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): July 27,
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
July 27, 1998.
Monthly Report to Certificateholders as to distributions made on
August 25, 1998.
Monthly Report to Certificateholders as to distributions made on
September 25, 1998.
Monthly Report to Certificateholders as to distributions made on
October 26, 1998.
Monthly Report to Certificateholders as to distributions made on
November 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: December 31, 1998 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders
dated as of July 27, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of August 25, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of September 25, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of October 26, 1998.
Monthly Remittance Statement to the Certificateholders
dated as of November 25, 1998.
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 114,550,000.00 99,142,615.93 578,331.93 3,048,523.72 3,
>626,855.65 0.00 0.00 96,094,092.21
PO 15,922.00 15,104.14 0.00 47.91
> 47.91 0.00 0.00 15,056.23
X(*) 135,147,596.00 119,451,628.31 184,784.80 0.00
>184,784.80 0.00 0.00 116,326,711.62
M-1 13,977,000.00 13,735,692.00 80,124.87 51,678.23
>131,803.10 0.00 0.00 13,684,013.77
M-2 2,727,000.00 2,679,919.29 15,632.86 10,082.74
> 25,715.60 0.00 0.00 2,669,836.55
B-1 1,363,000.00 1,339,468.28 7,813.56 5,039.52
> 12,853.08 0.00 0.00 1,334,428.76
B-2 1,363,000.00 1,339,468.28 7,813.56 5,039.52
> 12,853.08 0.00 0.00 1,334,428.76
B-3 818,000.00 803,877.52 4,689.29 3,024.45
> 7,713.74 0.00 0.00 800,853.07
B-4 1,571,802.00 1,544,665.40 9,010.55 5,811.54
> 14,822.09 0.00 0.00 1,538,853.86
R 100.00 100.00 0.58 0.00
> 0.58 0.00 0.00 100.00
TOTALS 136,385,824.00 120,600,910.84 888,202.00 3,129,247.63 4,
>017,449.63 0.00 0.00 117,471,663.21
* Represents Notional Amount
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BH7 865.496429 5.048729 26.613040
> 31.661769 838.883389 7.000000% 7.000000%
PO 525180BJ3 948.633338 0.000000 3.009044
> 3.009044 945.624293 0.000000% 0.000000%
X(*) 525180BK0 883.860548 1.367281 0.000000
> 1.367281 860.738297 1.856342% 1.906210%
M-1 525180BM6 982.735351 5.732623 3.697376
> 9.429999 979.037975 7.000000% 7.000000%
M-2 525180BN4 982.735347 5.732622 3.697374
> 9.429996 979.037972 7.000000% 7.000000%
B-1 525180BP9 982.735348 5.732619 3.697373
> 9.429993 979.037975 7.000000% 7.000000%
B-2 982.735348 5.732619 3.697373
> 9.429993 979.037975 7.000000% 7.000000%
B-3 982.735355 5.732628 3.697372
> 9.430000 979.037983 7.000000% 7.000000%
B-4 982.735357 5.732624 3.697374
> 9.429998 979.037983 7.000000% 7.000000%
R 525180BL8 1,000.000000 5.800000 0.000000
> 5.800000 1,000.000000 7.000000% 7.000000%
SELLER: Lehman Capital ADMI
>NISTRATOR: Vincent Greco
SERVICER: Norwest BankMinnesota
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brother
> 3 Park Plaza
RECORD DATE: May 29, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: July 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 Certific
>ateholders
> Distribution Date:
> July 27, 1998
> DELINQUENT AND
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS
> INFORMATION
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 2,463,221.1,296,243.991,708,544.64 5,468,010.4
