SEARS CREDIT ACCOUNT MASTER TRUST II
10-K405, 2000-03-29
ASSET-BACKED SECURITIES
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   <TITLE>Sears Credit Account Master Trust II 10-K 1999 </TITLE>
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<center>SECURITIES AND EXCHANGE COMMISSION
<p><font size=-1>Washington, D.C. 20549</font>
<p><font size=+3>FORM 10-K</font></center>

<p>X                    
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
<p>                       
SECURITIES EXCHANGE ACT OF 1934
<center>
<p>OR</center>

<p>_                    
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
<p>                       
SECURITIES EXCHANGE ACT OF 1934
<center>
<p><font size=+0>For the fiscal year ended December 31, 1999</font>
<p><font size=+0>Commission file number 0-24776</font>
<p><font size=+2>SEARS CREDIT ACCOUNT MASTER TRUST II</font>
<p><font size=-1>(Exact name of registrant as specified in its charter)</font>
<p>Illinois                  
Not Applicable
<p>(State of Organization) (I.R.S. Employer Identification No.)</center>

<p>            c/o
SRFG, Inc.
<br>           
3711 Kennett Pike
<br>           
Greenville, Delaware;         
19807
<br>    (Address of principal executive offices)                 
(Zip Code)
<p>    Registrant's telephone number, including area code:        
(302) 434-3176
<p>                                          
             
Securities registered pursuant to Section 12(b) of the Act:
<p>                                          
                                         
Name of each exchange
<br>Title of each class                                      
                  
on which each class
<br><u>  to be so registered </u>                                   
                 

<u>is to be registered</u>
<p>None                                         
                                   
Not Applicable
<p>                   
Securities registered pursuant to Section 12(g) of the Act:
<p>                   
7.00% Class A Series 1994-1 Master Trust Certificates
<br>                   
7.25% Class B Series 1994-1 Master Trust Certificates
<br>                   
8.10% Class A Series 1995-2 Master Trust Certificates
<br>                   
8.30% Class B Series 1995-2 Master Trust Certificates
<br>                   
7.00% Class A Series 1995-3 Master Trust Certificates
<br>                   
7.25% Class B Series 1995-3 Master Trust Certificates
<br>                   
6.05% Class A Series 1995-5 Master Trust Certificates
<br>                   
6.20% Class B Series 1995-5 Master Trust Certificates
<br>                   
6.20% Class A Series 1996-1 Master Trust Certificates
<br>                   
6.35% Class B Series 1996-1 Master Trust Certificates
<br>                   
6.50% Class A Series 1996-2 Master Trust Certificates
<br>                   
6.65% Class B Series 1996-2 Master Trust Certificates
<br>                   
7.00% Class A Series 1996-3 Master Trust Certificates
<br>                   
7.10% Class B Series 1996-3 Master Trust Certificates
<br>                   
6.45% Class A Series 1996-4 Master Trust Certificates
<br>                   
6.65% Class B Series 1996-4 Master Trust Certificates
<br>                   
6.20% Class A Series 1997-1 Master Trust Certificates
<br>                   
6.40% Class B Series 1997-1 Master Trust Certificates
<br>                   
5.80% Class A Series 1998-1 Master Trust Certificates
<br>                   
6.00% Class B Series 1998-1 Master Trust Certificates
<br>                   
5.25% Class A Series 1998-2 Master Trust Certificates
<br>                   
5.65% Class A Series 1999-1 Master Trust Certificates
<br>                   
6.35% Class A Series 1999-2 Master Trust Certificates
<br>                   
6.45% Class A Series 1999-3 Master Trust Certificates
<br><font size=-1>                                       
                    
(Title of Class)</font>
<p>Registrant (1) has filed all reports required to be filed by Section
13
<br>or 15(d) of the Securities Exchange Act of 1934 during the preceding
12
<br>months and (2) has been subject to such filing requirements for the
past
<br>90 days.
<p>Yes x                                      
No
<center>
<p>PART I</center>

