Subject: CMBS Pricing (PRICE)

July 20, 2000 Go To Initial Price Talk. GMAC Commercial Mortgage Securities Inc. Series 2000-FL1ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriced(BP)BnchMarkA266.127AAAAaa2.53+241-mo. LiborB29.219AAAa23.96+481-mo. LiborC2013.5AA23.96+761-mo. LiborD208BBBBaa23.96+1641-mo. LiborE14.64BBB-Baa33.96+2051-mo. LiborF14.6N/ABBBa24.85+4851-mo. LiborX364.5NAAAAAaa----1-mo. LiborNote: This transaction was officially launched July 17, and priced July 18. It was reported earlier that the ...

July 20, 2000 Go To S&P's Presale Report.Go To Fitch's Presale Report.Credit Suisse First Boston Mortgage Securities Corp., 2000-C1ClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchAvg.LifePriceTalk(BP)BnchMarkA-1184.222.5AAAAAA5+30 area1 mo. LiborA-2677.522.5AAAAAA10+40 area1 mo. LiborB50.118AAAA9.7+55 area1 mo. LiborC44.514AA9+70 area1 mo. LiborD15.312.63A-A-9+82 area1 mo. LiborE29.110BBBBBB9+240-250Treas.F13.98.76BBB-BBB-9+270-280Treas.X*1.1 BlnNAAAAAAA----1 mo. Libor

July 20, 2000 Go To S&P's Presale Report.Go To Moody's Presale Report.Morgan Stanley Dean Witter Capital IClassAmount($mln)Sub. Level(%)RatingMoody'sRatingS&PAvg.LifePriceTalk(BP)BnchMarkA654.626AaaAAA1.4+21-231-mo. LiborB75.217.5Aa2AA1.8+35 area1-mo. LiborC88.57.5A2A2.1+75 area1-mo. LiborD30.94A3A-2.2+90 area1-mo. LiborE35.40.0Baa2BBB2.3+150-1601-mo. Libor

Go To S&P's Presale Report.Go To Moody's Presale Report.GMAC Commercial Mortgage Securities Inc. Series 2000-FL1ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvgg.LifePriceTalk(BP)BnchMarkA266.127AAAAaa2.53+25 area1-mo. LiborB29.219AAAa23.96+40 area1-mo. LiborC2013.5AA23.96+80 area1-mo. LiborD208BBBBaa23.96+170 area1-mo. LiborE14.64BBB-Baa33.96+210 area1-mo. LiborF14.6N/ABBBa24.85+475 area1-mo. LiborX364.5NAAAAAaa----1-mo. Libor

July 7, 2000 GMAC Commercial Asset Corp., Series 2000-FL-BClassAmount($mln)Sub. Level(%)RatingS&PRatingFitchRatingMoody'sAvg.LifeSpread(BP)BnchMarkA88.436AAAAAAAaa1.9+30LiborB7.230.75NRANR2.1+100LiborC11.722.25NRBBBNR2.5+175LiborD3.519.75NRBBB-NR3--LiborE8.613.5NRBBNR4--LiborF9.3NANRBNR4.5--LiborG9.3NANRNRNR----Libor

June 29, 2000 Go To Initial Price Guidance.The following table shows final pricing for the top eight tranches of a 32-tranche floating-rate deal – a variant of the "A-B" structure, in this case an "A-B-C" structure (see figure below pricing ...

June 26, 2000 Note: During marketing of the following commercial mortgage-backed securities offering, the official name of the transaction was changed from "Prudential Securities Secured Financing Corp., Series 2000-Key 1" to "KeyBK 2000-C1." The change was made to better reflect ...

June 26, 2000 Go To S&P's Presale Report.Go To Fitch Presale Report.Go To Moody's Presale Report.The following table shows price guidance on the top eight tranches of a 32-tranche floating-rate deal, assembled in a variant of the "A-B" structure – ...

June 23, 2000 Go To Initial Price Talk.Chase Commercial Mortgage Securities Corp., Series 2000-2ClassAmount($mln)Sub. Level(%)RatingFitchRatingMoody'sAvg.LifePricetalk(BP)BnchMarkA-111924AAAAaa5+293-mo. LiborA-2442.524AAAAaa10+383-mo. LiborB26.820.375AAAa210+543-mo. LiborC34.215.75AA210+693-mo. LiborD1214.125A-A310+793-mo. LiborE2311BBBBaa210+245Treas.X*738.7NAAAAAaaNA+365**Treas.* Interest-only strip.** At 100 percent CPR.

June 22, 2000 Columbia Center Trust, Series 2000-CCTClassAmount($mln)RatingS&PRatingMoody'sAvg.LifePriced(BP)BnchMarkA114.6AAAAaa4.5+27LiborB22.9AAAa24.5+37LiborC20.4A+A14.5+60LiborD17A-A34.5+76LiborE20.2BBBBaa24.5+150LiborX1195AAArAaa--N/ALibor