UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number: 811-07510 ACM MUNICIPAL SECURITIES INCOME FUND, INC. (Exact name of registrant as specified in charter) 1345 Avenue of the Americas, New York, New York 10105 (Address of principal executive offices) (Zip code) Mark R. Manley AllianceBernstein L.P. 1345 Avenue of the Americas New York, New York 10105 (Name and address of agent for service) Registrant's telephone number, including area code: (800) 221-5672 Date of fiscal year end: October 31, 2007 Date of reporting period: January 31, 2007 ITEM 1. SCHEDULE OF INVESTMENTS. 2 ACM Municipal Securities Income Fund Portfolio of Investments January 31, 2007 (unaudited) Principal Amount (000) U.S. $ Value -------------------------------------------------------------------------------- MUNICIPAL OBLIGATIONS - 169.4% Long-Term Municipal Bonds - 169.1% Alabama - 5.8% Jefferson Cnty Ltd Oblig Sch Warrants Ser 04A 5.25%, 1/01/18 - 1/01/23 $1,825 $ 1,943,095 Jefferson Cnty Swr Rev (Capital Improvement Warrants) FGIC Ser 02 5.00%, 2/01/41 1,535 1,621,589 Jefferson Cnty Wtr & Swr Rev FGIC Ser 02B 5.00%, 2/01/41 2,465 2,610,287 Montgomery Spl Care Facs Fin Auth (Baptist Health) Ser 04C 5.25%, 11/15/29 1,000 1,085,570 ----------- 7,260,541 ----------- Alaska - 8.5% Alaska Intl Arpt Rev MBIA Ser 03B 5.00%, 10/01/26 1,000 1,044,210 Alaska Muni Bond Bank Auth MBIA Ser 03E 5.25%, 12/01/26 3,000 3,210,690 MBIA Ser 04G 5.00%, 2/15/22 1,585 1,667,372 Anchorage Waste Wtr Rev MBIA Ser 04 5.125%, 5/01/29 2,300 2,432,940 Four Dam Pool Alaska Ser 04 5.25%, 7/01/25 2,195 2,294,807 ----------- 10,650,019 ----------- Arizona - 2.3% Arizona Cap Facs Fin Corp Student Hsg Rev (Arizona St Univ Proj) Ser 00 6.25%, 9/01/32 1,550 1,605,149 Phoenix Civic Impt Corp Waste Wtr Sys Rev MBIA Ser 04 5.00%, 7/01/23 1,250 1,322,000 ----------- 2,927,149 ----------- 3 California - 14.2% Burbank Redev Agy FGIC Ser 03 5.625%, 12/01/28 2,700 2,991,816 California GO 5.00%, 2/01/32 2,450 2,539,180 Ser 04 5.00%, 2/01/33 1,100 1,139,413 California State Dept of Wtr Res Pwr Sup Rev (Prerefunded) Ser 02A 5.375%, 5/01/22 2,000 2,177,600 Golden St Tobacco Securitization Corp. RADIAN Ser 03 5.50%, 6/01/43 2,250 2,456,437 XLCA Ser 03B 5.50%, 6/01/33 3,000 3,275,250 Pomona COP AMBAC Ser 03 5.50%, 6/01/34 3,000 3,303,720 ----------- 17,883,416 ----------- Colorado - 4.4% Colorado Hlth Facs Auth (Evangelical Lutheran) 5.25%, 6/01/19 700 745,605 Colorado Hlth Facs Auth (Parkview Med Ctr) Ser 04 5.00%, 9/01/25 760 776,613 Colorado Toll Rev (Hwy E-470) Ser 00 Zero Coupon, 9/01/35 10,000 1,318,500 Northwest Metro Dist No. 3 GO 6.125%, 12/01/25 500 527,475 Park Creek Metro Dist Rev Ltd (Ref-Sr-Ltd Tax Ppty Tax) Ser 05 5.25%, 12/01/25 1,160 1,205,658 Todd Creek Farms Metro Dist No 1 6.125%, 12/01/22 580 590,945 Todd Creek Farms Metro Dist No 1 Wtr Rev (Ref & Impt) Ser 04 6.125%, 12/01/19 400 419,560 ----------- 5,584,356 ----------- Florida - 17.6% Florida Hsg Fin Corp Rev MFHR (Westlake