CDOs/CLOs

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.

Last week, the New York Attorney General's office reminded Sallie Mae and Student Loan Express that they had no right to involve universities in underhanded tactics to generate business. The University of Pennsylvania also acknowledged that it received fees from Citibank to refer student loan borrowers to the institution.

ECC Capital Corp. said last week that one of its units is suing a subsidiary of Bear Stearns, seeking more than $20 million for an alleged breach of contract over the sale of a residential mortgage loan portfolio.