8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 22, 2004

BANC ONE HELOC TRUST 1999-1

(Exact name of registrant as specified in its charter)

Laws of the United States	333-59845-01	36-7282500
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

C/O Bank One, National Association Corporate Trust Division 1 N. State Street 9^th Floor            Chicago, IL 60670  

(Address of principal executive offices) (Zip Code)

312-336-9730

Registrant’s telephone number, including area code

N/A

(Former name, former address and former fiscal year, if changed since last report)

Item 5.    Other Events

On behalf of Banc One HELOC Trust 1999-1, a Trust created pursuant to the Pooling Agreement, dated May 31, 1999, the Paying Agent has caused to be filed with the Commision, the Monthly Report dated March 22, 2004. The Monthly Report is filed pursuant to and in accordance with (1) numerous no-action letters (2) current Commission policy in the area. The filing of the Monthly Report will occur subsequent to each monthly distribution to the holders of the Trust’s Investor Certificates.

A. Monthly Report Information: Aggregate distribution information for the current distribution information for the current distribution date March 22, 2004.

	Principal	Interest	Ending Balance
Cede & Co.	$2,334,414.98	$134,453.66	$126,921,358.00

B. No delinquency in payment under the Transferor Certificate, or the MBIA Insurnace Policy has occurred.

C. Have any deficiencies occurred?  No.  Date:  Amount:

D. Were any amounts paid or are any amounts payable under MBIA Insurance Policy?    NO Amount:

E. Are there any developments with respect to the MBIA Insurance Policy?    NONE.

F. Item 1: Legal Proceedings:  NONE

G. Item 2: Changes in Securities:  NONE

H. Item 4: Submission of Matters to a vote of Security Holders:  NONE

I. Item 5: Other Information-Items 1, 2, 4, 5 if applicable:  NOT APPLICABLE

Item 7.    Financial Statements and Exhibits.

The following exhibits are filed as a part of this report:

Exhibit	Description
No. 1	Monthly Statement to Certificateholders dated March 22, 2004

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

BANC ONE HELOC TRUST 1999-1
By:	/s/    Philip C. McNiel
	Name:  Philip C. McNiel
	Title:    Vice President

Date: March 22, 2004

EX-1

Exhibit 1

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 1
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

CERTIFICATES INFORMATION
	BALANCE		MARGIN
Investors	$500,000,000.00		0.26	%
Transferor	$10,205,197.95		0.00	%
OTHER INFORMATION
Original Pool Balance @ Cut-Off Date	$510,205,197.95
Servicing Fee	0.500	%
Original Settlement Date	6/23/99
First Payment Date	7/20/99
Short Interest Period Days	27
Managed Amortization Period (Months)	60
Required Credit Enhancement Amount Percentage	1.75	%
Required Credit Enhancement Amount	$8,750,000.00
Spread Account Maximum ( % of Invested Amount)	0.25	%
Spread Account Maximum	1,250,000.00
Spread Account Floor ( % of Original Balance)	0.00	%
Spread Account Step-Up 9+ Mths Delinquent Percentage	0.00	%
Initial Insured Amount	$500,000,000.00
Fixed Allocation Percentage	98.00	%
Minimum Transferor Interest Percentage	5.00	%
Credit Enhancement Fee	0.110	%
Rapid Amortization Event Trigger (% of Original Pool Balance)	1.000	%
Tail Adjustment	$0.00

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 2
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

