Report of Independent Accountants
on Applying Agreed-Upon Procedures
MBNA America Bank, N.A.
1100 North King Street
Wilmington, Delaware 19801
and
The Bank of New York
101 Barclay Street
New York, New York 10286
MBNA Credit Card Master Note Trust
We have performed the procedures enumerated below, which were agreed to by MBNA America Bank, N.A. ("MBNA") and The Bank of New York,
solely to assist you with respect to the amounts set forth in the monthly exhibits of the MBNA Credit Card Master Note Trust ("Note
Trust"), prepared by MBNA pursuant to subsections 907 and 908 of the Indenture dated as of May 24, 2001, between MBNA Credit Card
Master Note Trust and The Bank of New York, for the period May 24, 2001 through June 30, 2001. This engagement to apply agreed-upon
procedures was performed in accordance with standards established by the American Institute of Certified Public Accountants. The
sufficiency of the procedures is solely the responsibility of MBNA and The Bank of New York. Consequently, we make no representation
regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for
any other purpose.
Our procedures were as follows: We compared the amounts set forth in the monthly exhibits of the Note Trust prepared by MBNA for the
period May 24, 2001 through June 30, 2001 with reports prepared by MBNA's bank card processor or MBNA, which were the source of such
amounts. The specific monthly exhibits subject to these procedures included the following: Exhibit A of the Indenture (Payment
Instruction), Exhibit B of the Indenture (Monthly Noteholders' Statement), Exhibit B of the Indenture Supplement (MBNAseries Schedule
to Payment Instructions), and Exhibit C of the Indenture Supplement (MBNAseries Schedule to Monthly Noteholders' Statement).
As a result of the procedures performed we noted that in all instances the amounts set forth in the monthly exhibits of the Note
Trust prepared by MBNA for the period May 24, 2001 through June 30, 2001 were in agreement with reports prepared by MBNA's bank card
processor or MBNA.
We were not engaged to, and did not, perform an examination, the objective of which would be the expression of an opinion on the
amounts set forth in the monthly exhibits of the Note Trust prepared by MBNA pursuant to subsections 907 and 908 of the Indenture or
on the reports prepared by MBNA's bank card processor or MBNA. Accordingly, we do not express such an opinion. Had we performed
additional procedures, other matters might have come to our attention that would have been reported to you.
This report is intended solely for the use of the specified users listed above and should not be used by those who have not agreed to
the procedures and taken responsibility for the sufficiency of the procedures for their purposes.
[GRAPHIC OMITTED][GRAPHIC OMITTED]
August 15, 2001
Report of Management on Credit Card and Consumer Loan Trust Internal Control
and Pooling and Servicing Agreement/Indenture Compliance
Trust Internal Control
MBNA America Bank, N.A., ("MBNA" or the "Company"), a wholly owned subsidiary of MBNA Corporation is responsible for establishing and
maintaining effective controls over the functions performed as servicer of MBNA's credit card and consumer loan trusts, listed in
Appendix I (the "Trusts" or individually "Trust"). These controls are designed to provide reasonable assurance to the Company's
management and board of directors that Trust assets are safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization in conformity with the applicable Pooling and Servicing
Agreements, Pooling and Servicing Agreement Supplements, Indenture and MBNASeries Indenture Supplement (together the "Agreements") as
specified in Appendix I, between MBNA as Seller/Transferor and Servicer and the applicable Trustee (specific Agreements and Trustees
are listed in Appendix I) and are recorded properly to permit the preparation of the required financial reports.
There are inherent limitations in any control including the possibility of human error and circumvention or overriding of the
control. Accordingly, even effective controls can provide only reasonable assurance with respect to the achievement of any
objectives of controls. Further, because of changes in conditions, the effectiveness of controls may vary over time.
The Company has determined that the objectives of controls with respect to servicing and reporting of sold loans are to provide
reasonable, but not absolute assurance that:
o Funds collected are remitted to the Trustee in accordance with the Agreements.
o Trust assets are segregated from those retained by MBNA in accordance with the Agreements.
o Expenses incurred by the Trusts are calculated and remitted in accordance with the Agreements.
o The additions of accounts to the Trusts are authorized in accordance with the Agreements.
o The removals of accounts from the Trusts are authorized in accordance with the Agreements.
