Article: S&P Assigns Preliminary Ratings to East Realty Co. Ltd. CMBS.

TOKYO -- Standard & Poor's today announced the assignment of preliminary ratings to East Realty Co. Ltd.'s (East Realty) JPY83.9 billion commercial mortgage-backed fixed-rate notes classes A to E. The notes are ultimately backed by two department stores with railway facilities attached (one located in Ikebukuro, Tokyo, and the other in Funabashi in Chiba Prefecture), and the fee simple in a plot of land in Harajuku, Tokyo.

The preliminary ratings are based on information as of Feb. 18, 2002. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. The preliminary ratings address the full and timely payment of ...

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