7/03/2004 A QOL user has informed us of the following: "There is a class action lawsuit filed about JZG (Verizon) that was recently liquidated. Persons who owned this security between Jan 5 2004 and May 11 2004 are probably eligible. For more information, email info@murrayfrank.com or call Eric Belfi at 1-800-497-8076." _____ May 11, 2004: On May 7, 2004, Corporate Backed Trust Certificates, Verizon New York Debenture-Backed Series 2004-1 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, $205,144,000 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 Class A-1 Certificates (CUSIP Number 21988K800; NYSE Listing JZG), the Class A-2 Certificates (CUSIP Number 21988KAH0), and the call warrants related to the Class A-1 Certificates and Class A-2 Certificates. Such notices informed the holders of the Class A-1 Certificates and Class A-2 Certificates 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. In the case of the call warrants related to the Class A-1 Certificates and Class A-2 Certificates, such notices informed the call warrant holders that they (i) possess certain call and optional exchange rights and (ii) must elect by 3:00 p.m. (New York City Time), May 24, 2004, if they wish to exercise such call and optional exchange rights. If the holders of the Class A-1 Certificates, Class A-2 Certificates and related call warrants 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 May 25, 2004 and finish by 2 p.m. (New York City Time), May 27, 2004. The holders of the Class A-1 Certificates and Class A-2 Certificates will receive a distribution related to such liquidation shortly thereafter.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Lehman ABS Corp., 6.20% Corporate Backed Trust Certificates, Verizon New York Debenture-Backed Series 2004-1, Class A-1, price to the public $25 per certificate. Underlying securities are the 7 3/8% Debentures, Series B due 4/01/2032 issued by Verizon New York Inc., a subsidiary of Verizon Communications Inc. (NYSE: VZ). The certificates pay 6.20% ($1.55) per annum distributions semiannually on 4/1 & 10/1 to holders of record on the day immediately preceding the payment date. Certificates are callable at the option of the call warrant holder on or after 1/15/2009 at $25 per certificate plus accrued and unpaid interest. Certificate ratings at the IPO were A+ by S&P and A2 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	6.20% $1.55	$25.00 $25.00	Called for 5/27/2004 4/01/2032	A2 A+ 2/26/2004	4/1 & 10/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

Company's Online Information Links

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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Company's SEC EDGAR Filings

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Address and Phone Numbers

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