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 (Date of earliest event reported) ~~April~~May 2625, 2004

LEHMAN ABS CORPORATION (as Depositor under the Trust Agreement dated as of March 1, 2004, providing for the issuance of Mortgage Pass-Through Certificates, Series 2004-1)
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-108503
(Commission
File Number)

13-3447441
(IRS Employer
Identification No.)

745 Seventh Avenue, 7th Floor, New York, New York
(Address of principal executive offices)

10019
(Zip Code)

Registrant's telephone number, including area code 212-526-7000

(Former name or former address, if changed since last report.)

Item 5. Other Events and Regulation FD Disclosure.

This current report on Form 8-K relates to the monthly distribution reported to the holders of Lehman ABS Corporation Mortgage Pass-Through Certificates, Series 2004-1, which was made on ~~April~~May 2625, 2004.

Item 7. Financial Statements and Exhibits.

99.1 Monthly Distribution report pursuant to section 4.03 of the Trust Agreement for the distribution on ~~April~~May 2625, 2004. (Exhibit No. Description)

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 hereunto duly authorized.

LASALLE BANK NATIONAL ASSOCIATION, IN ITS CAPACITY AS TRUSTEE UNDER THE ~~POOLING~~TRUST ~~AND SERVICING~~ AGREEMENT ON BEHALF OF LEHMAN ABS CORPORATION, REGISTRANT

Date: ~~April~~May 28, 2004 By: /s/ Russell Goldenberg Russell Goldenberg Group Senior Vice President

