5,000 A3 A- /*- JOHN DEERE CAP DE 3.9 1/15/08 +56 T 3 02/15/08
5,700 Aaa AAA GEN ELEC CAP CRP GE 4.25 1/15/08 +47 T 3 02/15/08
4,440 Aa3 A+ GOLDMAN SACHS GS 4.13 1/15/08 +55 T 3 02/15/08
3,000 A2 /*+ A HOUSEHOLD FIN CO HSBC 4.63 1/15/08 +78 T 3 02/15/08
6,000 A2 A+ /*- MCDONALD'S CORP MCD 5.95 1/15/08 +52 T 3 02/15/08
6,900 Aa2 A+ BANK ONE NA ILL ONE 3.7 1/15/08 +37 T 3 02/15/08
5,117 A2 A LEHMAN BROS HLDG LEH 4 1/22/08 +59 T 3 02/15/08
2,000 A2 A BEAR STEARNS CO BSC 4 1/31/08 +53 T 3 02/15/08
5,020 Aa1 AA- CITIGROUP INC C 3.5 2/1/08 +44 T 3 02/15/08
2,000 Baa3 BBB- CONSUMERS ENERGY CMS 6.38 2/1/08 +100 T 3 02/15/08
715 A1 A+ CONS EDISON CO OF NY ED 6.250 2/1/08 +45 T 3 02/15/08
2,500 A1 A+ JP MORGAN CHASE JPM 4 2/1/08 +56 T 3 02/15/08
100 A1 A+ NATIONAL RURAL UTILITIES NRUC 6.2 2/1/08 +50 T 3 02/15/08
1,200 A1 A /*- FLEET FINL GROUP FBF 3.85 2/15/08 +59 T 3 02/15/08
75 A2 A LEHMAN BROS INC LEH 6.63 2/15/08 +75 T 3 02/15/08
4,200 Aa3 A BANK ONE TEXAS ONE 6.25 2/15/08 +54 T 3 02/15/08
5,000 Baa1 BBB+ PHH CORP CD 6 3/1/08 +180 T 3 02/15/08
5,000 Baa3 BBB- FRED MEYER INC KR 7.45 3/1/08 +108 T 3 02/15/08
2,000 A2 A+ TARGET CORP TGT 3.38 3/1/08 +35 T 3 02/15/08
6,850 A2 A SLM CORP SLMA 3.63 3/17/08 +51 T 3 02/15/08
6,000 A3 BBB+ POPULAR NA INC BPOP 4.25 4/1/08 +88 T 3 02/15/08

