8-K 1 sal03up2_sep.txt SEPTEMBER 8K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 25, 2003 SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. Mortgage Pass-Through Certificates, Series 2003-UP2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-83816-11 54-2121767 Pooling and Servicing Agreement) (Commission 54-2121768 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank Minnesota, N.A. 9062 Old Annapolis Road Columbia, Maryland 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On September 25, 2003 a distribution was made to holders of SALOMON BROTHERS MORTGAGE SECURITIES VII, INC., Mortgage Pass-Through Certificates, Series 2003-UP2 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-UP2 Trust, relating to the September 25, 2003 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SALOMON BROTHERS MORTGAGE SECURITIES VII, INC. Mortgage Pass-Through Certificates, Series 2003-UP2 Trust By: Wells Fargo Bank Minnesota, N.A. as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/4/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-UP2 Trust, relating to the September 25, 2003 distribution. EX-99.1

Salomon Brothers Mortgage Securities VII, Inc. Mortgage Pass-Through Certificates Record Date: 78/31/03 Distribution Date: 89/25/03 SBMSVII Series: 2003-UP2 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A-1 79549AXP9 SEN 4.00000% ~~131~~121,~~586~~787,~~000~~680.0025 ~~438~~405,~~620~~958.0093 96,~~798~~963,~~319~~149.7590 A-2 79549AXT1 SEN 4.00000% 9588,~~033~~316,~~000~~117.0040 ~~316~~294,~~776~~387.6606 65,~~716~~368,~~882~~304.6034 A-3 79549AXU8 SEN 4.00000% 95,~~117~~801,~~000~~128.0085 3019,~~390~~337.0010 32,~~315~~535,~~871~~386.1544 A-4 79549AXV6 SEN 4.00000% 45,~~883~~311,~~000~~500.00 ~~152~~151,~~943~~038.33 571,500.00 S-1 79549AXQ7 SEN 3.00000% 0.00 ~~328~~304,~~965~~469.0020 0.00 S-2 79549AXW4 SEN 3.00000% 0.00 ~~375~~348,~~082~~571.5086 0.00 PO-1 79549AXS3 SEN 0.00000% 87,~~564~~744,~~365~~384.0095 0.00 ~~819~~142,~~980~~898.0511 IO-1 79549AXR5 SEN 0.~~62708~~63795% 0.00 7672,~~689~~356.1884 0.00 PO-2 79549AXY0 SEN 0.00000% 5,~~424~~193,~~762~~283.0095 0.00 ~~231~~237,~~478~~243.0597 IO-2 79549AXX2 SEN 0.~~55803~~55866% 0.00 7570,~~698~~732.4994 0.00 B-1 79549AXZ7 SUB 7.00000% 4,~~333~~319,~~400~~526.0090 25,~~278~~197.1624 1314,~~873~~306.1085 B-2 79549AYA1 SUB 7.00000% 3,~~404~~393,~~800~~899.0075 19,~~861~~797.3375 1011,~~900~~241.2505 B-3 79549AYB9 SUB 7.00000% 2,~~476~~468,~~200~~272.0061 14,~~444~~398.5026 78,~~927~~175.3925 B-4 79549AYD5 SUB 7.00000% 1,~~083~~079,~~300~~831.0088 6,~~319~~299.2502 3,~~468~~576.1255 B-5 79549AYE3 SUB 7.00000% ~~773~~771,~~700~~223.0005 4,~~513~~498.2580 2,~~476~~554.9539 B-6 79549AYF0 SUB 7.00000% 1,~~857~~851,~~869~~921.4560 10,~~837~~802.5788 56,~~945~~133.2481 R-II ALOMO03UP2R SEN 7.00000% ~~100~~0.00 0.5800 ~~100~~0.00 Totals ~~309~~288,~~537~~038,~~496~~771.4519 1,~~876~~747,~~419~~846.80 21 15,~~498~~864,~~722~~470.6566

