Summary of CABCO TRUST FOR J.C. PENNEY DEBENTURES

Item 8.01 Other Events.

This current report on Form 8-K relates to the semi-annual distribution reported to the holders of CABCO Trust for J.C. Penney Debentures (the "Trust") Trust Certificates (the "Certificates") relating to the J.C. Penney Company, Inc. 7 5/8 % Debentures due March 1, 2097 (the "JCP Debentures"), which was made on March 2, 2009.

The Trust was created by the Amended and Restated Trust Agreement, dated as of March 25, 1999, between Corporate Asset Backed Corporation, as the depositor (the "Depositor"), and The Bank of New York, as trustee (the "Trustee"), providing for the issuance of $52,650,000 aggregate certificate principal balance of Certificates. The Certificates do not represent obligations of or interests in the Depositor or the Trustee. The Certificates represent beneficial interests in the Trust. The Trust's assets consist primarily of $52,650,000 principal amount of the JCP Debentures. J.C. Penney Company, Inc. is subject to the informational requirements of the Securities Exchange Act of 1934, and in accordance with those requirements files periodic and current reports and other information (including financial information) with the Securities and Exchange Commission ("SEC") (File No. 001-00777). You may read and copy any reports, statements and other information filed by J.C. Penney Company, Inc. with the SEC (a) over the Internet at the SEC website at http://www.sec.gov containing reports, proxy statements and other information regarding registrants that file electronically with the SEC and (b) at the SEC's public reference room at 450 Fifth Street, N.W., Washington, D.C. 20549. You can also request copies of these documents upon payment of a copying fee, by writing to the SEC's public reference room at 450 Fifth Street, N.W., Washington, D.C. 20549. Please call the SEC at (800) SEC-0330 for further information on J.C. Penney Company, Inc. and please refer to these periodic and current reports filed with the SEC.