Apts) AMT FSA Ser 02-D1 5.40%, 3/01/42 (a) 8,780 8,994,495 Lee Cnty Hlth Facs Auth Rev 4 (Shell Point) Ser 99A 5.50%, 11/15/29 3,670 3,761,200 Miami Beach Hlth Facs Auth Hosp Rev (Mount Sinai Med Ctr) Ser 04 6.75%, 11/15/24 (b) 2,000 2,259,340 Miami-Dade Cnty Spl Oblig MBIA Ser 04B 5.00%, 4/01/24 4,000 4,208,400 Orange Cnty Hospital Rev (Orlando Regional) Ser 02 5.75%, 12/01/32 1,400 1,539,776 UCF Assn Inc. FGIC Ser 04A 5.125%, 10/01/24 1,325 1,404,460 ----------- 22,167,671 ----------- Hawaii - 2.1% Hawaii State Dept of Budget & Fin Spl Purp Rev (Elec Co & Subsidiary Prog) XLCA Ser 03B 5.00%, 12/01/22 2,500 2,584,050 ----------- Illinois - 10.9% Chicago Arpt Rev (O'Hare Int'l Arpt) XLCA Ser 03B-1 5.25%, 1/01/34 3,100 3,285,628 Chicago GO FSA Ser 04A 5.00%, 1/01/25 2,165 2,267,816 Chicago Hsg Agy SFMR (Mortgage Rev) AMT GNMA/ FNMA Ser 02B 6.00%, 10/01/33 570 586,946 Chicago Park Dist GO (Ltd Tax) AMBAC Ser 04A 5.00%, 1/01/25 2,585 2,732,216 Cook Cnty Sch Dist FSA Ser 04 5.00%, 12/01/20 (c) 1,000 1,015,630 Illinois Fin Auth (Loyola Univ Chicago) XLCA Ser 04A 5.00%, 7/01/24 1,495 1,567,478 Illinois Fin Auth Rev (Illinois Inst of Technology) Ser 06A 5.00%, 4/01/31 365 375,786 Met Pier & Expo Auth (McCormick Place) 5 MBIA Ser 02A 5.25%, 6/15/42 1,750 1,848,542 ----------- 13,680,042 ----------- Indiana - 2.5% Hendricks Cnty Bldg Facs Corp. Ser 04 5.50%, 7/15/21 1,045 1,140,659 Indiana Bd Bk Rev FSA Ser 04B 5.00%, 2/01/21 1,100 1,158,256 Indiana St Dev Fin Auth Rev (Exempt Facs Inland Steel) Ser 97 5.75%, 10/01/11 865 881,141 ----------- 3,180,056 ----------- Louisiana - 2.4% Ernest N Morial-New Orleans (Exhibit Hall Auth Spl Tax) AMBAC Ser A 5.25%, 7/15/16 - 7/15/17 1,185 1,268,349 New Orleans GO MBIA 5.25%, 12/01/20 1,000 1,076,680 New Orleans Ltd. Tax MBIA 5.00%, 3/01/18 660 698,128 ----------- 3,043,157 ----------- Massachusetts - 10.2% Massachusetts GO Ser 02C 5.25%, 11/01/30 1,690 1,808,892 Massachusetts GO Prerefunded Ser 02C 5.25%, 11/01/30 3,310 3,542,858 Massachusetts Hlth & Ed Fac Hosp Rev (New England Med Ctr) MBIA Ser 94 7.375%, 7/01/18 (d) 5,000 5,014,000 Massachusetts Hsg Fin Agy (Rental Rev) AMBAC Ser 95E 6.00%, 7/01/41 1,740 1,840,868 Massachusetts Hsg Fin Agy MFHR (Rental Rev) AMT MBIA Ser 00H 6.65%, 7/01/41 540 574,290 ----------- 12,780,908 ----------- Michigan - 5.3% Kent Hosp Fin Auth 6 (Metropolitan Hospital Proj) Ser 05A 5.75%, 7/01/25 310 333,486 Michigan Hosp Fin Auth (Trinity Health) Ser 00A 6.00%, 12/01/27 3,000 3,255,180 Saginaw Hosp Fin Auth (Covenant Med Ctr) Ser 00F 6.50%, 7/01/30 2,775 3,028,135 ----------- 6,616,801 ----------- Minnesota - 1.4% Shakopee Health Care Facs (St Francis Regl Med Center) Ser 04 5.10%, 9/01/25 1,200 1,246,512 St. Paul Hsg & Redev Auth Hosp Rev (Healtheast Proj) Ser 05 6.00%, 11/15/25 500 548,490 ----------- 1,795,002 ----------- Mississippi - 4.1% Adams Cnty Poll Ctl Rev (International Paper Co) AMT Ser 99 6.25%, 9/01/23 1,000 1,059,860 Gulfport Hosp Fac Rev (Mem Hosp at Gulfport