EXHIBIT 99.1
DISTRIBUTION REPORT
FOR
INDEXPLUS TRUST SERIES 2003-1
DISTRIBUTION DATE
JUNE 21, 2004
CUSIP NUMBER 45408V203
(i) the amounts received by the Trustee as of the last such
statement in respect of principal, interest and premium on the
"Underlying Securities" (see following chart):
Interest: $1,134,715.78
Principal: 0.00
Premium: 0.00
(ii) the amounts of compensation received by the Trustee, for the
period relating to such Distribution Date:
Paid by the Trust: $0.00
Paid by the Depositor: $4,250.00
(iii) the amount of distribution on such Distribution Date to
Holders allocable to principal of and premium, if any, and
interest on the Certificates and the amount of aggregate
unpaid interest accrued as of such Distribution Date:
Interest: $1,134,715.75
Principal: $0.00
Unpaid Interest Accrued: $0.00
(iv) see the following chart for the aggregate stated principal
amount of the Underlying Securities related to such Series,
the current interest rate or rates thereon at the close of
business on such Distribution Date and the current rating
assigned to the Certificates.
(v) the aggregate Certificate Principal Balance of such Series at
the close of business on such Distribution Date.
($25 Stated Amount)
Initial Principal Balance: $37,500,000
Reduction: (0)
------------
Principal Balance 06/21/04: $37,500,000
AMOUNTS RECEIVED PER ISSUER:
INTEREST
ISSUER COLLECTED
------ ---------
The Boeing Company $67,773.13
Citigroup Inc. $65,006.88
Credit Suisse First Boston (USA), Inc. $78,838.13
DaimlerChrysler AG $94,052.50
Ford Motor Company $82,434.25
General Electric Capital Corporation $74,688.75
General Motors Acceptance Corporation $88,520.00
The Goldman Sachs Group, Inc. $67,773.13
Johnson & Johnson $54,771.75
The May Department Stores Company $76,348.50
Time Warner Companies, Inc. $73,305.63
Valero Energy Corporation $82,987.50
Verizon Communications Inc. $85,753.75
Viacom Inc. $60,857.50
Weyerhaeuser Company $81,604.38
-------------------
$1,134,715.78
PRINCIPAL AMOUNTS, RATES & CURRENT RATINGS:
ISSUER RATE CUSIP MOODY'S S&P
------ ---- ----- ------- ---
The Boeing Company $2,213,000 6.125% 097-023-AU9 A3 A
Citigroup Inc. $2,213,000 5.875% 172-967-BU4 Aa2 A+
Credit Suisse First Boston (USA), Inc. $2,213,000 7.125% 225-41L-AE3 Aa3 A+
DaimlerChrysler AG $2,213,000 8.500% 233-835-AQ0 A3 BBB
Ford Motor Company $2,213,000 7.450% 345-370-CA6 Baa1 BBB-
General Electric Capital Corporation $2,213,000 6.750% 369-62G-XZ2 Aaa AAA
General Motors Acceptance Corporation $2,213,000 8.000% 370-425-RZ5 A3 BBB
The Goldman Sachs Group, Inc. $2,213,000 6.125% 381-41G-CU6 Aa3 A+
Johnson & Johnson $2,213,000 4.950% 478-160-AL8 Aaa AAA
The May Department Stores Company $2,213,000 6.900% 577-778-BQ5 Baa1 BBB+
Time Warner Companies, Inc. $2,213,000 6.625% 887-315-BN8 Baa1 BBB+
Valero Energy Corporation $2,213,000 7.500% 919-13Y-AE0 Baa3 BBB
Verizon Communications Inc. $2,213,000 7.750% 923-44G-AS5 A2 A+
Viacom Inc. $2,213,000 5.500% 925-524-AV2 A3 A-
Weyerhaeuser Company $2,213,000 7.375% 962-166-BR4 Baa2 BBB
United States Department of Treasury $4,305,000 0.000% 912-803-CH4
$37,500,000