FUND STATISTICS

as of February 29, 2008

KENTUCKY TAX-FREE INCOME SERIES

Portfolio Composition:	*100% Kentucky Municipal Bonds*

Inception Date:	July 3, 1979
Total Net Assets:	$685,515,737.60
Dividends:	Accrued - Daily
	Distributed - Quarterly

Quality Composition:	Short-Term	0.00%
	Aaa/AAA	82.23%
	Aa/AA	12.59%
	A	2.73%
	Baa/BBB	0.73%
	Non-Rated*	1.72%

KENTUCKY TAX-FREE SHORT-TO-MEDIUM SERIES

Portfolio Composition:	*100% Kentucky Municipal Bonds*

Inception Date:	September 15, 1987
Total Net Assets:	$53,995,726.86
Dividends:	Accrued - Daily
	Distributed - Monthly

Quality Composition:	Short-Term	0.00%
	Aaa/AAA	58.52%
	Aa/AA	35.23%
	A	3.39%
	Baa/BBB	0.98%
	Non-Rated*	1.88%

* We buy non-rated bonds only if, in our opinion, they are of investment grade quality.

We do not buy bonds that are subject to the Alternative Minimum Tax.

(Portfolio listings are available upon request.)