Exhibit 99.1
Statement to Certificate Holders
To the holders of Core Investment Grade Bond Trust I Pass-Through Certificates,
Series 2002-1 (CUSIP: 00000XXX0) (the "Certificateholders"):
Reference is made to that certain Trust Agreement, dated as of November 20,
2002, among Core Bond Products LLC, as depositor, The Bank of New York, as
trustee (the "Trustee") and securities intermediary, and Banc of America
Securities LLC, as administrative agent (the "Trust Agreement") creating the
Core Investment Grade Bond Trust I. Capitalized terms used but not specifically
defined herein will retain the meanings ascribed to them in the Trust Agreement.
As of the Distribution Date occurring on May 30, 2004, the Trustee hereby
provides the following information with respect to the Underlying Notes:
% of Aggregate
Principal Principal
Issuer Coupon Amount Amount Maturity Date
------ ------ ------ ------ -------------
AMERICA GENERAL 4.411% $ 75,000,000.00 3.70% 11/30/2007
ARCHSTONE 4.861% $ 35,000,000.00 1.73% 11/30/2007
BANK OF AMERICA 3.761% $ 145,000,000.00 7.16% 11/30/2007
BOEING 4.761% $ 110,000,000.00 5.43% 11/30/2007
CARRAMERICA 5.261% $ 50,000,000.00 2.47% 11/30/2007
CATERPILLAR 3.751% $ 75,000,000.00 3.70% 11/30/2007
CENTEX 5.461% $ 35,000,000.00 1.73% 11/30/2007
CIT GROUP 5.761% $ 110,000,000.00 5.43% 11/30/2007
DOW CHEMICAL 5.161% $ 110,000,000.00 5.43% 11/30/2007
DUKE ENERGY 4.611% $ 110,000,000.00 5.43% 11/30/2007
ERP OPERATING 4.861% $ 50,000,000.00 2.47% 11/30/2007
FLEETBOSTON 4.391% $ 110,000,000.00 5.43% 11/30/2007
GENERAL XXXXX 3.901% $ 135,000,000.00 6.67% 11/30/2007
GMAC 6.311% $ 110,000,000.00 5.43% 11/30/2007
ILFC 5.491% $ 110,000,000.00 5.43% 11/30/2007
XX XXXXXX 4.471% $ 135,000,000.00 6.67% 11/30/2007
KIMCO REALTY 4.961% $ 35,000,000.00 1.73% 11/30/2007
MBNA 5.711% $ 100,000,000.00 4.94% 11/30/2007
OCCIDENTAL 4.101% $ 75,000,000.00 3.70% 11/30/2007
SLM CORP 3.821% $ 110,000,000.00 5.43% 11/30/2007
VALERO ENERGY 6.311% $ 50,000,000.00 2.47% 11/30/2007
VODAFONE 4.161% $ 150,000,000.00 7.41% 11/30/2007
- -------------- -----
$ 2,025,000,000.00 100.00%
The aggregate interest balance due and not paid on the Underlying Notes as
of the Distribution Date is $0.00.
Pursuant to Section 4.02(a) of the Trust Agreement, the Trustee hereby also
provides notice of the following with respect to the Distribution Date:
1. The amount of distributions to Certificateholders on the Distribution Date
allocable to the principal or interest portion of Available Funds, or the
amount of premiums, if any, payable to Certificateholders as a result of
the optional redemption of Underlying Notes, is as set forth below
(expressed as a Dollar amount per minimum denomination of Certificates):
Premium Amount
Total Amount Payable Distribution Amount Distribution Amount Payable as a Result of
to Certificateholders Allocable to Interest Allocable to Principal Optional Redemption
--------------------- --------------------- ---------------------- -------------------
$23.6367 $23.6367 $0.00 $0.00
2. At the close of business on the Distribution Date, the aggregate
Certificate Principal Balance was $2,025,000,000.00.
3. The amount received by the Trustee on the related Underlying Notes for the
applicable Underlying Note Accrual Period was $47,904,875.00.
4. The aggregate principal amount of the Underlying Notes as of the
Distribution Date was $2,025,000,000.00 The weighted average interest rate
per annum to the Underlying Notes for the next succeeding Underlying Note
Accrual Period, assuming no optional redemption of any Underlying Notes, is
4.731346%.
The Bank of New York, as Trustee
By: /s/ Xxxxxx Xxxxxx
-----------------------------
Name: Xxxxxx Xxxxxx
Title: Assistant Treasurer
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