S&P Afms Ace Sec Corp Hme Eqty Ln Trs Rtgs on Var Ser.

Business Editors

NEW YORK--(BUSINESS WIRE)--Sept. 23, 2002

Standard & Poor's Ratings Services today affirmed its ratings on 16 classes from four series of Ace Securities Corp. Home Equity Loan Trust transactions (see list).

The affirmations reflect loss coverage percentages that meet or exceed the levels to maintain their current ratings. As of the Aug. 25, 2002 remittance date, total delinquencies range from 8.16% to 31.83% and cumulative losses (as a percentage of the original trusts' balances) range from 0.0% to 1.39%.

Credit enhancement for the senior certificates of Ace Securities Corp. Home Equity Loan Trust Series 1999-LB1 is provided by a financial guaranty

insurance policy issued by MBIA Insurance Corp. (financial strength rating of triple-'A'). All four trusts receive credit support from excess spread, overcollateralization, and subordination. The outstanding pool balances are 26% to 83% of their original size, with the higher percentages correlating to the most recent issues.

The collateral for Ace Securities Corp. Home Equity Loan Trust Series 1999-LB1 and Ace Securities Corp. Home Equity Loan Trust Series 1999-LB2 comprises two pools each, with fixed- and adjustable-rate mortgage loans secured by one- to four-family residential properties. Ace Securities Corp. Home Equity Loan Trust Series 2001-HEL comprises mortgage loans that are secured by fixed- and adjustable-rate mortgages on one- to four-family residences. Ace Securities Corp. Home Equity Loan Trust Series 2001-AQ1 comprises adjustable-rate mortgage loans secured by first liens on one- to four-family residential properties.

RATINGS AFFIRMED

Ace Securities Corp. Home Equity Loan Trust

Series       Class          Rating
1999-LB1     A-1, A-2       AAA
1999-LB1     B              BBB-
1999-LB2     A              AAA
1999-LB2     M-1            AA
1999-LB2     M-2            A
1999-LB2     B              BBB
2001-HE1     A, A-IO        AAA
2001-HE1     M-1            AA
2001-HE1     M-2            A
2001-HE1     M-3            BBB
2001-AQ1     A-1, A-IO      AAA
2001-AQ1     M-1            AA
2001-AQ1     M-2            A

Copyright 2002, Standard & Poor's Ratings Services