Commentary: Yields on the BMA-PGBI decreased by 2 pps and its value increased by 0.02% to close at 98.2099. The fixed income securities market remained stable throughout the day, however the BMA-PGBI increased on account of interest rate return.

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Index Statistics               17-Aug-05     16-Aug-05        Change
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BMA-PGBI          (Index Value)  98.2099  98.1893   0.0206   (0.02%)
Principal Return  (Index Value)  84.2258  84.2250   0.0007   (0.00%)
Interest Return    %               16.60%   16.58%  0.0002   (0.14%)
Average Coupon     %             10.4774  10.4775  -0.0001   (0.00%)
Average Maturity   %              5.9922   5.9950  -0.0028  (-0.05%)
Average Yield      %              9.1388   9.1406  -0.0018  (-0.02%)
Average Duration         Value    4.1606   4.1633  -0.0026  (-0.06%)
Average Convexity        Value   28.2212  28.2214  -0.0002   (0.00%)
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