EX-99.1 3 file002.txt RELATED COMPUTATIONAL MATERIALS EXHIBIT 99.1 $242,500,000 (APPROXIMATE) LONG BEACH ACCEPTANCE AUTO RECEIVABLES TRUST 2002-A CLASS A-1, CLASS A-2, CLASS A-3 AND CLASS A-4 LONG BEACH ACCEPTANCE CORP. ORIGINATOR AND SERVICER LONG BEACH ACCEPTANCE RECEIVABLES CORP. TRANSFEROR JULY 16, 2002 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- This information is furnished to you solely by Greenwich Capital Markets, Inc. and not by the Issuer of the securities or any of its affiliates. Greenwich Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the Issuer or its affiliates in connection with the proposed transaction. These Computational Materials are provided for information purposes only, and do not constitute an offer to sell, nor a solicitation of an offer to buy, the referenced securities. The Computational Materials do not purport to be all-inclusive or to contain all of the information that a prospective investor may require to make a full analysis of the transaction. All amounts are approximate and subject to change. The information contained herein supersedes information contained in any prior computational materials for this transaction. In addition, the information contained herein may be superseded by information contained in computational materials circulated after the date hereof and is qualified in its entirety by information contained in the Prospectus and Prospectus Supplement for this transaction. An offering may be made only through the delivery of the Prospectus and Prospectus Supplement, the Prospectus Supplement and the Prospectus are referred to herein as the "Prospectus". PRELIMINARY COMPUTATIONAL MATERIALS DATE PREPARED: JULY 16, 2002 Long Beach Acceptance Auto Receivables Trust 2002-A $250,000,000 (APPROXIMATE) $242,500,000 CLASS A NOTES (1) -------------------------------------------------------------------------------- (Note: These Computational Materials have been prepared to assist prospective investors in the Class A Notes only; references to the Class B Notes and the Certificate are provided solely for informational purposes.) --------------------------------------------------------------------------------
==================================================================================================================================== Class Class A-1 Notes Class A-2 Notes Class A-3 Notes Class A-4 Notes Class B Notes ==================================================================================================================================== Principal Amount(1) $35,500,000 $75,000,000 $58,000,000 $74,000,000 $7,500,000 Class Percentage 14.20% 30.00% 23.20% 29.60% 3.00% Initial Credit Support(2) Policy issued by FSA Policy issued Policy Issued Policy Issued Class B Reserve by FSA by FSA by FSA Account Expected Rating P-1/A-1+ Aaa/AAA Aaa/AAA Aaa/AAA Ba3 (Moody's) (Moody's/S&P) Coupon Rate(3) TBD TBD TBD TBD TBD Statistical Pool APR 15.13% 15.13% 15.13% 15.13% 15.13% Originator/Servicer Long Beach Acceptance LBAC LBAC LBAC LBAC Corp. ("LBAC") Indenture Trustee/Back-up JP Morgan Chase ("Chase") Chase Chase Chase Chase Servicer/Collateral Agent/Trust Collateral Agent Owner Trustee Wilmington Trust Company Wilmington Wilmington Wilmington Wilmington ("Wilmington") Pricing Prepayment Speed 1.70% ABS 1.70% ABS 1.70% ABS 1.70% ABS NA Projected Weighted [0.27] Years [1.00] Years [2.00] Years [3.24] Years NA Average Life Pricing Benchmark 3 Month LIBOR EDSF Swaps Swaps NA Expected Issuance and August 15, 2002 August 15, 2002 August 15, 2002 August 15, 2002 August 15, 2002 Closing Date Payment Dates 15th day of each month 15th day of 15th day of 15th day of 15th day of each month each month each month each month Record Date Last day of the Accrual Last day of the Last day of Last day of Last day of the Period Accrual Period the Accrual the Accrual Accrual Period Period Period Interest Accrual & Delay Actual/360 - - 0 30/360 - - 0 30/360 - - 0 30/360 - - 0 30/360 - - 0 Days Final Scheduled Payment August 15, 2003 September 15, November 15, March 15, 2009 March 15, 2009 Date 2005 2006 ERISA Eligible Yes Yes Yes Yes NA ====================================================================================================================================
1. Subject to a variance of +/- 10%. 2. The Class A Notes have the benefit of (a) an insurance policy (the "Policy") issued by the Note Insurer which will guarantee Scheduled Payments of the Class A Notes, (b) funds, if any, on deposit from time to time in the Spread Account and (c) [3.0%] subordination evidenced by the Class B Notes. Payments to the Class A Noteholders on each Payment Date will be funded, first, from collections on the Receivables (including excess spread), second, from withdrawals from the Spread Account and third, from draws on the Policy. The issuer expects that excess spread, equivalent to the weighted average APR on the Receivables less the sum of the Servicing Fee, the Senior Strip, the Indenture Trustee, the Custodian and the Backup Servicer fees, the premium payable to FSA and the interest due on the Notes will be approximately [8.04%] per annum at the Cut-off Date. Excess spread over the life of the transaction is dependent upon the composition of the final pool, the actual prepayment, delinquency and default experience of the Receivables, changes in the Servicing Fee, as well as numerous other factors. As such, no assurance can be given as to such numbers' accuracy, continuance, or appropriateness or completeness in any particular context and as to whether such numbers and/or the assumptions upon which they are based reflect present market conditions or future market performance. 