Fitch Issues Presale on Honda Auto Receivables 2005-5 Owner Trust

NEW YORK--Oct. 1, 20057, 2005--Fitch Ratings has issued a presale report on Honda Auto Receivables 2005-5 Owner Trust discussing the rating analysis behind Fitch's expected 'F1+' ratings on the class A-1 notes and 'AAA' ratings on the class A-2, A-3, and A-4 notes. The securities are backed by a pool of retail installment sales contracts, secured by new and used automobiles.

The presale report is available to all investors on Fitch's corporate site, www.fitchratings.com. For more information about Fitch's comprehensive subscription service Fitch Research, which includes all presale reports, surveillance, and credit reports on more than 20 asset-backed securities (ABS) asset classes, including collateralized debt obligations (CDOs), contact product sales at +1-212-908-0800 or at webmaster@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.