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Negotiated & competitive underwriting <br />Bond election services <br />Credit enhancement <br />Financial advisory services <br />Refundings <br />Rating agency presentations <br />Tailored quantitative analysis <br />Variable rate offerings & remarketings <br />Investment of bond proceeds <br />Escrow restructuring <br />Interest rate swaps <br />For more information, contact: <br />Vicki Mattox, Senior Vice President <br />717 Seventeenth Street, Suite 2500 Denver, Colorado 80202 <br />(303) 292 -1600 or mattox @gkbaum.coni <br />• ; George K. Baum & Company <br />Investrnent Bankers Since 1928 <br />*Source: AI' b i;eri on numhrr o{ issues senior or co- managers in 200.3 Member NASD S (PC <br />