DBRS Withdraws Provisional Ratings on Master Asset Vehicle 1 and Master Asset Vehicle 2

DBRS has today withdrawn the provisional ratings of the Master Asset Vehicle 1 Class A-1 and A-2 Notes, (the MAV1 Notes) and the Master Asset Vehicle 2 Class A-1 and A-2 Notes, (the MAV2 Notes, collectively with the MAV1 Notes, the Notes).

On April 24, 2008, DBRS published provisional ratings on the Notes. Provisional ratings are indicative credit opinions based on information received by DBRS at a point in time and may change when ratings are finalized or be withdrawn at any time.

On December 11, the Pan-Canadian Investors Committee, the group spear-heading the restructuring of Canadian third-party asset-backed commercial paper (ABCP), announced that an agreement in principle had been reached among various key participants in the ABCP restructuring.

In assigning provisional ratings to the Notes on April 24, 2008, DBRS relied on certain assumptions regarding the structure and asset composition of the Notes. Certain of these assumptions are now understood to be different from those in place when DBRS provided its provisional rating. Therefore, DBRS has today withdrawn its provisional rating of the Notes.

The withdrawal of the provisional ratings will not prejudice future ratings DBRS may assign to the Notes. DBRS intends to provide final ratings in accordance with its ratings methodologies and as requested by the Pan-Canadian Investors Committee. Until such time, there can be no assurance that the previously assigned provisional ratings will be reinstated at a future date.

For more information on developments in the Canadian ABCP market since August 2007, please see www.dbrs.com.

Notes:
All figures are in Canadian dollars unless otherwise noted.
The applicable methodology is Rating Canadian Structured Credit Transactions, which can be found on our website under Methodologies.
This is a Structured Finance rating.