(rated 'AAA').

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The affirmations reflect credit enhancement consistent with future
loss expectations and affect approximately $1.
The negative rating actions, which affect $526.

Long Beach Mortgage Loan Trust, series 2002-1 Group 2

-- Class II-M1 affirmed at 'AA';

-- Class II-M2 affirmed at 'A';

-- Class II-M3 downgraded to 'BB' from 'BBB';

-- Class II-M4 downgraded to 'B' from 'BB+'. The
mortgage loans consist of fixed- and adjustable-rate subprime mortgage
loans and are secured by first- and second-lien mortgages or deeds of
trust on residential properties.

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In addition to
the number of classes affected in the headline, the release contains
amended ratings on classes II-M2 and II-M3 in series 2001-4 Group 2,
class I-M3 in series 2002-1 Group 1, and classes I-M3, I-M4A and I-M4B
in series 2002-2 Group 1.
Fitch will continue to closely monitor these transactions .

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Correction: Fitch Lowers 26 + Affirms 40 RMBS Classes from 11 Long Beach Issues

Business Editors

NEW YORK----(This is a revised
version of a press release that was issued on May 20 .

Long Beach Mortgage Loan Trust, series 2001-1

-- Class A-1 affirmed at 'AAA';

-- Class M-1 downgraded to 'A' from 'AA';

-- Class M-2 downgraded to 'B+' from 'BBB';

-- Class M-3 downgraded to 'C' from 'BB'.

Long Beach Mortgage Loan Trust, series 2002-4 Group 2

-- Class II-A affirmed at 'AAA';

-- Class II-S1 affirmed at 'AAA'.8 million of
outstanding certificates detailed above, are taken due to the
continued deterioration in the performance of the underlying
collateral.
Fitch will continue to closely monitor these transactions.

Long Beach Mortgage Loan Trust, series 2001-1

-- Class A-1 affirmed at 'AAA';

-- Class M -1 downgraded to 'A' from 'AA';

-- Class M-2 downgraded to 'B+' from 'BBB';

-- Class M-3 downgraded to 'C' from 'BB'.

Long Beach Mortgage Loan Trust, series 2001-4 Group 2

-- Class II-A1 affirmed at 'AAA';

-- Class II-A3 affirmed at 'AAA';

-- Class II-M1 affirmed at 'AA';

-- Class II-M2 affirmed at 'A';

-- Class II-M3 downgraded to 'B+' from 'BB -'.

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Long Beach Mortgage Loan Trust, series 2002-2 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I-S1 affirmed at 'AAA';

-- Class I-M2 affirmed at 'A';

-- Class I-M3 downgraded to 'BBB-' from 'BBB';

-- Class I-M4A downgraded to 'B' from 'BBB-';

-- Class I-M4B downgraded to 'B' from 'BBB-'.49 billion of
outstanding certificates detailed above.

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Asset-Backed Securities Corporation, (Long Beach Home Equity Loan
Trust), series 2000-LB1 Group 2

-- Class M2V affirmed at 'BBB';

-- Class BV downgraded to 'C' from 'BB-'.

Long Beach Mortgage Loan Trust, series 2002-5

-- Class A-1 affirmed at 'AAA ';

-- Class S-1 affirmed at 'AAA';

-- Class A-2 affirmed at 'AAA';

-- Class S -2 affirmed at 'AAA';

-- Class M-1 affirmed at 'AA';

-- Class M-2 affirmed at 'A';

-- Class M-3 affirmed at 'BBB';

-- Class M-4A affirmed at 'BBB-';

-- Class M-4B affirmed at 'BBB-'.49 billion of
outstanding certificates detailed above.fitchratings.

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Long Beach Mortgage Loan Trust, series 2000-1

-- Class AF-3 affirmed at 'AAA';

-- Class AF-4 affirmed at 'AAA';

-- Class AV-1 affirmed at 'AAA';

-- Class M-1 affirmed at 'AA';

-- Class M-2 downgraded to 'BB-' from 'BBB-';

-- Class M-3 downgraded to 'C' from 'CCC'.
The affirmations on classes II-A and II-S1 in series 2002-3, and
classes II-A and II-S1 in series 2002-4, reflect a guaranty provided
by XL Capital Assurance Inc.

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Long Beach Mortgage Loan Trust, series 2001-4 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I -M2 downgraded to 'BBB-' from 'A-';

-- Class I-M3 downgraded to 'C' from 'B+'.8 million of
outstanding certificates detailed above, are taken due to the
continued deterioration in the performance of the underlying
collateral.

