|   | 1. | I      have reviewed this annual report on Form 10-K in respect of the      STRATSSM      Trust For IBM Corporation Securities, Series 2004-7 (the “Trust”) and all      reports on Form 8-K containing distribution or servicing reports      filed in respect of periods included in the year covered by this annual      report of the Trust; |
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|   | 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; |
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|   | 3. | Based      on my knowledge, the distribution or servicing information required to be      provided to the Depositor by the Trustee under the trust agreement, for      inclusion in these reports is included in these  reports; |
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|   | 4. | I      am responsible for reviewing the activities performed by the Depositor and      the Trustee under the trust 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;and |
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|   | 5. | The      reports disclose all significant deficiencies relating to the compliance      by the Trustee and the Depositor with the minimum servicing or similar      standards based upon the report provided by an independent public      accountant, after conducting a review in compliance with the Uniform      Single Attestation Program for Mortgage Bankers or similar procedure, as      set forth in the trust agreement that is included in these      reports. |
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