BMA-PGBI Closing Bell

Yields on the BMA-PGBI decreased by approximately 6 pps and its value increased by 0.05% to close at 98.4889. Yields increased in both the short and long tenors by approximately 1 basis points while they decreased by approximately 2 basis points among the medium tenors. This decrease in yields in the medium tenors, coupled with interest rate return, more than negated the increase in yields in the short and long tenors, and thus resulted in the increase in value.

====================================================================

Index Statistics               26-Sept-05    25-Sept-05       Change

====================================================================

BMA-PGBI          (Index Value)  98.4889  98.4431   0.0458   (0.05%)

Principal Return  (Index Value)  83.6394  83.6106   0.0288   (0.03%)

Interest Return    %               17.75%   17.74   0.0001   (0.08%)

Average Coupon     %             10.4724  10.4727  -0.0002   (0.00%)

Average Maturity   %              5.8792   5.8814  -0.0022  (-0.04%)

Average Yield      %              9.2882   9.2940  -0.0057  (-0.06%)

Average Duration         Value    4.0701   4.0705  -0.0004  (-0.01%)

Average Convexity        Value   27.7085  27.7213  -0.0128  (-0.05%)

====================================================================