July 10, 2008

HSBC Finance Corporation does not comment on litigation.

However, we can tell you that HSBC has a strong commitment to helping our customers. We believe that foreclosure is the worst alternative for all parties concerned. As part of our long-standing homeownership preservation programs, HSBC has provided relief to some 22% of our real estate secured portfolio, including proactive outreach programs on ARM resets, short and longer- term modifications, and financial relief through our Foreclosure Avoidance Program.

Additionally, HSBC has been actively engaged with Director Zurz and Governor Strickland as part of our ongoing commitment to preserve homeownership in the State of Ohio. We are proud to say that HSBC's practices have been in accordance with the principles in the state's compact for some time.

Regards,
Diane Bergan

Diane Soucy Bergan
SVP - Public Affairs | HSBC North America

July 8, 2008

WELLS FARGO STATEMENT

The city of Cleveland's allegations about Wells Fargo's practices are completely unfounded. Wells Fargo is fully committed to responsible lending and servicing in all communities, and we are proud of our practices throughout the country and in Ohio. Our mortgage lending practices are subject to detailed federal supervision and regulations that impose strict requirements. We look forward to having the courts - as they've done time and again - uphold federal banking law, which gives the Office of the Comptroller of the Currency exclusive enforcement responsibility over national banks.

Kevin Waetke, APR
Communications Manager/Assistant Vice President