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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001174947-08-000182.txt : 20080626
<SEC-HEADER>0001174947-08-000182.hdr.sgml : 20080626
<ACCEPTANCE-DATETIME>20080626120432
ACCESSION NUMBER:		0001174947-08-000182
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080620
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080626
DATE AS OF CHANGE:		20080626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERRILL LYNCH DEPOSITOR INC INDEXPLUS TRUST SERIES 2003-1
		CENTRAL INDEX KEY:			0001267332
		STANDARD INDUSTRIAL CLASSIFICATION:	ASSET-BACKED SECURITIES [6189]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31941
		FILM NUMBER:		08918641

	BUSINESS ADDRESS:	
		STREET 1:		WORLD FINANCIAL CENTER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e32064_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>



<!-- MARKER FORMAT-SHEET="Center no bold 2" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SECURITIES AND EXCHANGE
COMMISSION <BR>                                              WASHINGTON, D. C. 20549 </FONT></P>

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<HR SIZE=1 noshade ALIGN=CENTER WIDTH=150>

<!-- MARKER FORMAT-SHEET="Center no bold 2" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></P>

<!-- MARKER FORMAT-SHEET="Center no bold 2" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CURRENT REPORT </FONT></P>

<!-- MARKER FORMAT-SHEET="Center no bold 2" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to Section 13
or 15(d) of                              <BR>           The Securities Exchange Act of 1934 </FONT></P>

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<HR SIZE=1 noshade ALIGN=CENTER WIDTH=150>

<!-- MARKER FORMAT-SHEET="Center no bold 2" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report (Date of
earliest event reported): June 20, 2008 </FONT></P>

<!-- MARKER FORMAT-SHEET="Center Head 2-Bold" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>MERRILL LYNCH
DEPOSITOR, INC. <BR>                                   (on behalf of INDEXPLUS TRUST SERIES
2003-1)</B> <BR>                               (Exact name of registrant as specified in its
charter) </FONT></P>

<!-- MARKER FORMAT-SHEET="8K 3 col" FSL="Workstation" -->
<TABLE WIDTH=100%>
  <TR ALIGN="center" VALIGN=top>
    <TD WIDTH=30%>

<FONT SIZE="2"><B>Delaware
</B> <BR>(State or other <BR>
jurisdiction of <BR>
incorporation) </FONT>



</TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%>

<FONT SIZE="2"><B>001-31941
</B> <BR>(Commission <BR>
File Number) </FONT>


</TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%>

<FONT SIZE="2"><B>13-3891329
</B> <BR>(I. R. S. Employer <BR>
Identification No.) </FONT>

</TD>
  </TR>
  <TR ALIGN="center" VALIGN=top>
    <TD WIDTH=30%><FONT SIZE=2> </FONT></TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%><FONT SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%><FONT SIZE=2>&nbsp;</FONT></TD>
  </TR>
  <TR ALIGN="center" VALIGN=top>
    <TD WIDTH=30%>

<FONT SIZE="2"><B>World Financial Center,
<br>
      New York, New York </B> <BR>
(Address of principal <BR>
executive offices) </FONT>
</TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%><FONT SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%>

<FONT SIZE="2"><B>10080</B> <BR>
(Zip Code) </FONT>


</TD>
  </TR>
 </TABLE>

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<HR SIZE=1 noshade ALIGN=CENTER WIDTH=150>


<!-- MARKER FORMAT-SHEET="Center no bold 2" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registrant&#146;s
telephone number, including area code: (212) 449-1000 </FONT></P>

<!-- MARKER FORMAT-SHEET="Center Head 2-Bold" FSL="Workstation" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>INFORMATION TO BE
INCLUDED IN REPORT </B></FONT></P>


<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 1.
                Registrant&#146;s Business and Operations </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 2.
                Financial Information </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 3.
                Securities and Trading Markets </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 4.
                Matters Related to Accountants and Financial Statements </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 5.
                Corporate Governance and Management </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

