Correction: Fitch Ratings: Downgrades For 22 Commerzbank Supported Issues.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 25, 2002

(this is an amended version of a press release issued earlier today, containing revised information on 22, not 26, downgrades of Commerzbank supported issues)

Following rating downgrades for Commerzbank, Fitch Ratings downgrades the ratings on 22 issues supported by the bank. The affected bonds and their ratings are listed below. For additional information, see Fitch's press release dated Nov. 20, 2002 and available on the Fitch Ratings web site at 'www.fitchratings.com'.

-- Chicago (IL) (Chicago O'Hare International Airport), CP notes, series 2001A (AMT) (LOC: Commerzbank AG) to 'F2' from 'F1';

-- Chicago (IL) (Chicago O'Hare International Airport), CP notes, series 2001B (non-AMT) (LOC: Commerzbank AG) to 'F2' from 'F1';

-- Chicago (IL) (Chicago O'Hare International Airport), CP notes, series 2001C (LOC: Commerzbank AG) to 'F2' from 'F1';

-- Connecticut, State of (CT), 2nd lien special tax obligation bonds transportation infrastructure purposes, series 1990 series 1 (LOC: Commerzbank AG) to 'A-/F2' from 'A/F1';

-- First Albany Corp. (NY), FAC municipal trust floating-rate certificates, series 1999-1 (liquidity facility: Commerzbank AG) to 'AAA/F2' from 'AAA/F1';

-- First Albany Corp. (NY), FAC municipal trust floating-rate certificates, series 2001-1 (liquidity facility: Commerzbank AG) 'AA/F2' from 'AA/F1';

-- Harris County (TX), GO CP notes, series A (LOC: Commerzbank AG & Bank of Nova Scotia) to 'F1' from 'F1+';

-- Harris County (TX), GO CP notes, series B (LOC: Commerzbank AG & Bank of Nova Scotia) to 'F1' from 'F1'+;

-- Harris County (TX), GO CP notes, series C (LOC: Commerzbank AG & Bank of Nova Scotia) to 'F1' from 'F1'+;

-- Los Angeles Unified School District (CA), (Belmont Learning Complex) certificates of participation, series 1997A (LOC: Commerzbank AG) to 'A-/F2' from 'A/F1';

-- Massachusetts Water Resources Authority (MA), multi-modal sub general revenue bonds, series 1999A (insured: Ambac) (liquidity facility: Commerzbank AG, Credit Locale de France & The Bank of Nova Scotia) to 'AAA/F2' from 'AAA/F1';

-- Massachusetts, Commonwealth of (MA), GO refunding variable-rate demand bonds, series 1998A (liquidity facility: Commerzbank AG, NY) to 'AA-/F2' from 'AA-/F1';

-- New York City (NY), adjustable-rate GO bonds, series fiscal 1996J-2 (LOC: Commerzbank AG (A-/F2)) to 'A+/F2' from 'A+/F1';

-- New York City Municipal Water Finance Authority (NY), CP notes, series 1 (LOC: Commerzbank AG, Toronto-Dominion Bank, Bank of Nova Scotia) to 'F2' from 'F1';

-- New York City Municipal Water Finance Authority (NY), CP notes, series 3 (LOC: Commerzbank AG, Toronto-Dominion Bank, Bank of Nova Scotia) to 'F2' from 'F1';

-- Oakland Joint Powers Financing Authority (CA), lease revenue bonds 1998, series A-1 (insured: FSA) (liquidity facility: Commerzbank AG) to 'AAA/F2' from 'AAA/F1';

-- Oakland Joint Powers Financing Authority (CA) lease revenue bonds 1998, series A-2 (insured: FSA) (liquidity facility: Commerzbank AG) to 'AAA/F2' from 'AAA/F1';

-- Philadelphia (PA), water & wastewater revenue bonds, series 1997B (insured: AMBAC) (liquidity facility: Commerzbank AG) to 'AAA/F2' from 'AAA/F1';

-- Port of Oakland (CA), CP notes, series A & B (LOC: Commerzbank AG, Los Angeles & Bank of Nova Scotia, NY) to 'F2' from 'F1';

-- Port of Oakland (CA), CP notes, series C (LOC: Commerzbank AG, Los Angeles & Bank of Nova Scotia, NY) to 'F2' from 'F1';

-- Port of Seattle (WA), sub lien revenue bonds (AMT), series 1999B (LOC: Commerzbank AG) to 'A-/F2' from 'A/F1';

-- Port of Seattle (WA), sub lien series bonds (non-AMT), series 1999A (LOC: Commerzbank AG) to 'A-/F2' from 'A/F1';