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) December 17, 2004

Structured Asset Securities Corporation II
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction
of incorporation)

333-111598
(Commission
File Number)

82-0569805
(IRS Employer
Identification No.)

745 Seventh Avenue, 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.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 - Other Events

Item 8.01. Other Events.

This current report on Form 8-K relates to the monthly distribution reported to the holders of LB-UBS Commercial Mortgage Trust 2004-C1, Commercial Mortgage Pass-Through Certificates, Series 2004-C1, which was made on December 17, 2004.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1 Monthly Distribution Report, Pursuant to Section 4.02 of the Pooling and Servicing Agreement for the distribution on December 17, 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 AND SERVICING AGREEMENT ON BEHALF OF STRUCTURED ASSET SECURITIES CORPORATION II, REGISTRANT

By: /s/ Russell Goldenberg
Russell Goldenberg
Group Senior Vice President

Date: December 22, 2004

LB-UBS Commercial Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Reporting Package Table of Contents

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Administrator:
Kathryn Hawkinson 312.904.6561
kathryn.hawkinson@abnamro.com

Analyst:
Suzanne Severson 714.259.6226
Suzanne.Severson@abnamro.com

Statement Date:

135 S. LaSalle Street, Suite 1625
Chicago, IL 60603
USA

Statements to Certificateholders
Cash Reconciliation Summary
Bond Interest Reconciliation
Shortfall Summary Report

Asset-Backed Facts ~ 15 Month Loan Status Summary

Asset-Backed Facts ~ 15 Month Loan Payoff/Loss Summary
Loan Level Detail

Realized Loss Detail
Historical REO Report
Appraisal Reduction Detail

Page 2-4
Page 5
Page 6
Page 7

Page 8

Page 9
Page 10-14

Page 15
Page 16

Page 17

Modified Loan Detail

Specially Serviced (Part I) - Loan Detail
Summary of Loan Maturity Extensions
Rating Information

Page 18

Page 19
Page 20
Page 21-22

Page(s)

Information is available for this issue from the following sources

Issue Id:

Monthly Data File
Name:

LUBS04C1

LUBS04C1_200412_3.ZIP

Closing Date:

First Payment Date:

Rated Final Payment: Date:

4-Feb-04
18-Feb-04

17-Jan-36

Parties to The Transaction

Depositor: Structured Asset Securities Corporation II

Underwriter: Lehman Brothers Inc./UBS Asset Securitization Corp.

Master Servicer: Wachovia Bank, National Association

Special Servicer: Lennar Partners, Inc.

Rating Agency: Standard & Poor's/Moody's Investors Service, Inc.

800.246.5761

LaSalle Factor Line

LaSalle Web Site

Servicer Web Site

www.wachovia.com

www.etrustee.net

Page 1 of 22

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.668358%

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

LB-UBS Commercial Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

105

REMIC III

Statement Date:

