Fitch Rates GFCM LLC Series 2003-1.

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 26, 2003

GFCM LLC's commercial mortgage pass-through certificates, series 2003-1, are rated by Fitch Ratings as follows:

-- $150,000,000 class A-1 'AAA';

-- $110,000,000 class A-2 'AAA';

-- $110,000,000 class A-3 'AAA';

-- $270,000,000 class A-4 'AAA';

-- $112,724,000 class A-5 'AAA';

-- $822,649,204 class X 'AAA';

-- $11,311,000 class B 'AA';

-- $13,368,000 class C 'A';

-- $11,311,000 class D 'BBB';

-- $10,284,000 class E 'BBB-';

-- $12,339,000 class F 'BB+';

-- $7,198,000 class G 'BB';

-- $2,057,000 class H 'BB-';

-- $2,057,004 class I 'B-'.

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 171 fixed-rate loans having an aggregate principal balance of approximately $882,649,204, as of the cutoff date.

For a detailed description of Fitch's rating analysis, please see the report titled, 'GFCM LLC Commercial Mortgage Pass-Through, Series 2003-1', dated Sept. 16, 2003 and available on the Fitch Ratings web site at 'www.fitchratings.com'.