County of San Diego Treasurer Investment Report. MONTH ENDING August 31, 2007

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1 County of San Diego Treasurer Investment Report MONTH ENDING August 31, 2007

2 Table of Contents 3 Summary Portfolio Statistics as of August 31, Investment Inventory with Market Value 15 Purchases/Sales/Maturities 18 Cash Flow Analysis 20 Participant Cash Balances 21 Pooled Money Fund Participants 22 Pooled Money Fund Asset Allocation 23 Pooled Money Fund Assets Credit Quality 24 Investment Policy Compliance Standards DISCLAIMER: The information provided, including all charts, tables, graphs and numerical representations, is provided to readers solely as a general overview of the economic and market conditions which the Treasurer utilizes in making investment decisions. Note: All Investments held during the month of August, 2007 were in compliance with the Investment Policy dated January 2, The projected cash flows indicate sufficient liquidity to meet all scheduled expenditures for the next 6 months. 2

3 Summary Portfolio Statistics County of San Diego Pooled Money Fund As of August 31, 2007 Weighted Average Percent Of Market Accrued Unrealized Yield To Days To Portfolio Book Value Price Interest Market Value Gain/(Loss) Maturity Maturity U S Treasury Notes 8.63% 317,842, % 2,818, ,586,400 $2,743, % 602 Federal Farm Credit Bank Notes 1.34% 49,645, % 414,243 49,735,000 $89, % 878 Federal Home Loan Bank Notes 6.41% 237,190, % 3,296, ,071,930 $881, % 800 Federal Nat'l Mortgage Assoc. Notes 0.67% 25,000, % 447,222 24,985,000 ($15,000) 4.00% 20 Federal Home Loan Mortg. Corp. Notes 7.03% 260,980, % 2,870, ,092,310 $111, % 524 Corporate Medium Term Notes 6.16% 228,549, % 3,861, ,751,000 $201, % 175 Asset Backed Notes 1.25% 46,145, % 509,241 46,353,350 $207, % 556 Money Market Funds 1.79% 66,500, % 109,061 66,500,000 $0 4.78% 1 Repurchase Agreements 8.12% 301,504, % 45, ,504,892 $0 5.42% 1 Negotiable Certificates Of Deposit 23.87% 887,001, % 10,364, ,718,200 ($283,465) 5.33% 163 Commercial Paper 33.20% 1,233,631, % 0 1,233,201,631 ($429,626) 5.32% 48 Collateralized Certificates of Deposit 1.53% 56,691, % 70,393 56,691,000 $0 5.15% 178 Totals for August % $3,710,683, % $24,807,000 $3,714,190,713 $3,507, % 227 Totals for July % $3,982,819, % $31,990,604 $3,982,926,317 $106, % 227 Change From Prior Month ($272,136,410) 0.10% ($7,183,604) ($268,735,604) $3,400, % 0 Portfolio Effective Duration years Fiscal Year August To Date Calendar Year Return Annualized Return Annualized To Date Return Annualized Book Value 0.445% 5.234% 0.892% 5.249% 3.524% 5.293% Market Value 0.574% 6.754% 1.171% 6.891% 4.182% 6.282% 3

4 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS U S TREASURY N B EH ,000, ,000, , , /26/07 09/30/ ,980, US TREASURY N B EP ,000, ,032, , , /23/07 11/30/ ,956, US TREASURY N B ER ,000, ,017, , , /23/07 12/31/ ,953, U S TREASURY N B X ,000, ,050, , , /26/07 02/15/ ,023, U S TREASURY N B FJ ,000, ,127, , , /26/07 06/30/ ,063, US TREASURY N FT ,000, ,054, , , /29/07 09/30/ ,989, US TREASURY N B FZ ,000, ,098, , , /29/07 11/30/ ,003, US TREASURY N B GB ,000, ,126, , , /29/07 12/31/ ,036, US TREASURY N B GE ,000, ,130, , , /29/07 01/31/ ,057, US TREASURY N B GJ ,000, ,180, , , /29/07 02/28/ ,066, US TREASURY N B CE ,000, ,666, , , /29/07 04/15/ ,557, US TREASURY N B CL ,000, ,926, , , /29/07 06/15/ ,818, US TREASURY N B FP ,000, ,244, , , /29/07 08/15/ ,127, U S TREASURY N B GA ,000, ,122, , , /16/07 11/30/ ,776, U S TREASURY N B GK ,000, ,214, , , /16/07 02/29/ ,788, TREASURY NOTES GU ,000, ,288, , , /08/07 05/31/ ,806, U S TREASURY N B GU ,000, ,309, , , /16/07 05/31/ ,837,

