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CHASE SECURITIES INC.
NEW ISSUE TERMS
GE CAPITAL COMMERCIAL MORTGAGE CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2000-1
$638,225,454
General Electric Capital Corporation - Mortgage Loan Seller
The Chase Manhattan Bank - Mortgage Loan Seller
Bear, Stearns Funding, Inc. - Mortgage Loan Seller
GE Capital Commercial Mortgage Corporation - Depositor
GE Capital Loan Services, Inc. - Master Servicer
Lend Lease Asset Management, L.P. - Special Servicer
Wells Fargo Bank Minnesota, N.A.- Trustee
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<CAPTION>
SUMMARY OF TRANCHES
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INITIAL CLASS PASS- ASSUMED WEIGHTED PRINCIPAL OR
CERTIFICATE THROUGH FINAL AVERAGE NOTIONAL RATINGS
BALANCE OR APPROX. CREDIT RATE DISTRIBUTION LIFE PRINCIPAL (S&P/
CLASS NOTIONAL AMOUNT (1) SUPPORT DESCRIPTION DATE (5) (APPROX.) WINDOW (6) FITCH)
(6)
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<S> <C> <C> <C> <C> <C> <C> <C>
A-1 $112,539,000 23.500% Fixed 05/15/10 5.70 1/01-5/10 Aaa/AAA
A-2 $432,983,315 23.500% Fixed 12/15/10 9.78 5/10-12/10 Aaa/AAA
X $713,101,066 N/A WAC (I/O) (2) 12/15/10 9.22 1/01-12/20 Aaa/AAA
B $28,524,043 19.500% Fixed (WAC Cap)(3) 12/15/10 9.98 12/10-12/10 Aa2/AA
C $32,089,548 15.000% Fixed (WAC Cap)(3) 12/15/10 9.98 12/10-12/10 A2/A
D $8,913,763 13.750% Fixed (WAC Cap)(3) 12/15/10 9.98 12/10-12/10 A3/A-
E $23,175,785 10.500% Variable(4) 12/15/10 9.98 12/10-12/10 Baa2/BBB
F $8,913,763 9.250% Variable (4) N/A N/A N/A N/A
G $24,067,161 5.875% Fixed (WAC Cap)(3) N/A N/A N/A N/A
H $6,239,635 5.000% Fixed (WAC Cap)(3) N/A N/A N/A N/A
I $5,348,258 4.250% Fixed (WAC Cap)(3) N/A N/A N/A N/A
J $7,131,010 3.250% Fixed (WAC Cap)(3) N/A N/A N/A N/A
K $6,239,635 2.375% Fixed (WAC Cap)(3) N/A N/A N/A N/A
L $6,239,634 1.500% Fixed (WAC Cap)(3) N/A N/A N/A N/A
M $10,696,516 0.00% Fixed (WAC Cap)(3) N/A N/A N/A N/A
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Shaded rows are tranches not part of this offering, and are shown for
informational purposes only.
The Class S, Class R and Class LR certificates are not offered by the prospectus
supplement or represented in this table.
(1) Approximate, subject to a permitted variance of plus or minus 10%.
(2) The pass-through rate on the Class X certificates will be equal to the
excess, if any, of (1) the weighted average of the net interest rates on the
mortgage loans determined without regard to any reductions in the
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interest rate resulting from modification of the mortgage loans (in each case
converted to a rate expressed on the basis of a 360-day year consisting of
twelve 30-day months), over (2) the weighted average of the pass-through rates
of the other certificates (other than the residual certificates and the Class S
certificate) as described in the prospectus supplement.
(3) For any distribution date, if the weighted average of the net interest
rates on the mortgage loans determined without regard to any reductions in the
interest rate resulting from modification of the mortgage loans (in each case
converted to a rate expressed on the basis of a 360-day year consisting of
twelve 30-day months) as of the first day of the related due period is less than
the rate specified for the Class B, Class C, Class D, Class G, Class H, Class I,
Class J, class K, Class L or Class M certificates with respect to the
distribution date, then the pass-through rate for that class of certificates on
that distribution date will equal the weighted average net mortgage interest
rate.
(4) The pass-through rate applicable to the Class E and Class F
certificates on each distribution date will be equal to the weighted average of
the net interest rates on the mortgage loans determined without regard to any
reductions in the interest rate resulting from modification of the mortgage
loans (in each case converted to a rate expressed on the basis of a 360-day year
consisting of twelve 30-day months) minus [ ]% per annum.
(5) The assumed final distribution dates set forth in the prospectus
supplement have been determined on the basis of the assumptions described in
"Description of the Certificates--Assumed Final Distribution Date; Rated Final
Distribution Date" in the prospectus supplement. The rated final distribution
date for each class of certificates is January 15, 2033. See "Description of the
Certificates--Assumed Final Distribution Date; Rated Final Distribution Date" in
the prospectus supplement.
