PreTSL IX is a collateralized debt obligation (CDO), which closed
March 26, 2003.
Additional deal information and historical data are available on the
Fitch Ratings web site at 'www.

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PreTSL IX is a static pool composed primarily of bank
and thrift trust preferred securities.

Clear Thinking Group Now Offers Pre-Funding Field Examination Services For Asset-Based Lenders And Private Equity Firms

The field examination represents an expansion of the strategic and
operational due diligence services that the firm has offered to asset-based
lenders and private equity firms for the past three years, according to Lee A. Moreover, our
recommendations for operational improvements provide added value to our
clients and the companies they are funding .J.com.

Skiptracing firms perform this process for a variety of clients such as creditors, insurance companies, and government entities and a variety of reasons including debt collection, bounty hunting , and witness locating.

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HILLSBOROUGH, N. For further information, visit the
firm's website at http: //www.

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The senior overcollateralization (OC) ratio is currently at 158. For more information
on Fitch's approach to rating CDOs of trust preferred securities, see
the special report, 'Rating Criteria for U.

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16% of the initial portfolio have been acquired by separate
institutions since the close.

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2 , 2005 and also available at
'www. The national advisory organization specializes in
assisting small- to mid-sized companies during times of growth, opportunity,
strategic change, acquisition , and crisis.clearthinkinggrp.

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Diercks, Clear
Thinking Group, LLC, 401 Towne Center Drive, Hillsborough , N.

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"
For additional information on the program, contact Lee A.

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The two remaining banks that
were acquired were purchased by institutions not previously included
in the portfolio, allowing their obligor exposure to remain unchanged. Clear Thinking Group's comprehensive
examination now probes financial and accounting issues while also assessing
the management, manufacturing, marketing and other operational practices of
companies applying for funding.

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The term 'skiptrace' is not usually used for general searches for adoptees or birth parents, missing loved ones, or lost friends.

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Fitch will continue to
monitor and review this transaction for future rating adjustments. The program additionally includes written
recommendations for improvement in each of the areas evaluated. "With prior
experience as senior managers at retailing , manufacturing and distribution
concerns, our team brings to the table both the financial acumen and
operational expertise necessary to assist lenders or equity firms.

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These affirmations are the result of Fitch's review
process and are effective immediately:

$245,000,000 senior A-1 notes at 'AAA';

$42,000,000 senior A-2 notes at 'AAA';

$33,000,000 senior A-3 notes at 'AAA ';

$86,000,000 mezzanine B-1 notes at 'A';

$16,250,000 mezzanine B-2 notes at 'A';

$66,250,000 mezzanine B-3 notes at 'A'.

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Fitch Ratings Affirms Preferred Term Securities IX Ltd.

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heirs beneficiaries

Included in this review, Fitch
performed a full analysis of the collateral included in the portfolio. To date, there have been no obligors
that have deferred interest payments at any time.6%,
and is in compliance with its performance trigger of 128%.

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fitchratings. Bank and Insurance Trust
Preferred CDOs' dated Feb.

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"Many of our clients had expressed concern that
traditional field examinations by other entities, such as accounting firms and
financial consultants, lacked the proper depth," he explained.

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Since closing, the collateral has continued to perform, with a
slight improvement in the weighted average bank score as determined by
the Fitch Bank Scoring Model.J.

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Diercks , who heads up the firm's Turnaround Management/Financial Services
Practice Group, said the pre-funding field examination services were added in
response to client feedback.

adoptees collateral

, Clear Thinking Group, LLC , a
retail/consumer products manufacturing consultancy headquartered here, has
announced that its Turnaround Management/Financial Services Practice Group is
now offering pre-funding field examination services to asset-based lenders and
private equity firms.
"This combination of skill sets ," Diercks continued, "allows us to
thoroughly understand the business systems and processes that monitor and
provide information on assets, collateral, business performance, cash flow,
and other critical factors that impact pre-funding decisions. (908)
431-2122; or ldiercks@clearthinkinggrp .

trace creditors

Diercks, partner and managing director.

About Clear Thinking Group
Clear Thinking Group, LLC, provides a wide range of strategic consulting
services to retail companies, consumer product manufacturers/distributors and
industrial companies.

creditors intell

As a result of this analysis, Fitch has determined that the
current ratings assigned to the senior and mezzanine notes still
reflect the current risk to noteholders.S.

creditors investigators

(PreTSL IX).

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Three institutions
totaling 5. One of the acquiring banks was included
in the initial portfolio, but its increased obligor exposure following
the purchase is within Fitch guidelines.com'.fitchratings. 08844.com.

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Business Editors

NEW YORK----Fitch Ratings affirms
six classes of notes issued by Preferred Term Securities IX, Ltd.