>
> PERCENTAGE OF POOL BALA
>NCE 2.0969% 1.1035% 1.4544% 4.6547%
>
> NUMBER OF LOANS
> 68 27 47 142
>
> PERCENTAGE OF LOANS
> 2.0719% 0.8227% 1.4321% 4.3266%
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 INFORMA
>TION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 BALA
>NCE 0.0000%
>
> NUMBER OF LOANS
> 0
>
> PERCENTAGE OF LOANS
> 0.0000%
>
> BOOKVALUE OF REO PROPER
>TY 0.00
>
> BEGINNING POOL PRINCIPA
>L BALANCE 120,600,912.79
>
> ENDING POOL PRINCIPAL B
>ALANCE 117,471,665.16
>
> WEIGHTED AVERAGE COUPON
> 9.3768%
>
> WEIGHTED AVERAGE MONTHS
> TO MATURITY 134
>
> BEGINNING POOL LOAN COU
>NT 3,366
>
> ENDING POOL LOAN COUNT
> 3,282
>
> NUMBER OF LOANS THAT PR
>EPAID IN FULL 84
>
> SCHEDULED PRINCIPAL REC
>EIVED 419,793.48
>
> PREPAYMENT PRINCIPAL
> 2,675,459.2
>
> REPURCHASE / SUBSTITUTI
>ON AMOUNT 0.00
>
> LIQUIDATION PROCEEDS
> 0.00
>
> CURRENT MORTGAGE POOL R
>EALIZED LOSSES 0.00
>
> AGGREGATE MORTGAGE POOL
> REALIZED LOSSES 0.00
>
> AVAILABLE FUNDS
> 4,017,449.6
>
>
> Page 2 of 3 COPYRIGHT 1998 B
>
> Lehman ABS Corporation
>
> Home Equity Loan Asset-
>Backed Certificates
> Series 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> July 27, 1998
> SCHEDULED INTEREST RECE
>IVED 739,825.49
>
> ADVANCED PRINCIPAL
> 33,994.93
>
> ADVANCED INTEREST
> 191,251.66
>
> MASTER SERVICING FEE
> 2,512.52
>
> SERVICING FEE
> 50,250.38
>
> COMPENSATING INTEREST
> 5,294.96
>
> MASTER SERVICER AND SER
>VICER EXPENSES 0.00
>
> SENIOR PRINCIPAL DISTRI
>BUTION AMOUNT 3,048,523.7
>
> SUBORDINATE PRINCIPAL D
>ISTRIBUTION AMOUNT 80,676.00
>
> NON-PO FORMULA PRINCIPA
>L AMOUNT 3,129,199.7
>
> PO FORMULA PRINCIPAL AM
>OUNT 47.91
>
> CLASS SUBORDINATE PERCE
>NTAGES
> CLASS M-
>1 11.39%
>
> CLASS M-
>2 2.23%
>
> CLASS B-
>1 1.11%
>
> CLASS B-
>2 1.11%
>
> CLASS B-
>3 0.67%
>
> CLASS B-
>4 1.28%
>
> CLASS IN
>TEREST OPTIMAL INTEREST PRIOR UNPAID INTEREST UNPAID
>
> INTEREST SHORTFALL INTEREST PAID INTEREST
> CLASS A-
>1 578,331.93 0.00 0.00 578,331.93 0.00
> CLASS X
> 184,784.80 0.00 0.00 184,784.80 0.00
> CLASS M-
>1 80,124.87 0.00 0.00 80,124.87 0.00
> CLASS M-
>2 15,632.86 0.00 0.00 15,632.86 0.00
> CLASS B-
>1 7,813.56 0.00 0.00 7,813.56 0.00
> CLASS B-
>2 7,813.56 0.00 0.00 7,813.56 0.00
> CLASS B-
>3 4,689.29 0.00 0.00 4,689.29 0.00
> CLASS B-
>4 9,010.55 0.00 0.00 9,010.55 0.00
> CLASS R
> 0.58 0.00 0.00 0.58 0.00
> BEGINNING DEFERRED AMOU
>NT 218,993.79
>
> ENDING DEFERRED AMOUNT
> 186,777.91
>
>
> Page 3 of 3 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 114,550,000.00 96,094,092.21 560,548.87 3,890,761.75 4,
>451,310.62 0.00 0.00 92,203,330.46
PO 15,922.00 15,056.23 0.00 251.26
> 251.26 0.00 0.00 14,804.97
X(*) 135,147,596.00 116,326,711.62 179,607.79 0.00
>179,607.79 0.00 0.00 112,390,882.35
M-1 13,977,000.00 13,684,013.77 79,823.41 56,229.45
>136,052.86 0.00 0.00 13,627,784.32
M-2 2,727,000.00 2,669,836.55 15,574.05 10,970.72
> 26,544.77 0.00 0.00 2,658,865.83
B-1 1,363,000.00 1,334,428.76 7,784.17 5,483.35
> 13,267.52 0.00 0.00 1,328,945.41
B-2 1,363,000.00 1,334,428.76 7,784.17 5,483.35
> 13,267.52 0.00 0.00 1,328,945.41
B-3 818,000.00 800,853.07 4,671.64 3,290.81
> 7,962.45 0.00 0.00 797,562.26
B-4 1,571,802.00 1,538,853.86 8,976.65 6,323.36
> 15,300.01 0.00 0.00 1,532,530.50
