Canada Mortgage Acceptance Corporation - Mortgage Pass-Through Certificates, Series 2006-C5, Class A-2

    TORONTO, May 8 /CNW/ - Canada Mortgage Acceptance Corporation ("CMAC")
announces that neither it nor GMAC Residential Funding of Canada, Limited (the
"Administrator") has been able to arrange for one or more purchasers of
Additional Class VFC Certificates, the proceeds of which would be utilized to
fund the distributions to reduce the Certificate Balance of the Mortgage
Pass-Through Certificates, Series 2006-C5, Class A-2 (the "Class A-2
Certificates") to zero on May 15, 2009 (the "Targeted Final Payment Date") on
terms permitted by the pooling and servicing agreement. As a result, the Class
A-2 Certificates will not receive final distributions on the Targeted Final
Distribution Date, but will instead receive the amount of accrued and unpaid
interest distributable thereon and a partial distribution of principal on the
Targeted Final Distribution Date and will receive principal and interest
distributions on subsequent monthly distribution dates in accordance with
their terms and as described in the prospectus relating to the Class A-2
Certificates. The inability of CMAC and the Administrator to arrange for the
Class A-2 Certificates to receive distributions to reduce the Certificate
Balance of such Class of Certificates to zero on Targeted Final Distribution
Date does not constitute an Event of Default and does not affect the timing of
payments on any other Series 2006-C5 Offered Certificates of CMAC.

    CMAC was created as a special purpose entity and has issued Mortgage
Pass-Through Certificates that entitle the holders thereof to: (i) the cash
flows derived from discrete pools of mortgages, hypothecs or other charges on
real or immovable property situate in Canada, or interests therein, and any
other rights, interests, benefits and assets acquired by CMAC pursuant to the
related securitization agreements (including the proceeds thereof and any
related security) (collectively, "Assets"), that by their terms convert into
cash within a finite time period; and (ii) any rights and other assets
designed to assure the servicing or timely distribution of proceeds from the
Assets to the holders of the related Mortgage Pass-Through Certificates. The
Mortgage Pass-Through Certificates issued by CMAC evidence whole or undivided
ownership interests in, or interests in pools of, particular Assets. CMAC does
not carry on any business except in respect of the issuance of Mortgage
Pass-Through Certificates and the acquisition of Assets.

For further information:

For further information: Inquiries should be directed to Michele D.
McCarthy of CMAC at (416) 734-3067

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