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Previous: CYBEX COMPUTER PRODUCTS CORP, DEF 14A, 1996-06-25 |
Next: AT&T UNIVERSAL FUNDING CORP, 424B5, 1996-06-25 |
<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------
FORM 10-K
FOR ANNUAL AND TRANSITION REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
(MARK ONE)
X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1995
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from ________ to ___________
Commission File Number 33-93806
AT&T Universal Card Funding Corp.
(Originator of the AT&T Universal Card Master Trust)
AT&T Universal Card Master Trust
(Issuer of the Asset Backed Certificates)
------------------------------------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 59-3325080
---------------------------------- ------------------------------
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION) IDENTIFICATION)
5201 Amelia Earhart Drive Suite 1001
Salt Lake City, Utah 84116
-------------------------------------- ---------
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (801) 578-0619
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of each class Name of each exchange on which registered
------------------- -----------------------------------------
Not Applicable
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
Class A Series 1995-1 Floating Rate Asset Backed Certificates
Class B Series 1995-1 Floating Rate Asset Backed Certificates
Class A Series 1995-2 5.95% Asset Backed Certificates
Class B Series 1995-2 6.10% Asset Backed Certificates
Class A Series 1995-3 Floating Rate Asset Backed Certificates
Class B Series 1995-3 Floating Rate Asset Backed Certificates
<PAGE> 2
- -------------------------------------------------------------------------------
(Title of class)
Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities and Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No
----------- ----------
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. / /
2
<PAGE> 3
PART I
Items 1. Business.
Not Applicable.
Item 2. Properties.
Pursuant to Section 3.04(b) of the Pooling and Servicing Agreement,
dated as of August 1, 1995 relating to the AT&T Universal Card Master Trust
among AT&T Universal Funding Corp., as Transferor, AT&T Universal Card Services
Corp., as Servicer, and Bankers Trust Company, as Trustee, AT&T Universal Card
Services Corp., as Servicer, is required to deliver to the Trustee a monthly
servicer certificate (the "Monthly Report") for each outstanding series of
investor certificates. Exhibits 20.1, 20.2 and 20.3 contain the Annual
Statement for Series 1995-1, Series 1995-2 and Series 1995-3 aggregating the
information for each such series contained in the Monthly Reports for calendar
year 1995.
Item 3. Legal Proceedings.
None.
Item 4. Submission of Matters to a vote of Security-Holders.
None.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholders
Matters.
The certificates representing investors' interests in the Trust are
represented by one or more Certificates registered in the name of Cede & Co.,
the nominee of the Depository Trust Company.
To the best knowledge of the registrant, there is no established
public trading market for the Certificates.
Item 6. Selected Financial Data.
Not Applicable.
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
Not Applicable.
Item 8. Financial Statements and Supplementary Data.
Not Applicable.
Item 9. Changes in and Disagreements With Accountants on Accounting and
Financial Disclosure.
3
<PAGE> 4
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Not Applicable.
Item 11. Executive Compensation.
Not Applicable.
Item 12. Security Ownership of Certain Beneficial Owners and Management.
(a) the Certificates of each Class of Series representing investors'
interests in the Trust are represented by one or more Certificates registered
in the name of Cede & Co., the nominee of The Depository Trust Company ("DTC"),
and an investor holding an interest in the Trust is not entitled to receive a
Certificate representing such interest except in certain limited circumstances.
Accordingly, Cede & Co. is the sole holder of record of Certificates, which it
held on behalf of brokers, dealers, banks and other direct participants in the
DTC system at December 31, 1995. Such direct participants may hold
Certificates for their own accounts or for the accounts of their customers. At
December 31, 1995, the following direct DTC participants held positions in the
Certificates representing interests in the Trust equal to or exceeding 5% of
the total principal amount of the Certificates of each Class of each Series
outstanding on that date:
SERIES 1995-1
<TABLE>
<CAPTION>
Participant Quantity Percentage
----------- -------- ----------
<S> <C> <C>
Class A
Bank of New York $ 82,750,000 10%
Bankers Trust Company $435,000,000 50%
Northern Trust Company-Trust $220,000,000 25%
Class B
Bank of New York $20,000,000 33%
Barclays Bank PLC $15,000,000 25%
Fuji Bank & Trust Company $25,000,000 42%
</TABLE>
4
<PAGE> 5
SERIES 1995-2
<TABLE>
<CAPTION>
Participant Quantity Percentage
----------- -------- ----------
Class A
<S> <C> <C>
Bankers Trust Company $82,426,000 12%
Boston Safe Deposit & Trust Company $38,370,000 6%
The Chase Manhattan Bank, N.A. $55,030,000 8%
J.P. Morgan Securities Inc.,
Asset-Backed $60,000,000 9%
Morgan Guaranty Trust Co. of New York $52,000,000 8%
Nations Bank of Texas, N.A. $55,586,000 8%
SSB-Custodian $99,107,000 15%
Class B
The Chase Manhattan Bank, N.A. $15,000,000 42%
Chemical Bank $18,625,000 52%
Shawmut Bank $ 2,000,000 6%
</TABLE>
SERIES 1995-3
<TABLE>
<CAPTION>
Participant Quantity Percentage
----------- -------- ----------
<S> <C> <C>
Class A
Bankers Trust Company $ 45,250,000 7%
Brown Brothers Harriman & Co. $ 36,650,000 6%
The Chase Manhattan Bank, N.A. $ 98,665,000 15%
Citibank, N.A. $ 74,000,000 11%
The Dai-Ichi Kangyo Bank Limited $ 70,000,000 11%
Morgan Guaranty Trust Co. of New York $195,250,000 30%
Class B
First National Bank of Chicago $ 20,000,000 44%
Fuji Bank & Trust Company $ 25,000,000 56%
</TABLE>
The address of each above participant is:
c/o The Depository Trust Company
55 Water Street
New York, New York 10041
(b) Not Applicable.
(c) Not Applicable.
Item 13. Certain Relationships and Related Transactions.
None.
PART IV
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K.
(a) The following are filed as part of this report.
Exhibit 20.1 Annual Statement for the Period Ending
5
<PAGE> 6
December 31, 1995 with respect to the AT&T
Universal Card Master Trust Series 1995-1.
Exhibit 20.2 Annual Statement for the Period Ending
December 31, 1995 with respect to the AT&T
Universal Card Master Trust Series 1995-2.
Exhibit 20.3 Annual Statement for the Period Ending
December 31, 1995 with respect to the AT&T
Universal Card Master Trust Series 1995-3.
Exhibit 20.4 Agreed Upon Procedures Letter, dated March
29, 1996, issued by Coopers & Lybrand LLP.
Exhibit 20.5 AT&T Universal Card Services Corp. Officers
Certificate dated March 29, 1996.
(b) No reports on Form 8-K were filed by the registrant during the
quarter ending December 31, 1995.
6
<PAGE> 7
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
AT&T UNIVERSAL CARD MASTER TRUST
BY: AT&T UNIVERSAL CARD SERVICES CORP.,
AS SERVICER
By: /s/ Robert A. Miller
---------------------------
Name: Robert A. Miller
Title: Vice President Finance
7
<PAGE> 8
<TABLE>
<CAPTION>
EXHIBIT DESCRIPTION PAGE
- ------- ----------- ----
<S> <C>
Exhibit 20.1 Annual Statement for the Period Ending December
31, 1995 with respect to the AT&T Universal
Card Master Trust Series 1995-1.
Exhibit 20.2 Annual Statement for the Period Ending December
31, 1995 with respect to the AT&T Universal
Card Master Trust Series 1995-2.
Exhibit 20.3 Annual Statement for the Period Ending December
31, 1995 with respect to the AT&T Universal
Card Master Trust Series 1995-3.
Exhibit 20.4 Agreed Upon Procedures Letter, dated March 29,
1996, issued by Coopers & Lybrand LLP.
Exhibit 20.5 AT&T Universal Card Services Corp. Officers
Certificate dated March 29, 1996.
</TABLE>
8
<PAGE> 1
EXHIBIT 20.1
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1995-1
FOR THE PERIOD ENDING DECEMBER 31, 1995
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1995-1 Supplement dated as of
08/01/95 (the "Supplement") among UCS, Funding" and the Trustee, as Servicer is
required to prepare certain information each Period regarding current
distributions to the Series 1995-1 Certificateholders and the performance of
the AT&T Universal Card Master Trust (the "Trust") during the year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 08/01/95 - 12/31/95 is set forth below. Certain
of the information is presented on the basis of an original principal amount of
$1,000 per Series 1995-1 Certificate (a "Certificate"). Certain other
information is presented based on the aggregate amounts for the Trust as a
whole. Capitalized terms used in this Annual Statement have their respective
meanings set forth in the Pooling and Servicing Agreement and the Supplement.
<TABLE>
<S> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $12.90250000
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $12.90250000
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
1
<PAGE> 2
<TABLE>
<S> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
-----
(2) The amount of Class A Investors
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
-----
(3) The total amount reimbursed in
respect of Class A Investor Charge
Offs $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount 13.16250000
-----------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount 13.16250000
-----------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
2
<PAGE> 3
<TABLE>
<S> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
-----
(3) The total amount reimbursed in
respect of such reductions in the
Class B Invested Amount $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $1,304,989.59
-------------
(2) The amount distributed to the
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
-----
(2) The total amount reimbursed in
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /s/ Evelyn Nagel
--------------------------------
Name: Evelyn Nagel
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Period Principal Receivables (08/01/95): $6,030,037,436.00
-----------------
Beginning of the Period Finance Charge Receivables (08/01/95): $74,708,507.00
--------------
Beginning of the Period Discounted Receivables: $0.00
-----
Beginning of the Period Premium Receivables: $0.00
-----
Beginning of the Period Total Receivables (08/01/95): $6,104,745,943.00
-----------------
Removed Principal Receivables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Period Principal Receivables (12/31/95): $6,298,334,552.65
-----------------
End of the Period Finance Charge Receivables (12/31/95): $85,513,243.65
--------------
End of the Period Discounted Receivables: $0.00
-----
End of the Period Premium Receivables: $0.00
-----
End of the Period Total Receivables (12/31/95): $6,383,847,796.30
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $3,500,000,000.00
-----------------
End of the Period Transferor Amount $12,445,807,771.88
------------------
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
<S> <C>
End of the Period Delinquencies:
30-60 Days Delinquent $71,038,922.31
--------------
61-90 Days Delinquent $50,016,732.79
---------------
90+ Days Delinquent $95,791,430.93
--------------
Total 30+ Days Delinquent $216,847,086.03
---------------
Defaulted Accounts During the Period $143,251,112.06
---------------
</TABLE>
4
<PAGE> 5
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $870,000,000
------------
Class B Initial Invested Amount $60,000,000
-----------
Collateral Initial Invested Amount $70,000,000
-----------
INITIAL INVESTED AMOUNT $1,000,000,000
--------------
Class A Invested Amount $870,000,000.00
---------------
Class B Invested Amount $60,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
INVESTED AMOUNT $1,000,000,000
--------------
Class A Adjusted Invested Amount $870,000,000.00
---------------
Class B Adjusted Invested Amount $60,000,000.00
--------------
Collateral Invested Amount $70,000,000.00
--------------
ADJUSTED INVESTED AMOUNT $1,000,000,000
--------------
ANNUAL SERVICING FEE $6,722,222.23
-------------
INVESTOR DEFAULT AMOUNT $23,572,426.50
--------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 6.00%
-----
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $101,449,788.88
---------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $30,970,279.23
--------------
GROUP 1 INVESTOR ANNUAL FEES $8,638,888.89
-------------
GROUP 1 INVESTOR ANNUAL INTEREST $31,063,457.81
--------------
SERIES 1995-1 INFORMATION
SERIES 1995-1 ALLOCATION PERCENTAGE 67.13%
------
SERIES 1995-1 ALLOCABLE FINANCE CHARGE $342,304,915.66
---------------
COLLECTIONS
SERIES 1995-1 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-1 ALLOCABLE DEFAULTED AMOUNT $103,745,005.08
---------------
SERIES 1995-1 ANNUAL FEES $6,722,222.23
-------------
SERIES 1995-1 ALLOCABLE PRINCIPAL COLLECTIONS $3,691,419,516.24
-----------------
SERIES 1995-1 REQUIRED TRANSFEROR AMOUNT $70,000,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 32.86%
------
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $75,984,068.46
--------------
INVESTOR DEFAULT AMOUNT $23,572,426.50
--------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $78,383,132.84
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 32.86%
------
AVAILABLE PRINCIPAL COLLECTIONS $810,366,653.11
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
------
Class A Floating Percentage of Reallocated $68,290,951.46
--------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $68,290,951.46
--------------
Class A Annual Interest $20,003,837.50
--------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $20,508,011.06
--------------
TOTAL CLASS A EXCESS SPREAD $27,779,102.92
--------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
-----
CLASS B AVAILABLE FUNDS $4,709,720.79
-------------
Class B Annual Interest $1,407,375.00
-------------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $3,302,345.79
-------------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
-----
COLLATERAL AVAILABLE FUNDS $5,494,674.26
-------------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $5,494,674.26
-------------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $36,576,122.97
--------------
</TABLE>
6
<PAGE> 7
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Charge $0.00
-----
Offs
Excess Spread Applied to Class B Required Amount $1,414,345.59
-------------
Excess Spread Applied to Reductions of Class B $0.00
-----
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $1,668,843.76
-------------
Interest
Excess Spread Applied to Unpaid Annual $6,722,222.23
-------------
Servicing Fee
Excess Spread Applied Collateral Default Amount $1,650,069.85
-------------
Excess Spread Applied to Reductions of $0.00
-----
Collateral Invested Amount Pursuant to Clauses
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
-----
Collateral Interest Holder
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $25,120,641.55
--------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $41,796,981.45
--------------
FOR ALL ALLOCATION SERIES
SERIES 1995-1 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
-----
ALLOCATED TO SERIES 1995-1
Excess Finance Charge Collections Applied to $0.00
-----
Class A Required Amount
Excess Finance Charge Collections Applied to $0.00
-----
Class A Investor Charge Offs
Excess Finance Charge Collections Applied to $0.00
-----
Class B Required Amount
Excess Finance Charge Collections Applied to $0.00
-----
Reductions of Class B Invested Amount Pursuant
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
-----
Collateral Annual Interest
Excess Finance Charge Collections Applied to $0.00
-----
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
-----
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
-----
Reductions of Collateral Invested Amount
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
-----
Reserve Account
Excess Finance Charge Collections Applied to $0.00
-----
Other Amounts Owed to Collateral Interest Holder
YIELD, BASE, EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 8.08%
-----
AVERAGE SERIES ADJUSTED PORTFOLIO 13.18%
------
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 5.10%
-----
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
------
Class A Principal Collections $705,018,988.21
---------------
CLASS B PRINCIPAL PERCENTAGE 6.00%
-----
Class B Principal Collections $48,621,999.18
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
-----
Collateral Principal Collections $56,725,665.72
--------------
AVAILABLE PRINCIPAL COLLECTIONS $810,366,653.11
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1995-1 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
-----
PRINCIPAL SHARING SERIES
</TABLE>
8
<PAGE> 9
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $833,939,079.61
---------------
PRINCIPAL SHARING SERIES
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
-----
BY PRINCIPAL PAYMENTS)
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
-----
THAN BY PRINCIPAL PAYMENTS)
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
-----
REIMBURSED
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /s/ Evelyn Nagel
---------------------------------
Name: Evelyn Nagel
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 20.2
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1995-2
FOR THE PERIOD ENDING DECEMBER 31, 1995
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1995-2 Supplement dated as of
11/15/95 (the "Supplement") among UCS, Funding" and the Trustee, as Servicer is
required to prepare certain information each month regarding current
distributions to the Series 1995-2 Certificateholders and the performance of
the AT&T Universal Card Master Trust (the "Trust") during the year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 11/01/95 - 12/31/95 is set forth below. Certain
of the information is presented on the basis of an original principal amount of
$1,000 per Series 1995-2 Certificate (a "Certificate"). Certain other
information is presented based on the aggregate amounts for the Trust as a
whole. Capitalized terms used in this Annual Statement have their respective
meanings set forth in the Pooling and Servicing Agreement and the Supplement.
