Lamar University
	Summary of Investments
			November 30, 2004		November 30, 2004
			Book Value		Market Value
	Equity Securities:
	U.S. Common Stock
	Equity Mutual Funds		3,652,234.84		6,338,627.21
	Other Equity Securities (list)
	Total Equities		3,652,234.84		6,338,627.21
	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		7,528,744.78		7,480,517.35
	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)		1,843,381.13		1,826,799.93
	NR/High Yield (<BBB)
	G.I.C’s
	Bond Mutual Funds
	Other (list)
	Total Debt >1 year		9,372,125.91		9,307,317.28
	Short Term Investments:
	U.S. Government		9,970,987.10		9,945,850.00
	U.S. Government Agency
	C.D.’s/B.A.’s
	A1/P1 Commercial Paper
	Repurchase Agreements
	TexPool		22,960,480.25		22,954,740.13
	Other Money Market Funds & Pools
	Bank Deposits		3,442,477.34		3,442,477.34
	Cash Held at State Treasury		1,712,555.73		1,712,555.73
	Other (list)
	Total Short Term Investments		38,086,500.42		38,055,623.20
	TOTAL INVESTMENTS:		51,111,089.17		53,701,795.69