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<BR>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>


<!-- *************************************************************************** -->
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<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 6.
                Asset-Backed Securities </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 7.
                Regulation FD </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable. </FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 8.
                Other Events </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 8.01
        Other events </B></FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Distribution
to holders of the INDEXPLUS Trust Certificates Series 2003-1 on June 20, 2008. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
information with respect to the underlying securities held by INDEXPLUS
                           Trust Series 2003-1, please refer to the respective periodic
reports, including annual                            reports on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K and                            other
information on file with the Securities and Exchange Commission (the &#147;SEC&#148;) of:
                           The Boeing Company (Commission file number 001-00442);
Citigroup Inc. (Commission file                            number 001-09924); Credit
Suisse First Boston (USA), Inc. (Commission file number
                           001-06862); DaimlerChrysler North America Holding Corporation
(Commission file number                            333-13160); DaimlerChrysler AG
(Commission file number 001-14561); Ford Motor Company
                           (Commission file number 001-03950); General Electric Capital
Corporation (Commission                            file number 001-06461); General Motors
Acceptance Corporation (Commission file number                            001-03754); The
Goldman Sachs Group, Inc. (Commission file number 001-14965); Johnson
                           &amp; Johnson (Commission file number 001-03215); Federated
Retail Holdings, Inc.                            (Commission file number 333-42940); The
May Department Stores Company, LLC (Commission                            file number
001-00079); Time Warner Inc. (Commission file number 001-15062); Time
                           Warner Companies, Inc. (Commission file number 001-08637);
Turner Broadcasting System,                            Inc. (Commission file number
001-08911); United States Department of Treasury; Valero
                           Energy Corporation (Commission file number 001-13175); Verizon
Communications Inc.                            (Commission file number 001-08606);
Verizon Global Funding Corp. (Commission file                            number
333-73612); Viacom Inc. (Commission file number 001-09553); Viacom
                           International Inc. (Commission file number 001-15153) and
Weyerhaeuser Company                            (Commission file number 001-04825).  You
can read and copy these reports and other                            information at the
public reference facilities maintained by the SEC at Room&nbsp;1580, 100
                           F Street, NE, Washington, D.C. 20549.  You may obtain copies
of this material for a                            fee by writing to the SEC&#146;s Public
Reference Section of the SEC at 100 F Street, NE,                            Washington,
D.C. 20549.  You may obtain information about the operation of the Public
                           Reference Room by calling the SEC at 1-800-SEC-0330.  You can
also access some of this                            information electronically by means
of the SEC&#146;s website on the Internet at
                           http://www.sec.gov, which  </FONT>
</TD>
</TR>
</TABLE>


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<BR>
&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>


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<!-- MARKER PAGE="sheet: 1; page: 1" -->



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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
contains
reports, proxy and information statements and other
                           information that the respective underlying securities issuers
have filed                            electronically with the SEC. </FONT></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although
we have no reason to believe the information concerning the
                           underlying securities or the underlying securities issuers
contained in the underlying                            securities issuers&#146; Exchange
Act reports is not reliable, neither the depositor nor                            the
trustee participated in the preparation of such documents or made any due
                           diligence inquiry with respect to the information provided
therein.  No investigation                            with respect to the underlying
securities issuers (including, without limitation, no
                           investigation as to their financial condition or
creditworthiness) or of the                            underlying securities has been
made.  You should obtain and evaluate the same                            information
concerning the respective underlying securities issuers as you would
                           obtain and evaluate if you were investing directly in the
respective underlying                            securities or in other securities issued
by the respective underlying securities                            issuers.  There can be
no assurance that events affecting the respective underlying
                           securities or the respective underlying securities issuers
have not occurred or have                            not yet been publicly disclosed
which would affect the accuracy or completeness of the
                           publicly available documents described above. </FONT>
</TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Section 9.
       Financial Statements and Exhibits </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Left Head 2 Bold" FSL="Workstation" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 9.01
        Financial Statements and Exhibits </B></FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>                  (a)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Financial
statements of business acquired. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Not
applicable. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang 10" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>                  (b)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pro
forma financial information. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Not
applicable. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Shell
company transactions. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush 10" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Not
applicable </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>                  (d)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibits. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>                           99.1  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
    <TD WIDTH=84%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Trustee&#146;s
report in respect of the June 20, 2008 distribution to holders of
                                    the INDEXPLUS Trust Certificates Series&nbsp;2003-1. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Page Break CENTER" FSL="Workstation" -->
<BR>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SIGNATURES </B></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush 05" FSL="Workstation" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly
                  caused this report to be signed on its behalf by the undersigned,
hereunto duly authorized. </FONT></TD>
</TR>
</TABLE>
<BR>