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8,520 Aa3 A+ MORGAN STANLEY MWD 3.63 4/1/08 +64 T 3 02/15/08
3,000 Aa2 A+ WELLS FARGO CO WFC 3.5 4/4/08 +42 T 3 02/15/08
7,000 Aa3 A+ MERRILL LYNCH MER 3.7 4/21/08 +66 T 3 02/15/08
5,000 Baa1 BBB COX ENTERPRISES COX 4.38 5/1/08 +116 T 3 02/15/08
4,000 Aaa AAA GEN ELEC CAP CRP GE 3.5 5/1/08 +60 T 3 02/15/08
2,000 A1 A+ JP MORGAN CHASE JPM 3.63 5/1/08 +65 T 3 02/15/08
1,000 A3 A- PUBLIC SERVICE EL & GAS PEG 6.38 5/1/08 +70 T 3 02/15/08
4,000 NA NA CIT GROUP INC CIT 4 5/8/08 +125 T 3 02/15/08
2,000 Baa1 A MONSANTO COMPANY MON 4 5/15/08 +103 T 3 02/15/08
6,488 A2 /*+ A HOUSEHOLD FIN CO HSBC 6.4 6/17/08 +91 T 3 02/15/08
5,928 A1 A+ GTE NORTH INC VZ 5.650 11/15/08 +85 T 3 02/15/08
100 A2(*-) A- WISCONSIN ENERGY CORP WEC 5.5 12/1/08 +65 T 4 3/4 11/15/08
150 A3 A- DUKE ENERGY CORP DUK 5.38 1/1/09 +100 T 3 02/15/08
2,500 Baa1 BBB+ NEW CENTURY ENERGIES XEL 6.2 3/1/09 +95 T 4 3/4 11/15/08
500 Baa3 BBB- CLEAR CHANNEL COMMUNICATIONS CCU 4.25 5/15/09 +140 T 3 02/15/08
1,000 Baa3 BBB COMCAST CABLE COMM CMCSA 6.88 6/15/09 +130 T 5 1/2 05/15/09
5,000 Aa2 AA WAL-MART STORES WMT 6.88 8/10/09 +41 T 6 08/15/09
2,000 A3(*-) A- PPL ELECTRIC UTILITIES PPL 6.25 8/15/09 +58 T 6 08/15/09
4,460 Baa3 BBB- PSEG ENERGY HOLDINGS PEG 10 10/1/09 +300 T 6 08/15/09
5,000 A3 BBB FORD MOTOR CRED F 7.38 10/28/09 +285 T 3 7/8 02/15/13
500 Baa2 BBB LOCKHEED MARTIN LMT 8.2 12/1/09 +65 T 6 08/15/09
25 Baa3 BBB- /*+ TRW INC NOC 6.25 1/15/10 +85 T 6 1/2 02/15/10
965 A1 A+ NATIONAL RURAL UTILITIES NRUC 5.7 1/15/10 +50 T 6 1/2 02/15/10
5,000 Aa3 A+ MORGAN STANLEY MWD 4.25 5/15/10 +86 T 6 1/2 02/15/10
400 A3 A- VIACOM INC VIA 7.7 7/30/10 +25 T 3 7/8 02/15/13
1,711 Aa2 A+ CITIGROUP INC C 7.25 10/1/10 +38 T 3 7/8 02/15/13
2,000 Caa2 B(*-) DYNEGY-ROSETON DANSKAMME DYN 7.27 11/8/10 $97
2,000 Baa3 BBB-(*+) SPRINT CAPITAL CORP FON 7.625 1/30/11 $103.50
5,000 A3 BBB FORD MOTOR CRED F 7.38 2/1/11 +310 T 3 7/8 02/15/13
395 Aa3 AA NORTHERN ILL GAS GAS 6.63 2/1/11 +40 T 3 7/8 02/15/13
4,000 A2 A CARDINAL HEALTH CAH 6.75 2/15/11 +48 T 3 7/8 02/15/13
5,000 Baa2 BBB HERTZ CORP F 7.4 3/1/11 +320 T 3 7/8 02/15/13
2,500 A2 A+ UNITED TECH CORP UTX 6.35 3/1/11 +30 T 3 7/8 02/15/13
5,100 A2 /*- BBB GMAC GM 7.25 3/2/11 +260 T 3 7/8 02/15/13
45 Baa2 BBB COX COMMUNICATIONS INC COX 6.75 3/15/11 +75 T 3 7/8 02/15/13
500 Baa1 BBB+(*-) AOL TIME WARNER INC AOL 6.75 4/15/11 +220 T 3 7/8 02/15/13
(1,370) A3 BBB+ CONSOLIDATED NATURAL GAS D 6.850 4/15/11 +80 BID T 3 7/8 02/15/13
2,350 Baa2 BBB CITIZENS COMMUNICATIONS CZN 9.250 5/15/11 +130 T 3 7/8 02/15/13
2,000 Ba3 BB+ GEORGIA-PACIFIC GP 8.13 5/15/11 $101
325 A1 BBB+ FLORIDA POWER CORP PGN 6.65 7/15/11 +50 T 3 7/8 02/15/13
6,356 A2 /*- BBB GMAC GM 6.88 9/15/11 +260 T 3 7/8 02/15/13
5,000 A3 A+ SARA LEE CORP SLE 6.25 9/15/11 +55 T 3 7/8 02/15/13
6,000 Baa2 BBB DEVON FINANCING DVN 6.88 9/30/11 +72 T 3 7/8 02/15/13
2,000 Baa3 BBB TYSON FOODS INC TSN 8.25 10/1/11 +165 T 3 7/8 02/15/13
1,850 A1 A+ BELLSOUTH CORPORATION BLS 6.000 10/15/11 +50 T 3 7/8 02/15/13
2,500 A2 /*+ A HOUSEHOLD FIN CO HSBC 6.38 10/15/11 +86 T 3 7/8 02/15/13
5,000 A3 BBB FORD MOTOR CRED F 7.25 10/25/11 +310 T 3 7/8 02/15/13
2,000 A3 BBB+ /*- KRAFT FOODS INC KFT 5.63 11/1/11 +100 T 3 7/8 02/15/13
75 A3 A PACIFICORP SCOTPO 6.9 11/15/11 +60 T 3 7/8 02/15/13
5,000 Baa3 /*- BBB- TENET HEALTHCARE THC 6.38 12/1/11 +310 T 3 7/8 02/15/13
3,000 Aa3 A+ CRED SUIS FB USA CRDSUI 6.5 1/15/12 +92 T 3 7/8 02/15/13
8,000 A3 BBB+ DAIMLERCHRYS NA DCX 7.3 1/15/12 +115 T 3 7/8 02/15/13
1,280 A2 /*- BBB GMAC GM 7 2/1/12 +260 T 3 7/8 02/15/13
2,000 A3 A+ /*- BOEING CAP CORP BA 6.5 2/15/12 +140 T 3 7/8 02/15/13
5,000 A1 AA- SBC COMMUNICATIONS SBC 5.875 2/15/12 +65 T 3 7/8 02/15/13
5,000 Aa1 AA- CITIGROUP INC C 6 2/21/12 +51 T 3 7/8 02/15/13
5,000 A2 A+ TARGET CORP TGT 5.88 3/1/12 +58 T 3 7/8 02/15/13
5,000 A3 A- /*- JOHN DEERE CAP DE 7 3/15/12 +82 T 3 7/8 02/15/13
1,300 Aa3 AA ELI LILLY LLY 6 3/15/12 +32 T 3 7/8 02/15/13
5,000 Baa2 BBB WEYERHAEUSER CO WY 6.75 3/15/12 +105 T 3 7/8 02/15/13