<p>Item 1. Business
<p>The Sears Credit Account Master Trust II (the "Trust") was formed
<br>pursuant to the Pooling and Servicing Agreement dated as of July 31,
<br>1994 (the "Pooling and Servicing Agreement") among Sears, Roebuck and
<br>Co. ("Sears") as Servicer, its wholly-owned subsidiary, SRFG, Inc.
<br>("SRFG") as Seller, and Bank One, N.A. (formerly, The First National
Bank
<br>of Chicago) as trustee (the "Trustee"). The Trust's only business is
to act as
<br>a passive conduit to permit investment in a pool of retail consumer
receivables.
<p>Item 2. Properties
<p>The property of the Trust includes a portfolio of receivables (the
<br>"Receivables") arising in selected accounts under open-end credit plans
<br>of Sears (the "Accounts") and all monies received in payment of the
<br>Receivables. At the time of the Trust's formation, and on certain
<br>Addition Dates thereafter, Sears sold and contributed to SRFG, which
in
<br>turn conveyed to the Trust, all Receivables existing under the Accounts
<br>as of the end of certain of Sears regular billing cycles ending in
September
<br>and November 1989, February and June 1990, January, February, June,
October
<br>and November 1991, December 1992, February 1993, February 1994, February,
<br>March and June 1995, and March 1996 and all Receivables arising under
the
<br>Accounts from time to time thereafter until the termination of the
Trust. Information
<br>related to the performance of the Receivables during 1999 is set forth
in the ANNUAL
<br>STATEMENTS filed as Exhibits 21(a) to 21(n) to this Annual Report on
Form 10-K.
<p>Item 3. Legal Proceedings
<p>None
<p>Item 4. Submission of Matters to a Vote of Security Holders
<p>None
<br> 
<br> 
<br>
<br>
<br>
<center>
<p>PART II</center>

<p>Item 5. Market for Registrant's Common Equity and Related Stockholder
Matters
<p>Investor Certificates are held and delivered in book-entry form through
the facilities of The Depository Trust Company ("DTC"), a "clearing agency"
registered pursuant to the provisions of Section 17A of the Securities
Exchange Act of 1934, as amended. The sole definitive Investor Certificate
is held by Cede & Co., the nominee of DTC.
<p>Item 9. Changes in and Disagreements with Accountants on Accounting
and Financial
<p>Disclosure
<p>None
<center>
<p>PART III</center>

<p>Item 12. Security Ownership of Certain Beneficial Owners and Management
<p>As of March 15, 2000, 100% of the Investor Certificates were held in
the nominee name of Cede & Co. for beneficial owners.  SRFG, as
of March 15, 2000, owned 100% of the Seller Certificate, which represented
beneficial ownership of a residual interest in the assets of the Trust
as provided in the Pooling and Servicing Agreement.
<br> 
<p>Item 13. Certain Relationships and Related Transactions
<p>None
<br> 
<br> 
<br>
<br>
<center>
<p>PART IV</center>

<p>Item 14. Exhibits, Financial Statement Schedules, and Reports on Form
8-K
<p>(a) Exhibits:
<p>        21. 1999 ANNUAL STATEMENTS
prepared by the Servicer.
<p>               
(a) Series 1994-1
<br>               
(b) Series 1995-2
<br>               
(c) Series 1995-3
<br>               
(d) Series 1995-5
<br>               
(e) Series 1996-1
<br>               
(f) Series 1996-2
<br>               
(g) Series 1996-3
<br>               
(h) Series 1996-4
<br>               
(i) Series 1997-1
<br>               
(j) Series 1998-1
<br>               
(k) Series 1998-2
<br>               
(l) Series 1999-1
<br>               
(m) Series 1999-2
<br>               
(n) Series 1999-3
<p>        28. ANNUAL INDEPENDENT ACCOUNTANTS'
REPORT pursuant
<br>            
to Section 3.06 of the Pooling and Servicing Agreement.
<p>               
(a) Independent Accountants' Report
<p>(b) Reports on Form 8-K:
<p>            Current
reports on Form 8-K are filed on or before the Distribution Date each month
(on, or the first
<br>           
business day after, the 15th of the month). The reports include as an exhibit,
the MONTHLY INVESTOR
<br>           
CERTIFICATEHOLDERS' STATEMENT. Current Reports on Form 8-K were filed on
October 15, 1999,
<br>           
November 15, 1999, and December 15, 1999.
<br> 
<br> 
<br>
<center>
<p>SIGNATURES</center>

