IN THE MARKETPLACE

Fitch Ratings of New York has announced that its equipment lease asset-backed securities (ABS) delinquency index grew bigger and stronger in 2003, according to the latest edition of 'The ABS Equipment Expo.' As of March 31, 2003, total delinquencies greater than 30 days past due fell 38 basis points from the prior quarter to reach 3.73%, the lowest level since November 1998. Despite improving delinquency trends, the company remains concerned about the increasing size of the 91+ day past due bucket relative to the smaller, younger buckets. Over the past 15 months, the size of the 91+ past due bucket has steadily risen as a proportion of total delinquencies. During first quarter 2003, the 91+ bucket rose 329 basis points over the prior quarter to reach 30.2% of the total. Although first quarter 2003 delinquencies hit four-year lows within Fitch's index, prolonged macroeconomic weakness within the U.S. economy continues to affect the equipment leasing industry. While the equipment lease issuers within Fitch's index are not immune to the ramifications of economic instability, those issuers securitizing their portfolios are proving to be somewhat isolated from negative performance trends, relative to the overall market as a result of industry tiering. 'The ABS Equipment Expo' tracks equipment lease ABS performance, industry trends and developments within the securitization market. Both current and historical editions of the newsletter are available at http://www.fitchratings.com/.

ICON Capital Corp. of New York has announced the completion of ICON Income Fund Nine, LLC ('ICON Nine'). The fund raised $100 million of investor equity and is on track to acquire approximately $250 million of equipment subject to leases with large, creditworthy companies. Combined with prior ICON-sponsored programs, more than $500 million of equity has been raised and more than $1 billion of equipment has been acquired since ICON Nine began marketing in late 2001.