<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>efc7-1468_6216963ex991.txt
<TEXT>


                                 Exhibit 99.1


                       Trustee's Distribution Statement


To the Holders of:
STRATS(SM) TRUST FOR PROCTER & GAMBLE SECURITIES, SERIES 2006-1
Structured Repackaged Asset-Backed Trust Securities
*CUSIP:    863121208 - Variable Floating Rate Certificates


The Bank of New York, as Trustee for the STRATS(SM) TRUST FOR PROCTER & GAMBLE
SECURITIES, SERIES 2006-1, hereby gives notice with respect to the Scheduled
Distribution Date of May 15, 2007 (the "Distribution Date") as follows:

1.    The amount received from Wachovia Bank, N.A. (the "Swap Counterparty")
      on the Distribution Date was $129,146.33 and was distributed to
      Certificateholders as interest. The above amount was calculated by
      applying an interest rate of 4.98275% plus 0.70% to a notional amount
      of $27,650,000 pursuant to a swap agreement dated as of February 28,
      2006 between the Trustee and the Swap Counterparty (the "Swap
      Agreement").

2.    The amount of the distribution payable to the Certificateholders on the
      Distribution Date allocable to principal and premium, if any, and
      interest, expressed as a dollar amount per $25 Certificate is set forth
      below:

               Principal          Interest           Total Distribution
               $    0.000000      $    0.116769      $   0.116769

3.    The amount of aggregate interest due and not paid as of the Distribution
      Date is 0.000000.

4.    No fees have been paid to the Trustee or any other party from the
      proceeds of the Underlying Securities.

5.    At the close of business on April 16, 2007, the first day of the
      distribution period to which this statement relates (the "Beginning
      Date"), $27,650,000 aggregate principal amount of The Procter & Gamble
      Company 5.80% Notes due August 15, 2034 (the "Underlying Securities")
      were held for the above trust. At the close of business on the
      Distribution Date, $27,650,000 aggregate principal amount of the
      Underlying Securities were held for the above trust.

6.    At the close of business on the Beginning Date, 1,106,000 Certificates
      representing $27,650,000 aggregate Certificate Principal Balance were
      outstanding. At the close of business on the Distribution Date,
      1,106,000 Certificates representing $27,650,000 aggregate Certificate
      Principal Balance were outstanding.


7.    Pursuant to the Series Supplement, dated as of February 28, 2006,
      between the Depositor and the Trustee, the Trustee is required to
      establish an account in which to deposit all funds posted to secure the
      obligations of the Swap Counterparty under the Swap Agreement (the
      "Collateral Account"). At the close of business on the Beginning Date,
      the balance in the Collateral Account was $4,180,000. At the close of
      business on the Distribution Date, the balance in the Collateral Account
      was $4,520,000.


<PAGE>


8.    The record date for the Distribution Date was May 14, 2007 and the
      Interest Accrual Period for the Distribution Date was the period from
      and including April 15, 2007 to but excluding May 15, 2007. The current
      rating of the Underlying Securities is not provided in this report.
      Ratings can be obtained from Standard & Poor's Ratings Services, a\
      division of The McGraw-Hill Companies, Inc., by calling 212-438-2400
      and from Moody's Investors Service, Inc. by calling 212-553-0377.

The Bank of New York, as Trustee


*The Trustee shall not be held responsible for the selection or use of the
CUSIP number nor is any representation made as to its correctness. It is
included solely for the convenience of the Holders.


                                      2

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