<TABLE>
<S> <C> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $10.24722222
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $10.24722222
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
1
<PAGE> 2
<TABLE>
<S> <C> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
-----
(2) The amount of Class A Investors
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
-----
(3) The total amount reimbursed in
respect of Class A Investor Charge
Offs $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $10.50555565
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $10.50555565
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
2
<PAGE> 3
<TABLE>
<S> <C> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
-----
(3) The total amount reimbursed in
respect of such reductions in the
Class B Invested Amount $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $428,736.32
-----------
(2) The amount distributed to the
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
-----
(2) The total amount reimbursed in
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /s/ Evelyn Nagel
----------------------------
Name: Evelyn Nagel
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Period Principal Receivables (11/01/95): $6,086,957,320.77
-----------------
Beginning of the Period Finance Charge Receivables (11/01/95): $162,366,870.07
---------------
Beginning of the Period Discounted Receivables: $0.00
-----
Beginning of the Period Premium Receivables: $0.00
-----
Beginning of the Period Total Receivables (11/01/95): $6,249,324,190.84
-----------------
Removed Principal Receivables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Period Principal Receivables (12/31/95): $6,298,334,552.65
-----------------
End of the Period Finance Charge Receivables (12/31/95): $85,513,243.65
--------------
End of the Period Discounted Receivables: $0.00
-----
End of the Period Premium Receivables: $0.00
-----
End of the Period Total Receivables (12/31/95): $6,383,847,796.30
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $3,500,000,000.00
-----------------
End of the Period Transferor Amount $1,631,511,222.28
-----------------
</TABLE>
<TABLE>
<S> <C>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
End of the Period Delinquencies:
30-60 Days Delinquent $71,038,922.31
--------------
61-90 Days Delinquent $50,016,732.79
--------------
90+ Days Delinquent $95,791,430.93
--------------
Total 30+ Days Delinquent $216,847,086.03
---------------
Defaulted Accounts During the Period $60,144,145.01
--------------
</TABLE>
4
<PAGE> 5
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $675,000,000
------------
Class B Initial Invested Amount $35,625,000
-----------
Collateral Initial Invested Amount $39,375,000
-----------
INITIAL INVESTED AMOUNT $750,000,000
------------
Class A Invested Amount $675,000,000.00
---------------
Class B Invested Amount $35,625,000.00
--------------
Collateral Invested Amount $39,375,000.00
--------------
INVESTED AMOUNT $750,000,000
------------
Class A Adjusted Invested Amount $675,000,000.00
---------------
Class B Adjusted Invested Amount $35,625,000.00
--------------
Collateral Invested Amount $39,375,000.00
--------------
ADJUSTED INVESTED AMOUNT $750,000,000
------------
ANNUAL SERVICING FEE $1,916,666.67
-------------
INVESTOR DEFAULT AMOUNT $7,397,852.73
-------------
GROUP II INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 5.97%
-----
IN GROUP II
GROUP II INVESTOR FINANCE CHARGE COLLECTIONS $23,066,656.05
--------------
GROUP II INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP II INVESTOR DEFAULT AMOUNT $7,397,852.73
-------------
GROUP II INVESTOR ANNUAL FEES $1,916,666.67
-------------
GROUP II INVESTOR ANNUAL INTEREST $7,719,871.74
-------------
SERIES 1995-2 INFORMATION
SERIES 1995-2 ALLOCATION PERCENTAGE 25.69%
------
SERIES 1995-2 ALLOCABLE FINANCE CHARGE $46,915,754.67
--------------
COLLECTIONS
SERIES 1995-2 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-2 ALLOCABLE DEFAULTED AMOUNT $15,478,528.52
--------------
SERIES 1995-2 ANNUAL FEES $1,916,666.67
-------------
SERIES 1995-2 ALLOCABLE PRINCIPAL COLLECTIONS $483,271,083.85
---------------
SERIES 1995-2 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 49.26%
------
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $22,380,773.35
--------------
INVESTOR DEFAULT AMOUNT $7,397,852.73
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $23,066,656.06
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 49.26%
------
AVAILABLE PRINCIPAL COLLECTIONS $230,810,386.33
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 90.00%
------
Class A Floating Percentage of Reallocated $20,759,990.45
--------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $20,759,990.45
--------------
Class A Annual Interest $6,916,875.00
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $6,658,067.47
-------------
TOTAL CLASS A EXCESS SPREAD $7,185,047.99
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 4.75%
-----
CLASS B AVAILABLE FUNDS $1,095,666.16
-------------
Class B Annual Interest $374,260.42
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $721,405.74
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 5.25%
-----
COLLATERAL AVAILABLE FUNDS $1,210,999.45
-------------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $1,210,999.45
-------------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $9,117,453.17
-------------
</TABLE>
6
<PAGE> 7
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Chargeoffs $0.00
-----
Excess Spread Applied to Class B Required Amount $351,398.00
-----------
Excess Spread Applied to Reductions of Class B $0.00
-----
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $428,736.32
-----------
Interest
Excess Spread Applied to Unpaid Annual $1,916,666.67
-------------
Servicing Fee
Excess Spread Applied Collateral Default Amount $388,387.27
-----------
Excess Spread Applied to Reductions of $0.00
-----
Collateral Invested Amount Pursuant to Clauses
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
-----
Collateral Interest Holder
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $6,032,264.91
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $19,230,814.85
--------------
FOR ALL ALLOCATION SERIES
SERIES 1995-2 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
-----
ALLOCATED TO SERIES 1995-2
Excess Finance Charge Collections Applied to $0.00
-----
Class A Required Amount
Excess Finance Charge Collections Applied to $0.00
-----
Class A Investor Charge Offs
Excess Finance Charge Collections Applied to $0.00
-----
Class B Required Amount
Excess Finance Charge Collections Applied to $0.00
-----
Reductions of Class B Invested Amount Pursuant
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
-----
Collateral Annual Interest
Excess Finance Charge Collections Applied to $0.00
-----
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
-----
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
-----
Reductions of Collateral Invested Amount
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
-----
Reserve Account
Excess Finance Charge Collections Applied to $0.00
-----
Other Amounts Owed to Collateral Interest Holder
YIELD, BASE, AND EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 7.71%
-----
AVERAGE SERIES ADJUSTED PORTFOLIO 12.54%
------
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 4.83%
-----
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 90.00%
------
Class A Principal Collections $207,729,347.70
---------------
CLASS B PRINCIPAL PERCENTAGE 4.75%
-----
Class B Principal Collections $10,963,493.35
--------------
COLLATERAL PRINCIPAL PERCENTAGE 5.25%
-----
Collateral Principal Collections $12,117,545.29
--------------
AVAILABLE PRINCIPAL COLLECTIONS $230,810,386.34
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1995-2 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
-----
PRINCIPAL SHARING SERIES
</TABLE>
8
<PAGE> 9
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $238,208,239.06
---------------
PRINCIPAL SHARING SERIES
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
BY PRINCIPAL PAYMENTS) -----
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
-----
THAN BY PRINCIPAL PAYMENTS)
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
-----
REIMBURSED
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
-----
REIMBURSED
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /s/ Evelyn Nagel
-----------------------------
Name: Evelyn Nagel
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 20.3
AT&T UNIVERSAL CARD MASTER TRUST
ANNUAL STATEMENT
SERIES 1995-3
FOR THE PERIOD ENDING DECEMBER 31, 1995
Pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995
(hereinafter as such agreement may have been or may be from time to time,
amended or otherwise modified, the "Pooling and Servicing Agreement"), among
AT&T Universal Card Services Corp. ("UCS") as Servicer, AT&T Universal Funding
Corp. ("Funding"), as Transferor, and Bankers Trust Company, as trustee (the
'Trustee'), as supplemented by the Series 1995-3 Supplement dated as of
11/15/95 (the "Supplement") among UCS, Funding" and the Trustee, as Servicer is
required to prepare certain information each month regarding current
distributions to the Series 1995-3 Certificateholders and the performance of
the AT&T Universal Card Master Trust (the "Trust") during the year. The
information which is required to be prepared with respect to the performance of
the Trust during the period of 11/01/95 - 12/31/95 is set forth below. Certain
of the information is presented on the basis of an original principal amount of
$1,000 per Series 1995-3 Certificate (a "Certificate"). Certain other
information is presented based on the aggregate amounts for the Trust as a
whole. Capitalized terms used in this Monthly Statement have their respective
meanings set forth in the Pooling and Servicing Agreement and the Supplement.
<TABLE>
<S> <C> <C>
A) Information regarding distribution in
respect of the Class A Certificates
per $1,000 original certificate
principal amount.