3. The coupon on the Class A Certificates will increase by 0.50% after the first date on which the Clean-up Call is exercisable. [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- THE TRUST: Long Beach Acceptance Auto Receivables Trust 2002-A (the "Trust") will be formed pursuant to a Trust Agreement between Long Beach Auto Receivables Corp. (the "Transferor"), a wholly-owned subsidiary of Long Beach Acceptance Corp. ("LBAC"), and Wilmington Trust Company (the "Owner Trustee"). PLEDGED PROPERTY: The property pledged by the Trust to the Indenture Trustee for the benefit of the Noteholders and the Note Insurer (the "Pledged Property") will include (i) a pool of retail installment sale contracts (the "Contracts") originated by LBAC (the "Receivables") secured by the new and used automobiles, vans, sport utility vehicles and light-duty trucks financed thereby (the "Financed Vehicles") aggregating approximately $250,000,000 in principal amount (the "Original Pool Balance") as of August 1, 2002 (the "Cut-off Date"); (ii) all moneys received on or after the Cut-off Date with respect to the Receivables; (iii) the security interests in the Financed Vehicles; (iv) any proceeds of any physical damage insurance policies covering Financed Vehicles and any proceeds of any credit life or credit disability insurance policies relating to the Receivables or the obligors; (v) any dealer recourse (exclusive of any dealer charge-back obligation); (vi) property (including the right to receive future Liquidation Proceeds) that shall have secured a Receivable and shall have been repossessed by or on behalf of the Trust; (vii) the legal files and receivable files related to the Receivables; (viii) the rights of the Trust under the Purchase Agreement; (ix) all Recoveries and Liquidation Proceeds with respect to the Receivables; (x) the limited guarantee of Ameriquest Mortgage Company ("AMC") (as described in the Prospectus); (xi) refunds for the costs of extended service contracts and of certain unearned premiums with respect to Financed Vehicles or Obligors; (xii) all other assets comprising the Trust, including, but not limited to, all funds on deposit from time to time in all accounts established, maintained and held as part of the Trust; (xiii) all amounts and property from time to time held in or credited to the Lock-Box Account (as described in the Prospectus); and (xiv) all proceeds of the foregoing. THE NOTES: The Trust will issue six classes of Asset-Backed Notes pursuant to an Indenture between the Trust and JP Morgan Chase, as Indenture Trustee, designated Class A-1 (the "Class A-1 Notes"), in an aggregate original principal amount of approximately $35,500,000, Class A-2 (the "Class A-2 Notes"), in an aggregate original principal amount of approximately $75,000,000, Class A-3 (the "Class A-3 Notes"), in an aggregate original principal amount of approximately $58,000,000, Class A-4 (the "Class A-4 Notes"), in an aggregate original principal amount of approximately $74,000,000 and Class B (the "Class B Notes"), in an aggregate original principal amount of approximately $7,500,000. The Class A-1, Class A-2, Class A-3 and Class A-4 Notes are collectively referred to herein as the "Class A Notes", and will be issued in an aggregate original principal amount of approximately $242,500,000, and the Class B Notes, together with the Class A Notes, are referred to herein as the "Notes". The Notes will be secured by the Pledged Property as and to the extent provided in the Indenture. The Trust will also issue a single certificate (the "Certificate") evidencing the right, subject to certain conditions described herein, to excess cash flow arising from the Receivables (as defined herein). The Certificate and the Notes are referred to herein collectively as the "Securities". Only the Class A Notes are being offered by the Prospectus. The aggregate original principal amount of the Class A-1 Notes will equal approximately 14.20% (the "Class A-1 Percentage") of the Original Pool Balance on the Closing Date. The aggregate original principal amount of the Class A-2 Notes will equal approximately 30.00% (the "Class A-2 Percentage") of the Original Pool Balance on the Closing Date. The aggregate original principal amount of the Class A-3 Notes will equal approximately 23.20% (the "Class A-3 Percentage") of the Original Pool Balance on the Closing Date. The aggregate original principal amount of the Class A-4 Notes will equal approximately 29.60% (the "Class A-4 2 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- Percentage") of the Original Pool Balance on the Closing Date. The aggregate original principal amount of the Class B Notes will equal 3.00% (the "Class B Percentage") of the Original Pool Balance on the Closing Date. Payments of interest on and principal of the Class B Notes will be subordinated in priority of payment to interest and principal due on the Class A Notes, payments to the Indenture Trustee, the Servicer, the Senior Strip (as defined herein) and the Note Insurer and, with respect to principal of the Class B Notes, the funding of the Spread Account and the Class B Reserve Account to their respective requisite amounts to the extent described in the Sale and Servicing Agreement; provided, however, that interest payments on the Class B Notes may be made using amounts from the Senior Strip and amounts, if any, on deposit in the Class B Reserve Account on each Payment Date and principal payments on the Class B Notes may be made using amounts, if any, released from the Class B Reserve Account on each Payment Date. Accordingly, except for amounts due to the Class B Notes from the Senior Strip and amounts, if any, on deposit in the Class B Reserve Account, the Class A Notes will generally receive as credit enhancement the benefit of amounts otherwise due on the Class B Notes. Class A Notes will be available in minimum denominations of $100,000 and integral multiples of $1,000 in excess thereof. THE CERTIFICATE: The Trust will issue the Certificate, which represents the equity ownership in the Trust and is subordinate in right of payment to the Notes to the extent described in the Sale and Servicing Agreement. The Certificate does not have a principal balance. The Certificate is not being offered by the Prospectus and will initially be held by the Transferor (the "Certificateholder"). THE POLICY: On the Closing Date, Financial Security Assurance Inc. (the "Note Insurer") will issue a financial guaranty insurance policy (the "Policy") to the Trust Collateral Agent for the benefit of the Class A Noteholders. Pursuant to the Policy, the Note Insurer will unconditionally and irrevocably guarantee to the Class A Noteholders payment of the Scheduled Payments (as defined below) on each Payment Date. The Note Insurer will also make payment of any unpaid interest and principal due on the Class A Notes on their respective Final Scheduled Payment Dates. The Policy is not covered by the property/casualty insurance security fund specified in Article 76 of the New York Insurance