Investment Report

Investment Report September 30, 2007

Tennessee Housing Development Agency 404 James Robertson Parkway, Suite 1114 Nashville, Tennessee 37243-0900

Tennessee Housing Development Agency is committed to principles of equal opportunity, equal access, and affirmative action. Contact the THDA EEO/AA/ADA Coordinator (615/741-1106; 1/800-228-THDA; 615/532-2894, TDD) for further information.

TENNESSEE HOUSING DEVELOPMENT AGENCY QUARTERLY INVESTMENT REPORT TABLE OF CONTENTS Page 3

THDA Investment Policy

Page 11

Overall Portfolio Information – Executive Summary

Page 13

General Fund (The sections for the various funds are organized as follows): A. Description of Fund and Investment Objectives B. Current and Recent Fund Data C. Portfolio Listing (Inventory) (By Resolution) 1. Investments by Issuer 2. Sorted by Investment Type D. Yield Calculations – Current Quarter & Historical E. Quarterly Transactions Listing (By Resolution) 1. Purchases Report – sorted by Source 2. Sales Report – sorted by Source 3. Maturity Report – sorted by Maturity Date

Page 23 Page 33 Page 84 Page 110 Page 118

Loan Funds Float/Equity Funds Debt Service Reserve Funds Escrow Fund Arbitrage

____________________________________________________________________________________

Tennessee Housing Development Agency

_______________

Investment Policy

_______________

Adopted September 14, 1993 As Amended July 20, 1995, and November 16, 1995

____________________________________________________________________________________

CONTENTS I.

Scope

II.

Authority

III.

Objectives

IV.

Prudence

V. VI. VII. VIII. IX. X. XI.

Eligible Investments Monitoring and Adjusting the Portfolio Internal Controls Competitive Selection of Investment Instruments Broker/Dealer Selection and Review Safekeeping Reporting Requirements

XII.

Diversification

XIII.

Risk Tolerance

XIV.

Operating Procedures

XV.

XVI.

XVII.

Bond Related Funds A.

General Fund

B.

Undistributed Bond Proceeds Funds

C.

Servicing Agent Funds

D.

Debt Service Reserve Fund

E.

Escrow Account Funds

F.

Other Funds

Other Agency Funds A.

Assets Fund

B.

Housing Program Fund

C.

Housing Program Reserve Fund

Adoption

I.

SCOPE: It is intended that this policy apply to the investment of all non-mortgage assets of the Tennessee Housing Development Agency (Agency), including those assets pledged to holders of the Agency's bonds.

II.

AUTHORITY: Section 5 of Chapter 900 of the Acts of 1988 (Tennessee Code Annotated, Section 13-23-112) requires the Agency to establish an investment policy for assets of the Agency. The State Treasurer is responsible for investing Agency assets in accordance with the duly adopted investment policy. The State Treasurer, in his sole discretion, may delegate to the Executive Director any portion of investment responsibilities deemed appropriate.

III.

IV.

OBJECTIVES: A.

Safety of principal is the foremost objective, followed by liquidity and yield. Each investment transaction shall seek to first ensure that capital losses are avoided, whether they be from securities defaults or erosion of market value.

B.

Investment decisions should not incur unreasonable investment risks in order to obtain current investment income.

C.

The combined Agency portfolios shall remain sufficiently liquid to enable the Agency to meet all operating requirements.

D.

Agency portfolios shall be designed to attain a market-average rate of return throughout budgetary and economic cycles, taking into account investment risk constraints, the cash flow characteristics of the Agency, and State law that restricts the placement of short-term funds.

E.

Agency portfolios will be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions.

F.

While the Agency will not make investments for the purpose of trading or speculating as the dominant criterion, the Agency shall seek to enhance total portfolio return by means of active portfolio management. The prohibition of speculative investments precludes pursuit of gain or profit through unusual risk. However, trading in response to changes in market value or market direction is warranted under active portfolio management.

G.

All participants in the investment process shall act responsibly as custodians of the public trust. Investment officials shall recognize that the investment portfolio is subject to public review and evaluation. The overall program shall be designed and managed with a degree of professionalism that is worthy of the public trust.

PRUDENCE: The standard of prudence to be used by all officials responsible for the investment of Agency assets shall be the "prudent man rule" which obligates a fiduciary to ensure that: " . . . investment shall be made with the exercise of that degree of judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the management of their own affairs, not for speculation but for investment, considering the probable safety of their capital as well as the probably income to be derived."

V.

ELIGIBLE INVESTMENTS: Eligible investments for Agency assets shall include only investment instruments authorized for state funds pursuant to Tennessee Code Annotated, Section 9-4-602 and investments in the State Pooled Investment Fund established pursuant to Tennessee Code Annotated, Section 9-4-603. To the extent Agency assets are invested in

1

certificates of deposit, such investment shall be accomplished through participation in the State Pooled Investment Fund. To the extent the Agency's eligible investments must be secured, "eligible collateral" acceptable as such security may include any items defined as eligible collateral in Tennessee Code Annotated Section 9-4-103 or repurchase agreements that meet all requirements of Section V.C. The Agency, at its option or as required under its bond resolutions or other agreements with bondholders, may select or further restrict the types of eligible investments or the types of eligible collateral that may be used or may further restrict the levels of valuation of eligible collateral. A.

Investment in U.S. government securities may constitute one hundred percent (100%) of the portfolio due to the absence of credit risk in this market.

B.

Securities shall be purchased through authorized broker/dealers for the security to be acquired. All transactions will be executed on a delivery versus payment basis. Due bills or notes are not acceptable as collateral in lieu of the purchased security.

C.

The following terms and conditions shall apply to investments in repurchase agreements: 1.

The seller and the Agency shall enter into a master repurchase agreement in a form approved by the State Treasurer, and the Attorney General and Reporter.

2.

Securities purchased under the repurchase agreement shall be limited to obligations of the United States Government or its agencies.

3.

At the time of purchase, the market value of the securities shall be equal to or greater than one hundred two percent (102%) of the cash investment.

4.

Securities shall be marked-to-market daily and shall be maintained at a value equal to or greater than the original cash investment amount, including accrued interest on such amount.

5.

The seller and the Agency may enter into an agreement with an independent custodian bank ("Custodian") in a form approved by the State Treasurer, and the Attorney General and Reporter pursuant to which the Custodian will provide transfer and safekeeping services for all securities and/or cash in connection with all repurchase transactions governed by the master repurchase agreement. For purposes of this provision, "independent custodian bank" means a bank which is not related to the seller nor the Agency through shared ownership or control.

6.

All securities purchased under a repurchase agreement shall be held in an account of the Agency under the control of either the Trustee or the State Treasurer, unless the seller and the Agency have entered into a custodial agreement pursuant to Paragraph 5 above. In such event, the securities shall be held in an account of the Agency with the Custodian.

7.

The seller may, at any time, substitute other securities or equal or greater market value for any purchased securities provided such other securities are obligations of the United States Government or its agencies.

8.

Repurchase agreements may be entered into only with sellers approved for use by Treasury Department portfolio managers, unless an exception is granted by the Bond Finance Committee.

2

9.

The maturity date of the securities purchased under a repurchase agreement shall exceed the term of the repurchase agreement. All securities purchased by the Agency shall be delivered simultaneously against payment to either the State Treasurer, or to an account of the Agency at the Trustee or the Custodian or, in the case of definitive securities, as provided in the master repurchase agreement.

10.

The transactions under each individual repurchase agreement shall be confirmed by the seller to the Agency. Each confirmation shall clearly describe the purchased securities (including the CUSIP number, if any), identify the Agency and the seller, and set forth (a) the purchase date, (b) the purchase price, (c) the repurchase date, unless the transaction is to be terminable on demand, and (d) the pricing rate or repurchase price applicable to the transaction. Upon receipt, the confirmation shall be reviewed to insure that the terms contained therein correspond exactly to the terms negotiated by the parties. Any discrepancies appearing on the confirmation shall be conclusive grounds for terminating the repurchase agreement or renegotiating its terms, as may be appropriate. Upon a renegotiation of terms, a corrected confirmation shall be requested. (Section V.C. amended by Board Resolution on July 20, 1995.)

D.

Special conditions for collateralized guaranteed investment contracts: The Agency may invest its assets in guaranteed investment contracts of longer than one (1) year with a select few of the highest quality foreign and domestic banks, domestic brokerage firms, or domestic insurance companies, as selected by the Agency upon the advice of its financial adviser. Such guaranteed investment contracts shall be secured by a perfected, first priority security interest in eligible collateral, as defined in Section V. The provider of the guaranteed investment contract and the Agency shall enter into a master guaranteed investment agreement, in a form approved by the State Treasurer, and/or other contracts or agreements as approved by the State Treasurer and the Attorney General and Reporter. Eligible collateral shall have an initial market value of at least 102% of the principal amount of the cash investment. If the aggregate market value of the eligible collateral is less than 100% of the cash investment, then additional eligible collateral sufficient to bring the aggregate market value of all eligible collateral to at least 102% of the cash investment shall be required. (Section V.D. added by Board Resolution on November 16, 1995.)

VI.

MONITORING AND ADJUSTING THE PORTFOLIO: On a routine basis, the contents of the portfolio, the available markets and the relative values of completing instruments will be monitored and the portfolio adjusted accordingly.

VII.

INTERNAL CONTROLS: The Agency shall establish a system of internal controls which shall be documented in writing. The controls shall be designed to prevent losses of funds arising from fraud, employee error, misrepresentation by third parties, unanticipated changes in financial markets, or imprudent actions by employees and officers of the Agency. Controls deemed most important include: control of collusion, separation of duties, separating transaction authority from accounting and record keeping, custodial safekeeping, clear delegation of authority, written confirmation of telephone transactions, minimizing the number of authorized investment officials, documentation of transaction strategies, and code of ethics.

3

The Executive Director shall provide to the State Treasurer a copy of the report of internal controls submitted to the Comptroller of the Treasury in accordance with the Financial Integrity Act. VIII.

COMPETITIVE SELECTION OF INVESTMENT INSTRUMENTS: Before investment of any Agency funds, a competitive "bid" process shall be conducted. If a specific maturity date is required, either for cash flow purposes or for conformance to maturity guidelines, bids will be requested for instruments which meet the maturity requirement. If no specific maturity is required, a market trend (yield curve) analysis will be conducted to determine which maturities would be most advantageous. Bids will be requested for various options with regards to eligible investment instruments. The bid which provides the highest rate of return within the maturity required and within the parameters of these policies will be accepted. Records will be kept of the bids offered, the bids accepted and a brief explanation of the decision which was made regarding the investment. Exceptions to the competitive placement of Agency investments are permissible as market conditions warrant and will be documented in the Agency's files.

IX.

BROKER/DEALER SELECTION AND REVIEW: Repurchase agreements will only be transacted with primary government securities dealers that report to the New York Federal Reserve Bank and who complete the Agency's master repurchase agreement. The Agency shall periodically review the list of primary dealers from the New York Federal Reserve Bank to determine which dealers have been added or deleted. For purchase of securities on a delivery versus payment basis, any broker/dealer that gives priority to institutional trading over regular retail trading customers and exemplifies satisfactory performance in bidding and settlement of transactions will be authorized to bid on security acquisitions. An authorization letter (sample attached) will be sent to each authorized dealer. If a dealer is consistently unsuccessful in bidding and/or unsatisfactorily fulfills bids they have received, they will be removed from the approved list of dealers for six months. The list of approved broker/dealers shall be reviewed and updated periodically.

X.

XI:

SAFEKEEPING: All Agency investment securities shall be held by the Trustee or the State Treasurer. The party holding such securities shall issue a safekeeping receipt listing the specific instrument, rate, maturity and other pertinent information. REPORTING Periodic: The Executive Director of the Tennessee Housing Development Agency shall submit a quarterly investment report to the Bond Finance Committee. This report will describe the portfolio activity during the period and compute the average yield and average maturity of the portfolio and list the acquisitions and dispositions during the quarter. The report shall summarize the investment strategies employed in the most recent period, describe the investment portfolios in terms of investment securities, maturities, yield and average maturity of the combined portfolios. A report will be presented of the pro rata debt service requirements by month for the next 12 months chronologized by debt service payment dates. Each report shall indicate any areas of policy concern and suggested or planned revision of investment strategies. Annual: Within 90 days of the end of the fiscal year, the Executive Director of the Tennessee Housing Development Agency shall present a comprehensive annual report on the investment program and investment activity to the Bond Finance Committee. This report shall include twelve-month comparisons or return, shall suggest policies and improvements that might enhance the investment program, and include an investment plan for the ensuing fiscal year.

XII.

DIVERSIFICATION: The Tennessee Housing Development Agency should diversify investment portfolios in order to reduce the risk of loss resulting from over concentration of

4

assets in a specific maturity, a specific issuer, or a specific class of securities. The following strategies and constraints shall apply: A.

Portfolio maturities shall be staggered in a way that avoids undue concentrations of assets in a specific maturity sector. Maturities shall be selected which provide for stability of income and reasonable liquidity.

B.

It is the intent of this policy that sufficient investments be scheduled to mature to provide for the required liquidity for debt service and other expenditures per resolution requirements. A minimum of the pro rata cumulative debt service requirement at the end of each month for the then current bond year for each bond resolution must mature to meet the debt service payment dates. A schedule showing the cumulative debt service requirement by month shall be kept on file at the Agency.

In addition a minimum of five percent (5.00%) of the par value of total investments must mature within five years. No more than fifty percent (50.00%) of the par value of the combined portfolios can be invested in maturities of greater than fifteen (15) years without the approval of the Bond Finance Committee. XIII.

RISK TOLERANCE: Investment risks can result from issuer defaults, market price changes, or various technical complications leading to temporary illiquidity. Portfolio diversification is employed as a way to control risk. Investment managers are expected to display prudence in the selection of securities, as a way to minimize default risk.

XIV.

OPERATING PROCEDURES: Written operating procedures to implement the provisions of the Agency investment policy shall be established. These procedures shall be subject to the review and approval of the State Treasurer.

XV.

BOND RELATED FUNDS: Funds held by the Agency under the 1974, 1981 and 1985 Resolutions shall be subject to the applicable Resolution requirement. Since the fund and account structure arises by Resolution, each type of receipt will be discussed rather than each fund and account. A.

General Fund: This fund is the recipient of excess funds transferred from the 1974 Resolution Revenue Fund. These funds represent the amount remaining after setting aside the pro rata debt service requirement on each interest and principal payment date. Conversely, any deficit in the Revenue Fund needed to meet debt service is funded from the General Fund. Short term liquidity should be maintained in order to meet any monthly deficit that might occur in the Revenue Fund. Funds which are awaiting investment shall be invested in an interest-bearing account.

B.

Undistributed Bond Proceeds Fund: These funds represent the proceeds from the sale of bonds, prior to being disbursed for the purpose of making mortgage loans, paying cost of issuance and capitalized interest. These funds shall be invested in eligible investments with maturities scheduled to assure that funds are available to fund loans. Funds which are awaiting investment or disbursement shall be invested in an interest-bearing account.

C.

Servicing Agent Funds: These funds represent amounts remitted to servicing agents for payment of principal and interest on Agency mortgage loans. These funds are accumulated by the mortgage servicers and periodically remitted to the Trustee for deposit into the appropriate fund. Servicing agent funds, when remitted to the Trustee, shall be deposited in interest-bearing accounts with interest accruing to the Agency. These accounts shall be fully insured and/or collateralized to the benefit of the Agency. The Agency shall monitor such accounts and, when warranted, funds

5

will be invested in securities with maturities dictated by the debt service requirements.

XVI.

XVII.

D.

Debt Service Reserve Funds: These funds represent one (1) year of principal and interest payments on each Agency bond issue. Debt Service Reserve funds shall be invested in eligible investments with maturities as established by the Bond Finance Committee in consultation with the Agency's investment advisor/underwriter. All 1974 and 1981 Resolution Debt Service Reserve funds shall be invested by the Trustee. All 1985 Resolution Debt Service Reserve Funds shall be invested by the State Treasurer or the Trustee. Funds which are awaiting investment or disbursement shall be invested in an interest-bearing account.

E.

Escrow Account Funds: These funds represent funds held in trust by the Agency for the purpose of paying taxes, insurance and other obligations for the mortgagors of multi-family projects financed under the 1974 Resolution. The funds are short to intermediate term in nature and are to be invested with a maturity schedule which ensures sufficient liquidity to honor the obligations of the Escrow Account Fund. Funds which are awaiting investment or disbursement shall be invested in an interest-bearing account.

F.

Other Funds: These funds include all non-mortgage investment income (interest on non-mortgage investments, fees, penalties, etc.). These funds shall be deposited in accounts as provided in the Resolution fund structure.

OTHER AGENCY FUNDS: Funds held by the Agency which are not being held under a specific bond resolution shall be subject to the following investment limitations and conditions. A.

Assets Fund: These funds represent excess amounts which have been withdrawn from individual bond resolutions in accordance with the terms of the applicable resolution. In addition, at the direction of the Board, portions of the Assets Fund may be invested for the program purposes of the Agency. These funds provide for monthly interest income transfers to the Housing Program Fund.

B.

Housing Program Fund: These funds represents the operating reserves of the Agency which are used to fund Agency administrative costs, pay certain expenses of bond issues, make grants to eligible political subdivisions and not-for-profit corporations and support the growth of the Housing Program Reserve Fund.

C.

Housing Program Reserve Fund: This fund consists of excess funds transferred from the Assets Fund and the Housing Program Fund. Income from investments in this fund are transferred to the Housing Program Fund at least annually. In addition, at the direction of the Board, portions of the Housing Program Reserve Fund may be invested for the program purposes of the Agency.

ADOPTION This investment policy was adopted by the Tennessee Housing Development Agency Board of Directors on September 14, 1993.

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EXECUTIVE SUMMARY THDA Finance Team: Trent Ridley, CFO Wayne Beard, Finance Director Joe Brown, Controller November 20, 2007 *Important Transactions during the past Quarter: 1) Bond Issue 2007-3 was closed on August 7, 2007. This transaction resulted in $153,968,215 of single family mortgage proceeds. UBS was the lead underwriter. The transaction resulted in maximum mortgage rates of 5.67% 6.17% and 6.67%, a twenty-two basis point increase from the previous bond issue. 2) Mortgage production increased during the quarter, with $187 million in applications. This was a 4% increase from the previous quarter ($180 million), and a 75% increase from the third quarter of 2006 ($106 million). August 2007 ($71.5 million) surpassed June 2007 ($68.4 million) as the highest mortgage production month in THDA history. THDA increased mortgage rates in September to 6.0%, 6.5% and 7.0%. Even after the rate increase, production for September remained strong with $50.4 million in applications. The continued strong production numbers can be attributed to tighter credit standards in the mortgage industry and the continued efforts by the THDA business development staff. 3) Due to the continuing strong production, the bond finance committee met on September 19, 2007, and recommended to the board of directors for consideration and approval at their September 20, 2007 meeting, the issuance of Bond Issue 2007-4 in an amount not to exceed $150,000,000. 4) During the past quarter, $32.2 million in mortgage prepayments was received by the agency. This was a 13.8% decrease from last quarter ($37.3 million), and a 23.4% decrease from the third quarter of 2006 ($42.0 million). These decreases can be attributed to higher interest rates and tighter credit standards. These factors make it more difficult for borrowers to refinance or sell their homes. Although mortgage prepayments have decreased, they still result in significant cash flow to be reinvested until time to call bonds. 5) The Federal Reserve lowered rates this quarter. However, they surprised many people by cutting the overnight rate by 50 basis points to 4.75% on September 18. Their primary concern was the fallout from problems in the mortgage industry.

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

PORTFOLIO MGT SUMMARY Portfolio Management Portfolio Summary September 30, 2007

Par Value

Investments Federal Agency Coupon Securities

Market Value

Book Value

% of Portfolio

Term

Days to Mat./Call

YTM/C 360 Equiv.

255,186,000.00

259,984,743.86

256,011,253.59

61.73

3,465

1,695

5.269

Treasury Coupon Securities

83,897,000.00

102,324,355.04

83,690,090.80

20.18

7,197

2,972

8.625

Repurchase Agreements

75,000,000.00

75,000,000.00

75,000,000.00

18.09

18

13

4.850

414,083,000.00

437,309,098.90

414,701,344.39

3,594

1,649

5.870

Cash and Accrued Interest Accrued Interest at Purchase * Ending Accrued Interest

0.00 4,491,357.72

0.00 4,491,357.72

Subtotal

4,491,357.72

4,491,357.72

441,800,456.62

419,192,702.11

3,594

1,649

5.870

100.00%

Investments

414,083,000.00 Total Cash and Investments Value Total Earnings

September 30 Month Ending

Fiscal Year To Date

1,689,392.30

5,881,944.13

447,957,705.15

433,069,107.09

Current Year

Average Daily Balance Effective Rate of Return

4.59%

__________________________________________________ Mack W. Beard, Director of Finance

Reporting period 09/01/2007-09/30/2007 Data Updated: SET_PM1: 11/01/2007 12:48 Run Date: 11/01/2007 - 12:48

* 859,521.37 Accrued at Purchase is Included in Book Value.

5.39%

____________________

Portfolio TH08 AC PM (PRF_PM1) SymRept 6.41.202b Report Ver. 5.00

GENERAL FUND DESCRIPTION The General Fund was established under the 1974 Resolution and was funded from earnings above and beyond the debt cost of THDA Bond Issues that were done early in the existence of the agency (see discussion of float/equity funds under tab #5 in this report). On December 31, 1998 mortgages from bond issue 1994-1 in the 1985 Resolution were transferred to the General Fund in the 1974 Resolution after the bonds from that issue were completely paid off. Prepayments and repayments from those mortgages are deposited into the General Fund. The assets in the General Fund can be used for a variety of purposes. Some uses of the General Fund Assets have been: 1) Provide funding for special mortgage loan programs 2) Pre-fund mortgage loans pending the closing of a bond issue 3) Pay certain expenses connected to debt issuance and financial analysis 4) Grants – THDA’s board approved an agency funded grant program in FY 2000. 5) Beginning in July, 2003 some funds were used to call higher coupon debt from other bond issues in the 1974 resolution.

THDA QUARTERLY INVESTMENT REPORT GENERAL FUND September 30, 2007 Historical Fund Balances

6/30/05 6/30/06 6/30/07 9/30/07 Historical Returns (Yield) 1974 Resolution 1985 Resolution

1974 Resolution

1985 Resolution

Amortized Cost 27,798,565.77 30,037,156.60 31,246,873.96 32,725,963.72

Market Value 27,697,398.60 28,821,453.06 30,350,596.47 32,405,145.66

Quarter ending 9/30/2007 4.886% N/A

Current Fiscal Year 4.886% N/A

Last 12 Months 4.796% N/A

4.523% 4.407% 4.503%

4.523% 4.407% 4.503%

4.863% 4.625% 4.672%

Benchmarks: (1) One-year CMT (2) Three-year CMT (3) Five-year CMT Duration Average Duration to Maturity (Years) Average Duration to Call (Years)

Money Market Funds Federal Agency Coupons Variable Rate Securities Repurchase Agreements Discount Bonds Total

Market Value N/A N/A N/A N/A Last 24 Months 4.767% N/A 4.810% 4.665% 4.685%

1974 Resolution 1985 Resolution

4.9 4.2 1974 Resolution

Asset Allocation

Amortized Cost N/A N/A N/A N/A

Dollar value* 2,107,374.78 26,617,588.94 0.00 4,000,000.00 0.00 32,724,963.72

Percentage 6.44% 81.34% 0.00% 12.22% 0.00% 100.00%

N/A N/A 1985 Resolution

Dollar value* N/A N/A N/A N/A N/A N/A

*Dollar values are stated as book (amortized cost) value.

Percentage N/A N/A N/A N/A N/A N/A

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

GENERAL FUND (6076005447) Investments by Issuer Active Investments Sorted by Maturity Date September 30, 2007 CUSIP

Investment #

Security Type

Investmen t

Book Value

Current Rate

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

Call Date Collateral

Federal Farm Credit Bank 31331QZ59

14634

Federal Agency Coupon Securities

Fair

990,681.75

4.440

985,000.00 09/28/2007

4.680

07/10/2012

1,744

31331QZ67

14179

Federal Agency Coupon Securities

Fair

1,000,000.00

4.900

979,375.00 09/28/2007

4.900

07/08/2015

2,837

31331QZ67

14635

Federal Agency Coupon Securities

Fair

990,130.56

4.900

979,375.00 09/28/2007

5.070

07/08/2015

2,837

Subtotal and Average

2,980,812.31

2,943,750.00

4.883

2,473

Federal Home Loan Bank 3133X8CK6

15628

Federal Agency Coupon Securities

Fair

499,620.48

31339YQ47

14732

Federal Agency Coupon Securities

Fair

303,177.50

4.100

491,449.97 09/28/2007

5.067

08/24/2009

693

296,531.25 09/28/2007

4.099

07/30/2010

1,033

31339YQ47

14734

Federal Agency Coupon Securities

Fair

200,000.00

31339YFA5

14658

Federal Agency Coupon Securities

Fair

1,986,475.18

4.100

197,687.50 09/28/2007

4.099

07/30/2010

1,033

4.200

1,961,875.00 09/28/2007

4.567

01/23/2012

31339YQA3

15213

Federal Agency Coupon Securities

Fair

1,575

3,000,000.00

5.000

2,977,500.00 09/28/2007

4.999

08/06/2013

3133X5QY7

16024

Federal Agency Coupon Securities

2,136

Fair

325,000.00

3.150

295,546.88 09/28/2007

3.150

03/28/2014

3133XKB46

18100

Federal Agency Coupon Securities

2,370

Fair

537,717.13

5.500

532,406.25 09/28/2007

5.547

03/29/2022

5,293

Subtotal and Average

6,851,990.29

6,752,996.85

4.768

11/24/2007

2,045

Federal Home Loan Mortgage Cor 3133F1CV7

15342

Federal Agency Coupon Securities

Fair

199,653.70

4.000

196,672.79 09/28/2007

4.057

03/15/2011

1,261

3128X1PT8

14731

Federal Agency Coupon Securities

Fair

1,013,375.00

4.500

979,367.07 09/28/2007

4.499

07/16/2013

2,115

3128X1SS7

14298

Federal Agency Coupon Securities

Fair

4,000,000.00

4.800

3,956,563.72 09/28/2007

4.800

07/30/2013

2,129

3128X2V44

15173

Federal Agency Coupon Securities

Fair

1,997,562.50

5.000

1,981,329.96 09/28/2007

5.024

04/01/2014

2,374

3128X0KT5

17621

Federal Agency Coupon Securities

Fair

293,353.37

5.200

297,152.71 09/28/2007

5.549

11/25/2015

2,977

3128X1SM0

14657

Federal Agency Coupon Securities

Fair

1,000,655.54

4.750

990,632.94 09/28/2007

4.726

07/30/2018

3,955

10/30/2007

3128X1SM0

14733

Federal Agency Coupon Securities

Fair

997,254.90

4.750

990,632.94 09/28/2007

4.847

07/30/2018

3,955

10/30/2007

3128X2VE2

15271

Federal Agency Coupon Securities

Fair

299,311.27

5.000

299,759.72 09/28/2007

5.028

02/25/2019

4,165

3128X2VE2

16025

Federal Agency Coupon Securities

Fair

500,000.00

5.000

499,599.53 09/28/2007

5.000

02/25/2019

4,165

3128X2X67

15174

Federal Agency Coupon Securities

Fair

130,000.00

5.500

128,564.68 09/28/2007

5.500

04/08/2019

4,207

3128X6GB6

18566

Federal Agency Coupon Securities

Fair

434,788.74

6.500

439,338.86 09/28/2007

7.066

07/25/2022

5,411

07/25/2008

3128X6KK1

18623

Federal Agency Coupon Securities

Fair

398,759.03

6.400

402,521.61 09/28/2007

6.728

08/22/2022

5,439

08/22/2008

Subtotal and Average

11,264,714.05

11,162,136.53

4.995

2,914

Federal National Mortgage Admi 3136F5GL9

15400

Federal Agency Coupon Securities

Fair

300,047.62

4.150

297,937.50 09/28/2007

4.140

09/18/2009

718

3136F5GL9

15429

Federal Agency Coupon Securities

Fair

250,019.88

4.150

248,281.25 09/28/2007

4.144

09/18/2009

718

Data Updated: FUNDSNAP: 11/01/2007 13:01 Run Date: 11/01/2007 - 13:01

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

GENERAL FUND (6076005447) Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

3136F3BN5

14648

Federal Agency Coupon Securities

3136F3BN5

14649

Federal Agency Coupon Securities

3136F3BN5

14713

31359M7G2 3136F3DM5

Page 2 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

500,315.76

5.000

496,562.50 09/28/2007

4.985

03/11/2013

1,988

Fair

1,000,631.52

5.000

993,125.00 09/28/2007

4.985

03/11/2013

1,988

Federal Agency Coupon Securities

Fair

430,004.17

5.000

427,043.75 09/28/2007

4.999

03/11/2013

1,988

18582

Federal Agency Coupon Securities

Fair

2,039,053.34

6.000

2,000,625.00 09/28/2007

6.033

04/12/2017

3,481

15247

Federal Agency Coupon Securities

Fair

1,000,000.00

5.125

975,312.50 09/28/2007

5.125

04/09/2018

3,843

Subtotal and Average

5,520,072.29

Market Value

Market Date

5,438,887.50

5.315

Call Date Collateral

2,748

Morgan Stanley Dean Witter 2007-09-25MS

18709

Repurchase Agreements

Fair

Subtotal and Average Total and Average

Data Updated: FUNDSNAP: 11/01/2007 13:01 Run Date: 11/01/2007 - 13:01

4,000,000.00 4,000,000.00 30,617,588.94

4.900

4,000,000.00 09/28/2007

4.968

4,000,000.00

4.968

10/05/2007

4

4

30,297,770.88

4.988

2,266

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

General Fund (Summary Reports) Investments by All Types Active Investments September 30, 2007 CUSIP

Investment #

Fund

Issuer

Par Value

Purchase Price

Book Value

Current Rate

Maturity Date

Call Date

Call Price

Federal Agency Coupon Securities Subtotal

26,611,000.00

26,617,588.94

Subtotal

4,000,000.00

4,000,000.00

Total

30,611,000.00

Repurchase Agreements

Data Updated: SET_GFSM: 11/01/2007 13:05 Run Date: 11/01/2007 - 13:05

30,617,588.94

Portfolio TH08 AC AT (PRF_DT) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

General Fund (Summary Reports) Interest Earnings Sorted by Fund - Fund July 1, 2007 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: GENERAL FUND (6076005447)

Data Updated: SET_GFSM: 11/01/2007 13:05 Run Date: 11/01/2007 - 13:05

Subtotal

46,811,000.00

29,793,165.32

28,698,261.04

4.886

349,427.80

3,982.01

353,409.81

Total

46,811,000.00

29,793,165.32

28,698,261.04

4.886

349,427.80

3,982.01

353,409.81

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

General Fund (Summary Reports) Interest Earnings Sorted by Fund - Fund October 1, 2006 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: GENERAL FUND (6076005447)

Data Updated: SET_GFSM: 11/01/2007 13:10 Run Date: 11/01/2007 - 13:10

Subtotal

47,011,000.00

23,251,827.54

25,393,831.20

4.796

1,201,247.73

16,605.62

1,217,853.35

Total

47,011,000.00

23,251,827.54

25,393,831.20

4.796

1,201,247.73

16,605.62

1,217,853.35

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

General Fund (Summary Reports) Interest Earnings Sorted by Fund - Fund October 1, 2005 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: GENERAL FUND (6076005447)

Data Updated: SET_GFSM: 11/01/2007 13:13 Run Date: 11/01/2007 - 13:13

Subtotal

47,011,000.00

22,993,915.40

24,187,576.76

4.767

2,279,428.08

26,611.13

2,306,039.21

Total

47,011,000.00

22,993,915.40

24,187,576.76

4.767

2,279,428.08

26,611.13

2,306,039.21

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

GENERAL FUND (6076005447) Purchases Report Sorted by Source - Purchase Date July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Sec. Type Issuer

OP0008 OP0008 OP0008 OP0008 OP0008 OP0008 OP0008 OP0008

MC3 FAC FAC FAC MC3 MC3 MC3 MC3

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

3,000,000.00 436,000.00 400,000.00 2,000,000.00 3,000,000.00 3,000,000.00 1,200,000.00 4,000,000.00

07/10/2007 07/18 - At Maturity 07/25/2007 01/25 - 07/25 08/22/2007 02/22 - 08/22 08/24/2007 10/12 - 04/12 08/29/2007 09/06 - At Maturity 09/07/2007 09/21 - At Maturity 09/14/2007 09/28 - At Maturity 09/25/2007 10/05 - At Maturity

3,000,000.00 434,773.75 398,750.00 1,995,000.00 3,000,000.00 3,000,000.00 1,200,000.00 4,000,000.00

5.230 6.500 6.400 6.000 5.250 5.130 4.960 4.900

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Purchased from: External Transaction 2007-07-10MS 3128X6GB6 3128X6KK1 31359M7G2 2007-08-29BOA 2007-09-07UBS 2007-09-14UBS 2007-09-25MS

18519 18566 18623 18582 18635 18660 18667 18709

Data Updated: FUNDSNAP: 11/01/2007 13:01 Run Date: 11/01/2007 - 13:01

MSDW FHLMC FHLMC FNMA BA PW PW MSDW

44,000.00

07/18/2007 07/25/2008 08/22/2008 04/12/2017 09/06/2007 09/21/2007 09/28/2007 10/05/2007

5.303 7.066 6.728 6.033 5.323 5.201 5.029 4.968

0.00 434,788.74 398,759.03 2,039,053.34 0.00 0.00 0.00 4,000,000.00

Subtotal

17,036,000.00

17,028,523.75

44,000.00

6,872,601.11

Total Purchases

17,036,000.00

17,028,523.75

44,000.00

6,872,601.11

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

GENERAL FUND (6076005447) Sales/Call Report Sorted by Source - Maturity Date July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

12,500.00

12,500.00

2,657.81

15,157.81 Call

2,657.81

2,005,832.14

2,000,000.00

13,361.11

2,013,361.11 Call

7,528.97

Net Income

Sold By: External Transaction 3133X5QY7

16024

OP0008

FHLB FAC

03/31/2005 09/28/2007 03/28/2014

12,500.00

3128X5FZ6

18243

OP0008

FHLMC FAC

04/30/2007 09/24/2007 08/17/2021

2,000,000.00

3.150 6.500 V

Subtotal

2,012,500.00

2,018,332.14

2,012,500.00

16,018.92

2,028,518.92

10,186.78

Total Sales

2,012,500.00

2,018,332.14

2,012,500.00

16,018.92

2,028,518.92

10,186.78

V - Security with variable rate change.

