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 March 6, 2001 Commission File Number 333-70003-01 FIRST SECURITY AUTO OWNER TRUST 1999-1 (Exact name of registrant as specified in its charter) State of incorporation Delaware I.R.S. Employer Identification No. 87-6242432 Address of principal executive offices 79 South Main, P.O. Box 30006 Salt Lake City, Utah Zip Code 84130-0006 Registrant's telephone number, including area code (801) 246-5891 Item 7. Financial Statements and Exhibits Pursuant to its agreement with certificate holders, this report is filed to report data relating to this trust as contained in the monthly servicing report sent to certificate holders by the trustee. Attached as Exhibit A is a copy of the monthly servicing report for the period December 26, 2000 through January 25, 2001. 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, thereunto duly authorized. FIRST SECURITY AUTO OWNER TRUST 1999-1 (Registrant) By: FIRST SECURITY BANK, N.A. (Seller and Servicer) /s/ Brad D. Hardy March 6, 2001 __________________________________________________________ __________________ Brad D. Hardy (Date) Authorized Officer EXHIBIT A

First Security Auto Owner Trust 1999-1 Monthly Statement to Noteholders Servicer: First Security Bank, N.A. ~~October~~December 26, 2000 Thru ~~November~~January 25, ~~2000~~2001 Distribution Date: 1202-15-0001 Statement for Class A and Class B Noteholders Pursuant Per $1,000 of Original to Section 4.7 of the Sale and Servicing Agreement Class A/Class B Note Amount (i) Principal Distribution Class A-1 Amount - - Class A-2 Amount - - Class A-3 Amount 1817,~~081~~080,~~157~~416.2016 7571.~~3382~~1684 Class A-4 Amount - - Class B Amount 1976,~~034,137~~900.4485 2221.~~8048~~5426 (ii) Interest Distribution Class A-1 Amount - - Class A-2 Amount - - Class A-3 Amount ~~705~~551,~~942~~925.4038 2.~~9414~~2997 Class A-4 Amount 1,205,400.00 4.7833 Class B Amount ~~115~~106,~~498~~026.7281 2.~~5470~~3381 (iii) Basic Servicing Fee ~~355~~326,~~762~~582.7649 0.~~3529~~3239 (iv) Outstanding Advances (end of preceding collection period) - (v) Aggregate Receivables (end of preceding collection period) ~~426~~391,~~915~~898,~~313~~990.7593 (vi) Class A-1 Note Balance (end of Collection Period) - Class A-1 Pool Factor (end of Collection Period) - Class A-2 Note Balance (end of Collection Period) - Class A-2 Pool Factor (end of Collection Period) - Class A-3 Note Balance (end of Collection Period) ~~133~~101,~~734~~613,~~412~~213.1543 Class A-3 Pool Factor (end of Collection Period) 0.~~5572267~~4233884 Class A-3 Note Balance (end of Collection Period) 252,000,000.00 Class A-3 Pool Factor (end of Collection Period) 1.0000000 Class B Note Balance (end of Collection Period) 2220,~~065~~228,~~606~~460.9649 Class B Pool Factor (end of Collection Period) 0.~~4865903~~4460776 Total Pool Balance (end of Collection Period) ~~407~~373,~~800~~841,~~019~~673.1192 (vii) Realized Losses ~~911~~695,~~442~~979.0470 (viii) Noteholders Interest Carryover Shortfall - Noteholders Principal Carryover Shortfall - (ix) Aggregate Purchase Amount of Receivables Repurchased by the Sellers or purchased by Servicers - (x) Reserve Account Balance 2021,~~162~~213,~~948~~945.0155 Average Delinquency Ratio 01.~~8619~~0047% Average Net Loss Ratio 1.~~7333~~6890% Specified Reserve Account Balance 2033,~~162~~645,~~948~~750.0165 (xi) Gross Loss Ratio 12.9212%

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