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) August 20, 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		60670
1 N. State Street 9th Floor	Chicago, IL
(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 Commission, the Monthly Report dated August 20, 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 August 20, 2004.

	Principal		Interest		Ending Balance
Cede & Co.	$	4,630,607.91	$	143,449.96	$	111,885,404.51

B. No delinquency in payment under the Transferor Certificate, or the MBIA Insurance 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 August 20, 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: August 20, 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:	62
DISTRIBUTION DATE:	8/20/04
DETERMINATION DATE:	8/17/04
	31
MORTGAGE LOANS PAYMENT SUMMARY
COLLECTION PERIOD:
MTGE LOANS INTEREST RECEIVED	$454,789.47
MTGE LOANS PRINCIPAL RECEIVED	$4,639,382.18
MTGE LOANS NET LIQUIDATION PROCEEDS (ALLOC. TO INTEREST)	$24,267.16
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)	$2,146,633.04
MTGE LOANS LIQUIDATION LOSS AMOUNT	$267,989.12
MTGE LOANS TOTAL ENDING PRINCIPAL BALANCE	$111,885,404.51
AVERAGE MTGE LOANS RATE	4.75041	%
DELINQUENCY & REO SUMMARY
DEL STAT 1 - NO. OF ACCTS	44
DEL STAT 1 - CURRENT BALANCE	$1,173,245.24
DEL STAT 2 - NO. OF ACCTS	23
DEL STAT 2 - CURRENT BALANCE	$611,623.44
DEL STAT 1+ - NO. OF ACCTS	117
DEL STAT 1+ - CURRENT BALANCE	$3,378,767.53
DEL STAT 3+ - NO. OF ACCTS	50
DEL STAT 3+ - CURRENT BALANCE	$1,593,898.85
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.	74.4853	%
CUT-OFF DATE WEIGHTED AVERAGE GROSS MARGIN (NOT AN INPUT FIELD)	1.250	%
RECALCULATED WEIGHTED AVERAGE GROSS MARGIN	0.750	%
MAXIMUM AMOUNT OF MARGIN MODIFICATIONS EXECUTED? (NOT AN INPUT FIELD)	NO
OTHER INFORMATION
LIBOR RATE FOR CURRENT INTEREST PERIOD	1.42000	%
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:	8/20/04
LIBOR Rate (Adjusted two business days prior to previous Distribution Date)	1.42000	%
Average Mtge Loans Net Loan Rate (Effective Rate; Multiply by 360/365)	4.07534	%
Maximum Rate	4.07534	%
Investor Certificate Rate (LIBOR + 26 bps)	1.68000	%
Investor Certificate Rate Capped at Maximum Rate? (Y=1; N=0)
Interest Period (Days)	31
Beginning Pool Balance	114,646,142.77
Beginning Investor Certificate Principal Balance	99,158,959.10
Beginning Transferor Principal Balance	12,156,262.56
Beginning Invested Amount	102,489,880.21
Investor Floating Allocation Percentage	89.3967	%
Liquidation Loss Amount	267,989.12
Servicing Fee	47,769.23
Mtge Loans Interest (Net of Cut-Off Date Overdue Interest)	454,789.47
Mtge Loans Principal	4,639,382.18
Mtge Loans Net Liquidation Proceeds	24,267.16
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	5,118,438.81
Mtge Loans Interest	454,789.47
Mtge Loans Net Liquidations Proceeds (Alloc. to Int.)	24,267.16
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	479,056.63
Mtge Loans Principal	4,639,382.18
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	4,639,382.18
Interest Collections	479,056.63
Principal Collections	4,639,382.18
Investor & Transferor Interest & Principal Allocation
Investor Interest Collections	428,260.87
Investor Principal Collections	4,546,584.59
Transferor Interest Collections	50,795.76
Transferor Principal Collections	92,797.59
(Check)	0.00
Investor Loss Amount	239,573.46
Transferor Loss Amount	28,415.66

