/C O R R E C T I O N -- Barrack Rodos & Bacine/ In the news release, Barrack Rodos & Bacine Commences Securities Fraud Class Action on Behalf of All Purchasers of Lehman ABS Corporate Backed Trust Certificates, Verizon New York Debenture-Backed Series 2004-1 Trust, issued Wednesday, June 9, by Barrack Rodos & Bacine over PR Newswire, we are advised by a representative of the company that the first paragraph, first sentence, should read "issued by Lehman ABS Corp. (NYSE: JZG)" rather than "Lehman ABS Corp. (NYSE: CCG)" as originally issued inadvertently. Complete, corrected release follows: PHILADELPHIA, June 9 /PRNewswire/ -- Barrack, Rodos & Bacine, today issued the following: A class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Corporate Backed Trust Certificates, Verizon New York Debenture-Backed Series 2004-1 ("Certificates") issued by Lehman ABS Corp. (NYSE:JZG) between January 5, 2004 and May 11, 2004, inclusive (the "Class Period"). The complaint charges defendants Lehman ABS Corp. ("LABS") and Lehman Brothers, Inc. with violations of the Securities Act of 1933 (the "Securities Act"). The complaint alleges that in January 2004, LABS created the Verizon New York Debenture-Backed Series 2004-1 Trust by depositing $150,144,000 of 7-3/8% Debentures, Series B, due 2032 issued by Verizon New York, Inc. ("Debenture") LABS had purchased on the open market. LABS subsequently deposited an additional $55,144,000 of Debentures into the Trust later in January 2004. Pursuant to a Registration Statement, Prospectus and Prospectus Supplement, the Trust issued and offered to the investing public, through LABS, 8,205,760 Certificates representing a proportionate undivided beneficial ownership interest in the Trust. The Certificates were sold for $25 per Certificate and paid a 6.20% interest rate. The Securities and Exchange Commission maintains rules governing sales of corporate debt backed trust certificates such as the Certificates that are the subject of this class action and only permits the sale of such certificates when the issuer of the underlying securities files certain periodic reports with the SEC. If the issuer of the underlying securities decides not to file those reports, any corporate backed trust relating to those securities must be liquidated. On May 7, 2004, LABS announced that Verizon New York, Inc. ("Verizon NY"), the issuer of the Debentures underlying the Certificates had elected to suspend the required reports and that the Trust must be terminated. This announcement triggered an event of default under the terms of the Trust, requiring the liquidation of the Trust assets. The price of the Certificates closed at $22 on May 11, 2004, the day that the Trustee announced that it would liquidate the Debentures and the last day of trading for the Certificates. The Complaint alleges that the Prospectus was materially false and misleading because it omitted to state material information that the defendants had an obligation to disclose, including the material fact that Verizon, the parent of Verizon NY, had previously elected to suspend filing periodic SEC reports for six of its domestic operating telephone subsidiaries in February 2003; that Verizon NY, one of 16 operating companies owned by Verizon that filed reports with the SEC; and that Verizon had established a plan in early 2003 to change its funding procedures, which plan included the possible deregistration of the public debt of its domestic operating telephone subsidiaries, including Verizon NY. The complaint seeks to recover damages on behalf of all persons who purchased, acquired and otherwise invested in the Certificates during the Class Period. Barrack, Rodos & Bacine has extensive experience in prosecuting investor class actions involving financial fraud. Barrack, Rodos & Bacine has prosecuted securities, antitrust and consumer class actions for more than 25 years. The firm has offices in Philadelphia, San Diego, New York and New Jersey and has been designated lead counsel by federal and state courts across the country in large, complex cases. For more information about Barrack, Rodos & Bacine, please visit their website at http://www.barrack.com/. If you are a member of the Class described above, you may, no later than August 2, 2004, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this case or your rights or interests, please contact Maxine Goldman, Shareholder Relations Manager, at Barrack, Rodos & Bacine, 3300 Two Commerce Square, 2001 Market Street, Philadelphia, PA 19103, 215-963-0600, fax number 215-963-0838 or by e-mail at . CONTACT: Barrack, Rodos & Bacine, Shareholder Relations Manager, 215-963-0600, or fax 215-963-0838, or e-mail, . DATASOURCE: Barrack, Rodos & Bacine CONTACT: Barrack, Rodos & Bacine, Shareholder Relations Manager, +1-215-963-0600, or fax: +1-215-963-0838, or Web site: http://www.barrack.com/

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