May 11, 2004: On May 7, 2004, Corporate Backed Trust Certificates, Verizon New York Debenture-Backed Series 2004-5 Trust, which was established by Lehman ABS Corporation, announced that it must be terminated under the terms of its trust agreement. As a consequence, the sole assets of the trust, $25,000,000 principal amount of 7 3/8% Debentures, Series B, due 2032 issued by Verizon New York Inc., will be liquidated. The transfer books relating to the trust certificates will be closed permanently at the time of this press release. Notices were sent today to the registered holders of the certificates (CUSIP Number 21988K867; NYSE Listing JZB). Such notices informed the certificateholders that they (i) possess certain rights to receive, in lieu of any liquidation proceeds owed under the trust agreement, their pro rata portion of the underlying securities of the trust and (ii) must elect by 3:00 p.m. (New York City Time), May 24, 2004, if they wish to receive such distribution of the underlying securities. If the certificateholders do not exercise their rights described above and in the aforementioned notices, the underlying securities held by the trust will be liquidated and the proceeds will be distributed to certificateholders in accordance with the terms of the trust agreement. Sale procedures to liquidate the underlying securities are expected to begin June 9, 2004 and finish by 2 p.m. (New York City Time), June 11, 2004. The certificateholders will receive a distribution related to such liquidation shortly thereafter.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Lehman ABS Corp., Floating Rate Corporate Backed Trust Certificates, Verizon New York Debenture-Backed Series 2004-5, price to the public $25 per certificate. The underlying securities are the 7 3/8% Debenutes Series B due 4/01/2032 issued by Verizon New York Inc., a subsidiary of Verizon Communications Inc. (NYSE: VZ). The certificates will pay an initial 4.00% per annum distribution and will pay a floating rate thereafter, semiannually on the first day of each calendar month to holders of record on the day immediately preceding the payment date. The floating rate will be reset for each payment date and will be the greater of the One-Month USD LIBOR plus 1.125% or 4.00%, not to exceed 7.50%. Certificates are exchangeable at the option of the swap counterparty on or after 2/25/2006 at $25 per certificate plus accrued and unpaid interest. Certificate ratings at the IPO were A+ by S&P and A3 by Moody's. Lehman ABS Corp. is an indirect wholly-owned subsidiary of Lehman Brothers Inc. (NYSE: LEH). For further information on the Corporate Backed 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	FixFloat n.a.	$25.00 $25.00	Called for 5/11/2004 4/01/2032	A3 A+ 2/25/2004	First day of each month Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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

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Address:   200 Vesey Street, 24th Floor, New York, NY 10285
Main Phone Number	212-526-7000
Fax Number	212-526-3738
Toll Free Phone Number	800-666-2388