Fitch Rates COMM 2006-FL12.

NEW YORK -- COMM 2006-FL12, which closed Oct. 24, 2006, commercial mortgage pass-through certificates are rated by Fitch as follows

--$217,035,000 class A-1 'AAA';

--$1,300,765,000class A-2 'AAA';

--$2,570,145,824 class X-1 'AAA';

--$2,570,145,824 class X-2 'AAA';

--$48,500,000 class X-3-BC 'AAA';

--$2,372,545,824 class X-3-DB 'AAA';

--$149,100,000 class X-3-SG 'AAA';

--$2,570,145,824 class X-4 'AAA';

--$48,500,000 class X-5-BC 'AAA';

--$2,372,545,824 class X-5-DB 'AAA';

--$149,100,000 class X-5-SG 'AAA';

--$507,000,000 class A-J 'AAA';

--$111,000,000 class B 'AA+';

--$78,000,000 class C 'AA+';

--$86,000,000 class D 'AA';

--$64,000,000 class E 'AA-';

--$64,000,000 class F 'A+'

--$61,000,000 class G 'A+';

--$38,000,000 class H 'A';

--$43,345,824 class J 'A-';

--$41,000,000 class CN1 'BBB';

--$28,000,000 class CN2 'BBB';

--$27,754,225 class CN3 'BBB-';

--$75,500,000 class KR1 'BBB+';

--$23,500,000 class KR2 'BBB';

--$66,500,000 class KR3 'BBB-';

--$6,800,000 class IP1 'BBB+';

--$11,200,000 class IP2 'BBB';

--$11,000,000 class IP3 'BBB-';

--$5,000,000 class HDC1 'BBB+';

--$7,363,000 class FSH1 'BBB+';

--$9,818,000 class FSH2 'BBB';

--$10,309,000 class FSH3 'BBB-';

--$4,200,000 class CA2 'BBB';

--$4,800,000 class CA3 'BBB-';

--$5,300,000 class CA4 'BBB-';

--$6,300,000 class AN3 'BBB-';

--$5,000,000 class AN4 'BBB-';

--$4,762,597 class SR1 'BBB+';

--$3,300,000 class MSH1 'BBB+';

--$2,900,000 class MSH2 'BBB';

--$4,800,000 class MSH3 'BBB-';

--$4,000,000 class MSH4 'BB+';

--$5,900,000 class FG1 'AA';

--$6,100,000 class FG2 'A+';

--$4,300,000 class FG3 'A-';

--$5,500,000 class FG4 'BBB';

--$7,200,000 class FG5 'BBB-';

--$2,500,000 class LS1 'BBB+';

--$2,700,000 class LS2 'BBB';

--$2,600,000 class LS3 'BBB-';

--$2,900,000 class TC1 'BBB';

--$2,400,000 class TC2 'BBB-';

--$2,300,000 class LB1 'BBB+';

--$1,600,000 class LB2 'BBB';

--$1,600,000 class LB3 'BBB-';

--$1,800,000 class ES1 'BBB+';

--$1,700,000 class ES2 'BBB';

--$1,500,000 class ES3 'BBB-';

--$1,300,000 class AH1 'BBB+';

--$1,300,000 class AH2 'BBB';

--$1,500,000 class AH3 'BBB-';

--$1,900,000 class AH4 'BB+';

--$1,300,000 class CM1 'A-';

--$2,500,000 class CM2 'BBB-'.

The $2,700,000 class CA1, $2,800,000 class AN1 and $3,900,000 class AN2 are not rated by Fitch.

All classes are privately placed pursuant to rule 144A of the Securities Act of 1933. The certificates represent beneficial ownership interest in the trust, primary assets of which are 17 floating rate loans having an aggregate principal balance of approximately $3,011,052,646, as of the cutoff date.

For a detailed description of Fitch's rating analysis, please see the report titled 'COMM 2006-FL12', dated Oct. 13, 2006 and available on the Fitch Ratings web site at www.fitchratings.com.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.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.