Document:

SRI Receivables Master Trust
                               G-1
                                              Series 1999-1 Supplement
                                                     Exhibit 4.20

                                                   CONFORMED COPY
                    (including amendments as of December 9, 1999)

               SRI RECEIVABLES PURCHASE CO., INC.
                           Transferor

                    SPECIALTY RETAILERS, INC.
                            Servicer

                               and

                    BANKERS TRUST (DELAWARE)
                             Trustee
on behalf of the Series 1999-1 Certificateholders and the Insurer

                    SERIES 1999-1 SUPPLEMENT

                  Dated as of November 9, 1999
                               to
                   SECOND AMENDED AND RESTATED
                 POOLING AND SERVICING AGREEMENT

                  Dated as of November 1, 1999

               Class A Certificates, Series 1999-1

               Class B Certificates, Series 1999-1

                    $28,000,000 Floating Rate
               Class C Certificates, Series 1999-1

                    $18,375,000 Floating Rate
               Class D Certificates, Series 1999-1

                           $20,125,000
               Class E Certificates, Series 1999-1

                  SRI RECEIVABLES MASTER TRUST

                       TABLE OF CONTENTS

                                                             Page

SECTION 1.                                            Designation      1
SECTION 2.                                            Definitions      2
SECTION 3.                                     Reassignment Terms     31
SECTION 4.Delivery and Payment for the Series 1999-1 Certificates     32
SECTION 5.         Form of Delivery of Series 1999-1 Certificates     32
SECTION 6.                                Article IV of Agreement     35

          ARTICLE IVRIGHTS OF CERTIFICATEHOLDERS ANDALLOCATION
          AND APPLICATION OF COLLECTIONS

Section 4.4                          Rights of Certificateholders     35
Section 4.5                            Collections and Allocation     36
Section 4.6                     Determination of Monthly Interest     36
Section 4.7                    Determination of Principal Amounts     38
Section 4.8    Application of Funds on Deposit in the Collection
               Account for the Certificates                           40
Section 4.9                     Determination of Required Amounts     47
Section 4.10   Daily Applications of Excess Finance Charge
               Collections and Series Transferor Finance
               Charge Collections.                                    48
Section 4.11   Investor Charge-Offs; Reallocation of Principal
               Collections                                            49
Section 4.12    Payment of Certificate Interest and Other Amounts     53
Section 4.13                     Payment of Certificate Principal     54
Section 4.14                         Shared Principal Collections     56
Section 4.15                    Allocation of Adjustment Payments     56
Section 4.16                                       Spread Account     57
Section 4.17                                      Reserve Account     59
Section 4.18                                 Accumulation Account     61
Section 4.19                                           Defeasance     61
SECTION 7.                             Article V of the Agreement     62

                           ARTICLE V    DISTRIBUTIONS AND REPORTS
TO INVESTOR CERTIFICATEHOLDERS

Section 5.1                                         Distributions     62
Section 5.2                         Certificateholders' Statement     63
SECTION 8.                           Series 1999-1 Pay Out Events     65
SECTION 9.                            Article VI of the Agreement     66
Section 6.15                          Additional Invested Amounts     66
SECTION 10. Series 1999-1 Termination                                 68
SECTION 11. Periodic Finance Charges and Other Fees                   68
SECTION 12. Legends; Transfer and Exchange; Restrictions on
            Transfer of Series
            1999-1 Certificates; Tax Treatment                        69
SECTION 13. Additional Series 1999-1 Provisions                       77
SECTION 14. Ratification of Agreement                                 82
SECTION 15. Counterparts                                              82
SECTION 16. GOVERNING LAW                                             82
SECTION 17. The Trustee                                               82
SECTION 18. Instructions in Writing                                   82
SECTION 19.  Provision of Information to Certificateholders           83
SECTION 20.  Limitation of Liability                                  83
SECTION 21.  Insurer as Third Party Beneficiary                       83
SECTION 22.  Certain Matters Relating to the Policy and the
             Insurer                                                  83

EXHIBITS

EXHIBIT A           Form of Class E Certificate
EXHIBIT B           Form of Monthly Class D Certificateholders'
                    Statement
EXHIBIT C           Form of Monthly Certificateholders' Statement
EXHIBIT D           Form of Confirmation
EXHIBIT E           Form of Transfer Request
EXHIBIT F           Form of Investment Letter
EXHIBIT G      Form of Receipt Letter

     This  SERIES 1999-1 SUPPLEMENT, dated as of November 9, 1999
(this "Series Supplement"), by and among SRI RECEIVABLES PURCHASE
CO., INC., a corporation organized and existing under the laws of
the   State   of  Delaware,  as  Transferor  (the  "Transferor"),
SPECIALTY  RETAILERS, INC., a corporation organized and  existing
under  the  laws  of  Texas, as Servicer  (the  "Servicer"),  and
BANKERS  TRUST  (DELAWARE), a banking corporation  organized  and
existing  under  the  laws of the State of Delaware,  as  trustee
(together with its successors in trust thereunder as provided  in
the  Agreement referred to below, the "Trustee") under the Second
Amended and Restated Pooling and Servicing Agreement dated as  of
November  1,  1999 (the "Agreement"), among the  Transferor,  the
Servicer and the Trustee.

     Section  6.9 of the Agreement provides, among other  things,
that the Transferor and the Trustee may at any time and from time
to  time enter into a supplement to the Agreement for the purpose
of authorizing the issuance by the Trustee to the Transferor, for
execution  and redelivery to the Trustee for authentication,  one
or  more Series of Certificates.  This Series Supplement shall be
a  "Supplement"  as  defined  in and  for  the  purposes  of  the
Agreement.

     Section  4.16  of  each of the Amended and  Restated  Series
1993-1  Supplement  and  the Amended and Restated  Series  1995-1
Supplement,  each  dated  as of May 30, 1996,  to  the  Agreement
permits the Servicer, upon instruction from Transferor, to  cause
the  undivided interest in the Trust represented by  the  Trust's
Series 1993-1 Certificates and Series 1995-1 Certificates  to  be
conveyed to one or more Persons (who may be the holders of a  new
Series of Certificates issued by the Trust).

     Pursuant to this Series Supplement, the Transferor  and  the
Trustee  shall  create a new Series of Investor Certificates  and
shall specify the Principal Terms thereof and cause the undivided
interest  in  the Trust represented by the Trust's Series  1993-1
Certificates and Series 1995-1 Certificates to be conveyed to the
holders of the Series 1999-1 Certificates issued pursuant to this
Series Supplement.

     Pursuant to this Series Supplement, the Transferor  and  the
Trustee  shall  create a new Series of Investor Certificates  and
shall specify the Principal Terms thereof.

     SECTION 1.  Designation. There is hereby created a Series of
Investor Certificates to be issued from time to time pursuant  to
the Agreement and this Series Supplement to be known generally as
the "Series 1999-1 Certificates."  The Series 1999-1 Certificates
shall  be  issued  in  five Classes, which  shall  be  designated
generally  as  the  Class  A  Certificates,  Series  1999-1  (the
"Class  A Certificates"), the Class B Certificates, Series 1999-1
(the   "Class  B  Certificates"),  the  Floating  Rate  Class   C
Certificates,  Series  1999-1 (the "Class C  Certificates"),  the
Floating  Rate Class D Certificates, Series 1999-1 (the "Class  D
Certificates") and the Class E Certificates, Series  1999-1  (the
"Class   E  Certificates").   Transferor  hereby  instructs   the
Servicer,  and the Servicer hereby causes the undivided  interest
in   the   Trust   represented  by  the  Trust's  Series   1993-1
Certificates and Series 1995-1 Certificates to be conveyed to the
holders of the Series 1999-1 Certificates issued pursuant to this
Series   Supplement   and  evidenced  by  those   Series   1999-1
Certificates and to the Insurer, which shall have the rights  and
other incidents described herein.

     The  initial Class C Certificates, Class D Certificates  and
Class  E  Certificates  will be issued on  the  Closing  Date  in
initial  principal amounts equal to the Class C Initial  Invested
Amount, the initial Class D Initial Invested Amount and the Class
E  Initial  Invested Amount, respectively. The  initial  Class  A
Certificates and Class B Certificates are expected to  be  issued
on the Closing Date as Variable Funding Certificates with maximum
invested  amounts of $217,000,000 and $66,500,000,  respectively.
Supplemental terms relating to any Class A Certificates and Class
B  Certificates issued from time to time may be specified  in  an
Issuance Supplement (as defined below).

     The  Trustee may also issue additional Class A Certificates,
Class  B Certificates, Class C Certificates, Class D Certificates
and  Class  E Certificates from time to time pursuant to  Section
6.15.

     SECTION 2.  Definitions.  If any term or provision contained
herein  shall conflict with or be inconsistent with any provision
contained  in  the  Agreement, the terms and provisions  of  this
Series  Supplement shall govern with respect to the Series 1999-1
Certificates.   All  Article, Section  or  subsection  references
herein  shall  mean  Article,  Section  or  subsections  of   the
Agreement,  as amended or supplemented by this Series Supplement,
except  as otherwise provided herein.  All capitalized terms  not
otherwise  defined  herein are defined in  the  Agreement.   Each
capitalized term defined herein shall relate only to  the  Series
1999-1 Certificates and no other Series of Certificates issued by
the Trust.

     "Accumulation Account"  is defined in Section 4.18.

     "Accumulation  Account  Investment  Proceeds"   shall   mean
investment   earnings (net of investment losses and expenses)  on
funds on deposit in any Accumulation Account.

     "Accumulation Investment Shortfall" shall mean, with respect
to  each  Transfer Date relating to an Accumulation  Period,  the
amount,  if  any,  by  which the Accumulation Account  Investment
Proceeds for such Transfer Date are less than the Covered  Amount
determined as of such Transfer Date.

     "Accumulation Period" shall mean any period specified in any
Issuance Supplement in which deposits are required to be made  to
an  Accumulation Account to provide for payment of  principal  on
the  related Class A Certificates on the related Class A Expected
Final Payment Date.

     "Additional Class A Invested Amount" shall have the  meaning
specified in Section 6.15 of the Agreement.

     "Additional Class B Invested Amount" shall have the  meaning
specified in Section 6.15 of the Agreement.

     "Additional Class C Invested Amount" shall have the  meaning
specified in Section 6.15 of the Agreement.

     "Additional Class D Invested Amount" shall have the  meaning
specified in Section 6.15 of the Agreement.

     "Additional Class E Invested Amount" shall have the  meaning
specified in Section 6.15 of the Agreement.

     "Additional   Interest"  shall  mean,   at   any   time   of
determination,  the sum of Class A Additional Interest,  Class  B
Additional  Interest,  Class C Additional Interest  and  Class  D
Additional Interest.

     "Additional   Invested  Amount"  shall  have   the   meaning
specified in Section 6.15 of the Agreement.

     "Adjusted LIBOR" shall mean, for an Interest Accrual Period,
the  rate  obtained by dividing (x) LIBOR as of the related  Rate
Determination  Date by (y) a percentage equal to  one  minus  the
stated  maximum  rate  (stated as  a  decimal)  of  all  reserves
required  to be maintained against "Eurocurrency Liabilities"  as
specified  in  Regulation  D of the Board  of  Governors  of  the
Federal  Reserve  System  (or  against  any  other  category   of
liabilities  which includes deposits by reference  to  which  the
interest  rate  on  LIBOR  is  determined  or  any  category   of
extensions  of credit or other assets which includes loans  by  a
non-United States office of any bank to United States residents).

     "Agreement"  shall have the meaning specified in  the  first
paragraph of the recitals hereto.

     "Amortization  Period  Commencement  Date"  shall  mean  the
earliest  of  (i)  the last day of the June 2002 Monthly  Period,
(ii)  the  date  specified  in any Issuance  Supplement  for  the
beginning  of  any  amortization period  (other  than  a  Partial
Amortization  Period)  for the related Class  A  Certificates  or
Class B Certificates or any Accumulation Period and (iii) the Pay
Out Commencement Date.

     "Available  Principal Collections" shall  mean,  as  to  any
Monthly  Period,  an amount equal to (a) the aggregate  Principal
Collections  deposited  into the Principal  Account  during  such
Monthly  Period pursuant to Section 4.8(c), minus (b) the  amount
of Reallocated Principal Collections with respect to such Monthly
Period which pursuant to Section 4.11(b) are required to fund the
Monthly  Required  Amounts and are withdrawn from  the  Principal
Account for that purpose, plus (c) the amount of Available Series
1999-1   Finance   Charge  Collections,  Excess  Finance   Charge
Collections and Series Transferor Finance Charge Collections that
are  required  to  be treated as Available Principal  Collections
pursuant  to  Sections 4.8(a)(iv), (v), (vi), (vii),  (ix),  (x),
(xii),  (xiii), (xv) and (xvi) and Section 4.9(a) on any Business
Day falling in that Monthly Period, plus (d) the amount of Shared
Principal  Collections from other Series that  are  allocated  to
Series 1999-1 for such Monthly Period and funds released from the
Equalization  Account that are required to be treated  as  Shared
Principal Collections and are allocated to Series 1999-1 for such
Monthly Period.

     "Available  Reserve Account Amount" shall mean,  as  to  any
Transfer Date during any Accumulation Period, the lesser  of  (a)
the  amount on deposit in the Reserve Account on such date (after
taking  into  account any interest and earnings retained  in  the
Reserve  Account pursuant to Section 4.17(b) on  such  date,  but
before  giving effect to any deposit made or to be made  pursuant
to  Section 4.8(a)(xvii) to the Reserve Account on such date) and
(b) the Required Reserve Account Amount.

     "Available  Series 1999-1 Finance Charge Collections"  shall
mean,  for  any  Business  Day,  the  sum  of  (a)  the  Floating
Allocation Percentage of Finance Charge Collections available  in
the  Collection Account for the first time on that Business  Day,
(b)  investment earnings on amounts on deposit in  the  Principal
Account and (c) any Accumulation Account Investment Proceeds.

     "Available  Spread Account Amount" shall mean, with  respect
to  any  Distribution Date, an amount equal to the lesser of  (a)
the  amount  on  deposit  in  the Spread  Account  (exclusive  of
Investment  Earnings) on such date (before giving effect  to  any
deposit to, or withdrawal from, the Spread Account made or to  be
made  with  respect  to such date) and (b)  the  Required  Spread
Account Amount for such Distribution Date.

     "Base Rate" shall mean, for any Interest Accrual Period, the
sum of (i) the weighted average of the Class A Certificate Rates,
the  Class B Certificate Rates, the Class C Certificate Rate, the
Class  D  Certificate Rate and the Class E Certificate  Rate  for
that  Interest Accrual Period, plus (ii) the result  of  (a)  the
Facilities Costs (other than interest) which have accrued on  the
Class  A  VFCs  and  the Class B VFCs for that  Interest  Accrual
Period  plus  the  Insurance Premium for  that  Interest  Accrual
Period, divided by (b) the daily average Invested Amount for that
Interest  Accrual  Period  plus (iii) the  Series  Servicing  Fee
Percentage.

     "Book-Entry Register" shall mean the Certificate Register as
maintained in accordance with this Series Supplement with respect
to the Class C Certificates and the Class D Certificates.

     "Business  Day"  shall have the meaning  set  forth  in  the
Agreement;  provided  that (a) no day on  which  the  Insurer  is
closed  (as  notified to the Trustee by the Insurer) shall  be  a
Business  Day  and (b) as used in the definition of "LIBOR  Rate"
and  "Rate Determination Date," "Business Day" shall mean  a  day
for  dealings by and between banks in U.S. dollar deposits in the
London interbank eurodollar markets.

     "Carryover  Class  A  Carrying Costs"  shall  mean,  on  any
Business Day in a Monthly Period, (a) any Class A Carrying  Costs
with respect to any Distribution Date relating to a prior Monthly
Period  which have not previously been deposited in the  Interest
Funding  Account or paid on any previous Distribution Date,  plus
(b)  any  Class  A  Additional Interest, plus  (c)  any  Class  A
Additional Interest relating to a prior Monthly Period which  has
not previously been deposited in the Interest Funding Account  or
paid on any previous Distribution Date.

     "Carryover  Class  B  Carrying Costs"  shall  mean,  on  any
Business Day in a Monthly Period, (a) any Class B Carrying  Costs
with respect to any Distribution Date relating to a prior Monthly
Period  which  has not previously been deposited in the  Interest
Funding  Account or paid on any previous Distribution Date,  plus
(b)  any  Class  B  Additional Interest, plus  (c)  any  Class  B
Additional Interest relating to a prior Monthly Period which  has
not previously been deposited in the Interest Funding Account  or
paid on any previous Distribution Date.

     "Carryover Class C Interest" shall mean, on any Business Day
in a Monthly Period, (a) any Class C Interest with respect to any
Distribution  Date relating to a prior Monthly Period  which  has
not previously been deposited in the Interest Funding Account  or
paid  on  any  previous Distribution Date, plus (b) any  Class  C
Additional  Interest,  plus (c) any Class C  Additional  Interest
relating to a prior Monthly Period which has not previously  been
deposited in the Interest Funding Account or paid on any previous
Distribution Date.

     "Carryover Class D Interest" shall mean, on any Business Day
in a Monthly Period, (a) any Class D Interest with respect to any
Distribution  Date relating to a prior Monthly Period  which  has
not previously been deposited in the Interest Funding Account  or
paid  on  any  previous Distribution Date, plus (b) any  Class  D
Additional  Interest,  plus (c) any Class D  Additional  Interest
relating to a prior Monthly Period which has not previously  been
deposited in the Interest Funding Account or paid on any previous
Distribution Date.

     "Carryover Class E Interest" shall mean zero; provided that,
in  connection with the transfer of all or part of  the  Class  E
Certificates,  the  Transferor and the  Trustee  may  amend  this
definition without the consent of any Certificateholder  so  long
as  each Rating Agency confirms that doing so will not cause that
Rating Agency to downgrade or withdraw its rating on any Class of
the Series 1999-1 Certificates.

     "Class   A  Additional  Interest"  shall  have  the  meaning
specified in subsection 4.6(a).

     "Class  A Adjusted Invested Amount" shall mean the  Class  A
Invested  Amount  minus the principal amount on  deposit  in  any
Accumulation  Account;  provided,  that  the  "Class  A  Adjusted
Invested Amount" shall in no event be less than zero.

     "Class A Carrying Cost Rate" shall mean for any Class A VFCs
and  any Distribution Date, a rate per annum equal to the sum  of
Adjusted LIBOR for the related Interest Accrual Period plus 1.00%
plus  the  Class A Program Fee Rate (as defined in  the  Issuance
Supplement).

     "Class  A  Carrying Costs" shall mean, for any  Distribution
Date,  an  amount equal to the sum of the Class A  Interest,  any
other  Senior Facilities Costs with respect to the Class  A  VFCs
and  any  Carryover Class A Carrying Costs for that  Distribution
Date.

     "Class  A  Carrying Cost Shortfall" shall have  the  meaning
specified in subsection 4.6(a).

     "Class  A Carrying Cost Target" shall mean, for any Business
Day falling in any Monthly Period, an amount equal to the sum  of
the  following  amounts calculated with respect to  the  Class  A
Certificates:

          (a)  as  to  any Class A VFCs, the product of  (i)  the
     Class  A Carrying Cost Rate for the most recent Distribution
     Date,  (ii)  the  expected daily average  Class  A  Invested
     Amount  allocable  to those Class A VFCs  for  the  Interest
     Accrual Period relating to the Distribution Date relating to
     such  Monthly  Period and (iii) a fraction the numerator  of
     which  is the number of days in such Interest Accrual Period
     and the denominator of which is 360;

          (b)  as to any other Class A Certificates, (i) if  such
     Business Day falls prior to the Rate Determination Date  for
     the  related Distribution Date, an amount equal to  125%  of
     the  sum  of the Class A Interest and any Carryover Class  A
     Interest  on those Class A Certificates for the Distribution
     Date  relating to the prior Monthly Period and (ii) if  such
     Business  Day falls on or after the Rate Determination  Date
     for  the related Distribution Date, an amount equal  to  the
     sum  of  the  Class  A Interest and any  Carryover  Class  A
     Interest on those Class A Certificates for that Distribution
     Date.

     "Class  A Certificateholder" shall mean any Person in  whose
name  a  Class  A  Certificate is registered in  the  Certificate
Register.

     "Class  A  Certificate  Rate" shall mean,  for  all  or  any
portion  of  the Class A Certificates outstanding  from  time  to
time, the rate set forth in the applicable Issuance Supplement.

     "Class  A  Certificates" shall mean any of the  certificates
from time to time executed by the Transferor and authenticated by
or  on  behalf of the Trustee, as part of Series 1999-1 that  are
designated  as  Class  A  Certificates in  the  related  Issuance
Supplement, and shall include Class A VFCs.

     "Class A Expected Final Payment Date" shall, with respect to
the  Class  A Certificates or any portion thereof, be defined  in
the  applicable Issuance Supplement, but shall not be later  than
the Class A/B VFC Expected Final Payment Date.

     "Class  A Fixed Allocation Percentage" shall mean,  for  any
Business  Day  following  the Revolving  Period,  the  percentage
equivalent of a fraction, the numerator of which is the  Class  A
Invested  Amount  at  the end of the last day  of  the  Revolving
Period and the denominator of which is the greater of (a) the sum
of the aggregate amount of Principal Receivables in the Trust and
the  amount on deposit in the Equalization Account at the end  of
the  last  day  of the Revolving Period and (b) the  sum  of  the
numerators  used  to  calculate the allocation  percentages  with
respect to Principal Collections for all Classes of all Series on
such  Business Day; provided that if Series 1999-1 is paired with
a  Paired Series and a pay out event occurs with respect to  such
Paired  Series  during  the  Scheduled Amortization  Period,  the
Transferor  may, by written notice delivered to the  Trustee  and
the Servicer, designate a different numerator (provided that such
numerator is not less than the Class A Invested Amount (less  the
balance  on deposit in any Accumulation Account and the Principal
Account  that  is  not  subject to being treated  as  Reallocated
Principal Collections or Shared Principal Collections) as of  the
last  day  of  the revolving period for such Paired  Series).   A
Class  A Fixed Allocation Percentage (as defined in an applicable
Issuance Supplement) may also apply during a Partial Amortization
Period   to  the  extent  provided  in  the  applicable  Issuance
Supplement.

     "Class A Floating Allocation Percentage" shall mean, for any
Monthly  Period,  the percentage equivalent of  a  fraction,  the
numerator of which is the Class A Invested Amount (or, during  an
Accumulation Period, the Class A Adjusted Invested Amount) at the
end  of the previous Monthly Period and the denominator of  which
is  the  greater  of  (a)  the sum of  the  amount  of  Principal
Receivables  in  the  Trust and the amounts  on  deposit  in  the
Equalization  Account and (b) the sum of the numerators  used  to
calculate  the allocation percentages with respect  to  Principal
Collections,  Finance  Charge  Collections,  Default  Amounts  or
Uncovered Dilution Amounts, as applicable, for all Classes of all
Series,  in  the  case  of  each of clause  (a)  and  clause  (b)
determined  as  of  the  end of the most recent  Monthly  Period;
provided,  that  if one or more Reset Dates occur  in  a  Monthly
Period,  the  Class  A  Floating Allocation  Percentage  for  the
portion of the Monthly Period falling after each such Reset  Date
(the  "subject  Reset Date") and prior to or  on  any  subsequent
Reset  Date will be determined using a denominator equal  to  the
greater  of  the amounts specified in clauses (a) and  (b)  above
determined as of the close of business on the subject Reset Date.

     "Class  A  Initial Invested Amount" shall mean the aggregate
initial principal amount of the Class A Certificates, which  will
be  specified in the Issuance Supplement for the initial Class  A
Certificates.

     "Class  A  Interest"  shall have the  meaning  specified  in
subsection 4.6(a).

     "Class A Invested Amount" shall mean, for any Business  Day,
an  amount equal to (a) the Class A Initial Invested Amount, plus
(b)  the  initial  principal amount of  any  Additional  Class  A
Invested Amounts issued through the end of the preceding Business
Day  pursuant to Section 6.15, minus (c) the aggregate amount  of
principal  payments made to Class A Certificateholders  prior  to
such  Business  Day, minus (d) the aggregate amount  of  Class  A
Investor  Charge-Offs for all prior Business Days, plus  (e)  the
aggregate  amount  allocated with respect  to  Class  A  Investor
Charge-Offs and available on all prior Business Days pursuant  to
subsection  4.8(a)(v),  for the purpose  of  reinstating  amounts
reduced pursuant to the foregoing clause (d).

     "Class  A  Investor Charge-Offs" shall mean, on any Business
Day,  any  reduction in the Class A Invested Amount made pursuant
to Section 4.11(a).

     "Class  A  Investor  Default Amount"  shall  mean,  for  any
Business Day falling in a Monthly Period, the product of (a)  the
Default Amount for such Business Day and (b) the Class A Floating
Allocation Percentage for such Monthly Period.

     "Class  A  Principal" shall mean the principal distributable
in   respect  of  the  Class  A  Certificates  as  calculated  in
accordance with subsection 4.7(a).

     "Class  A Reduction Amount" shall have the meaning specified
in subsection 4.11(a).

     "Class  A  Servicing  Fee  Share"  shall  have  the  meaning
specified in subsection 4.9(b).

     "Class  A  Uncovered Dilution Amount" shall  mean,  for  any
Business Day falling in a Monthly Period, an amount equal to  the
product of (a) the Uncovered Dilution Amount for such day and (b)
the  Class  A  Floating Allocation Percentage  for  such  Monthly
Period.

     "Class A VFCs" shall mean any Class A Certificates that  may
from  time  to time be issued as part of Series 1999-1  that  are
Variable Funding Certificates.

     "Class  A/B VFC Expected Final Payment Date" shall mean  the
August 2002 Distribution Date.

     "Class   B  Additional  Interest"  shall  have  the  meaning
specified in subsection 4.6(b).

     "Class B Carrying Cost Rate" shall mean for any Class B VFCs
and  any Distribution Date, a rate per annum equal to the sum  of
Adjusted LIBOR for the related Interest Accrual Period plus 1.00%
plus  the  Class B Program Fee Rate (as defined in  the  Issuance
Supplement).

     "Class  B  Carrying Costs" shall mean, for any  Distribution
Date,  an  amount equal to the sum of the Class B  Interest,  any
other  Senior Facilities Costs with respect to the Class  B  VFCs
and  any  Carryover Class B Carrying Costs for that  Distribution
Date.

     "Class  B  Carrying Cost Shortfall" shall have  the  meaning
specified in subsection 4.6(b).

     "Class  B Carrying Cost Target" shall mean, for any Business
Day falling in any Monthly Period, an amount equal to the sum  of
the  following  amounts calculated with respect to  the  Class  B
Certificates:

          (a)  as  to  any Class B VFCs, the product of  (i)  the
     Class  B Carrying Cost Rate for the most recent Distribution
     Date,  (ii)  the  expected daily average  Class  B  Invested
     Amount  allocable  to those Class B VFCs  for  the  Interest
     Accrual Period relating to the Distribution Date relating to
     such  Monthly  Period and (iii) a fraction the numerator  of
     which  is the number of days in such Interest Accrual Period
     and the denominator of which is 360;

          (b)  as to any other Class B Certificates, (i) if  such
     Business Day falls prior to the Rate Determination Date  for
     the  related Distribution Date, an amount equal to  125%  of
     the  sum  of the Class B Interest and any Carryover Class  B
     Interest  on those Class B Certificates for the Distribution
     Date  relating to the prior Monthly Period and (ii) if  such
     Business  Day falls on or after the Rate Determination  Date
     for  the related Distribution Date, an amount equal  to  the
     sum  of  the  Class  B Interest and any  Carryover  Class  B
     Interest on those Class B Certificates for that Distribution
     Date.

     "Class  B Certificateholder" shall mean any Person in  whose
name  a  Class  B  Certificate is registered in  the  Certificate
Register.

     "Class  B  Certificate  Rate" shall mean,  for  all  or  any
portion  of  the Class B Certificates outstanding  from  time  to
time, the rate set forth in the applicable Issuance Supplement.

     "Class  B  Certificates" shall mean any of the  certificates
from time to time executed by the Transferor and authenticated by
or  on  behalf of the Trustee, as part of Series 1999-1 that  are
designated  as  Class  B  Certificates in  the  related  Issuance
Supplement, and shall include Class B VFCs.

     "Class B Expected Final Payment Date" shall, with respect to
the  Class  B Certificates or any portion thereof, be defined  in
the  applicable Issuance Supplement, but shall not be later  than
the Class A/B VFC Expected Final Payment Date.

     "Class  B Fixed Allocation Percentage" shall mean,  for  any
Business  Day  following  the Revolving  Period,  the  percentage
equivalent of a fraction, the numerator of which is the  Class  B
Invested  Amount  at  the end of the last day  of  the  Revolving
Period and the denominator of which is the greater of (a) the sum
of the aggregate amount of Principal Receivables in the Trust and
the  amount on deposit in the Equalization Account at the end  of
the  last  day  of the Revolving Period and (b) the  sum  of  the
numerators  used  to  calculate the allocation  percentages  with
respect to Principal Collections for all Classes of all Series on
such  Business Day; provided that if Series 1999-1 is paired with
a  Paired Series and a pay out event occurs with respect to  such
Paired  Series  during  the  Scheduled Amortization  Period,  the
Transferor  may, by written notice delivered to the  Trustee  and
the Servicer, designate a different numerator (provided that such
numerator is not less than the Class B Invested Amount (less,  if
the  Class A Fixed Allocation Percentage is zero, the balance  on
deposit  in  the Principal Account that is not subject  to  being
treated  as Reallocated Principal Collections or Shared Principal
Collections, to the extent not subtracted in reducing the Class A
Fixed  Allocation Percentage to zero) as of the last day  of  the
revolving  period  for  such Paired Series).   A  Class  B  Fixed
Allocation  Percentage  (as  defined in  an  applicable  Issuance
Supplement)  may also apply during a Partial Amortization  Period
to the extent provided in the applicable Issuance Supplement.

     "Class B Floating Allocation Percentage" shall mean, for any
Monthly  Period,  the percentage equivalent of  a  fraction,  the
numerator of which is the Class B Invested Amount at the  end  of
the  previous Monthly Period and the denominator of which is  the
greater of (a) the sum of the amount of Principal Receivables  in
the  Trust and the amounts on deposit in the Equalization Account
and  (b)  the  sum  of  the  numerators  used  to  calculate  the
allocation  percentages  with respect to  Principal  Collections,
Finance Charge Collections, Default Amounts or Uncovered Dilution
Amounts,  as  applicable, for all Classes of all Series,  in  the
case  of each of clause (a) and clause (b), determined as of  the
end  of the most recent Monthly Period; provided, that if one  or
more  Reset Dates occur in a Monthly Period, the Class B Floating
Allocation  Percentage  for the portion  of  the  Monthly  Period
falling after each such Reset Date (the "subject Reset Date") and
prior to or on any subsequent Reset Date will be determined using
a  denominator equal to the greater of the amounts  specified  in
clauses  (a) and (b) above determined as of the close of business
on the subject Reset Date.

     "Class  B  Initial Invested Amount" shall mean the aggregate
initial principal amount of the Class B Certificates, which  will
be  specified in the Issuance Supplement for the initial Class  B
Certificates.

     "Class  B  Interest"  shall have the  meaning  specified  in
subsection 4.6(b).

     "Class B Invested Amount" shall mean, for any Business  Day,
an  amount equal to (a) the Class B Initial Invested Amount, plus
(b)  the  initial  principal amount of  any  Additional  Class  B
Invested Amounts issued through the end of the preceding Business
Day  pursuant to Section 6.15, minus (c) the aggregate amount  of
principal  payments made to Class B Certificateholders  prior  to
such  Business  Day, minus (d) the aggregate amount  of  Class  B
Investor  Charge-Offs for all prior Business Days, plus  (e)  the
aggregate  amount  allocated with respect  to  Class  B  Investor
Charge-Offs and available on all prior Business Days pursuant  to
subsection  4.8(a)(vii)  for the purpose of  reinstating  amounts
reduced pursuant to the foregoing clause (d).

     "Class  B  Investor Charge-Offs" shall mean, on any Business
Day,  any  reduction in the Class B Invested Amount made pursuant
to Section 4.11.

     "Class  B  Investor  Default Amount"  shall  mean,  for  any
Business Day falling in a Monthly Period, the product of (a)  the
Default Amount for such Business Day and (b) the Class B Floating
Allocation Percentage for such Monthly Period.

     "Class  B  Principal" shall mean the principal distributable
in   respect  of  the  Class  B  Certificates  as  calculated  in
accordance with subsection 4.7(b).

     "Class  B  Principal Payment Commencement Date" shall  mean,
for  all  or any portion of the Class B Certificates, the earlier
of  (a)  the date specified in the applicable Issuance Supplement
and  (b) the Distribution Date following a sale or repurchase  of
the  Receivables  as set forth in Section 2.4(e),  9.2,  10.2(a),
12.1  or  12.2  of  the Agreement and Section 3  of  this  Series
Supplement.

     "Class  B Reduction Amount" shall have the meaning specified
in subsection 4.11(a).

     "Class  B  Servicing  Fee  Share"  shall  have  the  meaning
specified in subsection 4.9(c).

     "Class  B  Uncovered Dilution Amount" shall  mean,  for  any
Business Day falling in a Monthly Period, an amount equal to  the
product  of  (a) the Uncovered Dilution Amount for such  day  and
(b)the  Class  B Floating Allocation Percentage for such  Monthly
Period.

     "Class B VFCs" shall mean any Class B Certificates that  may
from  time  to time be issued as part of Series 1999-1  that  are
Variable Funding Certificates.

     "Class   C  Additional  Interest"  shall  have  the  meaning
specified in subsection 4.6(c).

     "Class  C  Certificate Assignment" shall  have  the  meaning
specified in Section 12(h).

     "Class  C Certificateholder" shall mean any Person in  whose
name  a  Class  C  Certificate is registered in  the  Certificate
Register.

     "Class  C Certificate Rate" shall mean, with respect to  the
Class  C  Certificates, 8.40375% per annum with  respect  to  the
initial  Interest  Accrual  Period  and,  with  respect  to  each
subsequent Interest Accrual Period a per annum rate of  3.00%  in
excess  of  LIBOR  prevailing on the related  Rate  Determination
Date;  provided however that, notwithstanding anything herein  to
the  contrary (including Section 13.1 of the Agreement), upon the
written   agreement   of  the  Transferor   and   the   Class   C
Certificateholders, the Class C Certificate Rate may  be  reduced
without further action.

     "Class  C  Certificates" shall mean  any  of  the  class  of
certificates with that designation issued pursuant to this Series
Supplement.

     "Class  C  Expected  Final  Payment  Date"  shall  mean  the
September 2002 Distribution Date.

     "Class  C Fixed Allocation Percentage" shall mean,  for  any
Business  Day  following  the Revolving  Period,  the  percentage
equivalent of a fraction, the numerator of which is the  Class  C
Invested  Amount  at  the end of the last day  of  the  Revolving
Period and the denominator of which is the greater of (a) the sum
of the aggregate amount of Principal Receivables in the Trust and
the  amount on deposit in the Equalization Account at the end  of
the  last  day  of the Revolving Period and (b) the  sum  of  the
numerators  used  to  calculate the allocation  percentages  with
respect to Principal Collections for all Classes of all Series on
such  Business Day; provided that if Series 1999-1 is paired with
a  Paired Series and a pay out event occurs with respect to  such
Paired  Series  during  the  Scheduled Amortization  Period,  the
Transferor  may, by written notice delivered to the  Trustee  and
the Servicer, designate a different numerator (provided that such
numerator is not less than the Class C Invested Amount (less,  if
the  Class B Fixed Allocation Percentage is zero, the balance  on
deposit  in  the Principal Account that is not subject  to  being
treated  as Reallocated Principal Collections or Shared Principal
Collections, to the extent not subtracted in reducing the Class B
Fixed  Allocation  Percentage or the  Class  A  Fixed  Allocation
Percentage  to  zero) as of the last day of the revolving  period
for  such  Paired Series).  A Class C Fixed Allocation Percentage
(as  defined in an applicable Issuance Supplement) may also apply
during  a  Partial Amortization Period to the extent provided  in
the applicable Issuance Supplement.

     "Class C Floating Allocation Percentage" shall mean, for any
Monthly  Period,  the percentage equivalent of  a  fraction,  the
numerator of which is the Class C Invested Amount at the  end  of
the  previous Monthly Period and the denominator of which is  the
greater of (a) the sum of the amount of Principal Receivables  in
the  Trust and the amounts on deposit in the Equalization Account
and  (b)  the  sum  of  the  numerators  used  to  calculate  the
allocation  percentages  with respect to  Principal  Collections,
Finance Charge Collections, Default Amounts or Uncovered Dilution
Amounts,  as  applicable, for all Classes of all Series,  in  the
case  of each of clause (a) and clause (b), determined as of  the
end  of the most recent Monthly Period; provided, that if one  or
more  Reset Dates occur in a Monthly Period, the Class C Floating
Allocation  Percentage  for the portion  of  the  Monthly  Period
falling after each such Reset Date (the "subject Reset Date") and
prior to or on any subsequent Reset Date will be determined using
a  denominator equal to the greater of the amounts  specified  in
clauses  (a) and (b) above determined as of the close of business
on the subject Reset Date.

     "Class  C  Initial Invested Amount" shall mean the aggregate
initial  principal amount of the Class C Certificates,  which  is
$28,000,000.

     "Class  C  Interest"  shall have the  meaning  specified  in
subsection 4.6(c).

     "Class   C  Interest  Shortfall"  shall  have  the   meaning
specified in subsection 4.6(c).

     "Class C Invested Amount" shall mean, for any Business  Day,
an  amount equal to (a) the Class C Initial Invested Amount, plus
(b)  the  initial  principal amount of  any  Additional  Class  C
Invested Amounts issued through the end of the preceding Business
Day  pursuant to Section 6.15, minus (c) the aggregate amount  of
principal  payments made to Class C Certificateholders  prior  to
such  Business  Day, minus (d) the aggregate amount  of  Class  C
Investor  Charge-Offs  for  all prior  Business  Days,  and  plus
(e)  the  aggregate  amount allocated with  respect  to  Class  C
Investor  Charge-Offs and available on all  prior  Business  Days
pursuant  to subsection 4.8(a)(x), for the purpose of reinstating
amounts reduced pursuant to the foregoing clause (d).

     "Class  C  Investor Charge-Offs" shall mean, on any Business
Day,  any  reduction in the Class C Invested Amount made pursuant
to Section 4.11.

     "Class  C  Investor  Default Amount"  shall  mean,  for  any
Business Day falling in a Monthly Period, the product of (a)  the
Default Amount for such Business Day and (b) the Class C Floating
Allocation Percentage for such Monthly Period.

     "Class  C  Principal" shall mean the principal distributable
in   respect  of  the  Class  C  Certificates  as  calculated  in
accordance with subsection 4.7(c).

     "Class C Principal Payment Commencement Date" shall mean the
earliest   of   (a)  the  Distribution  Date  in  the   Scheduled
Amortization Period after the one on which the Class  B  Invested
Amount  is  paid in full, (b) the Distribution Date  in  a  Rapid
Amortization Period on which the Class B Invested Amount is  paid
in  full  or, if there are no Principal Collections allocable  to
the  Series 1999-1 Investor Certificates remaining after payments
have  been  made to the Class B Certificates on such Distribution
Date,  the Distribution Date following the Distribution  Date  on
which  the  Class B Invested Amount is paid in full and  (c)  the
Distribution  Date  following  a  sale  or  repurchase   of   the
Receivables  as set forth in Sections 2.4(e), 9.2, 10.2(a),  12.1
or 12.2 of the Agreement and Section 3 of this Series Supplement.

     "Class  C Reduction Amount" shall have the meaning specified
in subsection 4.11(a).

     "Class  C  Servicing  Fee  Share"  shall  have  the  meaning
specified in subsection 4.9(d).

     "Class  C  Uncovered Dilution Amount" shall  mean,  for  any
Business Day falling in a Monthly Period, an amount equal to  the
product of (a) the Uncovered Dilution Amount for such day and (b)
the  Class  C  Floating Allocation Percentage  for  such  Monthly
Period.

     "Class   D  Additional  Interest"  shall  have  the  meaning
specified in subsection 4.6(d).

     "Class  D  Certificate Assignment" shall  have  the  meaning
specified in Section 12(h).

     "Class  D Certificateholder" shall mean any Person in  whose
name  a  Class  D  Certificate is registered in  the  Certificate
Register.

     "Class  D Certificate Rate" shall mean, with respect to  the
Class  D  Certificates, 12.40375% per annum with respect  to  the
initial  Interest  Accrual  Period  and,  with  respect  to  each
subsequent Interest Accrual Period a per annum rate of  3.20%  in
excess  of  LIBOR  prevailing on the related  Rate  Determination
Date;  provided however that, notwithstanding anything herein  to
the  contrary (including Section 13.1 of the Agreement), upon the
written   agreement   of  the  Transferor   and   the   Class   D
Certificateholders, the Class D Certificate Rate may  be  reduced
without further action.

     "Class  D  Certificates" shall mean  any  of  the  class  of
certificates with that designation issued pursuant to this Series
Supplement.

     "Class D Expected Final Payment Date" shall mean the October
2002 Distribution Date.

     "Class  D Fixed Allocation Percentage" shall mean,  for  any
Business  Day  following  the Revolving  Period,  the  percentage
equivalent of a fraction, the numerator of which is the  Class  D
Invested  Amount  at  the end of the last day  of  the  Revolving
Period  and  the denominator of which is the greater of  (a)  the
aggregate  amount of Principal Receivables in the Trust  and  the
amount  on deposit in the Equalization Account as of the  end  of
the  last  day  of the Revolving Period and (b) the  sum  of  the
numerators  used  to  calculate the allocation  percentages  with
respect to Principal Collections for all Classes of all Series on
such  Business Day; provided that if Series 1999-1 is paired with
a  Paired Series and a pay out event occurs with respect to  such
Paired  Series  during  the  Scheduled Amortization  Period,  the
Transferor  may, by written notice delivered to the  Trustee  and
the Servicer, designate a different numerator (provided that such
numerator is not less than the Class D Invested Amount (less,  if
the  Class C Fixed Allocation Percentage is zero, the balance  on
deposit  in  the Principal Account that is not subject  to  being
treated  as Reallocated Principal Collections or Shared Principal
Collections, to the extent not subtracted in reducing the Class C
Fixed   Allocation  Percentage,  the  Class  B  Fixed  Allocation
Percentage or the Class A Fixed Allocation Percentage to zero) as
of  the last day of the revolving period for such Paired Series).
A   Class  D  Fixed  Allocation  Percentage  (as  defined  in  an
applicable Issuance Supplement) may also apply during  a  Partial
Amortization  Period  to the extent provided  in  the  applicable
Issuance Supplement.

     "Class D Floating Allocation Percentage" shall mean, for any
Monthly  Period,  the percentage equivalent of  a  fraction,  the
numerator of which is the Class D Invested Amount at the  end  of
the  previous Monthly Period and the denominator of which is  the
greater of (a) the sum of the amount of Principal Receivables  in
the  Trust and the amounts on deposit in the Equalization Account
and  (b)  the  sum  of  the  numerators  used  to  calculate  the
allocation  percentages  with respect to  Principal  Collections,
Finance Charge Collections, Default Amounts or Uncovered Dilution
Amounts,  as  applicable, for all Classes of all Series,  in  the
case  of each of clause (a) and clause (b), determined as of  the
end  of the most recent Monthly Period; provided, that if one  or
more  Reset Dates occur in a Monthly Period, the Class D Floating
Allocation  Percentage  for the portion  of  the  Monthly  Period
falling after each such Reset Date (the "subject Reset Date") and
prior to or on any subsequent Reset Date will be determined using
a  denominator equal to the greater of the amounts  specified  in
clauses  (a) and (b) above determined as of the close of business
on the subject Reset Date.

     "Class  D  Initial Invested Amount" shall mean the aggregate
initial  principal amount of the Class D Certificates,  which  is
$18,375,000.

     "Class  D  Interest"  shall have the  meaning  specified  in
subsection 4.6(d).

     "Class   D  Interest  Shortfall"  shall  have  the   meaning
specified in subsection 4.6(d).

     "Class D Invested Amount" shall mean, for any Business  Day,
an  amount equal to (a) the Class D Initial Invested Amount, plus
(b)  the  initial  principal amount of  any  Additional  Class  D
Invested Amounts issued through the end of the preceding Business
Day  pursuant to Section 6.15, minus (c) the aggregate amount  of
principal  payments made to Class D Certificateholders  prior  to
such Business Day (excluding principal payments made pursuant  to
Section 4.16), minus (d) the aggregate amount of Class D Investor
Charge-Offs  for  all  prior Business  Days,  and  plus  (e)  the
aggregate  amount  allocated with respect  to  Class  D  Investor
Charge-Offs and available on all prior Business Days pursuant  to
subsection  4.8(a)(xiii), for the purpose of reinstating  amounts
reduced pursuant to the foregoing clause (d).

     "Class  D  Investor Charge-Offs" shall mean, on any Business
Day,  any  reduction in the Class D Invested Amount made pursuant
to Section 4.11.

     "Class  D  Investor  Default Amount"  shall  mean,  for  any
Business Day falling in a Monthly Period, the product of (a)  the
Default Amount for such Business Day and (b) the Class D Floating
Allocation Percentage for such Monthly Period.

     "Class  D  Investor  Principal  Balance"  shall  mean,  with
respect to any date of determination, an amount equal to (a)  the
Class D Initial Invested Amount, plus (b) the aggregate principal
amount  of any Additional Class D Invested Amounts issued through
the  end of the preceding Business Day pursuant to Section  6.15,
minus (c) the aggregate amount of principal payments made to  the
Class D Certificateholders prior to such date (including payments
in  respect  of  principal made to the Class D Certificateholders
from  the proceeds of any draw on the Spread Account pursuant  to
Section 4.16 or from the Policy).

     "Class  D  Principal" shall mean the principal distributable
in   respect  of  the  Class  D  Certificates  as  calculated  in
accordance with subsection 4.7(d).

     "Class D Principal Payment Commencement Date" shall mean the
earliest   of   (a)  the  Distribution  Date  in  the   Scheduled
Amortization Period after the one on which the Class  C  Invested
Amount  is  paid in full, (b) the Distribution Date  in  a  Rapid
Amortization Period on which the Class C Invested Amount is  paid
in  full  or, if there are no Principal Collections allocable  to
the  Series 1999-1 Investor Certificates remaining after payments
have  been  made to the Class C Certificates on such Distribution
Date,  the Distribution Date following the Distribution  Date  on
which  the  Class C Invested Amount is paid in full and  (c)  the
Distribution  Date  following  a  sale  or  repurchase   of   the
Receivables  as set forth in Sections 2.4(e), 9.2, 10.2(a),  12.1
or 12.2 of the Agreement and Section 3 of this Series Supplement.

     "Class  D Reduction Amount" shall have the meaning specified
in subsection 4.11(a).

     "Class  D  Release  Date" shall mean the date  that  is  the
earlier of (a) the date on which the Class A Invested Amount, the
Class B Invested Amount and the Class C Invested Amount have been
reduced  to  zero  (including  the date  of  the  application  of
liquidation  proceeds or termination of the  interest  of  Series
1999-1  in  the Trust pursuant to Sections 2.4(e), 9.2,  12.1  or
12.2  of  the  Agreement and Section 3 of this Series Supplement)
and (b) the Series 1999-1 Termination Date.

     "Class  D  Servicing  Fee  Share"  shall  have  the  meaning
specified in subsection 4.9(e).

     "Class  D  Uncovered Dilution Amount" shall  mean,  for  any
Business Day, an amount equal to the product of (a) the Uncovered
Dilution  Amount  for  such  day and (b)  the  Class  D  Floating
Allocation Percentage for such day.

     "Class  E Certificateholder" shall mean any Person in  whose
name  a  Class  E  Certificate is registered in  the  Certificate
Register.

     "Class  E  Certificate  Rate" shall mean  0.00%  per  annum,
provided that in connection with the transfer of all or  part  of
the  Class  E  Certificates,  the  Transferor  may  designate  an
interest rate for all, or the transferred portion, of the Class E
Certificates so long as each Rating Agency confirms that doing so
will  not  cause that Rating Agency to downgrade or withdraw  its
rating on any Class of the Series 1999-1 Certificates.

     "Class  E  Certificates" shall mean any of the  certificates
executed  by the Transferor and authenticated by or on behalf  of
the Trustee, substantially in the form of Exhibit A-3.

     "Class  E Fixed Allocation Percentage" shall mean,  for  any
Business  Day  following  the Revolving  Period,  the  percentage
equivalent of a fraction, the numerator of which is the  Class  E
Invested  Amount  at  the end of the last day  of  the  Revolving
Period and the denominator of which is the greater of (a) the sum
of the aggregate amount of Principal Receivables in the Trust and
the  amount on deposit in the Equalization Account at the end  of
the  last  day  of the Revolving Period and (b) the  sum  of  the
numerators  used  to  calculate the allocation  percentages  with
respect to Principal Collections for all Classes of all Series on
such  Business Day; provided that if Series 1999-1 is paired with
a  Paired Series and a pay out event occurs with respect to  such
Paired  Series  during  the  Scheduled Amortization  Period,  the
Transferor  may, by written notice delivered to the  Trustee  and
the Servicer, designate a different numerator (provided that such
numerator is not less than the Class E Invested Amount (less,  if
the  Class D Fixed Allocation Percentage is zero, the balance  on
deposit  in  the Principal Account that is not subject  to  being
treated  as Reallocated Principal Collections or Shared Principal
Collections, to the extent not subtracted in reducing the Class D
Fixed   Allocation  Percentage,  the  Class  C  Fixed  Allocation
Percentage, the Class B Fixed Allocation Percentage or the  Class
A  Fixed Allocation Percentage to zero) as of the last day of the
revolving  period  for  such Paired Series).   A  Class  E  Fixed
Allocation  Percentage  (as  defined in  an  applicable  Issuance
Supplement)  may also apply during a Partial Amortization  Period
to the extent provided in the applicable Issuance Supplement.

     "Class E Floating Allocation Percentage" shall mean, for any
Monthly  Period,  the percentage equivalent of  a  fraction,  the
numerator of which is the Class E Invested Amount at the  end  of
the  previous Monthly Period and the denominator of which is  the
greater of (a) the sum of the amount of Principal Receivables  in
the  Trust and the amounts on deposit in the Equalization Account
and  (b)  the  sum  of  the  numerators  used  to  calculate  the
allocation  percentages  with respect to  Principal  Collections,
Finance Charge Collections, Default Amounts or Uncovered Dilution
Amounts,  as  applicable, for all Classes of all Series,  in  the
case  of each of clause (a) and clause (b), determined as of  the
end  of the most recent Monthly Period; provided, that if one  or
more  Reset Dates occur in a Monthly Period, the Class E Floating
Allocation  Percentage  for the portion  of  the  Monthly  Period
falling after each such Reset Date (the "subject Reset Date") and
prior to or on any subsequent Reset Date will be determined using
a  denominator equal to the greater of the amounts  specified  in
clauses  (a) and (b) above determined as of the close of business
on the subject Reset Date.

     "Class  E  Initial Invested Amount" shall mean the aggregate
initial  principal amount of the Class E Certificates,  which  is
$20,125,000.

     "Class E Invested Amount" shall mean, for any Business  Day,
an  amount equal to (a) the Class E Initial Invested Amount, plus
(b)  the  initial  principal amount of  any  Additional  Class  E
Invested Amounts issued through the end of the preceding Business
Day  pursuant to Section 6.15, minus (c) the aggregate amount  of
principal  payments made to Class E Certificateholders  prior  to
such  Business  Day, minus (d) the aggregate amount  of  Class  E
Investor Charge-Offs for all prior Business Days and plus (e) the
aggregate  amount  allocated with respect  to  Class  E  Investor
Charge-Offs and available on all prior Business Days pursuant  to
subsection  4.8(a)(xvi), for the purpose of  reinstating  amounts
reduced pursuant to the foregoing clause (d).

     "Class  E  Investor Charge-Offs" shall mean, on any Business
Day,  any  reduction in the Class E Invested Amount made pursuant
to Section 4.11.

     "Class  E  Investor  Default Amount"  shall  mean,  for  any
Business Day falling in a Monthly Period, the product of (a)  the
Default Amount for such Business Day and (b) the Class E Floating
Allocation Percentage for such Monthly Period.

     "Class  E  Principal" shall mean the principal distributable
in   respect  of  the  Class  E  Certificates  as  calculated  in
accordance with subsection 4.7(e).

     "Class E Principal Payment Commencement Date" shall mean the
Distribution Date on which the Class D Invested Amount is paid in
full  or, if there are no Principal Collections allocable to  the
Series 1999-1 Investor Certificates remaining after payments have
been  made to the Class D Certificates on such Distribution Date,
the  Distribution Date following the Distribution Date  on  which
the Class D Invested Amount is paid in full.

     "Class  E Reduction Amount" shall have the meaning specified
in subsection 4.11(a).

     "Class  E  Uncovered Dilution Amount" shall  mean,  for  any
Business Day falling in a Monthly Period, an amount equal to  the
product of (a) the Uncovered Dilution Amount for such day and (b)
the  Class  E  Floating Allocation Percentage  for  such  Monthly
Period.

     "Covered Amount" shall mean an amount determined as of  each
Transfer  Date  with  respect  to  any  Interest  Accrual  Period
relating  to an Accumulation Period as the product of (a)  (i)  a
fraction  the  numerator of which is the number of  days  in  the
related  Interest Accrual Period and the denominator of which  is
360,  times (ii) the applicable Class A Certificate Rate for that
Interest  Accrual Period, and (b) the balance of the Accumulation
Account  as  of  the Determination Date preceding  such  Transfer
Date.

     "Daily Required Amount" shall have the meaning specified  in
Section 4.9(a).

