8-K 1 sal03up2.txt DECEMBER 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): December 26, 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 December 26, 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 December 26, 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 as Assistant Vice President By: Beth Belfield as Assistant Vice President Date: 1/8/04 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 December 26, 2003 distribution. EX-99.1

Salomon Brothers Mortgage Securities VII, Inc. Mortgage Pass-Through Certificates Record Date: 911/30/03 Distribution Date: 1012/2726/03 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% ~~114~~104,~~824~~076,~~530~~300.3592 ~~382~~346,~~748~~921.4300 53,~~435~~480,~~919~~554.2700 A-2 79549AXT1 SEN 4.00000% 8275,~~947~~327,~~813~~739.0622 ~~276~~251,~~492~~092.7146 43,~~199~~466,~~582~~586.7810 A-3 79549AXU8 SEN 4.00000% ~~3,265,742~~0.4100 ~~10,885~~0.8100 ~~1,858,993~~0.1200 A-4 79549AXV6 SEN 4.00000% 4443,~~740~~595,~~000~~652.0064 ~~149~~145,~~133~~318.3384 ~~571~~2,~~500~~006,273.0098 S-1 79549AXQ7 SEN 3.00000% 0.00 ~~287~~260,~~061~~190.3375 0.00 S-2 79549AXW4 SEN 3.00000% 0.00 ~~327~~297,~~383~~308.8948 0.00 PO-1 79549AXS3 SEN 0.00000% 7,~~601~~299,~~486~~159.8424 0.00 ~~167~~161,~~260~~216.7912 IO-1 79549AXR5 SEN 01.~~63371~~16012% 0.00 68113,~~105~~933.7773 0.00 PO-2 79549AXY0 SEN 0.00000% 4,~~956~~604,~~039~~605.9912 0.00 ~~246,267~~0.4500 IO-2 79549AXX2 SEN 01.~~55155~~26424% 0.00 65137,~~821~~803.8264 0.00 B-1 79549AXZ7 SUB 7.00000% 4,~~305~~277,~~220~~095.0565 2524,~~113~~949.7872 1415,~~042~~511.2148 B-2 79549AYA1 SUB 7.00000% 3,~~382~~360,~~658~~561.7005 19,~~732~~603.1827 1112,~~033~~187.1254 B-3 79549AYB9 SUB 7.00000% 2,~~460~~444,~~097~~026.3646 14,~~350~~256.5782 8,~~024~~863.0260 B-4 79549AYD5 SUB 7.00000% 1,~~076~~069,~~255~~224.3456 6,~~278~~237.1614 3,~~510~~877.3969 B-5 79549AYE3 SUB 7.00000% ~~768~~763,~~668~~647.6623 4,~~483~~454.9061 2,~~507~~769.1447 B-6 79549AYF0 SUB 7.00000% 1,~~845~~833,~~787~~729.7994 10,~~767~~696.1076 6,~~020~~650.3527 R-II ALOMO03UP2R SEN 7.00000% 0.00 0.00 0.00 Totals ~~272~~248,~~174~~651,~~300~~742.5503 1,~~648~~632,~~358~~767.7822 129,~~524~~164,~~660~~490.6425

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A-1 0.00 ~~109~~100,~~388~~595,~~611~~746.0992 53,~~818~~827,~~667~~475.7000 0.00 A-2 0.00 7871,~~748~~861,~~230~~153.2812 43,~~476~~717,~~075~~678.4956 0.00 A-3 0.00 ~~1,406,749~~0.2900 ~~1,869,878~~0.9300 0.00 A-4 0.00 4441,~~168~~589,~~500~~378.0066 ~~720~~2,~~633~~151,592.3382 0.00 S-1 0.00 0.00 ~~287~~260,~~061~~190.3375 0.00 S-2 0.00 0.00 ~~327~~297,~~383~~308.8948 0.00 PO-1 0.00 7,~~434~~137,~~226~~943.0512 ~~167~~161,~~260~~216.7912 0.00 IO-1 0.00 0.00 68113,~~105~~933.7773 0.00 PO-2 0.00 4,~~709~~604,~~772~~605.5312 ~~246,267~~0.4500 0.00 IO-2 0.00 0.00 65137,~~821~~803.8264 