September 8, 1998
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Lehman ABS Corporation Home Equity Loan Asset-Backed
Certificates, Series 1998-1; File No. 333-14293.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of January 1, 1998 (the "Pooling and Servicing Agreement")
among Lehman ABS Corporation, as Depositor (the "Depositor"), Aurora
Loan Services Inc., as servicer (the "Servicer"), Norwest Bank
Minnesota, National Association, as Master Servicer (the "Master
Servicer"), and Bankers Trust Company of California, N.A., as
trustee (the "Trustee).
The Home Equity Loan Asset-Backed Certificates, Series 1998-1 (the
"Certificates"), consist of the following Classes (each, a "Class")
of Certificates: Class A-1 Certificates, Class PO Certificates, Class
X Certificates and Class R Certificates (collectively, the "Senior
Certificates"), the Class M-1 Certificates and Class M-2 Certificates
(collectively, the "Class B Certificates" and together with the
Class M Certificates, the "Subordinate Certificates"). The Class M-1
Certificates, Class M-2 Certificates and Class B-1 Certificates are
collectively referred to as the "Offered Subordinate Certificates."
Only the Senior Certificaes and the Offered Subordinate Certificates
(collectively, the "Offered Certificates") are being offered hereby.
The Certificates evidence in the aggregate the entire beneficial
interest in a pool (the "Mortgage Pool") of non-conforming closed-end
fixed-rate home equity loans (the "Mortgage Loans") held by Lehman
Home Equity Loan Trust 1998-1 (the "Trust Fund" or the "Trust")
formed pursuant to a Pooling and Servicing Agreement among Lehman ABS
Corporation, as depositor (the "Depositor"), Norwest Bank Minnesota,
National Association, as master servicer (the "Master Servicer"),
Aurora Loan Services Inc., as servicer (the "Servicer") and Bankers
Trust Company of California, N.A., as trustee (the "Trustee"). The
assets of the Trust will also include certain other property. The
Mortgage Loans are secured by first, second and third deeds of trust
or mortgages primarily on one- to four-family residential properties.
All of the Mortgage Loans were acquired by the Depositor from Lehman
Capital, a Division of Lehman Brothers Holdings Inc. (the "Seller").
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-39649). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). The Trust intends to fulfill these
filing requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as
defined in the Pooling and Servicing Agreement), a Current Report on
Form 8-K in substantially the form enclosed herewith, including as
an exhibit thereto the applicable Distribution Date report. Each
such Current Report will also disclose under Item 5 any matter
occurring during the relevant reporting period which would be
reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Lehman ABS Corporation Home Equity Loan
Asset-Backed Certificates, Series 1998-1.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant To Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 25,
1998.
LEHMAN ABS CORPORATION
(as the Depositor (the "Depositor"), Aurora Loan Services Inc. as
Servicer (the "Servicer"), Norwest Bank Minnesota, National
Association, as Master Servicer (the "Master Servicer"), and Bankers
Trust Company of California, N.A., as trustee (the "Trustee) under
the Pooling and Servicing Agreement, dated as of January 1, 1998,
providing for the issuance of the Home Equity Loan Asset-Backed
Certificates, Series 1998-1).
LEHMAN ABS CORPORATION HOME EQUITY LOAN ASSET-BACKED CERTIFICATES,
SERIES 1998-1.
(Exact name of Registrant as specified in its Charter)
(State or Other Jurisdiction of Incorporation)
333-14293 13-3447441
(Commission File Number) (I.R.S. Employer Identification No.)
THREE WORLD FINANCIAL CENTER
200 VESEY STREET
NEW YORK, NEW YORK 10022
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (212) 526-7000
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements
to the Certificateholders which was derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Report to Certificateholders as to distributions made on
February 25, 1998.
Monthly Report to Certificateholders as to distributions made on
March 25, 1998.
Monthly Report to Certificateholders as to distributions made on
April 25, 1998.
Monthly Report to Certificateholders as to distributions made on
May 25, 1998.
Monthly Report to Certificateholders as to distributions made on
June 25, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, hereunto duly authorized.
Bankers Trust Company of California,
N.A., not in its individual
capacity, but solely as a duly
authorized agent of the Registrant
pursuant to the Pooling and
Servicing Agreement, dated as of
January 1, 1998.
Date: September 8, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Sequential
Document Page Number
Monthly Remittance Statement to the Certificateholders 5
dated as of February 25, 1998.
Monthly Remittance Statement to the Certificateholders 9
dated as of March 25, 1998.
Monthly Remittance Statement to the Certificateholders 14
dated as of April 25, 1998.
Monthly Remittance Statement to the Certificateholders 18
dated as of May 25, 1998.
Monthly Remittance Statement to the Certificateholders 22
dated as of June 25, 1998.
