Exhibit 99.1

              INDENTURE TRUSTEE'S REPORT WITH RESPECT TO THE TRUST

                       Distribution Date: August 25, 2004
                              CUSIP No.: 02003MAB0

     (i)      the amounts received by the Indenture Trustee as of the last
              such statement in respect of principal, interest and premium
              on the related funding agreement(s):

                     Principal:                               0

                     Interest:                                $1,012,500.00

                     Premium:                                 0

     (ii)     the Indenture Trustee shall receive an annual administration
              fee of $13,000 in connection with all outstanding issuances of
              notes under the Allstate Life Secured Medium Term Notes
              Program and a one-time initial acceptance fee of $4,000

     (iii)    the amount of distribution on such Distribution Date to
              holders of the Trust's notes allocable to principal of and
              premium, if any, and interest on the Trust's notes as of such
              Distribution Date:

                     Interest:                                $1,012,500.00

                     Principal:                               0

                     Premium:                                 0


     (iv)     the aggregate stated principal amount, current interest rate
              or rates at the close of business on such Distribution Date
              and the current ratings, of the funding agreement(s)
              underlying the Trust's notes:

                     Principal Amount:                        $300,000,000.00

                     Interest Rate:                           1.810%

                     Ratings:                                 AA/Aa2


     (v)      the aggregate stated principal amount, current interest rate
              or rates at the close of business on such Distribution Date
              and the current ratings, of the Trust's notes:

                     Principal Amount:                        $300,000,000.00

                     Interest Rate:                           1.810%

                     Ratings:                                 AA/Aa2