OFFERING MEMORANDUM STRATA 2007-1, LIMITED $40000000 ...

Counterparty, the Interest Rate Swap Counterparty and the Calculation Agent"; to the best of the knowledge and
belief of the Swap Counterparty, the Interest Rate Swap Counterparty and the Calculation Agent the information
contained in "The Swap Counterparty, the Interest Rate Swap Counterparty and the Calculation Agent" is in
accordance with the facts and does not omit anything likely to affect the import of such information; and (iii) the
Placement Agent accepts responsibility for the information contained under "Plan of Offering"; to the best of the
knowledge and belief of the Placement Agent the information contained in "Plan of Offering" is in accordance with
the facts and does not omit anything likely to affect the import of such information. Accordingly, no representation,
warranty, or undertaking, express or implied, is made, and no responsibility or liability is accepted, by the Issuer, the
Trustee, the Portfolio Manager, the Swap Counterparty, the Interest Rate Swap Counterparty, the Placement Agent
or any of their respective Affiliates as to the accuracy or completeness of the information contained in this Offering
Memorandum, except as provided above. Each person receiving this Offering Memorandum acknowledges that
such person has not relied on the Issuer, the Trustee, the Portfolio Manager the Swap Counterparty, the Interest Rate
Swap Counterparty, the Placement Agent or any of their respective Affiliates in connection with the accuracy of
such information or its investment decision, except as provided above.
The information relating to the Replacement Collateral Assets has been accurately reproduced from
information published by the issuer of the Replacement Collateral Assets, as set out below. So far as the Issuer is
aware and is able to ascertain from such sources, no facts have been omitted from such sources which would render
the reproduced information misleading.
The Notes are being offered only to a limited number of institutional investors that are willing and able to
conduct an independent analysis of the characteristics of the Notes and risks of ownership of the Notes. It is
expected that prospective purchasers interested in participating in this offering are willing and able to conduct an
independent investigation of the risks posed by an investment in the Notes. Representatives of the Placement Agent
will be available to answer questions concerning the Issuer, the Notes, the Swap Agreements and the Collateral
Assets and will, upon request, make available such other information as prospective purchasers may reasonably
request.
This Offering Memorandum is not intended to furnish legal, regulatory, tax, accounting, investment or
other advice to any prospective purchaser of the Notes. This Offering Memorandum should be reviewed by each
prospective purchaser and its legal, regulatory, tax, accounting, investment and other advisors. Prospective
purchasers whose investment authority is subject to legal restrictions should consult their legal advisors to determine
whether and to what extent the Notes constitute legal investments for them.
No person is authorized in connection with any offering made hereby to give any information or make any
representation other than as contained in this Offering Memorandum and, if given or made, such information or
representation must not be relied upon as having been authorized by the Issuer, the Trustee, the Portfolio Manager,
the Swap Counterparty, the Interest Rate Swap Counterparty or the Placement Agent. The delivery of this Offering
Memorandum at any time does not imply that the information contained herein is correct at any time subsequent to
its date.
No action is being taken or is contemplated by the Issuer, the Trustee or the Placement Agent that would
permit a public offering of the Notes or possession or distribution of this Offering Memorandum or any amendment
thereof, or supplement thereto or any other offering material relating to the Issuer or the Notes in any jurisdiction
where, or in any other circumstances in which, action for those purposes is required. The distribution of this
Offering Memorandum and the offering of the Notes may also be restricted by law in certain jurisdictions.
Consequently, nothing contained herein shall constitute an offer to sell, or a solicitation of an offer to buy, (i) any
securities other than the Notes or (ii) any Notes in any jurisdiction in which it is unlawful for such Person to make
such an offer or solicitation. Persons into whose possession this Offering Memorandum comes are required by the
Issuer, the Trustee and the Placement Agent to inform themselves about, and to observe, any such restrictions.
The Placement Agent will not assume any responsibility for the performance of any obligations of the
Issuer or any other Person described in this Offering Memorandum or for the due execution, validity or
enforceability of the Notes, the instruments or documents delivered in connection with the Notes or for the value or
validity of any collateral or security interests pledged in connection therewith.
12001-01597 NY:2045248.4
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