BSABS' $207.3MM A-B Certificates Series 2003-SD1 Rated by Fitch.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 4, 2003

Bear Stearns Asset Backed Securities (BSABS) Trust's asset-backed certificates, series 2003-SD1 are rated by Fitch Ratings as follows:

-- $186,599,000 class A (senior certificates), and classes R-I, and R-II (residual certificates) 'AAA';

-- $8,295,000 class M-1 'AA';

-- $7,258,000 class M-2 'A';

-- $5,185,000 class B 'BBB'.

The 'AAA' rating on the senior certificates reflects the 10% subordination provided by the 4% class M-1, 3.50% class M-2 and 2.50% class B. Additional credit enhancement will be provided by growing overcollateralization (OC) resulting from the use of accelerated principal payment amounts which are derived from interest on the mortgage loans. The OC target is 2%. The ratings on the certificates reflect the quality of the underlying collateral and Fitch's level of confidence in the integrity of the legal and financial structure of the transaction.

The ratings also reflect the quality of the underlying mortgage collateral, the capabilities of EMC Mortgage Corp., Wells Fargo Home Mortgage, Inc., and Washington Mutual Bank, FA as servicers (rated 'RSS1', 'RPS1', and 'RPS2', respectively, by Fitch), and Fitch's confidence in the integrity of the legal and financial structure of the transaction.

The mortgage pool has an aggregate principal balance of approximately $207,387,860 as of the cut-off date (Aug. 1, 2003) and a weighted average remaining term to maturity of 301 months. The weighted average original loan-to-value ratio (OLTV) for the mortgage loans is approximately 76.37%. The weighted average FICO credit score for the pool is 661. The states that represent the largest portion of mortgage loans are New Jersey (12.79%), California (11.54%) and New York (10.92%).

None of the mortgage loans are 'high cost' loans as defined under any local, state or federal laws. For additional information on Fitch's rating criteria regarding predatory lending legislation, please see the press release issued May 1, 2003 entitled, 'Fitch Revises Rating Criteria in Wake of Predatory Lending Legislation', available on the Fitch Ratings web site at 'www.fitchratings.com'.

Bear Stearns Asset Backed Securities, Inc. deposited the loans in the trust, which issued the certificates, representing undivided beneficial ownership in the trust. For federal income tax purposes, elections will be made to treat the trust as multiple real estate mortgage investment conduits (REMICs). JP Morgan Chase Bank will act as trustee.