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:	8/20/04
Investor Interest Collections	428,260.87
less Investor Servicing Fee	42,704.12
less Unpaid Servicing Fee	0.00
less Investor Certificate Interest	143,449.96
less Unpaid Investor Certificate Interest Shortfall	0.00
less Credit Enhancement Premium	9,089.57
less Investor Loss Amount	239,573.46
less Unpaid Investor Loss Amount	0.00
less Unreimbursed Draw Amounts	0.00
Excess Interest	0.00
less Accelerated Principal Distribution Amount	(155,550.14	)
less Deposit to (Release from) Spread Account	(11,965.40	)
Remaining Excess Interest	160,959.29
Investor Distributions
Investor Certificate Interest	143,449.96
Managed Amortization Period? (Y=1, N=0)	0
Rapid Amortization Period? (Y=1, N=0)	1
Principal Collections less Additional Balances	2,492,749.14
Alternative Principal Payment	2,492,749.14
Maximum Principal Collections	4,546,584.59
Principal Distribution Amount	4,546,584.59
Investor Loss Amount Distributed to Investors	239,573.46
Excess Interest Paid as Principal	(155,550.14	)
Transferor Distributions
Transferor Interest Collections (net of Transferor Servicing Fee)	45,730.65
Funds Released from Spread Account	0.00
Principal Distributions (including Transferor Principal Collections)	92,797.59
Excess Int. (Shortfall) a/ Interest	284,810.91
Excess Int. (Shortfall) a/ Premium b/ Losses	275,721.34
Excess Int. (Shortfall) a/ Losses	36,147.88
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)	4,774,057.87
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:	8/20/04
Beginning Pool Balance	114,646,142.77
Interest Distribution	479,056.63
Principal Distribution	4,639,382.18
Additional Balances	2,146,633.04
Liquidation Loss Amount	267,989.12
Ending Pool Balance	111,885,404.51
Beginning Investor Certificate Principal Balance	99,158,959.10
Investor Certificate Interest	143,449.96
Unpaid Investor Certificate Interest Shortfall distributed	0.00
Investor Certificate Principal	4,630,607.91
Ending Investor Certificate Principal Balance	94,528,351.19
Pool Factor	0.1890567
Beginning Transferor Balance	12,156,262.56
Interest Distribution (including funds released from Spread Account)	50,795.76
Principal Distribution (including Unallocated Transferor Principal Collections)	92,797.59
Additional Balances	2,146,633.04
Losses allocated to Transferor	28,415.66
Ending Transferor Balance	14,181,682.35
Minimum Transferor Interest	5,594,270.23
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	102,489,880.21
Principal Distribution Amount	4,546,584.59
Investor Loss Reduction Amount	239,573.46
Ending Invested Amount	97,703,722.16
Beginning Total OC Amount	3,330,921.11
Ending Total OC Amount	3,175,370.97
Ending Total OC Amount (% of Original Invested Amount)	0.64	%
Spread Account Cap Amount	244,259.31
Beginning Spread Account Balance	256,224.70
Draw from Account to Pay Credit Enhancer	0.00
Deposit to (Release from)	(11,965.40	)
Ending Spread Account Balance	244,259.31
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:	8/20/04
Beginning Insured Principal Amount	$99,158,959.10
Ending Insured Principal Amount	$94,528,351.19
Available Credit Enhancement	0.67	%
Investor Distribution Amount	4,774,057.87
Transferor Distribution Amount (incl. Excess Cash Rel. From SA)	138,528.24
Investor Loss Amount Reimbursed from Excess Interest	239,573.46
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	3,175,370.97
Cum. Principal Payments (Including ECPB & APDA)	405,471,648.81
Cum. Principal Payments (Excluding ECPB & APDA)	402,451,827.97
Cum. OC Amount	3,175,370.97
Cum. SA Deposits	244,259.31
Cum. Liquidation Losses	8,356,673.74
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)	0.500	%
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:	8/20/04
SOURCES OF FUNDS:
Mtge Loans Interest	454,789.47
Mtge Loans Net Liq. Proceeds (Alloc. to Int. & Incl. Rec. Charge-Offs)	24,267.16
Mtge Loans Insurance Proceeds (Alloc. to Int.)	0.00
Mtge Loans Purchase Price (Alloc. to Int.)	0.00
Mtge Loans Principal	4,639,382.18
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	5,118,438.81
USES OF FUNDS
Servicing Fee	47,769.23
Investor Interest Distribution	143,449.96
Accrued and Unpaid Investor Interest Distributed	0.00
Investor Principal Distribution	4,630,607.91
Transferor Distribution (not including Cash Released to Transferor)	138,528.24
Unallocated Transferor Principal Collections	0.00
Accrued and Unpaid Servicing Fee Distributed	0.00
Credit Enhancement Premium Distributed	9,089.57
Cash Deposited to (Released from) Spread Account	(11,965.40	)
Cash Released to Transferor	160,959.29
Total	5,118,438.81
PERFORMANCE PARAMETERS
Aggregate Amount of Locked Balances	957,083.82
Aggregate Amount of Locked Balances - %	0.855	%
Portfolio CLTV as of the End of the Collection Period	74.485	%
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:

