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Municipal bond mutual funds, with assets of $25 million or more, ranked by the total return in the second quarter

(Dollar amounts in millions)

part 1 of 3

Rank Fund Name Bank

1 Boston 1784 Funds-CT Tax-Ex Inc BankBoston Corp.

2 CitiFunds NY Tax Free Income Citicorp

3 Victory Portf-OH Municipal Bond KeyCorp

4 Norwest Advantage-T/F Income A Norwest Corp.

5 Boston 1784 Funds-T/E Med Term ABankBoston Corp.

6 Dreyfus Basic Municipal Bond Fd Mellon Bank Corp.

7 Evergreen FL High Income Muni A First Union Corp.

8 Norwest Advantage-MN Tax Free A Norwest Corp.

9 Norwest Advantage-T/F Income I Norwest Corp.

10 Dreyfus Premier MA Muni A Mellon Bank Corp.

11 Piper MN Tax-Exempt A First Bank

12 Stagecoach CA Tax Free Bd A Wells Fargo & Co.

13 Excelsior TXE Long-Term U.S. Trust Corp.

14 Galaxy Tax Exempt Bond Inst Fleet Financial Group

15 Dreyfus Premier TX Muni A Mellon Bank Corp.

16 Dreyfus Premier MI Muni A Mellon Bank Corp.

17 STI Classic Inv Grade T/E Tr SunTrust Banks Inc.

18 Chase Vista Tax Free Income A Chase Manhattan Corp.

19 Pegasus Municipal Bond I (1) First Chicago NBD Corp.

20 Piper National Tax-Exempt Fd First Bank

21 Galaxy NY Muni Bond Inst Fleet Financial Group

22 Dreyfus General CA Muni Bond Mellon Bank Corp.

23 Evergreen NC Muni Bond Y First Union Corp.

24 Evergreen VA Muni Bond Y First Union Corp.

25 Dreyfus Basic Interm Muni Bd Mellon Bank Corp.

Average for top 25 funds with $25 million or more in assets

Average for all 220 funds with $25 million or more in assets

Averages for all 495 bank proprietary municipal funds

Nonbank Avg

Lehman Brothers Municipal

part 2 of 3

Fund Assets First Latest

Rank Investment Objective 3/31/98 Qtr. to Date

1 Municipal - Single St 130.2 1.8 3.05

2 Municipal - Single St 115.6 1.76 2.86

3 Municipal - Single St 78.3 1.76 2.71

4 Municipal - National 32 1.74 2.62

5 Municipal - National 303.2 1.71 2.66

6 Municipal - National 159.1 1.68 2.78

7 Municipal - Single St 157.3 1.66 3.17

8 Municipal - Single St 33.2 1.66 2.76

9 Municipal - National 281.9 1.65 2.62

10 Municipal - Single St 61.2 1.63 2.83

11 Municipal - Single St 121.5 1.62 2.6

12 Municipal - Single St 510.9 1.6 2.86

13 Municipal - National 149.2 1.6 2.64

14 Municipal - National 131.1 1.6 2.47

15 Municipal - Single St 60.6 1.6 2.94

16 Municipal - Single St 153.7 1.59 2.72

17 Municipal - National 145.1 1.59 2.7

18 Municipal - National 59.8 1.59 2.32

19 Municipal - National 365.4 1.58 2.34

20 Municipal - National 46.2 1.58 2.52

21 Municipal - Single St 32.1 1.56 2.51

22 Municipal - Single St 292.2 1.55 2.43

23 Municipal - Single St 260.6 1.55 2.62

24 Municipal - Single St 103.6 1.55 2.5

25 Municipal - National 82 1.55 2.57

Ave 154.6 1.63 2.67

Ave 176.2 1.29 2.23

Ave 82.2 1.23 2.11

Non 172.1 1.31 2.26

Sal - 1.52 2.69

part 3 of 3

Latest

Rank Investment O 1 Year* 3 Years* 5 Years* 10 Years*

1 Municipal - 8.22 7.11 - -

2 Municipal - 8.84 7.7 5.74 7.85

3 Municipal - 8.47 7.58 6.43 -

4 Municipal - 9.65 8.49 6.53 -

5 Municipal - 8.68 7.44 6.26 -

6 Municipal - 9.42 8.89 - -

7 Municipal - 10.01 8.89 7.58 -

8 Municipal - 9.08 7.67 6.15 7.3

9 Municipal - 9.55 8.49 - -

10 Municipal - 8.85 7.19 5.82 8.01

11 Municipal - 8.25 7.26 6.16 -

12 Municipal - 8.99 7.99 6.35 -

13 Municipal - 8.61 8.52 7.56 9.53

14 Municipal - 8.48 7.28 5.81 -

15 Municipal - 9.03 8.39 6.95 9.18

16 Municipal - 8.33 7.47 6.31 8.57

17 Municipal - 7.35 7.23 - -

18 Municipal - 8.66 7.71 5.69 8.81

19 Municipal - 8.58 7.33 - -

20 Municipal - 8.48 7.5 5.66 -

21 Municipal - 8.49 7.22 5.64 -

22 Municipal - 8.73 7.83 5.97 -

23 Municipal - 10.21 8.18 - -

24 Municipal - 9.15 7.99 - -

25 Municipal - 7.88 7.23 - -

Ave 8.8 7.78 6.27 8.46

Ave 7.54 6.73 5.44 7.63

Ave 7.32 6.52 5.25 7.26

Non 7.9 7.01 5.54 7.58

Sal 8.64 7.84 6.46 8.3 ===

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