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CITY OF PLEASANTON INVESTMENT CONFORMITYANALYSIS AS OF MARCH 31, 2007 COMPLIANCE WITH STATE LAW AND INVESTMENT POLICY: As of March 31, 2007, all investments in the portfolio are authorized by State of California Government Section 53600 et. seq. and the City's investment policy. SECURITIES RATED BELOW "AA": None. MONTHLY INVESTMENT DECISIONS (excluding IAIF and money market funds): Purchases: Issuer Par Value Maturity Coupon Yield Date Federal Farm Credit Bank 1,000,000 03/02/09 5.000% 4.930% Federal Farm Credit Bank 1,000,000 07/20/07 5.375% 4.750% Federal Home Loan Bank 1,000,000 06/12/09 5.250% 4.770% Federal Home Loan Bank 1,670,000 05/08/09 4.500% 4.852% Federal National Mortgage Association 1,000,000 07/27/09 4.500% 4.785% Federal National Mortgage Association 1,500,000 03/09/09 4.300% 4.790% U.S. Treasury 1,000,000 06/15/09 4.000% 4.508% U.S. Treasury 1,000,000 05/15/09 3.875% 4.504% U.S. Treasury 1,000,000 08/15/09 3.500% 4.523% U.S. Treasury 1,000,000 06/15/09 4.000% 4.569% U.S. Treasury 1,000,000 07/15/09 3.625% 4.510% U.S. Treasury 2,000,000 09/13/07 4.850% 5.041% Maturities: Issuer Par Value Maturity Coupon Yield Date Federal Home Loan Mortgage Corporation 2,000,000 03/15/07 4.875% 3.840% Federal National Mortgage Association 2,000,000 03/14/07 3.100% 3.842% U. S. Treasury 3,000,000 03/31/07 3.750% 3.830% Federal National Mortgage Association 2,000,000 03/02/07 3.000% 3.937% CURRENT INVESTMENT STRATEGY: Pleasanton has been investing on a two year ladder strategy with a mix of government agency and treasury securities as excess cash is available. In March some purchases were made with maturities less than two years to take advantage of higher interest rate returns.