ABN AMRO Acct: 721668.1

914.864493725

9.331930000

0.000000000

905.532563725

2.259715294

Fixed

0.00

0.000000000

2.96400000%

0.000000000

52108HYG3

A-1

153,000,000.00

139,974,267.54

1,427,785.29

0.00

138,546,482.25

345,736.44

1000.000000000

0.000000000

1000.000000000

3.020000000

Fixed

0.00

0.000000000

3.62400000%

0.000000000

52108HYH1

A-2

213,000,000.00

0.00

213,000,000.00

643,260.00

1000.000000000

0.000000000

1000.000000000

3.634166637

Fixed

0.00

0.000000000

4.36100000%

0.000000000

52108HYJ7

A-3

113,000,000.00

0.00

113,000,000.00

410,660.83

1000.000000000

0.000000000

1000.000000000

3.806666662

Fixed

0.00

0.000000000

4.56800000%

0.000000000

52108HYK4

A-4

751,262,000.00

0.00

751,262,000.00

2,859,804.01

1000.000000000

0.000000000

1000.000000000

4.008333467

4.810000000%

0.00

0.000000000

4.81000000%

0.000000000

52108HYL2

12,463,000.00

0.00

12,463,000.00

49,955.86

1000.000000000

0.000000000

1000.000000000

4.038333467

4.846000000%

0.00

0.000000000

4.84600000%

0.000000000

52108HYM0

12,463,000.00

0.00

12,463,000.00

50,329.75

1000.000000000

0.000000000

1000.000000000

4.120833177

4.945000000%

0.00

0.000000000

4.94500000%

0.000000000

52108HYN8

16,023,000.00

0.00

16,023,000.00

66,028.11

1000.000000000

0.000000000

1000.000000000

4.149166862

4.979000000%

0.00

0.000000000

4.97900000%

0.000000000

52108HYP3

21,365,000.00

0.00

21,365,000.00

88,646.95

1000.000000000

0.000000000

1000.000000000

4.165833266

4.999000000%

0.00

0.000000000

4.99900000%

0.000000000

52108HYQ1

12,463,000.00

0.00

12,463,000.00

51,918.78

1000.000000000

0.000000000

1000.000000000

4.230833266

5.077000000%

0.00

0.000000000

5.07700000%

0.000000000

52108HYR9/U51394GB1/52108HYS7

24,926,000.00

0.00

24,926,000.00

105,457.75

1000.000000000

0.000000000

1000.000000000

4.349105903

5.407841365%

0.00

0.000000000

5.21892711%

0.000000000

52108HYT5/U51394GC9/52108HYU2

19,584,000.00

0.00

19,584,000.00

85,172.89

1000.000000000

0.000000000

1000.000000000

4.432438922

5.507841365%

0.00

0.000000000

5.31892711%

0.000000000

52108HYV0/U51394GD7/52108HYW8

14,244,000.00

0.00

14,244,000.00

63,135.66

1000.000000000

0.000000000

1000.000000000

4.557439306

5.657841365%

0.00

0.000000000

5.46892711%

0.000000000

52108HYX6/U51394GE5/52108HYY4

16,023,000.00

0.00

16,023,000.00

73,023.85

1000.000000000

0.000000000

1000.000000000

4.097500702

4.917000000%

0.00

0.000000000

4.91700000%

0.000000000

52108HYZ1/U51394GF2/52108HZA5

7,122,000.00

0.00

7,122,000.00

29,182.40

1000.000000000

0.000000000

1000.000000000

4.097500468

4.917000000%

0.00

0.000000000

4.91700000%

0.000000000

52108HZB3/U51394GG0/52108HZC1

5,341,000.00

0.00

5,341,000.00

21,884.75

1000.000000000

0.000000000

1000.000000000

4.097500702

4.917000000%

0.00

0.000000000

4.91700000%

0.000000000

52108HZD9/U51394GH8/52108HZE7

3,561,000.00

0.00

3,561,000.00

14,591.20

Page 2 of 22

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

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.668358%

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

LB-UBS Commercial Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

105

REMIC III

Statement Date:

ABN AMRO Acct: 721668.1

1000.000000000

0.000000000

1000.000000000

4.097500702

4.917000000%

0.00

0.000000000

4.91700000%

0.000000000

52108HZF4/U51394GJ4/52108HZG2

7,122,000.00

0.00

7,122,000.00

29,182.40

1000.000000000

0.000000000

1000.000000000

4.097500000

4.917000000%

0.00

0.000000000

4.91700000%

0.000000000

52108HZH0/U51394GK1/52108HZJ6

3,560,000.00

0.00

3,560,000.00

14,587.10

1000.000000000

0.000000000

1000.000000000

4.097501404

4.917000000%

0.00

0.000000000

4.91700000%

0.000000000

52108HZK3/U51394GL9/52108HZL1

1,781,000.00

0.00

1,781,000.00

7,297.65

1000.000000000

0.000000000

1000.000000000

4.073428793

4.917000000%

0.00

)

(385.72

)

(0.024071372

4.91700000%

0.000000000

52108HZM9/U51394GM7/52108HZN7

16,024,014.00

0.00

16,024,014.00

65,272.68

990.854816112

0.000000000

989.852388105

0.191846884

0.412335360%

0.00

0.000000000

0.23234106%

0.000000000

52108HZP2/U51394GN5/52108HZQ0

X-CL

1,424,327,014.00

1,411,301,281.54

0.00

1,409,873,496.25

273,252.70

1000.000000000

0.000000000

1000.000000000

0.878424209

1.054039055%

0.00

0.000000000

1.05410905%

0.000000000

52108HZR8/U51394GP0/52108HZS6

X-CP

1,233,063,000.00

0.00

1,233,063,000.00

1,083,152.39

984.585036570

0.000000000

982.918564628

0.820487517

Fixed

0.00

0.000000000

1.00000000%

0.000000000

52108HZT4/U51394GQ8/52108HZU1

X-ST

229,674,914.00

226,134,483.60

0.00

225,751,736.80

188,445.40

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSP688

R-III

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSP686

R-I

0.00

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSP687

R-II

0.00

Total P&I Payment

0.00

)

