<PAGE>
TRUSTEE'S DISTRIBUTION STATEMENT
TO THE HOLDERS OF: 96-DHC-1
The Bank of New York, as Trustee under the
Lehman Corporate Bond Backed
CUSIP NUMBER: 219-87J-AB7
<TABLE>
<S> <C> <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 1, 1999
INTEREST ACCOUNT
Balance as of December 1, 1998 0
Schedule Income received on securities..................................... 533375
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............................... 533375
Distribution to Swap Counterparty................................ 0
Trustee Fees..................................................... 0
Fees allocated for third party expenses.......................... 0
Balance as of June 1, 1999 Subtotal 0
PRINCIPAL ACCOUNT
Balance as of December 1, 1998 0
Scheduled Principal payment received on securities......................... 0
Principal received on sale of securities................................... 0
LESS:
Distribution to Beneficial Holders................................ 0
Distribution to Swap Counterparty................................. 0
Balance as of June 1, 1999 Subtotal 0
Balance 0
UNDERLYING SECURITIES HELD AS OF: June 1, 1999
Principal Title of Security
Amount DAYTON HUDSON CORPORATION
12550000 CUSIP# : 293-753-BP0
</TABLE>