     "Deficiency Amount" shall mean (a) for any Distribution Date
other  than  the  Scheduled Series 1999-1 Termination  Date,  the
excess  of  the  sum  of the Class D Interest and  the  Carryover
Class  D  Interest, if any, for such Distribution Date  over  any
amounts  with  respect  thereto  previously  deposited  into  the
Interest  Funding Account on any prior Business  Day  during  the
related  Monthly Period and (b) for the Scheduled  Series  1999-1
Termination  Date, the sum of (i) the excess of the  sum  of  the
Class D Interest and the Carryover Class D Interest, if any,  for
such  Distribution  Date over any amounts  with  respect  thereto
previously  deposited into the Interest Funding  Account  on  any
prior Business Day during the related Monthly Period and (ii) the
excess  of the Class D Investor Principal Balance over the  funds
on  deposit in the Principal Account that are available to  cover
such amount, in each case, after giving effect to the application
of any amounts on deposit in the Spread Account.

     "Determination  Date"  shall mean the  second  Business  Day
prior to each Distribution Date.

     "Distribution  Date"  shall mean each  Monthly  Distribution
Date, provided that with respect to the Class A Certificates  and
the  Class  B  Certificates, (i) the initial regular Distribution
Date   shall   be  the  December  1999  Distribution   Date   and
(ii)  additional  Distribution Dates  may  be  specified  in  the
applicable Issuance Supplement.

     "Enhancement"  shall  mean, with  respect  to  the  Class  A
Certificates,  the subordination of the Class B Invested  Amount,
the Class C Invested Amount, the Class D Invested Amount, and the
Class   E   Invested  Amount;  with  respect  to  the   Class   B
Certificates,  the subordination of the Class C Invested  Amount,
the  Class  D  Invested Amount, and the Class E Invested  Amount;
with  respect  to the Class C Certificates, the subordination  of
the Class D Invested Amount and the Class E Invested Amount; with
respect  to  the Class D Certificates, the subordination  of  the
Class  E  Invested Amount and the Spread Account and,  after  the
Enhancement Date, the Policy.

     "Enhancement Date" shall mean December 9, 1999.

     "Enhancement  Percentage"  shall  mean,  for  any  Class  of
Certificates and any Business Day, the percentage equivalent of a
fraction  (a)  the numerator of which is the sum of the  invested
amounts  of each Class of Certificates junior to that  Class  and
(b) the denominator of which is the Invested Amount.

     "Enhancement Supplement" shall mean the supplement  to  this
Series  Supplement dated as of December 8, 1999 and entered  into
among  the Transferor, the Servicer, the Trustee and the  Insurer
in connection with the issuance of the Policy.

     "Excess  Finance  Charge Collections" shall  mean,  for  any
Business  Day,  as the context requires, either  (a)  the  amount
described  in  subsection 4.8(a)(xxii) allocated  to  the  Series
1999-1  Certificates but available to cover shortfalls in amounts
paid from Finance Charge Collections for other Series, if any, or
(b)  the aggregate amount of Finance Charge Collections allocable
to  other  Series  in  excess of the amounts  necessary  to  make
required  payments  with  respect to such  Series,  if  any,  and
available  to cover shortfalls with respect to the Series  1999-1
Certificates.

     "Excess Spread Percentage" shall mean, with respect  to  any
Distribution  Date,  the amount, if any, by which  the  Portfolio
Yield for the preceding Monthly Period exceeds the Base Rate  for
the  preceding  Interest Accrual Period, provided  that  (a)  the
Excess  Spread Percentage for the October 1999 Distribution  Date
shall  equal  8.237%, (b) the Excess Spread  Percentage  for  the
November  1999  Distribution Date shall be determined  on  a  pro
forma  basis  using the relevant Portfolio Yield for  the  Series
1997-1  Certificates and a Base Rate equal to 8.168% and (c)  the
Excess Spread Percentage for the December 1999 Distribution  Date
shall  be  determined  on a pro forma basis,  assuming  that  the
Series 1999-1 Certificates were issued on November 1, 1999, using
a  Base Rate equal to LIBOR plus the applicable program fee rates
(determined  by reference to the applicable fee letters  relating
to the Class A VFCs and the Class B VFCs).

     "Facilities  Costs"  shall  mean for  any  Interest  Accrual
Period  the related Senior Facilities Costs, Mezzanine Facilities
Costs and Junior Facilities costs.

     "Fixed  Allocation Percentage" shall mean, for any  Business
Day following the Revolving Period, the percentage equivalent  of
a  fraction, the numerator of which is the Invested Amount at the
end  of  the last day of the Revolving Period and the denominator
of which is the greater of (a) the sum of the aggregate amount of
Principal  Receivables in the Trust and the amount on deposit  in
the  Equalization Account as of the end of the last  day  of  the
Revolving  Period  and  (b) the sum of  the  numerators  used  to
calculate  the allocation percentages with respect  to  Principal
Collections  for  all  Series  on such  Business  Day;  provided,
however, if, as of the Determination Date falling in the  Monthly
Period  after  the Monthly Period in which sufficient  funds  are
deposited into the Accumulation Account and the Principal Account
to  reduce  the  Class  A Invested Amount and,  if  the  Class  B
Expected  Final Payment Date is the same as the Class A  Expected
Final  Payment Date, the Class B Invested Amount to zero  on  the
related  Distribution Date (i) the Rapid Amortization Period  has
not   commenced  and  (ii)  there  have  not  been  any  Investor
Charge-Offs   with  respect  to  any  Class  of   Series   1999-1
Certificates  during the preceding twelve Monthly  Periods,  then
for  each  Monthly  Period  after the  Monthly  Period  in  which
sufficient funds are deposited into the Principal Account and the
Accumulation Account to reduce the Class A Invested  Amount  and,
if  the  Class B Expected Final Payment Date is the same  as  the
Class  A Expected Final Payment Date, the Class B Invested Amount
to  zero  on  the  related Distribution Date, the  numerator  for
determining the Fixed Allocation Percentage shall be  reduced  by
an  amount equal to the Class A Invested Amount at the end of the
Revolving  Period;  provided further that  if  Series  1999-1  is
paired  with  a  Paired Series and a pay out  event  occurs  with
respect  to  such Paired Series during the Scheduled Amortization
Period,  the Transferor may, by written notice delivered  to  the
Trustee,  the  Insurer  and the Servicer, designate  a  different
numerator  (provided that such numerator is  not  less  than  the
Invested  Amount (less the balance on deposit in any Accumulation
Account  and the Principal Account that is not subject  to  being
treated  as Reallocated Principal Collections or Shared Principal
Collections) as of the last day of the revolving period for  such
Paired Series).  A Fixed Allocation Percentage (as defined in  an
applicable Issuance Supplement) may also apply during  a  Partial
Amortization  Period  to the extent provided  in  the  applicable
Issuance Supplement.

     "Floating  Allocation  Percentage"  shall  mean,   for   any
Business  Day,  the  sum  of  the  applicable  Class  A  Floating
Allocation  Percentage,  Class B Floating Allocation  Percentage,
Class   C   Floating  Allocation  Percentage,  Class  D  Floating
Allocation  Percentage and Class E Floating Allocation Percentage
for such Business Day.

     "Initial Invested Amount" shall mean an amount equal to  the
sum of (a)  the Class A Initial Invested Amount, (b) the Class  B
Initial Invested Amount, (c) the Class C Initial Invested Amount,
(d)  the  Class  D Initial Invested Amount and (e)  the  Class  E
Initial Invested Amount.

     "Insurance Agreement" shall mean the Insurance and Indemnity
Agreement dated as of December 8, 1999 among R.V.I. Guaranty Co.,
Ltd., as Insurer, the Transferor, the Servicer and the Trustee.

     "Insurance  Premium" shall mean, for any  Distribution  Date
falling  after the Enhancement Date, the monthly premium  payable
to  the  Insurer on such Distribution Date as set  forth  in  the
Insurance Agreement.

     "Insured  Payment"  shall mean, for  any  Distribution  Date
falling  after  the Enhancement Date, the Deficiency  Amount  for
such Distribution Date.

     "Insurer"  shall mean R.V.I. Guaranty Co., Ltd.,  a  company
organized under the laws of the Island of Bermuda.

     "Interest  Accrual Period" shall mean, for each Distribution
Date:

          (a)  with  respect to all or a portion of the  Class  A
     Certificates and Class B Certificates, the period  specified
     in the applicable Issuance Supplement; and

          (b)  with  respect  to  the Class C  Certificates,  the
     Class  D  Certificates  and the Class  E  Certificates,  the
     period from and including the preceding Distribution Date to
     and  excluding  such  Distribution Date; provided,  however,
     that  the initial Interest Accrual Period will run from  the
     Series  1999-1  Closing  Date to and excluding  the  initial
     Distribution Date.

     "Invested  Amount"  shall mean, for  any  Business  Day,  an
amount equal to the sum of (a) the Class A Invested Amount as  of
such  Business Day, (b) the Class B Invested Amount  as  of  such
Business Day, (c) the Class C Invested Amount as of such Business
Day, (d) the Class D Invested Amount as of such Business Day  and
(e) the Class E Invested Amount as of such Business Day.

     "Investment  Earnings"  shall  mean,  with  respect  to  any
Distribution Date, all interest and earnings on Cash  Equivalents
included  in  the  Spread Account (net of losses  and  investment
expenses)  during  the  period commencing on  and  including  the
Distribution  Date  immediately preceding such Distribution  Date
and ending on but excluding such Distribution Date.

     "Investment  Letter"  shall have the  meaning  specified  in
Section 12(f).

     "Investor Certificateholder" shall mean the Holder of record
of an Investor Certificate of Series 1999-1.

     "Investor Certificates" shall mean the Class A Certificates,
the  Class B Certificates, the Class C Certificates, the Class  D
Certificates and the Class E Certificates.

     "Investor  Charge-Offs"  shall  mean  the  sum  of  Class  A
Investor  Charge-Offs,  Class  B Investor  Charge-Offs,  Class  C
Investor  Charge-Offs,  Class  D  Investor  Charge-Offs  and  the
Class E Investor Charge-Offs.

     "Investor Default Amount" shall mean, for each Business Day,
an  amount  equal  to  the sum of the Class  A  Investor  Default
Amount, the Class B Investor Default Amount, the Class C Investor
Default  Amount,  the  Class D Investor Default  Amount  and  the
Class E Investor Default Amount for such Business Day.

     "Issuance Supplement" shall mean a supplement to this Series
Supplement  entered into among the Transferor, the  Servicer  and
the Trustee to specify the terms of Class A Certificates or Class
B Certificates, or both, to be included as part of Series 1999-1.

     "Junior Facilities Costs" shall be defined, for any VFCs, in
the applicable Issuance Supplement.

     "Late Payment Rate" shall have the meaning specified in  the
Insurance Agreement.

     "LIBOR"  shall mean, as of any Rate Determination Date,  the
rate for deposits in United States dollars for a period equal  in
length  to  the  Interest Accrual Period  which  appears  on  the
Telerate Page 3750 as of 11:00 a.m, London time, on such date  as
determined  by  the  Trustee.  If such rate does  not  appear  on
Telerate  Page  3750, the rate for that Rate  Determination  Date
shall  be  determined on the basis of the rates at which deposits
in  United  States  dollars are offered by four  reference  banks
selected by the Trustee at approximately 11:00 a.m., London time,
on  that day to prime banks in the London interbank market for  a
period  of the Interest Accrual Period. The Trustee shall request
the  principal  London office of each of the reference  banks  it
selects  to  provide a quotation of such rate.  If at  least  two
such   quotations   are  provided,  the  rate   for   that   Rate
Determination  Date  shall  be  the  arithmetic  mean   of   such
quotations.  If  fewer  than  two  quotations  are  provided   as
requested, the rate for that Rate Determination Date shall be the
arithmetic mean of the rates of four reference banks selected  by
the  Trustee at approximately 11:00 a.m., New York City time,  on
that  day  for loans in United States dollars to leading European
banks for a period of the Interest Accrual Period.

     "Mezzanine Facilities Costs" shall be defined, for any VFCs,
in  the  applicable Issuance Supplement, provided that  any  such
Mezzanine  Facilities Costs for any Interest Accrual  Period  may
not  exceed: (i) for the Class A Certificates, the product of (a)
the  daily  average  Class A Invested Amount  for  such  Interest
Accrual  Period,  (b) 0.75% and (c) the number of  days  in  such
Interest Accrual Period divided by 360, and (ii) for the Class  B
Certificates,  the  product  of (a) the  daily  average  Class  B
Invested  Amount for such Interest Accrual Period, (b) 0.75%  and
(c) the number of days in such Interest Accrual Period divided by
360;   provided  further,  that  greater  amounts  of   Mezzanine
Facilities  Costs may apply if each Rating Agency  confirms  that
doing  so  will  not  cause such Rating Agency  to  downgrade  or
withdraw its rating on any Class of Certificates.

     "Minimum Transferor Percentage" shall mean (a) 2.00% for any
day  falling  in  a December Monthly Period or a January  Monthly
Period and (b) 0.00% for any other day.

     "Monthly  Class  A Required Amount" shall have  the  meaning
specified in Section 4.9(b).

     "Monthly  Class  B Required Amount" shall have  the  meaning
specified in Section 4.9(c).

     "Monthly  Class  C Required Amount" shall have  the  meaning
specified in Section 4.9(d).

     "Monthly  Class  D Required Amount" shall have  the  meaning
specified in Section 4.9(e).

     "Monthly  Distribution Date" shall mean December  15,  1999,
and  the fifteenth day of each calendar month thereafter,  or  if
such day is not a Business Day, the next succeeding Business Day.

     "Monthly  Period"  shall have the meaning specified  in  the
Agreement,  except that the first Monthly Period with respect  to
the  Series  1999-1 Certificates shall begin on and  include  the
Series  1999-1 Closing Date and shall end on and include November
30, 1999.

     "Monthly  Principal"  shall mean: (a) for  any  Distribution
Date  falling in the Scheduled Amortization Period and  prior  to
the  Class A/B VFC Expected Final Payment Date, the aggregate  of
such  amounts  as  may  be specified in any Issuance  Supplements
(which  shall not exceed the sum of the Class A Adjusted Invested
Amount and the Class B Invested Amount as of the related Transfer
Date); (b) for the Class A/B VFC Expected Final Payment Date  (so
long as the Rapid Amortization Period has not commenced), the sum
of the Class A Invested Amount and the Class B Invested Amount at
the  end  of  the prior Distribution Date, minus any  amounts  on
deposit in any Accumulation Account; (c) for the Class C Expected
Final Payment Date (so long as the Rapid Amortization Period  has
not commenced), the Class C Invested Amount; (d) for the Class  D
Expected  Final  Payment Date (so long as the Rapid  Amortization
Period  has not commenced), the Class D Invested Amount; and  (e)
for  any  Distribution  Date falling in  the  Rapid  Amortization
Period, the Invested Amount.

     "Partial   Amortization  Period"  shall  have  the   meaning
specified in any Issuance Supplement.

     "Pay  Out Commencement Date" shall mean the date on which  a
Trust Pay Out Event is deemed to occur pursuant to Section 9.1 of
the Agreement or a Series 1999-1 Pay Out Event is deemed to occur
pursuant to Section 8 of this Series Supplement.

     "Policy"  shall  mean  the  certificate  guaranty  insurance
policy   issued  by  the  Insurer  and  covering  the   Class   D
Certificates issued on the Closing Date and referred  to  in  the
Insurance Agreement.

     "Portfolio Correction Amount" shall mean the smallest amount
which,  if  distributed to certificateholders  of  the  Trust  in
reduction  of  the aggregate invested amount of all  certificates
upon  the occurrence of a Portfolio Imbalance Event, would result
in compliance with the percentage limitation in the definition of
Portfolio  Imbalance Event the violation of which  gave  rise  to
such Portfolio Imbalance Event.

     "Portfolio  Correction Distribution  Date"  shall  mean  the
first  Distribution Date following the occurrence of a  Portfolio
Imbalance Event.

     "Portfolio  Yield" shall mean, for any Monthly  Period,  the
annualized percentage equivalent of a fraction, the numerator  of
which  is the sum of (a) the aggregate amount of Available Series
1999-1   Finance  Charge  Collections  for  such  Monthly  Period
calculated on a cash basis after subtracting the Investor Default
Amount   and   Uncovered  Dilution  Amount  applicable   to   any
outstanding Class of Series 1999-1 Certificates for such  Monthly
Period and (b) any amount withdrawn from the Reserve Account  and
treated as Available Series 1999-1 Finance Charge Collections  on
the  related Transfer Date, and the denominator of which  is  the
average  daily  Invested  Amount  during  the  preceding  Monthly
Period.

     "Principal Shortfalls" shall mean, on any Business Day,  the
Monthly  Principal for the related Distribution Date,  minus  the
funds  on deposit in the Principal Account that are available  to
cover  the Monthly Principal on such Distribution Date, excluding
Subordinated Principal Collections.

     "Private  Holder"  shall mean each  holder  of  a  right  to
receive  interest  or  principal in  respect  of  any  direct  or
indirect interest in the Trust including any financial instrument
or  contract the value of which is determined in whole or part by
reference  to the Trust (including the Trust's assets, income  of
the  Trust  or  distributions made by the Trust),  excluding  any
interest  in  the  Trust represented by any Series  or  Class  of
Certificates or any other interest as to which the Transferor has
provided to the Trustee an Opinion of Counsel to the effect  that
such  Series, Class or other interest will be treated as debt  or
otherwise  not as an equity interest in either the Trust  or  the
Receivables  for  federal  income  tax  purposes,  in  each  case
provided  such Series, Class or other interest is not convertible
or  exchangeable  into an interest in the Trust  or  the  Trust's
income  or  equivalent  value.  Notwithstanding  the  immediately
preceding  sentence, (i) "Private Holder" shall also include  any
other  Person that the Transferor determines is, may be,  or  may
become   a  "partner"  within  the  meaning  of  Section  1.7704-
1(h)(1)(ii) of the United States Treasury Regulations  (including
by   reason  of  Section  1.7704-1(h)(3))  and  (ii)  unless  the
Transferor  otherwise  determines,  "Private  Holder"  shall  not
include  any holder that would otherwise be considered a  Private
Holder  solely by reason of having acquired a direct or  indirect
interest  in the Trust issued prior to December 4, 1995.  Private
Holders   include,  without  limitation,  the  Holders   of   the
Transferor Certificates or any interest therein, the interest  of
the  Servicer and any similar interests in the Trust  represented
by  any  other Class of any Series of Certificates issued  on  or
after December 4, 1995. Any Person holding more than one interest
in  the Trust each of which separately would cause such Person to
be  a Private Holder shall be treated as a single Private Holder.
Each  holder  of  an  interest in a  Private  Holder  that  is  a
partnership, S Corporation or a grantor trust under the  Internal
Revenue  Code  shall  be  treated as  a  Private  Holder,  unless
excepted with the consent of the Transferor.

     "Qualified Institutional Buyer" has the meaning assigned  to
that term in Rule 144A.

     "Quarterly  Excess  Spread  Percentage"  shall  mean,   with
respect  to the each Distribution Date, the percentage equivalent
of  a  fraction, the numerator of which is the sum of the  Excess
Spread Percentages for such Distribution Date and the immediately
preceding two Distribution Dates and the denominator of which  is
three.

     "Rapid Amortization Period" shall mean the period commencing
on  the  Pay  Out Commencement Date and ending on the earlier  to
occur  of  (i) the date of termination of the Trust  pursuant  to
Section  12.1  of  the  Agreement  or  (ii)  the  Series   1999-1
Termination Date.

     "Rate  Determination Date" shall mean, with respect  to  any
Interest Accrual Period, the second Business Day before the first
day of such Interest Accrual Period.

     "Rating Agency" shall mean (a) for the Class A Certificates,
the  Class B Certificates and the Class C Certificates,  each  of
Moody's,  Fitch and Standard and Poor's and (b) for the  Class  D
Certificates, each of Duff & Phelps Credit Rating Co., Fitch  and
Standard and Poor's.

     "Reallocated Principal Collections" shall have  the  meaning
specified in Section 4.11(b)(iv).

     "Reimbursement  Amount"  shall  mean  the  sum  of  (a)  any
unreimbursed payments made by an Insurer under the related Policy
and  (b) all other amounts owed to such Insurer under this Series
Supplement or the Insurance Agreement, in each case together with
interest on such amounts at the applicable Late Payment Rate.

     "Required  Reserve Account Amount" shall mean, with  respect
to  any  Distribution Date prior to the Reserve  Account  Funding
Date,  $0, and on or after the Reserve Account Funding  Date,  an
amount  equal to (a) 0.5% of the Class A Invested Amount  subject
to  accumulation  as  of the preceding Distribution  Date  (after
giving  effect to all changes therein on such date)  or  (b)  any
other amount designated by the Transferor, provided that, if such
designation  is  of  a lesser amount, the Transferor  shall  have
received  written  notice  from  each  Rating  Agency  that  such
designation will not result in the reduction or withdrawal of the
rating of the Series 1999-1 Certificates and shall have delivered
copies  of  each  such  written notice to the  Servicer  and  the
Trustee.

     "Required  Spread  Account  Amount"  shall  mean,  for  each
Distribution  Date commencing with the December 1999 Distribution
Date,  the product of (a) the Spread Account Percentage in effect
for  such  date  and (b) during (i) the Revolving Period  or  the
Scheduled  Amortization  Period, the Invested  Amount,  and  (ii)
during the Rapid Amortization Period, the Invested Amount  as  of
the  last  day  before  the beginning of the  Rapid  Amortization
Period;  provided,  that  in no event will  the  Required  Spread
Account  Amount  exceed  the Class D Investor  Principal  Balance
(after  taking  into  account any payments to  be  made  on  such
Distribution Date).

     "Reserve Account" is defined in Section 4.17(a).

     "Reserve Account Funding Date" shall mean the first Business
Day  in the Monthly Period which commences no later than 3 months
prior to the commencement of any scheduled Accumulation Period.

     "Reserve  Account Surplus" shall mean, as  of  any  Transfer
Date  following the Reserve Account Funding Date, the amount,  if
any,  by  which  the  amount on deposit in  the  Reserve  Account
exceeds the Required Reserve Account Amount.

     "Reserve Draw Amount" is defined in Section 4.17(c).

     "Reset  Date" shall mean each day that is: (a) an Additional
Cut-off Date; (b) a Removal Date; (c) the last day prior  to  any
day  on  which a Series is issued; and (d) the last day prior  to
any day on which there is an increase or decrease in the invested
amount of any outstanding Series of Certificates.

     "Revolving Period" shall mean the period from and  including
the  Closing Date to, but not including, the Amortization  Period
Commencement Date.

     "Rule  144A" shall mean Rule 144A under the Securities  Act,
as amended.

     "Scheduled Amortization Period" shall mean, with respect  to
the Series 1999-1 Certificates, unless a Pay Out Event shall have
occurred  with respect to such Series prior thereto,  the  period
commencing  on  the  Amortization Period  Commencement  Date  and
ending  upon the earliest to occur of (a) the payment in full  to
the  Investor Certificateholders of the Invested Amount, (b)  the
Series  1999-1 Termination Date and (c) the Pay Out  Commencement
Date.

     "Scheduled  Series 1999-1 Termination Date" shall  mean  the
August 2006 Distribution Date.

     "Senior  Facilities  Costs"  shall  mean  for  any  Interest
Accrual   Period  and  the  Class  A  Certificates  or  Class   B
Certificates, the sum of Class A Interest or Class B Interest, as
the  case  may be, and other amounts specified in the  applicable
Issuance   Supplements;  provided  that  the   aggregate   Senior
Facilities Costs for any Interest Accrual Period may not exceed:

            (i) for the Class A Certificates, the product of  (a)
     the  daily average Class A Invested Amount for such Interest
     Accrual  Period, (b) Adjusted LIBOR plus 2.25% and  (c)  the
     number  of  days in such Interest Accrual Period divided  by
     360 and

          (ii)  for the Class B Certificates, the product of  (a)
     the  daily average Class B Invested Amount for such Interest
     Accrual  Period, (b) Adjusted LIBOR plus 2.25% and  (c)  the
     number  of  days in such Interest Accrual Period divided  by
     360;

and  provided further, that greater amounts of Senior  Facilities
Costs may apply if each Rating Agency confirms that doing so will
not  cause such Rating Agency to downgrade or withdraw its rating
on any Class of Certificates.

     "Series  Portfolio  Correction  Distribution  Amount"  shall
mean,  with  respect  to Series 1999-1, the product  of  (a)  the
Portfolio Correction Amount and (b) a fraction, the numerator  of
which  is the Floating Allocation Percentage, and the denominator
of  which  is the sum of the floating allocation percentages  for
each Series which is then in its Revolving Period.

     "Series 1999-1" shall mean the Series of the SRI Receivables
Master Trust represented by the Series 1999-1 Certificates.

     "Series  1999-1 Certificateholder" shall mean the holder  of
record of any Series 1999-1 Investor Certificate.

     "Series 1999-1 Closing Date" shall mean November 9, 1999.

     "Series  1999-1  Pay  Out  Event"  shall  have  the  meaning
specified in Section 8.

     "Series  1999-1 Termination Date" shall mean the earlier  to
occur  of  (i) the day after the Distribution Date on  which  the
Series  1999-1  Certificates  are  paid  in  full,  or  (ii)  the
Scheduled Series 1999-1 Termination Date.

     "Series Servicing Fee Percentage" shall mean 2.0%.

     "Series Supplement" shall have the meaning specified in  the
first paragraph of the recitals hereto.

     "Series  Transferor Finance Charge Collections" shall  mean,
on  any  Business  Day,  the product of (a)  the  Finance  Charge
Collections for such Business Day, (b) the Transferor  Percentage
and  (c) a fraction, the numerator of which is the numerator used
to  calculate  the allocation percentage for Series  1999-1  with
respect  to  Finance Charge Collections at the end  of  the  most
recent Reset Date and the denominator of which is the sum of  the
numerators  used  to  calculate the allocation  percentages  with
respect  to Finance Charge Collections for all Series outstanding
on such Business Day.

     "Series Transferor Principal Collections" shall mean, on any
Business  Day,  the product of (a) the Principal Collections  for
such  Business  Day,  (b) the Transferor  Percentage  and  (c)  a
fraction,  the  numerator  of which  is  the  numerator  used  in
determining  the Fixed Allocation Percentage at the  end  of  the
prior  Monthly Period and the denominator of which is the sum  of
the  numerators used to calculate the allocation percentages with
respect  to  Principal Collections for all Series outstanding  on
such Business Day.

     "Servicer"  shall have the meaning specified  in  the  first
paragraph of the recitals hereto.

     "Servicing  Fee"  shall  mean, for any  Monthly  Period,  an
amount  equal to the product of (i) one-twelfth, (ii) the  Series
Servicing Fee Percentage and (iii) the Invested Amount as of  the
preceding  Record Date, or, in the case of the first Distribution
Date, the Initial Invested Amount.

     "Shared  Principal Collections" shall mean, as  the  context
requires,  either (a) the amount allocated to the  Series  1999-1
Investor  Certificates  which,  in  accordance  with  subsections
4.8(b)  and 4.8(c)(i), may be applied in accordance with  Section
4.3(e)  of  the  Agreement or (b) the amounts  allocated  to  the
investor    certificates   (other   than   Transferor    Retained
Certificates)  of  other Series which the applicable  Supplements
for  such  Series specify are to be treated as "Shared  Principal
Collections"  and  which  may  be  applied  to  cover   Principal
Shortfalls   with   respect  to  the   Series   1999-1   Investor
Certificates.

     "Spread  Account"  shall  have  the  meaning  specified   in
subsection 4.16(a).

     "Spread  Account Deficiency" shall mean the excess, if  any,
of  the  Required Spread Account Amount over the Available Spread
Account Amount.

     "Spread  Account Percentage" shall mean for any Distribution
Date  commencing  with the December 1999 Distribution  Date,  (a)
zero   if   the  Quarterly  Excess  Spread  Percentage  on   such
Distribution  Date is greater than or equal to 5.0%,  (b)1.5%  if
the  Quarterly Excess Spread Percentage on such Distribution Date
is less than 5.0% and greater than or equal to 4.5%, (c) 1.75% if
the  Quarterly Excess Spread Percentage on such Distribution Date
is  less  than 4.5% and greater than or equal 4.0%, (d) 2.25%  if
the  Quarterly Excess Spread Percentage on such Distribution Date
is  less  than  4.0%  and  greater than 3.5%,  (e)  3.0%  if  the
Quarterly Excess Spread Percentage on such Distribution  Date  is
less than 3.5% and greater than or equal to 3.0%, and (f) 4.0% if
the  Quarterly Excess Spread Percentage on such Distribution Date
is  less than 3.0%, provided, that if a Trust Pay Out Event or  a
Series  1999-1  Pay  Out Event is deemed  to  occur,  the  Spread
Account Percentage shall be 4.0%.

     "Spread  Account Residual Interest Holders" shall  mean  the
Holder  of  the  Transferor  Certificate  or  its  designees   or
assignees.

     "Subordinated  Principal Collections" shall  mean,  for  any
Monthly  Period,  the  aggregate amount of Principal  Collections
that  were  deposited  into  the Principal  Account  pursuant  to
Section 4.8(c)(ii) or Section 4.8(d)(i) or allocated and paid  to
the Holder of the Exchangeable Transferor Certificate pursuant to
Section 4.8(b)(ii) during that Monthly Period.

     "Telerate  Page 3750" shall mean the display page designated
as  such  at  the  Series  1999-1  Closing  Date  on  the  Bridge
Information Systems Telerate Service (or such other page  as  may
replace  such page on such service for the purpose of  displaying
comparable rates or prices).

     "Transferor" shall have the meaning specified in  the  first
paragraph of the recitals hereto.

     "Transferor  Retained  Certificates"  shall  mean   investor
certificates  of any Series, including the Class E  Certificates,
which the Transferor is required to retain, but only for so  long
as the Transferor is the Holder of such Certificates.

     "Trustee"  shall  have the meaning specified  in  the  first
paragraph of the recitals hereto.

     "Uncovered  Dilution Amount" shall mean, for  each  Business
Day,  an  amount  equal  to  the  lesser  of  (a)  the  aggregate
Adjustment  Payments required to be deposited in  the  Collection
Account  on that Business Day pursuant to Section 3.8(a)  of  the
Agreement that have not been made and (b) the amount, if any,  by
which  the Transferor Interest is less than zero on such Business
Day,  after  giving effect to the event that  gave  rise  to  the
requirement that the unmade Adjustment Payment be made.

     "VFCs"  shall  mean the Class A VFCs and the Class  B  VFCs,
collectively.

     SECTION 3.     Reassignment Terms. The Class A Certificates,
Class   B   Certificates,  Class  C  Certificates  and  Class   D
Certificates  shall be subject to repurchase by the  Servicer  at
its  option, in accordance with the terms specified in subsection
12.2(a)  of the Agreement, on any Distribution Date on  or  after
the  Distribution Date on which the sum of the Class  A  Invested
Amount, the Class B Invested Amount, the Class C Invested  Amount
and the Class D Invested Amount is reduced to an amount less than
or  equal  to  10%  of the sum of the highest  combined  Class  A
Invested  Amount,  the  Class  B Invested  Amount,  the  Class  C
Invested  Amount and Class D Invested Amount at any  time  during
the Revolving Period. The deposit required in connection with any
such repurchase and final distribution shall be equal to the  sum
of  the Class A Invested Amount, the Class B Invested Amount, the
Class C Invested Amount and the Class D Invested Amount, plus any
accrued  and  unpaid  interest  on  the  Certificates  and  other
Facilities  Costs through the day prior to the Distribution  Date
on   which  the  final  distribution  occurs,  plus  any   unpaid
Reimbursement  Amounts.  The  deposit  required  to  be  made  in
connection  with a sale or repurchase of the Receivables  as  set
forth  in  Section  2.4(e), 9.2, 10.2(a), 12.1  or  12.2  of  the
Agreement shall, unless otherwise specified in the Agreement,  be
equal  to  the sum of the Class A Invested Amount,  the  Class  B
Invested  Amount, the Class C Invested Amount  and  the  Class  D
Invested  Amount  plus  any accrued and unpaid  interest  on  the
Certificates   and  other  Facilities  Costs  plus   all   unpaid
Reimbursement  Amounts through the day prior to the  Distribution
Date on which the final distribution occurs.

     SECTION  4.      Delivery and Payment for the Series  1999-1
Certificates.   The  Transferor shall  execute  and  deliver  the
Class  A  Certificates, the Class B Certificates and the Class  E
Certificates to the Trustee for authentication in accordance with
Section  6.1  of  the Agreement. The Trustee  shall  deliver  the
Class  A  Certificates, the Class B Certificates and the Class  E
Certificates  to  or  upon  the  order  of  the  Transferor  when
authenticated in accordance with Section 6.2 of the Agreement.

     SECTION   5.       Form   of  Delivery  of   Series   1999-1
Certificates.

     (a)  The  Class A Certificates and the Class B  Certificates
shall  be delivered in the form and in such minimum denominations
specified in the applicable Issuance Supplement.

     (b)   On  the  closing date, each purchaser of the  Class  C
Certificates   and   the  Class  D  Certificates   will   receive
confirmation of its interest in the applicable Certificates.

     (c)  The  Class C Certificates and the Class D  Certificates
shall  be  issued  in  uncertificated form  in  denominations  of
$2,000,000 and greater integral multiples of $1,000. The Class  E
Certificates  shall  be delivered as Registered  Certificates  as
provided  in  Section 6.1 of the Agreement and not as  Book-Entry
Certificates.

     (d)   The  Class C Certificates and the Class D Certificates
shall  be  entitled  to the benefits of the  Agreement  and  this
Series  Supplement  and  shall be valid for  all  purposes,  upon
receipt by the Trustee of a written instruction of the Transferor
to issue the Class C Certificates and the Class D Certificates in
the  names  and  in  the  principal  amounts  specified  in  such
instruction,  the  entry of such information  in  the  Book-Entry
Register by the Transfer Agent and Registrar and the delivery  of
confirmations  of  issuance of the Class C Certificates  and  the
Class   D  Certificates  by  the  Transfer  Agent  and  Registrar
substantially in the form of Exhibit D hereto. Such confirmations
shall  be  conclusive evidence that the Class C Certificates  and
the  Class  D  Certificates have been duly issued  and  delivered
hereunder.  All  the  Class  C  Certificates  and  the  Class   D
Certificates shall be dated the date of the making  of  an  entry
relating  to the issuance or transfer thereof, as applicable,  in
the Book-Entry Register.

     (e)  On  the Closing Date, the Transfer Agent and  Registrar
shall  make  entries  in  the Book-Entry Register  and  to  issue
confirmations of the issuance of the Class C Certificates and the
Class D Certificates that are issued upon original issuance to or
upon  the  order  of  the  Transferor  against  payment  to   the
Transferor of the purchase price thereof.

     (f) References in the Agreement or in this Series Supplement
to  the "authentication of the Investor Certificates" or words to
similar  effect  shall, with respect to the Class C  Certificates
and the Class D Certificates, be deemed to refer to the making of
appropriate  entries by the Transfer Agent and Registrar  in  the
Book-Entry Register to evidence the issuance or transfer  of  the
Class C Certificates or the Class D Certificates.

     (g)  The Transfer Agent and Registrar shall provide for  the
registration  of  the  Class  C  Certificates  and  the  Class  D
Certificates and of transfers thereof in the Book-Entry  Register
as  provided in Section 6.3(a) of the Agreement with  respect  to
Investor Certificates that are Registered Certificates; provided,
that  (a)  in  lieu of surrender of an Investor  Certificate  for
registration  of transfer, transfers of Class C Certificates  and
the Class D Certificates shall be effected as provided herein and
(b)  authentication requirements shall not be applicable  to  the
Class  C Certificates and the Class D Certificates. Ownership  of
Class  C  Certificates  and  the Class  D  Certificates  will  be
evidenced solely by entries in the Book-Entry Register maintained
by the Transfer Agent and Registrar on behalf of the Trust.

     (h)  The  Transfer Agent and Registrar shall record (i)  the
date,  principal  amount  and transferee  with  respect  to  each
transfer  of an interest in the Class C Certificates or  Class  D
Certificates,  as applicable, (ii) the date and  amount  of  each
payment  of principal of and interest on the Class C Certificates
and  the  Class  D Certificates, (iii) for each Interest  Accrual
Period  the Class C Certificate Rate or Class D Certificate  Rate
(as  applicable) applicable to such Interest Accrual  Period,  in
the  Book-Entry Register in such manner as is customary  for  the
Transfer  Agent and Registrar. The Transfer Agent  and  Registrar
will  not  be  required  to  register the  transfer  of  Class  C
Certificates and the Class D Certificates for a period of fifteen
days  preceding the due date for any payment with respect to  the
Class  C Certificates and the Class D Certificates. A certificate
of  an officer of the Transfer Agent and Registrar, setting forth
in   reasonable   detail  the  information  so  recorded,   shall
constitute,  with  respect to each Class C  Certificateholder  or
Class  D  Certificateholder, prima facie evidence of the accuracy
of  the  information so recorded; provided, that the  failure  to
make  any  such  recording  shall  not  in  any  way  affect  the
obligations of the Trust to make distributions in respect of  the
Class  C  Certificates and the Class D Certificates  as  provided
herein  and  in the Agreement and this Series Supplement  or  the
obligations of the Transferor or the Servicer under the Agreement
or  hereunder;  provided, further, that  the  obligation  of  the
Transfer Agent and Registrar to record such information shall not
affect  the  rights of any Class C Certificateholder or  Class  D
Certificateholder to transfer such interest, except that (A)  any
such  transfer,  and the right to receive principal  or  interest
hereunder,  shall  be  subject to and conditioned  upon  the  due
recordation  of  such transfer, (B) such transfer  shall  not  be
effective  prior to such recordation, and (C) the Transfer  Agent
and  Registrar  may require a person attempting to transfer  such
interest to deliver to the Transfer Agent and Registrar  a  fully
executed  Investment Letter in the form set forth  in  Exhibit  F
executed  by  the  transferee, and the  written  consent  of  the
Transferor,  failing  delivery of which the  Transfer  Agent  and
Registrar  may  refuse to register any transfer and  no  transfer
shall be deemed to have occurred. Each Person so recorded as  the
owner  of  an  interest as described herein shall be  deemed  and
treated  as the owner thereof for all purposes, and none  of  the
Trust,  the  Trustee,  the Transferor,  the  Transfer  Agent  and
Registrar or any other Person shall be affected by notice to  the
contrary.    A   Class   C   Certificateholder   or    Class    D
Certificateholder  may  request  that  the  Transfer  Agent   and
Registrar  issue a statement showing such Holder's  ownership  of
Class C Certificates and the Class D Certificates as shown on the
Book-Entry Register.

     (i)  Transfers  of  Class C Certificates  and  the  Class  D
Certificates  may  be  effected only through appropriate  entries
made  in the Book-Entry Register, and subject to the restrictions
on  transfer  of  the  Class  C  Certificates  and  the  Class  D
Certificates  described  herein. Class  C  Certificates  and  the
Class  D Certificates will be transferable at the office  of  the
Transfer Agent and Registrar by presenting in writing (which  may
be  facsimile) a properly completed transfer request in the  form
attached   hereto   as  Exhibit  E  together   with   any   other
documentation   required  hereunder  (including  the   Investment
Letter).

     (j)  The Trustee, the Paying Agent, the Transfer Agent,  the
Insurer and Registrar and any agent of any of them may, prior  to
due  presentation of a request to transfer Class  C  Certificates
and  the  Class D Certificates on the Book-Entry Register,  treat
the  Person  in whose name Class C Certificates and the  Class  D
Certificates  are  registered  as  the  owner  of  such  Class  C
Certificates  and  the Class D Certificates for  the  purpose  of
receiving distributions pursuant to the terms hereof and for  all
other  purposes whatsoever; and none of the Trustee,  the  Paying
Agent, the Transfer Agent, the Insurer and Registrar or any agent
of  any  of them shall be affected by any notice to the contrary.
Notwithstanding the foregoing, in determining whether the Holders
of  the  requisite Investor Certificates have given any  request,
demand, authorization, direction, notice, consent or waiver under
the Agreement or hereunder, Class C Certificates and the Class  D
Certificates  owned by any of the Transferor, the  Servicer,  any
other  Holder  of a Transferor Certificate, the  Trustee  or  any
Affiliate  thereof  shall be disregarded and  deemed  not  to  be
outstanding,  except  that, in determining  whether  the  Trustee
shall  be  protected  in relying upon any such  request,  demand,
authorization, direction, notice, consent or waiver, only Class C
Certificates  and  the  Class  D Certificates  that  the  Trustee
actually  knows to be so owned shall be so disregarded.  Class  C
Certificates and the Class D Certificates so owned that have been
pledged  in  good  faith  shall not be  disregarded  and  may  be
regarded  as  outstanding  if  the  pledgee  establishes  to  the
satisfaction of the Trustee the pledgee's right to  so  act  with
respect to such Class C Certificates and the Class D Certificates
and  that  the  pledgee is not the Transferor, the Servicer,  any
other  Holder of the Transferor Certificate, the Trustee  or  any
Affiliate thereof.

     (k)  The  provisions  of the Agreement  relating  to  Bearer
Certificates,  Book-Entry  Certificates,  notices   to   Clearing
Agencies,  Definitive Certificates and Global Certificates  shall
not  be  applicable to the Class C Certificates and the  Class  D
Certificates.

     (l)  All rights of action and claims under the Agreement  or
the  Class  C  Certificates and the Class D Certificates  may  be
prosecuted  and enforced by the Trustee without the  registration
of  the Class C Certificates and the Class D Certificates in  the
name  of  the  Trustee  or  the  possession  of  any  receipt  or
confirmation relating to any of the Class C Certificates and  the
Class  D Certificates or the production thereof in any proceeding
relating  thereto,  and  any such proceeding  instituted  by  the
Trustee shall be brought in its own name as trustee.

     (m)  Notwithstanding  Section 12.3 of the  Agreement,  final
payment with respect to the Class C Certificates and the Class  D
Certificates shall be made to the Class C Certificateholders  and
Class  D  Certificateholders, as applicable, as  of  the  related
Record  Date.  The  Trustee  will provide  notice  of  the  final
distribution  in  respect of the Class  C  Certificates  and  the
Class  D  Certificates  to  the Class  C  Certificateholders  and
Class D Certificateholders, as applicable, mailed not later  than
the fifth day of the month of such final distribution.

     (n) The ownership and transfer, sale or other assignment  of
any  interest  in  the  Class  C Certificates  and  the  Class  D
Certificates, as applicable, shall be subject to the restrictions
described in Section 12.

     SECTION  6.     Article IV of Agreement.  Sections 4.l,  4.2
and 4.3 of the Agreement shall read in their entirety as provided
in  the  Agreement.   Article  IV of the  Agreement  (except  for
Sections 4.1, 4.2 and 4.3 thereof) shall read in its entirety  as
follows  and  shall  be  applicable only  to  the  Series  1999-1
Certificates:

                      ARTICLE IV

           RIGHTS OF CERTIFICATEHOLDERS AND
      ALLOCATION AND APPLICATION OF COLLECTIONS

     Section  4.4     Rights of Certificateholders.   The  Series
1999-1  Certificates shall represent undivided interests  in  the
Trust,  consisting  of  the  right  to  receive,  to  the  extent
necessary  to  make the required payments with  respect  to  such
Series  1999-1  Certificates at the  times  and  in  the  amounts
specified   in  this  Agreement,  (a)  the  Floating   Allocation
Percentage  and  Fixed Allocation Percentage (as applicable  from
time to time) of Collections available in the Collection Account,
(b)  funds allocable to the Series 1999-1 Certificates on deposit
in  the  Equalization Account and (c) funds  on  deposit  in  the
Interest   Funding  Account,  the  Principal  Account   and   the
Distribution Account.  The Class B Invested Amount, the  Class  C
Invested  Amount, the Class D Invested Amount  and  the  Class  E
Invested   Amount  shall  be  subordinated   to   the   Class   A
Certificates; the Class C Invested Amount, the Class  D  Invested
Amount  and the Class E Invested Amount shall be subordinated  to
the  Class  B Certificates; the Class D Invested Amount  and  the
Class  E  Invested Amount shall be subordinated to  the  Class  C
Certificates;   and  the  Class  E  Invested  Amount   shall   be
subordinated  to the Class D Certificates, in each  case  to  the
extent provided in this Article IV.

     Section  4.5     Collections  and Allocation.  The  Servicer
shall apply or shall instruct the Trustee in writing to apply all
funds  on  deposit in the Collection Account and the Equalization
Account  allocable  to  the Series 1999-1 Certificates,  and  all
funds  on  deposit in the Interest Funding Account, the Principal
Account  and the Distribution Account maintained for this Series,
as  described  in this Article IV.  The allocations  to  be  made
pursuant  to  this  Article IV also apply to  deposits  into  the
Collection  Account  that are treated as  Collections,  including
Adjustment  Payments, payment of the reassignment price  pursuant
to  Section 2.4(e) of the Agreement and proceeds from  the  sale,
disposition or liquidation of the Receivables pursuant to Section
9.2, 10.2(a), 12.1 or 12.2 of the Agreement and Section 3 of this
Series Supplement, such deposits to be treated as Collections and
to  be  allocated  as  Finance Charge  Receivables  or  Principal
Receivables as provided in the Agreement.

     Section  4.6    Determination of Monthly Interest.  (a)  The
amount  of  monthly interest (the "Class A Interest") payable  on
the  Class  A Certificates on each Distribution Date shall  equal
the  sum of (x) for any Class A VFCs, the amount specified in the
applicable  Issuance Supplement and (y) for  any  other  Class  A
Certificates,  the  product  of  (i)  the  applicable   Class   A
Certificate  Rate,  (ii) the principal balance  of  the  Class  A
Certificates as of the close of business on the first day of  the
related  Interest  Accrual  Period  and  (iii)  a  fraction,  the
numerator of which is the number of days in the Interest  Accrual
Period  and  the denominator of which is 360; provided  that  the
Class A Interest for the first Distribution Date for any Class  A
Certificates   may  be  specified  in  the  applicable   Issuance
Supplement.

     On  the Determination Date preceding each Distribution Date,
the  Servicer  shall determine an amount (the "Class  A  Carrying
Cost  Shortfall") equal to the excess, if any,  of  (x)  the  sum
of  the Class A Interest and the Senior Facilities Costs relating
to  the  Class  A  Certificates for the Distribution  Date,  over
(y)   the   amount  available  to  be  paid  to   the   Class   A
Certificateholders in respect of such Class A Interest  and  such
Senior Facilities Costs on such Distribution Date. If there is  a
Class  A Carrying Cost Shortfall with respect to any Distribution
Date,  an additional amount ("Class A Additional Interest") shall
be  payable  as  provided  herein with respect  to  the  Class  A
Certificates   on   each   Distribution   Date   following   such
Distribution  Date,  to and including the  Distribution  Date  on
which such Class A Carrying Cost Shortfall is paid to the Class A
Certificateholders  in  full. Class A Additional  Interest  shall
accrue  on  the  balance of the Class A Carrying  Cost  Shortfall
relating  to any Class A Certificates at the applicable  Class  A
Certificate Rate (or such other rate as may be specified  in  the
applicable  Issuance  Supplement)  during  the  related  Interest
Accrual  Period,  on  the basis of the number  of  days  in  that
Interest  Accrual Period and a year of 360 days.  Notwithstanding
anything  to  the  contrary herein, Class A  Additional  Interest
shall  be  payable  or distributed to Class A  Certificateholders
only to the extent permitted by applicable law.

     (b)  The amount of monthly interest (the "Class B Interest")
payable  on  the  Class B Certificates on each Distribution  Date
shall  equal  the  sum of (x) for any Class B  VFCs,  the  amount
specified in the applicable Issuance Supplement and (y)  for  any
other  Class  B  Certificates, the product of (i) the  applicable
Class B Certificate Rate, (ii) the principal balance of the Class
B  Certificates as of the close of business on the first  day  of
the  related  Interest Accrual Period and (iii) a  fraction,  the
numerator of which is the number of days in the Interest  Accrual
Period  and  the denominator of which is 360; provided  that  the
Class B Interest for the first Distribution Date for any Class  B
Certificates   may  be  specified  in  the  applicable   Issuance
Supplement.

     On  the Determination Date preceding each Distribution Date,
the  Servicer  shall determine an amount (the "Class  B  Carrying
Cost  Shortfall") equal to the excess, if any, of (x) the sum  of
the Class B Interest and the Senior Facilities Costs relating  to
the  Class B Certificates for the Distribution Date, over (y) the
amount available to be paid to the Class B Certificateholders  in
respect of such Class B Interest and such Senior Facilities Costs
on  such  Distribution Date. If there is a Class B Carrying  Cost
Shortfall  with respect to any Distribution Date,  an  additional
amount  ("Class  B  Additional Interest")  shall  be  payable  as
provided herein with respect to the Class B Certificates on  each
Distribution  Date  following  such  Distribution  Date,  to  and
including  the Distribution Date on which such Class  B  Carrying
Cost Shortfall is paid to the Class B Certificateholders in full.
Class  B Additional Interest shall accrue on the balance  of  the
Class  B  Carrying  Cost  Shortfall  relating  to  any  Class   B
Certificates at the applicable Class B Certificate Rate (or  such
other  rate  as  may  be  specified in  the  applicable  Issuance
Supplement)  during the related Interest Accrual Period,  on  the
basis of the number of days in that Interest Accrual Period and a
year  of  360  days.  Notwithstanding anything  to  the  contrary
herein,   Class  B  Additional  Interest  shall  be  payable   or
distributed  to  Class B Certificateholders only  to  the  extent
permitted by applicable law.

     (c)  The amount of monthly interest (the "Class C Interest")
payable  on  the  Class C Certificates on each Distribution  Date
shall equal the product of (i) the applicable Class C Certificate
Rate,  (ii) the principal balance of the Class C Certificates  as
of the close of business on the first day of the related Interest
Accrual  Period and (iii) a fraction, the numerator of  which  is
the  number  of  days  in  the Interest Accrual  Period  and  the
denominator of which is 360.

     On  the Determination Date preceding each Distribution Date,
the  Servicer  shall determine an amount (the "Class  C  Interest
Shortfall")  equal  to the excess, if any, of  (x)  the  Class  C
Interest for the Distribution Date, over (y) the amount available
to  be paid to the Class C Certificateholders in respect of  such
Class C Interest on such Distribution Date. If there is a Class C
Interest  Shortfall  with respect to any  Distribution  Date,  an
additional  amount  ("Class  C  Additional  Interest")  shall  be
payable   as  provided  herein  with  respect  to  the  Class   C
Certificates   on   each   Distribution   Date   following   such
Distribution  Date,  to and including the  Distribution  Date  on
which  such  Class  C  Interest Shortfall  is  paid  to  Class  C
Certificateholders  in  full, equal to the  product  of  (A)  the
applicable  Class C Certificate Rate, (B) such Class  C  Interest
Shortfall  remaining unpaid and (C) a fraction, the numerator  of
which  is  the  number  of days in the related  Interest  Accrual
Period  and  the  denominator of which  is  360.  Notwithstanding
anything  to  the  contrary herein, Class C  Additional  Interest
shall  be  payable  or distributed to Class C  Certificateholders
only to the extent permitted by applicable law.

     (d)  The amount of monthly interest (the "Class D Interest")
payable  on  the  Class D Certificates on each Distribution  Date
shall equal the product of (i) the applicable Class D Certificate
Rate,  (ii) the principal balance of the Class D Certificates  as
of the close of business on the first day of the related Interest
Accrual  Period and (iii) a fraction, the numerator of  which  is
the  number  of  days  in  the Interest Accrual  Period  and  the
denominator of which is 360.

     On  the Determination Date preceding each Distribution Date,
the  Servicer  shall determine an amount (the "Class  D  Interest
Shortfall")  equal  to the excess, if any, of  (x)  the  Class  D
Interest for the Distribution Date, over (y) the amount available
to  be paid to the Class D Certificateholders in respect of  such
Class D Interest on such Distribution Date (including pursuant to
Section  4.16  and  the Policy). If there is a Class  D  Interest
Shortfall  with respect to any Distribution Date,  an  additional
amount  ("Class  D  Additional Interest")  shall  be  payable  as
provided herein with respect to the Class D Certificates on  each
Distribution  Date  following  such  Distribution  Date,  to  and
including  the Distribution Date on which such Class  D  Interest
Shortfall is paid to Class D Certificateholders in full, equal to
the  product  of  (A)  the applicable Class D  Certificate  Rate,
(B)  such Class D Interest Shortfall remaining unpaid and  (C)  a
fraction,  the numerator of which is the number of  days  in  the
related  Interest Accrual Period and the denominator of which  is
360.  Notwithstanding anything to the contrary  herein,  Class  D
Additional  Interest shall be payable or distributed to  Class  D
Certificateholders  only  to the extent permitted  by  applicable
law.

     Section  4.7     Determination  of  Principal  Amounts.   No
principal   shall   be  distributable  on   the   Series   1999-1
Certificates during the Revolving Period except that payments  of
principal  may be made on any Class A VFCs and Class  B  VFCs  as
specified  in  the  applicable Issuance Supplements.  During  the
Scheduled  Amortization Period or the Rapid Amortization  Period,
the  amount of principal distributable on each Distribution  Date
shall be determined as follows:

     (a)        The amount of monthly principal distributable  on
all   or  any  portion  of  the  Class  A  Certificates  on  each
Distribution   Date   or  required  to  be  deposited   into   an
Accumulation  Account ("Class A Principal"), beginning  with  the
Distribution  Date  following the month in  which  the  Scheduled
Amortization  Period  or,  if  earlier,  the  Rapid  Amortization
Period,  begins, shall be equal to the least of (i) the Available
Principal Collections with respect to the related Monthly Period,
(ii)  for  each  Distribution Date with respect to the  Scheduled
Amortization  Period,  the  amount specified  in  the  applicable
Issuance  Supplement  and (iii) for each Distribution  Date  with
respect  to  the Rapid Amortization Period, the Class A  Invested
Amount prior to any distributions on such Distribution Date.

