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Fitch Withdraws Bear Stearns Asset Management 'CAM3' Rating

Fitch Ratings has withdrawn Bear Stearns Asset Management's (BSAM) outstanding structured finance CDO Asset Manager 'CAM3' rating. Fitch will no longer provide analytical coverage on BSAM's CDO platform.

Fitch had previously extended BSAM's CAM Rating Watch Negative status on March 18, 2008 due to uncertainty of the status of BSAM's CDO platform following the announcement of the proposed sale of BSAM's parent company, The Bear Stearns Cos. (NYSE: BSC) to JP Morgan & Chase Co. (NYSE: JPM). BSAM's CDO administrative duties have been assumed by JP Morgan Asset Management, a subsidiary of JPM.

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.

Contacts:

Fitch Ratings
Russ Thomas, +1-312-368-3189, Chicago
Lauren Keiper, +1-212-908-0268, New York
Media Relations:
Sandro Scenga, +1-212-908-0278, New York

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