Samuel A. Ramirez & Co., Inc.

"Ramirez & Co., Inc. one of the top 10 in the nation"

Rank	All Manager Parents	Market Share	Par Amount (US$ mil)	# of Issues
1	Citigroup Global Markets, Inc.	6.69	126,672.34	596
2	J.P. Morgan Chase	6.06	114,710.07	521
3	Merrill Lynch & Co.	5.72	108,193.16	493
4	Morgan Stanley & Co., Inc.	4.98	94,323.55	369
5	Goldman, Sachs & Co	4.89	92,514.93	362
6	Banc of America Securities LLC	4.87	92,104.62	536
7	Wachovia Bank, N.A.	3.88	73,412.60	508
8	Barclays Capital	3.85	72,909.94	251
9	RBC Capital Markets	3.81	72,186.28	719
10	Samuel A. Ramirez & Co., Inc.	3.25	61,522.76	146

Dollar amounts are in Millions. Rankings are preliminary and subject to revision. Short-term notes maturing in under 13 months, private placements, and bonds sold by private nonprofit electric cooperatives are excluded. Each firm is credited with the full par value for each issue in which it served as senior or co-manager. Source: IPREO (12/31/08).

Top Managing Underwriters of 2008