(1) The total amount of the
distribution in respect of Class A
Certificates, per $1,000 original
certificate principal amount $10.61375001
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class A
Certificates, per $1,000 original
certificate principal amount $10.61375001
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class A
Certificates, per $1,000 original
certificate principal amount $0.00
-----
</TABLE>
1
<PAGE> 2
<TABLE>
<S> <C> <C>
B) Class A Investor Charge Offs and
Reimbursement of Charge Offs
(1) The amount of Class A Investor
Charge Offs $0.00
-----
(2) The amount of Class A Investors
Charge Offs set forth in paragraph 1
above, per $1,000 original certificate
principal amount $0.00
-----
(3) The total amount reimbursed in
respect of Class A Investor Charge
Offs $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class A Certificates exceeds the Class
A Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
C) Information regarding distributions in
respect of the Class B Certificates,
per $1,000 original certificate
principal amount
(1) The total amount of the
distribution in respect of Class B
Certificates, per $1,000 original
certificate principal amount $10.80625000
------------
(2) The amount of the distribution
set forth in paragraph 1 above in
respect of interest on the Class B
Certificates, per $1,000 original
certificate principal amount $10.80625000
------------
(3) The amount of the distribution
set forth in paragraph 1 above in
respect of principal of the Class B
Certificates, per $1,000 original
certificate principal amount $0.00
-----
D) Amount of reductions in Class B
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount
(1) The amount of reductions in Class
B Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Class B Invested Amount $0.00
-----
</TABLE>
2
<PAGE> 3
<TABLE>
<S> <C> <C>
(2) The amount of reductions in
the Class B Invested Amount set forth
in paragraph 1 above, per $1,000
original certificate principal amount $0.00
-----
(3) The total amount reimbursed in
respect of such reductions in the
Class B Invested Amount $0.00
-----
(4) The amount set forth in paragraph
3 above, per $1,000 original
certificate principal amount $0.00
-----
(5) The amount, if any, by which the
outstanding principal balance of the
Class B Certificates exceeds the Class
B Invested Amount after giving effect
to all transactions on such
Distribution Date $0.00
-----
E) Information regarding certain
distributions to the Collateral
Interest Holder
(1) The amount distributed to the
Collateral Interest Holder in respect
of interest on the Collateral Invested
Amount $571,648.44
-----------
(2) The amount distributed to the
Collateral Interest Holder in respect
of principal on the Collateral
Invested Amount $0.00
-----
F) Amount of reductions in Collateral
Invested Amount pursuant to clauses
(c), (d), and (e) of the definition of
Collateral Invested Amount
(1) The amount of reductions in the
Collateral Invested Amount pursuant to
clauses (c), (d), and (e) of the
definition of Collateral Invested
Amount $0.00
-----
(2) The total amount reimbursed in
respect of such reductions in the
Collateral Invested Amount $0.00
-----
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
Servicer
By /s/ Evelyn Nagel
------------------------------
Name: Evelyn Nagel
Title: Servicing Officer
3
<PAGE> 4
<TABLE>
<S> <C>
RECEIVABLES ---
Beginning of the Period Principal Receivables (11/01/95): $6,086,957,320.77
-----------------
Beginning of the Period Finance Charge Receivables (11/01/95): $162,366,870.07
---------------
Beginning of the Period Discounted Receivables: $0.00
-----
Beginning of the Period Premium Receivables: $0.00
-----
Beginning of the Period Total Receivables (11/01/95): $6,249,324,190.84
-----------------
Removed Principal Receivables: $0.00
-----
Removed Finance Charge Receivables: $0.00
-----
Removed Total Receivables: $0.00
-----
Additional Principal Receivables: $0.00
-----
Additional Finance Charge Receivables: $0.00
-----
Additional Total Receivables: $0.00
-----
Discounted Receivables Generated this Period: $0.00
-----
Premium Receivables Generated this Period: $0.00
-----
End of the Period Principal Receivables (12/31/95): $6,298,334,552.65
-----------------
End of the Period Finance Charge Receivables (12/31/95): $85,513,243.65
--------------
End of the Period Discounted Receivables: $0.00
-----
End of the Period Premium Receivables: $0.00
-----
End of the Period Total Receivables (12/31/95): $6,383,847,796.30
-----------------
Special Funding Account Balance $0.00
-----
Aggregate Invested Amount (all Master Trust Series) $3,500,000,000.00
-----------------
End of the Period Transferor Amount $1,631,511,222.28
-----------------
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCIES AND LOSSES ---
RECEIVABLES
<S> <C>
End of the Period Delinquencies:
30-60 Days Delinquent $71,038,922.31
--------------
61-90 Days Delinquent $50,016,732.79
--------------
90+ Days Delinquent $95,791,430.93
--------------
Total 30+ Days Delinquent $216,847,086.03
---------------
Defaulted Accounts During the Period $60,144,145.01
--------------
</TABLE>
4
<PAGE> 5
<TABLE>
<S> <C> <C>
INVESTED AMOUNTS ---
Class A Initial Invested Amount $652,500,000
------------
Class B Initial Invested Amount $45,000,000
-----------
Collateral Initial Invested Amount $52,500,000
-----------
INITIAL INVESTED AMOUNT $750,000,000
------------
Class A Invested Amount $652,500,000
------------
Class B Invested Amount $45,000,000
-----------
Collateral Invested Amount $52,500,000
-----------
INVESTED AMOUNT $750,000,000
------------
Class A Adjusted Invested Amount $652,500,000
------------
Class B Adjusted Invested Amount $45,000,000
-----------
Collateral Invested Amount $52,500,000
-----------
ADJUSTED INVESTED AMOUNT $750,000,000
------------
ANNUAL SERVICING FEE $1,916,666.67
-------------
INVESTOR DEFAULT AMOUNT $7,397,852.73
-------------
GROUP 1 INFORMATION
WEIGHTED AVERAGE CERTIFICATE RATE FOR ALL SERIES 6.02%
-----
IN GROUP 1
GROUP 1 INVESTOR FINANCE CHARGE COLLECTIONS $53,822,197.46
--------------
GROUP 1 INVESTOR ADDITIONAL AMOUNTS $0.00
-----
GROUP 1 INVESTOR DEFAULT AMOUNT $17,261,656.38
--------------
GROUP 1 INVESTOR ANNUAL FEES $5,250,000.00
-------------
GROUP 1 INVESTOR ANNUAL INTEREST $18,111,991.14
--------------
SERIES 1995-3 INFORMATION
SERIES 1995-3 ALLOCATION PERCENTAGE 25.69%
------
SERIES 1995-3 ALLOCABLE FINANCE CHARGE $46,915,754.67
--------------
COLLECTIONS
SERIES 1995-3 ADDITIONAL AMOUNTS $0.00
-----
SERIES 1995-3 ALLOCABLE DEFAULTED AMOUNT $15,478,528.52
--------------
SERIES 1995-3 ANNUAL FEES $1,916,666.67
-------------
SERIES 1995-3 ALLOCABLE PRINCIPAL COLLECTIONS $483,271,083.85
---------------
SERIES 1995-3 REQUIRED TRANSFEROR AMOUNT $52,500,000.00
--------------
FLOATING ALLOCATION PERCENTAGE 49.26%
------
</TABLE>
5
<PAGE> 6
<TABLE>
<S> <C> <C>
INVESTOR FINANCE CHARGE COLLECTIONS $22,380,773.35
--------------
INVESTOR DEFAULT AMOUNT $7,397,852.73
-------------
REALLOCATED INVESTOR FINANCE CHARGE COLLECTIONS $23,066,656.06
--------------
PRINCIPAL ALLOCATIONS PERCENTAGE 49.26%
------
AVAILABLE PRINCIPAL COLLECTIONS $230,810,386.33
---------------
CLASS A AVAILABLE FUNDS ---
CLASS A FLOATING PERCENTAGE 87.00%
------
Class A Floating Percentage of Reallocated $19,970,364.86
--------------
Investor Finance Charge Collections
Other Amounts $0.00
-----
TOTAL CLASS A AVAILABLE FUNDS $19,970,364.86
--------------
Class A Annual Interest $6,925,471.88
-------------
Class A Servicing Fee (if applicable) $0.00
-----
Class A Investor Default Amount $6,436,131.87
-------------
TOTAL CLASS A EXCESS SPREAD $6,608,761.10
-------------
CLASS A REQUIRED AMOUNT $0.00
-----
CLASS B AVAILABLE FUNDS ---
CLASS B FLOATING PERCENTAGE 6.00%
-----
CLASS B AVAILABLE FUNDS $1,377,266.54
-------------
Class B Annual Interest $486,281.25
-----------
Class B Servicing Fee (if applicable) $0.00
-----
TOTAL CLASS B EXCESS SPREAD $890,985.29
-----------
COLLATERAL AVAILABLE FUNDS --
COLLATERAL FLOATING PERCENTAGE 7.00%
-----
COLLATERAL AVAILABLE FUNDS $1,606,810.97
-------------
Collateral Interest Servicing Fee (if applicable) $0.00
-----
TOTAL COLLATERAL EXCESS SPREAD $1,606,810.97
-------------
EXCESS SPREAD ---
TOTAL EXCESS SPREAD $9,106,557.36
-------------
</TABLE>
6
<PAGE> 7
<TABLE>
<S> <C>
Excess Spread Applied to Class A Required Amount $0.00
-----
Excess Spread Applied to Class A Investor Charge $0.00
-----
Offs
Excess Spread Applied to Class B Required Amount $443,871.16
-----------
Excess Spread Applied to Reductions of Class B $0.00
-----
Invested Amount pursuant to clauses (c), (d) and (e)
Excess Spread Applied to Collateral Annual $571,648.44
-----------
Interest
Excess Spread Applied to Unpaid Annual $1,916,666.67
-------------
Servicing Fee
Excess Spread Applied Collateral Default Amount $517,849.69
-----------
Excess Spread Applied to Reductions of $0.00
-----
Collateral Invested Amount Pursuant to Clauses
(c), (d) and (e)
Excess Spread Applied to Reserve Account $0.00
-----
Excess Spread Applied to Other Amounts Owed to $0.00
-----
Collateral Interest Holder
TOTAL EXCESS FINANCE CHARGE COLLECTIONS ELIGIBLE
FOR OTHER EXCESS ALLOCATION SERIES $5,656,521.40
-------------
EXCESS FINANCE CHARGES COLLECTIONS
TOTAL EXCESS FINANCE CHARGE COLLECTIONS $19,230,814.85
--------------
FOR ALL ALLOCATION SERIES
SERIES 1995-3 EXCESS FINANCE CHARGE COLLECTIONS ---
EXCESS FINANCE CHARGE COLLECTIONS $0.00
-----
ALLOCATED TO SERIES 1995-3
Excess Finance Charge Collections Applied to $0.00
-----
Class A Required Amount
Excess Finance Charge Collections Applied to $0.00
-----
Class A Investor Charge Offs
Excess Finance Charge Collections Applied to $0.00
-----
Class B Required Amount
Excess Finance Charge Collections Applied to $0.00
-----
Reductions of Class B Invested Amount Pursuant
to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
-----
Collateral Annual Interest
Excess Finance Charge Collections Applied to $0.00
-----
Unpaid Annual Servicing Fee
Excess Finance Charge Collections Applied to $0.00
-----
Collateral Default Amount
</TABLE>
7
<PAGE> 8
<TABLE>
<S> <C> <C>
Excess Finance Charge Collections Applied to $0.00
-----
Reductions of Collateral Invested Amount
Pursuant to Clauses (c), (d) and (e)
Excess Finance Charge Collections Applied to $0.00
-----
Reserve Account
Excess Finance Charge Collections Applied to $0.00
-----
Other Amounts Owed to Collateral Interest Holder
YIELD, BASE, AND EXCESS SPREAD RATE---
AVERAGE BASE RATE FOR THE PERIOD 7.92%
-----
AVERAGE SERIES ADJUSTED PORTFOLIO 12.45%
------
YIELD FOR THE PERIOD
AVERAGE EXCESS SPREAD RATE FOR THE PERIOD 4.53%
-----
PRINCIPAL COLLECTIONS---
CLASS A PRINCIPAL PERCENTAGE 87.00%
------
Class A Principal Collections $200,805,036.11
---------------
CLASS B PRINCIPAL PERCENTAGE 6.00%
-----
Class B Principal Collections $13,848,623.18
--------------
COLLATERAL PRINCIPAL PERCENTAGE 7.00%
-----
Collateral Principal Collections $16,156,727.04
--------------
AVAILABLE PRINCIPAL COLLECTIONS $230,810,386.33
---------------
REALLOCATED PRINCIPAL COLLECTIONS $0.00
-----
SERIES 1995-3 PRINCIPAL SHORTFALL $0.00
-----
SHARED PRINCIPAL COLLECTIONS ALLOCABLE FROM OTHER $0.00
-----
PRINCIPAL SHARING SERIES
</TABLE>
8
<PAGE> 9
<TABLE>
<S> <C> <C>
ACCUMULATION ---
Controlled Accumulation Amount $0.00
-----
Deficit Controlled Accumulation Amount $0.00
-----
CONTROLLED DEPOSIT AMOUNT $0.00
-----
PRINCIPAL FUNDING ACCOUNT BALANCE $0.00
-----
SHARED PRINCIPAL COLLECTIONS ELIGIBLE FOR OTHER $238,208,239.06
---------------
PRINCIPAL SHARING SERIES
INVESTOR CHARGE OFFS AND REIMBURSEMENTS--
CLASS A INVESTOR CHARGE OFFS $0.00
-----
REDUCTIONS IN CLASS B INVESTED AMOUNT (OTHER THAN $0.00
-----
BY PRINCIPAL PAYMENTS)
REDUCTIONS IN COLLATERAL INVESTED AMOUNT (OTHER $0.00
-----
THAN BY PRINCIPAL PAYMENTS)
PREVIOUS CLASS A CHARGE OFFS REIMBURSED $0.00
-----
PREVIOUS CLASS B INVESTED AMOUNT REDUCTIONS $0.00
REIMBURSED -----
PREVIOUS COLLATERAL INVESTED AMOUNT REDUCTIONS $0.00
-----
REIMBURSED
</TABLE>
AT&T UNIVERSAL CARD SERVICES CORP.,
as Servicer
By: /s/ Evelyn Nagel
--------------------------------
Name: Evelyn Nagel
Title: Servicing Officer
9
<PAGE> 1
EXHIBIT 20.4
[COOPERS & LYBRAND L.L.P. LETTERHEAD]
March 29, 1996
AT&T Universal Card Services Corp.
