Exhibit 99.1







ML MBS Services Limited



FINANCIAL STATEMENTS AS OF DECEMBER 28, 2007 AND FOR 
THEPERIOD FROMMARCH 30, 2007 (DATE OF INCORPORATION) TO DECEMBER 28, 2007











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ML MBS SERVICES LIMITED

INDEX TO FINANCIAL STATEMENT SCHEDULES





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|------------------------------------------------------- | ----
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|                                                        | Page
|                                                        |     
|Report of Independent Registered Public Accounting Firm | 3   
|                                                        |     
|Statement of Earnings                                   | 4   
|                                                        |     
|Balance Sheet                                           | 5   
|                                                        |     
|Notes to the financial statements                       | 6-8 
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of ML MBS Services Limited:



We have audited the accompanying balance sheet of ML MBS Services Limited (the Company) as of December 28, 2007, and the related statement of earnings for the period from March 30, 2007 (date of incorporation) to December 28, 2007.  The financial statements are the responsibility of the Companys management.  Our responsibility is to express an opinion on the financial statements based on our audit.



We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.  Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Companys internal control over financial reporting.  Accordingly, we express no such opinion.  An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statements presentation.  We believe that our audit provides a reasonable basis for our opinion.



In our opinion, such financial statements present fairly, in all material respects, the financial position of ML MBS Services Limited as of December 28, 2007, and the results of its operations for the period from March 30, 2007 (date of incorporation) to December 28, 2007 in conformity with accounting principles generally accepted in the United States of America.





Deloitte & Touche LLP

Chartered Accountants

London, United Kingdom

31 March 2008







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ML MBS SERVICES LIMITED

STATEMENT OF EARNINGS





|                                   |  |  | For the period from March 30, 2007 to December 28, 2007
|---------------------------------- |  |  | -------------------------------------------------------
|                                   |  |  | £m                                                     
|                                   |  |  |                                                        
|                                   |  |  |                                                        
|                                   |  |  |                                                        
|Principal transactions income, net |  |  | -                                                      
|                                   |  |  |                                                        
|NET EARNINGS                       |  |  | -                                                      
|                                   |  |  |                                                        
|                                   |  |  |                                                        





The accompanying notes are an integral part of the financial statements.



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ML MBS SERVICES LIMITED

BALANCE SHEET





|                                                                    | Note |  |  |  |  |  |  | As at December 28, 2007 |  | As at December 28, 2007
|------------------------------------------------------------------- | ---- |  |  |  |  |  |  | ----------------------- |  | -----------------------
|                                                                    |      |  |  |  |  |  |  | £m                      |  | £m                     
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|ASSETS                                                              |      |  |  |  |  |  |  |                         |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|Trading assets, at fair value                                       | 3    |  |  |  |  |  |  |                         |  |                        
|- Affiliates                                                        |      |  |  |  |  |  |  | 176                     |  |                        
|- Non-affiliates                                                    |      |  |  |  |  |  |  | 19                      |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|TOTAL ASSETS                                                        |      |  |  |  |  |  |  |                         |  | 195                    
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|LIABILITIES                                                         |      |  |  |  |  |  |  |                         |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|Trading liabilities, at fair value                                  | 3    |  |  |  |  |  |  |                         |  |                        
|- Affiliates                                                        |      |  |  |  |  |  |  | 19                      |  |                        
|- Non-affiliates                                                    |      |  |  |  |  |  |  | 176                     |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  | 195                    
|TOTAL LIABILITIES                                                   |      |  |  |  |  |  |  |                         |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  | -                      
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|MEMBERS EQUITY                                                     |      |  |  |  |  |  |  |                         |  |                        
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|Contributed Capital (£1 per share; 2 shares issued and outstanding) | 5    |  |  |  |  |  |  |                         |  | -                      
|Subscription receivable from Parent                                 |      |  |  |  |  |  |  |                         |  | -                      
|                                                                    |      |  |  |  |  |  |  |                         |  |                        
|TOTAL MEMBERS EQUITY                                               |      |  |  |  |  |  |  |                         |  | -                      





The accompanying notes are an integral part of the financial statements.