     (b)   The amount of monthly principal distributable  on  the
Class  B  Certificates (the "Class B Principal")  shall  be  zero
until the Distribution Date that is the Class B Principal Payment
Commencement  Date  and  on  such  Distribution  Date  and   each
Distribution  Date thereafter shall equal the least  of  (i)  the
amount specified in the applicable Issuance Supplement, (ii)  the
excess,  if any, of (A) the Available Principal Collections  with
respect  to  the  related Monthly Period, over (B)  any  Class  A
Principal  for  such Distribution Date, and  (iii)  the  Class  B
Invested Amount (after taking into account any adjustments to  be
made  on such Distribution Date pursuant to Section 4.11) on such
Distribution Date.

     (c)   The amount of monthly principal distributable  on  the
Class  C  Certificates (the "Class C Principal")  shall  be  zero
until the Distribution Date that is the Class C Principal Payment
Commencement  Date  and  on  such  Distribution  Date  and   each
Distribution Date thereafter shall equal the lesser  of  (i)  the
excess,  if any, of (A) the Available Principal Collections  with
respect  to  the  related Monthly Period, over (B)  any  Class  A
Principal  and Class B Principal for such Distribution Date,  and
(ii)  the Class C Invested Amount (after taking into account  any
adjustments  to  be made on such Distribution  Date  pursuant  to
Section 4.11) on such Distribution Date.

     (d)   The amount of monthly principal distributable  on  the
Class  D  Certificates (the "Class D Principal")  shall  be  zero
until the Distribution Date that is the Class D Principal Payment
Commencement  Date  and  on  such  Distribution  Date  and   each
Distribution Date thereafter shall equal the lesser  of  (i)  the
excess,  if any, of (A) the Available Principal Collections  with
respect  to  the  related Monthly Period, over (B)  any  Class  A
Principal,  Class  B  Principal and Class C  Principal  for  such
Distribution  Date, and (ii) the Class D Invested  Amount  (after
taking   into  account  any  adjustments  to  be  made  on   such
Distribution  Date pursuant to Section 4.11) on such Distribution
Date.

     (e)   The amount of monthly principal distributable  on  the
Class  E  Certificates (the "Class E Principal")  shall  be  zero
until the Distribution Date that is the Class E Principal Payment
Commencement  Date  and  on  such  Distribution  Date  and   each
Distribution Date thereafter shall equal the lesser  of  (i)  the
excess,  if any, of (A) the Available Principal Collections  with
respect  to  the  related Monthly Period, over (B)  any  Class  A
Principal,  Class  B  Principal, Class C Principal  and  Class  D
Principal  for  such  Distribution Date, and  (ii)  the  Class  E
Invested Amount (after taking into account any adjustments to  be
made  on such Distribution Date pursuant to Section 4.11) on such
Distribution Date.

     Section  4.8     Application  of Funds  on  Deposit  in  the
Collection  Account for the Certificates.  (a) On  each  Business
Day, the Servicer shall deliver to the Trustee and the Insurer  a
Daily  Report in which it shall instruct the Trustee to, and  the
Trustee,  acting  in  accordance with  such  instructions  shall,
withdraw  the Available Series 1999-1 Finance Charge  Collections
from  the  Collection Account and apply the same as  follows,  in
each  case  to  the extent of such funds available  after  giving
effect to all of the prior applications:

          (i)  Class A Carrying Costs.  Deposit into the Interest
     Funding Account for distribution on the related Distribution
     Date  to  the Class A Certificateholders an amount equal  to
     the  excess of (A) the Class A Carrying Cost Target for  the
     related Distribution Date, over (B) any amounts with respect
     thereto  previously  deposited  into  the  Interest  Funding
     Account  on  any  prior  Business Day  during  such  Monthly
     Period. If the actual Class A Carrying Costs for the related
     Distribution  Date can be determined with certainty  by  the
     Servicer, and the aggregate amount of funds so deposited  in
     any Monthly Period exceeds the actual Class A Carrying Costs
     for  the  related Distribution Date, then the  excess  funds
     shall  be  withdrawn from the Interest Funding  Account  and
     applied to the items specified below in this Section  4.8(a)
     with  respect  to  the related Monthly  Period  or  Interest
     Accrual Period.

          (ii) Class B Carrying Costs.  Deposit into the Interest
     Funding Account for distribution on the related Distribution
     Date  to  the Class B Certificateholders an amount equal  to
     the  excess of (A) the Class B Carrying Cost Target for  the
     related Distribution Date, over (B) any amounts with respect
     thereto  previously  deposited  into  the  Interest  Funding
     Account  on  any  prior  Business Day  during  such  Monthly
     Period.  If   the  actual  Class B Carrying  Costs  for  the
     related  Distribution Date can be determined with  certainty
     by  the  Servicer,  and the aggregate  amount  of  funds  so
     deposited in any Monthly Period exceeds the actual  Class  B
     Carrying  Costs for the related Distribution Date, then  the
     excess  funds  shall be withdrawn from the Interest  Funding
     Account  and  applied to the items specified below  in  this
     Section 4.8(a) with respect to the related Monthly Period or
     Interest Accrual Period.

          (iii)     Investor Servicing Fee.  On each Business Day
     on  which  SRI  or an Affiliate of SRI is not the  Servicer,
     distribute to the Servicer an amount equal to the excess  of
     (A)  the  Servicing Fee for such Monthly  Period,  plus  any
     unpaid  Servicing  Fees  from prior  Monthly  Periods,  over
     (B)  any amounts with respect thereto previously distributed
     to  the  Servicer  on  any prior Business  Day  during  such
     Monthly Period.

          (iv)  Class  A  Investor Default  Amount  and  Class  A
     Uncovered  Dilution  Amount. During  the  Revolving  Period,
     treat  as  Shared  Principal  Collections,  and  during  the
     Amortization  Period, deposit in the Principal  Account  and
     treat as part of the Available Principal Collections on  the
     related  Distribution Date, an amount equal to  the  sum  of
     (A)  the  Class A Investor Default Amount for such  Business
     Day, plus (B) any unpaid Class A Investor Default Amount for
     any  previous Business Day during such Monthly Period,  plus
     (C)  the Class A Uncovered Dilution Amount for such Business
     Day,  plus (D) any unpaid Class A Uncovered Dilution  Amount
     for any previous Business Day during such Monthly Period.

          (v)   Reimbursement  of  Class A Investor  Charge-Offs.
     During  the  Revolving  Period, treat  as  Shared  Principal
     Collections and during the Amortization Period,  deposit  in
     the  Principal  Account and treat as part of  the  Available
     Principal Collections on the related Distribution  Date,  an
     amount   equal   to  the  unreimbursed  Class   A   Investor
     Charge-Offs.

          (vi)  Class  B  Investor Default  Amount  and  Class  B
     Uncovered  Dilution  Amount. During  the  Revolving  Period,
     treat  as  Shared  Principal  Collections,  and  during  the
     Amortization  Period, deposit in the Principal  Account  and
     treat as part of the Available Principal Collections on  the
     related  Distribution Date, an amount equal to  the  sum  of
     (A)  the  Class B Investor Default Amount for such  Business
     Day, plus (B) any unpaid Class B Investor Default Amount for
     any  previous Business Day during such Monthly Period,  plus
     (C)  the Class B Uncovered Dilution Amount for such Business
     Day,  plus (D) any unpaid Class B Uncovered Dilution  Amount
     for any previous Business Day during such Monthly Period.

          (vii)        Reimbursement   of   Class   B    Investor
     Charge-Offs.   During the Revolving Period, treat as  Shared
     Principal  Collections and during the  Amortization  Period,
     deposit  in the Principal Account and treat as part  of  the
     Available  Principal Collections on the related Distribution
     Date,  an  amount equal to the unreimbursed Class B Investor
     Charge-Offs.

          (viii)     Class C Interest.  Deposit into the Interest
     Funding Account for distribution on the related Distribution
     Date  to  the Class C Certificateholders an amount equal  to
     the  excess of (A) the sum of Class C Interest and Carryover
     Class  C  Interest for the related Distribution  Date,  over
     (B)  any  amounts with respect thereto previously  deposited
     into the Interest Funding Account on any prior Business  Day
     during such Monthly Period.

          (ix)  Class  C  Investor Default  Amount  and  Class  C
     Uncovered  Dilution  Amount. During  the  Revolving  Period,
     treat  as  Shared  Principal  Collections,  and  during  the
     Amortization  Period, deposit in the Principal  Account  and
     treat as part of the Available Principal Collections on  the
     related  Distribution Date, an amount equal to  the  sum  of
     (A)  the  Class C Investor Default Amount for such  Business
     Day, plus (B) any unpaid Class C Investor Default Amount for
     any  previous Business Day during such Monthly Period,  plus
     (C)  the Class C Uncovered Dilution Amount for such Business
     Day,  plus (D) any unpaid Class C Uncovered Dilution  Amount
     for any previous Business Day during such Monthly Period.

          (x)   Reimbursement  of  Class C Investor  Charge-Offs.
     During  the  Revolving  Period, treat  as  Shared  Principal
     Collections and during the Amortization Period,  deposit  in
     the  Principal  Account and treat as part of  the  Available
     Principal Collections on the related Distribution  Date,  an
     amount   equal   to  the  unreimbursed  Class   C   Investor
     Charge-Offs.

          (xi)  Class  D  Interest.  Deposit  into  the  Interest
     Funding Account for distribution on the related Distribution
     Date first to the Class D Certificateholders and then to the
     Insurer (as Insurance Premium and Reimbursement Amounts), as
     applicable, an amount equal to the excess of (A) the sum  of
     (X)  Class D Interest and Carryover Class D Interest for the
     related Distribution Date, (Y) the Insurance Premium for the
     related   Distribution   Date  and   (Z)   any   outstanding
     Reimbursement  Amount,  over (B) any  amounts  with  respect
     thereto  previously  deposited  into  the  Interest  Funding
     Account  on  any  prior  Business Day  during  such  Monthly
     Period.

          (xii)      Class D Investor Default Amount and Class  D
     Uncovered  Dilution  Amount. During  the  Revolving  Period,
     treat  as  Shared  Principal  Collections,  and  during  the
     Amortization  Period, deposit in the Principal  Account  and
     treat as part of the Available Principal Collections on  the
     related  Distribution Date, an amount equal to  the  sum  of
     (A)  the  Class D Investor Default Amount for such  Business
     Day, plus (B) the unpaid Class D Investor Default Amount for
     any  previous Business Day during such Monthly Period,  plus
     (C)  the Class D Uncovered Dilution Amount for such Business
     Day,  plus  (D)  Class D Uncovered Dilution Amount  for  any
     previous Business Day during such Monthly Period.

          (xiii)       Reimbursement   of   Class   D    Investor
     Charge-Offs.  During the Revolving Period, treat  as  Shared
     Principal  Collections and during the  Amortization  Period,
     deposit  in the Principal Account and treat as part  of  the
     Available  Principal Collections on the related Distribution
     Date,  an  amount equal to the unreimbursed Class D Investor
     Charge-Offs.

          (xiv)      Class E Interest. Deposit into the  Interest
     Funding Account for distribution on the related Distribution
     Date  to  the Class E Certificateholders an amount equal  to
     the excess of (A) the sum of interest payable on the Class E
     Certificates and Carryover Class E Interest for the  related
     Distribution Date, over (B) any amounts with respect thereto
     previously  deposited into the Interest Funding  Account  on
     any prior Business Day during such Monthly Period.

          (xv)  Class  E  Investor Default  Amount  and  Class  E
     Uncovered  Dilution  Amount. During  the  Revolving  Period,
     treat  as  Shared  Principal  Collections,  and  during  the
     Amortization  Period, deposit in the Principal  Account  and
     treat as part of the Available Principal Collections on  the
     related  Distribution Date, an amount equal to  the  sum  of
     (A)  the  Class E Investor Default Amount for such  Business
     Day, plus (B) any unpaid Class E Investor Default Amount for
     any  previous Business Day during such Monthly Period,  plus
     (C)  the Class E Uncovered Dilution Amount for such Business
     Day, plus (D) any Class E Uncovered Dilution Amount for  any
     previous Business Day during such Monthly Period.

          (xvi)        Reimbursement   of   Class   E    Investor
     Charge-Offs.  During the Revolving Period, treat  as  Shared
     Principal  Collections and during the  Amortization  Period,
     deposit  in the Principal Account and treat as part  of  the
     Available  Principal Collections on the related Distribution
     Date,  an  amount equal to the unreimbursed Class E Investor
     Charge-Offs.

          (xvii)     Reserve  Account.   Apply  as  provided   in
     Section 4.17.

          (xviii)   Mezzanine Facilities Costs.  Deposit into the
     Interest  Funding Account an amount equal to  the  Mezzanine
     Facilities Costs for the related Distribution Date.

          (xix)      Spread Account. Apply as provided in Section
     4.16.

          (xx) Junior Facilities Costs. Deposit into the Interest
     Funding  Account  an amount equal to the  Junior  Facilities
     Costs for the related Distribution Date.

          (xxi)      Investor  Servicing  Fee.   If  SRI  or   an
     Affiliate of SRI is the Servicer, distribute to the Servicer
     the  sum of (A) the Investor Servicing Fee accrued since the
     preceding Business Day, plus (B) any Investor Servicing  Fee
     due   with  respect  to  any  prior  Business  Day  but  not
     distributed to the Servicer.

          (xxii)     Excess  Finance  Charge  Collections.    Any
     Available Series 1999-1 Finance Charge Collections remaining
     in  the  Collection  Account or amounts  released  from  the
     Interest Funding Account pursuant to the second sentence  of
     Section   4.8(a)(i)  or  (ii)  and  not  required  for   the
     applications  listed  in Sections 4.8(a)(ii)  through  (xxi)
     shall  be treated as Excess Finance Charge Collections,  and
     the  Servicer  shall direct the Trustee in writing  on  each
     Business  Day  to  make such amounts  available  to  pay  to
     Certificateholders  of  other  Series  to  the   extent   of
     shortfalls,   if   any,   in   amounts   payable   to   such
     Certificateholders from Finance Charge Collections (but  not
     from  Excess Finance Charge Collections) allocated  to  such
     other  Series; provided, however, that on any  Business  Day
     during  any  Rapid  Amortization Period, the  Trustee  shall
     deposit   any   Series  1999-1  Finance  Charge  Collections
     remaining  in  the  Collection  Account  and  any  remaining
     amounts  released from the Interest Funding Account pursuant
     to  the  second sentence of Section 4.8(a)(i) or (ii),  into
     the Interest Funding Account and shall add such funds to the
     Available Series 1999-1 Finance Charge Collections  on  each
     subsequent  Business Day in such Monthly  Period  until  the
     last  Business Day of the related Monthly Period,  when  the
     aggregate  amount of such remaining Available Series  1999-1
     Finance  Charge Collections shall be distributed  as  Excess
     Finance   Charge   Collections  in  accordance   with   this
     subsection (xxii) (without giving effect to this proviso).

     (b)  On each Business Day in the Revolving Period:

          (i)  Class A Principal Collections. Except as otherwise
     provided in any Issuance Supplement, funds on deposit in the
     Collection  Account  to the extent of  the  product  of  the
     Class   A   Floating  Allocation  Percentage  and  Principal
     Collections  with  respect to such  Business  Day  shall  be
     treated as Shared Principal Collections and applied pursuant
     to the written direction of the Servicer in the Daily Report
     for such Business Day.

          (ii)  Class  B, Class C, Class D and Class E  Principal
     Collections.  Except as otherwise provided in  any  Issuance
     Supplement,  funds on deposit in the Collection  Account  to
     the  extent  of the product of (i) the sum of  the  Class  B
     Floating   Allocation  Percentage,  the  Class  C   Floating
     Allocation  Percentage,  the  Class  D  Floating  Allocation
     Percentage  and  the Class E Floating Allocation  Percentage
     and (ii) Principal Collections with respect to such Business
     Day  shall  be  allocated and paid  to  the  Holder  of  the
     Exchangeable Transferor Certificate pursuant to (and subject
     to the limitations stated in) Section 4.3(b).

     Notwithstanding the foregoing: (x) amounts  payable  to  the
Holder  of  the Exchangeable Transferor Certificate  pursuant  to
this  subsection  4.8(b)(ii) shall instead be  deposited  in  the
Equalization  Account  to  the extent necessary  to  prevent  the
Transferor  Interest from being less than the Minimum  Transferor
Interest;  and  (y)  the  Holder of the  Exchangeable  Transferor
Certificate shall be required to make amounts allocated and  paid
to the Holder of the Exchangeable Transferor Certificate pursuant
to  this subsection 4.8(b)(ii) available for use in the following
priority: first as Reallocated Principal Collections, and  second
as  Shared  Principal Collections, in each  case  to  the  extent
needed for that purpose on the related Transfer Date.

     (c)   On  each  Business Day on and after  the  Amortization
Period  Commencement  Date  until the Monthly  Period  after  the
Monthly  Period in which sufficient funds are deposited into  the
Accumulation Account and Principal Account collectively to reduce
the Class A Adjusted Invested Amount and, if the Class B Expected
Final  Payment  Date is the same as the Class  A  Expected  Final
Payment  Date, the Class B Invested Amount to zero on the related
Distribution Date:

          (i) Class A Principal Collections. Funds on deposit  in
     the  Collection  Account to the extent  of  the  product  of
     (A)  the  Class A Fixed Allocation Percentage  and  (B)  the
     amount  of Principal Collections available in the Collection
     Account with respect to such Business Day shall (x) first be
     deposited  into the Principal Account until  the  amount  so
     deposited pursuant to subsections 4.8(c)(i), 4.8(c)(ii)  and
     4.8(c)(iii)  during  any Monthly Period equals  the  Monthly
     Principal  for  the  related  Distribution  Date   and   (y)
     thereafter be treated as Shared Principal Collections.

          (ii)  Class  B, Class C, Class D and Class E  Principal
     Collections. Funds on deposit in the Collection  Account  to
     the  extent  of the product of (A) the sum of  the  Class  B
     Fixed  Allocation  Percentage, the Class C Fixed  Allocation
     Percentage, the Class D Fixed Allocation Percentage and  the
     Class  E  Fixed Allocation Percentage and (B) the amount  of
     Principal  Collections available in the  Collection  Account
     with  respect  to  such  Business Day  shall  (x)  first  be
     deposited  into the Principal Account until  the  amount  so
     deposited pursuant to subsections 4.8(c)(i), 4.8(c)(ii)  and
     4.8(c)(iii)  during  any Monthly Period equals  the  Monthly
     Principal  for  the  related  Distribution  Date   and   (y)
     thereafter  be  allocated and paid  to  the  Holder  of  the
     Exchangeable Transferor Certificate pursuant to (and subject
     to the limitations stated in) Section 4.3(b).

          (iii) Series Transferor Principal Collections. If  such
     day  falls  in the Scheduled Amortization Period,  funds  on
     deposit  in  the Collection Account representing the  Series
     Transferor Principal Collections shall be deposited into the
     Principal Account until the amount so deposited pursuant  to
     subsections 4.8(c)(i), 4.8(c)(ii) and 4.8(c)(iii) during any
     Monthly  Period equals the Monthly Principal for the related
     Distribution   Date.   Any  additional   Series   Transferor
     Principal  Collections  for such  Monthly  Period  shall  be
     allocated  and  paid  to  the  Holder  of  the  Exchangeable
     Transferor  Certificate  pursuant to  (and  subject  to  the
     limitations stated in) Section 4.3(b).

     Notwithstanding the foregoing: (x) amounts  payable  to  the
Holder  of  the Exchangeable Transferor Certificate  pursuant  to
subsection   4.8(c)(ii)  shall  instead  be  deposited   in   the
Equalization  Account  to  the extent necessary  to  prevent  the
Transferor  Interest from being less than the Minimum  Transferor
Interest;  and  (y)  the  Holder of the  Exchangeable  Transferor
Certificate shall be required to make amounts allocated and  paid
to the Holder of the Exchangeable Transferor Certificate pursuant
to  subsection  4.8(c)(ii) available for  use  in  the  following
priority: first as Reallocated Principal Collections, and  second
as  Shared  Principal Collections, in each  case  to  the  extent
needed for that purpose on the related Transfer Date.

     (d)   On  each  Business Day on and after  the  Amortization
Period  Commencement Date and after the Monthly Period  in  which
sufficient funds are deposited into the Accumulation Account  and
the Principal Account collectively to reduce the Class A Adjusted
Invested  Amount and, if the Class B Expected Final Payment  Date
is the same as the Class A Expected Final Payment Date, the Class
B Invested Amount to zero on the related Distribution Date:

          (i) Investor Principal Collections. Funds on deposit in
     the  Collection  Account to the extent  of  the  product  of
     (A)  the  Fixed Allocation Percentage and (B) the amount  of
     Principal  Collections available in the  Collection  Account
     with  respect  to  such  Business Day  shall  (x)  first  be
     deposited  into the Principal Account until  the  amount  so
     deposited  pursuant to subsections 4.8(d)(i) and  4.8(d)(ii)
     during  any Monthly Period equals the Monthly Principal  and
     (y) thereafter be treated as Shared Principal Collections.

          (ii)  Series Transferor Principal Collections. If  such
     Business  Day  falls  in the Scheduled Amortization  Period,
     funds on deposit in the Collection Account representing  the
     Series  Transferor Principal Collections shall be  deposited
     into  the  Principal Account until the amount  so  deposited
     pursuant to subsections 4.8(d)(i) and 4.8(d)(ii) during  any
     Monthly  Period equals the Monthly Principal for the related
     Distribution   Date.   Any  additional   Series   Transferor
     Principal  Collections  for such  Monthly  Period  shall  be
     allocated  and  paid  to  the  Holder  of  the  Exchangeable
     Transferor  Certificate  pursuant to  (and  subject  to  the
     limitations stated in) Section 4.3(b).

     (e)   Prior  to  the Amortization Period Commencement  Date,
pursuant  to subsection 4.3(e) of the Agreement,  the  Transferor
may  at its option, or shall be required to, in each case to  the
extent  specified  in the applicable Issuance  Supplement,  apply
Shared Principal Collections, after the applications with respect
thereto specified in the provisions of subsection 4.3(e)  of  the
Agreement,  to  make  payments of principal or  deposits  to  the
Principal  Account with respect to the Class A  Certificates  and
Class  B Certificates.  Such Shared Principal Collections allocat
ed  to the Series 1999-1 Certificates may be applied on each Busi
ness  Day with respect to the Revolving Period, at the option  of
the  Transferor  and  in  an  amount  to  be  determined  by  the
Transferor,  to  make  deposits to  the  Principal  Account,  for
payment as provided in Sections 4.13 and 5.1.

     (f)  On the first Business Day following the occurrence of a
Portfolio  Imbalance Event, funds on deposit in the  Equalization
Account  shall, in accordance with written instructions from  the
Servicer, be deposited in the Principal Account and allocated  to
Series  1999-1  to the extent of the Series Portfolio  Correction
Distribution Amount.

     Section 4.9    Determination of Required Amounts.

     (a)   On each Business Day, the Servicer shall determine the
amount  (the "Daily Required Amount"), if any, by which  (x)  the
sum  of  (i)  the  Class A Carrying Cost Target for  the  related
Distribution Date, (ii) the Class B Carrying Cost Target for  the
related  Distribution  Date, (iii)  the  Servicing  Fee  for  the
current Monthly Period, plus any unpaid Servicing Fees from prior
Monthly Periods, (iv) the sum of (A) the Class A Investor Default
Amount  for  such  Business Day, plus  (B)  any  unpaid  Class  A
Investor Default Amount for any previous Business Day during such
Monthly  Period,  plus (C) the Class A Uncovered Dilution  Amount
for  such  Business  Day, plus (D) any unpaid Class  A  Uncovered
Dilution Amount for any previous Business Day during such Monthly
Period,  (v) any unreimbursed Class A Investor Charge-Offs,  (vi)
the  sum  of  (A)  the Class B Investor Default Amount  for  such
Business Day, plus (B) any unpaid Class B Investor Default Amount
for  any  previous Business Day during such Monthly Period,  plus
(C)  the Class B Uncovered Dilution Amount for such Business Day,
plus  (D)  any unpaid Class B Uncovered Dilution Amount  for  any
previous  Business  Day  during such Monthly  Period,  (vii)  any
unreimbursed  Class B Investor Charge-Offs,  (viii)  the  sum  of
Class  C  Interest  and any Carryover Class C  Interest  for  the
related  Distribution  Date, (ix) the sum  of  (A)  the  Class  C
Investor  Default  Amount for such Business  Day,  plus  (B)  any
unpaid  Class C Investor Default Amount for any previous Business
Day  during  such Monthly Period, plus (C) the Class C  Uncovered
Dilution  Amount  for  such Business Day,  plus  (D)  any  unpaid
Class  C Uncovered Dilution Amount for any previous Business  Day
during such Monthly Period, (x) any unreimbursed Class C Investor
Charge-Offs,  (xi)  the  sum of Class D Interest,  any  Carryover
Class   D   Interest,  the  Insurance  Premium  and  any   unpaid
Reimbursement  Amounts for the related Distribution  Date,  (xii)
the  sum  of  (A)  the Class D Investor Default Amount  for  such
Business Day, plus (B) the unpaid Class D Investor Default Amount
for  any  previous Business Day during such Monthly Period,  plus
(C)  the Class D Uncovered Dilution Amount for such Business Day,
plus  (D)  Class  D  Uncovered Dilution Amount for  any  previous
Business  Day during such Monthly Period, (xiii) any unreimbursed
Class  D  Investor Charge-Offs, (xiv) the sum of (A) the Class  E
Investor  Default  Amount for such Business  Day,  plus  (B)  any
unpaid  Class E Investor Default Amount for any previous Business
Day  during  such Monthly Period, plus (C) the Class E  Uncovered
Dilution  Amount  for such Business Day, plus  (D)  any  Class  E
Uncovered  Dilution Amount for any previous Business  Day  during
such  Monthly  Period,  (xv) any unreimbursed  Class  E  Investor
Charge-Offs  and  (xvi)  Mezzanine Facilities  Costs  and  Junior
Facilities Costs exceeds (y) the net amount applied with  respect
to  such  amounts  from  Available Series 1999-1  Finance  Charge
Collections on such Business Day and all prior Business  Days  in
the  same Monthly Period and applied pursuant to Section 4.10  on
all prior Business Days in the same Monthly Period.

     (b)    On  each  Determination  Date,  the  Servicer   shall
determine the amount (the "Monthly Class A Required Amount"),  if
any,  by  which  (x) the sum of (i) the sum of Class  A  Carrying
Costs  for  the  related  Distribution Date,  (ii)  the  Class  A
Floating  Allocation Percentage of the sum of the  Servicing  Fee
for  the  related Monthly Period, plus any unpaid Servicing  Fees
from  prior  Monthly Periods (the "Class A Servicing Fee  Share")
and  (iii)  Mezzanine Facilities Costs relating to  the  Class  A
Certificates, exceeds (y) the net amount deposited  with  respect
to  such  amounts  from  Available Series 1999-1  Finance  Charge
Collections,  Excess  Finance  Charge  Collections   and   Series
Transferor Finance Charge Collections pursuant to Sections 4.8(a)
and 4.10 during the related Monthly Period.

     (c)    On  each  Determination  Date,  the  Servicer   shall
determine the amount (the "Monthly Class B Required Amount"),  if
any,  by  which  (x) the sum of (i) the sum of Class  B  Carrying
Costs  for  the  related  Distribution Date,  (ii)  the  Class  B
Floating  Allocation Percentage of the sum of the  Servicing  Fee
for  the  related Monthly Period, plus any unpaid Servicing  Fees
from  prior  Monthly Periods (the "Class B Servicing Fee  Share")
and  (iii)  Mezzanine Facilities Costs relating to  the  Class  B
Certificates, exceeds (y) the net amount deposited  with  respect
to  such  amounts  from  Available Series 1999-1  Finance  Charge
Collections,  Excess  Finance  Charge  Collections   and   Series
Transferor Finance Charge Collections pursuant to Sections 4.8(a)
and 4.10 during the related Monthly Period.

     (d)    On  each  Determination  Date,  the  Servicer   shall
determine the amount (the "Monthly Class C Required Amount"),  if
any, by which (x) the sum of (i) the sum of Class C Interest  and
any Carryover Class C Interest for the related Distribution Date,
and (ii) the Class C Floating Allocation Percentage of the sum of
the Servicing Fee for the related Monthly Period, plus any unpaid
Servicing Fees from prior Monthly Periods (the "Class C Servicing
Fee Share"), exceeds (y) the net amount deposited with respect to
such   amounts  from  Available  Series  1999-1  Finance   Charge
Collections,  Excess  Finance  Charge  Collections   and   Series
Transferor Finance Charge Collections pursuant to Sections 4.8(a)
and 4.10 during the related Monthly Period.

     (e)    On  each  Determination  Date,  the  Servicer   shall
determine the amount (the "Monthly Class D Required Amount"),  if
any, by which (x) the sum of (i) the sum of Class D Interest, any
Carryover Class D Interest, the Insurance Premium and any  unpaid
Reimbursement  Amounts  for the related  Distribution  Date,  and
(ii)   the Class D Floating Allocation Percentage of the  sum  of
the Servicing Fee for the related Monthly Period, plus any unpaid
Servicing Fees from prior Monthly Periods (the "Class D Servicing
Fee Share"), exceeds (y) the net amount deposited with respect to
such   amounts  from  Available  Series  1999-1  Finance   Charge
Collections,  Excess  Finance  Charge  Collections   and   Series
Transferor Finance Charge Collections pursuant to Sections 4.8(a)
and 4.10 during the related Monthly Period.

     Section  4.10   Daily Applications of Excess Finance  Charge
Collections and Series Transferor Finance Charge Collections.  If
on  any  Business Day the Daily Required Amount is  greater  than
zero,  the Servicer shall apply Excess Finance Charge Collections
allocated  to Series 1999-1 and Series Transferor Finance  Charge
Collections  to cover the Daily Required Amount by applying  such
funds  to any uncovered amounts in the priority listed in Section
4.8(a).  In addition, if on any Business Day, the Daily  Required
Amount  is  greater  than  the amount of  Excess  Finance  Charge
Collections  allocated  to Series 1999-1  and  Series  Transferor
Finance  Charge  Collections, and any Finance Charge  Collections
allocable  to Series 1999-1 have been released to the  Transferor
on  any earlier Business Day in the same Monthly Period, then the
Transferor  shall make an amount equal to the amount so  released
(and not previously made available pursuant to this sentence)  to
cover  the  Daily Required Amount by applying such funds  to  any
uncovered amounts in the priority listed in Section 4.8(a).

     Excess  Finance Charge Collections allocated to  the  Series
1999-1  Certificates for any Business Day shall  mean  an  amount
equal  to  the  product of (x) Excess Finance Charge  Collections
available from all other Series for such Business Day and  (y)  a
fraction, the numerator of which is the Daily Required Amount for
such  Business Day and the denominator of which is the  aggregate
amount of shortfalls in required amounts or other amounts  to  be
paid  from  Finance Charge Collections for all  Series  for  such
Business Day.

     Section   4.11     Investor  Charge-Offs;  Reallocation   of
Principal Collections.

     (a)   On  or  before each Transfer Date, the Servicer  shall
take the following steps:

          (i)   The  Servicer  shall calculate  the  sum  of  the
     Class  E  Investor Default Amounts and the Class E Uncovered
     Dilution  Amounts  for  all Business  Days  in  the  related
     Monthly  Period  (such  sum being  the  "Class  E  Reduction
     Amount").  If  on any Transfer Date, the Class  E  Reduction
     Amount  for the prior Monthly Period exceeds the sum of  the
     amounts  allocated with respect thereto pursuant to Sections
     4.8(a)(xv) and 4.10 with respect to such Monthly Period, the
     Class  E  Invested Amount will be reduced by the  amount  of
     such excess, but not below zero, on such Transfer Date.  Any
     such  reduction  shall be taken into account  prior  to  any
     further reductions called for below.

          (ii)  The  Servicer  shall calculate  the  sum  of  the
     Class  D  Investor Default Amounts and the Class D Uncovered
     Dilution  Amounts  for  all Business  Days  in  the  related
     Monthly  Period  (such  sum being  the  "Class  D  Reduction
     Amount").  If  on any Transfer Date, the Class  D  Reduction
     Amount  for the prior Monthly Period exceeds the sum of  the
     amounts  allocated with respect thereto pursuant to Sections
     4.8(a)(xii)  and  4.10 with respect to such Monthly  Period,
     the Class E Invested Amount will be reduced by the amount of
     such  excess, but not below zero, on such Transfer Date.  If
     such reduction would cause the Class E Invested Amount to be
     a  negative  number,  the Class E Invested  Amount  will  be
     reduced  to  zero, and the Class D Invested Amount  will  be
     reduced  by the amount by which the Class E Invested  Amount
     would have been reduced below zero, but shall not be reduced
     below  zero  itself. Any such reduction shall be taken  into
     account prior to any further reductions called for below.

          (iii)      The Servicer shall calculate the sum of  the
     Class  C  Investor Default Amounts and the Class C Uncovered
     Dilution  Amounts  for  all Business  Days  in  the  related
     Monthly  Period  (such  sum being  the  "Class  C  Reduction
     Amount").  If  on any Transfer Date, the Class  C  Reduction
     Amount  for the prior Monthly Period exceeds the sum of  the
     amounts  allocated with respect thereto pursuant to Sections
     4.8(a)(ix) and 4.10 with respect to such Monthly Period, the
     Class  E  Invested Amount will be reduced by the  amount  of
     such  excess, but not below zero, on such Transfer Date.  If
     such reduction would cause the Class E Invested Amount to be
     a  negative  number,  the Class E Invested  Amount  will  be
     reduced  to  zero, and the Class D Invested Amount  will  be
     reduced  by the amount by which the Class E Invested  Amount
     would have been reduced below zero, but shall not be reduced
     below zero itself. If such reduction would cause the Class D
     Invested  Amount  to  be  a negative  number,  the  Class  D
     Invested  Amount will be reduced to zero, and  the  Class  C
     Invested  Amount will be reduced by the amount by which  the
     Class  D Invested Amount would have been reduced below zero,
     but  shall  not  be  reduced below  zero  itself.  Any  such
     reductions shall be taken into account prior to any  further
     reductions called for below.

          (iv)  The  Servicer  shall calculate  the  sum  of  the
     Class  B  Investor Default Amounts and the Class B Uncovered
     Dilution  Amounts  for  all Business  Days  in  the  related
     Monthly  Period  (such  sum being  the  "Class  B  Reduction
     Amount").  If  on any Transfer Date, the Class  B  Reduction
     Amount  for the prior Monthly Period exceeds the sum of  the
     amounts  allocated with respect thereto pursuant to Sections
     4.8(a)(vi) and 4.10 with respect to such Monthly Period, the
     Class  E  Invested Amount will be reduced by the  amount  of
     such  excess, but not below zero, on such Transfer Date.  If
     such reduction would cause the Class E Invested Amount to be
     a  negative  number,  the Class E Invested  Amount  will  be
     reduced  to  zero, and the Class D Invested Amount  will  be
     reduced  by the amount by which the Class E Invested  Amount
     would have been reduced below zero, but shall not be reduced
     below zero itself. If such reduction would cause the Class D
     Invested  Amount  to  be  a negative  number,  the  Class  D
     Invested  Amount will be reduced to zero, and  the  Class  C
     Invested  Amount will be reduced by the amount by which  the
     Class  D Invested Amount would have been reduced below zero,
     but  shall  not  be  reduced  below  zero  itself.  If  such
     reduction would cause the Class C Invested Amount  to  be  a
     negative number, the Class C Invested Amount will be reduced
     to  zero, and the Class B Invested Amount will be reduced by
     the  amount by which the Class C Invested Amount would  have
     been reduced below zero, but shall not be reduced below zero
     itself.  Any  such  reductions shall be taken  into  account
     prior to any further reductions called for below.

          (v)   The  Servicer  shall calculate  the  sum  of  the
     Class  A  Investor Default Amounts and the Class A Uncovered
     Dilution  Amounts  for  all Business  Days  in  the  related
     Monthly  Period  (such  sum being  the  "Class  A  Reduction
     Amount").  If  on any Transfer Date, the Class  A  Reduction
     Amount  for the prior Monthly Period exceeds the sum of  the
     amounts  allocated with respect thereto pursuant to Sections
     4.8(a)(iv) and 4.10 with respect to such Monthly Period, the
     Class  E  Invested Amount will be reduced by the  amount  of
     such  excess, but not below zero, on such Transfer Date.  If
     such reduction would cause the Class E Invested Amount to be
     a  negative  number,  the Class E Invested  Amount  will  be
     reduced  to  zero, and the Class D Invested Amount  will  be
     reduced  by the amount by which the Class E Invested  Amount
     would have been reduced below zero, but shall not be reduced
     below zero itself. If such reduction would cause the Class D
     Invested  Amount  to  be  a negative  number,  the  Class  D
     Invested  Amount will be reduced to zero, and  the  Class  C
     Invested  Amount will be reduced by the amount by which  the
     Class  D Invested Amount would have been reduced below zero,
     but  shall  not  be  reduced  below  zero  itself.  If  such
     reduction would cause the Class C Invested Amount  to  be  a
     negative number, the Class C Invested Amount will be reduced
     to  zero, and the Class B Invested Amount will be reduced by
     the  amount by which the Class C Invested Amount would  have
     been reduced below zero, but shall not be reduced below zero
     itself.  If such reduction would cause the Class B  Invested
     Amount  to be a negative number, the Class B Invested Amount
     will  be  reduced  to zero, and the Class A Invested  Amount
     will  be reduced by the amount by which the Class B Invested
     Amount would have been reduced below zero, but shall not  be
     reduced  below  zero  itself. Any such reductions  shall  be
     taken  into  account prior to any further reductions  called
     for below.

     (b)   On  or  before each Transfer Date, the Holder  of  the
Exchangeable  Transferor  Certificate  shall  deposit  into   the
Principal Account any Subordinated Principal Collections received
by  such  Holder  during  the related  Monthly  Period  that  are
required for purposes of reallocation as described below, and the
Servicer  shall  instruct the Trustee  in  writing  to,  and  the
Trustee in accordance with such instructions shall, withdraw from
the   Principal   Account   and  apply   Subordinated   Principal
Collections, to make the following distributions on such Transfer
Date  in  the following priority, in each case to the  extent  of
Subordinated Principal Collections available after giving  effect
to all of the prior distributions:

          (i)   an  amount equal to any positive Monthly Class  A
     Required  Amount  shall  be  applied  pursuant  to  Sections
     4.8(a)(i),  (iii) (but only to the extent  of  the  Class  A
     Servicing  Fee Share) and (xviii) (but only as to  Mezzanine
     Facilities Costs described in such Section relating  to  the
     Class A Certificates);

          (ii)   an amount equal to any positive Monthly Class  B
     Required  Amount  shall  be  applied  pursuant  to  Sections
     4.8(a)(ii),  (iii) (but only to the extent of  the  Class  B
     Servicing  Fee Share) and (xviii) (but only as to  Mezzanine
     Facilities Costs described in such Section relating  to  the
     Class B Certificates);

          (iii)  an amount equal to any positive Monthly Class  C
     Required  Amount  shall  be  applied  pursuant  to  Sections
     4.8(a)(iii) (but only to the extent of the Class C Servicing
     Fee Share) and (viii); and

          (iv)  an  amount equal to any positive Monthly Class  D
     Required  Amount  shall  be  applied  pursuant  to  Sections
     4.8(a)(iii) (but only to the extent of the Class D Servicing
     Fee Share) and (xi);

provided, that:

          (1)   the  aggregate  amount of Subordinated  Principal
     Collections distributed pursuant to clauses (i) through (iv)
     above  (the "Reallocated Principal Collections")  shall  not
     exceed  the sum of the Class B Invested Amount, the Class  C
     Invested Amount, the Class D Invested Amount and the Class E
     Invested  Amount, in each case as of the date of application
     after giving effect to any reductions in the Invested Amount
     made pursuant to Section 4.11(a) on such Transfer Date;

          (2)   the  aggregate  amount of Subordinated  Principal
     Collections  distributed pursuant to  clauses  (ii)  through
     (iv)  above shall not exceed the sum of the Class C Invested
     Amount, the Class D Invested Amount and the Class E Invested
     Amount after giving effect to any reductions in the Invested
     Amount  made  pursuant to Section 4.11(a) on  such  Transfer
     Date;

          (3)   the  aggregate  amount of Subordinated  Principal
     Collections distributed pursuant to clauses (iii)  and  (iv)
     above  shall  not  exceed the sum of the  Class  D  Invested
     Amount  and the Class E Invested Amount after giving  effect
     to  any  reductions in the Invested Amount made pursuant  to
     Section 4.11(a) on such Transfer Date; and

          (4)   the  aggregate  amount of Subordinated  Principal
     Collections distributed pursuant to clause (iv) above  shall
     not  exceed the Class E Invested Amount after giving  effect
     to  any  reductions in the Invested Amount made pursuant  to
     Section 4.11(a) on such Transfer Date.

     (c)   On  each  Transfer Date, the Class E  Invested  Amount
shall  be  reduced,  but  not  below  zero,  by  the  amount   of
Reallocated  Principal Collections for such  Transfer  Date.   If
such  reduction would cause the Class E Invested Amount to  be  a
negative number, the Class E Invested Amount shall be reduced  to
zero,  and  the Class D Invested Amount shall be reduced  by  the
amount  by  which  the Class E Invested Amount  would  have  been
reduced  below zero, but shall not be reduced below zero  itself.
If such reduction would cause the Class D Invested Amount to be a
negative number, the Class D Invested Amount shall be reduced  to
zero,  and  the Class C Invested Amount shall be reduced  by  the
amount  by  which  the Class D Invested Amount  would  have  been
reduced  below zero, but shall not be reduced below zero  itself.
If such reduction would cause the Class C Invested Amount to be a
negative number, the Class C Invested Amount shall be reduced  to
zero,  and  the Class B Invested Amount shall be reduced  by  the
amount  by  which  the Class C Invested Amount  would  have  been
reduced below zero, but shall not be reduced below zero itself.

     (d)   Any  reduction  to the invested amount  of  any  Class
pursuant  to  this Section 4.11 shall be applied on  a  pro  rata
basis,  without  preference or priority, among  all  Certificates
then outstanding in that Class.

     Section  4.12    Payment of Certificate Interest  and  Other
Amounts.    On  each  Transfer  Date,  the  Trustee,  acting   in
accordance with written instructions from the Servicer set  forth
in  the Daily Report for such day, shall withdraw the amounts  on
deposit in the Interest Funding Account with respect to the prior
Monthly  Period  allocable to the Series 1999-1 Certificates  and
deposit such amounts in the Distribution Account in the following
priority:

       (a)  for  payment  to  the Class A  Certificateholders  on
account  of Class A Carrying Costs, the lesser of the  amount  of
such  Class  A Carrying Costs and the net amounts deposited  into
the  Interest Funding Account with respect to the related Monthly
Period  (including from Excess Finance Charge Collections, Series
Transferor  Finance  Charge Collections or Reallocated  Principal
Collections)  pursuant  to  subsection  4.8(a)(i);  and  if  such
deposited  amount is less than the total Class A Carrying  Costs,
the  available funds shall be allocated first to Class A Interest
on  all  Class  A  Certificates on  a  pro  rata  basis,  without
preference  or priority, and any remaining available funds  shall
be  allocated to pay other Class A Carrying Costs relating to the
Class A Certificates, on a pro rata basis;

     (b)   for  payment  to  the  Class B  Certificateholders  on
account  of Class B Carrying Costs, the lesser of the  amount  of
such Class B Carrying Costs and the net amount deposited into the
Interest  Funding  Account with respect to  the  related  Monthly
Period  (including from Excess Finance Charge Collections, Series
Transferor  Finance  Charge Collections or Reallocated  Principal
Collections)  pursuant  to subsection  4.8(a)(ii);  and  if  such
deposited  amount is less than the total Class B Carrying  Costs,
the  available funds shall be allocated first to Class B Interest
on  all  Class  B  Certificates on  a  pro  rata  basis,  without
preference  or priority, and any remaining available funds  shall
be  allocated to pay other Class B Carrying Costs relating to the
Class B Certificates, on a pro rata basis;

     (c)   for  payment  to  the  Class C  Certificateholders  on
account  of Class C Interest and any Carryover Class C  Interest,
the  net amount deposited into the Interest Funding Account  with
respect  to  the  related Monthly Period (including  from  Excess
Finance  Charge  Collections, Series  Transferor  Finance  Charge
Collections  or  Reallocated Principal Collections)  pursuant  to
subsection  4.8(a)(viii); and if such deposited  amount  is  less
than  the  total  Class  C Interest and  any  Carryover  Class  C
Interest,  the  available  funds shall be  allocated  among  such
amounts  owed with respect to all Class C Certificates on  a  pro
rata basis, without preference or priority;

     (d) for payment to the Class D Certificateholders on account
of  Class D Interest and any Carryover Class D Interest, the  net
amount  deposited into the Interest Funding Account with  respect
to  the  related  Monthly Period  (including from Excess  Finance
Charge  Collections, Series Transferor Finance Charge Collections
or  Reallocated  Principal Collections)  pursuant  to  subsection
4.8(a)(xi); and if such deposited amount is less than  the  total
Class  D  Interest  and  any  Carryover  Class  D  Interest,  the
available  funds shall be allocated among such amounts owed  with
respect  to all Class D Certificates on a pro rata basis, without
preference or priority;

     (e) for payment to the Class E Certificateholders on account
of interest and other amounts payable with respect to the Class E
Certificates;

     (f)  for  payment of Mezzanine Facilities Costs with respect
to  first  the  Class  A  Certificates  and  then  the  Class   B
Certificates, the net amount deposited into the Interest  Funding
Account  with  respect to the related Monthly Period   (including
from Excess Finance Charge Collections, Series Transferor Finance
Charge Collections or Reallocated Principal Collections) pursuant
to subsection 4.8(a)(xviii); and

     (g)  for payment of Junior Facilities Costs with respect  to
first the Class A Certificates and then the Class B Certificates,
the  net amount deposited into the Interest Funding Account  with
respect  to  the related Monthly Period  (including  from  Excess
Finance  Charge  Collections or Series Transferor Finance  Charge
Collections) pursuant to subsection 4.8(a)(xx).

     On  each Distribution Date, the Paying Agent shall pay  such
amounts  to the applicable Certificateholders in accordance  with
Section 5.1 of the Agreement.

     Section   4.13    Payment  of  Certificate  Principal.   The
Trustee, acting in accordance with written instructions from  the
Servicer  set  forth  in the Daily Report  for  such  day,  shall
withdraw   from  the  Principal  Account  and  deposit   in   the
Accumulation Account or the Distribution Account, as  applicable,
in  the  following priority, in each case to the extent of  funds
available in the Principal Account after giving effect to all  of
the prior applications:

     (a)   On the Transfer Date preceding each Distribution  Date
with  respect to any Accumulation Period, an amount equal to  the
Class  A  Principal for such Distribution Date shall be deposited
into  the  Accumulation Account. On each Class A  Expected  Final
Payment Date or, if earlier, on the first Distribution Date  with
respect  to the Rapid Amortization Period, the principal  balance
on  deposit  in the Accumulation Account shall be transferred  to
the Distribution Account.  On each Distribution Date with respect
to  the  Rapid  Amortization Period or a  Scheduled  Amortization
Period  when  no  Accumulation Period is in progress,  an  amount
equal  to the Class A Principal for such Distribution Date  shall
be  deposited  into the Distribution Account.   On  the  Class  A
Expected  Final Payment Date and on each Distribution  Date  with
respect   to  the  Rapid  Amortization  Period  or  a   Scheduled
Amortization  Period when no Accumulation Period is in  progress,
the  Paying Agent shall pay in accordance with Section 5.1 to the
Class  A  Certificateholders from the Distribution  Account  such
amounts  deposited into the Distribution Account on  the  related
Transfer Date.

     (b)   On  the Transfer Date preceding the Class B  Principal
Payment  Commencement Date and each Distribution Date thereafter,
an  amount  equal to the Class B Principal for such  Distribution
Date.   On the Class B Principal Payment Commencement Date, after
the  payment of any principal amounts to the Class A Certificates
on  such day, and on each Distribution Date thereafter until  the
Class  B Invested Amount is paid in full, the Paying Agent  shall
pay   in   accordance   with  Section  5.1   to   the   Class   B
Certificateholders  from  the Distribution  Account  such  amount
deposited  into the Distribution Account on the related  Transfer
Date.

     (c)   On  the Transfer Date preceding the Class C  Principal
Payment  Commencement Date and each Distribution Date thereafter,
an  amount  equal to the Class C Principal for such  Distribution
Date.  On the Class C Principal Payment Commencement Date,  after
the  payment of any principal amounts to the Class B Certificates
on  such day, and on each Distribution Date thereafter until  the
Class  C Invested Amount is paid in full, the Paying Agent  shall
pay   in   accordance   with  Section  5.1   to   the   Class   C
Certificateholders  from  the Distribution  Account  such  amount
deposited  into the Distribution Account on the related  Transfer
Date.

     (d)   On  the Transfer Date preceding the Class D  Principal
Payment  Commencement Date and each Distribution Date thereafter,
an  amount  equal to the Class D Principal for such  Distribution
Date.  On the Class D Principal Payment Commencement Date,  after
the  payment of any principal amounts to the Class C Certificates
on  such day, and on each Distribution Date thereafter until  the
Class  D Invested Amount is paid in full, the Paying Agent  shall
pay   in   accordance   with  Section  5.1   to   the   Class   D
Certificateholders  from  the Distribution  Account  such  amount
deposited  into the Distribution Account on the related  Transfer
Date.

     (e)   On  the Transfer Date preceding the Class E  Principal
Payment  Commencement Date and each Distribution Date thereafter,
an  amount  equal to the Class E Principal for such  Distribution
Date.   On the Class E Principal Payment Commencement Date, after
the  payment of any principal amounts to the Class D Certificates
on  such day, and on each Distribution Date thereafter until  the
Class  E Invested Amount is paid in full, the Paying Agent  shall
pay   in   accordance   with  Section  5.1   to   the   Class   E
Certificateholders  from  the Distribution  Account  such  amount
deposited  into the Distribution Account on the related  Transfer
Date.

     (f)   In  addition,  during  the  Revolving  Period,  Shared
Principal Collections shall be applied to make principal payments
on any Class A VFCs and Class B VFCs to the extent elected by the
Transferor,  or  required, in each case in  accordance  with  the
applicable Issuance Supplement.

     (g)   On  the Transfer Date preceding a Portfolio Correction
Distribution  Date,  an  amount equal  to  the  Series  Portfolio
Correction  Distribution  Amount.  On  the  Portfolio  Correction
Distribution Date, the Paying Agent shall pay in accordance  with
Section 5.1 to the Class A Certificateholders (and, if the  Class
A  Invested  Amount  has  been paid  in  full,  to  the  Class  B
Certificateholders and the Certificateholders of each more junior
Class  sequentially, in each case to the extent that the invested
amount of each more senior class has been paid in full) from  the
Distribution  Account such amount deposited into the Distribution
Account on the related Transfer Date.

     Any  amounts allocable to the Series 1999-1 Certificates and
to any Monthly Period that remain in the Principal Account on the
related  Distribution Date after all applications for the benefit
of  Series  1999-1 required on that Distribution  Date  shall  be
treated as Shared Principal Collections and applied in accordance
with Section 4.3(e) of the Agreement on that Distribution Date.

     Section 4.14   Shared Principal Collections.  The amount  of
Shared  Principal  Collections allocated  to  the  Series  1999-1
Certificates and to be treated as Available Principal Collections
for  any  Business  Day with respect to the  Amortization  Period
shall  equal the product of (a) Shared Principal Collections  for
all  Series  for  such  Business Day  and  (b)  a  fraction,  the
numerator  of  which is the Principal Shortfall  for  the  Series
1999-1 Certificates for such Business Day and the denominator  of
which  is  the aggregate amount of Principal Shortfalls  for  all
Series  for such Business Day.  For any Business Day with respect
to  the  Revolving Period, Shared Principal Collections allocated
to the Series 1999-1 Certificates shall be zero.

     Section  4.15    Allocation  of  Adjustment  Payments.   All
Adjustment  Payments that are paid when due shall be  treated  as
Principal  Collections.  All Adjustment Payments  that  are  made
after  such  payments are due shall be treated as Finance  Charge
Collections.

     Section  4.16    Spread Account. (a)  On  or  prior  to  the
Closing  Date, the Servicer shall establish and maintain  with  a
Qualified Institution, which may be the Trustee, on behalf of the
Trust, for the benefit of the Class D Certificateholders and  the
Spread  Account  Residual Interest Holders, a segregated  account
(the  "Spread Account") bearing a designation clearly  indicating
that the funds deposited therein are held for the benefit of  the
Class  D  Certificateholders, the Insurer and the Spread  Account
Residual Interest Holders.  Except as otherwise provided in  this
Section  4.16,  the Trustee shall possess all  right,  title  and
interest in all funds on deposit from time to time in the  Spread
Account and in all proceeds thereof. The Spread Account shall  be
under  the  sole  dominion and control of  the  Trustee  for  the
benefit  of the Class D Certificateholders and the Spread Account
Residual Interest Holders. If at any time the institution holding
the  Spread  Account  ceases to be a Qualified  Institution,  the
Transferor  shall notify the Trustee, and the Trustee upon  being
notified  (or the Servicer on its behalf) shall, within ten  (10)
Business  Days  (or  such longer period as to  which  the  Rating
Agency  rating the Class D Certificates may consent) establish  a
new Spread Account meeting the conditions specified above with  a
Qualified  Institution  and  shall  transfer  any  cash  or   any
investments to such new Spread Account.