7595 Baymeadows Way
Jacksonville, FL 32256
Bankers Trust Company
4 Albany Street
10th Floor
New York, NY 10006
Fitch Information Services, Inc.
1201 East 7th Street
Powell, Wyoming 82435
Moody's Investor Service
99 Church Street
New York, NY 10007
Attention: ABS Monitoring-4th Floor
Standard & Poor's Corporation
ABS Surveillance: Credit Cards
26 Broadway, 10th Floor
New York, NY 13004
Ladies and Gentlemen:
We have applied certain agreed-upon procedures, as discussed below, to
accounting records of the AT&T Universal Card Master Trust ("Trust") and the
Monthly Reports (Monthly Application of Funds Certificate, Form of Monthly
Payment Instructions and Notification to the Trustee, and Form of Monthly
Statement) relating to the Series 1995-1 through 1995-5 Asset Backed
Certificates issued by the Trust for the year ended December 31, 1995
("Period"), solely to assist you in the evaluation of certain financial
information provided in the Monthly Reports. It is understood that this report
is solely for your information and is not to be referred to or distributed for
any purpose to anyone who is not one of the above-named addressees. However,
this report is a matter of public record as a result of being included as an
exhibit to the annual report on Form 10-K prepared by AT&T Universal Funding
Corp. and filed with the Securities and Exchange Commission on behalf of the
Trust.
All capitalized terms herein have the respective meanings as defined in the
Pooling and Servicing Agreement dated as of August 1, 1995, between AT&T
Universal Funding Corp., AT&T Universal Card Services Corp. ("Servicer") and
Bankers Trust Company ("Trustee"), and the
<PAGE> 2
March 29, 1996
Page 2
related Series 1995-1 through 1995-5 Supplements, collectively the "Agreement."
Italicized items are section, line or column titles within the indicated
reports. For purposes of this letter, we have performed the following
agreed-upon procedures:
1. Total Systems Services, Inc. ("TSYS") is the third-party processor of
receivables for the Servicer. We obtained and read the "Report on
Policies and Procedures Placed in Operations and Tests of Operating
Effectiveness for the Total System," prepared by KPMG Peat Marwick
LLP and dated October 5, 1995. This report stated that the TSYS
policies and procedures tested, which are defined in the report, "...
were operating with sufficient effectiveness to provide reasonable,
but not absolute, assurance that the control objectives specified ...
were achieved during the period from April 1, 1995 to September 30,
1995." A report covering the period October 1, 1995 through December
31, 1995 is not available.
2. In the course of this engagement, Coopers & Lybrand L.L.P. obtained
from the Servicer the following documents and data related to the
servicing of the Trust during the period August 1, 1995 to December
31, 1995:
- The Monthly Reports for Series 1995-1 through 1995-5, reporting
activity from the issuance of each Series through December 31,
1995.
- Screen prints from the TSYS system of various portfolio amounts
and activity for the six days selected in 4. below.
- The following Lotus spreadsheet reports, prepared by the
Servicer showing daily reconciliations of various amounts and
activity in the Trust portfolio. We obtained a written
representation from the Servicer that the information on these
reports is manually input from the information on the TSYS
screen prints or electronically calculated from the amounts
manually input.
i. Trust Pool Reconciliation ("Report 1")
ii. Principal, F/C, Interchange Activity ("Report 2")
iii. Principal Adjustments ("Report 3")
iv. Untitled monthly report which summarizes daily
collections, outstandings and charge-offs ("Report 4")
- The following Lotus spreadsheet reports prepared by the Servicer
which aggregate daily portfolio information for use in monthly
reporting. We obtained a written representation from the
Servicer that the information on these reports is manually input
from Reports 1-4, defined above, or from the Prospectus
Supplements for the Series, or is electronically calculated from
the amounts manually input:
i. Monthly Portfolio Setup and Input ("Report 5")
ii. Monthly Series Setup and Input ("Report 6")
- Schedules calculating the Servicing Fee Paid for each of the
months in the Period.
3. We performed the following procedures (all reports indicated below
are the December 1995 reports):
<PAGE> 3
March 29, 1996
Page 3
- Recalculated the Series 1995-1 Investor Interest Principal
Collections of $151,157,425.71 indicated by tickmark A in
Attachment I as the Investor Floating Allocation Percentage of
57.4525966% multiplied by the Series Allocations Principal
Collections of $263,099,380.32, all per the Series 1995-1
Servicer's Report. No exception was noted.
- Recalculated the Series Allocations Principal Collections of
$263,099,380.32 per the Series 1995-1 Servicer's Report as Trust
Totals Principal Collections of $923,306,703.84 per the Series
1995-1 Servicer's Report multiplied by the Series Allocation
Percentage for Series 1995-1 of 28.50% per Report 6. The Series
Allocation Percentage for Series 1995-1 of 28.50% per Report 6
is a rounded number from the actual percentage of 28.49534%.
This results in a difference of $43,030.27.
- Agreed Trust Totals Principal Collections of $923,306,703.84 per
the Series 1995-1 December Servicer's Report to the Month To
Date Totals in the Principal Collections column of
$923,306,703.84 in the section of Report 5 which is net of
Account Owner Retained Interest. No exception was noted.
- Recalculated the Month to Date Total of the Principal
Collections column of $923,306,703.84 as the sum of the daily
Principal Collections amounts, all in the section of Report 5
which is net of Account Owner Retained Interest. No exception
was noted.
- Recalculated the December 6 Principal Collections of
$46,742,322.40, included in the section of Report 5 titled
"Monthly Period Trust Portfolio Accounts Activity (Net of
Account Owner Retained Interest)" as the December 6 Principal
Collections of $46,875,729.46 in the section which is before
adjustment for Account Owner Retained Interest, multiplied by
the sum of 1 minus the Account Owner Retained Interest Factor
of 0.2846%, multiplied by the sum of 1 minus the Discount
Percentage of 0.00%, all per Report 5. No exception was noted.
- Agreed the December 6 Principal Collections of $46,875,729.46 in
the section of Report 5 before adjustment for Account Owner
Retained Interest to the total of the Principal Collections
section of $46,875,729.46 in Report 2 for December 6. No
exception was noted.
- Recalculated the December 6 amount Purchases less payment
reversals of $41,652,327.55 in the Principal Collections section
in Report 2 from the information in Report 1, as follows: the
sum of the December 6 Debits (payments) of $43,008,149.13 and
December 6 Payment Reversal of $32.61, both in the Purchases
section; less the December 7 Adjust by Prior Month's Overlimit
Fees of $23,805.00 and December 7 Adjust by Prior Month's NSF
Fees of $3,165.00, both in the Reclass/Adjustments section,
without exception.
- Agreed the December 6 Debits (payments) of $41,679,330.16 in
Report 1 to the December 6 Purchases Collections of
$41,679,330.16 in Report 4, without exception.
- Agreed the December 6 Purchases Collections of $41,679,330.16 in
Report 4 to the Purchases of $41,679,330.16 in the Payment
Allocation section of the Agent Bank Summary report (part of the
TSYS screen prints) for Agent Bank 6901, without exception.
<PAGE> 4
March 29, 1996
Page 4
4. We also performed the following procedures:
- We selected six days during the Period (October 11, October 26,
November 13, November 28, December 12, and December 27), and
agreed the amounts on the TSYS screen prints for the selected
days to the following line items on Report 1 for the appropriate
month and day:
i. In the Purchases section of the report, New Purchases
ii. In the Cash Advance section of the report, Debits (Payments)
iii. In the Purchase F/C section of the report, Payments
iv. In the Charge-offs section of the report, Total
- For the six days selected above, we agreed the Payment
Allocation amount Purchases on the TSYS screen print for the
selected days to the New Purchases amount on Report 3.
- For November 13 and December 27, we agreed the following
information on Report 2 to the information on Report 1:
i. In the Finance Charge Collections section, Purchase F/C
less payment reversal agreed to the Purchase F/C section
Payments amount;
ii. In the Principal Collections section, Purchases less
payment reversal agreed to the Purchases section,
Debits/(payments) less the sum of Additional Payments - NSF
Fee and Additional Payments - Overlimit Fees, both in the
Reclasses from purchasing section;
- For November 13 and December 27, we agreed the following amounts
on Report 2 to amounts on Report 3:
i. In the New Principal Receivables section, Purchases plus
Credit Adjustments agreed to the Purchases section, New
Purchases;
ii. In the Principal Charge-Offs section, Cash Advances agreed
to the Cash Advance section, Charge-Offs.
5. For the following items in the December 1995 Report 5, we agreed the
Monthly Totals line in the Monthly Period Trust Portfolio Accounts
Activity section to the MTD column on the December 1995 Report 2 for
the following columns, all without exception:
- Finance Charge Collections of $74,385,018.81
- Interchange Collections of $14,754,451.29
- Principal Collections of $925,941,909.54
- Principal Charge-off Amount of $29,808,614.63
6. We recalculated the Series Allocation Percentage for each series on
the November Report 6 as each individual Series Invested Amount
divided by the Trust column Series Invested Amount of $2,675,000,000,
without exception.
7. We agreed the amounts noted by tickmark B on Attachment I to the
December Report 5 Monthly Totals line in the section Monthly Period
Trust Portfolio Accounts Activity in the section which is net of
Account Owner Retained Interest, without exception.
<PAGE> 5
March 29, 1996
Page 5
8. We agreed the amounts noted by tickmark C on Attachment I to the
November Report 6 Series Allocation Percent in the appropriate Series
column, without exception.
9. We recalculated the percentage noted by tickmark D on Attachment I as
the sum of: Trust Totals Finance Charges Collections of
$99,401,010.50, Trust Totals Discount Option Receivable Collections
of $0.00 and Trust Totals Recoveries $2,825,899.61, less Trust Totals
Defaults of $29,263,255.26, divided by Trust Totals Beginning
Principal Receivables Balance of $6,122,823,366.22, all on Attachment
I, multiplied by 12, without exception.
10. We recalculated the percentage noted by tickmark E on Attachment I as
Trust Totals Principal Collections of $1,975,147,912.97 divided by
the Trust Totals Beginning Principal Receivables Balance of
$6,030,037,436.00, all on Attachment I, divided by 2, without
exception.
11. We recalculated the percentages noted by tickmark F on Attachment I
as Trust Totals Defaults of $29,723,780.12 divided by Trust Totals
Beginning Principal Receivables Balance of $6,108,245,754.30, all on
Attachment I, multiplied by 12, without exception.
12. We recalculated the percentage noted by tickmark G on Attachment I as
Investor Interest Reallocated Investor Finance Charge Collections of
$11,721,362.64 plus Interest and Principal Funding Investment
Proceeds for the Investor Interest of $0.00 less the Investor
Interest Investor Default Amount Due of $3,748,223.04, divided by the
Investor Interest Beginning Invested/Transferor Amount of
$750,000,000.00, all on Attachment I, multiplied by 12, without
exception.
13. We recalculated the percentage indicated by tickmark H on Attachment
I as Investor Interest Investor Monthly Interest Due (in the Monthly
Funding Requirements section) of $2,248,640.66, divided by the
Investor Interest Beginning Invested/Transferor Amount of
$500,000,000.00, both on Attachment I, multiplied by 360, divided by
the Days in Interest Period of 27 days for Series 1995-5 on Report 6
plus the Investor/Interest Investor Monthly Fees Due (in the Monthly
Funding Requirements section) of $305,555.56, divided by the Investor
Interest Beginning Invested/Transferor Amount of $500,000,000.00,
both on Attachment I, multiplied by 360, divided by the Days in
Servicing Period of 11 days for Series 1995-5 on Report 6, without
exception.