0.00 B-1 0.00 4,~~291~~261,~~177~~584.8416 3940,~~155~~461.9920 0.00 B-2 0.00 3,~~371~~348,~~625~~373.5951 3031,~~765~~790.3081 0.00 B-3 0.00 2,~~452~~435,~~073~~162.3385 2223,~~374~~120.5942 0.00 B-4 0.00 1,~~072~~065,~~744~~346.9587 910,~~788~~114.5583 0.00 B-5 0.00 ~~766~~760,~~161~~877.5176 67,~~991~~224.0408 0.00 B-6 0.00 1,~~839~~827,~~767~~079.4467 1617,~~787~~347.4503 0.00 R-II 0.00 0.00 0.00 0.00 Totals 0.00 ~~259~~239,~~649~~487,~~639~~251.9076 1410,~~173~~797,~~019~~257.4247 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 ~~114~~104,~~824~~076,~~530~~300.3592 ~~566~~570,~~175~~016.5135 42,~~869~~910,~~743~~537.7565 0.00 0.00 A-2 95,033,000.00 8275,~~947~~327,~~813~~739.0622 ~~146~~149,~~494~~096.2627 43,~~053~~317,~~088~~489.5283 0.00 0.00 A-3 9,117,000.00 ~~3,265,742~~0.4100 ~~64,847~~0.3500 ~~1,794,145~~0.7700 0.00 0.00 A-4 45,883,000.00 4443,~~740~~595,~~000~~652.0064 1986,~~935~~288.6692 ~~551~~1,~~564~~919,985.3406 0.00 0.00 PO-1 8,564,365.00 7,~~601~~299,~~486~~159.8424 3940,~~485~~044.5873 ~~127~~121,~~775~~171.2139 0.00 0.00 IO-1 0.00 0.00 0.00 0.00 0.00 0.00 PO-2 5,424,762.00 4,~~956~~604,~~039~~605.9912 ~~8,200~~0.4400 ~~238,067~~0.0100 0.00 0.00 B-1 4,333,400.00 4,~~305~~277,~~220~~095.0565 1415,~~042~~511.2148 0.00 0.00 0.00 B-2 3,404,800.00 3,~~382~~360,~~658~~561.7005 1112,~~033~~187.1254 0.00 0.00 0.00 B-3 2,476,200.00 2,~~460~~444,~~097~~026.3646 8,~~024~~863.0260 0.00 0.00 0.00 B-4 1,083,300.00 1,~~076~~069,~~255~~224.3456 3,~~510~~877.3969 0.00 0.00 0.00 B-5 773,700.00 ~~768~~763,~~668~~647.6623 2,~~507~~769.1447 0.00 0.00 0.00 B-6 1,857,869.45 1,~~845~~833,~~787~~729.7994 6,~~020~~650.3527 0.00 0.00 0.00 R-II 100.00 0.00 0.00 0.00 0.00 0.00 Totals 309,537,496.45 ~~272~~248,~~174~~651,~~300~~742.5503 ~~890~~895,~~276~~306.0332 118,~~634~~269,~~384~~183.6093 0.00 0.00 (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 53,~~435~~480,~~919~~554.2700 ~~109~~100,~~388~~595,~~611~~746.0992 0.~~83130889~~76448670 53,~~435~~480,~~919~~554.2700 A-2 43,~~199~~466,~~582~~586.7810 7871,~~748~~861,~~230~~153.2812 0.~~82864090~~75617052 43,~~199~~466,~~582~~586.7810 A-3 ~~1,858,993~~0.1200 ~~1,406,749~~0.2900 0.~~15429958~~00000000 ~~1,858,993~~0.1200 A-4 ~~571~~2,~~500~~006,273.0098 4441,~~168~~589,~~500~~378.0066 0.~~96263322~~90642239 ~~571~~2,~~500~~006,273.0098 PO-1 ~~167~~161,~~260~~216.7912 7,~~434~~137,~~226~~943.0512 0.~~86804171~~83344686 ~~167~~161,~~260~~216.7912 IO-1 0.00 0.00 0.00000000 0.00 PO-2 ~~246,267~~0.4500 4,~~709~~604,~~772~~605.5312 0.~~86819892~~84881238 ~~246,267~~0.4500 B-1 1415,~~042~~511.2148 4,~~291~~261,~~177~~584.8416 0.~~99025657~~98342737 1415,~~042~~511.2148 B-2 1112,~~033~~187.1254 3,~~371~~348,~~625~~373.5951 0.~~99025658~~98342737 1112,~~033~~187.1254 B-3 8,~~024~~863.0260 2,~~452~~435,~~073~~162.3385 0.