Fitch 2009 U.S. Real Estate Summit - More Cracks in the Foundation; Tomorrow @ 10:30AM ET

NEW YORK--(Business Wire)--
The economic recession has led to increased ratings pressure across nearly all
U.S. residential real estate markets, with intensified strain likely for certain
sectors in the coming months, according to Fitch Ratings.

Macroeconomic conditions will continue to challenge the CMBS and multifamily
REIT sectors for the remainder of 2009. Additionally, plans by the U.S.
Government to help stem rising foreclosures through loan modifications and
possibly bankruptcy cramdowns are likely to yield disparate results for the
Homebuilding and RMBS sectors.

Fitch analysts will discuss the key current and emerging trends facing the real
estate markets as part of Fitch's annual U.S. Housing and Multifamily Real
Estate Summit. The webcast will take place tomorrow morning at 10:30 a.m. ET.

Fitch's agenda is as follows:

--10:30 - 10:40 - CMBS (Adam Fox);

--10:40 - 10:50 - Multifamily REITs (Steven Marks);

--10:50 - 11:00 - RMBS (Roelof Slump);

--11:00 - 11:10 - Homebuilding (Bob Curran);

--11:10 - 11:20 - Fannie Mae/Freddie Mac update (Eileen Fahey);

--Q&A.

Prepared remarks are expected to last approximately 45-to-50 minutes, with a Q&A
session immediately to follow. If you have specific questions you would like
addressed prior to Fitch's webcast, please forward them to
questions@fitchratings.com, as we plan to field some of those questions during
the webcast.

Dial-in Information

--Date: Tuesday June 2, 2009

--Time: 11:00 a.m. ET

--U.S./Canada: 866-682-6100

--International: 201-499-0416

Webcast Information

--URL: http://www.visualwebcaster.com/event.asp?id=57456

A replay of the webcast, along with the slide presentation, will be available
shortly after its conclusion on the Fitch Ratings web site at
www.fitchratings.com under the following headers:

About Fitch Ratings then Teleconferences & Online Events

For additional recently published research across all sectors, visit
www.fitchratings.com under the following headers:

CMBS (Structured Finance then CMBS then Special Reports):

--'U.S. CMBS 2008 Default Study: Beginning of Decline in CMBS Performance' (May
13, 2009);

--'Rising Tide of Special Servicing: $24 Billion and Counting' (April 29, 2009).

REITs (Financial Institutions then REITs then Special Reports):

--'U.S. Equity REIT Liquidity Update: The Clock Is Ticking' (April 2, 2009);

--'REITs and Cost of Debt Capital: Slow Motion Erosion' (Dec. 12, 2008)

RMBS (Structured Finance then RMBS then Special Reports):

--'2008 Global RMBS Bond Transition and Default Study and 2009 Performance
Outlook' (April 16, 2009);

--'U.S. Prime RMBS: Performance Update' (March 23, 2009).

Homebuilding (Corporate Finance then Corporates then Special Reports):

--'U.S. Homebuilding/Construction: The Chalk Line - Quarterly Update: Spring
2009' (April 14, 2009).

Fannie Mae/ Freddie Mac (Financial Institutions then Finance & Leasing Companies
then Special Reports):

--'US Government Places GSEs at Heart of Mortgage Plans (Fannie Mae and Freddie
Mac)' (Feb. 23, 2009).

Fitch's rating definitions and the terms of use of such ratings are available on
the agency's public site, www.fitchratings.com. Published ratings, criteria and
methodologies are available from this site, at all times. Fitch's code of
conduct, confidentiality, conflicts of interest, affiliate firewall, compliance
and other relevant policies and procedures are also available from the 'Code of
Conduct' section of this site.

Fitch Ratings, New York
Media Relations:
Sandro Scenga, 212-908-0278
Email: sandro.scenga@fitchratings.com

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