INPUT SECTION (PAGE 1 of 1)
MONTH:	57
DISTRIBUTION DATE:	3/22/04
DETERMINATION DATE:	3/17/04
	31
MORTGAGE LOANS PAYMENT SUMMARY
COLLECTION PERIOD:
MTGE LOANS INTEREST RECEIVED	$522,623.76
MTGE LOANS PRINCIPAL RECEIVED	$4,438,719.91
MTGE LOANS NET LIQUIDATION PROCEEDS (ALLOC. TO INTEREST)	$36,724.87
MTGE LOANS NET LIQUIDATION PROCEEDS (NET OF FORECL. PROFIT & ALLOC. TO PRINCIPAL)	$0.00
MTGE LOANS INSURANCE PROCEEDS (ALLOC. TO INTEREST)	$0.00
MTGE LOANS INSURANCE PROCEEDS (ALLOC. TO PRINCIPAL)	$0.00
MTGE LOANS SERVICER OPTIONAL ADVANCES (ALLOC. TO INTEREST)	$0.00
MTGE LOANS PURCHASE PRICE (ALLOC. TO INTEREST)	$0.00
MTGE LOANS PURCHASE PRICE (ALLOC. TO PRINCIPAL)	$0.00
MTGE LOANS TRANSFER DEPOSIT AMOUNT (ALLOC. TO PRINCIPAL)	$0.00
MTGE LOANS DRAWS (ADDITIONAL BALANCES)	$2,125,877.06
MTGE LOANS LIQUIDATION LOSS AMOUNT	$108,284.78
MTGE LOANS TOTAL ENDING PRINCIPAL BALANCE	$126,921,358.00
AVERAGE MTGE LOANS RATE	4.77474	%
DELINQUENCY & REO SUMMARY
DEL STAT 1 – NO. OF ACCTS	62
DEL STAT 1 – CURRENT BALANCE	$1,648,563.24
DEL STAT 2 – NO. OF ACCTS	25
DEL STAT 2 – CURRENT BALANCE	$624,909.79
DEL STAT 1+ – NO. OF ACCTS	159
DEL STAT 1+ – CURRENT BALANCE	$5,268,041.96
DEL STAT 3+ – NO. OF ACCTS	72
DEL STAT 3+ – CURRENT BALANCE	$2,994,568.93
REO – NO. OF ACCTS	0
REO – CURRENT BOOK BALANCE (UNPAID PRINC. BALANCE)	$0.00
LOAN MODIFICATION SUMMARY
é TOTAL CLTV OF OUTSTANDING POOL BALANCE FOR THIS COLLECTION PERIOD.	74.7600	%
CUT-OFF DATE WEIGHTED AVERAGE GROSS MARGIN (NOT AN INPUT FIELD)	1.250	%
RECALCULATED WEIGHTED AVERAGE GROSS MARGIN	0.775	%
MAXIMUM AMOUNT OF MARGIN MODIFICATIONS EXECUTED? (NOT AN INPUT FIELD)	NO
OTHER INFORMATION
LIBOR RATE FOR CURRENT INTEREST PERIOD	1.09125	%
INTEREST DEPOSIT INTO SPREAD ACCOUNT (REINVESTMENT)	$0
é AMOUNT OWED TO CREDIT ENHANCER DUE TO PREPAYMENT SHORTFALL	$0
SURETY BOND IN FORCE ? (YES=1; NO=0)	1

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 3
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Detailed Information (Page 1 of 5)
Distribution Date:	3/22/04
LIBOR Rate (Adjusted two business days prior to previous Distribution Date)	1.09125	%
Average Mtge Loans Net Loan Rate (Effective Rate; Multiply by 360/365)	4.09933	%
Maximum Rate	4.09933	%
Investor Certificate Rate (LIBOR + 26 bps)	1.35125	%
Investor Certificate Rate Capped at Maximum Rate? (Y=1; N=0)	0
Interest Period (Days)	31
Beginning Pool Balance	129,342,485.63
Beginning Investor Certificate Principal Balance	115,552,070.99
Beginning Transferor Principal Balance	9,908,820.52
Beginning Invested Amount	119,433,665.11
Investor Floating Allocation Percentage	92.3391	%
Liquidation Loss Amount	108,284.78
Servicing Fee	53,892.70
Mtge Loans Interest (Net of Cut-Off Date Overdue Interest)	522,623.76
Mtge Loans Principal	4,438,719.91
Mtge Loans Net Liquidation Proceeds	36,724.87
Mtge Loans Insurance Proceeds	0.00
Mtge Loans Optional Servicer Advances	0.00
Mtge Loans Purchase Price	0.00
Mtge Loans Transfer Deposit Amount	0.00
Available Funds	4,998,068.54
Mtge Loans Interest	522,623.76
Mtge Loans Net Liquidations Proceeds (Alloc. to Int.)	36,724.87
Mtge Loans Insurance Proceeds (Alloc. to Int.)	0.00
Mtge Loans Optional Servicer Advances (Alloc. to Int.)	0.00
Mtge Loans Purchase Price (Alloc. to Int.)	0.00
Mtge Loans Interest Collections	559,348.63
Mtge Loans Principal	4,438,719.91
Mtge Loans Net Liquidation Proceeds (Alloc. to Princ. & Net of Forecl. Profits)	0.00
Mtge Loans Insurance Proceeds (Alloc. to Princ.)	0.00
Mtge Loans Purchase Price (Alloc. to Princ.)	0.00
Mtge Loans Transfer Deposit Amount	0.00
Mtge Loans Principal Collections	4,438,719.91
Interest Collections	559,348.63
Principal Collections	4,438,719.91
Investor & Transferor Interest & Principal Allocation
Investor Interest Collections	516,497.40
Investor Principal Collections	4,349,935.99
Transferor Interest Collections	42,851.23
Transferor Principal Collections	88,783.92
(Check)	0.00
Investor Loss Amount	99,989.17
Transferor Loss Amount	8,295.61

