Fixed Rate Debt (48.7%)

• Series 2011 California Educational Facilities Financing Authority Bonds
  
• Series 2002 California Educational Facilities Financing Authority Bonds
  
• Series 2001 County of San Diego Certificates of Participation
  
• Series 1999 California Educational Facilities Financing Authority Bonds

Variable Rate Debt (51.3%)

• Series 2005 California Statewide Communities Development Authority Bonds
  

The university's Variable Rate Debt is backed by a five-year letter of credit
facility expiring on November 1, 2015. In addition, the university has entered
into an interest rate swap agreement to mitigate interest rate risk on its
Variable Rate Debt.