Data Updated: FUNDSNAP: 11/01/2007 13:01 Run Date: 11/01/2007 - 13:01

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

LOAN FUNDS DESCRIPTION Proceeds from a new bond sale that are earmarked for funding mortgage loans are deposited into the Loan Fund. THDA invests these proceeds from the day of closing (the first day the funds are received) until the funds are needed for mortgage loans. Consideration must be given to the maintenance of liquidity so those funds are available as mortgage loans are funded. A major challenge for THDA in managing the investments in the loan fund is minimizing “negative arbitrage”. This results because the rates that can be earned with a short-term investment instrument are usually less than the cost of the new long-term debt from which the proceeds derived. Occasionally an amount is set aside from bond proceeds to cover this shortfall. This amount is called “capitalized interest”. Another method that is sometimes used to minimize or eliminate negative arbitrage is the purchasing of longer-term investments with higher rates in the loan fund. The intent would be to sell such investments when cash is needed either on the open market, or if advantageous, to other THDA funds that are expected to have a foreseeable need for such investments.

THDA QUARTERLY INVESTMENT REPORT LOAN FUNDS September 30, 2007 1974 Resolution

Historical Fund Balances

6/30/05 6/30/06 6/30/07 9/30/07 Historical Returns (Yield) 1974 Resolution 1985 Resolution

1985 Resolution

Amortized Cost 6,156.62 6,156.62 816,971.66 1,000,577.03

Market Value 6,156.62 6,156.62 816,971.66 1,000,577.03

Quarter ending 9/30/2007 n/a 5.260%

Current Fiscal Year n/a 5.260%

4.523% 4.407% 4.503%

4.523% 4.407% 4.503%

Benchmarks: (1) One-year CMT (2) Three-year CMT (3) Five-year CMT Duration Average Duration to Maturity (Years) Average Duration to Call (Years)

Money Market Funds Federal Agency Coupons Variable Rate Securities Repurchase Agreements Discount Bonds Total

Last 12 Months

Market Value 12,371,764.20 32,902,811.08 61,860,754.81 37,074,436.48 Last 24 Months

n/a 5.270%

n/a 5.270%

4.863% 4.625% 4.672%

4.810% 4.665% 4.685%

1974 Resolution 1985 Resolution

0.0 0.0 1974 Resolution

Asset Allocation

Amortized Cost 12,366,863.35 33,010,008.99 61,951,813.85 37,074,436.48

Dollar value* 1,000,577.03 1,000,577.03

Percentage 100.00% 0.00% 0.00% 0.00% 0.00% 100.00%

0.0 0.0 1985 Resolution

Dollar value* 15,074,436.48 22,000,000.00 37,074,436.48

*Dollar values are stated as book (amortized cost) value.

Percentage 40.66% 0.00% 0.00% 59.34% 0.00% 100.00%

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

85 Res Loan Funds (Merged) Investments by Issuer Active Investments Sorted by Maturity Date September 30, 2007 CUSIP

Investment #

Security Type

Investmen t

Book Value

Current Rate

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

Call Date Collateral

Morgan Stanley Dean Witter 2007-09-25MS

18726

Repurchase Agreements

Fair

2,000,000.00

4.900

2,000,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18727

Repurchase Agreements

Fair

20,000,000.00

4.900

20,000,000.00 09/28/2007

4.968

10/05/2007

4

22,000,000.00

4.968

4

22,000,000.00

4.968

4

Subtotal and Average Total and Average

Data Updated: SET_85LF: 11/01/2007 15:07 Run Date: 11/01/2007 - 15:07

22,000,000.00 22,000,000.00

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Res Loan Fund Summaries Investments by All Types Active Investments September 30, 2007 CUSIP

Investment #

Fund

Issuer

Par Value

Purchase Price

Book Value

Current Rate

Maturity Date

Call Date

Call Price

Repurchase Agreements

Data Updated: SET_85LS: 11/01/2007 15:24 Run Date: 11/01/2007 - 15:24

Subtotal

22,000,000.00

Total

22,000,000.00

22,000,000.00 22,000,000.00

Portfolio TH08 AC AT (PRF_DT) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Res Loan Fund Summaries Interest Earnings Sorted by Fund - Fund July 1, 2007 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2007-1 LF (111459000) Subtotal

3,000,000.00

1,000,000.00

184,782.61

5.303

2,470.00

0.00

2,470.00

Subtotal

64,047,000.00

43,406,191.54

9,451,580.24

5.266

103,580.41

21,861.44

125,441.85

Subtotal

196,000,000.00

0.00

34,562,529.60

5.259

449,373.33

8,754.31

458,127.64

Total

263,047,000.00

44,406,191.54

44,198,892.45

5.260

555,423.74

30,615.75

586,039.49

Fund: 2007-2 LF (111459100)

Fund: 2007-3 LF (111459200)

Data Updated: SET_85LS: 11/01/2007 15:24 Run Date: 11/01/2007 - 15:24

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Res Loan Fund Summaries Interest Earnings Sorted by Fund - Fund October 1, 2006 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2007-1 LF (111459000) Subtotal

3,000,000.00

0.00

63,013.70

5.306

3,343.33

0.00

3,343.33

Subtotal

64,047,000.00

0.00

4,195,827.67

5.292

189,919.13

32,117.49

222,036.62

Subtotal

196,000,000.00

0.00

8,711,651.30

5.259

449,373.33

8,754.31

458,127.64

Total

263,047,000.00

0.00

12,970,492.66

5.270

642,635.79

40,871.80

683,507.59

Fund: 2007-2 LF (111459100)

Fund: 2007-3 LF (111459200)

Data Updated: SET_85LS: 11/01/2007 15:26 Run Date: 11/01/2007 - 15:26

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Res Loan Fund Summaries Interest Earnings Sorted by Fund - Fund October 1, 2005 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2007-1 LF (111459000) Subtotal

3,000,000.00

0.00

31,506.85

5.306

3,343.33

0.00

3,343.33

Subtotal

64,047,000.00

0.00

2,097,913.83

5.292

189,919.13

32,117.49

222,036.62

Subtotal

196,000,000.00

0.00

4,355,825.65

5.259

449,373.33

8,754.31

458,127.64

Total

263,047,000.00

0.00

6,485,246.33

5.270

642,635.79

40,871.80

683,507.59

Fund: 2007-2 LF (111459100)

Fund: 2007-3 LF (111459200)

Data Updated: SET_85LS: 11/01/2007 15:26 Run Date: 11/01/2007 - 15:26

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

85 Res Loan Funds (Merged) Purchases Report Sorted by Source - Purchase Date July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Sec. Type Issuer

850711 850721 850731 850731 850731 850731 850731 850731 850731 850731 850721 850731

MC3 MC3 MC3 MC3 FAC MC3 FAC MC3 MC3 MC3 MC3 MC3

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

2,000,000.00 20,000,000.00 50,000,000.00 25,000,000.00 5,000,000.00 30,000,000.00 5,000,000.00 35,000,000.00 25,000,000.00 1,000,000.00 2,000,000.00 20,000,000.00

07/10/2007 07/18 - At Maturity 07/10/2007 07/18 - At Maturity 08/07/2007 08/29 - At Maturity 08/07/2007 08/15 - At Maturity 08/08/2007 09/17 - Final Pmt. 08/15/2007 09/10 - At Maturity 08/20/2007 09/15 - Final Pmt. 08/29/2007 09/06 - At Maturity 09/07/2007 09/21 - At Maturity 09/14/2007 09/28 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity

2,000,000.00 20,000,000.00 50,000,000.00 25,000,000.00 4,998,099.74 30,000,000.00 4,993,145.95 35,000,000.00 25,000,000.00 1,000,000.00 2,000,000.00 20,000,000.00

5.230 5.230 5.220 5.220 5.000 5.200 3.500 5.250 5.130 4.960 4.900 4.900

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Purchased from: External Transaction 2007-07-10MS 2007-07-10MS 2007-08-07CG 2007-08-07CG2 3128X4T43 2007-08-15UBS 3134A4RH9 2007-08-29BOA 2007-09-07UBS 2007-09-14UBS 2007-09-25MS 2007-09-25MS

18529 18530 18581 18777 18579 18618 18620 18647 18662 18708 18726 18727

Data Updated: SET_85LF: 11/01/2007 15:07 Run Date: 11/01/2007 - 15:07

MSDW MSDW SB SB FHLMC PW FHLMC BA PW PW MSDW MSDW

Sold Sold

07/18/2007 07/18/2007 08/29/2007 08/15/2007 09/17/2007 09/10/2007 09/15/2007 09/06/2007 09/21/2007 09/28/2007 10/05/2007 10/05/2007

5.303 5.303 5.293 5.293 5.250 5.272 5.400 5.323 5.201 5.029 4.968 4.968

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,000,000.00 20,000,000.00

Subtotal

220,000,000.00

219,991,245.69

0.00

22,000,000.00

Total Purchases

220,000,000.00

219,991,245.69

0.00

22,000,000.00

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

85 Res Loan Funds (Merged) Sales/Call Report Sorted by Source - Maturity Date July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

06/06/2007 07/23/2007 09/15/2007

3,947,000.00

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

4.250

3,978,558.11

3,940,645.33

59,643.59

4,000,288.92 Sale

21,730.81

3,978,558.11

3,940,645.33

59,643.59

4,000,288.92

21,730.81

1,310,119.87

1,297,673.00

18,570.13

1,316,243.13 Sale

6,123.26

Net Income

Sold By: 1985 Bond Resolution 31359MYZ0

18358

850721

FNMA FAC

Subtotal

3,947,000.00

Sold By: 1974 Bond Resolution 31359MYZ0

18358

850721

Data Updated: SET_85LF: 11/01/2007 15:07 Run Date: 11/01/2007 - 15:07

FNMA FAC

06/06/2007 07/16/2007 09/15/2007

1,300,000.00

4.250

Subtotal

1,300,000.00

1,310,119.87

1,297,673.00

18,570.13

1,316,243.13

6,123.26

Total Sales

5,247,000.00

5,288,677.98

5,238,318.33

78,213.72

5,316,532.05

27,854.07

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

85 Res Loan Funds (Merged) Maturity Report Sorted by Maturity Date Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

Par Value

Maturity Date

2007-06-20BOA 2007-06-25MS 2007-06-07UBS 2007-06-20BOA2 2007-07-10MS 2007-07-10MS

18419 18470 18390 18420 18529 18530

850721 850711 850721 850721 850711 850721

MC3 MC3 MC3 MC3 MC3 MC3

5,000,000.00 1,000,000.00 3,100,000.00 25,000,000.00 2,000,000.00 20,000,000.00

07/02/2007 07/02/2007 07/02/2007 07/09/2007 07/18/2007 07/18/2007

06/20/2007 06/25/2007 06/07/2007 06/20/2007 07/10/2007 07/10/2007

2007-08-07CG2 2007-08-07CG

18777 18581

850731 850731

MC3 SB MC3 SB

25,000,000.00 08/15/2007 50,000,000.00 08/29/2007

2007-08-29BOA 2007-08-15UBS 3134A4RH9 3134A4RH9 3128X4T43 2007-09-07UBS 2007-09-14UBS

18647 18618 18359 18620 18579 18662 18708

850731 850731 850721 850731 850731 850731 850731

MC3 MC3 FAC FAC FAC MC3 MC3

35,000,000.00 30,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 25,000,000.00 1,000,000.00

BA MSDW PW BA MSDW MSDW

BA PW FHLMC FHLMC FHLMC PW PW

Total Maturities

Data Updated: SET_85LF: 11/01/2007 15:07 Run Date: 11/01/2007 - 15:07

237,100,000.00

09/06/2007 09/10/2007 09/15/2007 09/15/2007 09/17/2007 09/21/2007 09/28/2007

Purchase Rate Date at Maturity

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

5.220 5.240 5.250 5.220 5.230 5.230

5,000,000.00 1,000,000.00 3,100,000.00 25,000,000.00 2,000,000.00 20,000,000.00

8,700.00 1,018.89 11,302.08 68,875.00 2,324.44 23,244.44

5,008,700.00 1,001,018.89 3,111,302.08 25,068,875.00 2,002,324.44 20,023,244.44

8,700.00 1,018.89 11,302.08 68,875.00 2,324.44 23,244.44

08/07/2007 08/07/2007

5.220 5.220

25,000,000.00 50,000,000.00

29,000.00 159,500.00

25,029,000.00 50,159,500.00

29,000.00 159,500.00

08/29/2007 08/15/2007 06/06/2007 08/20/2007 08/08/2007 09/07/2007 09/14/2007

5.250 5.200 3.500 3.500 5.000 5.130 4.960

35,000,000.00 30,000,000.00 5,039,375.00 5,075,347.22 5,097,916.67 25,000,000.00 1,000,000.00

40,833.33 112,666.67 87,500.00 87,500.00 125,000.00 49,875.00 1,928.89

35,040,833.33 30,112,666.67 5,087,500.00 5,087,500.00 5,125,000.00 25,049,875.00 1,001,928.89

40,833.33 112,666.67 48,125.00 12,152.78 27,083.33 49,875.00 1,928.89

237,312,638.89

809,268.74

237,909,268.74

596,629.85

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

FLOAT/EQUITY FUNDS DESCRIPTION Float Funds are considered to be the portion of funds at any given time in the various funds and accounts that will be needed for the next scheduled semi-annual Debt Service payment or for bond call from mortgage prepayment proceeds. Any excess that accumulates in the accounts is considered Equity Funds. These funds represent the cumulative net gain in any fund or group of funds. For both the Float and Equity funds, THDA’s investment objective is a balancing act: to maximize earnings while achieving sufficient liquidity at January 1 and July 1 to meet debt service and bond call requirements. The following funds hold the Float/Equity funds: Revenue Fund (1974 Resolution): • Revenue Account • Prepayment Account Revenue Fund (1985 Resolution): • Debt Service & Expense Account (DS&E) • Non-Mortgage Receipts Account (NMR) The chart below depicts where the General Bond Resolutions specify the different types of receipts be deposited and held: 1974 Resolution 1985 Resolution Revenue Pre-payment DS&E NMR Account Account Account Account Mortgage Loan Principal & Interest Prepayment & Foreclosure Receipts Interest on Non-Mortgage Investments

X

X X

X

X X

There is no compelling reason for the Resolutions to be structured differently at the present time. When the Agency began operations in 1974, funds were very limited and debt service was monitored monthly. Each month 1/12th of the annual Debt Service Requirement for the current year was required to be retained in the Revenue Fund and any excess was transferred to the General Fund. If less than the monthly requirement was collected in any month a transfer was made from the General Fund in the amount of that month’s deficit. After THDA became financially stronger this requirement was removed in a revision of the 1974 Resolution.

THDA QUARTERLY INVESTMENT REPORT FLOAT / EQUITY FUNDS September 30, 2007 1974 Resolution

Historical Fund Balances

6/30/05 6/30/06 6/30/07 9/30/07 Historical Returns (Yield) 1974 Resolution 1985 Resolution

Market Value 43,408,196.81 73,135,418.39 73,248,015.14 64,727,781.97

Quarter ending 9/30/2007 4.562% 4.754%

Current Fiscal Year 4.562% 4.754%

Last 12 Months 4.493% 4.587%

4.523% 4.407% 4.503%

4.523% 4.407% 4.503%

4.863% 4.625% 4.672%

Benchmarks: (1) One-year CMT (2) Three-year CMT (3) Five-year CMT Duration Average Duration to Maturity (Years) Average Duration to Call (Years)

Money Market Funds Federal Agency Coupons Variable Rate Securities Repurchase Agreements Discount Bonds Total

Amortized Cost 198,643,402.21 222,503,868.34 226,086,970.35 148,104,749.66

Market Value 198,664,021.22 218,621,387.74 223,612,729.05 146,960,531.77 Last 24 Months 4.420% 4.447% 4.810% 4.665% 4.685%

1974 Resolution 1985 Resolution

1.6 1.5 1974 Resolution

Asset Allocation

1985 Resolution

Amortized Cost 43,458,586.65 75,152,922.23 74,499,400.55 65,122,084.04

Dollar value* 6,006,683.19 43,015,400.85 16,100,000.00 65,122,084.04

0.8 0.7 1985 Resolution

Percentage Dollar value* 9.22% 25,144,491.08 66.05% 90,060,258.58 0.00% 24.72% 32,900,000.00 0.00% 100.00% 148,104,749.66

*Dollar values are stated as book (amortized cost) value.

Percentage 16.98% 60.81% 0.00% 22.21% 0.00% 100.00%

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1974 Resolution: Float/Equity Investments by Issuer Active Investments Sorted by Maturity Date September 30, 2007 CUSIP

Investment #

Security Type

Investmen t

Book Value

Current Rate

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

Call Date Collateral

Federal Farm Credit Bank 31331QZ59

15496

Federal Agency Coupon Securities

Fair

120,000.00

4.440

118,200.00 09/28/2007

4.440

07/10/2012

1,744

31331QZ59

16240

Federal Agency Coupon Securities

Fair

500,000.00

4.440

492,500.00 09/28/2007

4.439

07/10/2012

1,744

610,700.00

4.439

Subtotal and Average

620,000.00

1,744

Federal Home Loan Bank 3133XHZE5

17786

Federal Agency Coupon Securities

Fair

2,000,000.00

5.220

2,000,625.00 09/28/2007

5.220

12/05/2007

3133XLLA9

18492

Federal Agency Coupon Securities

Fair

1,000,000.00

5.250

1,000,625.00 09/28/2007

5.250

01/02/2008

93

3133XAT56

18634

Federal Agency Coupon Securities

Fair

995,254.03

4.000

995,937.50 09/28/2007

5.100

03/10/2008

161

31339YLW0

16299

Federal Agency Coupon Securities

Fair

500,000.00

3.360

494,531.25 09/28/2007

3.359

07/30/2008

303

31339YR87

14485

Federal Agency Coupon Securities

Fair

500,000.00

3.500

495,156.25 09/28/2007

3.500

08/05/2008

309

31339YR87

18557

Federal Agency Coupon Securities

Fair

985,813.33

3.500

990,312.50 09/28/2007

5.247

10/05/2007

4

3133MYY35

16576

Federal Agency Coupon Securities

Fair

2,000,000.00

3.600

1,978,750.00 09/28/2007

3.599

10/19/2007

18

3133MYY35

16797

Federal Agency Coupon Securities

Fair

199,992.04

3.600

197,875.00 09/28/2007

3.602

12/05/2008

431

31339XU51

18572

Federal Agency Coupon Securities

Fair

998,572.28

4.500

999,062.50 09/28/2007

4.963

12/30/2008

456

3133X34H3

16851

Federal Agency Coupon Securities

Fair

1,000,000.00

4.000

993,437.50 09/28/2007

3.999

01/07/2009

464

31339YFD9

14284

Federal Agency Coupon Securities

Fair

499,962.75

3.500

493,593.75 09/28/2007

3.506

01/23/2009

480

31339YFD9

14581

Federal Agency Coupon Securities

Fair

999,953.94

3.500

987,187.50 09/28/2007

3.506

10/19/2007

18

31339YFD9

16298

Federal Agency Coupon Securities

Fair

500,000.00

3.500

493,593.75 09/28/2007

3.499

01/23/2009

480

31339YPZ9

15212

Federal Agency Coupon Securities

Fair

500,000.00

3.625

494,375.00 09/28/2007

3.624

01/30/2009

487

31339YPZ9

15624

Federal Agency Coupon Securities

Fair

500,000.00

3.625

494,375.00 09/28/2007

3.625

01/30/2009

487

31339YPZ9

16301

Federal Agency Coupon Securities

Fair

500,000.00

3.625

494,375.00 09/28/2007

3.624

01/30/2009

487

3133X4LY5

15124

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

03/09/2009

525

31339XMB7

16300

Federal Agency Coupon Securities

Fair

500,000.00

4.000

492,031.25 09/28/2007

4.000

12/30/2010

1,186

31339XMB7

16792

Federal Agency Coupon Securities

Fair

200,888.89

4.000

196,812.50 09/28/2007

3.999

12/30/2010

1,186

31339YFA5

14580

Federal Agency Coupon Securities

Fair

998,879.46

4.200

980,937.50 09/28/2007

4.235

01/23/2012

1,575

31339X6B5

14576

Federal Agency Coupon Securities

Fair

999,527.80

4.500

979,375.00 09/28/2007

4.510

06/12/2013

2,081

31339YMM1

15461

Federal Agency Coupon Securities

Fair

410,000.00

4.690

403,593.75 09/28/2007

4.690

07/16/2013

2,115

31339YMM1

15666

Federal Agency Coupon Securities

Fair

1,000,000.00

4.690

984,375.00 09/28/2007

4.689

07/16/2013

2,115

31339YQD7

14274

Federal Agency Coupon Securities

Fair

1,000,000.00

4.750

986,250.00 09/28/2007

4.750

07/22/2013

2,121

31339YQA3

16243

Federal Agency Coupon Securities

Fair

1,000,000.00

5.000

992,500.00 09/28/2007

4.999

08/06/2013

2,136

31339YQA3

18244

Federal Agency Coupon Securities

Fair

984,903.58

5.000

992,500.00 09/28/2007

5.305

08/06/2013

2,136

3133X5QY7

15360

Federal Agency Coupon Securities

Fair

325,000.00

3.150

295,546.88 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15361

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15362

Federal Agency Coupon Securities

Fair

325,000.00

3.150

295,546.88 09/28/2007

3.150

03/28/2014

2,370

Data Updated: SET_74EQ: 11/01/2007 13:30 Run Date: 11/01/2007 - 13:30

65

12/09/2007

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1974 Resolution: Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

3133X9TC4

18301

Federal Agency Coupon Securities

3133XFD29

18659

Federal Agency Coupon Securities

31339YHH8

15621

31339YHH8

17619

31339YHH8

17620

Page 2 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

992,741.30

4.000

998,437.50 09/28/2007

5.251

12/29/2014

2,646

Fair

1,027,298.76

6.000

1,007,500.00 09/28/2007

5.919

04/25/2016

3,129

Federal Agency Coupon Securities

Fair

299,954.52

4.500

294,468.75 09/28/2007

4.505

10/05/2007

4

10/23/2007

Federal Agency Coupon Securities

Fair

486,276.45

4.500

490,781.25 09/28/2007

6.916

10/05/2007

4

10/23/2007

Federal Agency Coupon Securities

Fair

486,276.45

4.500

490,781.25 09/28/2007

6.916

10/05/2007

4

10/23/2007

Subtotal and Average

25,028,795.58

Market Value

Market Date

24,780,720.94

4.559

Call Date Collateral 12/29/2007

984

Federal Home Loan Mortgage Cor 3128X4WA5

18404

Federal Agency Coupon Securities

Fair

999,287.01

5.000

1,000,039.06 09/28/2007

5.300

12/28/2007

88

3128X1PR2

15498

Federal Agency Coupon Securities

Fair

275,000.00

3.000

269,986.46 09/28/2007

3.000

12/30/2008

456

3128X1PR2

16795

Federal Agency Coupon Securities

Fair

250,805.54

3.000

245,442.24 09/28/2007

3.009

12/30/2008

456

3133F1CV7

15344

Federal Agency Coupon Securities

Fair

179,688.33

4.000

177,005.51 09/28/2007

4.057

03/15/2011

1,261

3133F1CV7

16816

Federal Agency Coupon Securities

Fair

99,826.92

4.000

98,336.40 09/28/2007

4.056

03/15/2011

1,261

3128X1AR8

15142

Federal Agency Coupon Securities

Fair

1,003,375.11

5.125

997,299.96 09/28/2007

5.048

05/13/2013

2,051

3128X1CM7

14586

Federal Agency Coupon Securities

Fair

2,006,956.75

5.000

1,988,594.06 09/28/2007

4.921

10/05/2007

4

3128X1CM7

15457

Federal Agency Coupon Securities

Fair

150,000.00

5.000

149,144.55 09/28/2007

4.999

10/05/2007

4

3128X1CM7

15458

Federal Agency Coupon Securities

Fair

250,000.00

5.000

248,574.26 09/28/2007

4.999

10/05/2007

4

3128X1CM7

16798

Federal Agency Coupon Securities

Fair

100,000.00

5.000

99,429.70 09/28/2007

4.999

10/05/2007

4

3128X1CM7

16799

Federal Agency Coupon Securities

Fair

200,000.00

5.000

198,859.41 09/28/2007

4.999

10/05/2007

4

3128X1CM7

16802

Federal Agency Coupon Securities

Fair

100,000.00

5.000

99,429.70 09/28/2007

4.999

10/05/2007

4

3128X1PT8

15626

Federal Agency Coupon Securities

Fair

100,000.00

4.500

97,936.71 09/28/2007

4.499

07/16/2013

2,115

3128X0R27

14585

Federal Agency Coupon Securities

Fair

199,513.09

5.000

196,594.79 09/28/2007

5.039

03/10/2016

3,083

3128X1SW8

16793

Federal Agency Coupon Securities

Fair

199,066.92

5.000

195,955.81 09/28/2007

5.069

07/29/2016

3,224

3128X1SW8

16794

Federal Agency Coupon Securities

Fair

199,066.92

5.000

195,955.81 09/28/2007

5.069

07/29/2016

3,224

3128X1SW8

16854

Federal Agency Coupon Securities

Fair

1,000,000.00

5.000

979,779.05 09/28/2007

5.000

07/29/2016

3,224

3128X2VE2

15272

Federal Agency Coupon Securities

Fair

99,770.42

5.000

99,919.91 09/28/2007

5.028

02/25/2019

4,165

3128X2VE2

15273

Federal Agency Coupon Securities

Fair

99,770.42

5.000

99,919.91 09/28/2007

5.028

02/25/2019

4,165

3128X2VE2

15622

Federal Agency Coupon Securities

Fair

499,242.34

5.000

499,599.53 09/28/2007

5.019

02/25/2019

4,165

Subtotal and Average

8,011,369.77

7,937,802.83

4.860

1,372

Federal National Mortgage Admi 31359MP56

18473

Federal Agency Coupon Securities

Fair

301,068.87

5.250

300,093.75 09/28/2007

5.280

12/03/2007

31359MP56

18476

Federal Agency Coupon Securities

Fair

1,003,562.91

5.250

1,000,312.50 09/28/2007

5.280

12/03/2007

63

3136F8PZ2

18501

Federal Agency Coupon Securities

Fair

900,000.00

5.250

900,000.00 09/28/2007

5.250

01/02/2008

93

3136F5GL9

15394

Federal Agency Coupon Securities

Fair

500,089.23

4.150

496,562.50 09/28/2007

4.139

10/05/2007

4

3136F5GL9

15395

Federal Agency Coupon Securities

Fair

480,085.66

4.150

476,700.00 09/28/2007

4.139

10/05/2007

4

3136F5GL9

15396

Federal Agency Coupon Securities

Fair

600,107.07

4.150

595,875.00 09/28/2007

4.139

10/05/2007

4

3136F5GL9

15397

Federal Agency Coupon Securities

Fair

220,039.26

4.150

218,487.50 09/28/2007

4.139

10/05/2007

4

3136F5GL9

15398

Federal Agency Coupon Securities

Fair

700,124.93

4.150

695,187.50 09/28/2007

4.139

10/05/2007

4

3136F5GL9

15401

Federal Agency Coupon Securities

Fair

275,043.65

4.150

273,109.38 09/28/2007

4.140

10/05/2007

4

Data Updated: SET_74EQ: 11/01/2007 13:30 Run Date: 11/01/2007 - 13:30

63

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1974 Resolution: Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

Book Value

Current Rate

Page 3

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

3136F5GL9

15402

Federal Agency Coupon Securities

Fair

425,067.46

4.150

422,078.13 09/28/2007

4.140

10/05/2007

4

3136F5GL9

15427

Federal Agency Coupon Securities

Fair

150,011.93

4.150

148,968.75 09/28/2007

4.144

10/05/2007

4

3136F5GL9

15428

Federal Agency Coupon Securities

Fair

100,007.95

4.150

99,312.50 09/28/2007

4.144

10/05/2007

4

3136F5GL9

15528

Federal Agency Coupon Securities

Fair

500,000.00

4.150

496,562.50 09/28/2007

4.149

10/05/2007

4

3136F5GL9

15861

Federal Agency Coupon Securities

Fair

500,000.00

4.150

496,562.50 09/28/2007

4.149

10/05/2007

4

3136F3BN5

14172

Federal Agency Coupon Securities

Fair

600,020.90

5.000

595,875.00 09/28/2007

4.998

03/11/2013

1,988

3136F3BN5

14719

Federal Agency Coupon Securities

Fair

600,005.68

5.000

595,875.00 09/28/2007

4.997

03/11/2013

1,988

3136F3KB1

14592

Federal Agency Coupon Securities

Fair

1,500,000.00

5.000

1,480,312.50 09/28/2007

4.999

10/19/2007

9,291,875.01

4.654

Subtotal and Average

9,355,235.50

Call Date Collateral

18 277

Morgan Stanley Dean Witter 2007-09-25MS

18715

Repurchase Agreements

Fair

8,000,000.00

4.900

8,000,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18716

Repurchase Agreements

Fair

1,000,000.00

4.900

1,000,000.00 09/28/2007

4.968

10/05/2007

4

9,000,000.00

4.968

Subtotal and Average

9,000,000.00

4

Smith - Barney 2007-09-28CG

18734

Repurchase Agreements

Fair

Subtotal and Average Total and Average

Data Updated: SET_74EQ: 11/01/2007 13:30 Run Date: 11/01/2007 - 13:30

7,100,000.00 7,100,000.00 59,115,400.85

4.750

7,100,000.00 09/28/2007

4.816

7,100,000.00

4.816

11/01/2007

31

31

58,721,098.78

4.707

669

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1974 Res: Float/Equity Summary Investments by All Types Active Investments September 30, 2007 CUSIP

Investment #

Fund

Issuer

Par Value

Purchase Price

Book Value

Current Rate

Maturity Date

Call Date

Call Price

Federal Agency Coupon Securities Subtotal

43,047,500.00

43,015,400.85

Subtotal

16,100,000.00

16,100,000.00

Total

59,147,500.00

Repurchase Agreements

Data Updated: SET_74E2: 11/01/2007 13:33 Run Date: 11/01/2007 - 13:33

59,115,400.85

Portfolio TH08 AC AT (PRF_DT) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1974 Res: Float/Equity Summary Interest Earnings Sorted by Fund - Fund July 1, 2007 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2003-A RF (6076009540) Subtotal

82,275,000.00

43,265,960.19

34,242,273.65

4.601

386,754.10

10,395.40

397,149.50

Subtotal

7,325,000.00

6,317,916.39

5,902,632.88

4.727

69,884.94

437.24

70,322.18

Subtotal

4,670,000.00

4,285,976.37

4,254,842.45

4.380

47,059.35

-85.69

46,973.66

Subtotal

1,200,000.00

1,200,350.19

1,140,362.66

4.316

12,400.00

4.56

12,404.56

Subtotal

4,362,500.00

3,570,376.93

3,368,018.35

4.217

35,477.50

323.90

35,801.40

Subtotal

900,000.00

500,000.00

714,424.78

4.907

8,119.45

716.00

8,835.45

Subtotal

7,865,000.00

4,776,949.43

3,897,912.28

4.547

44,150.85

519.86

44,670.71

Subtotal

800,000.00

500,000.00

704,557.63

4.442

7,673.61

214.57

7,888.18

Subtotal

4,225,000.00

3,049,719.01

2,870,321.84

4.134

29,567.17

339.59

29,906.76

Subtotal

1,800,000.00

1,603,464.40

1,737,911.05

5.135

22,018.06

477.41

22,495.47

Total

115,422,500.00

69,070,712.91

58,833,257.56

4.562

663,105.03

13,342.84

676,447.87

Fund: 2003-A Prepay Acct(6076009602)

Fund: 1994A RF (6076005599)

Fund: 1994A PREPAY ACCT (6076005651)

Fund: 1994B RF (6076005697

Fund: 1994B PREPAY ACCT (6076005759)

Fund: 1995A RF (6076005795)

Fund: 1995A PREPAY ACCT (6076005857)

Fund: 1995B/C RF (6076005900)

Fund: 1995B/C PRPAY ACC (6076005964)