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 4
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Detailed Information (Page 2 of 5)
Distribution Date:	3/22/04
Investor Interest Collections	516,497.40
less Investor Servicing Fee	49,764.03
less Unpaid Servicing Fee	0.00
less Investor Certificate Interest	134,453.66
less Unpaid Investor Certificate Interest Shortfall	0.00
less Credit Enhancement Premium	10,592.27
less Investor Loss Amount	99,989.17
less Unpaid Investor Loss Amount	0.00
less Unreimbursed Draw Amounts	0.00
Excess Interest	221,698.26
less Accelerated Principal Distribution Amount	(78,417.04	)
less Deposit to (Release from) Spread Account	(6,032.08	)
Remaining Excess Interest	306,147.38
Investor Distributions
Investor Certificate Interest	134,453.66
Managed Amortization Period? (Y=1, N=0)	1
Rapid Amortization Period? (Y=1, N=0)	0
Principal Collections less Additional Balances	2,312,842.85
Alternative Principal Payment	2,312,842.85
Maximum Principal Collections	4,349,935.99
Principal Distribution Amount	2,312,842.85
Investor Loss Amount Distributed to Investors	99,989.17
Excess Interest Paid as Principal	(78,417.04	)
Transferor Distributions
Transferor Interest Collections (net of Transferor Servicing Fee)	38,722.56
Funds Released from Spread Account	0.00
Principal Distributions (including Transferor Principal Collections)	2,125,877.06
Excess Int. (Shortfall) a/ Interest	382,043.73
Excess Int. (Shortfall) a/ Premium b/ Losses	371,451.46
Excess Int. (Shortfall) a/ Losses	271,462.29
Required Amount	0.00
Required Amount Applied to Overcollateralization Amount	0.00
Draw on Policy	0.00
Investor Certificate Distribution Amount (Excluding Credit Enhancement Draw Amount)	2,468,868.64
Credit Enhancement Draw Amount	0.00
Guaranteed Principal Distribution Amount	0.00
Guaranteed Amount	0.00

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 5
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Detailed Information (Page 3 of 5)
Distribution Date:	3/22/04
Beginning Pool Balance	129,342,485.63
Interest Distribution	559,348.63
Principal Distribution	4,438,719.91
Additional Balances	2,125,877.06
Liquidation Loss Amount	108,284.78
Ending Pool Balance	126,921,358.00
Beginning Investor Certificate Principal Balance	115,552,070.99
Investor Certificate Interest	134,453.66
Unpaid Investor Certificate Interest Shortfall distributed	0.00
Investor Certificate Principal	2,334,414.98
Ending Investor Certificate Principal Balance	113,217,656.01
Pool Factor	0.2264353
Beginning Transferor Balance	9,908,820.52
Interest Distribution (including funds released from Spread Account)	42,851.23
Principal Distribution (including Unallocated Transferor Principal Collections)	2,125,877.06
Additional Balances	2,125,877.06
Losses allocated to Transferor	8,295.61
Ending Transferor Balance	9,900,524.91
Minimum Transferor Interest	6,346,067.90
Transferor Principal Collections Unallocated due to Minimum Transferor Interest (held in Coll. Acct.)	0.00
Total Unallocated Transferor Principal Collections held in Collection Account	0.00
Beginning Invested Amount	119,433,665.11
Principal Distribution Amount	2,312,842.85
Investor Loss Reduction Amount	99,989.17
Ending Invested Amount	117,020,833.09
Beginning Total OC Amount	3,881,594.12
Ending Total OC Amount	3,803,177.08
Ending Total OC Amount (% of Original Invested Amount)	0.76	%
Spread Account Cap Amount	292,552.08
Beginning Spread Account Balance	298,584.16
Draw from Account to Pay Credit Enhancer	0.00
Deposit to (Release from)	(6,032.08	)
Ending Spread Account Balance	292,552.08
Ending Spread Account Balance (% of Ending Invested Amount)	0.25	%
Unreimbursed Draw on Surety Bond	0.00

