Notice of CONDITIONAL FULL Redemption Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2...

Notice of CONDITIONAL FULL Redemption Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-7 Trust 685,000 $25 Par ($17,125,000 Certificate Principal Amount) Class A-1 Certificates Due February 15, 2034 CUSIP No. 21988K834* (NYSE: JBO) $92,000.00 Initial ($79,382.00 Current) Amortizing Notional Balance Class A-2 Certificates Due February 15, 2034 CUSIP No. 21988KAN7*

(Relating to 685,000 Class A-1 Call Warrants CUSIP No. 21988K396* and 92 Class A-2 Call Warrants CUSIP No. 21988K412*)

(Underlying Securities Are $17,125,000 Principal Amount 6.345% Capital Securities Due February 15, 2034 CUSIP 38143VAA7* Issued by Goldman Sachs Capital I)

NEW YORK, NY--(Marketwired - Jun 2, 2014) - NOTICE IS HEREBY GIVEN, pursuant to the terms of the Standard Terms for Trust Agreements dated as of January 16, 2001, between Lehman ABS Corporation, as Depositor, and U.S. Bank Trust National Association, as Trustee, as supplemented by the Series Supplement, Goldman Sachs Capital I Securities-Backed Series 2004-7, dated as of April 30, 2004 (the "Trust Agreement") in respect of the Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed Series 2004-7 Trust (the "Trust"), that certain Call Warrant Holders have exercised their rights to purchase the 885,000 total outstanding Class A-1 Corporate Backed Trust Certificates (NYSE: JBO) (the "Class A-1 Certificates") and the total outstanding $92,000.00 Initial ($79,382.00 Current) Amortizing Notional Balance Class A-2 Corporate Backed Trust Certificates (the "Class A-2 Certificates") (together, the "Certificates") on June 5, 2014 (the "Call Date" and "Redemption Date") each at the related Call Price, and effect an Optional Exchange for the $17,125,000.00 principal amount of the Underlying Securities held by the Trust.

THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE CALL PRICE WITH RESPECT TO SUCH EXERCISE ON THE REDEMPTION DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS WILL IN FACT BE EXERCISED ON JUNE 5, 2014.

If the Trustee receives the Call Price by 10:00 a.m. (New York City time) on the Redemption Date, then THE 685,000 Class A-1 Certificates and $92,000 Initial ($79,382.00 Current) Amortizing Notional Balance Class A-2 Certificates described above will be selected for redemption on the Redemption Date at a price of $25.00 principal plus $0.48125000 accrued interest to the Redemption Date per Class A-1 Certificate and $882.35782609 interest per $1,000 stated Initial Amortizing Notional Balance Class A-2 Certificate selected for redemption (the "Call Price"). The total payment of the Redemption Amount on the Certificates will be $17,535,833.17, consisting of $17,125,000.00 principal and $329,656.25 accrued interest on the Class A-1 Certificates and $81,176.92 interest on the $92,000 Initial ($79,382.00 Current) Amortizing Notional Balance Class A-2 Certificates selected for redemption (the "Redemption Amount"). The Class A-2 Certificates are interest-only Certificates and will not receive payment of principal, but the total outstanding Amortizing Notional Balance of Class A-2 Certificates will be reduced to zero by the redemption. No further interest or principal will accrue after the Redemption Date on the Certificates selected for redemption. After giving effect to the above redemption of Certificates and Call Warrants exercise, no Certificates or Call Warrants will remain outstanding and no Underlying Securities will remain held by the Trust.

If the Trustee does not receive the Call Price, then (i) the Certificates selected for redemption will continue to accrue interest as if no exercise notice had been given and (ii) these and other Warrant Holders may elect to deliver a conditional notice of exercise in the future.

This press release is being issued by U.S. Bank Trust National Association as trustee of the Trust. For more information about this conditional partial redemption, Holders with questions may contact Bondholder Services at [phone].

By U.S. Bank Trust National Association as Trustee

June 2, 2014

*U.S. Bank shall not be held responsible for the selection or the use of the CUSIP number, nor is any representation made as to its correctness indicated in the Redemption Notice. It is included solely for the convenience of the Holders.

U.S. Bank National Association Corporate Trust Services 100 Wall Street, 16th floor New York, NY 10005 [phone]