Data Updated: SET_74E2: 11/01/2007 13:33 Run Date: 11/01/2007 - 13:33

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1974 Res: Float/Equity Summary Interest Earnings Sorted by Fund - Fund October 1, 2006 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2003-A RF (6076009540) Subtotal

84,275,000.00

16,468,553.56

25,666,103.84

4.546

1,143,371.30

23,477.14

1,166,848.44

Subtotal

7,325,000.00

3,614,233.85

5,459,051.07

4.723

256,262.23

1,556.24

257,818.47

Subtotal

4,670,000.00

4,022,804.01

4,073,937.75

4.363

178,182.32

-444.88

177,737.44

Subtotal

1,200,000.00

1,100,006.72

1,111,003.08

4.327

48,068.75

4.18

48,072.93

Subtotal

4,362,500.00

2,986,940.84

3,083,141.04

4.157

127,728.11

446.87

128,174.98

Subtotal

900,000.00

500,000.00

554,046.79

4.844

26,119.45

716.00

26,835.45

Subtotal

7,865,000.00

3,314,398.34

3,476,460.73

4.408

152,661.82

570.95

153,232.77

Subtotal

800,000.00

500,000.00

551,559.73

4.218

23,048.61

214.57

23,263.18

Subtotal

4,225,000.00

2,624,669.40

2,671,537.38

4.071

108,365.36

389.20

108,754.56

Subtotal

1,800,000.00

600,024.74

895,080.82

5.076

44,955.56

478.54

45,434.10

Total

117,422,500.00

35,731,631.46

47,541,922.25

4.493

2,108,763.51

27,408.81

2,136,172.32

Fund: 2003-A Prepay Acct(6076009602)

Fund: 1994A RF (6076005599)

Fund: 1994A PREPAY ACCT (6076005651)

Fund: 1994B RF (6076005697

Fund: 1994B PREPAY ACCT (6076005759)

Fund: 1995A RF (6076005795)

Fund: 1995A PREPAY ACCT (6076005857)

Fund: 1995B/C RF (6076005900)

Fund: 1995B/C PRPAY ACC (6076005964)

Data Updated: SET_74E2: 11/01/2007 13:37 Run Date: 11/01/2007 - 13:37

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1974 Res: Float/Equity Summary Interest Earnings Sorted by Fund - Fund October 1, 2005 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2003-A RF (6076009540) Subtotal

84,275,000.00

11,529,192.04

20,296,299.73

4.478

1,794,654.63

22,944.71

1,817,599.34

Subtotal

7,325,000.00

3,125,136.15

4,293,425.07

4.605

393,924.73

1,528.94

395,453.67

Subtotal

4,670,000.00

3,874,429.01

4,027,977.06

4.341

350,632.73

-963.28

349,669.45

Subtotal

1,200,000.00

1,100,007.76

1,105,505.16

4.323

95,568.75

3.14

95,571.89

Subtotal

4,362,500.00

2,412,308.97

2,933,411.08

4.122

241,295.74

551.06

241,846.80

Subtotal

900,000.00

500,000.00

527,023.40

4.823

50,119.45

716.00

50,835.45

Subtotal

7,865,000.00

3,034,706.91

3,350,573.10

4.374

292,471.24

613.28

293,084.52

Subtotal

800,000.00

500,000.00

525,779.87

4.162

43,548.61

214.57

43,763.18

Subtotal

4,225,000.00

2,624,603.25

2,657,516.67

4.022

213,314.73

455.35

213,770.08

Subtotal

1,800,000.00

600,028.58

747,553.74

5.045

74,955.56

474.70

75,430.26

Total

117,422,500.00

29,300,412.67

40,465,064.88

4.420

3,550,486.17

26,538.47

3,577,024.64

Fund: 2003-A Prepay Acct(6076009602)

Fund: 1994A RF (6076005599)

Fund: 1994A PREPAY ACCT (6076005651)

Fund: 1994B RF (6076005697

Fund: 1994B PREPAY ACCT (6076005759)

Fund: 1995A RF (6076005795)

Fund: 1995A PREPAY ACCT (6076005857)

Fund: 1995B/C RF (6076005900)

Fund: 1995B/C PRPAY ACC (6076005964)

Data Updated: SET_74E2: 11/01/2007 13:44 Run Date: 11/01/2007 - 13:44

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1974 Resolution: Float/Equity Purchases Report Sorted by Source - Purchase Date July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Sec. Type Issuer

7403A1 7403A1 7495A1 7495A7 7495B1 7403A1 7495A1 7403A1 7403A1 7495A1 7403A1 7403A1 7403A1 7403A1 7494A1 7494B1 7495A1 7495B1 7403A1 7403A1 7403A7 7403A1

FAC FAC FAC FAC FAC FAC MC3 MC3 FAC MC3 MC3 FAC FAC MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

1,000,000.00 900,000.00 1,000,000.00 300,000.00 600,000.00 1,500,000.00 500,000.00 1,000,000.00 1,000,000.00 700,000.00 6,800,000.00 1,000,000.00 1,000,000.00 7,000,000.00 400,000.00 400,000.00 800,000.00 400,000.00 1,700,000.00 8,000,000.00 1,000,000.00 7,100,000.00

07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/06/2007 08/07 - Final Pmt. 07/06/2007 09/14 - Final Pmt. 07/06/2007 08/07 - Final Pmt. 07/06/2007 09/14 - Final Pmt. 07/10/2007 07/18 - At Maturity 07/10/2007 07/18 - At Maturity 08/03/2007 12/30 - 06/30 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/29/2007 09/10 - 03/10 09/07/2007 10/25 - 04/25 09/07/2007 09/21 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/28/2007 11/01 - At Maturity

1,000,000.00 900,000.00 999,284.77 299,785.43 599,570.86 1,498,927.16 500,000.00 1,000,000.00 993,730.00 700,000.00 6,800,000.00 994,298.87 1,005,340.00 7,000,000.00 400,000.00 400,000.00 800,000.00 400,000.00 1,700,000.00 8,000,000.00 1,000,000.00 7,100,000.00

5.250 5.250 5.000 5.000 5.000 5.000 5.230 5.230 4.500 5.250 5.250 4.000 6.000 5.130 4.960 4.960 4.960 4.960 4.960 4.900 4.900 4.750

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Purchased from: External Transaction 3133XLLA9 3136F8PZ2 31359MJ87 31359MJ87 31359MJ87 31359MJ87 2007-07-10MS 2007-07-10MS 31339XU51 2007-08-29BOA 2007-08-29BOA 3133XAT56 3133XFD29 2007-09-07UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-25MS 2007-09-25MS 2007-09-28CG

18492 18501 18507 18508 18509 18510 18520 18528 18572 18636 18645 18634 18659 18661 18668 18669 18670 18671 18696 18715 18716 18734

FHLB FNMA FNMA FNMA FNMA FNMA MSDW MSDW FHLB BA BA FHLB FHLB PW PW PW PW PW PW MSDW MSDW SB Subtotal

44,100,000.00

Sold Sold Sold Sold

4,125.00

Received 22,000.00

44,090,937.09

26,125.00

399,284.00 399,284.00 99,821.00 199,642.00 199,642.00

Sold Sold Sold Sold Sold

1,297,673.00

0.00

982,500.00

Received

01/02/2008 01/02/2008 09/14/2007 09/14/2007 09/14/2007 09/14/2007 07/18/2007 07/18/2007 12/30/2008 09/06/2007 09/06/2007 03/10/2008 04/25/2016 09/21/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 10/05/2007 10/05/2007 11/01/2007

5.250 5.250 5.300 5.300 5.300 5.300 5.303 5.303 4.963 5.323 5.323 5.100 5.919 5.201 5.029 5.029 5.029 5.029 5.029 4.968 4.968 4.816

1,000,000.00 900,000.00 0.00 0.00 0.00 0.00 0.00 0.00 998,572.28 0.00 0.00 995,254.03 1,027,298.76 0.00 0.00 0.00 0.00 0.00 0.00 8,000,000.00 1,000,000.00 7,100,000.00 21,021,125.07

Purchased from: 1985 Bond Resolution 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0

18552 18553 18554 18555 18556

7494B1 7494B7 7495A1 7495B1 7495B7

FAC FAC FAC FAC FAC

FNMA FNMA FNMA FNMA FNMA Subtotal

400,000.00 400,000.00 100,000.00 200,000.00 200,000.00

07/16/2007 08/07 - Final Pmt. 07/16/2007 09/15 - Final Pmt. 07/16/2007 09/15 - Final Pmt. 07/16/2007 08/07 - Final Pmt. 07/16/2007 09/15 - Final Pmt.

1,300,000.00

4.250 4.250 4.250 4.250 4.250

09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007

5.276 5.276 5.276 5.276 5.276

0.00 0.00 0.00 0.00 0.00 0.00

Purchased from: Operating Account Group 31339YR87

18557

7403A1

FAC FHLB

1,000,000.00 07/20/2007 08/05 - 10/05

3.500

08/05/2008

985,813.33

Received = Accrued Interest at Purchase was received by report ending date.

Data Updated: SET_74EQ: 11/01/2007 13:30 Run Date: 11/01/2007 - 13:30

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

1974 Resolution: Float/Equity Purchases Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Data Updated: SET_74EQ: 11/01/2007 13:30 Run Date: 11/01/2007 - 13:30

Sec. Type Issuer

Original Par Value

Purchase Date Payment Periods

Page 2

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Subtotal

1,000,000.00

982,500.00

0.00

985,813.33

Total Purchases

46,400,000.00

46,371,110.09

26,125.00

22,006,938.40

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1974 Resolution: Float/Equity Sales/Call Report Sorted by Source - Investment Number July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

4.800

1,000,000.00

975,000.00

7,733.33

982,733.33 Sale

-17,266.67

499,821.51

497,343.75

4,375.00

501,718.75 Sale

1,897.24

Net Income

Sold By: External Transaction 31339YRU8

14615

7403A7

FHLB FAC

09/17/2003 09/21/2007 07/23/2013

1,000,000.00

31339YH62

14982

7495A1

FHLB FAC

12/31/2003 09/26/2007 07/23/2013

500,000.00

3133X4LY5

15124

7495B1

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133F1CV7

15343

7494A1

FHLMC FAC

06/03/2004 09/21/2007 03/15/2011

120,000.00

4.000

119,790.55

116,587.50

80.00

116,667.50 Sale

-3,123.05

3133X5QY7

15360

7494A1

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

12,500.00

3.150

12,500.00

12,500.00

2,657.81

15,157.81 Call

2,657.81

3133X5QY7

15361

7494B1

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15362

7495A1

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

12,500.00

3.150

12,500.00

12,500.00

2,657.81

15,157.81 Call

2,657.81

31331QZ67

15468

7494A1

FFCB FAC

06/25/2004 09/14/2007 07/08/2015

425,000.00

4.900

425,000.00

409,062.50

3,817.92

412,880.42 Sale

-12,119.58

31331QZ67

15497

7403A1

FFCB FAC

06/29/2004 09/14/2007 07/08/2015

500,000.00

4.900

500,000.00

481,250.00

4,491.66

485,741.66 Sale

-14,258.34

31339YQ47

15625

7403A1

FHLB FAC

08/25/2004 09/26/2007 07/30/2010

300,000.00

4.100

300,000.00

293,625.00

1,913.33

295,538.33 Sale

-4,461.67

31339YQ47

15665

7403A7

FHLB FAC

09/21/2004 09/26/2007 07/30/2010

200,000.00

4.100

200,000.00

195,750.00

1,275.55

197,025.55 Sale

-2,974.45

3133MWZZ7

15967

7403A1

FHLB FAC

03/07/2005 09/14/2007 03/25/2013

500,000.00

4.850

498,866.41

487,656.25

11,384.03

499,040.28 Sale

173.87

31339YRU8

16241

7494B7

FHLB FAC

06/06/2005 09/21/2007 07/23/2013

500,000.00

4.800

500,000.00

487,500.00

3,866.67

491,366.67 Sale

-8,633.33

31339YQ47

16242

7495A7

FHLB FAC

06/06/2005 09/26/2007 07/30/2010

500,000.00

4.100

500,000.00

489,375.00

3,188.89

492,563.89 Sale

-7,436.11

3133F1CV7

16796

7495A1

FHLMC FAC

02/10/2006 09/21/2007 03/15/2011

130,000.00

4.000

129,773.19

126,303.12

86.67

126,389.79 Sale

-3,383.40

3133X3VP5

18024

7403A1

FHLB FAC

03/09/2007 08/27/2007 02/27/2014

2,500,000.00

4.000 V

2,488,522.11

2,500,000.00

50,000.00

2,550,000.00 Call

61,477.89

3133X8NP3

18175

7403A1

FHLB FAC

04/11/2007 09/29/2007 09/29/2014

3,000,000.00

3.650

2,978,474.52

3,000,000.00

27,375.00

3,027,375.00 Call

48,900.48

3133XGB37

18318

7403A1

FHLB FAC

05/29/2007 07/27/2007 07/27/2016

1,000,000.00

7.000

1,026,276.50

1,000,000.00

35,000.00

1,035,000.00 Call

8,723.50

11,222,774.79

11,115,703.12

162,297.89

11,278,001.01

55,226.22

Subtotal

11,231,250.00

5.000 V

V - Security with variable rate change.

Data Updated: SET_74EQ: 11/01/2007 13:30 Run Date: 11/01/2007 - 13:30

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

1974 Resolution: Float/Equity Sales/Call Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

Page 2

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

Net Income

Sold By: 1985 Bond Resolution 31359MP56

18474

7494A7

FNMA FAC

06/28/2007 08/07/2007 12/03/2007

100,000.00

5.250

100,349.07

99,993.00

933.33

100,926.33 Sale

577.26

31359MP56

18475

7494B1

FNMA FAC

06/28/2007 08/07/2007 12/03/2007

600,000.00

5.250

602,094.42

599,958.00

5,600.00

605,558.00 Sale

3,463.58

31359MJ87

18507

7495A1

FNMA FAC

07/06/2007 08/07/2007 09/14/2007

1,000,000.00

5.000

1,015,166.39

999,630.00

19,861.11

1,019,491.11 Sale

4,324.72

31359MJ87

18509

7495B1

FNMA FAC

07/06/2007 08/07/2007 09/14/2007

600,000.00

5.000

609,099.83

599,778.00

11,916.67

611,694.67 Sale

2,594.84

31359MYZ0

18552

7494B1

FNMA FAC

07/16/2007 08/07/2007 09/15/2007

400,000.00

4.250

405,252.74

399,540.00

6,705.56

406,245.56 Sale

992.82

31359MYZ0

18555

7495B1

FNMA FAC

07/16/2007 08/07/2007 09/15/2007

200,000.00

4.250

202,626.36

199,770.00

3,352.78

203,122.78 Sale

496.42

Data Updated: SET_74EQ: 11/01/2007 13:30 Run Date: 11/01/2007 - 13:30

Subtotal

2,900,000.00

2,934,588.81

2,898,669.00

48,369.45

2,947,038.45

12,449.64

Total Sales

14,131,250.00

14,157,363.60

14,014,372.12

210,667.34

14,225,039.46

67,675.86

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1974 Resolution: Float/Equity Maturity Report Sorted by Maturity Date Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

Par Value

Maturity Date

2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-05-16UBS 2007-06-05UBS 2007-07-10MS 2007-07-10MS

18452 18453 18462 18308 18328 18520 18528

7495A1 7495B1 7403A1 7403A1 7403A1 7495A1 7403A1

MC3 MC3 MC3 MC3 MC3 MC3 MC3

3133XJVN5 3133XJVN5 3133XET74

18221 18222 17869

7403A1 7403A7 7403A1

2007-08-29BOA 2007-08-29BOA 31359MJ87 31359MJ87 31359MYZ0 31359MYZ0 31359MYZ0 2007-09-07UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS

18636 18645 18508 18510 18553 18554 18556 18661 18668 18669 18670 18671 18696

7495A1 7403A1 7495A7 7403A1 7494B7 7495A1 7495B7 7403A1 7494A1 7494B1 7495A1 7495B1 7403A1

MSDW MSDW MSDW PW PW MSDW MSDW

1,500,000.00 500,000.00 1,000,000.00 4,600,000.00 7,400,000.00 500,000.00 1,000,000.00

07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/18/2007 07/18/2007

06/25/2007 06/25/2007 06/25/2007 05/16/2007 06/04/2007 07/10/2007 07/10/2007

FAC FAC FAC

FHLB FHLB FHLB

2,300,000.00 08/15/2007 700,000.00 08/15/2007 2,000,000.00 08/22/2007

MC3 MC3 FAC FAC FAC FAC FAC MC3 MC3 MC3 MC3 MC3 MC3

BA BA FNMA FNMA FNMA FNMA FNMA PW PW PW PW PW PW

700,000.00 6,800,000.00 300,000.00 1,500,000.00 400,000.00 100,000.00 200,000.00 7,000,000.00 400,000.00 400,000.00 800,000.00 400,000.00 1,700,000.00

Total Maturities

Data Updated: SET_74EQ: 11/01/2007 13:30 Run Date: 11/01/2007 - 13:30

42,200,000.00

09/06/2007 09/06/2007 09/14/2007 09/14/2007 09/15/2007 09/15/2007 09/15/2007 09/21/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007

Purchase Rate Date at Maturity

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

5.240 5.240 5.240 5.220 5.250 5.230 5.230

1,500,000.00 500,000.00 1,000,000.00 4,600,000.00 7,400,000.00 500,000.00 1,000,000.00

1,528.33 509.44 1,018.89 31,349.00 30,216.67 581.11 1,162.22

1,501,528.33 500,509.44 1,001,018.89 4,631,349.00 7,430,216.67 500,581.11 1,001,162.22

1,528.33 509.44 1,018.89 31,349.00 30,216.67 581.11 1,162.22

04/25/2007 04/25/2007 01/18/2007

5.150 5.150 4.875

2,323,031.95 707,009.72 2,000,000.00

59,225.00 18,025.00 48,750.00

2,359,225.00 718,025.00 2,048,750.00

36,193.05 11,015.28 48,750.00

08/29/2007 08/29/2007 07/06/2007 07/06/2007 07/16/2007 07/16/2007 07/16/2007 09/07/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007

5.250 5.250 5.000 5.000 4.250 4.250 4.250 5.130 4.960 4.960 4.960 4.960 4.960

700,000.00 6,800,000.00 304,666.67 1,523,333.33 405,713.89 101,428.47 202,856.94 7,000,000.00 400,000.00 400,000.00 800,000.00 400,000.00 1,700,000.00

816.67 7,933.33 7,500.00 37,500.00 8,500.00 2,125.00 4,250.00 13,965.00 771.56 771.56 1,543.11 771.56 3,279.11

700,816.67 6,807,933.33 307,500.00 1,537,500.00 408,500.00 102,125.00 204,250.00 7,013,965.00 400,771.56 400,771.56 801,543.11 400,771.56 1,703,279.11

816.67 7,933.33 2,833.33 14,166.67 2,786.11 696.53 1,393.06 13,965.00 771.56 771.56 1,543.11 771.56 3,279.11

42,268,040.97

282,092.56

42,482,092.56

214,051.59

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Resolution Float/Equity Investments by Issuer Active Investments Sorted by Maturity Date September 30, 2007 CUSIP

