EXHIBIT 20.1


                         ANNUAL SERVICER'S CERTIFICATE

                         THE NEIMAN MARCUS GROUP, INC.

                 NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST

      The undersigned, a duly authorized representative of The Neiman Marcus
Group, Inc., as Servicer ("NMG"), pursuant to the Pooling and Servicing
Agreement dated as of March 1, 1995 (as may be amended and supplemented from
time to time, the "Agreement"), among Neiman Marcus Funding Corporation, as
Seller, NMG as Servicer, and The Chase Manhattan Bank, N.A., as Trustee, does
hereby certify that:

      1.    NMG is, as of the date hereof, the Servicer under the Agreement. 
Capitalized terms used in this Certificate have their respective meanings as
set forth in the Agreement.

      2.    The undersigned is a Servicing Officer who is duly authorized
pursuant to the Agreement to execute and deliver this Certificate to the
Trustee.

      3.    A review of the activities of the Servicer during the fiscal year
ended August 3, 1996,  and of its performance under the Agreement was
conducted under my supervision.

      4.    Based on such review, the Servicer has, to the best of my
knowledge, performed in all material respects its obligations under the
Agreement throughout such year and no default in the performance of such
obligations has occurred or is continuing except as set forth in paragraph 5
below.

      5.    The following is a description of each default in the performance
of the Servicer's obligations under the provisions of the Agreement known to
me to have been made by the Servicer during the fiscal year ended August 3,
1996, which sets forth in detail (i) the nature of each such default, (ii) the
action taken by the Servicer, if any, to remedy each such default and (iii)
the current status of each such default: NONE.

      IN WITNESS WHEREOF, the undersigned has duly executed this Certificate
this 1st day of November, 1996.


                                          THE NEIMAN MARCUS GROUP, INC.
                                                as Servicer,


                                          By:   /S/ Paul F. Gibbons
                                                Paul F. Gibbons 
                                                Vice President and Treasurer