European DataWarehouse Successfully Concludes Private Placement

London (ots/PRNewswire) -

European DataWarehouse GmbH (ED) is pleased to announce today the
successful completion of a private placement with fifteen key
investors, consisting largely of global banks and institutions. The
placement has been coordinated by Perella Weinberg Partners.

ED is a groundbreaking new company that was created with the
support of the European Central Bank (ECB), acting as a catalyst in
the market, and global investors (through the Market Group and ECB
Technical Working Groups) to respond to the need for full disclosure
for investors in asset-backed securities (ABS). As well as providing
an open platform for all users to access ABS data, one of ED's key
responsibilities will be to facilitate the reporting of loan-level
data of ABS transactions which will become a binding criterion for
the securities to be considered for eligibility in the Eurosystem
collateral framework. The ABS loan-level data will need to meet the
information requirements prescribed in the ECB loan-level templates
which are available on the ECB website.

(The ECB templates are available at http://www.ecb.int/mopo/asset
s/loanlevel/transmission/html/index.en.html)

ED's completion, which will include an extensive testing and
system integration before the ECB loan-level data requirements become
binding, is envisaged towards the end of Q4 2012. Proceeds from the
placement will be used to finalise the build-out of ED as well as to
provide the business with ongoing working capital.

Fernando Gonzalez, Chairman of the ECB Technical Working Group on
the ABS Loan-level Initiative and Head of the Risk Strategy Section
at the ECB, said:

"ED is a cornerstone for the restoration of confidence in the ABS
market. It will bring to fruition a central European repository and
data handling infrastructure created for the market by the market.
The Eurosystem has supported the creation of a single data-handling
infrastructure from an early stage and plans to negotiate terms of
use of ABS loan-level data. I would like to thank the 15 key
investors as well as the Market Group members for their dedication
and support throughout the process."

Paul Burdell, Director of European DataWarehouse and CEO at LCM
Partners, added:

"ED will be the key mechanism to access ABS loan-level
information, helping investors and other market participants to gain
an in depth understanding of the underlying assets for their required
due diligence and stress tests. ED should also help improve liquidity
in the ABS market as information and full disclosure about the
underlying assets will help investors in their valuations, risk
assessments and comparisons across multiple jurisdictions and
multiple asset classes."

ED is planning several workshops to help issuers, investors and
data providers interfacing with its systems. The reporting process
will start with RMBS transactions and will then be extended to CMBS
and SME securities shortly after. Auto loan, consumer finance and
leasing ABS transactions for inclusion in the Eurosystem collateral
framework will also be subject to ED's validation processes in due
course.

ED's governance structure currently envisages a Supervisory Board
and a pricing committee with the participation of the ECB and
national central bank senior representatives as active observers.

ED's head office will be based in Frankfurt.

Notes to the editors:

In December 2010, the Governing Council of the ECB announced its
intention to establish loan-by-loan data requirements for ABS in the
Eurosystem collateral framework, with the aim of improving
transparency and helping to restore investor confidence in the
European securitisation markets (the ABS Loan-level Initiative).

As part of the initiative, the ECB in April 2011, encouraged the
creation of a data warehouse for the processing, verification and
transmission of ABS loan-level data by an independent constructor
external to the Eurosystem. At the same time, former ECB President
Jean-Claude Trichet invited market participants to lend their support
to this important initiative.

An independent group of nine leading ABS investors and
originators from across Europe called the "Market Group" was formed
to oversee and advise in relation to the RfI and RfP processes to
select the advisors to build ED.

ED will ensure that loan-level data is made available to market
participants to increase disclosure in relation to, and facilitate
the risk assessment of, existing and future ABS transactions.
Processes and software systems will be put in place that allow ABS
originators to submit loan-level data to ED electronically, and the
loan-level data will be checked for compliance with the specific ECB
reporting templates as well as for consistency and timeliness.

A number of advisors have been involved in the process of setting
up ED. LCM Partners (formerly Link Financial) has been overseeing the
ABS Loan-level Initiative and its implementation since its inception,
playing a key role in coordinating the parties and advisors. ED's
private placement has been conducted by Perella Weinberg Partners.
Sapient Global Markets is the constructor of the software, whilst NTT
Europe Ltd. will provide the hardware and back up services for ED.
Morrison & Foerster has been ED's project legal advisor together with
Noerr, and Deloitte has provided accounting and tax advisory
services.

For further information and a schedule of upcoming events please
visit http://www.eurodw.eu or contact:

European DataWarehouse
Paul Burdell
paulburdell@eurodw.eu

MHP Communications
Andrew Jaques
Ian Payne
t: +44(0)203-128-8100

ots Originaltext: European DataWarehouse GmbH
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