+++ Municipal bond mutual funds ranked by the total return in the first quarter (dollar amounts in millions) Set 1 of 3 Rank Fund Name Bank 1 First Union SC Muni Bond Y First Union National Bank of N.C. 2 First Union SC Muni Bond A First Union National Bank of N.C. 3 First Union SC Muni Bond B First Union National Bank of N.C. 4 UST Master-TXE Long-Term U.S. Trust Corp. 5 First Union VA Muni Bond Y First Union National Bank of N.C. 6 First Union VA Muni Bond A First Union National Bank of N.C. 7 First Union VA Muni Bond B First Union National Bank of N.C. 8 First Union NC Muni Bd A First Union National Bank of N.C. 9 First Union FL Muni Bond Y First Union National Bank of N.C. 10 Dreyfus Premier AZ Muni A Mellon Bank, N.A. 11 First Union FL Muni Bond A First Union National Bank of N.C. 12 First Union NC Muni Bd B First Union National Bank of N.C. 13 Dreyfus Premier AZ Muni B Mellon Bank, N.A. 14 First Union GA Muni Bond Y First Union National Bank of N.C. 15 First Union FL Muni Bond B First Union National Bank of N.C. 16 First Union GA Muni Bond A First Union National Bank of N.C. 17 Nations NC Muni Bond Tr A NationsBank Corporation 18 First Union High Grade Tax A First Union National Bank of N.C. 19 First Union GA Muni Bond B First Union National Bank of N.C. 20 Nations NC Muni Bond Inv A NationsBank Corporation 21 Dreyfus Premier GA Muni A Mellon Bank, N.A. 22 Nations NC Muni Bond Inv N NationsBank Corporation 23 First Union High Grade Tax

Free B First Union National Bank of N.C. 24 PNC Fund-Tax Free Income Svc PNC Bank Corp 25 Nations FL Muni Bond Tr A NationsBank Corporation 26 Dreyfus Premier GA Muni B Mellon Bank, N.A. 27 Nations VA Muni Bond Tr A NationsBank Corporation 28 PNC Fund-Tax Free Income Inst PNC Bank Corp 29 Nations FL Muni Bond Inv A NationsBank Corporation 30 Nations VA Muni Bond Inv A NationsBank Corporation 31 Nations MD Muni Bond Tr A NationsBank Corporation 32 Nations MD Muni Bond Inv A NationsBank Corporation 33 PNC Fund-Tax Free Income A PNC Bank Corp 34 Nations TX Muni Bond Tr A NationsBank Corporation 35 Nations FL Muni Bond Inv N NationsBank Corporation 36 Nations Muni Income Fd Tr A NationsBank Corporation 37 Nations VA Muni Bond Inv N NationsBank Corporation 38 Nations GA Muni Bond Tr A NationsBank Corporation 39 Nations TN Muni Bond Tr A NationsBank Corporation 40 Nations TX Muni Bond Inv A NationsBank Corporation 41 Nations Muni Income Fd Inv A NationsBank Corporation 42 Pacific Capital T/F Secs B Bank of Hawaii 43 Nations GA Muni Bond Inv A NationsBank Corporation 44 Nations TN Muni Bond Inv A NationsBank Corporation 45 Nations MD Muni Bond Inv N NationsBank Corporation 46 Pacific Capital T/F Secs A Bank of Hawaii 47 Nations SC Muni Bond Tr A NationsBank Corporation 48 Nations SC Muni Bond Inv A NationsBank Corporation 49 Stagecoach CA Tax-Free Bond A Wells Fargo Bank, N.A. 50 Dreyfus Basic Municipal Bond F Mellon Bank, N.A.

Avg. for all 355 bank proprietary muni bond

All muni fund averages

Lehman Brothers muni Set 2 of 3

TOTAL RETURN THROUGH

MARCH 31, 1995 (%)