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 6
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Detailed Information (Page 4 of 5)
Distribution Date:		3/22/04
Beginning Insured Principal Amount	$	115,552,070.99
Ending Insured Principal Amount	$	113,217,656.01
Available Credit Enhancement		0.80	%
Investor Distribution Amount		2,468,868.64
Transferor Distribution Amount (incl. Excess Cash Rel. From SA)		2,164,599.62
Investor Loss Amount Reimbursed from Excess Interest		99,989.17
Investor Loss Amount Reimbursed from Policy Draw		0.00
Investor Loss Amount Allocated to OC		0.00
Investor Loss Amount Unreimbursed		0.00
Unreimbursed Loss Amount Distributed		0.00
Cum. Accelerated Principal Distribution Amount		3,803,177.08
Cum. Principal Payments (Including ECPB & APDA)		386,782,343.99
Cum. Principal Payments (Excluding ECPB & APDA)		383,057,583.95
Cum. OC Amount		3,803,177.08
Cum. SA Deposits		292,552.08
Cum. Liquidation Losses		7,644,619.64
Cum. Investor Loss Reduction Amount		0.00
Cum. Purchase Price of Repurchased Loans (Alloc. to Principal)		0.00
Cum. Guaranteed Principal Distribution Amount		0.00
Cum. Credit Enhancement Draw Amount		0.00
Cum. Change in Weighted Average Gross Margin (Cut-Off Margin-Current Margin)		0.475	%
Accrued but Unpaid a/ Distribution
Servicing Fee		0.00
Investor Certificate Interest		0.00
Credit Enhancement Premium		0.00
Unreimbursed Draw Amounts		0.00

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 7
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Detailed Information (Page 5 of 5)
Distribution Date:	3/22/04
SOURCES OF FUNDS:
Mtge Loans Interest	522,623.76
Mtge Loans Net Liq. Proceeds (Alloc. to Int. & Incl. Rec. Charge-Offs)	36,724.87
Mtge Loans Insurance Proceeds (Alloc. to Int.)	0.00
Mtge Loans Purchase Price (Alloc. to Int.)	0.00
Mtge Loans Principal	4,438,719.91
Mtge Loans Net Liq. Proceeds (Alloc. to Princ.)	0.00
Mtge Loans Insurance Proceeds (Alloc. to Princ.)	0.00
Mtge Loans Purchase Price (Alloc. to Princ.)	0.00
Mtge Loans Transfer Deposit Amount	0.00
Reinvestment Earnings	0.00
Draw on Policy	0.00
Total	4,998,068.54
USES OF FUNDS
Servicing Fee	53,892.70
Investor Interest Distribution	134,453.66
Accrued and Unpaid Investor Interest Distributed	0.00
Investor Principal Distribution	2,334,414.98
Transferor Distribution (not including Cash Released to Transferor)	2,164,599.62
Unallocated Transferor Principal Collections	0.00
Accrued and Unpaid Servicing Fee Distributed	0.00
Credit Enhancement Premium Distributed	10,592.27
Cash Deposited to (Released from) Spread Account	(6,032.08	)
Cash Released to Transferor	306,147.38
Total	4,998,068.54
PERFORMANCE PARAMETERS
Aggregate Amount of Locked Balances	1,157,073.90
Aggregate Amount of Locked Balances – %	0.912	%
Portfolio CLTV as of the End of the Collection Period	74.760	%
Amount of Pool Balance Offered the “Skip-a-Pay Program”	0.00
Percentage of Pool Balance Offered the “Skip-a-Pay Program”	0.00	%
Number of Accounts Accepting the “Skip-a-Pay Program”	0
Aggregate Principal Balance of Accounts Accepting the “Skip-a-Pay Program”	0.00
ERROR CHECK
Sources & Uses	OK
Pool Balance	OK
Transferor Balance	OK
Loss Allocation	OK
Overcollateralization	OK
Balance Reduction	OK
Distribution List:
Keith Richardson – Bank One, N.A.

