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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001174947-09-000171.txt : 20090629
<SEC-HEADER>0001174947-09-000171.hdr.sgml : 20090629
<ACCEPTANCE-DATETIME>20090629163149
ACCESSION NUMBER:		0001174947-09-000171
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090622
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090629
DATE AS OF CHANGE:		20090629

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:		09916592

	BUSINESS ADDRESS:	
		STREET 1:		WORLD FINANCIAL CENTER
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10281
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>e35781_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>



<!-- MARKER FORMAT-SHEET="Center Head 2-Bold" 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>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">FORM 8-K </FONT> </P>

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

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<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>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Date of Report (Date
of earliest event reported): June 22, 2009 </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)
<BR></B>(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>&nbsp; <br>
       (Commission
  <br>
      File Number)
      <br>
            </FONT></TD>
    <TD WIDTH=5%>&nbsp;&nbsp;</TD>
    <TD WIDTH=30%><FONT SIZE=2><b>13-3891329</b>&nbsp; <br>
                      (I. R. S. Employer
 <br>
                    Identification No.)
            </FONT></TD>
  </TR>
 </TABLE>


 <br>
<!-- MARKER FORMAT-SHEET="8K 3 col" FSL="Workstation" -->
<TABLE WIDTH=100%>
  <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>&nbsp;<b>10080</b> <br>
                                           (Zip Code)
      </FONT></TD>
  </TR>
 </TABLE>

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

<!-- MARKER FORMAT-SHEET="Center Head 2-Bold" 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="Para Flush 00" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2.): </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;&nbsp;&nbsp;]  </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>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </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;&nbsp;&nbsp;]  </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>Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </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;&nbsp;&nbsp;]  </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>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </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;&nbsp;&nbsp;]  </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>Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </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>
<!-- MARKER FORMAT-SHEET="EE Page Break" FSL="Workstation" -->
<DIV TITLE="EE+ Page Break" STYLE="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px"></DIV>
<!-- -->


<!-- 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>

<!-- 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>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 22, 2009. </FONT></TD>
</TR>
</TABLE>


<!-- 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;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 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 contains reports, proxy and information statements and
other information that the respective underlying securities issuers have filed
electronically with the SEC. <br>
  <br>
  </FONT></P>

<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>
<!-- MARKER FORMAT-SHEET="EE Page Break" FSL="Workstation" -->
<DIV TITLE="EE+ Page Break" STYLE="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px"></DIV><!-- -->

<!-- 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;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></P>

<!-- 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>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>

<!-- 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>                  (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=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=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Trustee&#146;s
report in respect of the June 22,                                     2009 distribution
to holders of the                                     INDEXPLUS Trust Certificates Series
2003-1. </FONT></TD>
</TR>
</TABLE>
<br>
<BR>

<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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<DIV TITLE="EE+ Page Break" STYLE="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px"></DIV><!-- -->




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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 00" FSL="Workstation" -->
<P><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></P>


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<table width="100%" border="0" cellspacing="0" cellpadding="0">
  <tr valign="top">
    <td width="34%">&nbsp;</td>
    <td width="16%">&nbsp;&nbsp;</td>
    <td width="50%">
      <p><font face="Times New Roman, Times, Serif" size=2>MERRILL LYNCH DEPOSITOR, INC. </font></p>
      <!-- MARKER FORMAT-SHEET="Para Flush 00" FSL="Workstation" -->
</td>
  </tr>
  <tr valign="top">
    <td width="34%">&nbsp;</td>
    <td width="16%">&nbsp;</td>
    <td width="50%">&nbsp;</td>
  </tr>
  <tr valign="top">
    <td width="34%"><font face="Times New Roman, Times, Serif" size=2>Date: June 29,
2009</font></td>
    <td width="16%">&nbsp;</td>
    <td width="50%"><font face="Times New Roman, Times, Serif" size=2>By:      /s/ Steven O&#146;Neill
</font>
      <hr size="1" noshade align="left" width="125">
    </td>
  </tr>
  <tr valign="top">
    <td width="34%">&nbsp;</td>
    <td width="16%">&nbsp;</td>
    <td width="50%"><font face="Times New Roman, Times, Serif" size=2>Name:    Steven O&#146;Neill
                                                      <br>
      Title:   &nbsp;&nbsp;Director</font></td>
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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 22, 2009 distribution to holders of the
                           INDEXPLUS Trust Certificates Series 2003-1. </FONT></TD>
</TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e35781ex99_1.htm
<DESCRIPTION>DISTRIBUTION 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 22, 2009                              <BR>CUSIP NUMBER
45408V203 </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>         (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>
<div align="center"><BR>

  <TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>

    <TR VALIGN=Bottom>
      <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Interest:</FONT></TD>
      <TD WIDTH=50% ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$1,134,715.78&nbsp;</FONT></b></TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Principal:</FONT></TD>
      <TD ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0.00&nbsp;</FONT></b></TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Premium:</FONT></TD>
      <TD ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>0.00&nbsp;</FONT></b></TD>
    </TR>
  </TABLE>
  <br>
</div>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<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>
<div align="center"><BR>