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~121~~114,~~787~~824,~~680~~530.2535 107,~~236~~369,~~939~~108.7583 0.00 A-2 0.00 8882,~~316~~947,~~117~~813.4006 75,~~033~~662,~~659~~691.2640 0.00 A-3 0.00 53,~~801~~265,~~128~~742.8541 32,~~346~~554,~~261~~723.1554 0.00 A-4 0.00 4544,~~311~~740,~~500~~000.00 ~~724~~722,~~443~~538.33 0.00 S-1 0.00 0.00 ~~328~~304,~~965~~469.0020 0.00 S-2 0.00 0.00 ~~375~~348,~~082~~571.5086 0.00 PO-1 0.00 7,~~744~~601,~~384~~486.9584 ~~819~~142,~~980~~898.0511 0.00 IO-1 0.00 0.00 7672,~~689~~356.1884 0.00 PO-2 0.00 54,~~193~~956,~~283~~039.9599 ~~231~~237,~~478~~243.0597 0.00 IO-2 0.00 0.00 7570,~~698~~732.4994 0.00 B-1 0.00 4,~~319~~305,~~526~~220.9005 39,~~151~~504.2609 0.00 B-2 0.00 3,~~393~~382,~~899~~658.7570 3031,~~761~~038.5880 0.00 B-3 0.00 2,~~468~~460,~~272~~097.6136 22,~~371~~573.8951 0.00 B-4 0.00 1,~~079~~076,~~831~~255.8834 9,~~787~~875.3757 0.00 B-5 0.00 ~~771~~768,~~223~~668.0566 67,~~990~~053.2019 0.00 B-6 20.6100 1,~~851~~845,~~921~~787.6079 16,~~782~~936.8169 0.00 R-II 0.00 0.00 ~~100~~0.5800 0.00 Totals 20.6100 ~~288~~272,~~038~~174,~~771~~300.1955 2317,~~375~~612,~~142~~316.4587 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1 131,586,000.00 ~~131~~121,~~586~~787,~~000~~680.0025 ~~635~~596,~~978~~669.4586 96,~~162~~366,~~341~~480.3003 0.00 0.00 A-2 95,033,000.00 9588,~~033~~316,~~000~~117.0040 ~~164~~166,~~437~~539.3775 65,~~552~~201,~~445~~764.2260 0.00 0.00 A-3 9,117,000.00 95,~~117~~801,~~000~~128.0085 8178,~~176~~654.5275 32,~~234~~456,~~694~~731.6469 0.00 0.00 A-4 45,883,000.00 45,~~883~~311,~~000~~500.00 1317,~~991~~729.0152 ~~557~~553,~~508~~770.9948 0.00 0.00 PO-1 8,564,365.00 87,~~564~~744,~~365~~384.0095 4339,~~897~~710.5865 ~~776~~103,~~082~~187.47 0.00 0.00 IO-1 0.00 0.00 0.00 0.00 0.00 0.00 PO-2 5,424,762.00 5,~~424~~193,~~762~~283.0095 89,~~762~~851.6941 ~~222~~227,~~715~~392.3656 0.00 0.00 B-1 4,333,400.00 4,~~333~~319,~~400~~526.0090 1314,~~873~~306.1085 0.00 0.00 0.00 B-2 3,404,800.00 3,~~404~~393,~~800~~899.0075 1011,~~900~~241.2505 0.00 0.00 0.00 B-3 2,476,200.00 2,~~476~~468,~~200~~272.0061 78,~~927~~175.3925 0.00 0.00 0.00 B-4 1,083,300.00 1,~~083~~079,~~300~~831.0088 3,~~468~~576.1255 0.00 0.00 0.00 B-5 773,700.00 ~~773~~771,~~700~~223.0005 2,~~476~~554.9539 0.00 0.00 0.00 B-6 1,857,869.45 1,~~857~~851,~~869~~921.4560 56,~~945~~133.2481 0.00 0.00 20.6100 R-II 100.00 ~~100~~0.00 20.4500 970.5500 0.00 0.00 Totals 309,537,496.45 ~~309~~288,~~537~~038,~~496~~771.4519 ~~992~~955,~~837~~143.1284 2014,~~505~~909,~~885~~326.5383 0.00 20.6100 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1 96,~~798~~963,~~319~~149.7590 ~~121~~114,~~787~~824,~~680~~530.2535 0.~~92553676~~87261966 96,~~798~~963,~~319~~149.7590 A-2 65,~~716~~368,~~882~~304.6034 8882,~~316~~947,~~117~~813.4006 0.