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Long Beach Mortgage Loan Trust, series 2001-2

-- Class A-1V affirmed at 'AAA';

-- Class M-1 downgraded to 'A' from 'AA';

-- Class M-2 downgraded to 'BB' from 'BBB';

-- Class M-3 downgraded to 'C' from 'B'.

Long Beach Mortgage Loan Trust , series 2001-2

-- Class A-1V affirmed at 'AAA';

-- Class M-1 downgraded to 'A' from 'AA';

-- Class M-2 downgraded to 'BB' from 'BBB';

-- Class M-3 downgraded to 'C' from 'B'.

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Long Beach Mortgage Loan Trust, series 2002-2 Group 2

-- Class II-A affirmed at 'AAA';

-- Class II-S1 affirmed at 'AAA';

-- Class II-M1 affirmed at 'AA';

-- Class II-M2 affirmed at 'A';

-- Class II-M3 downgraded to 'BBB-' from 'BBB';

-- Class II-M4A downgraded to 'B' from 'BBB-';

-- Class II-M4B downgraded to 'B' from 'BBB-'. The
mortgage loans consist of fixed- and adjustable-rate subprime mortgage
loans and are secured by first- and second-lien mortgages or deeds of
trust on residential properties. Further
information regarding current delinquency, loss, and credit
enhancement statistics is available on the Fitch Ratings website at
www.

Long Beach Mortgage Loan Trust, series 2002-3 Group 2

-- Class II-A affirmed at 'AAA';

-- Class II-S1 affirmed at 'AAA'.
The affirmations on classes II-A and II-S1 in series 2002-3, and
classes II-A and II-S1 in series 2002-4, reflect a guaranty provided
by XL Capital Assurance Inc.

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Long Beach Mortgage Loan Trust, series 2001-3

-- Class A-1 affirmed at 'AAA';

-- Class A-2 affirmed at 'AAA';

-- Class M-1 affirmed at 'AA';

-- Class M-2 downgraded to 'BBB-' from 'BBB+';

-- Class M-3 downgraded to 'C' from 'B'.

Long Beach Mortgage Loan Trust, series 2002-1 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I-M2 affirmed at 'A';

-- Class I-M3 affirmed at 'BBB'.

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Long Beach Mortgage Loan Trust, series 2002-5

-- Class A-1 affirmed at 'AAA';

-- Class S-1 affirmed at 'AAA';

-- Class A-2 affirmed at 'AAA';

-- Class S-2 affirmed at 'AAA';

-- Class M-1 affirmed at 'AA';

-- Class M-2 affirmed at 'A';

-- Class M-3 affirmed at 'BBB';

-- Class M-4A affirmed at 'BBB-';

-- Class M-4B affirmed at 'BBB-'.

Fitch Lowers 23 + Affirms 43 RMBS Classes from 11 Long Beach Issues

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)
Fitch Ratings has taken the following rating actions on Long Beach
residential mortgage-backed issues listed below:
Asset-Backed Securities Corporation (Long Beach Home Equity Loan
Trust), series 2000-LB1 Group 1

Class AF5 affirmed at 'AAA';

Class AF6 affirmed at 'AAA';

Class M1F downgraded to 'BBB+' from 'AA';

Class M2F downgraded to 'B' from 'BBB-';

Class BF remains at 'C'.

Long Beach Mortgage Loan Trust, series 2001 -4 Group 2

-- Class II-A1 affirmed at 'AAA';

-- Class II-A3 affirmed at 'AAA';

-- Class II-M1 affirmed at 'AA';

-- Class II-M2 downgraded to 'BBB-' from 'A';

-- Class II-M3 downgraded to 'C' from 'BB-'.
The negative rating actions, which affect $526.

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Business Editors

NEW YORK----Fitch Ratings has taken
the following rating actions on Long Beach residential mortgage-backed
issues listed below:

Asset-Backed Securities Corporation (Long Beach Home Equity Loan
Trust), series 2000-LB1 Group 1

Class AF5 affirmed at 'AAA';

Class AF6 affirmed at 'AAA';

Class M1F downgraded to 'BBB+' from 'AA';

Class M2F downgraded to 'B' from 'BBB-';

Class BF remains at 'C'.

Long Beach Mortgage Loan Trust, series 2002-4 Group 2

-- Class II-A affirmed at 'AAA';

-- Class II-S1 affirmed at 'AAA'.

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Long Beach Mortgage Loan Trust, series 2001-3

-- Class A-1 affirmed at 'AAA';

-- Class A-2 affirmed at 'AAA';

-- Class M-1 affirmed at 'AA';

-- Class M-2 downgraded to 'BBB-' from 'BBB+';

-- Class M-3 downgraded to 'C' from 'B'.