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 8
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Servicer Certificate (Page 1 of 3)
Distribution Date:		3/22/04
A.	POOL INFORMATION
	Aggregate Amount of Collections	4,998,068.54
	Aggregate Amount of Interest Collections	559,348.63
	Aggregate Amount of Principal Collections	4,438,719.91
	Transfer Deposit Amount	0.00
	Beginning Pool Balance	129,342,485.63
	Ending Pool Balance	126,921,358.00
	Additional Balances	2,125,877.06
	Cum. Modifications to Credit Limits ($ of Initial Credit Limits)	$0.00
	Cum. Modifications to Credit Limit (% of Initial Credit Limits)	0.00	%
	Cum. Change in Weighted Average Gross Margin (Cut-Off Margin-Current Margin)	0.475	%
	Servicing Fee	53,892.70
	Unpaid Servicing Fee Received	0.00
	Remaining Accrued and Unpaid Servicing Fee	0.00
B.	INTEREST, PRINCIPAL & LOSS ALLOCATION
	Investor Certificateholder Floating Allocation Percentage	92.34	%
	Investor Certificateholder Fixed Allocation Percentage	98.00	%
	Investor Interest Collections	516,497.40
	Investor Principal Collections	4,349,935.99
	Transferor Interest Collections	42,851.23
	Transferor Principal Collections	88,783.92
	Investor Loss Amount	99,989.17
	Beginning Invested Amount	119,433,665.11
	Ending Invested Amount	117,020,833.09
C.	INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
	Investor Certificate Interest Distributed	134,453.66
	Investor Certificate Interest Shortfall b/ any Draw on Policy	0.00
	Unpaid Investor Certificate Interest Shortfall Received	0.00
	Unpaid Investor Certificate Interest Shortfall Remaining	0.00
	Principal Distribution Amount	2,312,842.85
	Managed Amortization Period? (Yes=1; No=0)	1
	Rapid Amortization Period? (Yes=1; No=0)	0
	Maximum Principal Collections Payment	4,349,935.99
	Alternative Principal Payment	2,312,842.85
	Principal Collections less Additional Balances	2,312,842.85
	Investor Loss Amount Distributed to Investors	99,989.17
	Accelerated Principal Distribution Amount	(78,417.04	)
D.	INVESTOR CERTIFICATE PRINCIPAL BALANCE
	Beginning Certificate Principal Balance	115,552,070.99
	Ending Certificate Principal Balance	113,217,656.01
	Pool Factor	0.2264353

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 9
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Servicer Certificate (Page 2 of 3)
Distribution Date:		3/22/04
E.	DISTRIBUTIONS TO TRANSFEROR
	Interest Distribution	42,851.23
	Principal Distribution	2,125,877.06
	Amount Distributed to Transferor	0.00
F.	TRANSFEROR BALANCE
	Beginning Transferor Principal Balance	9,908,820.52
	Ending Transferor Principal Balance	9,900,524.91
	Minimum Transferor Balance	6,346,067.90
G.	INVESTOR CERTIFICATE RATE
	Investor Certificate Rate	1.35125	%
	LIBOR Rate	1.09125	%
	Maximum Rate	4.09933	%
	Weighted Average Mortgage Net Loan Rate	4.09933	%
H.	CREDIT ENHANCEMENT
	Credit Enhancement Fee	10,592.27
	Guaranteed Amount	0.00
	Guaranteed Principal Distribution Amount	0.00
	Credit Enhancement Draw Amount	0.00
I.	SPREAD ACCOUNT
	Beginning Spread Account Balance	298,584.16
	Ending Spread Account Balance	292,552.08
	Amount to be distributed to (Released from) the Spread Account	(6,032.08	)
	Spread Account Maximum	292,552.08
J.	DELINQUENCY & REO STATUS
	Delinquent 30-59 days
	No. of Accounts	62
	Trust Balances	1,648,563.24
	Delinquent 60-89 days
	No. of Accounts	25
	Trust Balances	624,909.79
	Delinquent 90+ days
	No. of Accounts	72
	Trust Balances	2,994,568.93
	Delinquent 9+ months
	No. of Accounts	0
	Trust Balances	0.00
	REO
	No. of Accounts	0
	Trust Balances	0.00