~~92932052~~87283168 65,~~716~~368,~~882~~304.6034 A-3 32,~~315~~535,~~871~~386.1544 53,~~801~~265,~~128~~742.8541 0.~~63629800~~35820362 32,~~315~~535,~~871~~386.1544 A-4 571,500.00 4544,~~311~~740,~~500~~000.00 0.~~98754441~~97508881 571,500.00 PO-1 ~~819~~142,~~980~~898.0511 7,~~744~~601,~~384~~486.9584 0.~~90425676~~88757156 ~~819~~142,~~980~~898.0511 IO-1 0.00 0.00 0.00000000 0.00 PO-2 ~~231~~237,~~478~~243.0597 54,~~193~~956,~~283~~039.9599 0.~~95732936~~91359584 ~~231~~237,~~478~~243.0597 B-1 1314,~~873~~306.1085 4,~~319~~305,~~526~~220.9005 0.~~99679856~~99349703 1314,~~873~~306.1085 B-2 1011,~~900~~241.2505 3,~~393~~382,~~899~~658.7570 0.~~99679856~~99349703 1011,~~900~~241.2505 B-3 78,~~927~~175.3925 2,~~468~~460,~~272~~097.6136 0.~~99679857~~99349704 78,~~927~~175.3925 B-4 3,~~468~~576.1255 1,~~079~~076,~~831~~255.8834 0.~~99679856~~99349704 3,~~468~~576.1255 B-5 2,~~476~~554.9539 ~~771~~768,~~223~~668.0566 0.~~99679857~~99349704 2,~~476~~554.9539 B-6 56,~~947~~133.8581 1,~~851~~845,~~921~~787.6079 0.~~99679856~~99349704 56,~~945~~133.2481 R-II ~~100~~0.00 0.00 0.00000000 ~~100~~0.00 Totals 2115,~~498~~864,~~725~~470.2666 ~~288~~272,~~038~~174,~~771~~300.1955 0.~~93054565~~87929347 2115,~~498~~864,~~722~~470.6566

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1 131,586,000.00 ~~1000~~925.~~00000000~~53676113 4.~~83317716~~53444789 6948.~~63006171~~38265492 0.00000000 A-2 95,033,000.00 ~~1000~~929.~~00000000~~32052445 1.~~73031863~~75244126 6854.~~94915682~~73640314 0.00000000 A-3 9,117,000.00 ~~1000~~636.~~00000000~~29799825 8.~~90386311~~62726226 ~~354~~269.~~79813974~~46711528 0.00000000 A-4 45,883,000.00 ~~1000~~987.~~00000000~~54440643 0.~~30492797~~38640717 12.~~15066561~~06918641 0.00000000 S-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 S-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 8,564,365.00 ~~1000~~904.~~00000000~~25676043 54.~~12560826~~63673022 9012.~~61763131~~04846711 0.00000000 IO-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO-2 5,424,762.00 ~~1000~~957.~~00000000~~32936302 1.~~61531326~~81600778 41.~~05532372~~91751822 0.00000000 IO-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,333,400.00 ~~1000~~996.~~00000000~~79856464 3.~~20143536~~30152998 0.00000000 0.00000000 B-2 3,404,800.00 ~~1000~~996.~~00000000~~79856379 3.~~20143621~~30153019 0.00000000 0.00000000 B-3 2,476,200.00 ~~1000~~996.~~00000000~~79856635 3.~~20143365~~30153057 0.00000000 0.00000000 B-4 1,083,300.00 ~~1000~~996.~~00000000~~79855996 3.~~20144004~~30153235 0.00000000 0.00000000 B-5 773,700.00 ~~1000~~996.~~00000000~~79856534 3.~~20143466~~30152514 0.00000000 0.00000000 B-6 1,857,869.45 ~~1000~~996.~~00000000~~79856408 3.~~20003109~~30152907 0.00000000 0.00000000 R-II 100.00 ~~1000~~0.00000000 240.~~50000000~~00000000 ~~975~~0.~~50000000~~00000000 0.00000000 (2) All classes are per $1,000.00 denomination.

