EXHIBIT 99.1

THE BANK OF NEW YORK

Officers Certificate

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March 6, 2008

MERRILL LYNCH DEPOSITOR, INC. North
Tower, 7th Floor 4 World Financial Center New York, New York 10080

PREFERREDPLUS, PPLUS
TRUST AND INDEXPLUS CERTIFICATE

The undersigned, Joseph Panepinto,
Vice President of The Bank of New York, a New York corporation (the Trustee), hereby
certifies in such capacity that, based on his knowledge, the Trustee has complied, in all
material respects, with all conditions and covenants applicable to the Trustee under the
Standard Terms for Trust Agreements dated February 20,1998 between Merrill Lynch
Depositor, Inc. as depositor (the Depositor) and the Trustee, as successor to United
States Trust Company of New York, as trustee and securities intermediary (the Securities
Intermediary), in each case as amended by a series supplement between the Depositor, the
Trustee and the Securities Intermediary for each trust series listed in the attached
schedule with the exception of the items identified below:

| | With
respect to the Preferred Plus Trust Series ELP-1, CSF-1, LMG-2, and     PMC-1
transactions and the July trust distribution date, the disbursements     were not made on
the trust distribution date of July 16, 2007 but instead     was made on July 17, 2007.
|- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | With
respect to the Preferred Plus Trust Series VER-1 transaction and the     December trust
distribution date, the disbursement was not made on the     trust distribution date of
December 3, 2007 but instead was made on     December 5, 2007.
|- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | With
respect to the Public Steers Series 1999 REN-C1 transaction and the     March trust
distribution date, the disbursement was not made on the trust     distribution date of
March 1, 2007 but instead was made on March 8, 2007.
|- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | With
respect to the Public Steers Series 1998 TRV-C1 transaction and the     February trust
distribution date, the disbursement was not made on the     trust distribution date of
February 15, 2007 but instead  was made on February 20, 2007.
|- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Controls have been put in place and
procedures are currently being reinforced so that distributions are remitted to the
holders within the applicable time frames in accordance with the transaction documents.
In addition, the debt service system has been enhanced to help prevent a future
occurrence.

| | Very truly yours,                                                                                                 
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| |                                                                                                                   
| | THE BANK OF NEW YORK                                                                                              
| |                                                                                                                   
| | By: /s/ Joseph Panepinto                                                                                          
| | Name: Joseph Panepinto
                                                               
      Title: Vice President

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SCHEDULE

INDEXPLUS Trust Series 2003-1 
  PPLUS
Trust Series CMT-1 
  PPLUS Trust Series CSF-1 
  PPLUS Trust Series DCC-1 
  PPLUS Trust Series
DCNA-1 
  PPLUS Trust Series FMC-1 
  PPLUS Trust Series GSC-1 
  PPLUS Trust Series GSC-2 
  PPLUS
Trust Series GSC-3 
  PPLUS Trust Series GSG-1 
  PPLUS Trust Series GSG-2 
  PPLUS Trust Series
JPM-1 
  PPLUS Trust Series LMG-3 
  PPLUS Trust Series PMC-1 
  PPLUS Trust Series SPR-1 
  PPLUS
Trust Series TWC-1 
  PPLUS Trust Series VAL-1 
  PreferredPLUS Trust Series ALL-1

  PreferredPLUS Trust Series BLC-1 
  PreferredPLUS Trust Series BLC-2 
  PreferredPLUS Trust
Series BLS-1 
  PreferredPLUS Trust Series CCR-1 
  PreferredPLUS Trust Series CTR-1

  PreferredPLUS Trust Series CZN-1 
  PreferredPLUS Trust Series ELP-1 
  PreferredPLUS Trust
Series FAR-1 
  PreferredPLUS Trust Series FRD-1 
  PreferredPLUS Trust Series GEC-1

  PreferredPLUS Trust Series GRC-1 
  PreferredPLUS Trust Series LMG-1 
  PreferredPLUS Trust
Series LMG-2 
  PreferredPLUS Trust Series MSD-1 
  PreferredPLUS Trust Series NAI-1

  PreferredPLUS Trust Series QWS-1 
  PreferredPLUS Trust Series QWS-2 
  PreferredPLUS Trust
Series UPC-1 
  PreferredPLUS Trust Series VER-1 
  Public STEERS® Series 1998 HLT-1 Trust

  Public STEERS® Series 1998 TRV-C1 Trust 
  Public STEERS® Series 1999 REN-C1 Trust

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