Stephen F. Austin State University
	Summary of Investments
		August 31, 2005			August 31, 2005
			Book Value		Market Value
	Equity Securities:
	U.S. Common Stock		4,651,137		5,888,728
	Equity Mutual Funds
	Other Equity Securities (list)
	Total Equities		4,651,137		5,888,728
	Other Investments:
	Real Estate
	Private Equity
	Annuities
	Collective Endowment Funds
	Commodities
	Collectibles
	Other (list)
	Total Other Investments
	Debt Investments >1 year:
	U.S. Government		7,308,515.00		7,381,852.00
	Bond Proceeds U.S. Government		2,982,945.86		2,962,580.00
	U.S. Government Agency		268,813.00		273,490.00
	Mortgage Pass Throughs		0.00		0.00
	C.M.O.s
	Interest Only Strips
	Principal Only Strips
	Inverse Floaters
	Stated Maturities longer than 10 years
	PFIA Compliant C.M.O.s
	Other Asset-Backed Bonds
	Foreign Issued Obligations
	Municipal Obligations
	Corporate Obligations
	Highly Rated (AAA/AA)
	Investment Grade (A/BBB)		518,606.00		524,033.00
	NR/High Yield (<BBB)
	G.I.C’s
	Bond Mutual Funds
	Other (list)
	Total Debt >1 year		$11,078,880		$11,141,955
	Stephen F. Austin State University
	Summary of Investments
			August 31, 2005		August 31, 2005
			Book Value		Market Value
	Short Term Investments:
	U.S. Government		9,113,492		9,108,300
	Bond Proceeds US Government		20,351,802		20,323,939
	Bond Proceeds U.S. Agency		7,588,418		7,585,750
	C.D.’s/B.A.’s		7,073,116		7,095,121
	A1/P1 Commercial Paper
	Repurchase Agreements		4,782,584		4,782,584
	TexPool		75,604		75,604
	Other Money Market Funds & Pools		575,888		575,888
	Bond Proceeds Money Market		8,827,850		8,827,850
	Bank Deposits
	Cash Held at State Treasury		1,044,683		1,044,683
	ST Corp Bonds		86,211		86,346
	Total Short Term Debt		$59,519,648		$59,506,065
	TOTAL INVESTMENTS:		$75,249,665		$76,536,748