R 100.00 100.00 0.58 0.00
> 0.58 0.00 0.00 100.00
TOTALS 136,385,824.00 117,471,663.21 864,771.33 3,978,794.05 4,
>843,565.38 0.00 0.00 113,492,869.16
* Represents Notional Amount
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BH7 838.883389 4.893486 33.965620
> 38.859106 804.917769 7.000000% 7.000000%
PO 525180BJ3 945.624293 0.000000 15.780681
> 15.780681 929.843613 0.000000% 0.000000%
X(*) 525180BK0 860.738297 1.328975 0.000000
> 1.328975 831.615846 1.852805% 1.917688%
M-1 525180BM6 979.037975 5.711055 4.022998
> 9.734053 975.014976 7.000000% 7.000000%
M-2 525180BN4 979.037972 5.711056 4.023000
> 9.734056 975.014972 7.000000% 7.000000%
B-1 525180BP9 979.037975 5.711056 4.023001
> 9.734057 975.014974 7.000000% 7.000000%
B-2 979.037975 5.711056 4.023001
> 9.734057 975.014974 7.000000% 7.000000%
B-3 979.037983 5.711051 4.022995
> 9.734046 975.014988 7.000000% 7.000000%
B-4 979.037983 5.711056 4.023000
> 9.734057 975.014983 7.000000% 7.000000%
R 525180BL8 1,000.000000 5.800000 0.000000
> 5.800000 1,000.000000 7.000000% 7.000000%
SELLER: Lehman Capital ADMI
>NISTRATOR: Vincent Greco
SERVICER: Norwest BankMinnesota
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brother
> 3 Park Plaza
RECORD DATE: July 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: August 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> Lehman ABS Corporation
>
> Home Equity Loan Asset-
>Backed Certificates
> Series 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
> DELINQUENT AND
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS
> INFORMATION
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 1,773,209. 748,381.63 2,390,453.00 4,912,044.4
>
> PERCENTAGE OF POOL BALA
>NCE 1.5624% 0.6594% 2.1063% 4.3281%
>
> NUMBER OF LOANS
> 52 17 59 128
>
> PERCENTAGE OF LOANS
> 1.6466% 0.5383% 1.8683% 4.0532%
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 INFORMA
>TION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 BALA
>NCE 0.0000%
>
> NUMBER OF LOANS
> 0
>
> PERCENTAGE OF LOANS
> 0.0000%
>
> BOOKVALUE OF REO PROPER
>TY 0.00
>
> BEGINNING POOL PRINCIPA
>L BALANCE 117,471,665.16
>
> ENDING POOL PRINCIPAL B
>ALANCE 113,492,871.11
>
> WEIGHTED AVERAGE COUPON
> 9.3728%
>
> WEIGHTED AVERAGE MONTHS
> TO MATURITY 134
>
> BEGINNING POOL LOAN COU
>NT 3,282
>
> ENDING POOL LOAN COUNT
> 3,158
>
> NUMBER OF LOANS THAT PR
>EPAID IN FULL 124
>
> SCHEDULED PRINCIPAL REC
>EIVED 452,033.96
>
> PREPAYMENT PRINCIPAL
> 3,496,049.5
>
> REPURCHASE / SUBSTITUTI
>ON AMOUNT 0.00
>
> LIQUIDATION PROCEEDS
> 0.00
>
> CURRENT MORTGAGE POOL R
>EALIZED LOSSES 0.00
>
> AGGREGATE MORTGAGE POOL
> REALIZED LOSSES 0.00
>
> AVAILABLE FUNDS
> 4,843,565.3
>
>
> Page 2 of 3 COPYRIGHT 1998 B
>
> Lehman ABS Corporation
>
> Home Equity Loan Asset-
>Backed Certificates
> Series 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> August 25, 1998
> SCHEDULED INTEREST RECE
>IVED 766,478.05
>
> ADVANCED PRINCIPAL
> 30,710.51
>
> ADVANCED INTEREST
> 142,696.65
>
> MASTER SERVICING FEE
> 2,447.33
>
> SERVICING FEE
> 48,946.53
>
> COMPENSATING INTEREST
> 7,556.24
>
> MASTER SERVICER AND SER
>VICER EXPENSES 0.00
>
> SENIOR PRINCIPAL DISTRI
>BUTION AMOUNT 3,890,761.7
>
> SUBORDINATE PRINCIPAL D
>ISTRIBUTION AMOUNT 87,781.04
>
> NON-PO FORMULA PRINCIPA
