INTERACTIVE DATA CORPORATION
Financial Times Information
June 1, 2000
Glickenhaus & Co.
6 East 43rd Street
New York, New York 10017
Lebenthal & Co., Inc.
120 Broadway
New York, New York 10271
RE: Empire State Municipal Exempt Trust,
Guaranteed Series 152
Gentlemen:
We have examined the Registration Statement File No.333-95911 for the referenced
Trust and acknowledge that Interactive Data Corporation is currently acting as
the evaluator for the Empire State Municipal Exempt Trust Guaranteed Series 152.
Subsequently, we hereby consent to the reference of Interactive Data Corporation
as Trust evaluator.
In addition, we confirm that the ratings of the bonds comprising the portfolio
of the Trust, as indicated in the Registration Statement, are the ratings
currently indicated in our Muniview data base as of the date of the evaluation
report.
You are hereby authorized to file a copy of this letter with the Securities
and Exchange Commission.
Sincerely,
/s/ Art Brasch
Vice President
100 William Street
New York, NY 10038
Tel. 212-269-6300 Fax. 212-771-6987
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Standard & Poor's
A Division of The McGraw-Hill Companies, Inc.
Fund Services
55 Water Street
New York, New York 10041-0003
Telephone 212/438-2000
FAX 212/438-5075
May 26, 2000
Glickenhaus & Company
6 East 43rd Street
New York, New York 10017
Re: Empire State Municipal Exempt Trust, Guaranteed Series 152
Pursuant to your request for a Standard & Poor's rating on the units of the
above-captioned Trust, SEC #333-95911, we have reviewed the information
presented to us and have assigned a 'AAA' rating to the units of the Trust and a
'AAA' rating to the securities contained in the Trust. The ratings are direct
reflections of the portfolios of the Trust, which will be composed solely of
securities covered by bond insurance policies that insure against default in the
payment of principal and interest on the securities. Since such policies have
been issued by MBIA, which has been assigned a 'AAA' claims paying ability
ratings by Standard & Poor's, Standard & Poor's has assigned a 'AAA' rating to
the units of the Trust and to the securities contained in the Trust. Please note
that securities covered by bond insurance policies that insure such securities
only as long as they remain in the Trust are rated 'AAA'.
Standard & Poor's will maintain serveillance on the 'AAA' rating until June
30th, 2001. On this date, the rating will be automatically withdrawn by Standard
& Poor's unless a post effective letter is requested by the Trust.
You have permission to use the name of Standard & Poor's Ratings Services, a
division of The McGraw-Hill Companies, Inc. and the above-assigned ratings in
connection with your dissemination of information relating to these units,
provided that it is understood that the ratings are not "market" ratings nor
recommendations to buy, hold, or sell the units of the Trust or the securities
contained in the Trust. Further, it should be understood the rating on the units
does not take into account the extent to which fund expenses or portfolio asset
sales for less than the fund's purchase price will reduce payment to the unit
holders of the interest and principal required to be paid on the portfolio
assets. Standard & Poor's reserves the right to advise its own clients,
subscribers, and the public of the ratings. Standard & Poor's relies on the
sponsor and its counsel, accountants, and other experts for the accuracy and
completeness of the information submitted in connection with the ratings.
Standard & Poor's does not independently verify the truth or accuracy of any
such information.
This letter evidences our consent to the use of the name of Standard & Poor's
Ratings Services, a division of The McGraw-Hill Companies, Inc. in connection
with the rating assigned to the units in the registration statement or
prospectus relating to the units or the Trust. However, this letter should not
be construed as a consent by us, within the meaning of Section 7 of the
Securities Act of 1933, to the use of the name of Standard & Poor's Ratings
Services, a division of The McGraw-Hill Companies, Inc. in connection with the
ratings assigned to the securities contained in the Trust. You are hereby
authorized to file a copy of this letter with the Securities and Exchange
Commission.
Please be certain to send us a copy of your final prospectus as soon as it
becomes available. Should we not receive it within a reasonable time after the
closing or should it not conform to the representations made to us, we reserve
the right to withdraw the rating.
We are pleased to have had the opportunity to be of service to you. If we can be
of further help, please do not hesitate to call upon us.
Sincerely,
/s/ Gary R. Arne
Managing Director
