CDOs/CLOs

Year to date as of 02/25 Term (days) 02/19 02/20 02/23 02/24 02/25 1-week

2004 2003 2002 ABS (Public and 144A) 60,166 44,772 40,095 ABS (Public and 144A excluding CDOs) 56,849 42,534 36,837 ABS (Public Only) 49,545 38,497 33,255 ABS (144A Only) 10,622 6,276 6,840 Non-Agency MBS 17,216 20,978 14,294 Agency MBS 11,552 142,647 56,248 CMBS 3,276 3,475 4,541 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 Deutsche Bank AG 2,647.1 1 32.7 2 Citigroup 2,477.4 2 30.6 2 Credit Suisse First Boston 1,100.0 3 13.6 3 Merrill Lynch & Co Inc 815.0 4 10.1 1 BANK ONE Corp 675.0 5 8.3 2 JP Morgan 375.0 6 4.6 1 Industry Total 8,089.4 - 100.0 9 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 UBS 1,022.0 1 30.8 1 BNP Paribas SA 919.5 2 27.7 1 Bear Stearns & Co Inc 658.9 3 19.9 2 Merrill Lynch & Co Inc 602.0 4 18.2 1 Citigroup 115.0 5 3.5 1 Industry Total 3,317.4 - 100.0 6 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 1,599.6 1 53.3 2 Merrill Lynch & Co Inc 752.2 2 25.1 2 BANK ONE Corp 300.0 3 10.0 1 Lehman Brothers 250.0 4 8.3 1 Wachovia Corp 100.0 5 3.3 1 Industry Total 3,001.8 - 100.0 5 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 Royal Bank of Scotland Group 6,605.4 1 16.1 7 Morgan Stanley 5,065.9 2 12.4 8 Lehman Brothers 4,389.7 3 10.7 6 Credit Suisse First Boston 3,546.2 4 8.7 7 Citigroup 2,855.1 5 7.0 5 Merrill Lynch & Co Inc 2,834.8 6 6.9 4 JP Morgan 2,826.3 7 6.9 3 Banc of America Securities LLC 2,650.4 8 6.5 5 Deutsche Bank AG 2,610.4 9 6.4 7 Bear Stearns & Co Inc 2,368.5 10 5.8 3 Industry Total 40,942.6 - 100.0 55 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 1,012.6 1* 25.3 2 Lehman Brothers 1,012.6 1* 25.3 2 UBS 530.0 3 13.3 1 Deutsche Bank AG 489.9 4* 12.3 1 Credit Suisse First Boston 489.9 4* 12.3 1 RBC Capital Markets 462.0 6 11.6 1 Industry Total 3,996.9 - 100.0 5 Source: Thomson Financial

Year to date as of Feb 18 Coupon Type Market Average Life Buckets Asset Class Volume Pub/144A Fixed Rate Floating Rate Public 144A 0.0 to 0.9 1.0 to 2.9 3.0 to 5.9 6.0 to 7.9 8.0 to 11.0 Aircraft Leases Auto Loans/Recs 8,089 5,024 3,066 5,692 2,397 4,586 2,027 1,477 Cash Commercial Loans Corp Bond/Note Corporate Loans 1,337 20 1,317 1,337 1,022 226 89 Credit Card Rec 3,002 2,550 452 2,550 452 2,802 200 Equip Loans Equip. Leases Floorplan Recs Franchisee Loans Home Impr Loans Junk Bonds Leases Loans Mnfrd Housing Ct 200 200 200 200 Mutual Fund Fees Non-Jumbo Mtg Ln 8,092 3,443 4,648 8,086 6 3,555 725 3,812 Oil Receivables Preferred Sec 344 30 314 344 158 186 Prv Issued Sec 19 19 19 19 Rental Car Rec. 600 600 600 600 Rev Cred/Home Eq 32,850 17,828 14,956 29,987 2,863 26,755 3,505 2,279 291 20 Sm Business Loan Struc Fin Credit 1,636 717 920 1,636 222 411 1,004 Student Loans 3,997 378 3,156 2,849 1,148 3,017 980 Tax Liens Ticket Rec Timeshare Loans Tobacco Receives Trade Recs Unspecified/NA Note: Figures are preliminary and subject to change. Data includes U.S. deals and dollar Euro 144As.Source: Thomson Financial

Rev Cred/Home Eq 55% Non-Jumbo Mtg Ln 13% Auto Loans/Recs 13% Student Loans 7% Credit Card Rec 5% Other 7%