~~99025657~~98342737 8,~~024~~863.0260 B-4 3,~~510~~877.3969 1,~~072~~065,~~744~~346.9587 0.~~99025658~~98342737 3,~~510~~877.3969 B-5 2,~~507~~769.1447 ~~766~~760,~~161~~877.5176 0.~~99025657~~98342737 2,~~507~~769.1447 B-6 6,~~020~~650.3527 1,~~839~~827,~~767~~079.4467 0.~~99025658~~98342737 6,~~020~~650.3527 R-II 0.00 0.00 0.00000000 0.00 Totals 129,~~524~~164,~~660~~490.6425 ~~259~~239,~~649~~487,~~639~~251.9076 0.~~83883097~~77369383 129,~~524~~164,~~660~~490.6425

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 ~~872~~790.~~61965825~~93749274 4.~~30270325~~33189207 3722.~~00806887~~11890057 0.00000000 A-2 95,033,000.00 ~~872~~792.~~83168015~~64822977 1.~~54150937~~56888944 4234.~~64927467~~90881936 0.00000000 A-3 9,117,000.00 ~~358~~0.~~20362071~~00000000 70.~~11279478~~00000000 ~~196~~0.~~79124383~~00000000 0.00000000 A-4 45,883,000.00 ~~975~~950.~~08881285~~14826058 01.~~43448903~~88062943 1241.~~02110455~~84523811 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 ~~887~~852.~~57156427~~27092026 4.~~61045040~~67573836 14.~~91940266~~14832156 0.00000000 IO-1 0.00 0.00000000 0.00000000 0.00000000 0.00000000 PO-2 5,424,762.00 ~~913~~848.~~59583886~~81237555 10.~~51166816~~00000000 430.~~88524510~~00000000 0.00000000 IO-2 0.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 4,333,400.00 ~~993~~987.~~49703466~~00688836 3.~~24046015~~57951724 0.00000000 0.00000000 B-2 3,404,800.00 ~~993~~987.~~49703360~~00688734 3.~~24046053~~57951715 0.00000000 0.00000000 B-3 2,476,200.00 ~~993~~987.~~49703578~~00688959 3.~~24045715~~57951700 0.00000000 0.00000000 B-4 1,083,300.00 ~~993~~987.~~49703683~~00688637 3.~~24045971~~57951629 0.00000000 0.00000000 B-5 773,700.00 ~~993~~987.~~49704020~~00688898 3.~~24045496~~57951402 0.00000000 0.00000000 B-6 1,857,869.45 ~~993~~987.~~49703500~~00688576 3.~~24045912~~57951416 0.00000000 0.00000000 R-II 100.00 0.00000000 0.00000000 0.00000000 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 4126.~~31077219~~45079264 ~~831~~764.~~30888613~~48670010 0.~~83130889~~76448670 4126.~~31077219~~45079264 A-2 0.00000000 4436.~~19078404~~47770880 ~~828~~756.~~64089611~~17052098 0.~~82864090~~75617052 4436.~~19078404~~47770880 A-3 0.00000000 ~~203~~0.~~90403861~~00000000 ~~154~~0.~~29958210~~00000000 0.~~15429958~~00000000 ~~203~~0.~~90403861~~00000000 A-4 0.00000000 1243.~~45559357~~72586753 ~~962~~906.~~63321928~~42239304 0.~~96263322~~90642239 1243.~~45559357~~72586753 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 1918.~~52985306~~82405993 ~~868~~833.~~04171121~~44686033 0.~~86804171~~83344686 1918.~~52985306~~82405993 IO-1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 PO-2 0.00000000 450.~~39691327~~00000000 ~~868~~848.~~19892375~~81237555 0.~~86819892~~84881238 450.~~39691327~~00000000 IO-2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 3.~~24046015~~57951724 ~~990~~983.~~25657451~~42736881 0.