THE UNIVERSITY OF TEXAS SYSTEM

OVERVIEW OF U.T. BONDS AND NOTES OUTSTANDING

AS OF AUGUST 31, 1996

		Ratings
	Amount Outstanding	Moody's	Standard and Poor's	Fitch
PERMANENT UNIVERSITY FUND
Variable Rate Notes, Series A	$ 65,000,000	Aaa/VMIG1	AAA/A-1+
Fixed Rate Bonds
Series 1988	17,000,000	Aaa	AAA	AAA
Series 1991	50,250,000	Aaa	AAA	AAA
Series 1992A	194,245,000	Aaa	AAA	AAA
Series 1992B	18,020,000	Aaa	AAA	AAA
Series 1996	263,370,000	Aaa	AAA	AAA
Total	$ 607,885,000
REVENUE FINANCING SYSTEM
Commercial Paper Notes, Series A	72,982,000	P-1	A-1+
Fixed Rate Bonds
Series 1991A	108,130,000	Aa1	AA+	AA+
Series 1991B	59,795,000	Aa1	AA+	AA+
Series 1991C	2,370,000	Aa1	AA+	AA+
Series 1995A	74,455,000	Aa1	AA+	AA+
Series 1996A	72,600,000	Aa1	AA+	AA+
Series 1996B	232,135,000	Aa1	AA+	AA+
Total	$ 622,467,000
GENERAL TUITION REVENUE BONDS
Fixed Rate Bonds
Series 1986	4,920,000	Aa1	AA+	AA+
Series 1992	33,515,000	Aa1	AA+	AA+
CONSTITUTIONAL APPROPRIATION BONDS
Series 1995	23,670,000		AA	AA+
TOTAL BONDS & NOTES OUTSTANDING	$ 1,292,457,000