August 15, 2001
Page 2
Trust Internal Control (continued)
o Trust assets amortizing out of the Trusts are calculated in accordance with the Agreements.
o Monthly Trust reports generated in the form of "Exhibits" and provided to the Trustee are reviewed by a Vice President or
above prior to distribution.
o Monthly Trust reports generated in the form of "Exhibits" contain all information required by the Agreements.
The Company has assessed its controls over the functions performed as servicer of the Trusts in relation to these criteria. Based
upon this assessment, the Company believes that, as of June 30, 2001, its controls over the functions performed as servicer of the
Trusts are effective in providing reasonable assurance that Trust assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance with management's authorization in conformity with the Agreements
between MBNA and the applicable Trustees and are recorded properly to permit the preparation of the required financial reports.
Pooling and Servicing Agreement Compliance
The Company is responsible for complying with the covenants and conditions of the Agreements listed in Appendix I to this report.
The Company assessed its compliance with the relevant covenants and conditions identified in Appendix I for each of the Agreements.
Based upon this assessment, MBNA was in material compliance with the relevant covenants and conditions of the Agreements identified
in Appendix I for each of the Agreements during the periods specified in Appendix I. In addition, the Company did not identify any
instances of material non-compliance in performing the assessment.
August 15, 2001
Page 3
MBNA America Bank, N.A. by:
/s/ M. Scot Kaufman
M. Scot Kaufman
Executive Vice Chairman
/s/ Kenneth A. Vecchione
Kenneth A. Vecchione
Vice Chairman and Chief Financial Officer
/s/ Thomas D. Wren
Thomas D. Wren
Senior Executive Vice President and
Treasurer
/s/ Victor P. Manning
Victor P. Manning
Senior Executive Vice President and
Chief Accounting Officer
/s/ Douglas O. Hart
Douglas O. Hart
Senior Executive Vice President
PSA SERVICING
PSA SUPPL. COMPLIANCE
PSA COVENANTS
TRUST TRUSTEE DATE DATE PERIOD AND
CONDITIONS
MBNA Master Credit Card Trust II Series 1994-C Bank of New York 8/4/94* 10/26/94*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1994-E Bank of New York 8/4/94* 12/15/94*
7/1/00 - 6/30/01 (b)
MBNA Master Credit Card Trust II Series 1995-A Bank of New York 8/4/94* 3/22/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-C Bank of New York 8/4/94* 6/29/95*
7/1/00 - 6/30/01 (c)
MBNA Master Credit Card Trust II Series 1995-D Bank of New York 8/4/94* 6/29/95*
7/1/00 - 7/17/00 (c)
MBNA Master Credit Card Trust II Series 1995-E Bank of New York 8/4/94* 8/2/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-F Bank of New York 8/4/94* 8/30/95*
7/1/00 - 9/15/00 (d)
MBNA Master Credit Card Trust II Series 1995-G Bank of New York 8/4/94* 9/27/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-I Bank of New York 8/4/94* 10/26/95*
7/1/00 - 11/15/00 (a)
MBNA Master Credit Card Trust II Series 1995-J Bank of New York 8/4/94* 11/21/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-A Bank of New York 8/4/94* 2/28/96*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-B Bank of New York 8/4/94* 3/26/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-C Bank of New York 8/4/94* 3/27/96
7/1/00 - 4/16/01 (a)
MBNA Master Credit Card Trust II Series 1996-D Bank of New York 8/4/94* 5/1/96
7/1/00 - 5/15/01 (a)
MBNA Master Credit Card Trust II Series 1996-E Bank of New York 8/4/94* 5/21/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-F Bank of New York 8/4/94* 6/25/96*
7/1/00 - 6/30/01 (e)
MBNA Master Credit Card Trust II Series 1996-G Bank of New York 8/4/94* 7/17/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-H Bank of New York 8/4/94* 8/14/96
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1996-I Bank of New York 8/4/94* 9/25/96
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1996-J Bank of New York 8/4/94* 9/19/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-K Bank of New York 8/4/94* 10/24/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-M Bank of New York 8/4/94* 11/26/96