>L AMOUNT 3,978,542.7
>
> PO FORMULA PRINCIPAL AM
>OUNT 251.26
>
> CLASS SUBORDINATE PERCE
>NTAGES
> CLASS M-
>1 11.65%
>
> CLASS M-
>2 2.28%
>
> CLASS B-
>1 1.14%
>
> CLASS B-
>2 1.14%
>
> CLASS B-
>3 0.68%
>
> CLASS B-
>4 1.31%
>
> CLASS IN
>TEREST OPTIMAL INTEREST PRIOR UNPAID INTEREST UNPAID
>
> INTEREST SHORTFALL INTEREST PAID INTEREST
> CLASS A-
>1 560,548.87 0.00 0.00 560,548.87 0.00
> CLASS X
> 179,607.79 0.00 0.00 179,607.79 0.00
> CLASS M-
>1 79,823.41 0.00 0.00 79,823.41 0.00
> CLASS M-
>2 15,574.05 0.00 0.00 15,574.05 0.00
> CLASS B-
>1 7,784.17 0.00 0.00 7,784.17 0.00
> CLASS B-
>2 7,784.17 0.00 0.00 7,784.17 0.00
> CLASS B-
>3 4,671.64 0.00 0.00 4,671.64 0.00
> CLASS B-
>4 8,976.65 0.00 0.00 8,976.65 0.00
> CLASS R
> 0.58 0.00 0.00 0.58 0.00
> BEGINNING DEFERRED AMOU
>NT 186,777.91
>
> ENDING DEFERRED AMOUNT
> 158,939.21
>
>
> Page 3 of 3 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 114,550,000.00 92,203,330.46 537,852.76 2,936,537.59 3,
>474,390.35 0.00 0.00 89,266,792.87
PO 15,922.00 14,804.97 0.00 221.26
> 221.26 0.00 0.00 14,583.71
X(*) 135,147,596.00 112,390,882.35 172,453.80 0.00
>172,453.80 0.00 0.00 109,403,540.32
M-1 13,977,000.00 13,627,784.32 79,495.41 56,153.12
>135,648.53 0.00 0.00 13,571,631.20
M-2 2,727,000.00 2,658,865.83 15,510.05 10,955.82
> 26,465.87 0.00 0.00 2,647,910.01
B-1 1,363,000.00 1,328,945.41 7,752.18 5,475.90
> 13,228.08 0.00 0.00 1,323,469.51
B-2 1,363,000.00 1,328,945.41 7,752.18 5,475.90
> 13,228.08 0.00 0.00 1,323,469.51
B-3 818,000.00 797,562.26 4,652.45 3,286.35
> 7,938.80 0.00 0.00 794,275.91
B-4 1,571,802.00 1,532,530.50 8,939.76 6,314.77
> 15,254.53 0.00 0.00 1,526,215.73
R 100.00 100.00 0.58 0.00
> 0.58 0.00 0.00 100.00
TOTALS 136,385,824.00 113,492,869.16 834,409.17 3,024,420.71 3,
>858,829.88 0.00 0.00 110,468,448.45
* Represents Notional Amount
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BH7 804.917769 4.695354 25.635422
> 30.330776 779.282347 7.000000% 7.000000%
PO 525180BJ3 929.843613 0.000000 13.896495
> 13.896495 915.947117 0.000000% 0.000000%
X(*) 525180BK0 831.615846 1.276040 0.000000
> 1.276040 809.511553 1.841305% 1.891583%
M-1 525180BM6 975.014976 5.687587 4.017537
> 9.705125 970.997439 7.000000% 7.000000%
M-2 525180BN4 975.014972 5.687587 4.017536
> 9.705123 970.997437 7.000000% 7.000000%
B-1 525180BP9 975.014974 5.687586 4.017535
> 9.705121 970.997439 7.000000% 7.000000%
B-2 975.014974 5.687586 4.017535
> 9.705121 970.997439 7.000000% 7.000000%
B-3 975.014988 5.687592 4.017543
> 9.705134 970.997445 7.000000% 7.000000%
B-4 975.014983 5.687587 4.017535
> 9.705122 970.997448 7.000000% 7.000000%
R 525180BL8 1,000.000000 5.800000 0.000000
> 5.800000 1,000.000000 7.000000% 7.000000%
SELLER: Lehman Capital ADMI
>NISTRATOR: Vincent Greco
SERVICER: Norwest BankMinnesota
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brother
> 3 Park Plaza
RECORD DATE: August 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: September 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 Certific
>ateholders
> Distribution Date:
> September 25, 1998
> DELINQUENT AND
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS
> INFORMATION
> DAYS DAYS DAYS TOTA
>L
> PRINCIPAL BALANCE
> 2,168,681. 550,578.49 2,657,429.85 5,376,689
