EXHIBITB
TO SECURITIES LENDING AUTHORIZATION AGREEMENT ("Agreement")
PART2

NON-CASH COLLATERAL SCHEDULE

OPERS Non-Cash Collateral Account

Collateralization Levels

Initial Collateral levels for all Loans will not be less than one hundred two percent (102%) of the Market Value of the  Borrowed Securities, or not less than one hundred five percent (105%) if the Borrowed Securities and the Collateral are denominated in different currencies.  Marking to market is performed every business day subject to de minim is rules of change in value, and the Borrower is required to deliver additional Collateral when necessary so that the total Collateral held by Agent for all Loans to the Borrower of all Participating Lenders will at least equal the Market Value of all the Borrowed Securities of all Participating Lenders loaned to the Borrower.

Collateral Guidelines

Listed below are the non-cash Collateral guidelines specifying eligible Collateral.

Agent will make use of the market standard settlement methods for non-cash collateral, including the use of a tri-party custodian as approved by Agent's appropriate risk committee.  Settlement through a tri-party custodian may result in cash collateral being held on deposit at the tri-party custodian.

Capitalized terms used in this Exhibit Band  not defined shall have the meanings given to them in the Agreement.

I.      Eligible Instruments

Non-cash eligible instruments may consist of the following:

Obligations issued or guaranteed by the United States Government, its agencies and instrumentalities.

II.        Diversification

Obligations issued or guaranteed by the U.S. Government, or its agencies and instrumentalities, may be accepted without limit.

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Exhibit B to Securities Lending Agreement