INFORMATION RELEASE IN RELATION TO

Monastery 2004-I B.V.

Monastery 2006-I B.V.

Chapel 2003-I B.V.

Chapel 2007 B.V.

1.      RECENT EVENTS

On 12 October 2009 the Amsterdam court has imposed emergency regulations upon DSB BANK N.V. (“DSB”). One of the consequences hereof is the appointment by the same court of administrators (the “Administrators”).

On 19 October 2009 DSB has been declared bankrupt by the Alkmaar court, location Amsterdam. The Administrators have been appointed as bankruptcy trustees (the “Bankruptcy Trustees”).

2.      CERTAIN IMPLICATIONS FOR THE ABOVE-MENTIONED TRANSACTIONS

The emergency regulations and subsequent bankruptcy becoming applicable to DSB in the respective securitisation transactions has amongst others the following implications for the respective securitisation transactions:

a.       Potential impairment of (timely) transfer of the cash flows to each of the securitisation entities (the “SPV’s”);

b.       A borrower notification event has occurred;

c.       A termination event has occurred in relation to the receivables portfolio servicing agreements.

3.      CASH FLOWS

Payments due by borrowers under their (mortgage-)loans were being made into a DSB-held bank accounts, either through direct debit or by a transfer initiated by the respective borrower. Usually, these direct debit runs are carried out per the end of each calendar month.

Any payments to be received into DSB-held bank accounts as from the date on which the emergency regulation became applicable to DSB, will fall in the DSB estate, albeit that the respective SPV’s have a preferential claim on these payments.

The respective SPV’s have reached agreement with the Bankruptcy Trustees that all payments received in such DSB-held bank accounts as from and including 20 October 2009 and in relation to receivables sold to an SPV will be transferred to such SPV.

4.      BORROWER NOTIFICATIONS

Under the transaction documentation in connection with the issuance of notes by each SPV, upon the occurrence of certain events amongst which emergency regulations being imposed upon DSB, DSB is obliged to make certain notifications to the borrowers and the respective SPV's are also entitled to make such notifications (“Borrower Notifications”).

Borrower Notifications would, amongst others, contain instructions for the borrowers to make any payments in the future only to bank accounts held by the respective SPV's and any payments made to DSB would not discharge the borrowers from their obligation to pay to the SPV's.

Sending out the Borrower Notifications too hastily and without appropriate alternative account structures and direct debit authorisations being put in place, may lead to payment disruptions and disputes with borrowers

In order to avoid such payment disruptions and provided , amongst others, that DSB on-pays the received amounts to the SPV's as described above, Borrower Notifications will be sent when deemed appropriate.

5.      SERVICING

Due to the fact that a termination event has occurred, each of the SPV's is entitled, but not obliged, to terminate the servicing agreements with DSB in relation to certain administrative services carried out by the latter in relation to the portfolios of receivables.

In connection with, and upon the issuance of notes, each SPV has entered into a back-up servicing agreement with a back-up servicer. These agreements have a “cold” character, i.e. such back-up servicer does not have parallel systems running nor has access to necessary loan-by-loan data etc. Furthermore, the obligations of each back-up servicer is conditional upon several requirements being met, amongst which due diligence satisfactory to such back-up servicer.

Each of the SPV's has, in accordance with the relevant transaction documentation, notified the respective back-up servicer of the occurrence of a termination event under the servicing agreement. Furthermore, discussions have been entered into with these back-up servicers in relation to replacement of DSB as primary portfolio servicer.

We understand from the Bankruptcy Trustees that it strives to revive servicing and administration activities as soon as practically possible and the Bankruptcy Trustees have confirmed to continue providing these services to the SPV's on a best-efforts basis for the time being.

6.      PAYMENT DATES 19 OCTOBER 2009

The payment dates for Chapel 2007 B.V. and Convent 2008-I B.V. were scheduled for Monday 19 October 2009. These SPV's have complied with their respective payment obligations under the notes on this date.

7.      FURTHER INFORMATION

Further updated information will be released if and when developments give reason thereto in the opinion of the respective SPV.

For any further information, please contact securitisation@atccapitalmarkets.com or visit our website at www.atccapitalmarkets.com.

This statement contains non-legal summary interpretations of the offering cirulars in connection to issuances of notes by the respective legal entities and may not be relied upon. for more comprehensive descriptions, Reference is made to each such offering circular. IF NOTEHOLDERS ARE IN ANY DOUBT about legal issues or AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD SEEK THEIR OWN FINANCIAL, tax AND LEGAL ADVICE, IMMEDIATELY FROM THEIR STOCKBROKER, SOLICITOR, ACCOUNTANT OR OTHER INDEPENDENT FINANCIAL OR LEGAL ADVISER. This statement contains forward-looking statements which may or may not appear to become true and thus can not be relied upon.