(6) The weighted average life and period during which distributions of
principal would be received (or applied in the case of the notional amount of
Class X certificates) set forth in the foregoing table with respect to each
class of certificates is based on the assumptions set forth under "Yield and
Maturity Considerations--Weighted Average Life" in the prospectus supplement and
on the assumptions that there are no prepayments (other than on each anticipated
prepayment date, if any), or losses on the mortgage loans and that there are no
extensions of maturity dates of mortgage loans.
COLLATERAL CHARACTERISTICS*
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<CAPTION>
<S> <C>
AGGREGATE PRINCIPAL BALANCE(1) $713,101,067
NO. OF MORTGAGE LOANS 105
NO. OF MORTGAGED PROPERTIES 116
NO. OF BALLOON MORTGAGE LOANS (2) 98
NO. OF MORTGAGE LOANS WITH ANTICIPATED PREPAYMENT DATES 2
NO. OF FULLY AMORTIZING MORTGAGE LOANS 5
RANGE OF MORTGAGE LOAN PRINCIPAL BALANCES $1,165,000 to $36,600,000
AVERAGE MORTGAGE LOAN PRINCIPAL BALANCE.. $6,791,439
RANGE OF MORTGAGE RATES 7.70% to 9.00%
WEIGHTED AVERAGE MORTGAGE RATE 8.201%
WEIGHTED AVERAGE ORIGINAL TERM TO MATURITY DATE (3) 119 months
RANGE OF REMAINING TERMS TO MATURITY DATE (3) 58-240 months
WEIGHTED AVERAGE REMAINING TERM TO MATURITY DATE (3) 117 months
WEIGHTED AVERAGE ORIGINAL AMORTIZATION TERM (4) 346 months
WEIGHTED AVERAGE REMAINING AMORTIZATION TERM (4) 345 months
WEIGHTED AVERAGE LOAN TO VALUE RATIO (LTV) (5) 71.34%
WEIGHTED AVERAGE LTV AS OF THE MATURITY DATE (3), (5) 63.60%
RANGE OF DEBT SERVICE COVERAGE RATIOS(5), (7) 1.05x to 2.42x
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WEIGHTED AVERAGE DEBT SERVICE COVERAGE RATIO(5), (7) 1.36x
WEIGHTED AVERAGE OCCUPANCY RATE(6) 96.73%
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* The collateral information contained herein will be superseded by the
description of the collateral contained in the final prospectus.
(1) Subject to a permitted variance of plus or minus 10%.
(2) Includes one mortgage loan that pays interest-only for its entire term,
representing approximately 0.77% of the aggregate principal balance of the pool
of mortgage loans as of the cut-off date, and another mortgage loan,
representing approximately 1.94% of the aggregate principal balance of the
mortgage loans as of the cut-off date, that pays interest-only for the first 25
months of its term.
(3) In the case of 2 mortgage loans, the anticipated prepayment date.
(4) Excludes the 1 mortgage loan that pays interest-only for its entire
term.
(5) Excludes 5 credit tenant lease loans, representing approximately 1.03%
of the aggregate principal balance of the pool of mortgage loans as of the
cut-off date, if the credit tenant lease loans are included, the range of
loan-to value rations is 34.83% to 89.62%, the weighted average loan-to-value
ratio is 71.50%, the weighted average loan-to-value ratio as of the maturity is
62.96%, the range of debt service coverage ratio is 1.04x to 2.42x and the
weighted average debt service coverage ratio is 1.35x.
(6) Excludes 12 hotel properties, representing approximately 14.12% of the
aggregate principal balance of the pool of mortgage loans as of the cut-off
date, which have occupancy rates that generally range from 54.60% to 80.20%; if
the mortgage loans secured by hotel properties are included, the range of
occupancy rates of the mortgaged properties is 54.60% to 100.00% and the
weighted average occupancy rate of the mortgage properties is 93.07%.
(7) Includes 1 mortgage loan with a debt service coverage ratio of 1.05x,
representing approximately 2.20% of the aggregate principal balance of the pool
of mortgage loans as of the cut-off date, which has a cash escrow.
Investors in the United States and Latin America may obtain a prospectus by
contacting Chase Securities Inc., 270 Park Avenue, 8th Floor, New York, New York
10017, Attention: Syndicate Desk, Telephone No.: 1 212 834 3813. Investors in
the European Economic Area may obtain a prospectus from Chase Manhattan
International Limited, 125 London Wall, London EC2Y 5AJ, United Kingdom,
Attention: Syndicate Desk, Telephone No.: 44 207 777 3334
Investors in the Untied States and Latin America who want to submit an order,
please call your salesperson at Chase Securities Inc. Investors in the European
Economic Area who want to place an order, please call your salesperson at Chase
Manhattan International Limited.
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