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1 0.00000000 7452.~~46323887~~91710288 ~~925~~872.~~53676113~~61965825 0.~~92553676~~87261966 7452.~~46323887~~91710288 A-2 0.00000000 7056.~~67947555~~48884430 ~~929~~872.~~32052445~~83168015 0.~~92932052~~87283168 7056.~~67947555~~48884430 A-3 0.00000000 ~~363~~278.~~70200175~~09437754 ~~636~~358.~~29799825~~20362071 0.~~63629800~~35820362 ~~363~~278.~~70200175~~09437754 A-4 0.00000000 12.45559357 ~~987~~975.~~54440643~~08881285 0.~~98754441~~97508881 12.45559357 S-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 S-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO-1 0.00000000 9516.~~74323957~~68519616 ~~904~~887.~~25676043~~57156427 0.~~90425676~~88757156 9516.~~74323957~~68519616 IO-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO-2 0.00000000 4243.~~67063698~~73352601 ~~957~~913.~~32936302~~59583886 0.~~95732936~~91359584 4243.~~67063698~~73352601 IO-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 3.~~20143536~~30152998 ~~996~~993.~~79856464~~49703466 0.~~99679856~~99349703 3.~~20143536~~30152998 B-2 0.00000000 3.~~20143621~~30153019 ~~996~~993.~~79856379~~49703360 0.~~99679856~~99349703 3.~~20143621~~30153019 B-3 0.00000000 3.~~20143365~~30153057 ~~996~~993.~~79856635~~49703578 0.~~99679857~~99349704 3.~~20143365~~30153057 B-4 0.00000000 3.~~20144004~~30153235 ~~996~~993.~~79855996~~49703683 0.~~99679856~~99349704 3.~~20144004~~30153235 B-5 0.00000000 3.~~20143466~~30152514 ~~996~~993.~~79856534~~49704020 0.~~99679857~~99349704 3.~~20143466~~30152514 B-6 0.~~00140483~~00000000 3.~~20143592~~30152907 ~~996~~993.~~79856408~~49703500 0.~~99679856~~99349704 3.~~20003109~~30152907 R-II 0.00000000 ~~1,000~~0.00000000 0.00000000 0.00000000 ~~1,000~~0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1 131,586,000.00 4.00000% ~~131~~121,~~586~~787,~~000~~680.0025 ~~438~~405,~~620~~958.0093 0.00 0.00 A-2 95,033,000.00 4.00000% 9588,~~033~~316,~~000~~117.0040 ~~316~~294,~~776~~387.6706 0.00 0.00 A-3 9,117,000.00 4.00000% 95,~~117~~801,~~000~~128.0085 3019,~~390~~337.0010 0.00 0.00 A-4 45,883,000.00 4.00000% 45,~~883~~311,~~000~~500.00 ~~152~~151,~~943~~038.33 0.00 0.00 S-1 0.00 3.00000% ~~131~~121,~~586~~787,~~000~~680.0025 ~~328~~304,~~965~~469.0020 0.00 0.00 S-2 0.00 3.00000% ~~150~~139,~~033~~428,~~000~~746.0025 ~~375~~348,~~082~~571.5087 0.00 0.00 PO-1 8,564,365.00 0.00000% 87,~~564~~744,~~365~~384.0095 0.00 0.00 0.00 IO-1 0.00 0.~~62708~~63795% ~~146~~136,~~754~~104,~~369~~151.8774 7672,~~689~~356.1884 0.00 0.00 PO-2 5,424,762.00 0.00000% 5,~~424~~193,~~762~~283.0095 0.00 0.00 0.00 IO-2 0.00 0.