LEHMAN ABS CORPORATION
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES
SERIES 1998-1
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 114,550,000.00 114,550,000.00 668,208.33 3,128,463.53
PO 15,922.00 15,922.00 0.00 24.75
X(*) 135,147,596.00 135,147,328.41 211,256.35 0.00
M-1 13,977,000.00 13,977,000.00 81,532.50 46,628.19
M-2 2,727,000.00 2,727,000.00 15,907.50 9,097.45
B-1 1,363,000.00 1,363,000.00 7,950.83 4,547.06
B-2 1,363,000.00 1,363,000.00 7,950.83 4,547.06
B-3 818,000.00 818,000.00 4,771.67 2,728.90
B-4 1,571,802.00 1,571,802.00 9,168.85 5,243.63
R 100.00 100.00 .58 0.00
Totals 136,385,824.00 136,385,824.00 1,006,747.44 3,201,280.57
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
A-1 3,796,463.53 0.00 0.00 111,421,536.47
PO 24.75 0.00 0.00 15,897.25
X(*) 211,256.35 0.00 0.00 131,950,028.45
M-1 128,160.69 0.00 0.00 13,930,371.81
M-2 25,004.95 0.00 0.00 2,717,902.55
B-1 12,497.89 0.00 0.00 1,358,452.94
B-2 12,497.89 0.00 0.00 1,358,452.94
B-3 7,500.57 0.00 0.00 815,271.10
B-4 14,412.48 0.00 0.00 1,566,558.37
R .58 0.00 0.00 100.00
Totals 4,208,028.01 0.00 0.00 133,184,543.43
*REPRESENTS NOTIONAL AMOUNT
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 525180BH7 1,000.000000 5.833333 27.310899 33.144233
PO 525180BJ3 1,000.000000 0.000000 1.554453 1.554453
X(*) 525180BK0 999.998020 1.563153 0.000000 1.563153
M-1 525180BM6 1,000.000000 5.833333 3.336066 9.169399
M-2 525180BN4 1,000.000000 5.833333 3.336065 9.169399
B-1 525180BP9 1,000.000000 5.833331 3.336067 9.169398
B-2 1,000.000000 5.833331 3.336067 9.169398
B-3 1,000.000000 5.833337 3.336064 9.169401
B-4 1,000.000000 5.833337 3.336063 9.169401
R 525180BLS 1,000.000000 5.800000 0.000000 5.800000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
A-1 52518B0H7 972.689101 7.000000% 7.000000%
PO 525180BJ3 998.445547 0.000000% 0.000000%
X(*) 525180BK0 976.340182 1.875797% 1.921250%
M-1 525180BM6 996.663934 7.000000% 7.000000%
M-2 525180BN4 996.663935 7.000000% 7.000000%
B-1 525180BP9 996.663933 7.000000% 7.000000%
B-2 996.663933 7.000000% 7.000000%
B-3 996.663936 7.000000% 7.000000%
B-4 996.169399 7.000000% 7.000000%
R 525180BLS 1,000.000000 7.000000% 7.000000%
Seller: LEHMAN CAPITAL Administrator: Vincent Greco
Servicer: Norwest BankMinnesota Bankers Trust Company
Lead Underwriter: Lehman Brother 3 Park Plaza
Record Date: January 30,1998 Irvine, CA 92714
Distribution Date: February 25, 1998 Factor Information (800)735-7777
LEHMAN ABS CORPORATION
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES
SERIES 1998-1
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: FEBRUARY 25, 1998
DELINQUENT AND
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS TOTAL
INFORMATION DAYS DAYS DAYS
PRINCIPAL BALANCE 6,175,460.38 1,071,216.77 0.00 7,246,677.15
% OF POOL BALANCE 4.6368% 0.8043% 0.0000% 5.4411%
NUMBER OF LOANS 182 32 0 214
% OF LOANS 4.9057% 0.8625% 0.0000% 5.7682%
FORECLOSURE LOAN
INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
% OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BANKRUPTCY LOAN
INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
% OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.0000%
NUMBER OF LOANS 0
PERCENTAGE OF LOANS 0.0000%
BOOKVALUE OF REO PROPERTY 0.00
BEGINNING POOL PRINCIPAL BALANCE 136,385,825.95
ENDING POOL PRINCIPAL BALANCE 133,184,545.38
WEIGHTED AVERAGE COUPON 9.3969%
WEIGHTED AVERAGE MONTHS TO MATURITY ` 138
BEGINNING POOL LOAN COUNT 3,791
ENDING POOL LOAN COUNT 3,710
NUMBER OF LOANS THAT PREPAID IN FULL 81
SCHEDULED PRINCIPAL RECEIVED 418,165.63
