James Maxwell Moody

One Bank — Interest

Bank of America — Interest

Regions Bank — Interest

Telco Fed. Credit Union — Int/Div

A Very Special Tea Room (Y) — Part VIII, Note 1

Regions Bank/Morgan Keegan (IRA) — Int/Div

Janus Global Tech Fnd — Interest

Vanguard Growth Index Fund (IRA) — Interest

BH&M Oil Comm. Stock — Int/Div

Putnam Amer. Growth & Income Fnd — Int/Div

Amer. Funds AMCAP Fnd — Int/Div

Fidelity Eq. Aggr. Growth Fnd — Int/Div

ACCT 1-2 (IRA) (MS) — Int/Div

IShares Russell 2000 Value Fund — Sold (part)

IShares Russell 2000 Growth — Sold (part)

IShares Russell 1000 Gr Index — Sold (part)

IShares Russell 1000 Value Index — Sold (part)

IShares Russell Midcap G Index Fd — Sold (part)

IShares S&P Midcap 400 Value — Sold (part)

IShares S&P Midcap 400 Growth — Sold (part)

IShares S&P 500 Growth Index — Sold (part)

IShares MSCI Emerging Mkts Fd — Sold (part)

IShares S&P Europe 350 Mkt Fnd — Sold (part)

Shares MSCI Japan Index Fnd — Sold (part)

Liquid Asset MM Fund

ACCT 1-4 (Trustl) (SA) — Int/Div

Greene Cnty AR Housing

Pul Cnty AR Hsp Revs Chldm's Hosp

Union Cnty AR Housing — Sold (part)

Pul Cnty AR Hlth. Fac. Catholic — Redeemed

UA-Faytvl Var Fac

Jonesboro AR Res Housing — Sold (part)

Drew Cty AR School Dist 5 — Redeemed

Springdale AR Sch Dist #50

Booneville AR School Dist — Buy (add'l)

Springdale AR SD050

LR AR HIth Fac Bd Baptist Med Center

Conway AR Pub Fac Bd Cap Impts Rev R ef Hendrix

AR St Rfdg Water Waste Disp & Poll C B/E

AR StUniv Rev Hsg Sys FGIC B/E

NLR Hlth Fac Bd Hith Care RV Ref Bap Hlth BIE

FtSmith AR W&S Rev Ser C FSA B/E

AR State High Ed Ser B B/E (X) — Part VIII, Note 2

Univ AR Univ Rev Var Fac Fytvl Campus A B/E FGIC (X) — Part VIII, Note 3

Mansfield AR School Dist 65 RFDG & C onstr B/E — Buy

Mansfield AR School Dist 65 RFDG & C onstr B/E — Redeemed

Arkadelphia AR Pub Ed Facs Rev Ouach ita Bapt Univ B/E — Buy

Rogers AR Sewer Rev Imprvmt Ambac B/ E — Buy

ACCT 1-5(IRA) (MS) — Int/Div

MS Liquid Asset MM Fnds

Activision Blizzard Inc (formerly Activitior Inc)

ACCT 1-6 (Trust?) — Int/Div

First Southwest Prime MM Fnds

ABN AMRO Holding NV — Sold

Alcoa, Inc. — Buy (add'l)

Alcoa, Inc. — Sold

Alcoa, Inc. — Buy

BP Amoco — Sold

Banco Bilbaovizcaya

Bank of America Corp. — Buy (add'l)

Bayerische — Sold

Berkshire Hathaway, Inc

Bristol Myers Squibb Co.

CIT Group, Inc

Chubb Corp. — Sold

Costco

Dow Chemical Co.

Federated Dept. Stores

Fiserv, Inc.

General Motors Corp.

GlaxoSmithKline

IBM Corp. — Sold

ING Groep — Sold

Intel Corp. — Sold

International Paper Co.

IShares MSCI Japan Indx Fd

J. Sainsbury

Johnson & Johnson, Inc — Sold

Jones Apparel Group, Inc — Sold

Koninklijke — Sold

LafargeS.A

Lexmark Int. Group

Limited Brands, Inc

MGIC Investment Corp.

