Correction: Fitch Affirms 11 RMBS Classes from 2 Bear Stearns Asset Backed Securities Issues.

NEW YORK -- (This is an amended version of a press release issued earlier today and contains revised rating information on the series 2004-1 class B-1.)

Fitch Ratings has affirmed the ratings on the following Bear Stearns Asset Backed Securities Issues:

Series 2004-1

-- Class A at 'AAA';

-- Class M-1 at 'AA';

-- Class M-2 at 'A';

-- Class M-3 at 'BBB+';

-- Class B-1 at 'BBB-';

-- Class B-2 at 'BBB-'.

Series 2004-2

-- Class A at 'AAA';

-- Class M-1 at 'AA+';

-- Class M-2 at 'A';

-- Class M-3 at 'BBB';

-- Class B at 'BBB-'.

The affirmations reflect a stable relationship between credit enhancement (CE) and future loss expectations and affect approximately $271.77 million of outstanding certificates. Losses to date have been low, with a weighted average loss of approximately 61 basis points (bps). All of the classes' CE levels have increased to approximately 2 times (x) their original levels or higher.

The mortgage pool consists primarily of first and second liens on adjustable and fixed rate, one- to four-family, seasoned mortgage loans.

At the closing date for series 2004-1, the pool consisted of approximately 93.09% performing and 6.91% sub-performing mortgage loans, and had a weighted average seasoning of 42 months. Approximately 42.19% of the original collateral was made up of loans that remained from called trusts, which were originally issued between 1993 and 1998.

For series 2004-2, the pool consisted of approximately 92.89% performing and 7.11% sub-performing mortgage loans, and had a weighted average seasoning of 33 months. Approximately 42.19% of the original collateral was made up of loans that remained from called trusts, which were originally issued between 1995 and 1998.

As of the December 2005 distribution date, the transactions are seasoned only 20 and 15 months respectively, and the pool factors (current mortgage loan principal outstanding as a percentage of the initial pool) are approximately 47% and 58% respectively.

All of the loans were sold to Bear Stearns Asset Backed Securities I LLC by EMC Mortgage Corporation. The principal originators were Aames Capital Corporation, United Companies Financial Corporation, WMC Mortgage Corporation, and Life Bank. The loans are master serviced by EMC Mortgage Corporation (rated 'RPS1' by Fitch).

Fitch will continue to closely monitor these transactions. Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings website at 'www.fitchratings.com'.

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.