Sept. 19, 2006 -- U.S. Bank Trust National Association, as Trustee, under the Standard Terms for Trust Agreements dated as of January 16, 2001, as supplemented by the Series Supplement dated as of June 8, 2001, as amended in respect of the Corporate Backed Trust Certificates, Series 2001-24 Trust with Lehman ABS Corporation, as depositor, received notice that the call warrant holder has exercised its right to purchase the assets of the Trust on September 22, 2006. THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE TRUSTEE OF THE WARRANT EXERCISE CALL PRICE WITH RESPECT TO SUCH EXERCISE ON THE REDEMPTION DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS WILL IN FACT BE EXERCISED ON THE REDEMPTION DATE. If the Trustee receives the call price by 10:00 a.m. (New York City time) on the Redemption Date, then the certificates issued by the Trust will be redeemed in full on the Redemption Date at a price of $25 principal plus $0.49678819 accrued interest per Class A-1 Certificate and $90.12706520 interest per $1,000 stated notional amount Class A-2 Certificate (the "Call Price"). The Class A-2 Certificates are interest-only certificates and will not receive payment of principal. No interest will accrue on the Certificates after the Redemption Date. If the Trustee does not receive the Call Price, then (i) the Certificates issued by the Trust will continue to accrue interest as if no exercise notice had been given and (ii) the call warrant holder may elect to deliver a conditional notice of exercise in the future. This press release is being issued by U.S. Bank Trust National Association as trustee of the Trust. For more information about this conditional redemption, please contact David J. Kolibachuk of U.S. Bank Trust National Association at 212-361-2459. __________ The initial interest rate is 7.375% per annum. In the event of a ratings change which causes the Underlying Securities Issuer to be rated below the single A category by both Moody's and S&P (below "A3" for Moody's and below "A-" for S&P), then, beginning on the first interest payment date after the rating downgrade occurs, the interest rate on the Class A-1 Certificates will be 7.875%. If, subsequent to any such rating downgrade, a rating change by S&P and/or Moody's occurs which causes the ratings of the Underlying Securities Issuer to be above the triple B category (above "Baa1" for Moody's and above "BBB+" for S&P), then, beginning on the first interest payment date after such change, the interest rate on the Class A-1 Certificates will be 7.375%.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Lehman ABS Corp., 7.375% Corporate Backed Trust Certificates, Series 2001-24, Class A-1, price to the public $25. Underlying securities are the 8.25% U.S. Dollar Notes due 6/15/2030 issued by Deutsche Telekom Intl Finance B.V., a wholly-owned subsidiary of Deutsche Telekom AG (NYSE: DT). The certificates pay 7.375% per annum distributions semiannually on 6/15 & 12/15 to holders of record one day prior to the payment date. Certificates are callable at the option of the call warrant holder on or after 6/08/2006 at $25 per certificate plus accrued and unpaid interest. Certificate ratings at the IPO were A2 by S&P and A-/Watch Negative by Moody's. Lehman ABS Corp. is an indirect wholly-owned subsidiary of Lehman Brothers Inc. (NYSE: LEH). For further information on the Corporate Backed Trust Certificates, see the IPO Prospectus by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	7.38% $1.84375	$25.00 $25.00	Called for 9/22/2006 6/15/2030	A3 A- 2/21/2006	6/15 & 12/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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HOME PAGE:     http://www.lehman.com/ (This parent company URL is for reference only and does not have specific information on the security.)

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Address:   200 Vesey Street, 24th Floor, New York, NY 10285
Main Phone Number	212-526-7000
Fax Number	212-526-3738
Toll Free Phone Number	800-666-2388