<PAGE>
Exhibit 99.3
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 98-ADM-1
The Bank of New York, as Trustee under the
Lehman Corporate Bond Backed
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AS4
<TABLE>
<CAPTION>
<S> <C>
in accordance with the Standard Terms and Conditions of Trust, The Bank of New York,
as trustee submits the following cash basis statement for the period ending : June 15, 1999
INTEREST ACCOUNT
Balance as of December 15, 1998 0
Schedule Income received on securities.................................... 2285681
Unscheduled Income received on securities................................. 0
Schedule Interest received from Swap Counterparty......................... 0
Unscheduled Interest received from Swap Counterparty...................... 0
Interest Received on sale of Securties.................................... 0
LESS:
Distribution to Beneficial Holders........................................ 1605628
Distribution to Swap Counterparty......................................... 0
Trustee Fees.............................................................. 2250
Fees allocated for third party expenses............................ 750
Balance as of June 15, 1999 Subtotal 677053
PRINCIPAL ACCOUNT
Balance as of December 15, 1998 0
Scheduled Principal payment received on securities........................ 0
Principal received on sale of securities.................................. 0
LESS:
Distribution to Beneficial Holders........................................ 677053
Distribution to Swap Counterparty......................................... 0
Balance as of June 15, 1999 Subtotal 677053
Balance 0
UNDERLYING SECURITIES HELD AS OF June 15, 1999
Principal Title of Security
Amount ARCHER-DANIELS-MIDLAND CORP
65775000 CUSIP# : 039-483-AP7
</TABLE>
- 7 -
<PAGE>
Exhibit 99.4
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 98-ADM-1
The Bank of New York, as Trustee under the
Lehman Corporate Bond Backed
Class A-1 Certificates
CUSIP NUMBER: 219-87H-AS4
<TABLE>
<CAPTION>
<S> <C>
in accordance with the Standard Terms and Conditions of Trust, The Bank of New York,
as trustee submits the following cash basis statement for the period ending : December 15, 1999
INTEREST ACCOUNT
Balance as of June 15, 1999 0
Schedule Income received on securities.................................... 2285681
Unscheduled Income received on securities................................. 0
Schedule Interest received from Swap Counterparty......................... 0
Unscheduled Interest received from Swap Counterparty...................... 0
Interest Received on sale of Securties.................................... 0
LESS:
Distribution to Beneficial Holders........................................ 1583624
Distribution to Swap Counterparty......................................... 0
Trustee Fees.............................................................. 2250
Fees allocated for third party expenses............................ 750
Balance as of December 15, 1999 Subtotal 699057
PRINCIPAL ACCOUNT
Balance as of June 15, 1999 0
Scheduled Principal payment received on securities........................ 0
Principal received on sale of securities.................................. 0
LESS:
Distribution to Beneficial Holders........................................ 699057
Distribution to Swap Counterparty......................................... 0
Balance as of December 15, 1999 Subtotal 699057
Balance 0
UNDERLYING SECURITIES HELD AS OF December 15, 1999
Principal Title of Security
Amount ARCHER-DANIELS-MIDLAND CORP
65775000 CUSIP# : 039-483-AP7
</TABLE>
- 8 -