Law. "Scheduled Payments" means, with respect to each Payment Date, the payments to be made to the Class A Noteholders in an aggregate amount equal to the Class A Interest Payment Amount and the Class A Principal Payment Amount, each as due and payable on such Payment Date. Scheduled Payments shall not include, nor shall coverage be provided under the Policy in respect of, any taxes, withholding or other charge imposed with respect to any Class A Note by any governmental authority. The Policy is described in greater detail in the Prospectus. PAYMENTS TO NOTEHOLDERS: Payments of interest on the Notes, to the extent funds are available therefor, will be made on the 15th day of each month (or, if the 15th day is not a Business Day, the next succeeding Business Day) (each, a "Payment Date"), commencing September 16, 2002, in the following amounts: (i) With respect to the Class A-1 Notes, interest accrued at the Class A-1 Note Rate based on actual number of days elapsed in the applicable accrual period on the Class A-1 Note Balance and with respect to the Class A-2, Class A-3 and Class A-4 and the first Payment Date, 30 days of interest at Class A-2 Note Rate, Class A-3 Note Rate or Class A-4 Note Rate, as applicable, and with respect to all other Payment Dates, 30 days of interest, in each case on the Class A-2 Note Balance, Class A-3 Note Balance or Class A-4 Note Balance, as applicable, as of the close of business on the last day of the related Collection Period ("Class A Interest Payment Amount"); 3 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- (ii) With respect to the Class B Notes and the first Payment Date, 30 days of interest at the Class B Note Rate, and with respect to all other Payment Dates, 30 days of interest at the Class B Note Rate, in each case on the Class B Note Balance as of the close of business on the last day of the related Collection Period ("Class B Interest Payment Amount"). Payments of interest on a Class of Notes will be made on a pro rata basis to holders of record of such Class as of the last day of the related accrual period (each, a "Record Date"). The Record Date for the first Payment Date will be August 15, 2002. Accrued interest on the Class A-1 Notes will be calculated on an actual/360 basis and accrued interest on the Class A-2, Class A-3, Class A-4 and the Class B Notes will be calculated on a 30/360 basis. Payments of principal on or in respect of the Notes, to the extent funds are available therefor, will be distributed on each Payment Date (i) first to Class A-1 Noteholders until the outstanding principal amount of the Class A-1 Notes is zero, then to Class A-2 Noteholders until the outstanding principal amount of the Class A-2 Notes is zero, then to Class A-3 Noteholders until the outstanding principal amount of the Class A-3 Notes is zero, and then to Class A-4 Noteholders, until the outstanding principal amount of the Class A-4 Notes is zero, in an amount equal to the Class A Principal Payment Amount (as defined herein) and (ii) to the Class B Noteholders from amounts released from the Class B Reserve Account, until the outstanding principal amount of the Class B Notes is zero, in an amount equal to the Class B Principal Payment Amount (as defined herein). The "Principal Payment Amount" means (i) with respect to any Payment Date other than the respective Final Scheduled Payment Date, the sum of the following amounts (without duplication): (a) the principal portion of all payments received in respect of the Receivables (excluding Recoveries); (b) the principal portion of all prepayments in full received in respect of the Receivables during the related Collection Period, including prepayments in full resulting from collections with respect to a Receivable received during the related Collection Period; (c) the portion of the Purchase Amount allocable to principal of each Receivable that was repurchased by the Originator or purchased by the Servicer in each case as of the last day of the related Collection Period and, at the option of the Note Insurer, the Principal Balance of each Receivable that was required to be but was not so purchased or repurchased; (d) the principal balance of each Receivable that first became a Liquidated Receivable during the related Collection Period; and (e) the aggregate amount of Cram Down Losses with respect to the Receivables that have occurred during the related Collection Period, and (ii) with respect to the Final Scheduled Payment Date for a class, an amount equal to the greater of (a) the amount calculated in clause (i) above and (b) the then outstanding Class Note Balance for such class. The "Class A Principal Payment Amount" with respect to any Payment Date will be equal to the Class A Percentage of the Principal Payment Amount; provided, that on the Final Scheduled Payment Date for the Class A-4 Notes, the "Class A Principal Payment Amount" shall be the then outstanding Class A-4 Note Balance. 4 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- A "Liquidated Receivable" means any Receivable with respect to which any of the following shall have occurred (without duplication): (i) the Receivable has been liquidated by the Servicer through the sale of the related Financed Vehicle, (ii) the related Obligor has failed to pay at least 95% of a scheduled payment by its due date and such failure continues for 60 days (calculated based on a 360-day year consisting of twelve 30-day months) after the first day on which the Servicer may legally sell or otherwise dispose of the related Financed Vehicle following its repossession, (iii) the related Obligor fails to pay at least 95% of a scheduled payment by its due date and such failure continues for 150 or more consecutive days (calculated based on a 360-day year consisting of twelve 30-day months) as of the end of a Collection Period or (iv) proceeds have been received which, in the Servicer's good faith judgment, constitute the final amounts recoverable in respect of such Receivable. PRIORITY OF PAYMENTS: On each Payment Date, the Indenture Trustee shall, from the Available Funds, make the following Payments in the following order of priority: (i) first, to LBAC, the Monthly Dealer Participation Fee Payment Amount and all unpaid Monthly Dealer Participation Fee Payment Amounts from prior Collection Periods, second, to the Servicer, the Servicing Fee