Lehman ABS Corporation Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.1 Reporting Package Table of Contents Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Administrator: Megan Olson 312.904.6709megan.olson@abnamro.com Analyst: Christine Paidosh 714.238.6707 christine.paidosh@abnamro.com Statement Date: 135 S. LaSalle Street, Suite 1625Chicago, IL 60603USA Statements to CertificateholdersCash Reconciliation ~~SummaryBond~~Summary CMSA v1Bond Interest ReconciliationShortfall Summary Report Asset-Backed Facts ~ 15 Month Loan Status Summary Asset-Backed Facts ~ 15 Month Payoff/Loss SummaryOther Related Information Other Related InformationRealized Loss DetailHistorical REO Report Page 2-4Page 5-6Page 7Page 8 Page 9 Page 10Page 11 Page 12Page 13-14 Page 15 Page(s) Information is available for this issue from the following sources Issue Id: Monthly Data ~~FileName~~File Name: LHABS041 ~~LHABS041_200404_3~~LHABS041_200405_3.ZIP Closing Date: First Payment Date: Rated Final Payment: Date: 30-Mar-0426-Apr-04 25-Apr-39 Parties to The Transaction Depositor: Lehman ABS Corporation Underwriter: Lehman Brothers Inc. Master Servicer: Aurora Loan Services, Inc. Rating Agency: Moody's Investors Service, Inc./Standard & Poor's Rating Services 800.246.5761 LaSalle Factor Line LaSalle Web SiteServicer Web Site www.alservices.com www.etrustee.net Page 1 of 15 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 6.~~103227~~100656% 1.100000%1.100000% 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Lehman ABS Corporation Mortgage Pass-Through Certificates Series 2004-1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate ~~356~~355 REMIC III Statement Date: ABN AMRO Acct: 721741.1 ~~1000~~958.~~000000000~~799392500 4147.~~200607500~~152136500 0.000000000 ~~958~~911.~~799392500~~647256000 1.~~285555500~~374812000 0.00 0.00 0.000000000 1.78000000% 0.000000000 1-A1A 20,000,000.00 2019,~~000~~175,~~000~~987.0085 ~~824~~943,~~012~~042.1573 0.00 1918,~~175~~232,~~987~~945.8512 2527,~~711~~496.1124 ~~1000~~958.~~000000000~~799392682 4147.~~200607318~~152136263 0.000000000 ~~958~~911.~~799392682~~647256419 0.~~892500093~~926839332 0.00 0.00 0.000000000 1.~~19000000~~20000000% 0.000000000 1-A1B 53,514,000.00 5351,~~514~~309,~~000~~190.0070 2,~~204~~523,~~809~~299.3042 0.00 5148,~~309~~785,~~190~~891.7028 4749,~~761~~598.2588 1000.000000000 0.000000000 0.000000000 1000.000000000 3.525000034 0.00 0.00 0.000000000 4.23000000% 0.000000000 1-A2 146,779,000.00 146,779,000.00 0.00 0.00 146,779,000.00 517,395.98 ~~1000~~941.~~000000000~~830892610 5865.~~169107390~~168279380 0.000000000 ~~941~~876.~~830892610~~662613230 2.~~043888889~~147112765 0.00 0.00 0.000000000 2.83000000% 0.000000000 2-A1 96,750,000.00 9691,~~750~~122,~~000~~138.0086 56,~~627~~305,~~861~~031.1403 0.00 9184,~~122~~817,~~138~~107.8683 ~~197~~207,~~746~~733.2516 1000.000000000 0.000000000 0.000000000 1000.000000000 3.191666692 0.00 0.00 0.000000000 3.83000000% 0.000000000 2-A2 195,345,000.00 195,345,000.00 0.00 0.00 195,345,000.00 623,476.13 1000.000000000 0.000000000 0.000000000 1000.000000000 3.975000000 0.00 0.00 0.000000000 4.77000000% 0.000000000 M1 10,008,000.00 10,008,000.00 0.00 0.00 10,008,000.00 39,781.80 1000.000000000 0.000000000 0.000000000 1000.000000000 0.066666667 0.00 0.00 0.000000000 0.08000000% 0.000000000 N M1-IO 10,008,000.00 10,008,000.00 0.00 0.00 10,008,000.00 667.20 1000.000000000 0.000000000 0.000000000 1000.000000000 4.125000000 0.00 0.00 0.000000000 4.95000000% 0.000000000 M2 6,426,000.00 6,426,000.00 0.00 0.00 6,426,000.00 26,507.25 1000.000000000 0.000000000 0.000000000 1000.000000000 0.041666667 0.00 0.00 0.000000000 0.05000000% 0.000000000 N M2-IO 6,426,000.00 6,426,000.00 0.00 0.00 6,426,000.00 267.75 1000.000000000 0.000000000 0.000000000 1000.000000000 0249403.