Released on = June 19, 2007, 3:16 pm

Press Release Author = Michael Blackburn/ Perfect Home Living

Industry = Financial

Press Release Summary = Key derivative index for Sub-prime bonds hits record low.

Press Release Body = Salt Lake City, UT / Press Release / -- Like a dormant volcano
that suddenly spews ash and lava the loosely regulated sub-prime mortgage market is
a sleepy giant no more. Late last week the U.S. sub-prime lending market which has
been forecasted by some as in recovery stages proved once more that the depth and
scope of damage caused by sub-prime lending has yet to be truly realized.

Joe Astornia, director of the securitization research at Barclays Capital, said
\"People are really trying to digest last week\'s news and there was certainly plenty
of it to go around, whether it was the Mortgage Bankers\' Association data or the
Moody\'s downgrades.\"

MBA\'s data last week showed that a record number of borrowers were set to lose their
the homes to foreclosure while delinquency rates for sub-prime home loans roared
from 11.5 per cent to 13.8 percent.

In a further drift from main stream thinking, this past Friday, rating agency
Moody\'s cut the ratings of 131 bonds backed by sub-prime home loans stating reasons
such as high levels of defaults and late payments on underlying mortgages. In
addition to the downgrades Moody\'s has already made, the ratings agency is currently
reviewing 247 bonds including 111 of the bonds it had just downgraded.

The negative headlines of Moody\'s sub-prime mortgage-backed bonds downgrade rifled
through the markets as the ABX derivative index, which tracks sub

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Contact Details = Perfect Home Living INC
1905 West 4700 South #353
Salt Lake City, UT 84118
Tel: 801.502.2508
Fax: 801.528.3321
Email: Media@PerfectHomeLiving.com