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3,675 Baa2 BBB MEADWESTVACO COR MWV 6.85 4/1/12 +100 T 3 7/8 02/15/13
2,000 Baa1 BBB+ /*- SEARS ROEBUK ACC S 6.7 4/15/12 +175 T 3 7/8 02/15/13
3,000 Ba1 BBB- HCA INC HCA 6.95 5/1/12 +187 T 3 7/8 02/15/13
2,400 A2 /*+ A HOUSEHOLD FIN CO HSBC 7 5/15/12 +98 T 3 7/8 02/15/13
2,000 A3 BBB+ /*- KRAFT FOODS INC KFT 6.25 6/1/12 +108 T 3 7/8 02/15/13
4,000 Baa3 /*- BBB- TENET HEALTHCARE THC 6.5 6/1/12 +315 T 3 7/8 02/15/13
2,000 Baa3 BBB- FALCONBRIDGE LTD FALCF 7.35 6/5/12 +175 T 3 7/8 02/15/13
5,590 Aaa AAA GEN ELEC CAP CRP GE 6 6/15/12 +69 T 3 7/8 02/15/13
5,500 Baa3 BBB- KROGER CO KR 6.2 6/15/12 +113 T 3 7/8 02/15/13
2,100 A2 BBB TAMPA ELECTRIC TE 6.88 6/15/12 +88 T 3 7/8 02/15/13
6,937 A2 A+ VERIZON GLOBAL FDG CORP VZ 6.875 6/15/12 +87 T 3 7/8 02/15/13
290 A1 A+ CONSOLIDATED ED CO NY ED 5.625 7/1/12 +45 T 3 7/8 02/15/13
2,300 Baa2 BBB SAFEWAY INC SWY 5.8 8/15/12 +123 T 3 7/8 02/15/13
7,200 Baa1 BBB TAMPA ELECTRIC TE 6.38 8/15/12 +88 T 3 7/8 02/15/13
5,990 Aa2 A+ CITIGROUP INC C 5.63 8/27/12 +69 T 3 7/8 02/15/13
4,000 A2 /*- BBB GMAC GM 6.88 8/28/12 +260 T 3 7/8 02/15/13
5,000 A3 A- PUBLIC SERVICE EL & GAS PEG 5.13 9/1/12 +50 T 3 7/8 02/15/13
5,000 Aa2 A+ BANK OF AMERICA BAC 4.88 9/15/12 +60 T 3 7/8 02/15/13
5,000 A3 A- DOW CHEMICAL DOW 6 10/1/12 +110 T 3 7/8 02/15/13
10,000 A2 A PECO ENERGY CO EXC 4.75 10/1/12 +48 T 3 7/8 02/15/13
5,000 A1 A+ SOUTHERN CALIF GAS CO SRE 4.8 10/1/12 +48 T 3 7/8 02/15/13
5,000 Baa1 BBB+ PUBLIC SERVICE CO OF COLO XEL 7.88 10/1/12 +88 T 3 7/8 02/15/13
1,000 Ba1 BB+ BOWATER INC BOW 9.5 10/15/12 +325 T 3 7/8 02/15/13
5,000 Baa2 BBB INTL PAPER CO IP 5.85 10/30/12 +90 T 3 7/8 02/15/13
2,120 A2 /*+ A HOUSEHOLD FIN CO HSBC 6.38 11/27/12 +102 T 3 7/8 02/15/13
2,540 A3 A CAMPBELL SOUP CO CPB 5 12/3/12 +60 T 3 7/8 02/15/13
3,015 A2 A JP MORGAN CHASE JPM 5.75 1/2/13 +104 T 3 7/8 02/15/13
2,000 A3 A+ /*- BOEING CAP CORP BA 5.8 1/15/13 +142 T 3 7/8 02/15/13
4,000 Aa2 A+ BANK OF AMERICA BAC 4.88 1/15/13 +62 T 3 7/8 02/15/13
