DBRS Confirms Comet Trust at R-1 (high) and AAA

Dominion Bond Rating Service (DBRS) has today confirmed the ratings of Comet Trust (the Trust or the Company) as indicated above.

The Trust is a multi-seller, multi-asset and structured financial asset program administered by Coventree Capital Group (Coventree). There are no restrictions concerning asset types, but each asset purchase supporting the Notes is subject to the approval of DBRS and Coventree.

The confirmation is based on the following considerations:
(1) High credit enhancement levels are consistent with similarly rated multi-seller, multi-asset securitization and structured financial asset programs in Canada.
(2) Good performance of underlying collateral.
(3) All transactions are reviewed by DBRS prior to funding by the program.
(4) The significant experience of Coventree in the structuring, administering and managing multi-asset multi-seller and structured financial asset programs.

As of April 30, 2006, the program amount of the Trust was $1.9 billion ($1.0 billion of Series A Notes, $709 million of Series E Notes and $209 million of Floating Rate Notes, Series F) with assets consisting of structured financial assets (which include CDO technology) (50%), residential mortgages - uninsured (24%) and commercial mortgages (17%). Comet Trust is one of seven multi-seller conduits administered by Coventree with aggregate outstanding amounts of $11.2 billion as of April 30, 2006.

Note: All figures are in Canadian dollars, unless otherwise noted.