5 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS TREASURY NOTES SUBTOTAL 8.63% (M) ,000, ,586, ,818, ,743, ,842, FFCB CALL X 31331SCZ ,000, ,894, , /09/04 05/09/ ,000, , FFCB 31331XBQ ,000, ,053, , , /09/07 10/23/ ,036, FFCB 31331Q3S ,000, ,641, , , /10/07 07/07/ ,580, FFCB 31331V7K ,000, ,044, , , /10/07 08/06/ ,991, FFCB 31331XNE ,000, ,103, , , /10/07 02/01/ ,036, FFCB SUBTOTAL 1.34% (M) ,000, ,735, , , ,645, , FHLB 3133XC6K ,290, ,203, , , /16/06 12/27/ ,192, FHLB 3133XFJX ,000, ,000, , , /09/06 06/13/ ,950, FHLB 3133XFJX ,000, ,000, , , /16/06 06/13/ ,939, FHLB 3133XG5N ,000, ,165, , , /17/06 07/17/ ,000, FHLB 3133XGJ ,000, ,097, , , /09/07 09/11/ ,076, FHLB 3133MATQ ,275, ,885, , , /11/07 02/12/ ,852, FHLB 3133XJUS ,000, ,063, , , /11/07 03/12/ ,017, FHLB 3133XKDY ,000, ,006, , , /05/07 04/01/ ,000, FHLB 3133XKDY ,000, ,006, , , /05/07 04/01/ ,000,

6 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS FHLB 3133XBUL ,000, ,981, , , /12/07 05/26/ ,938, FHLB 3133XBZJ ,000, ,941, , , /12/07 06/09/ ,896, FHLB 3133XGRD ,000, ,109, , , /10/07 09/29/ ,045, FHLB 3133XGRD ,000, ,054, , , /11/07 09/29/ ,029, FHLB 3133MCLA ,000, ,547, , , /10/07 11/15/ ,497, FHLB 3133XJHW ,000, ,047, , , /10/07 12/10/ ,974, FHLB 3133XJVL ,000, ,088, , , /10/07 03/11/ ,011, FHLB 3133MGYH ,000, ,347, , , /12/07 08/15/ ,287, FHLB 3133XKME ,520, ,531, , , /14/07 04/30/ ,481, FHLB SUBTOTAL 6.41% (M) ,085, ,071, ,296, , ,190, FNMA 3136F6EK ,000, ,985, , /20/04 09/20/ ,000, , FNMA SUBTOTAL 0.67% (M) ,000, ,985, , ,000, , FHLMC 3128X4XW ,000, ,975, , /30/06 01/18/ ,000, , FHLMC 3134A4ZU ,000, ,922, , /13/06 02/21/ ,993, , FHLMC 3134A4ZU ,000, ,922, , /13/06 02/21/ ,993, ,

7 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS FHLMC 3128X4D ,000, ,955, , /22/06 02/22/ ,000, , FHLMC CALL X4Q ,000, ,955, ,185, /14/06 03/14/ ,997, , FHLMC 3128X4VY ,000, ,992, , /27/05 06/27/ ,000, , FHLMC 3137EAAK ,000, ,003, , , /09/07 11/03/ ,986, FHLMC 3128X5XA ,000, ,021, , , /05/07 01/11/ ,991, FHLMC 3134A4VE ,000, ,914, , , /10/07 10/18/ ,885, FHLMC 3128X4QK ,000, ,031, , , /10/07 10/18/ ,008, FHLMC 3128X5WB ,000, ,030, , , /05/07 01/10/ ,994, FHLMC 3137EAAB ,000, ,201, , , /12/07 04/18/ ,101, FHLMC 3134A4FM ,000, ,434, , , /12/07 06/15/ ,359, FHLMC 3128X5R ,700, ,735, , , /14/07 03/15/ ,668, FHLMC SUBTOTAL 7.03% (M) ,700, ,092, ,870, , ,980, , BN BANK OF AMERICAL 06050YHN ,000, ,000, , /02/07 10/04/ ,000, BN BANK OF AMERICA 06050YHM ,000, ,000, , /01/07 10/05/ ,000, MTN GEN ELEC CAP CRP 36962GP ,000, ,864, , , /30/06 03/04/ ,844, MTN GEN ELEC CAP CRP 36962GP ,000, ,830, , , /21/06 03/04/ ,820,

8 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS MTN GECC 36962GL ,000, ,818, , /06/06 10/15/ ,841, , MTN GEN ELEC CAP CRP 36962GN ,000, ,824, , /04/06 10/30/ ,848, , MTN GECC 36962GM ,000, ,415, , , /14/06 12/15/ ,193, MEDIUM TERM NOTES SEMI SUBTOTAL 4.81% (M) ,000, ,751, ,955, , ,549, , BN BANK OF AMERICA 06050YHL ,000, ,000, , /01/07 09/04/ ,000, MEDIUM TERM NOTES SUBTOTAL 1.35% (M) ,000, ,000, , ,000, PTS CCCIT 2003-A3 A EBM ,500, ,409, , /13/06 03/10/ ,424, , PTS CCCIT 2006-A5 A EDH ,000, ,092, , , /23/06 05/20/ ,984, PTS SOFT BULLET-SEMI SUBTOTAL 0.88% (M) ,500, ,501, , , ,409, , PTS SOFT BULLET AMXCA JCX ,000, ,851, , , /11/06 05/15/ ,736, PTS SOFT BULLET MONTH SUBTOTAL 0.37% (M) ,000, ,851, , , ,736, RP MS ,000, ,000, , /31/07 09/04/ ,000, RP DB ,000, ,000, , /31/07 09/04/ ,000,

