NYLIM Flatiron CLO 2003-1

NYLIM Flatiron 2003-1, Ltd. a limited liability Cayman Islands entity, issued securities (notes and preferred shares) secured primarily by a portfolio of leveraged loans.

Closing Date: July 2003
Stated Maturity: July 2015
Reinvestment Period Ends: July 2008
Assets: Leveraged Loans
Management Strategy

Below is a breakdown of the capital structure at original issuance:

Security Issued	Moody's/S&P Ratings¹	Amount of Issuance (in millions)	Coupon/Spread
Class A-1	Aaa/AAA	$228.75	LIBOR + 0.55%
Class A-2	Aaa/AAA	$25.00	4.20%
Class B	Aa2/AA	$17.50	LIBOR + 0.90%
Class C	A1/A+	$17.50	LIBOR + 1.65%
Class D-1	Baa2/BBB	$12.50	LIBOR + 3.20%
Class D-2	Baa2/BBB	$12.00	7.19%
Preference Shares	N/A	$36.75	Excess spread
	Total:	$350.0

1. Original ratings at issuance. Ratings may change and tranche ratings may be different. A credit rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time by the assigning rating agency.

The information contained herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. If any offer of securities is made, it shall be made pursuant to a definitive offering circular prepared by or on behalf of a specific issuer which would contain material information not contained herein.