2,000 Baa1 BBB CENDANT CORP CD 7.38 1/15/13 +167 T 3 7/8 02/15/13
5,000 Aaa AAA GEN ELEC CAP CRP GE 5.45 1/15/13 +75 T 3 7/8 02/15/13
6,940 A1 A+ VERIAON FLORIDA INC VZ 6.125 1/15/13 +80 T 3 7/8 02/15/13
4,585 Aaa AAA ASIF GLOB FN XIX AIG 4.9 1/17/13 +68 T 3 7/8 02/15/13
10,000 Aaa AAA GE COMPANY GE 5 2/1/13 +65 T 3 7/8 02/15/13
5,000 Baa3 BBB- KROGER CO KR 5.5 2/1/13 +118 T 3 7/8 02/15/13
5,000 Baa3 /*- BBB- TENET HEALTHCARE THC 7.38 2/1/13 +340 T 3 7/8 02/15/13
2,000 A2 A+ /*- BOEING CO BA 5.13 2/15/13 +103 T 3 7/8 02/15/13
2,795 Baa1 BBB+ PHH CORP CD 7.13 3/1/13 +197 T 3 7/8 02/15/13
2,645 Aa3 A+ MORGAN STANLEY MWD 5.3 3/1/13 +93 T 3 7/8 02/15/13
5,247 Baa3 BBB NISOURCE FINANCE CORP NI 6.15 3/1/13 +105 T 3 7/8 02/15/13
3,000 Baa1 BBB+ PUBLIC SERVICE COLORADO XEL 4.88 3/1/13 +80 T 3 7/8 02/15/13
3,000 Baa3 BBB VALERO LOGISTICS VLI 6.05 3/15/13 +150 T 3 7/8 02/15/13
3,325 Aa3 A+ VERIZON VIRGINIA INC VZ 4.625 3/15/13 +75 T 3 7/8 02/15/13
4,520 A2 A+ BECTON DICKINSON BDX 4.55 4/15/13 +45 T 3 7/8 02/15/13
9,000 A2 NA EMERSON ELECTRIC EMR 4.5 5/1/13 +56 T 3 7/8 02/15/13
10,000 Aa2 AA WAL-MART STORES WMT 4.55 5/1/13 +50 T 3 7/8 02/15/13
5,000 Aa2 A+ BANK OF AMERICA BAC 5.13 11/15/14 +83 T 3 7/8 02/15/13
5,297 Baa3 BBB TXU CORP TXU 7.46 1/1/15 +130 T 4 3/4 11/15/08
10,000 A2 A VODAFONE GROUP PLC VOD 5.375 1/30/15 +102 T 3 7/8 02/15/13
2,000 Baa1 BBB CENDANT CORP CD 7.13 3/15/15 +195 T 3 7/8 02/15/13
2,500 Aa3 A US BANK NA USB 4.8 4/15/15 +86 T 3 7/8 02/15/13
7,000 A1 A- BANK ONE CORP ONE 4.9 4/30/15 +96 T 3 7/8 02/15/13
5,000 A2 A JP MORGAN CHASE JPM 5.25 5/1/15 +126 T 3 7/8 02/15/13
5,000 Aa2 A+ CITIGROUP INC C 4.88 5/7/15 +95 T 3 7/8 02/15/13
505 Ba1 BBB- COLUMBIA/HCA HCA 7.19 11/15/15 +220 T 3 7/8 02/15/13
4,045 Aa3 A NATIONSBANK CORP BAC 7.8 9/15/16 +103 T 3 7/8 02/15/13
1,000 Baa1 BBB NORFOLK SOUTHERN NSC 7.7 5/15/17 +135 T 3 7/8 02/15/13
2,725 NA A+ ANHEUSER BUSCH BUD 4.5 4/1/18 +82 T 3 7/8 02/15/13
1,000 Aa3 AA PITNEY BOWES INC PBI 4.75 5/15/18 +87 T 3 7/8 02/15/13
1,425 A2 BBB PENNSYLVANIA ELECTRIC FE 6.625 4/1/19 +160 T 3 7/8 02/15/13