(385.72

1,424,327,014.00

1,411,301,281.54

8,047,764.84

Total

1,409,873,496.25

1,427,785.29

0.00

6,619,979.55

Page 3 of 22

Class

CUSIP

Original

Opening

Principal

Negative

Closing

Interest

Pass-Through

Per $ 1000

Next Rate(3)

WAC:
WAMM:

Payment Date:
Prior Payment:
Next Payment:
Record Date:

5.668358%

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

LB-UBS Commercial Mortgage Trust

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

Face Value (1)

Balance

Payment

Adj. or Loss

Amortization

Balance

Payment (2)

Adjustment

Rate

105

Grantor Trust

Statement Date:

ABN AMRO Acct: 721668.1

0.000000000

0.00

0.000000000

N/A

0.000000000

9ABSP689

0.00

Total P&I Payment

0.00

Total

0.00

Page 4 of 22

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Statement Date:

Cash Reconciliation Summary

Current Scheduled Interest

Interest Summary

Less Deferred Interest

Plus Gross Advance Interest

Less PPIS Reducing Scheduled Int

6,478,863.45

0.00
0.00

Less ASER Interest Adv Reduction

0.00

Less Other Adjustment

0.00

Total

6,665,369.22

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

Recoup of Prior Advances

Misc. Fees & Expenses

Total Unscheduled Fees & Expenses
Total Interest Due Trust

Less Fees & Expenses Paid By/To Trust
Trustee Fee
Fee Strips
Misc. Fees
Interest Reserve Withholding

Plus Interest Reserve Deposit
Total

Total Interest Due Certs

Principal Summary

Scheduled Principal:
Current Scheduled Principal
Advanced Scheduled Principal
Scheduled Principal
Unscheduled Principal:
Curtailments
Prepayments in Full
Liquidation Proceeds
Repurchase Proceeds
Other Principal Proceeds
Total Unscheduled Principal
Remittance Principal

Remittance P&I Due Trust

Remittance P&I Due Certs

Pool Balance Summary

Beginning Pool
Scheduled Principal
Unscheduled Principal
Deferred Interest
Liquidations
Repurchases

Ending Pool

Balance

Count

Principal

Interest

Prior Outstanding
Plus Current Period
Less Recovered

Ending Outstanding

Servicing Fee Summary

Current Servicing Fees
Plus Fees Advanced for PPIS
Less Reduction for PPIS
Plus Delinquent Servicing Fees

Total Servicing Fees

PPIS Summary

Gross PPIS
Reduced by PPIE
Reduced by Shortfalls in Fees
Reduced by Other Amounts

PPIS Reducing Scheduled
Interest

PPIS Reducing Servicing Fee
PPIS Due Certificate

0.00

)

(337.50

)

(48.22

)

(385.72

6,621,567.26

)

(1,587.71

0.00
0.00
0.00

)

(1,587.71

1,384,741.06

43,044.24

1,427,785.30

)

(0.01

0.00
0.00
0.00
0.00

)

(0.01

1,427,785.29

8,049,352.55

8,047,764.84

1,411,301,282.03

103

1,427,785.30

-0.01

0.00
0.00

0.00

1,409,873,496.74

103

24,739.05

125,559.38

43,044.24

186,505.77

43,044.24

186,505.76

43,416.24

0.00
0.00

1,098.38

44,514.61

0.00
0.00
0.00
0.00
0.00
0.00

0.00

)

(43,416.24

6,619,979.55

Interest Not Advanced (

Current Period

)

0.00

186,505.77

Workout Fees
Liquidation Fees

0.00
0.00

Less Non Recovered

)

(125,559.39

)

(24,739.05

0.00

Advance Summary (Advance Made by Servicer)

Page 5 of 22

LB-UBS Commercial Mortgage Trust

Class

Accrued

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

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

Thru

Method Days

Outstanding

Remaining

Statement Date:

Distributable

Current Period

(Shortfall)/

Recovery

Int Accrual

on Prior

Shortfall (3)

