Fitch Affirms 91 U.S. CMBS Transactions Serviced by GMACCM.

NEW YORK -- Fitch Ratings affirms 91 U.S. CMBS transactions for which GMAC Commercial Mortgage (GMACCM) is the master servicer. The recent downgrade of General Motors' and GMAC's corporate ratings to 'BB+' from 'BBB-' does not adversely affect the ratings of the transactions, nor is the potential divesture of GMACCM Holdings from GMAC expected to affect the ratings.

Fitch today also affirmed the master servicer ratings of GMACCM at 'CMS2+'. For more information, see the separate press release, 'Fitch Affirms GMACCM'S US CMBS Servicer Ratings', which is available on the Fitch Ratings web site at www.fitchratings.com.

The following transactions master serviced by GMACCM are affirmed by Fitch:

-- 277 Park Avenue Finance Corp., Series 1997-C1;

-- Aetna Comm'l Mtg Trust 1995-C5;

-- American Southwest 1993-2;

-- Asset Securitization 1995-MDIV;

-- Asset Securitization 1996 MD VI;

-- Asset Securitization 1996-D3;

-- Asset Securitization 1997-D4;

-- BACM 2001-1;

-- CAPCO 1998-D7;

-- CDC 2002-FX1;

-- Chase CMSC 1996-1;

-- Chase CMSC 1996-2;

-- Chase CMSC 1997-2;

-- Chase CMSC 1998-2;

-- Chase CMSC 2000-FL1;

-- Chase-First Union 1999-1;

-- Citigroup Commercial Mortgage Securities Inc. 2005-EMG;

-- COMM 2001-FL5;

-- COMM 2004-LNB2;

-- Commercial Trust I, Series 1993-K-A;

-- CSFB 1995-M1;

-- CSFB 2000-C1;

-- CSFB 2001-SPG1;

-- CSFB 2005-C1;

-- CSFB/First Union 1995-MF1;

-- DLJ 1996-CF1;

-- DLJ 1997-CF1;

-- Freehold Raceway Mall Trust;

-- GFCM LLC 2003-1;

-- GGP Malls Properties Trust 2001-GGP1;

-- GMAC 2002-FL1;

-- GMAC 1997-C1;

-- GMAC 1998-C1;

-- GMAC 1998-C2;

-- GMAC 1999-C1;

-- GMAC 1999-C2;

-- GMAC 1999-C3;

-- GMAC 2000-C1;

-- GMAC 2000-C2;

-- GMAC 2000-C3;

-- GMAC 2000-FL-A;

-- GMAC 2000-FL-F;

-- GMAC 2001-C1;

-- GMAC 2001-C2;

-- GMAC 2002-C3;

-- GMAC 2003-C2;

-- GMACCM 2004-C3;

-- GS Mortgage Sec Corp II 1997-GL I;

-- GS Mortgage Sec Corp II 2001-GL III;

-- GSMS 2005-GSFL VII;

-- GSMSC II 2003-C1;

-- Istar 2003-1;

-- J.P. Morgan Chase 2001-A;

-- JP Morgan Chase 2001-CIBC1;

-- JPMC 2004-C1;

-- JPMC 2004-CIBC9;

-- LB 1998-C1;

-- LTC Commercial 1996-1;

-- Madison Square 2004-1;

-- Merrill Lynch 1995-C1;

-- Merrill Lynch 1995-C2;

-- Merrill Lynch 1995-C3;

-- Merrill Lynch 1996-C1;

-- Merrill Lynch 1997-C1;

-- Merrill Lynch 1998-C1-CTL;

-- Morgan Stanley 1996-C1;

-- Morgan Stanley 1997-C1;

-- Morgan Stanley 1997-HF1;

-- Morgan Stanley 1997-XL1;

-- Morgan Stanley 1998-HF1;

-- Morgan Stanley 1999-FNV1;

-- Morgan Stanley 1999-RM-1;

-- Morgan Stanley 2001-PPM;

-- Morgan Stanley 2003-IQ4;

-- Morgan Stanley DW 2001-IQ;

-- Mortgage Capital Funding 1996-MC1;

-- Mortgage Capital Funding 1996-MC2;

-- Mortgage Capital Funding 1998-MC1;

-- MSCI 2003-IQ5;

-- NationsLink Funding Corp. 1996-1;

-- Nomura Asset Sec. Corp. 1994-MD I;

-- Nomura Asset Sec. Corp. 1996-MD V;

-- Nomura Asset Sec. Corp. 1998-D6;

-- Nomura Hotel Mtg Trust 1993-1;

-- PaineWebber 1996-M1;

-- Salomon Brothers 1999-C1;

-- SASCO, Series 1995-C4;

-- SASCO, Series 1997-LL1;

-- SDG Macerich Properties, L.P. Mortgage Notes 2000-1;

-- SL, Series 1997-C1;

-- TIAA CMBS I Trust 2001-C1.