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-B Bank of New York 8/4/94* 2/27/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-C Bank of New York 8/4/94* 3/26/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-D Bank of New York 8/4/94* 5/22/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-E Bank of New York 8/4/94* 5/8/97
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-F Bank of New York 8/4/94* 6/18/97
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1997-G Bank of New York 8/4/94* 6/18/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-H Bank of New York 8/4/94* 8/6/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-I Bank of New York 8/4/94* 8/26/97
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1997-J Bank of New York 8/4/94* 9/10/97
7/1/00 - 6/30/01 (a)
MBNA Master Consumer Loan Trust Series 1997-1 Bankers Trust Company 9/24/97*
9/24/97 7/1/00 - 6/30/01 (k)
MBNA Master Credit Card Trust II Series 1997-K Bank of New York 8/4/94* 10/22/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-L Bank of New York 8/4/94* 11/13/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-M Bank of New York 8/4/94* 11/6/97
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-N Bank of New York 8/4/94* 12/9/97
7/1/00 - 11/15/00 (f)
MBNA Master Credit Card Trust II Series 1997-O Bank of New York 8/4/94* 12/23/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-A Bank of New York 8/4/94* 3/18/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-B Bank of New York 8/4/94* 4/14/98
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1998-C Bank of New York 8/4/94* 6/24/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-D Bank of New York 8/4/94* 7/30/98
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1998-E Bank of New York 8/4/94* 8/11/98
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1998-F Bank of New York 8/4/94* 8/26/98
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1998-G Bank of New York 8/4/94* 9/10/98
7/1/00 - 6/30/01 (a)
PSA SERVICING
PSA SUPPL. COMPLIANCE
PSA COVENANTS
TRUST TRUSTEE DATE DATE PERIOD AND CONDITIONS
MBNA Master Credit Card Trust II Series 1998-H Bank of New York 8/4/94* 9/29/98
7/1/00 - 3/15/01 (e)
MBNA Master Credit Card Trust II Series 1998-I Bank of New York 8/4/94* 10/22/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-J Bank of New York 8/4/94* 10/29/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-K Bank of New York 8/4/94* 11/24/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-L Bank of New York 8/4/94* 12/22/98
7/1/00 - 3/15/01 (e)
MBNA Master Credit Card Trust II Series 1999-A Bank of New York 8/4/94* 3/25/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-B Bank of New York 8/4/94* 3/26/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-C Bank of New York 8/4/94* 5/18/99
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1999-D Bank of New York 8/4/94* 6/3/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-E Bank of New York 8/4/94* 7/7/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-F Bank of New York 8/4/94* 8/3/99
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1999-G Bank of New York 8/4/94* 7/29/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-H Bank of New York 8/4/94* 8/18/99
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1999-I Bank of New York 8/4/94* 9/8/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-J Bank of New York 8/4/94* 9/23/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-K Bank of New York 8/4/94* 10/27/99
7/1/00 - 6/30/01 (i)
MBNA Master Credit Card Trust II Series 1999-L Bank of New York 8/4/94* 11/5/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-M Bank of New York 8/4/94* 12/1/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-A Bank of New York 8/4/94* 3/8/00
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-B Bank of New York 8/4/94* 3/28/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-Z Bank of New York 8/4/94* 3/30/00
7/1/00 - 6/30/01 (j)
MBNA Master Credit Card Trust II Series 2000-C Bank of New York 8/4/94* 4/13/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-D Bank of New York 8/4/94* 5/11/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-E Bank of New York 8/4/94* 6/1/00
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-F Bank of New York 8/4/94* 6/23/00
7/1/00 - 6/30/01 (f)
MBNA Master Consumer Loan Trust Series 2000-1 Bankers Trust Company 9/24/97*
6/29/00 7/1/00 - 6/30/01 (l)
MBNA Master Credit Card Trust II Series 2000-G Bank of New York 8/4/94* 7/20/00
