| October, 2004 |
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| Has purchased the "B" piece tranche of the BACM 2004 - 5 pool of commercial mortgage-backed securities (secured by U.S. mortgages), including loans originated by Bank of America, GE Capital and Deutsche Bank with an aggregate face value of: |
| $230,739,000 |
| The undersigned served as underwriter and financial advisor to Lennar Partners: |
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| 9535 Lake Serena Drive, Suite 100 Boca Raton, Florida 33496 tel 561.477.6577 fax 561.477.3277 e-mail jwiberg@TriodeRA.com |
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