PREPAYMENT PRINCIPAL 2,746,263.75
REPURCHASE/SUBSTITUTION AMOUNT 0.00
LIQUIDATION PROCEEDS 0.00
CURRENT MORTGAGE POOL REALIZED LOSSES 0.00
AGGREGATE MORTGAGE POOL REALIZED LOSSES 0.00
AVAILABLE FUNDS 4,208,028.01
LEHMAN ABS CORPORATION
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES
SERIES 1998-1
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION DATE FEBRUARY 25, 1998
SCHEDULED INTEREST RECEIVED 818,116.95
ADVANCED PRINCIPAL 36,851.19
ADVANCED INTEREST 239,981.66
MASTER SERVICING FEE 2,841.37
SERVICING FEE 56,827.43
COMPENSATING INTEREST 0.00
MASTER SERVICER AND SERVICER EXPENSES 0.00
SENIOR PRINCIPAL DISTRIBUTION AMOUNT 3,128,463.53
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 72,792.29
NON-PO FORMULA PRINCIPAL AMOUNT 3,201,255.82
PO FORMULA PRINCIPAL AMOUNT 24.75
CLASS SUBORDINATE PERCENTAGES
CLASS M-1 10.25%
CLASS M-2 2.01%
CLASS B-1 1.01%
CLASS B-2 1.01%
CLASS B-3 .60%
CLASS B-4 1.16%
CLASS INTEREST OPTIMAL INTEREST
INTEREST SHORTFALL
CLASS A-1 668,208.33 0.00
CLASS X 211,256.35 0.00
CLASS M-1 81,532.50 0.00
CLASS M-2 15,907.50 0.00
CLASS B-1 7,950.83 0.00
CLASS B-2 7,950.83 0.00
CLASS B-3 4,771.67 0.00
CLASS B-4 9,168.85 0.00
CLASS R .58 0.00
CLASS INTEREST PRIOR UNPAID INTEREST UNPAID
INTEREST PAID INTEREST
CLASS A-1 0.00 668,208.33 0.00
CLASS X 0.00 211,256.35 0.00
CLASS M-1 0.00 81,532.50 0.00
CLASS M-2 0.00 15,907.50 0.00
CLASS B-1 0.00 7,950.83 0.00
CLASS B-2 0.00 7,950.83 0.00
CLASS B-3 0.00 4,771.67 0.00
CLASS B-4 0.00 9,168.85 0.00
CLASS R 0.00 0.58 0.00
BEGINNING DEFERRED AMOUNT 969,153.84
ENDING DEFERRED AMOUNT 594,019.09
LEHMAN ABS CORPORATION
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES
SERIES 1998-1
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTIONS IN DOLLARS
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 114,550,000.00 111,421,536.47 649,958.96 2,471,696.26
PO 15,922.00 15,897.25 0.00 325.87
X(*) 135,147,596.00 131,915,508.23 205,729.21 0.00
M-1 13,977,000.00 13,930,371.81 81,260.50 42,606.14
M-2 2,727,000.00 2,717,902.55 15,854.43 8,312.73
B-1 1,363,000.00 1,358,452.94 7,924.31 4,154.84
B-2 1,363,000.00 1,358,452.94 7,924.31 4,154.84
B-3 818,000.00 815,271.10 4,755.75 2,493.51
B-4 1,571,802.00 1,566,558.37 9,138.26 4,791.33
R 100.00 100.00 .58 0.00
Totals 136,385,824.00 133,184,543.43 982,546.31 2,538,535.52
TOTAL REALIZED DEFERRED CURRENT
LOSSES INTEREST PRINCIPAL
BALANCE
A-1 3,121,655.22 0.00 0.00 108,949,840.21
PO 325.87 0.00 0.00 15,571.38
X(*) 205,729.21 0.00 0.00 129,420,238.14
M-1 123,866.64 0.00 0.00 13,887,765.67
M-2 24,167.16 0.00 0.00 2,709,589.82
B-1 12,079.15 0.00 0.00 1,354,298.10
B-2 12,079.15 0.00 0.00 1,354,298.10
B-3 7,249.26 0.00 0.00 812,777.59
B-4 13,929.59 0.00 0.00 1,561,767.04
R .58 0.00 0.00 100.00
Totals 3,521,081.83 0.00 0.00 130,646,007.91
*REPRESENTS NOTIONAL AMOUNT
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR
PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL
A-1 525180BH7 972.689101 5.674020 21.577444 27.251464
PO 525180BJ3 998.445547 0.000000 20.466650 20.466650
X(*) 525180BK0 976.084756 1.522256 0.000000 1.522256
M-1 525180BM6 996.663934 5.813873 3.048304 8.862176
M-2 525180BN4 996.663935 5.813872 3.048306 8.862178
B-1 525180BP9 996.663933 5.813874 3.048305 8.862179
B-2 996.663933 5.813874 3.048305 8.862179
B-3 996.663936 5.813875 3.048301 8.862176
B-4 96.663937 5.813875 3.048301 8.862179
R 525180BLS 1,000.000000 5.800000 0.000000 5.800000
CURRENT PASS THROUGH
PRINCIPAL RATES
BALANCE CURRENT NEXT
A-1 52518B0H7 951.111656 7.000000% 7.000000%