7/20/00 - 6/30/01 (f)
MBNA Master Consumer Loan Trust Series 2000-2 Bankers Trust Company 9/24/97*
7/26/00 7/26/00 - 6/30/01 (l)
MBNA Master Credit Card Trust II Series 2000-H Bank of New York 8/4/94* 8/23/00
8/23/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 2000-I Bank of New York 8/4/94* 9/8/00
9/8/00 - 6/30/01 (m)
MBNA Triple A Master Trust Series 2000-1 Bank of New York 8/4/94* 9/28/00 9/28/00 - 6/30/01
(n)
MBNA Triple A Master Trust Series 2000-2 Bank of New York 8/4/94* 9/28/00 9/28/00 - 6/30/01
(n)
MBNA Master Credit Card Trust II Series 2000-J Bank of New York 8/4/94* 10/12/00
10/12/00 - 6/30/01 (o)
MBNA Master Credit Card Trust II Series 2000-K Bank of New York 8/4/94* 11/21/00
11/21/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 2000-L Bank of New York 8/4/94* 12/13/00
12/13/00 - 6/30/01 (m)
MBNA Master Credit Card Trust II Series 2001-A Bank of New York 8/4/94* 2/20/01
2/20/01 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2001-B Bank of New York 8/4/94* 3/8/01
3/8/01 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2001-C Bank of New York 8/4/94* 4/25/01
4/25/01 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 2001-D Bank of New York 8/4/94* 5/24/01
5/24/01 - 6/30/01 (p)
* - Indicates agreement was amended
PSA and PSA Supplement Covenants and Conditions
(a) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 5.02(a), 9(b), 9(c).
(b) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.19(a), 4.19(b),
5.02(a), 9(b), 9(c).
(b) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.13, 5.02(a), 10(b), 10(c).
(c) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.12, 4.13, 4.14, 4.16(a), 4.17(a), 4.20(a), 4.20(f),
4.21(a), 5.02(a), 9(b), 9(c).
(d) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 4.18(b),
5.02(a), 9(b), 9(c).
(e) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 5.02, 10(b), 10(c).
(f) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 5.02(a), 9(b),
9(c).
(g) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 5.02(a),
10(b), 10(c).
(h) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.19(a),
4.19(f), 4.20(a), 5.02(a), 9(b), 9(c).
(i) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 5.03(a), 9(b), 9(c).
(j) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 5.02(a), 10(b), 10(c).
(k) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.19(a), 4.19(b), 5.01, 5.02(a), 10(b),
10(d).
(l) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17, 4.19(a), 4.19(b), 5.01,
5.02(a), 10(b), 10(d).
(m) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.18, 4.19(a)
and (g), 4.20(a), 5.02(a), 9(c), 9(d).
(n) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 5.02, 10(c), 10(d).
(o) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.18,
4.19(a), 5.02(a), 9(c), 9(d).
(p) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.09, 5.02, 7(c).
Report of Independent Accountants
MBNA America Bank, N.A.
1100 North King Street
Wilmington, Delaware 19801
and
The Bank of New York
101 Barclay Street
MBNA Master Credit Card Trust II
We have examined management's assertion that MBNA America Bank, N.A. ("MBNA" or "the Company"), a wholly owned subsidiary of MBNA
Corporation, was in material compliance with the covenants and conditions of sections 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05,
3.06(b), 4.02(a) and 4.03(a), (c) and (d) of the Pooling and Servicing Agreement dated as of August 4, 1994, as amended (the "PSA")
and the sections specified in Attachment A of the applicable Series' Pooling and Servicing Agreement Supplement (the "PSA
Supplement"), between MBNA and The Bank of New York, during the compliance periods specified in Attachment A. In addition, we have
examined management's assertion that MBNA was in material compliance with the covenants and conditions of sections 310(a), 402(a),
701(a) and (b), 907, 908(a) and 1201 of the MBNA Credit Card Master Note Trust Indenture dated as of May 24, 2000 (the "Indenture")
and sections 2.02(i)-(iv), 3.16 and 4.01(a) of the MBNA Credit Card Master Note Trust MBNAseries Indenture Supplement dated May 24,
2001 (the "Indenture Supplement" together with the PSA, PSA Supplement and Indenture, the "Agreements"), between the MBNA Credit Card
Master Note Trust and The Bank of New York, during the compliance periods specified in Attachment A.
