Exhibit 99.1

              INDENTURE TRUSTEE'S REPORT WITH RESPECT TO THE TRUST

                      Distribution Date: December 24, 2004
                              CUSIP No.: 02003MAF1

         (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:                                $513,831.97
                         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:                                $513,831.97
                         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:                        $85,000,000.00
                         Interest Rate:                           Floating
                         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:                        $85,000,000.00


                         Interest Rate:                           Floating
                         Ratings:                                 AA/Aa2