<p>Pursuant to the requirements of Section 13 of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
<br> 
<br> 
<dir>
<dir>
<dir>
<dir>Sears Credit Account Master Trust II
<dir>
<dir>(Registrant)
<p>By: SRFG, Inc.
<p>(Originator of the Trust)
<br> 
<br> </dir>
</dir>
By: /S/Donald J. Woytek
<br>          Donald J. Woytek
<br>          Vice President,
Administration
<dir>
<dir>
<dir>
<dir> 
<br> 
<br> </dir>
</dir>
</dir>
</dir>
</dir>
</dir>
</dir>
</dir>
Dated: March 30, 2000
<br> 
<br> 
<br>
<br>
<br>
<br>
<br>
<center>
<p>EXHIBIT INDEX</center>

<p><br>
<br>
<br>
<p>Exhibit No.
<p>21.     1999 ANNUAL STATEMENTS prepared by the Servicer.
<p>            (a)
Series 1994-1
<br>           
(b) Series 1995-2
<br>           
(c) Series 1995-3
<br>           
(d) Series 1995-5
<br>           
(e) Series 1996-1
<br>           
(f) Series 1996-2
<br>           
(g) Series 1996-3
<br>           
(h) Series 1996-4
<br>           
(i) Series 1997-1
<br>           
(j) Series 1998-1
<br>           
(k) Series 1998-2
<br>           
(l) Series 1999-1
<br>           
(m) Series 1999-2
<br>           
(n) Series 1999-3
<p>28.     ANNUAL INDEPENDENT ACCOUNTANTS' REPORT pursuant
to Section 3.06
<br>        of the Pooling and Servicing
Agreement.
<p>            (a)
Independent Accountants' Report
<br> 
<br> 
<br> 
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   <TITLE>Exhibit 21a</TITLE>
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Exhibit 21(a)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1994-1</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$542.29</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                       
$72.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                      
$403.17</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$42.29</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                      
$72.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$500.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                        
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                      
$403.17</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
 
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                         
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
 
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                  
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                    
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
         
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
            
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                    
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                         
$0.00</font></font>
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
<br> 
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   <TITLE>Exhibit 21b</TITLE>
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Exhibit 21(b)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1995-2</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                          
$523.86</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                           
$83.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                          
$420.93</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                          
$65.53</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                          
$83.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                           
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                         
$458.33</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                           
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                         
$420.93</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
     
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                             
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
     
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                      
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                        
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
                 
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                        
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
               
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                    
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                         
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                                
$0.00</font></font>
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<head>
   <TITLE>Exhibit 21c</TITLE>
</head>
<body>
Exhibit 21(c)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1995-3</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$356.56</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                       
$72.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                      
$279.11</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$64.90</font></font><font face="Courier New"><font size=-1></font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                      
$72.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$291.67</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                        
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                      
$279.11</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
 
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                         
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
 
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                  
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                    
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
             
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                    
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
           
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                       
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                              
$0.00</font></font>
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<head>
   <TITLE>Exhibit 21d</TITLE>
</head>
<body>
Exhibit 21(d)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1995-5</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$60.50</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$62.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$60.50</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$62.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
 
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                         
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
 
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                   
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                    
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
             
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                    
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
           
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                        
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                              
$0.00</font></font>
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<head>
   <TITLE>exhibit 21e</TITLE>
</head>
<body>
Exhibit 21(e)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1996-1</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$62.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                      
$63.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$62.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                      
$63.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font><font face="Courier New"><font size=-1></font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
     
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                             
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
     
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                      
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                        
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
                 
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                        
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
               
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                    
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                         
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                                
$0.00</font></font>
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<head>
   <TITLE>Exhibit 21f</TITLE>
</head>
<body>
Exhibit 21(f)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1996-2</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$946.46</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                    
$1,066.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                      
$463.37</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.
$29.79</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$29.79</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                      
$66.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font><font face="Courier New"><font size=-1></font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$916.67</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                    
$1,000.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                      
$463.37</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
     
