Office of the DC Chief Financial Officer, Attn: MSC-Procurement, 441 4th Street -- Judiciary Square, Room 440-South, Washington, DC 20001

R -- FINANCIAL ADVISORY SERVICES DUE 041399 POC R. Vlach 202-727-0380 The Office of the Chief Financial Officer (OCFO) of the District of Columbia is issuing a Request for Quotation for financial advisory services in connection with a possible restructuring of the District's $3.1 billion of outstanding general obligation debt. This debt is heavy front-loaded, inasmuch as 39% of the principal is scheduled to be repaid within five (5) years, and 72% within ten (10) years. The financial advisor will be expected to determine, and present in writing, the costs and benefits of a debt restructuring for the purpose of extending the debt to provide near-term budget relief. In doing so, the financial advisor will consider, at a minimum, the following: "best practice" benchmarks; impact on the District's credit ratings; capital financing capacity; asset-liability management; and impact on debt services. The financial advisor, as directed by the District, shall produce alternative financing scenarios that provide varying amounts of near-term budget relief. For each scenario, the financial advisor shall prepare debt services schedules and supporting schedules, as appropriate, using market interest rates and costs as of April 12th. Deliverables are due to the Office of the Chief Financial Officer by 3:00 p.m. EDT, Thursday, April 15, 1999. Response to this Request for Quotation must be received no later than 12 noon EDT, Tuesday, April 13, 1999. Responses shall be sent to the attention of R. Vlach at FAX no. 202-727-9599. Posted 04/12/99 (W-SN318462). (0102)

Loren Data Corp. http://www.ld.com (SYN# 0047 19990414\R-0003.SOL)