Fund Assets First Latest Rank Fund Name Investment Objective 12/31/94 Quarter 1 Year 1 First Union SC Municipal Single Stat 0.1 9.97 8.19 2 First Union SC Municipal Single Stat 0.3 9.9 7.92 3 First Union SC Municipal Single Stat 2.5 9.7 7.24 4 UST Master-TXE Municipal Bond 70.4 9.38 11.01 5 First Union VA Municipal Single Stat 0.3 9.32 8.82 6 First Union VA Municipal Single Stat 1.6 9.25 8.55 7 First Union VA Municipal Single Stat 3.8 9.05 7.87 8 First Union NC Municipal Single Stat 7.9 8.95 7.01 9 First Union FL Municipal Single Stat 2.3 8.88 7.68 10 Dreyfus Premie Municipal Single Stat 11.6 8.86 8.17 11 First Union FL Municipal Single Stat 8.6 8.82 7.41 12 First Union NC Municipal Single Stat 44.5 8.75 6.33 13 Dreyfus Premie Municipal Single Stat 7.3 8.72 7.63 14 First Union GA Municipal Single Stat 0.3 8.67 7.78 15 First Union FL Municipal Single Stat 24.7 8.62 6.73 16 First Union GA Municipal Single Stat 1.4 8.6 7.51 17 Nations NC Muni Municipal Single Stat 0.6 8.45 6.93 18 First Union Hig Municipal Bond 57.8 8.43 6.15 19 First Union GA Municipal Single Stat 6.9 8.4 6.83 20 Nations NC Muni Municipal Single Stat 1.2 8.4 6.67 21 Dreyfus Premier Municipal Single Stat 8.6 8.33 7.54 22 Nations NC Muni Municipal Single Stat 24.6 8.25 6.1 23 First Union Hig Municipal Bond 32.4 8.23 5.43 24 PNC Fund-Tax Fr Municipal Bond 2.4 8.23 8.09 25 Nations FL Muni Municipal Single Stat 4.8 8.21 8.12 26 Dreyfus Premier Municipal Single Stat 17 8.2 6.99 27 Nations VA Muni Municipal Single Stat 0.7 8.19 7.06 28 PNC Fund-Tax Fr Municipal Bond 0.9 8.18 8.35 29 Nations FL Muni Municipal Single Stat 1.1 8.16 7.88 30 Nations VA Muni Municipal Single Stat 0.2 8.14 6.85 31 Nations MD Muni Municipal Single Stat 1.3 8.13 32 Nations MD Muni Municipal Single Stat 0 8.07 6.47 33 PNC Fund-Tax Fr Municipal Bond 6.5 8.06 7.88 34 Nations TX Muni Municipal Single Stat 2.3 8.02 6.81 35 Nations FL Muni Municipal Single Stat 20.4 8.01 7.32 36 Nations Muni In Municipal Bond 57.4 8.01 7.04 37 Nations VA Muni Municipal Single Stat 13.3 7.99 6.27 38 Nations GA Muni Municipal Single Stat 0.3 7.99 6.75 39 Nations TN Muni Municipal Single Stat 0.3 7.98 7.82 40 Nations TX Muni Municipal Single Stat 0.1 7.97 6.55 41 Nations Muni In Municipal Bond 24.1 7.96 6.83 42 Pacific Capital Municipal Bond 258.5 7.95 43 Nations GA Muni Municipal Single Stat 0 7.95 6.56 44 Nations TN Muni Municipal Single Stat 0 7.93 7.61 45 Nations MD Muni Municipal Single Stat 5.1 7.93 5.93 46 Pacific Capital Municipal Bond 0.5 7.91 47 Nations SC Muni Municipal Single Stat 0.7 7.91 7.43 48 Nations SC Muni Municipal Single Stat 0.2 7.86 7.21 49 Stagecoach CA T Municipal Single Stat 305.8 7.85 6.95 50 Dreyfus Basic M Municipal Bond 22.8 7.85

Avg. for all 355 bank proprietary mu 77.3 6.21 5.95

All muni fund averages 155.2 6.5 5.88

Lehman Brothers muni 7.03 7.43 part 3 of 3

Latest Latest Latest Rank Fund Name 3 years* 5 years* 10 years* 1 First Union SC Muni Bond Y 2 First Union SC Muni Bond A 3 First Union SC Muni Bond B 4 UST Master-TXE Long-Term 9.83 9.76 5 First Union VA Muni Bond Y 6 First Union VA Muni Bond A 7 First Union VA Muni Bond B 8 First Union NC Muni Bd A 9 First Union FL Muni Bond Y 10 Dreyfus Premier AZ Muni A 11 First Union FL Muni Bond A 12 First Union NC Muni Bd B 13 Dreyfus Premier AZ Muni B 14 First Union GA Muni Bond Y 15 First Union FL Muni Bond B 16 First Union GA Muni Bond A 17 Nations NC Muni Bond Tr A 18 First Union High Grade Tax Fr 7.32 19 First Union GA Muni Bond B 20 Nations NC Muni Bond Inv A 21 Dreyfus Premier GA Muni A 22 Nations NC Muni Bond Inv N 23 First Union High Grade Tax Free B 24 PNC Fund-Tax Free Income Svc 7.17 25 Nations FL Muni Bond Tr A 26 Dreyfus Premier GA Muni B 27 Nations VA Muni Bond Tr A 28 PNC Fund-Tax Free Income Inst 7.3 29 Nations FL Muni Bond Inv A 30 Nations VA Muni Bond Inv A 31 Nations MD Muni Bond Tr A 32 Nations MD Muni Bond Inv A 33 PNC Fund-Tax Free Income A 7.06 34 Nations TX Muni Bond Tr A 35 Nations FL Muni Bond Inv N 36 Nations Muni Income Fd Tr A 7.23 37 Nations VA Muni Bond Inv N 38 Nations GA Muni Bond Tr A 39 Nations TN Muni Bond Tr A 40 Nations TX Muni Bond Inv A 41 Nations Muni Income Fd Inv A 7.06 42 Pacific Capital T/F Secs B 43 Nations GA Muni Bond Inv A 44 Nations TN Muni Bond Inv A 45 Nations MD Muni Bond Inv N 46 Pacific Capital T/F Secs A 47 Nations SC Muni Bond Tr A 48 Nations SC Muni Bond Inv A 49 Stagecoach CA Tax-Free Bond A 7.69 50 Dreyfus Basic Municipal Bond Fd

Avg. for all 355 bank proprie 6.67 7.59 8.41

All muni fund averages 6.79 7.56 8.65

Lehman Brothers muni 7.34 8.24 9.79 === Data Source: The data were provided by CDA/Wiesenberger, Rockville, Md., from its mutual funds data base. A proprietary fund is a fund that was formed or founded by a bank and/or over which the bank exercises management discretion. Excluded are private-label funds and all other third-party funds that are sold through banks. (*)- Annualized rate of return. American Banker, 1995

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.