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AMBAC INDEMNITY CORPORATION AMBAC Indemnity Corporation ("AMBAC Indemnity') is a Wisconsin -domiciled stock insurance oorporatlon regulated by the Office of the Commissioner of Insurance of the State of Wisconsin and licensed to do business in 50 states, the District of Columbia, and the Commonwealth of Puerto Rico, with admitted assets of approximately $2,204,000,000 (unaudited) and statutory capital of approximately $1,237,000,000 (unaudited) as of March 319 1895. Statutory capital consists of AMBAC Indermitys policyholders' surplus and statutory contingency reserve. AMBAC Indemnity is a wholly owned subsidiary of AMBAC Inc., a 100% publicly4wld company. Standard & Poor's Corporation, Moodys Investors Service and Fitch Investors Service, Inc. have each assigned a triple-A claims - paying ability rating to AMBAC Indemnity. Copies of AMBAC Inderrnitys financial statements prepared in accordance with statutory accounting standards are available from AMBAC Indemnity. The address of AMBAC Indemnitys administrative offices and its telephone number are One State Street Plaza, 17th Floor, New'York, New York, 10004 and (212) 668-0340. AMBAC Indemnity has entered into pro rata reinsurance agreements under which a perrsntage of the insurance underwritten pursuant to certain municipal bond insurance programs of AMBAC Indemnity has been and will be assumed by a number of foreign and domestic unaffiliated reinsurers. AMBAC Indemnity has obtained a ruling from the Internal Revenue Service to the effect that the insuring of an obligation by AMBAC Indemnity will not affect the treatment for federal income tax purposes of interest on such obligation and that insurance proceeds representing maturing interest paid by AMBAC Indemnity under policy provisions substantially identical to those contained in its municipal bond insurance policy shall be treated for federal income tax purposes in the same manner as if such payments were made by the issuer of the Bonds. [THE FOLLOWING MUST BE INCLUDED IN ANNUAL APPROPRIATION LEASE TRANSACTIONS: No representation is made by AMBAC Indemnity regarding the federal income tax treabnsnt of payr nents that are made by AMBAC Indemnity under the terms of the Policy due to nonapproprindon of funds by the Lessee.] AMBAC Indemnity makes no representation regarding the Bonds or the advisability of investing in the Bonds and makes no representation regarding, nor has it participated in the preparation of, the Official Statement other than the information supplied by AMBAC Indemnity and presented th under e heading of Is