Fitch Assigns Final Ratings to Dillon Read CMBS CDO 2006-1, Ltd./Corp.

NEW YORK -- Fitch has assigned the following ratings to Dillon Read CMBS CDO 2006-1, Ltd. and Dillon Read CMBS CDO 2006-1, Corp. (collectively the 'co-issuers'):

--U.S. $650,000,000 Class A-S1VF Senior secured floating-rate notes due 2046 'AAA';

--U.S. $150,000,000 Class A1 Senior secured floating-rate notes due 2046 'AAA';

--U.S. $60,000,000 Class A2 Senior secured floating-rate notes due 2046 'AA';

--U.S. $41,250,000 Class A3 Secured deferrable interest floating rate notes due 2046 'A';

--U.S. $12,500,000 Class A4 Secured deferrable interest floating -rate notes due 2046 'A-';

--U.S. $28,750,000 Class B1 Mezzanine secured deferrable interest floating-rate notes due 2046 'BBB';

--U.S. $11,250,000 Class B2 Mezzanine secured deferrable interest floating-rate notes Due 2046 'BBB';

--U.S. $8,750,000 Class B3 Mezzanine secured deferrable interest floating-rate notes due 2046 'BBB-';

--U.S. $10,000,000 Class B4 Mezzanine secured deferrable interest fixed rate notes due 2046 'BB'.

For more information, please see the new issue report titled 'Dillon Read CMBS CDO 2006-1, Ltd./Corp.', available on the Derivative Fitch web site www.derivativefitch.com. Additional information about the collateral manager is also available on the Fitch web site.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.derivativefitch.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site. Fitch means Fitch, Inc., Fitch Ratings, Ltd. and their subsidiaries including Derivative Fitch, Inc. and Derivative Fitch Ltd. and any successor or successors thereto.