9 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS RP CF ,000, ,000, , /31/07 09/04/ ,000, RP WF SWEEP ACCT ,504, ,504, /31/07 09/04/ ,504, REPURCHASE AGREEMENTS SUBTOTAL 8.12% (M) ,504, ,504, , ,504, YCD UBS AG STAMFORD 90263KSD ,000, ,997, , /16/07 09/04/ ,999, , NCD FORTIS BANK NY 34956MMW ,000, ,997, ,341, /12/06 09/05/ ,999, , YCD UBS AG STAMFORD 90263KSE ,000, ,997, , /16/07 09/10/ ,001, , YCD DEUTSCHE BANK NY 25153GSH ,000, ,960, ,778, /03/07 09/28/ ,000, , YCD UBS AG STAMFORD 90263KRW ,000, ,993, , /13/07 10/02/ ,000, , YCD DEUTSCHE BANK NY 25153GSG ,000, ,975, , /03/07 10/10/ ,000, , CD MASH MUTUAL BANK 93940AXT ,000, ,920, , /06/07 11/30/ ,000, , CD UNION BANK CALIF 90531AW ,000, ,955, , /19/07 01/18/ ,000, , CD UNION BANK CALIF 90531AW ,000, ,975, , /23/07 01/18/ ,000, , CD BANK OF AMERICA 06050GS ,000, ,970, , /30/07 01/28/ ,000, , YCD UBS AG STAMFORD 90263KJ ,000, ,986, , /30/07 02/29/ ,001, , NCD WASH MUTUAL BANK 93940AXS ,000, ,950, , /03/07 04/04/ ,000, , YCD ROYAL BK CAN NY 78009HY ,000, ,007, , , /04/07 06/05/ ,005,

10 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS YCD SOC GENERALE 8336P1KU ,000, ,000, , /03/07 07/03/ ,000, YCD PARIBAS NY 0556M2H ,000, ,015, , , /06/07 07/03/ ,992, YCD SOC GENERALE 8336P1L ,000, ,015, , , /13/07 07/03/ ,000, CD BRANCH BKG & TR 10513HW ,000, ,005, , , /23/07 07/22/ ,000, NEGOTIABLE C/DS FIXED SUBTOTAL 33.87% (M) ,000, ,718, ,364, , ,001, , CP KREDIETBANK NA 50076BW ,000, ,940, /30/07 09/04/ ,954, , CP NATEXIS US FIN 6323A1W ,000, ,982, /31/07 09/04/ ,987, , CP NATEXIS US FIN 6323A1W ,000, ,940, /31/07 09/04/ ,956, , CP SOC GEN N AMER 83365SW ,000, ,944, /29/07 09/05/ ,957, , CP MICA FUNDING LLC 59403UW ,000, ,945, /03/07 09/07/ ,956, , CP KREDIETBANK NA 50076BW ,005, ,957, /31/07 09/07/ ,966, , CP MICA FUNDING LLC 59403UWB ,000, ,940, /21/07 09/11/ ,948, , CP MICA FUNDING LLC 59403UWM ,000, ,920, /20/07 09/21/ ,926, , CP ING US FUNDING 4497W1WQ ,000, ,928, /23/07 09/24/ ,933, , CP ING US FUNDING 4497W1WR ,000, ,867, /23/07 09/25/ ,878, , CP INTL LEASE FIN 45974NWT ,000, ,790, /07/07 09/27/ ,814, ,