~~55803~~55866% ~~162~~151,~~783~~934,~~126~~619.5845 7570,~~698~~732.4994 0.00 0.00 B-1 4,333,400.00 7.00000% 4,~~333~~319,~~400~~526.0090 25,~~278~~197.1724 0.00 0.00 B-2 3,404,800.00 7.00000% 3,~~404~~393,~~800~~899.0075 19,~~861~~797.3375 0.00 0.00 B-3 2,476,200.00 7.00000% 2,~~476~~468,~~200~~272.0061 14,~~444~~398.5026 0.00 0.00 B-4 1,083,300.00 7.00000% 1,~~083~~079,~~300~~831.0088 6,~~319~~299.2502 0.00 0.00 B-5 773,700.00 7.00000% ~~773~~771,~~700~~223.0005 4,~~513~~498.2580 0.00 0.00 B-6 1,857,869.45 7.00000% 1,~~857~~851,~~869~~921.4560 10,~~837~~802.5788 0.00 0.00 R-II 100.00 7.00000% ~~100~~0.00 0.5800 0.00 0.00 Totals 309,537,496.45 1,~~876~~747,~~419~~846.8222 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1 0.00 0.00 ~~438~~405,~~620~~958.0093 0.00 ~~121~~114,~~787~~824,~~680~~530.2535 A-2 0.00 0.00 ~~316~~294,~~776~~387.6606 0.00 8882,~~316~~947,~~117~~813.4006 A-3 0.00 0.00 3019,~~390~~337.0010 0.00 53,~~801~~265,~~128~~742.8541 A-4 0.00 0.00 ~~152~~151,~~943~~038.33 0.00 4544,~~311~~740,~~500~~000.00 S-1 0.00 0.00 ~~328~~304,~~965~~469.0020 0.00 ~~121~~114,~~787~~824,~~680~~530.2535 S-2 0.00 0.00 ~~375~~348,~~082~~571.5086 0.00 ~~139~~130,~~428~~953,~~746~~555.2547 PO-1 0.00 0.00 0.00 0.00 7,~~744~~601,~~384~~486.9584 IO-1 0.00 0.00 7672,~~689~~356.1884 0.00 ~~136~~128,~~104~~965,~~151~~905.7435 PO-2 0.00 0.00 0.00 0.00 54,~~193~~956,~~283~~039.9599 IO-2 0.00 0.00 7570,~~698~~732.4994 0.00 ~~151~~143,~~934~~208,~~619~~395.4518 B-1 0.00 0.00 25,~~278~~197.1624 0.00 4,~~319~~305,~~526~~220.9005 B-2 0.00 0.00 19,~~861~~797.3375 0.00 3,~~393~~382,~~899~~658.7570 B-3 0.00 0.00 14,~~444~~398.5026 0.00 2,~~468~~460,~~272~~097.6136 B-4 0.00 0.00 6,~~319~~299.2502 0.00 1,~~079~~076,~~831~~255.8834 B-5 0.00 0.00 4,~~513~~498.2580 0.00 ~~771~~768,~~223~~668.0566 B-6 0.00 0.00 10,~~837~~802.5788 0.00 1,~~851~~845,~~921~~787.6079 R-II 0.00 0.00 0.5800 0.00 0.00 Totals 0.00 0.00 1,~~876~~747,~~419~~846.8021 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1 131,586,000.00 4.00000% ~~1000~~925.~~00000000~~53676113 3.~~33333333~~08512251 0.00000000 0.00000000 A-2 95,033,000.00 4.00000% ~~1000~~929.~~00000000~~32052445 3.~~33333337~~09773510 0.00000000 0.00000000 A-3 9,117,000.00 4.00000% ~~1000~~636.~~00000000~~29799825 32.~~33333333~~12099375 0.00000000 0.00000000 A-4 45,883,000.00 4.00000% ~~1000~~987.~~00000000~~54440643 3.~~33333326~~29181462 0.00000000 0.00000000 S-1 0.00 3.00000% ~~1000~~925.~~00000000~~53676113 2.~~50000000~~31384190 0.00000000 0.00000000 S-2 0.00 3.00000% ~~1000~~929.~~00000000~~32052448 2.~~50000000~~32330134 0.00000000 0.00000000 PO-1 8,564,365.00 0.00000% ~~1000~~904.~~00000000~~25676043 0.00000000 0.00000000 0.00000000 IO-1 0.00 0.~~62708~~63795% ~~1000~~927.~~00000000~~42827257 0.~~52256829~~49304726 0.00000000 0.00000000 PO-2 5,424,762.00 0.00000% ~~1000~~957.~~00000000~~32936302 0.00000000 0.00000000 0.00000000 IO-2 0.00 0.~~55803~~55866% ~~1000~~933.~~00000000~~35607100 0.~~46502664~~43452255 0.00000000 0.00000000 B-1 4,333,400.00 7.00000% ~~1000~~996.~~00000000~~79856464 5.