##### 



Exhibit 99.1 Volkswagen Auto Lease Trust 2004-A
MONTHLY SERVICER CERTIFICATE
For the collection period ended 7-1-2006
    
    
    
    PAGE 1
 A.
    
    DATES
    
    
    Begin
    
    
    End
    
    
    # days1
    
    Determination Date
    
    
    
    
    
    
    7/18/20062
    
    Payment Date
    
    
    
    
    
    
    7/20/20063
    
    Collection Period
    
    
    5/28/2006
    
    
    
    7/1/2006
    
    
    
    354
    
    Monthly Interest Period - Actual
    
    
    6/20/2006
    
    
    
    7/19/2006
    
    
    
    305
    
    Monthly Interest - Scheduled
    
    
    
    
    
    
    
    
    
    
    30
 B.
    
    SUMMARYInitial Balance
    
    
    Beginning Balance
    
    
    Principal Payment
    
    
    Ending Balance
    
    
    Note Factor6
    
    Class A-1 Notes
    
    
    321,000,000.00
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    7
    
    Class A-2 Notes
    
    
    437,000,000.00
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8
    
    Class A-3 Notes
    
    
    326,000,000.00
    
    
    
    147,611,576.37
    
    
    
    49,455,213.54
    
    
    
    98,156,362.83
    
    
    
    
    0.30109319
    
    Class A-4a Notes
    
    
    100,000,000.00
    
    
    
    100,000,000.00
    
    
    
    
    
    
    
    100,000,000.00
    
    
    
    
    1.00000009b
    
    Class A-4b Notes
    
    
    316,000,000.00
    
    
    
    316,000,000.00
    
    
    
    
    
    
    
    316,000,000.00
    
    
    
    
    1.000000010
    
    Certificates
    
    
    209,401,709.41
    
    
    
    209,401,709.41
    
    
    
    
    
    
    
    209,401,709.41
    
    
    
    
    1.000000011
    
    Equals: Total Securities
    
    $
    1,709,401,709.41
    
    
    $
    773,013,285.78
    
    
    
    $49,455,213.54
    
    
    
    $723,558,072.24Per $1000
    
    
    Principal & Interest
    
    
    
    Per $1000Coupon Rate
    
    
    Interest Pmt Due
    
    
    Face Amount
    
    
    Payment Due
    
    
    Face Amount12
    
    Class A-1 Notes
    
    
    1.9992
    %
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    13
    
    Class A-2 Notes
    
    
    2.4700
    %
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    14
    
    Class A-3 Notes
    
    
    2.8400
    %
    
    
    349,347.40
    
    
    
    2.3666667
    
    
    
    49,804,560.94
    
    
    
    337.402811915
    
    Class A-4a Notes
    
    
    3.0900
    %
    
    
    257,500.00
    
    
    
    2.5750000
    
    
    
    257,500.00
    
    
    
    2.575000015b
    
    Class A-4b Notes
    
    
    5.3669
    %
    
    
    1,413,278.40
    
    
    
    4.4724000
    
    
    
    1,413,278.40
    
    
    
    4.4724000Equals:  Total Securities
    
    
    
    
    
    
    2,020,125.80
    
    
    
    
    
    
    
    51,475,339.34
 C.
    
    COLLECTIONS AND AVAILABLE FUNDS16
    
    Lease Payments Received
    
    
    
    
    
    
    18,692,022.8217
    
    Sales Proceeds - Early Terminations
    
    
    
    
    
    
    17,997,369.7818
    
    Sales Proceeds - Scheduled Terminations
    
    
    
    
    
    
    16,716,678.7319
    
    Security Deposits for Terminated Accounts
    
    
    
    
    
    
    103,750.0020
    
    Excess Wear and Tear Received
    
    
    
    
    
    
    113,045.5321
    
    Excess Mileage Charges Received
    
    
    
    
    
    
    164.618.0522
    
    Other Recoveries Received
    
    
    
    
    
    
    1,075,420.8723
    
    Subtotal: Total Collections
    
    
    
    
    
    
    54,862,905.7824
    
    Repurchase Payments
    
    
    
    
    
    
    25
    
    Postmaturity Term Extension
    
    
    
    
    
    
    25e
    
    Net Swap Receipt - Class A-4b
    
    
    
    
    
    
    604,318.4026
    
    Investment Earnings on Collection Account
    
    
    
    
    
    
    217,483.4727
    
    Total Available Funds, prior to Servicer Advances
    
    
    
    
    
    
    55,684,707.6528
    
    Servicer Advance
    
    
    
    
    
    
    29
    
    Total Available Funds
    
    
    
    
    
    
    55,684,707.65


D.
    
