CDOs/CLOs

Year to date as of 02/16 Term (days) 02/10 02/13 02/14 02/15 02/16 1-week

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Citigroup 1,625.3 1 34.6 3 JP Morgan 1,214.0 2 25.8 2 Wachovia Corp 803.6 3 17.1 2 Royal Bank of Scotland Group 646.5 4 13.8 1 Goldman Sachs & Co 411.2 5 8.8 1 Industry Total 4,700.6 - 100.0 4 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 Morgan Stanley 1,979.5 1 30.1 8 Banc of America Securities LLC 1,153.4 2 17.5 3 Merrill Lynch & Co Inc 991.5 3 15.1 3 Citigroup 820.5 4 12.5 1 Credit Suisse 723.4 5 11.0 1 Deutsche Bank AG 500.0 6 7.6 1 Bear Stearns & Co Inc 327.2 7 5.0 1 JP Morgan 92.0 8 1.4 2 Industry Total 6,587.5 - 100.0 20 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 1,948.3 1 34.2 2 Citigroup 1,850.0 2 32.5 2 Deutsche Bank AG 900.0 3 15.8 1 JP Morgan 499.9 4 8.8 2 Morgan Stanley 250.0 5 4.4 1 Wachovia Corp 249.9 6 4.4 1 Industry Total 5,698.2 - 100.0 7 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 - - - - - Industry Total - - - - 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 Lehman Brothers 8,500.1 1 15.0 15 Credit Suisse 7,667.8 2 13.5 12 Morgan Stanley 5,593.1 3 9.8 8 Bear Stearns & Co Inc 5,392.7 4 9.5 9 Deutsche Bank AG 4,120.8 5 7.3 7 Citigroup 3,753.6 6 6.6 8 Barclays Capital 3,353.5 7 5.9 6 UBS 2,350.0 8 4.1 7 Merrill Lynch & Co Inc 2,349.1 9 4.1 3 Goldman Sachs & Co 2,325.7 10 4.1 2 Industry Total 56,843.8 - 100.0 86 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 Citigroup 3,788.8 1 63.7 3 Banc of America Securities LLC 881.7 2 14.8 2 Deutsche Bank AG 638.7 3 10.7 1 Credit Suisse 638.7 3 10.7 1 Industry Total 5,947.8 - 100.0 5 Source: Thomson Financial

auto ABS 11% credit card ABS 10% equipment ABS 1% real estate ABS 75% student loan ABS 4%

PHOENIX - As an increasing number of investors are expected to pour into the still-green ABX.HE index, liquidity once focused on a wider array of issuer deals could begin to dry up on the single-name ABS credit default swap front, at least in the near term, according to participants at this year's ABS West conference here last week.

PHOENIX - According to some asset-backed securities experts, issuance will be down about 10% in 2006, from record levels seen last year.