14. We recalculated the Servicing Fee Paid of $666,666.67 for Series
1995-3 for November, indicated by tickmark I on Attachment I, as the
total combined servicing fee for Series 1995-2 and 1995-3 of
$1,333,333.33 per a schedule prepared by the Servicer, divided by 2,
without exception.
<PAGE> 6
March 29, 1996
Page 6
15. We obtained a written representation from the Servicer that no
expenses related to the Trust have been paid from the Trust's funds,
as required by Section 3.01 (e) of the Agreement.
16. We obtained a written representation from the Servicer that Daily
Records were available for inspection by the Trustee as required by
Section 3.04 (a) of the Agreement.
17. We obtained a written representation from the Servicer that all
Monthly Reports were filed within the requirements of Section 3.04
(b) of the Agreement.
18. We obtained a written representation from the Servicer that the
Annual Certificates of Servicer for Series 1995-1, 1995-2 and 1995-3
were filed within the requirements of Section 3.05 of the Agreement.
We also obtained a written representation from the Servicer that such
Annual Certificates were not required for Series 1995-4 and 1995-5.
19. We obtained a written representation from the Servicer that
adjustments to receivables and dishonored checks were accounted for
in accordance with Section 3.09 (a) and (b).
20. We obtained a written representation from the Servicer that all
reports required to be filed with the Securities and Exchange
Commission were filed timely as required by Section 3.10.
21. We obtained from the Servicer the bank account statements prepared by
the Trustee for the month ended December 31, 1995 for the Collection
Account and the Special Funding Account maintained at the Trustee and
noted, based on the account name, that the account did not bear a
designation clearly indicating that funds deposited therein are held
for the benefit of the Certificate holders. However, an employee of
the Trustee orally confirmed that the Trustee's records designate the
aforementioned accounts for the benefit of the Certificateholders.
22. We obtained from the Servicer the bank account statements prepared by
the Trustee for the months September through December 1995 for the
Collection Account and the Special Funding Account which reports
investment activity in these accounts. All such investments were in
commercial paper of AT&T or American Express. We obtained a written
representation from the Servicer that these investments are Eligible
Investments, as defined by the Agreement.
23. We obtained from the Servicer press releases of Standard and Poor's
and Moody's, indicating that as of September 20, 1995, AT&T's
commercial paper rating was rated A-1 by Standard and Poors and P-1
by Moody's. We obtained a written representation from the Servicer
that there were no changes in the commercial paper rating of AT&T
during the Period. We reviewed the October and December statements
of the Collection
<PAGE> 7
March 29, 1996
Page 7
Account, noting that the deposits amounts required on October 16 of
$7,804.088.89 for Series 1 and December 15 of $4,178,917.19 for
Series 3 and indicated by tickmark J on Attachment I were made on
such dates.
24. We obtained a written representation from the Servicer that
requirements (i), (ii), and (iii) of Section 4.06 of the Agreement
were met during the Period.
25. We obtained a written representation from the Servicer that no
receivables were sold or transferred to a third party during the
Period.
Certain amounts, numbers, percentages and ratios referred to above have been
rounded or truncated by the Servicer. In all instances where we noted
agreement of amounts, numbers, percentages and ratios, such agreement is after
giving consideration to the effect of such rounding or truncation.
Because the above procedures do not constitute an audit conducted in accordance
with generally accepted auditing standards, we do not express an opinion on any
of the accounts or items referred to above. In connection with the procedures
referred to above, no matters came to our attention that caused us to believe
the Monthly Reports might require adjustment. Had we performed additional
procedures or had we conducted an audit of the Trust in accordance with
generally accepted auditing standards, matters might have come to our attention
that would have been reported to you. This report relates only to the accounts
and items specified above and does not extend to any financial statements of
the Trust or Servicer taken as a whole.
/s/ COOPERS & LYBRAND LLP
-------------------------
<PAGE> 8
ATTACHMENT I
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-1
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
Interest
<S> <C> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Beginning Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Floating Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 57.4525966%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 57.4525966%
Finance Charge Collections 12,660,039.08 873,106.14 1,018,623.83 14,551,769.06
Trust Portfolio Yield
Principal Collections 131,506,960.37 9,069,445.54 10,581,019.80 151,157,425.71 A
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,233,570.45 291,970.38 340,632.10 4,866,172.93
Monthly Default Rate
Recoveries 326,750.54 22,534.52 26,290.27 375,575.33
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 (0.00)
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Report 31-Dec-95
Distribution Date 17-Jan-96
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
- ---------------------- Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 6,108,245,754.30
Special Funding Account Balance 0.00
Beginning Total Principal Balance 6,108,245,754.30
Series Allocation Percentage 28.50%
Beginning Invested /Transferor Amount 740,565,368.07 1,740,565,368.07
Floating Allocation Percentage 42.5474034% 100.0000000%
Principal Allocation Percentage 42.5474034% 100.0000000%
Finance Charge Collections 10,776,536.21 25,328,305.27 88,885,781.57
Trust Portfolio Yield 12.07%
Principal Collections 111,941,954.61 263,099,380.32 923,306,703.84
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 15.12%
Defaults 3,603,719.14 8,469,892.07 29,723,780.12
Monthly Default Rate 5.84%
Recoveries 278,138.08 653,713.41 2,294,106.40
Adjustments (5,387,030.88)
New Receivables 1,137,732,251.42
Ending Principal Receivables Balance 6,298,334,552.65
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,298,334,552.65
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 794,731,816.60 1,794,731,816.60 6,298,334,552.65
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Group I Information Series 1995-1 Series 1995-3 Series Series Group Total
- -------------------
<S> <C> <C> <C> <C> <C>
Invested Amount 1,000,000,000.00 750,000,000.00 0.00 0.00 1,750,000,000.00
Average Rate 5.9820% 6.0872% 0.0000% 0.0000% 6.0271%
Investor Finance Charge Collections 14,927,344.39 11,195,508.29 0.00 0.00 26,122,852.68
Investor Principal Collections 151,157,425.71 113,368,069.28 0.00 0.00 264,525,495.00
Investor Default Amount Due 4,866,172.93 3,649,629.69 0.00 0.00 8,515,802.62
Investor Monthly Interest Due 4,984,979.17 3,804,484.38 0.00 0.00 8,789,463.54
Investor Monthly Fees Due 1,666,666.67 1,250,000.00 0.00 0.00 2,916,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
<S> <C> <C> <C> <C>
Investor Coupon 5.9550% 6.0750% 6.2375%
Investor Monthly Interest Due 4,317,375.00 303,750.00 363,854.17 4,984,979.17
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
Investor Total Interest Due 4,317,375.00 303,750.00 363,854.17 4,984,979.17
Investor Default Amount Due 4,233,570.45 291,970.38 340,632.10 4,866,172.93
Investor Monthly Fees Due 1,450,000.00 100,000.00 116,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
Total Due 10,000,945.45 695,720.38 821,152.94 11,517,818.76
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
Reallocated Investor Finance Charge Collections 14,889,772.96
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 12.03%
Base Rate 7.98%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Application of Collections Class A Class B IA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 12,954,102.47 893,386.38 1,042,284.11 14,889,772.96
Monthly Interest Paid 4,317,375.00 303,750.00 0.00 4,621,125.00
Investor Default Amount Paid 4,233,570.45 0.00 0.00 4,233,570.45
Excess Spread 4,403,157.03 589,636.38 1,042,284.11 6,035,077.51
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 291,970.38 291,970.38
Required Amount 0.00 291,970.38 291,970.38
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 363,854.17 363,854.17
Investor Default Paid 0.00 291,970.38 340,632.10 632,602.48
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 3,371,954.20
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 (0.00)
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Certificates Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Beginning Certificates Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 0.00 0.00 363,854.17 363,854.17
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 363,854.17 363,854.17
Ending Certificate Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 0.0000 0.0000 5.1979
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 5.1979
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 4,461,287.50 313,875.00 4,775,162.50
2nd Collection Accounts Deposit 4,317,375.00 303,750.00 4,621,125.00
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 8,778,662.50 617,625.00 9,396,287.50
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 212,341 37,151 17,190 12,357 17,846 296,885
Balance of Accounts 475,818,424 71,038,922 50,016,733 38,095,149 57,696,282 692,665,510.05
Change in Account Owner
Retained Interest 0.0163%
</TABLE>
<PAGE> 9
ATTACHMENT 1 - PAGE 2
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-4
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 465,000,000.00 0.00 35,000,000.00 500,000,000.00
Floating Allocation Percentage 93.0000000% 0.0000000% 7.0000000% 57.4525966%
Principal Allocation Percentage 93.0000000% 0.0000000% 7.0000000% 57.4525966%
Finance Charge Collections 6,766,572.61 0.00 509,311.92 7,275,884.53
Trust Portfolio Yield
Principal Collections 70,288,202.96 0.00 5,290,509.90 75,578,712.86
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 2,262,770.41 0.00 170,316.05 2,433,086.46
Monthly Default Rate
Recoveries 174,642.53 0.00 13,145.14 187,787.66
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 (0.00)
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 465,000,000.00 0.00 35,000,000.00 500,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Report 31-Dec-95
Distribution Date 17-Jan-96
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
Interest Allocations Totals
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance 6,108,245,754.30
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,108,245,754.30
Series Allocation Percentage 14.25%
Beginning Invested /Transferor Amount 370,282,684.04 870,282,684.04
Floating Allocation Percentage 42.5474034% 100.0000000%
Principal Allocation Percentage 42.5474034% 100.0000000%
Finance Charge Collections 5,388,268.10 12,664,152.63 88,885,781.57
Trust Portfolio Yield 12.07%
Principal Collections 55,970,977.30 131,549,690.16 923,306,703.84 B
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 15.12%
Defaults 1,801,859.57 4,234,946.04 29,723,780.12 B
Monthly Default Rate 5.84% F
Recoveries 139,069.04 326,856.70 2,294,106.40
Adjustments (5,387,030.88)
New Receivables 1,137,732,251.42 B
Ending Principal Receivables Balance 6,298,334,552.65
Minimum Series Required Balance 535,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,298,334,552.65
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 370,282,684.04 870,282,684.04 6,298,334,552.65
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Group III Information Series 1995-4 Series Series Series Group Total
- ---------------------
<S> <C> <C> <C> <C> <C>
Invested Amount 500,000,000.00 0.00 0.00 0.00 500,000,000.00
Average Rate 5.9036% 0.0000% 0.0000% 0.0000% 5.9036%
Investor Finance Charge Collections 7,463,672.19 0.00 0.00 0.00 7,463,672.19
Investor Principal Collections 75,578,712.86 0.00 0.00 0.00 75,578,712.86
Investor Default Amount Due 2,433,086.46 0.00 0.00 0.00 2,433,086.46
Investor Monthly Interest Due 2,213,866.09 0.00 0.00 0.00 2,213,866.09
Investor Monthly Fees Due 305,555.56 0.00 0.00 0.00 305,555.56
Investor Additional Amounts Due 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
<S> <C> <C> <C> <C>
Investor Coupon 5.8791% 0.0000% 6.2297%
Investor Monthly Interest Due 2,050,336.73 0.00 163,529.36 2,213,866.09
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Investor Total Interest Due 2,050,336.73 0.00 163,529.36 2,213,866.09
Investor Default Amount Due 2,262,770.41 0.00 170,316.05 2,433,086.46
Investor Monthly Fees Due 284,166.67 0.00 21,388.89 305,555.56
Investor Additional Fees Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Total 4,597,273.81 0.00 355,234.30 4,952,508.11
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
Reallocated Investor Finance Charge Collections 7,463,672.19
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 12.07%
Base Rate 7.90%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 6,941,215.14 0.00 522,457.05 7,463,672.19
Monthly Interest Paid 2,050,336.73 0.00 0.00 2,050,336.73
Investor Default Amount Paid 2,262,770.41 0.00 0.00 2,262,770.41
Excess Spread 2,628,108.00 0.00 522,457.05 3,150,565.05
