Lamar University
	Summary of Investments
			May 31, 2005		May 31, 2005
			Book Value		Market Value
	Equity Securities:
	U.S. Common Stock
	Equity Mutual Funds		3,652,234.84		6,462,021.66
	Other Equity Securities (list)
	Total Equities		3,652,234.84		6,462,021.66
	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		7,552,173.66		7,466,074.35
	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)		1,837,099.52		1,808,505.93
	NR/High Yield (<BBB)
	G.I.C’s
	Bond Mutual Funds
	Other (list)
	Total Debt >1 year		9,389,273.18		9,274,580.28
	Short Term Investments:
	U.S. Government		11,041,046.08		11,029,173.89
	U.S. Government Agency
	C.D.’s/B.A.’s
	A1/P1 Commercial Paper
	Repurchase Agreements
	TexPool		42,371,192.59		42,371,192.59
	Other Money Market Funds & Pools
	Bank Deposits		98,548.75		98,548.75
	Cash Held at State Treasury		62,305.34		62,305.34
	Other (list)
	Total Short Term Investments		53,573,092.76		53,561,220.57
	TOTAL INVESTMENTS:		66,614,828.78		69,298,050.51