EXHIBIT 99.1

                               DISTRIBUTION REPORT
                                       FOR
                    PUBLIC STEERS (R) SERIES 1998 HLT-1 TRUST

                                DISTRIBUTION DATE
                                OCTOBER 16, 2006

                         CLASS A CUSIP NUMBER 744593AK0
                         CLASS B CUSIP NUMBER 744593AL8

(i)      the amounts received by the Trustee as of the last such statement in
         respect of principal, interest and premium on the Hilton Hotels
         Corporation 7.95% Senior Notes due 2007 (the "Underlying Securities"):

                      Interest:                      $1,456,360.50
                      Principal:                              0.00
                      Premium:                                0.00

(ii)     the amounts of compensation received by the Trustee, for the period
         relating to such Distribution Date:

                      Paid by the Trust:                     $0.00
                      Paid by the Depositor:             $1,000.00

(iii)    the amount of distribution on such Distribution Date to Holders
         allocable to principal of and premium, if any, and interest on the
         Certificates of each such Class and the amount of aggregate unpaid
         interest accrued as of such Distribution Date:

               Class A:
                      Interest:                      $1,282,330.00
                      Principal:                             $0.00

               Class B:
                      Interest:                        $174,030.50
                      Principal:                              0.00

               Unpaid Interest Accrued:                       0.00


(iv)     the aggregate stated principal amount and, if applicable, notional
         amount of the Underlying Securities related to such Series, the current
         interest rate or rates thereon at the close of business on such
         Distribution Date, and the current rating assigned to the Certificates.

                      Principal Amount:                $36,638,000
                      Interest Rate:                         7.95%
                      Rating:
                            Moody's Investor Service                Ba2
                            Standard & Poor's Rating Service         BB



(v)      the aggregate Certificate Principal Balance (or Notional Amount, if
         applicable) of each Class of such Series at the close of business on
         such Distribution Date.

                    Class A: ($25 Stated Amount)
                    Initial Principal Balance:        $36,638,000.00
                    Reduction:                                    (0)
                                                      --------------
                    Principal Balance 10/16/06:       $36,638,000.00


                    Class B: ($25 Notional Amount)
                    Initial Principal Balance:        $36,638,000.00
                    Reduction:                                    (0)
                                                      --------------
                    Principal Balance 10/16/06:       $36,638,000.00