TEXT-Fitch release on 25 U.S. CMBS deals

(The following statement was released by the rating agency)

May 30 - Fitch Ratings has placed 25 of its U.S. Commercial Mortgage-Backed Securities (CMBS) deals 'Under Analysis', indicating that Fitch will be issuing a rating action within 30 days.

SMARTView is Fitch's ongoing monthly surveillance process, with the 'Under Analysis' designation given to those deals which Fitch plans to further analyze over the next month.

Of the 487 Fitch rated U.S. CMBS transactions, 461 U.S. CMBS deals were designated with a SMARTView date of May 30, 2008, indicating that no in depth review is necessary.

As Fitch receives monthly information on structured finance transactions from trustees and servicers, Fitch analysts run the data through various internal algorithms that identify classes of a transaction as possible candidates for upgrade or downgrade.

Fitch's analysts scrutinize the output to decide which deals need an in depth review, which are classified as 'under analysis', and those deals with no significant changes, which can be given a SMARTView date.

Seven of the 25 transactions were designated as 'Under Analysis' to provide updated commentary to the market, as Fitch aims to perform an in-depth review on each transaction annually, and were not identified as possible upgrade or downgrade candidates.

One transaction remains under analysis as Fitch expects to receive further information to complete our analysis.

To review a list of deals 'Under Analysis', use the following link: www.fitchratings.com/smartview SMARTView is available on the Fitch Ratings web site at 'www.fitchratings.com', along with the report titled 'SMARTView, Fitch U.S. Structured Finance Monthly Public Reviews'.