<table cellpadding=0 cellspacing=0 width=100%>
  <tr valign=TOP>
    <td width=46%><font face="Times New Roman, Times, serif" size="2">&nbsp; </font></td>
    <td colspan="2"><font face="Times New Roman, Times, serif" size="2">MERRILL LYNCH DEPOSITOR, INC. </font></td>
  </tr>
  <tr valign=TOP>
    <td width=46%><font face="Times New Roman, Times, serif"></font></td>
    <td colspan="2"><font face="Times New Roman, Times, serif">&nbsp;</font></td>
  </tr>
  <tr valign=TOP>
    <td width=46%><font size="2" face="Times New Roman, Times, serif">Date:</font></td>
    <td width=5%><font size="2" face="Times New Roman, Times, serif">By:</font></td>
    <td width=49%><font face="Times New Roman, Times, serif" size="2">/s/  </font><font face="Times New Roman, Times, Serif" size=2>Steven O&#146;Neill </font></td>
  </tr>
  <tr valign=TOP>
    <td width=46%>&nbsp;</td>
    <td width=5%>&nbsp;</td>
    <td width=49%>
      <hr size="1" width="100%" noshade align="left">
    </td>
  </tr>
  <tr valign=TOP>
    <td width=46%><font face="Times New Roman, Times, serif"></font></td>
    <td width=5%><font size="2" face="Times New Roman, Times, serif">Name:</font></td>
    <td width=49%><font face="Times New Roman, Times, Serif" size=2>Steven O&#146;Neill  </font></td>
  </tr>
  <tr valign=TOP>
    <td width=46%><font face="Times New Roman, Times, serif"></font></td>
    <td width=5%><font size="2" face="Times New Roman, Times, serif">Title:</font></td>
    <td width=49%><font size="2" face="Times New Roman, Times, serif">Vice-President</font></td>
  </tr>
</table>

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<BR>&nbsp;
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>


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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>EXHIBIT INDEX </B></FONT></P>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>                  99.1  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Trustee&#146;s
report in respect of the June 20, 2008 distribution to holders of the
                           INDEXPLUS Trust Certificates Series 2003-1. </FONT></TD>
</TR>
</TABLE>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e32064ex99-1.htm
<DESCRIPTION>TRUSTEE'S REPORT
<TEXT>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>EXHIBIT 99.1 </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>DISTRIBUTION REPORT <BR>
                                                        FOR <BR>
                                           INDEXPLUS TRUST SERIES 2003-1 </B></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>DISTRIBUTION DATE <BR>
                                                   June 20, 2008 <BR>
                                              CUSIP NUMBER 45408V203 </B></FONT></P>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>         (i)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
amounts received by the Trustee as of the last such statement in respect of  principal,
                  interest and premium on the &#147;Underlying Securities&#148; (see
following chart): </FONT></TD>
</TR>
</TABLE>
<BR>

