Sep 18, 2014 - NOTICE IS HEREBY GIVEN, pursuant to the terms of the Standard Terms for Trust Agreements dated as of January 16, 2001, between Lehman ABS Corporation, as Depositor, and U.S. Bank Trust National Association, as Trustee, as supplemented by the Series Supplement, Boeing Note-Backed Series 2003-7, dated as of March 21, 2003, in respect of the Corporate Backed Trust Certificates, Boeing Note-Backed Series 2003-7 Trust that certain Call Warrants Holders have exercised their rights to purchase the 1,650,000 total outstanding Class A-1 (NYSE: XVG) and $41,270,000 total outstanding notional amount Class A-2 Corporate Backed Trust Certificates on September 23, 2014 at the Call Price and effect an Optional Exchange for the $41,270,000 principal amount Boeing Company 6 1/8% Notes due February 15, 2033 CUSIP No. 097023AU9* held as the Underlying Securities by the Trust. THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE CALL PRICE WITH RESPECT TO SUCH EXERCISE ON THE REDEMPTION DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS WILL IN FACT BE EXERCISED ON SEPTEMBER 23, 2014. If the Trustee receives the Call Price by 10:00 a.m. (New York City time) on the Redemption Date, then the Certificates selected pro rata for redemption will be redeemed on the Redemption Date at a price of $25.00 principal plus $0.15965278 accrued interest to the Redemption Date per Class A-1 Certificate and $7.63159050 interest per $1,000 stated notional amount Class A-2 Certificate (the "Call Price"). The total payment of the Redemption Amount on the Certificates will be $41,848,510.55, consisting of $41,270,000.00 principal and $263,554.81 accrued interest on the Class A-1 Certificates and $314,955.74 interest on the $41,270,000 notional amount Class A-2 Certificates (the "Redemption Amount") selected for redemption. The Class A-2 Certificates are interest-only Certificates and will not receive payment of principal. No further interest will accrue on the Certificates selected for redemption after the Redemption Date. If the Trustee does not receive the Call Price, then (i) the Certificates issued by the Trust will continue to accrue interest 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. After giving effect to the above redemption of Certificates and Call Warrants exercise, no Certificates or Call Warrants will remain outstanding and no Underlying Securities will remain held by the Trust. This press release is being issued by U.S. Bank Trust National Association as trustee of the Trust. For more information about this conditional partial redemption, Holders with questions may contact Bondholder Services at (800) 934-6802.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Lehman ABS Corp., 6.05% Corporate Backed Trust Certificates, Boeing Note-Backed Series 2003-7, Class A-1, price to the public $25 per certificate. Underlying securities are the 6 1/8% Notes due 2/15/2033 issued by The Boeing Co. (NYSE: BA). The certificates pay 6.05% ($1.5125) per annum distributions semiannually on 2/15 & 8/15 to holders of record one day prior to the payment date. Certificates are callable at the option of the call warrant holder on or after 3/21/2008 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	6.05% $1.5125	$25.00 $25.00	Called for 9/23/2014 2/15/2033	A2 A 4/15/2014	2/15 & 8/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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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