| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 500M AT&T, INC. | 503,937 | 536,830 |
| 1865M PFIZER, INC. | 0 | 0 |
| 500M MERRILL LYNCH & CO., INC. | 506,603 | 543,750 |
| 250M GENL ELECTRIC CAP CORP NOTE | 258,089 | 331,822 |
| 500M GOLDMAN SACHS GROUP INC | 482,896 | 568,440 |
| 500M VALERO ENERGY CORP NOTES | 0 | 0 |
| JPMORGAN CHASE & CO. 5.3% | 690,746 | 688,878 |
| 50000 BANK OF AMERICA | 52,550 | 52,550 |
| 50000 CITIGROUP INC | 51,675 | 51,675 |
| 50000 JPMORGAN CHASE | 54,261 | 54,261 |