>.4
> PERCENTAGE OF POOL BALA
>NCE 1.9632% 0.4984% 2.4056% 4.867
>2%
> NUMBER OF LOANS
> 61 16 60 13
>7
> PERCENTAGE OF LOANS
> 1.9831% 0.5202% 1.9506% 4.453
>8%
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.0
>0
> PERCENTAGE OF POOL BALA
>NCE 0.0000% 0.0000% 0.0000% 0.000
>0%
> NUMBER OF LOANS
> 0 0 0
>0
> PERCENTAGE OF LOANS
> 0.0000% 0.0000% 0.0000% 0.000
>0%
> BANKRUPTCY LOAN INFORMA
>TION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.0
>0
> PERCENTAGE OF POOL BALA
>NCE 0.0000% 0.0000% 0.0000% 0.000
>0%
> NUMBER OF LOANS
> 0 0 0
>0
> PERCENTAGE OF LOANS
> 0.0000% 0.0000% 0.0000% 0.000
>0%
> REO LOAN INFORMATION:
>
> PRINCIPAL BALANCE
> 0.0
>0
> PERCENTAGE OF POOL BALA
>NCE 0.000
>0%
> NUMBER OF LOANS
>
> 0
> PERCENTAGE OF LOANS
> 0.000
>0%
> BOOKVALUE OF REO PROPER
>TY 0.0
>0
> BEGINNING POOL PRINCIPA
>L BALANCE 113,492,871.11
>##
> ENDING POOL PRINCIPAL B
>ALANCE 110,468,450.40
>##
> WEIGHTED AVERAGE COUPON
> 9.361
>5%
> WEIGHTED AVERAGE MONTHS
> TO MATURITY 1
>33
> BEGINNING POOL LOAN COU
>NT 3,15
>8
> ENDING POOL LOAN COUNT
> 3,07
>6
> NUMBER OF LOANS THAT PR
>EPAID IN FULL
>82
> SCHEDULED PRINCIPAL REC
>EIVED 444,804.7
>6
> PREPAYMENT PRINCIPAL
> 2,556,742
>.5
> REPURCHASE / SUBSTITUTI
>ON AMOUNT 0.0
>0
> LIQUIDATION PROCEEDS
> 0.0
>0
> CURRENT MORTGAGE POOL R
>EALIZED LOSSES 0.0
>0
> AGGREGATE MORTGAGE POOL
> REALIZED LOSSES 0.0
>0
> AVAILABLE FUNDS
> 3,858,829
>.8
>
> Page 2 of 3 COPYRIGHT 1998
> B
> Lehman ABS Corporation
>
> Home Equity Loan Asset-
>Backed Certificates
> Series 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> September 25, 1998
> SCHEDULED INTEREST RECE
>IVED 724,784.4
>0
> ADVANCED PRINCIPAL
> 22,873.4
>2
> ADVANCED INTEREST
> 151,639.8
>0
> MASTER SERVICING FEE
> 2,364.4
>3
> SERVICING FEE
> 47,288.7
>0
> COMPENSATING INTEREST
> 5,010.0
>8
> MASTER SERVICER AND SER
>VICER EXPENSES 0.0
>0
> SENIOR PRINCIPAL DISTRI
>BUTION AMOUNT 2,936,537
>.5
> SUBORDINATE PRINCIPAL D
>ISTRIBUTION AMOUNT 87,661.8
>6
> NON-PO FORMULA PRINCIPA
>L AMOUNT 3,024,199
>.4
> PO FORMULA PRINCIPAL AM
>OUNT 221.2
>6
> CLASS SUBORDINATE PERCE
>NTAGES
> CLASS M-
>1 12.0
>1%
> CLASS M-
>2 2.3
>5%
> CLASS B-
>1 1.1
>7%
> CLASS B-
>2 1.1
>7%
> CLASS B-
>3 0.7
>0%
> CLASS B-
>4 1.3
>5%
> CLASS IN
>TEREST OPTIMAL INTEREST PRIOR UNPAID INTEREST UNPAID
>
> INTEREST SHORTFALL INTEREST PAID INTEREST
> CLASS A-
>1 537,852.76 0.00 0.00 537,852.76 0.00
> CLASS X
> 172,453.80 0.00 0.00 172,453.80 0.00
> CLASS M-
>1 79,495.41 0.00 0.00 79,495.41 0.00
> CLASS M-
>2 15,510.05 0.00 0.00 15,510.05 0.00
> CLASS B-
>1 7,752.18 0.00 0.00 7,752.18 0.00
> CLASS B-
>2 7,752.18 0.00 0.00 7,752.18 0.00
> CLASS B-
>3 4,652.45 0.00 0.00 4,652.45 0.00
> CLASS B-
>4 8,939.76 0.00 0.00 8,939.76 0.00
> CLASS R
> 0.58 0.00 0.00 0.58 0.00
> BEGINNING DEFERRED AMOU
>NT 158,939.2
>1
> ENDING DEFERRED AMOUNT
> 142,287.6
>1
>
> Page 3 of 3 COPYRIGHT 1998
> B
ankers Trust Company
ankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 114,550,000.00 89,266,792.87 520,722.96 2,775,065.39 3,
>295,788.35 0.00 0.00 86,491,727.48
PO 15,922.00 14,583.71 0.00 31.35
> 31.35 0.00 0.00 14,552.36
X(*) 135,147,596.00 109,403,540.32 167,761.57 0.00
>167,761.57 0.00 0.00 106,562,602.95
M-1 13,977,000.00 13,571,631.20 79,167.85 43,822.83