<table cellpadding=0 cellspacing=0 border=0 align="center" width=400>

  <tr valign=Bottom>

    <td align=LEFT><font face="Times New Roman" size=2>Interest:                <br>

</font></td>
    <td align=RIGHT><b><font face="Times New Roman" size=2> $1,134,715.78</font></b></td>
  </tr>
  <tr valign=Bottom>

    <td align=LEFT><font face="Times New Roman" size=2>Principal:                          </font></td>
    <td align=RIGHT><b><font face="Times New Roman" size=2>0.00</font></b></td>
  </tr>
  <tr valign=Bottom>

    <td align=LEFT><font face="Times New Roman" size=2>Premium: </font></td>
    <td align=RIGHT><b><font face="Times New Roman" size=2>0.00</font></b></td>
  </tr>
</table>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>       (ii)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
amounts of compensation received by the Trustee for the period relating to such
                  Distribution Date: </FONT></TD>
</TR>
</TABLE>
<BR>

<table cellpadding=0 cellspacing=0 border=0 width=400 align="center">

  <tr valign=Bottom>

    <td align=LEFT><font face="Times New Roman" size=2>Paid by the Trust:
</font></td>
    <td align=RIGHT><b><font face="Times New Roman" size=2> $0.00</font></b></td>
  </tr>
  <tr valign=Bottom>

    <td align=LEFT><font face="Times New Roman" size=2>Paid by the Depositor:      </font></td>
    <td align=RIGHT><b><font face="Times New Roman" size=2>$3,500.00</font></b></td>
  </tr>
  <tr>

    <td></td>
    <td></td>
  </tr>
</table>
<BR>


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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>         (iii)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
amount of distribution on such Distribution Date to Holders allocable to principal of and
                  premium, if any, and interest on the Certificates and the amount of
aggregate unpaid interest                   accrued as of such Distribution Date: </FONT></TD>
</TR>
</TABLE>
<BR>

<table cellpadding=0 cellspacing=0 border=0 align="center" width=400>

  <tr valign=Bottom>

    <td align=LEFT valign="bottom"><font face="Times New Roman" size=2>Interest:                <br>
      </font></td>
    <td align=RIGHT colspan="2"><b><font face="Times New Roman" size=2>$1,134,715.78</font></b></td>
  </tr>
  <tr valign=Bottom>

    <td align=LEFT valign="bottom"><font face="Times New Roman" size=2>Principal:</font></td>
    <td align=RIGHT colspan="2"><b><font face="Times New Roman" size=2>$0.00</font></b></td>
  </tr>
  <tr valign=Bottom>
    <td align=LEFT valign="bottom">&nbsp;</td>
    <td align=RIGHT colspan="2">&nbsp;</td>
  </tr>
  <tr valign=Bottom>

    <td align=LEFT valign="bottom"><font face="Times New Roman" size=2>Unpaid Interest Accrued:          </font></td>
    <td align=RIGHT colspan="2"><b><font face="Times New Roman" size=2>$0.00</font></b></td>
  </tr>
</table>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>         (iv)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>see
the following chart for the aggregate stated principal amount of the Underlying
Securities                   related to such Series, the current interest rate or rates
thereon at the close of business on                   such Distribution Date and the
current rating assigned to the Certificates. </FONT></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>         (v)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>the
aggregate Certificate Principal Balance of such Series at the close of business on such
                  Distribution Date. </FONT></TD>
</TR>
</TABLE>
<BR>

<table cellpadding=0 cellspacing=0 border=0 width=400 align="center">

  <tr valign=Bottom>

    <td align=LEFT width="330"><font face="Times New Roman" size=2>($25 Stated Amount) <br>
                                    </font></td>
    <td align=RIGHT width="70"><font face="Times New Roman" size=2></font></td>
  </tr>
  <tr valign=Bottom>

    <td align=LEFT width="330"><font face="Times New Roman" size=2>Initial Principal Balance:<br>
                                    </font></td>
    <td align=RIGHT width="70"><b><font face="Times New Roman" size=2>  $37,500,000</font></b></td>
  </tr>
  <tr valign=Bottom>

