Fitch Affirms JP Morgan Primary & Master Servicer Ratings.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 13, 2001

Fitch affirms JP Morgan Mortgage Capital Inc.'s (JPMMC) primary servicer rating at `CPS2' and master servicer rating at `CMS3'.

The primary servicer rating reflects the company's continued ability to effectively service commercial mortgage loans in CMBS transactions and its close working relationship with its borrowers. The master servicer rating reflects the JPMMC's continued ability to report and remit to CMBS trustees and to effectively monitor third-party primary servicers, as demonstrated through its continued support of its National Accounts Program. Both ratings also reflect the strong support of parent JP Morgan Chase & Co.

As of Sept. 30, 2001, JP Morgan Mortgage Capital Inc.'s servicing portfolio consisted of 275 loans totaling $2.1 billion, of which $140 million is CMBS.

Fitch rates commercial mortgage primary, master, and special servicers on a scale of 1 to 4, with 1 being the highest rating. Within each of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating. For more information about Fitch commercial mortgage servicer ratings or rating criteria, refer to the report titled 'Commercial Mortgage Servicer Rating Criteria', dated Oct. 28, 1999 and available on Fitch's web site at 'www.fitchratings.com'.