11 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS CP GEN ELECTRIC CO 36960MWU ,000, ,790, /11/07 09/28/ ,803, , CP BAVARIA UNIV FDG 0717P3X ,000, ,760, /02/07 10/01/ ,780, , CP BANK OF AMER CRP 0660P1X ,000, ,700, /27/07 10/09/ ,723, , CP CHESHAM FINANCE 16536JXX ,864, ,746, /23/07 10/31/ ,752, , CP MERRILL LYNCH 59018KXX ,362, ,103, /11/07 10/31/ ,117, , CP INTL LEASE FIN 45974NXX ,000, ,624, /26/07 10/31/ ,653, , CP CAFCO LLC 1247P3Y ,000, ,545, /30/07 11/01/ ,555, , CP CHESHAM FINANCE 16536JY ,000, ,039, /08/07 11/05/ ,074, , CP NEW CENTER ASSET 64351VY ,000, ,565, /18/07 11/06/ ,591, , CP HARRIER FIN LLC 41365UY ,000, ,500, /09/07 11/07/ ,519, , CP ING (US) FUNDING 4497WOA ,000, ,060, /03/07 01/07/ ,084, CP SOC GEN N AMER 83365RAB ,000, ,030, /10/07 01/11/ ,047, , CP NESTLE CAP CORP 64105GAG ,832, ,805, /16/07 01/16/ ,829, , CP UBS FINANCE DE 90262CAH ,000, ,289, /17/07 01/17/ ,318, , CP NESTLE CAP CORP 64105GAJ ,000, ,487, /16/07 01/18/ ,499, , COMMERCIAL PAPER SUBTOTAL 33.20% (M) ,242,063, ,233,201, ,233,631, ,

12 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS MM CalTRUST ,000, ,000, , /02/06 09/01/ ,000, MM FEDETATED # /31/06 09/01/ MM FIDELITY # , /31/06 09/01/ MM RESERVE US GOV ,300, ,300, , /06/07 09/01/ ,300, MM BLACKROCK , /31/07 09/01/ MM BLACKROCK TREASURY FUND 09248U ,200, ,200, , /24/07 09/01/ ,200, MONEY MKT FUNDS SUBTOTAL 1.79% (M) ,500, ,500, , ,500, CD SAN DIEGO NATIONAL BANK , , /27/06 09/27/ , CD SOUTHWEST COM BANK PP3HO7W , , /19/06 12/19/ , CD BANK OF WEST , , , /04/07 05/02/ , CD HOME BANK OF CAL , , /11/07 05/13/ , CD METRO UNITED BANK PP2118TJ , , /27/07 08/26/ , TIME DEPOSITS SUBTOTAL 0.01% (M) , , , , CD LANDMARK NATIONAL BANK PP320H , , /13/06 09/13/ , CD TORRY PINES BANK PP320H , , /13/06 09/13/ ,

13 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS CD IMPERIAL CAPITAL PP320HDR , , /25/06 10/25/ , CD FIRST PACIFIC BANK OF CA PP3B04O , , /21/06 11/21/ , CD REGENTS BANK PP4K07IR , , /07/06 12/07/ , CD CORONADO FIRST BANK PP3J3GTZ , , /12/06 12/12/ , CD PACIFIC TRUST BANK , , /20/07 03/20/ , CD DISCOVERY BANK , , /04/07 05/02/ , CD CALIFORNIA BANK & TRUST , , /11/07 05/09/ , CD FIRST CENTENNIAL BANK , , /11/07 05/13/ , CD COMERICA BANK , , /17/07 05/16/ , CD NEIGHBORHOOD NATIONAL BANK PP330LH , , /29/07 07/29/ , TIME DEPOSIT SUBTOTAL 0.03% (M) ,195, ,195, , ,195, COL CD SD NATL BANK PP4G15VP ,000, ,000, , /30/07 01/30/ ,000, COL CD BANK OF THE WEST PP4G15VO ,000, ,000, , /30/07 01/30/ ,000, COLL CD COMERICA BANK PP4G15WA ,000, ,000, , /31/07 01/31/ ,000, COLLATERIZED CD SUBTOTAL 0.94% (M) ,000, ,000, , ,000,

14 Investment Inventory with Market Value DESCRIPTION CUSIP CPN RATE PAR/SHARES MARKET VALUE CURR ACCR INT UNREALIZED GAIN PURCHASE MATURITY DATE YTM TR BOOK MARKET PRICE PRICE SOURCE UNREALIZED LOSS COL CD TORRY PINES BANK PP6H0PGT ,000, ,000, , /22/07 02/22/ ,000, COLL CD CA BK & TRUST PP4Q1HWK ,000, ,000, , /01/07 05/30/ ,000, COLLATERIZED CD SUBTOTAL 0.54% (M) ,000, ,000, , ,000, GRAND TOTAL ,721,043, ,714,190, ,807, ,712, ,710,683, ,204, Note: Market Value source is Bank of New York Mellon 14