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 0.00 0.00
Required Amount 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 163,529.36 163,529.36
Investor Default Paid 0.00 0.00 170,316.05 170,316.05
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 305,555.56
Excess Finance Charge Collections 2,511,164.08
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Outstanding Montly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 (0.00)
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 465,000,000.00 0.00 35,000,000.00 500,000,000.00
Interest Distribution 2,050,336.73 0.00 163,529.36 2,213,866.09
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 2,050,336.73 0.00 163,529.36 2,213,866.09
Ending Certificate Balance 465,000,000.00 0.00 35,000,000.00 500,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 4.4093 0.0000 4.6723
- ------------------------------------------------------------------------------------------------------------------------------------
Interest Distribution Per 1,000 Certificate 4.4093 0.0000 4.6723
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 212,341 37,151 17,190 12,357 17,846 296,885
Balance of Accounts 475,818,424 71,038,922 50,016,733 38,095,149 57,696,282 692,665,510.05
</TABLE>
<PAGE> 10
ATTACHMENT 1 - PAGE 3
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-5
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
- ---------------------- Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 455,000,000.00 0.00 45,000,000.00 500,000,000.00
Floating Allocation Percentage 91.0000000% 0.0000000% 9.0000000% 56.3984205%
Principal Allocation Percentage 91.0000000% 0.0000000% 9.0000000% 56.3984205%
Finance Charge Collections 6,621,054.92 0.00 654,829.61 7,275,884.53
Trust Portfolio Yield
Principal Collections 68,776,628.70 0.00 6,802,084.16 75,578,712.86
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 2,214,108.68 0.00 218,977.78 2,433,086.46
Monthly Default Rate
Recoveries 170,886.77 0.00 16,900.89 187,787.66
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 (0.00)
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 455,000,000.00 0.00 45,000,000.00 500,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Report 31-Dec-95
Distribution Date 17-Jan-96
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
Interest Allocations Totals
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance 6,108,245,754.30
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,108,245,754.30
Series Allocation Percentage 14.51%
Beginning Invested /Transferor Amount 386,549,650.09 886,549,650.09
Floating Allocation Percentage 43.6015795% 100.0000000%
Principal Allocation Percentage 43.6015795% 100.0000000%
Finance Charge Collections 5,624,981.24 12,900,865.77 88,885,781.57
Trust Portfolio Yield 12.07%
Principal Collections 58,429,850.02 134,008,562.87 923,306,703.84 B
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 15.12%
Defaults 1,881,017.44 4,314,103.91 29,723,780.12 B
Monthly Default Rate 5.84%
Recoveries 145,178.51 332,966.18 2,294,106.40
Adjustments (5,387,030.88)
New Receivables 1,137,732,251.42 B
Ending Principal Receivables Balance 6,298,334,552.65
Minimum Series Required Balance 545,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,298,334,552.65
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 386,549,650.09 886,549,650.09 6,298,334,552.65
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Group IV Information Series 1995-5 Series Series Series Group Total
- --------------------
<S> <C> <C> <C> <C> <C>
Invested Amount 500,000,000.00 0.00 0.00 0.00 500,000,000.00
Average Rate 5.9964% 0.0000% 0.0000% 0.0000% 5.9964%
Investor Finance Charge Collections 7,463,672.19 0.00 0.00 0.00 7,463,672.19
Investor Principal Collections 75,578,712.86 0.00 0.00 0.00 75,578,712.86
Investor Default Amount Due 2,433,086.46 0.00 0.00 0.00 2,433,086.46
Investor Monthly Interest Due 2,248,640.66 0.00 0.00 0.00 2,248,640.66
Investor Monthly Fees Due 305,555.56 0.00 0.00 0.00 305,555.56
Investor Additional Amounts Due 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
<S> <C> <C> <C> <C>
Investor Coupon 5.9733% 0.0000% 6.2297%
Investor Monthly Interest Due 2,038,388.63 0.00 210,252.04 2,248,640.66
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Investor Total Interest Due 2,038,388.63 0.00 210,252.04 2,248,640.66
Investor Default Amount Due 2,214,108.68 0.00 218,977.78 2,433,086.46
Investor Monthly Fees Due 278,055.56 0.00 27,500.00 305,555.56
Investor Additional Fees Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Total 4,530,552.86 0.00 456,729.82 4,987,282.68
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C>
Reallocated Investor Finance Charge Collections 7,463,672.19
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 12.07%
Base Rate 8.00% H
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 6,791,941.70 0.00 671,730.50 7,463,672.19
Monthly Interest Paid 2,038,388.63 0.00 0.00 2,038,388.63
Investor Default Amount Paid 2,214,108.68 0.00 0.00 2,214,108.68
Excess Spread 2,539,444.39 0.00 671,730.50 3,211,174.89
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 0.00 0.00
Required Amount 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 210,252.04 210,252.04
Investor Default Paid 0.00 0.00 218,977.78 218,977.78
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 305,555.56
Excess Finance Charge Collections 2,476,389.51
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Outstanding Montly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 (0.00)
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 455,000,000.00 0.00 45,000,000.00 500,000,000.00
Interest Distribution 2,038,388.63 0.00 210,252.04 2,248,640.66
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 2,038,388.63 0.00 210,252.04 2,248,640.66
Ending Certificate Balance 455,000,000.00 0.00 45,000,000.00 500,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 4.4800 0.0000 4.6723
- ------------------------------------------------------------------------------------------------------------------------------------
Interest Distribution Per 1,000 Certificate 4.4800 0.0000 4.6723
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 212,341 37,151 17,190 12,357 17,846 296,885
Balance of Accounts 475,818,424 71,038,922 50,016,733 38,095,149 57,696,282 692,665,510.05
</TABLE>
<PAGE> 11
ATTACHMENT 1 - PAGE 4
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-2
Monthly Trust Activity Class A Class B CIA Investor Investor
Interest
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Floating Allocation Percentage 90.0000000% 4.7500000% 5.2500000% 41.0714232%
Principal Allocation Percentage 90.0000000% 4.7500000% 5.2500000% 41.0714232%
Finance Charge Collections 10,320,251.90 544,679.96 602,014.69 11,466,946.56
Trust Portfolio Yield
Principal Collections 105,698,085.34 5,578,510.06 6,165,721.65 117,442,317.05
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 3,373,400.74 178,040.59 196,781.71 3,748,223.04
Monthly Default Rate
Recoveries 363,781.09 19,199.56 21,220.56 404,201.21
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation Monthly Report 30-Nov-95
Credit Card Asset Backed Securities Distribution Date 18-Dec-95
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
Interest Allocations Totals
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance 6,086,957,320.77
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,086,957,320.77
Series Allocation Percentage 30.00% C
Beginning Invested /Transferor Amount 1,076,087,196.23 1,826,087,196.23
Floating Allocation Percentage 58.9285768% 100.0000000%
Principal Allocation Percentage 58.9285768% 100.0000000%
Finance Charge Collections 16,452,579.16 27,919,525.72 93,065,085.72
Trust Portfolio Yield 13.00%
Principal Collections 168,504,231.56 285,946,548.61 953,155,162.04
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 15.66%
Defaults 5,377,886.43 9,126,109.47 30,420,364.89
Monthly Default Rate 6.00%
Recoveries 579,940.99 984,142.20 3,280,473.99
Adjustments 2,674,610.44
New Receivables 1,008,539,086.51
Ending Principal Receivables Balance 6,109,246,269.92
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,109,246,269.92
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 1,076,087,196.23 1,826,087,196.23 6,109,246,269.92
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Group II Information Series 1995-2 Series Series Series Group Total
- --------------------
<S> <C> <C> <C> <C> <C>
Invested Amount 750,000,000.00 0.00 0.00 0.00 750,000,000.00
Average Rate 5.9683% 0.0000% 0.0000% 0.0000% 5.9683%
Investor Finance Charge Collections 11,871,147.76 0.00 0.00 0.00 11,871,147.76
Investor Principal Collections 117,442,317.05 0.00 0.00 0.00 117,442,317.05
Investor Default Amount Due 3,748,223.04 0.00 0.00 0.00 3,748,223.04
Investor Monthly Interest Due 3,985,594.40 0.00 0.00 0.00 3,985,594.40
Investor Monthly Fees Due 666,666.67 0.00 0.00 0.00 666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
- ----------------------------
<S> <C> <C> <C> <C>
Investor Coupon 5.9500% 6.1000% 6.1625%
Investor Monthly Interest Due 3,570,000.00 193,166.67 222,427.73 3,985,594.40
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Investor Total Interest Due 3,570,000.00 193,166.67 222,427.73 3,985,594.40
Investor Default Amount Due 3,373,400.74 178,040.59 196,781.71 3,748,223.04
Investor Monthly Fees Due 600,000.00 31,666.67 35,000.00 666,666.67
Investor Additional Fees Due 0.00 0.00 0.00 0.00
---- ---- ---- ----
Total 7,543,400.74 402,873.93 454,209.44 8,400,484.11
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 11,871,147.76
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 13.00%
Base Rate 7.44%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
- --------------------------
<S> <C> <C> <C> <C>
Available Funds 10,684,032.99 563,879.52 623,235.26 11,871,147.76
Monthly Interest Paid 3,570,000.00 193,166.67 0.00 3,763,166.67
Investor Default Amount Paid 3,373,400.74 0.00 0.00 3,373,400.74
Excess Spread 3,740,632.25 370,712.85 623,235.26 4,734,580.36
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 178,040.59 178,040.59
Required Amount 0.00 178,040.59 178,040.59
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 222,427.73 222,427.73
Investor Default Paid 0.00 178,040.59 196,781.71 374,822.30
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 666,666.67
Excess Finance Charge Collections 3,470,663.66
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Outstanding Montly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Funding
- -----------------
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Certificates Class A Class B CIA Investor Total
- ------------
<S> <C> <C> <C> <C>
Beginning Certificates Balance 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Interest Distribution 3,570,000.00 193,166.67 222,427.73 3,985,594.40
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 3,570,000.00 193,166.67 222,427.73 3,985,594.40
Ending Certificate Balance 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 5.2889 5.4222 5.6490
- ------------------------------------------------------------------------------------------------------------------------------------
Interest Distribution Per 1,000 Certificate 5.2889 5.4222 5.6490
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
- ------------- ---- ----- ----- ------ ---- -----
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 158,139 30,514 15,366 11,244 16,414 231,677
Balance of Accounts 351,254,958.79 78,426,099.42 45,323,019.03 35,085,817.77 52,445,164.17 562,535,059.18
</TABLE>
<PAGE> 12
ATTACHMENT 1 - PAGE 5
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Nov-95
Credit Card Asset Backed Securities Series 1995-3 Distribution Date 18-Dec-95
- ----------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 652,500,000.00 45,000,000.00 52,500,000.00 750,000,000.00
Floating Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 41.0714232%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 41.0714232%
Finance Charge Collections 9,976,243.50 688,016.79 802,686.26 11,466,946.56
Trust Portfolio Yield
Principal Collections 102,174,815.83 7,046,539.02 8,220,962.19 117,442,317.05
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 3,260,954.04 224,893.38 262,375.61 3,748,223.04
Monthly Default Rate
Recoveries 351,655.05 24,252.07 28,294.08 404,201.21
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 652,500,000.00 45,000,000.00 52,500,000.00 750,000,000.00
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------------------
Group I Information Series 1995-1 Series 1995-3 Series Series
<S> <C> <C> <C> <C>
Invested Amount 1,000,000,000.00 750,000,000.00 0.00 0.00
Average Rate 5.9732% 6.0784% 0.0000% 0.0000%
Investor Finance Charge Collections 15,828,197.02 11,871,147.76 0.00 0.00
Investor Principal Collections 156,589,756.07 117,442,317.05 0.00 0.00
Investor Default Amount Due 4,997,630.72 3,748,223.04 0.00 0.00
Investor Monthly Interest Due 5,143,610.42 4,178,917.19 0.00 0.00
Investor Monthly Fees Due 1,666,666.67 666,666.67 0.00 0.00
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
- --------------------------------------------------------------------------------------------------------------------------
</TABLE>
ATTACHMENT 1 - PAGE 5
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust Monthly Report 30-Nov-95
Credit Card Asset Backed Securities Series 1995-3 Distribution Date 18-Dec-95
- ------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 6,086,957,320.77
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,086,957,320.77