Greg Kwasny, JP Morgan Trust Company, NA

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:		8/20/04
A. POOL INFORMATION
Aggregate Amount of Collections		5,118,438.81
Aggregate Amount of Interest Collections		479,056.63
Aggregate Amount of Principal Collections		4,639,382.18
Transfer Deposit Amount		0.00
Beginning Pool Balance		114,646,142.77
Ending Pool Balance		111,885,404.51
Additional Balances		2,146,633.04
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)		0.500	%
Servicing Fee		47,769.23
Unpaid Servicing Fee Received		0.00
Remaining Accrued and Unpaid Servicing Fee		0.00
B. INTEREST, PRINCIPAL & LOSS ALLOCATION
Investor Certificateholder Floating Allocation Percentage		89.40	%
Investor Certificateholder Fixed Allocation Percentage		98.00	%
Investor Interest Collections		428,260.87
Investor Principal Collections		4,546,584.59
Transferor Interest Collections		50,795.76
Transferor Principal Collections		92,797.59
Investor Loss Amount		239,573.46
Beginning Invested Amount		102,489,880.21
Ending Invested Amount		97,703,722.16
C. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
Investor Certificate Interest Distributed		143,449.96
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		4,546,584.59
Managed Amortization Period? (Yes=1; No=0)		0
Rapid Amortization Period? (Yes=1; No=0)		1
Maximum Principal Collections Payment		4,546,584.59
Alternative Principal Payment		2,492,749.14
Principal Collections less Additional Balances		2,492,749.14
Investor Loss Amount Distributed to Investors		239,573.46
Accelerated Principal Distribution Amount		(155,550.14	)
D. INVESTOR CERTIFICATE PRINCIPAL BALANCE
Beginning Certificate Principal Balance		99,158,959.10
Ending Certificate Principal Balance		94,528,351.19
Pool Factor		0.1890567

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:	8/20/04
E. DISTRIBUTIONS TO TRANSFEROR
Interest Distribution	50,795.76
Principal Distribution	92,797.59
Amount Distributed to Transferor	0.00
F. TRANSFEROR BALANCE
Beginning Transferor Principal Balance	12,156,262.56
Ending Transferor Principal Balance	14,181,682.35
Minimum Transferor Balance	5,594,270.23
G. INVESTOR CERTIFICATE RATE
Investor Certificate Rate	1.68000	%
LIBOR Rate	1.42000	%
Maximum Rate	4.07534	%
Weighted Average Mortgage Net Loan Rate	4.07534	%
H. CREDIT ENHANCEMENT
Credit Enhancement Fee	9,089.57
Guaranteed Amount	0.00
Guaranteed Principal Distribution Amount	0.00
Credit Enhancement Draw Amount	0.00
I. SPREAD ACCOUNT
Beginning Spread Account Balance	256,224.70
Ending Spread Account Balance	244,259.31
Amount to be distributed to (Released from) the Spread Account	(11,965.40	)
Spread Account Maximum	244,259.31
J. DELINQUENCY & REO STATUS
Delinquent 30-59 days
No. of Accounts	44
Trust Balances	1,173,245.24
Delinquent 60-89 days
No. of Accounts	23
Trust Balances	611,623.44
Delinquent 90+ days
No. of Accounts	50
Trust Balances	1,593,898.85
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:	8/20/04
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 August 2004

Bank One, N.A.

as Servicer

/s/    Philip C. McNiel

Philip C. McNiel

Vice President

Distribution List:

MBIA

Greg Kwasny, JP Morgan Trust Company, NA

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:	8/20/04
INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000 ORIGINAL PRINCIPAL AMOUNT)
A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS
Investor Certificate Interest Distributed	0.286900
Investor Certificate Interest Shortfall Distributed	0.000000
Remaining Unpaid Investor Certificate Interest Shortfall	0.000000
Managed Amortization Period ? (Yes=1; No=0)	0
Investors Certificate Principal Distributed	9.261216
Principal Distribution Amount	9.093169
Maximum Principal Payment	9.093169
Alternative Principal Payment	4.985498
Principal Collections less Additional Balances	4.985498
Investor Loss Amount Distributed to Investors	0.479147
Accelerated Principal Distribution Amount	-0.311100
Credit Enhancement Draw Amount	0.00
Total Amount Distributed to Certificateholders (P & I)	9.548116
B. INVESTOR CERTIFICATE PRINCIPAL BALANCE
Beginning Investor Certificate Balance	99,158,959.10
Ending Investor Certificate Balance	94,528,351.19
Beginning Invested Amount	102,489,880.21
Ending Invested Amount	97,703,722.16
Investor Certificateholder Floating Allocation Percentage	89.3967	%
Pool Factor	0.1890567
Liquidation Loss Amount for Liquidated Loans	267,989.12
Unreimbursed Liquidation Loss Amount	0.00
C. POOL INFORMATION
Beginning Pool Balance	114,646,142.77
Ending Pool Balance	111,885,404.51
Servicing Fee	47,769.23
D. INVESTOR CERTIFICATE RATE
Investor Certificate Rate	1.680000	%
LIBOR Rate	1.420000	%
Maximum Rate	4.075336	%
E. DELINQUENCY & REO STATUS
Delinquent 30-59 days
No. of Accounts	44
Trust Balances	1,173,245.24
Delinquent 60-89 days
No. of Accounts	23
Trust Balances	611,623.44
Delinquent 90+ days
No. of Accounts	50
Trust Balances	1,593,898.85
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:	8/20/04

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 August 2004

Bank One, N.A.

as Servicer

/s/    Philip C. McNiel

Philip C. McNiel

Vice President

Distribution List:

Greg Kwasny, JP Morgan Trust Company, NA