Investment #

Investmen t

Security Type

Book Value

Current Rate

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

Call Date Collateral

Federal Farm Credit Bank 31331SGQ0

18401

Federal Agency Coupon Securities

Fair

565,434.26

3.000

565,692.50 09/28/2007

5.276

12/17/2007

77

31331SGQ0

18402

Federal Agency Coupon Securities

Fair

497,741.42

3.000

497,968.75 09/28/2007

5.276

12/17/2007

77

31331QZ59

14191

Federal Agency Coupon Securities

Fair

400,000.00

4.440

394,000.00 09/28/2007

4.440

07/10/2012

1,744

31331QZ59

14192

Federal Agency Coupon Securities

Fair

500,000.00

4.440

492,500.00 09/28/2007

4.440

07/10/2012

1,744

31331QZ59

14947

Federal Agency Coupon Securities

Fair

140,000.00

4.440

137,900.00 09/28/2007

4.440

07/10/2012

1,744

31331QZ59

15115

Federal Agency Coupon Securities

Fair

1,000,000.00

4.440

985,000.00 09/28/2007

4.439

07/10/2012

1,744

31331QZ59

15460

Federal Agency Coupon Securities

Fair

340,000.00

4.440

334,900.00 09/28/2007

4.440

10/11/2007

10

31331QZ67

14178

Federal Agency Coupon Securities

Fair

199,838.14

4.900

195,875.00 09/28/2007

4.914

07/08/2015

2,837

31331QZ67

14183

Federal Agency Coupon Securities

Fair

1,000,000.00

4.900

979,375.00 09/28/2007

4.900

07/08/2015

2,837

31331QZ67

14972

Federal Agency Coupon Securities

Fair

100,000.00

4.900

97,937.50 09/28/2007

4.900

07/08/2015

2,837

Subtotal and Average

4,743,013.82

4,681,148.75

4.754

1,545

Federal Home Loan Bank 3133X5ER5

18587

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14

3133X5ER5

18588

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14

3133X5ER5

18589

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14

3133X5ER5

18590

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14 14

3133X5ER5

18591

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

3133X5ER5

18592

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14

3133X5ER5

18593

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14

3133X5ER5

18594

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14

3133X5ER5

18595

Federal Agency Coupon Securities

Fair

505,661.51

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14

3133X5ER5

18596

Federal Agency Coupon Securities

Fair

505,661.55

3.650

499,687.50 09/28/2007

5.250

10/15/2007

14

3133XAPC5

18544

Federal Agency Coupon Securities

Fair

299,333.81

4.000

299,531.25 09/28/2007

5.302

12/04/2007

64

3133XAPC5

18545

Federal Agency Coupon Securities

Fair

199,555.87

4.000

199,687.50 09/28/2007

5.302

12/04/2007

64

3133XAPC5

18546

Federal Agency Coupon Securities

Fair

199,555.87

4.000

199,687.50 09/28/2007

5.302

12/04/2007

64

3133XAPC5

18547

Federal Agency Coupon Securities

Fair

199,555.87

4.000

199,687.50 09/28/2007

5.302

12/04/2007

64

3133XAPC5

18548

Federal Agency Coupon Securities

Fair

199,555.87

4.000

199,687.50 09/28/2007

5.302

12/04/2007

64

3133XAPC5

18549

Federal Agency Coupon Securities

Fair

199,555.87

4.000

199,687.50 09/28/2007

5.302

12/04/2007

64

3133XAPC5

18550

Federal Agency Coupon Securities

Fair

99,777.94

4.000

99,843.75 09/28/2007

5.302

12/04/2007

64

3133XAPC5

18663

Federal Agency Coupon Securities

Fair

599,238.00

4.000

599,062.50 09/28/2007

5.192

12/04/2007

64

3133X2K53

18619

Federal Agency Coupon Securities

Fair

250,938.66

3.700

249,375.00 09/28/2007

5.270

12/10/2007

70

3133X5PN2

18399

Federal Agency Coupon Securities

Fair

497,608.65

3.250

497,968.75 09/28/2007

5.281

12/28/2007

88

3133X5PN2

18400

Federal Agency Coupon Securities

Fair

505,327.40

3.250

497,968.75 09/28/2007

5.281

12/28/2007

88

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

3133XLLA9

18489

Federal Agency Coupon Securities

3133XLLA9

18490

Federal Agency Coupon Securities

3133XLLA9

18491

3133XLLA9

Page 2 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

500,000.00

5.250

500,312.50 09/28/2007

5.250

01/02/2008

93

Fair

500,000.00

5.250

500,312.50 09/28/2007

5.250

01/02/2008

93

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,312.50 09/28/2007

5.250

01/02/2008

93

18493

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,312.50 09/28/2007

5.250

01/02/2008

93

3133XLLA9

18494

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,312.50 09/28/2007

5.250

01/02/2008

93

3133XLLA9

18495

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,312.50 09/28/2007

5.250

01/02/2008

93

3133XLLA9

18496

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,312.50 09/28/2007

5.250

01/02/2008

93

3133XLLA9

18497

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,312.50 09/28/2007

5.250

01/02/2008

93

31339YLW0

14306

Federal Agency Coupon Securities

Fair

99,989.62

3.360

98,906.25 09/28/2007

3.374

07/30/2008

303

31339YLW0

14307

Federal Agency Coupon Securities

Fair

499,948.09

3.360

494,531.25 09/28/2007

3.374

07/30/2008

303

31339YLW0

14309

Federal Agency Coupon Securities

Fair

499,948.09

3.360

494,531.25 09/28/2007

3.374

07/30/2008

303

31339YLW0

14976

Federal Agency Coupon Securities

Fair

545,000.00

3.360

539,039.06 09/28/2007

3.359

07/30/2008

303

31339YR87

15000

Federal Agency Coupon Securities

Fair

100,000.00

3.500

99,031.25 09/28/2007

3.500

10/05/2007

4

31339YR87

15001

Federal Agency Coupon Securities

Fair

300,000.00

3.500

297,093.75 09/28/2007

3.500

08/05/2008

309

31339YR87

15002

Federal Agency Coupon Securities

Fair

300,000.00

3.500

297,093.75 09/28/2007

3.500

08/05/2008

309

31339YR87

15003

Federal Agency Coupon Securities

Fair

300,000.00

3.500

297,093.75 09/28/2007

3.500

10/05/2007

4

3133MYY35

15011

Federal Agency Coupon Securities

Fair

299,988.04

3.600

296,812.50 09/28/2007

3.603

12/05/2008

431

31339YFD9

14285

Federal Agency Coupon Securities

Fair

499,962.75

3.500

493,593.75 09/28/2007

3.506

01/23/2009

480

31339YPZ9

14302

Federal Agency Coupon Securities

Fair

499,962.20

3.625

494,375.00 09/28/2007

3.631

10/11/2007

10

31339YPZ9

14303

Federal Agency Coupon Securities

Fair

99,992.44

3.625

98,875.00 09/28/2007

3.631

10/11/2007

10

31339YPZ9

14941

Federal Agency Coupon Securities

Fair

400,000.00

3.625

395,500.00 09/28/2007

3.624

10/11/2007

10

3133X4LY5

15125

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

10/11/2007

10

12/09/2007

3133X4LY5

15126

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

10/11/2007

10

12/09/2007

3133X4LY5

15127

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

10/11/2007

10

12/09/2007

3133X4LY5

15128

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

10/11/2007

10

12/09/2007

3133X4LY5

15129

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

03/09/2009

525

12/09/2007

3133X4LY5

15130

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

03/09/2009

525

12/09/2007

3133X4LY5

15131

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

03/09/2009

525

12/09/2007

3133X4LY5

15132

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

03/09/2009

525

12/09/2007

3133X4LY5

15133

Federal Agency Coupon Securities

Fair

150,000.00

2.435

147,697.49 09/28/2007

2.435

03/09/2009

525

12/09/2007

31339YQ47

14459

Federal Agency Coupon Securities

Fair

199,967.92

4.100

197,687.50 09/28/2007

4.106

07/30/2010

1,033

Market Value

Market Date

31339YQ47

14463

Federal Agency Coupon Securities

Fair

199,967.92

4.100

197,687.50 09/28/2007

4.106

07/30/2010

1,033

31339YQ47

14465

Federal Agency Coupon Securities

Fair

99,983.96

4.100

98,843.75 09/28/2007

4.106

07/30/2010

1,033

31339YQ47

14468

Federal Agency Coupon Securities

Fair

499,919.80

4.100

494,218.75 09/28/2007

4.106

07/30/2010

1,033

31339XMB7

14162

Federal Agency Coupon Securities

Fair

440,000.00

4.000

432,987.50 09/28/2007

4.000

12/30/2010

1,186

31339XMB7

14938

Federal Agency Coupon Securities

Fair

300,000.00

4.000

295,218.75 09/28/2007

4.000

10/11/2007

10

31339YFA5

14279

Federal Agency Coupon Securities

Fair

499,366.01

4.200

490,468.75 09/28/2007

4.235

01/23/2012

1,575

31339YFA5

14280

Federal Agency Coupon Securities

Fair

499,366.01

4.200

490,468.75 09/28/2007

4.235

10/11/2007

10

31339YFA5

14281

Federal Agency Coupon Securities

Fair

569,277.25

4.200

559,134.38 09/28/2007

4.235

01/23/2012

1,575

31339YFA5

15462

Federal Agency Coupon Securities

Fair

430,000.00

4.200

421,803.13 09/28/2007

4.200

01/23/2012

1,575

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Call Date Collateral

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

31339YMM1

14239

Federal Agency Coupon Securities

31339YMM1

14241

Federal Agency Coupon Securities

31339YMM1

14949

31339YMM1

14977

31339YMM1

16813

31339YMM1 31339YQD7

Page 3 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

749,321.29

4.690

738,281.25 09/28/2007

4.710

10/23/2007

22

Fair

589,466.08

4.690

580,781.25 09/28/2007

4.710

07/16/2013

2,115

Federal Agency Coupon Securities

Fair

499,928.09

4.690

492,187.50 09/28/2007

4.693

07/16/2013

2,115

Federal Agency Coupon Securities

Fair

249,969.15

4.690

246,093.75 09/28/2007

4.692

10/11/2007

10

Federal Agency Coupon Securities

Fair

300,000.00

4.690

295,312.50 09/28/2007

4.689

07/16/2013

2,115

16814

Federal Agency Coupon Securities

Fair

200,000.00

4.690

196,875.00 09/28/2007

4.689

10/11/2007

10

14276

Federal Agency Coupon Securities

Fair

1,000,000.00

4.750

986,250.00 09/28/2007

4.750

10/16/2007

15

31339YQD7

15862

Federal Agency Coupon Securities

Fair

1,000,000.00

4.750

986,250.00 09/28/2007

4.750

10/11/2007

10

31339YRU8

14270

Federal Agency Coupon Securities

Fair

500,000.00

4.800

493,750.00 09/28/2007

4.800

07/23/2013

2,122

Market Value

Market Date

Call Date Collateral

3133X5QY7

15364

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

10/11/2007

10

3133X5QY7

15365

Federal Agency Coupon Securities

Fair

65,000.00

3.150

59,109.38 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15366

Federal Agency Coupon Securities

Fair

97,500.00

3.150

88,664.06 09/28/2007

3.150

10/11/2007

10

3133X5QY7

15367

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15368

Federal Agency Coupon Securities

Fair

65,000.00

3.150

59,109.38 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15369

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15370

Federal Agency Coupon Securities

Fair

325,000.00

3.150

295,546.88 09/28/2007

3.150

10/11/2007

10

3133X5QY7

15371

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15372

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15373

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15374

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15375

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

3133X5QY7

15376

Federal Agency Coupon Securities

Fair

97,500.00

3.150

88,664.06 09/28/2007

3.150

03/28/2014

2,370

3133X6E77

18648

Federal Agency Coupon Securities

Fair

404,145.28

4.000

399,750.00 09/28/2007

5.300

11/05/2007

35

11/05/2007

3133X6E77

18649

Federal Agency Coupon Securities

Fair

505,181.60

4.000

499,687.50 09/28/2007

4.041

11/05/2007

35

11/05/2007

3133X6E77

18650

Federal Agency Coupon Securities

Fair

101,036.33

4.000

99,937.50 09/28/2007

4.041

11/05/2007

35

11/05/2007

3133X6KS4

18651

Federal Agency Coupon Securities

Fair

403,734.43

4.000

399,750.00 09/28/2007

5.300

05/12/2014

2,415

11/12/2007

3133X6KS4

18652

Federal Agency Coupon Securities

Fair

201,867.22

4.000

199,875.00 09/28/2007

4.046

05/12/2014

2,415

11/12/2007

3133X6KS4

18653

Federal Agency Coupon Securities

Fair

302,800.83

4.000

299,812.50 09/28/2007

4.046

05/12/2014

2,415

11/12/2007

3133X6KS4

18654

Federal Agency Coupon Securities

Fair

100,933.62

4.000

99,937.50 09/28/2007

4.046

05/12/2014

2,415

11/12/2007

31339YHH8

14294

Federal Agency Coupon Securities

Fair

497,184.09

4.500

490,781.25 09/28/2007

4.695

10/05/2007

4

10/23/2007

31339YHH8

14296

Federal Agency Coupon Securities

Fair

696,057.72

4.500

687,093.75 09/28/2007

4.695

10/05/2007

4

10/23/2007

31339YHH8

17209

Federal Agency Coupon Securities

Fair

249,862.59

4.500

245,390.63 09/28/2007

4.539

10/05/2007

4

10/23/2007

31339YHH8

17210

Federal Agency Coupon Securities

Fair

249,862.59

4.500

245,390.63 09/28/2007

4.539

10/05/2007

4

10/23/2007

Subtotal and Average

32,590,609.96

32,102,304.02

4.487

485

Federal Home Loan Mortgage Cor 3128X4RF0

18627

Federal Agency Coupon Securities

Fair

2,036,360.55

4.625

1,999,906.01 09/28/2007

5.100

10/05/2007

4

3128X4RF0

18628

Federal Agency Coupon Securities

Fair

1,018,180.28

4.625

999,953.00 09/28/2007

5.100

10/05/2007

4

3128X4RF0

18629

Federal Agency Coupon Securities

Fair

1,018,180.28

4.625

999,953.00 09/28/2007

5.100

10/05/2007

4

3128X4RF0

18630

Federal Agency Coupon Securities

Fair

610,908.16

4.625

599,971.80 09/28/2007

5.100

10/05/2007

4

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

Book Value

Current Rate

Page 4

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

3128X4RF0

18631

Federal Agency Coupon Securities

Fair

407,272.11

4.625

399,981.20 09/28/2007

5.100

10/05/2007

4

3128X4RF0

18632

Federal Agency Coupon Securities

Fair

509,090.14

4.625

499,976.50 09/28/2007

5.100

10/05/2007

4

3128X4RF0

18633

Federal Agency Coupon Securities

Fair

509,090.13

4.625

499,976.50 09/28/2007

5.100

10/05/2007

4

3128X3H55

18517

Federal Agency Coupon Securities

Fair

502,142.32

3.250

499,248.50 09/28/2007

5.301

11/02/2007

32

3128X3H55

18518

Federal Agency Coupon Securities

Fair

502,142.31

3.250

499,248.50 09/28/2007

5.301

11/02/2007

32

3128X4BB6

18436

Federal Agency Coupon Securities

Fair

200,342.51

4.200

199,759.61 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18437

Federal Agency Coupon Securities

Fair

200,342.51

4.200

199,759.61 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18439

Federal Agency Coupon Securities

Fair

200,342.51

4.200

199,759.61 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18440

Federal Agency Coupon Securities

Fair

200,342.51

4.200

199,759.61 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18442

Federal Agency Coupon Securities

Fair

500,856.26

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18443

Federal Agency Coupon Securities

Fair

500,856.26

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18444

Federal Agency Coupon Securities

Fair

500,856.26

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18445

Federal Agency Coupon Securities

Fair

500,856.26

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18446

Federal Agency Coupon Securities

Fair

500,856.26

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18447

Federal Agency Coupon Securities

Fair

500,856.26

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18448

Federal Agency Coupon Securities

Fair

500,856.26

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18449

Federal Agency Coupon Securities

Fair

500,856.26

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18450

Federal Agency Coupon Securities

Fair

500,856.21

4.200

499,399.03 09/28/2007

5.300

11/26/2007

56

3128X4BB6

18665

Federal Agency Coupon Securities

Fair

707,543.28

4.200

699,158.65 09/28/2007

5.188

11/26/2007

56

3128X4WA5

18403

Federal Agency Coupon Securities

Fair

499,643.50

5.000

500,019.53 09/28/2007

5.300

12/28/2007

88

3128X4WA5

18405

Federal Agency Coupon Securities

Fair

499,643.50

5.000

500,019.53 09/28/2007

5.300

12/28/2007

88

3128X4WA5

18406

Federal Agency Coupon Securities

Fair

499,643.50

5.000

500,019.53 09/28/2007

5.300

12/28/2007

88

3128X4WA5

18407

Federal Agency Coupon Securities

Fair

499,643.50

5.000

500,019.53 09/28/2007

5.300

12/28/2007

88

3128X4WA5

18408

Federal Agency Coupon Securities

Fair

531,620.67

5.000

532,020.78 09/28/2007

5.300

12/28/2007

88

3128X1PR2

14130

Federal Agency Coupon Securities

Fair

499,840.55

3.000

490,884.48 09/28/2007

3.028

10/11/2007

10

3128X1PR2

14131

Federal Agency Coupon Securities

Fair

224,928.25

3.000

220,898.01 09/28/2007

3.028

12/30/2008

456

3128X1PR2

14132

Federal Agency Coupon Securities

Fair

499,840.55

3.000

490,884.48 09/28/2007

3.028

12/30/2008

456

3128X1PR2

14133

Federal Agency Coupon Securities

Fair

499,840.56

3.000

490,884.48 09/28/2007

3.028

12/30/2008

456

3128X1PR2

14134

Federal Agency Coupon Securities

Fair

499,840.55

3.000

490,884.48 09/28/2007

3.028

10/11/2007

10

3128X1PR2

14135

Federal Agency Coupon Securities

Fair

99,968.11

3.000

98,176.90 09/28/2007

3.028

12/30/2008

456

3128X1PR2

14136

Federal Agency Coupon Securities

Fair

499,840.55

3.000

490,884.48 09/28/2007

3.028

12/30/2008

456

3128X1PR2

14948

Federal Agency Coupon Securities

Fair

249,994.76

3.000

245,442.24 09/28/2007

3.002

12/30/2008

456

3128X1PR2

15503

Federal Agency Coupon Securities

Fair

400,000.00

3.000

392,707.58 09/28/2007

3.000

12/30/2008

456

3133F1CV7

15331

Federal Agency Coupon Securities

Fair

299,326.47

4.000

295,009.19 09/28/2007

4.074

03/15/2011

1,261

3133F1CV7

15334

Federal Agency Coupon Securities

Fair

299,326.47

4.000

295,009.19 09/28/2007

4.074

03/15/2011

1,261

3133F1CV7

15335

Federal Agency Coupon Securities

Fair

99,775.49

4.000

98,336.40 09/28/2007

4.074

03/15/2011

1,261

3133F1CV7

15338

Federal Agency Coupon Securities

Fair

99,775.49

4.000

98,336.40 09/28/2007

4.074

03/15/2011

1,261

3133F1CV7

15339

Federal Agency Coupon Securities

Fair

99,775.49

4.000

98,336.40 09/28/2007

4.074

03/15/2011

1,261

3133F1CV7

15340

Federal Agency Coupon Securities

Fair

99,775.49

4.000

98,336.40 09/28/2007

4.074

03/15/2011

1,261

3133F1CV7

15341

Federal Agency Coupon Securities

Fair

99,775.49

4.000

98,336.40 09/28/2007

4.074

03/15/2011

1,261

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Call Date Collateral

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

3133F1CV7

15348

Federal Agency Coupon Securities

3133F1CV7

15350

Federal Agency Coupon Securities

3133F1CV7

16815

3133F1CV7

Page 5 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

484,159.88

4.000

476,931.52 09/28/2007

4.057

03/15/2011

1,261

Fair

234,592.94

4.000

231,090.53 09/28/2007

4.057

03/15/2011

1,261

Federal Agency Coupon Securities

Fair

99,731.49

4.000

98,336.40 09/28/2007

4.086

03/15/2011

1,261

16817

Federal Agency Coupon Securities

Fair

99,731.49

4.000

98,336.40 09/28/2007

4.086

03/15/2011

1,261

3128X1AR8

15144

Federal Agency Coupon Securities

Fair

501,687.56

5.125

498,649.98 09/28/2007

5.048

10/11/2007

10

3128X1AR8

15146

Federal Agency Coupon Securities

Fair

501,687.56

5.125

498,649.98 09/28/2007

5.048

10/16/2007

15

3128X1CM7

15085

Federal Agency Coupon Securities

Fair

200,000.00

5.000

198,859.41 09/28/2007

4.999

10/05/2007

4

3128X1CM7

15217

Federal Agency Coupon Securities

Fair

300,000.00

5.000

298,289.11 09/28/2007

4.999

10/05/2007

4

3128X1CM7

15220

Federal Agency Coupon Securities

Fair

100,000.00

5.000

99,429.70 09/28/2007

4.999

10/05/2007

4

3128X1CM7

15221

Federal Agency Coupon Securities

Fair

100,000.00

5.000

99,429.70 09/28/2007

4.999

10/05/2007

4

3128X1CM7

15223

Federal Agency Coupon Securities

Fair

200,000.00

5.000

198,859.41 09/28/2007

4.999

10/05/2007

4

3128X1CM7

15506

Federal Agency Coupon Securities

Fair

100,000.00

5.000

99,429.70 09/28/2007

4.999

10/05/2007

4

3128X1CM7

16244

Federal Agency Coupon Securities

Fair

1,000,000.00

5.000

994,297.03 09/28/2007

5.000

10/05/2007

4

3128X1CM7

16801

Federal Agency Coupon Securities

Fair

200,000.00

5.000

198,859.41 09/28/2007

4.999

10/05/2007

4

3128X1PT8

14243

Federal Agency Coupon Securities

Fair

500,000.00

4.500

489,683.53 09/28/2007

4.500

10/11/2007

10

3128X1PT8

14244

Federal Agency Coupon Securities

Fair

500,000.00

4.500

489,683.53 09/28/2007

4.500

07/16/2013

2,115

3128X1PT8

14245

Federal Agency Coupon Securities

Fair

500,000.00

4.500

489,683.53 09/28/2007

4.500

10/11/2007

10

3128X1PT8

14247

Federal Agency Coupon Securities

Fair

700,000.00

4.500

685,556.95 09/28/2007

4.500

07/16/2013

2,115 15

Market Value

Market Date

3128X1PT8

14248

Federal Agency Coupon Securities

Fair

500,000.00

4.500

489,683.53 09/28/2007

4.500

10/16/2007

3128X1PT8

15466

Federal Agency Coupon Securities

Fair

100,000.00

4.500

97,936.71 09/28/2007

4.500

10/11/2007

10

3128X1PT8

15467

Federal Agency Coupon Securities

Fair

100,000.00

4.500

97,936.71 09/28/2007

4.500

07/16/2013

2,115

Call Date Collateral

3128X1MX2

14123

Federal Agency Coupon Securities

Fair

198,512.57

4.000

190,954.19 09/28/2007

4.148

10/11/2007

10

3128X1MX2

14124

Federal Agency Coupon Securities

Fair

496,281.42

4.000

477,385.48 09/28/2007

4.148

12/30/2013

2,282

3128X1MX2

14125

Federal Agency Coupon Securities

Fair

496,281.42

4.000

477,385.48 09/28/2007

4.148

12/30/2013

2,282

3128X1MX2

14126

Federal Agency Coupon Securities

Fair

496,281.42

4.000

477,385.48 09/28/2007

4.148

12/30/2013

2,282

3128X1MX2

14127

Federal Agency Coupon Securities

Fair

496,281.42

4.000

477,385.48 09/28/2007

4.148

10/11/2007

10

3128X1MX2

14128

Federal Agency Coupon Securities

Fair

496,281.42

4.000

477,385.48 09/28/2007

4.148

10/16/2007

15

3128X1MX2

14768

Federal Agency Coupon Securities

Fair

299,281.68

4.000

286,431.29 09/28/2007

4.047

12/30/2013

2,282

3128X0KT5

14978

Federal Agency Coupon Securities

Fair

250,000.00

5.200

247,627.26 09/28/2007

5.200

10/16/2007

15

3128X1SW8

14313

Federal Agency Coupon Securities

Fair

497,665.73

5.000

489,889.53 09/28/2007

5.073

10/16/2007

15

3128X1SW8

14314

Federal Agency Coupon Securities

Fair

497,665.73

5.000

489,889.53 09/28/2007

5.073

10/16/2007

15

3128X1SW8

14315

Federal Agency Coupon Securities

Fair

497,665.73

5.000

489,889.53 09/28/2007

5.073

10/11/2007

10

3128X1SW8

14316

Federal Agency Coupon Securities

Fair

99,533.15

5.000

97,977.91 09/28/2007

5.073

10/16/2007

15

3128X1SW8

14317

Federal Agency Coupon Securities

Fair

497,665.73

5.000

489,889.53 09/28/2007

5.073

10/16/2007

15

3128X1SW8

14319

Federal Agency Coupon Securities

Fair

497,665.73

5.000

489,889.53 09/28/2007

5.073

10/16/2007

15

3128X1SW8

14320

Federal Agency Coupon Securities

Fair

497,665.73

5.000

489,889.53 09/28/2007

5.073

10/16/2007

15

3128X1SW8

14321

Federal Agency Coupon Securities

Fair

497,665.73

5.000

489,889.53 09/28/2007

5.073

10/23/2007

22

3128X1SM0

14311

Federal Agency Coupon Securities

Fair

99,435.91

4.750

99,063.29 09/28/2007

4.946

10/16/2007

15

10/30/2007

3128X1SM0

14950

Federal Agency Coupon Securities

Fair

249,669.60

4.750

247,658.23 09/28/2007

4.797

10/16/2007

15

10/30/2007

3128X1SM0

16809

Federal Agency Coupon Securities

Fair

99,666.62

4.750

99,063.29 09/28/2007

4.957

10/11/2007

10

10/30/2007

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

3128X1SM0

16810

Federal Agency Coupon Securities

3128X1SM0

16811

Federal Agency Coupon Securities

3128X1SM0

16812

3128X2VE2 3128X2R56

Page 6 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

199,333.24

4.750

198,126.59 09/28/2007

4.957

10/11/2007

10

10/30/2007

Fair

249,166.56

4.750

247,658.23 09/28/2007

4.957

10/16/2007

15

10/30/2007

Federal Agency Coupon Securities

Fair

99,666.62

4.750

99,063.29 09/28/2007

4.957

10/11/2007

10

10/30/2007

15233

Federal Agency Coupon Securities

Fair

199,522.53

5.000

199,839.81 09/28/2007

5.029

10/11/2007

10

15415

Federal Agency Coupon Securities

Fair

99,655.10

4.000

99,570.80 09/28/2007

4.126

03/29/2019

4,197

Subtotal and Average

35,361,906.54

Market Value

Market Date

34,875,250.84

4.741

Call Date Collateral

12/29/2007

330

Federal National Mortgage Admi 31364FGA3

18433

Federal Agency Coupon Securities

Fair

585,006.46

6.210

580,665.88 09/28/2007

5.282

11/07/2007

37

31364FGA3

18434

Federal Agency Coupon Securities

Fair

585,006.46

6.210

580,665.88 09/28/2007

5.282

11/07/2007

37

31359MPZ0

18421

Federal Agency Coupon Securities

Fair

300,205.95

3.250

299,343.75 09/28/2007

5.300

11/15/2007

45

31359MPZ0

18423

Federal Agency Coupon Securities

Fair

400,274.60

3.250

399,125.00 09/28/2007

5.300

11/15/2007

45 45

31359MPZ0

18424

Federal Agency Coupon Securities

Fair

200,137.30

3.250

199,562.50 09/28/2007

5.300

11/15/2007

31359MPZ0

18425

Federal Agency Coupon Securities

Fair

500,343.25

3.250

498,906.25 09/28/2007

5.300

11/15/2007

45

31359MPZ0

18427

Federal Agency Coupon Securities

Fair

500,343.25

3.250

498,906.25 09/28/2007

5.300

11/15/2007

45

31359MPZ0

18428

Federal Agency Coupon Securities

Fair

500,343.25

3.250

498,906.25 09/28/2007

5.300

11/15/2007

45

31359MPZ0

18429

Federal Agency Coupon Securities

Fair

500,343.25

3.250

498,906.25 09/28/2007

5.300

11/15/2007

45

31359MPZ0

18430

Federal Agency Coupon Securities

Fair

500,343.25

3.250

498,906.25 09/28/2007

5.300

11/15/2007

45

31359MPZ0

18432

Federal Agency Coupon Securities

Fair

519,356.28

3.250

517,864.69 09/28/2007

5.300

11/15/2007

45

31359MPZ0

18664

Federal Agency Coupon Securities

Fair

1,310,607.95

3.250

1,297,156.25 09/28/2007

5.179

11/15/2007

45

31359MP56

18478

Federal Agency Coupon Securities

Fair

200,712.59

5.250

200,062.50 09/28/2007

5.280

12/03/2007

63

31359MP56

18479

Federal Agency Coupon Securities

Fair

301,068.87

5.250

300,093.75 09/28/2007

5.280

12/03/2007

63

31359MP56

18480

Federal Agency Coupon Securities

Fair

200,712.59

5.250

200,062.50 09/28/2007

5.280

12/03/2007

63

31359MP56

18481

Federal Agency Coupon Securities

Fair

200,712.59

5.250

200,062.50 09/28/2007

5.280

12/03/2007

63

31359MP56

18482

Federal Agency Coupon Securities

Fair

200,712.59

5.250

200,062.50 09/28/2007

5.280

12/03/2007

63

31359MP56

18483

Federal Agency Coupon Securities

Fair

200,712.59

5.250

200,062.50 09/28/2007

5.280

12/03/2007

63

31359MP56

18484

Federal Agency Coupon Securities

Fair

401,425.16

5.250

400,125.00 09/28/2007

5.280

12/03/2007

63

31359MP56

18485

Federal Agency Coupon Securities

Fair

200,712.59

5.250

200,062.50 09/28/2007

5.280

12/03/2007

63

31359MP56

18486

Federal Agency Coupon Securities

Fair

301,068.87

5.250

300,093.75 09/28/2007

5.280

12/03/2007

63

31359MP56

18487

Federal Agency Coupon Securities

Fair

401,425.15

5.250

400,125.00 09/28/2007

5.280

12/03/2007

63

31359MP56

18488

Federal Agency Coupon Securities

Fair

200,712.59

5.250

200,062.50 09/28/2007

5.280

12/03/2007

63

31359MP56

18573

Federal Agency Coupon Securities

Fair

100,929.59

5.250

100,031.25 09/28/2007

5.223

12/03/2007

63

31359MP56

18575

Federal Agency Coupon Securities

Fair

605,577.55

5.250

600,187.50 09/28/2007

5.223

12/03/2007

63

31359MP56

18666

Federal Agency Coupon Securities

Fair

202,887.50

5.250

200,062.50 09/28/2007

5.175

12/03/2007

63

3136F8PZ2

18498

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,000.00 09/28/2007

5.250

01/02/2008

93

3136F8PZ2

18499

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,000.00 09/28/2007

5.250

01/02/2008

93

3136F8PZ2

18500

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,000.00 09/28/2007

5.250

01/02/2008

93

3136F8PZ2

18502

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,000.00 09/28/2007

5.250

01/02/2008

93

3136F8PZ2

18503

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,000.00 09/28/2007

5.250

01/02/2008

93

3136F8PZ2

18504

Federal Agency Coupon Securities

Fair

500,000.00

5.250

500,000.00 09/28/2007

5.250

01/02/2008

93

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

3136F8PZ2

18505

Federal Agency Coupon Securities

3136F8PZ2

18506

Federal Agency Coupon Securities

3136F2SA7

14728

3136F2SA7

Page 7 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

800,000.00

5.250

800,000.00 09/28/2007

5.250

01/02/2008

93

Fair

300,000.00

5.250

300,000.00 09/28/2007

5.250

01/02/2008

93

Federal Agency Coupon Securities

Fair

300,120.99

5.250

297,281.25 09/28/2007

5.241

10/16/2007

15

16296

Federal Agency Coupon Securities

Fair

500,000.00

5.250

495,468.75 09/28/2007

5.249

10/16/2007

15

3136F3DM5

15274

Federal Agency Coupon Securities

Fair

300,000.00

5.125

292,593.75 09/28/2007

5.124

10/11/2007

10

3136F3DM5

15276

Federal Agency Coupon Securities

Fair

300,000.00

5.125

292,593.75 09/28/2007

5.124

10/16/2007

15

3136F3DM5

15277

Federal Agency Coupon Securities

Fair

300,000.00

5.125

292,593.75 09/28/2007

5.124

10/16/2007

15

3136F3DM5

15278

Federal Agency Coupon Securities

Fair

300,000.00

5.125

292,593.75 09/28/2007

5.124

10/16/2007

15

3136F3DM5

15280

Federal Agency Coupon Securities

Fair

200,000.00

5.125

195,062.50 09/28/2007

5.124

10/16/2007

15

3136F3DM5

16800

Federal Agency Coupon Securities

Fair

50,000.00

5.125

48,765.63 09/28/2007

5.124

10/11/2007

10

3136F2T24

13334

Federal Agency Coupon Securities

Fair

198,427.82

5.250

195,625.00 09/28/2007

5.358

10/11/2007

10

3136F2T24

13336

Federal Agency Coupon Securities

Fair

297,641.73

5.250

293,437.50 09/28/2007

5.358

10/16/2007

15

3136F2T24

13338

Federal Agency Coupon Securities

Fair

396,855.65

5.250

5.358

10/16/2007

Subtotal and Average

17,364,728.26

Market Value

Market Date

391,250.00 09/28/2007 17,257,337.08

5.256

Call Date Collateral

15 54

Morgan Stanley Dean Witter 2007-09-25MS

18710

Repurchase Agreements

Fair

700,000.00

4.900

700,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18711

Repurchase Agreements

Fair

500,000.00

4.900

500,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18712

Repurchase Agreements

Fair

500,000.00

4.900

500,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18713

Repurchase Agreements

Fair

1,000,000.00

4.900

1,000,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18714

Repurchase Agreements

Fair

1,500,000.00

4.900

1,500,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18717

Repurchase Agreements

Fair

2,400,000.00

4.900

2,400,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18718

Repurchase Agreements

Fair

1,500,000.00

4.900

1,500,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18719

Repurchase Agreements

Fair

600,000.00

4.900

600,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18720

Repurchase Agreements

Fair

500,000.00

4.900

500,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18721

Repurchase Agreements

Fair

2,200,000.00

4.900

2,200,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18722

Repurchase Agreements

Fair

1,500,000.00

4.900

1,500,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18723

Repurchase Agreements

Fair

1,400,000.00

4.900

1,400,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18724

Repurchase Agreements

Fair

300,000.00

4.900

300,000.00 09/28/2007

4.968

10/05/2007

4

2007-09-25MS

18725

Repurchase Agreements

Fair

400,000.00

4.900

400,000.00 09/28/2007

4.968

10/05/2007

Subtotal and Average

15,000,000.00

15,000,000.00

4.968

4 4

Smith - Barney 2007-09-28CG

18728

Repurchase Agreements

Fair

1,200,000.00

4.750

1,200,000.00 09/28/2007

4.816

11/01/2007

31

2007-09-28CG

18729

Repurchase Agreements

Fair

1,500,000.00

4.750

1,500,000.00 09/28/2007

4.816

11/01/2007

31

2007-09-28CG

18730

Repurchase Agreements

Fair

3,000,000.00

4.750

3,000,000.00 09/28/2007

4.816

11/01/2007

31

2007-09-28CG

18731

Repurchase Agreements

Fair

1,500,000.00

4.750

1,500,000.00 09/28/2007

4.816

11/01/2007

31

2007-09-28CG

18732

Repurchase Agreements

Fair

7,100,000.00

4.750

7,100,000.00 09/28/2007

4.816

11/01/2007

31

2007-09-28CG

18733

Repurchase Agreements

Fair

3,600,000.00

4.750

3,600,000.00 09/28/2007

4.816

11/01/2007

31

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t Subtotal and Average Total and Average

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Book Value 17,900,000.00 122,960,258.58

Current Rate

Page 8

Market Value

Market Date

YTM/C Redemption Date 365

Call Date Collateral

17,900,000.00

4.816

31

121,816,040.69

4.786

295

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

85 Res Float/Equity Summary Investments by All Types Active Investments September 30, 2007 CUSIP

Investment #

Fund

Issuer

Par Value

Purchase Price

Book Value

Current Rate

Maturity Date

Call Date

Call Price

Federal Agency Coupon Securities Subtotal

89,879,000.00

90,060,258.58

Subtotal

32,900,000.00

32,900,000.00

Total

122,779,000.00

Repurchase Agreements

Data Updated: SET_85E2: 11/01/2007 15:53 Run Date: 11/01/2007 - 15:53

122,960,258.58

Portfolio TH08 AC AT (PRF_DT) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

85 Res Float/Equity Summary Interest Earnings Sorted by Fund - Fund July 1, 2007 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2000-1 DSE (6076007132) Subtotal

16,250,000.00

8,743,055.43

6,445,941.55

4.694

69,138.63

7,120.04

76,258.67

Subtotal

10,387,000.00

7,203,533.29

3,683,921.47

4.969

34,990.01

11,152.77

46,142.78

Subtotal

16,947,500.00

13,944,011.52

10,827,027.99

4.442

114,096.39

7,119.24

121,215.63

Subtotal

9,177,500.00

6,192,335.27

3,679,584.35

4.909

42,683.86

2,846.43

45,530.29

Subtotal

8,042,500.00

6,046,129.42

3,581,982.28

4.970

40,243.13

4,627.24

44,870.37

Subtotal

9,080,000.00

6,598,676.72

3,428,207.65

4.849

37,788.43

4,107.38

41,895.81

Subtotal

16,780,000.00

9,303,200.85

6,325,290.35

4.835

73,519.65

3,563.01

77,082.66

Subtotal

7,797,500.00

5,100,461.71

2,388,193.67

5.086

28,837.85

1,776.13

30,613.98

Subtotal

7,550,000.00

3,899,489.24

2,037,518.66

5.203

22,397.58

4,323.81

26,721.39

Subtotal

11,900,000.00

8,900,140.96

2,474,955.68

5.223

30,797.32

1,783.96

32,581.28

Fund: 2000-2 DSE (6076007196)

Fund: 2001-1 DS&E (6076007258)

Fund: 2001-2 DSE (6076007310)

Fund: 2001-3 DSE (6076007374)

Fund: 2002-1 DS&E (6076007436)

Fund: 2002-2 DS&E (6076007490)

Fund: 2003-1 DSE (6076008480)

Fund: 2003-2 DSE (6076009210)

Fund: 2003-3 DSE (6076009899)

Data Updated: SET_85E2: 11/01/2007 15:53 Run Date: 11/01/2007 - 15:53

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings July 1, 2007 - September 30, 2007

Page 2

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2004-1 DSE (6076010333) Subtotal

10,800,000.00

5,499,963.22

2,576,753.71

5.190

31,861.25

1,847.28

33,708.53

Subtotal

16,600,000.00

8,904,153.29

4,121,189.48

5.114

48,428.26

4,693.43

53,121.69

Subtotal

16,197,000.00

9,205,646.97

4,760,754.82

4.823

53,514.49

4,357.51

57,872.00

Subtotal

13,800,000.00

7,306,619.49

2,446,546.62

5.172

29,010.25

2,881.54

31,891.79

Subtotal

13,800,000.00

5,800,000.00

3,418,103.53

5.179

38,642.78

5,980.12

44,622.90

Subtotal

11,400,000.00

5,299,717.47

2,365,146.15

5.175

26,850.94

4,001.27

30,852.21

Subtotal

10,700,000.00

4,499,858.74

2,570,549.99

5.152

30,497.26

2,886.64

33,383.90

Subtotal

7,550,000.00

3,499,929.37

1,586,921.09

5.161

19,819.90

822.33

20,642.23

Subtotal

4,350,000.00

1,800,688.51

960,652.27

5.193

11,822.61

752.76

12,575.37

Subtotal

2,100,000.00

0.00

470,079.34

5.144

5,820.44

274.94

6,095.38

Subtotal

12,925,000.00

8,520,649.76

7,317,022.05

4.596

83,517.85

1,247.43

84,765.28

Subtotal

5,012,500.00

2,417,796.98

2,001,056.67

4.630

22,718.12

636.07

23,354.19

Subtotal

4,747,500.00

2,673,240.79

2,198,201.78

4.302

23,548.15

288.35

23,836.50

Fund: 2004-2 DS&E (6076010716)

Fund: 2004-3 DSE (6076011261)

Fund: 2005-1 DSE (6076011546)

Fund: 2005-2 DSE (6076011948)

Fund: 2006-1 DSE (6076012288)

Fund: 2006-2 DS&E (6076012340)

Fund: 2006-3 DSE (106597020)

Fund: 2007-1 DS&E (111459020)

Fund: 2007-2 DS&E (111459120)

Fund: 1985 A-L DSE (6076006017)

Fund: 1991 W/X DSE (6076006071)

Fund: 1995-1 DSE (6076006259)

Data Updated: SET_85E2: 11/01/2007 15:53 Run Date: 11/01/2007 - 15:53

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings July 1, 2007 - September 30, 2007

Page 3

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1996-1 DSE (6076006311) Subtotal

5,150,000.00

2,073,598.49

1,260,622.01

4.258

12,432.70

1,097.90

13,530.60

Subtotal

10,497,000.00

4,771,704.01

3,554,135.02

4.284

36,789.08

1,586.59

38,375.67

Subtotal

5,187,500.00

4,086,924.69

2,639,790.16

4.305

26,875.59

1,771.55

28,647.14

Subtotal

6,950,000.00

3,672,194.97

2,682,844.38

4.498

28,939.46

1,478.55

30,418.01

Subtotal

8,185,000.00

4,981,088.09

3,204,309.11

4.236

33,056.51

1,156.85

34,213.36

Subtotal

6,762,500.00

4,465,788.34

2,903,243.72

4.501

31,825.18

1,111.65

32,936.83

Subtotal

6,400,000.00

3,995,413.44

2,412,496.08

4.937

26,327.44

3,694.14

30,021.58

Subtotal

17,665,000.00

8,874,564.60

3,198,859.77

4.594

34,596.49

2,442.48

37,038.97

Subtotal

5,112,500.00

3,415,424.99

2,084,018.13

4.843

24,807.22

630.54

25,437.76

Subtotal

3,190,000.00

1,889,993.71

1,064,994.24

4.388

11,777.81

1.05

11,778.86

Subtotal

7,500,000.00

4,818,550.71

3,291,402.42

4.309

31,394.66

4,355.63

35,750.29

Subtotal

4,400,000.00

3,397,298.32

2,430,113.27

4.557

25,351.85

2,558.63

27,910.48

Subtotal

10,897,500.00

6,427,629.77

4,186,095.75

4.862

45,470.92

5,827.70

51,298.62

Fund: 1996-2 DSE (6076006375)

Fund: 1996-3 DSE (6076006428)

Fund: 1996-4 DSE (6076006464)

Fund: 1996-5 DSE (6076006525)

Fund: 1997-1 DSE (6076006589)

Fund: 1997-2 DSE (6076006641)

Fund: 1997-3 DSE (6076006712)

Fund: 1998-1 DSE (6076006776)

Fund: 1998-2 DSE (6076006838)

Fund: 1998-3 DSE (6076006892)

Fund: 1999-1 DSE (6076006954)

Fund: 1999-2 DSE (6076007016)

Data Updated: SET_85E2: 11/01/2007 15:53 Run Date: 11/01/2007 - 15:53

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings July 1, 2007 - September 30, 2007

Page 4

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1999-3 DSE (6076007070)

Data Updated: SET_85E2: 11/01/2007 15:53 Run Date: 11/01/2007 - 15:53

Subtotal

9,640,000.00

7,456,291.47

4,781,948.67

4.755

50,632.74

6,680.36

57,313.10

Total

351,431,000.00

205,685,764.60

121,360,473.91

4.754

1,340,822.80

113,483.30

1,454,306.10

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

85 Res Float/Equity Summary Interest Earnings Sorted by Fund - Fund October 1, 2006 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2000-1 DSE (6076007132) Subtotal

16,250,000.00

4,037,977.35

4,898,455.31

4.523

212,468.49

9,080.83

221,549.32

Subtotal

10,387,000.00

699,272.68

1,858,514.73

4.709

75,464.52

12,054.06

87,518.58

Subtotal

16,947,500.00

8,663,056.03

9,584,764.48

4.364

409,903.72

8,391.34

418,295.06

Subtotal

9,177,500.00

1,318,253.67

2,179,410.34

4.701

98,778.08

3,672.35

102,450.43

Subtotal

8,042,500.00

1,083,193.07

1,974,893.19

4.807

89,690.11

5,236.40

94,926.51

Subtotal

9,080,000.00

1,295,504.67

2,167,517.50

4.699

97,095.02

4,755.68

101,850.70

Subtotal

16,780,000.00

3,877,292.77

4,902,355.48

4.740

228,581.27

3,783.38

232,364.65

Subtotal

7,797,500.00

212,210.52

1,015,039.40

4.918

47,952.37

1,965.97

49,918.34

Subtotal

7,550,000.00

0.00

781,776.51

5.243

36,571.83

4,414.95

40,986.78

Subtotal

11,900,000.00

0.00

1,307,656.61

5.268

66,956.07

1,925.87

68,881.94

Fund: 2000-2 DSE (6076007196)

Fund: 2001-1 DS&E (6076007258)

Fund: 2001-2 DSE (6076007310)

Fund: 2001-3 DSE (6076007374)

Fund: 2002-1 DS&E (6076007436)

Fund: 2002-2 DS&E (6076007490)

Fund: 2003-1 DSE (6076008480)

Fund: 2003-2 DSE (6076009210)

Fund: 2003-3 DSE (6076009899)

Data Updated: SET_85E2: 11/01/2007 16:01 Run Date: 11/01/2007 - 16:01

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings October 1, 2006 - September 30, 2007

Page 2

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2004-1 DSE (6076010333) Subtotal

10,800,000.00

0.00

1,083,181.66

5.234

54,793.33

1,897.25

56,690.58

Subtotal

16,600,000.00

199,307.56

1,845,441.36

5.103

88,778.92

5,388.70

94,167.62

Subtotal

16,197,000.00

1,374,890.92

2,870,514.11

4.655

128,733.09

4,879.24

133,612.33

Subtotal

13,800,000.00

0.00

1,647,445.00

5.223

56,759.91

29,287.03

86,046.94

Subtotal

13,800,000.00

0.00

1,237,987.74

5.220

58,642.11

5,980.12

64,622.23

Subtotal

11,400,000.00

0.00

1,502,974.40

5.210

39,811.36

38,500.41

78,311.77

Subtotal

10,700,000.00

0.00

1,234,621.11

5.199

44,056.93

20,136.21

64,193.14

Subtotal

7,550,000.00

0.00

821,013.13

5.216

33,380.40

9,447.12

42,827.52

Subtotal

4,350,000.00

0.00

365,156.37

5.234

18,357.61

753.56

19,111.17

Subtotal

2,100,000.00

0.00

118,485.75

5.144

5,820.44

274.94

6,095.38

Subtotal

12,925,000.00

8,020,062.58

7,851,297.16

4.431

346,060.77

1,834.61

347,895.38

Subtotal

5,012,500.00

1,636,400.03

1,736,673.37

4.568

78,553.27

783.02

79,336.29

Subtotal

4,747,500.00

2,159,245.43

2,185,701.06

4.281

93,043.12

533.71

93,576.83

Fund: 2004-2 DS&E (6076010716)

