Lusitano Mortgages No. 5 plc

The latest in the Lusitano series from originator Espirito Santo , with Calyon
again acting as lead-manager/boorunner as per No.4 (docs for all previous issues
also available on EuroABS).

The underlaying Portugese-originated loan portfolio has an average seasoning of 24.8mnths
with an average LTV of 72.4%. Geographically, Lisbon Vale do Tejo accounts for 41.17% of
the loans, followed by Norte (26.41%) and Centro (16.05%)

The AAA-rated notes make up the bulk of the transaction, similar to all previous deals
in the series.


Compare/contrast vs the recent Portugese RMBS from Banco BPI - Douro 2