Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, said today that it is not providing credit to Credit-Based Asset Servicing and Securitization LLC (C-Bass), which filed for Chapter 11 protection on November 12, 2010, in the United States Bankruptcy Court for the Southern District of New York.

Recent news reports may have led readers to believe that Wilmington Trust is providing credit to C-Bass. In fact, Wilmington Trust is not a lender to C-Bass, despite the bankruptcy filing’s listing of Wilmington Trust among the largest unsecured creditors of C-Bass. Wilmington Trust is serving as indenture trustee for holders of approximately $234 million of debt issued by C-Bass. Wilmington Trust has no credit exposure to C-Bass or any of its subsidiaries. Through its CCS business, Wilmington Trust is paid a fee for providing these services. The bankruptcy filing of C-Bass has no effect on Wilmington Trust’s balance sheet, credit quality, or financial condition.

Wilmington Trust’s CCS business offers institutional trustee, agency, asset management, retirement plan, and administrative services for clients worldwide who use capital market financing structures, as well as those who seek to establish or maintain nexus, or legal residency, for special purpose entities. Because Wilmington Trust does not underwrite securities offerings or provide investment banking services, it is able to deliver corporate trust services that are conflict-free.

Wilmington Trust Corporation (NYSE:WL) is a financial services holding company that provides Regional Banking services throughout the mid-Atlantic region, Wealth Advisory services to high-net-worth clients in 36 countries, and Corporate Client services to institutional clients in 89 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in Arizona, California, Connecticut, Delaware, Florida, Georgia, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, Luxembourg, and Amsterdam. For more information, visit www.wilmingtontrust.com.

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