Municipal Bond New Issues

Wednesday, October 15, 2008 10:00AM
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MSS Wire #44885 == PREL PRICING
==
RE: $20,395,000*
STATE OF OREGON
General Obligation Bonds
2008 Series B, 2008 Series C, 2008 Series A

LADIES AND GENTLEMEN: WE HAVE A RELEASE ON PRICING.


$15,495,000*
General Obligation Alternate Energy Project Bonds
2008 Series B
(Tax-Exempt)

MOODY’S: Aa2 S&P: AA FITCH: AA

[More:]

DATED:10/29/2008 FIRST COUPON:10/01/2009

DUE: 10/01

ADD’L
TAKEDOWN
MATURITY AMOUNT* COUPON PRICE ( Pts )
10/01/2010 420M 4.00% 3.10 3/8
(Approx. $ Price 101.664)
10/01/2011 440M 4.00% 3.47 3/8
(Approx. $ Price 101.458)
10/01/2012 470M 4.00% 3.81 3/8

(Approx. $ Price 100.683)
10/01/2013 505M 4.00% 4.03 3/8
(Approx. $ Price 99.864)
10/01/2014 540M 4.125% 4.28 3/8
(Approx. $ Price 99.193)
10/01/2015 575M 4.375% 4.55 1/2
(Approx. $ Price 98.967)
10/01/2016 610M 4.625% 4.78 1/2
(Approx. $ Price 98.984)

10/01/2017 660M 5.00% 5.02 1/2
(Approx. $ Price 99.853)
10/01/2018 695M 5.125% 5.23 1/2
(Approx. $ Price 99.190)
10/01/2019 745M 5.25% 5.43 1/2
(Approx. $ Price 98.526)
10/01/2020 800M 5.50% 5.61 1/2
(Approx. $ Price 99.048)
10/01/2021 855M 5.625% 5.76 1/2

(Approx. $ Price 98.776)
10/01/2022 920M 5.75% 5.85 1/2
(Approx. $ Price 99.051)
10/01/2023 985M 5.75% 5.92 1/2
(Approx. $ Price 98.325)

10/01/2026 3,245M 6.00% 6.05 1/2
(Approx. $ Price 99.451)

10/01/2029 3,030M 6.00% 6.17 1/2
(Approx. $ Price 98.011)

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CALL FEATURES: Optional call in 10/01/2018 @ 100.00


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$4,900,000*
State Board of Education General Obligation Bonds

2008 Series A
(Tax-Exempt)

MOODY’S: Aa2 S&P: AA FITCH: AA

DATED:10/29/2008 FIRST COUPON:08/01/2009

DUE: 08/01


ADD’L
TAKEDOWN
MATURITY AMOUNT* COUPON PRICE ( Pts )

08/01/2009 10M 3.00% 2.30 3/8

(Approx. $ Price 100.519)
08/01/2010 80M 4.00% 3.10 3/8
(Approx. $ Price 101.522)
08/01/2011 165M 4.00% 3.47 3/8
(Approx. $ Price 101.377)
08/01/2012 175M 5.00% 3.81 3/8
(Approx. $ Price 104.121)
08/01/2013 185M 5.00% 4.03 3/8
(Approx. $ Price 104.153)

08/01/2014 190M 5.00% 4.28 3/8
(Approx. $ Price 103.632)
08/01/2015 200M 5.00% 4.55 1/2
(Approx. $ Price 102.585)
08/01/2016 210M 5.00% 4.78 1/2
(Approx. $ Price 101.404)
08/01/2017 220M 5.00% 5.02 1/2
(Approx. $ Price 99.851)
08/01/2018 235M 5.125% 5.23 1/2

(Approx. $ Price 99.197)
08/01/2019 245M 5.30% 5.43 1/2
(Approx. $ Price 98.942)
08/01/2020 260M 5.50% 5.61 1/2
(Approx. $ Price 99.052)
08/01/2021 275M 5.625% 5.76 1/2
(Approx. $ Price 98.782)
08/01/2022 290M 5.75% 5.85 1/2
(Approx. $ Price 99.053)

08/01/2023 310M 5.875% 5.92 1/2
(Approx. $ Price 99.550)

08/01/2026 1,045M 6.00% 6.05 1/2
(Approx. $ Price 99.449)

08/01/2028 805M 6.125% 6.125 1/2

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CALL FEATURES: Optional call in 08/01/2018 @ 100.00


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* - APPROXIMATE SUBJECT TO CHANGE

Order period until today 12:30 PM, Eastern, Wednesday, 10/15/08.

The manager reserves the right to terminate or extend the order period
prior to or later than the above-mentioned time and date and to confirm
bonds at their discretion.

PRIORITY OF ORDERS AS FOLLOWS:
1. Member


The Award is expected on Wednesday, October 15, 2008.

Delivery is expected on Wednesday, October 29, 2008.

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


Banc of America Securities LLC

By: Banc of America Securities LLC San Francisco, CA

Wednesday, October 15, 2008 10:00AM

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The information herein has been obtained from sources which we believe
to be reliable, but we do not guarantee its accuracy or completeness.
Discretion with respect to suitability should be prudently exercised.
Representation as to availability and price are current only as of the
time of this message and may vary at the time that an indication of
interest is expressed.