Series Allocation Percentage 30.00% C
Beginning Invested /Transferor Amount 1,076,087,196.23 1,826,087,196.23
Floating Allocation Percentage 58.9285768% 100.0000000%
Principal Allocation Percentage 58.9285768% 100.0000000%
Finance Charge Collections 16,452,579.16 27,919,525.72 93,065,085.72
Trust Portfolio Yield 13.00%
Principal Collections 168,504,231.56 285,946,548.61 953,155,162.04
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 15.66%
Defaults 5,377,886.43 9,126,109.47 30,420,364.89
Monthly Default Rate 6.00%
Recoveries 579,940.99 984,142.20 3,280,473.99
Adjustments 2,674,610.44
New Receivables 1,008,539,086.51
Ending Principal Receivables Balance 6,109,246,269.92
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,109,246,269.92
- --------------------------------------------------------------------------------------------------------------------------
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 1,076,087,196.23 1,826,087,196.23 6,109,246,269.92
- --------------------------------------------------------------------------------------------------------------------------
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------
Group I Information Group Total
<S> <C>
Invested Amount 1,750,000,000.00
Average Rate 6.0183%
Investor Finance Charge Collections 27,699,344.78
Investor Principal Collections 274,032,073.12
Investor Default Amount Due 8,745,853.76
Investor Monthly Interest Due 9,322,527.60
Investor Monthly Fees Due 2,333,333.33
Investor Additional Amounts Due 0.00
</TABLE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Funding Requirements Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Investor Coupon 6.0650% 6.1750% 6.1625%
Investor Monthly Interest Due 3,627,628.13 254,718.75 296,570.31 4,178,917.19
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
Investor Total Interest Due 3,627,628.13 254,718.75 296,570.31 4,178,917.19 J
Investor Default Amount Due 3,260,954.04 224,893.38 262,375.61 3,748,223.04
Investor Monthly Fees Due 580,000.00 40,000.00 46,666.67 666,666.67
Investor Additional Fees Due 0.00 0.00 0.00 0.00
Total 7,468,582.17 519,612.13 605,612.59 8,593,806.89
- ------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge
Collections 11,721,362.64
Interest and Principal Funding
Investment Proceeds 0.00
Series Adjusted Portfolio Yield 12.76% G
Base Rate 7.75%
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------
Application of Collections Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Available Funds 10,197,585.50 703,281.76 820,495.39 11,721,362.64
Monthly Interest Paid 3,627,628.13 254,718.75 0.00 3,882,346.88
Investor Default Amount Paid 3,260,954.04 0.00 0.00 3,260,954.04
Excess Spread 3,309,003.33 448,563.01 820,495.39 4,578,061.73
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 224,893.38 224,893.38
Required Amount 0.00 224,893.38 224,893.38
- ------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 296,570.31 296,570.31
Investor Default Paid 0.00 224,893.38 262,375.61 487,269.00
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 666,666.67 I
Excess Finance Charge Collections 3,127,555.75
- ------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
Outstanding Montly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------
Principal Funding
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Certificates Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Beginning Certificates Balance 652,500,000.00 45,000,000.00 52,500,000.00 750,000,000.00
Interest Distribution 0.00 0.00 296,570.31 296,570.31
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 296,570.31 296,570.31
Ending Certificate Balance 652,500,000.00 45,000,000.00 52,500,000.00 750,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 0.0000 0.0000 5.6490
Interest Distribution Per 1,000 Certificate 0.0000 0.0000 4.2367
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 0.00 0.00 0.00
2nd Collection Accounts Deposit 3,627,628.13 254,718.75 3,882,346.88
3rd Collection Accounts Deposit 0.00 0.00 0.00
Quarterly Interest Distribution 3,627,628.13 254,718.75 3,882,346.88
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90
- ------------- ----- ----- -----
<S> <C> <C> <C>
Number of Accounts 158,139 30,514 15,366
Balance of Accounts 351,254,958.79 78,426,099.42 45,323,019.03
<CAPTION>
Delinquencies 91-120 120+ Total
- ------------- ------ ---- -----
<S> <C> <C> <C>
Number of Accounts 11,244 16,414 231,677
Balance of Accounts 35,085,817.77 52,445,164.17 562,535,059.18
</TABLE>
<PAGE> 13
ATTACHMENT 1 - PAGE 6
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-1
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Beginning Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Floating Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 16.3323346%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 16.3323346%
Finance Charge Collections 14,124,019.91 974,070.34 1,136,415.40 16,234,505.65
Trust Portfolio Yield
Principal Collections 152,309,119.80 10,504,077.23 12,254,756.77 175,067,953.79
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 4,158,050.05 286,762.07 334,555.75 4,779,367.87
Monthly Default Rate
Recoveries 401,535.78 27,692.12 32,307.48 461,535.38
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Report 31-Oct-95
Distribution Date 17-Nov-95
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 6,122,823,366.22
Special Funding Account Balance 0.00
Beginning Total Principal Balance 6,122,823,366.22
Series Allocation Percentage 100.00%
Beginning Invested /Transferor Amount 5,122,823,366.22 6,122,823,366.22
Floating Allocation Percentage 83.6676654% 100.0000000%
Principal Allocation Percentage 83.6676654% 100.0000000%
Finance Charge Collections 83,166,504.86 99,401,010.50 99,401,010.50 *
Trust Portfolio Yield 14.30% D
Principal Collections 896,842,204.34 1,071,910,158.13 1,071,910,158.13 *
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 17.51%
Defaults 24,483,857.39 29,263,225.26 29,263,225.26
Monthly Default Rate 5.74%
Recoveries 2,364,364.23 2,825,899.61 2,825,899.61
Adjustments (1,732,327.77)
New Receivables 1,059,384,335.68
Ending Principal Receivables Balance 6,082,766,646.27
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,082,766,646.27
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 5,082,766,646.27 6,082,766,646.27 6,082,766,646.27
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Group 1 Information Series 1995-1 Series 1995-2 Series 3 Series 4 Group Total
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Average Rate 5.9776% 0.0000% 0.0000% 0.0000% 5.9776%
Investor Finance Charge Collections 16,696,041.03 0.00 0.00 0.00 16,696,041.03
Investor Principal Collections 175,067,953.79 0.00 0.00 0.00 175,067,953.79
Investor Default Amount Due 4,779,367.87 0.00 0.00 0.00 4,779,367.87
Investor Monthly Interest Due 5,147,377.78 0.00 0.00 0.00 5,147,377.78
Investor Monthly Fees Due 1,666,666.67 0.00 0.00 0.00 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Investor Coupon 5.9550% 6.0750% 6.1750%
Investor Monthly Interest Due 4,461,287.50 313,875.00 372,215.28 5,147,377.78
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
Investor Total Interest Due 4,461,287.50 313,875.00 372,215.28 5,147,377.78
Investor Default Amount Due 4,158,050.05 286,762.07 334,555.75 4,779,367.87
Investor Monthly Fees Due 1,450,000.00 100,000.00 116,666.67 1,666,666.67
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
Total Due 10,069,337.55 700,637.07 823,437.70 11,593,412.31
- -----------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 16,696,041.03
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 14.30%
Base Rate 8.18%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Available Funds 14,525,555.69 1,001,762.46 1,168,722.87 16,696,041.03
Monthly Interest Paid 4,461,287.50 313,875.00 0.00 4,775,162.50
Investor Default Amount Paid 4,158,050.05 0.00 0.00 4,158,050.05
Excess Spread 5,906,218.15 687,887.46 1,168,722.87 7,762,828.48
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 286,762.07 286,762.07
Required Amount 0.00 286,762.07 286,762.07
- -----------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 372,215.28 372,215.28
Investor Default Paid 0.00 286,762.07 334,555.75 621,317.82
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,666,666.67
Excess Finance Charge Collections 5,102,628.71
- -----------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
Principal Funding
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Certificates Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Beginning Certificates Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 11,225,175.00 789,750.00 372,215.28 12,387,140.28
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 11,225,175.00 789,750.00 372,215.28 12,387,140.28
Ending Certificate Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 12.9025 13.1625 5.3174
Interest Distribution Per 1,000 Certificate 12.9025 13.1625 5.3174
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
1st Collection Account Deposit 6,763,887.50 475,875.00 7,239,762.50
2nd Collection Accounts Deposit 4,461,287.50 313,875.00 372,215.28 5,147,377.78
Quarterly Interest Distribution 11,225,175.00 789,750.00 372,215.28 12,387,140.28
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 147,704 29,884 14,563 10,893 15,228 218,272
Balance of Accounts 329,996,122.92 76,917,630.31 43,260,546.13 33,604,194.15 48,913,068.04 532,691,561.55
</TABLE>
* Principal Collections include initially posted miscellaneous fees, estimated
to be $13.3M.
Finance Charge Collections exclude initially posted miscellaneous fees,
estimated to be $13.3M.
<PAGE> 14
ATTACHMENT 1 - PAGE 7
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-1
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B Class C Investor
Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Beginning Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Floating Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 16.5836450%
Principal Allocation Percentage 87.0000000% 6.0000000% 7.0000000% 16.5836450%
Finance Charge Collections 26,020,422.55 1,794,511.90 2,093,597.22 29,908,531.67
Trust Portfolio Yield
Principal Collections 284,969,820.26 19,653,091.05 22,928,606.23 327,551,517.54
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 7,768,451.83 535,755.30 625,047.85 8,929,254.98
Monthly Default Rate
Recoveries 890,026.29 61,381.12 71,611.31 1,023,018.73
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Report 30-Sep-95
Distribution Date 17-Oct-95
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 6,030,037,436.00
Special Funding Account Balance 0.00
Beginning Total Principal Balance 6,030,037,436.00
Series Allocation Percentage 100.00%
Beginning Invested /Transferor Amount 5,030,037,436.00 6,030,037,436.00
Floating Allocation Percentage 83.4163550% 100.0000000%
Principal Allocation Percentage 83.4163550% 100.0000000%
Finance Charge Collections 150,441,033.93 180,349,565.60 180,349,565.60
Trust Portfolio Yield 13.20%
Principal Collections 1,647,596,395.43 1,975,147,912.97 1,975,147,912.97
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 16.38% E
Defaults 44,914,486.81 53,843,741.79 53,843,741.79
Monthly Default Rate 5.36%
Recoveries 5,145,822.49 6,168,841.22 6,168,841.22
Adjustments (54,110.14)
New Receivables 2,123,510,909.66
Ending Principal Receivables Balance 6,124,610,801.04
Minimum Series Required Balance 1,070,000,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,124,610,801.04
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 5,124,610,801.04 6,124,610,801.04 6,124,610,801.04
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Group 1 Information Series 1995-1 Series 1995-2 Series 3 Series 4 Group Total
<S> <C> <C> <C> <C> <C>
Average Rate 5.9776% 0.0000% 0.0000% 0.0000% 5.9776%
Investor Finance Charge Collections 30,931,550.39 0.00 0.00 0.00 30,931,550.39
Investor Principal Collections 327,551,517.54 0.00 0.00 0.00 327,551,517.54
Investor Default Amount Due 8,929,254.98 0.00 0.00 0.00 8,929,254.98
Investor Monthly Interest Due 7,804,088.89 0.00 0.00 0.00 7,804,088.89 J
Investor Monthly Fees Due 1,722,222.22 0.00 0.00 0.00 1,722,222.22
Investor Additional Amounts Due 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Funding Requirements Class A Class B Class C Total
<S> <C> <C> <C>
Investor Coupon 5.9550% 6.0750% 6.1750%
Investor Monthly Interest Due 6,763,887.50 475,875.00 564,326.39 7,804,088.89
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
Investor Total Interest Due 6,763,887.50 475,875.00 564,326.39 7,804,088.89
Investor Default Amount Due 7,768,451.83 535,755.30 625,047.85 8,929,254.98
Investor Monthly Fees Due 1,498,333.33 103,333.33 120,555.56 1,722,222.22
Investor Additional Amounts Due 0.00 0.00 0.00 0.00
Total Due 16,030,672.66 1,114,963.63 1,309,929.79 18,455,566.09
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 30,931,550.39
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 13.20%
Base Rate 7.98%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Application of Collections Class A Class B Class C Total
<S> <C> <C> <C> <C>
Available Funds 26,910,448.84 1,855,893.02 2,165,208.53 30,931,550.39
Monthly Interest Paid 6,763,887.50 475,875.00 0.00 7,239,762.50
Investor Default Amount Paid 7,768,451.83 0.00 0.00 7,768,451.83
Excess Spread 12,378,109.51 1,380,018.02 2,165,208.53 15,923,336.06
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 535,755.30 535,755.30
Required Amount 0.00 535,755.30 535,755.30
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 564,326.39 564,326.39
