Commercial Mtge Asset Trust Series 1999-C2 Affirmed By Fitch.

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 10, 2001

Commercial Mortgage Asset Trust's commercial mortgage pass-through certificates, series 1999-C2, $111.9 million class A-1, $319.8 million class

A-2, $108.8 million class A-3, and interest-only classes X and CS- 1 are affirmed at `AAA' by Fitch. In addition, $38.8 million class B certificates are affirmed at `AA', $38.8 million class C at `A', $11.6 million class D at `A-`, $29.1 million class E at 'BBB', and $15.5 million class F at `BBB-`. Fitch does not rate the $15.5 million class G, $15.5 million class H, $7.8 million class J, $11.6 million class K, $7.8 million class L, $7.8 million class M, $5.8 million class N, and $15.5 million classes Q1 and Q2 certificates. The affirmations follow Fitch's annual review of the transaction, which closed in October 1999.

The certificates are collateralized by 80 fixed-rate mortgage loans, consisting primarily of office (35%), retail (30%), multifamily (12%), and industrial (11%) properties, with significant concentrations in California (20%), New York (10%), Pennsylvania (8%), and Illinois (8%). As of the August 2001 distribution date, the pool's aggregate principal balance has been reduced by approximately 1.8%, from $775.2 million at closing to $761.4 million. No loans are delinquent or specially serviced, and none have paid off since closing. No loans have realized losses.

BNY Asset Solutions LLC, the master servicer, received year-end 2000 financial statements for 72 loans (90% of the outstanding balance) that are required to provide financials. The 2000 weighted average debt service coverage ratio (DSCR) for these loans was 1.46 times (x) compared to 1.36x at closing. Eight credit tenant lease loans (10%) are not required to provide financials. In addition, Fitch reviewed the exception report and found three loans(3% by balance) with missing assignments.

Fitch will continue to monitor this transaction, as surveillance is ongoing.