~~000000000~~800000000 0.00 024,940.0038 0249403.~~000000000~~800000000 N/A 0.000000000 P 100.00 100.00 0.00 0.00 100.00 024,940.0038 ~~1000~~985.~~000000000~~710598858 0.000000000 0.000000000 ~~985~~968.~~710598858~~650908631 0.~~000000000~~564870650 0.00 ) (1746,~~100,116~~657.7641 ) (21.~~080312083~~411923250 2.~~49637450~~40654070% 0.000000000 N X 528,822,944.02 ~~528~~521,~~822~~266,~~944~~380.0284 0.00 0.00 ~~521~~512,~~266~~244,~~380~~825.8423 0298,716.0056 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 R 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 ) (1721,~~100,116~~717.7603 528,822,100.00 ~~528~~520,~~822~~165,~~100~~417.0041 1011,~~135~~587,~~997~~954.3151 Total ~~520~~510,~~165~~394,~~417~~044.4123 89,~~656~~771,~~682~~373.5918 0.00 1,~~479~~816,~~314~~581.7233 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Page 2 of 15 Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 6.~~103227~~100656% 1.100000%1.100000% 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Lehman ABS Corporation Mortgage Pass-Through Certificates Series 2004-1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate ~~356~~355 Grantor Trust Statement Date: ABN AMRO Acct: 721741.1 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 9ABSQ247 E 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 0.00 0.00 0.00 0.00 Total 0.00 0.00 0.00 0.00 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Page 3 of 15 Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class Class CUSIP Original Opening Principal Principal Negative Closing Interest Interest Pass-Through Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Per $ 1000 Next Rate(3) WAC:WAMM:Current Index:Next Index: Payment Date:Prior Payment:Next Payment:Record Date: 6.~~103227~~100656% 1.100000%1.100000% 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Lehman ABS Corporation Mortgage Pass-Through Certificates Series 2004-1 Face Value (1) Balance Payment Adj. or Loss Amortization Balance Payment (2) Adjustment Rate ~~356~~355 Net Funds Cap Shortfalls Statement Date: ABN AMRO Acct: 721741.1 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 1-A1A 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 1-A1B 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 1-A2 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 2-A1 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 2-A2 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 M1 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 N M1-IO 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 M2 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 N M2-IO 0.00 0.00 0.00 0.00 0.00 0.00 0.000000000 0.000000000 0.000000000 0.000000000 0.000000000 0.00 0.00 0.000000000 N/A 0.000000000 X 0.00 0.00 0.00 0.00 0.00 0.00 Total P&I Payment 0.00 0.00 0.00 0.00 0.00 Total 0.00 0.00 0.00 0.00 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Page 4 of 15 Notes: (1) N denotes notional balance not included in total (2) Accrued Interest Plus/Minus Interest Adjustment Minus Deferred Interest equals Interest Payment (3) Estimated. * Denotes Controlling Class Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.1 Statement Date: Cash Reconciliation Summary Pool Group 1 Current Scheduled Interest Interest Summary Less Deferred Interest Plus Gross Advance Interest Less PPIS Reducing Scheduled Int ~~366~~321,~~778~~350.0351 0.00 ) (~~1,343~~776.4130 Less ASER Interest Adv Reduction 0.00 Less Other Adjustment 0.00 Total 1,~~126~~112,~~942~~636.3263 Unscheduled Interest:Prepayment Penalties 0.00 Yield Maintenance Penalties 0.00 