M U N I C I P A L  B O N D  I N V E N T O R Y

Good Morning from the Sterne, Agee & Leach Municipal Bond Dept.

Listed by Maturity Date

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Last Update: 03/19/2010

Alaska Alabama Arkansas Arizona California Colorado Connecticut District of Columbia Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming

Rating Moody/S&P	Quantity	Description	State	Cpn	Maturity	Price	YTC	YTM
A1 / NR	65000	ATLANTA GA DEVELOPMENT - AUTH EDUCATIONAL FACS - REV SCIENCE PARK LLC B/E	GA	4.50	07-01-2011	104.391		1.00
AA2 / A	25000	ATLANTA GA DEV AUTH REV - YAMACRAW DESIGN CENTER - PROJ SER A NPFG B/E	GA	5.38	01-01-2012P	107.640	1.00		Yield to pre-refunded date
AA3 / AA-	50000	ALABAMA JUDICIAL - BUILDING AUTHORITY REV - B/E NPFG	AL	4.25	11-01-2012	108.319		1.00
A1 / NR	25000	UNIVERSITY SOUTH AL UNIV - REV RFDG & CAP IMPT - TUITION FGIC MBIA RE	AL	5.00	03-15-2013	110.136		1.50
A1 / AA	25000	HOOVER AL BRD ED CAP - OUTLAY WTS NPFG TAX - ANTIC WTS B/E	AL	5.25	02-15-2014	103.750	1.00	4.19	Yield to Call
		[ Call 02-15-2011@100.000 ]
AA3 / AA-	25000	UNIVERSITY AL UNIV - OID@99.3270 4.44% - REV FGIC B/E	AL	4.38	12-01-2015	107.058	1.30	3.01	Yield to Call
		[ Call 12-01-2011@102.000 ]
		[ Call 12-01-2013@100.000 ]
AA3 / AA-	25000	ALABAMA ST FDLAID HWY RV - FIN ATH GRANT ANTIC SR A - NPFG B/E OID@99.475 5.05	AL	5.00	03-01-2017	107.140	1.25	3.82	Yield to Call
		[ Call 03-01-2012@100.000 ]
AA3 / AA-	10000	COLUMBUS GA WTR & SWR RV - REF NPFG B/E - CPN 4.000% DUE 05/01/17	GA	4.00	05-01-2017	106.815	2.25	2.93	Yield to Call
		[ Call 05-01-2014@100.000 ]
AA3 / A+	30000	CULLMAN AL WARRANTS AGM - B/E - CPN 5.000% DUE 07/01/18	AL	5.00	07-01-2018	110.142	3.20	3.57	Yield to Call
		[ Call 07-01-2016@100.000 ]
NR / AAA	290000	CALCASIEU PARISH LA SCH - DIST NO 33 RFDG SER B - AGM B/E B/Q	LA	4.00	02-15-2021	104.121	3.50	3.54	Yield to Call
		[ Call 02-15-2020@100.000 ]
AA3 / NR	25000	UNIVERSITY AR AUXILIARY - ENTERPRISES REV UALR - CAMPUS B/E	AR	5.00	10-01-2022	109.507	3.80	4.03	Yield to Call
		[ Call 10-01-2019@100.000 ]
A1 / AA	20000	MADISON AL WTS SER A - NPFG OID @98.593 5.1 - CPN 5.000% DUE 11/01/26	AL	5.00	11-01-2026	105.667	2.00	4.51	Yield to Call
		[ Call 11-01-2011@101.000 ]
		[ Call 11-01-2012@100.000 ]
A3 / NR	20000	ATKINSON CNTY COFFEE JT - DEV ATH GA REV SGC REAL - ESTATE FNDTN PJ B/E CIFG	GA	5.00	06-01-2034	100.000	5.00	5.00	Yield to Call
		[ Call 06-01-2017@100.000 ]
A2 / NR	15000	AMERICUS SUMTER GA B/E - PAYROLL DEV RV GSW UNIV - FNDTN HSG CIFG OID 4.87%	GA	4.63	06-01-2037	94.452		5.00
		[ Call 06-01-2016@100.000 ]
AA1 / AA+	25000	UNIVERSITY SOUTH AL UNIV - REV FACS CAPITAL IMPT - BHAC B/E OID@99.379 5.04	AL	5.00	08-01-2038	103.442	4.50	4.78	Yield to Call
		[ Call 08-01-2018@100.000 ]
A3 / A+	15000	BIRMINGHAM AL REV WTRWRK - &SWR BRD WTR SUB SER 07A - AMBAC B/E OID98.331 4.6%	AL	4.50	01-01-2039	92.408		5.00
		[ Call 01-01-2017@100.000 ]

End of Inventory Listing

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Disclaimer: The descriptive information is provided by an outside vendor used widely in the securities industry. However, we cannot guarantee its accuracy. Please call a Sterne Agee Financial Advisor to review the descriptive information prior to making a purchase. As of the time of creation of this list, Sterne, Agee & Leach, Inc. owned and offered these securities. As with any fixed income offering, these securities are offered subject to continued availability and are subject to change in price.
Note: Other call features may exist.