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                             
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
     
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                      
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                        
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
                 
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                        
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
               
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                    
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                         
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                                 
$0.00</font></font>
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   <TITLE>Exhibit 21g</TITLE>
</head>
<body>
Exhibit 21(g)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1996-3</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                          
$70.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                          
$71.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                           
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                          
$70.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                          
$71.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                           
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                          
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                          
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                          
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
         
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                              
   
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                        
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                         
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
          
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                            
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                             
 
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                             
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
                     
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                          
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                               
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                                      
$0.00</font></font>
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   <TITLE>ex21h</TITLE>
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<body link="#0000FF" vlink="#800080">
Exhibit 21(h)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1996-4</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$64.50</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$66.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$64.50</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$66.50</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font><font face="Courier New"><font size=-1></font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
 
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                         
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
 
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                  
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                    
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
     
`       $0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                    
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
           
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                     
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                              
$0.00</font></font>
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Exhibit 21(i)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1997-1</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<br> 
<br> 
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$62.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$64.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$62.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$64.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
    
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                            
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                   
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                   
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
    
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                     
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                        
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
                 
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                        
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
                
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                     
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                          
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                                  
$0.00</font></font>
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   <TITLE>Ex21j</TITLE>
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Exhibit 21(j)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1998-1</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$58.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$60.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$58.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$60.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
     
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                             
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                     
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
      
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                        
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                          
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                          
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
                 
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                           
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                                  
$0.00</font></font>
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Exhibit 21(k)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1998-2</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>twelve Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$52.50</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$52.50</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
 
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                         
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
 
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                  
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                    
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
            
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
          
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
               
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                    
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                            
$0.00</font></font>
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   <TITLE>ex21l</TITLE>
</head>
<body link="#0000FF" vlink="#800080">
Exhibit 21(l)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1999-1</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>nine Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$41.12</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$41.12</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                   
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
 
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                         
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
 
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                  
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                    
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
             
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                    
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
          
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                     
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                            
$0.00</font></font>
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   <TITLE>Exhibit 21m</TITLE>
</head>
<body>
Exhibit 21(m)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1999-2</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>three Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$13.76</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$13.76</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                       
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font><font face="Courier New"><font size=-1></font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
     
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                             
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
     
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                      
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                        
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
                 
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                        
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
               
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                    
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                         
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                                
$0.00</font></font>
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   <TITLE>Exhibit 21n</TITLE>
</head>
<body>
Exhibit 21(n)
<p><font face="Courier New"><font size=-1>SEARS CREDIT ACCOUNT MASTER TRUST
II</font></font>
<br><font face="Courier New"><font size=-1>SERIES 1999-3</font></font>
<br><font face="Courier New"><font size=-1>1999 ANNUAL STATEMENT</font></font>
<p><font face="Courier New"><font size=-1>Pursuant to the terms of the
letter issued by the Securities and Exchange</font></font>
<br><font face="Courier New"><font size=-1>Commission dated June 30, 1995
(granting relief to the Trust from certain</font></font>
<br><font face="Courier New"><font size=-1>reporting requirements of the
Securities Exchange Act of 1934, as amended),</font></font>
<br><font face="Courier New"><font size=-1>aggregated information regarding
the performance of Accounts and payments</font></font>
<br><font face="Courier New"><font size=-1>to Investor Certificateholders
in respect of the Due Periods related to the</font></font>
<br><font face="Courier New"><font size=-1>one Distribution Dates which
occurred in 1999 is set forth below.</font></font>
<p><font face="Courier New"><font size=-1>1) The total amount of the distribution
to Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificateholders during 1999,
per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$3.94</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>2) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of interest
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$3.94</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>3) The amount of the distribution
set forth in paragraph</font></font>
<br><font face="Courier New"><font size=-1>1 above in respect of principal
on the Investor</font></font>
<br><font face="Courier New"><font size=-1>Certificates, per $1,000 interest.</font></font>
<p><font face="Courier New"><font size=-1>Class A                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class B                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>Class C                                  
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>4) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods.                               
     
