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Exhibit M
Metris Receivables, Inc. Metris Master Trust Monthly Report
Securityholders' Statement Series 1999-1 Sep-2000
Section 5.2 Class A Class B Total
<S> <C> <C> <C>
(i) Security Amount .................................................. 500,000,000.00 49,450,550.00 549,450,550.00
(ii) Security Principal Distributed .................................. 0.00 -- 0.00
(iii) Security Interest Distributed .................................. 2,905,729.17 -- 2,905,729.17
(iv) Principal Collections ........................................... 24,008,232.96 2,374,440.65 26,382,673.60
(v) Finance Charge Collections ....................................... 10,597,007.39 1,048,055.66 11,645,063.05
Recoveries .................................................... 420,074.48 41,545.83 461,620.31
Principal Funding Account Investment Earnings ................. 0.00 0.00 0.00
Accumulation Period Reserve Account Investment Earnings ....... 0.00 0.00 0.00
Total Finance Charge Collections ............................ 11,017,081.87 1,089,601.49 12,106,683.36
Total Collections .................................................... 35,025,314.83 3,464,042.14 38,489,356.96
(vi) Aggregate Amount of Principal Receivables .......... -- -- 5,776,202,860.06
Invested Amount (End of Month) ................................ 500,000,000.00 49,450,550.00 549,450,550.00
Floating Allocation Percentage ................................ 8.6562057% 0.8561083% 9.5123139%
Fixed/Floating Allocation Percentage .......................... 8.6562057% 0.8561083% 9.5123139%
Invested Amount (Beginning of Month) .......................... 500,000,000.00 49,450,550.00 549,450,550.00
Average Daily Invested Amount ................................. -- -- 549,450,550.00
(vii) Receivable Delinquencies (As a % of Total Receivables)
Current ....................................................... -- 84.72% 5,164,599,190.65
30 Days to 59 Days (1 to 29 Days Contractually Delinquent) .... -- 6.91% 421,058,360.58
60 Days to 89 Days (30 to 59 Days Contractually Delinquent) ... -- 2.63% 160,087,976.16
90 Days and Over (60+ Days Contractually Delinquent) .......... -- 5.75% 350,687,338.62
Total Receivables .................................................... -- 100.00% 6,096,432,866.01
(viii) Aggregate Investor Default Amount ............. -- -- 5,032,911.40
As a % of Average Daily Invested Amount
(Annualized based on 366 days/year) ..................... -- -- 11.18%
(ix) Charge-Offs ..................................................... 0.00 0.00 0.00
(x) Servicing Fee .................................................... -- -- 900,738.61
(xi) Unreimbursed Redirected Principal Collections ................... -- -- 0.00
(xii) Excess Funding Account Balance ................................. -- -- 0.00
(xiii) New Accounts Added ............................................ -- -- 125,502
(xiv) Average Gross Portfolio Yield .................................. -- -- 26.88%
Average Net Portfolio Yield ................................. -- -- 15.71%
(xv) Minimum Base Rate ............................................... -- -- 8.97%
Excess Spread ................................................ -- -- 6.73%
(xvi) Principal Funding Account Balance .............................. -- -- 0.00
(xvii) Accumulation Shortfall ........................................ -- -- 0.00
(xviii) Scheduled date for the commencement of the Accumulation Period -- -- June 2003
Accumulation Period Length ................................... -- -- N/A
(xix) Principal Funding Account Investment Proceeds Deposit .......... -- -- 0.00
Required Reserve Account Amount .............................. -- -- 0.00
Available Reserve Account Amount ............................. -- -- 0.00
Covered Amount ............................................... -- -- 0.00
(xx) Aggregrate Interest Rate Caps Notional Amount ................... -- -- 500,000,000.00
Deposit to the Caps Proceeds Account ......................... -- -- 0.00
(xxi) Policy Claim Amount ............................................ -- -- 0.00
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