2008-12-23 17:39:00 -

Fitch Ratings affirms J.E. Robert Companies' (JER) 'CSS1' commercial mortgage special servicer rating. The rating is based on JER's highly experienced asset management and special servicing team and its proven ability to successfully workout, manage and resolve CMBS mortgage loans. The rating also reflects JER's long history of CMBS special servicing, the tenure and experience of its senior management, and its asset management technology.
As of Sept. 30, 2008, JER was named special servicer on 22 CMBS transactions, totaling $48 billion. As of the same date, JER was actively specially servicing 38 CMBS loans totaling $302 million.
Fitch rates commercial mortgage primary, master, and special servicers on a scale of 1 to 5, 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 'U.S. Commercial Mortgage Servicer Rating Criteria' dated Sept. 14, 2007, which is available on Fitch's web site 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

Richard Carlson, +1-312-606-2373 (Chicago)

Jeff Wagner, +1-646-478-6592 (Kansas City)

Sandro Scenga, +1-212-908-0278

(Media Relations, New York)

sandro.scenga@fitchratings.com