Fitch Upgrades/Affirms GE Capital's Servicer Ratings.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 2, 2001

Fitch-NY--Fitch upgrades GE Capital Loan Services, Inc.'s (GECLS) master servicer rating to `CMS1-' from `CMS2' and affirms its primary servicer rating of 'CPS1'. Fitch also upgrades the special servicer rating of GE Capital Real Estate Group (GECRG) to `CSS2+' from `CSS2'. Reasons for the master servicer upgrade include the release and support of an easily navigated CMBS web site and the automation of subservicer monitoring processes. The primary servicer rating is based on GECLS' continued excellent primary servicing capabilities and dedicated commitment to technology. The special servicing rating upgrade reflects GECRG's proven ability to manage and resolve multifamily and commercial mortgage loans and real estate owned assets, as well as its strong, internally developed asset management system. GE Capital's strengths include highly experienced loan servicing and asset management staff with significant company tenure as well as the strong support of a highly rated parent.

As of March 31, 2001, GECLS was primary servicing 1,833 CMBS loans, totaling $10.1 billion and master servicing 265 loans in 14 CMBS transactions, totaling $1.7 billion. GECRG is named special servicer on 4 CMBS transactions totaling $1.8 billion.

Fitch rates commercial mortgage primary, master, and special servicers on a scale of 1 to 4, with 1 being the highest rating. Within each of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating.

For more information about Fitch commercial mortgage servicer ratings or rating criteria, refer to the report titled 'Commercial Mortgage Servicer Rating Criteria', dated Oct. 28, 1999, available on Fitch's web site at 'www.fitchratings.com'.