15 Purchases/Sales/Maturities INV # DESCRIPTION COUPON BOOK VALUE COMMENTS MATURITY TRADE (GAIN)/LOSS YIELD MATURITY/CALL PURCHASE MAT/CALL DATE DATE FHLMC CALL (25,000,000.00) MAT 08/10/07 08/10/ YCD TORONTO DOMIN NY 5.51 (25,000,000.00) MAT 08/03/07 08/03/ YCD NORDEA BK FIN NY 5.43 (50,000,000.00) MAT 08/08/07 08/08/ YCD NORDEA BK FIN NY 5.43 (18,375,000.00) MAT 08/08/07 08/08/ YCD SOC GENERALE 5.30 (50,000,000.00) MAT 08/14/07 08/14/ YCD BANCO BILBAO VIZ 5.49 (40,000,000.00) MAT 08/17/07 08/17/ YCD UBS AG STAMFORD 5.31 (60,000,000.00) MAT 08/31/07 08/31/ YCD SOC GENERALE 5.29 (30,000,000.00) MAT 08/31/07 08/31/ YCD FORTIS BANK NY 5.30 (40,000,000.00) MAT 08/31/07 08/31/ CD BANK OF AMERICA ,000, PURC 01/28/08 08/30/ YCD UBS AG STAMFORD ,001, PURC 02/29/08 08/30/ CP GOLDMAN SACHS GP 5.19 (50,000,000.00) MAT 08/01/07 08/01/ CP EBURY FINANCE 5.26 (50,000,000.00) MAT 08/01/07 08/01/ CP STARBIRD FDG 5.39 (40,000,000.00) MAT 08/01/07 08/01/ CP SOC GEN N AMER 5.35 (110,000,000.00) MAT 08/01/07 08/01/ CP PARADIGM FDG LLC ,995, PURC 08/02/07 08/01/ CP PARADIGM FDG LLC 5.37 (33,000,000.00) MAT 08/02/07 08/02/ CP PARADIGM FDG LLC ,982, PURC 08/02/07 08/01/ CP PARADIGM FDG LLC 5.35 (115,000,000.00) MAT 08/02/07 08/02/ CP CONCORD MINUTE-A ,981, PURC 08/03/07 08/02/ CP CONCORD MINUTE-A 5.33 (125,000,000.00) MAT 08/03/07 08/03/ CP PARADIGM FDG LLC ,997, PURC 08/03/07 08/02/ CP PARADIGM FDG LLC 5.32 (17,000,000.00) MAT 08/03/07 08/03/ CP PARADIGM FDG LLC ,966, PURC 08/03/07 08/02/ CP PARADIGM FDG LLC 5.31 (225,000,000.00) MAT 08/03/07 08/03/ CP STARBIRD FDG ,955, PURC 08/06/07 08/03/ CP STARBIRD FDG 5.31 (100,000,000.00) MAT 08/06/07 08/06/ CP STARBIRD FDG ,944, PURC 08/06/07 08/03/ CP STARBIRD FDG 5.31 (125,000,000.00) MAT 08/06/07 08/06/ CP PARADIGM FDG LLC ,951, PURC 08/06/07 08/03/ CP PARADIGM FDG LLC 5.28 (110,000,000.00) MAT 08/06/07 08/06/ CP UBS FINANCE (DE) ,995, PURC 08/07/07 08/06/ CP UBS FINANCE (DE) 5.27 (31,000,000.00) MAT 08/07/07 08/07/ CP PARADIGM FDG LLC ,984, PURC 08/07/07 08/06/ CP PARADIGM FDG LLC 5.37 (104,000,000.00) MAT 08/07/07 08/07/07-15

16 Purchases/Sales/Maturities INV # DESCRIPTION COUPON BOOK VALUE COMMENTS MATURITY TRADE (GAIN)/LOSS YIELD MATURITY/CALL PURCHASE MAT/CALL DATE DATE CP UBS FINANCE (DE) ,970, PURC 08/07/07 08/06/ CP UBS FINANCE (DE) 5.27 (201,000,000.00) MAT 08/07/07 08/07/ CP COCA COLA ENTER ,992, PURC 08/08/07 08/07/ CP COCA COLA ENTER 5.32 (50,000,000.00) MAT 08/08/07 08/08/ CP BMW US CAPITAL ,991, PURC 08/08/07 08/07/ CP BMW US CAPITAL 5.29 (55,000,000.00) MAT 08/08/07 08/08/ CP SOC GEN N AMER ,979, PURC 08/09/07 08/08/ CP SOC GEN N AMER 5.29 (140,000,000.00) MAT 08/09/07 08/09/ CP DRESDNER US FIN ,975, PURC 08/10/07 08/09/ CP DRESDNER US FIN 5.50 (160,000,000.00) MAT 08/10/07 08/10/ CP BNP PARIBAS FIN 5.19 (50,000,000.00) MAT 08/13/07 08/13/ CP SOC GEN N AMER ,938, PURC 08/13/07 08/10/ CP SOC GEN N AMER 5.45 (135,000,000.00) MAT 08/13/07 08/13/ CP TOTAL CAPITAL ,986, PURC 08/13/07 08/10/ CP TOTAL CAPITAL 5.26 (30,000,000.00) MAT 08/13/07 08/13/ CP RABOBANK USA FIN ,979, PURC 08/14/07 08/13/ CP RABOBANK USA FIN 5.24 (140,000,000.00) MAT 08/14/07 08/14/ CP INTL LEASE FIN 5.24 (30,000,000.00) MAT 08/15/07 08/15/ CP COCA COLA ENTER 5.26 (45,000,000.00) MAT 08/15/07 08/15/ CP GEN ELECTRIC CO ,442, PURC 08/15/07 08/14/ CP GEN ELECTRIC CO 5.09 (47,449,000.00) MAT 08/15/07 08/15/ CP CARGILL GLOB FUN ,989, PURC 08/15/07 08/14/ CP CARGILL GLOB FUN 5.21 (75,000,000.00) MAT 08/15/07 08/15/ CP RABOBANK USA FIN ,988, PURC 08/15/07 08/14/ CP RABOBANK USA FIN 4.99 (80,000,000.00) MAT 08/15/07 08/15/ CP RABOBANK USA FIN ,980, PURC 08/16/07 08/15/ CP RABOBANK USA FIN 4.74 (145,000,000.00) MAT 08/16/07 08/16/ CP CARGILL GLOB FUN ,156, PURC 08/17/07 08/16/ CP CARGILL GLOB FUN 5.07 (45,163,000.00) MAT 08/17/07 08/17/ CP DRESDNER US FIN ,994, PURC 08/17/07 08/16/ CP DRESDNER US FIN 5.05 (40,000,000.00) MAT 08/17/07 08/17/ CP NATEXIS US FIN C ,967, PURC 08/20/07 08/17/ CP NATEXIS US FIN C 5.17 (75,000,000.00) MAT 08/20/07 08/20/ CP CARGILL GLOB FUN ,650, PURC 08/20/07 08/17/ CP CARGILL GLOB FUN 5.23 (26,662,000.00) MAT 08/20/07 08/20/07-16