Other Interest Proceeds 0.00 Total 0.00 Less Fees & Expenses Paid By/To Servicer Less Fee Paid To Servicer Less Fee Strips Paid by Servicer Special Servicing Fees Interest Due Serv on ~~Advances~~AdvancesRecoup ~~Recoup~~ of Prior ~~Advances Misc~~AdvancesMisc. Fees & Expenses Total Unscheduled Fees & ~~ExpensesTotal~~Expenses Total Interest Due Trust Less Fees & Expenses Paid By/To TrustTrustee FeeFee StripsMisc. FeesInterest Reserve ~~Withholding~~WithholdingPlus ~~Plus~~ Interest Reserve DepositTotal Total Interest Due Certs Principal Summary Scheduled Principal:Current Scheduled PrincipalAdvanced Scheduled PrincipalScheduled PrincipalUnscheduled Principal:CurtailmentsPrepayments in FullLiquidation ProceedsRepurchase ProceedsOther Principal ProceedsTotal Unscheduled Principal Remittance Principal Remittance P&I Due Trust Remittance P&I Due Certs Pool Balance Summary Beginning PoolScheduled PrincipalUnscheduled PrincipalDeferred InterestLiquidationsRepurchases Ending Pool Balance Count Principal Interest Prior ~~OutstandingPlus~~Outstanding Plus Current ~~PeriodLess~~Period Less Recovered Ending Outstanding Servicing Fee Summary Current Servicing FeesPlus Fees Advanced for PPISLess Reduction for PPISPlus Delinquent Servicing Fees Total Servicing Fees PPIS Summary Gross PPISReduced by PPIEReduced by Shortfalls in FeesReduced by Other ~~Amounts~~AmountsPPIS ~~PPIS~~ Reducing ~~ScheduledInterest~~Scheduled ~~PPIS~~InterestPPIS Reducing Servicing ~~FeePPIS~~Fee PPIS Due Certificate 0.00 0.00 0.000.00 0.00 0.00 1,~~113~~100,~~141~~165.7174 0.000.000.000.00 0.00 5042,~~745~~218.~~8099~~20 107,~~952~~209.~~64 150~~25149,~~698~~427.4445 881,~~277~~127.5748 2,~~377~~930,~~907~~844.2671 0.000.000.00 23,~~386~~011,~~184~~972.~~832~~193,~~536~~161,~~883~~399.2764 34,~~650~~261,~~024~~565.9838 34,~~650~~261,~~024~~565.9838 ~~227~~225,~~693~~156,~~045~~162.3104 ~~385~~379 ~~150~~149,~~698~~427.4445 23,~~386~~011,~~184~~972.8319 65 0.000.00 0 0.00 0 ~~225~~221,~~156~~994,~~162~~762.0440 ~~379~~374 ~~0.00 0.00~~ 99,952.64 761,507.71 99107,~~952~~209.6425 ~~761~~792,~~507~~062.7141 15109,~~144~~293.0393 805,002.42 13,247.18 0.00 ) (~~1,343~~776.4130 3233,~~292~~660.0335 46,~~092~~131.6424 ~~1,343~~776.4130 0.000.000.00 ~~1,343~~776.~~411,343~~30776.4130 0.00 Advance Summary (Advance Made by Servicer) ) (1312,~~800~~470.6189 1,~~113~~100,~~141~~165.7174 Interest Not Advanced ( Current Period ) 0.00 ~~761~~792,~~507~~062.7141 Workout FeesLiquidation Fees 0.000.00 Less Non Recovered 0) (748,567.0069 ) (97,867.96 0.~~000.~~00 0.00 0.00 Page 5 of 15 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.1 Statement Date: Cash Reconciliation Summary Pool Group 2 Current Scheduled Interest Interest Summary Less Deferred Interest Plus Gross Advance Interest Less PPIS Reducing Scheduled Int ~~451~~503,~~860~~825.4143 0.00 ) (34,~~647~~669.9749 Less ASER Interest Adv Reduction 0.00 Less Other Adjustment 0.00 Total 1,~~481~~457,~~176~~227.9216 Unscheduled Interest:Prepayment Penalties 024,940.0038 Yield Maintenance Penalties 0.00 Other Interest Proceeds 0.00 Total 024,940.0038 Less Fees & Expenses Paid By/To Servicer Less Fee Paid To Servicer Less Fee Strips Paid by Servicer Special Servicing Fees Interest Due Serv on ~~Advances~~AdvancesRecoup ~~Recoup~~ of Prior ~~Advances Misc~~AdvancesMisc. Fees & Expenses Total Unscheduled Fees & ~~ExpensesTotal~~Expenses Total Interest Due Trust Less Fees & Expenses Paid By/To TrustTrustee FeeFee StripsMisc. FeesInterest Reserve ~~Withholding~~WithholdingPlus ~~Plus~~ Interest Reserve DepositTotal Total Interest Due Certs Principal Summary Scheduled Principal:Current Scheduled PrincipalAdvanced Scheduled PrincipalScheduled