Proj) Ser 01A 5.75%, 7/01/31 4,000 4,131,440 ----------- 5,191,300 ----------- Nevada - 1.7% Carson City Hosp Rev (Carson-Tahoe Hosp Proj) RADIAN Ser 03A 5.00%, 9/01/23 2,100 2,150,694 ----------- New Hampshire - 0.7% New Hampshire Health & Ed Facs (Covenant Health) Ser 04 5.375%, 7/01/24 820 866,314 ----------- New Jersey - 5.2% Morris-Union Jointure Commn COP RADIAN Ser 04 5.00%, 5/01/24 2,000 2,082,040 New Jersey St Edl Facs Auth Rev AMBAC Ser 02A 5.25%, 9/01/21 4,200 4,509,666 ----------- 6,591,706 ----------- New Mexico - 4.9% Dona Ana Cnty Tax Rev 7 AMBAC Ser 03 5.25%, 5/01/25 500 530,775 University of New Mexico FSA Ser 04 5.00%, 1/01/24 - 7/01/24 5,430 5,661,698 --------- 6,192,473 --------- New York - 3.5% Erie Cnty IDA Sch Fac Rev (Buffalo Sch Dist Proj) FSA 5.75%, 5/01/24 810 902,040 New York City GO Ser 04I 5.00%, 8/01/21 3,300 3,461,634 --------- 4,363,674 --------- North Carolina - 3.9% Charlotte NC Arpt Rev MBIA Ser 04A 5.25%, 7/01/24 1,000 1,075,420 North Carolina Eastern Municipal Pwr Agy Pwr Sys Rev AMBAC Ser 05A 5.25%, 1/01/20 3,500 3,803,065 --------- 4,878,485 --------- North Dakota - 1.8% North Dakota Hsg Fin Agy SFMR (Mortgage Rev) AMT Ser 98E 5.25%, 1/01/30 1,760 1,776,509 Ward Cnty ND Health Care Fac (Trinity Health) 5.125%, 7/01/18 500 524,905 --------- 2,301,414 --------- Ohio - 5.7% Cuyahoga Cnty Hosp Facs Rev (University Hosp Hlth) Ser 00 7.50%, 1/01/30 2,400 2,664,744 Fairfield Cnty Hosp Rev (Fairfield Med Ctr Proj) RADIAN Ser 03 5.00%, 6/15/23 1,255 1,286,927 Ohio Hsg Fin Agy MFHR (Mortgage Rev) AMT GNMA Ser 97 6.15%, 3/01/29 2,610 2,665,645 Port Auth of Columbiana Cnty SWR (Apex Environmental LLC) AMT Ser 04A 8 7.125%, 8/01/25 500 506,655 --------- 7,123,971 --------- Oregon - 1.2% Forest Grove Rev (Ref & Campus Impt Pacific Proj A) RADIAN Ser 05A 5.00%, 5/01/28 1,420 1,474,272 --------- Pennsylvania - 4.4% Pennsylvania Eco Dev Auth (30th St Station ) AMT ACA Ser 02 5.875%, 6/01/33 2,050 2,213,283 Philadelphia Gas Wks Rev ASSURED GTY Ser 04A-1 5.25%, 9/01/19 - 8/01/21 3,045 3,262,707 --------- 5,475,990 --------- Puerto Rico - 1.8% Puerto Rico Comwlth GO (Pub Impt) 5.25%, 7/01/23 575 621,029 Ser 01A 5.50%, 7/01/19 500 557,710 Ser 03A 5.25%, 7/01/23 500 528,910 Puerto Rico Comwlth Govt Dev Bank (Sr Notes) Ser 06B 5.00%, 12/01/15 500 530,720 --------- 2,238,369 --------- Rhode Island - 2.3% Rhode Island Hlth & Ed Bldg Corp Rev (Times2 Academy) Ser 04 5.00%, 12/15/24 1,745 1,790,510 Rhode Island Hlth & Edl Bldg Corp Rev (Univ of Rhode Island) AMBAC Ser 04A 5.50%, 9/15/24 1,000 1,099,610 --------- 2,890,120 --------- South Carolina - 4.2% Charleston Cnty Sch Dist 5.25%, 12/01/30 2,000 2,127,580 Dorchester Cnty Sch Dist No 2 ASSURED GTY 5.00%, 12/01/29 800 838,552 Newberry Investing In Childrens Ed (Newberry Cnty Sch Dist Proj) ASSURED GTY Ser 05 5.00%, 12/01/27 1,560 1,626,565 Ser 05 5.00%, 12/01/30 165 168,292 Scago Edl Facs Corp For Sch 9 RADIAN 5.00%, 12/01/21 500 521,660 ---------- 5,282,649 ---------- Tennessee - 8.9% Johnson City Hlth & Ed Facs Hosp Rev (First Mtg - MTN Sts Hlth) Ser 06A 5.50%, 7/01/31 640 682,541 Sullivan Cnty Tenn Health Edl (Wellmont Health Sys Proj) 5.25%, 9/01/26 725 761,707 Tenn Ed Loan Rev (Educational Funding of South) AMT Ser 97A 6.20%, 12/01/21 9,600 9,682,944 ---------- 11,127,192 ---------- Texas - 19.8% Bexar County Health Facilities Development Corp 5.00%, 7/01/27 155 158,658 Dallas Arpt Rev (Fort Worth Intl Arpt) AMT MBIA Ser 03A 5.25%, 11/01/25 2,000 2,098,080 Frisco TX GO FGIC 5.00%, 2/15/23 3,220 3,411,848 Garza Cnty Pub Fac Corp 5.50%, 10/01/19 255 266,289 Harris Cnty (Flood Ctl) Ser 03B 5.00%, 10/01/23 1,400 1,465,198 Harris Cnty Toll Road Rev FSA Ser 02 5.125%, 8/15/32 5,000 5,231,000 Hidalgo Cnty Health Svcs (Mission Hosp Inc Proj) Ser 05 5.00%, 8/15/14 - 8/15/19 325 331,080 Lewisville Combination Contract (Spl Assmt Cap Impt Dist No 2) ACA Ser 05 6.00%, 10/01/25 550 605,253 Lower Colorado River Auth AMBAC Ser 03 5.25%, 5/15/25 1,800 1,904,256 MBIA 5.00%, 5/15/31 1,500 1,560,723 Matagorda Cnty Rev (Centerpoint Energy Houston Electric LLC) Ser 04 5.60%, 3/01/27 1,000 1,054,590 10 Mc Allen Wtr & Swr Rev FSA 5.25%, 2/01/21 - 2/01/22 3,215 3,459,026 Richardson Hosp Auth Rev (Richardson Regional Med Ctr) FSA Ser 04 5.875%, 12/01/24 1,155 1,248,024 Ser 04 6.00%, 12/01/19 915 996,471 Seguin Hgr Ed Auth (Texas Lutheran Univ Project) Ser 04 5.25%, 9/01/28 1,000 1,023,790 ----------- 24,814,286 ----------- Utah - 2.1% Davis Cnty Sales Tax Rev AMBAC Ser 03B 5.25%, 10/01/23 1,005 1,070,858 Salt Lake City Wtr Rev AMBAC Ser 04 5.00%, 7/01/23 1,500 1,574,670 ----------- 2,645,528 ----------- Washington - 1.2% Seattle Hsg Auth Rev MFHR (Wisteria Ct Proj) GNMA Ser 03 5.20%, 10/20/28 1,475 1,541,036 ----------- Wisconsin - 4.1% Wisconsin GO Ser 03 5.00%, 11/01/26 3,700 3,808,447 Wisconsin Hlth & Ed Fac Auth Rev (Bell Tower Residence Proj) Ser 05 5.00%, 7/01/20 1,300 1,349,634 ----------- 5,158,081 ----------- Total Long-Term Municipal Bonds (cost $204,923,380) 212,460,722 ----------- Short-Term Municipal Notes - 0.3% Florida - 0.3% Jacksonville Hlth Facs Auth Hosp Rev (Baptist Med Ctr Proj) 3.68%, 8/15/21 (e) 11 (cost $400,000) 400 400,000 ------------ Total Investments - 169.4% (cost $205,323,380) 212,860,722 Other assets less liabilities - 2.2% 2,761,228 Preferred Stock at redemption value - (71.6)% (90,000,000) ------------ Net Assets Applicable to Common Shareholders - 100.0% (f) $125,621,950 ------------ INTEREST RATE SWAP TRANSACTIONS Rate Type ---------------------------- Notional Payments Payments Unrealized Swap Amount Termination made by received by Appreciation/ Counterparty (000) Date the Portfolio the Portfolio (Depreciation) -------------------------------------------------------------------------------------- Citibank $2,700 11/10/26 3.884% BMA Municipal $31,111 Swap Index J.P. Morgan 7,500 11/10/11 BMA Municipal 3.482% (41,052) Swap Index (a) Position, or a portion thereof, has been