and all unpaid Servicing Fees from prior Collection Periods and, to the extent the Available Funds, except amounts relating to the Senior Strip, are insufficient to cover such amounts then such deficiency may be paid to the Servicer from the Deficiency Claim Amount (as defined herein) with respect to such Payment Date, if any, to the extent received by the Trust Collateral Agent from the Collateral Agent, and third, the Senior Strip pursuant to clauses (vi) and (viii) below until the outstanding principal amount of the Class B Notes are reduced to zero, and thereafter, to LBAC; (ii) to the Indenture Trustee, the Back-Up Servicer and the Custodian, the Indenture Trustee Fee, the Back-up Servicer Fee and the Custodian Fee, respectively, and all unpaid Indenture Trustee Fees, Back-up Servicer Fees and Custodian Fees from prior Collection Periods and, to the extent the remaining Available Funds are insufficient to cover such amounts then such deficiency may be paid from the Deficiency Claim Amount with respect to such Payment Date, if any, to the extent received by the Trust Collateral Agent from the Collateral Agent; (iii) to the Class A-1 Noteholders, Class A-2 Noteholders, Class A-3 Noteholders and Class A-4 Noteholders, pro rata based on the Note Interest due on each class of Class A Notes, the sum of the Class A Interest Payment Amount and any Class A Interest Carryover Shortfall and, to the extent the remaining Available Funds are insufficient to cover such amounts then such deficiency may be paid from the following sources in the following order of priority: (a) the remaining portion of the Deficiency Claim Amount with respect to such Payment Date, if any, to the extent received by the Trust Collateral Agent from the Collateral Agent, and (b) the Policy Claim Amount (as defined herein) with respect to such Payment Date; (iv) to the Class A Noteholders, the sum of the Class A Principal Payment Amount and any Class A Principal Carryover Shortfall and, to the extent the remaining Available Funds are insufficient, the Class A Noteholders will receive such deficiency from the following sources in the following order of priority: (a) the remaining portion of the Deficiency Claim Amount with respect to such Payment Date, if any, to the extent received by the Trust Collateral Agent from the Collateral Agent, and (b) the Policy Claim Amount with respect to such Payment Date, such principal being applied first to, to reduce the outstanding principal amount of the Class A-1 Notes to zero, second, to reduce the outstanding principal amount of the Class A-2 Notes to zero, third, to reduce the 5 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- outstanding principal amount of the Class A-3 Notes to zero, and last, to reduce the outstanding principal amount of the Class A-4 Notes to zero; (v) first, to the Note Insurer, an amount equal to the Reimbursement Obligations (as defined herein) (including the premium due to the Note Insurer) and second, to the Trust Collateral Agent, Indenture Trustee, Back-up Servicer and Custodian, all reasonable out-of pocket expenses incurred by the Trust Collateral Agent, Indenture Trustee, Back-up Servicer and Custodian (such amount generally not to exceed, in the aggregate, $50,000 per annum) and third, to the Back-up Servicer, system conversion expenses, if any, not to exceed $100,000; (vi) to the Class B Noteholders, the sum of the Class B Interest Payment Amount and any Class B Interest Carryover Shortfall; and, to the extent that funds are unavailable to pay such amounts, such shortfall will be drawn first from (a) the Senior Strip and second from (b) the Class B Reserve Account to the extent funds are available; (vii) to the Collateral Agent, for deposit to the Spread Account, all the remaining Available Funds; (viii) to the Collateral Agent, for deposit to the Class B Reserve Account, the remaining portion of the Senior Strip and all monies released from the Spread Account; (ix) from amounts released from the Class B Reserve Account on such Payment Date, if any, to the Class B Noteholders, to reduce the principal amount of the Class B Notes to zero; and (x) to the Certificateholder, any remaining releases from the Class B Reserve Account. EVENT OF DEFAULT: Events of default under the Indenture are described in the Prospectus. SPREAD ACCOUNT: As part of the consideration for the issuance of the Policy, a cash collateral account (the "Spread Account") will be established with the Collateral Agent for the benefit of the Note Insurer and the Trust Collateral Agent on behalf of the Class A Noteholders. Amounts on deposit in the Spread Account will be distributed to Class A Noteholders or released to the Class B Reserve Account to the extent described in the Prospectus. However, the Requisite Amount or the existence of the Spread Account or any other term or provision of the Spread Account Agreement may be amended, modified or terminated by the Note Insurer with the consent of the Transferor and the Collateral Agent, but without the consent of the Indenture Trustee or the Noteholders and without confirmation from Moody's that the rating of the Class B Notes will not be qualified, modified or withdrawn. Accordingly, Noteholders should not rely on amounts in the Spread Account as a source of funds for payments on the Notes. TAX STATUS OF THE TRUST: In the opinion of Dewey Ballantine LLP, the Class A Notes will be characterized as indebtedness, and the Trust will not be treated as an association (or publicly traded partnership) taxable as a corporation for federal income tax purposes. ERISA ELIGIBILITY: Subject to certain conditions described in the Prospectus, the Class A Notes will be ERISA eligible. See "ERISA Considerations" in the Prospectus. OPTIONAL REDEMPTION: The Certificateholder may at its option redeem the Notes on any Payment Date on or after which the outstanding Note Balance is equal to 10% or less of the Initial Note Balance, at a redemption price equal to the then outstanding Note Balance plus all accrued and unpaid interest thereon as of such Payment Date; provided that the Certificateholder's right to exercise such option will be subject to the prior approval of the Note Insurer, but only if, after giving effect thereto, a claim on the Policy would occur or any amount owing to the Note Insurer or the holders of the Class A Notes