RE: $54,965,000*
California Municipal Finance Authority
Revenue Bonds,
Emerson College Issue, Series 2011

Expected to price the following issue on Thursday.

MOODY’S: Baa1               S&P: BBB+               FITCH:

DATED:12/08/2011   FIRST COUPON:07/01/2012

DUE: 01/01

The compliance addendum MSRB Rule G-11 will apply.

Delivery is firm for Thursday, December 8, 2011.

This Issue is book entry. This issue is clearing through DTC.

For More information contact:

Barclays Capital
Citigroup Global Markets Inc

By: Barclays Capital  New York, NY

$79,000,000*
West Contra Costa Unified School District, CA General Obligation Bonds, Election of 2010, Series 2011A
===  Added an AGM insured term in 2035 ===

MOODY’S: Aa3/Aa3             S&P: AA+/A+              FITCH: A+

Assured Guaranty Municipal Corp. Insured

DATED:11/22/2011   FIRST COUPON:02/01/2012

DUE: 08/01

Delivery is firm for Tuesday, November 22, 2011.

This Issue is book entry. This issue is clearing through DTC.

Piper Jaffray
De La Rosa & Co.

By: Piper Jaffray  San Francisco, CA

RE: $53,855,000*
PERALTA COMMUNITY COLLEGE DISTRICT
(Alameda County, California)
2011 Taxable Refunding Bonds

*********************** ATTENTION **********************
THE BONDS ARE TAXABLE MUNICIPAL SECURITIES AND THIS OFFERING IS
SUBJECT TO REGULATION BY THE MUNICIPAL SECURITIES RULEMAKING BOARD. ALL
ACTIVITY UNDERTAKEN WITH RESPECT TO THIS OFFERING MUST BE SUPERVISED BY A
MUNICIPAL SECURITIES PRINCIPAL.

MOODY’S: A1                 S&P: A+                 FITCH: NR
(Stable)                (Negative)

DATED:10/28/2011   FIRST COUPON:02/01/2012

DUE: 08/01

The Award is expected on Tuesday, October 18, 2011.

Delivery is firm for Friday, October 28, 2011.

This Issue is book entry. This issue is clearing through DTC.

A reasonable number of preliminary statements are available from Image Master Financial
Publishing by calling (734)821-2525 or faxing at (734)821-2501.

J.P. Morgan Securities LLC

RE: $178,270,000*
COUNTY OF SACRAMENTO
TAXABLE PENSION OBLIGATION BONDS, SERIES 2011

MOODY’S: A3                 S&P: BBB+               FITCH: A-
(Stable)                (Stable)                  (Stable)

Rating Exceptions:
08/01/2023   MOODY’S: Aa3  S&P: AA+

DATED:09/28/2011   FIRST COUPON:02/01/2012

DUE: 08/01

The Award is expected on Thursday, September 22, 2011.

Delivery is firm for Wednesday, September 28, 2011.

This Issue is book entry. This issue is clearing through DTC.

Participation
J.P. Morgan Securities LLC
Morgan Stanley & Co. LLC

By: J.P. Morgan Securities LLC  New York, NY

RE: $2,506,900,000*
STATE OF CALIFORNIA
TAX-EXEMPT VARIOUS PURPOSE GENERAL OBLIGATION BONDS
TAX-EXEMPT GENERAL OBLIGATION REFUNDING BONDS

$1,259,900,000*
TAX-EXEMPT VARIOUS PURPOSE GENERAL OBLIGATION BONDS

MOODY’S: A1                 S&P: A-                 FITCH: A-

DATED:09/28/2011   FIRST COUPON:03/01/2012

DUE: 09/01

AND
$1,247,000,000*
TAX-EXEMPT GENERAL OBLIGATION REFUNDING BONDS

MOODY’S: A1                 S&P: A-                 FITCH: A-

DATED:09/28/2011   FIRST COUPON:03/01/2012

DUE: 03/01 & 09/01

The Award is expected on Tuesday, September 20, 2011.

Delivery is firm for Wednesday, September 28, 2011.

This Issue is book entry. This issue is clearing through DTC.

Bank of America Merrill Lynch
Stone & Youngberg LLC
Southwest Securities, Inc.
Alamo Capital
Backstrom McCarley Berry  & Co.,LLC
Barclays Capital
BMO Capital Markets GKST, Inc.
Cabrera Capital Markets, LLC
Citigroup Global Markets Inc
De La Rosa & Co.
Edward D. Jones & Co.
Fidelity Capital Markets
Goldman, Sachs & Co.
Greencoast Capital Partners LLC
Hutchinson, Shockey, Erley & Co.
J.P. Morgan Securities LLC
Jackson Securities, LLC
Jefferies & Company, Inc.
Morgan Keegan
Morgan Stanley & Co. LLC
O’Connor & Co. Securities Inc.
Ramirez & Co., Inc.
Raymond James & Associates
RBC Capital Markets
RH Investment Corp
Siebert Brandford Shank & Co.
SL Hare Capital
Stern Brothers & Co.
Sterne, Agee & Leach, Inc.
U.S. Bancorp Investments Inc.
Wedbush Securities Inc.
Wells Fargo Securities (trade name for Wells Fargo
Bank, N.A.)

By: Bank of America Merrill Lynch  New York, NY