1. Florida State Treasury Investments

2. 2 Total Treasury Investment Portfolio as of November 30, 2007

3. 3 Sector Distribution as of November 30, 2007 No direct CDO exposure

4. 4 Treasury Portfolio Maturity Distribution as of November 30, 2007 Effective Duration – 3.59 years

5. 5 Treasury Portfolio Quality Distribution as of November 30, 2007 S&P Ratings

6. 6 Treasury Portfolio - Sub-Prime Rating Distribution as of November 30, 2007 This information includes securities held in mortgage backed and asset backed programs.

7. 7 Treasury Portfolio - Sub-Prime Mortgage Exposure as of November 30, 2007

8. 8 Securities Lending Portfolio Sector Distribution as of November 30, 2007 Investments from Securities Lending Activities - $5,194,998,520.30

9. 9 Securities Lending Portfolio SIV Breakdown as of November 30, 2007* Links Finance LLC.  MV: $11,551,484.00  Sub-Prime: $1,155.15 ABS CDO: $168,651.67 CC USA Inc.  MV: $53,050,745.74  Sub-Prime: $0.00 ABS CDO: $100,796.42 Beta Finance Inc.  MV: $61,223,490.94  Sub-Prime: $0.00 ABS CDO: $42,856.44 K2 (USA) LLC  MV: $108,277,564.29  Sub-Prime and ABS CDO: $0.00 Liberty Lighthouse US Capital  MV: $95,116,000.00  Sub-Prime: $0.00 ABS CDO: $1,521,856.00 Sigma Finance Inc.  MV: $92,611,961.42  Sub-Prime: $0.00 ABS CDO: $416,753.83 Five Finance Inc.  MV: $3,711,690.23  Sub-Prime: $0.00 ABS CDO: $1,855.85 Tango Finance Corp.  MV: $62,773,759.98  Sub-Prime: $232,262.91 ABS CDO: $106,715.39 Dorada Finance Inc  MV: $48,668,195.03  Sub-Prime: $0 ABS CDO: $73,002.29 Sedna Finance Inc.  MV: $52,516,640.00  Sub-Prime and ABS CDO: $0 Total Market Value: $589,501,531.63 Total Sub-prime/ABS CDO: $2,665,905.95 *Information obtained through our securities lending vendors and represents a conservative estimate of each holdings unwrapped exposure to the sub- prime market.

10. 10 Securities Lending Portfolio SIV Characteristics  Senior Notes AAA rated with some on negative credit watch  5.2 – 20% excess coverage  Sub-prime exposure minimal  All maturities are within 3 years  Sponsors will be backing the following SIVs by incorporating them on their balance sheets: CC USA Inc. Beta Finance Five Finance Tango Finance Dorada Finance Sedna Finance

11. 11 Acronyms  ABS – Asset Backed Security  BA – Bankers Acceptance  CD – Certificate of Deposit  CDO – Collateralized Debt Obligation  CP – Commercial Paper  MBS – Mortgage Backed Security  MV – Market Value  SIV – Structured Investment Vehicle  SPIA – Special Purpose Investment Account