    <td align=LEFT width="330"><font face="Times New Roman" size=2>Reduction:</font></td>
    <td align=RIGHT width="70"><b><font face="Times New Roman" size=2>                                       (0)</font></b></td>
  </tr>
  <tr valign=Bottom>
    <td align=LEFT width="330">&nbsp;</td>
    <td align=RIGHT width="70">
      <hr noshade>
    </td>
  </tr>
  <tr valign=Bottom>

    <td align=LEFT width="330"><font face="Times New Roman" size=2>Principal Balance 6/20/08:</font></td>
    <td align=RIGHT width="70"><b><font face="Times New Roman" size=2>  $37,500,000</font></b></td>
  </tr>
  <tr>

    <td width="330"></td>
    <td width="70"></td>
  </tr>
</table>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>Amounts Received Per
Issuer:</B></U> </FONT> </P>

<table cellpadding=0 cellspacing=0 border=0 width=600 align="center">
  <tr valign=Bottom align="center">
    <td width=76%><font face="Times New Roman" size=2><b><u>Issuer</u></b></font></td>
    <td width=24%><font face="Times New Roman" size=2><b><u>Interest <br>
      Collected
</u></b>       </font></td>
  </tr>

  <tr valign=Bottom align="center">

    <td width=76%><font face="Times New Roman" size=2>The Boeing Company</font></td>
    <td width=24%><font face="Times New Roman" size=2>$67,773.13</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Citigroup Inc.</font></td>
    <td><font face="Times New Roman" size=2>$65,006.88</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Credit Suisse First Boston (USA), Inc.</font></td>
    <td><font face="Times New Roman" size=2>$78,838.13</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>DaimlerChrysler AG</font></td>
    <td><font face="Times New Roman" size=2>$94,052.50</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Ford Motor Company</font></td>
    <td><font face="Times New Roman" size=2>$82,434.25</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>General Electric Capital Corporation</font></td>
    <td><font face="Times New Roman" size=2>$74,688.75</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>General Motors Acceptance Corporation</font></td>
    <td><font face="Times New Roman" size=2>$88,520.00</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>The Goldman Sachs Group, Inc.</font></td>
    <td><font face="Times New Roman" size=2>$67,773.13</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Johnson &amp; Johnson</font></td>
    <td><font face="Times New Roman" size=2>$54,771.75</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Federated Retail Holdings, Inc.</font></td>
    <td><font face="Times New Roman" size=2>$76,348.50</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Time Warner Companies, Inc.</font></td>
    <td><font face="Times New Roman" size=2>$73,305.63</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Valero Energy Corporation</font></td>
    <td><font face="Times New Roman" size=2>$82,987.50</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Verizon Communications Inc.</font></td>
    <td><font face="Times New Roman" size=2>$85,753.75</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Viacom Inc.</font></td>
    <td><font face="Times New Roman" size=2>$60,857.50</font></td>
  </tr>
  <tr valign=Bottom align="center">

    <td><font face="Times New Roman" size=2>Weyerhaeuser Company</font></td>
    <td><font face="Times New Roman" size=2>$81,604.38</font></td>
  </tr>
  <tr valign=Bottom align="center">
    <td>&nbsp;</td>
    <td>
      <hr size="1" width="100%" noshade>
    </td>
  </tr>
  <tr valign=Bottom align="center">

    <td>&nbsp;</td>
    <td><font face="Times New Roman" size=2>$1,134,715.78</font></td>
  </tr>
</table>

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<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE><HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U><B>Principal Amounts,
Rates &amp; Current Ratings:</B></U> </FONT> </P>