~~99025657~~98342737 3.~~24046015~~57951724 B-2 0.00000000 3.~~24046053~~57951715 ~~990~~983.~~25657601~~42737018 0.~~99025658~~98342737 3.~~24046053~~57951715 B-3 0.00000000 3.~~24045715~~57951700 ~~990~~983.~~25657459~~42736855 0.~~99025657~~98342737 3.~~24045715~~57951700 B-4 0.00000000 3.~~24045971~~57951629 ~~990~~983.~~25657713~~42737007 0.~~99025658~~98342737 3.~~24045971~~57951629 B-5 0.00000000 3.~~24045496~~57951402 ~~990~~983.~~25657231~~42737495 0.~~99025657~~98342737 3.~~24045496~~57951402 B-6 0.00000000 3.~~24045912~~57951416 ~~990~~983.~~25657589~~42737161 0.~~99025658~~98342737 3.~~24045912~~57951416 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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% ~~114~~104,~~824~~076,~~530~~300.3592 ~~382~~346,~~748~~921.4300 0.00 0.00 A-2 95,033,000.00 4.00000% 8275,~~947~~327,~~813~~739.0622 ~~276~~251,~~492~~092.7146 0.00 0.00 A-3 9,117,000.00 4.00000% ~~3,265,742~~0.4100 ~~10,885~~0.8100 0.00 0.00 A-4 45,883,000.00 4.00000% 4443,~~740~~595,~~000~~652.0064 ~~149~~145,~~133~~318.3384 0.00 0.00 S-1 0.00 3.00000% ~~114~~104,~~824~~076,~~530~~300.3592 ~~287~~260,~~061~~190.3375 0.00 0.00 S-2 0.00 3.00000% ~~130~~118,~~953~~923,~~555~~391.4785 ~~327~~297,~~383~~308.8948 0.00 0.00 PO-1 8,564,365.00 0.00000% 7,~~601~~299,~~486~~159.8424 0.00 0.00 0.00 IO-1 0.00 01.~~63371~~16012% ~~128~~117,~~965~~850,~~905~~765.3544 68113,~~105~~933.7773 0.00 0.00 PO-2 5,424,762.00 0.00000% 4,~~956~~604,~~039~~605.9912 0.00 0.00 0.00 IO-2 0.00 01.~~55155~~26424% ~~143~~130,~~208~~800,~~395~~976.1857 65137,~~821~~803.8264 0.00 0.00 B-1 4,333,400.00 7.00000% 4,~~305~~277,~~220~~095.0565 2524,~~113~~949.7872 0.00 0.00 B-2 3,404,800.00 7.00000% 3,~~382~~360,~~658~~561.7005 19,~~732~~603.1827 0.00 0.00 B-3 2,476,200.00 7.00000% 2,~~460~~444,~~097~~026.3646 14,~~350~~256.5782 0.00 0.00 B-4 1,083,300.00 7.00000% 1,~~076~~069,~~255~~224.3456 6,~~278~~237.1614 0.00 0.00 B-5 773,700.00 7.00000% ~~768~~763,~~668~~647.6623 4,~~483~~454.9061 0.00 0.00 B-6 1,857,869.45 7.00000% 1,~~845~~833,~~787~~729.7994 10,~~767~~696.1076 0.00 0.00 R-II 100.00 7.00000% 0.00 0.00 0.00 0.00 Totals 309,537,496.45 1,~~648~~632,~~358~~767.7822 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 ~~382~~346,~~748~~921.4300 0.00 ~~109~~100,~~388~~595,~~611~~746.0992 A-2 0.00 0.00 ~~276~~251,~~492~~092.7146 0.00 7871,~~748~~861,~~230~~153.2812 A-3 0.00 0.00 ~~10,885~~0.8100 0.00 ~~1,406,749~~0.2900 A-4 0.00 0.00 ~~149~~145,~~133~~318.3384 0.00 4441,~~168~~589,~~500~~378.0066 S-1 0.00 0.00 ~~287~~260,~~061~~190.3375 0.00 ~~109~~100,~~388~~595,~~611~~746.0992 S-2 0.00 0.00 ~~327~~297,~~383~~308.8948 0.00 ~~124~~113,~~323~~411,~~479~~668.5756 PO-1 0.00 0.00 0.00 0.00 7,~~434~~137,~~226~~943.0512 IO-1 0.00 0.00 68113,~~105~~933.7773 0.00 ~~123~~114,~~330~~173,~~478~~530.4967 PO-2 0.00 0.00 0.00 