Fitch Ratings Upgrades DLJ 1999-CG1.

NEW YORK -- DLJ Commercial Mortgage Corp's series 1999-CG1 commercial mortgage pass-through certificates are upgraded as follows:

--$18.6 million class A-4 to 'AAA' from 'AA';

--$46.5 million class B-1 to 'AAA' from 'A+';

--$15.5 million class B-2 to 'AA' from 'A-';

--$37.2 million class B-3 to 'A-' from 'BBB';

--$21.7 million class B-4 to 'BBB-' from 'BB+';

--$9.3 million class B-5 to 'BB+' from 'BB-'.

Fitch also affirms the following classes:

--$30.5 million class A-1A at 'AAA';

--$686.2 million class A-1B at 'AAA';

--Interest-only class S at 'AAA';

--$58.9 million class A-2 at 'AAA';

--$65.1 million class A-3 at 'AAA';

--$12.4 million class B-6 at 'B+;

--$12.4 million class B-7 at 'B-';

--$12.4 million class B-8 remains at 'C/DR4'.

The $4.6 million class C is not rated by Fitch.

The upgrades are a result of increased credit enhancement due to additional paydown and defeasance since Fitch's last rating action. Seventy-four loans (30.5%) have been fully defeased, including the Winston Hotel portfolio, the largest loan in the deal.

As of the July 2006 distribution date, the pool's aggregate principal balance has been reduced 16.3% to $1.03 billion from $1.24 billion at issuance. To date, the transaction has realized $20.3 million in losses. There are currently three loans (2.6%) in special servicing with losses expected to deplete class C and severely affect class B8.

The largest specially serviced loan (1%) is a retail property located in Roanoke Rapids, NC and is currently 90+ days delinquent. The special servicer has been in the process of finalizing a deed in lieu of foreclosure, which has been delayed due to a ground lease/access easement issue.

The second largest specially serviced loan (1%) is an office property located in Colorado Springs, CO and is currently 90+ days delinquent. The loan transferred to the special servicer when MCI WorldCom vacated their space. The borrower is currently in negotiations with a prospective tenant for the vacant space.

The third specially serviced loan (0.6%) is a retail property located in Joliet, IL and is currently in foreclosure. The loan transferred to the special servicer due to declining cash flow and major deferred maintenance issues and environmental concerns. The property is currently 32% occupied and the special servicer is working to stabilize the low occupancy.

Fitch's Distressed Recovery (DR) ratings, introduced in April 2006 across all sectors of structured finance, are designed to estimate recoveries on a forward-looking basis while taking into account the time value of money. For more information on Distressed Recovery ratings, see the full report ('Structured Finance Distressed Recovery Ratings'), which is available on the Fitch Ratings web site at www.fitchratings.com.

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