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2,000 Baa3 BBB-(*+) SPRINT CAPITAL CORP FON 6.900 5/1/19 $92.50
6,210 Baa2 BBB- ONCOR ELECTRIC DELIVERY TXU 7 9/1/22 +110 T 5 3/8 02/15/31
10 A2 A GEORGIA POWER COMPANY SO 5.88 12/1/22 +60 T 5 3/8 02/15/31
100 Baa1 BBB+(*-) TIME WARNER INC AOL 9.15 2/1/23 +225 T 5 3/8 02/15/31
30 Baa2 BBB LORAL CORP LMT 8.38 6/15/24 +120 T 5 3/8 02/15/31
1,449 A2 A VIRGINIA ELECTRIC & POWER D 8.25 3/1/25 $114.25
100 Baa1 BBB NORFOLK SOUTHERN NSC 7.8 5/15/27 +120 T 5 3/8 02/15/31
6,500 Baa1 BBB+ TALISMAN ENERGY TLM 7.25 10/15/27 +110 T 5 3/8 02/15/31
8,480 Baa1 BBB FORD MOTOR CO F 6.63 2/15/28 +350 T 5 3/8 02/15/31
1,000 Baa1 A- NORDSTROM INC JWN 6.95 3/15/28 +155 T 5 3/8 02/15/31
550 Baa2 BBB+ AMER STORES CO ABS 7.1 3/20/28 +170 T 5 3/8 02/15/31
1,000 A2 A- FLEET FINL GROUP FBF 6.7 7/15/28 +95 T 5 3/8 02/15/31
2,000 A2 A ALLTEL CORP AT 6.800 5/1/29 +90 T 5 3/8 02/15/31
7,495 A3 BBB+ ROHM & HAAS CO ROH 7.85 7/15/29 +97 T 5 3/8 02/15/31
5,000 Baa3 BBB /*- AMERADA HESS AHC 7.88 10/1/29 +158 T 5 3/8 02/15/31
275 Aa3 AA- PROCTER & GAMBLE PG 8 10/26/29 +73 T 5 3/8 02/15/31
5,000 A3 A- DOW CHEMICAL CO DOW 7.38 11/1/29 +133 T 5 3/8 02/15/31
365 Aa3 A+ NEW ENG TEL & TEL VZ 7.875 11/15/29 +115 T 5 3/8 02/15/31
5,000 Baa2 BBB LOCKHEED MARTIN LMT 8.5 12/1/29 +110 T 5 3/8 02/15/31
1,190 A1 A+ BELLSOUH CAP FUNDING BLS 7.875 2/15/30 +85 T 5 3/8 02/15/31
1,630 Baa3 BBB+ DEUTSCHE TELEKOM INT FIN DT 8.250 6/15/30 +203 T 5 3/8 02/15/31
3,470 Baa1 BBB+ CONAGRA INC CAG 8.25 9/15/30 +111 T 5 3/8 02/15/31
5,750 Baa1 A- BRITISH TELECOM PLC BRITEL 8.625 12/15/30 +153 T 5 3/8 02/15/31