$6,716,265,214.67</font></font>
<p><font face="Courier New"><font size=-1>5) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed</font></font>
<br><font face="Courier New"><font size=-1>during the related Due Periods.                             
$2,041,096,891.04</font></font>
<p><font face="Courier New"><font size=-1>6) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$4,897,515,881.54</font></font>
<p><font face="Courier New"><font size=-1>7) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Investor Certificates.                    
$1,489,801,869.21</font></font>
<p><font face="Courier New"><font size=-1>8) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Investor Certificates.                               
     
$167,070,362.83</font></font>
<p><font face="Courier New"><font size=-1>9) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Principal Receivables processed
during the</font></font>
<br><font face="Courier New"><font size=-1>related Due Periods which were
allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                     
$1,818,749,333.13</font></font>
<p><font face="Courier New"><font size=-1>10) The aggregate amount of Collections
of</font></font>
<br><font face="Courier New"><font size=-1>Finance Charge Receivables processed
during</font></font>
<br><font face="Courier New"><font size=-1>the related Due Periods which
were allocated</font></font>
<br><font face="Courier New"><font size=-1>in respect of the Seller Certificates.                       
$551,295,021.84</font></font>
<p><font face="Courier New"><font size=-1>11) The aggregate amount of Additional
Allocable</font></font>
<br><font face="Courier New"><font size=-1>Amounts processed during the
related Due</font></font>
<br><font face="Courier New"><font size=-1>Periods which were allocated
in respect of</font></font>
<br><font face="Courier New"><font size=-1>the Seller Certificates.                               
                
$0.00</font></font>
<p><font face="Courier New"><font size=-1>12) The excess of the Investor
Charge-Off Amount</font></font>
<br><font face="Courier New"><font size=-1>over the sum of (i) payments
in respect of the</font></font>
<br><font face="Courier New"><font size=-1>Available Subordinated Amount
and (ii) Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any (an "Investor
Loss"), per</font></font>
<br><font face="Courier New"><font size=-1>$1,000 interest.                                
                      
$0.00</font></font>
<p><font face="Courier New"><font size=-1>13) The aggregate amount of Investor
Losses in the</font></font>
<br><font face="Courier New"><font size=-1>Trust as of the end of the day
on December 15,</font></font>
<br><font face="Courier New"><font size=-1>1999, per $1,000 interest.                               
             
$0.00</font></font>
<p><font face="Courier New"><font size=-1>14) The total reimbursed to the
Trust from the sum</font></font>
<br><font face="Courier New"><font size=-1>of the Available subordinated
Amount and Excess</font></font>
<br><font face="Courier New"><font size=-1>Servicing, if any, in respect
of Investor Losses,</font></font>
<br><font face="Courier New"><font size=-1>per $1,000 interest.                                
                  
$0.00</font></font>
<p><font face="Courier New"><font size=-1>15) The amount of the Investor
Monthly Servicing Fee</font></font>
<br><font face="Courier New"><font size=-1>payable by the Trust to the
Servicer.                       
$150,120,572.16</font></font>
<p><font face="Courier New"><font size=-1>16) The Class A and Class B Controlled
Amortization</font></font>
<br><font face="Courier New"><font size=-1>Amount Shortfall, as of the
end of the reportable</font></font>
<br><font face="Courier New"><font size=-1>year.                                  
                              