PrincipalUnscheduled Principal:CurtailmentsPrepayments in FullLiquidation ProceedsRepurchase ProceedsOther Principal ProceedsTotal Unscheduled Principal Remittance Principal Remittance P&I Due Trust Remittance P&I Due Certs Pool Balance Summary Beginning PoolScheduled PrincipalUnscheduled PrincipalDeferred InterestLiquidationsRepurchases Ending Pool Balance Count Principal Interest Prior ~~OutstandingPlus~~Outstanding Plus Current ~~PeriodLess~~Period Less Recovered Ending Outstanding Servicing Fee Summary Current Servicing FeesPlus Fees Advanced for PPISLess Reduction for PPISPlus Delinquent Servicing Fees Total Servicing Fees PPIS Summary Gross PPISReduced by PPIEReduced by Shortfalls in FeesReduced by Other ~~Amounts~~AmountsPPIS ~~PPIS~~ Reducing ~~ScheduledInterest~~Scheduled ~~PPIS~~InterestPPIS Reducing Servicing ~~FeePPIS~~Fee PPIS Due Certificate 0.00 0.00 0.000.00 0.00 0.00 1,466,~~292~~233.3915 0.000.000.000.00 0.00 6567,~~275~~570.4556 ~~152~~147,~~432~~923.~~44217~~95215,~~707~~494.8951 26602,~~972~~194.2344 45,~~774~~042,~~999~~467.7902 0.000.000.00 45,~~801~~644,~~972~~661.~~025~~465,~~019~~860,~~679~~155.9197 67,~~485~~326,~~972~~389.3012 67,~~485~~326,~~972~~389.3012 ~~301~~296,~~129~~110,~~898~~218.7180 ~~533~~526 ~~217~~215,~~707~~494.8951 45,~~801~~644,~~972~~661.0246 79 0.000.00 0 0.00 0 ~~296~~290,~~110~~250,~~218~~062.8083 ~~526~~516 ~~0.00 0.00~~ 152,432.44 1,032,964.48 ~~152~~147,~~432~~923.4495 1958,~~032~~071.22 148,~~964~~103.4892 18958,~~532~~888.5092 20,603.87 0.00 ) (34,~~647~~669.9749 4441,~~202~~085.9075 5957,~~087~~020.4314 34,~~647~~669.9749 0.000.000.00 34,~~647~~669.~~973~~494,~~647~~669.9749 0.00 Advance Summary (Advance Made by Servicer) ) (1415,~~884~~934.5339 1,466,~~292~~233.3915 Interest Not Advanced ( Current Period ) 0.00 1958,~~032,964~~071.4822 Workout FeesLiquidation Fees 0.000.00 Less Non Recovered 0) (1,032,146.0078 ) (152,252.47 0.~~000.~~00 0.00 0.00 Page 6 of 15 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Lehman ABS Corporation Class Accrued Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.11Bond ~~Bond~~ Interest Reconciliation Deductions Allocable Deferred & Prior Prepay- Other Additions Interest Credit Support Original Current(4) Accrual Int. Short- falls Due ment Interest Interest (2) Payment Amount PPIS Interest Certificate Accretion Interest Loss/Exp Interest Penalties Proceeds (1) Interest Shortfalls Certificate Rate ~~Pass~~PassThru ~~Thru~~ Method Days Outstanding Remaining Statement Date: Distributable Current Period (Shortfall)/ Recovery Int Accrual on Prior Shortfall (3) 0.00 0.00 0.00 0.00 0.00 E 30 0.00 0.00 0.00 0.00 NA NA 0.000000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1-A1A 2629 2527,~~711~~496.1124 2527,~~711~~496.1124 2527,~~711~~496.1124 0.00 NA NA 30/360 1.780000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1-A1B 2729 4749,~~761~~598.2588 4749,~~761~~598.2588 4749,~~761~~598.2588 0.00 NA NA 30/360 1.~~190000000~~200000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1-A2 30 517,395.98 517,395.98 517,395.98 0.00 NA NA 30/360 4.230000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2-A1 2629 ~~197~~207,~~746~~733.2516 ~~197~~207,~~746~~733.2516 ~~197~~207,~~746~~733.2516 0.00 NA NA 30/360 2.830000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2-A2 30 623,476.13 623,476.13 623,476.13 0.00 NA NA 30/360 3.830000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M1 30 39,781.80 39,781.80 39,781.80 0.00 NA NA 30/360 4.770000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M1-IO 30 667.20 667.20 667.20 0.00 NA NA 30/360 0.080000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M2 30 26,507.25 26,507.25 26,507.25 0.00 NA NA 30/360 4.950000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 M2-IO 30 267.75 267.75 267.75 0.00 NA NA 30/360 0.050000000% 0.00 0.00 0.00 0.00 024,940.0038 0.00 0.00 0.00 P 30 0.00 024,940.0038 024,940.0038 0.00 NA NA 30/360 0.000000000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 X 30 1,~~100~~045,~~116~~373.7697 12,~~100~~145,~~116~~490.7673 0298,716.0056 1,~~100~~846,~~116~~774.7617 NA NA 30/360 2.