New York, New York 10286
These assertions are included in the accompanying report by management titled, "Report of Management on Credit Card and Consumer Loan
Trust Internal Control and Pooling and Servicing Agreement/Indenture Compliance" (the "Report"). Management is responsible for
MBNA's compliance with those requirements. Our responsibility is to express an opinion on management's assertions about the Company's
compliance based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and,
accordingly, included examining, on a test basis, evidence about MBNA's compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our
opinion. Our examination does not provide a legal determination of MBNA's compliance with specified requirements.
In our opinion, management's assertions that MBNA was in material compliance with the covenants and conditions of the Agreements,
referred to above, during the compliance periods specified in Attachment A, are fairly stated, in all material respects.
This report is intended solely for the information and use of the management of MBNA and The Bank of New York, as Trustee of the
Master Trust and Indenture Trustee of the Note Trust, and is not intended and should not be used by anyone other than these specified
parties and anyone who is authorized to receive such information as specified in the Agreements or in the applicable Series' or
MBNAseries Notes' Underwriting/Subscription/Purchase Agreement, as specified in Attachment A. However, this report is a matter of
public record as a result of being included as an exhibit to the annual reports on Form 10-K prepared by MBNA and filed with the
Securities and Exchange Commission on behalf of both the MBNA Master Credit Card Trust II and the MBNA Credit Card Master Note Trust
and its distribution is not limited.
[GRAPHIC OMITTED][GRAPHIC OMITTED]
August 15, 2001
2
Attachment A
Pooling and Servicing PSA Date of Underwriting/
Agreement Supplement Subscription/Purchase
Series Supplement Date Sections Compliance Period Lead Underwriter/Purchaser Agreement
- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1994-C October 26, 1994, as (a) July 1, 2000 - June 30, 2001 Merrill Lynch & Co. October 19, 1994
amended
1994-E December 15, 1994, as (b) July 1, 2000 - June 30, 2001 (1) December 15, 1994
amended
1995-A March 22, 1995, as amended (a) July 1, 2000 - June 30, 2001 Merrill Lynch & Co. March 15, 1995
1995-C June 29, 1995, as amended (c) July 1, 2000 - June 30, 2001 Lehman Brothers June 22, 1995
1995-D June 29, 1995, as amended (c) July 1, 2000 - July 17, 2000 Lehman Brothers June 22, 1995
1995-E August 2, 1995, as amended (a) July 1, 2000 - June 30, 2001 Credit Suisse First Boston July 26, 1995
1995-F August 30, 1995, as amended (d) July 1, 2000 - September 15, 2000 J.P. Morgan & Co. August 16, 1995
1995-G September 27, 1995, as (a) July 1, 2000 - June 30, 2001 Lehman Brothers September 22, 1995
amended
Attachment A (continued)
Pooling and Servicing PSA Date of Underwriting/
Agreement Supplement Subscription/Purchase
Series Supplement Date Sections Compliance Period Lead Underwriter/Purchaser Agreement
- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1995-I October 26, 1995, as (a) July 1, 2000 - November 15, 2000 Merrill Lynch & Co. October 19, 1995
amended
1995-J November 21, 1995, as (a) July 1, 2000 - June 30, 2001 J. P. Morgan & Co. November 14, 1995
