Atlantes Mortgage No. 3 plc

The third securitisation of prime residential mortgage loans in 2008 for originator Banif - Banco
Internacional do Funchal, S.A., which issues under the Atlantes and Azor names,

Banif Financial Group operates in 3 major areas: commercial banking, investment banking and
insurance. In June 2008, Banif SGPS increased its share capital from €250 to €350 million, of
which €50million was obtained by incorporation of reserves and the remaining €50 million by
a public offer reserved to the shareholders.

The initial mortgage asset portfolio as at 31 August 2008 consisted of 7,895 loans, with an
average current outstanding balance of Eur75,997. Some 811 of the loans have a higher out-
standing than Eur140,000, representing 27.97% of aggregate current balance. In total, 5,649
loans were sourced through the branch network, representing 67.44% of current outstanding
balances. All are indexed to either 3m (60.99%) or 6m (39.01%) Euribor.

The WA current LTV is 67.59%, with a max of 99.95%. WA seasoning is 23.43mnths. Regional
concentration (by current outstanding): Madeira 30.14%, Lisbon 19.99%, Algarve 17.01%,
Northern Portugal 16.85%, and Central Portugal 14.92%.

Compare/contrast: Atlantes Mortgage No. 2 plc, Azor Mortgages No 2 PLC,
Lusitano Mortgages No. 7 plc
Azor Mortgage No. 2 plc Lusitano Mortgage No.7 plc