MARS 2600 S.r.L.

This will be the third residential mortgage securitisation from Banca Sella, the independent Italian
bank founded in 1886 and providing all-round services that include savings management, common
funds and Sicavs, insurance products, leasing, trusteeship services, payment, corporate finance
and personal credit services. The Group also comprises companies in Ireland and the USA, as
well as India and Romania.

The Portfolio comprises of 2.786 debt obligations to 2,768 debtors governed by Italian law and
arising out of residential mortgage loans and land mortgage loans , all of which are classified as
performing by Banca Sella. All the loans are indexed to either 1mnth or 3mnth Euribor, and none
have never had late payments of more than fifteen days. No loans are to corporates or partner-
ships, but to individuals, and all are resident in Italy at the time of subscription of the loan agreement.

The average outstanding principal is Eur78,313 and the largest loan just Eur425,140. The WA
current LTV is 50.71% (original LTV 58.16%), with WA seasoning of 2.48yrs. Over 92% of the
loans are to individuals in Northern Italy. Southern Italian exposure is under 1%.


Compare/contrast: MARS 2600, Eurohome (Italy) Mortgages S.R.L, Siena Mortgages 07-5 S.r.l
.MARS 2600 S.r.L.Eurohome (Italy) Mortgages S.R.LSiena Mortgages 07-5 S.r.l.