Investor Default Paid 0.00 535,755.30 625,047.85 1,160,803.15
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,498,333.33 103,333.33 120,555.56 1,722,222.22
Excess Finance Charge Collections 10,879,776.18 740,929.39 855,278.73 12,475,984.30
Reallocated Principal 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Outstanding Monthly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Funding
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Certificates Class A Class B Class C Total
<S> <C> <C> <C> <C>
Beginning Certificates Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Interest Distribution 0.00 0.00 564,326.39 564,326.39
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 0.00 0.00 564,326.39 564,326.39
Ending Certificate Balance 870,000,000.00 60,000,000.00 70,000,000.00 1,000,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
</TABLE>
<PAGE> 15
ATTACHMENT 1 - PAGE 8
<TABLE>
<CAPTION>
AT&T Universal Funding Corporation AT&T Universal Card Master Trust
Credit Card Asset Backed Securities Series 1995-2
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Class A Class B CIA Investor Investor
Interest
<S> <C> <C> <C> <C>
Beginning Principal Receivables Balance
Special Funding Account Balance
Ending Total Principal Balance
Series Allocation Percentage
Beginning Invested /Transferor Amount 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Floating Allocation Percentage 90.0000000% 4.7500000% 5.2500000% 57.4525966%
Principal Allocation Percentage 90.0000000% 4.7500000% 5.2500000% 57.4525966%
Finance Charge Collections 9,822,444.11 518,406.77 572,975.91 10,913,826.79
Trust Portfolio Yield
Principal Collections 102,031,262.36 5,384,983.29 5,951,823.64 113,368,069.28
Discount Percentage
Discount Option Receivable Collections 0.00 0.00 0.00 0.00
Monthly Payment Rate
Defaults 3,284,666.73 173,357.41 191,605.56 3,649,629.69
Monthly Default Rate
Recoveries 253,513.35 13,379.87 14,788.28 281,681.50
Adjustments
New Receivables
Ending Principal Receivables Balance
Minimum Series Required Balance
Special Funding Account Balance
Ending Total Principal Balance
Reallocated Principal 0.00 0.00
Charged-Off Principal 0.00 0.00 0.00
Reimbursed Principal 0.00 0.00 0.00
Ending Invested/Transferor Amounts 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Report 31-Dec-95
Distribution Date 17-Jan-96
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Trust Activity Transferor Series Trust
Interest Allocations Totals
<S> <C> <C> <C>
Beginning Principal Receivables Balance 6,108,245,754.30
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,108,245,754.30
Series Allocation Percentage 21.37%
Beginning Invested /Transferor Amount 555,424,026.05 1,305,424,026.05
Floating Allocation Percentage 42.5474034% 100.0000000%
Principal Allocation Percentage 42.5474034% 100.0000000%
Finance Charge Collections 8,082,402.16 18,996,228.95 88,885,781.57
Trust Portfolio Yield 12.07%
Principal Collections 83,956,465.96 197,324,535.24 923,306,703.84
Discount Percentage 0.00%
Discount Option Receivable Collections 0.00 0.00 0.00
Monthly Payment Rate 15.12%
Defaults 2,702,789.36 6,352,419.05 29,723,780.12
Monthly Default Rate 5.84% F
Recoveries 208,603.56 490,285.06 2,294,106.40
Adjustments (5,387,030.88)
New Receivables 1,137,732,251.42
Ending Principal Receivables Balance 6,298,334,552.65
Minimum Series Required Balance 802,500,000.00
Special Funding Account Balance 0.00
Ending Total Principal Balance 6,298,334,552.65
Reallocated Principal
Charged-Off Principal
Reimbursed Principal
Ending Invested/Transferor Amounts 555,424,026.05 1,305,424,026.05 6,298,334,552.65
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Group II Information Series 1995-2 Series Series Series Group Total
<S> <C> <C> <C> <C> <C>
Invested Amount 750,000,000.00 0.00 0.00 0.00 750,000,000.00
Average Rate 5.9748% 0.0000% 0.0000% 0.0000% 5.9748%
Investor Finance Charge Collections 11,195,508.29 0.00 0.00 0.00 11,195,508.29
Investor Principal Collections 113,368,069.28 0.00 0.00 0.00 113,368,069.28
Investor Default Amount Due 3,649,629.69 0.00 0.00 0.00 3,649,629.69
Investor Monthly Interest Due 3,734,277.34 0.00 0.00 0.00 3,734,277.34
Investor Monthly Fees Due 1,250,000.00 0.00 0.00 0.00 1,250,000.00
Investor Additional Amounts Due 0.00 0.00 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Monthly Funding Requirements Class A Class B CIA Investor Total
<S> <C> <C> <C>
Investor Coupon 5.9500% 6.1000% 6.2875%
Investor Monthly Interest Due 3,346,875.00 181,093.75 206,308.59 3,734,277.34
Investor Outstanding Interest Due 0.00 0.00 0.00 0.00
Investor Additional Interest Due 0.00 0.00 0.00 0.00
Investor Total Interest Due 3,346,875.00 181,093.75 206,308.59 3,734,277.34
Investor Default Amount Due 3,284,666.73 173,357.41 191,605.56 3,649,629.69
Investor Monthly Fees Due 1,125,000.00 59,375.00 65,625.00 1,250,000.00
Investor Additional Fees Due 0.00 0.00 0.00 0.00
Total 7,756,541.73 413,826.16 463,539.15 8,633,907.04
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Investor Finance Charge Collections 11,195,508.29
Interest and Principal Funding Investment Proceeds 0.00
Series Adjusted Portfolio Yield 12.07%
Base Rate 7.97%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Application of Collections Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Available Funds 10,075,957.46 531,786.64 587,764.19 11,195,508.29
Monthly Interest Paid 3,346,875.00 181,093.75 0.00 3,527,968.75
Investor Default Amount Paid 3,284,666.73 0.00 0.00 3,284,666.73
Excess Spread 3,444,415.74 350,692.89 587,764.19 4,382,872.81
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Shortfall 0.00 0.00 0.00
Investor Default Amount Shortfall 0.00 173,357.41 173,357.41
Required Amount 0.00 173,357.41 173,357.41
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Interest Paid 0.00 0.00 206,308.59 206,308.59
Investor Default Paid 0.00 173,357.41 191,605.56 364,962.97
Investor Additional Amounts Paid 0.00 0.00 0.00 0.00
Servicing Fee Paid 1,250,000.00
Excess Finance Charge Collections 2,561,601.25
- ------------------------------------------------------------------------------------------------------------------------------------
Reallocated Principal 0.00 0.00 0.00
Monthly Interest Paid 0.00 0.00
Investor Default Paid 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Outstanding Montly Interest 0.00 0.00 0.00
Principal Charge-Offs 0.00 0.00 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
Principal Funding
Controlled Accumulation Amount 0.00
Principal Funding Account Deposit 0.00
Principal Funding Account Balance 0.00
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Certificates Class A Class B CIA Investor Total
<S> <C> <C> <C> <C>
Beginning Certificates Balance 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Interest Distribution 3,346,875.00 181,093.75 206,308.59 3,734,277.34
Principal Distribution 0.00 0.00 0.00 0.00
Total Distribution 3,346,875.00 181,093.75 206,308.59 3,734,277.34
Ending Certificate Balance 675,000,000.00 35,625,000.00 39,375,000.00 750,000,000.00
Pool Factor 100.000000% 100.000000% 100.000000%
Total Distribution Per 1,000 Certificate 4.9583 5.0833 5.2396
- ------------------------------------------------------------------------------------------------------------------------------------
Interest Distribution Per 1,000 Certificate 4.9583 5.0833 5.2396
Principal Distribution Per 1,000 Certificate 0.0000 0.0000 0.0000
</TABLE>
<TABLE>
<CAPTION>
Delinquencies 1-30 31-60 61-90 91-120 120+ Total
<S> <C> <C> <C> <C> <C> <C>
Number of Accounts 212,341 37,151 17,190 12,357 17,846 296,885
Balance of Accounts 475,818,424 71,038,922 50,016,733 38,095,149 57,696,282 692,665,510.05
Change in Account Owner Retained 0.0163%
</TABLE>
<PAGE> 1
EXHIBIT 20.5
[AT&T LETTERHEAD]
March 29, 1996
Moody's Investor Service
ABS Monitoring - Fourth Floor
99 Church Street
New York, NY 10007
AT&T UNIVERSAL CARD SERVICES CORP.
The undersigned, a duly authorized representative of AT&T Universal Card
Services Corp., as Servicer ("UCS"), pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the
"Agreement"), among AT&T Universal Funding Corp., as transferor, UCS, and
Bankers Trust Company, as Trustee, does hereby certify that:
1. UCS is, as of the date hereof, the Servicer under the Agreement.
Capitalized terms used in this Certificate have their respective meanings as
set forth in the Agreement.
2. The undersigned is a Servicing Officer who is duly authorized pursuant
to the Agreement to execute and deliver this Certificate to the Trustee.
3. A review of the activities of the Servicer during the year ended
December 31, 1995, and of its performance under the Agreement was conducted
under my supervision.
4. Based on such review, the Servicer has, to the best of my knowledge,
performed in all material respects its obligations under the Agreement
throughout such year and no default in the performance of such obligations has
occurred or is continuing.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate
this 29th day of March, 1996.
AT&T UNIVERSAL CARD SERVICES CORP.
Servicer
By: /s/ Robert A. Miller
----------------------------
Robert A. Miller
Vice President of Finance
<PAGE> 2
[AT&T LETTERHEAD]
March 29, 1996
Standard & Poor's Corporation
ABS Surveillance: Credit Cards
26 Broadway, 10th Floor
New York, NY 13004
AT&T UNIVERSAL CARD SERVICES CORP.
The undersigned, a duly authorized representative of AT&T Universal Card
Services Corp., as Servicer ("UCS"), pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the
"Agreement"), among AT&T Universal Funding Corp., as transferor, UCS, and
Bankers Trust Company, as Trustee, does hereby certify that:
1. UCS is, as of the date hereof, the Servicer under the Agreement.
Capitalized terms used in this Certificate have their respective meanings as
set forth in the Agreement.
2. The undersigned is a Servicing Officer who is duly authorized pursuant
to the Agreement to execute and deliver this Certificate to the Trustee.
3. A review of the activities of the Servicer during the year ended
December 31, 1995, and of its performance under the Agreement was conducted
under my supervision.
4. Based on such review, the Servicer has, to the best of my knowledge,
performed in all material respects its obligations under the Agreement
throughout such year and no default in the performance of such obligations has
occurred or is continuing.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate
this 29th day of March, 1996.
AT&T UNIVERSAL CARD SERVICES CORP.
Servicer
By: /s/ Robert A. Miller
-----------------------------
Robert A. Miller
Vice President of Finance
<PAGE> 3
[AT&T LETTERHEAD]
March 29, 1996
Bankers Trust Company
4 Albany Street
10th Floor
New York, NY 10006
AT&T UNIVERSAL CARD SERVICES CORP.
The undersigned, a duly authorized representative of AT&T Universal Card
Services Corp., as Servicer ("UCS"), pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the
"Agreement"), among AT&T Universal Funding Corp., as transferor, UCS, and
Bankers Trust Company, as Trustee, does hereby certify that:
1. UCS is, as of the date hereof, the Servicer under the Agreement.
Capitalized terms used in this Certificate have their respective meanings as
set forth in the Agreement.
2. The undersigned is a Servicing Officer who is duly authorized pursuant
to the Agreement to execute and deliver this Certificate to the Trustee.
3. A review of the activities of the Servicer during the year ended
December 31, 1995, and of its performance under the Agreement was conducted
under my supervision.
4. Based on such review, the Servicer has, to the best of my knowledge,
performed in all material respects its obligations under the Agreement
throughout such year and no default in the performance of such obligations has
occurred or is continuing.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate
this 29th day of March, 1996.
AT&T UNIVERSAL CARD SERVICES CORP.
Servicer
By: /s/ Robert A. Miller
---------------------------------
Robert A. Miller
Vice President of Finance
<PAGE> 4
[AT&T LETTERHEAD]
March 29, 1996
Fitch Information Services, Inc.
1201 East 7th Street
Powell, Wyoming 82435
AT&T UNIVERSAL CARD SERVICES CORP.
The undersigned, a duly authorized representative of AT&T Universal Card
Services Corp., as Servicer ("UCS"), pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the
"Agreement"), among AT&T Universal Funding Corp., as transferor, UCS, and
Bankers Trust Company, as Trustee, does hereby certify that:
1. UCS is, as of the date hereof, the Servicer under the Agreement.
Capitalized terms used in this Certificate have their respective meanings as
set forth in the Agreement.
2. The undersigned is a Servicing Officer who is duly authorized pursuant
to the Agreement to execute and deliver this Certificate to the Trustee.
3. A review of the activities of the Servicer during the year ended
December 31, 1995, and of its performance under the Agreement was conducted
under my supervision.
4. Based on such review, the Servicer has, to the best of my knowledge,
performed in all material respects its obligations under the Agreement
throughout such year and no default in the performance of such obligations has
occurred or is continuing.
IN WITNESS WHEREOF, the undersigned has duly executed this Certificate
this 29th day of March, 1996.
AT&T UNIVERSAL CARD SERVICES CORP.
Servicer
By: /s/ Robert A. Miller
-------------------------------
Robert A. Miller
Vice President of Finance
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