     (b)   Funds  on  deposit  in  the Spread  Account  shall  be
invested at the written direction of the Servicer by the  Trustee
in  Cash  Equivalents. Funds on deposit in the Spread Account  on
any  Distribution  Date, after giving effect to  any  withdrawals
from  and  deposits  to the Spread Account on  such  Distribution
Date,  shall be invested in such investments that will mature  so
that  such funds will be available for withdrawal on or prior  to
the following Distribution Date.  The Trustee shall maintain, for
the  benefit  of the Class D Certificateholders, the Insurer  and
the  Spread Account Residual Interest Holders, possession of  the
instruments  or securities, if any, evidencing the investment  of
funds  in  the  Spread  Account in  Cash  Equivalents.   On  each
Distribution Date (but subject to subsections 14.16(c),  (d)  and
(e)),  the  Investment  Earnings,  if  any,  accrued  since   the
preceding  Distribution Date on funds on deposit  in  the  Spread
Account shall be paid by the Trustee upon the written instruction
of  the  Servicer:  first, to the Insurer to the  extent  of  any
unpaid  Insurance Premium and Reimbursement Amounts, and  second,
to  the Spread Account Residual Interest Holder.  For purposes of
determining  the  availability of funds or  the  balance  in  the
Spread  Account for any reason hereunder (subject to  subsections
14.16(c),  (d)  and  (e)),  all  Investment  Earnings  shall   be
determined not to be available or on deposit.

     (c)   If,  on  any  Distribution Date, the aggregate  amount
available  (i)  for    distribution to the  Class  D  Certificate
holders  pursuant  to  subsection 4.12(d)  and  Section  5.1  and
(ii) to cover the Insurance Premium and the Reimbursement Amounts
to  the Insurer pursuant to Section 22, is less than the Class  D
Interest  and Carryover Class D Interest and any unpaid Insurance
Premium and Reimbursement Amounts for that Distribution Date, the
Trustee, at the written direction of the Servicer, shall withdraw
from  the Spread Account the amount of such deficiency up to  the
Available  Spread  Account Amount and, if  the  Available  Spread
Account  Amount is less than such deficiency, Investment Earnings
credited to the Spread Account, and distribute such amount to the
Paying  Agent  for  payment to the Class D Certificateholders  in
respect  of  interest  on  the Class D Certificates  and  to  the
Insurer  to  cover any unpaid Insurance Premium and Reimbursement
Amounts.

     (d)   On  the Class D Release Date, if the Class D  Investor
Principal  Balance is greater than the Class D  Invested  Amount,
then  the  Trustee, at the written instruction of  the  Servicer,
shall withdraw from the Spread Account the amount of such excess,
up to the Available Spread Account Amount (after giving effect to
the  application of amounts from the Spread Account  pursuant  to
subsection  4.16(c)  on  such  Distribution  Date)  and,  if  the
Available  Spread  Account Amount is less than  such  deficiency,
Investment Earnings credited to the Spread Account, and pay  such
amount  to  the  Paying Agent for distribution  to  the  Class  D
Certificateholders  in  respect  of  principal  of  the  Class  D
Certificates.

     (e)   On  and after the Class D Release Date, if the sum  of
the  Class  D  Investor Default Amount and any Class D  Uncovered
Dilution Amount on any Business Day exceeds the Available  Series
1999-1  Finance  Charge  Collections and  Excess  Finance  Charge
Collections available to fund such amount pursuant to  subsection
4.8(xii)  and  Section  4.9, then the  Trustee,  at  the  written
instruction  of  the  Servicer, shall withdraw  from  the  Spread
Account  the  amount of such excess, up to the  Available  Spread
Account Amount (after giving effect to the application of amounts
from  the  Spread  Account pursuant to subsections  14.16(c)  and
4.16(d)  on such Distribution Date) and, if the Available  Spread
Account  Amount is less than such deficiency, Investment Earnings
credited  to the Spread Account, and shall apply such amounts  as
provided in subsection 4.8(xii).

     (f)   If  on  any Business Day, after giving effect  to  all
withdrawals from the Spread Account, the Available Spread Account
Amount is less than the Required Spread Account Amount as of  the
most  recent  Distribution Date, Available Series 1999-1  Finance
Charge Collections and Excess Finance Charge Collections shall be
deposited into the Spread Account pursuant to subsection 4.8(xix)
and  Section  4.9 in the amount of the Spread Account  Deficiency
(or, if less, the full amount available).

     (g)   After the Spread Account Percentage has been increased
to  a  percentage above zero, the Spread Account Percentage shall
remain  at such percentage until the Distribution Date  on  which
the  Quarterly Excess Spread Percentage has increased to a  level
that  is  associated with a lower Spread Account  Percentage,  in
which  case  the Spread Account Percentage shall be decreased  to
the  appropriate percentage, but never by more than one level per
Monthly  Period,  even if the Quarterly Excess Spread  percentage
has  increased  to  a level that is otherwise associated  with  a
Spread  Account  Percentage that is two  or  more  levels  lower.
Notwithstanding the foregoing, if a Pay Out Event with respect to
Series  1999-1 has occurred, the Spread Account Percentage  shall
equal  4%  (as  provided  in  the definition  of  Spread  Account
Percentage) and shall no longer be subject to reduction.

     (h)  If on any Distribution Date, after giving effect to all
withdrawals from and deposits to the Spread Account,  the  amount
on deposit in the Spread Account would exceed the Required Spread
Account  Amount then in effect, the Trustee shall, at the written
direction of the Servicer, release, or direct the holder  of  the
Spread  Account to release, such excess first to the  Insurer  to
pay  unpaid  Insurance  Premiums and  Reimbursement  Amounts  and
second  to the Spread Account Residual Interest Holders.  On  the
date  on  which the Class D Investor Principal Balance  has  been
paid  in  full,  the  Trustee, at the written  direction  of  the
Servicer, shall withdraw from the Spread Account all amounts then
remaining in the Spread Account and pay such amounts first to the
Insurer  to  pay  unpaid  Insurance  Premiums  and  Reimbursement
Amounts  and  second  to  the  Spread Account  Residual  Interest
Holders.

     (i)   The Transferor shall not sell, transfer or assign  any
interest in the Spread Account unless (i) it has delivered to the
Trustee  an  Opinion  of Counsel to the effect  that  such  sale,
transfer   or  assignment  will  not  cause  the  Trust   to   be
characterized  for Federal income tax purposes as an  association
taxable  as  a  corporation or otherwise have a material  adverse
impact  on the Federal income taxation of any outstanding  Series
of  Investor  Certificates and (ii) it  has  received  the  prior
written consent of the Insurer.

     Section   4.17   Reserve  Account.  (a)  If  any   Class   A
Certificates are issued with an Accumulation Period, then  on  or
prior  to  the  Reserve Account Funding Date, the Servicer  shall
establish and maintain with a Qualified Institution, which may be
the  Trustee, in the name of the Trust, on behalf of  the  Trust,
for  the  benefit  of the Certificateholders, a segregated  trust
account  (the  "Reserve Account"), bearing a designation  clearly
indicating  that  the funds deposited therein are  held  for  the
benefit of the Certificateholders. The Trustee shall possess  all
right,  title and interest in all funds on deposit from  time  to
time  in  the  Reserve Account and in all proceeds  thereof.  The
Reserve  Account shall be under the sole dominion and control  of
the  Trustee for the benefit of the Certificateholders. If at any
time  a  Qualified Institution holding the Reserve Account ceases
to  be  a Qualified Institution, the Transferor shall notify  the
Trustee  in writing, and the Trustee upon being notified (or  the
Servicer on its behalf) shall, within 10 Business Days, establish
a new Reserve Account meeting the conditions specified above, and
shall  transfer any cash or any investments to such  new  Reserve
Account.  The Trustee, at the written direction of the  Servicer,
shall (i) make withdrawals from the Reserve Account from time  to
time  in an amount up to the Available Reserve Account Amount  at
such  time, for the purposes set forth in this Series Supplement,
and  (ii)  on  each  Transfer Date (from and  after  the  Reserve
Account Funding Date) prior to termination of the Reserve Account
make  a  deposit into the Reserve Account in the amount specified
in, and otherwise in accordance with, Section 4.8(a)(xvii).

     (b)   Funds  on  deposit  in the Reserve  Account  shall  be
invested  by  the  Trustee in Cash Equivalents  pursuant  to  the
written  direction  of  the Servicer. Funds  on  deposit  in  the
Reserve Account on any Transfer Date, after giving effect to  any
withdrawals from the Reserve Account on such Transfer Date, shall
be  invested  in such investments that will mature so  that  such
funds  will  be  available for withdrawal  on  or  prior  to  the
following  Transfer  Date. The Trustee  shall  maintain  for  the
benefit  of  the Certificateholders possession of the  negotiable
instruments   or  securities,  if  any,  evidencing   such   Cash
Equivalents. No Cash Equivalents shall be disposed  of  prior  to
its  maturity unless the Servicer so directs and either (i)  such
disposal  will  not  result in a loss  of  all  or  part  of  the
principal portion of such Cash Equivalents or (ii) prior  to  the
maturity  of  such  Cash  Equivalents, a default  occurs  in  the
payment  of principal, interest or any other amount with  respect
to such Cash Equivalents. On each Transfer Date, all interest and
earnings  (net  of losses and investment expenses) accrued  since
the  preceding Transfer Date on funds on deposit in  the  Reserve
Account  shall be retained in the Reserve Account (to the  extent
that  the  Available  Reserve Account Amount  is  less  than  the
Required  Reserve Account Amount) and the balance, if any,  shall
be  paid  to  the  Transferor. For purposes  of  determining  the
availability of funds or the balance in the Reserve  Account  for
any  reason  under  this Series Supplement, except  as  otherwise
provided in the preceding sentence, investment earnings  on  such
funds shall be deemed not to be available or on deposit.

     (c)   On  or before each Transfer Date with respect  to  any
Accumulation Period prior to the payment in full of the  Class  A
Invested  Amount  and on or before the first Transfer  Date  with
respect  to  the  Rapid Amortization Period, the  Servicer  shall
calculate the "Reserve Draw Amount" which shall be equal  to  the
Accumulation  Investment Shortfall with respect to each  Transfer
Date  with  respect  to such Accumulation  Period  or  the  first
Transfer Date with respect to the Rapid Amortization Period.

     (d)  If the Reserve Draw Amount for any Transfer Date in the
Scheduled  Amortization Period up to and including  the  Transfer
Date relating to the Class A/B VFC Expected Final Payment Date is
greater  than zero, the Reserve Draw Amount, up to the  Available
Reserve  Account  Amount,  shall be withdrawn  from  the  Reserve
Account  on  such  Transfer  Date  by  the  Trustee  (acting   in
accordance  with  the  written  instructions  of  Servicer),  and
treated  as  Available Series 1999-1 Finance  Charge  Collections
with respect to the related Monthly Period.

     (e)   If  the Reserve Account Surplus on any Transfer  Date,
after  giving effect to all deposits to and withdrawals from  the
Reserve  Account with respect to such Transfer Date,  is  greater
than  zero,  the Trustee, acting in accordance with  the  written
instructions  of  the Servicer, shall withdraw from  the  Reserve
Account, and pay an amount equal to such Reserve Account  Surplus
first  to  the  Insurer  in respect of any  unpaid  Reimbursement
Amounts and then to the Transferor.

     (f)   Upon  the earliest to occur of (i) the termination  of
the  Trust pursuant to the Agreement, (ii) the first Distribution
Date  relating  to the Rapid Amortization Period  and  (iii)  the
Distribution  Date  immediately preceding the  Class  A  Expected
Final  Payment Date for the Class A Certificates that are subject
to  accumulation,  the  Trustee, acting in  accordance  with  the
instructions  of  the Servicer, after the prior  payment  of  all
amounts  owing to the Series 1999-1 Certificateholders  that  are
payable  from  the  Reserve  Account as  provided  herein,  shall
withdraw from the Reserve Account and pay all amounts, if any, on
deposit in the Reserve Account first to the Insurer in respect of
any  unpaid Reimbursement Amounts and then to the Transferor  and
the  Reserve  Account  shall be deemed  to  have  terminated  for
purposes of this Series Supplement.

     Section 4.18  Accumulation Account.  In connection with  the
issuance  of  any  Class A Certificates that are  subject  to  an
Accumulation Period, the Trustee may establish and maintain  with
a Qualified Institution, which may be the Trustee, in the name of
the  Trust,  on  behalf  of the Trust, for  the  benefit  of  the
Certificateholders, a segregated trust account (an  "Accumulation
Account")  to  provide for the payment of the  Class  A  Invested
Amount.

     Section  4.19 Defeasance. On any Business Day falling  prior
to the Series 1999-1 Termination Date (but with not less than ten
(10) Business Days' prior written notice from the Servicer to the
Trustee and the Insurer), the Servicer may, upon instruction from
Transferor, cause the undivided interest in the Trust represented
by  the Series 1999-1 Certificates to be conveyed to one or  more
Persons  (who  may  be  the  holders  of  a  new  Series   issued
substantially contemporaneously with such prepayment,  which  new
Series  may  have a greater undivided interest in the Trust  than
Series  1999-1) for a cash purchase price in an amount  equal  to
the  sum  of (a) the Invested Amount, plus (b) to the extent  not
available from the Interest Funding Account, interest accrued and
to  accrue on the Series 1999-1 Certificates and other Facilities
Costs  through  the  date  of final  payment  of  each  Class  as
specified below (after giving effect to any derivative instrument
referred  to  below), plus (c) all unpaid Reimbursement  Amounts.
Any  such  conveyance shall be effective upon the date  that  the
purchase  price  is  deposited  into  the  Principal  Account  as
described  below,  and following such deposit the  Series  1999-1
Certificates  shall have no further interest in the  Receivables.
No  such  conveyance shall, however, be permitted if as a  result
thereof  Transferor or any of its Affiliates would  increase  its
undivided interest in the Receivables, and the Trustee  shall  be
entitled to receive and rely on an Officer's Certificate  to  the
effect  that  no such increase will result therefrom,  nor  shall
such  conveyance be permitted unless each Rating Agency  confirms
that  it  will  not result in a downgrade or withdrawal  of  such
Rating Agency's rating of any Class of Certificates. The purchase
price  shall  be directly deposited in the Principal Account  for
distribution  to  the  Holders on the next upcoming  Distribution
Date or, if later, with respect to each Class of Certificates, on
its  respective  expected final payment date. In connection  with
any  such  conveyance,  the  Transferor  shall  transfer  to  the
Trustee,  for  the  Benefit of the holder of  the  Series  1999-1
Certificates and the Insurer one or more interest rate derivative
instruments that, when combined with investment earnings  on  the
cash  purchase price deposited pursuant to this Section 4.19 will
provide sufficient funds to assure timely payment of interest  on
the  Certificates  and other Facilities Costs and  any  Insurance
Premium and unpaid Reimbursement Amounts until paid in full,  and
the  Servicer  shall  cause  such  investment  earnings  and  the
proceeds  of  such  derivatives to be applied  to  make  interest
payments  and pay other Facilities Costs on the Certificates  and
any  Insurance  Premium,  in accordance with  the  priorities  in
Section  4.8(a),  on  each Distribution Date.   The  Policy  will
terminate upon any such defeasance.

     SECTION 7.     Article V of the Agreement.  Article V of the
Agreement  shall  read in its entirety as follows  and  shall  be
applicable only to the Series 1999-1 Certificates:

                      ARTICLE V

              DISTRIBUTIONS AND REPORTS
            TO INVESTOR CERTIFICATEHOLDERS

     Section  5.1     Distributions.  On each Distribution  Date,
the  Paying  Agent  shall  distribute  (in  accordance  with  the
Settlement Statement delivered by the Servicer to the Trustee and
the  Paying Agent pursuant to subsection 3.4(c) of the Agreement)
to   each  Series  1999-1  Certificateholder  of  record  on  the
immediately  preceding Record Date (other  than  as  provided  in
subsection 2.4(d) or in Section  12.3 of the Agreement respecting
a  final  distribution) by wire transfer to  such  Series  1999-1
Certificateholder to an account designated by such Series  1999-1
Certificateholder by written notice given to the Paying Agent not
less   than   five  (5)  Business  Days  prior  to  the   related
Distribution Date such Certificateholder's pro rata share  (based
on  the aggregate Undivided Interests represented by Certificates
held by such Certificateholder) of the following amounts:

          (i)   to  Class  A Certificateholders, the  amounts  on
     deposit  in the Distribution Account as are payable  to  the
     Class  A  Certificateholders pursuant to Sections  4.12  and
     4.13;

          (ii)  to  Class  B Certificateholders, the  amounts  on
     deposit  in the Distribution Account as are payable  to  the
     Class  B  Certificateholders pursuant to Sections  4.12  and
     4.13;

          (iii)     to the Class C Certificateholders amounts  on
     deposit  in the Distribution Account as are payable  to  the
     Class  C  Certificateholders pursuant to  Section  4.12  and
     4.13;

          (iv)  to  the  Class  D Certificateholders  amounts  on
     deposit  in the Distribution Account as are payable  to  the
     Class D Certificateholders pursuant to Section 4.12 and 4.13
     of  the  Agreement and Section 22 of this Series Supplement;
     and

          (v)   to  the  Class  E Certificateholders  amounts  on
     deposit  in the Distribution Account as are payable  to  the
     Class  E  Certificateholders pursuant to  Section  4.12  and
     4.13.

     Section  5.2    Certificateholders' Statement.  (a)  On  the
15th day of each calendar month (or if such day is not a Business
Day  the  next succeeding Business Day), the Paying  Agent  shall
forward  to  each Certificateholder, the Insurer and  the  Rating
Agency  a  statement  substantially in  the  form  of  Exhibit  C
prepared  by  the Servicer and delivered to the Trustee  and  the
Paying  Agent  on the preceding Determination Date setting  forth
the  following information (which, in the case of subclauses (i),
(ii) and (iii) below, shall be stated on the basis of an original
principal  amount of $1,000 per Certificate and, in the  case  of
subclauses  (ix) and (x) below, shall be stated on  an  aggregate
basis  and on the basis of an original principal amount of $1,000
per Certificate):

          (i)  the total amount distributed;

          (ii)  the  amount  of  such distribution  allocable  to
     Certificate Principal;

          (iii)     the amount of such distribution allocable  to
     Certificate Interest;

          (iv)  the  amount of Principal Collections received  in
     the  Collection Account during the preceding Monthly  Period
     and  allocated  in respect of the Class A Certificates,  the
     Class B Certificates, the Class C Certificates, the Class  D
     Certificates and the Class E Certificates, respectively;

          (v)  the amount of Finance Charge Collections processed
     during the preceding Monthly Period and allocated in respect
     of  the Class A Certificates, the Class B Certificates,  the
     Class  C  Certificates,  the Class D  Certificates  and  the
     Class E Certificates, respectively;

          (vi) the aggregate amount of Principal Receivables, the
     Invested  Amount, the Class A Invested Amount, the  Class  B
     Invested  Amount, the Class C Invested Amount, the  Class  D
     Invested  Amount, the Class E Invested Amount, the  Floating
     Allocation  Percentage and, during the Amortization  Period,
     the  Class  A  Fixed Allocation Percentage,  Class  B  Fixed
     Allocation  Percentage, Class C Fixed Allocation Percentage,
     the Class D Fixed Allocation Percentage or the Class E Fixed
     Allocation  Percentage, as applicable, with respect  to  the
     Principal Receivables in the Trust as of the end of the  day
     on the Record Date;

          (vii)     the aggregate outstanding balance of Accounts
     which  are current, 30, 60, 90, 120, 150, 180 and  210  days
     delinquent as of the end of the day on the Record Date;

          (viii)    the aggregate Investor Default Amount and the
     Default Amount for the preceding Monthly Period;

          (ix)   the   aggregate  amount  of  Class  A   Investor
     Charge-Offs, Class B Investor Charge-Offs, Class C  Investor
     Charge-Offs,  Class  D  Investor  Charge-Offs  and  Class  E
     Investor Charge-Offs for the preceding Monthly Period;

          (x)  the aggregate amount of the Servicing Fees for the
     preceding Monthly Period;

          (xi)  the  current rating from each Rating  Agency  for
     each Class of Investor Certificates;

          (xii)       the  aggregate  amount  of  funds  in   the
     Equalization  Account  as of the last  day  of  the  Monthly
     Period immediately preceding the Determination Date;

          (xiii)    the Class C Certificate Rate and the Class  D
     Certificate Rate for the preceding Monthly Period;

          (xiv)      the  amount  of  any draws  on  the  Policy,
     payments of Insurance Premium and unreimbursed Reimbursement
     Amounts; and

          (xv)  the  Deficiency Amount, if any, for such  Monthly
     Period.

     (b)  Annual Certificateholders' Tax Statement.  On or before
January  31  of each calendar year, beginning with calendar  year
2000,  the  Servicer shall distribute to each Person who  at  any
time  during  the  preceding calendar year was  a  Series  1999-1
Certificateholder,   a  statement  prepared   by   the   Servicer
containing  the  information required  to  be  contained  in  the
regular report to Series 1999-1 Certificateholders, as set  forth
in  clauses  (i),  (ii)  and  (iii) above,  aggregated  for  such
calendar year or the applicable portion thereof during which such
Person was a Series 1999-1 Certificateholder, together with  such
other customary information (consistent with the treatment of the
Certificates  as  debt)  as  the  Servicer  deems  necessary   or
desirable  to  enable  the  Series 1999-1  Certificateholders  to
prepare  their  tax returns.  Such obligations  of  the  Servicer
shall  be  deemed  to  have been satisfied  to  the  extent  that
substantially  comparable information shall be  provided  by  the
Servicer  pursuant  to any requirements of the  Internal  Revenue
Code as from time to time in effect.

     (c)   Monthly  Class  D Certificateholders'  Statement.  Not
later  than  each  Transfer Date, the Servicer  shall  deliver  a
certificate  substantially in the form of Exhibit B with  respect
to  the immediately preceding Monthly Period to the Trustee,  the
Paying  Agent,  the  Insurer  and  the  Rating  Agency.  On  each
Distribution  Date, the Paying Agent, on behalf of  the  Trustee,
shall  forward to each Class D Certificateholder such certificate
prepared   by  the  Servicer  with  respect  to  the  immediately
preceding Monthly Period.

     SECTION 8.     Series 1999-1 Pay Out Events.  If any one  of
the  following  events  shall occur with respect  to  the  Series
1999-1 Certificates:

          (a)   failure on the part of the Transferor (i) to make
     any payment or deposit required to be made by the Transferor
     by  the  terms  of  (A) the Agreement  or  (B)  this  Series
     Supplement,  on  or  before  the  date  occurring  five  (5)
     Business  Days  after the date such payment  or  deposit  is
     required  to  be  made herein or (ii)  duly  to  observe  or
     perform  in any material respect any covenants or agreements
     of  the Transferor set forth in the Agreement or this Series
     Supplement, which failure has a material adverse  effect  on
     the  Series 1999-1 Certificateholders (without regard to the
     Policy) or the Insurer and which continues unremedied for  a
     period of 60 days after the date on which written notice  of
     such  failure, requiring the same to be remedied, shall have
     been  given  to the Transferor by the Trustee provided  that
     the  Trustee has actual knowledge of such failure, or to the
     Transferor  and the Trustee by the Holders of Series  1999-1
     Certificates evidencing Undivided Interests aggregating  not
     less  than 50% of the Invested Amount of this Series  1999-1
     or  the  Insurer,  and  continues to affect  materially  and
     adversely    the    interests   of   the    Series    1999-1
     Certificateholders  (without regard to the  Policy)  or  the
     Insurer for such period;

          (b)    any  representation  or  warranty  made  by  the
     Transferor  in  the Agreement or this Series Supplement,  or
     any  information contained in a computer file or  microfiche
     list required to be delivered by the Transferor pursuant  to
     Section 2.1 or Section 2.6 of the Agreement, (i) shall prove
     to  have been incorrect in any material respect when made or
     when  delivered,  which continues to  be  incorrect  in  any
     material respect for a period of 60 days after the  date  on
     which written notice of such failure, requiring the same  to
     be  remedied, shall have been given to the Transferor by the
     Trustee  provided that the Trustee has actual  knowledge  of
     such  failure, or to the Transferor and the Trustee  by  the
     Holders   of   the  Series  1999-1  Certificates  evidencing
     Undivided  Interests  aggregating  more  than  50%  of   the
     Invested  Amount of this Series 1999-1 or the  Insurer,  and
     (ii) as a result of which the interests of the Series 1999-1
     Certificateholders  (without regard to the  Policy)  or  the
     Insurer  are materially and adversely affected and  continue
     to  be  materially and adversely affected for  such  period;
     provided,  however,  that  a Series  1999-1  Pay  Out  Event
     pursuant to this subsection 8(b) shall not be deemed to have
     occurred   hereunder   if   the  Transferor   has   accepted
     reassignment  of  the related Receivable,  or  all  of  such
     Receivables, if applicable, during such period in accordance
     with the provisions of the Agreement;

          (c)   the average of the Portfolio Yields for any three
     consecutive  Monthly Periods is reduced to a rate  which  is
     less  than  the weighted average of the Base Rates  for  the
     three related Interest Accrual Periods;

          (d)  (i) the Transferor Interest shall be less than the
     Minimum  Transferor Interest, (ii) the amount  of  Principal
     Receivables  in the Trust and the amount on deposit  in  the
     Equalization  Account  shall  be  less  than   the   Minimum
     Aggregate  Principal  Receivables  or  (iii)  the  Class   E
     Invested  Amount  shall be less than 3.00% of  the  Invested
     Amount, in each case for 4 consecutive days;

          (e)   any Servicer Default shall occur which would have
     a   material   adverse   effect   on   the   Series   1999-1
     Certificateholders  (without regard to the  Policy)  or  the
     Insurer; or

          (f)   the  Class  A  Invested Amount  or  the  Class  B
     Invested Amount is not reduced to zero by the Class A/B  VFC
     Expected Final Payment Date or any earlier applicable  Class
     A  Expected  Final  Payment Date or Class B  Expected  Final
     Payment Date, the Class C Invested Amount is not reduced  to
     zero  by  the  Class C Expected Final Payment  Date  or  the
     Class  D  Invested  Amount is not reduced  to  zero  by  the
     Class D Expected Final Payment Date;

then, in the case of any event described in subparagraph (a), (b)
or  (e)  above, after the applicable grace period,  if  any,  set
forth  in  such  subparagraphs,  the  Holders  of  Series  1999-1
Certificates evidencing Undivided Interests aggregating more than
66  2/3%  of  the Invested Amount or the Insurer by  notice  then
given  in writing to the Trustee, the Transferor and the Servicer
may  declare  that  a  pay out event (a "Series  1999-1  Pay  Out
Event")  has occurred as of the date of such notice, and  in  the
case  of  any event described in subparagraphs (c),  (d)  or  (f)
above,  a  Series  1999-1 Pay Out Event shall occur  without  any
notice  or  other action on the part of the Trustee,  the  Series
1999-1  Certificateholders or the Insurer  immediately  upon  the
occurrence of such event.

     SECTION  9.      Article  VI of the Agreement.   Article  VI
(except for Sections 6.1 through 6.14 thereof) shall read in  its
entirety  as follows and shall be applicable only to  the  Series
1999-1 Certificates:

     Section  6.15   Additional Invested Amounts. The  Transferor
may  on  the  Series 1999-1 Closing Date and from  time  to  time
thereafter  issue  and, when applicable,  cause  the  Trustee  to
authenticate  Class  A Certificates, Class  B  Certificates,  and
additional Class C Certificates, Class D Certificates and Class E
Certificates which shall be part of Series 1999-1, subject to the
following limitations:

     (a)   Class A Certificates and Class B Certificates  may  be
issued  as Variable Funding Certificates or as conventional  term
certificates. Either type of issuance will cause an  increase  in
the  Class  A  Invested Amount (an "Additional Class  A  Invested
Amount") or the Class B Invested Amount (an "Additional  Class  B
Invested  Amount")  as follows. In the case of conventional  term
certificates,   the  Additional  Class  A  Invested   Amount   or
Additional  Class  B  Invested  Amount  will  equal  the  initial
principal amount of the applicable Certificates. In the  case  of
Variable   Funding  Certificates,  Additional  Class  A  Invested
Amounts or Additional Class B Invested Amounts may be issued from
time  to  time and evidenced by such Certificates, in  accordance
with the applicable Issuance Supplement.  All or a portion of the
proceeds  from  issuances  of Class A Certificates  and  Class  B
Certificates  may  be  used  to refinance  any  then  outstanding
Class  A  Certificates  and Class B Certificates  to  the  extent
permitted  by each applicable Issuance Supplement,  and  no  such
additional  Certificates may have an expected final payment  date
later than the Class A/B VFC Expected Final Payment Date.

     (b)   (i)  No more than $217,000,000 of Class A Certificates
and  $66,500,000  of Class B Certificates may be  outstanding  in
Series 1999-1 at any time unless (x) the Insurer consents to  any
amount  in  excess  of either of the foregoing  amounts  and  (y)
additional Class C Certificates, Class D Certificates and Class E
Certificates  are  issued  in amounts such  that  each  Class  of
Certificates will have an Enhancement Percentage of not less than
the required percentage specified for such Class below.

          Class of          Required
          Certificates      Enhancement
                            Percentage

          Class A                  38%

          Class B                  19%

          Class C                  11%

          Class D                 5.75%

          (ii)  If more than $217,000,000 of Class A Certificates
     or  $66,500,000 of Class B Certificates are outstanding, the
     Servicer  shall  give  the  Rating Agencies  prompt  written
     notice of such event.

     (c)  The Transferor may issue and cause the Trustee to issue
(i)  additional Class C Certificates representing an increase  in
the  Class  C  Invested Amount (an "Additional Class  C  Invested
Amount"),  (ii)  with  the  consent of  the  Insurer,  additional
Class  D  Certificates representing an increase in  the  Class  D
Invested  Amount (an "Additional Class D Invested Amount")  (each
such  additional  Class  C Certificate and  Class  D  Certificate
having   terms  identical  to  those  of  the  initial  Class   C
Certificates and Class D Certificates) and (iii) additional Class
E  Certificates representing an increase in the Class E  Invested
Amount (an "Additional Class E Invested Amount" and, collectively
with  the  Additional  Class A Invested Amounts,  the  Additional
Class B Invested Amounts, the Additional Class C Invested Amounts
and  the  Additional  Class D Invested Amounts,  the  "Additional
Invested  Amounts")  subject  to the respective  percentages  set
forth  in  (b)  above.   No  Class C Certificateholder,  Class  D
Certificateholder or Class E Certificateholder has  committed  to
purchase Certificates evidencing Additional Invested Amounts, and
any  such  Certificates may be sold to a Person  that  is  not  a
Certificateholder  prior  to completing  its  purchase.  If  such
additional Class C Certificates, Class D Certificates or Class  E
Certificates are issued, then in consideration of payment by  the
holder(s)  of  such new Certificates of the agreed upon  purchase
prices,  the  Servicer shall appropriately note  such  Additional
Invested  Amounts  on  the related Daily Report  and  direct  the
Trustee in writing to pay to the Transferor such purchase prices,
and  the Invested Amount of each applicable Class of Certificates
will be equal to the Invested Amount of such Class stated in such
Daily Report.  The Policy shall not cover any Additional Class  D
Invested Amount.

     (d)   Except  for  Additional Class A Invested  Amounts  and
Additional Class B Invested Amounts relating to any Class A  VFCs
or  Class B VFCs, respectively, no additional Certificates of any
Class may be issued unless each Rating Agency confirms in writing
that  the issuance of the new Certificates will not result  in  a
reduction   or  withdrawal  of  its  rating  of  any   class   of
certificates or, to the extent agreed in any Certificate Purchase
Agreement  (as  defined  in  any  Issuance  Supplement),  of  any
commercial  paper notes issued by any purchaser of  the  Class  A
Certificates and the Class B Certificates that it has rated.

     SECTION  10.  Series 1999-1 Termination.  The right  of  the
Series  1999-1  Certificateholders to receive payments  from  the
Trust  will  terminate on the first Business  Day  following  the
Series  1999-1 Termination Date unless such Series is an Affected
Series  as specified in Section 12.1(c) of the Agreement and  the
sale contemplated therein has not occurred by such date, in which
event  the Series 1999-1 Certificateholders shall remain entitled
to receive proceeds of such sale when such sale occurs.

     SECTION  11. Periodic Finance Charges and Other  Fees.   The
Transferor  hereby agrees that, except as otherwise  required  by
any  Requirement of Law, or as is deemed by the Transferor to  be
necessary in order for the Transferor to maintain its credit card
business,  based upon a good faith assessment by the  Transferor,
in  its sole discretion, of the nature of the competition in  the
credit  card  business,  it shall not  at  any  time  reduce  the
Periodic Finance Charges assessed on any Receivable or other fees
on   any  Account  if,  as  a  result  of  such  reduction,   the
Transferor's reasonable expectation of the Portfolio Yield as  of
such date would be less than the Base Rate.

     SECTION 12. Legends; Transfer and Exchange; Restrictions  on
Transfer of Series 1999-1 Certificates; Tax Treatment.

     (a)   Each Class A Certificate and Class B Certificate shall
bear a legend substantially in the following form:

     THIS  CERTIFICATE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED
     IN   A  TRANSACTION  EXEMPT  FROM  REGISTRATION  UNDER   THE
     SECURITIES  ACT OF 1933, AS AMENDED (THE "SECURITIES  ACT").
     THIS   CERTIFICATE  HAS  NOT  BEEN  REGISTERED   UNDER   THE
     SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAW OF ANY
     STATE  AND  MAY NOT BE OFFERED, SOLD, PLEDGED  OR  OTHERWISE
     TRANSFERRED  UNLESS REGISTERED PURSUANT TO  OR  EXEMPT  FROM
     REGISTRATION  UNDER  THE  SECURITIES  ACT  AND   ANY   OTHER
     APPLICABLE SECURITIES LAW.  THIS CERTIFICATE IS NOT  INSURED
     BY R. V. I. GUARANTY CO., LTD.

     EACH PURCHASER AND HOLDER OF THIS CERTIFICATE REPRESENTS AND
     WARRANTS  FOR  THE BENEFIT OF SRI RECEIVABLES PURCHASE  CO.,
     INC.  AND SPECIALTY RETAILERS, INC., THAT SUCH PURCHASER  OR
     HOLDER  EITHER (A) IS NOT (I) AN EMPLOYEE BENEFIT  PLAN  (AS
     DEFINED  IN  SECTION 3(3) OF THE EMPLOYEE RETIREMENT  INCOME
     SECURITY ACT OF 1974, AS AMENDED ("ERISA")) THAT IS  SUBJECT
     TO  THE PROVISIONS OF TITLE I OF ERISA, (II) A PLAN OR OTHER
     ARRANGEMENT (INCLUDING AN INDIVIDUAL RETIREMENT  ACCOUNT  OR
     KEOGH  PLAN) THAT IS SUBJECT TO SECTION 4975 OF THE INTERNAL
     REVENUE  CODE OF 1986, AS AMENDED (THE "CODE"), OR  (III)  A
     "BENEFIT  PLAN  INVESTOR"  (AS  DEFINED  IN  UNITED   STATES
     DEPARTMENT  OF LABOR ("DOL") REGULATION SECTION  2510.3-101)
     OR  (B)  IS  AN  INSURANCE COMPANY ACTING ON BEHALF  OF  ITS
     GENERAL  ACCOUNT  AND  (I)  ON THE  DATE  IT  ACQUIRES  THIS
     CERTIFICATE,  LESS THAN 25% OF THE ASSETS  OF  SUCH  GENERAL
     ACCOUNT (AS DETERMINED BY SUCH INSURANCE COMPANY) CONSTITUTE
     "PLAN  ASSETS" FOR PURPOSES OF TITLE I OF ERISA  OR  SECTION
     4975  OF THE CODE, (II) IF AFTER THE INITIAL ACQUISITION  OF
     THIS CERTIFICATE, DURING ANY CALENDAR QUARTER 25% OR MORE OF
     THE  ASSETS OF SUCH GENERAL ACCOUNT (AS DETERMINED  BY  SUCH
     INSURANCE COMPANY) CONSTITUTE "PLAN ASSETS" FOR PURPOSES  OF
     TITLE  I  OF  ERISA  OR SECTION 4975  OF  THE  CODE  AND  NO
     EXEMPTION OR EXCEPTION FROM THE PROHIBITED TRANSACTION RULES
     APPLIES  TO THE CONTINUED HOLDING OF THIS CERTIFICATE  UNDER
     SECTION 401(c) OF ERISA AND FINAL REGULATIONS THEREUNDER  OR
     AN  EXEMPTION  OR REGULATION ISSUED BY THE DOL UNDER  ERISA,
     THEN  SUCH  INSURANCE COMPANY WILL DISPOSE  OF  ALL  OF  THE
     CERTIFICATES THEN HELD IN ITS GENERAL ACCOUNT BY THE END  OF
     THE  NEXT FOLLOWING CALENDAR QUARTER, AND (III) ON THE  DATE
     IT  ACQUIRES THIS CERTIFICATE AND THROUGHOUT THE PERIOD THAT
     IT  HOLDS  THEM  IT  MEETS ALL THE REQUIREMENTS  OF  AND  IS
     ELIGIBLE FOR EXEMPTIVE RELIEF UNDER PTCE 95-60.

     (b)   Each  confirmation of issuance or sale of  a  Class  C
Certificate  and  Class  D  Certificate  shall  bear   a   legend
substantially in the following form:

     EACH PURCHASER AND HOLDER OF THIS CERTIFICATE REPRESENTS AND
     WARRANTS  FOR  THE BENEFIT OF SRI RECEIVABLES PURCHASE  CO.,
     INC.  AND  SPECIALTY RETAILERS, INC., [ADD THE FOLLOWING  TO
     THE  CLASS D CERTIFICATE ONLY [R. V. I. GUARANTY CO., LTD.]]
     THAT  SUCH  PURCHASER OR HOLDER EITHER (A)  IS  NOT  (I)  AN
     EMPLOYEE  BENEFIT PLAN (AS DEFINED IN SECTION  3(3)  OF  THE
     EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS  AMENDED
     ("ERISA")) THAT IS SUBJECT TO THE PROVISIONS OF TITLE  I  OF
     ERISA,  (II)  A  PLAN  OR  OTHER ARRANGEMENT  (INCLUDING  AN
     INDIVIDUAL RETIREMENT ACCOUNT OR KEOGH PLAN) THAT IS SUBJECT
     TO  SECTION  4975 OF THE INTERNAL REVENUE CODE OF  1986,  AS
     AMENDED (THE "CODE"), OR (III) A "BENEFIT PLAN INVESTOR" (AS
     DEFINED   IN  UNITED  STATES  DEPARTMENT  OF  LABOR  ("DOL")
     REGULATION  SECTION  2510.3-101)  OR  (B)  IS  AN  INSURANCE
     COMPANY ACTING ON BEHALF OF ITS GENERAL ACCOUNT AND  (I)  ON
     THE  DATE IT ACQUIRES THIS CERTIFICATE, LESS THAN 25% OF THE
     ASSETS  OF  SUCH  GENERAL  ACCOUNT (AS  DETERMINED  BY  SUCH
     INSURANCE COMPANY) CONSTITUTE "PLAN ASSETS" FOR PURPOSES  OF
     TITLE  I OF ERISA OR SECTION 4975 OF THE CODE, (II) IF AFTER
     THE  INITIAL  ACQUISITION  OF THIS CERTIFICATE,  DURING  ANY
     CALENDAR  QUARTER 25% OR MORE OF THE ASSETS OF SUCH  GENERAL
     ACCOUNT (AS DETERMINED BY SUCH INSURANCE COMPANY) CONSTITUTE
     "PLAN  ASSETS" FOR PURPOSES OF TITLE I OF ERISA  OR  SECTION
     4975  OF  THE  CODE AND NO EXEMPTION OR EXCEPTION  FROM  THE
     PROHIBITED  TRANSACTION  RULES  APPLIES  TO  THE   CONTINUED
     HOLDING  OF THIS CERTIFICATE UNDER SECTION 401(c)  OF  ERISA
     AND   FINAL  REGULATIONS  THEREUNDER  OR  AN  EXEMPTION   OR
     REGULATION  ISSUED  BY  THE  DOL  UNDER  ERISA,  THEN   SUCH
     INSURANCE  COMPANY  WILL DISPOSE  OF  ALL  OF  THE  CLASS  C
     CERTIFICATES  AND  CLASS D CERTIFICATES  THEN  HELD  IN  ITS
     GENERAL  ACCOUNT  BY THE END OF THE NEXT FOLLOWING  CALENDAR
     QUARTER,  AND (III) ON THE DATE IT ACQUIRES THIS CERTIFICATE
     AND  THROUGHOUT THE PERIOD THAT IT HOLDS THEM IT  MEETS  ALL
     THE  REQUIREMENTS  OF AND IS ELIGIBLE FOR  EXEMPTIVE  RELIEF
     UNDER  PTCE  95-60.   [ADD  THE FOLLOWING  TO  THE  CLASS  C
     CERTIFICATE ONLY [THIS CERTIFICATE IS NOT INSURED BY  R.  V.
     I. GUARANTY CO., LTD.] ]

     THIS  CERTIFICATE  MAY  NOT  BE ACQUIRED,  SOLD,  TRADED  OR
     TRANSFERRED,  NOR  MAY AN INTEREST IN  THIS  CERTIFICATE  BE
     MARKETED,  ON  OR  THROUGH  (I) AN  "ESTABLISHED  SECURITIES
     MARKET" WITHIN THE MEANING OF SECTION 7704(b)(1) OF THE CODE
     AND  ANY  PROPOSED,  TEMPORARY OR FINAL TREASURY  REGULATION
     THEREUNDER,  INCLUDING,  WITHOUT  LIMITATION,  AN  OVER-THE-
     COUNTER-MARKET  OR  AN  INTERDEALER  QUOTATION  SYSTEM  THAT
     REGULARLY DISSEMINATES FIRM BUY OR SELL QUOTATIONS OR (II) A
     "SECONDARY  MARKET (OR THE SUBSTANTIAL EQUIVALENT  THEREOF)"
     WITHIN THE MEANING OF SECTION 7704(b)(2) OF THE CODE AND ANY
     TREASURY  REGULATION THEREUNDER, INCLUDING A MARKET  WHEREIN
     INTERESTS IN THIS CERTIFICATE, ARE REGULARLY QUOTED  BY  ANY
     PERSON  MAKING  A  MARKET  IN SUCH INTERESTS  AND  A  MARKET
     WHEREIN  ANY PERSON REGULARLY MAKES AVAILABLE BID  OR  OFFER
     QUOTES  WITH  RESPECT TO INTERESTS IN THIS  CERTIFICATE,  AS
     APPLICABLE   AND  STANDS  READY  TO  EFFECT  BUY   OR   SELL
     TRANSACTIONS AT THE QUOTED PRICES FOR ITSELF OR ON BEHALF OF
     OTHERS.

     [ADD  THE  FOLLOWING  TO  THE  CLASS  D  CERTIFICATES  ONLY]
     [NEITHER  THIS CERTIFICATE NOR THE POLICY HAS BEEN OR  WILL]
     [ADD  THE FOLLOWING TO THE CLASS C CERTIFICATES ONLY]  [THIS
     CERTIFICATE HAS BEEN AND WILL NOT] BE REGISTERED  UNDER  THE
     SECURITIES  ACT OF 1933, AS AMENDED (THE "SECURITIES  ACT"),
     OR ANY STATE SECURITIES LAW. THE HOLDER OF THIS CERTIFICATE,
     BY PURCHASING THIS CERTIFICATE, AGREES THAT SUCH CERTIFICATE
     MAY  BE  REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED
     ONLY  IN  COMPLIANCE  WITH  THE  SECURITIES  ACT  AND  OTHER
     APPLICABLE  LAWS AND ONLY TO THE TRANSFEROR OR  PURSUANT  TO
     RULE  144A  UNDER  THE SECURITIES ACT TO A PERSON  THAT  THE
     HOLDER  OF  SUCH  CERTIFICATE  REASONABLY  BELIEVES   IS   A
     QUALIFIED  INSTITUTIONAL BUYER WITHIN THE  MEANING  OF  RULE
     144A  ("QIB") PURCHASING FOR ITS OWN ACCOUNT, IN  ACCORDANCE
     WITH  RULE  144A,  WHOM THE HOLDER OF SUCH  CERTIFICATE  HAS
     INFORMED  THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
     IS BEING MADE IN RELIANCE ON RULE 144A AND AFTER DELIVERY OF
     THE  DOCUMENTATION REQUIRED BY THE AGREEMENT AND THE  SERIES
     1999-1  SUPPLEMENT.  EACH  OWNER  OF  THIS  CERTIFICATE   BY
     ACCEPTING  A  DIRECT OWNERSHIP INTEREST IN OR  A  BENEFICIAL
     INTEREST  IN A SUCH CERTIFICATE IS DEEMED TO REPRESENT  THAT
     IT IS A QIB PURCHASING FOR ITS OWN ACCOUNT. THIS CERTIFICATE
     WILL  NOT  BE  ACCEPTED FOR REGISTRATION OF TRANSFER  EXCEPT
     UPON  PRESENTATION OF EVIDENCE SATISFACTORY TO THE  TRANSFER
     AGENT  AND  REGISTRAR THAT THE RESTRICTIONS ON TRANSFER  SET
     FORTH IN THE AGREEMENT AND THE SERIES 1999-1 SUPPLEMENT HAVE
     BEEN  COMPLIED WITH. THIS CERTIFICATE MAY NOT BE  REOFFERED,
     RESOLD,  PLEDGED OR OTHERWISE TRANSFERRED WITHOUT THE  PRIOR
     WRITTEN  CONSENT OF THE TRANSFEROR AND UNLESS AND UNTIL  THE
     TRUSTEE   AND   THE  TRANSFEROR  SHALL  HAVE  RECEIVED   THE
     CERTIFICATIONS  REQUIRED  BY THE AGREEMENT  AND  THE  SERIES
     1999-1 SUPPLEMENT.

     THIS  CERTIFICATE  IS  ALSO SUBJECT TO RESTRICTIONS  ON  THE
     PURCHASE,  OWNERSHIP AND DISPOSITION OF SUCH  SECURITIES  OR
     ANY   INTEREST  THEREIN,  INCLUDING  THE  CONSENT   OF   THE
     TRANSFEROR  AND  THE DELIVERY OF AN INVESTOR  REPRESENTATION
     LETTER. SUCH RESTRICTIONS ARE SET FORTH IN THE AGREEMENT AND
     THE  SERIES 1999-1 SUPPLEMENT, COPIES OF WHICH ARE AVAILABLE
     FROM THE TRUSTEE.

     (c)   In  no  event  shall the Class E Certificates  or  any
interest   therein  be  transferred,  sold,  exchanged,  pledged,
participated  or otherwise assigned in whole or in part,  unless:
(i)  the  Trustee  and the Insurer shall have been  delivered  an
Opinion  of  Counsel  to the effect that (A)  any  securities  or
interests issued in conjunction with such sale, exchange, pledge,
participation  and assignment and sold to third parties  will  be
characterized  as  either indebtedness or  partnership  interests
(other  than  interests  in a publicly  traded  partnership)  for
Federal and applicable state income tax purposes, (B) such  sale,
exchange,  pledge, participation and assignment or such  issuance
will not adversely affect the Federal and applicable state income
tax  characterization  of  any  outstanding  Series  of  Investor
Certificates  (other  than the Class E Certificates,  as  to  the
characterization of which Counsel shall express no opinion),  and
(C) such sale, exchange, pledge, participation and assignment  or
such  issuance will not result in the Trust being subject to  tax
at  the  entity level for Federal or applicable state income  tax
purposes; (ii) the holders of any securities or interests  issued
in  conjunction  with such sale, exchange, pledge,  participation
and  assignment  (or  any trustee or collateral  agent  on  their
behalf) covenant and agree that, prior to the date which  is  one
year  and  one  day after the payment in full of all  outstanding
investor  certificates issued by the Trust,  none  of  them  will
institute  against,  or  join  any other  Person  in  instituting
against,   the   Transferor   any   bankruptcy,   reorganization,
arrangement,  insolvency  or  liquidation  proceedings  or  other
similar  proceeding under the laws of the United  States  or  any
state  of  the United States, and the Trustee shall have received
an  Officer's Certificate to that effect; (iii) if the Person  to
whom  the  Class  E  Certificates  or  any  interest  therein  is
transferred, sold, exchanged, pledged, participated or  otherwise
assigned in whole or in part is SRI or any of its Affiliates  and
the  Enhancement  Date  has  occurred,  the  Insurer  shall  have
received  true sale and no-substantive consolidation opinions  as
to  the same transfers and entities as are covered by the opinion
of  Kirkland  &  Ellis on such matters delivered  on  the  Series
1999-1  Closing  Date,  issued  by  Kirkland  &  Ellis  or  other
nationally recognized counsel to the Transferor; and (iv) if  the
Person  to whom the Class E Certificates or any interest  therein
is   transferred,  sold,  exchanged,  pledged,  participated   or
otherwise assigned in whole or in part is not SRI or any  of  its
Affiliates  and  the Enhancement Date has occurred,  the  Insurer
shall  have  consented to such transfer, sale, exchange,  pledge,
participation or assignment (such consent not to be  unreasonably
withheld  or delayed), provided that no consent from the  Insurer
shall be required in connection with any pledge of the cash flows
from  the  Class  E  Certificates that complies  with  the  other
requirements above.  The Servicer shall give the Rating  Agencies
prompt  written  notice of the transfer, sale, exchange,  pledge,
participation or other assignment of the Class E Certificates  or
any interest therein.

     (d)   Notwithstanding anything to the contrary  herein,  the
Servicer  shall  be  entitled  to withhold  any  amount  that  it
determines  in  its sole discretion is required  to  be  withheld
pursuant  to  Section 1446 of the Internal Revenue Code  and  the
Paying  Agent  or the Trustee shall be entitled to  withhold  any
amount that it is directed in writing by the Servicer to withhold
pursuant  to  Section 1446 of the Internal Revenue Code  and  any
such  amount withheld shall be deemed to have been paid  for  all
purposes  of this Series Supplement with respect to the  Class  C
Certificates and the Class D Certificates.

     (e)   Each initial purchaser of the Class C Certificates  or
the Class D Certificates or any interest therein and any assignee
thereof  pursuant  to  Exhibit  E shall  certify,  represent  and
warrant  to Transferor, the Servicer, the Trustee and the Insurer
that  it  is  either (A)(i) a citizen or resident of  the  United
States,  (ii) a corporation, partnership or other entity  created
or  organized  in or under the laws of the United States  or  any
political  subdivision thereof which, if such entity  is  a  tax-
exempt  entity,  recognizes that payments with  respect  to  such
Certificates may constitute unrelated business taxable income  or
(iii)  an  entity not described in (ii) whose ownership  of  such
Certificates  is effectively connected with such  purchaser's  or
such  assignee's conduct of a trade or business within the United
States  (within  the  meaning of the Internal  Revenue  Code)  or
(B)(i)  an  estate,  the income of which is includible  in  gross
income  for United States Federal income tax purposes, regardless
of  its  source,  or  (ii) a trust if a U.S.  court  is  able  to
exercise primary supervision over the administration of the trust
and  one  or more U.S. persons have the authority to control  all
substantial  decisions of the trust or if the trust has  made  an
election  to  be  treated  as  a  U.S.  person.   Each  Class   C
Certificateholder and Class D Certificateholder agrees that  upon
its purchase or the transfer to it of a Class C Certificate or  a
Class D Certificate, as applicable and prior to the date on which
the first interest payment on the such Certificate is due to such
holder,  it will provide to the Servicer and the Trustee  (i)  if
such  Certificateholder is created or organized in or  under  the
laws  of  a  jurisdiction  outside the United  States,  two  duly
completed  copies of United States Internal Revenue Service  Form
4224  or  new Form W-8ECI or any successor applicable or required
forms,  (ii)  a  duly  completed copy of United  States  Internal
Revenue  Service Form W-9 or any successor applicable or required
forms,  and  (iii)  such other forms and information  as  may  be
required  to confirm the availability of any applicable exemption
from  United  States  Federal, state or local withholding  taxes.
Each  Class  C  Certificateholder and Class  D  Certificateholder
agrees to provide to the Servicer and the Trustee like additional
subsequent duly completed forms satisfactory in the determination
of  the Servicer on or before the date that any such form expires
or  becomes  obsolete,  or  upon  the  occurrence  of  any  event
requiring an amendment, resubmission or change in the most recent
form  previously delivered by it, and to provide such  extensions
or renewals as may be reasonably requested by the Servicer or the
Trustee.   Each Class C Certificateholder and Class D Certificate
holder  shall, in the Investment Letter set forth in  Exhibit  F,
certify, represent and warrant that as of the Closing Date, or in
the  case  of a Class C Certificateholder and Class D Certificate
holder that is an assignee, as of the date of the related Class C
Certificate  Assignment  or  Class D Certificate  Assignment,  as
applicable,  that (a) its ownership of a Class C  Certificate  or
Class  D  Certificate,  as applicable, will  not  result  in  any
withholding obligation with respect to any payments with  respect
to  such  Certificate with respect to any Person and  (b)  unless
otherwise  consented  to  by  the Transferor,  if  such  Class  C
Certificateholder and Class D Certificateholder  is  incorporated
or  organized  under the laws of a jurisdiction  outside  of  the
United States, it has (x) a rating of "BBB" or better from  Fitch
IBCA,  Inc.  or "Baa2" or better from Moody's Investors  Service,
Inc.  and (y) balance sheet assets at least $100 million of which
are effectively connected with its conduct of a trade or business
in  the  United States within the meaning of the Internal Revenue
Code.

     (f)    Each   Class   C  Certificateholder   and   Class   D
Certificateholder  agrees  with the Transferor  and  the  Trustee
that:  (i)  such Certificateholder will deliver to the Transferor
and   the  Trustee  and,  only  with  respect  to  the  Class   D
Certificates, to the Insurer on or before the Closing  Date,  and
on  or  before  the  effective date of any  Class  C  Certificate
Assignment  or  Class D Certificate Assignment, as applicable,  a
letter  in  the form annexed hereto as Exhibit F (an  "Investment
Letter"),  executed  by  the  such  Certificateholder,  or   such
assignee Class C Certificateholder and Class D Certificateholder,
in  the  case  of  a Class C Certificate Assignment  or  Class  D
Certificate  Assignment,  as  applicable,  with  respect  to  the
purchase by such Certificateholder of an interest relating to the
Class  C  Certificate or Class D Certificate, as applicable,  and
(ii) all of the statements made by such Certificateholder in  its
Investment Letter shall be true and correct as of the date made.

