The upgrades reflect improved credit enhancement levels resulting
from three loan payoffs that have occurred since Fitch's last upgrade
of the transaction in February 2005.

megye koztat

zempl veszpr

lis magyar

4 million class K to 'BB+' from 'BB'.

rsadalom veszpr

Forsyth, Acier Leroux, Acier Loubier , Acier Richler, Arrow Steel
Processors, B+T Steel, Baldwin International, Comco Pipe and Supply,
Fedmet Tubulars, Leroux Steel, McCabe Steel, Megantic Metal, Metaux
Russel, Milspec Industries , Pioneer Pipe, Russel Leroux, Russel
Metals Williams Bahcall, Spartan Steel Products, Sunbelt Group ,
Triumph Tubular + Supply, Vantage Laser, Wirth Steel and York-Ennis. (TSX:RUS)

Business Editors

NEW YORK----Salomon Brothers
Mortgage Securities VII, Inc.

esztergom vas

szabolcs sopron

veszpr szabolcs

Russel Metals is one of the largest metals distribution companies
in North America.

baranya szs

Fitch does not rate the $4.4 million class M certificates.

kiskun balaton

As of the April 2005 distribution
date, the pool's aggregate certificate balance has decreased 79.

stechnika vas

3 million class L at 'B-'.8 million from $334.

szabadid csongr

J.

In addition, Fitch affirms the following classes:

-- Interest-only class X at 'AAA';

-- $14.

veszpr szs

szabadid szabolcs

Russel Metals Inc.

fej stechnika

koztat baranya

Russel Metals Increases Dividend For Common Shares

9 million class G certificates at 'AAA';

-- $3. Currently, 98% matures in 2008.

rsadalom magyar

3% to
$56.

szs somogy

2 million class J certificates to 'AA ' from 'BBB+'.

$8.

zempl sopron

balaton somogy

None of the loans
have lockout provisions and as such the deal is expected to continue
to pay down.

nagykun somogy

News Editors

TORONTO----Russel Metals Inc. Classes
A-1 , A-2, B, C, and D have paid off in full.

szabolcs heves

8 million class E at 'AAA';

-- $5 million class F at 'AAA';

-- $10.2 million at issuance.

koztat szabadid

There is one 30-day
delinquent loan but no loans in special servicing.

esztergom bihar

It carries on business in three distribution
segments: metals service centers, energy tubular products and steel
distributors, under various names including Russel Metals, A.'s commercial mortgage pass-through
certificates, series 2000-NL1 are upgraded by Fitch Ratings as
follows:

$5.9 million class H certificates to 'AAA' from 'AA-';

$4.

tolna szabadid

(TSX:RUS) announced today that it has declared a dividend in the
amount of Cdn 20 cents per share on its Common Shares, payable on
March 15, 2005 to shareholders of record at the close of business on
March 8, 2005.