+++ Municipal bond mutual funds, with assets of $25 million or more, ranked by the total return for second quarter (dollar amounts in millions)

part 1 of 3

Rank Fund Name Bank

1 Dreyfus Premier NC Muni A Mellon Bank, N.A.

2 Dreyfus Premier NC Muni B Mellon Bank, N.A.

3 Dreyfus Premier VA Muni A Mellon Bank, N.A.

4 Dreyfus General CA Muni Bond Mellon Bank, N.A.

5 Dreyfus Premier VA Muni B Mellon Bank, N.A.

6 Sierra Tr FL Ins Municipal A Great Western Financial

7 1784 Funds-RI Tax Ex Income A First National Bank of Boston

8 Dreyfus MA Tax Exempt Bond Mellon Bank, N.A.

9 Dreyfus Premier MD Muni A Mellon Bank, N.A.

10 Dreyfus Basic Municipal Bond Fd Mellon Bank, N.A.

11 One Group-Muni Income Fid Banc One Corporation

12 Dreyfus Premier MD Muni B Mellon Bank, N.A.

13 Churchill Tax Free Fd of KY PNC Bank Corp

14 Dreyfus Premier CT Muni A Mellon Bank, N.A.

15 Norwest CO Tax Free A Norwest Bank Minnesota N.A.

16 Nations Muni Income Fd Pr A NationsBank Corporation

17 Overland Express Muni Income A Wells Fargo Bank, N.A.

18 Atlas CA Municipal Bond Fd A World Savings and Loan Associa

19 Vista NY Tax Free Income A Chase Manhattan, N.A.

20 Nations Muni Income Fd Inv A NationsBank Corporation

21 Dreyfus CA Tax Exempt Bond Mellon Bank, N.A.

22 1784 Funds-CT Tax-Exempt Income A First National Bank of

23 Norwest MN Tax Free A Norwest Bank Minnesota N.A.

24 Tower Louisiana Muni Hibernia National Bank

25 Dreyfus Premier MI Muni A Mellon Bank, N.A.

Bank Proprietary Muni Average

Nonbank Muni Fund Averages

Lehman Bros Muni

part 2 of 3

TOTAL RETURN THROUGH JUNE 30, 1996 (%)

Rank Investment Objective Fund Assets Second Latest

3/31/96 Quarter 6 Months

1 Dreyfus PremMunicipal Single Stat 48.1 1.58 -0.72

2 Dreyfus PremMunicipal Single Stat 43.1 1.45 -0.97

3 Dreyfus PremMunicipal Single Stat 61.8 1.35 -1.02

4 Dreyfus GeneMunicipal Single Stat 312.7 1.28 -1.44

5 Dreyfus PremMunicipal Single Stat 33.2 1.22 -1.28

6 Sierra Tr FLMunicipal Single Stat 30.6 1.18 -1.83

7 1784 Funds-RMunicipal Single Stat 35.9 1.18 0.17

8 Dreyfus MA TMunicipal Single Stat 145.7 1.16 -1.07

9 Dreyfus PremMunicipal Single Stat 288.5 1.09 -0.1

10 Dreyfus BasiMunicipal Bond 49.5 1.07 -1.42

11 One Group-MuMunicipal Bond 226.2 1.06 0.5

12 Dreyfus PremMunicipal Single Stat 40.9 1.03 -0.29

13 Churchill TaMunicipal Single Stat 225.7 1.02 0.13

14 Dreyfus PremMunicipal Single Stat 324.3 1.02 -0.2

15 Norwest CO TMunicipal Single Stat 27.9 1 -0.28

16 Nations MuniMunicipal Bond 68.3 0.99 -0.59

17 Overland ExpMunicipal Bond 54.1 0.97 -0.68

18 Atlas CA MunMunicipal Single Stat 177.7 0.94 -1.02

19 Vista NY TaxMunicipal Single Stat 95.4 0.94 -0.36

20 Nations MuniMunicipal Bond 26 0.94 -0.69

21 Dreyfus CA TMunicipal Single Stat 1397.1 0.94 -1.45

22 1784 Funds-CMunicipal Single Stat 75.8 0.93 -0.35

23 Norwest MN TMunicipal Single Stat 25.5 0.91 -0.87

24 Tower LouisiMunicipal Single Stat 65.1 0.89 -0.47

25 Dreyfus PremMunicipal Single Stat 169.7 0.89 -1.39

Bank Proprietary Muni Average 66.7 0.5 -0.85

Nonbank Muni Fund Averages 160 0.62 -1.09

Lehman Bros Muni 0.76 -0.45

part 3 of 3

Rank Fund Name Latest Latest Latest

1 Year* 3 Years*5 Years*

1 Dreyfus Premier NC Muni A 6.82 3.97

2 Dreyfus Premier NC Muni B 6.28 3.42

3 Dreyfus Premier VA Muni A 6.51 4.57

4 Dreyfus General CA Muni Bond 6.32 4.25 7.55

5 Dreyfus Premier VA Muni B 5.97 4.02

6 Sierra Tr FL Ins Municipal A 7.56 3.95

7 1784 Funds-RI Tax Ex Income A 6.25

8 Dreyfus MA Tax Exempt Bond 5.66 4.02 7.04

9 Dreyfus Premier MD Muni A 5.99 4.5 7.44

10 Dreyfus Basic Municipal Bond Fd 6.73

11 One Group-Muni Income Fid 5.54 4.43

12 Dreyfus Premier MD Muni B 5.5 3.95

13 Churchill Tax Free Fd of KY 5.85 4.63 7.19

14 Dreyfus Premier CT Muni A 5.84 4.19 7.39

15 Norwest CO Tax Free A 7.48 4.86

16 Nations Muni Income Fd Pr A 7.25 4.86 7.94

17 Overland Express Muni Income A 6.6 4.1

18 Atlas CA Municipal Bond Fd A 5.34 3.92 7.24

19 Vista NY Tax Free Income A 6.11 4.16 8.11

20 Nations Muni Income Fd Inv A 7.04 4.67 7.78

21 Dreyfus CA Tax Exempt Bond 4.55 2.93 5.87

22 1784 Funds-CT Tax-Exempt Income 6

23 Norwest MN Tax Free A 6.3 4.69 6.45

24 Tower Louisiana Muni 6.03 4.48 7.39

25 Dreyfus Premier MI Muni A 6.24 5.14 8.21

Bank Proprietary Muni Average 5.3 4.13 6.99

Nonbank Muni Fund Averages 5.56 4.13 7.13

Lehman Bros Muni 6.64 5.15 7.78 ===

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