Correction: Fitch Upgrades 4, Affirms 13 and Places 1 on Watch Negative of SAMI RMBS Rtgs from 1 Securitization.

Business Editors

NEW YORK--(BUSINESS WIRE)--Aug. 1, 2003

(This is a revised version of a press release issued earlier today, containing revised ratings on classes IB1 - IB4 for series 2000-1, Group 1)

Fitch Ratings has upgraded four classes, affirmed thirteen and placed one on Rating Watch Negative of Structured Asset Mortgage Investments, Inc. (SAMI) residential mortgage-backed certificates, as follows:

Structured Asset Mortgage Investments, Inc., mortgage pass-through certificates, series 2000-1, Group 1

-- Class IA1 affirmed at 'AAA'

-- Class IB1 affirmed at 'AA'

-- Class IB2 affirmed at 'A'

-- Class IB3 affirmed at 'BBB'

-- Class IB4 affirmed at 'BB'

-- Class IB5 affirmed at 'B'

Structured Asset Mortgage Investments, Inc., mortgage pass-through certificates, series 2000-1, Group 2

-- Class IIA1 affirmed at 'AAA';

-- Class IIB1 affirmed at 'AAA';

-- Class IIB2 upgraded to 'AA+' from 'AA';

-- Class IIB3 upgraded to 'A+' from 'A';

-- Class IIB4 upgraded to 'BBB+' from 'BBB';

-- Class IIB5 affirmed at 'BB+'.

Structured Asset Mortgage Investments, Inc., mortgage pass-through certificates, series 2000-1, Group 3

-- Class IIIA1 affirmed at 'AAA';

-- Class IIIB1 affirmed at 'AAA';

-- Class IIIB2 upgraded to 'AA+' from 'AA';

-- Class IIIB3 affirmed at 'A';

-- Class IIIB4 affirmed at 'BBB';

-- Class IIIB5, rated 'BB', placed on Rating Watch Negative.

These rating actions are being taken as a result of low delinquencies and losses, as well as increased credit support.

Further information regarding current delinquency, loss and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'.