LEHMAN BROTHERS
Securities Offered:
To Maturity:
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Approx. Estimated Estimated Expected Stated Expected
Approx. Expected WAL/MDUR Principal Final Final Ratings
Securities Size Benchmark Price (yrs) Pmt. Window Maturity Maturity (Moody's/S&P)
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Class A-1(1) $67,494,000 1 Yr Tsy 99.999% 1.08/1.00 27 months 11/25/98 11/25/09 Aaa/AAA
Class A-2(1) $34,672,000 3 Yr Tsy 100.000% 3.08/2.68 23 months 9/25/00 5/25/11 Aaa/AAA
Class A-3(1) $25,859,000 5 Yr Tsy 99.974% 5.15/4.15 29 months 1/25/03 5/25/11 Aaa/AAA
Class A-4(1) $11,764,000 7 Yr Tsy 99.983% 7.30/5.43 24 months 12/25/04 10/25/13 Aaa/AAA
Class A-5(1) $17,459,000 10 Yr Tsy 99.995% 11.19/7.19 102 months 5/25/13 9/25/27 Aaa/AAA
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To 5% Call:
- -------------------------------------------------------------------------------------------------------------------------------
Approx. Estimated Estimated Expected Stated Expected
Approx. Expected WAL/MDUR Principal Final Final Ratings
Securities Size Benchmark Price (yrs) Pmt. Window Maturity Maturity (Moody's/S&P)
- -------------------------------------------------------------------------------------------------------------------------------
Class A-1(1) $67,494,000 1 Yr Tsy 99.999% 1.08/1.00 27 months 11/25/98 11/25/09 Aaa/AAA
Class A-2(1) $34,672,000 3 Yr Tsy 100.000% 3.08/2.68 23 months 9/25/00 5/25/11 Aaa/AAA
Class A-3(1) $25,859,000 5 Yr Tsy 99.974% 5.15/4.15 29 months 1/25/03 5/25/11 Aaa/AAA
Class A-4(1) $11,764,000 7 Yr Tsy 99.983% 7.30/5.43 24 months 12/25/04 10/25/13 Aaa/AAA
Class A-5(1) $17,459,000 10 Yr Tsy 99.995% 10.33/6.87 37 months 12/25/07 9/25/27 Aaa/AAA
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(1) Prepayments are sized at 105% of the prepayment assumption. A 100%
prepayment assumption assumes that prepayments start at 4% CPR in month one,
increase by 1.455% each month to 20% CPR by month 12, and remain at 20% CPR
thereafter.
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This information does not constitute either an offer to sell or a solicitation
of an offer to buy any of the securities referred to herein. Offers to sell and
solicitations of offers to buy the securities are made only by , and this
information must be read in conjunction with, the final Prospectus Supplement
and the related Prospectus or, if not registered under the securities laws, the
final Offering Memorandum (the "Offering Document"). Information contained
herein does not purport to complete and is subject to the same qualifications
and assumptions, and should be considered by investors only in the light of the
same warnings, lack of assurances and representations and other precautionary
matters, as disclosed in the Offering Document. Information regarding the
underlying assets has been provided by the issuer of the securities or an
affiliate thereof and has not been independently verified by Lehman Brothers
Inc. or any affiliate. The analyses contained herein have been prepared on the
basis of certain assumptions (including, in certain cases, assumptions specified
by the recipient hereof) regarding payments, interest rates, losses and other
matters, including, but not limited to, the assumptions described in the
Offering Document. Lehman Brothers Inc., and any of its affiliates, make no
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. This
information supersedes any prior versions hereof and will be deemed to be
superseded by any subsequent versions (including, with respect to any
description of the securities or underlying assets, the information contained in
the Offering Document).