0.00

A-1

345,736.44

0.00

13.63%

13.76%

30/360

2.964000000%

0.00

A-2

643,260.00

0.00

13.63%

13.76%

30/360

3.624000000%

0.00

A-3

410,660.83

0.00

13.63%

13.76%

30/360

4.361000000%

0.00

A-4

2,859,804.01

0.00

13.63%

13.76%

30/360

4.568000000%

0.00

49,955.86

0.00

12.75%

12.88%

30/360

4.810000000%

0.00

50,329.75

0.00

11.88%

12.00%

30/360

4.846000000%

0.00

66,028.11

0.00

10.75%

10.86%

30/360

4.945000000%

0.00

88,646.95

0.00

9.25%

9.34%

30/360

4.979000000%

0.00

51,918.78

0.00

8.38%

8.46%

30/360

4.999000000%

0.00

105,457.75

0.00

6.63%

6.69%

30/360

5.077000000%

0.00

85,172.89

0.00

5.25%

5.30%

30/360

5.218927108%

0.00

63,135.66

0.00

4.25%

4.29%

30/360

5.318927108%

0.00

73,023.85

0.00

3.13%

3.16%

30/360

5.468927108%

0.00

29,182.40

0.00

2.63%

2.65%

30/360

4.917000000%

0.00

21,884.75

0.00

2.25%

2.27%

30/360

4.917000000%

0.00

14,591.20

0.00

2.00%

2.02%

30/360

4.917000000%

0.00

29,182.40

0.00

1.50%

1.52%

30/360

4.917000000%

0.00

14,587.10

0.00

1.25%

1.26%

30/360

4.917000000%

0.00

7,297.65

0.00

1.13%

1.14%

30/360

4.917000000%

0.00

65,658.40

68,521.92

65,272.68

3,249.24

0.00%

30/360

4.917000000%

)

(385.72

2,863.52

0.00

X-CL

273,252.70

0.00

30/360

0.232341063%

0.00

X-CP

1,083,152.39

0.00

30/360

1.054109055%

0.00

X-ST

188,445.40

0.00

30/360

1.000000000%

0.00

0.000000000%

0.00

6,620,365.27

6,623,228.79

6,619,979.55

3,249.24

)

(385.72

2,863.52

0.00

(2) Accrued - Deductions + Additions Interest

(3) Includes interest accrued on outstanding Interest Shortfalls and/or Loss Allocations. Where applicable.

Page 6 of 22

(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).

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Interest Adjustments Summary

Statement Date:

0.00

Special Servicing Fees

Workout Fees

Liquidation Fees

Legal Fees

337.50

0.00

Misc. Fees & Expenses Paid by/to Servicer

Interest Paid to Servicer on Outstanding Advances

48.22

0.00

ASER Interest Advance Reduction

Interest Not Advanced (Current Period)

Recoup of Prior Advances by Servicer

0.00

Servicing Fees Paid Servicer on Loans Not Advanced

Misc. Fees & Expenses Paid by Trust

0.00

Shortfall Due to Rate Modification

Total Shortfall Allocated to the Bonds

Total Interest Adjustment to the Bonds

385.72

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

0.00

0.00

Total Excess Allocated to the Bonds

)

(385.72

)

(385.72

Aggregate Interest Adjustment Allocated to the Bonds

0.00

Prepayment Interest Excess Due the Bonds

0.00

ARD Excess Interest

0.00

Net Prepayment Int. Shortfalls Allocated to the Bonds

Other Interest Loss

Page 7 of 22

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

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

Delinquency Aging Categories

Special Event Categories (1)

Statement Date:

ABN AMRO Acct: 721668.1

0.00%

17-Dec-04

0.00%

18-Nov-04

0.00%

18-Oct-04

0.00%

17-Sep-04

0.00%

17-Aug-04

0.00%

16-Jul-04

0.00%

17-Jun-04

0.00%

17-May-04

0.00%

16-Apr-04

0.00%

17-Mar-04

0.00%

18-Feb-04

(1) Note: Modification, Specially Serviced & Bankruptcy Totals are Included in the Appropriate Delinquency Aging Category

Page 8 of 22

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial 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

# Amount

# Balance

# Amount

Life

Coupon Remit

Statement Date:

