2008-09-15 23:49:02 -

- Fitch Ratings has taken the following rating actions on Financial Asset Securities Corp., AAA Trust, Series 2005-1. The classes represent a beneficial ownership interest in separate trust funds, which include bonds that have been affirmed.

Financial Asset Securities Corp., AAA Trust, Series 2005-1

--Classes II-A2 and II-X affirmed at 'AAA'

The rating actions were taken as part of Fitch's ongoing surveillance process of existing transactions.

Further information regarding current delinquency, loss, and credit enhancement statistics is also available 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.

Fitch Ratings
Michele Patterson, 212-908-0779
Tara Sweeney, 212-908-0347 (New York)
Media Relations:
Sandro Scenga, 212-908-0278 (New York)