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part 1 of 3
Rank Fund Name Bank
1 Excelsior TXE Long-Term U.S. Trust Corp.
2 Dreyfus Basic Municipal Bond Fd Mellon Bank, N.A.
3 Vision NY Tax-Free Fund First Empire State Corp.
4 Dreyfus General CA Muni Bond Mellon Bank, N.A.
5 Dreyfus Premier VA Muni A Mellon Bank, N.A.
6 Dreyfus Premier TX Muni A Mellon Bank, N.A.
7 Dreyfus Premier CA Muni A Mellon Bank, N.A.
8 Emerald FL Tax Exempt Inst Barnett Banks
9 Dreyfus MA Tax Exempt Bond Mellon Bank, N.A.
10 Sierra Tr FL Ins Municipal A Great Western Financial
11 Sierra Tr CA Municipal Bond A Great Western Financial
12 Overland Express CA Tax Free A Wells Fargo Bank, N.A.
13 Dreyfus Premier VA Muni B Mellon Bank, N.A.
14 Dreyfus Insured Muni Bond Mellon Bank, N.A.
15 Nations Muni Income Fd Pr A NationsBank Corporation
16 Munder MI Triple Tax-Free Bond K Comerica Bank
17 Emerald FL Tax Exempt Ret Barnett Banks
18 Dreyfus General NY Muni Bond Mellon Bank, N.A.
19 Norwest CO Tax Free A Norwest Bank Minnesota N.A.
20 Dreyfus Premier NC Muni A Mellon Bank, N.A.
21 Dreyfus Premier MA Muni A Mellon Bank, N.A.
22 Dreyfus NY Insured Tax Exempt Mellon Bank, N.A.
23 Stagecoach CA Tax-Free Bond A Wells Fargo Bank, N.A.
24 Compass Capital-Tax Free Inc Svc PNC Bank Corp
25 Dreyfus Premier OH Muni A Mellon Bank, N.A.
Bank Proprietary Muni Avg
Non-Bank Muni Fund Averages
Lehman Bros Muni
part 2 of 3
Rank Fund Name Investment Objective
1 Excelsior TXE Long-Term Municipal Bond
2 Dreyfus Basic Municipal Bond Fd Municipal Bond
3 Vision NY Tax-Free Fund Municipal Single State
4 Dreyfus General CA Muni Bond Municipal Single State
5 Dreyfus Premier VA Muni A Municipal Single State
6 Dreyfus Premier TX Muni A Municipal Single State
7 Dreyfus Premier CA Muni A Municipal Single State
8 Emerald FL Tax Exempt Inst Municipal Single State
9 Dreyfus MA Tax Exempt Bond Municipal Single State
10 Sierra Tr FL Ins Municipal A Municipal Single State
11 Sierra Tr CA Municipal Bond A Municipal Single State
12 Overland Express CA Tax Free A Municipal Single State
13 Dreyfus Premier VA Muni B Municipal Single State
14 Dreyfus Insured Muni Bond Municipal Bond
15 Nations Muni Income Fd Pr A Municipal Bond
16 Munder MI Triple Tax-Free Bond K Municipal Single State
17 Emerald FL Tax Exempt Ret Municipal Single State
18 Dreyfus General NY Muni Bond Municipal Single State
19 Norwest CO Tax Free A Municipal Single State
20 Dreyfus Premier NC Muni A Municipal Single State
21 Dreyfus Premier MA Muni A Municipal Single State
22 Dreyfus NY Insured Tax Exempt Municipal Single State
23 Stagecoach CA Tax-Free Bond A Municipal Single State
24 Compass Capital-Tax Free Inc Svc Municipal Bond
25 Dreyfus Premier OH Muni A Municipal Single State
Bank Proprietary Muni Avg
Non-Bank Muni Fund Averages
Lehman Bros Muni
part 3 of 3
TOTAL RETURN THROUGH SEPTEMBER 30, 1996 (%)
Rank Fund Name Fund Ass Third Latest Latest Latest Latest
6/30/96Quarter 9 Months1 Year* 3 Years*5 Years*
1 Excelsior 100.61 3.93 0.63 7.69 6.07 9.08
2 Dreyfus Ba 48.5 3.27 1.8 7.43
3 Vision NY 67.8 3.04 1.33 5.99 4.76
4 Dreyfus Ge 298.8 3.03 1.55 6.85 3.9 7.31
5 Dreyfus Pr 61.6 2.85 1.8 7.09 4.2 8.01
6 Dreyfus Pr 62.9 2.82 1.97 6.98 5.09 8.23
7 Dreyfus Pr 168.9 2.81 1.26 6.42 3.96 7.23
8 Emerald FL 33.36 2.79 0.6 5.91
9 Dreyfus MA 152.9 2.77 1.66 6.16 3.68 6.73
10 Sierra Tr 29.84 2.74 0.86 7.23 3.33
11 Sierra Tr 372.2 2.74 1.87 6.66 3.46 7
12 Overland E 246.14 2.73 1.57 6.58 4.43 7.32
13 Dreyfus Pr 34.1 2.72 1.41 6.54 3.65
14 Dreyfus In 228.4 2.71 0.29 4.83 2.07 5.85
15 Nations Mu 64.86 2.7 2.1 6.92 4.46 7.63
16 Munder MI 29.5 2.66 0.61 4.98
17 Emerald FL 86.67 2.64 0.29 5.39 3.02 7.13
18 Dreyfus Ge 310.7 2.64 0.6 5.38 3.2 7.14
19 Norwest CO 26.9 2.63 2.35 6.93 4.44
20 Dreyfus Pr 46.6 2.62 1.88 7.05 3.53 7.5
21 Dreyfus Pr 68.4 2.62 1.66 5.5 4.01 7.17
22 Dreyfus NY 149 2.6 0.05 4.05 2.74 6.13
23 Stagecoach 275.43 2.59 1.27 6.28 3.79
24 Compass Ca 35.2 2.59 2.61 7.14 4.59 7.53
25 Dreyfus Pr 255.3 2.57 1.67 5.79 4.34 7.43
Bank Propr 65.5 1.97 1.1 4.86 3.72 6.71
Non-Bank M 157.94 2.17 1.08 5.46 3.69 6.77
Lehman Bros Muni 2.29 1.84 6.04 4.78 7.45
Data Source: The data were provided by CDA/Wiesenberger, Rockville, Md.,