Fund: 2004-3 DSE (6076011261)

Fund: 2005-1 DSE (6076011546)

Fund: 2005-2 DSE (6076011948)

Fund: 2006-1 DSE (6076012288)

Fund: 2006-2 DS&E (6076012340)

Fund: 2006-3 DSE (106597020)

Fund: 2007-1 DS&E (111459020)

Fund: 2007-2 DS&E (111459120)

Fund: 1985 A-L DSE (6076006017)

Fund: 1991 W/X DSE (6076006071)

Fund: 1995-1 DSE (6076006259)

Data Updated: SET_85E2: 11/01/2007 16:01 Run Date: 11/01/2007 - 16:01

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings October 1, 2006 - September 30, 2007

Page 3

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1996-1 DSE (6076006311) Subtotal

5,350,000.00

848,312.38

1,088,375.07

4.041

41,277.37

2,700.61

43,977.98

Subtotal

10,497,000.00

3,046,205.26

3,305,377.27

4.222

137,477.78

2,085.34

139,563.12

Subtotal

5,187,500.00

2,206,224.71

2,481,041.53

4.277

103,406.11

2,718.73

106,124.84

Subtotal

6,950,000.00

2,248,275.83

2,429,910.19

4.423

105,576.07

1,894.89

107,470.96

Subtotal

8,185,000.00

2,487,706.78

2,928,091.73

4.186

120,530.10

2,038.16

122,568.26

Subtotal

6,762,500.00

2,385,094.55

2,650,119.99

4.353

113,813.41

1,553.58

115,366.99

Subtotal

6,400,000.00

1,397,401.31

1,818,470.52

4.888

84,689.72

4,201.61

88,891.33

Subtotal

17,665,000.00

2,213,517.14

2,759,854.75

4.440

119,692.49

2,851.04

122,543.53

Subtotal

5,112,500.00

1,534,128.09

1,841,125.87

4.827

87,955.33

918.20

88,873.53

Subtotal

3,190,000.00

789,990.56

939,033.77

4.325

40,611.06

4.20

40,615.26

Subtotal

7,500,000.00

1,995,398.90

2,537,534.83

4.029

96,996.14

5,243.54

102,239.68

Subtotal

4,400,000.00

1,799,396.94

2,050,389.52

4.470

88,689.13

2,955.35

91,644.48

Subtotal

10,897,500.00

2,217,365.91

2,988,880.20

4.725

134,170.67

7,050.84

141,221.51

Fund: 1996-2 DSE (6076006375)

Fund: 1996-3 DSE (6076006428)

Fund: 1996-4 DSE (6076006464)

Fund: 1996-5 DSE (6076006525)

Fund: 1997-1 DSE (6076006589)

Fund: 1997-2 DSE (6076006641)

Fund: 1997-3 DSE (6076006712)

Fund: 1998-1 DSE (6076006776)

Fund: 1998-2 DSE (6076006838)

Fund: 1998-3 DSE (6076006892)

Fund: 1999-1 DSE (6076006954)

Fund: 1999-2 DSE (6076007016)

Data Updated: SET_85E2: 11/01/2007 16:01 Run Date: 11/01/2007 - 16:01

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings October 1, 2006 - September 30, 2007

Page 4

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1999-3 DSE (6076007070)

Data Updated: SET_85E2: 11/01/2007 16:01 Run Date: 11/01/2007 - 16:01

Subtotal

9,640,000.00

3,038,452.03

3,808,033.03

4.647

169,525.89

7,450.90

176,976.79

Total

351,631,000.00

62,784,137.67

88,797,114.02

4.587

3,854,664.01

218,643.74

4,073,307.75

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

85 Res Float/Equity Summary Interest Earnings Sorted by Fund - Fund October 1, 2005 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2000-1 DSE (6076007132) Subtotal

16,250,000.00

3,787,617.35

4,375,681.28

4.444

378,374.74

10,566.45

388,941.19

Subtotal

10,387,000.00

947,053.87

1,286,701.84

4.399

100,998.01

12,211.58

113,209.59

Subtotal

16,947,500.00

8,686,812.78

9,131,289.07

4.315

778,357.59

9,634.59

787,992.18

Subtotal

9,177,500.00

1,342,691.49

1,756,380.39

4.549

155,569.95

4,234.53

159,804.48

Subtotal

8,292,500.00

1,360,255.98

1,582,285.87

4.618

140,519.48

5,609.04

146,128.52

Subtotal

9,080,000.00

1,495,058.56

1,768,387.93

4.544

155,535.02

5,182.77

160,717.79

Subtotal

16,780,000.00

2,977,000.01

4,151,353.69

4.637

380,925.45

4,076.14

385,001.59

Subtotal

7,797,500.00

227,145.55

618,221.80

4.676

55,787.49

2,030.94

57,818.43

Subtotal

7,550,000.00

0.00

390,888.25

5.243

36,571.83

4,414.95

40,986.78

Subtotal

11,900,000.00

0.00

653,828.30

5.268

66,956.07

1,925.87

68,881.94

Fund: 2000-2 DSE (6076007196)

Fund: 2001-1 DS&E (6076007258)

Fund: 2001-2 DSE (6076007310)

Fund: 2001-3 DSE (6076007374)

Fund: 2002-1 DS&E (6076007436)

Fund: 2002-2 DS&E (6076007490)

Fund: 2003-1 DSE (6076008480)

Fund: 2003-2 DSE (6076009210)

Fund: 2003-3 DSE (6076009899)

Data Updated: SET_85E2: 11/01/2007 16:07 Run Date: 11/01/2007 - 16:07

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings October 1, 2005 - September 30, 2007

Page 2

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2004-1 DSE (6076010333) Subtotal

10,800,000.00

0.00

541,590.83

5.234

54,793.33

1,897.25

56,690.58

Subtotal

16,600,000.00

0.00

984,955.15

5.040

93,801.14

5,486.26

99,287.40

Subtotal

16,197,000.00

1,384,851.18

2,125,767.96

4.453

184,389.84

4,918.98

189,308.82

Subtotal

13,800,000.00

0.00

823,722.50

5.223

56,759.91

29,287.03

86,046.94

Subtotal

13,800,000.00

0.00

618,993.87

5.220

58,642.11

5,980.12

64,622.23

Subtotal

11,400,000.00

0.00

751,487.20

5.210

39,811.36

38,500.41

78,311.77

Subtotal

10,700,000.00

0.00

617,310.55

5.199

44,056.93

20,136.21

64,193.14

Subtotal

7,550,000.00

0.00

410,506.57

5.216

33,380.40

9,447.12

42,827.52

Subtotal

4,350,000.00

0.00

182,578.18

5.234

18,357.61

753.56

19,111.17

Subtotal

2,100,000.00

0.00

59,242.88

5.144

5,820.44

274.94

6,095.38

Subtotal

12,925,000.00

7,794,655.20

7,893,845.32

4.398

691,795.14

2,607.26

694,402.40

Subtotal

5,012,500.00

312,145.55

1,362,427.95

4.478

121,076.91

930.29

122,007.20

Subtotal

4,747,500.00

1,574,708.17

2,034,850.13

4.166

168,703.40

838.11

169,541.51

Fund: 2004-2 DS&E (6076010716)

Fund: 2004-3 DSE (6076011261)

Fund: 2005-1 DSE (6076011546)

Fund: 2005-2 DSE (6076011948)

Fund: 2006-1 DSE (6076012288)

Fund: 2006-2 DS&E (6076012340)

Fund: 2006-3 DSE (106597020)

Fund: 2007-1 DS&E (111459020)

Fund: 2007-2 DS&E (111459120)

Fund: 1985 A-L DSE (6076006017)

Fund: 1991 W/X DSE (6076006071)

Fund: 1995-1 DSE (6076006259)

Data Updated: SET_85E2: 11/01/2007 16:07 Run Date: 11/01/2007 - 16:07

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings October 1, 2005 - September 30, 2007

Page 3

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1996-1 DSE (6076006311) Subtotal

5,350,000.00

549,626.63

921,638.20

3.764

66,407.38

2,966.38

69,373.76

Subtotal

10,497,000.00

2,945,540.25

3,130,109.28

4.129

255,744.19

2,750.35

258,494.54

Subtotal

5,187,500.00

2,230,209.16

2,351,068.62

4.213

194,347.98

3,734.28

198,082.26

Subtotal

6,950,000.00

1,848,363.00

2,274,579.61

4.323

194,451.95

2,191.29

196,643.24

Subtotal

8,185,000.00

2,047,519.04

2,590,725.86

4.064

207,380.53

3,184.82

210,565.35

Subtotal

6,762,500.00

2,508,961.30

2,525,762.23

4.266

213,485.97

2,026.29

215,512.26

Subtotal

6,400,000.00

1,397,136.89

1,607,870.09

4.840

151,189.72

4,466.03

155,655.75

Subtotal

17,665,000.00

2,263,433.19

2,502,041.75

4.319

213,197.24

2,934.99

216,132.23

Subtotal

5,112,500.00

1,558,793.17

1,695,231.95

4.775

160,647.20

1,253.12

161,900.32

Subtotal

3,190,000.00

489,986.36

808,848.57

4.216

68,198.98

8.40

68,207.38

Subtotal

7,500,000.00

2,094,675.82

2,294,437.51

3.838

170,166.71

5,966.62

176,133.33

Subtotal

4,400,000.00

1,799,280.18

1,924,864.16

4.418

167,014.13

3,072.11

170,086.24

Subtotal

10,897,500.00

2,991,155.46

2,759,303.24

4.602

246,204.71

7,761.44

253,966.15

Fund: 1996-2 DSE (6076006375)

Fund: 1996-3 DSE (6076006428)

Fund: 1996-4 DSE (6076006464)

Fund: 1996-5 DSE (6076006525)

Fund: 1997-1 DSE (6076006589)

Fund: 1997-2 DSE (6076006641)

Fund: 1997-3 DSE (6076006712)

Fund: 1998-1 DSE (6076006776)

Fund: 1998-2 DSE (6076006838)

Fund: 1998-3 DSE (6076006892)

Fund: 1999-1 DSE (6076006954)

Fund: 1999-2 DSE (6076007016)

Data Updated: SET_85E2: 11/01/2007 16:07 Run Date: 11/01/2007 - 16:07

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

85 Res Float/Equity Summary Interest Earnings October 1, 2005 - September 30, 2007

Page 4

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1999-3 DSE (6076007070)

Data Updated: SET_85E2: 11/01/2007 16:07 Run Date: 11/01/2007 - 16:07

Subtotal

9,640,000.00

3,138,325.24

3,451,361.65

4.544

306,082.46

7,577.69

313,660.15

Total

351,881,000.00

59,753,001.38

74,960,140.23

4.447

6,435,503.30

230,838.21

6,666,341.51

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Resolution Float/Equity Purchases Report Sorted by Source - Purchase Date July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Sec. Type Issuer

850212 850222 850312 850332 850422 850432 850412 850522 850212 850222 850322 850422 850522 850612 850622 850632 850412 850522 850612 850622 850632 850712 850022 850112 850012 850112 850322 850422 850432 850522 850612 850622 8585R2 8591W2

FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC MC3 MC3

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 800,000.00 300,000.00 500,000.00 500,000.00 500,000.00 600,000.00 250,000.00 250,000.00 500,000.00 500,000.00 300,000.00 300,000.00 400,000.00 500,000.00 600,000.00 1,600,000.00 800,000.00 500,000.00 500,000.00 500,000.00

07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/02/2007 01/02 - Final Pmt. 07/06/2007 09/14 - Final Pmt. 07/06/2007 09/14 - Final Pmt. 07/06/2007 09/14 - Final Pmt. 07/06/2007 09/14 - Final Pmt. 07/06/2007 09/14 - Final Pmt. 07/06/2007 09/14 - Final Pmt. 07/09/2007 11/02 - Final Pmt. 07/09/2007 11/02 - Final Pmt. 07/10/2007 09/15 - Final Pmt. 07/10/2007 09/15 - Final Pmt. 07/10/2007 09/15 - Final Pmt. 07/10/2007 09/15 - Final Pmt. 07/10/2007 09/15 - Final Pmt. 07/10/2007 09/15 - Final Pmt. 07/10/2007 09/15 - Final Pmt. 07/10/2007 09/15 - Final Pmt. 07/10/2007 07/18 - At Maturity 07/10/2007 07/18 - At Maturity

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 800,000.00 300,000.00 499,642.39 499,642.39 499,642.39 599,570.86 249,821.19 249,821.19 496,785.00 496,785.00 298,948.38 298,948.38 398,597.84 498,247.30 597,896.76 1,594,391.36 797,195.68 498,247.30 500,000.00 500,000.00

5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.000 5.000 5.000 5.000 5.000 5.000 3.250 3.250 3.500 3.500 3.500 3.500 3.500 3.500 3.500 3.500 5.230 5.230

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Purchased from: External Transaction 3133XLLA9 3133XLLA9 3133XLLA9 3133XLLA9 3133XLLA9 3133XLLA9 3133XLLA9 3133XLLA9 3136F8PZ2 3136F8PZ2 3136F8PZ2 3136F8PZ2 3136F8PZ2 3136F8PZ2 3136F8PZ2 3136F8PZ2 31359MJ87 31359MJ87 31359MJ87 31359MJ87 31359MJ87 31359MJ87 3128X3H55 3128X3H55 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 2007-07-10MS 2007-07-10MS

18489 18490 18491 18493 18494 18495 18496 18497 18498 18499 18500 18502 18503 18504 18505 18506 18511 18512 18513 18514 18515 18516 18517 18518 18531 18532 18533 18534 18535 18536 18537 18538 18521 18522

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC MSDW MSDW

Sold Sold Sold Sold Sold Sold 3,024.31 3,024.30 Sold Sold Sold Sold Sold Sold Sold Sold

01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 01/02/2008 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 11/02/2007 11/02/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 07/18/2007 07/18/2007

5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.300 5.300 5.300 5.300 5.300 5.300 5.301 5.301 5.400 5.400 5.400 5.400 5.400 5.400 5.400 5.400 5.303 5.303

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 800,000.00 300,000.00 0.00 0.00 0.00 0.00 0.00 0.00 502,142.32 502,142.31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Purchases Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

859612 859722 859832 859922 850132 859512 859612 859622 859642 850022 850512 850612 850622 850632 850712 850722 859722 859832 859922 859932 850012 850122 850132 850212 850222 850432 859652 859712 859812 859822 859832 859922 859932 850112 850122 850222 850312 850332

MC3 MC3 MC3 MC3 MC3 FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

Page 2

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 100,000.00 100,000.00 300,000.00 100,000.00 300,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 100,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 700,000.00 800,000.00 700,000.00 500,000.00 700,000.00 1,000,000.00 500,000.00 800,000.00 1,200,000.00 1,000,000.00 900,000.00 900,000.00

07/10/2007 07/18 - At Maturity 07/10/2007 07/18 - At Maturity 07/10/2007 07/18 - At Maturity 07/10/2007 07/18 - At Maturity 07/10/2007 07/18 - At Maturity 07/13/2007 09/04 - 09/12 07/13/2007 09/04 - 09/12 07/13/2007 09/04 - 09/12 07/13/2007 09/04 - 09/12 07/13/2007 09/04 - 12/04 07/13/2007 09/04 - 12/04 07/13/2007 09/04 - 12/04 07/13/2007 09/04 - 12/04 07/13/2007 09/04 - 12/04 07/13/2007 09/04 - 12/04 07/13/2007 09/04 - 12/04 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/13/2007 10/15 - Final Pmt. 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 99,503.00 99,503.00 298,509.00 99,503.00 298,509.00 199,006.00 199,006.00 199,006.00 199,006.00 199,006.00 99,503.00 498,580.97 498,580.97 498,580.97 498,580.97 498,580.97 498,580.97 498,580.97 498,580.97 498,580.97 498,580.97 700,000.00 800,000.00 700,000.00 500,000.00 700,000.00 1,000,000.00 500,000.00 800,000.00 1,200,000.00 1,000,000.00 900,000.00 900,000.00

5.230 5.230 5.230 5.230 5.230 4.000 4.000 4.000 4.000 4.000 4.000 4.000 4.000 4.000 4.000 4.000 3.650 3.650 3.650 3.650 3.650 3.650 3.650 3.650 3.650 3.650 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Purchased from: External Transaction 2007-07-10MS 2007-07-10MS 2007-07-10MS 2007-07-10MS 2007-07-10MS 3133XAPC5 3133XAPC5 3133XAPC5 3133XAPC5 3133XAPC5 3133XAPC5 3133XAPC5 3133XAPC5 3133XAPC5 3133XAPC5 3133XAPC5 3133X5ER5 3133X5ER5 3133X5ER5 3133X5ER5 3133X5ER5 3133X5ER5 3133X5ER5 3133X5ER5 3133X5ER5 3133X5ER5 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS

18523 18524 18525 18526 18527 18540 18541 18542 18543 18544 18545 18546 18547 18548 18549 18550 18587 18588 18589 18590 18591 18592 18593 18594 18595 18596 18597 18598 18599 18600 18601 18602 18603 18604 18605 18606 18607 18608

MSDW MSDW MSDW MSDW MSDW FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB PW PW PW PW PW PW PW PW PW PW PW PW

Sold Sold Sold Sold Received Received Received Received Received Received Received 5,981.94 5,981.94 5,981.94 5,981.94 5,981.94 5,981.94 5,981.94 5,981.94 5,981.94 5,981.98

07/18/2007 07/18/2007 07/18/2007 07/18/2007 07/18/2007 12/04/2007 12/04/2007 12/04/2007 12/04/2007 12/04/2007 12/04/2007 12/04/2007 12/04/2007 12/04/2007 12/04/2007 12/04/2007 10/15/2007 10/15/2007 10/15/2007 10/15/2007 10/15/2007 10/15/2007 10/15/2007 10/15/2007 10/15/2007 10/15/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007

5.303 5.303 5.303 5.303 5.303 5.302 5.302 5.302 5.302 5.302 5.302 5.302 5.302 5.302 5.302 5.302 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.272 5.272 5.272 5.272 5.272 5.272 5.272 5.272 5.272 5.272 5.272 5.272

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 299,333.81 199,555.87 199,555.87 199,555.87 199,555.87 199,555.87 99,777.94 505,661.51 505,661.51 505,661.51 505,661.51 505,661.51 505,661.51 505,661.51 505,661.51 505,661.51 505,661.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Received = Accrued Interest at Purchase was received by report ending date.

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Purchases Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

850422 850432 850512 850522 850612 850622 850632 850712 850722 850322 8585R2 8591W2 850132 850212 850222 850322 850412 8585R2 859632 859642 859722 859732 859912 850012 850022 850512 850422 850432 850512 850522 850612 850622 850632 8591W2 859622 859652 850212 8585R2

MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 FAC FAC FAC FAC FAC FAC FAC FAC MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC MC3

Page 3

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

1,500,000.00 1,800,000.00 1,700,000.00 1,300,000.00 1,000,000.00 900,000.00 900,000.00 600,000.00 600,000.00 250,000.00 2,000,000.00 1,000,000.00 1,000,000.00 600,000.00 400,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 400,000.00 500,000.00 100,000.00 400,000.00 200,000.00 300,000.00 100,000.00 200,000.00 300,000.00 200,000.00 380,000.00 1,400,000.00

08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/15/2007 09/10 - At Maturity 08/17/2007 12/10 - Final Pmt. 08/27/2007 10/05 - Final Pmt. 08/27/2007 10/05 - Final Pmt. 08/27/2007 10/05 - Final Pmt. 08/27/2007 10/05 - Final Pmt. 08/27/2007 10/05 - Final Pmt. 08/27/2007 10/05 - Final Pmt. 08/27/2007 10/05 - Final Pmt. 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/29/2007 09/06 - At Maturity 08/30/2007 11/05 - Final Pmt. 08/30/2007 11/05 - Final Pmt. 08/30/2007 11/05 - Final Pmt. 08/30/2007 11/12 - 05/12 08/30/2007 11/12 - 05/12 08/30/2007 11/12 - 05/12 08/30/2007 11/12 - 05/12 09/04/2007 09/15 - Final Pmt. 09/04/2007 09/15 - Final Pmt. 09/04/2007 09/15 - Final Pmt. 09/04/2007 09/15 - Final Pmt. 09/14/2007 09/28 - At Maturity

1,500,000.00 1,800,000.00 1,700,000.00 1,300,000.00 1,000,000.00 900,000.00 900,000.00 600,000.00 600,000.00 248,760.00 1,998,807.22 999,403.61 999,403.61 599,642.17 399,761.45 499,701.81 499,701.81 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 399,021.56 498,776.95 99,755.40 398,920.56 199,460.28 299,190.42 99,730.15 199,941.93 299,912.90 199,941.93 379,889.67 1,400,000.00

5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 3.700 4.625 4.625 4.625 4.625 4.625 4.625 4.625 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 4.000 4.000 4.000 4.000 4.000 4.000 4.000 4.250 4.250 4.250 4.250 4.960

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Purchased from: External Transaction 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 3133X2K53 3128X4RF0 3128X4RF0 3128X4RF0 3128X4RF0 3128X4RF0 3128X4RF0 3128X4RF0 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 3133X6E77 3133X6E77 3133X6E77 3133X6KS4 3133X6KS4 3133X6KS4 3133X6KS4 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 2007-09-14UBS

18609 18610 18611 18612 18613 18614 18615 18616 18617 18619 18627 18628 18629 18630 18631 18632 18633 18637 18638 18639 18640 18641 18642 18643 18644 18646 18648 18649 18650 18651 18652 18653 18654 18655 18656 18657 18658 18672

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

PW PW PW PW PW PW PW PW PW FHLB FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC BA BA BA BA BA BA BA BA BA FHLB FHLB FHLB FHLB FHLB FHLB FHLB FNMA FNMA FNMA FNMA PW

1,695.83 36,486.11 18,243.06 18,243.06 10,945.83 7,297.22 9,121.53 9,121.52

5,111.11 6,388.89 1,277.78 4,800.00 2,400.00 3,600.00 1,200.00 Sold Sold Sold Sold

09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 12/10/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 11/05/2007 11/05/2007 11/05/2007 11/12/2007 11/12/2007 11/12/2007 11/12/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/28/2007

5.272 5.272 5.272 5.272 5.272 5.272 5.272 5.272 5.272 5.100 5.100 5.100 5.100 5.100 5.100 5.100 5.323 5.323 5.323 5.323 5.323 5.323 5.323 5.323 5.323 5.300

5.300

5.100 5.100 5.100 5.100 5.029

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 250,938.66 2,036,360.55 1,018,180.28 1,018,180.28 610,908.16 407,272.11 509,090.14 509,090.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 404,145.28 505,181.60 101,036.33 403,734.43 201,867.22 302,800.83 100,933.62 0.00 0.00 0.00 0.00 0.00

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Purchases Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

8591W2 859512 859612 859622 859632 859642 859652 859712 859722 859732 859812 859822 859832 859912 859922 859932 850012 850022 850112 850212 850222 850312 850332 850422 850432 850512 850522 850612 850622 850632 850712 850722 859652 859922 850022 850222 850322 850412

MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

Page 4

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

900,000.00 800,000.00 500,000.00 1,700,000.00 600,000.00 1,200,000.00 1,100,000.00 1,500,000.00 900,000.00 1,200,000.00 1,000,000.00 800,000.00 1,000,000.00 500,000.00 1,500,000.00 1,200,000.00 2,100,000.00 900,000.00 1,400,000.00 400,000.00 1,800,000.00 1,300,000.00 1,600,000.00 2,000,000.00 2,500,000.00 3,500,000.00 1,000,000.00 1,400,000.00 1,400,000.00 1,400,000.00 900,000.00 1,400,000.00 700,000.00 500,000.00 500,000.00 1,000,000.00 1,500,000.00 2,400,000.00

09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/14/2007 09/28 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity

900,000.00 800,000.00 500,000.00 1,700,000.00 600,000.00 1,200,000.00 1,100,000.00 1,500,000.00 900,000.00 1,200,000.00 1,000,000.00 800,000.00 1,000,000.00 500,000.00 1,500,000.00 1,200,000.00 2,100,000.00 900,000.00 1,400,000.00 400,000.00 1,800,000.00 1,300,000.00 1,600,000.00 2,000,000.00 2,500,000.00 3,500,000.00 1,000,000.00 1,400,000.00 1,400,000.00 1,400,000.00 900,000.00 1,400,000.00 700,000.00 500,000.00 500,000.00 1,000,000.00 1,500,000.00 2,400,000.00

4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.900 4.900 4.900 4.900 4.900 4.900

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Purchased from: External Transaction 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-25MS

18674 18675 18676 18677 18678 18679 18680 18681 18682 18683 18684 18685 18686 18687 18688 18689 18690 18691 18692 18693 18694 18695 18697 18698 18699 18700 18701 18702 18703 18704 18705 18706 18710 18711 18712 18713 18714 18717

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW MSDW MSDW MSDW MSDW MSDW MSDW

09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007

5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 5.029 4.968 4.968 4.968 4.968 4.968 4.968

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 700,000.00 500,000.00 500,000.00 1,000,000.00 1,500,000.00 2,400,000.00

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Purchases Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

850422 850432 850512 850522 850612 850622 850632 850712 859512 859612 859622 859642 859732 850012

MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

Page 5

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

1,500,000.00 600,000.00 500,000.00 2,200,000.00 1,500,000.00 1,400,000.00 300,000.00 400,000.00 1,200,000.00 1,500,000.00 3,000,000.00 1,500,000.00 7,100,000.00 3,600,000.00

09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/25/2007 10/05 - At Maturity 09/28/2007 11/01 - At Maturity 09/28/2007 11/01 - At Maturity 09/28/2007 11/01 - At Maturity 09/28/2007 11/01 - At Maturity 09/28/2007 11/01 - At Maturity 09/28/2007 11/01 - At Maturity

1,500,000.00 600,000.00 500,000.00 2,200,000.00 1,500,000.00 1,400,000.00 300,000.00 400,000.00 1,200,000.00 1,500,000.00 3,000,000.00 1,500,000.00 7,100,000.00 3,600,000.00

4.900 4.900 4.900 4.900 4.900 4.900 4.900 4.900 4.750 4.750 4.750 4.750 4.750 4.750

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Purchased from: External Transaction 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-25MS 2007-09-28CG 2007-09-28CG 2007-09-28CG 2007-09-28CG 2007-09-28CG 2007-09-28CG

18718 18719 18720 18721 18722 18723 18724 18725 18728 18729 18730 18731 18732 18733

MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW SB SB SB SB SB SB Subtotal

136,730,000.00

136,669,776.54

201,799.99

499,195.00 446,280.33 499,195.00 499,195.00 499,195.00 499,195.00 499,195.00 499,195.00 598,314.00 698,502.00 1,295,528.00 200,000.00

Sold Sold Sold Sold Sold Sold Sold Sold 533.34 8,656.66 13,731.25 2,887.50

6,732,989.33

25,808.75

99,993.00 399,540.00 599,958.00 999,630.00 599,778.00 199,770.00

933.33 Sold 5,600.00 Sold Sold Sold

10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 10/05/2007 11/01/2007 11/01/2007 11/01/2007 11/01/2007 11/01/2007 11/01/2007

4.968 4.968 4.968 4.968 4.968 4.968 4.968 4.968 4.816 4.816 4.816 4.816 4.816 4.816

1,500,000.00 600,000.00 500,000.00 2,200,000.00 1,500,000.00 1,400,000.00 300,000.00 400,000.00 1,200,000.00 1,500,000.00 3,000,000.00 1,500,000.00 7,100,000.00 3,600,000.00 56,837,510.49

Purchased from: 1985 Bond Resolution 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 3133XAPC5 3128X4BB6 31359MPZ0 31359MP56

18558 18559 18560 18561 18562 18563 18564 18565 18663 18665 18664 18666

859612 859622 859652 859922 850012 850022 850222 850322 850122 850122 850222 850712

FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC

FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FHLB FHLMC FNMA FNMA Subtotal

500,000.00 447,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 600,000.00 700,000.00 1,300,000.00 200,000.00

07/23/2007 09/15 - Final Pmt. 07/23/2007 09/15 - Final Pmt. 07/23/2007 09/15 - Final Pmt. 07/23/2007 09/15 - Final Pmt. 07/23/2007 09/15 - Final Pmt. 07/23/2007 09/15 - Final Pmt. 07/23/2007 09/15 - Final Pmt. 07/23/2007 09/15 - Final Pmt. 09/12/2007 12/04 - Final Pmt. 09/12/2007 11/26 - Final Pmt. 09/12/2007 11/15 - Final Pmt. 09/12/2007 12/03 - Final Pmt.

6,747,000.00

4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.000 4.200 3.250 5.250

09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 12/04/2007 11/26/2007 11/15/2007 12/03/2007

5.293 5.293 5.293 5.293 5.293 5.293 5.293 5.293 5.192 5.188 5.179 5.175

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 599,238.00 707,543.28 1,310,607.95 202,887.50 2,820,276.73

Purchased from: 1974 Bond Resolution 31359MP56 31359MYZ0 31359MP56 31359MJ87 31359MJ87 31359MYZ0

18573 18574 18575 18576 18577 18578

850622 850412 850632 850412 850422 850422

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

FAC FAC FAC FAC FAC FAC

FNMA FNMA FNMA FNMA FNMA FNMA

100,000.00 400,000.00 600,000.00 1,000,000.00 600,000.00 200,000.00

08/07/2007 12/03 - Final Pmt. 08/07/2007 09/15 - Final Pmt. 08/07/2007 12/03 - Final Pmt. 08/07/2007 09/14 - Final Pmt. 08/07/2007 09/14 - Final Pmt. 08/07/2007 09/15 - Final Pmt.

5.250 4.250 5.250 5.000 5.000 4.250

12/03/2007 09/15/2007 12/03/2007 09/14/2007 09/14/2007 09/15/2007

5.223 5.257 5.223 5.258 5.258 5.257

100,929.59 0.00 605,577.55 0.00 0.00 0.00

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Purchases Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Sec. Type Issuer

Original Par Value

Purchase Date Payment Periods

Page 6

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

Subtotal

2,900,000.00

2,898,669.00

6,533.33

706,507.14

Total Purchases

146,377,000.00

146,301,434.87

234,142.07

60,364,294.36

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Resolution Float/Equity Sales/Call Report Sorted by Source - Security ID July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

Net Income

Sold By: External Transaction 3128X2R56

15411

859732

FHLMC FAC

06/14/2004 09/26/2007 03/29/2019

500,000.00

4.000 V

498,273.42

495,625.00

9,833.33

505,458.33 Sale

7,184.91

3128X2R56

15412

850112

FHLMC FAC

06/14/2004 09/26/2007 03/29/2019

500,000.00

4.000 V

498,273.42

495,625.00

9,833.33

505,458.33 Sale

7,184.91

3128X2R56

15415

850212

FHLMC FAC

06/14/2004 09/26/2007 03/29/2019

400,000.00

4.000 V

398,618.73

396,500.00

7,866.67

404,366.67 Sale

5,747.94

3128X2R56

16805

8585R2

FHLMC FAC

02/14/2006 09/26/2007 03/29/2019

100,000.00

4.000 V

99,679.72

99,125.00

1,966.67

101,091.67 Sale

1,411.95

31331QZ67

14177

859622

FFCB FAC

07/08/2003 09/14/2007 07/08/2015

1,000,000.00

4.900

999,185.76

962,500.00

8,983.33

971,483.33 Sale

-27,702.43

31331QZ67

14725

850222

FFCB FAC

10/31/2003 09/14/2007 07/08/2015

300,000.00

4.900

300,000.00

288,750.00

2,695.00

291,445.00 Sale

-8,555.00

31331QZ67

14945

859642

FFCB FAC

12/19/2003 09/14/2007 07/08/2015

300,000.00

4.900

300,000.00

288,750.00

2,695.00

291,445.00 Sale

-8,555.00

31331QZ67

14973

859622

FFCB FAC

12/23/2003 09/14/2007 07/08/2015

200,000.00

4.900

200,000.00

192,500.00

1,796.67

194,296.67 Sale

-5,703.33

31331QZ67

14984

859832

FFCB FAC

12/31/2003 09/14/2007 07/08/2015

50,000.00

4.900

50,000.00

48,125.00

449.17

48,574.17 Sale

-1,425.83

31331QZ67

16804

8585R2

FFCB FAC

02/14/2006 09/14/2007 07/08/2015

125,000.00

4.900

125,000.00

120,312.50

1,122.92

121,435.42 Sale

-3,564.58

31339YH62

14289

859712

FHLB FAC

07/23/2003 09/26/2007 07/23/2013

500,000.00

5.000 V

498,634.77

497,343.75

4,375.00

501,718.75 Sale

3,083.98

31339YH62

14290

859732

FHLB FAC

07/23/2003 09/26/2007 07/23/2013

500,000.00

5.000 V

498,634.77

497,343.75

4,375.00

501,718.75 Sale

3,083.98

31339YH62

14291

850012

FHLB FAC

07/23/2003 09/26/2007 07/23/2013

500,000.00

5.000 V

498,634.77

497,343.75

4,375.00

501,718.75 Sale

3,083.98

31339YH62

14940

8585R2

FHLB FAC

12/18/2003 09/26/2007 07/23/2013

1,000,000.00

5.000 V

997,270.20

994,687.50

8,750.00

1,003,437.50 Sale

6,167.30

31339YQ47

14458

8585R2

FHLB FAC

09/03/2003 09/26/2007 07/30/2010

500,000.00

4.100

499,919.40

489,375.00

3,188.89

492,563.89 Sale

-7,355.51

31339YQ47

14467

850112

FHLB FAC

09/03/2003 09/26/2007 07/30/2010

1,000,000.00

4.100

999,838.80

978,750.00

6,377.78

985,127.78 Sale

-14,711.02

31339YRU8

14939

8585R2

FHLB FAC

12/18/2003 09/21/2007 07/23/2013

1,000,000.00

4.800

1,000,000.00

975,000.00

7,733.33

982,733.33 Sale

-17,266.67

3133F1CV7

15328

8585R2

FHLMC FAC

05/28/2004 09/21/2007 03/15/2011

100,000.00

4.000

99,773.69

97,156.25

66.67

97,222.92 Sale

-2,550.77

V - Security with variable rate change.