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 10
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Servicer Certificate (Page 3 of 3)
Distribution Date:		3/22/04
K.	EVENT OF DEFAULT TRIGGERS	0
	Failure by Seller to make payment within 5 Business Days of Required Date ?	0
	Failure by Seller to perform any covenants described in the Agreement ?	0
	Bankruptcy or Insolvency relating to Servicer ?	0
L.	RAPID AMORTIZATION EVENT TRIGGERS	0
	Failure by Seller to make payment within 3 Business Days of Required Date ?	0
	Breach of Representation or Warranty by Seller or Depositor?	0
	Bankruptcy or Insolvency relating to Transferor ?	0
	Subject to Investment Company Act of 1940 Regulation ?	0
	Any Event of Default ?	0
	Draws Under Policy are Greater than 1% of Initial Pool Principal Balance?	0

IN WITNESS WHEREOF, the undersigned has caused this Certificate to be duly executed and certifies to the best of his knowledge and belief that information is true and correct this 17th day of March 2004

Bank One, N.A.

as Servicer

/s/    Philip C. McNiel        

Philip C. McNiel

Vice President

Distribution List:

MBIA

Keith Richardson – JPMorgan Chase Bank

Moody’s Investors Service

Standard & Poor’s Corp.

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 11
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Statement to Certificateholders (Page 1 of 2)
Distribution Date:		3/22/04
	INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000 ORIGINAL PRINCIPAL AMOUNT)
A.	INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
	Investor Certificate Interest Distributed	0.268907
	Investor Certificate Interest Shortfall Distributed	0.000000
	Remaining Unpaid Investor Certificate Interest Shortfall	0.000000
	Managed Amortization Period ? (Yes=1; No=0)	1
	Investors Certificate Principal Distributed	4.668830
	Principal Distribution Amount	4.625686
	Maximum Principal Payment	8.699872
	Alternative Principal Payment	4.625686
	Principal Collections less Additional Balances	4.625686
	Investor Loss Amount Distributed to Investors	0.199978
	Accelerated Principal Distribution Amount	-0.156834
	Credit Enhancement Draw Amount	0.00
	Total Amount Distributed to Certificateholders (P & I)	4.937737
B.	INVESTOR CERTIFICATE PRINCIPAL BALANCE
	Beginning Investor Certificate Balance	115,552,070.99
	Ending Investor Certificate Balance	113,217,656.01
	Beginning Invested Amount	119,433,665.11
	Ending Invested Amount	117,020,833.09
	Investor Certificateholder Floating Allocation Percentage	92.3391	%
	Pool Factor	0.2264353
	Liquidation Loss Amount for Liquidated Loans	108,284.78
	Unreimbursed Liquidation Loss Amount	0.00
C.	POOL INFORMATION
	Beginning Pool Balance	129,342,485.63
	Ending Pool Balance	126,921,358.00
	Servicing Fee	53,892.70
D.	INVESTOR CERTIFICATE RATE
	Investor Certificate Rate	1.351250	%
	LIBOR Rate	1.091250	%
	Maximum Rate	4.099332	%
E.	DELINQUENCY & REO STATUS
	Delinquent 30-59 days
	No. of Accounts	62
	Trust Balances	1,648,563.24
	Delinquent 60-89 days
	No. of Accounts	25
	Trust Balances	624,909.79
	Delinquent 90+ days
	No. of Accounts	72
	Trust Balances	2,994,568.93
	Delinquent 9+ Months
	No. of Accounts	0
	Trust Balances	0
	REO
	No. of Accounts	0
	Trust Balances	0.00

ABS Corporation
Banc One Home Equity Loan Trust 1999-1		Page 12
P & S Agreement Date:	May 31, 1999
Original Settlement Date:	June 23, 1999
Series Number of Certificates:
Original Collateral Sale Balance	$510,205,197.95

Statement to Certificateholders (Page 2 of 2)
Distribution Date:	3/22/04

IN WITNESS WHEREOF, the undersigned has caused this Certificate to be duly executed and certifies to the best of his knowledge and belief that information is true and correct this 17th day of March 2004

Bank One, N.A.

as Servicer

/s/    Philip C. McNiel        

Philip C. McNiel

Vice President

Distribution List:

Keith Richardson – Bank One, N.A.