Markel Corp

Microsoft Corp.

Neenah Paper, Inc, — Closed

Newmont Mining Corp.

PNC Financial Svcs Grp (formerly PNC Bank)

Petroleo Brasileiro SA

Pfizer, Inc

Public Service Enterprise — Buy

Repsol SA — Sold

Spectra Energy Corp.

Sumitomo Mitsui — Sold

Taiwan Semiconductor Mfg

Telefonica de Espana SA

Telefonos de Mexico

Tim Participacoes

Unilever NV

Vivo Participacoes SA — Sold

Washington Mutual, Inc

Wells Fargo & Co. — Sold

Western Union

Calamos Growth CL C

Davis NY Venture CL C

Oppenheimer Global CL C — Buy

Oppenheimer Global CL C — Buy (add'l)

ACCT 1-7 (Trust3) (MS) — Int/Div

Morgan Stanley Com. Stock

Wal-Mart Stores Com. Stock

MS Spectrum Technical

MS Spectrum Currency

MS MM fnds

Discover Fincl Svcs (X)

ACCT 1-8 (Trustd) (SA) — Int/Div

LR AR School Dist. Ser. B

Pul Cnty AR Chldm's Hosp

Heber Springs School District

Fort Smith AR W&S Rev Ser C FSA B/E X) — Part VIII, Note 4

Fed Home Loan Mtge Corp Med Term Not e

General Motors Corp Note

Muni Cash Trust Fnds

AR St Rfdg Water Waste Disp & Pollution Muni Debt

ACCT 2-1 (MS)

Money Trust MM Fnds — Interest

Chevron Texaco — Int/Div

First Horizon National Corp. — Int/Div

SunTrust Banks — Int/Div

General Electric Co. — Int/Div

Apple, Inc — Buy

Apple, Inc — Donated

ACCT 2-2 (IRA) (MS) — Int/Div

Liquid Asset MM funds

FedEx Corp

Intel

General Electric

Qualcomm, Inc

Yahoo, Inc. — Sold

Healthways, Inc. — Buy (add'l)

MS Flexible Income Trust B

Activision Blizzard Inc (formerly Activiti on Inc)

Blackstone Group LP

Morgan Stanley

Berkshire Hathaway B (Hldg Co) — Buy

Goldman Sachs Grp, Inc — Buy

ACCT 2-3 (TrustS) (MS) — Int/Div — Part VIII, Note 5

Cisco

Dell Computer

General Electric

Microsoft

Morgan Stanley — Sold

Tarrant Cnty TX Health Resources Tacs.

MS Tax Exempt Sec

Enterprise Bnk Natl Assoc Omaha NE

Greenbank CD

Discover Fincl Svcs

Chesapeake Energy Corp — Buy

Celgene Corp — Buy

ACCT 2-4 (IRA) (MS) — Int/Div

Liquid Asset Fund

Banco Santander CD — Redeemed

Dallas City Bank CD — Redeemed

Discover Bank CD

Evergreen Solar Inc — Buy

Wash Mut Bk CD — Buy

ACCT 2-5 (iDealing com. stock) — Int/Div

Spouse's income — 2008 — Tutoring

Note I: Part VII, Page 4, Line 5 — Retain public rights only; no financial value; no income.

Note 2: Part VII, Page 6, Line 44 -- Asset inadvertently omitted from prior report (CY 2007); acquired 7/23/07, Value Code "K".

Note 3: Part VII, Page 6, Line 45 -- Assetinadvertently omitted from prior report (CY 2007); acquired 5/17/07, Value Code "K".

Note 4: Part VII, Page I I, Line 121 -- Asset inadvertently omitted from prior report (CY 2007); acquired 9/24/07; Value Code "J".

Note 5: Part VII, Page 12, Line 148 -- Filer holds no position in Acct. 2-3 (Trust5).

Note 6: CY 2007 FDR, Part VII, Page 4, Line 13 -- Asset merged in 2002 with account on Line 20 (coirectly reported) and sold in 2003

Note 7: CY 2007 FDR, Part VII, Page 7, Line 67 -- Real estate asset is for personal use only; not investment; no income.