-- National Australia Bank is acquiring Challenger's Mortgage Management business -- The rating impact on Challenger's RMBS likely to be minimal -- There is no change to the ratings on the Challenger RMBS issues MELBOURNE (Standard&Poor's) Aug. 19, 2009--Standard&Poor's Ratings Services said today that the announcement of National Australia Bank (NAB)'s acquisition of Challenger's Mortgage Management business on Aug. 18, 2009 is not likely to adversely affect the ratings on outstanding RMBS originated, managed, and administered by Challenger entities. The acquisition is subject to regulatory approval and is expected to close by the end of 2009. We understand the legal responsibilities of the servicer and trust manager for the RMBS transactions will be retained by Challenger
