Pooled Money Investment Account

Zero WaMu Exposure

September 26, 2008

The PMIA/LAIF investment staff unwound our collateralized time deposit positions with WaMu over the last few months and refrained from investing in the negotiable securities issued by WaMu starting late last fall. Consequently, the PMIA/LAIF investment portfolio has zero WaMu exposure.

Daniel S. Dowell
Director of Investments