<TABLE>
<CAPTION>
NSAR ITEM 77O
VK Advantage Municipal Income Trust II
10f-3 Transactions
UNDERWRITING # UNDERWRITING PURCHASED FROM AMOUNT OF SHARES % OF UNDERWRITING DATE OF PURCHASE
PURCHASED
<S> <C> <C> <C> <C> <C>
1 North Carolina Smith Barney 1,500,000 1.095 11/03/99
Municipal Power
</TABLE>
Underwriting Participants:
Underwriters for #1
J.P. Morgan & Co.
Goldman, Sachs & Co.
Morgan Stanley & Co. Incorporated
JC Bradford & Co.
First Union Securities, Inc.
J. Lee Peeler
Legg Mason Wood Walker, Incorporated