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<CAPTION>
NSAR ITEM 77O
VK Advantage Municipal Income Trust
10f-3 Transactions
UNDERWRITING # UNDERWRITING PURCHASED FROM AMOUNT OF SHARES % OF UNDERWRITING DATE OF PURCHASE
PURCHASED
<S> <C> <C> <C> <C> <C>
1 Memphis Shelby County Goldman Sach 1,000,000 0.408 11/04/99
2 NY Dorm Authority - Mental Health JP Morgan 2,545,000 1.79 10/06/00
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Underwriting Participants:
Underwriters for #1 Underwriters for #2
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Morgan Keegan Bear Stearns & Co. Inc.
Morgan Stanley & Co. Incorporated First Albany Corporation
Chapman Company Morgan Stanley & Co., Incorporated
Duncan Williams Raymond James and Associates, Inc.
First Tennessee Bank Salomon Smith Barney
MR Beal & Company Fleet Securities, Inc.
NationsBanc Capital Markets Ramirez & Co. Inc.
William E. Simon & Sons Municipal
Securities, Inc.