    DISTRIBUTIONS30
    
    Payment Date Advance Reimbursement (Item 71)
    
    
    
    
    
    
    31
    
    Servicing Fee (Servicing and Administrative Fees paid pro rata):32
    
    Servicing Fee Shortfall from Prior Periods
    
    
    
    
    
    
    33
    
    Servicing Fee Due in Current Period
    
    
    
    
    
    
    644,177.7434
    
    Servicing Fee Shortfall
    
    
    
    
    
    
    
    
    
    
    
    35
    
    Administration Fee (Servicing and Administrative Fees paid pro rata):36
    
    Administration Fee Shortfall from Prior Periods
    
    
    
    
    
    
    37
    
    Administration Fee Due in Current Period
    
    
    
    
    
    
    5,000.0038
    
    Administration Fee Shortfall
    
    
    
    
    
    
    38e
    
    Net Swap Payment - Class A-4b
    
    
    
    
    
    
    38f
    
    Senior Swap Termination Payment (paid pro rata with Noteholder Interest payment)
    
    
    
    
    
    
    39
    
    Interest Paid to Noteholders (paid pro rata with Senior Swap Termination Payment)
    
    
    
    
    
    
    2,020,125.8040
    
    Subtotal: Remaining Available Funds
    
    
    53,015,404.1141
    
    Principal Distribution Amount      (Item 59)
    
    
    49,455,213.5442
    
    Principal Paid to Noteholders      (lesser of Item 40 and Item 41)
    
    
    
    
    
    
    49,455,213.5443
    
    Amount Paid to Reserve Account to Reach Specified Balance
    
    
    
    
    
    
    43b
    
    Subordinated Swap Termination Payments
    
    
    
    
    
    
    44
    
    Other Amounts paid to Trustees
    
    
    
    
    
    
    45
    
    Remaining Available Funds
    
    
    
    
    
    
    3,560,190.57






---



##### 



Volkswagen Auto Lease Trust 2004-A
MONTHLY SERVICER CERTIFICATE
For the collection period ended 7-1-2006
    
    
    
    PAGE 2
 E.
    
    CALCULATIONS46
    
    Calculation of Principal Distribution Amount:(Sum of)47
    
    a) Targeted Principal Distributable Amount:48
    
    For Current Units: Change in Securitization Value
    
    
    
    
    
    
    13,840,602.5549
    
    For Current Units: Change in Securitization Value for Advanced Payments
    
    
    
    
    
    
    50
    
    For All Terminated Units: Securitization Value (Beg. of Collection Period)
    
    
    
    
    
    
    35,614,610.9951
    
    For Repurchases: Securitization Value (Beg. Of Collection Period)
    
    
    
    
    
    
    52
    
    b) Principal Carryover Shortfall from Preceding Payment Date
    
    
    
    
    
    
    53
    
    c) Additional Amounts to pay in full Notes on or after Final Scheduled Payment Date
    
    
    
    
    
    
    54
    
    Principal Distribution Amount before Reserve Account Draw Amount
    
    
    
    
    
    
    49,455,213.5455
    
    Remaining Available Funds (Item 40)
    
    
    
    
    
    
    53,015,404.1156
    
    Available Funds Shortfall Amount (If Item 54 > 55, Item 54 less Item 55,else 0)
    
    
    
    
    
    
    57
    
    Reserve Account Draw Amount (If Item 56 is > 0, Lesser of the Reserve Account Balance and Item 56)
    
    
    
    
    
    
    58
    
    Principal Carryover Shortfall (If Item 56 > Item 57, Item 56 less Item 57, else 0)
    
    
    
    
    
    
    59
    
    Principal Distribution Amount (If Item 56 > 0, Item 57 plus Item 55, else Item 54)
    
    
    
    
    
    
    49,455,213.5460
    
    Calculation of Servicer Advance:61
    
    Available Funds, prior to Servicer Advances (Item 27)
    
    
    
    
    
    
    55,684,707.6562
    
    Less: Payment Date Advance Reimbursement (Item 71)
    
    
    
    
    
    
    63
    
    Less: Servicing Fees Paid (Items 32, 33 and 34)
    
    
    
    
    
    
    644,177.7464
    
    Less: Administration Fees Paid (Items 36, 37 and 38)
    
    
    
    
    
    
    5,000.0065
    
    Less: Interest Paid to Noteholders and Swap Counterparties (Items 38e, 38f, and 39)
    
    
    
    
    
    
    2,020,125.8066
    
    Less: Principal Paid to Noteholders (Item 42)
    
    
    
    
    
    
    49,455,213.5467
    
    Less: Amount Paid to Reserve Account to Reach Specified Balance (Item 43)
    
    
    
    
    
    
    68
    
    Less: Subordinated Swap Termination Payments (Item 43b)
    
    
    
    
    
