Business: Select Asset Inc., 7% Corporate Backed Callable Trust Certificates, J.C. Penney Debenture-Backed Series 2006-1, Class A-1, price to the public $25 per certificate. The underlying securities are the 7 5/8% Debentures due 3/01/2097 issued by J.C. Penney Corp. (NYSE: JCP). The certificates pay 7.00% ($1.75) per annum distributions semiannually on 3/1 & 9/1 to holders of record on the day immediately preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). Certificates are callable at the option of the call warrant holder on or after 11/9/2011 at $25 per certificate plus accrued and unpaid interest. The distributions paid by the certificates are NOT eligible for the 15% tax rate on dividends as the payments are based on interest payments paid by the underlying debentures. Certificate ratings at the IPO were BBB- by S&P and Baa3 by Moody's. Select Asset Inc. is an indirect wholly-owned subsidiary of Lehman Brothers Inc. (NYSE: LEH). For further information on the Corporate Backed Callable Trust Certificates, see the IPO prospectus by clicking on the ‘Link to IPO Prospectus’ provided below.