PO 525180BJ3 977.978897 0.000000% 0.000000%
X(*) 525180BK0 957,621460 1.871474% 1.907556%
M-1 525180BM6 993.615631 7.000000% 7.000000%
M-2 525180BN4 993.615629 7.000000% 7.000000%
B-1 525180BP9 993.615627 7.000000% 7.000000%
B-2 993.615627 7.000000% 7.000000%
B-3 996.615636 7.000000% 7.000000%
B-4 993.615634 7.000000% 7.000000%
R 525180BLS 1,000.000000 7.000000% 7.000000%
Seller: LEHMAN CAPITAL Administrator: Vincent Greco
Servicer: Norwest BankMinnesota Bankers Trust Company
Lead Underwriter: Lehman Brother 3 Park Plaza
Record Date: February 27,1998 Irvine, CA 92714
Distribution Date: March 25, 1998 Factor Information (800)735-7777
LEHMAN ABS CORPORATION
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES
SERIES 1998-1
STATEMENT TO CERTIFICATEHOLDERS
Distribution Date: MARCH 25, 1998
DELINQUENT AND
FORECLOSURE LOAN 30 TO 59 60 TO 89 90 PLUS TOTAL
INFORMATION DAYS DAYS DAYS
PRINCIPAL BALANCE 3,866,593.38 2,006,641.35 453,471.71 6,326,706.44
% OF POOL BALANCE 2.9596% 1.5359% 0.3471% 4.8426%
NUMBER OF LOANS 110 57 13 180
% OF LOANS 3.0270% 1.5685% 0.3577% 4.9532%
FORECLOSURE LOAN
INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
% OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BANKRUPTCY LOAN
INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
% OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.0000%
NUMBER OF LOANS 0
PERCENTAGE OF LOANS 0.0000%
BOOKVALUE OF REO PROPERTY 0.00
BEGINNING POOL PRINCIPAL BALANCE 133,184,545.38
ENDING POOL PRINCIPAL BALANCE 130,646,009.86
WEIGHTED AVERAGE COUPON 9.3918%
WEIGHTED AVERAGE MONTHS TO MATURITY 138
BEGINNING POOL LOAN COUNT 3,710
ENDING POOL LOAN COUNT 3,634
NUMBER OF LOANS THAT PREPAID IN FULL 76
SCHEDULED PRINCIPAL RECEIVED 378,916.03
PREPAYMENT PRINCIPAL 2,131,143.23
REPURCHASE/SUBSTITUTION AMOUNT 0.00
LIQUIDATION PROCEEDS 0.00
CURRENT MORTGAGE POOL REALIZED LOSSES 0.00
AGGREGATE MORTGAGE POOL REALIZED LOSSES 0.00
AVAILABLE FUNDS 3,521,081.83
LEHMAN ABS CORPORATION
HOME EQUITY LOAN ASSET-BACKED CERTIFICATES
SERIES 1998-1
STATEMENT TO CERTIFICATEHOLDERS
DISTRIBUTION DATE MARCH 25, 1998
SCHEDULED INTEREST RECEIVED 780,203.78
ADVANCED PRINCIPAL 28,476.26
ADVANCED INTEREST 247,485.10
MASTER SERVICING FEE 2,774.68
SERVICING FEE 55,493.56
COMPENSATING INTEREST 0.00
MASTER SERVICER AND SERVICER EXPENSES 0.00
SENIOR PRINCIPAL DISTRIBUTION AMOUNT 2,471,696.26
SUBORDINATE PRINCIPAL DISTRIBUTION AMOUNT 66,513.39
NON-PO FORMULA PRINCIPAL AMOUNT 2,538,209.65
PO FORMULA PRINCIPAL AMOUNT 325.87
CLASS SUBORDINATE PERCENTAGES
CLASS M-1 10.46%
CLASS M-2 2.05%
CLASS B-1 1.02%
CLASS B-2 1.02%
CLASS B-3 .61%
CLASS B-4 1.18%
CLASS INTEREST OPTIMAL INTEREST
INTEREST SHORTFALL
CLASS A-1 649,958.96 0.00
CLASS X 205,729.21 0.00
CLASS M-1 81,260.50 0.00
CLASS M-2 15,854.43 0.00
CLASS B-1 7,924.31 0.00
CLASS B-2 7,924.31 0.00
CLASS B-3 4,755.75 0.00
CLASS B-4 9,138.26 0.00
CLASS R .58 0.00
CLASS INTEREST PRIOR UNPAID INTEREST UNPAID
INTEREST PAID INTEREST
CLASS A-1 0.00 649,958.96 0.00
CLASS X 0.00 205,729.21 0.00
CLASS M-1 0.00 81,260.50 0.00
CLASS M-2 0.00 15,854.43 0.00
CLASS B-1 0.00 7,924.31 0.00
CLASS B-2 0.00 7,924.31 0.00
CLASS B-3 0.00 4,755.75 0.00
CLASS B-4 0.00 9,138.26 0.00
CLASS R 0.00 0.58 0.00
BEGINNING DEFERRED AMOUNT 594,019.09
ENDING DEFERRED AMOUNT 433,962.15
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 114,550,000.00 108,949,840.21 635,540.73 3,035,582.19
PO 15,922.00 15,571.38 0.00 378.99
X(*) 135,147,596.00 129,420,238.14 201,422.75 0.00
M-1 13,977,000.00 13,887,765.67 81,011.97 51,118.71