    
    69
    
    Less: Other Amounts paid to Trustees (Item 44)
    
    
    
    
    
    
    70
    
    Equals: Remaining Available Funds before Servicer Advance (If < 0, Available Funds Shortfall)
    
    
    
    
    
    
    3,560,190.5771
    
    Monthly Lease Payments Due on Included Units but not received (N/A if Item 70 > 0)
    
    
    
    
    
    
    N/A72
    
    Servicer Advance (If Item 70 < 0, lesser of Item 70 and Item 71, else 0)
    
    
    
    
    
    
    73
    
    Reconciliation of Servicer Advance:74
    
    Beginning Balance of Servicer Advance
    
    
    
    
    
    
    75
    
    Payment Date Advance Reimbursement
    
    
    
    
    
    
    76
    
    Additional Payment Advances for current period
    
    
    
    
    
    
    77
    
    Ending Balance of Payment Advance
    
    
    
    
    
    
    
 F.
    
    RESERVE ACCOUNT78
    
    Reserve Account Balances:79
    
    Specified Reserve Account Balance
    
    
    
    
    
    
    51,282,051.2880
    
    Initial Reserve Account Balance
    
    
    
    
    
    
    17,094,017.0981
    
    Beginning Reserve Account Balance
    
    
    
    
    
    
    51,282,051.2882
    
    Plus:  Net Investment Income for the Collection Period
    
    
    
    
    
    
    208,401.2983
    
    Subtotal:  Reserve Fund Available for Distribution
    
    
    
    
    
    
    51,490,452.5784
    
    Plus:  Deposit of Excess Available Funds      (Item 43)
    
    
    
    
    
    
    85
    
    Less:  Reserve Account Draw Amount      (Item 57)
    
    
    
    
    
    
    86
    
    Subtotal Reserve Account Balance
    
    
    
    
    
    
    51,490,452.5787
    
    Less: Excess Reserve Account Funds to Transferor      (If Item 86 > Item 79)
    
    
    
    
    
    
    208,401.2988
    
    Equals: Ending Reserve Account Balance
    
    
    
    
    
    
    51,282,051.2889
    
    Change in Reserve Account Balance from Immediately Preceding Payment Date
    
    
    
    
    
    
    90
    
    Current Period Net Residual Losses:
    
    Units
    
    
    Amounts91
    
    Aggregate Securitization Value for Scheduled Terminated Units
    
    
    1,241
    
    
    
    17,455,118.8592a
    
    Less: Sales Proceeds for Current Month Scheduled Terminations
    
    
    
    
    
    
    (16,780,478.73
    )92b
    
    Less: Sales Proceeds/Recoveries for Prior Month Scheduled Terminations
    
    
    
    
    
    
    (978,920.79
    )93
    
    Less: Excess Wear and Tear Received
    
    
    
    
    
    
    (113,045.53
    )94
    
    Less: Excess Mileage Received
    
    
    
    
    
    
    (164,618.05
    )95
    
    Current Period Net Residual Losses/(Gains)
    
    
    1,241
    
    
    
    (581,944.25
    )96
    
    Cumulative Net Residual Losses:97
    
    Beginning Cumulative Net Residual Losses
    
    
    15,867
    
    
    
    1,923,915.1098
    
    Current Period Net Residual Losses      (Item 95)
    
    
    1,241
    
    
    
    (581,944.25
    )99
    
    Ending Cumulative Net Residual Losses
    
    
    17,108
    
    
    
    1,341,970.85100
    
    Cumulative Net Residual Losses/(Gains) as a % of Aggregate Initial Securitization Value
    
    
    
    
    
    
    0.08
    %




---



##### 



Volkswagen Auto Lease Trust 2004-A
MONTHLY SERVICER CERTIFICATE
For the collection period ended 7-1-2006
    
    
    
    PAGE 3
 
 G.
    
    POOL STATISTICS101
    
    Collateral Pool Balance Data
    
    
    
    
    
    Initial
    
    
    Current102
    
    Initial Aggregate Securitization Value
    
    
    
    
    
    
    1,709,401,709
    
    
    
    723,558,072103
    
    Number of Current Contracts
    
    
    
    
    
    
    85,972
    
    
    
    46,714104
    
    Weighted Average Lease Rate
    
    
    
    
    
    
    4.96
    %
    
    
    4.63
    %105
    
    Average Remaining Term
    
    
    
    
    
    
    28.67
    
    
    
    9.74106
    
    Average Original Term
    
    
    
    
    
    
    44.43
    
    
    
    45.75107
    
    Monthly Prepayment Speed
    
    
    
    
    
    
    
    
    
    
    99.85
    %Units
    
    
    Book Amount
    
    
    Securitization Value108
    
    Pool Balance - Beginning of Period
    
    
    49,234
    
    
    