segregated to collateralize interest rate swaps. (b) Private Placement (c) Indicates a security that has a zero coupon that remains in effect until a predetermined date at which time the stated coupon rate becomes effective until final maturity. (d) Inverse Floater Security - Security with variable or floating interest rate that moves in the opposite direction of short-term interest rates. (e) Variable rate coupon, rate shown as of January 31, 2007. (f) Portfolio percentages are calculated based on net assets applicable to common shareholders. Glossary: ACA - American Capital Access Financial Guaranty Corporation AMBAC - American Bond Assurance Corporation AMT - Alternative Minimum Tax (subject to) ASSURED GTY - Assured Guaranty BMA - Bond Market Association COP - Certificate of Participation FGIC - Financial Guaranty Insurance Company FNMA - Federal National Mortgage Association FSA - Financial Security Assurance Inc. GNMA - Government National Mortgage Association GO - General Obligation IDA - Industrial Development Authority/Agency MBIA - Municipal Bond Investors Assurance MFHR - Multi-Family Housing Revenue MTN - Medium Term Note RADIAN - Radian Group, Inc. SFMR - Single Family Mortgage Revenue SWR - Solid Waste Revenue XLCA - XL Capital Assurance Inc. 12 ITEM 2. CONTROLS AND PROCEDURES. (a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document. (b) There were no changes in the registrant's internal controls over financial reporting that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. The following exhibits are attached to this Form N-Q: EXHIBIT NO. DESCRIPTION OF EXHIBIT ----------- ---------------------- 3 (a) (1) Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 3 (a) (2) Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 13 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant): ACM Municipal Securities Income Fund, Inc. By: /s/ Marc O. Mayer ------------------------- Marc O. Mayer President Date: March 26, 2007 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Marc O. Mayer ------------------------- Marc O. Mayer President Date: March 26, 2007 By: /s/ Joseph J. Mantineo ------------------------- Joseph J. Mantineo Treasurer and Chief Financial Officer Date: March 26, 2007 14 Exhibit 3 (a) (1) CERTIFICATIONS I, Marc O. Mayer, certify that: 1. I have reviewed this report on Form N-Q of ACM Municipal Securities Income Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 15 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ Marc O. Mayer ----------------------------- Marc O. Mayer President Date: March 26, 2007 16 Exhibit 3 (a) (2) CERTIFICATIONS I, Joseph J. Mantineo, certify that: 1. I have reviewed this report on Form N-Q of ACM Municipal Securities Income Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 17 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. /s/ Joseph J. Mantineo ----------------------------- Joseph J. Mantineo Treasurer and Chief Financial Officer Date: March 26, 2007 18