0.00 4,~~709~~604,~~772~~605.5312 IO-2 0.00 0.00 65137,~~821~~803.8264 0.00 ~~136~~125,~~319~~313,~~161~~721.4107 B-1 0.00 0.00 2524,~~113~~949.7872 0.00 4,~~291~~261,~~177~~584.8416 B-2 0.00 0.00 19,~~732~~603.1827 0.00 3,~~371~~348,~~625~~373.5951 B-3 0.00 0.00 14,~~350~~256.5782 0.00 2,~~452~~435,~~073~~162.3385 B-4 0.00 0.00 6,~~278~~237.1614 0.00 1,~~072~~065,~~744~~346.9587 B-5 0.00 0.00 4,~~483~~454.9061 0.00 ~~766~~760,~~161~~877.5176 B-6 0.00 0.00 10,~~767~~696.1076 0.00 1,~~839~~827,~~767~~079.4467 R-II 0.00 0.00 0.00 0.00 0.00 Totals 0.00 0.00 1,~~648~~632,~~358~~767.7822 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, 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% ~~872~~790.~~61965825~~93749274 2.~~90873216~~63645829 0.00000000 0.00000000 A-2 95,033,000.00 4.00000% ~~872~~792.~~83168015~~64822977 2.~~90943893~~64216072 0.00000000 0.00000000 A-3 9,117,000.00 4.00000% ~~358~~0.~~20362071~~00000000 10.~~19401228~~00000000 0.00000000 0.00000000 A-4 45,883,000.00 4.00000% ~~975~~950.~~08881285~~14826058 3.~~25029597~~16716082 0.00000000 0.00000000 S-1 0.00 3.00000% ~~872~~790.~~61965825~~93749274 21.~~18154918~~97734371 0.00000000 0.00000000 S-2 0.00 3.00000% ~~872~~792.~~83168016~~64822972 21.~~18207921~~98162058 0.00000000 0.00000000 PO-1 8,564,365.00 0.00000% ~~887~~852.~~57156427~~27092026 0.00000000 0.00000000 0.00000000 IO-1 0.00 01.~~63371~~16012% ~~878~~803.~~78749685~~04774259 0.~~46408001~~77635664 0.00000000 0.00000000 PO-2 5,424,762.00 0.00000% ~~913~~848.~~59583886~~81237555 0.00000000 0.00000000 0.00000000 IO-2 0.00 01.~~55155~~26424% ~~879~~803.~~74962878~~52908387 0.~~40435284~~84654745 0.00000000 0.00000000 B-1 4,333,400.00 7.00000% ~~993~~987.~~49703466~~00688836 5.~~79539853~~75753911 0.00000000 0.00000000 B-2 3,404,800.00 7.00000% ~~993~~987.~~49703360~~00688734 5.~~79540061~~75753936 0.00000000 0.00000000 B-3 2,476,200.00 7.00000% ~~993~~987.~~49703578~~00688959 5.~~79540021~~75753978 0.00000000 0.00000000 B-4 1,083,300.00 7.00000% ~~993~~987.~~49703683~~00688637 5.~~79540294~~75753715 0.00000000 0.00000000 B-5 773,700.00 7.00000% ~~993~~987.~~49704020~~00688898 5.~~79539873~~75754168 0.00000000 0.00000000 B-6 1,857,869.45 7.00000% ~~993~~987.~~49703500~~00688576 5.~~79540182~~75754125 0.00000000 0.00000000 R-II 100.00 7.00000% 0.00000000 0.00000000 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 2.~~90873216~~63645829 0.00000000 ~~831~~764.~~30888613~~48670010 A-2 0.00000000 0.00000000 2.~~90943893~~64216072 0.00000000 ~~828~~756.~~64089611~~17052098 A-3 0.00000000 0.00000000 10.~~19401228~~00000000 0.00000000 ~~154~~0.~~29958210~~00000000 A-4 0.00000000 0.00000000 3.~~25029597~~16716082 0.00000000 ~~962~~906.~~63321928~~42239304 S-1 0.00000000 0.00000000 21.~~18154918~~97734371 0.00000000 ~~831~~764.~~30888613~~48670010 S-2 0.00000000 0.00000000 21.