FICC Important Notice: Refco Securities LLC (Refco Accounts REFC, REFE, REFF, REFO, REFX, REFY)

#:	MBS165.05
Date:
To:	Mortgage-Backed Securities Division Participants
Subject:	Refco Securities LLC (Refco Accounts REFC, REFE, REFF, REFO, REFX, REFY)

This is to inform FICC Members that Refco Securities LLC (“Refco”) has not filed for bankruptcy and continues to be a member in good standing of the Mortgage-Backed Securities Division of FICC.

Refco is continuing to wind down its outstanding positions. At the present time, FICC is continuing to act for Refco in an effort to assist Refco in performing an orderly wind down of its FICC activity.

FICC will keep Members informed of on-going developments regarding Refco.

If you have any questions regarding this notice, please call Jeffrey Ingber, at 212.855.7630, or the undersigned, at 212.855.7633.

Nikki Poulos

Vice President and

General Counsel