  <TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>

    <TR VALIGN=Bottom>
      <TD WIDTH=74% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Paid by the Trust:</FONT></TD>
      <TD WIDTH=26% ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$0.00&nbsp;</FONT></b></TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Paid by the Depositor:</FONT></TD>
      <TD ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$3,500.00&nbsp;</FONT></b></TD>
    </TR>
  </TABLE>
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<TR VALIGN=TOP>
<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>
<div align="center"><BR>

  <TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>

    <TR VALIGN=Bottom>
      <TD WIDTH=68% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Interest:</FONT></TD>
      <TD WIDTH=32% ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$1,134,715.78&nbsp;</FONT></b></TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Principal:</FONT></TD>
      <TD ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$0.00&nbsp;</FONT></b></TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT>&nbsp;&nbsp;</TD>
      <TD ALIGN=RIGHT>&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Unpaid Interest Accrued:</FONT></TD>
      <TD ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$0.00&nbsp;</FONT></b></TD>
    </TR>
  </TABLE>
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<TR VALIGN=TOP>
<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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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<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>
<div align="center"><BR>

  <TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>

    <TR VALIGN=Bottom>
      <TD WIDTH=81% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>($25 Stated Amount)</FONT></TD>
      <TD WIDTH=19% ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT width="81%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Initial Principal Balance:</FONT></TD>
      <TD ALIGN=RIGHT width="19%"><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$37,500,000&nbsp;</FONT></b></TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT width="81%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Reduction:</FONT></TD>
      <TD ALIGN=RIGHT width="19%"><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(0)&nbsp;&nbsp;</FONT>

      </b></TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT width="81%">&nbsp;</TD>
      <TD ALIGN=RIGHT width="19%">
        <hr size="1" noshade>
      </TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=LEFT width="81%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Principal Balance 6/22/09:</FONT></TD>
      <TD ALIGN=RIGHT width="19%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>$37,500,000&nbsp;</b></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>Amounts Received Per
Issuer:</B></U> </FONT></P>
<P ALIGN=center>&nbsp; </P>
<div align="center">
  <TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
    <TR VALIGN=Bottom>
      <TH width="438"><FONT FACE="Times New Roman" SIZE=1>Issuer </FONT>
        <HR WIDTH=40 SIZE=1 noshade>
      </TH>
      <TH colspan="2"><FONT FACE="Times New Roman" SIZE=1>Interest <BR>
Collected </FONT>
        <HR WIDTH=50% SIZE=1 noshade>
      </TH>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER WIDTH=438><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Boeing Company</FONT></TD>
      <TD ALIGN=RIGHT WIDTH=113><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$67,773.13&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT WIDTH=49>&nbsp;&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Citigroup Inc.</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$65,006.88&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Credit Suisse First Boston (USA), Inc.</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$78,838.13&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>DaimlerChrysler AG</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$94,052.50&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ford Motor Company</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$82,434.25&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>General Electric Capital Corporation</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$74,688.75&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>General Motors Acceptance Corporation</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$88,520.00&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Goldman Sachs Group, Inc.</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$67,773.13&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Johnson &amp; Johnson</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$54,771.75&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Federated Retail Holdings, Inc.</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$76,348.50&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Time Warner Companies, Inc.</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$73,305.63&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Valero Energy Corporation</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$82,987.50&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Verizon Communications Inc.</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$85,753.75&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Viacom Inc.</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$60,857.50&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Weyerhaeuser Company</FONT></TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$81,604.38&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438">&nbsp;</TD>
      <TD ALIGN=RIGHT width="113">
        <hr size="1" noshade>
      </TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER width="438">&nbsp;</TD>
      <TD ALIGN=RIGHT width="113"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$1,134,715.78&nbsp;</FONT></TD>
      <TD ALIGN=RIGHT width="49">&nbsp;</TD>
    </TR>
  </TABLE>
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<BR>
  &nbsp;
</div>
<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>
<div align="center">
  <TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=740>
    <TR VALIGN=Bottom>

      <TH><FONT FACE="Times New Roman" SIZE=1>Issuer</FONT>
        <HR WIDTH=40 SIZE=1 noshade>
    </TH>
      <TH>&nbsp;</TH>
      <th><font face="Times New Roman" size=1>Rate</font>
        <hr width=40 size=1 noshade>
    </th>
      <th><font face="Times New Roman" size=1>CUSIP</font>
        <hr width=50 size=1 noshade>
    </th>
      <th><font face="Times New Roman" size=1>Moody&#146;s</font>
        <hr width=50 size=1 noshade>
    </th>
      <th><font face="Times New Roman" size=1>S&amp;P</font>
        <hr width=40 size=1 noshade>
    </th>
    </TR>
    <TR VALIGN=Bottom>

      <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Boeing 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>6.125</FONT></TD>
      <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>097-023-AU9</FONT></TD>
      <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A2</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>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>Baa1</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>A+</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>BBB+</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>Ca</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>Aa2</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>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>Ca</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>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>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>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>Ba2</FONT></TD>
      <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>BB</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>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>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>Ba1</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>
    </TR>
    <TR VALIGN=Bottom>
      <TD ALIGN=CENTER>&nbsp;&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>&nbsp;</TD>
      <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$37,500,000</FONT></TD>
      <TD ALIGN=CENTER>&nbsp;</TD>
      <TD ALIGN=CENTER>&nbsp;</TD>
      <TD ALIGN=CENTER>&nbsp;</TD>
      <TD ALIGN=CENTER>&nbsp;</TD>
    </TR>
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