>122,990.68 0.00 0.00 13,527,808.37
M-2 2,727,000.00 2,647,910.01 15,446.14 8,550.11
> 23,996.25 0.00 0.00 2,639,359.90
B-1 1,363,000.00 1,323,469.51 7,720.24 4,273.49
> 11,993.73 0.00 0.00 1,319,196.02
B-2 1,363,000.00 1,323,469.51 7,720.24 4,273.49
> 11,993.73 0.00 0.00 1,319,196.02
B-3 818,000.00 794,275.91 4,633.28 2,564.72
> 7,198.00 0.00 0.00 791,711.19
B-4 1,571,802.00 1,526,215.73 8,902.93 4,928.16
> 13,831.09 0.00 0.00 1,521,287.57
R 100.00 100.00 0.58 0.00
> 0.58 0.00 0.00 100.00
TOTALS 136,385,824.00 110,468,448.45 812,075.79 2,843,509.54 3,
>655,585.33 0.00 0.00 107,624,938.91
* Represents Notional Amount
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BH7 779.282347 4.545814 24.225800
> 28.771614 755.056547 7.000000% 7.000000%
PO 525180BJ3 915.947117 0.000000 1.968974
> 1.968974 913.978143 0.000000% 0.000000%
X(*) 525180BK0 809.511553 1.241321 0.000000
> 1.241321 788.490555 1.840116% 1.889174%
M-1 525180BM6 970.997439 5.664152 3.135353
> 8.799505 967.862086 7.000000% 7.000000%
M-2 525180BN4 970.997437 5.664151 3.135354
> 8.799505 967.862083 7.000000% 7.000000%
B-1 525180BP9 970.997439 5.664153 3.135356
> 8.799508 967.862084 7.000000% 7.000000%
B-2 970.997439 5.664153 3.135356
> 8.799508 967.862084 7.000000% 7.000000%
B-3 970.997445 5.664156 3.135355
> 8.799511 967.862090 7.000000% 7.000000%
B-4 970.997448 5.664155 3.135357
> 8.799512 967.862091 7.000000% 7.000000%
R 525180BL8 1,000.000000 5.800000 0.000000
> 5.800000 1,000.000000 7.000000% 7.000000%
SELLER: Lehman Capital ADMI
>NISTRATOR: Vincent Greco
SERVICER: Norwest BankMinnesota
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brother
> 3 Park Plaza
RECORD DATE: September 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: October 26, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> Lehman ABS Corporation
>
> Home Equity Loan Asset-
>Backed Certificates
> Series 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
> DELINQUENT AND
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS
> INFORMATION
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 2,542,907. 481,209.48 2,835,469.41 5,859,586.1
>
> PERCENTAGE OF POOL BALA
>NCE 2.3627% 0.4471% 2.6346% 5.4445%
>
> NUMBER OF LOANS
> 74 11 61 146
>
> PERCENTAGE OF LOANS
> 2.4667% 0.3667% 2.0333% 4.8667%
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 INFORMA
>TION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 BALA
>NCE 0.0000%
>
> NUMBER OF LOANS
> 0
>
> PERCENTAGE OF LOANS
> 0.0000%
>
> BOOKVALUE OF REO PROPER
>TY 0.00
>
> BEGINNING POOL PRINCIPA
>L BALANCE 110,468,450.40
>
> ENDING POOL PRINCIPAL B
>ALANCE 107,624,940.86
>
> WEIGHTED AVERAGE COUPON
> 9.3604%
>
> WEIGHTED AVERAGE MONTHS
> TO MATURITY 132
>
> BEGINNING POOL LOAN COU
>NT 3,076
>
> ENDING POOL LOAN COUNT
> 3,000
>
> NUMBER OF LOANS THAT PR
>EPAID IN FULL 76
>
> SCHEDULED PRINCIPAL REC
>EIVED 333,368.74
>
> PREPAYMENT PRINCIPAL
> 2,486,775.2
>
> REPURCHASE / SUBSTITUTI
>ON AMOUNT 0.00
>
> LIQUIDATION PROCEEDS
> 0.00
>
> CURRENT MORTGAGE POOL R
>EALIZED LOSSES 0.00
>
> AGGREGATE MORTGAGE POOL
> REALIZED LOSSES 0.00
>
> AVAILABLE FUNDS
> 3,655,585.3
>
>
> Page 2 of 3 COPYRIGHT 1998 B
>
> Lehman ABS Corporation
>
> Home Equity Loan Asset-
>Backed Certificates