amended
1996-A February 28, 1996, as (a) July 1, 2000 - June 30, 2001 Goldman, Sachs & Co. February 21, 1996
amended
1996-B March 26, 1996 (a) July 1, 2000 - June 30, 2001 Lehman Brothers March 18, 1996
1996-C March 27, 1996 (a) July 1, 2000 - April 16, 2001 Merrill Lynch & Co. March 20, 1996
1996-D May 1, 1996 (a) July 1, 2000 - May 15, 2001 Merrill Lynch & Co. April 24, 1996
1996-E May 21, 1996 (a) July 1, 2000 - June 30, 2001 J.P. Morgan & Co. May 13, 1996
1996-F June 25, 1996, as amended (e) July 1, 2000 - June 30, 2001 (1) June 25, 1996
1996-G July 17, 1996 (a) July 1, 2000 - June 30, 2001 Lehman Brothers July 10, 1996
1996-H August 14, 1996 (f) July 1, 2000 - June 30, 2001 Goldman, Sachs & Co. August 7,1996
Attachment A (continued)
Pooling and Servicing PSA Date of Underwriting/
Agreement Supplement Subscription/Purchase
Series Supplement Date Sections Compliance Period Lead Underwriter/Purchaser Agreement
- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1996-I September 25, 1996 (g) July 1, 2000 - June 30, 2001 Class A: Merrill Lynch Bank AG September 23,1996
1996-J September 19, 1996 (a) July 1, 2000 - June 30, 2001 J.P. Morgan & Co. September 12, 1996
1996-K October 24, 1996 (a) July 1, 2000 - June 30, 2001 Goldman, Sachs & Co. October 18, 1996
1996-M November 26, 1996 (f) July 1, 2000 - June 30, 2001 Credit Suisse First Boston November 19, 1996
1997-B February 27, 1997 (a) July 1, 2000 - June 30, 2001 Lehman Brothers February 20, 1997
1997-C March 26, 1997 (a) July 1, 2000 - June 30, 2001 Merrill Lynch & Co. March 19, 1997
1997-D May 22, 1997 (g) July 1, 1999 - June 30, 2000 Class A: Morgan Stanley & Co. Class A: April 24, 1997
International Limited, Class B: Morgan Class B: April 29, 1997
Stanley & Co. Incorporated, Class C: Class C: May 2, 1997
Lehman Brothers Inc.
1997-E May 8, 1997 (f) July 1, 2000 - June 30, 2001 J.P. Morgan & Co. April 24, 1997
1997-F June 18, 1997 (h) July 1, 2000 - June 30, 2001 Lehman Brothers June 11, 1997
1997-G June 18, 1997 (a) July 1, 2000 - June 30, 2001 (1) June 16, 1997
Attachment A (continued)
Pooling and Servicing PSA Date of Underwriting/
Agreement Supplement Subscription/Purchase
Series Supplement Date Sections Compliance Period Lead Underwriter/Purchaser Agreement
- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1997-H August 6, 1997 (g) July 1, 1999 - June 30, 2000 Class A: J.P. Morgan and CIE, S.A., Class A: July 9, 1997
Class B and C: J.P. Morgan Securities Class B: July 9, 1997
Inc. Class C: July 15, 1997
1997-I August 26, 1997 (h) July 1, 2000 - June 30, 2001 Goldman, Sachs & Co. August 12, 1997
1997-J September 10, 1997 (a) July 1, 2000 - June 30, 2001 Lehman Brothers September 4, 1997
1997-K October 22, 1997 (a) July 1, 2000 - June 30, 2001 Credit Suisse First Boston October 9, 1997
1997-L November 13, 1997 (g) July 1, 2000 - June 30, 2001 Class A: Merrill Lynch Finance October 15, 1997
S.A., Class B: Merrill Lynch, Pierce,
Fenner & Smith Incorporated
1997-M November 6, 1997 (f) July 1, 2000 - June 30, 2001 Salomon Brothers Inc October 28, 1997
1997-N December 9, 1997 (f) July 1, 2000 - June 30, 2001 Merrill Lynch & Co. November 19, 1997
1997-O December 23, 1997 (a) July 1, 2000 - June 30, 2001 (1) December 11, 1997
1998-A March 18, 1998 (a) July 1, 2000 - June 30, 2001 J.P. Morgan & Co. March 3, 1998
