Fitch Teleconference Today: Global Credit Derivatives Survey, 10:00 a.m

Business Wire, March 13, 2003

Business Editors

NEW YORK--(BUSINESS WIRE)--March 13, 2003

Fitch Ratings will hold a teleconference today at 10:00 a.m. Eastern Standard Time (EST) to discuss its preliminary results of the first-ever survey encompassing the credit derivative market. Chief Credit Officer Robert Grossman will be the call leader, and will be joined by Fitch Managing Directors Roger Merritt and Charles Prescott. A question and answer session will immediately follow.

Fitch surveyed approximately 200 global banks, insurance companies, reinsurers, financial guarantors and broker-dealers, focusing primarily on those 'selling protection' through credit derivatives and collateralized debt obligations (CDOs). To date, 147 companies have responded and $1.3 trillion of the estimated $2 trillion market has been identified.

Participants in the U.S. and Canada should call 1-877-897-0442, while international participants should call 1-706-643-7396 . All callers should dial in five minutes prior to the scheduled time and reference ' Fitch Ratings' with the operator.

A replay of the teleconference will be available until March 16 by dialing 1-800-642-1687 in the U.S. and Canada, 1-706-645-9291 if calling from outside the U.S. and Canada. All callers seeking the replay should quote the access number '1108925'.