Correction: Fitch Rates Structured Asset Investment Loan Trust Series 2003-BC3.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 12, 2003

(This is an amended version of a press release issued May 5, containing revised rating information on the class M3 certificates rated 'A-', not 'BBB+', the class M4 certificates rated 'BBB+', not 'BBB', and the class M5 certificates rated 'BBB', not 'BBB-'.)

Structured Asset Investment Loan Trust (SAIL) $991.6 million pass-through certificates, series 2003-BC3 classes 1-A1, 1-A2, 2-A1, 2-A2 and A-IO certificates are rated 'AAA' by Fitch Ratings. IN addition, Fitch rates the $53.4 million class M1 certificates 'AA', $26.1 million class M2 certificates 'A', $5 million class M3 certificates 'A-', $9.46 million class M4- certificates 'BBB+', $6.67 million class M5 certificates 'BBB', and $7.23 million class B certificates 'BBB-'.

The 'AAA' rating on the senior certificates reflects the 10.85% total credit enhancement provided by the 5.25% class M1, 2.35% class M2, 0.45% class M3, 0.85% class M4, 0.60% class M5, 0.65% class B, as well as the 0.70% initial overcollateralization (OC). All certificates have the benefit of monthly excess cash flow to absorb losses. The ratings also reflect the quality of the loans, the soundness of the legal and financial structures, and the capabilities of Aurora Loan Services as Master Servicer. The Murrayhill Company will monitor the deal and make recommendations to the primary servicers regarding certain delinquent and defaulted mortgage loans. Wells Fargo Bank Minnesota, NA will act as trustee.

The mortgage pool consists of 6,706 fixed- and adjustable-rate, fully-amortizing and balloon, first and second lien conventional residential mortgage loans having an original term of no more than 30 years. The cut-off date balance of the pool is approximately $1,112,348,028. The fixed-rate mortgage loans make up 21.10% of the pool, 0.91% of the pool are balloon loans and the adjustable-rate mortgage loans account for the remaining 77.99% of the pool. Approximately 98.50% of the mortgage loans are secured by first mortgages and approximately 1.50% are secured by second mortgages. The mortgage loans will be divided into two pools. Approximately 43.04% and 43.51% of the first lien mortgage loans in pool 1 and pool 2 are 80+ LTV loans. Lehman Capital has assigned to the trust fund a loan-level primary mortgage insurance policy to each of the two pools through Mortgage Guaranty Insurance Corporation and Radian Guaranty Inc. 43.03% of the 80+ LTV loans in pool 1 and 40.69% of the 80+ LTV loans in pool 2 are covered by these policies. For additional collateral information please go to 'Deal Tracker' on the Fitch Ratings web site at 'www.fitchratings.com'.

Principal and interest payments will be distributed on the 25th day of each month commencing in May 2003. Distributions of principal and interest on the class 1-A1 and 1-A2 certificates will be based primarily on collections from the pool 1 mortgage loans. Distributions of principal and interest on the class 2-A1 and 2-A2 certificates will be based primarily on collections from the pool 2 mortgage loans. To the extent available, principal may be distributed from the Principal Distribution Amount from the unrelated Mortgage Pool to the class 1-A1, 1-A2, 2-A1, and 2-A2 certificates, resulting in limited cross-collateralization. Distributions of interest on the class A-IO certificates will be based on collections from the combined mortgage pools. Distributions of principal and interest on the class M1, M2, M3, M4, M5 and B certificates will be based on collections from the two mortgage pools. Interest will be paid to the class 1-A1, 1-A2, 2-A1 and 2-A2 certificates, followed by interest to the classes M1, M2, M3, M4, M5 and B certificates. Unless paid down to zero, principal will be paid exclusively to the class 1-A1, 1-A2, 2-A1 and 2-A2 certificates until the step-down date has been reached. After the step-down date, and provided that a trigger event has not occurred, principal payments may also be distributed to the subordinate certificates.

Approximately 29.33%, 21.42%, 12.98%, 12.05% and 11.12%, respectively, of the loans were originated or acquired in accordance with the underwriting guidelines of BNC Mortgage, Inc., First Franklin Financial Corporation, Finance America, LLC, Fieldstone Mortgage Company, and People's Choice Home Loans, Inc. The remainder of the loans were originated by banks, savings and loan institutions and other mortgage lending companies in accordance with their subprime underwriting guidelines. Subprime mortgage loans are generally made to borrowers who do not qualify for financing under conventional underwriting criteria due to prior credit difficulties and/or the inability to satisfy conventional documentation standards, and/or conventional debt-to-income ratios. In analyzing the collateral pool, Fitch adjusted its frequency of foreclosure and loss assumptions to account for these attributes. For federal income tax purposes, multiple real estate mortgage investment conduit (REMIC) elections will be made with respect to the trust estate.