CORPORATE BOND BACKED CERT TR SER 1998-CAT 1
Item 1A.  Risk Factors. - ----------------------          Not Applicable
Item 2.  Properties. - -------------------          Not Applicable
Item 4.  Submission of Matters to a Vote of Security Holders. - -------------------------------------------------------------          None                                      PART II
The publicly offered Certificates representing investors' interest in the Trust are represented by one or more physical Certificates registered in the name of "Cede & Co.", the nominee of The Depository Trust Company. Those publicly offered Certificates are listed on the NYSE.
Item 7. Management's Discussion and Analysis of Financial Condition and - ----------------------------------------------------------------------- Results of Operation. - ---------------------           Not Applicable
Item 8. Financial Statements and Supplementary Data. - ----------------------------------------------------          Not Applicable
Item 9A. Controls and Procedures. - --------------------------------          Not Applicable
PART III
3
Item 12. Security Ownership of Certain Beneficial Owners and Management and - --------------------------------------------------------------------------- Related Stock Matters. - ----------------------          Not Applicable
Item 14.  Principal Accounting Fees and Services. - -------------------------------------------------          Not Applicable                                       PART IV
1.       Trustee's Distribution Statements documented on                            Form 8-K regarding the distributions from the Trust                            to the certificateholders for the period from                            January 1, 2005 through and including December 31,                            2005 have been filed with the Securities and                            Exchange Commission and are hereby incorporated by                            reference. Filing dates are listed below:     - ------------------------------------------------------------------------------------------------------------------                              Trust Description                              Distribution Date       Filed on - ------------------------------------------------------------------------------------------------------------------    Corporate Bond-Backed Certificates, Series 1998-CAT-1 Trust                     03/01/2005         03/03/2005                                                                                 09/01/2005         09/13/2005 - ------------------------------------------------------------------------------------------------------------------                      2. None.                    3. Exhibits:                             31.1 - Certification by Senior Vice President of                            the Registrant pursuant to 15 U.S.C. Section 7241,                            as adopted pursuant to Section 302 of the                            Sarbanes-Oxley Act of 2002.                             31.2 - Annual Compliance Report by Trustee pursuant                            to 15 U.S.C. Section 7241, as adopted pursuant to                            Section 302 of the Sarbanes-Oxley Act of 2002.           (b) See Item 15(a) above.           (c) Not Applicable                                         4                                       SIGNATURE           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 thereunto duly authorized.                                  Lehman ABS Corporation, as Depositor for the                                 Trust (the "Registrant")    Dated:   March 27, 2006        By:      /s/ CHARLES M. WEAVER                                    ---------------------------------                                         Name:  Charles M. Weaver                                         Title: Senior Vice President                                          5                                     EXHIBIT INDEX      - -------------------------------------------------------------------------------------------     Reference    Number per                  Description of Exhibits    Item 601 of                                                          Exhibit Number   Regulation SK                                                         in this Form 10-K - -------------------------------------------------------------------------------------------         (31.1)      Certification by Senior Vice President of the                31.1                  Registrant pursuant to 15 U.S.C. Section 7241, as                  adopted pursuant to Section 302 of the                  Sarbanes-Oxley Act of 2002. - -------------------------------------------------------------------------------------------      (31.2)      Annual Compliance Report by Trustee pursuant to 15                  U.S.C. Section 7241, as adopted pursuant to Section          31.2                  302 of the Sarbanes-Oxley Act of 2002. - -------------------------------------------------------------------------------------------                                           6      EX-31.1 2 efc6-0672_exhibit331.txt                                                                    Exhibit 31.1                                   CERTIFICATION  I, Charles M. Weaver, certify that:           1.       I have reviewed this annual report on Form 10-K in respect                   of the Corporate Bond-Backed Certificates, Series 1998-CAT-1                   Trust (the "Trust") and all reports on Form 8-K containing                   distribution or servicing reports of the Trust filed in                   respect of periods included in the year covered by this                   annual report of the Trust;           2.       Based on my knowledge, the information in these reports,                   taken as a whole, does not contain any untrue statement of a                   material fact or omit to state a material fact necessary to                   make the statements made, in light of the circumstances                   under which such statements were made, not misleading as of                   the last day of the period covered by this annual report;           3.       Based on my knowledge, the distribution or servicing                   information required to be provided to the Depositor by the                   Trustee under the pooling and servicing or similar                   agreement, for inclusion in these reports is included in                   these reports; and           4.       I am responsible for reviewing the activities performed by                   the Depositor and the Trustee under the pooling and                   servicing or similar agreement and based upon my knowledge                   and the annual compliance review required under that                   agreement, and except as disclosed in the reports, the                   Depositor and Trustee have each fulfilled its obligations                   under that agreement.  In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated party: The Bank of New York, as Trustee.    Date: March 27, 2006             /s/ Charles M. Weaver ________________________________________ Charles M. Weaver, Senior Vice President      EX-31.2 3 efc6-0672_exhibit332.txt                                                                     Exhibit 31.2                             ANNUAL COMPLIANCE REPORT  I, Pierre Boutros, being an officer of The Bank of New York, a New York Banking Corporation, the Trustee in respect of the Corporate Bond-Backed Certificates, Series 1998-CAT-1 Trust (the "Trust"), certify that:           1.       I have reviewed this annual report on Form 10-K in respect                   of the Trust and all reports on Form 8-K containing                   distribution or servicing reports of the Trust filed by                   Lehman ABS Corporation in respect of periods included in the                   year covered by this annual report of the Trust;           2.       Based on my knowledge, the information in those reports,                   taken as a whole, does not contain any untrue statement of a                   material fact or omit to state a material fact necessary to                   make the statements made, in light of the circumstances                   under which such statements were made, not misleading as of                   the last day of the period covered by this annual report;           3.       Based on my knowledge, the distribution information required                   to be provided to the Depositor or the certificateholders by                   the Trustee under the pooling and servicing or similar                   agreement for inclusion in such distribution reports is                   included in such reports; and           4.       I am responsible for reviewing the activities performed by                   the Trustee under the pooling and servicing or similar                   agreement and based on my knowledge, except as disclosed in                   such reports, the Trustee has fulfilled its obligations                   under that agreement.  Date: March 27, 2006             /s/ Pierre Boutros - ----------------------------------- Pierre Boutros, Assistant Treasurer      -----END PRIVACY-ENHANCED MESSAGE-----