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Moody's Investors Service <br /> 99 Church Street <br /> New York, New York 10007 <br /> March 4, 2002 <br /> Mr.Roger Larson <br /> Finance Director <br /> City of St. Anthony <br /> 3301 Silver Lake Road <br /> Saint Anthony,MN 55418 <br /> Dear Mr. Larson: <br /> We wish to inform you that on March 4 2002,Moody's Rating Committee reviewed and <br /> assigned an Al rating on the City of St. Anthony's General Obligation Improvement Bonds, <br /> Series 2002A. <br /> In order for us to maintain the currency of our ratings,we request that you provide ongoing <br /> disclosure, including annual financial and statistical information. <br /> Moody's will monitor this rating and reserves the right, at its sole discretion,to revise or <br /> withdraw this rating at any time in the future. <br /> The rating, as well as any revisions or withdrawals thereof, will be publicly disseminated by <br /> Moody's through normal print and electronic media and in response to verbal requests to <br /> Moody's rating desk. <br /> Should you have any questions regarding the above,please do not hesitate to contact me or the <br /> analyst assigned to this transaction, Yasmine Mandavi at(212)553-42713. <br /> Sincerely, <br /> James Mint <br /> Assista ice President <br /> cc: Ms. Emily K. Stolp <br /> Bond Services Analyst <br /> Springsted, Inc. <br /> 85 East Seventh Place East, Suite 100 <br /> Saint Paul,MN 55101 <br />