uly 7, 2010 -- U.S. Bank Trust National Association serves as trustee for the above-referenced Trust formed pursuant to the terms of the Base Trust Agreement dated as of September 26, 2003 as supplemented by the Series Supplement Series 2004-1, dated as of January 23, 2004. The Trustee has received notice that the Call Warrant Holder has exercised its right to purchase the Underlying Securities of the Trust on July 15, 2010. The Call Warrant Holder has given notice to the Trustee to exercise 30 Call Warrants for the purchase of $15,000,000 of the Underlying Securities held by the Trust, and agrees to make payment equal to the Warrant Exercise Purchase Price for the Underlying Securities being purchased pursuant to the exercise of the Call Warrants, which includes accrued and unpaid interest to and including the Warrant Exercise Date, determined to be July 15, 2010. THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE WARRANT EXERCISE PURCHASE PRICE ON THE WARRANT EXERCISE DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS WILL IN FACT BE EXERCISED ON THE WARRANT EXERCISE DATE. If the Trustee receives the Warrant Exercise Purchase Price by 11:00 a.m. (New York City time) on the Redemption Date, then (i) the Class A-1 Certificates issued by the Trust will be redeemed in whole on the Redemption Date at a price of 100% of the Stated Amount of the Class A-1 Certificates to be redeemed plus accrued and unpaid interest to the Redemption Date (a total redemption price of $25.62500000 per Class A-1 Certificate to be redeemed (of this $25 represents re-payment of principal and $0.62500000 represents accrued but unpaid interest)) and (ii) the Class A-2 Certificates will be redeemed on the Redemption Date by payment of accrued and unpaid interest on the Notional Amount of the Class A-2 Certificates to be redeemed to the date of redemption, plus the Make Whole Amount (a total redemption price of $73.54381133 per thousand). If the Trustee does not receive the Warrant Exercise Purchase Price, then (i) the Certificates issued by the Trust will not be redeemed and will continue to accrue distributions as if no exercise notice had been given and (ii) the Call Warrant Holder may elect to deliver a conditional notice of exercise in the future. ____________ The Call Warrant Holder has given notice to the Trustee to exercise 30 Call Warrants for the purchase of $15,000,000 of the Underlying Securities held by the Trust, and agrees to make payment equal to the Warrant Exercise Purchase Price for the Underlying Securities being purchased pursuant to the exercise of the Call Warrants, which includes accrued and unpaid interest to and including the Warrant Exercise Date, determined to be June 11, 2010. THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE WARRANT EXERCISE PURCHASE PRICE ON THE WARRANT EXERCISE DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS WILL IN FACT BE EXERCISED ON THE WARRANT EXERCISE DATE. If the Trustee receives the Warrant Exercise Purchase Price by 11:00 a.m. (New York City time) on the Redemption Date, then (i) the Class A-1 Certificates issued by the Trust will be partially redeemed on the Redemption Date at a price of 100% of the Stated Amount of the Class A-1 Certificates to be redeemed plus accrued and unpaid interest to the Redemption Date (a total redemption price of $25.00 per Class A-1 Certificate to be redeemed of this $25 represents re-payment of principal and $0.483333333 represents accrued but unpaid interest) and (ii) the Class A-2 Certificates will be partially redeemed on the Redemption Date by payment of accrued and unpaid interest on the Notional Amount of the Class A-2 Certificates to be redeemed to the date of redemption, plus the Make Whole Amount (a total redemption price of $73.02330333 per thousand). If the Trustee does not receive the Warrant Exercise Purchase Price, then (i) the Certificates issued by the Trust will not be partially redeemed and will continue to accrue distributions as if no exercise notice had been given and (ii) the Call Warrant Holder may elect to deliver a conditional notice of exercise in the future.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Synthetic Fixed-Income Securities Inc., 6.00% STRATS (Structured Repackaged Asset-Backed Trust Securities) Certificates, Series 2004-1, Class A-1 Certificates, STRATS Trust for Boeing Securities, price to the public $25 per certificate. The underlying securities are the 6.625% Debentures due 2/15/2038 issued by The Boeing Co. (NYSE: BA). The certificates pay 6.00% ($1.50) per annum distributions semiannually on 2/15 & 8/15 to holders of record on the business day immediately preceding the payment date. Certificates are callable at the option of the call warrant holder on or after 1/23/2009 at $25 per certificate plus accrued and unpaid interest. Certificate ratings at the IPO were A by S&P and A3 by Moody's. Synthetic Fixed-Income Securities, Inc. is a wholly-owned subsidiary of Wachovia Corporation. For further information on the STRATS Trust Certificates, see the IPO Prospectus by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	6.00% $1.5	$25.00 $25.00	Called for 7/15/2010 2/15/2038	A2 A 9/27/2009	2/15 & 8/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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HOME PAGE:     http://www.wellsfargo.com/ (This parent company URL is for reference only and does not have specific information on the security.)

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Address and Phone Numbers

Address:   Wells Fargo Securities, 375 Park Avenue, New York, NY 10152
Main Phone Number	212-214-6277
Fax Number	Not Available
Investor Contact (President)   William Threadgill	212-214-6277