DBRS Confirms Ratings on Series A Notes of FONCAIXA EMPRESAS 3, F.T.A.

DBRS Ratings Limited (“DBRS”) has today confirmed the following ratings to the Notes issued by FONCAIXA EMPRESAS 3, F.T.A. (the “Issuer”):

• EUR 300.00 million Series A1: AAA (sf)
• EUR 820.00 million Series A2: AAA (sf)

The ratings of the Series A1 and Series A2 Notes address the timely payment of interest and principal payable on each Payment Date during the transaction.

The principal methodology is Master European Granular Corporate Securitisations (SME CLOs), which can be found on our website (www.dbrs.com) under Methodologies.

The sources of information used for this rating include the parties involved in the rating, including but not limited to La Caixa, CaixaBank, GestiCaixa, and Foncaixa Empresas 3, F.T.A. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

For additional information on DBRS European SME CLO(s), please see European Disclosure Requirements, located at www.dbrs.com/research/235269.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.

Lead Analyst: Simon Ross
Surveillance Analyst: Alfonso Candelas
Rating Committee Chair: Jerry van Koolbergen
Initial Rating Date: 25 March 2011

Note:
All figures are in Euros unless otherwise noted.