7,000 Aaa AAA GEN ELEC CAP CRP GE 6.75 3/15/32 +80 T 5 3/8 02/15/31
9,000 Baa2 BBB WEYERHAEUSER CO WY 7.38 3/15/32 +145 T 5 3/8 02/15/31
4,250 Baa2 A- AMERENENERGY GENERATING AEE 7.95 6/1/32 +110 T 5 3/8 02/15/31
5,895 Baa3 BBB+ DEUTSCHE TELEKOM INT FIN DT 9.250 6/1/32 +170 T 5 3/8 02/15/31
2,000 Baa1 BBB+ /*- SEARS ROEBUK ACC S 7 6/1/32 +185 T 5 3/8 02/15/31
3,100 A3 A- DETROIT EDISON CO DTE 6.350 10/15/32 +68 T 5 3/8 02/15/31
2,000 A2 A+ TARGET CORP TGT 6.35 11/1/32 +83 T 5 3/8 02/15/31
740 Baa2 BBB MEADWESTVACO COR MWV 6.8 11/15/32 +138 T 5 3/8 02/15/31
5,000 A1 A+ UNILEVER CAPITAL ULVR 5.9 11/15/32 +67 T 5 3/8 02/15/31
5,000 Aa3 A+ GOLDMAN SACHS GS 6.13 2/15/33 +104 T 5 3/8 02/15/31
10,000 Baa3 BBB /*- AMERADA HESS AHC 7.13 3/15/33 +151 T 5 3/8 02/15/31
5,000 Baa1 BBB+ DOMINION RESOURCES INC D 6.3 3/15/33 +107 T 5 3/8 02/15/31