M-2 2,727,000.00 2,709,589.82 15,805.94 9,973.58
B-1 1,363,000.00 1,354,298.10 7,900.07 4,984.96
B-2 1,363,000.00 1,354,298.10 7,900.07 4,984.96
B-3 818,000.00 812,777.59 4,741.20 2,991.71
B-4 1,571,802.00 1,561,767.04 9,110.31 5,748.62
R 100.00 100.00 0.58 0.00
TOTALS 136,385,824.00 130,646,007.91 963,433.62 3,115,763.72
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 3,671,122.92 0.00 0.00 105,914,258.02
PO 378.99 0.00 0.00 15,192.39
X(*) 201,422.75 0.00 0.00 126,370,633.16
M-1 132,130.68 0.00 0.00 13,836,646.96
M-2 25,779.52 0.00 0.00 2,699,616.24
B-1 12,885.03 0.00 0.00 1,349,313.14
B-2 12,885.03 0.00 0.00 1,349,313.14
B-3 7,732.91 0.00 0.00 809,785.88
B-4 14,858.93 0.00 0.00 1,556,018.42
R 0.58 0.00 0.00 100.00
TOTALS 4,079,197.34 0.00 0.00 127,530,244.19
*Represents Notional Amount
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BH7 951.111656 5.548151 26.500063 32.048214 924.611593
PO 525180BJ3 977.978897 0.000000 23.802914 23.802914 954.175983
X(*) 525180BK0 957.621460 1.490391 0.000000 1.490391 935.056463
M-1 525180BM6 993.615631 5.796091 3.657345 9.453436 989.958286
M-2 525180BN4 993.615629 5.796091 3.657345 9.453436 989.958284
B-1 525180BP9 993.615627 5.796090 3.657344 9.453434 989.958283
B-2 993.615627 5.796090 3.657344 9.453434 989.958283
B-3 993.615636 5.796088 3.657347 9.453435 989.958289
B-4 993.615634 5.796093 3.657344 9.453436 989.958290
R 525180BL8 1,000.000000 5.800000 0.000000 5.800000 1,000.000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.000000% 7.000000%
PO 0.000000% 0.000000%
X(*) 1.867626% 1.912696%
M-1 7.000000% 7.000000%
M-2 7.000000% 7.000000%
B-1 7.000000% 7.000000%
B-2 7.000000% 7.000000%
B-3 7.000000% 7.000000%
B-4 7.000000% 7.000000%
R 7.000000% 7.000000%
SELLER: Lehman Capital ADMINISTRATOR: Vincent Greco
SERVICER: Norwest BankMinnesota Bankers Trust Company
LEAD UNDERWRITER: Lehman Brother 3 Park Plaza
RECORD DATE: March 31, 1998 Irvine, CA 92614
DIST. DATE: April 27, 1998 FACTOR INFORMATION: (800)735-7777
Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
Distribution Date: April 27, 1998
DELINQUENT AND
FORCLOSURE LOAN 30 TO 59 69 TO 89 90 PLUS
INFORMATION: DAYS DAYS DAYS TOTAL
PRIN. BAL. 4,312,710.15 892,284.67 1,034,773.59 6,239,768.41
% OF POOL BALANCE 3.3817% 0.6997% 0.8114% 4.8928%
NUMBER OF LOANS 103 26 30 159
PERCENTAGE OF LOANS 2.9055% 0.7334% 0.8463% 4.4852%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0 0 0 0
% OF POOL BALANCE 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
PERCENTAGE OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.0000%
NUMBER OF LOANS 0
PERCENTAGE OF LOANS 0.0000%
BOOKVALUE OF REO PROPERTY 0.00
BEGINNING POOL PRINCIPAL BALANCE 130,646,009.86
ENDING POOL PRINCIPAL BALANCE 127,530,246.14
WEIGHTED AVERAGE COUPON 9.3883%
WEIGHTED AVERAGE MONTHS TO MATURITY 137
BEGINNING POOL LOAN COUNT 3,634
ENDING POOL LOAN COUNT 3,545
NUMBER OF LOANS THAT PREPAID IN FULL 89
SCHEDULED PRINCIPAL RECEIVED 443,898.10
PREPAYMENT PRINCIPAL 2,634,838.32
REPURCHASE/SUBSTITUTION AMOUNT 0.00
LIQUIDATION PROCEEDS 0.00
CURRENT MORTGAGE POOL REALIZED LOSSES 0.00
AGGREGATE MORTGAGE POOL REALIZED LOSSES 0.00
AVAILABLE FUNDS 4,079,197.34
Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
Distribution Date: April 27, 1998
SCHEDULED INTEREST RECEIVED 795,019.20
ADVANCED PRINCIPAL 37,027.30
ADVANCED INTEREST 214,487.16
MASTER SERVICING FEE 2,721.79
SERVICING FEE 54,435.84
COMPENSATING INTEREST 0.00
MASTER SERVICER AND SERVICER EXPENSES 0.00
SENIOR PRINCIPAL DISTRIBUTION AMOUNT 3,035,582.19
