Exhibit 99.1
July 6, 2005
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549-7561
Gentlemen:
We have read Item 4.01 of Form 8-K/A dated July 6, 2005, of Security Capital Corporation and are in agreement with the statements contained in paragraphs one and three on page 2 therein. We have no basis to agree or disagree with other statements of the registrant contained therein.
Regarding the registrant’s statement concerning our communication to the Company of a material weakness in the Company’s internal controls over financial reporting and the year-end close process, included in the first paragraph on page 2 therein, we had considered such matter in determining the nature, timing and extent of procedures performed in our audit of the registrant’s 2004 financial statements.
| /s/ Ernst & Young LLP |
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