Exhibit 99.2




                        Independent Accountant's Report


     Synthetic Fixed-Income Securities, Inc. (as Depositor)
     One Wachovia Center
     301 South College Street, DC-7
     Charlotte, NC 28288

     U.S. Bank Trust National Association (as Trustee)
     Corporate Trust Department
     100 Wall Street
     New York, NY 10005


     Re:   STRATS Trust For Wal-Mart Stores, Inc. Securities, Series 2005-4
           ----------------------------------------------------------------
           (the "Trust")
           -------------

     Ladies and Gentlemen:

     We have examined assertions of Synthetic Fixed-Income Securities, Inc.
     (the "Depositor") and U.S. Bank National Association, (the "Trustee" and
     Together with the Depositor, the "Management") that the Depositor and the
     Trustee have complied, in all material respects, with the provisions of
     the Base Trust Agreement dated as of September 26, 2003, as supplemented
     by a series supplement dated as of October 17, 2005 (together, the "Trust
     Agreement"), in respect of the STRATS Trust For Wal-Mart Stores, Inc.
     Securities, Series 2005-4 (the "Trust"), during the period covered by the
     annual report on Form 10-K filed by the Depositor on behalf of the Trust
     for the year ended December 31, 2005 (the "Annual Report"). Management is
     responsible for compliance with the Trust Agreement. Our responsibility
     is to express an opinion on Management's assertions based on our
     examination.

     Our examination was made in accordance with attestation standards
     established by the American Institute of Certified Public Accountants
     and, accordingly, included examining, on a test basis, evidence about the
     Depositor's and the Trustee's compliance with the Trust Agreement and
     performing such other procedures as considered necessary in the
     circumstances. We believe that our examination provides a reasonable
     basis for our opinion.

     In our opinion, the Depositor and the Trustee have complied, in all
     material respects, with the Trust Agreement during the period covered by
     the Annual Report and Management's assertions with respect to such
     compliance are fairly stated, in all material respects, for the year
     ended December 31, 2005.


     /s/ Aston Bell, CPA
     New York, New York
     March 16, 2006