~~83333410~~81465824 0.00000000 0.00000000 B-2 3,404,800.00 7.00000% ~~1000~~996.~~00000000~~79856379 5.~~83333235~~81465872 0.00000000 0.00000000 B-3 2,476,200.00 7.00000% ~~1000~~996.~~00000000~~79856635 5.~~83333333~~81465956 0.00000000 0.00000000 B-4 1,083,300.00 7.00000% ~~1000~~996.~~00000000~~79855996 5.~~83333333~~81465891 0.00000000 0.00000000 B-5 773,700.00 7.00000% ~~1000~~996.~~00000000~~79856534 5.~~83333333~~81465684 0.00000000 0.00000000 B-6 1,857,869.45 7.00000% ~~1000~~996.~~00000000~~79856408 5.~~83333237~~81466044 0.00000000 0.00000000 R-II 100.00 7.00000% ~~1000~~0.00000000 50.~~80000000~~00000000 0.00000000 0.00000000 (5) All classes are per $1,000.00 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1 0.00000000 0.00000000 3.~~33333333~~08512251 0.00000000 ~~925~~872.~~53676113~~61965825 A-2 0.00000000 0.00000000 3.~~33333326~~09773510 0.00000000 ~~929~~872.~~32052445~~83168015 A-3 0.00000000 0.00000000 32.~~33333333~~12099375 0.00000000 ~~636~~358.~~29799825~~20362071 A-4 0.00000000 0.00000000 3.~~33333326~~29181462 0.00000000 ~~987~~975.~~54440643~~08881285 S-1 0.00000000 0.00000000 2.~~50000000~~31384190 0.00000000 ~~925~~872.~~53676113~~61965825 S-2 0.00000000 0.00000000 2.~~50000000~~32330127 0.00000000 ~~929~~872.~~32052448~~83168016 PO-1 0.00000000 0.00000000 0.00000000 0.00000000 ~~904~~887.~~25676043~~57156427 IO-1 0.00000000 0.00000000 0.~~52256829~~49304726 0.00000000 ~~927~~878.~~42827257~~78749685 PO-2 0.00000000 0.00000000 0.00000000 0.00000000 ~~957~~913.~~32936302~~59583886 IO-2 0.00000000 0.00000000 0.~~46502664~~43452255 0.00000000 ~~933~~879.~~35607100~~74962878 B-1 0.00000000 0.00000000 5.~~83333179~~81465824 0.00000000 ~~996~~993.~~79856464~~49703466 B-2 0.00000000 0.00000000 5.~~83333235~~81465872 0.00000000 ~~996~~993.~~79856379~~49703360 B-3 0.00000000 0.00000000 5.~~83333333~~81465956 0.00000000 ~~996~~993.~~79856635~~49703578 B-4 0.00000000 0.00000000 5.~~83333333~~81465891 0.00000000 ~~996~~993.~~79855996~~49703683 B-5 0.00000000 0.00000000 5.~~83333333~~81465684 0.00000000 ~~996~~993.~~79856534~~49704020 B-6 0.00000000 0.00000000 5.~~83333237~~81466044 0.00000000 ~~996~~993.~~79856408~~49703500 R-II 0.00000000 0.00000000 50.~~80000000~~00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2317,~~439~~672,~~629~~324.4395 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2317,~~439~~672,~~629~~324.4395 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 6460,~~486~~008.9808 Payment of Interest and Principal 2317,~~375~~612,~~142~~316.4587 Total Withdrawals (Pool Distribution Amount) 2317,~~439~~672,~~629~~324.4395 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 6460,~~486~~008.9808 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 6460,~~486~~008.9808

OTHER INFORMATION Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 01,252.0090