~~18207921~~98162058 0.00000000 ~~828~~755.~~64089614~~91148987 PO-1 0.00000000 0.00000000 0.00000000 0.00000000 ~~868~~833.~~04171121~~44686033 IO-1 0.00000000 0.00000000 0.~~46408001~~77635664 0.00000000 ~~840~~777.~~38709443~~99067088 PO-2 0.00000000 0.00000000 0.00000000 0.00000000 ~~868~~848.~~19892375~~81237555 IO-2 0.00000000 0.00000000 0.~~40435284~~84654745 0.00000000 ~~837~~769.~~42808161~~82008948 B-1 0.00000000 0.00000000 5.~~79539853~~75753911 0.00000000 ~~990~~983.~~25657451~~42736881 B-2 0.00000000 0.00000000 5.~~79540061~~75753936 0.00000000 ~~990~~983.~~25657601~~42737018 B-3 0.00000000 0.00000000 5.~~79540021~~75753978 0.00000000 ~~990~~983.~~25657459~~42736855 B-4 0.00000000 0.00000000 5.~~79540294~~75753715 0.00000000 ~~990~~983.~~25657713~~42737007 B-5 0.00000000 0.00000000 5.~~79539873~~75754168 0.00000000 ~~990~~983.~~25657231~~42737495 B-6 0.00000000 0.00000000 5.~~79540182~~75754125 0.00000000 ~~990~~983.~~25657589~~42737161 R-II 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,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 1410,~~229~~849,~~722~~059.3892 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 1410,~~229~~849,~~722~~059.3892 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 5651,~~702~~802.9645 Payment of Interest and Principal 1410,~~173~~797,~~019~~257.4247 Total Withdrawals (Pool Distribution Amount) 1410,~~229~~849,~~722~~059.3892 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee 5651,~~702~~802.9645 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 5651,~~702~~802.9645

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0118,562.0062 0.00 0.00 0118,562.0062 30 Days 45 0 0 0 45 ~~300~~461,~~050~~462.0531 0.00 0.00 0.00 ~~300~~461,~~050~~462.0531 60 Days 1 0 01 0 12 5488,~~252~~374.4223 0.00 079,079.0097 0.00 54167,~~252~~454.4220 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 02 0 02 0.00 0.00 0268,408.0022 0.00 0268,408.0022 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 01 0 0 0 01 01,225,042.00 0.00 0.00 0.00 01,225,042.00 Totals 57 01 03 0 511 ~~354~~1,~~302~~774,878.4754 0118,562.0062 0347,488.0019 0.00 ~~354~~2,~~302~~240,929.4735 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~000000~~041305% 0.000000% 0.000000% 0.~~000000~~041305% 0.~~000000~~049350% 0.000000% 0.000000% 0.~~000000~~049350% 30 Days 0.~~155159~~206526% 0.000000% 0.000000% 0.000000% 0.~~155159~~206526% 0.~~115560~~192077% 0.000000% 0.000000% 0.000000% 0.~~115560~~192077% 60 Days 0.~~038790~~041305% 0.000000% 0.~~000000~~041305% 0.000000% 0.~~038790~~082610% 0.~~020894~~036785% 0.000000% 0.~~000000~~032916% 0.000000% 0.~~020894~~069700% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.~~000000~~082610% 0.000000% 0.~~000000~~082610% 0.000000% 0.000000% 0.~~000000~~111721% 0.000000% 0.~~000000~~111721% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.