17 Purchases/Sales/Maturities INV # DESCRIPTION COUPON BOOK VALUE COMMENTS MATURITY TRADE (GAIN)/LOSS YIELD MATURITY/CALL PURCHASE MAT/CALL DATE DATE CP NEPTUNE FUNDING 5.28 (20,000,000.00) MAT 08/21/07 08/21/ CP NATEXIS US FIN ,991, PURC 08/21/07 08/20/ CP NATEXIS US FIN 5.24 (55,000,000.00) MAT 08/21/07 08/21/ CP KREDIETBANK NA ,991, PURC 08/22/07 08/21/ CP KREDIETBANK NA 5.05 (60,000,000.00) MAT 08/22/07 08/22/ CP NATEXIS US FIN ,990, PURC 08/23/07 08/22/ CP NATEXIS US FIN 5.06 (70,000,000.00) MAT 08/23/07 08/23/ CP DRESDNER US FIN ,997, PURC 08/23/07 08/22/ CP DRESDNER US FIN 5.04 (20,000,000.00) MAT 08/23/07 08/23/ CP KREDIETBANK NA ,988, PURC 08/24/07 08/23/ CP KREDIETBANK NA 4.97 (80,000,000.00) MAT 08/24/07 08/24/ CP DEUTSCHE BK FIN ,989, PURC 08/27/07 08/24/ CP DEUTSCHE BK FIN 5.00 (25,000,000.00) MAT 08/27/07 08/27/ CP SOC GEN N AMER ,991, PURC 08/28/07 08/27/ CP SOC GEN N AMER 5.25 (60,000,000.00) MAT 08/28/07 08/28/ CP SOC GEN N AMER ,991, PURC 08/29/07 08/28/ CP SOC GEN N AMER 5.35 (55,000,000.00) MAT 08/29/07 08/29/ CP NEW CENTER ASSET 5.18 (100,000,000.00) MAT 08/30/07 08/30/ CP KREDIETBANK NA ,977, PURC 08/30/07 08/29/ CP KREDIETBANK NA 5.41 (150,000,000.00) MAT 08/30/07 08/30/ CP NATEXIS US FIN ,995, PURC 08/30/07 08/29/ CP NATEXIS US FIN 5.39 (30,000,000.00) MAT 08/30/07 08/30/ CP GEN ELECTRIC CO ,986, PURC 08/31/07 08/30/ CP GEN ELECTRIC CO 5.00 (100,000,000.00) MAT 08/31/07 08/31/ CP KREDIETBANK NA ,924, PURC 09/04/07 08/30/ CP NATEXIS US FIN ,982, PURC 09/04/07 08/31/ CP NATEXIS US FIN ,941, PURC 09/04/07 08/31/ CP SOC GEN N AMER ,925, PURC 09/05/07 08/29/ CP ING (US) FUNDING ,877, PURC 01/07/08 08/03/ CP NESTLE CAP CORP ,712, PURC 01/16/08 08/16/ CP UBS FINANCE DE ,244, PURC 01/17/08 08/17/ CP NESTLE CAP CORP ,442, PURC 01/18/08 08/16/ CD FIRST UNITED BANK 5.10 (98,000.00) MAT 08/27/07 08/27/ CD METRO UNITED BANK , PURC 08/26/08 08/27/ U S TREASURY N B 4.00 (25,000,000.00) MAT 08/31/07 08/31/07-17