would remain unpaid. THE ORIGINATOR/SERVICER: Long Beach Acceptance Corp. ("LBAC"). GLOSSARY OF TERMS: "Available Funds" for a Payment Date will be the sum of the following amounts (without duplication) with respect to the related Collection Period: (i) all collections on Receivables 6 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- (including amounts received in connection with extensions, rebates or adjustments on Receivables granted by the Servicer in accordance with the Sale and Servicing Agreement); (ii) all proceeds received during such Collection Period with respect to Receivables that became Liquidated Receivables during such Collection Period in accordance with the Servicer's customary servicing procedures, net of the reasonable expenses incurred by the Servicer in connection with such liquidation and any amounts required by law to be remitted to the Obligor on such Liquidated Receivable ("Liquidation Proceeds"); (iii) proceeds from Recoveries with respect to Liquidated Receivables; (iv) the Purchase Amount of each Receivable that was repurchased by the Originator or purchased by the Servicer as of the last day of such Collection Period; (v) the amount of any Simple Interest Advance (as described in the Prospectus) deposited to the Collection Account by the Servicer with respect to such Collection Period; and (vi) any earnings on investments of funds in the Collection Account. "Class A Note Balance" shall equal, initially, the initial Class A Note Balance, and thereafter, shall equal the initial Class A Note Balance, reduced by all amounts previously distributed as payments to Class A Noteholders and allocable to principal. "Class B Note Balance" shall equal, initially, the initial Class B Note Balance, and thereafter, shall equal the initial Class B Note Balance, reduced by all amounts previously distributed as payments to Class B Noteholders and allocable to principal. "Class A Percentage" means [97.00]%. "Class B Percentage" means [3.00]%. "Closing Date" means August 15, 2002. "Deficiency Claim Amount" means, with respect to any Determination Date, the amount, if any, by which the amount of the Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Determination Date pursuant to clauses (i) through (iv) and sub-clause first of clause (v) under "Priority of Payments" above. The Deficiency Claim Amount will be drawn from the Spread Account, to the extent available, to make payments pursuant to clauses (i) through (iv) and sub-clause first of clause (v) under "Priority of Payments" above. The "Determination Date" with respect to any Payment Date will be the fourth Business Day preceding such Payment Date. "Payahead Amount" means, with respect to Receivables that are actuarial receivables or Rule of 78 receivables, payments remitted by the related obligor prior to the Cut-off Date in excess of the aggregate of scheduled receivables payments, Servicer expenses and late fees, if any, retained by the Servicer in accordance with its payment application procedures. "Policy Claim Amount" means, with respect to any Determination Date, the amount, if any, by which the sum of (i) the amount of the Available Funds (after giving effect to the payments to be made on the related Payment Date pursuant to clause (i) and (ii) under "Priority of Payments" above) with respect to such Determination Date plus (ii) the amount of the Deficiency Claim Amount, if any, available to be delivered by the Collateral Agent to the Trust Collateral Agent pursuant to a notice delivered on the fourth Business Day preceding the related Payment Date, is less than the Scheduled Payments for such Payment Date. "Pool Balance" as of the close of business on the last day of a Collection Period means the aggregate Principal Balance of the Receivables as of such date (excluding Liquidated Receivables and Receivables purchased by LBAC or the Servicer pursuant to the Sale and Servicing Agreement). 7 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- "Purchase Agreement" means the Purchase Agreement dated as of August 1, 2001, between the Transferor and LBAC, as the same may be amended, modified or supplemented from time to time in accordance with the terms thereof, relating to the purchase of the Receivables by the Transferor from LBAC. "Purchase Amount" means, with respect to a Receivable, the amount, as of the close of business on the last day of a Collection Period, required to prepay in full such Receivable (after giving effect to the application of any Liquidation Proceeds and Recoveries collected in respect of such Receivable on or prior to the last day of such Collection Period) under the terms thereof including accrued and unpaid interest thereon to the end of the month of purchase. The Purchase Amount relating to any Receivable that became a Liquidated Receivable during any Collection Period preceding the month of purchase shall be treated as Recoveries in respect of such Receivable. "Reimbursement Obligations" means, with respect to each Payment Date, any amounts due to the Note Insurer under the terms of the Sale and Servicing Agreement or the Insurance Agreement and with respect to which the Note Insurer has not been previously paid. "Recoveries" means, with respect to each Liquidated Receivable, the monies collected from whatever source, during any Collection Period following the Collection Period in which such Receivable became a Liquidated Receivable, net of the reasonable costs of liquidation plus any amount required by law to be remitted to the Obligor. "Requisite Amount" means, with respect to any Payment Date, the amount determined from time to time in accordance with certain portfolio performance tests agreed upon by the Note Insurer and the Transferor as a condition to the issuance of the Policy which portfolio performance tests may be amended, modified or terminated by the Note Insurer and the Transferor without the consent of the Trust Collateral Agent or the Noteholders so long as a Note Insurer Default (as defined in the Prospectus) shall not have occurred and be continuing. "Senior Strip" means, with respect to each Payment Date, an amount equal to the product of (i) one-twelfth, (ii) the Pool Balance and (iii) 0.25%. "Servicing Fee" means, with respect to each Payment Date, an amount equal to the product of (i) one-twelfth, (ii) the Pool Balance and (iii) 2.20%. "Statistical Cut-off Date" means July 1, 2002. 