EXHIBIT 99.1
DISTRIBUTION REPORT
FOR
INDEXPLUS TRUST SERIES 2003-1
DISTRIBUTION DATE
JUNE 20, 2005
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: $1,134,715.78
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 06/20/05: $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 Baa3 BB+
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 Baa2 BB
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 Baa2 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 Global Funding Corporation $2,213,000 7.750% 923-44G-AS5 A2 A+
Viacom Inc. $2,213,000 5.500% 925-524-AV2 A3 BBB+
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