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 150,000.00 0.04845940% 150,000.00 0.~~05207632~~05511174% Fraud 6,190,749.93 2.00000000% 6,190,749.93 2.~~14927661~~27455345% Special Hazard 3,095,374.96 1.00000000% 3,095,374.96 1.~~07463830~~13727672% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 7.~~524413~~531712% Weighted Average Pass-Through Rate 7.~~274413~~281712% Weighted Average Maturity(Stepdown Calculation ) ~~211~~210 Beginning Scheduled Collateral Loan Count 2,~~974~~815 Number Of Loans Paid In Full ~~159~~132 Ending Scheduled Collateral Loan Count 2,~~815~~683 Beginning Scheduled Collateral Balance ~~309~~288,~~537~~038,~~496~~771.4519 Ending Scheduled Collateral Balance ~~288~~272,~~038~~174,~~771~~300.1953 Ending Actual Collateral Balance at 31-~~Jul~~Aug-2003 ~~288~~272,~~038~~174,~~771~~300.1953 Monthly P &I Constant 2,~~933~~762,~~746~~998.2716 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 2116,~~418~~381,~~093~~418.2694 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~288~~272,~~038~~174,~~771~~300.1953 Scheduled Principal ~~992~~955,~~839~~143.7383 Unscheduled Principal 2014,~~505~~909,~~885~~326.5383

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Mixed Fixed & Arm Weighted Average Coupon Rate 7.~~468571~~489652 7.~~574755~~569391 7.~~524413~~531712 Weighted Average Net Rate 7.~~218571~~239652 7.~~324755~~319391 7.~~274413~~281712 Weighted Average Maturity ~~144~~143 ~~272~~271 ~~211~~210 Beginning Loan Count 1,~~682~~601 1,~~292~~214 2,~~974~~815 Loans Paid In Full 8169 7863 ~~159~~132 Ending Loan Count 1,~~601~~532 1,~~214~~151 2,~~815~~683 Beginning Scheduled Balance ~~146~~136,~~754~~104,~~369~~151.8774 ~~162~~151,~~783~~934,~~126~~619.5845 ~~309~~288,~~537~~038,~~496~~771.4519 Ending scheduled Balance ~~136~~128,~~104~~965,~~151~~905.7435 ~~151~~143,~~934~~208,~~619~~395.4518 ~~288~~272,~~038~~174,~~771~~300.1953 Record Date 0708/31/2003 0708/31/2003 0708/31/2003 Principal And Interest Constant 1,~~625~~518,~~165~~056.5913 1,~~308~~244,~~580~~942.6803 2,~~933~~762,~~746~~998.2716 Scheduled Principal ~~711~~668,~~794~~578.3689 ~~281~~286,~~045~~564.3794 ~~992~~955,~~839~~143.7383 Unscheduled Principal 96,~~938~~469,~~423~~667.7750 108,~~567~~439,~~461~~659.7633 2014,~~505~~909,~~885~~326.5383 Scheduled Interest ~~913~~849,~~371~~477.2324 1958,~~027,535~~377.3109 1,~~940~~807,~~906~~854.5433 Servicing Fees 3028,~~573~~355.8204 3331,~~913~~653.1604 6460,~~486~~008.9808 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 0.00 0.00 0.00 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest ~~882~~821,~~797~~122.4120 ~~993~~926,~~622~~724.1505 1,~~876~~747,~~419~~846.5625 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~218571~~239652 7.~~324755~~319391 7.~~274413~~281712

Filing Compare · SALOMON BRO MOR SEC VII INC CITIGROUP MOR LN TR SER 2003-UP2