2007 PARRS Rate Reset Calculation Illustrations

1998 Series D (TVC) Calculation

The coupon rate on the 1998 Series D PARRS (TVC) may be reset downward, under certain conditions, on June 1 of each year. The coupon rate will be reset if the sum of the average of the U.S. Treasury 30-Year CMT rate for the week ending the last Friday in April, plus 0.94% (94 basis points), is less than the current coupon rate.

2007 Reset Calculation for TVC
Date		U.S. Treasury 30-YR CMT Rate (1)
04/23/2007		4.83%
04/24/2007		4.80%
04/25/2007		4.83%
04/26/2007		4.87%
04/27/2007		4.89%
	Average	4.844%
	+94 Basis Points (2)	0.940%
	= Calculated Rate(3)	5.784%
	Current Rate	5.490%
		NO RESET
(1) Per 1998 Series D Offering Circular, and 1998 Series D Legal Notice
(2) Per 1998 Series D Offering Circular
(3) Coupon rate will reset if Calculated Rate is below the Current Rate.

1999 Series A (TVE) Calculation

The coupon rate on the 1999 Series A PARRS (TVE) may be reset downward, under certain conditions, on May 1 of each year. The coupon rate will be reset if the sum of the average of the U.S. Treasury 30-Year CMT rate for the week ending the last Friday in March, plus 0.84% (84 basis points), is less than the current coupon rate.

2007 Reset Calculation for TVE
Date		U.S. Treasury 30-YR CMT Rate (1)
03/26/2007		4.79%
03/27/2007		4.81%
03/28/2007		4.83%
03/29/2007		4.83%
03/30/2007		4.84%
	Average	4.820%
	+84 Basis Points (2)	0.840%
	= Calculated Rate(3)	5.660%
	Current Rate	5.618%
		NO RESET
(1) Per 1999 Series A Offering Circular, and 1999 Series A Legal Notice
(2) Per 1999 Series A Offering Circular
(3) Coupon rate will reset if Calculated Rate is below the Current Rate.