SUBORDINATE PRINCIPAL DISTRABUTION AMOUNT 79,802.54
NON-PO FORMULA PRINCIPAL AMOUNT 3,115,384.73
PO FORMULA PRINCIPAL AMOUNT 378.99
CLASS SUBORDINATE PERCENTAGES
CLASS M-1 10.63%
CLASS M-2 2.08%
CLASS B-1 1.04%
CLASS B-2 1.04%
CLASS B-3 0.62%
CLASS B-4 1.20%
CLASS INTEREST OPTIMAL INTEREST PRIOR UNPAID INTEREST UNPAID
INTEREST SHORTFALL INTEREST PAID INTEREST
CLASS A-1 635,540.73 0.00 0.00 635,540.73 0.00
CLASS X 201,422.75 0.00 0.00 201,422.75 0.00
CLASS M-1 81,011.97 0.00 0.00 81,011.97 0.00
CLASS M-2 15,805.94 0.00 0.00 15,805.94 0.00
CLASS B-1 7,900.07 0.00 0.00 7,900.07 0.00
CLASS B-2 7,900.07 0.00 0.00 7,900.07 0.00
CLASS B-3 4,741.20 0.00 0.00 4,741.20 0.00
CLASS B-4 9,110.31 0.00 0.00 9,110.31 0.00
CLASS R 0.58 0.00 0.00 0.58 0.00
BEGINNING DEFERRED AMOUNT 433,962.15
ENDING DERERRED AMOUNT 312,598.41
Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 114,550,000.00 105,914,258.02 617,833.17 3,850,673.67
PO 15,922.00 15,192.39 0.00 51.57
X(*) 135,147,596.00 126,370,633.16 196,635.02 0.00
M-1 13,977,000.00 13,836,646.96 80,713.77 50,409.65
M-2 2,727,000.00 2,699,616.24 15,747.76 9,835.24
B-1 1,363,000.00 1,349,313.14 7,870.99 4,915.81
B-2 1,363,000.00 1,349,313.14 7,870.99 4,915.81
B-3 818,000.00 809,785.88 4,723.75 2,950.21
B-4 1,571,802.00 1,556,018.42 9,076.77 5,668.88
R 100.00 100.00 0.58 0.00
TOTALS 136,385,824.00 127,530,244.19 940,472.80 3,929,420.84
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 4,468,506.84 0.00 0.00 102,063,584.35
PO 51.57 0.00 0.00 15,140.82
X(*) 196,635.02 0.00 0.00 122,447,567.30
M-1 131,123.42 0.00 0.00 13,786,237.31
M-2 25,583.00 0.00 0.00 2,689,781.00
B-1 12,786.80 0.00 0.00 1,344,397.33
B-2 12,786.80 0.00 0.00 1,344,397.33
B-3 7,673.96 0.00 0.00 806,835.67
B-4 14,745.65 0.00 0.00 1,550,349.54
R 0.58 0.00 0.00 100.00
TOTALS 4,869,893.64 0.00 0.00 123,600,823.35
*Represents Notional Amount
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BH7 924.611593 5.393568 33.615658 39.009226 890.995935
PO 525180BJ3 954.175983 0.000000 3.238915 3.238915 950.937068
X(*)525180BK0 935.056463 1.454965 0.000000 1.454965 906.028453
M-1 525180BM6 989.958286 5.774756 3.606614 9.381371 986.351671
M-2 525180BN4 989.958284 5.774756 3.606615 9.381371 986.351669
B-1 525180BP9 989.958283 5.774754 3.606610 9.381365 986.351673
B-2 989.958283 5.774754 3.606610 9.381365 986.351673
B-3 989.958289 5.774756 3.606614 9.381369 986.351675
B-4 989.958290 5.774754 3.606612 9.381366 986.351678
R 525180BL8 1,000.000000 5.800000 0.000000 5.800000 1,000.000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.000000% 7.000000%
PO 0.000000% 0.000000%
X(*) 1.867232% 1.927056%
M-1 7.000000% 7.000000%
M-2 7.000000% 7.000000%
B-1 7.000000% 7.000000%
B-2 7.000000% 7.000000%
B-3 7.000000% 7.000000%
B-4 7.000000% 7.000000%
R 7.000000% 7.000000%
SELLER: Lehman Capital ADMINISTRATOR: Vincent Greco
SERVICER: Norwest BankMinnesota Bankers Trust Company
LEAD UNDERWRITER: Lehman Brother 3 Park Plaza
RECORD DATE: April 30, 1998 Irvine, CA 92614
DIST. DATE: May 26, 1998 FACTOR INFORMATION: (800)735-7777
Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
Distribution Date: May 26, 1998
DELINQUENT AND
FORCLOSURE LOAN 30 TO 59 69 TO 89 90 PLUS
INFORMATION: DAYS DAYS DAYS TOTAL
PRIN. BAL. 3,696,057.20 958,353.97 1,248,981.94 5,903,393.11
% OF POOL BAL. 2.9903% 0.7754% 1.0105% 4.7762%
NUMBER OF LOANS 98 24 38 160
% OF LOANS 2.8455% 0.6969% 1.1034% 4.6458%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BAL. 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
% OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0 0 0 0
% OF POOL BAL. 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
% OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.0000%
NUMBER OF LOANS 0
PERCENTAGE OF LOANS 0.0000%
BOOKVALUE OF REO PROPERTY 0.00
BEGINNING POOL PRINCIPAL BALANCE 127,530,246.14
ENDING POOL PRINCIPAL BALANCE 123,600,825.30
WEIGHTED AVERAGE COUPON 9.3884%
WEIGHTED AVERAGE MONTHS TO MATURITY 136
BEGINNING POOL LOAN COUNT 3,545
ENDING POOL LOAN COUNT 3,444
NUMBER OF LOANS THAT PREPAID IN FULL 101
SCHEDULED PRINCIPAL RECEIVED 431,001.60
PREPAYMENT PRINCIPAL 3,464,766.21
REPURCHASE/SUBSTITUTION AMOUNT 0.00
LIQUIDATION PROCEEDS 0.00
CURRENT MORTGAGE POOL REALIZED LOSSES 0.00
AGGREGATE MORTGAGE POOL REALIZED LOSSES 0.00
AVAILABLE FUNDS 4,869,893.64
Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
Distribution Date: May 26, 1998
SCHEDULED INTEREST RECEIVED 758,688.69
ADVANCED PRINCIPAL 33,653.03
ADVANCED INTEREST 225,812.07
MASTER SERVICING FEE 2,656.88
SERVICING FEE 53,137.60
COMPENSATING INTEREST 0.00
MASTER SERVICER AND SERVICER EXPENSES 0.00
SENIOR PRINCIPAL DISTRIBUTION AMOUNT 3,850,673.67
SUBORDINATE PRINCIPAL DISTRABUTION AMOUNT 78,695.60
NON-PO FORMULA PRINCIPAL AMOUNT 3,929,369.27
PO FORMULA PRINCIPAL AMOUNT 51.57
CLASS SUBORDINATE PERCENTAGES
CLASS M-1 10.85%
CLASS M-2 2.12%
CLASS B-1 1.06%
CLASS B-2 1.06%
CLASS B-3 0.64%
CLASS B-4 1.22%
CLASS INTEREST OPTIMAL INTEREST PRIOR UNPAID INTEREST UNPAID
INTEREST SHORTFALL INTEREST PAID INTEREST
CLASS A-1 617,833.17 0.00 0.00 617,833.17 0.00
CLASS X 196,635.02 0.00 0.00 196,635.02 0.00
CLASS M-1 80,713.77 0.00 0.00 80,713.77 0.00
CLASS M-2 15,747.76 0.00 0.00 15,747.76 0.00
CLASS B-1 7,870.99 0.00 0.00 7,870.99 0.00
CLASS B-2 7,870.99 0.00 0.00 7,870.99 0.00
CLASS B-3 4,723.75 0.00 0.00 4,723.75 0.00
CLASS B-4 9,076.77 0.00 0.00 9,076.77 0.00
CLASS R 0.58 0.00 0.00 0.58 0.00
BEGINNING DEFERRED AMOUNT 312,598.41
ENDING DERERRED AMOUNT 253,971.72
Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
DISTRIBUTION IN DOLLARS
PRIOR
ORIGINAL PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
A-1 114,550,000.00 102,063,584.35 595,370.91 2,920,968.42
PO 15,922.00 15,140.82 0.00 36.68
X(*) 135,147,596.00 122,447,567.30 189,764.35 0.00
M-1 13,977,000.00 13,786,237.31 80,419.72 50,545.31
M-2 2,727,000.00 2,689,781.00 15,690.39 9,861.71
B-1 1,363,000.00 1,344,397.33 7,842.32 4,929.05
B-2 1,363,000.00 1,344,397.33 7,842.32 4,929.05
B-3 818,000.00 806,835.67 4,706.54 2,958.15
B-4 1,571,802.00 1,550,349.54 9,043.71 5,684.14
R 100.00 100.00 0.58 0.00
TOTALS 136,385,824.00 123,600,823.35 910,680.84 2,999,912.51
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS TOTAL LOSSES INTEREST BALANCE
A-1 3,516,339.33 0.00 0.00 99,142,615.93
PO 36.68 0.00 0.00 15,104.14
X(*) 189,764.35 0.00 0.00 119,451,628.31
M-1 130,965.03 0.00 0.00 13,735,692.00
M-2 25,552.10 0.00 0.00 2,679,919.29
B-1 12,771.37 0.00 0.00 1,339,468.28
B-2 12,771.37 0.00 0.00 1,339,468.28
B-3 7,664.69 0.00 0.00 803,877.52
B-4 14,727.85 0.00 0.00 1,544,665.40
R 0.58 0.00 0.00 100.00
TOTALS 3,910,593.35 0.00 0.00 120,600,910.84
*Represents Notional Amount
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL TOTAL BALANCE
A-1 525180BH7 890.995935 5.197476 25,499506 30.696982 865.496429
PO 525180BJ3 950.937068 0.000000 2.303731 2.303731 948.633338
X(*)525180BK0 906.028453 1.404127 0.000000 1.404127 883.860548
M-1 525180BM6 986.351671 5.753718 3.616320 9.370039 982.735351
M-2 525180BN4 986.351669 5.753718 3.616322 9.370040 982.735347