8 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- COMPUTATIONAL MATERIALS DISCLAIMER The attached tables and other statistical analyses (the "Computational Materials") are privileged and intended for use by the addressee only. These Computational Materials are furnished to you solely by Greenwich Capital Markets, Inc. and not by the issuer of the securities. They may not be provided to any third party other than the addressee's legal, tax, financial and/or accounting advisors for the purposes of evaluating said material. Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected therein. As such, no assurance can be given as to the Computational Materials' accuracy, appropriateness or completeness in any particular context; nor as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance. These Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice. Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayments assumptions, and changes in such prepayment assumptions may dramatically affect such weighted average lives, yields and principal payment periods. In addition, it is possible that prepayments on the underlying assets will occur at rates slower or faster than the rates shown in the attached Computational Materials. Furthermore, unless otherwise provided, the Computational Materials assume no losses on the underlying assets and no interest shortfall. The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the actual underlying assets and the hypothetical underlying assets used in preparing the Computational Materials. The principal amount and designation of any security described in the Computational Materials are subject to change prior to issuance. Neither Greenwich Capital Markets, Inc. nor any of its affiliates makes any representation or warranty as to the actual rate or timing of payments on any of the underlying assets or the payments or yield on the securities. Although a registration statement (including the Prospectus) relating to the securities discussed in this communication has been filed with the Securities and Exchange Commission and is effective, the final Prospectus relating to the securities discussed in this communication has not been filed with Securities and Exchange Commission. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities discussed in this communication in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification of such securities under the securities laws of any such state. Prospective purchasers are referred to the final prospectus supplement and prospectus relating to the securities discussed in this communication which supersede these Computational Materials and any matter discussed in this communication. Once available, a final prospectus supplement and prospectus may be obtained by contacting the Greenwich Capital Markets, Inc. Trading Desk at (203) 625-6160. Please be advised that the securities described herein may not be appropriate for all investors. Potential investors must be willing to assume, among other things, market price volatility, prepayment, yield curve and interest rate risks. Investors should make every effort to consider the risks of these securities. If you have received this communication in error, please notify the sending party immediately by telephone and return the original to such party by mail. 9 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- This information is provided to you solely by Greenwich Capital Markets, Inc. ("GCM") and not by the issuer of the securities or any of its affiliates. GCM is acting as underwriter and not as agent for its affiliates in connection with the proposed transaction. These Computational Materials should be accompanied by a one page disclaimer which must be read in its entirety by the addressee of this communication. If such disclaimer is not attached hereto, please contact your Greenwich Capital sales representative. YIELD TABLES
CLASS A-1 TO CALL --------------------------------------------------------------------------------------------------------------------- FLAT PRICE 1.25% ABS 1.50% ABS 1.70% ABS 2.00% ABS 2.25% ABS ===================================================================================================================== WAL (YR) 0.31 0.28 0.27 0.24 0.23 MDUR (YR) 0.31 0.28 0.26 0.24 0.23 FIRST PRIN PAY 09/15/02 09/15/02 09/15/02 09/15/02 09/15/02 LAST PRIN PAY 03/15/03 02/15/03 02/15/03 01/15/03 01/15/03 --------------------------------------------------------------------------------------------------------------------- CLASS A-2 TO CALL --------------------------------------------------------------------------------------------------------------------- FLAT PRICE 1.25% ABS 1.50% ABS 1.70% ABS 2.00% ABS 2.25% ABS ===================================================================================================================== WAL (YR) 1.19 1.08 1.00 0.90 0.83 MDUR (YR) 1.16 1.05 0.98 0.88 0.81 FIRST PRIN PAY 03/15/03 02/15/03 02/15/03 01/15/03 01/15/03 LAST PRIN PAY 06/15/04 04/15/04 02/15/04 01/15/04 11/15/03 --------------------------------------------------------------------------------------------------------------------- CLASS A-3 TO CALL --------------------------------------------------------------------------------------------------------------------- FLAT PRICE 1.25% ABS 1.50% ABS 1.70% ABS 2.00% ABS 2.25% ABS ===================================================================================================================== WAL (YR) 2.37 2.16 2.00 1.80 1.65 MDUR (YR) 2.25 2.05 1.91 1.72 1.59 FIRST PRIN PAY 06/15/04 04/15/04 02/15/04 01/15/04 11/15/03 LAST PRIN PAY 07/15/05 04/15/05 02/15/05 11/15/04 09/15/04 --------------------------------------------------------------------------------------------------------------------- CLASS A-4 TO CALL --------------------------------------------------------------------------------------------------------------------- FLAT PRICE 1.25% ABS 1.50% ABS 1.70% ABS 2.00% ABS 2.25% ABS ===================================================================================================================== WAL (YR) 3.78 3.48 3.24 2.89 2.62 MDUR (YR) 3.45 3.18 2.98 2.68 2.44 FIRST PRIN PAY 07/15/05 04/15/05 02/15/05 11/15/04 09/15/04 LAST PRIN PAY 11/15/06 07/15/06 04/15/06 11/15/05 07/15/05 ---------------------------------------------------------------------------------------------------------------------