> Series 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> October 26, 1998
> SCHEDULED INTEREST RECE
>IVED 680,141.10
>
> ADVANCED PRINCIPAL
> 23,365.58
>
> ADVANCED INTEREST
> 171,409.56
>
> MASTER SERVICING FEE
> 2,301.43
>
> SERVICING FEE
> 46,028.52
>
> COMPENSATING INTEREST
> 4,716.48
>
> MASTER SERVICER AND SER
>VICER EXPENSES 0.00
>
> SENIOR PRINCIPAL DISTRI
>BUTION AMOUNT 2,775,065.3
>
> SUBORDINATE PRINCIPAL D
>ISTRIBUTION AMOUNT 68,412.80
>
> NON-PO FORMULA PRINCIPA
>L AMOUNT 2,843,478.1
>
> PO FORMULA PRINCIPAL AM
>OUNT 31.35
>
> CLASS SUBORDINATE PERCE
>NTAGES
> CLASS M-
>1 12.29%
>
> CLASS M-
>2 2.40%
>
> CLASS B-
>1 1.20%
>
> CLASS B-
>2 1.20%
>
> CLASS B-
>3 0.72%
>
> CLASS B-
>4 1.38%
>
> CLASS IN
>TEREST OPTIMAL INTEREST PRIOR UNPAID INTEREST UNPAID
>
> INTEREST SHORTFALL INTEREST PAID INTEREST
> CLASS A-
>1 520,722.96 0.00 0.00 520,722.96 0.00
> CLASS X
> 167,761.57 0.00 0.00 167,761.57 0.00
> CLASS M-
>1 79,167.85 0.00 0.00 79,167.85 0.00
> CLASS M-
>2 15,446.14 0.00 0.00 15,446.14 0.00
> CLASS B-
>1 7,720.24 0.00 0.00 7,720.24 0.00
> CLASS B-
>2 7,720.24 0.00 0.00 7,720.24 0.00
> CLASS B-
>3 4,633.28 0.00 0.00 4,633.28 0.00
> CLASS B-
>4 8,902.93 0.00 0.00 8,902.93 0.00
> CLASS R
> 0.58 0.00 0.00 0.58 0.00
> BEGINNING DEFERRED AMOU
>NT 142,287.61
>
> ENDING DEFERRED AMOUNT
> 129,313.36
>
>
> Page 3 of 3 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company
Lehman ABS Corporation
Home Equity Loan Asset-Backed Certificates
Series 1998-1
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A-1 114,550,000.00 86,491,727.48 504,535.08 3,164,812.37 3,
>669,347.45 0.00 0.00 83,326,915.11
PO 15,922.00 14,552.36 0.00 297.92
> 297.92 0.00 0.00 14,254.44
X(*) 135,147,596.00 106,562,602.95 162,965.80 0.00
>162,965.80 0.00 0.00 103,338,420.88
M-1 13,977,000.00 13,527,808.37 78,912.22 63,169.68
>142,081.90 0.00 0.00 13,464,638.69
M-2 2,727,000.00 2,639,359.90 15,396.27 12,324.80
> 27,721.07 0.00 0.00 2,627,035.10
B-1 1,363,000.00 1,319,196.02 7,695.31 6,160.14
> 13,855.45 0.00 0.00 1,313,035.88
B-2 1,363,000.00 1,319,196.02 7,695.31 6,160.14
> 13,855.45 0.00 0.00 1,313,035.88
B-3 818,000.00 791,711.19 4,618.32 3,696.99
> 8,315.31 0.00 0.00 788,014.20
B-4 1,571,802.00 1,521,287.57 8,874.18 7,103.83
> 15,978.01 0.00 0.00 1,514,183.74
R 100.00 100.00 0.58 0.00
> 0.58 0.00 0.00 100.00
TOTALS 136,385,824.00 107,624,938.91 790,693.07 3,263,725.87 4,
>054,418.94 0.00 0.00 104,361,213.04
* Represents Notional Amount
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A-1 525180BH7 755.056547 4.404497 27.628218
> 32.032715 727.428329 7.000000% 7.000000%
PO 525180BJ3 913.978143 0.000000 18.711217
> 18.711217 895.266926 0.000000% 0.000000%
X(*) 525180BK0 788.490555 1.205836 0.000000
> 1.205836 764.633807 1.835168% 1.892426%
M-1 525180BM6 967.862086 5.645862 4.519545
> 10.165407 963.342541 7.000000% 7.000000%
M-2 525180BN4 967.862083 5.645864 4.519545
> 10.165409 963.342538 7.000000% 7.000000%
B-1 525180BP9 967.862084 5.645862 4.519545
> 10.165407 963.342539 7.000000% 7.000000%
B-2 967.862084 5.645862 4.519545
> 10.165407 963.342539 7.000000% 7.000000%
B-3 967.862090 5.645868 4.519548
> 10.165416 963.342543 7.000000% 7.000000%
B-4 967.862091 5.645864 4.519545
> 10.165409 963.342546 7.000000% 7.000000%
