Exhibit 4

To the Holders of:
CorTS TRUST III FOR AON CAPITAL A
7.75% CORPORATE-BACKED TRUST SECURITIES (CorTS) CLASS A CERTIFICATES
*CUSIP:        22082C207               CLASS:    A
*CUSIP:        22082CAA6               CLASS:    B

U.S. Bank Trust National Association, as Trustee for the CorTS Trust III for Aon
Capital A, hereby gives notice with respect to the Distribution Date of January
1, 2004 (the "Distribution Date") as follows:

1.       The amount of the distribution payable to the Certificateholders on the
         Distribution Date allocable to principal and premium, if any, and
         interest, expressed as a dollar amount per $25 Class A Certificate and
         per $1,000 Notional Amount of Class B Certificates, is as set forth
         below:



Class    Principal    Interest     Total Distribution
                          
A        $0.000000    $0.968750    $         0.968750
B        $0.000000    $2.275000    $         2.275000


2.       The amount of aggregate interest due and not paid as of the
         Distribution Date is $0.000000.

3.       No fees have been paid to the Trustee or any other party from the
         proceeds of the Term Assets.

4.       $30,000,000 aggregate principal amount of Aon Capital A 8.205% Capital
         Securities due January 1, 2027 (the "Term Assets") are held for the
         above trust.

5.       At the close of business on the Distribution Date, 1,200,000 Class A
         Certificates representing $30,000,000 aggregate Certificate Principal
         Balance and $30,000,000 aggregate Notional Amount of Class B
         Certificates were outstanding.

6.       The current rating of the Term Assets is not provided in this report.
         Ratings can be obtained from Standard & Poor's Ratings Services, a
         division of The McGraw-Hill Companies, Inc., by calling 212-438-2400
         and from Moody's Investors Service, Inc. by calling 212-553-0377.

U.S. Bank Trust National Association, as Trustee

*The Trustee shall not be held responsible for the selection or use of the CUSIP
number nor is any representation made as to its correctness. It is included for
the convenience of the Holders.

                                        9