$0.00</font></font>
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   <TITLE>INDEPENDENT ACCOUNTANTS' REPORT</TITLE>
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<b><font face="Arial"><font size=-1>Exhibit
28</font></font></b>
<br> 
<br> 
<p><a NAME="OLE_LINK4"></a><b><font face="Arial"><font size=-1>INDEPENDENT
ACCOUNTANTS' REPORT</font></font></b>
<p><font size=-1>Sears, Roebuck and Co.</font>
<p><font size=-1>Hoffman Estates, Illinois</font>
<p><font size=-1>We have examined management's assertion, included in the
accompanying MANAGEMENT'S REPORT ON INTERNAL <a NAME="OLE_LINK125"></a>CONTROL
RELATED TO SERVICING PROCEDURES, that as of December 31, 1999 Sears, Roebuck
and Co. (the "Company") maintained effective internal control over the
servicing and financial reporting procedures provided to Sears Credit Account
Master Trust II (the "Trust") under the terms of the Pooling and Servicing
Agreement (the "Agreement") dated as of July 31, 1994, as amended, by and
among the Company (as Servicer), SRFG, Inc. (as Seller) and Bank One, National
Association, formerly The First National Bank of Chicago (as Trustee),
insofar as such structure relates to the prevention and detection of errors
or irregularities in amounts that would be material to the assets of the
Trust<a NAME="DDE_LINK3"></a>. This assertion is the responsibility of
the Company's management. Our responsibility is to express an opinion on
the assertion based on our examination.</font>
<p><font size=-1>Our examination was made in accordance with standards
established by the American Institute of Certified Public Accountants and,
accordingly, included obtaining an understanding of the internal control
over the servicing and financial reporting procedures performed by the
Company, as Servicer, under the applicable sections of the Agreement, testing
and evaluating the design and operating effectiveness of the internal control,
and such other procedures as we considered necessary in the circumstances.
We believe that our examination provides a reasonable basis for our opinion.</font>
<p><font size=-1>Because of the inherent limitations in any internal control,
misstatements due to error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal control over servicing and
financial reporting procedures performed by the Company, as Servicer, under
the applicable sections of the Agreement, to future periods are subject
to the risk that the internal control may become inadequate because of
changes in conditions, or that the degree of compliance with the policies
or procedures may deteriorate.</font>
<p><font size=-1>In our opinion, management's assertion that the Company
maintained effective internal control over the servicing and financial
reporting procedures provided to the Trust as of December 31, 1999, insofar
as such internal control relates to the prevention and detection of misstatements
due to error or fraud in amounts that would be material to the assets of
the Trust, is fairly stated, in all material respects, based upon criteria
established by "Internal Control - Integrated Framework" issued by the
Committee of Sponsoring Organizations of the Treadway Commission.</font>
<br> 
<br> 
<p><font size=-1>/S/Deloitte & Touche LLP</font>
<br> 
<br> 
<p><font size=-1>March 3, 2000</font>
<br> 
<br> 
<br> 
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<br> 
<br> 
<br> 
<br> 
<p><b><font face="Arial">MANAGEMENT'S REPORT ON INTERNAL CONTROL RELATED
TO SERVICING PROCEDURES</font></b>
<p>The management of Sears, Roebuck and Co. (the "Company") is responsible
for establishing and maintaining effective internal control over the servicing
and financial reporting procedures provided by the Company, as Servicer,
to Sears Credit Account Master Trust II (the "Trust"), under the terms
of the Pooling and Servicing Agreement (the "Agreement") dated as of July
31, 1994, as amended and supplemented, by and among the Company, as Servicer,
SRFG, Inc., as Seller, and Bank One National Association, formerly The
First National Bank of Chicago, as Trustee.
<p>There are inherent limitations in the effectiveness of any internal
control, including the possibility of human error and the circumvention
or overriding of controls. Accordingly, even effective internal control
can provide only reasonable assurance with respect to the servicing and
financial reporting procedures provided by the Company.
<p>The Company's assessment of its internal control is based on criteria
for effective internal control described in "Internal Control-Integrated
Framework" issued by the Committee of Sponsoring Organizations of the Treadway
Commission. Management believes that the Company maintained effective internal
control over the servicing and financial reporting procedures provided
to the Trust under the terms of the Agreement as of December 31, 1999,
insofar as such internal control relates to the prevention and detection
of misstatements due to error or fraud in amounts that would be material
to the assets of the Trust.
<p>March 3, 2000
<br> 
<br> 
<dir>
<dir>/S/ Arthur C. Martinez
<br>Arthur C. Martinez
<br>Chairman of the Board of Directors, President, and Chief Executive
Officer
<br> 
<br> 
<p>/S/ Alan J. Lacy
<br>Alan J. Lacy
<br>President, Services</dir>
</dir>

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