     (g)    Each   Class   C  Certificateholder   and   Class   D
Certificateholder  pursuant  to  its  Investment   Letter   shall
severally  represent,  warrant  and  covenant  that:   (i)   such
Certificateholder has not acquired and shall not sell,  trade  or
transfer  any  interest in the Class C Certificates  or  Class  D
Certificates,  as  applicable, nor  cause  any  interest  in  the
Class  C Certificates or Class D Certificates, as applicable,  to
be  marketed, on or through either (A) an "established securities
market"  within the meaning of Section 7704(b)(1) of the Internal
Revenue  Code and any Treasury regulation thereunder,  including,
without  limitation, an over-the-counter-market or an interdealer
quotation  system that regularly disseminates firm  buy  or  sell
quotations  or  (B)  a  "secondary market"  (or  the  substantial
equivalent thereof)" within the meaning of Section 7704(b)(2)  of
the Internal Revenue Code and any Treasury regulation thereunder,
including  a market wherein interests in the Class C Certificates
or  Class D Certificates, as applicable, are regularly quoted  by
any person making a market in such interests and a market wherein
any  Person  regularly makes available bid or offer  quotes  with
respect  to  interests  in the Class C Certificates  or  Class  D
Certificates,  as applicable, and stands ready to effect  buy  or
sell transactions at the quoted price for itself or on behalf  of
others,  and (ii) unless the Transferor consents otherwise,  such
Certificateholder is not, and shall not become, a partnership, an
"S" corporation" or a grantor trust, in each case as described in
the  Internal  Revenue Code. In the event of any  breach  of  the
representation,    warranty   and   covenant    of    any    such
Certificateholder  that  such  Certificateholder   shall   remain
classified  as  other than a partnership, an S corporation  or  a
grantor trust, such Certificateholder shall notify the Transferor
promptly  upon  such Certificateholder's becoming aware  of  such
breach, and thereupon such Certificateholder hereby agrees to use
reasonable  efforts to produce a replacement  investor  which  is
acceptable   to   the   Transferor  to  replace   such   affected
Certificateholder. In any such event, the Transferor  shall  also
have  the  right to procure a replacement investor. Each affected
Class  C  Certificateholder and Class D Certificateholder  hereby
agrees  to  take  all actions necessary to permit  a  replacement
investor to succeed to its rights and obligations hereunder. Each
Class  C  Certificateholder and Class D  Certificateholder  shall
acknowledge in the Investment Letter that the portion of the  Tax
Opinion  to  the effect that the Trust will not be treated  as  a
publicly traded partnership taxable as a corporation is dependent
in part on the accuracy of the certifications described above.

     (h)     No   Class   C   Certificateholder   or   Class    D
Certificateholder may sell, convey, assign, hypothecate,  pledge,
participate  or  otherwise transfer its Class C  Certificates  or
Class  D Certificates or any interest in the Class C Certificates
or Class D Certificates (each, a "Class C Certificate Assignment"
or  "Class  D  Certificate Assignment," as  applicable),  to  any
Person,  unless (i) the Transferor shall have granted  its  prior
written   consent  (which  consent  shall  not  be   unreasonably
withheld,  it being understood, however, that the Transferor  may
disapprove  such  Class  C  Certificate  Assignment  or  Class  D
Certificate Assignment to an assignee that is a competitor in the
credit card business and that, in addition, such consent need not
be  granted if, among other things, the Transferor determines  in
its  sole  and  absolute  discretion that such  assignment  would
create or increase a risk that the Trust would be classified  for
Federal or any applicable state tax purposes as an association or
publicly  traded partnership taxable as a corporation); provided;
however,  that  any attempted Class C Certificate  Assignment  or
Class  D  Certificate Assignment shall be void  unless  (i)  such
proposed  assignee  Certificateholder  shall  comply  with   this
Section  12(i)  and shall have delivered to the Trustee  and  the
Transferor, prior to the effectiveness of such assignment, a copy
of    the   Investment   Letter   under   which   such   assignee
Certificateholder  has made the representations,  warranties  and
covenants  required to be made pursuant to Section 12, (ii)  such
proposed   assignee   shall  provide  the  forms   described   in
clauses  (i),  (ii) and (iii) of subsection 12(f) in  the  manner
described therein, (iii) the number of Private Holders would  not
exceed,  as  of  the  date of the proposed  Class  C  Certificate
Assignment  or Class D Certificate Assignment, eighty  (80),  and
(iv)  the  number  of  Private Holders owning  interests  in  the
Class C Certificates or Class D Certificates would not exceed, as
of  the  date of the proposed Class C Certificate Assignment  and
Class D Certificate Assignment, six (6) or such greater number as
may  be  consented to by the Transferor in its sole and  absolute
discretion; provided further, that the Transferor agrees to  hold
the Trustee harmless against any damage attributable to a Class C
Certificate Assignment or Class D Certificate Assignment which is
voided  by  reason  of  clause (iii) or  (iv)  of  the  preceding
provisions. In connection with any Class C Certificate Assignment
or Class D Certificate Assignment, the assignor Certificateholder
shall  submit  a  request in writing to the  Trustee  (who  shall
promptly deliver it to the Transferor) for the written consent of
the  Transferor,  and the Transferor shall respond  to  any  such
request within ten (10) Business Days after its receipt, it being
understood  that the obtaining of such consent is a condition  to
the  effectiveness  of  such  Class C Certificate  Assignment  or
Class  D  Certificate Assignment. Each assignee Certificateholder
is  subject to the terms and conditions of subsection 12(f) on an
ongoing  basis and shall make the certifications, representations
and    warranties   contained   therein,   and   the    assigning
Certificateholder shall certify, represent and warrant  that  its
assignee's   certifications,   representations   and   warranties
thereunder are true. It shall be a condition to the completion of
any  Class  D  Certificate Assignment that the Insurer  shall  be
entitled  to  the benefits of all representations and  warranties
made,  and  any  indemnities provided, in  connection  with  such
assignment.

     (i)   None  of  the  Class  C  Certificates,  the  Class   D
Certificates  or  any interest therein may  be  offered  or  sold
except   to  a  Person  whom  the  transferor  of  the  Class   C
Certificates  or Class D Certificates, as applicable,  reasonably
believes  is a Qualified Institutional Buyer purchasing  for  its
own  account  in  accordance with Rule 144A under the  Securities
Act.  Prospective investors in the Class C Certificates  and  the
Class D Certificates are hereby notified that transferors of  the
Class C Certificates and the Class D Certificates are relying  on
the  exemption from the provisions of the Securities Act provided
by  Rule  144A.  Each  of the Class C Certificateholder  and  the
Class  D  Certificateholder and each beneficial owner of Class  C
Certificates and Class D Certificates, by its acceptance  thereof
or   of  such  beneficial  interest,  will  be  deemed  to   have
represented  and  agreed as follows: (i)  such  Holder  or  owner
understands  that  the  Class  C Certificates  and  the  Class  D
Certificates  and, only with respect to the Class D Certificates,
the  Policy  have not been and will not be registered  under  the
Securities  Act  or any state or other applicable securities  law
and  may  not  be  offered, sold or otherwise transferred  unless
registered  pursuant to, or exempt from registration  under,  the
Securities   Act  and  any  other  applicable  securities   laws,
(ii)  such  Holder  or  owner will not  offer,  sell,  pledge  or
otherwise  transfer such Class C Certificates  or  such  Class  D
Certificates  or any interest therein at any time except  to  the
Transferor  or to a Person whom such transferor of  the  Class  C
Certificates or the Class D Certificates reasonably believes is a
Qualified  Institutional Buyer purchasing for its own account  in
accordance  with  Rule  144A to whom notice  is  given  that  the
reoffer,  resale,  pledge  or other transfer  is  being  made  in
reliance  on  Rule  144A and after delivery of the  documentation
required by the Agreement and this Series Supplement, (iii)  such
Holder or owner is a Qualified Institutional Buyer purchasing for
its own account in accordance with Rule 144A under the Securities
Act  and has received notice that the reoffer, resale, pledge  or
other  transfer  is  being made in reliance  on  Rule  144A,  and
(iv) such Holder or owner acknowledges that confirmations of  the
issuance and transfer of the Class C Certificates or the Class  D
Certificates  will  bear a legend as provided  in  Section  12(b)
hereof.

     (j)  No Class C Certificates, Class D Certificates or  other
interest  therein may be transferred (including  in  the  initial
offering) unless the transferee shall have executed and delivered
an  Investment Letter and the Transferor shall have  granted  its
prior written consent thereto.

     SECTION  13.  Additional Series 1999-1 Provisions.  (a)  Any
Issuance  Supplement  may  include provisions  granting  consent,
notice or other rights to the holders of the Class A Certificates
or  Class B Certificates issued thereunder or to an agent of such
holders  or  imposing additional requirements upon the Transferor
or the Servicer.

     (b)   Section  10.1  of  the Agreement  shall  read  in  its
entirety  as  provided in the Agreement, and,  in  addition,  the
following  clause  (e) shall be added after clause  (d)  of  such
Section  and  shall  be  applicable only  to  the  Series  1999-1
Certificates:

          "(e)  the Servicer shall fail to promptly pay  the
     reasonable   fees  and  expenses  of  the  Trustee   in
     connection with the identification and appointment of a
     back-up  servicer  or  to pay the reasonable  fees  and
     expenses  of  the  back-up servicer in accordance  with
     Section 3.4(e).".

     (c)  Section 3.4 of the Agreement shall read in its entirety
as  provided  in the Agreement, and, in addition,  the  following
clauses  (d)  and  (e) shall be added after clause  (c)  of  such
Section  and  shall  be  applicable only  to  the  Series  1999-1
Certificates:

          "(d) Back-up Data.

               (i)  The Servicer shall provide to the Trustee not
     later  than  the  fifth Business Day of each calendar  month
     computer  readable  copies  of back-up  data  regarding  the
     Receivables sufficient to enable the recipient of such back-
     up  data to service the Receivables. The Trustee shall  take
     all  actions necessary to confirm that the back-up  data  is
     computer  readable, and shall promptly provide a  letter  of
     receipt to the Servicer and the Insurer substantially in the
     form  of  Exhibit  G confirming that such  back-up  data  is
     computer  readable.  The Trustee shall retain  such  back-up
     data  for  a period of not less than three months,  and  may
     thereafter return the back-up data to the Servicer.

               (ii)       After  the  appointment  of  a  back-up
     servicer by the Trustee, the Servicer shall provide to  such
     back-up servicer not later than the 5th Business Day of each
     calendar   month  copies  of  back-up  data  regarding   the
     Receivables sufficient to enable the recipient of such back-
     up data to service the Receivables.  Upon its receipt of the
     back-up data from the Servicer, the back-up servicer will be
     required  to  promptly perform specified  computations  with
     respect  to  the  data  and to verify the  results  of  such
     computations  with  the Servicer.  Any  discrepancy  in  the
     results  must  be promptly reported by the Servicer  to  the
     Insurer.

          (e)   The Insurer may direct the Trustee in writing  to
     appoint a back-up servicer upon the occurrence of any of the
     following   events:   (A)  the  Rapid  Amortization   Period
     commences;  (B) as of any Determination Date, the  Quarterly
     Excess  Spread Percentage for the related Distribution  Date
     is  less than 1%; or (C) the long-term senior debt rating of
     Stage  Stores  Inc.  falls below B3  by  Moody's  or  B-  by
     Standard  &  Poor's  or is withdrawn by  either  Moody's  or
     Standard & Poor's.".

     (d)   Upon the occurrence of a Servicer Default, and so long
as  such Servicer Default has not been remedied, the Insurer  may
terminate all of the rights of and obligations of the Servicer as
servicer  under the Agreement by written notice to  the  Servicer
and  to  the  Trustee  and require that a Successor  Servicer  be
appointed  (which will be back-up servicer referred to  above  if
one has been appointed).

     (e)  Without the consent of the Insurer (which consent shall
not  be  unreasonably  withheld  or  delayed  and  shall  not  be
conditioned  upon  the  payment  of  any  consent  fee,   however
denominated) and, in the case of clause (i) below, notice to each
Rating  Agency, the Transferor, the Servicer or the  Trustee,  as
applicable, shall not (i) reduce the numerators used to determine
the  Class  A  Fixed  Allocation Percentage, the  Class  B  Fixed
Allocation  Percentage, the Class C Fixed Allocation  Percentage,
the  Class  D  Fixed  Allocation Percentage, the  Class  E  Fixed
Allocation  Percentage  or  the Fixed  Allocation  Percentage  in
connection  with  any  paired Series, (ii) establish  a  Class  E
Certificate  Rate  that  is  greater  than  zero  or  amend   the
definition of "Carryover Class E Interest," (iii) invest  in  any
Cash Equivalent pursuant to clause (d) of the definition of "Cash
Equivalents"  in the Agreement, (iv) reduce the Required  Reserve
Account   Amount,  (v)  increase  the  percentage  of   Principal
Receivables  referred  to in the proviso to  clause  (c)  of  the
definition of "Eligible Receivable" in the Agreement, (vi) remove
the Trustee pursuant to clause (b), (c) or (d) of Section 11.7 of
the  Agreement or (vii) increase the amount of Senior  Facilities
Costs  or  Mezzanine Facilities Costs that may be  paid  for  any
Interest Accrual Period.

     (f)   When  the  taking  of any action contemplated  by  the
Agreement  or  this  Series  Supplement  is  conditioned  upon  a
determination  from the Rating Agency then rating  any  Class  of
Certificates  that such action will not cause such Rating  Agency
to   downgrade   or  withdraw  its  rating  of  such   Class   of
Certificates,  with  respect to the  Class  D  Certificates  such
determination shall be made without regard to the Policy by those
Rating  Agencies  that  have issued  a  rating  of  the  Class  D
Certificates without regard to the Policy.

     (g)  A copy of each notice required to be sent to the Rating
Agency or  required to be delivered pursuant to Section 2.5(l) or
2.7(b)(iv)  of the Agreement, and a copy of each letter  obtained
from  any  Rating  Agency pursuant to Section 2.8(a)(ii)  of  the
Agreement, shall also be sent or delivered to the Insurer.

     (h)   The  Insurer shall have the right to  (A)  access  any
records of the Servicer to which the Trustee is given access  and
(B)  receive the Daily Report, in each case on the same terms  as
the Trustee.

     (i)   The Insurer shall have the right to vote in the  stead
of the Class D Certificateholders on all matters set forth in the
Agreement  or  this  Series Supplement  for  which  the  Class  D
Certificateholders are entitled to vote.

     (j)   Any  Trust Account maintained for the benefit  of  the
Certificateholders shall also be maintained for  the  benefit  of
the Insurer, as its interests may appear.

     (k)  Notwithstanding anything herein or in the Agreement  to
the   contrary,   the  Holders  of  Series  1999-1   Certificates
evidencing Undivided Interests aggregating more than 66  2/3%  of
the  Invested  Amount  (and  not any lesser  percentage)  or  the
Insurer  may (i) direct the Transferor to accept reassignment  of
Receivables  as set forth in Section 2.6(e) of the Agreement  and
(ii)  terminate all the rights of the Servicer as  set  forth  in
Section 10.1 of the Agreement.

     (l)   For  the purposes of this Series only, Section 12.1(c)
of the Agreement shall read in its entirety as follows:

          "(c)  All  principal or interest with  respect  to  the
     Series 1999-1 Certificates shall be due and payable no later
     than  the  Series  Termination Date  with  respect  to  such
     Series.   In  the  event that the Invested  Amount  of  such
     Series  of  Certificates is greater than zero on its  Series
     Termination  Date (the "Affected Series") or there  are  any
     unpaid  Reimbursement Amounts, after giving  effect  to  all
     transfers,  withdrawals, deposits and drawings to  occur  on
     such  date and the payment of principal to be made  on  such
     Series on such date, the Servicer will sell or cause  to  be
     sold, and the Trustee upon written direction by the Servicer
     will  pay the proceeds to all Certificateholders (other than
     the  Class E Certificateholders) of such Series in order  of
     their respective seniorities, then to the Insurer the amount
     of any unpaid Reimbursement Amounts, and then to the Class E
     Certificateholders  an amount of Principal  Receivables  and
     the   related  Finance  Charge  Receivables  (or   interests
     therein) up to 110% of the Invested Amount of such Series at
     the  close of business on such date (but the amount of  such
     Principal  Receivables  not to be more  than  an  amount  of
     Receivables equal to the sum of (1) the product of  (A)  the
     Transferor   Percentage,  (B)  the   aggregate   outstanding
     Principal  Receivables and (C) a fraction the  numerator  of
     which is the Invested Amount of such Series on such date and
     the  denominator of which is the sum of the Invested Amounts
     of  all  Series on such Date and (2) the Invested Amount  of
     such Series).  Receivables on which the Obligor has not made
     the  full  minimum  payment for the prior  months  shall  be
     deemed to be in default for purposes of this Section 12.1(c)
     to  the  extent  that the cash allocated  to  any  Class  of
     Transferor Retained Certificates of such Series pursuant  to
     a  sale  under Section 12.1(c) is less than the amount  that
     would  have  been  allocated to the Exchangeable  Transferor
     Certificate and the Transferor Retained Certificates had the
     proceeds   from  such  sale  been  allocated   pursuant   to
     Section  4.3. The Servicer shall notify the Insurer  of  the
     proposed  sale  of  such Receivables and shall  provide  the
     Insurer  an  opportunity to bid on  such  Receivables.   The
     Transferor  shall be permitted to purchase such  Receivables
     in  such  case and shall have a right of first refusal  with
     respect  thereto to the extent of a bona fide  offer  by  an
     unrelated  third  party  or to the  extent  the  Receivables
     represent Defaulted Receivables.  Any proceeds of such  sale
     in   excess  of  such  principal  and  interest  and  unpaid
     Reimbursement  Amounts paid shall be paid to the  Holder  of
     the  Exchangeable Transferor Certificate.  Upon such  Series
     Termination  Date with respect to the applicable  Series  of
     Certificates, final payment of all amounts allocable to  any
     Investor  Certificates of such Series shall be made  in  the
     manner provided in Section 12.3.".

     (m)  For purposes of this Series only, Section 2.5(c) of the
Agreement shall read in its entirety as follows:

          "(c)   Charge   Account  Agreements  and   Credit   and
     Collection Policies.  The Transferor shall comply  with  and
     perform   its   obligations  and  shall  take  all   actions
     reasonably within its control to cause the Account Owners to
     comply  with and perform their obligations under the  Charge
     Account  Agreements relating to the Accounts and the  Credit
     and  Collection  Policy except insofar  as  any  failure  to
     comply  or perform would not materially and adversely affect
     the  rights  of  the  Trust, the Certificateholders  or  the
     Insurer hereunder or under the Certificates.  The Transferor
     may  change,  and permit the Account Owners to  change,  the
     terms and provisions of the Charge Account Agreements or the
     Credit  and  Collection  Policy in any  respect  (including,
     without  limitation, the reduction of the  required  minimum
     monthly  payment,  the calculation of  the  amount,  or  the
     timing, of charge offs and the periodic finance charges  and
     other  fees  to  be assessed thereon) only  if  such  change
     (individually  or taken together with all prior  changes  to
     the terms and provisions of the Charge Account Agreements or
     the  Credit  and Collection Policy) (i) would  not,  in  the
     reasonable  belief of the Transferor, cause, immediately  or
     with  the  passage  of time, a Pay Out Event  to  occur  and
     (ii)  (A)  (if it owns a comparable segment of  charge  card
     accounts)  is made applicable to the comparable  segment  of
     the  revolving credit card accounts owned by the Transferor,
     if   any,  which  have  characteristics  the  same  as,   or
     substantially similar to, the Accounts that are the  subject
     of such change and (B) (if it does not own such a comparable
     segment)  will  not  be made with the intent  to  materially
     benefit  the Transferor over the Investor Certificateholders
     or  the  Insurer  or  to  materially  adversely  affect  the
     Investor  Certificateholders  or  the  Insurer,  except   as
     otherwise  restricted  by  an endorsement,  sponsorship,  or
     other  agreement  between the Transferor  and  an  unrelated
     third   party  or  by  the  terms  of  the  Charge   Account
     Agreements.   If  any  such change  (individually  or  taken
     together  with all prior changes to the terms and provisions
     of   the  Charge  Account  Agreements  or  the  Credit   and
     Collection  Policy made after the later of  the  Enhancement
     Date   and  the  date  of  the  last  Officer's  Certificate
     delivered  pursuant  to the following  requirement)  affects
     more than 10% of the Accounts, the Transferor shall not make
     such change effective until the Transferor has delivered  an
     Officer's  Certificate of the Transferor to the Trustee  and
     the Insurer to the effect of clauses (i) and (ii) above.".

     (n)   The  Transferor and the Servicer shall not enter  into
any  amendment  to the Agreement or this Supplement  pursuant  to
Section  13.1(a) of the Agreement unless the Servicer shall  have
provided  an Officer's Certificate to the Insurer to  the  effect
that such amendment will not materially and adversely affect  the
interests  of  the  Insurer  or  the Certificateholders  (without
regard to the Policy).

     (o)  The Insurer shall have the right to notify the Servicer
and  the  Trustee  of any event described in Section  10.1(b)  or
10.1(c)  of  the Agreement, and such notice shall have  the  same
effect as a notice of such event given under the relevant Section
by   Holders   of  Investor  Certificates  evidencing   Undivided
Interests aggregating not less than 50% of the Invested Amount of
any Series materially adversely affected by such event.

     (p)   For  purposes  of Section 8.4 of  the  Agreement,  the
Insurer  shall be an "Indemnified Party," and the Servicer  shall
indemnify  the  Insurer  against the matters  specified  in  such
Section 8.4 on the same terms as if the Insurer were named as  an
"Indemnified Party" directly in such Section.

     SECTION  14. Ratification of Agreement.  As supplemented  by
this Series Supplement, the Agreement is in all respects ratified
and confirmed and the Agreement as so supplemented by this Series
Supplement  shall be read, taken, and construed as  one  and  the
same instrument.

     SECTION  15.  Counterparts.  This Series Supplement  may  be
executed in any number of counterparts, each of which so executed
shall  be  deemed to be an original, but all of such counterparts
shall together constitute but one and the same instrument.

     SECTION 16.  GOVERNING LAW.  THIS SERIES SUPPLEMENT SHALL BE
CONSTRUED  IN ACCORDANCE WITH THE LAWS OF THE STATE OF  NEW  YORK
WITHOUT  REFERENCE  TO ITS CONFLICT OF LAW  PROVISIONS,  AND  THE
OBLIGATIONS,  RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER  SHALL
BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     SECTION  17.   The  Trustee.   The  Trustee  shall  not   be
responsible  in  any manner whatsoever for or in respect  of  the
sufficiency of this Series Supplement or for or in respect of the
Preliminary Statement contained herein, all of which recitals are
made solely by the Transferor.

     SECTION  18.  Instructions in Writing. All  instructions  or
other communications given by the Servicer or any other person to
the  Trustee  pursuant  to this Series  Supplement  shall  be  in
writing, and, with respect to the Servicer, may be included in  a
Daily Report or Settlement Statement.

     SECTION 19.  Provision of Information to Certificateholders.
For  so  long  as the Series 1999-1 Certificates are outstanding,
the  Servicer shall provide or cause to be provided to any Series
1999-1  Certificateholder and any prospective purchaser of Series
1999-1    Certificates   designated   by   such   Series   1999-1
Certificateholder,  upon  the  request  of  such  Series   1999-1
Certificateholder  or  prospective  purchaser,  the   information
required  to  be provided to such Series 1999-1 Certificateholder
or  prospective purchaser pursuant to Rule 144A(d)(4) promulgated
under the Securities Act.

     SECTION  20.   Limitation  of  Liability.  It  is  expressly
understood and agreed by the parties hereto that (a) this  Series
Supplement is executed and delivered by Bankers Trust (Delaware),
not  individually or personally but solely as Trustee under  this
Series  Supplement, in the exercise of the powers  and  authority
conferred and vested in it under the Trust Agreement, (b) each of
the  representations, undertakings and agreements herein made  on
the  part  of  the Trustee is made and intended not  as  personal
representations,  undertakings and agreements  by  Bankers  Trust
(Delaware)  but is made and intended for the purpose for  binding
only  the  Trustee and (c) under no circumstances  shall  Bankers
Trust  (Delaware)  be personally liable for the  payment  of  any
indebtedness  or  expenses of the Trustee or be  liable  for  the
breach or failure of any obligation, representation, warranty  or
covenant  made  or  undertaken by the Trustee under  this  Series
Supplement or the other related documents.

     SECTION  21.   Insurer  as  Third  Party  Beneficiary.   The
Insurer  and  its  successors and assigns shall  be  third  party
beneficiaries to the provisions of this Series Supplement and the
Agreement,  and  shall be entitled to rely upon and  directly  to
enforce  such  provisions  of  this  Series  Supplement  and  the
Agreement.

     SECTION 22.  Certain Matters Relating to the Policy and  the
Insurer. Pursuant to the Enhancement Supplement, the Servicer and
the  Transferor have made representations and warranties  to  the
Insurer   as   set   forth   therein.   All   of   the   Investor
Certificateholders as of the Enhancement Date have  consented  to
the  terms  of the Enhancement Supplement. After the  Enhancement
Date:

     (a)   Prior  to  12:00  noon, Bermuda  time,  on  the  third
Business Day preceding each Distribution Date, the Servicer shall
determine  whether  there  will be a  Deficiency  Amount  on  the
following  Distribution  Date.  If the Servicer  determines  that
there  will  be a Deficiency Amount on the following Distribution
Date,  the  Servicer shall complete the notice in  the  form  set
forth  as  an  exhibit to the related Policy (the  "Notice")  and
submit  such Notice in accordance with the Policy to the  Insurer
no later than 3:00 p.m., Bermuda time, on such Business Day, as a
claim  for  an  Insured  Payment  in  an  amount  equal  to  such
Deficiency  Amount.   The Insurer shall  remit  or  cause  to  be
remitted to the Trustee such Deficiency Amount in accordance with
the  terms of the Policy.  Any payment made by the Insurer  under
the Policy shall be applied solely to the payment of the Class  D
Certificates, and for no other purpose.

     (b)   The  Trustee shall (i) receive as attorney-in-fact  of
the  applicable  owners an Insured Payment from the  Insurer  and
(ii)   deposit   the  same  in  the  Distribution   Account   for
distribution  to the Class D Certificateholders  as  provided  in
Sections  4.12  and  4.13  hereof.   All  such  amounts  in   the
Distribution  Account  shall  remain  uninvested.   Any  and  all
Insured Payments disbursed by the Trustee from claims made  under
the  Policy  shall not be considered payment by  the  Trust  with
respect  to  the  Class D Certificates nor  shall  such  payments
discharge the obligation of the Trust with respect to the Class D
Certificates  and  the Insurer shall become  the  owner  of  such
unpaid  amounts due from the Trust in respect of Insured Payments
as   the  deemed  assignee  of  the  Class  D  Certificates,   as
hereinafter  provided.  The Trustee, on behalf of  each  Class  D
Certificateholder, hereby agrees for the benefit of  the  Insurer
that  it  recognizes that to the extent the Insurer pays  Insured
Payments, either directly or indirectly (as by paying through the
Trustee), to the Class D Certificateholders, the Insurer (A) will
be  subrogated  to  the rights of the Class D  Certificateholders
with  respect  to  such  Insured Payment and  (B)  shall  receive
available funds in accordance with Sections 4.12 and 4.13  hereof
until  all  such Insured Payments by the Insurer  are  repaid  in
full.   To  evidence  such subrogation, the  Transfer  Agent  and
Registrar  shall  note the Insurer's rights as  subrogee  on  the
registration books maintained by the Transfer Agent and Registrar
upon  receipt from the Insurer of proof of payment of any Insured
Payment.

     If  on  any  Distribution Date, the Trustee or the  Servicer
determines  that the Insurer has paid more under the Policy  than
is  required  by  the  terms hereof, the Trustee  shall  promptly
return such excess to the Insurer.

     The Trustee shall keep a complete and accurate record of the
amount  of  the  Insured  Payments  paid  into  the  Distribution
Account.  The Insurer shall have the right to inspect such record
during normal business hours upon prior notice to the Trustee.

     (d)   Upon written direction from the Servicer, the  Trustee
shall  transfer funds deposited into the Interest Funding Account
for   the   purpose   of  paying  Insurance  Premiums   and   any
Reimbursement Amounts during any Monthly Period to the Insurer by
wire  transfer of immediately available funds at such account  as
the  Insurer shall from time to time designate in accordance with
the Insurance Agreement.
                 [Signatures Follow]

     IN  WITNESS  WHEREOF, the Transferor, the Servicer  and  the
Trustee  have  caused this Series 1999-1 Supplement  to  be  duly
executed  by  their respective officers as of the  day  and  year
first above written.

                     SRI Receivables Purchase Co., Inc.,
                     Transferor

                     By: /s/ Charles M. Sledge
                       Name: Charles M. Sledge
                       Title: Senior Vice President

                     Specialty Retailers, Inc., Servicer

                     By: /s/ James A. Marcum
                     Name: James A. Marcum
                     Title: Vice Chairman/Chief Financial Officer

                     Bankers Trust (Delaware), not in its
                     individual capacity but solely as Trustee

                     By: /s/ Patricia M.F. Russo
                       Name: Patricia M.F. Russo
                       Title: Attorney in Fact
                                              Exhibit A

        [FORM OF CLASS E INVESTOR CERTIFICATE]

     THIS  CERTIFICATE  WAS ORIGINALLY ISSUED  IN  A  TRANSACTION
EXEMPT  FROM  REGISTRATION UNDER THE SECURITIES ACT OF  1933,  AS
AMENDED  (THE "SECURITIES ACT").  THIS CERTIFICATE HAS  NOT  BEEN
REGISTERED  UNDER  THE  SECURITIES ACT OR  ANY  APPLICABLE  STATE
SECURITIES LAW OF ANY STATE AND MAY NOT BE OFFERED, SOLD, PLEDGED
OR  OTHERWISE TRANSFERRED UNLESS REGISTERED PURSUANT TO OR EXEMPT
FROM   REGISTRATION  UNDER  THE  SECURITIES  ACT  AND  ANY  OTHER
APPLICABLE  SECURITIES  LAW  AND  THE  ADDITIONAL  CONDITIONS  TO
TRANSFER SPECIFIED IN THE AGREEMENT REFERRED TO BELOW SHALL  HAVE
BEEN SATISFIED.

     EACH  PURCHASER REPRESENTS AND WARRANTS FOR THE  BENEFIT  OF
SRI RECEIVABLES PURCHASE CO., INC. THAT SUCH PURCHASER IS NOT (I)
AN  EMPLOYEE  BENEFIT  PLAN (AS DEFINED IN SECTION  3(3)  OF  THE
EMPLOYEE  RETIREMENT  INCOME SECURITY ACT  OF  1974,  AS  AMENDED
("ERISA")) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA,
(II)  A  PLAN  DESCRIBED IN SECTION 4975(E)(1)  OF  THE  INTERNAL
REVENUE  CODE  OF  1986,  AS AMENDED, OR (III)  AN  ENTITY  WHOSE
UNDERLYING  ASSETS  INCLUDE PLAN ASSETS BY  REASON  OF  A  PLAN'S
INVESTMENT IN THE ENTITY.

No. ___                                       $________

             SRI RECEIVABLES MASTER TRUST
   FLOATING RATE CLASS E CERTIFICATE, SERIES 1999-1

     Evidencing an undivided interest in a trust, the  corpus  of
which consists of receivables generated from time to time in  the
ordinary   course  of  business  from  a  portfolio  of  consumer
revolving  credit card accounts generated or to be  generated  by
certain  subsidiaries (collectively, the "SRI  Subsidiaries")  of
Specialty  Retailers,  Inc. ("SRI" or the "Servicer")  and  other
assets  and interests constituting the Trust under the  Agreement
described below.

     (Not  an  interest  in  or  a  recourse  obligation  of  SRI
Receivables Purchase Co., Inc., SRI or any affiliate of either of
them.)

     This  certifies that SRI Receivables Purchase Co., Inc. (the
"Certificateholder")  is the registered  owner  of  a  fractional
undivided  interest  in  the SRI Receivables  Master  Trust  (the
"Trust")  issued  pursuant  to the Second  Amended  and  Restated
Pooling  and  Servicing Agreement, dated as of November  1,  1999
(the "Pooling and Servicing Agreement"; such term to include  any
amendment  or Supplement thereto) by and between SRI  Receivables
Purchase Co., Inc., as Transferor (the "Transferor"), SRI as  the
Servicer,   and  Bankers  Trust  (Delaware),  as   Trustee   (the
"Trustee"),  and  the  Series  1999-1  Supplement,  dated  as  of
November  9,  1999  (the "Series 1999-1 Supplement"),  among  the
Transferor,  SRI  as Servicer and the Trustee.  The  Pooling  and
Servicing  Agreement,  as  supplemented  by  the  Series   1999-1
Supplement, is herein referred to as the "Agreement."  The corpus
of the Trust consists of all of the Transferor's right, title and
interest in, to and under the Trust Property (as defined  in  the
Agreement).

     This Certificate does not purport to summarize the Agreement
and  reference  is  made to that Agreement for  information  with
respect   to   the  interests,  rights,  benefits,   obligations,
proceeds, and duties evidenced hereby and the rights, duties  and
obligations  of  the Trustee.  To the extent not defined  herein,
the  capitalized terms used herein have the meanings ascribed  to
them  in  the Agreement. This Certificate is one of a  Series  of
Certificates entitled "SRI Receivables Master Trust Floating Rate
Class   E   Certificates,   Series   1999-1"   (the   "Class    E
Certificates"),  each of which represents a fractional  undivided
interest in the Trust, and is issued under and is subject to  the
terms,  provisions  and  conditions of the  Agreement,  to  which
Agreement, as amended from time to time, the Certificateholder by
virtue  of  the  acceptance  hereof  assents  and  by  which  the
Certificateholder is bound.

     By  acceptance  of this Certificate or any interest  herein,
each  Class E Certificateholder agrees that it shall in no  event
permit  the  Class E Certificates or any interest therein  to  be
transferred, sold, exchanged, pledged, participated or  otherwise
assigned  hereunder,  in  whole or  in  part,  except  under  the
conditions specified in the Series 1999-1 Supplement.

     No   principal   will   be   payable   to   the   Class    E
Certificateholders   until   the  Class   E   Principal   Payment
Commencement  Date, which is the Distribution Date either  on  or
following  the  Distribution Date on which the Class  D  Invested
Amount  had  been paid in full.  No principal will be payable  to
the  Class E Certificateholders until all principal payments have
first been made to the Class A Certificateholders and then on and
after the Class B Principal Payment Commencement Date, after  all
principal   payments   have   been   made   to   the   Class    B
Certificateholders,  then  on and after  the  Class  C  Principal
Payment Commencement Date, after all principal payments have been
made to the Class D Certificateholders and then on and after  the
Class  D  Principal Payment Commencement Date, after all payments
have been made to the Class D Certificateholders.

     Interest will accrue on the unpaid principal amount  of  the
Class E Certificates at a per annum rate equal to 0.00% per annum
or such other rate designated by the Transferor with the approval
of each Rating Agency (the "Class E Certificate Rate").

     Subject  to the Agreement, payments of principal are limited
to   the   unpaid  Class  D  Invested  Amount  of  the  Class   E
Certificates,  which may be less than the unpaid balance  of  the
Class E Certificates pursuant to the terms of the Agreement.  All
principal of and interest on the Class E Certificates is due  and
payable no later than the [__________] Distribution Date  (or  if
such day is not a Business Day, the next succeeding Business Day)
(the  "Series  Termination Date").  After the Series  Termination
Date  neither the Trust nor the Transferor will have any  further
obligation  to distribute principal or interest on  the  Class  E
Certificates.  In the event that the Class E Invested  Amount  is
greater  than  zero on the Series Termination Date,  the  Trustee
shall  sell  or  cause  to be sold, to the extent  necessary,  an
amount  of  interests  in  the  Receivables  or  certain  of  the
Receivables  up  to  110%  of the Class A  Invested  Amount,  the
Class B Invested Amount, the Class C Invested Amount, the Class D
Invested  Amount and the Class E Invested Amount at the close  of
business  on  such date (but not more than the  total  amount  of
Receivables  allocable to the Investor Certificates),  and  shall
pay  the  proceeds to the Class A Certificateholders pro rata  in
final  payment of the Class A Certificates, then to the  Class  B
Certificateholders  pro  rata in final payment  of  the  Class  B
Certificates, then to the Class C Certificateholders pro rata  in
final  payment of the Class C Certificates, then to the  Class  D
Certificateholders  pro  rata in final payment  of  the  Class  D
Certificates  and  finally to the Class E Certificateholders  pro
rata in final payment of the Class E Certificates.

     It  is expressly understood and agreed by the parties hereto
that  (a)  this Certificate is executed and delivered by  Bankers
Trust  (Delaware), not individually or personally but  solely  as
Trustee,  (b)  each  of  the  representations,  undertakings  and
agreements  herein made on the part of the Trustee  is  made  and
intended  not  as  personal  representations,  undertakings   and
agreements  by Bankers Trust (Delaware) but is made and  intended
for  the  purpose for binding only the Trustee and (c)  under  no
circumstances shall Bankers Trust (Delaware) be personally liable
for the payment of any indebtedness or expenses of the Trustee or
be   liable   for  the  breach  or  failure  of  any  obligation,
representation,  warranty or covenant made or undertaken  by  the
Trustee under this Certificate.

     Unless  the  certificate of authentication hereon  has  been
executed  by  or  on behalf of the Trustee, by manual  signature,
this  Certificate shall not be entitled to any benefit under  the
Agreement, or be valid for any purpose.

     IN   WITNESS   WHEREOF,  the  Transferor  has  caused   this
Certificate to be duly executed under its official seal.

                     SRI Receivables Purchase Co., Inc.,
                     Transferor

                     By:
                       Name:
                       Title:

            CERTIFICATE OF AUTHENTICATION

          This is one of the Class E Certificates referred to in
the within-mentioned Pooling and Servicing Agreement.

Date:  November 9, 1999  bankers Trust (Delaware), not in its
                     individual capacity but solely as Trustee

     By:_____________________________________
Authorized Signatory

                                              Exhibit B

     [Form of ]Monthly Class D Certificateholders' Statement

           SRI RECEIVABLES MASTER TRUST, SERIES 1999-1
                  Month Ending __________, ____

This   document   shall   be   a  supplement   to   the   Monthly
Certificateholders' Statement, the form of which is  included  as
Exhibit C to the Series 1999-1 Supplement, and shall include  the
following  supplemental information for the immediately preceding
Monthly Period and the related Distribution Date:

Class D Certificates
     Class D Invested Amount                 $_________
     Class D Investor Default Amount         $_________
     Class D Uncovered Dilution Amount       $_________
     Other Reductions of Class D Invested Amount$_________
     Class D Floating Allocation Percentage       ____%

Spread Account
     Available Spread Account Amount         $_________
     Investment Earnings                     $_________
     Required Spread Account Amount          $_________
     Spread Account Deficiency               $_________

     Spread Account Percentage                    ____%
     Quarterly Excess Spread Percentage           ____%
     Excess Spread Percentage                     ____%

Withdrawals from Spread Account
To Class D Investors:
     Interest Deficiency                     $_________
     Reimbursement of Reduction of
       Class D Investor Principal Balance    $_________
     Class D Investor Default Amount
       or Class D Uncovered Dilution Amount  $_________

     To Spread Account Residual Interest Holders:
     Excess of Spread Account Amount over
       Required Spread Account Amount        $_________
     Investment Earnings                     $_________

Insured Payment                                   $________

Unreimbursed Insured Payment                      $________

                                                        Exhibit C

          Form of Monthly Certificateholders' Statement
                            [To Come]

                                              Exhibit D

                      FORM OF CONFIRMATION

                      Bankers Trust Company

                         4 Albany Street
                    New York, New York 10006

[Purchaser]
[Address]
Tax ID:

                      TRANSACTION STATEMENT

This statement serves to confirm your account position maintained
on books of Bankers Trust Company as Transfer Agent and Registrar
for:

ISSUE:    SRI Receivables Master Trust, Series 1999-1

ISSUE ID: [Class C][Class D] Certificates, Series 1999-1

HOLDER AS OF DATE   PRINCIPAL AMOUNT

                    SRI RECEIVABLES MASTER TRUST

     By:  BANKERS TRUST COMPANY,
          as Transfer Agent and Registrar

          Name:          Title:

SEE ATTACHED INFORMATION REGARDING CERTAIN PROVISIONS REGARDING
RESTRICTIONS ON TRANSFERS OF THE CLASS C CERTIFICATES AND THE
CLASS D CERTIFICATES.

THIS  STATEMENT IS MERELY A RECORD OF THE RIGHTS OF THE ADDRESSEE
AS  OF  THE TIME OF ITS ISSUANCE. DELIVERY OF THIS STATEMENT,  OF
ITSELF,  CONFERS  NO RIGHTS ON THE RECIPIENT. THIS  STATEMENT  IS
NEITHER A NEGOTIABLE INSTRUMENT NOR A SECURITY.

                  SRI RECEIVABLES MASTER TRUST
              CONFIRMATION OF ISSUANCE AND TRANSFER
                               OF
                CLASS C AND CLASS D FLOATING RATE
            ASSET BACKED CERTIFICATES, SERIES 1999-1

THIS  STATEMENT  IS  MERELY  A STATEMENT  OF  CERTAIN  PROVISIONS
REGARDING  RESTRICTIONS ON TRANSFER OF THE CLASS  C  CERTIFICATES
AND  THE  CLASS  D CERTIFICATES. DELIVERY OF THIS  STATEMENT,  OF
ITSELF,  CONFERS  NO RIGHTS ON THE RECIPIENT. THIS  STATEMENT  IS
NEITHER A NEGOTIABLE INSTRUMENT NOR A SECURITY.

EACH  PURCHASER AND HOLDER OF A CLASS C CERTIFICATE  OR  CLASS  D
CERTIFICATE  REPRESENTS  AND WARRANTS  FOR  THE  BENEFIT  OF  SRI
RECEIVABLES  PURCHASE  CO., INC. AND SPECIALTY  RETAILERS,  INC.,
[ADD  THE  FOLLOWING  WITH RESPECT TO CLASS D CERTIFICATES  ONLY]
[AND  R.V.I.  GUARANTY CO., LTD.] THAT SUCH PURCHASER  OR  HOLDER
EITHER  (A)  IS NOT (I) AN EMPLOYEE BENEFIT PLAN (AS  DEFINED  IN
SECTION  3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY  ACT  OF
1974, AS AMENDED ("ERISA")) THAT IS SUBJECT TO THE PROVISIONS  OF
TITLE I OF ERISA, (II) A PLAN OR OTHER ARRANGEMENT (INCLUDING  AN
INDIVIDUAL  RETIREMENT ACCOUNT OR KEOGH PLAN) THAT IS SUBJECT  TO
SECTION  4975  OF THE INTERNAL REVENUE CODE OF 1986,  AS  AMENDED
(THE  "CODE"), OR (III) A "BENEFIT PLAN INVESTOR" (AS DEFINED  IN
UNITED  STATES  DEPARTMENT  OF LABOR ("DOL")  REGULATION  SECTION
2510.3-101)  OR (B) IS AN INSURANCE COMPANY ACTING ON  BEHALF  OF
ITS  GENERAL ACCOUNT AND (I) ON THE DATE IT ACQUIRES  A  CLASS  C
CERTIFICATE OR A CLASS D CERTIFICATE, LESS THAN 25% OF THE ASSETS
OF SUCH GENERAL ACCOUNT (AS DETERMINED BY SUCH INSURANCE COMPANY)
CONSTITUTE  "PLAN ASSETS" FOR PURPOSES OF TITLE  I  OF  ERISA  OR
SECTION  4975 OF THE CODE, (II) IF AFTER THE INITIAL  ACQUISITION
OF  THE CLASS C CERTIFICATES OR CLASS D CERTIFICATES, DURING  ANY
CALENDAR  QUARTER  25%  OR MORE OF THE  ASSETS  OF  SUCH  GENERAL
ACCOUNT  (AS  DETERMINED  BY SUCH INSURANCE  COMPANY)  CONSTITUTE
"PLAN ASSETS" FOR PURPOSES OF TITLE I OF ERISA OR SECTION 4975 OF
THE  CODE  AND  NO  EXEMPTION OR EXCEPTION  FROM  THE  PROHIBITED
TRANSACTION RULES APPLIES TO THE CONTINUED HOLDING OF THE CLASS C
CERTIFICATES  OR  CLASS D CERTIFICATES UNDER  SECTION  401(c)  OF
ERISA  AND  FINAL  REGULATIONS  THEREUNDER  OR  AN  EXEMPTION  OR
REGULATION  ISSUED  BY THE DOL UNDER ERISA, THEN  SUCH  INSURANCE
COMPANY  WILL  DISPOSE  OF ALL OF THE CLASS  C  CERTIFICATES  AND
CLASS D CERTIFICATES THEN HELD IN ITS GENERAL ACCOUNT BY THE  END
OF  THE NEXT FOLLOWING CALENDAR QUARTER, AND (III) ON THE DATE IT
ACQUIRES  THE  CLASS C CERTIFICATES OR CLASS D  CERTIFICATES  AND
THROUGHOUT  THE  PERIOD  THAT IT HOLDS  THEM  IT  MEETS  ALL  THE
REQUIREMENTS OF AND IS ELIGIBLE FOR EXEMPTIVE RELIEF  UNDER  PTCE
95-60.

THE CLASS C CERTIFICATES AND THE CLASS D CERTIFICATES MAY NOT  BE
ACQUIRED, SOLD, TRADED OR TRANSFERRED, NOR MAY AN INTEREST IN THE
CLASS C CERTIFICATES OR THE CLASS D CERTIFICATES BE MARKETED,  ON
OR  THROUGH  (I)  AN "ESTABLISHED SECURITIES MARKET"  WITHIN  THE
MEANING  OF  SECTION  7704(b)(1) OF THE CODE  AND  ANY  PROPOSED,
TEMPORARY  OR  FINAL  TREASURY REGULATION THEREUNDER,  INCLUDING,
WITHOUT  LIMITATION, AN OVER-THE-COUNTER-MARKET OR AN INTERDEALER
QUOTATION  SYSTEM THAT REGULARLY DISSEMINATES FIRM  BUY  OR  SELL
QUOTATIONS  OR  (II)  A  "SECONDARY MARKET  (OR  THE  SUBSTANTIAL
EQUIVALENT THEREOF)" WITHIN THE MEANING OF SECTION 7704(b)(2)  OF
THE  CODE  AND  ANY TREASURY REGULATION THEREUNDER,  INCLUDING  A
MARKET  WHEREIN  INTERESTS IN THE CLASS  C  CERTIFICATES  OR  THE
CLASS D CERTIFICATES, AS APPLICABLE, ARE REGULARLY QUOTED BY  ANY
PERSON MAKING A MARKET IN SUCH INTERESTS AND A MARKET WHEREIN ANY
PERSON REGULARLY MAKES AVAILABLE BID OR OFFER QUOTES WITH RESPECT
TO  INTERESTS  IN  THE  CLASS  C  CERTIFICATES  OR  THE  CLASS  D
CERTIFICATES,  AS APPLICABLE AND STANDS READY TO  EFFECT  BUY  OR
SELL TRANSACTIONS AT THE QUOTED PRICES FOR ITSELF OR ON BEHALF OF
OTHERS.

THE  CLASS C CERTIFICATES AND THE CLASS D CERTIFICATES  [ADD  THE
FOLLOWING TO THE CLASS D CERTIFICATES ONLY] [AND THE POLICY] HAVE
NOT  BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES ACT  OF
1933,  AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES
LAW.  THE  HOLDER  OF  A  CLASS  C  CERTIFICATE  OR  A  CLASS   D
CERTIFICATE,  BY PURCHASING A CLASS C CERTIFICATE OR  A  CLASS  D
CERTIFICATE,  AGREES  THAT SUCH CERTIFICATES  MAY  BE  REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE  WITH
THE  SECURITIES  ACT AND OTHER APPLICABLE LAWS AND  ONLY  TO  THE
TRANSFEROR OR PURSUANT TO RULE 144A UNDER THE SECURITIES ACT TO A
PERSON THAT THE HOLDER OF SUCH CERTIFICATE REASONABLY BELIEVES IS
A  QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE  144A
("QIB")  PURCHASING FOR ITS OWN ACCOUNT, IN ACCORDANCE WITH  RULE
144A,  WHOM THE HOLDER OF SUCH CERTIFICATE HAS INFORMED THAT  THE
REOFFER,  RESALE,  PLEDGE  OR OTHER TRANSFER  IS  BEING  MADE  IN
RELIANCE  ON  RULE  144A AND AFTER DELIVERY OF THE  DOCUMENTATION
REQUIRED BY THE AGREEMENT AND THE SERIES 1999-1 SUPPLEMENT.  EACH
OWNER  OF  A  CLASS  C CERTIFICATE OR A CLASS  D  CERTIFICATE  BY
ACCEPTING A DIRECT OWNERSHIP INTEREST IN OR A BENEFICIAL INTEREST
IN  A  SUCH CERTIFICATE IS DEEMED TO REPRESENT THAT IT IS  A  QIB
PURCHASING FOR ITS OWN ACCOUNT. THE CLASS C CERTIFICATES AND  THE
CLASS  D  CERTIFICATES WILL NOT BE ACCEPTED FOR  REGISTRATION  OF
TRANSFER EXCEPT UPON PRESENTATION OF EVIDENCE SATISFACTORY TO THE
TRANSFER  AGENT AND REGISTRAR THAT THE RESTRICTIONS  ON  TRANSFER
SET  FORTH IN THE AGREEMENT AND THE SERIES 1999-1 SUPPLEMENT HAVE
BEEN  COMPLIED  WITH. THE CLASS C CERTIFICATES AND  THE  CLASS  D
CERTIFICATES  MAY NOT BE REOFFERED, RESOLD, PLEDGED OR  OTHERWISE
TRANSFERRED  WITHOUT THE PRIOR WRITTEN CONSENT OF THE  TRANSFEROR
AND  UNLESS  AND UNTIL THE TRUSTEE AND THE TRANSFEROR SHALL  HAVE
RECEIVED  THE  CERTIFICATIONS REQUIRED BY THE AGREEMENT  AND  THE
SERIES 1999-1 SUPPLEMENT.

THE  CLASS C CERTIFICATES AND THE CLASS D CERTIFICATES  ARE  ALSO
SUBJECT   TO   RESTRICTIONS  ON  THE  PURCHASE,   OWNERSHIP   AND
DISPOSITION OF SUCH SECURITIES OR ANY INTEREST THEREIN, INCLUDING
THE  CONSENT  OF THE TRANSFEROR AND THE DELIVERY OF  AN  INVESTOR
REPRESENTATION  LETTER. SUCH RESTRICTIONS ARE SET  FORTH  IN  THE
AGREEMENT  AND THE SERIES 1999-1 SUPPLEMENT, COPIES OF WHICH  ARE
AVAILABLE FROM THE TRUSTEE.

                                              EXHIBIT E

                    FORM OF TRANSFER REQUEST

                    REGISTRATION OF TRANSFER
                     Dated __________, ____

ISSUER INFORMATION:

Name:          SRI RECEIVABLES MASTER TRUST

Address:  c/o Bankers Trust Company,
             as Trustee and as Transfer Agent and Registrar
          4 Albany Street
          New York, New York 10006
          Attention: Corporate Trust and Agency Group

REGISTERED OWNER INFORMATION

Name:

Address:

                TRANSFER INSTRUCTION:

     You are hereby instructed to register a transfer of the
following securities in the manner indicated:

     1.   Transferred Interest:

          (a)  Type of Interest: Class [C][D] Floating Rate Asset
               Backed Certificates, Series 1999-1

          (b)  Principal Amount to be Transferred:
               $______________

          (c)  Name of Issuer: SRI RECEIVABLES MASTER TRUST

          (d)  Issuer's jurisdiction of organization: New York

     2.   Transfer Instructions: You are instructed by the
undersigned Registered Owner, to transfer the above described
securities in the principal amount specified above to _______
(the "Transferee") as indicated below, who upon such transfer
shall be the Registered Holder of such interests, with all rights
incident thereto.

     Payment Instructions:

     The Taxpayer Identification Number of the Transferee is:

     You are further instructed promptly to inform the Transferor
of this proposed Registration of Transfer and to request the
Transferor's consent to such Transfer pursuant to Section 12 of
the Series 1999-1 Supplement. All notices and communications to
the Transferee in connection with this Transfer should be sent
to:

     Name:
     Address:

     3.   Warranties: The undersigned hereby warrants that:

          (a)  It is an appropriate entity to originate this
               instruction;

          (b)  It is entitled to effect the instruction hereby
               given, and

          (c)  Its Taxpayer Identification Number is:

     4.     Authentication: In witness of this Instruction to
Register Transfer, the undersigned Registered Owner has executed
this instruction as of the ____ day of __________, ____.

                              By:

                                              EXHIBIT F

              FORM OF INVESTMENT LETTER

Bankers Trust Company
4 Albany Street, 10th Floor
New York, NY 10006
Attention:     Corporate Trust and Agency Group

SRI Receivables Purchase Co., Inc.
10201 Main Street
Houston, TX  77025
Attention:     Treasurer

[Add Insurer address for Class D Certificates]

                        [Date]

          Re:  SRI RECEIVABLES MASTER TRUST, Series 1999-1
               Purchase of Class    Certificates/1

Ladies and Gentlemen:

     This  letter (the "Investment Letter") is delivered  by  the
undersigned  (the  "Purchaser") pursuant  to  the  Series  1999-1
Supplement,  dated  as  of  ______________,  1999  (the   "Series
Supplement"), by and among SRI Receivables Purchase Co., Inc.,  a
corporation organized and existing under the laws of the State of
Delaware,  as Transferor (the "Transferor"), Specialty Retailers,
Inc.,  a  corporation organized and existing under  the  laws  of
Texas,   as   Servicer  (the  "Servicer"),  and   Bankers   Trust
(Delaware),  a  banking corporation organized and existing  under
the  laws of the State of Delaware, as trustee (together with its
successors  in  trust  thereunder as provided  in  the  Agreement
referred  to  below, the "Trustee") under the Second Amended  and
Restated  Pooling and Servicing Agreement dated as of __________,
1999  (the  "Agreement"), among the Transferor, the Servicer  and
the  Trustee.  Capitalized terms used herein  without  definition
shall  have the meanings provided in the Agreement or the  Series
Supplement.