~~000000~~041305% 0.000000% 0.000000% 0.000000% 0.~~000000~~041305% 0.~~000000~~509906% 0.000000% 0.000000% 0.000000% 0.~~000000~~509906% Totals 0.~~193949~~289137% 0.~~000000~~041305% 0.~~000000~~123916% 0.000000% 0.~~193949~~454358% 0.~~136454~~738768% 0.~~000000~~049350% 0.~~000000~~144637% 0.000000% 0.~~136454~~932755%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0118,562.0062 0.00 0.00 0118,562.0062 30 Days 42 0 0 0 42 ~~300~~90,~~050~~785.0530 0.00 0.00 0.00 ~~300~~90,~~050~~785.0530 60 Days 1 0 0 1 0 1 ~~54,252.42~~ 0.00 0.00 79,079.97 0.00 5479,~~252~~079.4297 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 02 0 02 0.00 0.00 0268,408.0022 0.00 0268,408.0022 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 01 0 0 0 01 01,225,042.00 0.00 0.00 0.00 01,225,042.00 Totals 53 01 03 0 57 ~~354~~1,~~302~~315,827.4730 0118,562.0062 0347,488.0019 0.00 ~~354~~1,~~302~~781,878.4711 0-29 Days 0.~~000000~~071685% 0.000000% 0.000000% 0.~~000000~~071685% 0.~~000000~~103349% 0.000000% 0.000000% 0.~~000000~~103349% 30 Days 0.~~271555~~143369% 0.000000% 0.000000% 0.000000% 0.~~271555~~143369% 0.~~243289~~079136% 0.000000% 0.000000% 0.000000% 0.~~243289~~079136% 60 Days 0.~~067889~~000000% 0.000000% 0.~~000000~~071685% 0.000000% 0.~~067889~~071685% 0.~~043989~~000000% 0.000000% 0.~~000000~~068933% 0.000000% 0.~~043989~~068933% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.~~000000~~143369% 0.000000% 0.~~000000~~143369% 0.000000% 0.000000% 0.~~000000~~233968% 0.000000% 0.~~000000~~233968% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.~~000000~~071685% 0.000000% 0.000000% 0.000000% 0.~~000000~~071685% 01.~~000000~~067852% 0.000000% 0.000000% 0.000000% 01.~~000000~~067852% Totals 0.~~339443~~215054% 0.~~000000~~071685% 0.~~000000~~215054% 0.000000% 0.~~339443~~501792% 01.~~287279~~146988% 0.~~000000~~103349% 0.~~000000~~302901% 0.000000% 01.~~287279~~553238% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 03 0 0 0 03 0370,677.0001 0.00 0.00 0.00 0370,677.0001 60 Days 01 0 0 0 01 088,374.0023 0.00 0.00 0.00 088,374.0023 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 04 0 0 0 04 0459,051.0024 0.00 0.00 0.00 0459,051.0024 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 0.~~000000~~292398% 0.000000% 0.000000% 0.000000% 0.~~000000~~292398% 0.~~000000~~295294% 0.000000% 0.000000% 0.000000% 0.~~000000~~295294% 60 Days 0.~~000000~~097466% 0.000000% 0.000000% 0.000000% 0.~~000000~~097466% 0.~~000000~~070402% 0.000000% 0.000000% 0.000000% 0.~~000000~~070402% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 0.~~000000~~389864% 0.000000% 0.000000% 0.000000% 0.~~000000~~389864% 0.~~000000~~365695% 0.000000% 0.000000% 0.000000% 0.~~000000~~365695%

CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 150,000.00 0.04845940% 150,000.00 0.~~05777016~~06263381% Fraud 6,190,749.93 2.00000000% 6,190,749.93 2.~~38427056~~58500187% Special Hazard 3,095,374.96 1.00000000% 3,095,374.96 1.~~19213528~~29250093% Limit of Subordinate's Exposure to Certain Types of Losses

COLLATERAL STATEMENT Collateral Description Mixed Fixed & Arm Weighted Average Gross Coupon 78.~~517514~~129779% Weighted Average Pass-Through Rate 7.~~267514~~879779% Weighted Average Maturity(Stepdown Calculation ) ~~209~~207 Beginning Scheduled Collateral Loan Count 2,~~683~~490 Number Of Loans Paid In Full ~~105~~69 Ending Scheduled Collateral Loan Count 2,~~578~~421 Beginning Scheduled Collateral Balance ~~272~~248,~~174~~651,~~300~~742.5301 Ending Scheduled Collateral Balance ~~259~~239,~~649~~487,~~639~~251.9074 Ending Actual Collateral Balance at 30-~~Sep~~Nov-2003 ~~259~~240,~~649~~248,~~639~~531.9058 Monthly P &I Constant 2,~~595~~589,~~337~~250.8790 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Class A Optimal Amount 129,~~953~~810,~~361~~680.2111 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans ~~259~~239,~~649~~487,~~639~~251.9074 Scheduled Principal ~~890~~904,~~276~~681.0405 Unscheduled Principal 118,~~634~~259,~~384~~809.5922

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.~~471117~~976567 78.~~559297~~267823 78.~~517514~~129779 Weighted Average Net Rate 7.~~221117~~726567 78.~~309297~~017823 7.~~267514~~879779 Weighted Average Maturity ~~142~~140 ~~270~~268 ~~209~~207 Beginning Loan Count 1,~~532~~423 1,~~151~~067 2,~~683~~490 Loans Paid In Full 5928 4641 ~~105~~69 Ending Loan Count 1,~~473~~395 1,~~105~~026 2,~~578~~421 Beginning Scheduled Balance ~~128~~117,~~965~~850,~~905~~765.3544 ~~143~~130,~~208~~800,~~395~~976.1857 ~~272~~248,~~174~~651,~~300~~742.5301 Ending scheduled Balance ~~123~~114,~~330~~173,~~478~~530.4967 ~~136~~125,~~319~~313,~~161~~721.4107 ~~259~~239,~~649~~487,~~639~~251.9074 Record Date 0911/30/2003 0911/30/2003 0911/30/2003 Principal And Interest Constant 1,~~440~~428,~~840~~896.7115 1,~~154~~160,~~497~~354.1675 2,~~595~~589,~~337~~250.8790 Scheduled Principal ~~637~~645,~~907~~525.9073 ~~252~~259,~~368~~155.1432 ~~890~~904,~~276~~681.0405 Unscheduled Principal 43,~~997~~031,~~518~~709.9604 65,~~636~~228,~~865~~100.6318 118,~~634~~259,~~384~~809.5922 Scheduled Interest ~~802~~783,~~932~~370.8142 ~~902~~901,~~129~~199.0243 1,~~705~~684,~~061~~569.8385 Servicing Fees 2624,~~867~~552.8925 2927,~~835~~250.0720 5651,~~702~~802.9645 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 0.0001 0.0001 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 ~~776~~758,~~064~~818.9217 ~~872~~873,~~293~~949.9522 1,~~648~~632,~~358~~767.8739 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.000000 0.000000 0.000000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 7.~~221117~~726567 78.~~309297~~017823 7.~~267514~~879779

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