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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported): March 22, 2005

                          Allstate Life Global Funding
               (as depositor of Allstate Life Global Funding Trust
               2004-5 (the "Trust")) (Exact name of registrant as
                            specified in its charter)


                        Delaware 001-32192 Not applicable
     (State or other jurisdiction of (Commission File Number) (IRS Employer
                       incorporation) Identification No.)


                            c/o AMACAR Pacific Corp.
                             6525 Morrison Boulevard
                                    Suite 318
                               Charlotte, NC 28211
                    (Address of principal executive offices)
                                   (Zip Code)


       Registrant's telephone number, including area code: (704) 365-0569


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Item 8.01  Other Events

         (a) Attached hereto as Exhibit 99.1 is the Indenture Trustee's Report.

         (b) Allstate Life is subject to the informational requirements of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), which means
that it files periodic reports, including reports on Form 10-K and 10-Q, and
other information with the Securities and Exchange Commission (the
"Commission"). All of the reports and other information filed by Allstate Life
under the Exchange Act are incorporated by reference into the registration
statement filed with the Commission by Allstate Life and Allstate Life Global
Funding ("Global Funding") (SEC Registration No. 333-112249) related to the
offering, from time to time, of medium term notes by one or more newly formed
Delaware statutory trusts, including the notes of the Trust, and into each
periodic report on Form 10-K of Global Funding and the Trust. The Quarterly
Report filed by Allstate Life on Form 10-Q for the quarter ended September 30,
2004 was also incorporated by reference into the Current Report on Form 8-K of
Global Funding and the Trust filed with the Commission on November 12, 2004. You
can read and copy any reports or other information that Allstate Life files
under the Exchange Act at the SEC's public reference room at 450 Fifth Street,
N.W., Washington, D.C. 20549. You can also request copies of such documents upon
payment of a duplicating fee, by writing to the SEC's public reference room. You
can obtain information regarding the public reference room by calling the SEC at
1-800-SEC-0330. Such filings of Allstate Life are available to the public from
commercial document retrieval services and over the internet at
http://www.sec.gov. (This uniform resource locator (URL) is an inactive textual
reference only and is not intended to incorporate the SEC web site into this
report).






                                   SIGNATURES

         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.



                                  Allstate Life Global Funding
                                  (Registrant)

Date:  March 23, 2005             By:      AMACAR Pacific Corp.,
                                           not in its individual capacity,
                                           but solely as administrator*

                                  By:     /s/ Evelyn Echevarria
                                         __________________
                                  Name:  Evelyn Echevarria
                                  Title:  Vice President

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* Allstate Life Global Funding and Allstate Life Global Funding Trust 2004-5 are
statutory trusts organized under the laws of the State of Delaware and has no
officers. AMACAR Pacific Corp., as administrator, is the sole provider of
administrative services to Allstate Life Global Funding and Allstate Life Global
Funding Trust 2004-5.





                                  EXHIBIT INDEX


Exhibit
Number                Description

Exhibit  99.1         Indenture Trustee's Report