     The  Purchaser hereby represents, warrants and covenants  to
the Transferor as follows:

     The  Purchaser  represents and warrants that it  understands
that  the  Certificates  referenced in  the  caption  above  (the
"Purchased Certificates") [add the following with respect to  the
Class D Certificates only][and the Policy] (i) have not been  and
will  not  be  registered under the Securities Act  of  1933,  as
amended  (the "Securities Act"), or any state or other applicable
securities  law, and (ii) are being offered only in a transaction
not  involving  a  public  offering within  the  meaning  of  the
Securities  Act  and  may  not  be  offered,  sold  or  otherwise
transferred  unless  registered  pursuant  to,  or  exempt   from
registration  under, the Securities Act and any other  applicable
securities law.

     The   Purchaser  represents  and  warrants  that  it  is   a
"qualified  institutional buyer" (as defined in Rule 144A  ("Rule
     144A") under the Securities Act), that it is aware that the offer
and  sale of the Purchased Certificates to it are being  made  in
reliance  on  Rule 144A and that it is purchasing  the  Purchased
Certificates for its own account.

     The  Purchaser  represents, warrants and covenants  that  it
will  not  offer,  sell,  convey,  assign,  hypothecate,  pledge,
participate  or  otherwise  transfer  (each,  a  "Transfer")  the
Purchased Certificates or any interest therein at any time except
(i)  to  the Transferor or (ii) pursuant to Rule 144A to a person
whom   the   Transferor  reasonably  believes  is   a   qualified
institutional  buyer within the meaning of Rule  144A  purchasing
for  its  own  account, in accordance with Rule  144A,  whom  the
Transferor  has  informed  that the Transfer  is  being  made  in
reliance on Rule 144A.

     The Purchaser represents, warrants and covenants that either
(a)  it  is  not  (i)  an employee benefit plan  (as  defined  in
Section  3(3) of the Employee Retirement Income Security  Act  of
1974,  as amended ("ERISA") that is subject to the provisions  of
Title I of ERISA, (ii) a plan or other arrangement (including  an
individual  retirement account or Keogh plan) that is subject  to
Section  4975  of the Internal Revenue Code of 1986,  as  amended
(the  "Code"), or (iii) an entity whose underlying assets include
"plan  assets"  by  reason of any such plan's investment  in  the
entity  and the application of United States Department of  Labor
("DOL")  Regulation Section 2510.3-101 or (b) it is an  insurance
company  acting on behalf of its general account and (i)  on  the
date it acquires the Purchased Certificates, less than 25% of the
assets  of  such general account (as determined by such insurance
company)  constitute "plan assets" for purposes  of  Title  I  of
ERISA  or  Section 4975 of the Code, (ii) if, after  the  initial
acquisition  of the Purchased Certificates, during  any  calendar
quarter  25%  or more of the assets of such general  account  (as
determined  by  such insurance company) constitute "plan  assets"
for  purposes of Title I of ERISA or Section 4975 of the Code and
no  exemption or exception from the prohibited transaction  rules
applies  to  the continued holding of the Purchased  Certificates
under Section 401(c) of ERISA and final regulations thereunder or
an  exemption or regulation issued by the DOL under  ERISA,  then
such  insurance  company will dispose of  all  of  the  Purchased
Certificates then held in its general account by the end  of  the
next following calendar quarter and (iii) on the date it acquires
the  Purchased  Certificates and throughout the  period  that  it
holds  them it meets all the requirements of and is eligible  for
exemptive relief under Part I of PTCE 95-60.

     The  Purchaser  represents, warrants and covenants  that  no
Purchased Certificates or any interest therein may be Transferred
to  any Person unless such Person has executed and delivered  the
Investment  Letter  to the Transferor and  the  Trustee  and  the
Transferor  has  granted  its  prior  written  consent  to   such
Transfer.

     The  Purchaser  certifies, represents and  warrants  to  the
Transferor, the Servicer, and the Trustee [add the following with
respect to the Class D Certificates only] [and the Insurer]  that
it  is  either (A)(i) a citizen or resident of the United States,
(ii)  a  corporation,  partnership or  other  entity  created  or
organized  in  or  under the laws of the  United  States  or  any
political  subdivision thereof which, if such entity  is  a  tax-
exempt  entity,  recognizes that payments  with  respect  to  the
Purchased Certificates may constitute unrelated business  taxable
income  or  (iii) an entity not described in (ii) whose ownership
of  the Purchased Certificates is effectively connected with  its
conduct  of a trade or business within the United States  (within
the meaning of the Code) or (B)(i) an estate, the income of which
is  includible  in gross income for United States Federal  income
tax purposes, regardless of its source, or (ii) a trust if a U.S.
court   is   able  to  exercise  primary  supervision  over   the
administration of the trust and one or more U.S. persons have the
authority to control all substantial decisions of the trust or if
the  trust  has made an election to be treated as a U.S.  person.
The  Purchaser represents, warrants and covenants that  upon  its
purchase  or  the  transfer to it of a Purchased Certificate  and
prior  to  the  date on which the first interest payment  on  the
Purchased  Certificates is due to the Purchaser, it will  provide
to  the  Servicer and the Trustee (i) if the Purchaser is created
or  organized in or under the laws of a jurisdiction outside  the
United  States,  two  duly  completed  copies  of  United  States
Internal  Revenue  Service Form 4224 or new Form  W-8ECI  or  any
successor  applicable or required forms, (ii)  a  duly  completed
copy  of United States Internal Revenue Service Form W-9  or  any
successor  applicable  or required forms, and  (iii)  such  other
forms  and  information  as  may  be  required  to  confirm   the
availability  of  any  applicable exemption  from  United  States
Federal,  state or local withholding taxes. The Purchaser  agrees
to  provide  to  the  Servicer and the  Trustee  like  additional
subsequent duly completed forms satisfactory to the Servicer  and
the  Trustee on or before the date that any such form expires  or
becomes  obsolete, or upon the occurrence of any event  requiring
an  amendment,  resubmission or change in the  most  recent  form
previously  delivered by it, and to provide  such  extensions  or
renewals  as may be reasonably requested by the Servicer  or  the
Trustee.

     The Purchaser certifies, represents and warrants that as  of
the  date  hereof (a) its ownership of the Purchased Certificates
will not result in any withholding obligation with respect to any
payments with respect to the Purchased Certificates with  respect
to  any  Person,  and (b) unless otherwise consented  to  by  the
Transferor,  if the Purchaser is incorporated or organized  under
the  laws of a jurisdiction outside the United States, it has (x)
a  rating  of "BBB" or better from Fitch IBCA, Inc. or "Baa2"  or
better from Moody's Investors Service, Inc. and (y) balance sheet
assets  at  least $100 million of which are effectively connected
with  its  conduct  of a trade or business in the  United  States
within the meaning of the Code.

     The Purchaser represents, warrants and covenants that it has
not  acquired  any  interest in the Purchased  Certificates,  and
shall not Transfer any interest in the Purchased Certificates  or
cause  any  such  interest to be marketed, on or through  (i)  an
"established  securities market" within the  meaning  of  Section
7704(b)(1)  of the Code and any Treasury Regulations  thereunder,
including, without limitation, an over-the-counter-market  or  an
interdealer quotation system that regularly disseminates firm buy
or   sell  quotations  or  (ii)  a  "secondary  market  (or   the
substantial  equivalent thereof)" within the meaning  of  Section
7704(b)  (2) of the Code and any Treasury Regulations thereunder,
including   a   market  wherein  interests   in   the   Purchased
Certificates are regularly quoted by any Person making  a  market
in such interests and a market wherein any Person regularly makes
available  bid or offer quotes with respect to interests  in  the
Purchased  Certificates and stands ready to effect  buy  or  sell
transactions  at  the quoted prices for itself or  on  behalf  of
others.

     The Purchaser represents, warrants and covenants that it  is
not, and will not become, a partnership, an "S corporation" or  a
grantor  trust, in each case, as described in the  Code.  In  the
event  of any breach of the representation, warranty and covenant
of  the Purchaser that such Purchaser shall remain classified  as
other  than  a partnership, an S corporation or a grantor  trust,
such Purchaser shall (i) notify the Transferor promptly upon such
Purchaser's  becoming  aware of such breach,  and  thereupon  the
Purchaser  hereby agrees to use reasonable efforts to  procure  a
replacement  investor not so affected that is acceptable  to  the
Transferor to replace such affected Purchaser, and (ii) take  all
actions necessary to permit a replacement investor to succeed  to
its   rights  and  obligations  under  the  Agreement   and   the
Supplement. The Purchaser hereby acknowledges that the portion of
the  Tax Opinion to the effect that the Trust will not be treated
as  a  publicly  traded partnership taxable as a  corporation  is
dependent in part on the accuracy of the certifications described
above.

     The  Purchaser  represents and warrants that it  understands
that the Purchased Certificates will be uncertificated securities
and  will not be represented by any certificate and will  not  be
held through The Depository Trust Company or any other depositary
or clearing corporation.

     The  Purchaser  hereby notifies the Paying  Agent  that  all
distributions   of  principal  and  interest  on  the   Purchased
Certificates to the Purchaser shall be made by wire  transfer  to
its account specified in Schedule 1, or to such other account  as
it  shall  specify in writing to the Paying Agent  in  accordance
with the Supplement.

                      Very truly yours,

                         (type name of Purchaser above)

                      By:
                         Name:
                         Title:

                      SCHEDULE I

Name of Purchaser:

Principal Amount of Purchased Certificates:

     (i)  All   payments  on  or  in  respect  of  the  Purchased
          Certificates shall be made by wire transfer to:

               Bank:
               ABA #:
               Account #:
               For further credit to Account #:
               Ref:

     (ii) Address for all notices in respect of payment:

     (iii)     Address for all other communications:

     (iv) Taxpayer ID #:

                                                        EXHIBIT G

                     FORM OF RECEIPT LETTER

Specialty Retailers, Inc.
10201 Main Street
Houston, Texas 77025
Attention: Treasurer

CNA Guaranty & Credit
40 Wall Street, 8th Floor
New York, New York 10005
Attention: John P. Verel

Ladies and Gentlemen:

Please refer to the Series 1999-1 Supplement, dated as of November  9,
1999 and amended as of December 8, 1999 (the "Supplement"), among  SRI
Receivables  Purchase  Co., Inc., as Transferor, Specialty  Retailers,
Inc.,  and  Bankers  Trust (Delaware), as Trustee.  Capitalized  terms
used  and  not  otherwise defined herein are used as  defined  in  the
Supplement  or,  if not defined therein, as defined in  the  Agreement
referred to in the Supplement.

This is to confirm that:

(a)  We  received  a  computer file from  the  Servicer  on  the  date
specified  below,  which the Servicer identified  in  its  transmittal
letter  as  containing  computer  readable  copies  of  back-up   data
regarding the Receivables sufficient to enable the recipient  of  such
back-up data to service the Receivables.

          Date of receipt: ____________________

(b)  We have opened the file on our computer system and confirmed that
it was computer readable.

We are holding the file in accordance with the terms of Section 3.4(d)
of the Agreement.

     We  have made no investigation as to the content of the file
and  make no representation as to the compliance thereof with the
requirements  listed in the Agreement.  Bankers Trust  (Delaware)
shall incur no liability in connection with the file referred  to
herein.

                         Very truly yours,

                         BANKERS  TRUST (DELAWARE),  not  in  its
individual capacity but solely as Trustee

                         By:
_____________________________________
                         Name:___________________________________
                         Title:__________________________________
__
_______________________________
1/Insert appropriate Class of CertificateSRI Receivables Master Trust
                      Exhibit B-1A, Page 4
                             Series 1999-1, Issuance Supplement I
                                                     Exhibit 4.21

               SRI RECEIVABLES PURCHASE CO., INC.
                           Transferor

                    SPECIALTY RETAILERS, INC.
                            Servicer

                               and

                    BANKERS TRUST (DELAWARE)
                             Trustee

        on behalf of the Series 1999-1 Certificateholders

                      ISSUANCE SUPPLEMENT I

                  Dated as of November 9, 1999

                               to

                    SERIES 1999-1 SUPPLEMENT

                  Dated as of November 9, 1999

                               to

                   SECOND AMENDED AND RESTATED
                 POOLING AND SERVICING AGREEMENT

                  Dated as of November 1, 1999

      Class A Variable Funding Certificates, Series 1999-1

      Class B Variable Funding Certificates, Series 1999-1

                  SRI RECEIVABLES MASTER TRUST

                       TABLE OF CONTENTS

                                                             Page

SECTION 1.                                            Designation     1
SECTION 2.                                            Definitions     1
SECTION 3.    Delivery and Payment for the VFCs; Form of Delivery     10
SECTION 4.                        Carrying Cost Terms of the VFCs     10
SECTION 5.                         Amortization Terms of the VFCs     12
SECTION 6.                     Variable Funding Terms of the VFCs     17
SECTION 7.                                             [Reserved]     19
SECTION 8.                  Mandatory Partial Amortization Events     19
SECTION 9.  Additional VFC Provisions                                 21
SECTION 10. Ratification of Agreement                                 22
SECTION 11. Counterparts                                              22
SECTION 12. GOVERNING LAW                                             23
SECTION 13. The Trustee                                               23
SECTION 14. Limitation of Liability                                   23
SECTION 15. Instructions in Writing                                   23

                        LIST OF EXHIBITS

EXHIBIT A-1    Form of Class A-1 Certificate
EXHIBIT A-2    Form of Class A-2 Certificate
EXHIBIT A-3    Form of Class B Certificate
EXHIBIT B-1         Class A-1 Interest Calculations
EXHIBIT B-2         Class A-2 Interest Calculations
EXHIBIT B-3         Class B Interest Calculations
EXHIBIT C       Form of Monthly Certificateholders' Statement
EXHIBIT D  Form of Daily Report

     This  ISSUANCE  SUPPLEMENT I dated as of  November  9,  1999
(this  "Issuance Supplement") to SERIES 1999-1 SUPPLEMENT,  dated
as  of  November 9, 1999 (the "Series Supplement"), by and  among
SRI  RECEIVABLES PURCHASE CO., INC., a corporation organized  and
existing  under the laws of the State of Delaware, as  Transferor
(the  "Transferor"),  SPECIALTY RETAILERS,  INC.,  a  corporation
organized and existing under the laws of Texas, as Servicer  (the
"Servicer"), and BANKERS TRUST (DELAWARE), a banking  corporation
organized  and existing under the laws of the State of  Delaware,
as  trustee (together with its successors in trust thereunder  as
provided in the Agreement referred to below, the "Trustee") under
the  Second Amended and Restated Pooling and Servicing  Agreement
dated  as  of November 1, 1999 (as amended or otherwise  modified
from  time  to time, the "Agreement"), among the Transferor,  the
Servicer and the Trustee.

     Section  6.9 of the Agreement provides, among other  things,
that the Transferor and the Trustee may at any time and from time
to  time enter into a supplement to the Agreement for the purpose
of authorizing the issuance by the Trustee to the Transferor, for
execution  and redelivery to the Trustee for authentication,  one
or more Series of Certificates.

     Pursuant  to the Series Supplement, the Transferor  and  the
Trustee  have  created a Series of Investor  Certificates  to  be
issued from time to time pursuant to the Agreement and the Series
Supplement   to   be  known  generally  as  the  "Series   1999-1
Certificates."

     Pursuant to this Issuance Supplement, the Transferor and the
Trustee  will create two classes of Variable Funding Certificates
to  be  included among the Class A Certificates and one class  of
Variable  Funding Certificates to be included among the  Class  B
Certificates,  respectively, making up part of the Series  1999-1
Certificates.

     SECTION  1.   Designation. There are  hereby  created  three
Classes  of  Investor  Certificates, which  shall  be  designated
generally as:

          (a) the Class A-1 Variable Funding Certificates, Series
     1999-1 (the "Class A-1 VFCs"), which shall form part of  the
     Class A Certificates in Series 1999-1;

          (b) the Class A-2 Variable Funding Certificates, Series
     1999-1 (the "Class A-2 VFCs"), which shall form part of  the
     Class A Certificates in Series 1999-1; and

          (c)  the Class B Variable Funding Certificates,  Series
     1999-1  (the "Class B VFCs"), which shall form part  of  the
     Class B Certificates in Series 1999-1.

     SECTION 2.  Definitions.  If any term or provision contained
herein  shall conflict with or be inconsistent with any provision
contained  in the Agreement or the Series Supplement,  the  terms
and  provisions  of  this Issuance Supplement shall  govern  with
respect  to the Class A-1 VFCs, Class A-2 VFCs and Class B  VFCs.
All  Article, Section or subsection references herein shall  mean
Article,  Section or subsections of the Agreement, as amended  or
supplemented  by  the  Series  Supplement,  except  as  otherwise
provided  herein.   All capitalized terms not  otherwise  defined
herein are defined in the Series Supplement or, if not defined in
the  Series Supplement, in the Agreement.  Each capitalized  term
defined herein shall relate only to the Class A-1 VFCs, Class A-2
VFCs  and  Class  B  VFCs  and  no  other  Series  or  Class   of
Certificates issued by the Trust.

          "Additional  Class A Invested Amount"  shall  have  the
     meaning  specified  in  subsection  6(a)  of  this  Issuance
     Supplement.

          "Additional Class A-1 Invested Amount" shall  have  the
     meaning  specified  in  subsection  6(a)  of  this  Issuance
     Supplement.

          "Additional Class A-2 Invested Amount" shall  have  the
     meaning  specified  in  subsection  6(a)  of  this  Issuance
     Supplement.

          "Additional  Class B Invested Amount"  shall  have  the
     meaning  specified  in  subsection  6(a)  of  this  Issuance
     Supplement.

          "Agent"  shall mean any person designated as an "Agent"
     in any Certificate Purchase Agreement.

          "Certificate    Purchase   Agreement"    shall    mean,
     collectively, the Class A-1 Certificate Purchase  Agreement,
     the Class A-2 Certificate Purchase Agreement and the Class B
     Certificate Purchase Agreement.

          "Class  Additional Interest" shall mean: (a) as to  the
     Class A-1 VFCs, the Class A-1 Additional Interest; (b) as to
     the  Class A-2 VFCs, the Class A-2 Additional Interest;  and
     (c) as to the Class B VFCs, the Class B Additional Interest.

          "Class  A  Certificateholder" shall mean  a  Class  A-1
     Certificateholder or a Class A-2 Certificateholder.

          "Class  A Certificate Rate" shall mean for any day  the
     weighted average of the interest rates with respect to  each
     portion of the Class A VFC Principal Balance outstanding  at
     such  time  (taking  into  account whether  such  rates  are
     calculated on a 360 or 365/6 day basis).

          "Class  A  Expected Final Payment Date" shall mean  the
     Class A/B VFC Expected Final Payment Date.

          "Class A Owner" shall mean any Class A-1 Owner and  any
     Class A-2 Owner.

          "Class A Initial Invested Amount" shall mean the sum of
     the  Class  A-1  Initial Invested Amount and the  Class  A-2
     Initial Invested Amount.

          "Class  A  Program  Fee Rate" shall mean  the  weighted
average  annual rate (calculated based on the Class A-1  Purchase
Limit  and  the Class A-2 Purchase Limit) at which the Class  A-1
Program  Fee  (as  defined in the Class A-1 Certificate  Purchase
Agreement)  and  the  Class A-2 Program Fee (as  defined  in  the
Class  A-2 Certificate Purchase Agreement) is calculated pursuant
to the applicable Certificate Purchase Agreement.

          "Class A Purchaser" shall mean a Class A-1 Purchaser or
     a Class A-2 Purchaser.

          "Class A VFCs" shall mean the Class A-1 VFCs and  Class
     A-2 VFCs collectively.

          "Class  A VFC Principal Balance" shall mean, when  used
     with respect to any Business Day, an amount equal to the sum
     of the Class A-1 VFC Principal Balance and the Class A-2 VFC
     Principal Balance.

          "Class  A-1  Carrying Cost Shortfall"  shall  have  the
     meaning  specified  in  subsection  4(a)  of  this  Issuance
     Supplement.

          "Class  A-1 Certificate Purchase Agreement" shall  mean
     the  Class A-1 Certificate Purchase Agreement, dated  as  of
     November 9, 1999, by and among the Transferor, SRI,  one  or
     more  purchasers of Class A-1 VFCs, one or more  Agents  and
     the  Facility Agent, relating to the purchase of  Class  A-1
     VFCs,  as  it  may  be  amended, supplemented  or  otherwise
     modified  from  time to time and including  any  replacement
     agreement therefor.

          "Class    A-1   Certificateholder"   shall    mean    a
     Certificateholder of a Class A-1 VFC.

          "Class A-1 Exiting Purchaser Amortization Amount" shall
     have  the  meaning  specified in the Class  A-1  Certificate
     Purchase Agreement.

          "Class   A-1   Initial  Invested  Amount"  shall   mean
     $28,350,000.

          "Class  A-1 Interest" shall have the meaning  specified
     in subsection 4(a) of this Issuance Supplement.

          "Class  A-1 Invested Amount" shall mean, for  any  day,
     (i)  the  Class  A-1 VFC Principal Balance  minus  (ii)  the
     aggregate Unreimbursed Class A-1 Investor Charge-Offs.

          "Class A-1 Owner" shall mean a Certificateholder  of  a
     Class A-1 VFC or, with respect to any Class A-1 VFC held  by
     an  Agent or any Person as nominee on behalf of a beneficial
     owner of such Class A-1 Certificate, the Person that is  the
     beneficial  owner of the Class A Invested Amount represented
     by  such  Class  A-1 VFC as reflected on the books  of  such
     nominee.

          "Class  A-1  Percentage" shall mean, for any  day,  the
     percentage equivalent of a fraction, the numerator of  which
     equals the Class A-1 VFC Principal Balance on such day,  and
     the  denominator of which equals the sum of (i) the Class  A
     Initial  Invested  Amount, plus (ii) the  initial  principal
     amount  of  any  Additional Class A Invested Amounts  issued
     through  the  end of the preceding Business Day pursuant  to
     Section  6.15  of  the Series Supplement  or  this  Issuance
     Supplement,  minus (iii) the aggregate amount  of  principal
     payments  made  to the Class A Certificateholders  prior  to
     such day.

          "Class  A-1  Purchase  Limit" shall  have  the  meaning
     specified in the Class A-1 Certificate Purchase Agreement.

          "Class  A-1 Purchaser" shall have the meaning specified
     in the Class A-1 Certificate Purchase Agreement.

          "Class A-1 VFC Principal Balance" shall mean, when used
     with respect to any Business Day, an amount equal to (a) the
     Class  A-1  Initial Invested Amount, plus (b) the  aggregate
     principal  amount  of  any  Additional  Class  A-1  Invested
     Amounts purchased by the Class A-1 Owners through the end of
     the  preceding Business Day pursuant to Section  6  of  this
     Issuance  Supplement,  minus (c)  the  aggregate  amount  of
     principal  payments made to Class A-1 VFC  Owners  prior  to
     such Business Day.

          "Class  A-1  VFCs" shall have the meaning specified  in
     Section  1 of this Issuance Supplement. The Class  A-1  VFCs
     shall  be substantially in the form of Exhibit A-1  to  this
     Issuance Supplement.

          "Class  A-2  Carrying Cost Shortfall"  shall  have  the
     meaning  specified  in  subsection  4(a)  of  this  Issuance
     Supplement.

          "Class  A-2 Certificate Purchase Agreement" shall  mean
     the  Class A-2 Certificate Purchase Agreement, dated  as  of
     November 9, 1999, by and among the Transferor, SRI,  one  or
     more  purchasers of Class A-2 VFCs, one or more  Agents  and
     the  Facility Agent, relating to the purchase of  Class  A-2
     VFCs,  as  it  may  be  amended, supplemented  or  otherwise
     modified  from  time to time and including  any  replacement
     agreement therefor.

          "Class    A-2   Certificateholder"   shall    mean    a
     Certificateholder of a Class A-2 VFC.

          "Class A-2 Exiting Purchaser Amortization Amount" shall
     have  the  meaning  specified in the Class  A-2  Certificate
     Purchase Agreement.

          "Class   A-2   Initial  Invested  Amount"  shall   mean
     $150,000,000.

          "Class  A-2 Interest" shall have the meaning  specified
     in subsection 4(a) of this Issuance Supplement.

          "Class  A-2 Invested Amount" shall mean, for  any  day,
     (i) the Class A-2 Principal Balance minus (ii) the aggregate
     Unreimbursed Class A-2 Investor Charge-Offs.

          "Class A-2 Owner" shall mean a Certificateholder  of  a
     Class A-2 VFC or, with respect to any Class A-2 VFC held  by
     an  Agent or any Person as nominee on behalf of a beneficial
     owner of such Class A-2 Certificate, the Person that is  the
     beneficial  owner of the Class A Invested Amount represented
     by  such  Class  A-2 VFC as reflected on the books  of  such
     nominee.

          "Class  A-2  Percentage" shall mean, for any  day,  the
     percentage equivalent of a fraction, the numerator of  which
     equals the Class A-2 VFC Principal Balance on such day,  and
     the  denominator of which equals the sum of (i) the Class  A
     Initial  Invested  Amount, plus (ii) the  initial  principal
     amount  of  any  Additional Class A Invested Amounts  issued
     through  the  end of the preceding Business Day pursuant  to
     Section  6.15  of  the Series Supplement  or  this  Issuance
     Supplement,  minus (iii) the aggregate amount  of  principal
     payments  made  to the Class A Certificateholders  prior  to
     such day.

          "Class  A-2 Purchaser" shall have the meaning specified
     in the Class A-2 Certificate Purchase Agreement.

          "Class   A-2  Purchase  Limit"shall  have  the  meaning
     specified in the Class A-2 Certificate Purchase Agreement.

          "Class A-2 VFC Principal Balance" shall mean, when used
     with respect to any Business Day, an amount equal to (a) the
     Class  A-2  Initial Invested Amount, plus (b) the  aggregate
     principal  amount  of  any  Additional  Class  A-2  Invested
     Amounts purchased by the Class A-2 Owners through the end of
     the  preceding Business Day pursuant to Section  6  of  this
     Issuance  Supplement,  minus (c)  the  aggregate  amount  of
     principal  payments made to Class A-2 VFC  Owners  prior  to
     such Business Day.

          "Class  A-2  VFCs" shall have the meaning specified  in
     Section  1 of this Issuance Supplement. The Class  A-2  VFCs
     shall  be substantially in the form of Exhibit A-2  to  this
     Issuance Supplement.

          "Class  B  Carrying  Cost  Shortfall"  shall  have  the
     meaning  specified  in  subsection  4(a)  of  this  Issuance
     Supplement.

          "Class B Certificate Purchase Agreement" shall mean the
     Class B Certificate Purchase Agreement, dated as of November
     9,  1999,  by  and among the Transferor, SRI,  one  or  more
     purchasers  of  Class  B VFCs, one or more  Agents  and  the
     Facility Agent, relating to the purchase of Class B VFCs, as
     it  may be amended, supplemented or otherwise modified  from
     time   to  time  and  including  any  replacement  agreement
     therefor.

          "Class    B    Certificateholder"    shall    mean    a
     Certificateholder of a Class B VFC.

          "Class  B Certificate Rate" shall mean for any day  the
     weighted average of the interest rates with respect to  each
     portion of the Class B VFC Principal Balance outstanding  at
     such  time  (taking  into  account whether  such  rates  are
     calculated on a 360 or 365/6 day basis).

          "Class  B Exiting Purchaser Amortization Amount"  shall
     have  the  meaning  specified in  the  Class  B  Certificate
     Purchase Agreement.

          "Class  B  Expected Final Payment Date" shall mean  the
     Class A/B VFC Expected Final Payment Date.

          "Class   B   Initial   Invested  Amount"   shall   mean
     $66,500,000.

          "Class B Interest" shall have the meaning specified  in
     subsection 4(b) of this Issuance Supplement.

          "Class  B  Owner" shall mean a Certificateholder  of  a
     Class  B VFC or, with respect to any Class B VFC held by  an
     Agent  or  any  Person as nominee on behalf of a  beneficial
     owner of such Class B VFC, the Person that is the beneficial
     owner  of  the Class B Invested Amount represented  by  such
     Class B VFC as reflected on the books of such nominee.

          "Class  B Program Fee Rate" shall mean the annual  rate
     at which the Class B Program Fee (as defined in the Class  B
     Certificate  Purchase Agreement) is calculated  pursuant  to
     the Class B Purchase Agreement.

          "Class B Purchaser" shall have the meaning specified in
     the Class B Certificate Purchase Agreement.

          "Class   B  Purchase  Limit"  shall  have  the  meaning
     specified in the Class B Certificate Purchase Agreement.

          "Class  B VFC Principal Balance" shall mean, when  used
     with respect to any Business Day, an amount equal to (a) the
     Class  B  Initial  Invested Amount, plus (b)  the  aggregate
     principal amount of any Additional Class B Invested  Amounts
     purchased  by  the Class B Owners through  the  end  of  the
     preceding  Business  Day  pursuant  to  Section  6  of  this
     Issuance  Supplement,  minus (c)  the  aggregate  amount  of
     principal payments made to Class B VFC Owners prior to  such
     Business Day.

          "Class  B  VFCs"  shall have the meaning  specified  in
     Section  1  of  this Issuance Supplement. The Class  B  VFCs
     shall  be substantially in the form of Exhibit A-3  to  this
     Issuance Supplement.

          "Class  Carrying Cost Shortfall"shall mean: (a)  as  to
     the  Class  A-1 VFCs, the Class A-1 Carrying Cost Shortfall;
     (b)  as  to the Class A-2 VFCs, the Class A-2 Carrying  Cost
     Shortfall;  and  (c) as to the Class B  VFCs,  the  Class  B
     Carrying Cost Shortfall.

          "Class  Interest"shall mean: (a) as to  the  Class  A-1
     VFCs,  the Class A-1 Interest; (b) as to the Class A-2 VFCs,
     the  Class A-2 Interest; and (c) as to the Class B VFCs, the
     Class B Interest.

          "Commitment  Termination Date"  shall  mean,  (a)  with
     respect to a Class A-1 Purchaser, the date specified as such
     in  the Class A-1 Certificate Purchase Agreement, subject to
     extension  as  provided  therein,  (b)  with  respect  to  a
     Class  A-2  Purchaser, the date specified  as  such  in  the
     Class   A-2  Certificate  Purchase  Agreement,  subject   to
     extension  as  provided therein, and (c) with respect  to  a
     Class B Purchaser, the date specified as such in the Class B
     Certificate  Purchase  Agreement, subject  to  extension  as
     provided therein.

          "Daily Report" shall mean a report substantially in the
     form  of Exhibit D to this Issuance Supplement delivered  by
     the Servicer to the Trustee, each Agent and the Facility  on
     each Business Day.

          "Exiting  Class A-1 Purchaser" shall have  the  meaning
     specified in the Class A-1 Certificate Purchase Agreement.

          "Exiting  Class A-2 Purchaser" shall have  the  meaning
     specified in the Class A-2 Certificate Purchase Agreement.

          "Exiting  Class  B  Purchaser"shall  have  the  meaning
     specified in the Class B Certificate Purchase Agreement.

          "Exiting  Purchaser" shall mean an  Exiting  Class  A-1
     Purchaser,  an  Exiting Class A-2 Purchaser  or  an  Exiting
     Class B Purchaser.

          "Exiting  Purchaser  Amortization Amount"  shall  mean:
     (a)  for  an  Exiting  Class  A-1  Purchaser,  such  Exiting
     Purchaser's Class A-1 Exiting Purchaser Amortization Amount,
     (b)  for  an  Exiting  Class  A-2  Purchaser,  such  Exiting
     Purchaser's Class A-2 Exiting Purchaser Amortization Amount,
     and  (c)  for  an  Exiting Class B Purchaser,  such  Exiting
     Purchaser's Class B Exiting Purchaser Amortization Amount.

          "Exiting Purchasers' Allocation Percentage" shall mean,
     with  respect to each Exiting Purchaser on any Business Day,
     a  percentage designated by the Transferor which  shall  (a)
     not  be  less than the percentage equivalent of a  fraction,
     the numerator of which is the Exiting Purchaser Amortization
     Amount  for  such Exiting Purchaser and the  denominator  of
     which  is the greater of (i) the sum of the aggregate amount
     of  Principal  Receivables in the Trust and  the  amount  on
     deposit  in  the  Equalization Account at the  end  of  such
     Exiting Purchaser's Commitment Termination Date and (ii) the
     sum  of  the  numerators  used to calculate  the  allocation
     percentages  with respect to Principal Collections  for  all
     Classes of all Series on such Business Day, and (b)  not  be
     greater than 100%.

          "Facility Agent" shall mean the agent from time to time
     serving as the Facility Agent under the Certificate Purchase
     Agreements.

          "Fixed  Allocation  Percentage"  shall  mean,  for  any
     Business  Day in the Mandatory Partial Amortization  Period,
     the  percentage equivalent of a fraction, the  numerator  of
     which  is  the  Invested Amount at the end of the  last  day
     prior to the beginning of the Mandatory Partial Amortization
     Period  and  the  denominator of which  is  the  greater  of
     (a) the sum of the aggregate amount of Principal Receivables
     in  the  Trust and the amount on deposit in the Equalization
     Account  at  the end of the last Business Day preceding  the
     commencement  of such Mandatory Partial Amortization  Period
     and  (b)  the  sum of the numerators used to  calculate  the
     allocation percentages with respect to Principal Collections
     for  all Classes of all Series on the Business Day for which
     the Fixed Allocation Percentage is being determined.

          "Junior  Facilities Costs" shall mean  the  portion  of
     Total Facilities Costs described as such in subsection  4(c)
     of this Issuance Supplement.

          "Late Payment  Rate" shall mean (a) with respect to the
     Class A-1 Certificates, the Risk Rate, as defined in Exhibit
     B-1  hereto, (b) with respect to the Class A-2 Certificates,
     the  Risk  Rate, as defined in Exhibit B-2 hereto,  and  (c)
     with respect to the Class B Certificates, the Risk Rate,  as
     defined in Exhibit B-3 hereto.

          "Mandatory Partial Amortization Event" shall  have  the
     meaning specified in Section 8 of this Issuance Supplement.

          "Mandatory Partial Amortization Period" shall mean  the
     period  commencing on the date on which a Mandatory  Partial
     Amortization  Event is deemed to occur  and  ending  on  the
     earlier to occur of (i) the commencement of the Amortization
     Period pursuant to the Series Supplement or (ii) the day  on
     which  the Class A Invested Amount and the Class B  Invested
     Amount allocable to the VFCs have been paid in full.

          "Mezzanine Facilities Costs" shall mean the portion  of
     Total Facilities Costs described as such in subsection  4(c)
     of this Issuance Supplement.

          "New Issuance" shall mean (i) the issuance by the Trust
     of  any  newly  issued Series of Investor Certificates  (or,
     with respect to a prefunded Series, interests therein) other
     than  Series  1999-1,  the proceeds of  which  newly  issued
     Series  or  such  new class will be applied  to  reduce  the
     Class  A Invested Amount or the Class B Invested Amount,  or
     (ii)  the  specification of the terms of any  new  class  or
     subclass  of  Series  1999-1 Certificates  pursuant  to  any
     amendment or modification to this Issuance Supplement (other
     than  an  increase  in the Class A Invested  Amount  or  the
     Class  B  Invested  Amount pursuant to  Section  6  of  this
     Issuance  Supplement and the applicable Certificate Purchase
     Agreement)  or  any  additional Issuance Supplement  entered
     into pursuant to the Series Supplement.

          "Parity Class" shall mean, with respect to the Class  A
     Certificates  or  the  Class  B  Certificates,  a  class  or
     subclass of Series 1999-1 Certificates which are on a parity
     with  the  Class A Certificates or the Class B Certificates,
     as  the  case may be, as to allocations of Available  Series
     1999-1  Finance  Charge Collections, Excess  Finance  Charge
     Collections,  Series Transferor Finance Charge  Collections,
     Reallocated  Principal  Collections or  Available  Principal
     Collections.

          "Partial  Amortization Amount"  shall mean, as  of  any
     date,  the  sum  of  the unpaid Class A-1 Exiting  Purchaser
     Amortization Amount, the unpaid Class A-2 Exiting  Purchaser
     Amortization Amount and the unpaid Class B Exiting Purchaser
     Amortization Amount.

          "Partial  Amortization  Adjustment  Amount"   has   the
     meaning  specified  in  subsection  5(c)  of  this  Issuance
     Supplement.

          "Principal Distribution Date"  shall mean each Business
     Day  during  the  Revolving Period on which  the  Transferor
     elects, upon not less than two Business Days' notice to each
     Agent  and  the  Facility Agent, to repay principal  on  the
     Class  A-1  VFCs, Class A-2 VFCs or Class B  VFCs;  provided
     that  there  may not be more than two days in  any  calendar
     week  in  which  there is a change in the Class  A  Invested
     Amount  or the Class B Invested Amount unless each  affected
     Class  A  Purchaser, Class A Owner, Class  B  Purchaser  and
     Class B Owner otherwise consents; and provided further  that
     if   the  Partial  Amortization  Amount  exceeds  zero,  the
     Transferor  shall elect to designate at least  one  Business
     Day  in each calendar week as a Principal Distribution  Date
     if  there  are  funds  on deposit in the  Principal  Funding
     Account  on  such  Business Day in an  amount  equal  to  or
     greater than $1,000,000 in respect of the VFCs, or, if less,
     in an amount equal to the Partial Amortization Amount.

          "Purchase  Date" shall mean any Business Day  on  which
     the  purchase of an Additional Invested Amount is  to  occur
     pursuant to Section 6 of this Issuance Supplement.

          "Senior   Facilities  Costs"  shall  have  the  meaning
     specified  in  the Series Supplement and shall also  include
     the  portion of Total Facilities Costs described as such  in
     subsection 4(c) of this Issuance Supplement.

          "Total   Facilities  Costs"  shall  have  the   meaning
     specified in subsection 4(c) of this Issuance Supplement.

          "Unreimbursed  Class A-1 Charge-Offs" shall  mean,  for
     any  day, the excess, if any, of (i) the sum for each of the
     prior  Business  Days  of the Class A-1  Percentage  of  the
     amount of Class A Investor Charge-Offs on such Business Day,
     over (ii) the sum for each of the prior Business Days of the
     Class A-1 Percentage of the aggregate amount allocated  with
     respect  to  Class A Investor Charge-Offs and  available  on
     such  Business Day pursuant to subsection 4.8(a)(v)  of  the
     Series Supplement, for the purpose of reinstating reductions
     of the Class A Invested Amount pursuant to clause (e) of the
     definition  of  the term "Class A Invested  Amount"  in  the
     Series Supplement.

          "Unreimbursed  Class A-2 Charge-Offs" shall  mean,  for
     any  day, the excess, if any, of (i) the sum for each of the
     prior  Business  Days  of the Class A-2  Percentage  of  the
     amount of Class A Investor Charge-Offs on such Business Day,
     over (ii) the sum for each of the prior Business Days of the
     Class A-2 Percentage of the aggregate amount allocated  with
     respect  to  Class A Investor Charge-Offs and  available  on
     such  Business Day pursuant to subsection 4.8(a)(v)  of  the
     Series Supplement, for the purpose of reinstating reductions
     of the Class A Invested Amount pursuant to clause (e) of the
     definition  of  the term "Class A Invested  Amount"  in  the
     Series Supplement.

          "Unreimbursed Class B Charge-Offs" shall mean, for  any
     day,  the  excess, if any, of (i) the sum for  each  of  the
     prior Business Days of the amount of Class B Investor Charge-
     Offs on such Business Day, over (ii) the sum for each of the
     prior  Business Days of the aggregate amount allocated  with
     respect  to  Class B Investor Charge-Offs and  available  on
     such Business Day pursuant to subsection 4.8(a)(vii) of  the
     Series Supplement, for the purpose of reinstating reductions
     of the Class B Invested Amount pursuant to clause (e) of the
     definition  of  the term "Class B Invested  Amount"  in  the
     Series Supplement.

          "VFC Additional Invested Amount" shall have the meaning
     specified in subsection 6(a) of this Issuance Supplement.

          "VFC  Certificateholder" shall mean a Certificateholder
     of VFCs.

          "VFCs"  shall mean the Class A-1 VFCs, Class  A-2  VFCs
     and the Class B VFCs, collectively.

     SECTION  3.     Delivery and Payment for the VFCs;  Form  of
Delivery.   (a)   The Transferor shall execute  and  deliver  the
Class  A-1  VFCs,  Class A-2 VFCs and the Class  B  VFCs  to  the
Trustee for authentication in accordance with Section 6.1 of  the
Agreement.  The Trustee shall deliver the Class A-1  VFCs,  Class
A-2  VFCs  and  the  Class B VFCs to or upon  the  order  of  the
Transferor when authenticated in accordance with Section  6.2  of
the Agreement.

          (b)  The Class A-1 VFCs, Class A-2 VFCs and the Class B
VFCs shall be delivered as Registered Certificates as provided in
Section  6.1 of the Agreement and not as Book-Entry Certificates.
The VFCs shall not be subject to any minimum denominations.

     SECTION  4.      Carrying Cost Terms of the  VFCs.  (a)  The
amount of monthly interest (the "Class A-1 Interest") payable  on
the  Class A-1 VFCs on each Distribution Date shall be calculated
as  provided on Exhibit B-1.  The amount of monthly interest (the
"Class  A-2  Interest") payable on the Class  A-2  VFCs  on  each
Distribution Date shall be calculated as provided on Exhibit B-2.

     On  the Determination Date preceding each Distribution Date,
the  Servicer shall determine, separately for the Class A-1  VFCs
and  the Class A-2 VFCs, an amount (the "Class A-1 Carrying  Cost
Shortfall" and "Class A-2 Carrying Cost Shortfall," respectively)
equal  to  the  excess,  if  any, of (x)  the  applicable  Senior
Facilities  Costs for the Distribution Date, over (y) the  amount
available to be paid to the applicable Class A Certificateholders
in  respect  of such Senior Facilities Costs on such Distribution
Date.  If  there is a Class A-1 Carrying Cost Shortfall or  Class
A-2  Carrying  Cost  Shortfall with respect to  any  Distribution
Date,  an additional amount ("Class A-1 Additional Interest"  and
"Class  A-2 Additional Interest," respectively) shall be  payable
as provided herein with respect to the applicable Class A VFCs on
each  Distribution Date following such Distribution Date, to  and
including the Distribution Date on which such Class A-1  Carrying
Cost  Shortfall or Class A-2 Carrying Cost Shortfall is  paid  to
the  applicable  Class A Certificateholders in  full.  Class  A-1
Additional  Interest  and  Class A-2  Additional  Interest  shall
accrue on the balance of the Class A-1 Carrying Cost Shortfall or
Class  A-2 Carrying Cost Shortfall at the applicable Late Payment
Rate during the related Interest Accrual Period, on the basis  of
the number of days in that Interest Accrual Period and a year  of
365/6  days.   Notwithstanding anything to the  contrary  herein,
Class  A-1 Additional Interest and Class A-2 Additional  Interest
shall  be  payable  or  distributed to  the  applicable  Class  A
Certificateholders  only  to the extent permitted  by  applicable
law.

     (b)  The amount of monthly interest (the "Class B Interest")
payable  on the Class B VFCs on each Distribution Date  shall  be
calculated as provided on Exhibit B-3.

     On  the Determination Date preceding each Distribution Date,
the  Servicer shall determine for the Class B VFCs an amount (the
"Class  B Carrying Cost Shortfall") equal to the excess, if  any,
of   (x)   the  applicable  Senior  Facilities  Costs  for   such
Distribution Date, over (y) the amount available to  be  paid  to
the   Class  B  Certificateholders  in  respect  of  such  Senior
Facilities Costs on such Distribution Date.  If there is a  Class
B  Carrying Cost Shortfall with respect to any Distribution Date,
an  additional  amount ("Class B Additional Interest")  shall  be
payable  as provided herein with respect to the Class B  VFCs  on
each  Distribution Date following such Distribution Date, to  and
including  the Distribution Date on which such Class  B  Carrying
Cost Shortfall is paid to the Class B Certificateholders in full.
Class  B Additional Interest shall accrue on the balance  of  the
Class  B  Carrying Cost Shortfall at the applicable Late  Payment
Rate during the related Interest Accrual Period, on the basis  of
the  number  of days in that Accrual Period and a year  of  365/6
days.  Notwithstanding anything to the contrary herein,  Class  B
Additional  Interest shall be payable or distributed to  Class  B
Certificateholders  only  to the extent permitted  by  applicable
law.

     (c)   "Total  Class Facilities Costs" for each  Distribution
Date  shall  equal  (i) for the Class A-1  VFCs,  the  Class  A-1
Interest   and  any  Class  A-1  Additional  Interest  for   such
Distribution Date, plus the aggregate amount of Class A-1 Program
Fees  and  Class  A-1 Utilization Fees (each as  defined  in  the
Class A-1 Certificate Purchase Agreement) due and payable on such
Distribution Date pursuant to the Class A-1 Certificate  Purchase
Agreement,  plus  all  other amounts  due  and  payable  on  such
Distribution   Date  by  the  Transferor  (individually   or   as
Transferor)  to any Class A-1 Purchaser or Agent or the  Facility
Agent  pursuant  to the Class A-1 Certificate Purchase  Agreement
(including without limitation pursuant to Section 2.3,  2.4,  2.5
or 2.6 thereof), each determined without regard to the provisions
of  subsection  9.11(a)  of  the Class A-1  Certificate  Purchase
Agreement,  (ii) for the Class A-2 VFCs, the Class  A-2  Interest
and any Class A-2 Additional Interest for such Distribution Date,
plus the aggregate amount of Class A-2 Program Fees and Class A-2
Utilization  Fees (each as defined in the Class  A-2  Certificate
Purchase  Agreement)  due and payable on such  Distribution  Date
pursuant  to  the Class A-2 Certificate Purchase Agreement,  plus
all  other amounts due and payable on such Distribution  Date  by
the  Transferor (individually or as Transferor) to any Class  A-2
Purchaser  or  Agent  or  the  Facility  Agent  pursuant  to  the
Class  A-2  Certificate  Purchase  Agreement  (including  without
limitation  pursuant to Section 2.3, 2.4, 2.5  or  2.6  thereof),
each  determined without regard to the provisions  of  subsection
9.11(a)  of  the  Class A-2 Certificate Purchase  Agreement,  and
(iii) for the Class B VFCs, the Class B Interest and any Class  B
Additional  Interest  for  such  Distribution  Date,   plus   the
aggregate  amount of Class B Program Fees and Class B Utilization
Fees  (each  as  defined  in  the Class  B  Certificate  Purchase
Agreement) due and payable on such Distribution Date pursuant  to
the  Class  B  Certificate  Purchase Agreement,  plus  all  other
amounts  due  and  payable  on  such  Distribution  Date  by  the
Transferor  (individually  or  as  Transferor)  to  any  Class  B
Purchaser or Agent or the Facility Agent pursuant to the Class  B
Certificate  Purchase  Agreement  (including  without  limitation
pursuant  to  Section  2.3,  2.4,  2.5  or  2.6  thereof),   each
determined without regard to the provisions of subsection 9.11(a)
of  the Class B Certificate Purchase Agreement, as determined  by
the   applicable   Agents  in  accordance  with  the   respective
Certificate    Purchase   Agreements    and,    if    applicable,
subsection 4(a) of this Issuance Supplement.

     For   purposes  of  determining  Senior  Facilities   Costs,
Mezzanine Facilities Costs and Junior Facilities Costs as to each
Class:

          (i)    the   Total  Class  Facilities  Costs  for   any
     Distribution  Date shall constitute Senior Facilities  Costs
     for such Class to the extent that the Total Class Facilities
     Costs  do  not  exceed the product of (A) the daily  average
     Class  A-1  Invested  Amount, Class A-2 Invested  Amount  or
     Class  B  Invested Amount (as applicable) for such  Interest
     Accrual  Period, (B) Adjusted LIBOR plus 2.25% and  (C)  the
     number  of  days in such Interest Accrual Period divided  by
     360;

          (ii)                               any   excess   Total
                                             Class     Facilities
                                             Costs    for     any
                                             Distribution    Date
                                             shall     constitute
                                             Mezzanine Facilities
                                             Costs for such Class
                                             to  the extent  that
                                             the  excess does not
                                             exceed  the  product
                                             of   (A)  the  daily
                                             average  Class   A-1
                                             Invested     Amount,
                                             Class  A-2  Invested
                                             Amount  or  Class  B
                                             Invested Amount  (as
                                             applicable) for such
                                             Interest     Accrual
                                             Period,  (B)   0.75%
                                             and  (C) the  number
                                             of   days  in   such
                                             Interest     Accrual
                                             Period  divided   by
                                             360; and

          (iii)      any  remaining excess Total Class Facilities
     Costs  for  any  Distribution Date shall  constitute  Junior
     Facilities Costs for such Class.

     (d)   The  Interest  Accrual Period for the  VFCs  for  each
Distribution  Date  shall be the period from  and  including  the
preceding  Distribution Date to and excluding  such  Distribution
Date; provided, however, that the initial Interest Accrual Period
will run from the Series 1999-1 Closing Date to and excluding the
initial Distribution Date.

     SECTION  5.      Amortization Terms of the VFCs.   Principal
payments  shall be made on the VFCs:  (i) during the Amortization
Period, if any VFCs then remain outstanding, as specified in  the
Series Supplement as supplemented by subsection 5(a) below;  (ii)
during  the portions of the Revolving Period which do not include
any  Mandatory  Partial  Amortization Period  and  on  which  the
Partial  Amortization Amount is zero, to the extent specified  in
subsection 5(b) below; (iii) during the portions of the Revolving
Period  which  do not include any Mandatory Partial  Amortization
Period and on which the Partial Amortization Amount exceeds zero,
to the extent specified in subsection 5(c) below; and (iv) during
any  Mandatory  Partial  Amortization  Period,  as  specified  in
subsection 5(d) below.

     (a)  Subject to the terms of any future Issuance Supplement,
the Amortization Period shall commence on the date determined  in
accordance   with    the   definition  of  "Amortization   Period
Commencement Date" in the Series Supplement, without reference to
clause (ii) of that definition. However, nothing contained herein
shall  be  deemed  to constitute a commitment by  any  Class  A-1
Purchaser, Class A-2 Purchaser or Class B Purchaser to extend its
Commitment Expiration Date.  Neither the Class A-1 VFCs  nor  the
Class A-2 VFCs are subject to an Accumulation Period. Clause  (a)
of   the   definition  of   "Monthly  Principal"  in  the  Series
Supplement shall not apply to the VFCs.

     (b)    (i)   No later than 12:00 noon on the second Business
     Day  immediately  prior to each Principal Distribution  Date
     during  the  Revolving Period, the Transferor shall  provide
     written  notice to the Trustee, each Agent and the  Facility
     Agent  of such Principal Distribution Date and of the amount
     of  principal  to  be repaid on such Principal  Distribution
     Date.

          (ii)   On  the  Business Day preceding  each  Principal
     Distribution Date during the Revolving Period, if the  funds
     deposited    in   the   Principal   Account   pursuant    to
     subsection  4.8(e)  of the Series Supplement  and  available
     therein  as  of such Business Day equal or exceed $1,000,000
     (or   such  lesser  amount  as  may  be  designated  by  the
     Transferor,  as set forth by the Servicer on its  behalf  in
     the Daily Report for such Business Day, and consented to  by
     the  Facility Agent, the Class A-1 Purchasers, the Class A-2
     Purchasers  and  the Class B Purchasers),  the  Trustee,  in
     accordance with the instructions from the Servicer set forth
     in  the  Daily Report for such day, shall withdraw from  the
     Principal  Account  and deposit in the Distribution  Account
     the  largest multiple of $250,000 that is available (or such
     other   available  amount  as  may  be  designated  by   the
     Transferor,  as set forth by the Servicer on its  behalf  in
     such  Daily Report, and consented to by the Facility  Agent,
     the  Class A-1 Purchasers, the Class A-2 Purchasers and  the
     Class  B  Purchasers).  Notwithstanding  the  provisions  of
     Section  5.1  of  the Series Supplement, on  each  Principal
     Distribution Date with respect to the Revolving Period,  the
     Paying  Agent  shall  pay the amount  so  deposited  in  the
     Distribution  Account  to  the  VFC  Certificateholders,  in
     accordance with the instructions of the Transferor,  as  set
     forth by the Servicer on its behalf in the Daily Report  for
     such Business Day, which instructions satisfy one or more of
     the following provisions:

           (A)the  Transferor  may apply all such  funds  to  the
          reduction of the Class A VFC Principal Balance; or

           (B)the  Transferor  may apply all such  funds  to  the
          reduction of the Class A VFC Principal Balance and  the
          Class B VFC Principal Balance in such proportions as it
          selects  if,  after  giving  effect  to  the  principal
          payments  to  be  made  on such Principal  Distribution
          Date,   (1)  no Series 1999-1 Pay Out Event, Trust  Pay
          Out  Event or Mandatory Partial Amortization Event  has
          occurred  and  is  continuing, and (2) the  Enhancement
          Percentage  for the Class A Certificates shall  be  not
          less than 38%.

     So  long  as no Series 1999-1 Pay Out Event, Trust  Pay  Out
     Event  or  Mandatory Partial Amortization Event has occurred
     and  is continuing, funds to be applied to the reduction  of
     the  Class  A VFC Principal Balance pursuant to this  clause
     (ii) shall be applied first to the reduction of the Class  A
     -1  VFC Principal Balance, until the Class A-1 VFC Principal
     Balance  equals  zero,  and then to  the  reduction  of  the
     Class  A-2 VFC Principal Balance, unless each Class A  Owner
     otherwise consents.