18 Purchases/Sales/Maturities INV # DESCRIPTION COUPON BOOK VALUE COMMENTS MATURITY TRADE (GAIN)/LOSS YIELD MATURITY/CALL PURCHASE MAT/CALL DATE DATE CP MANHATTAN ASSET 5.36 (18,005,000.00) MAT 08/06/07 08/06/ CP RABOBANK USA FIN ,002, PURC 08/07/07 08/06/ CP RABOBANK USA FIN 5.26 (18,005,000.00) MAT 08/07/07 08/07/ CP NATEXIS US FIN C ,978, PURC 08/17/07 08/07/ CP NATEXIS US FIN C 5.28 (18,005,000.00) MAT 08/17/07 08/17/ CP NATEXIS US FIN ,968, PURC 08/31/07 08/17/ CP NATEXIS US FIN 5.28 (18,005,000.00) MAT 08/31/07 08/31/ CP KREDIETBANK NA ,959, PURC 09/07/07 08/31/07 - GRAND TOTALS (4,065,767,000.00) 3,773,692,

19 Cash Flow Analysis San Diego Pooled Money Fund As of August 31, 2007 ($000) Aug-07 Sep-07 Oct-07 Nov-07 Dec-07 Jan-08 Beginning Pool Book Balance 3,982,820 3,710,684 3,597,915 3,886,028 4,120,633 4,817,222 MAIN CASH FLOW ITEMS INFLOWS: Reverse Repos Interest Income On Pool 23,750 10,660 9,301 3,932 5,489 5,800 Taxes Collected 76,083 35, , ,111 1,300, ,000 School Deposits 578, , , , , ,000 County Deposits 297, , , , , ,700 Retirement Voluntaries 2, ,000 1, ,500 Maturities/Sales Outside Pool 0 1,000 10, , , ,680 1,147,513 1,113,755 2,103, ,000 OUTFLOWS: Schools 791, , , , , ,000 County 395, , , , , ,000 Retirement 6,200 8,000 5,000 5,500 5,000 7,500 Voluntaries 6,679 5,000 6,500 6,000 5,500 6,150 Tax Apportionment 16,532 10,000 15,400 49, , ,000 Reverse Repos Purchases Outside of Pool 19,994 1,000 34, , ,236, , , ,150 1,406,900 1,303,650 TOTAL (258,490) (112,769) 288, , ,589 (611,650) PROJECTED/ACTUAL MONTH END POOL BALANCE 3,710,684 3,597,915 3,886,028 4,120,633 4,817,222 4,205,572 LIQUIDITY PROJECTIONS INCREASE / DECREASE DUE TO INVESTMENT ACTIVITY Maturities 525, , ,100 48, ,000 Sales/Calls Investments Purchased ,000 25, , , ,100 73, ,000 Net Main Cash Flow (see above) (112,769) 288, , ,589 (611,650) PROJECTED/ACTUAL MONTH END LIQUIDITY 368, ,632 1,357,745 2,034,450 2,804,629 2,587,979 Note: The above is not meant to be a complete Cash Flow Statement. The data represents a subset of the main cash flow items and does not include accrued interest or other adjustment items. 19

20 Participant Cash Balances San Diego Pooled Money Fund As of August 31, 2007 ($000) PARTICIPANT 06/30/07 07/31/07 08/31/07 JULY% PARTICIPANT 06/30/07 07/31/07 08/31/07 JULY% FMV FMV FMV FMV FMV FMV COUNTY 407, , , % MTS % COUNTY - SPECIAL TRUST FUNDS 1,477,785 1,017, , % Majestic Pines CSD % Mission Res Consr % NON-COUNTY INVESTMENT FUNDS 232, , , % North County Cemetery Dist % SCHOOLS - (K THRU 12) 1,973,451 1,913,032 1,785, % North County Cemetry Perpetual % North County Cemetery % COM COLLEGES North County Dispatch , % San Diego 72,845 68,971 88, % North County Fire 6,560 5,259 4, % Grossmont 44,508 41,280 48, % Otay Water District Inv % Mira Costa 32,635 27,221 26, % Palomar Res Consr % Palomar 165, , , % Pine Valley FPD % Southwestern 59,771 52,849 50, % Pomerado Cem Perpet 1,505 1,512 1, % Total For Com Colleges 375, , , % Pomerado Cemetery Dist 1,079 1,086 1, % Ramona Cemetery Dist % RETIREMENT 7,142 3,710 4, % Ramona Cemtry Perpet % Rancho Santa Fe FPD 8,033 7,834 7, % SANCAL 1, % San Diego Rural Fire % San Dieguito River % MTDB 954 8,304 1, % San Marcos FPD % SANDAG 828 3, % San Miguel FPD 3,055 2,608 2, % San Ysidro Sanitation % CITIES SDC Regional Airport Authority 23,241 23,258 23, % Encinitas % So County OPS Ctr % Spring Valley/Casa de Oro (Misc Dep TF) 1,310 1,332 1, % INDEPENDENT AGENCIES Upr Sn Lu Re Rsor % Alpine FPD 1,231 1, % Vallecitos Water Dist Inv 1,462 1,463 1, % Bonita Sunnyside FPD 4,211 3,918 3, % Valley Center FPD 3,094 3,079 3, % Borrego Springs FPD % Valley Cntr Cemetery % Deer Springs FPD 5,132 4,845 4, % Valley Ctr Cem Perp % East County FPD % Vista FPD % Fallbrook PublicUtl % Total for Independent Agencies 74,861 71,121 68, % PASIS 1,245 1,246 1, % Julian-Cuyamaca FPD % Lake Cuyamaca Rec & Pk % Lakeside Fire 5,780 5,274 4, % Leucadia Water District % Lower Sweetwarer FPD % Pooled Money Fund Total 4,551,843 3,982,926 3,714, % 20