Amort

ABN AMRO Acct: 721668.1

Series 2004-C1

17-Dec-04

103

100.00%

1,409,873,497

98.99%

0.00%

105

104

5.67%

5.63%

18-Nov-04

103

100.00%

1,411,301,282

99.09%

0.00%

106

105

5.86%

5.82%

18-Oct-04

103

100.00%

1,412,545,657

99.17%

0.00%

107

106

5.67%

5.63%

17-Sep-04

103

100.00%

1,413,960,310

99.27%

0.00%

108

107

5.86%

5.82%

17-Aug-04

103

100.00%

1,415,191,184

99.36%

0.00%

109

108

5.86%

5.82%

16-Jul-04

103

100.00%

1,416,415,811

99.44%

0.00%

110

109

5.67%

5.63%

17-Jun-04

103

100.00%

1,417,811,448

99.54%

0.00%

111

110

5.86%

5.82%

17-May-04

103

100.00%

1,419,022,773

99.63%

0.00%

112

111

5.67%

5.63%

16-Apr-04

103

100.00%

1,420,405,601

99.72%

0.00%

113

112

5.86%

5.82%

17-Mar-04

103

100.00%

1,421,603,757

99.81%

0.00%

114

113

5.67%

5.63%

18-Feb-04

103

100.00%

1,423,152,035

99.92%

0.00%

115

114

5.67%

5.63%

(1) Percentage based on pool as of cutoff. (2) Percentage based on pool as of beginning of period.

Page 9 of 22

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

6.00000%

11-Oct-16

LUBS04CB

Office

0.00

225,751,737

1,513,419

5.24679%

8-Jan-14

LUBS04CA

Office

0.00

200,000,000

874,465

4.65000%

11-May-13

LUBS04CA

Office

0.00

128,338,512

661,908

5.36040%

11-Sep-08

LUBS04CA

Office

0.00

60,000,000

268,020

4.57500%

11-Dec-08

LUBS04CA

Retail

0.00

56,136,723

291,356

6.65000%

11-Dec-13

LUBS04CA

Industrial

0.00

45,800,265

296,909

6.20000%

11-Nov-13

LUBS04CA

Retail

0.00

39,528,410

244,988

6.14000%

11-Jan-14

LUBS04CA

Office

0.00

29,697,938

182,574

5.36000%

11-Jan-09

LUBS04CA

Office

0.00

29,000,000

129,533

5.82000%

11-Nov-13

LUBS04CA

Retail

0.00

21,915,854

130,542

5.57500%

11-Dec-13

LUBS04CA

Mobile home park

0.00

20,000,000

92,917

5.24250%

1-Nov-08

LUBS04CA

Retail

0.00

18,972,015

106,210

5.69000%

11-Sep-15

LUBS04CA

Retail

0.00

18,464,198

108,706

6.17000%

11-Jan-14

LUBS04CA

Office

0.00

17,324,950

106,842

5.64000%

11-Jan-09

LUBS04CA

Office

0.00

16,315,038

95,140

5.70000%

11-Nov-13

LUBS04CA

Mobile home park

0.00

16,480,000

78,280

6.21000%

11-Apr-13

LUBS04CA

Office

0.00

16,198,127

101,164

5.94000%

11-Jan-14

LUBS04CA

Other

0.00

14,667,782

95,455

7.25000%

1-Jan-16

LUBS04CA

Retail

0.00

13,695,633

150,171

6.32000%

11-Oct-18

LUBS04CA

Retail

0.00

13,591,885

91,964

6.74000%

11-Feb-14

LUBS04CA

Retail

0.00

13,638,776

89,091

6.22300%

11-Oct-15

LUBS04CA

Retail

0.00

13,601,897

84,573

6.36000%

11-Oct-13

LUBS04CA

Office

0.00

12,796,783

84,064

Page 10 of 22

* NOI and DSCR, if available and reportable under the terms of the trust agreement, are based on information obtained from the related borrower, and no other party to the agreement shall be held liable for the accuracy or methodology used to