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Sales/Call Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

Rate at Redem.

Page 2

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

Net Income

Sold By: External Transaction 3133F1CV7

15329

8591W2

FHLMC FAC

05/28/2004 09/21/2007 03/15/2011

100,000.00

4.000

99,773.69

97,156.25

66.67

97,222.92 Sale

-2,550.77

3133F1CV7

15330

859612

FHLMC FAC

05/28/2004 09/21/2007 03/15/2011

100,000.00

4.000

99,773.69

97,156.25

66.67

97,222.92 Sale

-2,550.77

3133F1CV7

15332

859622

FHLMC FAC

05/28/2004 09/21/2007 03/15/2011

300,000.00

4.000

299,321.06

291,468.75

200.00

291,668.75 Sale

-7,652.31

3133F1CV7

15333

859642

FHLMC FAC

05/28/2004 09/21/2007 03/15/2011

200,000.00

4.000

199,547.37

194,312.50

133.33

194,445.83 Sale

-5,101.54

3133F1CV7

15345

8585R2

FHLMC FAC

06/04/2004 09/21/2007 03/15/2011

250,000.00

4.000

249,563.47

242,890.63

166.66

243,057.29 Sale

-6,506.18

3133F1CV7

15346

859512

FHLMC FAC

06/04/2004 09/21/2007 03/15/2011

100,000.00

4.000

99,825.39

97,156.25

66.67

97,222.92 Sale

-2,602.47

3133F1CV7

16806

859612

FHLMC FAC

02/15/2006 09/21/2007 03/15/2011

200,000.00

4.000

199,458.65

194,312.50

133.33

194,445.83 Sale

-5,012.82

3133F1CV7

16807

859612

FHLMC FAC

02/15/2006 09/21/2007 03/15/2011

200,000.00

4.000

199,458.65

194,312.50

133.33

194,445.83 Sale

-5,012.82

3133F1CV7

16808

8591W2

FHLMC FAC

02/15/2006 09/21/2007 03/15/2011

200,000.00

4.000

199,651.06

194,312.50

133.33

194,445.83 Sale

-5,205.23

3133MWZZ7

13642

8585R2

FHLB FAC

03/25/2003 09/14/2007 03/25/2013

500,000.00

4.850

499,654.34

487,656.25

11,384.03

499,040.28 Sale

-614.06

3133MWZZ7

13646

859712

FHLB FAC

03/25/2003 09/14/2007 03/25/2013

500,000.00

4.850

499,654.34

487,656.25

11,384.02

499,040.27 Sale

-614.07

3133MWZZ7

15069

850222

FHLB FAC

02/20/2004 09/14/2007 03/25/2013

500,000.00

4.850

500,000.00

487,656.25

11,384.02

499,040.27 Sale

-959.73

3133MWZZ7

16963

8591W2

FHLB FAC

04/14/2006 09/14/2007 03/25/2013

1,000,000.00

4.850

1,000,000.00

975,312.50

22,768.06

998,080.56 Sale

-1,919.44

3133MWZZ7

16964

859512

FHLB FAC

04/14/2006 09/14/2007 03/25/2013

500,000.00

4.850

500,000.00

487,656.25

11,384.03

499,040.28 Sale

-959.72

3133MWZZ7

16966

850222

FHLB FAC

04/14/2006 09/14/2007 03/25/2013

1,000,000.00

4.850

1,000,000.00

975,312.50

22,768.06

998,080.56 Sale

-1,919.44

3133MWZZ7

17206

859622

FHLB FAC

06/28/2006 09/14/2007 03/25/2013

200,000.00

4.850

200,000.00

195,062.50

4,553.61

199,616.11 Sale

-383.89

3133MWZZ7

17207

859652

FHLB FAC

06/28/2006 09/14/2007 03/25/2013

200,000.00

4.850

200,000.00

195,062.50

4,553.61

199,616.11 Sale

-383.89

3133MWZZ7

17208

859712

FHLB FAC

06/28/2006 09/14/2007 03/25/2013

100,000.00

4.850

100,000.00

97,531.25

2,276.81

99,808.06 Sale

-191.94

3133X4LY5

15125

859512

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133X4LY5

15126

859612

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133X4LY5

15127

859622

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Sales/Call Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

Rate at Redem.

Page 3

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

Net Income

Sold By: External Transaction 3133X4LY5

15128

859642

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133X4LY5

15129

859832

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133X4LY5

15130

859922

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133X4LY5

15131

859932

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133X4LY5

15132

850022

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133X4LY5

15133

850222

FHLB FAC

03/09/2004 09/09/2007 03/09/2009

25,000.00

2.435

25,000.00

25,000.00

1,065.31

26,065.31 Call

1,065.31

3133X5QY7

15364

8591W2

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15365

850432

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

2,500.00

3.150

2,500.00

2,500.00

531.56

3,031.56 Call

531.56

3133X5QY7

15366

859512

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

3,750.00

3.150

3,750.00

3,750.00

797.34

4,547.34 Call

797.34

3133X5QY7

15367

859632

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15368

859652

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

2,500.00

3.150

2,500.00

2,500.00

531.56

3,031.56 Call

531.56

3133X5QY7

15369

859712

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15370

859732

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

12,500.00

3.150

12,500.00

12,500.00

2,657.81

15,157.81 Call

2,657.81

3133X5QY7

15371

859812

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15372

859922

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15373

850112

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15374

850122

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15375

850132

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

6,250.00

3.150

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

3133X5QY7

15376

850312

FHLB FAC

04/15/2004 09/28/2007 03/28/2014

3,750.00

3.150

3,750.00

3,750.00

797.34

4,547.34 Call

797.34

15,007,419.16

14,706,796.88

215,574.68

14,922,371.56

-85,047.60

Subtotal

15,025,000.00

Sold By: 1985 Bond Resolution

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Sales/Call Report July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

Page 4

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

Net Income

Sold By: 1985 Bond Resolution 3128X4BB6

18435

859732

FHLMC FAC

06/25/2007 09/12/2007 11/26/2007

200,000.00

4.200

200,227.07

199,572.00

2,473.33

202,045.33 Sale

1,818.26

3128X4BB6

18441

850012

FHLMC FAC

06/25/2007 09/12/2007 11/26/2007

500,000.00

4.200

500,567.67

498,930.00

6,183.33

505,113.33 Sale

4,545.66

3133XAPC5

18540

859512

FHLB FAC

07/13/2007 09/12/2007 12/04/2007

100,000.00

4.000

99,710.96

99,719.00

88.89

99,807.89 Sale

96.93

3133XAPC5

18541

859612

FHLB FAC

07/13/2007 09/12/2007 12/04/2007

100,000.00

4.000

99,710.96

99,719.00

88.89

99,807.89 Sale

96.93

3133XAPC5

18542

859622

FHLB FAC

07/13/2007 09/12/2007 12/04/2007

300,000.00

4.000

299,132.89

299,157.00

266.67

299,423.67 Sale

290.78

3133XAPC5

18543

859642

FHLB FAC

07/13/2007 09/12/2007 12/04/2007

100,000.00

4.000

99,710.96

99,719.00

88.89

99,807.89 Sale

96.93

31359MP56

18477

850012

FNMA FAC

06/28/2007 09/12/2007 12/03/2007

200,000.00

5.250

200,707.50

200,000.00

2,887.50

202,887.50 Sale

2,180.00

31359MPZ0

18422

859642

FNMA FAC

06/20/2007 09/12/2007 11/15/2007

300,000.00

3.250

299,885.56

298,968.00

3,168.75

302,136.75 Sale

2,251.19

31359MPZ0

18426

859732

FNMA FAC

06/20/2007 09/12/2007 11/15/2007

500,000.00

3.250

499,809.26

498,280.00

5,281.25

503,561.25 Sale

3,751.99

31359MPZ0

18431

850012

FNMA FAC

06/20/2007 09/12/2007 11/15/2007

500,000.00

3.250

499,809.26

498,280.00

5,281.25

503,561.25 Sale

3,751.99

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Subtotal

2,800,000.00

2,799,272.09

2,792,344.00

25,808.75

2,818,152.75

18,880.66

Total Sales

17,825,000.00

17,806,691.25

17,499,140.88

241,383.43

17,740,524.31

-66,166.94

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Resolution Float/Equity Maturity Report Sorted by Maturity Date Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

2007-06-20BOA 2007-06-20BOA 2007-06-20BOA 2007-06-20BOA 2007-06-20BOA 2007-06-20BOA 2007-06-20BOA 2007-06-20BOA 2007-06-20BOA 313588HQ1 313588HQ1 313588HQ1 313588HQ1 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-06-25MS 2007-05-16UBS 2007-05-16UBS 2007-05-16UBS 2007-05-16UBS 2007-05-16UBS 2007-05-16UBS 2007-05-16UBS 2007-05-16UBS 2007-05-16UBS 2007-05-16UBS

18410 18411 18412 18413 18414 18415 18416 18417 18418 17957 17958 17959 17960 18454 18455 18456 18457 18458 18459 18460 18461 18463 18464 18465 18466 18467 18468 18469 18302 18303 18304 18305 18306 18307 18309 18310 18311 18312

859722 859732 859912 859932 850212 850222 850312 850412 850712 850512 850612 850622 850632 8585R2 8591W2 850012 850022 850132 850212 850222 850312 850332 850422 850432 850512 850522 850612 850622 859622 859812 850022 850112 850132 850322 850332 850412 850422 850432

MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 AFD AFD AFD AFD MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

BA BA BA BA BA BA BA BA BA FNMA FNMA FNMA FNMA MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW MSDW PW PW PW PW PW PW PW PW PW PW

Par Value

Maturity Date

100,000.00 3,000,000.00 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00 1,300,000.00 100,000.00 1,500,000.00 2,000,000.00 1,000,000.00 500,000.00 500,000.00 800,000.00 200,000.00 200,000.00 200,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 1,300,000.00 800,000.00 500,000.00 500,000.00 200,000.00 300,000.00 400,000.00 300,000.00 400,000.00 2,000,000.00 1,700,000.00 1,500,000.00 1,600,000.00

07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007

Purchase Rate Date at Maturity 06/20/2007 06/20/2007 06/20/2007 06/20/2007 06/20/2007 06/20/2007 06/20/2007 06/20/2007 06/20/2007 03/01/2007 03/01/2007 03/01/2007 03/01/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 06/25/2007 05/16/2007 05/16/2007 05/16/2007 05/16/2007 05/16/2007 05/16/2007 05/16/2007 05/16/2007 05/16/2007 05/16/2007

5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.090 5.090 5.090 5.090 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.240 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

100,000.00 3,000,000.00 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00 1,300,000.00 100,000.00 1,500,000.00 2,000,000.00 1,000,000.00 500,000.00 500,000.00 800,000.00 200,000.00 200,000.00 200,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 1,300,000.00 800,000.00 500,000.00 500,000.00 200,000.00 300,000.00 400,000.00 300,000.00 400,000.00 2,000,000.00 1,700,000.00 1,500,000.00 1,600,000.00

174.00 5,220.00 174.00 174.00 174.00 174.00 174.00 2,262.00 174.00 0.00 0.00 0.00 0.00 509.44 815.11 203.78 203.78 203.78 509.44 509.44 509.44 509.44 509.44 509.44 509.44 1,324.56 815.11 509.44 3,407.50 1,363.00 2,044.50 2,726.00 2,044.50 2,726.00 13,630.00 11,585.50 10,222.50 10,904.00

100,174.00 3,005,220.00 100,174.00 100,174.00 100,174.00 100,174.00 100,174.00 1,302,262.00 100,174.00 1,500,000.00 2,000,000.00 1,000,000.00 500,000.00 500,509.44 800,815.11 200,203.78 200,203.78 200,203.78 500,509.44 500,509.44 500,509.44 500,509.44 500,509.44 500,509.44 500,509.44 1,301,324.56 800,815.11 500,509.44 503,407.50 201,363.00 302,044.50 402,726.00 302,044.50 402,726.00 2,013,630.00 1,711,585.50 1,510,222.50 1,610,904.00

174.00 5,220.00 174.00 174.00 174.00 174.00 174.00 2,262.00 174.00 0.00 0.00 0.00 0.00 509.44 815.11 203.78 203.78 203.78 509.44 509.44 509.44 509.44 509.44 509.44 509.44 1,324.56 815.11 509.44 3,407.50 1,363.00 2,044.50 2,726.00 2,044.50 2,726.00 13,630.00 11,585.50 10,222.50 10,904.00

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Maturity Report Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

2007-05-16UBS 2007-05-16UBS 2007-05-16UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-05UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS

18313 18314 18315 18329 18330 18331 18332 18333 18334 18335 18336 18337 18338 18339 18340 18341 18342 18343 18344 18345 18346 18347 18348 18349 18350 18351 18352 18353 18354 18355 18356 18360 18361 18362 18363 18364 18365 18366 18367 18368 18369

850512 850622 850632 859512 859612 859622 859632 859642 859652 859712 859722 859732 859822 859832 859912 859922 850022 850112 850122 850132 850212 850222 850312 850322 850332 850412 850422 850432 850512 850612 850632 859512 859612 859622 859632 859642 859652 859712 859722 859732 859812

MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW

Par Value

Maturity Date

500,000.00 500,000.00 500,000.00 400,000.00 900,000.00 700,000.00 400,000.00 900,000.00 600,000.00 1,000,000.00 1,900,000.00 600,000.00 900,000.00 1,200,000.00 1,000,000.00 900,000.00 1,200,000.00 1,900,000.00 1,800,000.00 900,000.00 3,700,000.00 2,900,000.00 1,900,000.00 1,500,000.00 4,100,000.00 1,300,000.00 4,800,000.00 2,200,000.00 300,000.00 1,700,000.00 1,000,000.00 200,000.00 400,000.00 600,000.00 400,000.00 300,000.00 500,000.00 900,000.00 100,000.00 700,000.00 800,000.00

07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007

Rate Purchase Date at Maturity 05/16/2007 05/16/2007 05/16/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/04/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007

5.220 5.220 5.220 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250

Page 2

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

500,000.00 500,000.00 500,000.00 400,000.00 900,000.00 700,000.00 400,000.00 900,000.00 600,000.00 1,000,000.00 1,900,000.00 600,000.00 900,000.00 1,200,000.00 1,000,000.00 900,000.00 1,200,000.00 1,900,000.00 1,800,000.00 900,000.00 3,700,000.00 2,900,000.00 1,900,000.00 1,500,000.00 4,100,000.00 1,300,000.00 4,800,000.00 2,200,000.00 300,000.00 1,700,000.00 1,000,000.00 200,000.00 400,000.00 600,000.00 400,000.00 300,000.00 500,000.00 900,000.00 100,000.00 700,000.00 800,000.00

3,407.50 3,407.50 3,407.50 1,633.33 3,675.00 2,858.33 1,633.33 3,675.00 2,450.00 4,083.33 7,758.33 2,450.00 3,675.00 4,900.00 4,083.33 3,675.00 4,900.00 7,758.33 7,350.00 3,675.00 15,108.33 11,841.67 7,758.33 6,125.00 16,741.67 5,308.33 19,600.00 8,983.33 1,225.00 6,941.67 4,083.33 729.17 1,458.33 2,187.50 1,458.33 1,093.75 1,822.92 3,281.25 364.58 2,552.08 2,916.67

503,407.50 503,407.50 503,407.50 401,633.33 903,675.00 702,858.33 401,633.33 903,675.00 602,450.00 1,004,083.33 1,907,758.33 602,450.00 903,675.00 1,204,900.00 1,004,083.33 903,675.00 1,204,900.00 1,907,758.33 1,807,350.00 903,675.00 3,715,108.33 2,911,841.67 1,907,758.33 1,506,125.00 4,116,741.67 1,305,308.33 4,819,600.00 2,208,983.33 301,225.00 1,706,941.67 1,004,083.33 200,729.17 401,458.33 602,187.50 401,458.33 301,093.75 501,822.92 903,281.25 100,364.58 702,552.08 802,916.67

3,407.50 3,407.50 3,407.50 1,633.33 3,675.00 2,858.33 1,633.33 3,675.00 2,450.00 4,083.33 7,758.33 2,450.00 3,675.00 4,900.00 4,083.33 3,675.00 4,900.00 7,758.33 7,350.00 3,675.00 15,108.33 11,841.67 7,758.33 6,125.00 16,741.67 5,308.33 19,600.00 8,983.33 1,225.00 6,941.67 4,083.33 729.17 1,458.33 2,187.50 1,458.33 1,093.75 1,822.92 3,281.25 364.58 2,552.08 2,916.67

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Maturity Report Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-06-07UBS 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG 2007-05-14CG

18370 18371 18372 18373 18374 18375 18376 18377 18378 18379 18380 18381 18382 18383 18384 18385 18386 18387 18389 18391 18280 18281 18282 18283 18284 18285 18286 18287 18288 18289 18290 18291 18292 18293 18294 18295 18296 18297 18298 18299 18300

859822 859922 859932 850012 850022 850112 850122 850132 850212 850222 850312 850322 850332 850432 850512 850522 850622 850632 850712 859732 859632 859652 859732 859812 859832 859922 859932 850012 850022 850112 850222 850332 850412 850422 850432 850512 850522 850612 850622 850632 850712

MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB SB

Par Value

Maturity Date

200,000.00 1,500,000.00 1,600,000.00 2,600,000.00 2,300,000.00 800,000.00 1,300,000.00 1,800,000.00 500,000.00 500,000.00 1,200,000.00 1,500,000.00 400,000.00 1,000,000.00 100,000.00 3,600,000.00 2,200,000.00 1,200,000.00 1,200,000.00 1,500,000.00 800,000.00 1,400,000.00 200,000.00 700,000.00 1,000,000.00 700,000.00 1,600,000.00 200,000.00 800,000.00 1,100,000.00 1,300,000.00 500,000.00 500,000.00 400,000.00 1,200,000.00 3,000,000.00 900,000.00 800,000.00 300,000.00 300,000.00 300,000.00

07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007 07/02/2007

Rate Purchase Date at Maturity 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/07/2007 06/11/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007 05/14/2007

5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220 5.220

Page 3

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

200,000.00 1,500,000.00 1,600,000.00 2,600,000.00 2,300,000.00 800,000.00 1,300,000.00 1,800,000.00 500,000.00 500,000.00 1,200,000.00 1,500,000.00 400,000.00 1,000,000.00 100,000.00 3,600,000.00 2,200,000.00 1,200,000.00 1,200,000.00 1,500,875.00 800,000.00 1,400,000.00 200,000.00 700,000.00 1,000,000.00 700,000.00 1,600,000.00 200,000.00 800,000.00 1,100,000.00 1,300,000.00 500,000.00 500,000.00 400,000.00 1,200,000.00 3,000,000.00 900,000.00 800,000.00 300,000.00 300,000.00 300,000.00

729.17 5,468.75 5,833.33 9,479.17 8,385.42 2,916.67 4,739.58 6,562.50 1,822.92 1,822.92 4,375.00 5,468.75 1,458.33 3,645.83 364.58 13,125.00 8,020.83 4,375.00 4,375.00 5,468.75 5,684.00 9,947.00 1,421.00 4,973.50 7,105.00 4,973.50 11,368.00 1,421.00 5,684.00 7,815.50 9,236.50 3,552.50 3,552.50 2,842.00 8,526.00 21,315.00 6,394.50 5,684.00 2,131.50 2,131.50 2,131.50

200,729.17 1,505,468.75 1,605,833.33 2,609,479.17 2,308,385.42 802,916.67 1,304,739.58 1,806,562.50 501,822.92 501,822.92 1,204,375.00 1,505,468.75 401,458.33 1,003,645.83 100,364.58 3,613,125.00 2,208,020.83 1,204,375.00 1,204,375.00 1,505,468.75 805,684.00 1,409,947.00 201,421.00 704,973.50 1,007,105.00 704,973.50 1,611,368.00 201,421.00 805,684.00 1,107,815.50 1,309,236.50 503,552.50 503,552.50 402,842.00 1,208,526.00 3,021,315.00 906,394.50 805,684.00 302,131.50 302,131.50 302,131.50

729.17 5,468.75 5,833.33 9,479.17 8,385.42 2,916.67 4,739.58 6,562.50 1,822.92 1,822.92 4,375.00 5,468.75 1,458.33 3,645.83 364.58 13,125.00 8,020.83 4,375.00 4,375.00 4,593.75 5,684.00 9,947.00 1,421.00 4,973.50 7,105.00 4,973.50 11,368.00 1,421.00 5,684.00 7,815.50 9,236.50 3,552.50 3,552.50 2,842.00 8,526.00 21,315.00 6,394.50 5,684.00 2,131.50 2,131.50 2,131.50

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Maturity Report Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

2007-07-10MS 2007-07-10MS 2007-07-10MS 2007-07-10MS 2007-07-10MS 2007-07-10MS 2007-07-10MS 3133XABU0

18521 18522 18523 18524 18525 18526 18527 16272

8585R2 8591W2 859612 859722 859832 859922 850132 8585R2

MC3 MC3 MC3 MC3 MC3 MC3 MC3 FAC

3128X3SM6 3128X3SM6 3128X3SM6 3128X3SM6 3128X3SM6 3128X3SM6

18392 18393 18394 18395 18396 18397

859922 850012 850122 850422 850432 850512

2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-29BOA 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 2007-08-15UBS

18637 18638 18639 18640 18641 18642 18643 18644 18646 18597 18598 18599 18600 18601 18602 18603 18604 18605 18606 18607 18608 18609 18610 18611 18612 18613 18614

8585R2 859632 859642 859722 859732 859912 850012 850022 850512 859652 859712 859812 859822 859832 859922 859932 850112 850122 850222 850312 850332 850422 850432 850512 850522 850612 850622

Rate Purchase Date at Maturity

Par Value

Maturity Date

MSDW MSDW MSDW MSDW MSDW MSDW MSDW FHLB

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 2,000,000.00

07/18/2007 07/18/2007 07/18/2007 07/18/2007 07/18/2007 07/18/2007 07/18/2007 07/27/2007

07/10/2007 07/10/2007 07/10/2007 07/10/2007 07/10/2007 07/10/2007 07/10/2007 06/14/2005

5.230 5.230 5.230 5.230 5.230 5.230 5.230 4.000 V

FAC FAC FAC FAC FAC FAC

FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00

08/03/2007 08/03/2007 08/03/2007 08/03/2007 08/03/2007 08/03/2007

06/11/2007 06/11/2007 06/11/2007 06/11/2007 06/11/2007 06/11/2007

MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

BA BA BA BA BA BA BA BA BA PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 700,000.00 800,000.00 700,000.00 500,000.00 700,000.00 1,000,000.00 500,000.00 800,000.00 1,200,000.00 1,000,000.00 900,000.00 900,000.00 1,500,000.00 1,800,000.00 1,700,000.00 1,300,000.00 1,000,000.00 900,000.00

09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/06/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007 09/10/2007

08/29/2007 08/29/2007 08/29/2007 08/29/2007 08/29/2007 08/29/2007 08/29/2007 08/29/2007 08/29/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007 08/15/2007

Page 4

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 2,000,000.00

581.11 581.11 581.11 581.11 581.11 581.11 581.11 40,000.00

500,581.11 500,581.11 500,581.11 500,581.11 500,581.11 500,581.11 500,581.11 2,040,000.00

581.11 581.11 581.11 581.11 581.11 581.11 581.11 40,000.00

3.750 3.750 3.750 3.750 3.750 3.750

506,666.67 506,666.67 506,666.67 506,666.67 506,666.67 506,666.65

9,375.00 9,375.00 9,375.00 9,375.00 9,375.00 9,375.00

509,375.00 509,375.00 509,375.00 509,375.00 509,375.00 509,375.00

2,708.33 2,708.33 2,708.33 2,708.33 2,708.33 2,708.35

5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.250 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200 5.200

500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 700,000.00 800,000.00 700,000.00 500,000.00 700,000.00 1,000,000.00 500,000.00 800,000.00 1,200,000.00 1,000,000.00 900,000.00 900,000.00 1,500,000.00 1,800,000.00 1,700,000.00 1,300,000.00 1,000,000.00 900,000.00

583.33 583.33 583.33 583.33 583.33 583.33 583.33 583.33 583.33 2,628.89 3,004.44 2,628.89 1,877.78 2,628.89 3,755.56 1,877.78 3,004.44 4,506.67 3,755.56 3,380.00 3,380.00 5,633.33 6,760.00 6,384.44 4,882.22 3,755.56 3,380.00

500,583.33 500,583.33 500,583.33 500,583.33 500,583.33 500,583.33 500,583.33 500,583.33 500,583.33 702,628.89 803,004.44 702,628.89 501,877.78 702,628.89 1,003,755.56 501,877.78 803,004.44 1,204,506.67 1,003,755.56 903,380.00 903,380.00 1,505,633.33 1,806,760.00 1,706,384.44 1,304,882.22 1,003,755.56 903,380.00

583.33 583.33 583.33 583.33 583.33 583.33 583.33 583.33 583.33 2,628.89 3,004.44 2,628.89 1,877.78 2,628.89 3,755.56 1,877.78 3,004.44 4,506.67 3,755.56 3,380.00 3,380.00 5,633.33 6,760.00 6,384.44 4,882.22 3,755.56 3,380.00

V - Security with variable rate change.

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Maturity Report Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

2007-08-15UBS 2007-08-15UBS 2007-08-15UBS 31359MJ87 31359MJ87 31359MJ87 31359MJ87 31359MJ87 31359MJ87 31359MJ87 31359MJ87 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 3134A4RH9 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 31359MYZ0 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS

18615 18616 18617 18511 18512 18513 18514 18515 18516 18576 18577 18531 18532 18533 18534 18535 18536 18537 18538 18558 18559 18560 18561 18562 18563 18564 18565 18574 18578 18655 18656 18657 18658 18672 18674 18675 18676 18677 18678 18679 18680

850632 850712 850722 850412 850522 850612 850622 850632 850712 850412 850422 850012 850112 850322 850422 850432 850522 850612 850622 859612 859622 859652 859922 850012 850022 850222 850322 850412 850422 8591W2 859622 859652 850212 8585R2 8591W2 859512 859612 859622 859632 859642 859652

MC3 MC3 MC3 FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC FAC MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

PW PW PW FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FHLMC FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA FNMA PW PW PW PW PW PW PW PW

Par Value

Maturity Date

900,000.00 600,000.00 600,000.00 500,000.00 500,000.00 500,000.00 600,000.00 250,000.00 250,000.00 1,000,000.00 600,000.00 300,000.00 300,000.00 400,000.00 500,000.00 600,000.00 1,600,000.00 800,000.00 500,000.00 500,000.00 447,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 500,000.00 400,000.00 200,000.00 200,000.00 300,000.00 200,000.00 380,000.00 1,400,000.00 900,000.00 800,000.00 500,000.00 1,700,000.00 600,000.00 1,200,000.00 1,100,000.00

09/10/2007 09/10/2007 09/10/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/15/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007

Rate Purchase Date at Maturity 08/15/2007 08/15/2007 08/15/2007 07/06/2007 07/06/2007 07/06/2007 07/06/2007 07/06/2007 07/06/2007 08/07/2007 08/07/2007 07/10/2007 07/10/2007 07/10/2007 07/10/2007 07/10/2007 07/10/2007 07/10/2007 07/10/2007 07/23/2007 07/23/2007 07/23/2007 07/23/2007 07/23/2007 07/23/2007 07/23/2007 07/23/2007 08/07/2007 08/07/2007 09/04/2007 09/04/2007 09/04/2007 09/04/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007

5.200 5.200 5.200 5.000 5.000 5.000 5.000 5.000 5.000 5.000 5.000 3.500 3.500 3.500 3.500 3.500 3.500 3.500 3.500 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.250 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960

Page 5

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

900,000.00 600,000.00 600,000.00 507,777.78 507,777.78 507,777.78 609,333.32 253,888.89 253,888.89 1,019,861.11 611,916.67 303,354.17 303,354.17 404,472.22 505,590.28 606,708.33 1,617,888.89 808,944.44 505,590.28 507,555.56 453,754.67 507,555.56 507,555.56 507,555.56 507,555.56 507,555.56 507,555.56 406,705.56 203,352.78 203,990.28 305,985.42 203,990.28 387,581.52 1,400,000.00 900,000.00 800,000.00 500,000.00 1,700,000.00 600,000.00 1,200,000.00 1,100,000.00

3,380.00 2,253.33 2,253.33 12,500.00 12,500.00 12,500.00 15,000.00 6,250.00 6,250.00 25,000.00 15,000.00 5,250.00 5,250.00 7,000.00 8,750.00 10,500.00 28,000.00 14,000.00 8,750.00 10,625.00 9,498.75 10,625.00 10,625.00 10,625.00 10,625.00 10,625.00 10,625.00 8,500.00 4,250.00 4,250.00 6,375.00 4,250.00 8,075.00 2,700.44 1,736.00 1,543.11 964.44 3,279.11 1,157.33 2,314.67 2,121.78

903,380.00 602,253.33 602,253.33 512,500.00 512,500.00 512,500.00 615,000.00 256,250.00 256,250.00 1,025,000.00 615,000.00 305,250.00 305,250.00 407,000.00 508,750.00 610,500.00 1,628,000.00 814,000.00 508,750.00 510,625.00 456,498.75 510,625.00 510,625.00 510,625.00 510,625.00 510,625.00 510,625.00 408,500.00 204,250.00 204,250.00 306,375.00 204,250.00 388,075.00 1,402,700.44 901,736.00 801,543.11 500,964.44 1,703,279.11 601,157.33 1,202,314.67 1,102,121.78

3,380.00 2,253.33 2,253.33 4,722.22 4,722.22 4,722.22 5,666.68 2,361.11 2,361.11 5,138.89 3,083.33 1,895.83 1,895.83 2,527.78 3,159.72 3,791.67 10,111.11 5,055.56 3,159.72 3,069.44 2,744.08 3,069.44 3,069.44 3,069.44 3,069.44 3,069.44 3,069.44 1,794.44 897.22 259.72 389.58 259.72 493.48 2,700.44 1,736.00 1,543.11 964.44 3,279.11 1,157.33 2,314.67 2,121.78

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

1985 Resolution Float/Equity Maturity Report Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS 2007-09-14UBS

18681 18682 18683 18684 18685 18686 18687 18688 18689 18690 18691 18692 18693 18694 18695 18697 18698 18699 18700 18701 18702 18703 18704 18705 18706

859712 859722 859732 859812 859822 859832 859912 859922 859932 850012 850022 850112 850212 850222 850312 850332 850422 850432 850512 850522 850612 850622 850632 850712 850722

MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3 MC3

PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW PW

Total Maturities

Data Updated: SET_85EQ: 11/01/2007 15:50 Run Date: 11/01/2007 - 15:50

Par Value

Maturity Date

1,500,000.00 900,000.00 1,200,000.00 1,000,000.00 800,000.00 1,000,000.00 500,000.00 1,500,000.00 1,200,000.00 2,100,000.00 900,000.00 1,400,000.00 400,000.00 1,800,000.00 1,300,000.00 1,600,000.00 2,000,000.00 2,500,000.00 3,500,000.00 1,000,000.00 1,400,000.00 1,400,000.00 1,400,000.00 900,000.00 1,400,000.00

09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007 09/28/2007

211,527,000.00

Rate Purchase Date at Maturity 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007 09/14/2007

4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960 4.960

Page 6

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

1,500,000.00 900,000.00 1,200,000.00 1,000,000.00 800,000.00 1,000,000.00 500,000.00 1,500,000.00 1,200,000.00 2,100,000.00 900,000.00 1,400,000.00 400,000.00 1,800,000.00 1,300,000.00 1,600,000.00 2,000,000.00 2,500,000.00 3,500,000.00 1,000,000.00 1,400,000.00 1,400,000.00 1,400,000.00 900,000.00 1,400,000.00

2,893.33 1,736.00 2,314.67 1,928.89 1,543.11 1,928.89 964.44 2,893.33 2,314.67 4,050.67 1,736.00 2,700.44 771.56 3,472.00 2,507.56 3,086.22 3,857.78 4,822.22 6,751.11 1,928.89 2,700.44 2,700.44 2,700.44 1,736.00 2,700.44

1,502,893.33 901,736.00 1,202,314.67 1,001,928.89 801,543.11 1,001,928.89 500,964.44 1,502,893.33 1,202,314.67 2,104,050.67 901,736.00 1,402,700.44 400,771.56 1,803,472.00 1,302,507.56 1,603,086.22 2,003,857.78 2,504,822.22 3,506,751.11 1,001,928.89 1,402,700.44 1,402,700.44 1,402,700.44 901,736.00 1,402,700.44

2,893.33 1,736.00 2,314.67 1,928.89 1,543.11 1,928.89 964.44 2,893.33 2,314.67 4,050.67 1,736.00 2,700.44 771.56 3,472.00 2,507.56 3,086.22 3,857.78 4,822.22 6,751.11 1,928.89 2,700.44 2,700.44 2,700.44 1,736.00 2,700.44

211,787,249.43

1,081,178.15

212,608,178.15

820,928.72

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

DEBT SERVICE RESERVE FUNDS (DSRF) DESCRIPTION These funds have been set aside from prior bond proceeds, and represent the maximum annual debt service for the life of the bonds. The Debt Service Reserve requirement is by Resolution rather than bond issue. The calculation of the DSRF is performed by the Financial Advisor at the time of a new bond issue as well as annually and is based on amortized value rather than market value (pursuant to the terms of the General Bond Resolutions) For most of THDA’s history, the standard practice has been to invest the DSRF in investments with approximately the same maturity of the longestterm bond. This practice has been at the advice of Underwriters, Financial Advisors and Rating Agencies. However, beginning in 1993 when rates were at historic lows the Rating Agencies required substantially shorter maturity DSRF investment since a 30-year investment would lose substantial value if rates increased substantially. Therefore since that time investment decisions for these funds have been influenced by market conditions at the time of the investments. A Debt Service Reserve Fund analysis was last done by CSG Advisors, Inc. in September 2007 (for the 1974 resolution) and in conjunction with bond issue 2007-3 (for the 1985 resolution). The result of these analyses was that THDA needed to increase the Debt Service Reserve Fund for the 1985 Resolution by $ 3,443,060. As of these reports, the Debt Service Reserve Fund requirement was $15,969,060 for the 1974 Resolution and $136,900,009 for the 1985 Resolution.

