Lamar University
	Summary of Investments
			August 31, 2004		August 31, 2004
			Book Value		Market Value
	Equity Securities:
	U.S. Common Stock
	Equity Mutual Funds		3,652,234.84		5,804,937.89
	Other Equity Securities (list)
	Total Equities		3,652,234.84		5,804,937.89
	Other Investments:
	Real Estate
	Private Equity
	Annuities
	Collective Endowment Funds
	Commodities
	Collectibles
	Other - Mineral Interest		228.00		228.00
	Total Other Investments		228.00		228.00
	Debt Investments >1 year:
	U.S. Government
	U.S. Government Agency		7,536,359.87		7,508,593.75
	Mortgage Pass Throughs
	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)		1,846,746.93		1,832,433.00
	NR/High Yield (<BBB)
	G.I.C’s
	Bond Mutual Funds
	Other (list)
	Total Debt >1 year		9,383,106.80		9,341,026.75
	Short Term Investments:
	U.S. Government		7,913,262.77		7,915,625.00
	U.S. Government Agency
	C.D.’s/B.A.’s
	A1/P1 Commercial Paper
	Repurchase Agreements
	TexPool		25,366,207.20		25,360,626.63
	Other Money Market Funds & Pools
	Bank Deposits		1,433,785.37		1,433,785.37
	Cash Held at State Treasury		5,522,943.20		5,522,943.20
	Other (list)
	Total Short Term Debt		40,236,198.54		40,232,980.20
	TOTAL INVESTMENTS:		53,271,768.18		55,379,172.84