All of the mortgage loans in the aforementioned transactions were
either originated or acquired by Long Beach Mortgage Company.

All of the mortgage loans in the aforementioned transactions were
either originated or acquired by Long Beach Mortgage Company.

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As of the April 2005 distribution
date, the transactions are seasoned from a range of 29 to 56 months,
and the pool factors (current mortgage loan principal outstanding as a
percentage of the initial pool) range from approximately 10% (series
2000-LB1 Group 2) to 26% (series 2002-5 ). The affirmations on class A-1 in series
2001-3, class I-A in series 2001-4, class I-A in series 2002-1,
classes I-A and I-S1 in series 2002-2, and classes A-1 and S-1 in
series 2002-5 reflect a guaranty provided by Fannie Mae (rated 'AAA'). In the eight transactions that experience downgrade
actions, the high level of losses incurred has led to substantial and
rapid decline in credit enhancement (CE), particularly in the form of
overcollateralization (OC). In the most severe examples (series
2000-LB1 Group 1 and series 2001-2), OC has been exhausted and the
most subordinate certificates have suffered principal write-downs.

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Long Beach Mortgage Loan Trust, series 2002-1 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I-M2 affirmed at 'A';

-- Class I-M3 downgraded to 'BB' from 'BBB'.

Long Beach Mortgage Loan Trust, series 2002-1 Group 2

-- Class II -M1 affirmed at 'AA';

-- Class II-M2 affirmed at 'A';

-- Class II-M3 downgraded to 'BB ' from 'BBB';

-- Class II-M4 downgraded to 'B' from 'BB+'. In addition, the affirmation
on class A-1V in series 2001-2 reflects a guaranty provided by Freddie
Mac (rated 'AAA' by Fitch).

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com

Long Beach Mortgage Loan Trust, series 2002-2 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I-S1 affirmed at 'AAA';

-- Class I-M2 affirmed at 'A';

-- Class I-M3 affirmed at 'BBB';

-- Class I-M4A downgraded to 'B+' from 'BBB-';

-- Class I-M4B downgraded to 'B+' from 'BBB-'. As of the April 2005 distribution
date, the transactions are seasoned from a range of 29 to 56 months,
and the pool factors (current mortgage loan principal outstanding as a
percentage of the initial pool) range from approximately 10% (series
2000-LB1 Group 2) to 26% (series 2002-5).
The affirmations reflect credit enhancement consistent with future
loss expectations and affect approximately $1. In addition, the affirmation
on class A-1V in series 2001-2 reflects a guaranty provided by Freddie
Mac (rated 'AAA' by Fitch).

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In the most severe examples (series
2000 -LB1 Group 1 and series 2001-2), OC has been exhausted and the
most subordinate certificates have suffered principal write-downs.

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In the eight transactions that experience downgrade
actions, the high level of losses incurred has led to substantial and
rapid decline in credit enhancement (CE ), particularly in the form of
overcollateralization (OC).

Asset-Backed Securities Corporation , (Long Beach Home Equity Loan
Trust), series 2000-LB1 Group 2

-- Class M2V affirmed at 'BBB ';

-- Class BV downgraded to 'C' from 'BB-'.

Long Beach Mortgage Loan Trust, series 2001 -4 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I-M2 downgraded to 'BBB-' from 'A -';

-- Class I-M3 downgraded to 'C' from 'B+'. (rated 'AAA'). Further
information regarding current delinquency, loss, and credit
enhancement statistics is available on the Fitch Ratings website at
www.

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Long Beach Mortgage Loan Trust, series 2002-3 Group 2

-- Class II-A affirmed at 'AAA';

-- Class II-S1 affirmed at 'AAA'.

Long Beach Mortgage Loan Trust, series 2002 -2 Group 2

-- Class II-A affirmed at 'AAA';

-- Class II-S1 affirmed at 'AAA';

-- Class II-M1 affirmed at 'AA';

-- Class II-M2 affirmed at 'A';

-- Class II-M3 downgraded to 'BBB-' from 'BBB';

-- Class II-M4A downgraded to 'B' from 'BBB-';

-- Class II-M4B downgraded to 'B' from 'BBB-'. The affirmations on class A-1 in series
2001-3, class I-A in series 2001-4, class I-A in series 2002-1,
classes I-A and I-S1 in series 2002-2, and classes A-1 and S -1 in
series 2002-5 reflect a guaranty provided by Fannie Mae (rated 'AAA').