Exhibit 31.2

ANNUAL COMPLIANCE REPORT

I, David J. Kolibachuk, being an officer of U.S.
Bank Trust National Association, the Trustee in respect of the Corporate Backed Trust Certificates, Goldman Sachs Capital I Securities-Backed 2004-7 Trust (the Trust), certify that:



| | 1. | I have reviewed this annual report on Form 10-K in respect of the Trust and all reports on Form 8-K containing distribution or servicing reports of the Trust filed by
Lehman ABS Corporation in respect of periods included in the year covered by this annual report of the Trust;
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | Based on my knowledge, the information in those 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;
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3. | Based on my knowledge, the distribution information required to be provided to the Depositor or the certificateholders by the Trustee under the pooling and servicing or
similar agreement for inclusion in such distribution reports is included in such reports;
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | I am responsible for reviewing the activities performed by the Trustee under the pooling and servicing or similar agreement and based on my knowledge, except as
disclosed in such reports, the Trustee has fulfilled its obligations under that agreement; and
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5. | The reports disclose all significant deficiencies, or which there were none, relating to the Trustees compliance 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 pooling and servicing, or similar,
agreement, that is included in these reports.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|                                   
|-----------------------------------
|Date: March 30, 2012               
|                                   
|/s/ David J. Kolibachuk            
|David J. Kolibachuk, Vice President