US$ FLOATERS
8,500 A2 /*- BBB GMAC GM 10/15/03 Reoffer 1.80MMY
3ML+100, Q/Q Cusip: 37042WF22

15,000 A2 A CIT GROUP INC CIT 12/5/03 Reoffer L+15


3ML+20, Q/Q Cusip: 12560PCJ8

1,700 Baa1 BBB+ /*- SEARS ROEBUK ACC S 1/7/04 Reoffer L+160
3ML+295, Q/Q Cusip: 81240QMS8

4,750 A2 A CIT GROUP INC CIT 1/9/04 Reoffer L+35


3ML+125, Q/Q Cusip: 12560PCQ2

1,000 Baa1 BBB+ /*- SEARS ROEBUK ACC S 2/23/04 Reoffer L+165
3ML+280, Q/Q Cusip: 81240QMT6

Page 5
35,000 Aa3 AA JOHN HANCOCK II JHF 7/1/04 Reoffer L+1
3ML+5, Q/Q Cusip: 41011WAU4

7,850 A2 A+ /*- CATERP FIN SERV CAT 6/6/05 Reoffer L+9


3ML+25, Q/Q Cusip: 14912LU90

4,900 A2 /*+ A HOUSEHOLD FIN CO HSBC 6/17/05 Reoffer L+10


3ML+30, Q/Q Cusip: 441812FZ2
5000
- - - - - - - - -

Page 6
Tel: (212) 412-2501
Fax: (212) 412-1050

Comments CUSIP

200mm Issue 669383DQ1


300mm Issue 585510CH1
125mm Issue 14040HAA3
Global, 2bln Issued 617446DE6
MTN, 1.605505bln Issued 37042WC58
Global, 750mm Issue 073902BM9
200mm Issue 893502BQ6
Subs, 200mm Issue 173034GK9
12589YAB5
Global, 1.25bln Issued 524908BZ2
500mm Issue 16161ABV9
Global, 1.5bln Issued 046003KA6
EC1380996
Sr.Notes 80218KAA3
186118AH8
Sr.Notes 013104AD6
Global, 25468PBJ4
Global, 92857TAF4
Guaranteed 592907AA7
494550AE6
Global, 962166BK9
Global, Guaranteed 00184AAD7
Global, 2bln Issued 441812GL2
Domestic,Guaranteed, 300mm Issue
00206HH72
96216HBM1
75953GAB9
Global, 2bln Issued 370425RS1
Global, Sr.Notes, 550mm Issue 929771AQ6
144A, 494368AV5
Sr.Notes 872287AB3
Global, 4bln Issued 345397SU8
Global, 2bln Issued 06423AAF0
350mm Issue 125569DQ3
211177AJ9
Sr.Notes 205887AB8
Sr.Notes 20029PAK5
Global, 6.5bln Issued 345397TR4
125577AN6
35177PAJ6
786514BB4
Global, 1.25bln Issued 073902CB2
Global, Guaranteed 246688AD7
69362BAC6
Global, 456866AQ5

Page 7
Global, 1.75bln Issued 524908DD9
693627AV3
Global, 1bln Issued 06423AAD5
Global, Sr.Notes 931142BN2
126408AD5
29266MAC3
Global, Sr.Notes 001957BB4
300mm Issue 14040HAF2
Global, 1.25bln Issued 36962GXR0
Global, Sr.Notes, 1.5bln Issued 949746CH2
233293AE9
Global, 1.5bln Issued 172967BK6
Global, 2.275bln Issued 36962GXY5
Global, 2.5bln Issued 617446HB8
Global, Guaranteed 00184AAE5
126408BK8
Subs, 220mm Issue 065412AC2
959425AT6
Global, 25468PBZ8
Subs, 300mm Issue 16161ABP2
Global, 50075NAG9
Sr.Notes 88033GAX8
Global, 931142BR3
845335BV9
786514BE8
887315AX7
845437AR3
Global, Sr.Notes, 500mm Issue 06423AAR4
Global, Guaranteed 166760AA6
Global, Sr.Notes, 850mm Issue 125581AC2
14911QFA4
Global, Guaranteed 20825CAD6
375766AK8
90782EGV0
144A, 500mm Issue 87244HAB1
Global, Sr.Notes, 1bln Issued 060505AW4
Sr.Notes 151313AQ6
Global, 1.4bln Issued 22541LAF0
Global, 2bln Issued 233835AU1
Global, 244217BJ3
Global, 1.5bln Issued 36962GZZ0
Global, 2bln Issued 38141GCS1
Global, 1.25bln Issued 441812KC7
58013MDE1
Bank Note, Global, 1bln Issued 06423EPM1
Global, 1.5bln Issued 524908FD7
Global, 1bln Issued 073902CA4
Global, 3bln Issued 172967BS9
210518AP1
209111CX9
Global, Sr.Notes, 1bln Issued 46625HAV2
637432CA1
500mm Issue 339030AG3
524909AY4
Bank Note, Subs, 500mm Issue 06422KAA0
693320AE3
Guaranteed 592907AB5
Global, 87612EAL0
Domestic,800mm Issue 78442FAN8
500mm Issue 73318EAJ2

