Carneros III plc

Ratings

• Date Issued	Debt Rated	Rating	Trend	Action	Attributesi US = Lead Analyst based in USA CA = Lead Analyst based in Canada EU = Lead Analyst based in EU UK = Lead Analyst based in UK E = EU endorsed U = UK endorsed Unsolicited Participating With Access Unsolicited Participating Without Access Unsolicited Non-participating
  19-Sep-06	EUR 146,000,000 Series A Floating Rate Credit Linked Secured Carneros III Notes due 2016	AAA (sf)	--	New Rating	CA
  19-Sep-06	EUR 25,000,000 Series E EUR CMS Floating Rate Credit Linked Secured Carneros III Notes due 2016	AAA (sf)	--	New Rating	CA
  19-Sep-06	JPY 300,000,000 Series A Floating Rate Credit Linked Secured Carneros III Notes due 2016	AAA (sf)	--	New Rating	CA
  19-Sep-06	USD 10,000,000 Series A Floating Rate Credit Linked Secured Carneros III Notes due 2016	AAA (sf)	--	New Rating	CA
  19-Sep-06	EUR 5,500,000 Series B Floating Rate Credit Linked Secured Carneros III Notes due 2016	AA (sf)	--	New Rating	CA
  19-Sep-06	JPY 2,100,000,000 Series C Floating Rate Credit Linked Secured Carneros III Notes due 2016	AA (low) (sf)	--	New Rating	CA

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