THDA QUARTERLY INVESTMENT REPORT DEBT SERVICE RESERVE FUNDS September 30, 2007 1974 Resolution

Historical Fund Balances

6/30/05 6/30/06 6/30/07 9/30/07 Historical Returns (Yield) 1974 Resolution 1985 Resolution

1985 Resolution

Amortized Cost 36,290,508.55 36,403,074.44 36,398,534.46 36,374,923.30

Market Value 41,898,518.68 38,344,571.63 38,581,976.83 39,591,214.72

Quarter ending 9/30/2007 6.214% 7.742%

Current Fiscal Year 6.179% 7.742%

Amortized Cost 117,624,803.65 118,888,446.12 133,550,013.42 137,104,334.26 Last 12 Months 6.179% 7.913%

Market Value 153,518,704.85 138,222,811.72 151,499,105.39 158,412,230.54 Last 24 Months 6.273% 8.008%

Benchmarks: NOTE: DSRF Investments represent investments funded throughout the history of THDA. As older bond issues under which DSRF investments were purchased were refunded, the DSRF investments were transferred to the refunding issues, and at times even to several issues. Because of this a benchmark comparison to other current rates would be meaningless. Duration Average Duration to Maturity (Years) Average Duration to Call (Years)

1974 Resolution 1985 Resolution

6.2 6.2 1974 Resolution

Asset Allocation

Money Market Funds Federal Agency Coupons Treasury Coupon Securities Repurchase Agreements Variable Rate Securities Discount Bonds Total

Dollar value* 577,769.43 27,241,222.95 8,555,930.92 36,374,923.30

6.5 5.7 1985 Resolution

Percentage Dollar value* 1.59% 1,575,941.95 74.89% 60,394,232.43 23.52% 75,134,159.88 0.00% 0.00% 0.00% 100.00% 137,104,334.26

*Dollar values are stated as book (amortized cost) value.

Percentage 1.15% 44.05% 54.80% 0.00% 0.00% 0.00% 100.00%

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

74 Res DSRF Merged Investments by Issuer Active Investments Sorted by Maturity Date September 30, 2007 CUSIP

Investment #

Security Type

Investmen t

Book Value

Current Rate

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

Call Date Collateral

Federal Home Loan Bank 3133XD7F2

16516

Federal Agency Coupon Securities

Fair

1,498,405.44

3133XK5A9

18022

Federal Agency Coupon Securities

Fair

1,000,000.00

Subtotal and Average

5.700

2,498,405.44

1,432,500.00 09/28/2007

6.120

03/27/2009

543

1,000,312.50 09/28/2007

5.700

03/09/2012

1,621

2,432,812.50

5.952

12/27/2007

974

Federal Home Loan Mortgage Cor 3128X1AR8

15469

Federal Agency Coupon Securities

Fair

500,575.66

5.125

498,649.98 09/28/2007

5.098

05/13/2013

2,051

3128X2P66

15357

Federal Agency Coupon Securities

Fair

1,000.00

5.310

997.24 09/28/2007

5.309

03/24/2014

2,366

3128X2P66

15358

Federal Agency Coupon Securities

Fair

995,000.00

5.310

992,249.84 09/28/2007

5.309

03/24/2014

2,366

3128X2P66

15529

Federal Agency Coupon Securities

Fair

4,000.00

5.310

3,988.94 09/28/2007

5.309

03/24/2014

2,366

3128X2P66

15618

Federal Agency Coupon Securities

Fair

100,000.00

5.310

99,723.60 09/28/2007

5.309

03/24/2014

2,366

3128X0KT5

14597

Federal Agency Coupon Securities

Fair

1,096,552.71

5.200

1,089,559.94 09/28/2007

5.252

11/25/2015

2,977

3128X0R27

13574

Federal Agency Coupon Securities

Fair

498,782.45

5.000

491,486.97 09/28/2007

5.040

03/10/2016

3,083

3128X0R27

15473

Federal Agency Coupon Securities

Fair

507,102.41

5.000

491,486.97 09/28/2007

5.005

03/10/2016

3,083

3128X0R27

15491

Federal Agency Coupon Securities

Fair

60,000.00

5.000

58,978.44 09/28/2007

4.999

03/10/2016

3,083

313400MC4

13775

Federal Agency Coupon Securities

Fair

2,644,822.09

8.250

3,028,906.25 09/28/2007

7.204

06/01/2016

3,166

313400MC4

14600

Federal Agency Coupon Securities

Fair

1,082,210.00

8.250

1,211,562.50 09/28/2007

7.216

06/01/2016

3,166

3128X2VE2

16292

Federal Agency Coupon Securities

Fair

300,000.00

5.000

299,759.72 09/28/2007

4.999

02/25/2019

4,165

3128X2X67

15175

Federal Agency Coupon Securities

Fair

78,000.00

5.500

77,138.81 09/28/2007

5.500

04/08/2019

4,207

3128X2X67

15176

Federal Agency Coupon Securities

Fair

69,000.00

5.500

68,238.17 09/28/2007

5.500

04/08/2019

4,207

3128X2X67

15177

Federal Agency Coupon Securities

Fair

193,000.00

5.500

190,869.10 09/28/2007

5.500

04/08/2019

4,207

3128X2X67

15178

Federal Agency Coupon Securities

Fair

233,000.00

5.500

230,427.46 09/28/2007

5.500

04/08/2019

4,207

3128X2X67

15190

Federal Agency Coupon Securities

Fair

178,000.00

5.500

176,034.71 09/28/2007

5.500

04/08/2019

4,207

3128X5N87

18089

Federal Agency Coupon Securities

Fair

70,000.00

6.000

70,205.38 09/28/2007

6.000

03/23/2022

5,287

Subtotal and Average

8,611,045.32

9,080,264.02

6.087

2,759,484.38 09/28/2007

8.250

2,759,484.38

8.250

09/23/2008

3,107

FICO 317705AP6

10400

Federal Agency Coupon Securities

Fair

Subtotal and Average

2,147,559.75

8.600

2,147,559.75

09/26/2019

4,378 4,378

Federal National Mortgage Admi 3136F3BN5

14714

Federal Agency Coupon Securities

Fair

105,001.02

5.000

104,278.13 09/28/2007

4.999

03/11/2013

1,988

3136F3BN5

14715

Federal Agency Coupon Securities

Fair

95,000.92

5.000

94,346.88 09/28/2007

4.999

03/11/2013

1,988

3136F3BN5

14716

Federal Agency Coupon Securities

Fair

370,003.59

5.000

367,456.25 09/28/2007

4.999

03/11/2013

1,988

Data Updated: SET_74RF: 11/01/2007 13:56 Run Date: 11/01/2007 - 13:56

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

74 Res DSRF Merged Investments by Issuer Sorted by Maturity Date

CUSIP

Investment #

Security Type

Investmen t

3136F3BN5

15620

Federal Agency Coupon Securities

3136F2SA7

14735

Federal Agency Coupon Securities

3136F2SA7

15471

3136F3DM5

Page 2 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

800,000.00

5.000

794,500.00 09/28/2007

5.000

03/11/2013

1,988

Fair

500,115.28

5.250

495,468.75 09/28/2007

5.246

05/07/2015

2,775

Federal Agency Coupon Securities

Fair

200,000.00

5.250

198,187.50 09/28/2007

5.249

05/07/2015

2,775

14602

Federal Agency Coupon Securities

Fair

497,150.78

5.125

487,656.25 09/28/2007

5.203

04/09/2018

3,843

3136F3DM5

15463

Federal Agency Coupon Securities

Fair

45,000.00

5.125

43,889.06 09/28/2007

5.124

04/09/2018

3,843

3136F3DM5

15464

Federal Agency Coupon Securities

Fair

255,000.00

5.125

248,704.69 09/28/2007

5.124

04/09/2018

3,843

3136F3DM5

15470

Federal Agency Coupon Securities

Fair

600,000.00

5.125

585,187.50 09/28/2007

5.124

04/09/2018

3,843

3136F3YS9

14604

Federal Agency Coupon Securities

Fair

3,835,327.82

5.000

3,677,687.50 09/28/2007

5.014

07/02/2018

3,927

3136F3N51

14233

Federal Agency Coupon Securities

Fair

330,000.00

5.250

322,884.38 09/28/2007

5.250

07/16/2018

3,941

3136F3N51

14234

Federal Agency Coupon Securities

Fair

1,515,000.00

5.250

1,482,332.81 09/28/2007

5.250

07/16/2018

3,941

3136F2T24

15472

Federal Agency Coupon Securities

Fair

306,343.75

5.250

293,437.50 09/28/2007

5.249

07/30/2018

3,955

Subtotal and Average

9,453,943.16

Market Value

Market Date

9,196,017.20

5.103

Call Date Collateral

3,551

Student Loan Marketing Associa 863871NB1

10367

Federal Agency Coupon Securities

Fair

Subtotal and Average

4,530,269.28

7.300

4,530,269.28

5,151,164.06 09/28/2007

7.676

5,151,164.06

7.676

08/01/2012

1,766 1,766

United States Treasury 912810DW5

10380

Treasury Coupon Securities

Fair

4,615,433.52

7.250

5,534,953.13 09/28/2007

7.422

05/15/2016

3,149

912810DX3

10385

Treasury Coupon Securities

Fair

3,940,497.40

7.500

4,858,750.00 09/28/2007

7.841

11/15/2016

3,333

Subtotal and Average Total and Average

Data Updated: SET_74RF: 11/01/2007 13:56 Run Date: 11/01/2007 - 13:56

8,555,930.92 35,797,153.87

10,393,703.13

7.615

3,233

39,013,445.29

6.514

3,012

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

74 RES DSRF SUMMARY Investments by All Types Active Investments September 30, 2007 CUSIP

Investment #

Fund

Issuer

Par Value

Purchase Price

Book Value

Current Rate

Maturity Date

Call Date

Call Price

Federal Agency Coupon Securities Subtotal

26,981,000.00

27,241,222.95

Subtotal

8,650,000.00

8,555,930.92

Total

35,631,000.00

Treasury Coupon Securities

Data Updated: SET_74SM: 11/01/2007 14:01 Run Date: 11/01/2007 - 14:01

35,797,153.87

Portfolio TH08 AC AT (PRF_DT) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

74 RES DSRF SUMMARY Interest Earnings Sorted by Fund - Fund July 1, 2007 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2003-A DSRF (6076009586) Subtotal

10,348,000.00

10,458,774.93

10,458,204.70

4.572

121,656.25

-1,128.18

120,528.07

Subtotal

3,487,000.00

3,501,164.67

3,501,152.55

5.083

44,877.17

-23.98

44,853.19

Subtotal

7,850,000.00

7,951,956.33

7,840,144.67

7.157

143,292.44

-1,863.94

141,428.50

Subtotal

6,898,000.00

6,873,945.46

6,874,397.86

7.581

130,456.25

895.06

131,351.31

Subtotal

7,648,000.00

7,612,423.64

7,612,934.07

6.507

123,845.19

1,009.88

124,855.07

Total

36,231,000.00

36,398,265.03

36,286,833.84

6.156

564,127.30

-1,111.16

563,016.14

Fund: 1994A DSRF (6076005633)

Fund: 1994B DSRF (6076005731)

Fund: 1995A DSRF (6076005839)

Fund: 1995B/C DSRF (6076005946)

Data Updated: SET_74SM: 11/01/2007 14:01 Run Date: 11/01/2007 - 14:01

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

74 RES DSRF SUMMARY Interest Earnings Sorted by Fund - Fund October 1, 2006 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2003-A DSRF (6076009586) Subtotal

10,348,000.00

9,392,168.25

9,991,102.83

4.555

459,601.66

-4,521.50

455,080.16

Subtotal

3,487,000.00

3,501,236.59

3,501,188.44

5.124

179,508.65

-95.90

179,412.75

Subtotal

7,850,000.00

7,957,548.18

7,925,859.59

7.190

577,334.77

-7,455.79

569,878.98

Subtotal

6,898,000.00

6,871,313.87

6,873,079.91

7.644

521,825.00

3,526.65

525,351.65

Subtotal

7,648,000.00

7,609,426.93

7,611,435.71

6.561

495,380.75

4,006.59

499,387.34

Total

36,231,000.00

35,331,693.82

35,902,666.48

6.209

2,233,650.83

-4,539.95

2,229,110.88

Fund: 1994A DSRF (6076005633)

Fund: 1994B DSRF (6076005731)

Fund: 1995A DSRF (6076005839)

Fund: 1995B/C DSRF (6076005946)

Data Updated: SET_74SM: 11/01/2007 14:04 Run Date: 11/01/2007 - 14:04

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

74 RES DSRF SUMMARY Interest Earnings Sorted by Fund - Fund October 1, 2005 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2003-A DSRF (6076009586) Subtotal

10,348,000.00

9,396,689.77

9,692,760.84

4.754

930,643.10

-9,043.02

921,600.08

Subtotal

3,487,000.00

3,501,332.50

3,501,236.39

5.124

359,017.30

-191.81

358,825.49

Subtotal

7,850,000.00

7,965,003.99

7,943,560.09

7.183

1,156,057.87

-14,911.60

1,141,146.27

Subtotal

6,898,000.00

6,867,787.24

6,871,316.59

7.646

1,043,650.00

7,053.28

1,050,703.28

Subtotal

7,648,000.00

7,605,420.33

7,609,432.42

6.563

990,761.50

8,013.19

998,774.69

Total

36,231,000.00

35,336,233.83

35,618,306.33

6.276

4,480,129.77

-9,079.96

4,471,049.81

Fund: 1994A DSRF (6076005633)

Fund: 1994B DSRF (6076005731)

Fund: 1995A DSRF (6076005839)

Fund: 1995B/C DSRF (6076005946)

Data Updated: SET_74SM: 11/01/2007 14:23 Run Date: 11/01/2007 - 14:23

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

74 Res DSRF Merged Sales/Call Report Sorted by Source - Security ID July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

11/03/2003 09/14/2007 07/08/2015

600,000.00

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

4.900

600,000.00

577,500.00

5,390.00

582,890.00 Sale

-17,110.00

Net Income

Sold By: External Transaction 31331QZ67

14747

7494B5

Data Updated: SET_74RF: 11/01/2007 13:56 Run Date: 11/01/2007 - 13:56

FFCB FAC

Subtotal

600,000.00

600,000.00

577,500.00

5,390.00

582,890.00

-17,110.00

Total Sales

600,000.00

600,000.00

577,500.00

5,390.00

582,890.00

-17,110.00

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Res DSRF Merged Investments by Issuer Active Investments Sorted by Fund September 30, 2007 CUSIP

Investment #

Security Type

Investmen t

Book Value

Current Rate

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

Call Date Collateral

Federal Farm Credit Bank 31331XWD0

18472

Federal Agency Coupon Securities

Fair

998,887.00

6.000

1,002,187.50 09/28/2007

6.737

04/20/2022

5,315

04/20/2009

31331XWD0

18471

Federal Agency Coupon Securities

Fair

109,877.57

6.000

110,240.63 09/28/2007

6.737

04/20/2022

5,315

04/20/2009

Subtotal and Average

1,108,764.57

1,112,428.13

6.737

5,315

Federal Home Loan Bank 3133XKB46

18103

Federal Agency Coupon Securities

Fair

74,682.95

5.500

73,945.31 09/28/2007

5.547

03/29/2022

5,293

31339YRU8

16445

Federal Agency Coupon Securities

Fair

2,000,000.00

4.800

1,975,000.00 09/28/2007

4.800

07/23/2013

2,122

3133XKB46

18104

Federal Agency Coupon Securities

Fair

51,780.18

5.500

51,268.75 09/28/2007

5.547

03/29/2022

5,293

3133XHAR3

17717

Federal Agency Coupon Securities

Fair

1,493,007.82

6.050

1,492,031.25 09/28/2007

6.101

10/20/2021

5,133

10/20/2008

3133XJF29

17868

Federal Agency Coupon Securities

Fair

747,989.46

6.000

742,968.75 09/28/2007

6.295

01/18/2022

5,223

10/18/2007

3133XK5A9

18023

Federal Agency Coupon Securities

Fair

1,000,000.00

5.700

1,000,312.50 09/28/2007

5.700

03/09/2012

1,621

3133XKB46

18105

Federal Agency Coupon Securities

Fair

1,057,510.54

5.500

1,047,065.63 09/28/2007

5.543

03/29/2022

5,293

3133XLY31

18622

Federal Agency Coupon Securities

Fair

1,000,000.00

6.000

1,008,125.00 09/28/2007

6.000

08/20/2015

2,880

3133XKB46

18101

Federal Agency Coupon Securities

Fair

248,943.11

5.500

246,484.38 09/28/2007

5.547

03/29/2022

5,293

3133XJF29

17867

Federal Agency Coupon Securities

Fair

747,989.46

6.000

742,968.75 09/28/2007

6.295

01/18/2022

5,223

3133XKB46

18102

Federal Agency Coupon Securities

Fair

20,911.23

5.500

20,704.69 09/28/2007

5.547

03/29/2022

5,293

Subtotal and Average

8,442,814.75

8,400,875.01

5.672

02/20/2008 10/18/2007

3,780

Federal Home Loan Mortgage Cor 3128X5N87

18094

Federal Agency Coupon Securities

Fair

249,924.53

6.000

250,733.49 09/28/2007

6.003

03/23/2022

5,287

09/23/2008

3128X5N87

18095

Federal Agency Coupon Securities

Fair

174,947.17

6.000

175,513.44 09/28/2007

6.003

03/23/2022

5,287

09/23/2008

3128X2X67

15187

Federal Agency Coupon Securities

Fair

659,000.00

5.500

651,724.01 09/28/2007

5.500

04/08/2019

4,207

3128X1CM7

18083

Federal Agency Coupon Securities

Fair

400,000.00

5.000

397,718.81 09/28/2007

4.999

05/29/2013

2,067

3128X2X67

15188

Federal Agency Coupon Securities

Fair

22,000.00

5.500

21,757.10 09/28/2007

5.500

04/08/2019

4,207

3128X0R27

15494

Federal Agency Coupon Securities

Fair

30,000.00

5.000

29,489.22 09/28/2007

4.999

03/10/2016

3,083

3128X2X67

15189

Federal Agency Coupon Securities

Fair

2,300,000.00

5.500

2,274,605.80 09/28/2007

5.500

04/08/2019

4,207

3128X2P66

15393

Federal Agency Coupon Securities

Fair

465,000.00

5.310

463,714.75 09/28/2007

5.309

03/24/2014

2,366

3128X0R27

15495

Federal Agency Coupon Securities

Fair

20,000.00

5.000

19,659.48 09/28/2007

4.999

03/10/2016

3,083

3128X2X67

15180

Federal Agency Coupon Securities

Fair

56,000.00

5.500

55,381.71 09/28/2007

5.500

04/08/2019

4,207

3128X2P66

15356

Federal Agency Coupon Securities

Fair

970,000.00

5.310

967,318.94 09/28/2007

5.309

03/24/2014

2,366

3128X2P66

16275

Federal Agency Coupon Securities

Fair

1,000,000.00

5.310

997,236.02 09/28/2007

5.309

03/24/2014

2,366

3128X5N87

18090

Federal Agency Coupon Securities

Fair

214,000.00

6.000

214,627.87 09/28/2007

6.000

03/23/2022

5,287

09/23/2008

3128X6GB6

18568

Federal Agency Coupon Securities

Fair

2,991.66

6.500

3,022.97 09/28/2007

6.530

07/25/2022

5,411

07/25/2008

Data Updated: SET_85IC: 11/01/2007 15:38 Run Date: 11/01/2007 - 15:38

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Res DSRF Merged Investments by Issuer Sorted by Fund

CUSIP

Investment #

Security Type

Investmen t

3128X5RD2

17802

Federal Agency Coupon Securities

3128X2R56

17900

Federal Agency Coupon Securities

3128X5N87

18091

3128X6GB6

Page 2 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

1,499,111.28

6.000

1,491,224.90 09/28/2007

6.006

12/20/2021

5,194

Fair

394,714.23

4.000

398,283.20 09/28/2007

5.236

03/29/2019

4,197

12/29/2007

Federal Agency Coupon Securities

Fair

600,000.00

6.000

601,760.38 09/28/2007

6.000

03/23/2022

5,287

09/23/2008

18569

Federal Agency Coupon Securities

Fair

104,708.30

6.500

105,804.08 09/28/2007

6.530

07/25/2022

5,411

07/25/2008

3128X6KK1

18625

Federal Agency Coupon Securities

Fair

9,968.98

6.400

10,063.04 09/28/2007

6.728

08/22/2022

5,439

08/22/2008

3128X6GB6

18570

Federal Agency Coupon Securities

Fair

39,888.88

6.500

40,306.32 09/28/2007

6.530

07/25/2022

5,411

07/25/2008

3128X6DF0

18586

Federal Agency Coupon Securities

Fair

2,009,810.72

6.000

2,004,576.11 09/28/2007

6.031

06/21/2022

5,377

3128X6KK1

18626

Federal Agency Coupon Securities

Fair

588,169.57

6.400

593,719.37 09/28/2007

6.728

08/22/2022

5,439

313400MC4

10381

Federal Agency Coupon Securities

Fair

746,916.85

8.250

908,671.88 09/28/2007

8.364

06/01/2016

3,166

Market Value

Market Date

Call Date Collateral

08/22/2008

3128X2X67

15179

Federal Agency Coupon Securities

Fair

100,000.00

5.500

98,895.90 09/28/2007

5.500

04/08/2019

4,207

3128X0R27

15492

Federal Agency Coupon Securities

Fair

45,000.00

5.000

44,233.83 09/28/2007

4.999

03/10/2016

3,083

3128X0KT5

16665

Federal Agency Coupon Securities

Fair

498,432.69

5.200

495,254.52 09/28/2007

5.250

11/25/2015

2,977

3128X1AR8

17098

Federal Agency Coupon Securities

Fair

410,688.97

5.125

398,919.98 09/28/2007

5.052

05/13/2013

2,051

3128X1AR8

17544

Federal Agency Coupon Securities

Fair

100,338.20

5.125

99,730.00 09/28/2007

5.052

05/13/2013

2,051

3128X1CM7

17546

Federal Agency Coupon Securities

Fair

500,000.00

5.000

497,148.51 09/28/2007

4.999

05/29/2013

2,067

3128X6GB6

18571

Federal Agency Coupon Securities

Fair

23,933.33

6.500

24,183.79 09/28/2007

6.796

07/25/2022

5,411

07/25/2008

3128X6KK1

18624

Federal Agency Coupon Securities

Fair

996,897.57

6.400

1,006,304.02 09/28/2007

6.728

08/22/2022

5,439

08/22/2008

3128X0KT5

16448

Federal Agency Coupon Securities

Fair

199,369.03

5.200

198,101.81 09/28/2007

5.250

11/25/2015

2,977

3128X2X67

15181

Federal Agency Coupon Securities

Fair

24,000.00

5.500

23,735.02 09/28/2007

5.500

04/08/2019

4,207

3128X2P66

15390

Federal Agency Coupon Securities

Fair

40,000.00

5.310

39,889.44 09/28/2007

5.309

03/24/2014

2,366

3128X2P66

16279

Federal Agency Coupon Securities

Fair

550,000.00

5.310

548,479.81 09/28/2007

5.309

03/24/2014

2,366

3128X0KT5

17548

Federal Agency Coupon Securities

Fair

249,215.18

5.200

247,627.26 09/28/2007

5.248

11/25/2015

2,977

3128X2X67

15182

Federal Agency Coupon Securities

Fair

233,000.00

5.500

230,427.46 09/28/2007

5.500

04/08/2019

4,207

3128X2P66

15391

Federal Agency Coupon Securities

Fair

45,000.00

5.310

44,875.62 09/28/2007

5.309

03/24/2014

2,366

3128X2P66

16277

Federal Agency Coupon Securities

Fair

350,000.00

5.310

349,032.61 09/28/2007

5.309

03/24/2014

2,366

3128X1CM7

17547

Federal Agency Coupon Securities

Fair

100,000.00

5.000

99,429.70 09/28/2007

4.999

05/29/2013

2,067

3128X5N87

18084

Federal Agency Coupon Securities

Fair

250,000.00

6.000

250,733.49 09/28/2007

6.000

03/23/2022

5,287

3128X2X67

15183

Federal Agency Coupon Securities

Fair

48,000.00

5.500

47,470.03 09/28/2007

5.500

04/08/2019

4,207

3128X2X67

15184

Federal Agency Coupon Securities

Fair

31,000.00

5.500

30,657.73 09/28/2007

5.500

04/08/2019

4,207

3128X0R27

15493

Federal Agency Coupon Securities

Fair

145,000.00

5.000

142,531.22 09/28/2007

4.999

03/10/2016

3,083

3128X0KT5

17549

Federal Agency Coupon Securities

Fair

398,744.29

5.200

396,203.61 09/28/2007

5.248

11/25/2015

2,977

3128X5N87

18085

Federal Agency Coupon Securities

Fair

250,000.00

6.000

250,733.49 09/28/2007

6.000

03/23/2022

5,287

3128X2X67

15185

Federal Agency Coupon Securities

Fair

76,000.00

5.500

75,160.89 09/28/2007

5.500

04/08/2019

4,207

3128X5N87

18086

Federal Agency Coupon Securities

Fair

1,116,000.00

6.000

1,119,274.30 09/28/2007

6.000

03/23/2022

5,287

09/23/2008

3128X6GB6

18567

Federal Agency Coupon Securities

Fair

390,910.98

6.500

395,001.91 09/28/2007

6.530

07/25/2022

5,411

07/25/2008

3128X2X67

15186

Federal Agency Coupon Securities

Fair

570,000.00

5.500

563,706.66 09/28/2007

5.500

04/08/2019

4,207

3128X2P66

15392

Federal Agency Coupon Securities

Fair

80,000.00

5.310

79,778.88 09/28/2007

5.309

03/24/2014

2,366

3128X2P66

16276

Federal Agency Coupon Securities

Fair

400,000.00

5.310

398,894.41 09/28/2007

5.309

03/24/2014

2,366

3128X5N87

18087

Federal Agency Coupon Securities

Fair

250,000.00

6.000

250,733.49 09/28/2007

6.000

03/23/2022

5,287

3128X1AR8

17545

Federal Agency Coupon Securities

Fair

501,691.01

5.125

498,649.98 09/28/2007

5.052

05/13/2013

2,051

Data Updated: SET_85IC: 11/01/2007 15:38 Run Date: 11/01/2007 - 15:38

09/23/2008

09/23/2008

09/23/2008

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Res DSRF Merged Investments by Issuer Sorted by Fund

CUSIP

Investment #

Security Type

Investmen t

3128X5N87

18088

Federal Agency Coupon Securities

3128X5N87

18093

Federal Agency Coupon Securities

Page 3 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

250,000.00

6.000

250,733.49 09/28/2007

6.000

03/23/2022

5,287

09/23/2008

Fair

249,924.53

6.000

250,733.49 09/28/2007

6.003

03/23/2022

5,287

09/23/2008

Subtotal and Average

Market Value

Market Date

22,124,179.24

22,030,297.95

5.775

Call Date Collateral

4,032

Federal National Mortgage Admi 3136F2T24

15459

Federal Agency Coupon Securities

Fair

400,000.00

5.250

391,250.00 09/28/2007

5.249

07/30/2018

3,955

3136F6N62

16062

Federal Agency Coupon Securities

Fair

1,000,000.00

6.000

1,000,312.50 09/28/2007

6.000

04/06/2020

4,571

3136F6N62

16063

Federal Agency Coupon Securities

Fair

3,000,000.00

6.000

3,000,937.50 09/28/2007

6.000

04/06/2020

4,571

3136F8MX0

18409

Federal Agency Coupon Securities

Fair

1,982,588.60

6.000

1,987,500.00 09/28/2007

8.516

06/06/2022

5,362

313586UB3

10378

Federal Agency Coupon Securities

Fair

6,729,449.04

10.350

9,018,056.25 09/28/2007

10.006

12/10/2015

2,992

3136F3YS9

14138

Federal Agency Coupon Securities

Fair

199,775.98

5.000

193,562.50 09/28/2007

5.015

07/02/2018

3,927

3136F3N51

14236

Federal Agency Coupon Securities

Fair

305,000.00

5.250

298,423.44 09/28/2007

5.250

07/16/2018

3,941

3136F2T24

16666

Federal Agency Coupon Securities

Fair

396,855.65

5.250

391,250.00 09/28/2007

5.350

07/30/2018

3,955

313586YX1

10395

Federal Agency Coupon Securities

Fair

2,500,000.00

8.950

3,297,656.25 09/28/2007

8.950

02/12/2018

3,787

3136F3BN5

13582

Federal Agency Coupon Securities

Fair

500,170.14

5.000

496,562.50 09/28/2007

4.992

03/11/2013

1,988

3136F3N51

14237

Federal Agency Coupon Securities

Fair

100,000.00

5.250

97,843.75 09/28/2007

5.250

07/16/2018

3,941

3136F3DM5

15456

Federal Agency Coupon Securities

Fair

150,000.00

5.125

146,296.88 09/28/2007

5.124

04/09/2018

3,843

31364FPD7

10312

Federal Agency Coupon Securities

Fair

1,977,689.84

6.000

2,175,263.98 09/28/2007

6.224

01/21/2028

7,417

01/21/2008

31364FPY1

10370

Federal Agency Coupon Securities

Fair

2,076,170.31

5.920

2,203,513.75 09/28/2007

6.000

01/25/2013

1,943

01/25/2013

313586UV9

10379

Federal Agency Coupon Securities

Fair

7,494,655.60

8.200

8,569,725.00 09/28/2007

6.760

03/10/2016

3,083

Subtotal and Average

28,812,355.16

33,268,154.30

7.519

12/06/2007

3,728

United States Treasury 912810DY1

11562

Treasury Coupon Securities

Fair

627,182.97

8.750

833,581.88 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11575

Treasury Coupon Securities

Fair

563,123.77

8.125

712,467.50 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11563

Treasury Coupon Securities

Fair

436,947.38

8.750

580,741.88 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11576

Treasury Coupon Securities

Fair

393,260.11

8.125

497,555.00 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11619

Treasury Coupon Securities

Fair

7,400,051.50

8.750

9,718,537.50 09/28/2007

8.695

05/15/2017

3,514

912810DX3

11620

Treasury Coupon Securities

Fair

7,633,722.75

7.500

9,474,562.50 09/28/2007

7.906

11/15/2016

3,333

912810DY1

11622

Treasury Coupon Securities

Fair

993,611.37

8.750

1,315,558.13 09/28/2007

8.853

05/15/2017

3,514

912810DY1

11623

Treasury Coupon Securities

Fair

6,815,497.91

8.750

9,000,840.63 09/28/2007

8.803

05/15/2017

3,514

912810ED6

11625

Treasury Coupon Securities

Fair

143,460.34

8.125

181,047.50 09/28/2007

8.135

08/15/2019

4,336

912810DZ8

11628

Treasury Coupon Securities

Fair

6,287,485.19

8.875

7,995,000.00 09/28/2007

8.650

08/15/2017

3,606

912810DB1

10369

Treasury Coupon Securities

Fair

17,661,823.69

10.375

17,818,125.00 09/28/2007

10.427

10/03/2007

2

912810EA2

10397

Treasury Coupon Securities

Fair

6,745,617.37

9.125

9,215,893.75 09/28/2007

9.067

05/15/2018

3,879

912810DX3

10384

Treasury Coupon Securities

Fair

3,183,879.88

7.500

3,911,293.75 09/28/2007

7.776

11/15/2016

3,333

912810EQ7

10001

Treasury Coupon Securities

Fair

5,276,081.83

6.250

6,345,695.00 09/28/2007

6.891

08/15/2023

5,797

912810DY1

11551

Treasury Coupon Securities

Fair

854,078.55

8.750

1,135,146.25 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11564

Treasury Coupon Securities

Fair

767,989.64

8.125

971,665.00 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11552

Treasury Coupon Securities

Fair

762,923.99

8.750

1,013,993.75 09/28/2007

8.928

05/15/2017

3,514

Data Updated: SET_85IC: 11/01/2007 15:38 Run Date: 11/01/2007 - 15:38

11/15/2007

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

1985 Res DSRF Merged Investments by Issuer Sorted by Fund

CUSIP

Investment #

Security Type

Investmen t

912810ED6

11565

Treasury Coupon Securities

912810DY1

11553

Treasury Coupon Securities

912810ED6

11566

912810DY1

Page 4 YTM/C Redemption Days To Date Maturity 365

Book Value

Current Rate

Fair

685,631.50

8.125

867,465.00 09/28/2007

8.140

08/15/2019

4,336

Fair

889,747.72

8.750

1,182,553.75 09/28/2007

8.928

05/15/2017

3,514

Treasury Coupon Securities

Fair

775,186.65

8.125

1,010,740.00 09/28/2007

8.140

08/15/2019

4,336

11554

Treasury Coupon Securities

Fair

613,311.62

8.750

815,145.63 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11567

Treasury Coupon Securities

Fair

534,439.25

8.125

696,837.50 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11555

Treasury Coupon Securities

Fair

756,979.13

8.750

1,006,092.50 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11568

Treasury Coupon Securities

Fair

660,307.18

8.125

860,952.50 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11556

Treasury Coupon Securities

Fair

444,873.86

8.750

591,276.88 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11569

Treasury Coupon Securities

Fair

399,436.97

8.125

505,370.00 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11557

Treasury Coupon Securities

Fair

288,325.82

8.750

383,210.63 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11570

Treasury Coupon Securities

Fair

258,398.66

8.125

326,927.50 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11558

Treasury Coupon Securities

Fair

225,904.77

8.750

300,247.50 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11571

Treasury Coupon Securities

Fair

202,806.92

8.125

256,592.50 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11559

Treasury Coupon Securities

Fair

447,846.29

8.750

595,227.50 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11572

Treasury Coupon Securities

Fair

402,525.40

8.125

509,277.50 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11560

Treasury Coupon Securities

Fair

31,705.93

8.750

42,140.00 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11573

Treasury Coupon Securities

Fair

28,825.35

8.125

36,470.00 09/28/2007

8.140

08/15/2019

4,336

912810DY1

11561

Treasury Coupon Securities

Fair

495,405.19

8.750

658,437.50 09/28/2007

8.928

05/15/2017

3,514

912810ED6

11574

Treasury Coupon Securities

Fair

445,763.43

8.125

563,982.50 09/28/2007

8.140

08/15/2019

4,336

Subtotal and Average Total and Average

Data Updated: SET_85IC: 11/01/2007 15:38 Run Date: 11/01/2007 - 15:38

75,134,159.88 135,528,392.31

Market Value

Market Date

91,930,651.91

8.873

2,931

156,836,288.59

7.865

3,352

Call Date Collateral

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 RES DSRF SUMMARY Investments by All Types Active Investments September 30, 2007 CUSIP

