Manuel Lawrence Real

Wells Fargo Bank, San Pedro, CA — Interest

San Pablo Muni Bond, San Pablo, CA — Interest

Rockland Cal. Uni School Dist., Rockland, CA — Interest

California St. Ambac CRC — Interest

American Express - CD — Interest

Trust #1 - Trustee, no beneficial interest

Bonds:

Sears Roebuck Acceptance Corp. — Int/Div — Buy

GMACLLC — Interest — Redeemed

Ford Motor Credit Co. — Interest

Ford Motor Co. Del — Interest

Hertz Corp. — Interest

Lehman Bros. Mtn. Var — Interest — Sold

Sprint Capital Corp — Interest — Buy

California State General Obligation — Interest — Sold (part)

California State General Obligation — Sold (part)

California State General Obligation — Sold (part)

California State General Obligation — Sold (part)

Los Angeles County Calif Sch Reg — Interest — Buy

Penn West Energy - stock — Interest

Provident Energy - stock — Interest

Enerplus Resources Fund - stock — Interest

Energy Transfer Partners - stock — Interest

Kinder Morgan Energy - stock — Interest

Windsweam Corp - stock — Interest — Buy (add'l)

Williams Pipelin Partners - stock — Interest

Boardwalk Pipeline Partners - stock — Int/Div — Buy (add'l)

Genesis Energy - stock — Interest — Buy

Senior Housing Prop Tr Reit - stock — Interest — Buy

Venzon Communications - stock — Interest — Buy

Health Care Reit, Inc. - stock — Interest — Buy

Money Market - SDIT Govt II Fund Ticker: 33 — Interest

Bank of America (accounts) — None

Los Angeles Cnty Calif Sch Reg — Interest — Sold

Reimbursement — FREE — July 18-22 — Gallatin Gateway, MT — Seminar — meals, lodging & transportation

Reimbursement — George Mason University — September 23-26 — Alexandna, VA — Seminar — meals, lodging & transportation