Page 8
Global, 1.5bln Issued 617446HW2
Global, 1.1bln Issued 949746EX5
Domestic,850mm Issue 59018YQU8
144A, 224050AR5
Global, 2bln Issued 36962GB78
Global, Sr.Notes, 500mm Issue 46625HAW0
744567FA1
Global, 500mm Issue 125581AE8
61166WAB7
Global, 1.75bln Issued 441812FY5
362337AM9
976657AD8
264399DL7
845743BF9
184502AQ5
20029PAM1
Global, Sr.Notes 931142BE2
69351UAB9
69361LAC5
Global, 5bln Issued 345397SM6
539830AL3
872649AP3
637432CJ2
Global, 1.25bln Issued 61744AAN0
925524AJ9
Global, Subs, 4.25bln Issued 172967AZ4
777774AE0
852060AJ1
Global, 3bln Issued 345397TS2
665228BU5
14149YAF5
Global, 500mm Issue 428040BQ1
913017BD0
Global, 2bln Issued 370425RU6
224044BD8
00184AAB1
209615BV4
17453BAB7
373298BV9
341098BZ1
Global, 5.5bln Issued 370425RX0
803111AK9
Global, Guaranteed 25179SAC4
Global, 902494AM5
079860AB8
Global, 2bln Issued 441812JW5
Global, 3.5bln Issued 345397TY9
Global, 50075NAB0
695114BU1
Sr.Notes 88033GAT7
Global, 2.75bln Issued 22541LAC7
Global, Guaranteed, 1.5bln Issued
233835AT4
Global, 1bln Issued 370425SC5
Global, 097014AG9
78387GAH6
Global, 1.5bln Issued 172967BJ9
Global, 87612EAH9
Global, 244217BG9
Global, 532457AU2
Global, 962166BP8

Page 9
Guaranteed 583334AA5
Global, 812404BJ9
Sr.Notes 404119AE9
Global, 1.75bln Issued 441812JY1
Global, 50075NAH7
Sr.Notes 88033GAW0
Yankee, 305915AC4
Global, 3.85bln Issued 36962GYY4
Guaranteed 501044CD1
875127AS1
92344GAQ9
209111DZ3
786514BF5
875127AU6
Global, Subs, 1.5bln Issued 172967BP5
Global, 2bln Issued 370425SE1
74456QAJ5
Global, Sr.Notes, 1bln Issued 060505AR5
Global, 260543BR3
693304AD9
842434CA8
744448BT7
102183AG5
144A, 460146BP7
Global, 1.5bln Issued 441812KA1
Global, 134429AR0
Global, Subs, 1.75bln Issued 46625HAT7
Global, 097014AH7
Global, Sr.Notes, 1bln Issued 060505AX2
Sr.Notes 151313AP8
Global, 2.5bln Issued 36962GZY3
923474AA8
#N/A 045184AA6
Global, 5bln Issued 369604AY9
501044CE9
88033GAY6
Global, 097023AT2
693320AF0
Global, 2.75bln Issued 617446HR3
65473QAK9
744448BV2
144A, 91914CAB3
92345NAA8
075887AS8
291011AT1
Global, 931142BT9
Global, 1bln Issued 060505AU8
882850CM0
92857WAD2
151313AS2
Global, Subs, 500mm Issue 90333WAC2
Subs, 350mm Issue 06423AAV5
Global, Subs, 750mm Issue 46625HAX8
Global, 750mm Issue 172967BW0
197677AD9
Subs, 450mm Issue 638585AU3
655844AE8
035229CS0
72447WAA7
708696BM0

Page 10
852060AG78
68233DAR8
010392EB0
887315AM1
543859AK8
927804CV4
655844AJ7
Yankee, 87425EAE3
300mm Issue 345370BT6
655664AH3
03009MBB1
338915AM3
020039AJ2
775371AU1
023551AF1
742718AV1
260543BJ1
644239AY1
539830AK5
079857AH1
25156PAC7
205887AX0
111021AE1

Global, 5bln Issued 36962GXZ2


Global, 962166BR4
023600XAJ6
25156PAD5
812404BK6
250847DU1
87612EAK2
Guaranteed 583334AB3
Global, Guaranteed 904764AH0
Global, 2bln Issued 38141GCU6
023551AM6
25746UAN9

NY Position 37042WF22
Domestic MTN, 100mm Issue

NY Position 12560PCJ8
Domestic MTN, 140mm Issue

NY Position 81240QMS8

NY Position 12560PCQ2
Global, 160mm Issue

NY Position 81240QMT6

Page 11
NY Position 41011WAU4
Global, 192mm Issue

NY Position 14912LU90
Domestic MTN, 193mm Issue

NY Position 441812FZ2
Global, 195mm Issue
74005PAM6
- -

Page 12