          (iii)   On  any Business Day, the Transferor may  cause
     the  proceeds  of  a  New Issuance to be  deposited  in  the
     Distribution  Account, in an amount  equal  to  the  largest
     multiple  of  $250,000  that is  available  (or  such  other
     available amount as may be designated by the Transferor,  as
     set  forth  by  the  Servicer on its behalf  in  such  Daily
     Report,  and  consented  to  by  the  Facility  Agent,   the
     Class  A-1  Purchasers,  the Class A-2  Purchasers  and  the
     Class  B  Purchasers).  Notwithstanding  the  provisions  of
     Section  5.1 of the Series Supplement, on the next following
     Principal  Distribution Date with respect to  the  Revolving
     Period,  the Paying Agent shall pay the amount so  deposited
     in  the  Distribution Account to the VFC Certificateholders,
     in  accordance  with the instructions of the Transferor,  as
     set  forth by the Servicer on its behalf in the Daily Report
     for  such  Business Day, which instructions satisfy  one  or
     more of the following provisions:

           (A)if  and to the extent such proceeds are from a  New
          Issuance which is a Parity Class with the Class A  VFC,
          the  Transferor  shall  apply all  such  funds  to  the
          reduction of the Class A VFC Principal Balance;

           (B)if  and to the extent such proceeds are from a  New
          Issuance which is a Parity Class with the Class B  VFC,
          the  Transferor  shall  apply all  such  funds  to  the
          reduction of the Class B VFC Principal Balance; or

           (C)otherwise

           (1)the  Transferor  may apply all such  funds  to  the
               reduction of the Class A VFC Principal Balance; or

           (2)the  Transferor  may apply all such  funds  to  the
               reduction of the Class A VFC Principal Balance and
               the   Class  B  VFC  Principal  Balance  in   such
               proportions as it selects if, after giving  effect
               to  the  principal payments to  be  made  on  such
               Principal Distribution Date,  (x) no Series 1999-1
               Pay  Out  Event, Trust Pay Out Event or  Mandatory
               Partial  Amortization Event has  occurred  and  is
               continuing, and (y) the Enhancement Percentage for
               the  Class  A Certificates shall be not less  than
               38%.

     So  long  as no Series 1999-1 Pay Out Event, Trust  Pay  Out
     Event  or  Mandatory Partial Amortization Event has occurred
     and  is continuing, funds to be applied to the reduction  of
     the  Class  A VFC Principal Balance pursuant to this  clause
     (iii) shall be applied first to the reduction of the Class A
     -2  VFC Principal Balance, until the Class A-2 VFC Principal
     Balance  equals  zero,  and then to  the  reduction  of  the
     Class  A-1 VFC Principal Balance, unless each Class A  Owner
     otherwise consents.

     (c)  Notwithstanding the provisions of subsection 4.8(b)  of
the  Series  Supplement  and subsection  5(b)  of  this  Issuance
Supplement,  if  on any Business Day during any  portion  of  the
Revolving  Period  which is not a Mandatory Partial  Amortization
Period,  the aggregate Partial Amortization Amount exceeds  zero,
until  sufficient funds are deposited into the Principal  Account
collectively to reduce the aggregate Partial Amortization  Amount
plus  any Partial Amortization Adjustment Amount to zero  on  the
related  Distribution Date, funds on deposit  in  the  Collection
Account to the extent of the product of (i) the aggregate Exiting
Purchasers'  Allocation  Percentage  and  (ii)  the   amount   of
Principal  Collections available in the Collection  Account  with
respect  to  such Business Day shall (x) first be deposited  into
the  Principal Account until the amount so deposited  equals  the
aggregate  Partial Amortization Amount plus any  related  Partial
Amortization Adjustment Amount, and (y) thereafter be applied  as
provided   in   subsection  4.8(b)  of  the  Series   Supplement.
Notwithstanding  the  provisions of Section  5.1  of  the  Series
Supplement,  on  each  Distribution Date  on  which  the  Partial
Amortization Amount exceeds zero (and on such other Business Days
as the Transferor may elect with two Business Days' prior written
notice  to  each Agent and the Facility Agent; provided  that  no
more  than two changes in the Class A Invested Amount or Class  B
Invested  Amount would occur in any calendar week as a result  of
such  election), the Trustee, in accordance with the instructions
from  the  Servicer set forth in the Daily Report for  such  day,
shall  withdraw funds deposited in the Principal Account pursuant
to  this  subsection  (c)  and pay  to  (i)  (A)  the  applicable
Class  A-1 Certificateholder, in the case of Partial Amortization
Amounts  relating  to  Exiting  Class  A-1  Purchasers,  (B)  the
applicable  Class A-2 Certificateholder, in the case  of  Partial
Amortization Amounts relating to Exiting Class A-2 Purchasers, or
(C)  the  applicable Class B Certificateholder, in  the  case  of
Partial   Amortization  Amounts  relating  to  Exiting  Class   B
Purchasers,  in each case for allocation in accordance  with  the
applicable Certificate Purchase Agreement, to the extent  of  the
amounts  so  deposited,  other than in  respect  of  the  Partial
Amortization Adjustment Amount, and available therein as of  such
Business Day, and (ii) to the Class A VFC Certificateholders,  to
the  extent  of  funds  so deposited in respect  of  the  Partial
Amortization Adjustment Amount and available therein as  of  such
Business Day; provided that, after giving effect to such payment,
the Enhancement Percentage for Class A will remain at least equal
to   38%; and provided further that no such payment shall be made
unless  the  amount  thereof exceeds  $1,000,000  and  is  in  an
integral   multiple  of  $250,000  (or  such  amount  less   than
$1,000,000  as  shall  equal the sum of the Partial  Amortization
Amount  and  the Partial Amortization Adjustment Amount  on  such
Business  Day),  or  such  other  available  amount  as  may   be
designated by the Transferor, as set forth by the Servicer on its
behalf  in the applicable Daily Report, and consented to  by  the
Facility   Agent,  the  Class  A-1  Purchasers,  the  Class   A-2
Purchasers and the Class B Purchasers.  Funds to be so applied in
respect  of  any Partial Amortization Adjustment  Amount  to  the
reduction  of the Class A VFC Principal Balance shall be  applied
first  to  the reduction of the Class A-1 VFC Principal  Balance,
until  the Class A-1 VFC Principal Balance equals zero, and  then
to  the  reduction of the Class A-2 VFC Principal Balance, unless
each Class A Owner otherwise consents.   If any Exiting Purchaser
is  a  Class  B  Purchaser, the "Partial Amortization  Adjustment
Amount"  shall  equal the amount, if any, by which  the  Class  A
Invested  Amount must be reduced (taking into account a reduction
of  the  Class  B  Invested Amount by such  Class  B  Purchaser's
Exiting  Purchaser Amortization Amount and any concurrent changes
in  the  Class A Invested amount, the Class B Invested Amount  or
the  Invested  Amount  of  any more junior  Class)  so  that  the
Enhancement Percentage for Class A will not be less than 38%.

     (d)   If  a  Mandatory Partial Amortization Period commences
during  the Revolving Period, then notwithstanding the provisions
of    subsection   4.8(b)   of   the   Series   Supplement    and
subsections  5(b) and 5(c) of this Issuance Supplement,  on  each
Business  Day  during  the Mandatory Partial Amortization  Period
until  sufficient funds are deposited into the Principal  Account
collectively to reduce the portion of the Class A Invested Amount
and the Class B Invested Amount allocable to the VFCs to zero  on
the related Distribution Date, funds on deposit in the Collection
Account  to the extent of the product of (i) the Fixed Allocation
Percentage and (ii) the amount of Principal Collections available
in the Collection Account with respect to such Business Day shall
(x)  first  be  deposited into the Principal  Account  until  the
amount so deposited equals the sum of the portion of the Class  A
Invested Amount allocable to the Class A VFCs and the portion  of
the Class B Invested Amount allocable to the Class B VFCs and (y)
thereafter  be  applied as provided in subsection 4.8(b)  of  the
Series  Supplement.   For purposes of subsection  4.3(e)  of  the
Agreement,  on  each  Business Day  during  a  Mandatory  Partial
Amortization  Period,  the sum of the  portion  of  the  Class  A
Invested Amount allocable to the Class A VFCs and the portion  of
the  Class B Invested Amount allocable to the Class B VFCs, minus
the  funds on deposit in the Principal Account that are available
to  cover the such portions of the Invested Amount on the related
Distribution  Date, shall constitute a Principal  Shortfall  with
respect   to   the  Series  1999-1  Investor  Certificates   and,
notwithstanding the provisions of subsection 4.8(e) of the Series
Supplement, Shared Principal Collections allocated to the  Series
1999-1   Investor  Certificates  shall  be  deposited  into   the
Principal Account and applied as provided in this paragraph until
the  amount  on deposit therein equals the sum of the portion  of
the Class A Invested Amount allocable to the Class A VFCs and the
portion  of the Class B Invested Amount allocable to the Class  B
VFCs.   Amounts  deposited in the Principal Account  pursuant  to
this paragraph shall be applied on each Distribution Date to make
payments of principal to the Class A Certificateholders (pro rata
based  on the respective portions of the Class A Invested  Amount
held  by  each) until the portion of the Class A Invested  Amount
allocable to the Class A VFCs has been reduced to zero  and  then
to  make  payments of principal to the Class B Certificateholders
(pro  rata  based  on  the respective portions  of  the  Class  B
Invested  Amount held by each) until the portion of the  Class  B
Invested Amount allocable to the Class B VFCs has been reduced to
zero.

     (e)  The following date is hereby specified for purposes  of
clause  (a)  of  the  definition of "Class  B  Principal  Payment
Commencement  Date"  in the Series Supplement:  the  Distribution
Date on which the Class A Invested Amount is paid in full or,  if
there are no Principal Collections allocable to the Series 1999-1
Investor Certificates remaining after payments have been made  to
the   Class  A  Certificates  on  such  Distribution  Date,   the
Distribution  Date following the Distribution Date on  which  the
Class A Invested Amount is paid in full.

     (f)     Any    principal   payments   made   to   any    VFC
Certificateholder pursuant to this Section 5  shall  be  made  by
wire  transfer  to  such  VFC  Certificateholder  to  an  account
designated by such VFC Certificateholder by written notice  given
to the Paying Agent not less than five (5) Business Days prior to
the  related payment date no later than 2:30 p.m., New York  City
time, on such payment date.

     SECTION 6.     Variable Funding Terms of the VFCs.

     (a)   The  Transferor may offer for purchase  by  Class  A-1
Purchasers, Class A-2 Purchasers or Class B Purchasers additional
undivided  interests in the Trust in specified amounts (any  such
amounts, respectively, an "Additional Class A-1 Invested Amount,"
an  "Additional  Class  A-2 Invested Amount"  or  an  "Additional
Class  B  Invested Amount" and, collectively, a  "VFC  Additional
Invested Amounts," and any "Additional Class A-1 Invested Amount"
and  "Additional  Class  A-2 Invested Amount,"  collectively,  an
"Additional  Class  A  Invested Amount") in accordance  with  the
applicable  Certificate Purchase Agreements and this  Section  6.
The VFC Additional Invested Amounts on any Business Day shall not
exceed  an amount equal to the excess of the aggregate amount  of
Principal  Receivables and amounts on deposit in the Equalization
Account (other than investment earnings thereon) over the greater
of  (a)  the  sum  of (i) the aggregate Invested Amount  of  each
Series,  including  the  Series  1999-1  Certificates,  then  out
standing  prior  to giving effect to the additions  of  such  VFC
Additional  Invested Amounts, minus amounts  on  deposit  in  the
principal  funding account for any Series, if any, and  (ii)  the
Minimum   Transferor  Interest  and  (b)  the  Minimum  Aggregate
Principal Receivables.  The aggregate Additional Class A Invested
Amounts  and Additional Class B Invested Amounts to be  purchased
shall have a minimum aggregate amount of $1,000,000 or more,  and
shall  be in integral multiples of $250,000 (or such other amount
designated  by  the  Transferor).   In  no  event  shall  (i)  an
Additional Class A-1 Invested Amount be offered for purchase  if,
after giving effect to such purchase, the Class A-1 VFC Principal
Balance  would  exceed  the Class A-1  Purchase  Limit,  (ii)  an
Additional Class A-2 Invested Amount be offered for purchase  if,
after giving effect to such purchase, the Class A-2 VFC Principal
Balance  would exceed the Class A-2 Purchase Limit, or  (iii)  an
Additional  Class B Invested Amount be offered for  purchase  if,
after  giving effect to such purchase, the Class B VFC  Principal
Balance  would  exceed the Class B Purchase Limit.   Without  the
consent of each affected Class A Purchaser and Class B Purchaser,
the  Transferor  shall  not effect sales of  Class  A  Additional
Invested  Amounts or Class B Additional Invested Amounts pursuant
to  this Section 6, if, as a result thereof, there would be  more
than  two changes in the Class A Invested Amount or the  Class  B
Invested Amount in any calendar week.  Without the consent of the
Class A-2 Purchasers, an Additional Class A-1 Invested Amount  be
not  offered for purchase except to the extent that, after giving
effect   to  such  purchase  and  any  concurrent  purchases   of
Additional  Class  A-2  Invested  Amounts,  the  Class  A-2   VFC
Principal Balance would equal the Class A-2 Purchase Limit.

     (b)  If Class A-1 Purchasers acquire an Additional Class A-1
Invested  Amount,  then  in  consideration  of  such  Class   A-1
Purchasers'  payments  of  an amount  equal  to  such  Additional
Class A-1 Invested Amount, the Servicer shall appropriately  note
such  Additional Class A-1 Invested Amount on the  related  Daily
Report  and  direct  the Trustee to pay to  the  Transferor  such
Additional Class A-1 Invested Amount, and the Invested Amount  of
the  Class A-1 Certificates will be equal to the Invested  Amount
of  the  Class A-1 Certificates stated in such Daily Report.   If
Class  A-2  Purchasers acquire an Additional Class  A-2  Invested
Amount,  then  in  consideration of such  Class  A-2  Purchasers'
payments of an amount equal to such Additional Class A-2 Invested
Amount,  the  Servicer shall appropriately note  such  Additional
Class  A-2 Invested Amount on the related Daily Report and direct
the  Trustee to pay to the Transferor such Additional  Class  A-2
Invested  Amounts,  and  the Invested Amount  of  the  Class  A-2
Certificates  will  be  equal  to  the  Invested  Amount  of  the
Class  A-2 Certificates stated in such Daily Report.  If Class  B
Purchasers acquire an Additional Class B Invested Amount, then in
consideration of such Class B Purchasers' payments of  an  amount
equal  to  such Additional Class B Invested Amount, the  Servicer
shall  appropriately note such Additional Class B Invested Amount
on  the related Daily Report and direct the Trustee to pay to the
Transferor  such  Additional Class B Invested  Amounts,  and  the
Invested Amount of the Class B Certificates will be equal to  the
Invested Amount of the Class B Certificates stated in such  Daily
Report.

     (c)   The  outstanding amounts of any Additional  Class  A-1
Invested  Amount purchased by each Class A-1 Purchaser  shall  be
evidenced by the Class A-1 Certificate issued on the Closing Date
substantially in the form of Exhibit A-1 (or thereafter issued in
replacement  or  exchange therefor).  Each Class A-1  Certificate
holder  shall  and  is hereby authorized to record  on  the  grid
attached  to  its  Class A-1 Certificate (or at  such  Class  A-1
Certificateholder's option, in its internal  books  and  records)
the  date and amount of any Additional Class A-1 Invested  Amount
purchased  by  it,  and  each repayment  thereof;  provided  that
failure  to make any such recordation on, or any error  in,  such
grid  (or  in such books and records) shall not adversely  affect
such  Class  A-1 Certificateholder's rights with respect  to  its
Class A-1 VFC Principal Balance and its right to receive interest
payments  in respect of the Class A-1 VFC Principal Balance  held
by such Class A-1 Certificateholder.

     (d)   The  outstanding amounts of any Additional  Class  A-2
Invested  Amount purchased by each Class A-2 Purchaser  shall  be
evidenced by the Class A-2 Certificate issued on the Closing Date
substantially in the form of Exhibit A-2 (or thereafter issued in
replacement  or  exchange therefor).  Each Class A-2  Certificate
holder  shall  and  is hereby authorized to record  on  the  grid
attached  to  its  Class A-2 Certificate (or at  such  Class  A-2
Certificateholder's option, in its internal  books  and  records)
the  date and amount of any Additional Class A-2 Invested  Amount
purchased  by  it,  and  each repayment  thereof;  provided  that
failure  to make any such recordation on, or any error  in,  such
grid  (or  in such books and records) shall not adversely  affect
such  Class  A-2 Certificateholder's rights with respect  to  its
Class A-2 VFC Principal Balance and its right to receive interest
payments  in respect of the Class A-2 VFC Principal Balance  held
by such Class A-2 Certificateholder.

     (e)   The  outstanding  amounts of any  Additional  Class  B
Invested  Amount  purchased by each Class B  Purchaser  shall  be
evidenced  by a Class B Certificate to be issued on  the  Closing
Date  substantially  in the form of Exhibit  A-3  (or  thereafter
issued  in  replacement  or exchange  therefor).   Each  Class  B
Certificateholder shall and is hereby authorized to record on the
grid  attached  to its Class B Certificate (or at  such  Class  B
Certificateholder's option, in its internal  books  and  records)
the  date  and  amount of any Additional Class B Invested  Amount
purchased  by  it,  and  each repayment  thereof;  provided  that
failure  to make any such recordation on, or any error  in,  such
grid  (or  in such books and records) shall not adversely  affect
such  Class  B  Certificateholder's rights with  respect  to  its
Class  B  VFC Principal Balance and its right to receive interest
payments in respect of the Class B VFC Principal Balance held  by
such Class B Certificateholder.

     SECTION 7.  [Reserved]

     SECTION  8.      Mandatory Partial Amortization Events.  The
following   shall  constitute  "Mandatory  Partial   Amortization
Events" for the VFCs:

          (a)  failure:

           (i)on  the  part of the Transferor or the Servicer  to
          make any payment or deposit required to be made by  the
          Transferor   or  the  Servicer  by  the  terms   of   a
          Certificate  Purchase  Agreement,  the  Agreement,  the
          Series  Supplement or this Issuance  Supplement  on  or
          before the date occurring five (5) Business Days  after
          the  date  on  which  written notice  of  such  failure
          requiring  the  same to be remedied,  shall  have  been
          given to the Transferor or the Servicer, as applicable,
          by  the  Trustee,  the  Facility  Agent  or  any  Agent
          (subject to the last sentence of this Section 8),

           (ii)     on  the  part of the Originator to  make  any
          payment  or  deposit  required  to  be  made   by   the
          Originator  by  the  terms of the Receivables  Purchase
          Agreement  or  on  the part of the  Bank  to  make  any
          payment  or deposit required to be made by the Bank  by
          the  terms  of  the Receivables Transfer Agreement  (in
          either  case  other  than any  payment  or  deposit  in
          respect of any Defaulted Receivable Repurchase)  on  or
          before the date occurring five (5) Business Days  after
          the  date  on  which written notice  of  such  failure,
          requiring  the  same to be remedied,  shall  have  been
          given to the Originator or the Bank, as applicable,  by
          the  Trustee, the Facility Agent or any Agent  (subject
          to the last sentence of this Section 8), or

           (iii)    on the part of the Transferor, the Originator
          or  the Bank duly to observe or perform in any material
          respect  any covenants or agreements of the Transferor,
          the Originator or the Bank set forth in the Receivables
          Purchase Agreement, the Receivables Transfer Agreement,
          a  Certificate Purchase Agreement,  the Agreement,  the
          Series  Supplement  or this Issuance Supplement,  which
          failure has a material adverse effect on the VFC  Certi
          ficateholders  and  which continues  unremedied  for  a
          period  of  60  days after the date  on  which  written
          notice  of such failure, requiring the same to be  reme
          died,  shall  have  been given to the  Transferor,  the
          Originator or the Bank, as applicable, by the  Trustee,
          the  Facility Agent or any Agent (subject to  the  last
          sentence  of this Section 8), and continues  to  affect
          materially and adversely the interests of the VFC Certi
          ficateholders for such period;

          (b)    any  representation  or  warranty  made  by  the
     Transferor  in a Certificate Purchase Agreement  or  by  the
     Transferor,  the  Originator or the Bank in the  Receivables
     Purchase  Agreement  or the Receivables Transfer  Agreement,
     (i)  shall  prove to have been incorrect in any material  re
     spect when made or when delivered, which continues to be  in
     correct  in  any material respect for a period  of  60  days
     after  the  date  on which written notice of  such  failure,
     requiring the same to be remedied, shall have been given  to
     the  Transferor, the Originator or the Bank, as  applicable,
     by  the Trustee, the Facility Agent or any Agent (subject to
     the  last sentence of this Section 8), and (ii) as a  result
     of  which  the  interests of the VFC Certificateholders  are
     materially  and  adversely  affected  and  continue  to   be
     materially and adversely affected for such period; provided,
     however,  that a Mandatory Partial Amortization Event  pursu
     ant  to  this subsection  8(b) shall not be deemed  to  have
     occurred  hereunder with respect to the representations  and
     warranties made by the Originator referenced in Section 2.04
     of the Receivables Purchase Agreement or the Bank referenced
     in Section 2.04 of the Receivables Transfer Agreement if the
     Originator  shall  have  performed its  related  obligations
     under Section 2.04 of the Receivables Purchase Agreement; or

          (c)   failure  on  the  part of the  Servicer  duly  to
     observe   or  perform  in  any  respect  any  covenants   or
     agreements  of the Servicer set forth in the Agreement,  the
     Series Supplement, this Issuance Supplement or a Certificate
     Purchase Agreement (other than those set forth in subsection
     10.1(a) thereof), which has a material adverse effect on the
     VFC Certificateholders and which continues unremedied for  a
     period of 30 days after the date on which written notice  of
     such  failure, requiring the same to be remedied,  has  been
     given to the Servicer by the Trustee, the Facility Agent  or
     any  Agent (subject to the last sentence of this Section  8)
     and   continues  to  materially  adversely  affect  the  VFC
     Certificateholders  for such period; or the  Servicer  shall
     delegate its duties under the Agreement, except as permitted
     by  Section 8.7 thereof; or any representation, warranty  or
     certification  made by the Servicer in the  Agreement  or  a
     Certificate   Purchase  Agreement  or  in  any   certificate
     delivered   pursuant  to  the  Agreement  or  a  Certificate
     Purchase  Agreement shall prove to have been incorrect  when
     made,  which  has  a  material adverse  effect  on  the  VFC
     Certificateholders and which continues to  be  incorrect  in
     any  material respect for a period of 45 days after the date
     on  which written notice of such failure, requiring the same
     to be remedied, shall have been given to the Servicer by the
     Trustee,  the  Facility Agent or any Agent (subject  to  the
     last sentence of this Section 8) and continues to materially
     adversely affect such Certificateholders for such period.

Notwithstanding  the  foregoing,  a  delay  in  or   failure   of
performance  referred to in subsection 8(c) for a  period  of  60
days  (less  the  applicable  grace  periods  specified  in  such
subsections),   shall   not  constitute   a   Mandatory   Partial
Amortization  Event  if  such  delay  or  failure  could  not  be
prevented by the exercise of reasonable diligence by the Servicer
and  such  delay or failure was caused by an act of  God  or  the
public   enemy,  acts  of  declared  or  undeclared  war,  public
disorder,  rebellion,  riot or sabotage,  epidemics,  landslides,
lightning,  fire,  hurricanes,  tornadoes,  earthquakes,  nuclear
disasters  or meltdowns, floods, power outages, computer  failure
or similar causes; provided, however, that the Servicer shall not
be  excused by reason of any of the foregoing events from causing
the Trustee to make timely payment of amounts required to be paid
pursuant to Sections 4.12 and 4.13 of the Series Supplement.  The
preceding sentence shall not relieve the Servicer from using  its
best  efforts to perform its obligations in a timely manner,  and
the  Servicer  shall  provide the Trustee,  the  Transferor,  the
Facility  Agent  and  each  Agent with an  Officer's  Certificate
giving  prompt  notice of such failure or delay by  it,  together
with a description of the cause of such failure or delay and  its
efforts  so  to perform its obligations.  In no event  shall  the
Trustee,  the Facility Agent or any Agent have any obligation  to
give  any  notice described above in this Section 8  unless  such
Person  shall  have actual knowledge of the event or circumstance
permitting  such  notice to be given and,  in  the  case  of  the
Facility  Agent  or any Agent, such Person shall be  required  to
give  such notice pursuant to the applicable Certificate Purchase
Agreement.

     SECTION 9. Additional VFC Provisions.  (a)  Section 10.2  of
the  Agreement  shall read in its entirety  as  provided  in  the
Agreement  and,  in  addition, the following sentence  should  be
inserted in the fifteenth line of subsection 10.2(a) between  the
phrase  "acceptable  to  the Trustee."  and  "If  such  Successor
Servicer  is"  and shall be applicable only with respect  to  the
VCFs:  "Any Successor Servicer must either (A) be approved by the
Facility   Agent,  the  Class  A-1  Purchasers,  the  Class   A-2
Purchasers  and the Class B Purchasers or (B) be a  Person  which
(i)  has  a tangible net worth of at least $50,000,000, (ii)  has
serviced  an  average  of at least $1,000,000,000  of  credit  or
charge card receivables outstanding during the previous 12 months
and (iii) has a senior long-term debt rating, as determined by at
least  one nationally recognized statistical rating organization,
of  at  least  "BBB" or its equivalent, provided,  that  if  such
Successor  Servicer has no long term debt or  such  debt  is  not
rated by a nationally recognized statistical rating organization,
the long term debt rating of its parent must be at least "BBB" or
its equivalent."

     (b)   Section  11.7  of  the Agreement  shall  read  in  its
entirety  as  provided  in the Agreement and,  in  addition,  the
following  sentence  shall  be added to  the  end  of  subsection
11.7(c)  of  the Agreement and shall be applicable  only  to  the
VFCs:    "Any  successor  trustee  appointed  pursuant  to   this
Section  11.7  shall be subject to the written  consents  of  the
Facility   Agent,  the  Class  A-1  Purchasers,  the  Class   A-2
Purchasers and the Class B Purchasers, which consents  shall  not
be unreasonably withheld."

     (c)   A  copy  of  each  notice, demand, direction,  report,
Officer's Certificate or other certificate, election and  opinion
required  to  be sent or delivered to the Rating  Agency  or  the
Trustee  shall  also be sent or delivered and,  in  the  case  of
opinions  or  letters of reliance thereon, shall be addressed  to
the  Facility Agent and each Agent, for the benefit of itself and
each related Class A-1 Purchaser, Class A-2 Purchaser and Class B
Purchasers.

     (d)   For purposes of any provision of the Agreement or  the
Series  Supplement which requires that any Rating Agency  confirm
that  an  action or condition would not result in a reduction  or
withdrawal of its rating of the Series 1999-1 Certificates or any
class  thereof, such requirement shall mean, with respect to  the
VFCs, that (i) each Rating Agency shall have confirmed that  such
action or condition would not result in a reduction or withdrawal
of  its  rating of any Class of the VFCs, and (ii) that  each  of
Moody's,  Standard & Poor's and, if applicable, Fitch IBCA,  Inc.
shall  have  confirmed to each Conduit Purchaser (as  defined  in
each  applicable Certificate Purchase Agreement) that such action
or condition would not result in a reduction or withdrawal of its
rating  of any commercial paper notes or other obligations issued
by  such Conduit Purchaser, without giving effect to any increase
of  any  credit or liquidity enhancement provided to such Conduit
Purchaser  (other than, in the case of a purchase  of  Additional
Class  A Invested Amounts or Additional Class B Invested Amounts,
as  applicable, a proportionate increase in the liquidity support
provided  to  such  Conduit Purchaser by  its  related  Liquidity
Purchasers  (as  defined in the applicable  Certificate  Purchase
Agreement) in respect of its interest in the VFCs).

     (e)   The Transferor and the Servicer shall not permit a New
Issuance  to  occur in violation of the terms of any  Certificate
Purchase Agreement.

     (f)   For purposes of this Issuance Supplement, (i) consents
required to be given by the Class A-1 Purchasers shall be  deemed
to   have   been   given   if   provided   (A)   by   Class   A-1
Certificateholders  holding Undivided Interests aggregating  more
than 50% of the portion of the Invested Amount represented by the
Class  A-1  Certificates or (B) by one or more Agents  under  the
Class A-1 Certificate Purchase Agreement which certify that  they
are  entitled  to  give  such consent  on  behalf  of  Class  A-1
Purchasers  as  provided  in the Class A-1  Certificate  Purchase
Agreement;  (ii) consents required to be given by the  Class  A-2
Purchasers shall be deemed to have been given if provided (A)  by
Class   A-2   Certificateholders   holding  Undivided   Interests
aggregating  more than 50% of the portion of the Invested  Amount
represented by the Class A-2 Certificates or (B) by one  or  more
Agents  under the Class A-2 Certificate Purchase Agreement  which
certify that they are entitled to give such consent on behalf  of
Class  A-2  Purchasers as provided in the Class  A-2  Certificate
Purchase  Agreement; and (iii) consents required to be  given  by
the  Class  B  Purchasers shall be deemed to have been  given  if
provided  (A)  by  Class B Certificateholders  holding  Undivided
Interests  aggregating  more than  50%  of  the  portion  of  the
Invested Amount represented by the Class B Certificates or (B) by
one  or  more  Agents  under  the Class  B  Certificate  Purchase
Agreement  which  certify that they are  entitled  to  give  such
consent  on  behalf  of Class B Purchasers  as  provided  in  the
Class B Certificate Purchase Agreement.

     (g)    The  Transferor  shall  not  deposit  funds  in   any
Defeasance Account with respect to the VFCs of any Class which is
a Parity Class with respect to VFCs unless either (i) each Rating
Agency shall have confirmed that such deposit would not result in
a reduction or withdrawal of its rating on each Class of VFCs, or
(ii)  each  Class  A Purchaser and Class B Purchaser  shall  have
consented to such deposit.

     SECTION  10. Ratification of Agreement.  As supplemented  by
this  Issuance  Supplement,  the Agreement  is  in  all  respects
ratified  and  confirmed and the Agreement as so supplemented  by
this  Issuance Supplement shall be read, taken, and construed  as
one and the same instrument.

     SECTION 11. Counterparts.  This Issuance Supplement  may  be
executed in any number of counterparts, each of which so executed
shall  be  deemed to be an original, but all of such counterparts
shall together constitute but one and the same instrument.

     SECTION  12. GOVERNING LAW.  THIS ISSUANCE SUPPLEMENT  SHALL
BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
WITHOUT  REFERENCE  TO ITS CONFLICT OF LAW  PROVISIONS,  AND  THE
OBLIGATIONS,  RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER  SHALL
BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     SECTION  13.   The  Trustee.   The  Trustee  shall  not   be
responsible  in  any manner whatsoever for or in respect  of  the
sufficiency of this Issuance Supplement or for or in  respect  of
the Preliminary Statement contained herein, all of which recitals
are made solely by the Transferor.

     SECTION  14.  Limitation  of  Liability.   It  is  expressly
understood  and  agreed  by  the parties  hereto  that  (a)  this
Issuance  Supplement is executed and delivered by  Bankers  Trust
(Delaware), not individually or personally but solely as  Trustee
under this Issuance Supplement, in the exercise of the powers and
authority  conferred  and  vested  in  it  under  the  Agreement,
(b)  each  of  the representations, undertakings  and  agreements
herein  made on the part of the Trustee is made and intended  not
as  personal  representations,  undertakings  and  agreements  by
Bankers Trust (Delaware) but is made and intended for the purpose
for binding only the Trustee and (c) under no circumstances shall
Bankers Trust (Delaware) be personally liable for the payment  of
any  indebtedness or expenses of the Trustee or be liable for the
breach or failure of any obligation, representation, warranty  or
covenant  made  or undertaken by the Trustee under this  Issuance
Supplement or the other related documents.

     SECTION  15.  Instructions in Writing. All  instructions  or
other communications given by the Servicer or any other person to
the  Trustee  pursuant to this Issuance Supplement  shall  be  in
writing, and, with respect to the Servicer, may be included in  a
Daily Report or Settlement Statement.

                       [Signatures Follow]

     IN  WITNESS  WHEREOF, the Transferor, the Servicer  and  the
Trustee  have caused this Issuance Supplement to be duly executed
by  their respective officers as of the day and year first  above
written.

                     SRI Receivables Purchase Co., Inc.,
                     Transferor

                     By: /s/ Charles M. Sledge
                       Name: Charles M. Sledge
                       Title: SVP

                     Specialty Retailers, Inc., Servicer

                     By: /s/ James A. Marcum
                       Name: James A. Marcum
                       Title: Vice Chairman, CFO

                     Bankers Trust (Delaware), not in its
                     individual capacity but solely as Trustee

                     By: /s/ Patricia M F Russo
                       Name: Patricia M F Russo
                       Title: Attorney in Fact

                                                      Exhibit A-1

No. ___

         FORM OF CLASS A-1 VARIABLE FUNDING CERTIFICATE

     THIS  CERTIFICATE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED
IN  A  TRANSACTION EXEMPT FROM REGISTRATION UNDER THE  SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT").  THIS CERTIFICATE
HAS   NOT  BEEN  REGISTERED  UNDER  THE  SECURITIES  ACT  OR  ANY
APPLICABLE  STATE  SECURITIES LAW OF ANY STATE  AND  MAY  NOT  BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS REGISTERED
PURSUANT TO OR EXEMPT FROM REGISTRATION UNDER THE SECURITIES  ACT
AND ANY OTHER APPLICABLE SECURITIES LAW.

     EACH PURCHASER AND HOLDER OF THIS CERTIFICATE REPRESENTS AND
WARRANTS  FOR THE BENEFIT OF SRI RECEIVABLES PURCHASE  CO.,  INC.
AND  SPECIALTY  RETAILERS, INC., THAT SUCH  PURCHASER  OR  HOLDER
EITHER  (A)  IS NOT (I) AN EMPLOYEE BENEFIT PLAN (AS  DEFINED  IN
SECTION  3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY  ACT  OF
1974,  AS AMENDED ("ERISA") THAT IS SUBJECT TO THE PROVISIONS  OF
TITLE I OF ERISA, (II) A PLAN OR OTHER ARRANGEMENT (INCLUDING  AN
INDIVIDUAL  RETIREMENT ACCOUNT OR KEOGH PLAN) THAT IS SUBJECT  TO
SECTION  4975  OF THE INTERNAL REVENUE CODE OF 1986,  AS  AMENDED
(THE  "CODE"), OR (III) A "BENEFIT PLAN INVESTOR" (AS DEFINED  IN
UNITED  STATES  DEPARTMENT  OF LABOR ("DOL")  REGULATION  SECTION
2510.3-101)  OR (B) IS AN INSURANCE COMPANY ACTING ON  BEHALF  OF
ITS  GENERAL  ACCOUNT  AND  (I) ON  THE  DATE  IT  ACQUIRES  THIS
CERTIFICATE, LESS THAN 25% OF THE ASSETS OF SUCH GENERAL  ACCOUNT
(AS  DETERMINED  BY  SUCH  INSURANCE  COMPANY)  CONSTITUTE  "PLAN
ASSETS" FOR PURPOSES OF TITLE I OF ERISA OR SECTION 4975  OF  THE
CODE,  (II) IF AFTER THE INITIAL ACQUISITION OF THIS CERTIFICATE,
DURING  ANY  CALENDAR QUARTER 25% OR MORE OF THE ASSETS  OF  SUCH
GENERAL   ACCOUNT  (AS  DETERMINED  BY  SUCH  INSURANCE  COMPANY)
CONSTITUTE  "PLAN ASSETS" FOR PURPOSES OF TITLE  I  OF  ERISA  OR
SECTION  4975 OF THE CODE AND NO EXEMPTION OR EXCEPTION FROM  THE
PROHIBITED TRANSACTION RULES APPLIES TO THE CONTINUED HOLDING  OF
THIS   CERTIFICATE  UNDER  SECTION  401(c)  OF  ERISA  AND  FINAL
REGULATIONS  THEREUNDER OR AN EXEMPTION OR REGULATION  ISSUED  BY
THE DOL UNDER ERISA, THEN SUCH INSURANCE COMPANY WILL DISPOSE  OF
ALL  OF THE CERTIFICATES THEN HELD IN ITS GENERAL ACCOUNT BY  THE
END OF THE NEXT FOLLOWING CALENDAR QUARTER, AND (III) ON THE DATE
IT  ACQUIRES THIS CERTIFICATE AND THROUGHOUT THE PERIOD  THAT  IT
HOLDS  THEM IT MEETS ALL THE REQUIREMENTS OF AND IS ELIGIBLE  FOR
EXEMPTIVE RELIEF UNDER PTCE 95-60.

                  SRI RECEIVABLES MASTER TRUST
     CLASS A-1 VARIABLE FUNDING CERTIFICATE, SERIES 1999-1

Evidencing an undivided interest in a trust, the corpus of  which
consists  of  receivables generated from  time  to  time  in  the
ordinary   course  of  business  from  a  portfolio  of  consumer
revolving  credit  card  accounts of  Specialty  Retailers,  Inc.
("SRI"), Granite National Bank, N.A. or subsidiaries of  SRI  and
other  assets  and  interests constituting the  Trust  under  the
Agreement described below.

 (Not an interest in or a recourse obligation of SRI Receivables
                       Purchase Co., Inc.,
            SRI or any affiliate of either of them.)

     This    certifies   that   [________________________]   (the
"Certificateholder")  is the registered  owner  of  a  fractional
undivided  interest  in  the SRI Receivables  Master  Trust  (the
"Trust")  issued  pursuant  to the Second  Amended  and  Restated
Pooling  and  Servicing Agreement, dated as of November  1,  1999
(the "Pooling and Servicing Agreement"; such term to include  any
amendment  or  supplement thereto) by and among  SRI  Receivables
Purchase Co., Inc., as Transferor (the "Transferor"), SRI, as the
Servicer  (together  with  its successors  and  assigns  in  such
capacity,  the  "Servicer"),  and Bankers  Trust  (Delaware),  as
Trustee  (together  with its successors  in  such  capacity,  the
"Trustee"), the Series 1999-1 Supplement, dated as of November 9,
1999 (the "Series 1999-1 Supplement"), among the Transferor, SRI,
as Servicer, and the Trustee and the Issuance Supplement I, dated
as  of  November  9, 1999 (the "Issuance Supplement")  among  the
Transferor,  SRI, as Servicer, and the Trustee. The  Pooling  and
Servicing  Agreement,  as  supplemented  by  the  Series   1999-1
Supplement and the Issuance Supplement, is herein referred to  as
the  "Agreement".  The corpus of the Trust consists of all of the
Transferor's right, title and interest in, to and under the Trust
Property (as defined in the Agreement).

     This Certificate does not purport to summarize the Agreement
and  reference  is  made to the Agreement  for  information  with
respect   to   the  interests,  rights,  benefits,   obligations,
proceeds, and duties evidenced hereby and the rights, duties  and
obligations of the Trustee. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to  them
in  the  Agreement.  This Certificate  is  one  of  a  Series  of
Certificates  entitled "SRI Receivables Master  Trust  Class  A-1
Variable  Funding Certificates, Series 1999-1"  (the  "Class  A-1
Certificates"),  each of which represents a fractional  undivided
interest in the Trust, and is issued under and is subject to  the
terms,  provisions  and  conditions of the  Agreement,  to  which
Agreement, as amended from time to time, the Certificateholder by
virtue  of  the  acceptance  hereof  assents  and  by  which  the
Certificateholder is bound.

     Pursuant  to  the  Agreement, the Trust has  also  issued  a
classes  of  certificates  entitled the "SRI  Receivables  Master
Trust  Class  A-2 Variable Funding Certificates,  Series  1999-1"
(the  "Class A-2 Certificates" and, together with the  Class  A-1
Certificates,  the "Class A Certificates"), the "SRI  Receivables
Master  Trust  Class  B  Variable  Funding  Certificates,  Series
1999-1" (the "Class B Certificates"), the "SRI Receivables Master
Trust  Floating  Rate Class C Certificates, Series  1999-1"  (the
"Class  C  Certificates"),  the  "SRI  Receivables  Master  Trust
Floating Rate Class D Certificates, Series 1999-1" (the "Class  D
Certificates")  and  the "SRI Receivables Master  Trust  Class  E
Certificates,  Series 1999-1" (the "Class E Certificates").   The
Class  A-2  Certificates  are on a  parity  with  the  Class  A-1
Certificates,  and  the  Class  B  Certificates,  the   Class   C
Certificates,  the  Class  D  Certificates  and   the   Class   E
Certificates are subordinated to the Class A Certificates as  and
to the extent provided in the Agreement.

     The  principal of and interest on this Certificate  will  be
payable as and to the extent provided in the Agreement.

     The Class A-1 Initial Invested Amount of this Certificate is
set   forth   on  the  grid  attached  hereto.   The  Class   A-1
Certificateholder or its agent is authorized from time to time to
record  the amount and date of each Additional Class A-1 Invested
Amount  evidenced  by  this  Certificate  and  each  payment   of
principal  of  this Certificate on such grid or on a continuation
thereof  which shall be attached thereto and made a part thereof,
and  any  such notation shall constitute prima facie evidence  of
the  accuracy  of  the  information so  recorded;  provided  that
failure to make any such recordation on such grid or any error in
such   grid   shall   not  adversely  affect   such   Class   A-1
Certificateholder's  rights with respect to  its  Class  A-1  VFC
Principal  Balance and its right to receive interest payments  in
respect of this Certificate.

     The   Transferor  has  structured  the  Agreement  and   the
Certificates  with the intention that the Class A-1  Certificates
will qualify under applicable tax law as debt, and the Transferor
and  each  holder of a Class A-1 Certificate or of  any  interest
therein  by  acceptance  of  its Class  A-1  Certificate  or  any
interest therein, agrees to treat the Class A-1 Certificates  for
purposes  of  federal, state and local income or franchise  taxes
and any other tax imposed on or measured by income, as debt.

     It  is expressly understood and agreed by the parties hereto
that  (a)  this Certificate is executed and delivered by  Bankers
Trust  (Delaware), not individually or personally but  solely  as
Trustee,  (b)  each  of  the  representations,  undertakings  and
agreements  herein made on the part of the Trustee  is  made  and
intended  not  as  personal  representations,  undertakings   and
agreements  by Bankers Trust (Delaware) but is made and  intended
for  the  purpose for binding only the Trustee and (c)  under  no
circumstances shall Bankers Trust (Delaware) be personally liable
for the payment of any indebtedness or expenses of the Trustee or
be   liable   for  the  breach  or  failure  of  any  obligation,
representation,  warranty or covenant made or undertaken  by  the
Trustee under this Certificate.

     Unless  the  certificate of authentication hereon  has  been
executed  by  or  on behalf of the Trustee, by manual  signature,
this  Certificate shall not be entitled to any benefit under  the
Agreement, or be valid for any purpose.

     IN   WITNESS   WHEREOF,  the  Transferor  has  caused   this
Certificate to be duly executed under its official seal.

                         SRI   RECEIVABLES  PURCHASE  CO.,  INC.,
Transferor

                         By:_____________________________________
_
                              Name:
                              Title:

                 CERTIFICATE OF AUTHENTICATION

     This is one of the Class A-1 Certificates referred to in the
within-mentioned Pooling and Servicing Agreement.

Date:                          BANKERS TRUST (DELAWARE),  not  in
its individual
                         capacity but solely as Trustee

                         By:  [______________], as Authenticating
Agent

                         By: ____________________________________
                                   Authorized Signatory

             GRID TO CLASS A-1 CERTIFICATE NO. ____

   Date of        Additional        Amount of     Notation Made
 Transaction       Class A-1        Principal          By
                   Invested          Payment
                    Amount

                $                N/A             N/A
                (Class A-1
                Initial
                Invested
                Amount)

                                                      Exhibit A-2

No. ___

             CLASS A-2 VARIABLE FUNDING CERTIFICATE

     THIS  CERTIFICATE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED
IN  A  TRANSACTION EXEMPT FROM REGISTRATION UNDER THE  SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT").  THIS CERTIFICATE
HAS   NOT  BEEN  REGISTERED  UNDER  THE  SECURITIES  ACT  OR  ANY
APPLICABLE  STATE  SECURITIES LAW OF ANY STATE  AND  MAY  NOT  BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS REGISTERED
PURSUANT TO OR EXEMPT FROM REGISTRATION UNDER THE SECURITIES  ACT
AND ANY OTHER APPLICABLE SECURITIES LAW.

     EACH PURCHASER AND HOLDER OF THIS CERTIFICATE REPRESENTS AND
WARRANTS  FOR THE BENEFIT OF SRI RECEIVABLES PURCHASE  CO.,  INC.
AND  SPECIALTY  RETAILERS, INC., THAT SUCH  PURCHASER  OR  HOLDER
EITHER  (A)  IS NOT (I) AN EMPLOYEE BENEFIT PLAN (AS  DEFINED  IN
SECTION  3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY  ACT  OF
1974,  AS AMENDED ("ERISA") THAT IS SUBJECT TO THE PROVISIONS  OF
TITLE I OF ERISA, (II) A PLAN OR OTHER ARRANGEMENT (INCLUDING  AN
INDIVIDUAL  RETIREMENT ACCOUNT OR KEOGH PLAN) THAT IS SUBJECT  TO
SECTION  4975  OF THE INTERNAL REVENUE CODE OF 1986,  AS  AMENDED
(THE  "CODE"), OR (III) A "BENEFIT PLAN INVESTOR" (AS DEFINED  IN
UNITED  STATES  DEPARTMENT  OF LABOR ("DOL")  REGULATION  SECTION
2510.3-101)  OR (B) IS AN INSURANCE COMPANY ACTING ON  BEHALF  OF
ITS  GENERAL  ACCOUNT  AND  (I) ON  THE  DATE  IT  ACQUIRES  THIS
CERTIFICATE, LESS THAN 25% OF THE ASSETS OF SUCH GENERAL  ACCOUNT
(AS  DETERMINED  BY  SUCH  INSURANCE  COMPANY)  CONSTITUTE  "PLAN
ASSETS" FOR PURPOSES OF TITLE I OF ERISA OR SECTION 4975  OF  THE
CODE,  (II) IF AFTER THE INITIAL ACQUISITION OF THIS CERTIFICATE,
DURING  ANY  CALENDAR QUARTER 25% OR MORE OF THE ASSETS  OF  SUCH
GENERAL   ACCOUNT  (AS  DETERMINED  BY  SUCH  INSURANCE  COMPANY)
CONSTITUTE  "PLAN ASSETS" FOR PURPOSES OF TITLE  I  OF  ERISA  OR
SECTION  4975 OF THE CODE AND NO EXEMPTION OR EXCEPTION FROM  THE
PROHIBITED TRANSACTION RULES APPLIES TO THE CONTINUED HOLDING  OF
THIS   CERTIFICATE  UNDER  SECTION  401(c)  OF  ERISA  AND  FINAL
REGULATIONS  THEREUNDER OR AN EXEMPTION OR REGULATION  ISSUED  BY
THE DOL UNDER ERISA, THEN SUCH INSURANCE COMPANY WILL DISPOSE  OF
ALL  OF THE CERTIFICATES THEN HELD IN ITS GENERAL ACCOUNT BY  THE
END OF THE NEXT FOLLOWING CALENDAR QUARTER, AND (III) ON THE DATE
IT  ACQUIRES THIS CERTIFICATE AND THROUGHOUT THE PERIOD  THAT  IT
HOLDS  THEM IT MEETS ALL THE REQUIREMENTS OF AND IS ELIGIBLE  FOR
EXEMPTIVE RELIEF UNDER PTCE 95-60.

                  SRI RECEIVABLES MASTER TRUST
     CLASS A-2 VARIABLE FUNDING CERTIFICATE, SERIES 1999-1

Evidencing an undivided interest in a trust, the corpus of  which
consists  of  receivables generated from  time  to  time  in  the
ordinary   course  of  business  from  a  portfolio  of  consumer
revolving  credit  card  accounts of  Specialty  Retailers,  Inc.
("SRI"), Granite National Bank, N.A. or subsidiaries of  SRI  and
other  assets  and  interests constituting the  Trust  under  the
Agreement described below.

 (Not an interest in or a recourse obligation of SRI Receivables
                       Purchase Co., Inc.,
            SRI or any affiliate of either of them.)

     This    certifies   that   [________________________]   (the
"Certificateholder")  is the registered  owner  of  a  fractional
undivided  interest  in  the SRI Receivables  Master  Trust  (the
"Trust")  issued  pursuant  to the Second  Amended  and  Restated
Pooling  and  Servicing Agreement, dated as of November  1,  1999
(the "Pooling and Servicing Agreement"; such term to include  any
amendment  or  supplement thereto) by and among  SRI  Receivables
Purchase Co., Inc., as Transferor (the "Transferor"), SRI, as the
Servicer  (together  with  its successors  and  assigns  in  such
capacity,  the  "Servicer"),  and Bankers  Trust  (Delaware),  as
Trustee  (together  with its successors  in  such  capacity,  the
"Trustee"), the Series 1999-1 Supplement, dated as of November 9,
1999 (the "Series 1999-1 Supplement"), among the Transferor, SRI,
as  Servicer,   and  the Trustee and the Issuance  Supplement  I,
dated  as  of November 9, 1999 (the "Issuance Supplement")  among
the  Transferor, SRI, as Servicer, and the Trustee.  The  Pooling
and  Servicing  Agreement, as supplemented by the  Series  1999-1
Supplement and the Issuance Supplement, is herein referred to  as
the  "Agreement".  The corpus of the Trust consists of all of the
Transferor's right, title and interest in, to and under the Trust
Property (as defined in the Agreement).

     This Certificate does not purport to summarize the Agreement
and  reference  is  made to the Agreement  for  information  with
respect   to   the  interests,  rights,  benefits,   obligations,
proceeds, and duties evidenced hereby and the rights, duties  and
obligations of the Trustee. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to  them
in  the  Agreement.  This Certificate  is  one  of  a  Series  of
Certificates  entitled "SRI Receivables Master  Trust  Class  A-2
Variable  Funding Certificates, Series 1999-1"  (the  "Class  A-2
Certificates"),  each of which represents a fractional  undivided
interest in the Trust, and is issued under and is subject to  the
terms,  provisions  and  conditions of the  Agreement,  to  which
Agreement, as amended from time to time, the Certificateholder by
virtue  of  the  acceptance  hereof  assents  and  by  which  the
Certificateholder is bound.

     Pursuant  to  the  Agreement, the Trust has  also  issued  a
classes  of  certificates  entitled the "SRI  Receivables  Master
Trust  Class  A-1 Variable Funding Certificates,  Series  1999-1"
(the  "Class A-1 Certificates" and, together with the  Class  A-2
Certificates,  the "Class A Certificates"), the "SRI  Receivables
Master  Trust  Class  B  Variable  Funding  Certificates,  Series
1999-1" (the "Class B Certificates"), the "SRI Receivables Master
Trust  Floating  Rate Class C Certificates, Series  1999-1"  (the
"Class  C  Certificates"),  the  "SRI  Receivables  Master  Trust
Floating Rate Class D Certificates, Series 1999-1" (the "Class  D
Certificates")  and  the "SRI Receivables Master  Trust  Class  E
Certificates,  Series 1999-1" (the "Class E Certificates").   The
Class  A-1  Certificates  are on a  parity  with  the  Class  A-2
Certificates,  and  the  Class  B  Certificates,  the   Class   C
Certificates,  the  Class  D  Certificates  and   the   Class   E
Certificates are subordinated to the Class A Certificates as  and
to the extent provided in the Agreement.

     The  principal of and interest on this Certificate  will  be
payable as and to the extent provided in the Agreement.

     The Class A-2 Initial Invested Amount of this Certificate is
set   forth   on  the  grid  attached  hereto.   The  Class   A-2
Certificateholder or its agent is authorized from time to time to
record  the amount and date of each Additional Class A-2 Invested
Amount  evidenced  by  this  Certificate  and  each  payment   of
principal  of  this Certificate on such grid or on a continuation
thereof  which shall be attached thereto and made a part thereof,
and  any  such notation shall constitute prima facie evidence  of
the  accuracy  of  the  information so  recorded;  provided  that
failure to make any such recordation on such grid or any error in
such   grid   shall   not  adversely  affect   such   Class   A-2
Certificateholder's  rights with respect to  its  Class  A-2  VFC
Principal  Balance and its right to receive interest payments  in
respect of this Certificate.

     The   Transferor  has  structured  the  Agreement  and   the
Certificates  with the intention that the Class A-2  Certificates
will qualify under applicable tax law as debt, and the Transferor
and  each  holder of a Class A-2 Certificate or of  any  interest
therein  by  acceptance  of  its Class  A-2  Certificate  or  any
interest therein, agrees to treat the Class A-2 Certificates  for
purposes  of  federal, state and local income or franchise  taxes
and any other tax imposed on or measured by income, as debt.

     It  is expressly understood and agreed by the parties hereto
that  (a)  this Certificate is executed and delivered by  Bankers
Trust  (Delaware), not individually or personally but  solely  as
Trustee,  (b)  each  of  the  representations,  undertakings  and
agreements  herein made on the part of the Trustee  is  made  and
intended  not  as  personal  representations,  undertakings   and
agreements  by Bankers Trust (Delaware) but is made and  intended
for  the  purpose for binding only the Trustee and (c)  under  no
circumstances shall Bankers Trust (Delaware) be personally liable
for the payment of any indebtedness or expenses of the Trustee or
be   liable   for  the  breach  or  failure  of  any  obligation,
representation,  warranty or covenant made or undertaken  by  the
Trustee under this Certificate.

     Unless  the  certificate of authentication hereon  has  been
executed  by  or  on behalf of the Trustee, by manual  signature,
this  Certificate shall not be entitled to any benefit under  the
Agreement, or be valid for any purpose.

     IN   WITNESS   WHEREOF,  the  Transferor  has  caused   this
Certificate to be duly executed under its official seal.

                         SRI   RECEIVABLES  PURCHASE  CO.,  INC.,
Transferor

                         By:_____________________________________
_
                              Name:
                              Title:

                 CERTIFICATE OF AUTHENTICATION

     This is one of the Class A-2 Certificates referred to in the
within-mentioned Pooling and Servicing Agreement.

