CapMAC Licenses the STARS Visual Structuring System™

STARS VST™ brings cutting edge technology to leading credit enhancer

For Immediate Release

Contact:
Paul Arvidson
Lewtan Technologies, Inc®
781-672-1216
parvidson@lewtan.com
www.lewtan.com

November 22, 1996, Waltham, MA - Lewtan Technologies ("Lewtan"), the leading provider of software, data and analytics to the global securitisation industry, today announced that Capital Markets Assurance Corporation (CapMAC), of New York City, has licensed the STARS Visual Structuring System (STARS VST), a revolutionary new software solution. STARS VST is an object-oriented solution for conceptualizing, modeling, stress testing, communicating and reverse engineering asset-backed and mortgage-backed securities.

Lewtan Technologies’ President Stuart Lewtan commented, "We are thrilled to add CapMAC, one of the leading credit enhancers worldwide, to our customer list. It emphasizes our commitment to provide quality solutions to all major players in the ABS industry." CapMAC is the second of the five major monoline insurance companies to purchase STARS VST, which was released in early 1996. Municipal Bond Insurance Company (MBIA), also uses STARS VST to support their evaluation of ABS and MBS transactions. CapMAC provides credit enhancement for structured securities - particularly asset-backed securities in the public and private capital markets worldwide. Based in New York City, CapMAC also has offices in Paris, London and Singapore.

STARS VST is a breakthrough in the visual modeling of complex financial transactions. With STARS VST, even the most complex structure can be designed quickly. By simply dragging pre-defined objects (such as tranches, cashflows, and triggers) into the workspace, drawing lines to connect the objects (the lines represent cash or information flows), the results are immediately visible in user-defined graphs and tables. STARS VST comes complete with pre-defined securitization objects, an internal report writer and a database of reverse engineered deals, which are indicative of the most recent structuring trends.

Stuart Lewtan, President of Lewtan Technologies, states "We recognize Fitch IBCA's importance as an industry leader in the home equity arena and are delighted by their participation in ABSnet™. The asset-backed securities industry has long needed standardization, and this partnership creates enormous momentum in that direction."

About STARS VST

STARS VST is part of a suite of STARS solutions. The STARS family includes Lewtan’s Flagship product, the STARS ABS System, a complete solution for performing all investor reporting and accounting for servicing asset-backed transactions. The STARS Collateral Analysis System is a comprehensive solution for performing pool selection and cash flow modeling for any asset-backed transaction. The STARS Conduit Management System provides the up-front analysis, decision support, ongoing monitoring, and accounting functionality needed to launch and run a successful and profitable multi-asset, multi-currency, asset-backed conduit.

About Lewtan Technologies, Inc.

Lewtan Technologies, Inc.® is the leading provider of software, data and analytics to the global securitization industry. Founded in 1986, Lewtan serves over 200 securitization customers worldwide. In 1999, Lewtan, working with an industry consortium including Standard "&" Poor's, Fitch, Bank One and others, launched ABSNet (www.absnet.net). ABSNet is now the leading Internet source of structured finance news, data, research and analytics, with over 7,000 users in more than 50 countries. Lewtan offers industry participants "Powered by ABSNet" solutions that leverage ABSNet's web infrastructure, database and user base. Solutions benefit issuers, CDO collateral managers, dealers, investors, credit enhancers, trustees, rating agencies and asset-backed CP conduit sponsors.