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

6.01000%

11-Jan-14

LUBS04CA

Retail

0.00

12,469,494

75,624

5.39000%

11-Oct-10

LUBS04CA

Multifamily

0.00

12,410,552

70,674

5.36400%

11-Oct-13

LUBS04CA

Retail

0.00

11,621,616

65,996

5.32000%

11-Sep-08

LUBS04CA

Multifamily

0.00

11,605,749

65,673

5.45000%

11-Oct-13

LUBS04CA

Retail

0.00

11,329,247

64,935

5.57000%

11-Oct-10

LUBS04CA

Retail

0.00

10,214,940

59,307

6.06000%

11-Sep-13

LUBS04CA

Retail

0.00

8,974,712

54,938

5.67000%

11-Nov-13

LUBS04CA

Retail

0.00

8,239,671

48,305

5.26000%

11-Oct-13

LUBS04CA

Retail

0.00

8,066,659

49,487

5.97000%

11-Dec-08

LUBS04CA

Retail

0.00

8,107,089

49,005

5.16000%

11-Nov-13

LUBS04CA

Retail

0.00

8,079,575

44,825

6.09000%

11-Nov-13

LUBS04CA

Industrial

0.00

7,903,389

48,428

5.79000%

11-Nov-13

LUBS04CA

Multifamily

0.00

7,748,881

46,010

5.81000%

11-Oct-13

LUBS04CA

Multifamily

0.00

7,692,712

45,816

6.26000%

11-Nov-13

LUBS04CA

Office

0.00

7,264,481

45,303

6.27000%

11-Sep-13

LUBS04CA

Multifamily

0.00

7,201,789

45,042

6.58000%

11-Nov-17

LUBS04CA

Industrial

0.00

7,171,456

46,207

5.81000%

11-Oct-13

LUBS04CA

Multifamily

0.00

7,026,997

41,852

6.05000%

11-Nov-13

LUBS04CA

Retail

0.00

6,692,468

40,838

6.44000%

11-Sep-13

LUBS04CA

Office

0.00

6,514,488

41,456

5.95000%

11-Dec-13

LUBS04CA

Retail

0.00

6,030,580

36,377

5.50000%

11-Oct-10

LUBS04CA

Retail

0.00

6,000,000

27,500

6.01000%

11-Nov-13

LUBS04CA

Office

0.00

5,284,260

32,110

Page 11 of 22

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

6.34000%

11-Sep-13

LUBS04CA

Retail

0.00

5,229,789

32,944

6.19000%

11-Nov-13

LUBS04CA

Retail

0.00

5,177,164

32,926

4.80000%

11-Sep-08

LUBS04CA

Retail

0.00

4,908,589

26,233

5.76000%

11-Aug-13

LUBS04CA

Retail

0.00

4,821,757

28,626

5.86000%

11-Dec-13

LUBS04CA

Industrial

0.00

4,823,365

28,820

6.05000%

11-Nov-13

LUBS04CA

Multifamily

0.00

4,741,527

28,933

5.69000%

11-Nov-13

LUBS04CA

Industrial

0.00

4,736,844

27,829

6.38000%

11-Oct-15

LUBS04CA

Retail

0.00

4,741,763

29,961

5.77000%

11-Jan-29

LUBS04CA

Retail

0.00

4,486,898

28,742

6.05000%

11-Sep-13

LUBS04CA

Mobile home park

0.00

4,495,635

27,486

6.01000%

11-Oct-13

LUBS04CA

Office

0.00

4,194,024

25,508

6.00000%

11-Oct-13

LUBS04CA

Retail

0.00

3,947,202

23,982

6.12000%

11-Jan-14

LUBS04CA

Retail

0.00

3,844,722

23,587

5.29000%

11-Sep-13

LUBS04CA

Industrial

0.00

3,835,402

21,633

6.29000%

11-Jan-14

LUBS04CA

Office

0.00

3,663,954

22,878

5.59500%

11-Dec-13

LUBS04CA

Retail

0.00

3,654,544

21,229

5.99000%

11-Sep-13

LUBS04CA

Multifamily

0.00

3,449,953

20,962

6.10000%

11-Sep-13

LUBS04CA

Multifamily

0.00

3,357,456

20,634

5.59500%

11-Dec-13

LUBS04CA

Retail

0.00

3,318,721

19,278

5.59500%

11-Dec-13

LUBS04CA

Retail

0.00

3,318,721

19,278

6.14000%

11-Nov-13

LUBS04CA

Retail

0.00

3,319,863

20,448

6.31000%

11-Nov-13

LUBS04CA

Retail

0.00

3,301,565

20,695

6.37500%

11-Jan-14

LUBS04CA

Self storage

0.00

3,202,934

21,691

Page 12 of 22

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

5.69000%

11-Nov-10

LUBS04CA

Retail

0.00

3,187,501

18,726

6.33000%

11-Oct-13

