J.P. Morgan Securities, Inc., puttable tax-exempt receipts, series 2580 relating to the City of Austin, Texas' (Travis and Williamson counties), public improvement refunding bonds, series 2008 are rated 'AAA/A-1+'. The long-term component of the rating is based on the 'AAA' rated City of Austin, Texas' (Travis and Williamson counties), public improvement refunding bonds, series 2008. The short-term component of the rating is based on a liquidity facility provided by JPMorgan Chase&Co., scheduled to expire March 12, 2009. The receipt holders' ability to receive the purchase price from the liquidity provider may terminate without notice under certain conditions set forth in the documents. The short-term portion of the rating does not apply to any receipts that are designated "restricted