10 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein. The information contained herein will be superseded by the description of the receivables contained in the final prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any. LONG BEACH ACCEPTANCE AUTO RECEIVABLES TRUST 2002-A BALANCES AS OF THE STATISTICAL CUT-OFF DATE
TOTAL CURRENT BALANCE $200,004,861 TOTAL AMOUNT FINANCED $203,248,968 NUMBER OF TOTAL PORTFOLIO LOANS 11,650 MINIMUM MAXIMUM AVERAGE CURRENT BALANCE $17,167.80 $1,603.40 $53,906.17 AVERAGE AMOUNT FINANCED $17,446.26 $3,000.00 $55,561.95 WEIGHTED AVERAGE APR RATE 15.1281 % 4.9900 25.5000 % WEIGHTED AVERAGE ADJUSTED APR RATE 15.1281 % 4.9900 25.5000 % WEIGHTED AVERAGE ORIGINAL LOAN TERM 66 months 24 72 months WEIGHTED AVERAGE REMAINING TERM 64 months 3 72 months WEIGHTED AVERAGE LOAN AGE 2 months 0 57 months TOP DEALER STATE CONCENTRATIONS ($) 29.45 % California, 8.69 % Arizona, 6.55 % Oklahoma TOP BORROWER STATE CONCENTRATIONS ($) 29.45 % California, 8.69 % Arizona, 6.49 % Oklahoma NEW-USED BREAKDOWN ($) 71.57 % Used, 28.43 % New TOP MANUFACTURER CONCENTRATIONS ($) 21.37 % Ford, 18.69 % Chevrolet, 11.31 % Dodge CONTRACT DATE Sep 05, 1997 Jun 28, 2002 MATURITY DATE Sep 07, 2002 Jul 11, 2008
% OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF LOAN TYPE AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE ------------------------------------------------------------------------------------------------------------- Precomputed 597 $9,943,218.86 4.97% Simple Interest 11,053 190,061,642.01 95.03 ------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ============================================================================================================= % OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF LOAN CLASS AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE ------------------------------------------------------------------------------------------------------------- A+ (IA) 612 $11,341,263.43 5.67% A (I) 1,258 25,345,634.55 12.67 B+ (IIA) 4,168 77,587,233.07 38.79 B (IIB) 4,551 72,828,249.89 36.41 C (III) 1,060 12,900,129.16 6.45 Limited Credit (LC) 1 2,350.77 0.00 ------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% =============================================================================================================
11 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein. The information contained herein will be superseded by the description of the receivables contained in the final prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
% OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF NEW/USED AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- New 2,579 $56,853,550.90 28.43% Used 9,071 143,151,309.97 71.57 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ============================================================================================================== % OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF CONTRACT DATE AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- 01/01/97 - 12/31/97 3 $6,747.88 0.00% 01/01/01 - 08/31/01 2 30,776.19 0.02 10/01/01 - 10/31/01 1 9,209.59 0.00 11/01/01 - 11/30/01 2 35,624.59 0.02 12/01/01 - 12/31/01 9 186,238.02 0.09 01/01/02 - 01/31/02 330 5,301,322.57 2.65 02/01/02 - 02/28/02 2,254 36,914,040.82 18.46 03/01/02 - 03/31/02 2,675 44,728,057.26 22.36 04/01/02 - 04/30/02 2,259 39,343,125.15 19.67 05/01/02 - 05/31/02 2,466 43,575,220.11 21.79 06/01/02 - 06/30/02 1,649 29,874,498.69 14.94 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ============================================================================================================== % OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF CURRENT BALANCE ($) AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- 1,603 - 2,500 2 $3,954.17 0.00% 2,501 - 5,000 39 172,815.57 0.09 5,001 - 7,500 268 1,759,366.37 0.88 7,501 - 10,000 873 7,813,113.07 3.91 10,001 - 12,500 1,556 17,651,608.75 8.83 12,501 - 15,000 2,008 27,683,848.80 13.84 15,001 - 17,500 1,944 31,540,696.88 15.77 17,501 - 20,000 1,632 30,515,420.89 15.26 20,001 - 22,500 1,196 25,341,737.51 12.67 22,501 - 25,000 862 20,408,822.42 10.20 25,001 - 27,500 540 14,124,102.40 7.06 27,501 - 30,000 326 9,355,493.97 4.68 30,001 - 35,000 307 9,840,830.84 4.92 (greater than) 35,000 97 3,793,049.23 1.90 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ==============================================================================================================
12 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein. The information contained herein will be superseded by the description of the receivables contained in the final prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
% OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF APR RATE (%) AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- 4.990 - 5.000 1 $30,100.19 0.02% 5.001 - 6.000 5 93,336.06 0.05 6.001 - 7.000 43 802,496.71 0.40 7.001 - 8.000 131 2,693,996.94 1.35 8.001 - 9.000 278 6,005,349.51 3.00 9.001 - 10.000 449 9,402,470.69 4.70 10.001 - 11.000 468 9,789,059.87 4.89 11.001 - 12.000 666 14,080,032.46 7.04 12.001 - 13.000 744 14,830,428.23 7.42 13.001 - 14.000 981 19,500,683.76 9.75 14.001 - 15.000 1,109 20,118,052.64 10.06 15.001 - 16.000 1,185 20,635,667.58 10.32 16.001 - 17.000 1,518 25,567,427.91 12.78 17.001 - 18.000 1,474 22,381,078.50 11.19 18.001 - 19.000 1,179 16,534,806.56 8.27 19.001 - 20.000 720 9,255,399.49 4.63 20.001 - 21.000 617 7,327,597.79 3.66 21.001 - 22.000 56 654,352.30 0.33 22.001 - 23.000 12 149,175.29 0.07 23.001 - 24.000 13 143,315.67 0.07 25.001 - 25.500 1 10,032.72 0.01 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ==============================================================================================================
13 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein. The information contained herein will be superseded by the description of the receivables contained in the final prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
% OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF ADJUSTED APR RATE (%) AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- 4.990 - 5.000 1 $30,100.19 0.02% 5.001 - 6.000 5 93,336.06 0.05 6.001 - 7.000 43 802,496.71 0.40 7.001 - 8.000 131 2,693,996.94 1.35 8.001 - 9.000 278 6,005,349.51 3.00 9.001 - 10.000 449 9,402,470.69 4.70 10.001 - 11.000 468 9,789,059.87 4.89 11.001 - 12.000 666 14,080,032.46 7.04 12.001 - 13.000 744 14,830,428.23 7.42 13.001 - 14.000 981 19,500,683.76 9.75 14.001 - 15.000 1,109 20,118,052.64 10.06 15.001 - 16.000 1,185 20,635,667.58 10.32 16.001 - 17.000 1,518 25,567,427.91 12.78 17.001 - 18.000 1,474 22,381,078.50 11.19 18.001 - 19.000 1,179 16,534,806.56 8.27 19.001 - 20.000 720 9,255,399.49 4.63 20.001 - 21.000 617 7,327,597.79 3.66 21.001 - 22.000 57 657,146.01 0.33 22.001 - 23.000 12 149,175.29 0.07 23.001 - 24.000 12 140,521.96 0.07 25.001 - 25.500 1 10,032.72 0.01 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ============================================================================================================== % OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF REMAINING TERM (MONTHS) AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- 3 - 6 3 $6,747.88 0.00% 19 - 24 10 54,833.80 0.03 25 - 30 4 18,632.64 0.01 31 - 36 91 697,693.48 0.35 37 - 42 30 284,924.08 0.14 43 - 48 329 3,215,996.90 1.61 49 - 54 442 5,298,918.18 2.65 55 - 60 5,225 74,099,763.85 37.05 61 - 66 517 8,629,908.25 4.31 67 - 72 4,999 107,697,441.81 53.85 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ==============================================================================================================
14 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein. The information contained herein will be superseded by the description of the receivables contained in the final prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
% OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF LOAN AGE (MONTHS) AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- 0 2,443 $44,194,367.96 22.10% 1 2,321 40,738,117.15 20.37 2 2,401 41,444,636.35 20.72 3 2,622 43,446,243.78 21.72 4-6 1,855 30,099,137.38 15.05 7+ 8 82,358.25 0.04 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ============================================================================================================== % OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF DEALER STATE MORTGAGE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- California 3,159 $58,898,331.28 29.45% Arizona 945 17,385,032.98 8.69 Oklahoma 833 13,106,290.16 6.55 New York 774 11,594,152.00 5.80 Nevada 555 10,224,984.18 5.11 Colorado 585 9,678,814.72 4.84 Washington 531 9,262,584.32 4.63 Georgia 509 8,677,194.03 4.34 Florida 508 8,535,311.61 4.27 New Jersey 493 8,496,751.77 4.25 Oregon 374 6,155,420.27 3.08 North Carolina 305 5,157,001.77 2.58 Massachusetts 324 5,096,608.29 2.55 South Carolina 307 4,971,199.48 2.49 Pennsylvania 329 4,905,577.41 2.45 Missouri 257 4,050,082.94 2.02 Maryland 126 2,272,660.66 1.14 New Hampshire 157 2,087,144.38 1.04 Kansas 123 $2,075,568.10 1.04% All Others ( 10 ) 456 7,374,150.52 3.69 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ==============================================================================================================
15 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein. The information contained herein will be superseded by the description of the receivables contained in the final prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
% OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF COLLATERAL YEAR AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- 1993 1 $9,074.56 0.00% 1994 5 41,635.47 0.02 1995 47 467,983.77 0.23 1996 399 4,431,840.63 2.22 1997 870 11,112,723.53 5.56 1998 1,572 22,077,445.80 11.04 1999 2,667 43,342,509.54 21.67 2000 1,679 27,835,342.04 13.92 2001 1,660 30,040,383.15 15.02 2002 2,677 59,164,198.68 29.58 2003 73 1,481,723.70 0.74 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ==============================================================================================================
16 [GRAPHIC OMITTED]GREENWICH CAPITAL -------------------------------------------------------------------------------- The information contained herein has been prepared solely for the use of Greenwich Capital Markets, Inc. and has not been independently verified by Greenwich Capital Markets, Inc. Accordingly, Greenwich Capital Markets, Inc. makes no express or implied representations or warranties of any kind and expressly disclaims all liability for any use or misuse of the contents hereof. Greenwich Capital Markets, Inc. assumes no responsibility for the accuracy of any material contained herein. The information contained herein will be superseded by the description of the receivables contained in the final prospectus supplement. Such information supersedes the information in all prior collateral term sheets, if any.
% OF AGGREGATE PRINCIPAL BALANCE PRINCIPAL BALANCE NUMBER OF OUTSTANDING AS OF OUTSTANDING AS OF MANUFACTURER AUTOMOBILE LOANS THE CUTOFF DATE THE CUTOFF DATE -------------------------------------------------------------------------------------------------------------- Acura 74 $1,204,564.27 0.60% Audi 10 227,039.84 0.11 BMW 59 1,441,078.98 0.72 Buick 69 958,110.59 0.48 Cadillac 68 1,279,055.66 0.64 Chevrolet 2,052 37,381,867.54 18.69 Chrysler 331 5,704,729.94 2.85 Daewoo 15 172,742.13 0.09 Dodge 1,303 22,614,620.71 11.31 Ford 2,444 42,734,319.08 21.37 Geo 9 56,688.24 0.03 GMC 300 5,972,516.46 2.99 Honda 480 7,644,594.99 3.82 Hyundai 291 4,504,936.01 2.25 Infiniti 52 973,750.54 0.49 Isuzu 113 2,023,321.05 1.01 Jaguar 5 121,053.25 0.06 Jeep 361 6,394,464.39 3.20 Kia 119 1,601,766.74 0.80 Land Rover 10 210,058.31 0.11 Lexus 50 1,112,130.36 0.56 Lincoln 54 1,221,864.78 0.61 Mazda 228 3,495,915.78 1.75 Mercedes 81 2,112,467.38 1.06 Mercury 192 2,695,531.85 1.35 Mitsubishi 421 6,734,859.91 3.37 Nissan 787 14,049,255.10 7.02 Oldsmobile 132 1,843,697.48 0.92 Plymouth 133 1,558,872.09 0.78 Pontiac 420 5,975,593.00 2.99 Porsche 1 30,235.00 0.02 Saab 6 102,973.71 0.05 Saturn 117 1,376,985.48 0.69 Subaru 33 608,149.06 0.30 Suzuki 89 1,399,450.75 0.70 Toyota 606 10,272,572.78 5.14 Volkswagen 115 1,829,850.80 0.91 Volvo 20 363,176.84 0.18 -------------------------------------------------------------------------------------------------------------- TOTAL 11,650 $200,004,860.87 100.00% ==============================================================================================================
17 [GRAPHIC OMITTED]GREENWICH CAPITAL --------------------------------------------------------------------------------