LUBS04CA

Retail

0.00

3,165,000

21,434

6.17000%

11-Dec-13

LUBS04CA

Retail

0.00

3,061,445

18,896

6.23000%

11-Nov-28

LUBS04CA

Retail

0.00

2,973,667

19,931

6.25000%

11-Jan-14

LUBS04CA

Retail

0.00

2,970,514

18,472

5.59500%

11-Dec-13

LUBS04CA

Retail

0.00

2,963,144

17,213

5.34000%

11-Oct-08

LUBS04CA

Multifamily

0.00

2,855,940

16,176

5.92000%

11-Nov-13

LUBS04CA

Multifamily

0.00

2,814,294

16,941

6.13000%

11-Nov-13

LUBS04CA

Retail

0.00

2,766,479

17,022

6.31000%

11-Nov-13

LUBS04CA

Retail

0.00

2,693,642

16,885

6.25000%

11-Jan-14

LUBS04CA

Office

0.00

2,692,276

16,741

6.00000%

11-Jan-14

LUBS04CA

Retail

0.00

2,671,974

16,188

5.93000%

11-Oct-13

LUBS04CA

Multifamily

0.00

2,614,484

15,769

4.81000%

11-Nov-08

LUBS04CA

Multifamily

0.00

2,559,030

13,657

5.76000%

11-Oct-13

LUBS04CA

Industrial

0.00

2,534,268

15,014

6.14000%

11-Dec-13

LUBS04CA

Retail

0.00

2,459,036

16,322

5.67000%

11-Nov-13

LUBS04CA

Mobile home park

0.00

2,466,967

14,463

6.33000%

11-Dec-13

LUBS04CA

Multifamily

0.00

2,275,941

14,281

5.34000%

11-Oct-08

LUBS04CA

Multifamily

0.00

2,265,056

12,829

6.16000%

11-Oct-13

LUBS04CA

Retail

0.00

2,221,328

13,722

6.41000%

11-Nov-13

LUBS04CA

Multifamily

0.00

2,175,239

13,776

6.23000%

11-Nov-28

LUBS04CA

Retail

0.00

2,161,238

14,486

6.11000%

11-Nov-13

LUBS04CA

Office

0.00

2,111,346

13,997

Page 13 of 22

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Loan Level Detail

Disclosure

Control #

Group

Property

Type

Maturity

Date

PFY

DSCR

Operating
Statement

Date

Geo.

Location

Ending

Principal

Balance

Note
Rate

Scheduled

P&I

Prepayment

Amount

Prepayment

Date

Loan

Status

Code (1)

Statement Date:

6.34000%

11-Dec-13

LUBS04CA

Retail

0.00

2,017,541

13,637

6.75000%

11-Sep-13

LUBS04CA

Industrial

0.00

1,980,779

13,004

6.44000%

11-Oct-13

LUBS04CA

Self storage

0.00

1,963,488

13,429

6.34000%

11-Jan-14

LUBS04CA

Multifamily

0.00

1,941,116

12,183

6.51000%

11-Oct-13

LUBS04CA

Retail

0.00

1,877,617

12,022

6.37500%

11-Jan-14

LUBS04CA

Self storage

0.00

1,675,381

11,346

6.44000%

11-Sep-13

LUBS04CA

Retail

0.00

1,653,298

10,521

5.85000%

11-Nov-13

LUBS04CA

Multifamily

0.00

1,604,334

9,587

100

5.59500%

11-Dec-13

LUBS04CA

Retail

0.00

1,511,203

8,779

101

6.47000%

11-Sep-13

LUBS04CA

Self storage

0.00

1,480,695

9,451

102

6.03000%

11-Aug-08

LUBS04CA

Office

0.00

1,368,515

9,046

103

1,409,873,497

8,094,253

Page 14 of 22

determine such figures.

(1) Legend:

A. In Grace Period

B. Late Payment but < 1 month delinq

1. Delinquent 1 month
2. Delinquent 2 months

3. Delinquent 3+ months

4. Performing Matured Balloon

7. Foreclosure

9. REO

5. Non Performing Matured Ballon

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Realized Loss Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

Gross

Proceeds

Gross Proceeds

as a % of

Sched. Balance

Aggregate

Liquidation

Expenses *

Net

Liquidation

Proceeds

Net Proceeds

as a % of

Sched. Balance

Realized

Loss

Statement Date:

Current Total
Cumulative

Page 15 of 22

* Aggregate liquidation expenses also include outstanding P&I advances and unpaid servicing fees, unpaid trustee fees, etc..

