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Fitch: Northwoods Capital III, Ltd. Has Paid in Full.

CHICAGO -- The entire capital structure of Northwoods Capital III, Ltd. was paid in full (PIF) reflecting the total redemption of the outstanding notes as of the Nov. 14, 2005 payment date.

The following classes are paid in full:

-- Class I senior notes;

-- Class II

senior notes;

-- Class III-A mezzanine notes;

-- Class III-B mezzanine notes;

-- Class IV-A mezzanine notes;

-- Class IV-B mezzanine notes;

-- Class A combination notes;

-- Class B combination notes.

Additional deal information and historical data are available on the Fitch Ratings web site at www.fitchratings.com.

Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.

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