<table cellpadding=4 cellspacing=0 border=0 width=620 align="center">
  <tr valign=Bottom>
    <td width=45% align=CENTER><u><b><font face="Times New Roman, Times, serif" size="2">Issuer</font></b></u></td>
    <td width=15% align=CENTER><u></u></td>
    <td width=15% align=CENTER><u><b><font face="Times New Roman, Times, serif" size="2">Rate</font></b></u></td>
    <td width=10% align=CENTER><u><b><font face="Times New Roman, Times, serif" size="2">CUSIP</font></b></u></td>
    <td width=16% align=CENTER><u><b><font face="Times New Roman, Times, serif" size="2">Moody&#146;s</font></b></u></td>
    <td width=4% align=CENTER><u><b><font face="Times New Roman, Times, serif" size="2">S&amp;P</font></b></u></td>
  </tr>

  <tr valign=Bottom>

    <td width=45% align=CENTER><font face="Times New Roman, Times, serif" size="2">The Boeing Company</font></td>
    <td width=15% align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td width=10% align=CENTER><font face="Times New Roman, Times, serif" size="2">6.125%</font></td>
    <td width=16% align=CENTER><font face="Times New Roman, Times, serif" size="2">097-023-AU9</font></td>
    <td width=8% align=CENTER><font face="Times New Roman, Times, serif" size="2">A2</font></td>
    <td width=4% align=CENTER><font face="Times New Roman, Times, serif" size="2">A+</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Citigroup Inc.</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">5.875%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">172-967-BU4</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">A1</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">A+</font></td>
  </tr>


  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Credit Suisse First Boston (USA), Inc.</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">7.125%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">225-41L-AE3</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Aa1</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">AA-</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">DaimlerChrysler AG</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">8.500%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">233-835-AQ0</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">A3</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">A-</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Ford Motor Company</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">7.450%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">345-370-CA6</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Caa1</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">CCC+</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">General Electric Capital Corporation</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">6.750%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">369-62G-XZ2</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Aaa</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">AAA</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">General Motors Acceptance</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Corporation</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">8.000%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">370-425-RZ5</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">B3</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">B</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">The Goldman Sachs Group, Inc.</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">6.125%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">381-41G-CU6</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Aa3</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">AA-</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Johnson &amp; Johnson</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">4.950%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">478-160-AL8</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Aaa</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">AAA</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Federated Retail Holdings, Inc.</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">6.900%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">577-778-BQ5</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Baa3</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">BBB-</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Time Warner Companies, Inc.</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">6.625%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">887-315-BN8</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Baa2</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">BBB+</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Valero Energy Corporation</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">7.500%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">919-13Y-AE0</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Baa3</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">BBB</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Verizon Global Funding Corporation</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">7.750%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">923-44G-AS5</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">A3</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">A</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Viacom Inc.</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">5.500%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">925-524-AV2</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Baa3</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">BBB</font></td>
  </tr>
  <tr valign=Bottom>

    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Weyerhaeuser Company</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$2,213,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">7.375%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">962-166-BR4</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">Baa2</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">BBB</font></td>
  </tr>
  <tr valign=Bottom>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">United States Department of Treasury</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$4,305,000</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">0.000%</font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">912-803-CH4</font></td>
    <td align=CENTER><font size="2"></font></td>
    <td align=CENTER><font size="2"></font></td>
  </tr>
  <tr valign=Bottom>
    <td align=CENTER>&nbsp;</td>
    <td align=CENTER>&nbsp;</td>
    <td align=CENTER>&nbsp;</td>
    <td align=CENTER>&nbsp;</td>
    <td align=CENTER>&nbsp;</td>
    <td align=CENTER>&nbsp;</td>
  </tr>

  <tr valign=Bottom>
    <td align=CENTER><font size="2"></font></td>
    <td align=CENTER><font face="Times New Roman, Times, serif" size="2">$37,500,000</font></td>
    <td align=CENTER><font size="2"></font></td>
    <td align=CENTER><font size="2"></font></td>
    <td align=CENTER><font size="2"></font></td>
    <td align=CENTER><font size="2"></font></td>
  </tr>


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