SEARS CREDIT ACCOUNT MASTER TRUSTIISERIES 1998-21999 ANNUAL STATEMENT
Pursuant to the terms of theletter issued by the Securities and ExchangeCommission dated June 30, 1995(granting relief to the Trust from certainreporting requirements of theSecurities Exchange Act of 1934, as amended),aggregated information regardingthe performance of Accounts and paymentsto Investor Certificateholdersin respect of the Due Periods related to thetwelve Distribution Dates whichoccurred in 1999 is set forth below.
1) The total amount of the distributionto InvestorCertificateholders during 1999,per $1,000 interest.
Class A                                                    $52.50
Class B                                                     $0.00
Class C                                                     $0.00
2) The amount of the distributionset forth in paragraph1 above in respect of intereston the InvestorCertificates, per $1,000 interest.
Class A                                                    $52.50
Class B                                                     $0.00
Class C                                                     $0.00
3) The amount of the distributionset forth in paragraph1 above in respect of principalon the InvestorCertificates, per $1,000 interest.
Class A                                                     $0.00
Class B                                                     $0.00
Class C                                                     $0.00
4) The aggregate amount of CollectionsofPrincipal Receivables processedduringthe related Due Periods.                                $6,716,265,214.67
5) The aggregate amount of CollectionsofFinance Charge Receivables processedduring the related Due Periods.                         $2,041,096,891.04
6) The aggregate amount of CollectionsofPrincipal Receivables processedduring therelated Due Periods which wereallocatedin respect of the Investor Certificates.                $4,897,515,881.54
7) The aggregate amount of CollectionsofFinance Charge Receivables processedduringthe related Due Periods whichwere allocatedin respect of the Investor Certificates.                $1,489,801,869.21
8) The aggregate amount of AdditionalAllocableAmounts processed during therelated DuePeriods which were allocatedin respect ofthe Investor Certificates.                                $167,070,362.83
9) The aggregate amount of CollectionsofPrincipal Receivables processedduring therelated Due Periods which wereallocatedin respect of the Seller Certificates.                  $1,818,749,333.13
10) The aggregate amount of CollectionsofFinance Charge Receivables processedduringthe related Due Periods whichwere allocatedin respect of the Seller Certificates.                    $551,295,021.84
11) The aggregate amount of AdditionalAllocableAmounts processed during therelated DuePeriods which were allocatedin respect ofthe Seller Certificates.                                           $0.00
12) The excess of the InvestorCharge-Off Amountover the sum of (i) paymentsin respect of theAvailable Subordinated Amountand (ii) ExcessServicing, if any (an "InvestorLoss"), per$1,000 interest.                                                   $0.00
13) The aggregate amount of InvestorLosses in theTrust as of the end of the dayon December 15,1999, per $1,000 interest.                                         $0.00
14) The total reimbursed to theTrust from the sumof the Available subordinatedAmount and ExcessServicing, if any, in respectof Investor Losses,per $1,000 interest.                                               $0.00
15) The amount of the InvestorMonthly Servicing Feepayable by the Trust to theServicer.                    $150,120,572.16
16) The Class A and Class B ControlledAmortizationAmount Shortfall, as of theend of the reportableyear.                                                              $0.00