Investment #

Fund

Issuer

Par Value

Purchase Price

Book Value

Current Rate

Maturity Date

Call Date

Call Price

Federal Agency Coupon Securities Subtotal

59,905,000.00

60,394,232.43

Subtotal

75,247,000.00

75,134,159.88

Total

135,152,000.00

Treasury Coupon Securities

Data Updated: SET_85SM: 11/01/2007 15:40 Run Date: 11/01/2007 - 15:40

135,528,392.31

Portfolio TH08 AC AT (PRF_DT) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 RES DSRF SUMMARY Interest Earnings Sorted by Fund - Fund July 1, 2007 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2000-1 DSRF (6076007141) Subtotal

1,430,000.00

1,440,273.84

1,440,339.50

7.978

28,797.88

165.76

28,963.64

Subtotal

1,073,000.00

1,079,862.47

1,079,910.94

7.806

21,125.41

120.98

21,246.39

Subtotal

32,212,000.00

32,329,965.97

32,331,413.08

8.062

654,168.08

2,863.09

657,031.17

Subtotal

1,452,000.00

1,452,000.00

1,452,000.00

5.718

20,927.50

0.00

20,927.50

Subtotal

5,785,000.00

5,785,000.00

5,785,000.00

5.695

83,047.87

0.00

83,047.87

Subtotal

2,295,000.00

2,291,776.39

2,293,989.49

5.342

30,882.50

3.89

30,886.39

Subtotal

6,927,000.00

6,791,965.76

6,873,877.60

5.771

99,610.58

371.41

99,981.99

Subtotal

3,040,000.00

2,980,888.67

3,010,667.90

6.070

45,476.67

588.31

46,064.98

Subtotal

3,590,000.00

0.00

1,870,053.31

6.011

28,257.33

74.04

28,331.37

Subtotal

39,444,000.00

37,215,740.30

36,850,687.60

9.307

865,870.37

-1,414.67

864,455.70

Fund: 2000-2 DSRF (6076007203)

Fund: 2001-1 DSRF (6076007267)

Fund: 2002-1 DSRF (6076007445)

Fund: 2002-2 DSRF (6076007506)

Fund: 2004-3 DSRF (6076011626)

Fund: 2006-3 DSRF (106597050)

Fund: 2007-2 DSR (111459150)

Fund: 2007-3 DSR (111459250)

Fund: 1985 A-L DSRF (6076006026)

Data Updated: SET_85SM: 11/01/2007 15:40 Run Date: 11/01/2007 - 15:40

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

1985 RES DSRF SUMMARY Interest Earnings July 1, 2007 - September 30, 2007

Page 2

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1991 W/X DSRF (6076006080) Subtotal

5,720,000.00

5,682,882.87

5,683,386.79

8.219

116,735.76

997.01

117,732.77

Subtotal

7,332,000.00

7,093,341.18

7,095,452.83

7.153

123,744.47

4,177.87

127,922.34

Subtotal

2,300,000.00

2,311,546.52

2,311,659.82

7.229

41,893.80

224.15

42,117.95

Subtotal

3,252,000.00

3,242,879.01

3,242,992.98

6.945

56,543.91

225.50

56,769.41

Subtotal

1,202,000.00

1,195,590.05

1,195,671.33

8.400

25,155.92

160.82

25,316.74

Subtotal

2,401,000.00

2,391,793.57

2,391,913.37

7.231

43,358.55

237.03

43,595.58

Subtotal

3,302,000.00

2,914,912.54

3,203,931.01

6.637

53,412.09

190.03

53,602.12

Subtotal

4,624,000.00

4,599,960.23

4,600,275.82

6.291

72,319.00

624.40

72,943.40

Subtotal

8,060,000.00

8,559,008.68

8,551,754.13

6.660

157,914.50

-14,353.08

143,561.42

Subtotal

675,000.00

678,652.45

678,682.39

7.500

12,771.50

59.24

12,830.74

Subtotal

843,000.00

850,254.24

850,313.61

8.404

17,894.08

117.45

18,011.53

Subtotal

560,000.00

562,289.23

562,255.40

5.372

7,679.61

-66.94

7,612.67

Subtotal

1,433,000.00

1,441,170.25

1,441,218.46

7.552

27,304.11

131.23

27,435.34

Fund: 1995-1 DSRF (6076006268)

Fund: 1996-1 DSRF (6076006320)

Fund: 1996-2 DSRF (6076006384)

Fund: 1996-3 DSR (6076006437)

Fund: 1996-4 DSRF (6076006473)

Fund: 1996-5 DSRF (6076006534)

Fund: 1997-1 DSRF (6076006598)

Fund: 1997-3 DSRF (6076006721)

Fund: 1998-1 DSRF (6076006785)

Fund: 1998-2 DSRF (6076006847)

Fund: 1999-2 DSRF (6076007025)

Fund: 1999-3 DSRF (6076007089)

Data Updated: SET_85SM: 11/01/2007 15:40 Run Date: 11/01/2007 - 15:40

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

1985 RES DSRF SUMMARY Interest Earnings July 1, 2007 - September 30, 2007

Page 3

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer Total

Data Updated: SET_85SM: 11/01/2007 15:40 Run Date: 11/01/2007 - 15:40

Ending Par Value 138,952,000.00

Beginning Book Value 132,891,754.22

Average Book Value 134,797,447.36

Maturity Current Annualized Date Rate Yield 7.742

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

2,634,891.49

-4,502.48

2,630,389.01

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 RES DSRF SUMMARY Interest Earnings Sorted by Fund - Fund October 1, 2006 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2000-1 DSRF (6076007141) Subtotal

1,430,000.00

1,189,654.26

1,318,126.41

8.202

107,456.25

655.13

108,111.38

Subtotal

1,073,000.00

829,752.84

957,737.11

8.094

77,047.91

467.56

77,515.47

Subtotal

32,212,000.00

31,921,470.03

32,149,753.84

8.133

2,603,263.76

11,359.03

2,614,622.79

Subtotal

1,452,000.00

1,452,000.00

1,452,000.00

5.765

83,710.00

0.00

83,710.00

Subtotal

5,785,000.00

5,785,000.00

5,785,000.00

5.742

332,191.50

0.00

332,191.50

Subtotal

2,295,000.00

2,026,000.00

2,165,511.87

5.351

115,873.97

7.77

115,881.74

Subtotal

6,927,000.00

0.00

4,775,998.23

5.836

277,629.24

1,078.37

278,707.61

Subtotal

3,040,000.00

0.00

829,534.92

6.082

49,809.99

643.64

50,453.63

Subtotal

3,590,000.00

0.00

471,355.90

6.011

28,257.33

74.04

28,331.37

Subtotal

39,444,000.00

35,949,909.38

36,329,208.32

9.423

3,428,970.23

-5,730.97

3,423,239.26

Fund: 2000-2 DSRF (6076007203)

Fund: 2001-1 DSRF (6076007267)

Fund: 2002-1 DSRF (6076007445)

Fund: 2002-2 DSRF (6076007506)

Fund: 2004-3 DSRF (6076011626)

Fund: 2006-3 DSRF (106597050)

Fund: 2007-2 DSR (111459150)

Fund: 2007-3 DSR (111459250)

Fund: 1985 A-L DSRF (6076006026)

Data Updated: SET_85SM: 11/01/2007 15:43 Run Date: 11/01/2007 - 15:43

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

1985 RES DSRF SUMMARY Interest Earnings October 1, 2006 - September 30, 2007

Page 2

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1991 W/X DSRF (6076006080) Subtotal

5,720,000.00

5,679,924.33

5,681,907.53

8.258

465,250.00

3,955.55

469,205.55

Subtotal

7,332,000.00

7,080,943.18

7,089,253.88

7.169

491,687.50

16,575.87

508,263.37

Subtotal

2,300,000.00

2,313,119.51

2,311,664.30

7.269

167,136.50

890.05

168,026.55

Subtotal

3,252,000.00

2,993,015.68

3,124,295.58

7.022

218,497.83

894.39

219,392.22

Subtotal

1,202,000.00

1,195,112.81

1,195,432.72

8.441

100,271.25

638.06

100,909.31

Subtotal

2,401,000.00

2,144,671.16

2,273,607.81

7.335

165,832.08

941.66

166,773.74

Subtotal

3,302,000.00

919,848.02

2,144,087.06

6.957

148,564.09

602.46

149,166.55

Subtotal

4,624,000.00

4,598,089.49

4,599,342.03

6.340

289,110.65

2,495.14

291,605.79

Subtotal

8,060,000.00

8,602,067.91

8,573,242.47

6.698

631,658.00

-57,412.31

574,245.69

Subtotal

675,000.00

428,476.67

560,101.35

7.860

43,789.58

235.02

44,024.60

Subtotal

843,000.00

849,905.74

850,139.36

8.444

71,318.75

465.95

71,784.70

Subtotal

560,000.00

567,757.71

562,976.28

5.406

30,700.00

-268.06

30,431.94

Subtotal

1,433,000.00

940,653.14

1,200,563.46

7.905

94,389.58

518.13

94,907.71

Fund: 1995-1 DSRF (6076006268)

Fund: 1996-1 DSRF (6076006320)

Fund: 1996-2 DSRF (6076006384)

Fund: 1996-3 DSR (6076006437)

Fund: 1996-4 DSRF (6076006473)

Fund: 1996-5 DSRF (6076006534)

Fund: 1997-1 DSRF (6076006598)

Fund: 1997-3 DSRF (6076006721)

Fund: 1998-1 DSRF (6076006785)

Fund: 1998-2 DSRF (6076006847)

Fund: 1999-2 DSRF (6076007025)

Fund: 1999-3 DSRF (6076007089)

Data Updated: SET_85SM: 11/01/2007 15:43 Run Date: 11/01/2007 - 15:43

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

1985 RES DSRF SUMMARY Interest Earnings October 1, 2006 - September 30, 2007

Page 3

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer Total

Data Updated: SET_85SM: 11/01/2007 15:43 Run Date: 11/01/2007 - 15:43

Ending Par Value 138,952,000.00

Beginning Book Value 117,467,371.86

Average Book Value 126,400,840.42

Maturity Current Annualized Date Rate Yield 7.913

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

10,022,415.99

-20,913.52

10,001,502.47

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 RES DSRF SUMMARY Interest Earnings Sorted by Fund - Fund October 1, 2005 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 2000-1 DSRF (6076007141) Subtotal

1,430,000.00

1,189,001.79

1,253,727.66

8.319

207,287.50

1,307.60

208,595.10

Subtotal

1,073,000.00

829,298.18

893,631.62

8.258

146,672.91

922.22

147,595.13

Subtotal

32,212,000.00

31,910,110.95

32,032,779.94

8.145

5,195,527.51

22,718.11

5,218,245.62

Subtotal

1,452,000.00

1,452,000.00

1,452,000.00

5.765

167,420.00

0.00

167,420.00

Subtotal

5,785,000.00

5,785,000.00

5,785,000.00

5.742

664,383.00

0.00

664,383.00

Subtotal

2,295,000.00

2,026,000.00

2,095,755.93

5.334

223,560.98

7.77

223,568.75

Subtotal

6,927,000.00

0.00

2,387,999.11

5.836

277,629.24

1,078.37

278,707.61

Subtotal

3,040,000.00

0.00

414,767.46

6.082

49,809.99

643.64

50,453.63

Subtotal

3,590,000.00

0.00

235,677.95

6.011

28,257.33

74.04

28,331.37

Subtotal

39,444,000.00

34,044,617.25

35,719,026.45

9.490

6,790,949.66

-11,346.12

6,779,603.54

Fund: 2000-2 DSRF (6076007203)

Fund: 2001-1 DSRF (6076007267)

Fund: 2002-1 DSRF (6076007445)

Fund: 2002-2 DSRF (6076007506)

Fund: 2004-3 DSRF (6076011626)

Fund: 2006-3 DSRF (106597050)

Fund: 2007-2 DSR (111459150)

Fund: 2007-3 DSR (111459250)

Fund: 1985 A-L DSRF (6076006026)

Data Updated: SET_85SM: 11/01/2007 15:46 Run Date: 11/01/2007 - 15:46

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

1985 RES DSRF SUMMARY Interest Earnings October 1, 2005 - September 30, 2007

Page 2

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: 1991 W/X DSRF (6076006080) Subtotal

5,720,000.00

5,675,968.78

5,679,929.75

8.261

930,500.00

7,911.10

938,411.10

Subtotal

7,332,000.00

7,064,367.32

7,080,965.95

7.178

983,375.00

33,151.73

1,016,526.73

Subtotal

2,300,000.00

2,060,968.00

2,209,239.86

7.362

323,584.11

1,700.91

325,285.02

Subtotal

3,252,000.00

2,891,315.74

3,017,143.78

7.074

425,051.21

1,788.77

426,839.98

Subtotal

1,202,000.00

1,194,474.76

1,195,113.69

8.443

200,542.50

1,276.11

201,818.61

Subtotal

2,401,000.00

1,741,711.15

2,044,216.47

7.545

306,728.61

1,756.63

308,485.24

Subtotal

3,302,000.00

919,385.20

1,531,852.15

7.332

223,556.59

1,065.28

224,621.87

Subtotal

4,624,000.00

4,595,594.37

4,598,094.47

6.342

578,221.30

4,990.26

583,211.56

Subtotal

8,060,000.00

8,659,480.22

8,601,948.63

6.676

1,263,316.00

-114,824.62

1,148,491.38

Subtotal

675,000.00

428,241.65

494,230.42

8.115

79,745.83

470.04

80,215.87

Subtotal

843,000.00

849,439.80

849,906.38

8.446

142,637.50

931.89

143,569.39

Subtotal

560,000.00

60,465.25

357,593.27

5.599

40,330.56

-288.56

40,042.00

Subtotal

1,433,000.00

940,137.68

1,070,479.79

8.144

173,320.83

1,033.59

174,354.42

Fund: 1995-1 DSRF (6076006268)

Fund: 1996-1 DSRF (6076006320)

Fund: 1996-2 DSRF (6076006384)

Fund: 1996-3 DSR (6076006437)

Fund: 1996-4 DSRF (6076006473)

Fund: 1996-5 DSRF (6076006534)

Fund: 1997-1 DSRF (6076006598)

Fund: 1997-3 DSRF (6076006721)

Fund: 1998-1 DSRF (6076006785)

Fund: 1998-2 DSRF (6076006847)

Fund: 1999-2 DSRF (6076007025)

Fund: 1999-3 DSRF (6076007089)

Data Updated: SET_85SM: 11/01/2007 15:46 Run Date: 11/01/2007 - 15:46

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

1985 RES DSRF SUMMARY Interest Earnings October 1, 2005 - September 30, 2007

Page 3

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer Total

Data Updated: SET_85SM: 11/01/2007 15:46 Run Date: 11/01/2007 - 15:46

Ending Par Value 138,952,000.00

Beginning Book Value 114,317,578.09

Average Book Value 121,001,080.74

Maturity Current Annualized Date Rate Yield 8.008

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

19,422,408.16

-43,631.24

19,378,776.92

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Res DSRF Merged Purchases Report Sorted by Fund - Fund July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Sec. Type Issuer

850435

FAC FHLMC

Original Par Value

Purchase Date Payment Periods

Principal Purchased

Accrued Interest Rate at at Purchase Purchas

3,000.00 07/25/2007 01/25 - 07/25

2,991.56

6.500

3,000.00

2,991.56

Maturity/ YTM/YTC 365 Call Date

Ending Book Value

2004-3 DSRF (6076011626) 3128X6GB6

18568

Subtotal

07/25/2008

2,991.66 2,991.66

0.00

2006-3 DSRF (106597050) 3128X6GB6 3128X6KK1

18569 18625

850635 850635

FAC FHLMC FAC FHLMC Subtotal

105,000.00 07/25/2007 01/25 - 07/25 10,000.00 08/22/2007 02/22 - 08/22

104,704.69 9,968.75

115,000.00

114,673.44

6.500 6.400

07/25/2008 08/22/2008

6.728

104,708.30 9,968.98 114,677.28

0.00

2007-2 DSR (111459150) 3128X6GB6

18570

850725

FAC FHLMC Subtotal

40,000.00 07/25/2007 01/25 - 07/25

39,887.50

6.500

40,000.00

39,887.50

0.00

2,000,000.00 08/09/2007 12/21 - 06/21 1,000,000.00 08/20/2007 02/20 - 08/20 590,000.00 08/22/2007 02/22 - 08/22

1,993,750.00 1,000,000.00 588,156.25

16,000.00

3,590,000.00

3,581,906.25

16,000.00

24,000.00 07/25/2007 01/25 - 07/25 1,000,000.00 08/22/2007 02/22 - 08/22 1,300,000.00 09/14/2007 09/28 - At Maturity

23,932.50 996,875.00 1,300,000.00

2,324,000.00

2,320,807.50

07/25/2008

39,888.88 39,888.88

2007-3 DSR (111459250) 3128X6DF0 3133XLY31 3128X6KK1

18586 18622 18626

850735 850735 850735

FAC FHLMC FAC FHLB FAC FHLMC Subtotal

6.000 6.000 6.400

06/21/2022 02/20/2008 08/22/2008

6.031 6.000 6.728

2,009,810.72 1,000,000.00 588,169.57 3,597,980.29

1985 A-L DSRF (6076006026) 3128X6GB6 3128X6KK1 2007-09-14UBS

18571 18624 18673

8585R5 8585R5 8585R5

FAC FHLMC FAC FHLMC MC3 PW Subtotal

6.500 6.400 4.960

07/25/2008 08/22/2008 09/28/2007

6.796 6.728 5.029

23,933.33 996,897.57 0.00 1,020,830.90

0.00

1996-5 DSRF (6076006534) 3128X6GB6

18567

859655

Data Updated: SET_85IC: 11/01/2007 15:38 Run Date: 11/01/2007 - 15:38

FAC FHLMC

392,000.00 07/25/2007 01/25 - 07/25

390,897.50

6.500

07/25/2008

390,910.98

Subtotal

392,000.00

390,897.50

0.00

390,910.98

Total Purchases

6,464,000.00

6,451,163.75

16,000.00

5,167,279.99

Portfolio TH08 AC PU (PRF_PU) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Res DSRF Merged Sales/Call Report Sorted by Source - Security ID July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

Net Income

Sold By: External Transaction 31331QZ67

16446

8585R5

FFCB FAC

07/08/2005 09/14/2007 07/08/2015

1,000,000.00

4.900

999,184.18

962,500.00

8,983.33

971,483.33 Sale

-27,700.85

31331QZ67

16447

8585R5

FFCB FAC

07/08/2005 09/14/2007 07/08/2015

500,000.00

4.900

500,000.00

481,250.00

4,491.67

485,741.67 Sale

-14,258.33

3133XGB37

18317

8585R5

FHLB FAC

05/29/2007 07/27/2007 07/27/2016

1,000,000.00

7.000

1,026,276.50

1,000,000.00

35,000.00

1,035,000.00 Call

8,723.50

Data Updated: SET_85IC: 11/01/2007 15:38 Run Date: 11/01/2007 - 15:38

Subtotal

2,500,000.00

2,525,460.68

2,443,750.00

48,475.00

2,492,225.00

-33,235.68

Total Sales

2,500,000.00

2,525,460.68

2,443,750.00

48,475.00

2,492,225.00

-33,235.68

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

1985 Res DSRF Merged Maturity Report Sorted by Maturity Date Amounts due during July 1, 2007 - September 30, 2007

CUSIP

Investment #

Fund

Sec. Type Issuer

2007-09-14UBS

18673

8585R5

MC3 PW Total Maturities

Data Updated: SET_85IC: 11/01/2007 15:38 Run Date: 11/01/2007 - 15:38

Par Value

Maturity Date

1,300,000.00 09/28/2007 1,300,000.00

Purchase Rate Date at Maturity 09/14/2007

4.960

Book Value at Maturity

Interest

Maturity Proceeds

Net Income

1,300,000.00

2,507.56

1,302,507.56

2,507.56

1,300,000.00

2,507.56

1,302,507.56

2,507.56

Portfolio TH08 AC MA (PRF_MA) SymRept 6.41.202b Report Ver. 5.00

ESCROW FUND DESCRIPTION THDA has established an escrow fund for the purpose of holding funds that do not belong to THDA but in which the agency has an interest. The Escrow Fund in the 1974 Bond Resolution holds reserves and interest earnings for multi-family developments financed by THDA in the late 1970’s and early 1980’s. There are currently 28 multi-family mortgages outstanding and therefore 28 developments that have funds in the escrow account. THDA administers the federally funded Section 8 Project-based rental assistance program, and these 28 developments are part of that program. Each month THDA receives mortgage payments from the properties. Out of these mortgage payments an amount is set aside and transferred to the escrow fund. Within the escrow fund amounts are allocated for the following purposes (distributions): • Property taxes - paid on behalf of the property annually • Insurance - paid on behalf of the property annually • Replacement Reserves – paid as needed for capital improvements, etc. The property must request a distribution from these funds and THDA staff must review the request to ensure it is an appropriate use of the reserves. • Earnings Distributions - The owners of these developments are allowed to withdraw a portion of their interest earnings at the end of each calendar year for earnings distributions for themselves and their partners. THDA attempts to maximize earnings in this portfolio by investing most of the funds in longer-term instruments, while maintaining sufficient liquidity to meet the financial requirements of these distributions.

THDA QUARTERLY INVESTMENT REPORT ESCROW FUNDS September 30, 2007 Historical Fund Balances

6/30/05 6/30/06 6/30/07 9/30/07 Historical Returns (Yield) 1974 Resolution 1985 Resolution

1974 Resolution

1985 Resolution

Amortized Cost 13,183,324.60 13,321,984.31 10,245,563.66 8,981,268.95

Market Value 13,142,792.64 12,848,174.77 10,024,286.10 8,923,173.78

Quarter ending 9/30/2007 4.577% N/A

Current Fiscal Year 4.577% N/A

Last 12 Months 4.533% N/A

4.523% 4.407% 4.503%

4.523% 4.407% 4.503%

4.863% 4.625% 4.672%

Benchmarks: (1) One-year CMT (2) Three-year CMT (3) Five-year CMT Duration Average Duration to Maturity (Years) Average Duration to Call (Years)

Money Market Funds Federal Agency Coupons THDA Securities Repurchase Agreements Discount Bonds Total

Market Value N/A N/A N/A N/A Last 24 Months 4.522% N/A 4.810% 4.665% 4.685%

1974 Resolution 1985 Resolution

5.4 2.6 1974 Resolution

Asset Allocation

Amortized Cost N/A N/A N/A N/A

Dollar value* 298,719.11 8,682,549.84 8,981,268.95

Percentage 3.33% 96.67% 0.00% 0.00% 0.00% 100.00%

N/A N/A 1985 Resolution

Dollar value* N/A N/A N/A N/A N/A N/A

*Dollar values are stated as book (amortized cost) value.

Percentage N/A N/A N/A N/A N/A N/A

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

Escrow Fund Investments by Issuer Active Investments Sorted by Maturity Date September 30, 2007 CUSIP

Investment #

Security Type

Investmen t

Book Value

Current Rate

Market Value

Market Date

YTM/C Redemption Days To Date Maturity 365

Call Date Collateral

Federal Home Loan Bank 31339YR87

14483

Federal Agency Coupon Securities

Fair

2,500,000.00

3.500

2,475,781.25 09/28/2007

3.500

08/05/2008

309

3133X5QY7

15359

Federal Agency Coupon Securities

Fair

162,500.00

3.150

147,773.44 09/28/2007

3.150

03/28/2014

2,370

31339YTF9

14377

Federal Agency Coupon Securities

Fair

1,936,216.62

6.500

1,975,000.00 09/28/2007

7.107

08/06/2015

2,866

31339XPQ1

14117

Federal Agency Coupon Securities

Fair

2,983,224.83

4.000

2,937,187.50 09/28/2007

4.192

06/26/2018

3,921

31339Y2A9

14252

Federal Agency Coupon Securities

Fair

598,920.83

4.000

590,062.50 09/28/2007

4.022

07/16/2018

3,941

Subtotal and Average

8,180,862.28

8,125,804.69

4.637

12/26/2007

2,538

Federal Home Loan Mortgage Cor 3128X1AR8

15141

Federal Agency Coupon Securities

Fair

Subtotal and Average Total and Average

Data Updated: SET_ESCR: 11/01/2007 13:15 Run Date: 11/01/2007 - 13:15

501,687.56 501,687.56 8,682,549.84

5.125

498,649.98 09/28/2007

5.048

05/13/2013

2,051

498,649.98

5.048

2,051

8,624,454.67

4.661

2,510

Portfolio TH08 AC DI (PRF_DI) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

Escrow Fund (Summary) Investments by All Types Active Investments September 30, 2007 CUSIP

Investment #

Fund

Issuer

Par Value

Purchase Price

Book Value

Current Rate

Maturity Date

Call Date

Call Price

Federal Agency Coupon Securities

Data Updated: SET_ESC2: 11/01/2007 13:18 Run Date: 11/01/2007 - 13:18

Subtotal

8,762,500.00

Total

8,762,500.00

8,682,549.84 8,682,549.84

Portfolio TH08 AC AT (PRF_DT) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

Escrow Fund (Summary) Interest Earnings Sorted by Fund - Fund July 1, 2007 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: ESCROW FUND (6076005456)

Data Updated: SET_ESC2: 11/01/2007 13:18 Run Date: 11/01/2007 - 13:18

Subtotal

9,762,500.00

9,686,411.84

8,893,936.75

4.577

100,222.87

2,388.00

102,610.87

Total

9,762,500.00

9,686,411.84

8,893,936.75

4.577

100,222.87

2,388.00

102,610.87

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

Escrow Fund (Summary) Interest Earnings Sorted by Fund - Fund October 1, 2006 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: ESCROW FUND (6076005456)

Data Updated: SET_ESC2: 11/01/2007 13:26 Run Date: 11/01/2007 - 13:26

Subtotal

9,762,500.00

9,698,064.64

9,493,197.91

4.533

420,826.61

9,485.20

430,311.81

Total

9,762,500.00

9,698,064.64

9,493,197.91

4.533

420,826.61

9,485.20

430,311.81

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

Escrow Fund (Summary) Interest Earnings Sorted by Fund - Fund October 1, 2005 - September 30, 2007 Yield on Average Book Value

Adjusted Interest Earnings CUSIP

Investment #

Fund

Issuer

Ending Par Value

Beginning Book Value

Average Book Value

Maturity Current Annualized Date Rate Yield

Interest Earned

Amortization/ Accretion

Adjusted Interest Earnings

Fund: ESCROW FUND (6076005456)

Data Updated: SET_ESC2: 11/01/2007 13:27 Run Date: 11/01/2007 - 13:27

Subtotal

9,762,500.00

9,713,579.46

9,600,955.31

4.522

849,343.48

18,970.38

868,313.86

Total

9,762,500.00

9,713,579.46

9,600,955.31

4.522

849,343.48

18,970.38

868,313.86

Portfolio TH08 AC IE (PRF_IE) SymRept 6.41.202b Report Ver. 5.00

THDA 404 James Robertson Parkway Suite 1114 Nashville, TN 37219 (615)741-2400

Escrow Fund Sales/Call Report Sorted by Source - Security ID July 1, 2007 - September 30, 2007 CUSIP

Investment #

Fund

Issuer Sec. Type

Redem. Date Purchase DateMatur. Date

Par Value

04/15/2004 09/28/2007 03/28/2014

6,250.00

Rate at Redem.

Book Value at Redem.

Redemption Principal

Redemption Interest

Total Amount

6,250.00

6,250.00

1,328.91

7,578.91 Call

1,328.91

6,250.00

6,250.00

1,328.91

7,578.91

1,328.91

1,000,000.00

982,500.00

16,041.67

998,541.67 Sale

-1,458.33

Net Income

Sold By: External Transaction 3133X5QY7

15359

OP0006

FHLB FAC

Subtotal

3.150

6,250.00

Sold By: 1974 Bond Resolution 31339YR87

14717

OP0006

Data Updated: SET_ESCR: 11/01/2007 13:15 Run Date: 11/01/2007 - 13:15

FHLB FAC

10/31/2003 07/20/2007 08/05/2008

1,000,000.00

3.500

Subtotal

1,000,000.00

1,000,000.00

982,500.00

16,041.67

998,541.67

-1,458.33

Total Sales

1,006,250.00

1,006,250.00

988,750.00

17,370.58

1,006,120.58

-129.42

Portfolio TH08 AC SA (PRF_SA) SymRept 6.41.202b Report Ver. 5.00

ARBITRAGE DESCRIPTION Arbitrage, in part is defined as “the simultaneous purchase and sale of the same or equivalent security in order to profit from price discrepancies”. This relates to THDA as it is applied to the use of proceeds from tax-exempt bonds, specifically the use of such bond proceeds or earnings from such proceeds to purchase taxable non-mortgage investments. Any excess earnings over the cost of borrowing (bond rate) are arbitrage earnings and must be rebated to the Internal Revenue Service. This is a net calculation and is computed annually. Attached is a spreadsheet showing the arbitrage liability by bond issue as of 6/30/06. Every five years, on the anniversary date of each bond issue, for the life of the bond issue, cash settlement has to be made with the IRS. If earnings for a five-year period are less than what the investments would have earned at the bond rate, no payment is due the IRS. If the earnings are more than what would have been earned at the bond rate, cash payment of the excess must be paid to the IRS. THDA has contracted with Kutak Rock to make these complex calculations. From an Investment management performance measurement standpoint, THDA knows that if there is a rebate liability for a bond issue, then the agency has maximized earnings for that particular issue. This is probably the best benchmark of all because as mentioned above any earnings in excess of bond cost cannot be retained by the agency.

Tennessee Housing Development Agency Rebate Activity As of June 30, 2007

Bond Issue 95B/C 2003A 1985 A-L 95-1 96-1 96-2 96-3 96-4 96-5 97-1 97-2 97-3 98-1 98-2 98-3 99-1 99-2 99-3 00-1 00-2 01-1 01-2 01-3 02-1 02-2 02-3 03-1 03-2 03-3 04-1 04-2 04-3 05-1 05-2 06-1 06-2 CN 2004 TOTAL

Liability per General Ledger 0.00 0.00 0.00 15,474.15 0.00 0.00 100,086.47 0.00 72,441.81 75,348.46 0.00 302,127.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 850,489.69 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23,264.59 0.00 0.00 94,169.25 1,533,402.35