Fitch Rates Morgan Stanley Capital I Trust 2006-HQ10.

CHICAGO -- Morgan Stanley Capital I Trust 2006-HQ10, commercial mortgage pass-through certificates are rated by Fitch Ratings as follows:

-- $41,800,000 class A-1 'AAA';

-- $90,658,000 class A-1A 'AAA';

-- $88,100,000 class A-2 'AAA';

-- $62,900,000 class A-3 'AAA';

-- $610,249,000 class A-4 'AAA';

-- $150,000,000 class A-4FL 'AAA';

-- $149,101,000 class A-MFL 'AAA';

-- $119,281,000 class A-J 'AAA';

-- $1,491,010,944 class X-1 'AAA';

-- $1,458,366,000 class X-2 'AAA ';

-- $31,684,000 class B 'AA';

-- $16,774,000 class C 'AA-';

-- $22,365,000 class D 'A';

-- $16,774,000 class E 'A-';

-- $18,638,000 class F 'BBB+';

-- $18,637,000 class G 'BBB';

-- $13,047,000 class H 'BBB-';

-- $5,591,000 class J 'BB+';

-- $3,727,000 class K 'BB';

-- $3,728,000 class L 'BB-';

-- $3,728,000 class M 'B+';

-- $1,863,000 class N 'B';

-- $5,592,000 class O 'B-';

-- $16,773,944 class P 'NR'.

Class P was not rated by Fitch.

Classes A-1, A-1A, A-2, A-3, A-4, A-4FL, A-MFL, A-J, B, C and D are offered publicly, while classes X-1, X-2, E, F, G, H, J, K, L, M, N, O and P 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 124 fixed rate loans having an aggregate principal balance of approximately $1,491,010,945, as of the cutoff date.

For a detailed description of Fitch's rating analysis, please see the report titled 'Morgan Stanley Capital I Trust 2006-HQ10', dated Oct. 24, 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.