21 Pooled Money Fund Participants San Diego County Pooled Money Fund As of August 31, % 0.20% 5.41% 10.24% 35.17% County Funds Non County Funds Voluntary Depositors Schools Community Colleges 21

22 Asset Allocation San Diego County Pooled Money Fund as of August 31, % 1.25% 8.12% 1.79% 8.63% 6.16% 15.45% 1.53% 33.20% Commercial Paper Medium Term Notes Negotiable CD's Asset Backed Notes Repo Money Market Treasury Notes Federal Agency Time Deposits 22

23 Credit Quality San Diego County Pooled Money Fund As of August 31, % 69.08% AAA A-1 / A-1+ 23

24 Investment Policy Compliance Standards Category Standard Comment Treasury Issues No Limit; 5% per issue Complies - 0.0% Agency Issues 5% per issue, 25% per issuer Complies % Local Agency Obligations 5% per issue, 10% per issuer; 15% max.; SP-1/A or MIG1/A or F1/A minimum rating Complies - 0.0% Banker s Acceptances 2.5% per issue, 5% per issuer; 40% max.; A-1 or P-1 or F1 minimum rating Complies - 0.0% Commercial Paper 2.5% per issue>5 days; 10% per issue <5 days; 5% per issuer>5 days; 10% per issuer <5 days;40% max.; A-1 Complies % or P-1 or F1 minimum rating Medium Term Notes 2.5% per issue, 5% per issuer; 30% max.; A-1/A or P-1/A or F1/ A minimum rating Complies - 6.2% Negotiable Certificates of Deposit 2.5% per issue, 5% per issuer; 30% max.; A-1/A or P-1/A or F1/ A minimum rating Complies % Repurchase Agreements 1-year maximum maturity; 10% per issue>5 days; 15% per issue <5 days; 40% maximum Complies - 8.1% Reverse Repurchase Agreements 92-day maximum maturity; 5% per issue; 10% per issuer; 20% maximum combined with Securities Lending N/A Collateralized Certificates of Deposit 1-year maximum maturity;10% max.; 110% collateral required Complies - 1.5% Covered Call Option/ Put Option 90-day maximum maturity;10% maximum N/A Money Market Mutual Funds 10% per fund; 15% maximum; AAAf, or Aaaf, or AAAf minimum rating Complies - 1.8% Local Agency Investment Fund - L.A.I.F. 10% maximum; or $40 million program limitation Complies - 0.0% Investment Trust of California - Cal Trust 2.5% maximum Complies Pass-Through Securities Non-mortgaged backed; 2.5% per issue, 5% per issuer; 20% max.; A-rated issuer; A-1/AA or P-1/Aa or F1/AA Complies - 1.3% minimum issue rating Maximum maturity 5 years Complies Illiquidity Limitations 20% maximum for combined categories for Local Agency Obligations and Collateralized CDs Complies Maximum Issuer Exposure 10% per issuer combined (5%per any asset category, exclusive of Treasury, Agency, and Repurchase Complies Agreements) Maturity Policy - Portfolio Structure minimum 25% =< 90 days, and minimum 25% between 91days and 365 days; maximum 50% between 1 year Complies and 5 years; maximum 1.5 years effective duration for portfolio Prohibited Securities Inverse floaters; Ranges notes, Interest-only strips from mortgaged backed securities; Zero interest accrual Complies securities Credit Rating Policy - Portfolio Structure minimum 67% AAA-rated, no maximum; maximum 33% AA-rated; maximum 13% A-rated Complies Securities Lending 92-day maximum maturity; 5% per loan; 10% per counterparty; 20% maximum combined with Reverse Repurchase Agreements Assets reported on by Chandler Asset Management are in full compliance with State law and with the County's investment policy. N/A 24