|                              545      8th Avenue, Suite 402New      York, NY 10018Tel.      (212) 957-7385 17      Academy Street, Suite 1008Newark,      NJ 07102Tel.      (973) 824-5832 | Independent      Accountant’s Report  Synthetic      Fixed-Income Securities, Inc. (as Depositor)One      Wachovia Center301      South College Street, DC-7Charlotte,      NC 28288 U.S.      Bank Trust National Association (as Trustee)Corporate      Trust Department100      Wall StreetNew      York, NY 10005 Re:    STRATS      Trust      For J.P. Morgan Chase & Co. Securities, Series 2004-9 (the      “Trust”) Ladies      and Gentlemen: We      have examined assertions of Synthetic Fixed-Income Securities, Inc. (the      “Depositor”) and U.S. Bank National Association, (the “Trustee” and      Together with the Depositor, the “Management”) that the Depositor and the      Trustee have complied, in all material respects, with the provisions of      the Base Trust Agreement dated as of September 26, 2003, as supplemented      by a series supplement dated as of July 15, 2004 (together, the “Trust      Agreement”), in respect of the STRATS Trust For J.P. Morgan Chase &      Co. Securities, Series 2004-9 (the “Trust”), during the period covered by      the annual report on Form 10-K filed by the Depositor on behalf of the      Trust for the year ended December 31, 2008 (the “Annual      Report”).  Management is responsible for compliance with the      Trust Agreement. Our responsibility is to express an opinion on      Management’s assertions based on our examination. Our      examination was made in accordance with attestation standards established      by the American Institute of Certified Public Accountants and,      accordingly, included examining, on a test basis, evidence about the      Depositor’s and the Trustee’s compliance with the Trust Agreement and      performing such other procedures as considered necessary in the      circumstances.  We believe that our examination provides a      reasonable basis for our opinion. In      our opinion, the Depositor and the Trustee have complied, in all material      respects, with the Trust Agreement during the period covered by the Annual      Report and Management’s assertions with respect to such compliance are      fairly stated, in all material respects, for the year ended December 31,      2008.  /s/      Aston Bell, CPA New      York, New YorkMarch      19, 2009  |
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