CDOs/CLOs

auto ABS 7% credit card ABS 10% enterprise finance 0% equipment ABS 1% real estate ABS 71% student loan ABS 10% trade receivables 0% utilities ABS 0%

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues JP Morgan Securities Inc. 7,539.2 1 47.6 9 Banc of America Securities LLC 3,350.7 2 21.1 3 Wachovia Securities 3,200.5 3 20.2 3 Barclays Capital 2,960.3 4 18.7 3 ABN AMRO Incorporated 2,322.9 5 14.7 2 HSBC Securities, Inc. 2,058.0 6 13.0 2 Morgan Stanley & Co. Incorporated 1,870.3 7 11.8 2 Deutsche Bank Securities, Inc. 1,830.0 8 11.5 2 RBS Greenwich Capital 1,684.6 9 10.6 2 Lehman Brothers, Inc. 1,500.0 10 9.5 1 Industry Total 15,844.3 - 100.0 18 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Merrill Lynch 21,255.8 1 21.5 25 Citigroup 14,057.9 2 14.2 21 Wachovia Corp 7,322.7 3 7.4 13 UBS 6,843.0 4 6.9 10 JP Morgan 6,466.1 5 6.5 14 Barclays Capital 6,424.0 6 6.5 6 Deutsche Bank AG 6,265.6 7 6.3 11 Morgan Stanley 5,022.6 8 5.1 23 Banc of America Securities LLC 4,926.4 9 5.0 5 Credit Suisse 4,065.5 10 4.1 5 Industry Total 98,898.4 - 100.0 161 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Banc of America Securities LLC 6,765.0 1 27.4 12 JP Morgan Securities 5,920.0 2 24.0 9 Citigroup Global Markets, Inc. 3,700.0 3 15.0 5 Morgan Stanley & Co. Incorporated 3,068.4 4 12.4 3 Credit Suisse Securities (USA) LLC 2,842.6 5 11.5 4 Deutsche Bank Securities, Inc. 2,300.0 6 9.3 6 ABN AMRO Incorporated 2,242.6 7 9.1 2 Wachovia Securities 1,275.0 8 5.2 3 Lehman Brothers Inc. 1,000.0 9 4.1 2 RBS Greenwich Capital 775.0 10 3.1 4 Industry Total 24,671.1 - 100.0 37 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Countrywide Securities Corporation 15,736.9 1 15.31 16 RBS Greenwich Capital 12,664.6 2 12.3 14 Merrill Lynch, Pierce, Fenner & Smith Inc. 11,052.1 3 10.8 11 Citigroup Global Markets, Inc. 10,988.3 4 10.7 11 Morgan Stanley & Co. Incorporated 10,313.3 5 10.0 11 Banc of America Securities LLC 9,955.2 6 9.7 13 Lehman Brothers Inc. 9,012.7 7 8.8 10 Bear Stearns & Co. Inc. 7,198.6 8 7.0 14 JP Morgan Securities 6,419.4 9 6.2 6 Deutsche Bank Securities, Inc. 5,651.1 10 5.5 7 Industry Total 102,788.6 - 100.0 124 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Banc of America Securities LLC 11,558.4 1 49.2 4 JP Morgan Securities 9,557.4 2 40.7 3 Barclays Capital 8,836.0 3 37.6 2 Credit Suisse Securities (USA) LLC 6,270.3 4 26.7 2 Morgan Stanley & Co. Incorporated 6,270.3 5 26.7 2 Goldman Sachs & Co 5,842.0 6 24.9 2 Deutsche Bank Securities, Inc. 5,291.7 7 22.5 2 Wachovia Securities 4,806.0 8 20.4 1 Lehman Brothers Inc. 4,142.0 9 17.6 1 RBS Greenwich Capital 3,051.4 10 13.0 1 Industry Total 23,505.1 - 100.0 9 Source: Thomson Financial

auto ABS 8% credit card ABS 10% enterprise finance 0% equipment ABS 1% real estate ABS 70% student loan ABS 11% trade receivables 0% utilities ABS 0%

A prominent figure in student loan securitization, Paul B. Sheldon, left Citigroup Global Markets just over a week ago, sources confirmed last week. His departure came several days before the investment bank announced a massive cost-cutting campaign.

Some of the largest U.S. CDO managers in 2006 counted ABS CDOs as nearly their entire book of business, according to Standard & Poor's.

Mizuho Securities USA has several ABS CDOs and CLOs in its pipeline, according to the head of U.S. structured credit, Alexander Rekeda.