1Prime Reserve is the total
market value (including accrued interest) of overnight investments, available-for-sale
securities maturing within three months. 2The benchmark is the total return of the Merrill Lynch 1-10 Year U.S. Treasury Index. 3The yield-to-maturity includes the potential
yield of Treasury Inflation-Protected Securities (TIPS), which assumes
an average annual increase in the CPI over the remaining life of each TIPS. 4For each TIPS, a 80% factor is applied
to its real yield duration to arrive at an estimated effective duration
(note: factor updated in September 2006 to reflect recent past experience).
National Liquidation Fund (NLF) Investment Portfolio Summary (Dollar Values in Millions)