Deal Name: Morgan Stanley Dean Witter Capital I

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnS&PNewRatingS&POldRatingReason for Rating ActionMorgan Stanley Dean Witter Capital I Trust, 2000-PRIN343.8598.0B17.9AAAAAIncreased subordination.---C19.4AA-A----D10.5A-BBB----E4.5BBB+BBB--GE Commercial Mortgage Corp., 2003-C11,137.01,189.0B41.6AAAAAIncreased subordination; defeasance (11 percent of pool.)---C16.3AA+AA-----D25.3AAA----E16.3AA-A-----F10.4ABBB+----G16.3A-BBB----H16.3BBBBBB--Criimi Mae CMBS Corp., 1998-1116.6495.8E16.1AA+AAIncreased subordination---F23.6AABBB----G5.0ABB+----H8.7BB+B----J2.5BB-B-----K5.0B+CCC-

Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingMoody'sNewRatingMoody'sOldRatingS&PNewRatingS&POldRatingReason for Rating ActionDuke-Weeks Industrial Trust, 2000-DW1200.0260.0B-230.0AAAAA -- - - Improved DSC- - - C-224.6AA-A-  -- -  -DLJ Commercial Mortgage Corp., 1998-CG11,110.01,560.0B-170.4AAAAA+ - - - -Improved subordination; defeasance (23.3 percent of pool.) - - -B-223.5AAAAA- - - - --  - - -B-315.6AAAA+ - - - - - - - -B-466.5A-BBB- - - - - - - - -B-515.6BBBBB+ - - - - - - - -B-627.4BB+B+ - -- - - Morgan Stanley Dean Witter Capital I Trust, 2001-TOP1882.51,160.0B34.7AAAAA - -- - Improved subordination -- - C31.8AAA - -- - -  - - -D11.6AA- - - - - -GS Mortgage Securities Corp. II, 2004-C1879.6892.3B20.1AA+AA - -- - Improved subordination; defeasance (11.3 percent of pool)- - - C7.8AAAA- - - - --  - - -D16.7A+A - - - - - - - -E12.3AA- - - - - - - - -F13.4A-BBB+ - - - - -

Following is a list of recent CMBS upgrades by Moody's Investors Service:Deal NameCurrentPoolBal. $mlnOrig.PoolBal $mlnClassSize$mlnFitchNewRatingFitchOldRatingMoody'sNewRatingMoody'sOldRatingS&PNewRatingS&POldRatingReason for Rating ActionGFCM LLC, 2003-1684.5822.6B11.3  Aa1Aa2  Increased subordination; improved pool performanceLehman Brothers Floating-Rate Commercial Mortgage Trust, 2003-LLF C2130.21,200.0H21.1  AaaA2  Increased subordination   J33.3  Aa2Baa1   Morgan Stanley Dean Witter Capital I Inc., 2000-PRIN362.9598.0B17.9  AaaAa1  Increased subordination; ...

Standard & Poor's has downgraded two classes of Morgan Stanley Dean Witter Capital I Trust, 2001-PPM, because of interest shortfalls stemming from a loan modification.The rating agency downgraded the deal's: - $9.4 million class H to D from CCC and ...

Fitch Ratings has upgraded certain bond classes from two CMBS transactions issued in 2000: Morgan Stanley Dean Witter Capital I Trust Inc., 2000-LIFE2, and Chase Commercial Mortgage Finance Corp., 2000-3.The upgrades were prompted by improved subordination levels.The 2000-LIFE2 transaction has ...

Standard and Poor's has upgraded nine classes of the Morgan Stanley Dean Witter Capital I Trust, 2001-TOP5, because of improved subordination levels. The deal has a remaining balance of $950 million, down 5 percent from $1 billion at issuance. S&P ...

Moody's Investors Service has upgraded three classes of Morgan Stanley Dean Witter Capital I Trust, 2001-TOP 5, because of improved subordination levels.The deal's collateral balance is $954 million, compared with $1.04 billion at issuance. Another 1 percent of the deal ...

March 31, 2005 Moody's Investors Service has upgraded two classes of Morgan Stanley Dean Witter Capital I Trust, 2000-LIFE2, because of improved subordination levels. The deal's balance is $678 million, down from $765.3 million at issuance. Another 1 pecent of ...

February 25, 2005 Standard & Poor's has downgraded five classes of Morgan Stanley Dean Witter Capital I Trust, 2003-HQ2.The classes have suffered a deterioration in credit enhancement as a result of the disposition of a loan in special servicing.The rating ...

February 17, 2005Fitch Ratings has placed two classes of Morgan Stanley Dean Witter Capital, 2001-PPM, on rating watch negative because of expected interest shortfalls.The two classes are: – $10.9 million class E, which is rated triple-B-plus and – $4.7 million ...