~~496374498~~406540705% ) (746,657.41 1,100,116.76 0.00 0.00 0.00 0.00 024,940.0038 0.00 ~~0.00~~ 2,~~579~~538,~~431~~298.4836 23,~~579~~663,~~431~~355.4850 1,~~479~~816,~~314~~581.7233 1,~~100~~846,~~116~~774.7617 ) (746,657.41 1,100,116.76 0.00 ~~0.00~~ (2) Accrued - Deductions + Additions Interest (3) Includes interest accrued on outstanding Interest Shortfalls and/or Loss Allocations. Where applicable. 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Page 7 of 15 (1) Other Interest Proceeds are additional interest amounts specifically allocated to the bond(s) and used in determining the bonds Distributable Interest. (4) Determined as follows: (A) the ending balance of all the classes less (B) the sum of (i) the ending balance of the class and (ii) the ending balance of all classes which are not subordinate to the class divided by (A). Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.1 Interest Adjustments Summary Statement Date: 0.00 0.00 0.00 0.00 Special Servicing Fees Workout Fees Liquidation Fees Legal Fees 0.00 0.00 Misc. Fees & Expenses Paid by/to Servicer Interest Paid to Servicer on Outstanding Advances 0.00 0.00 ASER Interest Advance Reduction Interest Not Advanced (Current Period) Recoup of Prior Advances by Servicer 0.00 0.00 Servicing Fees Paid Servicer on Loans Not Advanced Misc. Fees & Expenses Paid by Trust 0.00 0.00 0.00 Shortfall Due to Rate Modification Total Shortfall Allocated to the Bonds Total Interest Adjustment to the Bonds 0.00 Shortfall Allocated to the Bonds: Excess Allocated to the Bonds: Other Interest Proceeds Due the Bonds Yield Maintenance Penalties Due the Bonds Prepayment Penalties Due the Bonds Recovered ASER Interest Due the Bonds Recovered Interest Due the Bonds Less Total Shortfall Allocated to the Bonds Total Excess Allocated to the Bonds 024,940.0038 024,940.0038 Total Excess Allocated to the Bonds 024,940.0038 0.00 Aggregate Interest Adjustment Allocated to the Bonds 0.00 024,940.0038 0.00 0.00 Prepayment Interest Excess Due the Bonds 0.00 ARD Excess Interest 0.00 Other Interest Loss 0.00 0.00 Net Prepayment Int. Shortfalls Allocated to the Bonds Page 8 of 15 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 Asset-Backed Facts ~ 15 Month Historical Loan Status Summary Distribution Date Delinq 1 Month Delinq 2 Months Delinq 3+ Months Foreclosure REO Modifications Specially Serviced Bankruptcy # Balance # Balance # Balance # Balance # Balance # Balance # Balance # Balance Delinquency Aging Categories Special Event Categories (1) Statement Date: ABN AMRO Acct: 721741.1 0.22% 0.11% 0.11% 0.39% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25-May-04 2 560,098 1 1,991,293 0 0 0 0 0 0 0 0 0 0 0.00% 0.00% 0.00% 0.00% 0 0.00% 0 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 26-Apr-04 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category Page 9 of 15 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Asset-Backed Facts ~ 15 Month Historical Payoff/Loss Summary Distribution Date Ending Pool (1) Payoffs(2) Penalties Appraisal Reduct. (2) Liquidations (2) Realized Losses (2) Remaining Term Curr Weighted Avg. # Balance # Balance # Amount # Balance # Balance # Amount Life Coupon Remit Statement Date: Amort ABN AMRO Acct: 721741.1 Series 2004-1 25-May-04 890 96.95% 