Kion Mortgage Finance II Plc

This will be the second securitisation of Greek Residential mortgages from originator Millennium Bank SA
a 100% owned subsidiary of the Banco Comercial Português Group the largest banking group in Portugal.
The Bank focuses on retail banking, but it is also active in private banking, corporate banking (including
banking services to small and medium size businesses and bancassurance.

As in the previous KION transaction the set-off risk will be covered by way of an additional pool of mort-
gages that the originator assigns to the SPV together with the mortgage pool securing the notes at closing.
However, unlike KION I the loans in the exposure Pool are Swiss Francs denominated.

The portfolio will consist of residential mortgage loans made to private individuals in Greece for the purpose
of purchasing residential property, repaying in full an existing mortgage from another bank, purchasing land
where a residential property will be legally constructed or for the purposes of repairing and/or developing
residential property.

The initial pool (substitution is allowed) consists of 7,072 loan parts to 5,690 obligors with an average
borrowing balance of Eur106,528.. Although 14 of the loans had an original balance of greater than Eur1mln,
there are now 16 loans which have a current balance greater than Eur1mln. Loans granted at variable rates
account for 24.09% by outstandings, and fixed/variable account for 75.00%.

WA current LTV is 61.40%, and WA seasoning 21.13mnths. Geographical concentration (by outstanding
balance) : Attica 56.50%, Thessaloniki 21.44%, and Macedonia 5.27%.

Compare/contrast: Kion I, Magellan Mortgages No. 5 PLC, Estia Mortgage Finance III
Kion Mortgage Finance Plc Magellan Mortgages No. 5 PLC Estia Mortgage Finance III