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

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: 721668.1

Page 16 of 22

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

ASER Detail

Period

Disclosure

Control #

Appraisal

Date

Appraisal

Value

Beginning
Scheduled

Balance

ASER

Prin

Balance

ASER Prin

ADV Reduction

Amount

Current

Appraisal

Reduction Date

Current Appraisal

Reduction

Amount

Cumulative

ASER

Amount

Statement Date:

ASER Int

ADV Reduction

Amount

Page 17 of 22

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Modified Loan Detail

Disclosure

Control #

Modification

Date

Cutoff

Maturity

Date

Modification

Description

Modified

Maturity

Date

Statement Date:

Page 18 of 22

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Specially Serviced (Part I) ~ Loan Detail (End of Period)

Disclosure

Control #

Servicing

Xfer Date

Balance

Note
Rate

Maturity

Date

Remaining

Property

Type

Geo.

Location

NOI

DSCR

NOI
Date

Schedule

Actual

Life

Statement Date:

Loan

Status

Code(1)

Page 19 of 22

(1) Legend:

A. P&I Adv - in Grace Period
B. P&I Adv - < one month delinq

1. P&I Adv - delinquent 1 month
2. P&I Adv - delinquent 2 months

3. P&I Adv - delinquent 3+ months
4. Mat. Balloon/Assumed P&I

7. Foreclosure

9. REO

5. Non Performing Mat. Balloon

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Maturity Extension Summary

Statement Date:

Loans which have had their Maturity Dates extended

Stated Principal Balance outstanding:
Weighted Average Extension Period:

Loans in the process of having their Maturity Dates extended

Stated Principal Balance outstanding:
Weighted Average Extension Period:

Loans in the process of having their Maturity Dates further extended

Cutoff Principal Balance:
Weighted Average Extension Period:

Loans paid-off that did experience Maturity Date extensions

Cutoff Principal Balance:
Weighted Average Extension Period:

0.00

Number of Loans:

0.00

Number of Loans:

0.00

Loans paid-off that did not experience Maturity Date extensions

Number of Loans:
Cutoff Principal Balance:

0.00

Page 20 of 22

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

R-I

9ABSP686

R-II

9ABSP687

A-1

52108HYG3

Aaa

AAA

A-2

52108HYH1

Aaa

AAA

A-3

52108HYJ7

Aaa

AAA

A-4

52108HYK4

Aaa

AAA

52108HYL2

Aa1

AA+

52108HYM0

Aa2

52108HYN8

Aa3

AA-

52108HYP3

A+

52108HYQ1

52108HYR9

A-

52108HYT5

Baa1

BBB+

52108HYV0

Baa2

BBB

52108HYX6

Baa3

BBB-

52108HYZ1

Ba1

BB+

52108HZB3

Ba2

52108HZD9

Ba3

BB-

52108HZF4

B+

52108HZH0

52108HZK3

B-

52108HZM9

Page 21 of 22

NR - Designates that the class was not rated by the rating agency.

(1) Changed ratings provided on this report are based on information provided by the applicable rating agency via electronic transmission. It shall be
understood that this transmission will generally have been provided to LaSalle within 30 days of the payment date listed on this statement. Because ratings may have
changed during the 30 day window, or may not be being provided by the rating agency in an electronic format and therefore not being updated on
this report, LaSalle recommends that investors obtain current rating information directly from the rating agency.

LB-UBS Commercial Mortgage Trust

Payment Date:
Prior Payment:
Next Payment:
Record Date:

17-Dec-04
17-Dec-04

18-Nov-04

18-Jan-05

30-Nov-04

Commercial Mortgage Pass-Through Certificates

Series 2004-C1

ABN AMRO Acct: 721668.1

Rating Information

Class

CUSIP

Fitch

Moody's

S&P

Fitch

Moody's

S&P

Original Ratings

Rating Change/Change Date(1)

Statement Date:

X-CL

52108HZP2

Aaa

AAA

X-CP

52108HZR8

Aaa

AAA

X-ST

52108HZT4

Aaa

AAA

R-III

9ABSP688

9ABSP689

Page 22 of 22

NR - Designates that the class was not rated by the rating agency.

STRUCTURED ASSET SEC CORP II LB UBS COMM MORT TR 2004 C1 8-K