R 525180BL8 1,000.000000 5.800000 0.000000
> 5.800000 1,000.000000 7.000000% 7.000000%
SELLER: Lehman Capital ADMI
>NISTRATOR: Joyce B. Santiago
SERVICER: Norwest BankMinnesota
> Bankers Trust Company
LEAD UNDERWRITER: Lehman Brother
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 3
> (c) COPYRIGHT 1998 Bankers Trust Company
> Lehman ABS Corporation
>
> Home Equity Loan Asset-
>Backed Certificates
> Series 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
> DELINQUENT AND
> FORECLOSURE LOAN
> 30 TO 59 60 TO 89 90 PLUS
> INFORMATION
> DAYS DAYS DAYS TOTAL
>
> PRINCIPAL BALANCE
> 1,991,268. 858,078.90 2,914,981.22 5,764,328.5
>
> PERCENTAGE OF POOL BALA
>NCE 1.9081% 0.8222% 2.7932% 5.5234%
>
> NUMBER OF LOANS
> 51 19 65 135
>
> PERCENTAGE OF LOANS
> 1.7418% 0.6489% 2.2199% 4.6107%
>
> FORECLOSURE LOAN INFORM
>ATION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 INFORMA
>TION:
> PRINCIPAL BALANCE
> 0.00 0.00 0.00 0.00
>
> PERCENTAGE OF POOL BALA
>NCE 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 BALA
>NCE 0.0000%
>
> NUMBER OF LOANS
> 0
>
> PERCENTAGE OF LOANS
> 0.0000%
>
> BOOKVALUE OF REO PROPER
>TY 0.00
>
> BEGINNING POOL PRINCIPA
>L BALANCE 107,624,940.86
>
> ENDING POOL PRINCIPAL B
>ALANCE 104,361,214.99
>
> WEIGHTED AVERAGE COUPON
> 9.3551%
>
> WEIGHTED AVERAGE MONTHS
> TO MATURITY 131
>
> BEGINNING POOL LOAN COU
>NT 3,001
>
> ENDING POOL LOAN COUNT
> 2,928
>
> NUMBER OF LOANS THAT PR
>EPAID IN FULL 73
>
> SCHEDULED PRINCIPAL REC
>EIVED 478,350.10
>
> PREPAYMENT PRINCIPAL
> 2,760,860.7
>
> REPURCHASE / SUBSTITUTI
>ON AMOUNT 0.00
>
> LIQUIDATION PROCEEDS
> 0.00
>
> CURRENT MORTGAGE POOL R
>EALIZED LOSSES 0.00
>
> AGGREGATE MORTGAGE POOL
> REALIZED LOSSES 0.00
>
> AVAILABLE FUNDS
> 4,054,418.9
>
>
> Page 2 of 3 COPYRIGHT 1998 B
>
> Lehman ABS Corporation
>
> Home Equity Loan Asset-
>Backed Certificates
> Series 1998-1
> Statement To Certific
>ateholders
> Distribution Date:
> November 25, 1998
> SCHEDULED INTEREST RECE
>IVED 675,914.52
>
> ADVANCED PRINCIPAL
> 24,515.04
>
> ADVANCED INTEREST
> 153,966.76
>
> MASTER SERVICING FEE
> 2,242.19
>
> SERVICING FEE
> 44,843.73
>
> COMPENSATING INTEREST
> 6,475.32
>
> MASTER SERVICER AND SER
>VICER EXPENSES 0.00
>
> SENIOR PRINCIPAL DISTRI
>BUTION AMOUNT 3,164,812.3
>
> SUBORDINATE PRINCIPAL D
>ISTRIBUTION AMOUNT 98,615.58
>
> NON-PO FORMULA PRINCIPA
>L AMOUNT 3,263,427.9
>
> PO FORMULA PRINCIPAL AM
>OUNT 297.92
>
> CLASS SUBORDINATE PERCE
>NTAGES
> CLASS M-
>1 12.57%
>
> CLASS M-
>2 2.46%
>
> CLASS B-
>1 1.23%
>
> CLASS B-
>2 1.23%
>
> CLASS B-
>3 0.74%
>
> CLASS B-
>4 1.42%
>
> CLASS IN
>TEREST OPTIMAL INTEREST PRIOR UNPAID INTEREST UNPAID
>
> INTEREST SHORTFALL INTEREST PAID INTEREST
> CLASS A-
>1 504,535.08 0.00 0.00 504,535.08 0.00
> CLASS X
> 162,965.80 0.00 0.00 162,965.80 0.00
> CLASS M-
>1 78,912.22 0.00 0.00 78,912.22 0.00
> CLASS M-
>2 15,396.27 0.00 0.00 15,396.27 0.00
> CLASS B-
>1 7,695.31 0.00 0.00 7,695.31 0.00
> CLASS B-
>2 7,695.31 0.00 0.00 7,695.31 0.00
> CLASS B-
>3 4,618.32 0.00 0.00 4,618.32 0.00
> CLASS B-
>4 8,874.18 0.00 0.00 8,874.18 0.00
> CLASS R
> 0.58 0.00 0.00 0.58 0.00
> BEGINNING DEFERRED AMOU
>NT 129,313.36
>
> ENDING DEFERRED AMOUNT
> 106,995.30
>
>
> Page 3 of 3 COPYRIGHT 1998 B
>
ankers Trust Company
ankers Trust Company