Date:                          BANKERS TRUST (DELAWARE),  not  in
its individual
                         capacity but solely as Trustee

                         By:  [______________], as Authenticating
Agent

                         By: ____________________________________
                                   Authorized Signatory

             GRID TO CLASS A-2 CERTIFICATE NO. ____

   Date of        Additional        Amount of     Notation Made
 Transaction       Class A-2        Principal          By
                   Invested          Payment
                    Amount

                $                N/A             N/A
                (Class A-2
                Initial
                Invested
                Amount)

                                                      Exhibit A-3

No. ____

              CLASS B VARIABLE FUNDING CERTIFICATE

     THIS  CERTIFICATE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED
IN  A  TRANSACTION EXEMPT FROM REGISTRATION UNDER THE  SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT").  THIS CERTIFICATE
HAS   NOT  BEEN  REGISTERED  UNDER  THE  SECURITIES  ACT  OR  ANY
APPLICABLE  STATE  SECURITIES LAW OF ANY STATE  AND  MAY  NOT  BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS REGISTERED
PURSUANT TO OR EXEMPT FROM REGISTRATION UNDER THE SECURITIES  ACT
AND ANY OTHER APPLICABLE SECURITIES LAW.

     EACH PURCHASER AND HOLDER OF THIS CERTIFICATE REPRESENTS AND
WARRANTS  FOR THE BENEFIT OF SRI RECEIVABLES PURCHASE  CO.,  INC.
AND  SPECIALTY  RETAILERS, INC., THAT SUCH  PURCHASER  OR  HOLDER
EITHER  (A)  IS NOT (I) AN EMPLOYEE BENEFIT PLAN (AS  DEFINED  IN
SECTION  3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY  ACT  OF
1974,  AS AMENDED ("ERISA") THAT IS SUBJECT TO THE PROVISIONS  OF
TITLE I OF ERISA, (II) A PLAN OR OTHER ARRANGEMENT (INCLUDING  AN
INDIVIDUAL  RETIREMENT ACCOUNT OR KEOGH PLAN) THAT IS SUBJECT  TO
SECTION  4975  OF THE INTERNAL REVENUE CODE OF 1986,  AS  AMENDED
(THE  "CODE"), OR (III) A "BENEFIT PLAN INVESTOR" (AS DEFINED  IN
UNITED  STATES  DEPARTMENT  OF LABOR ("DOL")  REGULATION  SECTION
2510.3-101)  OR (B) IS AN INSURANCE COMPANY ACTING ON  BEHALF  OF
ITS  GENERAL  ACCOUNT  AND  (I) ON  THE  DATE  IT  ACQUIRES  THIS
CERTIFICATE, LESS THAN 25% OF THE ASSETS OF SUCH GENERAL  ACCOUNT
(AS  DETERMINED  BY  SUCH  INSURANCE  COMPANY)  CONSTITUTE  "PLAN
ASSETS" FOR PURPOSES OF TITLE I OF ERISA OR SECTION 4975  OF  THE
CODE,  (II) IF AFTER THE INITIAL ACQUISITION OF THIS CERTIFICATE,
DURING  ANY  CALENDAR QUARTER 25% OR MORE OF THE ASSETS  OF  SUCH
GENERAL   ACCOUNT  (AS  DETERMINED  BY  SUCH  INSURANCE  COMPANY)
CONSTITUTE  "PLAN ASSETS" FOR PURPOSES OF TITLE  I  OF  ERISA  OR
SECTION  4975 OF THE CODE AND NO EXEMPTION OR EXCEPTION FROM  THE
PROHIBITED TRANSACTION RULES APPLIES TO THE CONTINUED HOLDING  OF
THIS   CERTIFICATE  UNDER  SECTION  401(c)  OF  ERISA  AND  FINAL
REGULATIONS  THEREUNDER OR AN EXEMPTION OR REGULATION  ISSUED  BY
THE DOL UNDER ERISA, THEN SUCH INSURANCE COMPANY WILL DISPOSE  OF
ALL  OF THE CERTIFICATES THEN HELD IN ITS GENERAL ACCOUNT BY  THE
END OF THE NEXT FOLLOWING CALENDAR QUARTER, AND (III) ON THE DATE
IT  ACQUIRES THIS CERTIFICATE AND THROUGHOUT THE PERIOD  THAT  IT
HOLDS  THEM IT MEETS ALL THE REQUIREMENTS OF AND IS ELIGIBLE  FOR
EXEMPTIVE RELIEF UNDER PTCE 95-60.

                  SRI RECEIVABLES MASTER TRUST
      CLASS B VARIABLE FUNDING CERTIFICATE, SERIES 1999-1

Evidencing an undivided interest in a trust, the corpus of  which
consists  of  receivables generated from  time  to  time  in  the
ordinary   course  of  business  from  a  portfolio  of  consumer
revolving  credit  card  accounts of  Specialty  Retailers,  Inc.
("SRI"), Granite National Bank, N.A. or subsidiaries of  SRI  and
other  assets  and  interests constituting the  Trust  under  the
Agreement described below.

 (Not an interest in or a recourse obligation of SRI Receivables
                       Purchase Co., Inc.,
            SRI or any affiliate of either of them.)

     This    certifies   that   [________________________]   (the
"Certificateholder")  is the registered  owner  of  a  fractional
undivided  interest  in  the SRI Receivables  Master  Trust  (the
"Trust")  issued  pursuant  to the Second  Amended  and  Restated
Pooling  and  Servicing Agreement, dated as of November  1,  1999
(the "Pooling and Servicing Agreement"; such term to include  any
amendment  or  supplement thereto) by and among  SRI  Receivables
Purchase Co., Inc., as Transferor (the "Transferor"), SRI, as the
Servicer  (together  with  its successors  and  assigns  in  such
capacity,  the  "Servicer"),  and Bankers  Trust  (Delaware),  as
Trustee  (together  with its successors  in  such  capacity,  the
"Trustee"), the Series 1999-1 Supplement, dated as of November 9,
1999 (the "Series 1999-1 Supplement"), among the Transferor, SRI,
as Servicer, and the Trustee and the Issuance Supplement I, dated
as  of  November  9, 1999 (the "Issuance Supplement")  among  the
Transferor,  SRI, as Servicer, and the Trustee. The  Pooling  and
Servicing  Agreement,  as  supplemented  by  the  Series   1999-1
Supplement and the Issuance Supplement, is herein referred to  as
the  "Agreement".  The corpus of the Trust consists of all of the
Transferor's right, title and interest in, to and under the Trust
Property (as defined in the Agreement).

     This Certificate does not purport to summarize the Agreement
and  reference  is  made to the Agreement  for  information  with
respect   to   the  interests,  rights,  benefits,   obligations,
proceeds, and duties evidenced hereby and the rights, duties  and
obligations of the Trustee. To the extent not defined herein, the
capitalized terms used herein have the meanings ascribed to  them
in  the  Agreement.  This Certificate  is  one  of  a  Series  of
Certificates  entitled  "SRI Receivables  Master  Trust  Class  B
Variable  Funding  Certificates, Series  1999-1"  (the  "Class  B
Certificates"),  each of which represents a fractional  undivided
interest in the Trust, and is issued under and is subject to  the
terms,  provisions  and  conditions of the  Agreement,  to  which
Agreement, as amended from time to time, the Certificateholder by
virtue  of  the  acceptance  hereof  assents  and  by  which  the
Certificateholder is bound.

     Pursuant  to  the  Agreement, the Trust has  also  issued  a
classes  of  certificates  entitled the "SRI  Receivables  Master
Trust  Class  A-1 Variable Funding Certificates,  Series  1999-1"
(the "Class A-1 Certificates"), the "SRI Receivables Master Trust
Class  A-2  Variable  Funding Certificates, Series  1999-1"  (the
"Class  A-2  Certificates"  and,  together  with  the  Class  A-1
Certificates,  the "Class A Certificates"), the "SRI  Receivables
Master  Trust Floating Rate Class C Certificates, Series  1999-1"
(the  "Class C Certificates"), the "SRI Receivables Master  Trust
Floating Rate Class D Certificates, Series 1999-1" (the "Class  D
Certificates")  and  the "SRI Receivables Master  Trust  Class  E
Certificates,  Series 1999-1" (the "Class E Certificates").   The
Class B Certificates are subordinate to the Class A Certificates,
and  the  Class C Certificates, the Class D Certificates and  the
Class  E Certificates are subordinate to the Class A Certificates
and the Class B Certificates as and to the extent provided in the
Agreement.

     The  principal of and interest on this Certificate  will  be
payable as and to the extent provided in the Agreement.

     The  Class B Initial Invested Amount of this Certificate  is
set   forth   on  the  grid  attached  hereto.    The   Class   B
Certificateholder or its agent is authorized from time to time to
record  the  amount and date of each Additional Class B  Invested
Amount  evidenced  by  this  Certificate  and  each  payment   of
principal  of  this Certificate on such grid or on a continuation
thereof  which shall be attached thereto and made a part thereof,
and  any  such notation shall constitute prima facie evidence  of
the  accuracy  of  the  information so  recorded;  provided  that
failure to make any such recordation on such grid or any error in
such   grid   shall   not   adversely   affect   such   Class   B
Certificateholder's  rights  with respect  to  its  Class  B  VFC
Principal  Balance and its right to receive interest payments  in
respect of this Certificate.

     The   Transferor  has  structured  the  Agreement  and   the
Certificates  with  the intention that the Class  B  Certificates
will qualify under applicable tax law as debt, and the Transferor
and  each  holder  of a Class B Certificate or  of  any  interest
therein  by acceptance of its Class B Certificate or any interest
therein, agrees to treat the Class B Certificates for purposes of
federal, state and local income or franchise taxes and any  other
tax imposed on or measured by income, as debt.

     It  is expressly understood and agreed by the parties hereto
that  (a)  this Certificate is executed and delivered by  Bankers
Trust  (Delaware), not individually or personally but  solely  as
Trustee,  (b)  each  of  the  representations,  undertakings  and
agreements  herein made on the part of the Trustee  is  made  and
intended  not  as  personal  representations,  undertakings   and
agreements  by Bankers Trust (Delaware) but is made and  intended
for  the  purpose for binding only the Trustee and (c)  under  no
circumstances shall Bankers Trust (Delaware) be personally liable
for the payment of any indebtedness or expenses of the Trustee or
be   liable   for  the  breach  or  failure  of  any  obligation,
representation,  warranty or covenant made or undertaken  by  the
Trustee under this Certificate.

     Unless  the  certificate of authentication hereon  has  been
executed  by  or  on behalf of the Trustee, by manual  signature,
this  Certificate shall not be entitled to any benefit under  the
Agreement, or be valid for any purpose.

     IN   WITNESS   WHEREOF,  the  Transferor  has  caused   this
Certificate to be duly executed under its official seal.

                         SRI   RECEIVABLES  PURCHASE  CO.,  INC.,
Transferor

                         By:_____________________________________
_
                              Name:
                              Title:

                 CERTIFICATE OF AUTHENTICATION

     This  is one of the Class B Certificates referred to in  the
within-mentioned Pooling and Servicing Agreement.

Date:                          BANKERS TRUST (DELAWARE),  not  in
its individual
                         capacity but solely as Trustee

                         By:  [______________], as Authenticating
Agent

                         By: ____________________________________
                                   Authorized Signatory

              GRID TO CLASS B CERTIFICATE NO. ____

   Date of        Additional        Amount of     Notation Made
 Transaction        Class B         Principal          By
                   Invested          Payment
                    Amount

                $                N/A             N/A
                (Class B Initia
                l Invested
                Amount)

                                                      Exhibit B-1

                Class A-1 Interest Calculations

Terms  used  in  this  Exhibit  which  are  not  defined  in  the
Agreement, this Issuance Supplement or this Exhibit are  used  as
defined in the Class A-1 Certificate Purchase Agreement.

     (a)   "Class A-1 Interest" shall mean, with respect  to  any
Distribution Date, the sum of (i) interest on the Class  A-1  VFC
Principal Balance for the immediately preceding Interest  Accrual
Period  computed pursuant to subsection (b) and,  if  applicable,
subsection  (c), below, plus or minus (as the case may  be)  (ii)
any  Estimated Interest Adjustment with respect to  the  previous
Distribution Date.

     (b)   Interest  shall accrue on the Covered Portion  of  the
Class  A-1  VFC  Principal Balance during each  Interest  Accrual
Period at the following rates:

          (i)   Except  as otherwise provided in clause  (ii)  or
     (iv)  below, the Conduit Purchaser's Percentage Interest  of
     the  Covered Portion shall bear interest at a rate per annum
     equal  to  the Commercial Paper Rate from time  to  time  in
     effect.

          (ii)       If  and to the extent that, and for so  long
     as, a Conduit Purchaser at any time determines in good faith
     that  it  is  unable to raise or is precluded or  prohibited
     from  raising, or that it is not advisable to  raise,  funds
     through  the  issuance  of Commercial  Paper  Notes  in  the
     commercial paper market of the United States to finance  its
     purchase  or maintenance of its Percentage Interest  of  the
     Covered  Portion or any portion thereof (which determination
     may be based on any allocation method employed in good faith
     by  the  Conduit Purchaser), including by reason  of  market
     conditions  or by reason of insufficient availability  under
     any  of its Support Facilities or the downgrading of any  of
     its  Support Parties, except as otherwise provided in clause
     (iv)   below,  such  portion  of  such  Conduit  Purchaser's
     Percentage  Interest  of  the  Covered  Portion  shall  bear
     interest  at a rate per annum equal to the Alternative  Rate
     from time to time in effect.

          (iii)      Except as otherwise provided in clause  (iv)
     below,   the  Percentage Interest of the Covered Portion  of
     the  Class  A-1 VFC Principal Balance held by each Committed
     Purchaser and Liquidity Purchaser shall bear interest  at  a
     rate  per annum equal to the Alternative Rate from  time  to
     time in effect.

          (iv)  Notwithstanding the provisions  of  clauses  (i),
     (ii)  or  (iii)  above, from and after the occurrence  of  a
     Trust  Pay  Out Event or a Series 1999-1 Pay Out Event,  the
     entire  Covered Portion shall bear interest at  a  rate  per
     annum equal to the Risk Rate from time to time in effect.

     (c)   For each portion of each Interest Accrual Period  with
respect  to  which  there were Unreimbursed  Class  A-1  Investor
Charge-Offs,  interest  shall  accrue  on  the  portion  of   the
Class  A-1  VFC  Principal Balance equal to  the  amount  of  the
Unreimbursed Class A-1 Investor Charge-Offs at a rate  per  annum
equal to the Risk Rate from time to time in effect.

     (d)   The  Agent for the Class A-1 Owners shall  notify  the
Servicer  on  each  Certificate Rate Determination  Date  of  the
Commercial Paper Rate, the Alternative Rate and the Risk Rate, as
applicable,  and the Class A-1 Interest for the related  Interest
Accrual  Period for its related Purchaser Group substantially  in
the  form  of  Exhibit  B-1A (or such other  form  which  may  be
mutually acceptable to the applicable Agent and the Servicer from
time   to  time).   For  such  purposes,  such  Agent  may   rely
conclusively  on notices from the Conduit Purchasers  as  to  the
interest  rate  or  rates  from time to time  applicable  to  its
Percentage Interest of the Class A-1 VFC Principal Balance.  Such
notification from an Agent may be based on a Conduit  Purchaser's
estimate  of the Commercial Paper Rate as provided to such  Agent
and upon estimates of the Class A-1 Interest if the actual amount
is  not  then known to such Agent.  In any such case, such  Agent
shall  notify the Servicer on or before the following Certificate
Rate  Determination Date of the amount of any  variation  between
the  estimated  Class  A-1  Interest and  the  actual  Class  A-1
Interest  for the preceding Interest Accrual Period.  The  amount
of  any shortfall in interest based on such variation shall be  a
positive   "Estimated  Interest  Adjustment"  for  such  Interest
Accrual  Period,  and the amount of any overpayment  of  interest
based  on  such variation shall be a negative "Estimated Interest
Adjustment"  for such Interest Accrual Period.   Subject  to  any
Estimated   Interest  Adjustment,  each  determination   of   the
Commercial  Paper Rate, the Alternative Rate, the Risk  Rate  and
the  Class  A-1  Interest by any Agent shall  be  conclusive  and
binding on the Class A-1 Certificateholders, the Transferor,  the
Servicer and the Trustee in the absence of manifest error.

     (e)   Interest  calculated by reference  to  the  Commercial
Paper  Rate  or the Class A-1 Adjusted Eurodollar Rate  shall  be
calculated  on  the basis of a 360-day year for the  actual  days
elapsed.   Any interest calculated by reference to the  Corporate
Base  Rate shall be calculated on the basis of a 365- or  366-day
year, as applicable, for the actual days elapsed.

Definitions

     "Alternative Rate" shall mean, for each Class A-1 Purchaser,
(i)  for any Interest Accrual Period, if such Class A-1 Purchaser
shall  have  received  at least two London Business  Days  notice
prior  to  the commencement of such Interest Accrual Period  that
the applicable portion of its share of the Covered Portion of the
Class  A-1 VFC Principal Balance would bear interest by reference
to  the  Class  A-1  Adjusted Eurodollar Rate for  such  Interest
Accrual  Period, an interest rate per annum equal to the  sum  of
1.00%  plus  Adjusted Eurodollar Rate for such  Interest  Accrual
Period,  and (ii) otherwise, an interest rate per annum equal  to
the  Corporate Base Rate in effect from time to time during  such
Interest Accrual Period.

     "Class A-1 Adjusted Eurodollar Rate" shall mean (i) 5.55520%
for  the initial Interest Accrual Period, and thereafter (ii) for
any  Interest Accrual Period or portion thereof, a rate per annum
(rounded  upwards, if necessary, to the nearest  1/100th  of  1%)
equivalent  to  the  rate determined pursuant  to  the  following
formula:

     Class A-1 Adjusted Eurodollar Rate  =                  LIBOR
                                   Rate
                                   1-LIBOR Reserve Percentage

on  the  first day of such Interest Accrual Period.  For purposes
of  this definition, (a) "LIBOR Rate" shall mean, with respect to
any  Interest  Accrual Period or portion thereof,  the  rate  per
annum  shown  on  page  3750  of the Bridge  Information  Systems
Telerate  screen  or any successor page as the composite  offered
rate  for  London interbank deposits for a period equal  to  such
Interest Accrual Period (or portion) thereof, as shown under  the
heading  "USD" as of 11:00 a.m., London time, two London Business
Days  prior  to  the first day of such Interest  Accrual  Period;
provided that in the event no such rate is shown, the LIBOR  Rate
shall  be  the rate per annum (rounded upwards, if necessary,  to
the  nearest 1/100th of one percent) based on the rates at  which
Dollar  deposits  for  a  period equal to such  Interest  Accrual
Period (or portion thereof) are displayed on page "LIBOR" of  the
Reuters  Monitor Money Rates Service or such other  page  as  may
replace  the  LIBOR  page  on that service  for  the  purpose  of
displaying London interbank offered rates, of major banks  as  of
11:00  a.m., London time, two London Business Days prior  to  the
first  day  of such Interest Accrual Period (it being  understood
that  if  at least two such rates appear on such page,  the  rate
will  be  the arithmetic mean of such displayed rates);  provided
further  that  in  the  event  fewer  than  two  such  rates  are
displayed,  or if no such rate is relevant, the LIBOR Rate  shall
be  the rate per annum equal to the average of the rates at which
deposits  in  Dollars  are  offered by  the  Reference  Banks  at
approximately  11:00 a.m., London time, two London Business  Days
prior  to the first day of such Interest Accrual Period to  prime
banks  in the London interbank market for a period equal to  such
Interest Accrual Period (or portion thereof), it being understood
that if at least two such quotations are provided, the rate shall
be  the  arithmetic mean of such provided rates; provided further
that if fewer than two such rates are provided, the rate shall be
the  arithmetic mean of the rates quoted by major  banks  in  New
York   City,   selected  by  Credit  Suisse  First   Boston,   at
approximately 11:00 a.m., New York City time, on the first day of
such Interest Accrual Period to leading European banks for Dollar
deposits  for a period equal to such Interest Accrual Period  (or
portion thereof); provided further that if the LIBOR Rate is  not
established  for  any such Interest Accrual Period  as  otherwise
provided  above, the LIBOR Rate for such Interest Accrual  Period
shall equal the LIBOR Rate for the immediately preceding Interest
Accrual  Period, (b) "LIBOR Reserve Percentage" shall mean,  with
respect  to  any  Interest Accrual Period or portion  thereof,  a
percentage (expressed as a decimal) equal to the weighted average
of the percentages in effect during such Interest Accrual Period,
as  prescribed  by  the Federal Reserve Board (or  any  successor
thereto)   for   determining  the  maximum  reserve  requirements
applicable to "Eurocurrency liabilities" pursuant to Regulation D
or  any other applicable regulation of the Federal Reserve  Board
(or  any successor thereto) which prescribes reserve requirements
applicable to "Eurocurrency liabilities" as currently defined  in
Regulation D, and (c) "Reference Banks" shall mean the  principal
London offices of Credit Suisse First Boston and two other  major
banks  in  the  London interbank market selected by the  Servicer
with  the  consent of the Agents under the Class A-1  Certificate
Purchase Agreement.

     "Commercial  Paper Notes" shall mean, with  respect  to  the
Conduit Purchaser, the short-term promissory notes issued by  the
Conduit Purchaser which are allocated by the Conduit Purchaser as
its  funding  for its Percentage Interest of the  Class  A-1  VFC
Principal Balance.

     "Commercial Paper Rate" shall mean, (a) for any day  to  the
extent the Conduit Purchaser funds its Percentage Interest of the
Class  A-1  VFC  Principal Balance on such day  with  outstanding
Commercial Paper Notes, the sum of (i) the rate (or if more  than
one  rate, the weighted average of the rates) per annum at  which
such  Commercial Paper Notes were sold by any placement agent  or
commercial  paper dealer selected by or on behalf of the  Conduit
Purchaser,  as agreed between each such agent or dealer  and  the
Conduit  Purchaser; provided that if any rate as  agreed  between
any  such agent or dealer and the Conduit Purchaser is a discount
rate, then such rate shall be the rate (or if more than one rate,
the weighted average of the rates) resulting from converting such
discount  rate (or rates) to an interest-bearing equivalent  rate
per annum, plus (ii) dealer commissions (computed at the rate  of
0.05%  on  a  discount basis, or such higher rate as  has  become
customary  and usual in the commercial paper industry), placement
agent  fees  and commissions and Commercial Paper  Note  issuance
costs,  expressed  as  an  annualized  rate  in  respect  of  the
principal  component  of  such Commercial  Paper  Notes,  or  (b)
otherwise,  for any day, the Alternative Rate for the  applicable
Interest Accrual Period.

     "Committed  Purchaser" shall have the meaning  specified  in
the Class A-1 Certificate Purchase Agreement.

     "Conduit Purchaser" shall have the meaning specified in  the
Class A-1 Certificate Purchase Agreement.

     "Corporate Base Rate" shall mean, for any day, the higher of
(i)  the  base  commercial lending rate per annum announced  from
time  to time by Credit Suisse First Boston in New York in effect
on such day, or (ii) the interest rate per annum quoted by Credit
Suisse  First Boston at approximately 11:00 a.m., New  York  City
time,  on  such  day,  to dealers in the New York  Federal  funds
market  for  the overnight offering of Dollars by  Credit  Suisse
First  Boston  plus  one-half  of  one  percent  (0.50%).    (The
Corporate Base Rate is not intended to represent the lowest  rate
charged by Credit Suisse First Boston for extensions of credit.)

     "Covered Portion" shall mean, with respect to the Class  A-1
VFC  Principal Balance, a portion thereof equal to the Class  A-1
Invested Amount.

     "Liquidity  Purchaser" shall have the meaning  specified  in
the Class A-1 Certificate Purchase Agreement.

     "London Business Day" shall mean any Business Day other than
a day on which banking institutions in London, England trading in
Dollar deposits in the London interbank market are authorized  or
obligated by law or executive order to be closed.

     "Percentage   Interest",  with  respect  to  a   Class   A-1
Purchaser, shall be determined in accordance with the  Class  A-1
Certificate Purchase Agreement.

     "Risk Rate" shall mean 2.00% in excess of the Corporate Base
Rate in effect from time to time.

     "Support Facility" shall have the meaning specified  in  the
Class A-1 Certificate Purchase Agreement.

     "Support  Party"  shall have the meaning  specified  in  the
Class A-1 Certificate Purchase Agreement.

                                                     Exhibit B-1A

          SRI RECEIVABLES MASTER TRUST, SERIES 1999-1

Interest Accrual Period: __________, ____ to __________, ____
Transfer Date:      __________, ____
Distribution Date:       __________, ____
Purchaser Group:         _________________________________

I.   Class A-1 VFC Principal Balance (for Purchaser Group)

     1.   Covered Portion of the Class A-1 Principal
          Balance (as set forth in Daily Report)      $__________
     2.   Unreimbursed Class A-1 Charge-Offs Portion of
          the  Class A-1 VFC Principal Balance (as  set
          forth in Daily Report)                      $__________
     3.   Total  Class  A-1 VFC Principal  Balance  for
          Purchaser Group (1+2)                       $__________

II.  Computation of Class A-1 Interest

                             A.    B. Portion of     C. Interest
                            Rat    Class A-1 VFC       Amount
                             e   Principal Balance
     1  Commercial Paper          __%   $__________  $__________
     .  Rate
     2  LIBOR Rate                __%
     .
        Class A-1 Adjusted        __%
        Eurodollar Rate
        Corporate Base            __%
        Rate
             Alternative          __%   $__________  $__________
        Rate
     3  Risk Rate                 __%   $__________  $__________
     .
     4  Total Interest                               $__________
     .  (sum of items 1C,
        2C and 3C)

III. Computation of Class A-1 Interest for Purchaser Group:

     1.   Interest on Class A-1 VFC Principal Balance
          (item II.4C)                                $__________
     2.    Estimated  Interest Adjustment  (if  any)  from  prior
Monthly Period                                        $__________
     3.   Class A-1 Interest (sum of items 1 and 2)   $__________

                                                 Exhibit B-2

              Class A-2 Interest Calculations

Terms  used  in  this Exhibit which are not defined  in  the
Agreement, this Issuance Supplement or this Exhibit are used
as defined in the Class A-2 Certificate Purchase Agreement.

     (a)   "Class A-2 Interest" shall mean, with respect  to
any  Distribution  Date,  the sum of  (i)  interest  on  the
Class   A-2   VFC  Principal  Balance  for  the  immediately
preceding  Interest  Accrual  Period  computed  pursuant  to
subsection  (b) and, if applicable, subsection  (c),  below,
plus  or  minus  (as  the case may be)  (ii)  any  Estimated
Interest   Adjustment   with   respect   to   the   previous
Distribution Date.

     (b)   Interest shall accrue on the Covered  Portion  of
the  Class  A-2  VFC Principal Balance during each  Interest
Accrual Period at the following rates:

          (i)   Except as otherwise provided in clause  (ii)
     or  (iv)  below,  the  Conduit  Purchaser's  Percentage
     Interest of the Covered Portion shall bear interest  at
     a  rate  per  annum equal to the Commercial Paper  Rate
     from time to time in effect.

          (ii)       If and to the extent that, and  for  so
     long as, a Conduit Purchaser at any time determines  in
     good  faith that it is unable to raise or is  precluded
     or prohibited from raising, or that it is not advisable
     to  raise,  funds  through the issuance  of  Commercial
     Paper  Notes  in  the commercial paper  market  of  the
     United States to finance its purchase or maintenance of
     its  Percentage Interest of the Covered Portion or  any
     portion  thereof (which determination may be  based  on
     any  allocation method employed in good  faith  by  the
     Conduit  Purchaser),  including  by  reason  of  market
     conditions  or  by reason of insufficient  availability
     under  any of its Support Facilities or the downgrading
     of  any  of  its Support Parties,  except as  otherwise
     provided  in  clause (iv) below, such portion  of  such
     Conduit  Purchaser's Percentage Interest of the Covered
     Portion  shall bear interest at a rate per annum  equal
     to the Alternative Rate from time to time in effect.

          (iii)      Except as otherwise provided in  clause
     (iv)  below,  the Percentage Interest  of  the  Covered
     Portion of the Class A-2 VFC Principal Balance held  by
     each  Committed Purchaser and Liquidity Purchaser shall
     bear  interest  at  a  rate  per  annum  equal  to  the
     Alternative Rate from time to time in effect.

          (iv)  Notwithstanding  the provisions  of  clauses
     (i), (ii) or (iii) above, from and after the occurrence
     of  a  Trust Pay Out Event or a Series 1999-1  Pay  Out
     Event,  the entire Covered Portion shall bear  interest
     at a rate per annum equal to the Risk Rate from time to
     time in effect.

     (c)   For each portion of each Interest Accrual Period  with
respect  to  which  there were Unreimbursed  Class  A-2  Investor
Charge-Offs,  interest  shall  accrue  on  the  portion  of   the
Class  A-2  VFC  Principal Balance equal to  the  amount  of  the
Unreimbursed Class A-2 Investor Charge-Offs at a rate  per  annum
equal to the Risk Rate from time to time in effect.

     (d)   The  Agent for the Class A-1 Owners shall  notify  the
Servicer  on  each  Certificate Rate Determination  Date  of  the
Commercial Paper Rate, the Alternative Rate and the Risk Rate, as
applicable,  and the Class A-2 Interest for the related  Interest
Accrual  Period for its related Purchaser Group substantially  in
the  form  of  Exhibit B-2A  (or such other  form  which  may  be
mutually acceptable to the applicable Agent and the Servicer from
time   to  time).   For  such  purposes,  such  Agent  may   rely
conclusively  on notices from the Conduit Purchasers  as  to  the
interest  rate  or  rates  from time to time  applicable  to  its
Percentage Interest of the Class A-2 VFC Principal Balance.  Such
notification  from  an  Agent  may  be  based  on   the   Conduit
Purchaser's estimate of the Commercial Paper Rate as provided  to
such  Agent and upon estimates of the Class A-2 Interest  if  the
actual amount is not then known to such Agent.  In any such case,
such  Agent shall notify the Servicer on or before the  following
Certificate  Rate  Determination  Date  of  the  amount  of   any
variation between the estimated Class A-2 Interest and the actual
Class  A-2  Interest for the preceding Interest  Accrual  Period.
The  amount of any shortfall in interest based on such  variation
shall  be  a  positive "Estimated Interest Adjustment"  for  such
Interest  Accrual  Period, and the amount of any  overpayment  of
interest  based on such variation shall be a negative  "Estimated
Interest  Adjustment" for such Interest Accrual Period.   Subject
to  any Estimated Interest Adjustment, each determination of  the
Commercial  Paper Rate, the Alternative Rate, the Risk  Rate  and
the  Class  A-2  Interest by any Agent shall  be  conclusive  and
binding on the Class A-2 Certificateholders, the Transferor,  the
Servicer and the Trustee in the absence of manifest error.

     (e)   Interest  calculated by reference  to  the  Commercial
Paper  Rate  or the Class A-2 Adjusted Eurodollar Rate  shall  be
calculated  on  the basis of a 360-day year for the  actual  days
elapsed.  Any interest calculated by reference to the Prime  Rate
shall  be  calculated on the basis of a 365- or 366-day year,  as
applicable, for the actual days elapsed.

Definitions

     "Alternative Rate" shall mean, for each Class A-2 Purchaser,
(i)  for any Interest Accrual Period, if such Class A-2 Purchaser
shall  have  received  at least two London Business  Days  notice
prior  to  the commencement of such Interest Accrual Period  that
the applicable portion of its share of the Covered Portion of the
Class  A-2 VFC Principal Balance would bear interest by reference
to  the  Class  A-2  Adjusted Eurodollar Rate for  such  Interest
Accrual  Period, an interest rate per annum equal to the  sum  of
1.00%  plus  Adjusted Eurodollar Rate for such  Interest  Accrual
Period,  and (ii) otherwise, an interest rate per annum equal  to
the  Prime Rate in effect from time to time during such  Interest
Accrual  Period,  plus, in either case, related costs  associated
with  the  funding of such portion of the Class A-2 VFC Principal
Balance expressed as a percentage of the face amount thereof  and
converted to an interest-bearing equivalent rate per annum.

     "Class A-2 Adjusted Eurodollar Rate" shall mean (i) 5.55520%
for  the initial Interest Accrual Period, and thereafter (ii) for
any  Interest Accrual Period or portion thereof, a rate per annum
(rounded  upwards, if necessary, to the nearest  1/100th  of  1%)
equivalent  to  the  rate determined pursuant  to  the  following
formula:

     Class A-2 Adjusted Eurodollar Rate  =                  LIBOR
                                   Rate
                                   1-LIBOR Reserve Percentage

on  the  first day of such Interest Accrual Period.  For purposes
of  this definition, (a) "LIBOR Rate" shall mean, with respect to
any   Interest  Accrual  Period  or  portion  thereof,  the  rate
determined  by the applicable Class A-2 Purchaser on the  related
Interest Determination Date on the basis of the offered rates  of
the  Reference Banks for one-month United States dollar deposits,
as  such rates appear on the Telerate Page 3750, as of 11:00 a.m.
(London time) on such Interest Determination Date.  If such  rate
does not appear on Telerate Page 3750, the rate for that day will
be  determined  on  the basis of the rates at which  deposits  in
United  States  dollars  are offered by the  Reference  Banks  at
approximately 11:00 a.m., London time, on that day to prime banks
in the London interbank market for a period equal to the relevant
Interest  Period  (commencing on the first day of  such  Interest
Period).   The  applicable Class A-2 Purchaser will  request  the
principal London office of each of the Reference Banks to provide
a  quotation  of  its rate.  If at least two such quotations  are
provided,  the rate for that day will be the arithmetic  mean  of
the  quotations.   If fewer than two quotations are  provided  as
requested, the rate for that day will be the arithmetic  mean  of
the rates quoted by major banks in New York City, selected by the
Trustee, at approximately 11:00 a.m., New York City time, on that
day  for loans in United States dollars to leading European banks
for  a  period  equal  to  the relevant Interest  Accrual  Period
(commencing  on the first day of such period) (the  establishment
of  the  LIBOR Rate on each Interest Determination  Date  by  the
Class  A-2 Purchaser shall (in the absence of manifest error)  be
final  and  binding, (b) "LIBOR Reserve Percentage"  shall  mean,
with respect to any Interest Accrual Period or portion thereof, a
percentage (expressed as a decimal) equal to the weighted average
of the percentages in effect during such Interest Accrual Period,
as  prescribed  by  the Federal Reserve Board (or  any  successor
thereto)   for   determining  the  maximum  reserve  requirements
applicable to "Eurocurrency liabilities" pursuant to Regulation D
or  any other applicable regulation of the Federal Reserve  Board
(or  any successor thereto) which prescribes reserve requirements
applicable to "Eurocurrency liabilities" as currently defined  in
Regulation  D, (c) "Reference Banks" shall mean four prime  banks
in   the   London  interbank  market  selected  by  the   Program
Administrator, and (d) "Interest Determination Date"  shall  mean
two London Business Days prior to the commencement of an Interest
Accrual Period.

     "Commercial  Paper  Notes" shall mean,  with  respect  to  a
Conduit  Purchaser,  the commercial paper notes  issued  by  such
Conduit Purchaser.

     "Commercial  Paper  Rate" shall mean, for  any  day  to  the
extent the Conduit Purchaser funds its Percentage Interest of the
Class  A-2  VFC  Principal Balance on such day  with  outstanding
Commercial Paper Notes, a rate per annum equal to the sum of  (i)
the  rate or, if more than one rate, the weighted average of  the
rates, determined by converting to an interest-bearing equivalent
rate  per  annum the discount rate (or rates) at which Commercial
Paper  Notes outstanding on such day allocated to the funding  of
the  Class  A-2 Investor VFC Principal Balance were sold  by  any
placement  agent or commercial paper dealer of the  such  Conduit
Purchaser's Commercial Paper Notes, plus (ii) the commissions and
charges  charged  by  such placement agent  or  commercial  paper
dealer with respect to such Commercial Paper Notes expressed as a
percentage  of  the  face  amount thereof  and  converted  to  an
interest-bearing  equivalent rate per annum, plus  (iii)  related
costs  associated  with  the issuance of Commercial  Paper  Notes
expressed  as  a  percentage  of  the  face  amount  thereof  and
converted to an interest-bearing equivalent rate per annum.

     "Committed  Purchaser" shall have the meaning  specified  in
the Class A-2 Certificate Purchase Agreement.

     "Conduit Purchaser" shall have the meaning specified in  the
Class A-2 Certificate Purchase Agreement.

     "Covered Portion" shall mean, with respect to the Class  A-2
VFC  Principal Balance, a portion thereof equal to the Class  A-2
Invested Amount.

     "Liquidity  Purchaser" shall have the meaning  specified  in
the Class A-2 Certificate Purchase Agreement.

     "London Business Day" shall mean any Business Day other than
a day on which banking institutions in London, England trading in
Dollar deposits in the London interbank market are authorized  or
obligated by law or executive order to be closed.

     "Percentage   Interest",  with  respect  to  a   Class   A-2
Purchaser, shall be determined in accordance with the  Class  A-2
Certificate Purchase Agreement.

     "Prime Rate" shall mean, for any day, the rate set forth  in
H.15(519)  opposite the caption "Bank Prime Loan" for  such  day.
The  Prime Rate is also available on Telerate, currently at  page
125.   If any discrepancy arises between Telerate and the printed
version of H.15(519), the printed version of H.15(519) will  take
precedence.     If the Prime Rate is not published in  H.15(519),
then  the  Prime  Rate  will  be determined  by  calculating  the
arithmetic  mean of the rates of interest publicly  announced  by
each bank named on Telerate under the heading "Prime Rate Top  30
U.S.  Banks,"  currently at page 38, as such bank's  U.S.  dollar
prime rate or base lending rate as in effect on such day at  3:30
p.m.  (New York City time).  If fewer than four such rates appear
on Telerate for such Reset date, then the Prime Rate shall be the
arithmetic  mean  of the rate of interest publicly  announced  by
three  major  banks  in New York City, selected  by  the  Program
Administrator,  as their U.S. dollar prime rate or  base  lending
rate as in effect for such day.

     "Program Administrator" means CDC Financial Products,  Inc.,
or its successors and assigns.

     "Risk Rate" shall mean 2.00% in excess of the Prime Rate  in
effect from time to time.

                                                     Exhibit B-2A

          SRI RECEIVABLES MASTER TRUST, SERIES 1999-1

Interest Accrual Period: __________, ____ to __________, ____
Transfer Date:      __________, ____
Distribution Date:       __________, ____
Purchaser Group:         _________________________________

I.   Class A-2 VFC Principal Balance (for Purchaser Group)

     1.   Covered Portion of the Class A-2 Principal
          Balance (as set forth in Daily Report)      $__________
     2.   Unreimbursed Class A-2 Charge-Offs Portion of
          the Class A-2
           VFC Principal Balance (as set forth in Daily Report)$__________
     3.   Total  Class  A-2 VFC Principal  Balance  for
          Purchaser Group (1+2)                       $__________

II.  Computation of Class A-2 Interest

                             A.    B. Portion of     C. Interest
                            Rat    Class A-2 VFC       Amount
                             e   Principal Balance
     1  Commercial Paper          __%   $__________  $__________
     .  Rate
     2  LIBOR Rate                __%
     .
        Class A-2 Adjusted        __%
        Eurodollar Rate
        Prime Rate                __%
             Alternative          __%   $__________  $__________
        Rate
     3  Risk Rate                 __%   $__________  $__________
     .
     4  Total Interest                               $__________
     .  (sum of items 1C,
        2C and 3C)

III. Computation of Class A-2 Interest for Purchaser Group:

     1.   Interest on Class A-2 VFC Principal Balance
          (item II.4C)                                $__________
     2.   Estimated Interest Adjustment (if any) from
          prior Monthly Period                        $__________
     3.   Class A-2 Interest (sum of items 1 and 2)   $__________

                                                      Exhibit B-3

                 Class B Interest Calculations

Terms  used  in  this  Exhibit  which  are  not  defined  in  the
Agreement, this Issuance Supplement or this Exhibit are  used  as
defined in the Class B Certificate Purchase Agreement.

     (a)   "Class  B  Interest" shall mean, with respect  to  any
Distribution  Date, the sum of (i) interest on the  Class  B  VFC
Principal Balance for the immediately preceding Interest  Accrual
Period  computed pursuant to subsection (b) and,  if  applicable,
subsection  (c), below, plus or minus (as the case may  be)  (ii)
any  Estimated Interest Adjustment with respect to  the  previous
Distribution Date.

     (b)   Interest  shall accrue on the Covered Portion  of  the
Class B VFC Principal Balance during each Interest Accrual Period
at the following rates:

          (i)  Except as otherwise provided in clause (ii), (iii)
     or  (iv)  below, the Conduit Purchaser's Percentage Interest
     of  the  Covered Portion shall bear interest at a  rate  per
     annum  equal to the Commercial Paper Rate from time to  time
     in effect.

          (ii)       If  and to the extent that, and for so  long
     as, a Conduit Purchaser at any time determines in good faith
     that  it  is  unable to raise or is precluded or  prohibited
     from  raising, or that it is not advisable to  raise,  funds
     through  the  issuance  of Commercial  Paper  Notes  in  the
     commercial paper market of the United States to finance  its
     purchase  or maintenance of its Percentage Interest  of  the
     Covered  Portion or any portion thereof (which determination
     may be based on any allocation method employed in good faith
     by  the  Conduit Purchaser), including by reason  of  market
     conditions  or by reason of insufficient availability  under
     any  of its Support Facilities or the downgrading of any  of
     its Support Parties,  except as otherwise provided in clause
     (iv)   below,  such  portion  of  such  Conduit  Purchaser's
     Percentage  Interest  of  the  Covered  Portion  shall  bear
     interest  at a rate per annum equal to the Alternative  Rate
     from time to time in effect.

          (iii)      Except as otherwise provided in clause  (iv)
     below,   the  Percentage Interest of the Covered Portion  of
     the  Class  B  VFC Principal Balance held by each  Committed
     Purchaser and Liquidity Purchaser shall bear interest  at  a
     rate  per annum equal to the Alternative Rate from  time  to
     time in effect.

          (iv)  Notwithstanding the provisions  of  clauses  (i),
     (ii)  or  (iii)  above, from and after the occurrence  of  a
     Trust  Pay  Out Event or a Series 1999-1 Pay Out Event,  the
     entire  Covered Portion shall bear interest at  a  rate  per
     annum equal to the Risk Rate from time to time in effect.

     (c)   For each portion of each Interest Accrual Period  with
respect to which there were Unreimbursed Class B Investor Charge-
Offs,  interest shall accrue on the portion of the  Class  B  VFC
Principal Balance equal to the amount of the Unreimbursed Class B
Investor  Charge-Offs at a rate per annum equal to the Risk  Rate
from time to time in effect.

     (d)   The  Agent  for the Class B Owners  shall  notify  the
Servicer  on  each  Certificate Rate Determination  Date  of  the
Commercial Paper Rate, the Alternative Rate and the Risk Rate, as
applicable,  and  the Class B Interest for the  related  Interest
Accrual  Period for its related Purchaser Group substantially  in
the  form  of  Exhibit  B-3A (or such other  form  which  may  be
mutually acceptable to the applicable Agent and the Servicer from
time   to  time).   For  such  purposes,  such  Agent  may   rely
conclusively  on notices from the Conduit Purchasers  as  to  the
interest  rate  or  rates  from time to time  applicable  to  its
Percentage  Interest of the Class B VFC Principal Balance.   Such
notification from an Agent may be based on a Conduit  Purchaser's
estimate  of the Commercial Paper Rate as provided to such  Agent
and  upon estimates of the Class B Interest if the actual  amount
is  not  then known to such Agent.  In any such case, such  Agent
shall  notify the Servicer on or before the following Certificate
Rate  Determination Date of the amount of any  variation  between
the  estimated Class B Interest and the actual Class  B  Interest
for  the  preceding Interest Accrual Period.  The amount  of  any
shortfall in interest based on such variation shall be a positive
"Estimated Interest Adjustment" for such Interest Accrual Period,
and  the  amount  of any overpayment of interest  based  on  such
variation shall be a negative "Estimated Interest Adjustment" for
such  Interest Accrual Period.  Subject to any Estimated Interest
Adjustment, each determination of the Commercial Paper Rate,  the
Alternative Rate, the Risk Rate and the Class B Interest  by  any
Agent   shall   be  conclusive  and  binding  on  the   Class   B
Certificateholders, the Transferor, the Servicer and the  Trustee
in the absence of manifest error.

     (e)   Interest  calculated by reference  to  the  Commercial
Paper  Rate  or  the Class B Adjusted Eurodollar  Rate  shall  be
calculated  on  the basis of a 360-day year for the  actual  days
elapsed.   Any interest calculated by reference to the  Corporate
Base  Rate shall be calculated on the basis of a 365- or  366-day
year, as applicable, for the actual days elapsed.

Definitions

     "Alternative  Rate" shall mean, for each Class B  Purchaser,
(i)  for  any Interest Accrual Period, if such Class B  Purchaser
shall  have  received  at least two London Business  Days  notice
prior  to  the commencement of such Interest Accrual Period  that
the applicable portion of its share of the Covered Portion of the
Class B VFC Principal Balance would bear interest by reference to
the  Class  B Adjusted Eurodollar Rate for such Interest  Accrual
Period, an interest rate per annum equal to the sum of 1.00% plus
Adjusted  Eurodollar Rate for such Interest Accrual  Period,  and
(ii) otherwise, an interest rate per annum equal to the Corporate
Base  Rate  in  effect  from time to time  during  such  Interest
Accrual Period.

     "Class  B  Adjusted Eurodollar Rate" shall mean (i) 5.55520%
for  the initial Interest Accrual Period, and thereafter (ii) for
any  Interest Accrual Period or portion thereof, a rate per annum
(rounded  upwards, if necessary, to the nearest  1/100th  of  1%)
equivalent  to  the  rate determined pursuant  to  the  following
formula:

     Class B Adjusted Eurodollar Rate    =                  LIBOR
                                   Rate
                                   1-LIBOR Reserve Percentage

on  the  first day of such Interest Accrual Period.  For purposes
of  this definition, (a) "LIBOR Rate" shall mean, with respect to
any  Interest  Accrual Period or portion thereof,  the  rate  per
annum  shown  on  page  3750  of the Bridge  Information  Systems
Telerate  screen  or any successor page as the composite  offered
rate  for  London interbank deposits for a period equal  to  such
Interest Accrual Period (or portion) thereof, as shown under  the
heading  "USD" as of 11:00 a.m., London time, two London Business
Days  prior  to  the first day of such Interest  Accrual  Period;
provided that in the event no such rate is shown, the LIBOR  Rate
shall  be  the rate per annum (rounded upwards, if necessary,  to
the  nearest 1/100th of one percent) based on the rates at  which
Dollar  deposits  for  a  period equal to such  Interest  Accrual
Period (or portion thereof) are displayed on page "LIBOR" of  the
Reuters  Monitor Money Rates Service or such other  page  as  may
replace  the  LIBOR  page  on that service  for  the  purpose  of
displaying London interbank offered rates, of major banks  as  of
11:00  a.m., London time, two London Business Days prior  to  the
first  day  of such Interest Accrual Period (it being  understood
that  if  at least two such rates appear on such page,  the  rate
will  be  the arithmetic mean of such displayed rates);  provided
further  that  in  the  event  fewer  than  two  such  rates  are
displayed,  or if no such rate is relevant, the LIBOR Rate  shall
be  the rate per annum equal to the average of the rates at which
deposits  in  Dollars  are  offered by  the  Reference  Banks  at
approximately  11:00 a.m., London time, two London Business  Days
prior  to the first day of such Interest Accrual Period to  prime
banks  in the London interbank market for a period equal to  such
Interest Accrual Period (or portion thereof), it being understood
that if at least two such quotations are provided, the rate shall
be  the  arithmetic mean of such provided rates; provided further
that if fewer than two such rates are provided, the rate shall be
the  arithmetic mean of the rates quoted by major  banks  in  New
York   City,   selected  by  Credit  Suisse  First   Boston,   at
approximately 11:00 a.m., New York City time, on the first day of
such Interest Accrual Period to leading European banks for Dollar
deposits  for a period equal to such Interest Accrual Period  (or
portion thereof); provided further that if the LIBOR Rate is  not
established  for  any such Interest Accrual Period  as  otherwise
provided  above, the LIBOR Rate for such Interest Accrual  Period
shall equal the LIBOR Rate for the immediately preceding Interest
Accrual  Period, (b) "LIBOR Reserve Percentage" shall mean,  with
respect  to  any  Interest Accrual Period or portion  thereof,  a
percentage (expressed as a decimal) equal to the weighted average
of the percentages in effect during such Interest Accrual Period,
as  prescribed  by  the Federal Reserve Board (or  any  successor
thereto)   for   determining  the  maximum  reserve  requirements
applicable to "Eurocurrency liabilities" pursuant to Regulation D
or  any other applicable regulation of the Federal Reserve  Board
(or  any successor thereto) which prescribes reserve requirements
applicable to "Eurocurrency liabilities" as currently defined  in
Regulation D, and (c) "Reference Banks" shall mean the  principal
London offices of Credit Suisse First Boston and two other  major
banks  in  the  London interbank market selected by the  Servicer
with  the  consent  of the Agents under the Class  B  Certificate
Purchase Agreement.

     "Commercial  Paper Notes" shall mean, with  respect  to  the
Conduit Purchaser, the short-term promissory notes issued by  the
Conduit Purchaser which are allocated by the Conduit Purchaser as
its  funding  for  its Percentage Interest of  the  Class  B  VFC
Principal Balance.

     "Commercial Paper Rate" shall mean, (a) for any day  to  the
extent the Conduit Purchaser funds its Percentage Interest of the
Class  B  VFC  Principal  Balance on such  day  with  outstanding
Commercial Paper Notes, the sum of (i) the rate (or if more  than
one  rate, the weighted average of the rates) per annum at  which
such  Commercial Paper Notes were sold by any placement agent  or
commercial  paper dealer selected by or on behalf of the  Conduit
Purchaser,  as agreed between each such agent or dealer  and  the
Conduit  Purchaser; provided that if any rate as  agreed  between
any  such agent or dealer and the Conduit Purchaser is a discount
rate, then such rate shall be the rate (or if more than one rate,
the weighted average of the rates) resulting from converting such
discount  rate (or rates) to an interest-bearing equivalent  rate
per annum, plus (ii) dealer commissions (computed at the rate  of
0.05%  on  a  discount basis, or such higher rate as  has  become
customary  and usual in the commercial paper industry), placement
agent  fees  and commissions and Commercial Paper  Note  issuance
costs,  expressed  as  an  annualized  rate  in  respect  of  the
principal  component  of  such Commercial  Paper  Notes,  or  (b)
otherwise,  for any day, the Alternative Rate for the  applicable
Interest Accrual Period.

     "Committed  Purchaser" shall have the meaning  specified  in
the Class B Certificate Purchase Agreement.

     "Conduit Purchaser" shall have the meaning specified in  the
Class B Certificate Purchase Agreement.

     "Corporate Base Rate" shall mean, for any day, the higher of
(i)  the  base  commercial lending rate per annum announced  from
time  to time by Credit Suisse First Boston in New York in effect
on such day, or (ii) the interest rate per annum quoted by Credit
Suisse  First Boston at approximately 11:00 a.m., New  York  City
time,  on  such  day,  to dealers in the New York  Federal  funds
market  for  the overnight offering of Dollars by  Credit  Suisse
First  Boston  plus  one-half  of  one  percent  (0.50%).    (The
Corporate Base Rate is not intended to represent the lowest  rate
charged by Credit Suisse First Boston for extensions of credit.)

     "Covered  Portion" shall mean, with respect to the  Class  B
VFC  Principal Balance, a portion thereof equal to  the  Class  B
Invested Amount.

     "Liquidity  Purchaser" shall have the meaning  specified  in
the Class B Certificate Purchase Agreement.

     "London Business Day" shall mean any Business Day other than
a day on which banking institutions in London, England trading in
Dollar deposits in the London interbank market are authorized  or
obligated by law or executive order to be closed.

     "Percentage Interest", with respect to a Class B  Purchaser,
shall  be  determined in accordance with the Class B  Certificate
Purchase Agreement.

     "Risk Rate" shall mean 2.00% in excess of the Corporate Base
Rate in effect from time to time.

                                                     Exhibit B-3A

          SRI RECEIVABLES MASTER TRUST, SERIES 1999-1

Interest Accrual Period: __________, ____ to __________, ____
Transfer Date:      __________, ____
Distribution Date:       __________, ____
Purchaser Group:         _________________________________

I.   Class B VFC Principal Balance (for Purchaser Group)

     1.   Covered Portion of the Class B Principal
          Balance (as set forth in Daily Report)      $__________
     2.   Unreimbursed Class B Charge-Offs  Portion  of
          the  Class  B VFC Principal Balance  (as  set
          forth in Daily Report)                      $__________
     3.   Total  Class  B  VFC  Principal  Balance  for
          Purchaser Group (1+2)                       $__________

II.  Computation of Class B Interest

                             A.    B. Portion of     C. Interest
                            Rat     Class B VFC        Amount
                             e   Principal Balance
     1  Commercial Paper          __%   $__________  $__________
     .  Rate
     2  LIBOR Rate                __%
     .
        Class B Adjusted          __%
        Eurodollar Rate
        Corporate Base            __%
        Rate
             Alternative          __%   $__________  $__________
        Rate
     3  Risk Rate                 __%   $__________  $__________
     .
     4  Total Interest                               $__________
     .  (sum of items 1C,
        2C and 3C)

III. Computation of Class B Interest for Purchaser Group:

     1.   Interest on Class B VFC Principal Balance
          (item II.4C)                                $__________
     2.    Estimated  Interest Adjustment  (if  any)  from  prior
Monthly Period                                        $__________
     3.   Class B Interest (sum of items 1 and 2)     $__________

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