512,244,825 96.87% 1.55% 1.53% 0 0.00% 0 0.00% 0 0.00% 0 0.00% 0 0.00% 0 0.00% 355 355 6.10% 5.85% 1 24,940 14 7,973,312 26-Apr-04 905 98.58% 521,266,381 98.57% 1.42% 1.35% 0 0.00% 0 0.00% 0 0.00% 0 0.00% 0 0.00% 0 0.00% 356 356 6.10% 5.85% 0 0 13 7,152,907 (1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period. Page 10 of 15 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.1 Other Reporting Information Statement Date: Class 1-~~A1AClass~~A1A Class 1-~~A1BClass~~A1B Class 1-A2Class 2-A1 Deferred Amounts: Class 2-~~A2Class~~A2 Class M1Class M2 Pool 1 Overcollateralization: Pool 2 Overcollateralization: Pool 1 Overcollateralization Deficiency: Pool 2 Overcollateralization Deficiency: Pool Group 1 Interest Remittance Amount: Pool Group 2 Interest Remittance Amount: Pool Group 1 Principal Remittance Amount: Pool Group 2 Principal Remittance Amount: Pool Group 1 Principal Distribution Amount: Pool Group 2 Principal Distribution Amount: Aggregate OverCollateralization Release Amount: ~~491,983~~0.4800 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ~~609,079~~0.9400 ~~304,942.52 444,875.06~~ 1,~~113~~100,~~141~~165.7174 1,~~466~~441,292.3977 23,~~536~~161,~~883~~399.2764 5,~~019~~860,~~679~~155.9197 3,~~028~~466,~~821~~342.4415 56,~~627~~305,~~861~~031.1403 0.00 796,926.00 1,053,955.00 Page 11 of 15 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.1 Other Reporting Information Statement Date: Aggregate Distributions to Classes X, P, R, E: Class XClass PPClass ~~Class~~RClass ~~R Class~~ E Current Distribution Net Funds Cap Shortfalls: Class 1-A1AClass 1-A1BClass 1-A2Class 2-1A Unpaid Net Funds Cap Shortfalls: Class 1-A1AClass 1-A1BClass 1-A2Class 2-A1Class 2-A2Class M1Class M2 Class 2-A2Class M1Class M2Class M1-IOClass M2-IO Class M1-IO Class M2-IO 0298,716.0056 24,940.38 0.~~000.~~00 0.00 0.000.000.00 0.000.00 0.00 0.00 0.000.00 0.~~000.~~00 0.~~00 0.~~000.000.000.000.000.00 0.00 0.00 Page 12 of 15 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.1 Realized Loss Detail Period Disclosure Control # Appraisal Date Appraisal Value BeginningScheduled Balance Gross Proceeds Gross Proceeds as a % of Sched. Balance Aggregate ~~Liquidation~~LiquidationExpenses ~~Expenses~~ * Net Liquidation Proceeds Net Proceeds as a % of Sched. Balance Realized Loss Statement Date: Not Avail. Not Avail. Current TotalCumulative 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Page 13 of 15 * Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc.. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 ABN AMRO Acct: 721741.1 Realized Loss Detail Period Disclosure Control # Appraisal Date Appraisal Value BeginningScheduled Balance Gross Proceeds Gross Proceeds as a % of Sched. Balance Aggregate ~~Liquidation~~LiquidationExpenses ~~Expenses~~ * Net Liquidation Proceeds Net Proceeds as a % of Sched. Balance Realized Loss Statement Date: Not Avail. Not Avail. Current TotalCumulative 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Page 14 of 15 * Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc.. Lehman ABS Corporation Payment Date:Prior Payment:Next Payment:Record Date: 2625-~~Apr~~May-~~0426~~0425-May-04 26-Apr-04 ~~N/A~~ 25-~~May~~Jun-04 3130-~~Mar~~Apr-04 Mortgage Pass-Through Certificates Series 2004-1 Historical Collateral Level REO Report Property Type Statement Date: State Actual Balance Scheduled Balance Recent Appraisal Value Appraisal Reduction Amount Date Liquidated Liquidation Proceeds Liquidation Expenses Realized Loss Disclosure Control # REO Date City Appraisal Date ABN AMRO Acct: 721741.1 2621-~~Apr~~May-2004 - 1408:2258 () (c) 2004 LaSalle Bank N.A. Page 15 of 15

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