B-1 525180BP9 986.351673 5.753720 3.616324 9.370044 982.735348
B-2 986.351673 5.753720 3.616324 9.370044 982.735348
B-3 986.351675 5.753716 3.616320 9.370037 982.735355
B-4 986.351678 5.753721 3.616321 9.370042 982.735357
R 525180BL8 1,000.000000 5.800000 0.000000 5.800000 1,000.000000
PASS-THROUGH RATES
CLASS CURRENT NEXT
A-1 7.000000% 7.000000%
PO 0.000000% 0.000000%
X(*) 1.859723% 1.906366%
M-1 7.000000% 7.000000%
M-2 7.000000% 7.000000%
B-1 7.000000% 7.000000%
B-2 7.000000% 7.000000%
B-3 7.000000% 7.000000%
B-4 7.000000% 7.000000%
R 7.000000% 7.000000%
SELLER: Lehman Capital ADMINISTRATOR: Vincent Greco
SERVICER: Norwest BankMinnesota Bankers Trust Company
LEAD UNDERWRITER: Lehman Brother 3 Park Plaza
RECORD DATE: May 29, 1998 Irvine, CA 92614
DIST. DATE: June 25, 1998 FACTOR INFORMATION: (800)735-7777
Page 1 of 3 COPYRIGHT 1998 Bankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
Distribution Date: June 25, 1998
DELINQUENT AND
FORCLOSURE LOAN 30 TO 59 69 TO 89 90 PLUS
INFORMATION: DAYS DAYS DAYS TOTAL
PRIN. BAL. 4,344,368.12 937,879.69 1,565,561.77 6,847,809.58
% OF POOL BAL. 3.6023% 0.7777% 1.2981% 5.6781%
NUMBER OF LOANS 109 21 46 176
% OF LOANS 3.2383% 0.6239% 1.3666% 5.2288%
FORECLOSURE LOAN INFORMATION:
PRINCIPAL BALANCE 0.00 0.00 0.00 0.00
% OF POOL BAL. 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
% OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
BANKRUPTCY LOAN INFORMATION:
PRINCIPAL BALANCE 0 0 0 0
% OF POOL BAL. 0.0000% 0.0000% 0.0000% 0.0000%
NUMBER OF LOANS 0 0 0 0
% OF LOANS 0.0000% 0.0000% 0.0000% 0.0000%
REO LOAN INFORMATION:
PRINCIPAL BALANCE 0.00
PERCENTAGE OF POOL BALANCE 0.0000%
NUMBER OF LOANS 0
PERCENTAGE OF LOANS 0.0000%
BOOKVALUE OF REO PROPERTY 0.00
BEGINNING POOL PRINCIPAL BALANCE 123,600,825.30
ENDING POOL PRINCIPAL BALANCE 120,600,912.79
WEIGHTED AVERAGE COUPON 9.3805%
WEIGHTED AVERAGE MONTHS TO MATURITY 135
BEGINNING POOL LOAN COUNT 3,444
ENDING POOL LOAN COUNT 3,366
NUMBER OF LOANS THAT PREPAID IN FULL 78
SCHEDULED PRINCIPAL RECEIVED 404,859.09
PREPAYMENT PRINCIPAL 2,546,710.62
REPURCHASE/SUBSTITUTION AMOUNT 0.00
LIQUIDATION PROCEEDS 0.00
CURRENT MORTGAGE POOL REALIZED LOSSES 0.00
AGGREGATE MORTGAGE POOL REALIZED LOSSES 0.00
AVAILABLE FUNDS 3,910,593.35
Page 2 of 3 COPYRIGHT 1998 Bankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement to Certificateholders
Distribution Date: June 25, 1998
SCHEDULED INTEREST RECEIVED 734,477.72
ADVANCED PRINCIPAL 48,342.80
ADVANCED INTEREST 218,779.74
MASTER SERVICING FEE 2,575.02
SERVICING FEE 51,500.34
COMPENSATING INTEREST 0.00
MASTER SERVICER AND SERVICER EXPENSES 0.00
SENIOR PRINCIPAL DISTRIBUTION AMOUNT 2,920,968.42
SUBORDINATE PRINCIPAL DISTRABUTION AMOUNT 78,907.41
NON-PO FORMULA PRINCIPAL AMOUNT 2,999,875.83
PO FORMULA PRINCIPAL AMOUNT 36.68
CLASS SUBORDINATE PERCENTAGES
CLASS M-1 11.15%
CLASS M-2 2.18%
CLASS B-1 1.09%
CLASS B-2 1.09%
CLASS B-3 0.65%
CLASS B-4 1.26%
CLASS INTEREST OPTIMAL INTEREST PRIOR UNPAID INTEREST UNPAID
INTEREST SHORTFALL INTEREST PAID INTEREST
CLASS A-1 595,370.91 0.00 0.00 595,370.91 0.00
CLASS X 189,764.35 0.00 0.00 189,764.35 0.00
CLASS M-1 80,419.72 0.00 0.00 80,419.72 0.00
CLASS M-2 15,690.39 0.00 0.00 15,690.39 0.00
CLASS B-1 7,842.32 0.00 0.00 7,842.32 0.00
CLASS B-2 7,842.32 0.00 0.00 7,842.32 0.00
CLASS B-3 4,706.54 0.00 0.00 4,706.54 0.00
CLASS B-4 9,043.71 0.00 0.00 9,043.71 0.00
CLASS R 0.58 0.00 0.00 0.58 0.00
BEGINNING DEFERRED AMOUNT 253,971.72
ENDING DERERRED AMOUNT 218,993.79
Page 3 of 3 COPYRIGHT 1998 Bankers Trust Company