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ML MBS SERVICES LIMITED





NOTES TO THE FINANCIAL STATEMENTS



NOTE 1. ORGANIZATION AND NATURE OF OPERATIONS



Organization



ML MBS Services Limited (hereinafter referred to as the Company) is a Limited Liability Company registered in the United Kingdom.



The Company was incorporated on March 30, 2007 as Hackremco (No. 2474) Limited and subsequently changed its legal name to ML MBS Services Limited on April 27, 2007.



The Companys year end is the last Friday in December.



The Company is a wholly-owned subsidiary of Merrill Lynch European Asset Holdings, Inc., a U.S. incorporated legal entity.



Nature of Operations



The Company is principally engaged in intermediating cross-currency swaps.



NOTE 2. BASIS OF PREPARATION



The financial statements have been prepared in conformity with generally accepted accounting principles in the United States of America.



The preparation of the financial statements require management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses. Actual results may differ from estimates.



Principal transactions income, net, comprises unrealised gains and losses on trading assets and liabilities, carried at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between marketplace participants. Gains and losses are recognised on a trade date basis.



The functional and reporting currency of the Company is the British Pound. The financial statements are presented in British Pounds.



NOTE 3. TRADING ASSETS AND LIABILITIES, AT FAIR VALUE



The Companys trading assets and liabilities relate to cross-currency swaps. All cross-currency swaps are carried at fair value with changes reflected in principal transactions income, net. All transactions are measured using level 2 inputs, that are market observable valuation inputs.



NOTE 4.  AFFILIATES



The Company intermediates all trades with Merrill Lynch International Bank Limited, an affiliated entity.



The cost and expenses incurred on behalf of the Companys organization and ongoing activities, including legal and audit fees, were borne by Merrill Lynch Europe PLC, an affiliated entity.



All related party transactions have been made on an arms length basis.





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ML MBS SERVICES LIMITED





NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)



NOTE 5.  MEMBER'S EQUITY



The Company has in issue 2 ordinary shares at £1 per share.  Merrill Lynch European Asset Holdings, Inc. subscribed to purchase those shares.



The £2 to be received from Merrill Lynch European Asset Holdings, Inc. is classified as a deduction from Members Equity as Subscription receivable from Parent. Accordingly, a Statement of Changes in Members Equity is not shown.



NOTE 6. CASH FLOWS FOR THE PERIOD FROM MARCH 30, 2007 TO DECEMBER 28, 2007



No net cash has been used or provided from operating, investing or financing activities for the period from March 30, 2007 to December 28, 2007. As a result, a Statement of Cash Flows has not been presented.



NOTE 7. CONCENTRATION



All transactions are with either Merrill Lynch International Bank Limited or an unaffiliated special purpose entity that is unrated. The special purpose entity is used by an unaffiliated company to issue structured notes.



NOTE 8. RISK MANAGEMENT



All market and credit risk is borne by Merrill Lynch International Bank Limited, an affiliated entity.



NOTE 9. TAXES



As the Company generates no income no tax liabilities are incurred.







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ML MBS SERVICES LIMITED





NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)





NOTE 10. NEW ACCOUNTING PRONOUNCEMENTS



In September 2006, the Financial Accounting Standards Board (FASB) issued SFAS No. 157. SFAS No. 157 defines fair value, establishes a framework for measuring fair values, establishes a fair value hierarchy based on the quality of inputs used to measure fair value and enhances disclosure about fair value measurements. In addition SFAS No.157 prohibits the use of block discounts for large positions. SFAS No. 157 was effective for fiscal years beginning after November 15, 2007 with early adoption permitted provided that the entity has not yet issued balance sheet for that fiscal year, including any interim periods. The provisions of SFAS No. 157 are to be applied prospectively, except the provisions related to block-discounts. The Company adopted SFAS No. 157 in 2007.



In March 2008, FASB issued SFAS No. 161 Disclosures about Derivative Instruments and Hedging Activities. This statement requires enhanced disclosures about an entitys derivative and hedging activities and is effective for fiscal years and interim periods beginning after November 15, 2008.



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