    810,983,967
    
    
    
    773,013,286109
    
    Depreciation/Payments
    
    
    
    
    
    
    (13,060,485
    )
    
    
    (13,840,603
    )110
    
    Gross Credit Losses
    
    
    (35
    )
    
    
    (532,000
    )
    
    
    (579,542
    )111
    
    Early Terminations
    
    
    (1,244
    )
    
    
    (18,074,750
    )
    
    
    (17,579,950
    )112
    
    Scheduled Terminations
    
    
    (1,241
    )
    
    
    (18,335,804
    )
    
    
    (17,455,119
    )113
    
    Repurchase/Reallocation
    
    
    
    
    
    
    
    
    
    
    114
    
    Pool Balance - End of Period
    
    
    46,714
    
    
    
    760,980,928
    
    
    
    723,558,072115
    
    Delinquencies Aging Profile - End of Period
    
    Units
    
    
    Securitization Value
    
    
    Percentage116
    
    Current
    
    
    45,865
    
    
    
    711,119,365
    
    
    
    98.28
    %117
    
    31 - 90 Days Delinquent
    
    
    774
    
    
    
    11,267,769
    
    
    
    1.56
    %118
    
    90+ Days Delinquent
    
    
    75
    
    
    
    1,170,938
    
    
    
    0.16
    %119
    
    Total
    
    
    46,714
    
    
    
    723,558,072
    
    
    
    100.00
    %120
    
    Credit Losses:
    
    
    
    
    
    Units
    
    
    Amounts121
    
    Aggregate Securitization Value on charged-off units
    
    
    
    
    
    
    35
    
    
    
    579,542122
    
    Aggregate Liquidation Proceeds on charged-off units
    
    
    
    
    
    
    
    
    
    
    (391,879
    )123
    
    Recoveries on charged-off units
    
    
    
    
    
    
    
    
    
    
    (36,621
    )124
    
    Current Period Aggregate Net Credit Losses/(Gains)
    
    
    
    
    
    
    35
    
    
    
    151,042125
    
    Cumulative Net Credit Losses:126
    
    Beginning Cumulative Net Credit Losses
    
    
    
    
    
    
    1,041
    
    
    
    6,457,808127
    
    Current Period Net Credit Losses (Item 124)
    
    
    
    
    
    
    35
    
    
    
    151,042128
    
    Ending Cumulative Net Credit Losses
    
    
    
    
    
    
    1,076
    
    
    
    6,608,850129
    
    Cumulative Net Credit Losses/(Gains) as a % of Aggregate Initial Securitization Value
    
    0.39
    %




---



##### 



Volkswagen Auto Lease Trust 2004-A
MONTHLY SERVICER CERTIFICATE
For the collection period ended 7-1-2006
    
    
    
    PAGE 4
 SCHEDULED REDUCTION IN AGGREGATE SECURITIZATION VALUE
 ScheduledPayment Date
    
    Reduction(1)08/20/2006
    
    25,099,98909/20/2006
    
    32,791,37610/20/2006
    
    39,581,33611/20/2006
    
    40,586,26312/20/2006
    
    41,812,61201/20/2007
    
    44,872,13102/20/2007
    
    41,533,42503/20/2007
    
    39,132,95704/20/2007
    
    39,155,65505/20/2007
    
    36,922,36506/20/2007
    
    31,453,75207/20/2007
    
    30,090,46008/20/2007
    
    30,869,78809/20/2007
    
    29,651,94710/20/2007
    
    32,350,77711/20/2007
    
    39,153,45712/20/2007
    
    31,860,60501/20/2008
    
    24,338,39702/20/2008
    
    18,955,50903/20/2008
    
    6,645,31704/20/2008
    
    4,148,31005/20/2008
    
    7,137,94906/20/2008
    
    18,153,77907/20/2008
    
    14,436,64308/20/2008
    
    11,371,67909/20/2008
    
    8,098,86210/20/2008
    
    795,80611/20/2008
    
    643,23412/20/2008
    
    426,15101/20/2009
    
    512,49002/20/2009
    
    328,15403/20/2009
    
    84,31804/20/2009
    
    44,86605/20/2009
    
    50,73106/20/2009
    
    156,24207/20/2009
    
    107,55108/20/2009
    
    140,61009/20/2009
    
62,580Total:
    
    723,558,072
 (1)
    
    This column represents the monthly reduction in the Aggregate Securitization Value, assuming(a) each collection period is a calendar month rather than a fiscal month,(b) timely receipt of all monthly rental payments and sales proceeds,(c) no credit or residual losses and(d) no prepayments (including defaults, purchase option exercises  or other early lease terminations).Actual cash flows are likely to vary from these amounts.