1998-B April 14 , 1998 (g) July 1, 2000 - June 30, 2001 Class A: Merrill Lynch International March 17, 1998
Attachment A (continued)
Pooling and Servicing PSA Date of Underwriting/
Agreement Supplement Subscription/Purchase
Series Supplement Date Sections Compliance Period Lead Underwriter/Purchaser Agreement
- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1998-C June 24, 1998 (a) July 1, 2000 - June 30, 2001 Salomon Brothers Inc June 10, 1998
1998-D July 30, 1998 (h) July 1, 2000 - June 30, 2001 Credit Suisse First Boston July 22, 1998
1998-E August 11, 1998 (f) July 1, 2000 - June 30, 2001 Lehman Brothers July 29, 1998
1998-F August 26, 1998 (f) July 1, 2000 - June 30, 2001 Merrill Lynch & Co. August 12, 1998
1998-G September 10, 1998 (a) July 1, 2000 - June 30, 2001 Credit Suisse First Boston September 3, 1998
1998-H September 29, 1998 (e) July 1, 2000 - March 15, 2001 (1) September 29, 1998
1998-I October 22, 1998 (a) July 1, 2000 - June 30, 2001 Salomon Smith Barney October 16, 1998
1998-J October 29, 1998 (a) July 1, 2000 - June 30, 2001 Goldman, Sachs & Co. October 22, 1998
Credit Suisse First Boston
1998-K November 24, 1998 (a) July 1, 2000 - June 30, 2001 (1) November 16, 1998
1998-L December 22, 1998 (e) July 1, 2000 - March 15, 2001 (1) December 22, 1998
1999-A March 25, 1999 (a) July 1, 2000 - June 30, 2001 Bear, Stearns & Co. Inc. March 3, 1999
1999-B March 26, 1999 (h) July 1, 2000 - June 30, 2001 Lehman Brothers March 18, 1999
Attachment A (continued)
Pooling and Servicing PSA Date of Underwriting/
Agreement Supplement Subscription/Purchase
Series Supplement Date Sections Compliance Period Lead Underwriter/Purchaser Agreement
- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1999-C May 18, 1999 (g) July 1, 2000 - June 30, 2001 Class A: Credit Suisse First Boston April 28, 1999
(Europe) Limited, Class B: Credit
Suisse First Boston Corporation
1999-D June 3, 1999 (a) July 1, 2000 - June 30, 2001 Salomon Smith Barney May 20, 1999
1999-E July 7, 1999 (a) July 1, 2000 - June 30, 2001 Merrill Lynch & Co. June 23, 1999
1999-F August 3, 1999 (g) July 1, 2000 - June 30, 2001 Class A: Morgan Stanley & Co. Class A: July 13, 1999
International Limited, Class B: Morgan Class B: July 15, 1999
Stanley & Co. Incorporated
1999-G July 29, 1999 (h) July 1, 2000 - June 30, 2001 Credit Suisse First Boston July 20, 1999
1999-H August 18, 1999 (f) July 1, 2000 - June 30, 2001 Merrill Lynch & Co. August 4, 1999
J.P. Morgan & Co.
1999-I September 8, 1999 (h) July 1, 2000 - June 30, 2001 Credit Suisse First Boston August 26, 1999
1999-J September 23, 1999 (h) July 1, 2000 - June 30, 2001 Goldman, Sachs & Co. September 14, 1999
1999-K October 27, 1999 (i) July 1, 2000 - June 30, 2001 (1) October 20, 1999
1999-L November 5, 1999 (a) July 1, 2000 - June 30, 2001 Salomon Smith Barney October 27, 1999
Attachment A (continued)
Pooling and Servicing PSA Date of Underwriting/
Agreement Supplement Subscription/Purchase
Series Supplement Date Sections Compliance Period Lead Underwriter/Purchaser Agreement
- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1999-M December 1, 1999 (h) July 1, 2000 - June 30, 2001 Lehman Brothers November 17, 1999
2000-A March 8, 2000 (h) July 1, 2000 - June 30, 2001 J. P. Morgan & Co. February 23, 2000
2000-B March 28, 2000 (a) July 1, 2000 - June 30, 2001 Chase Securities Inc. March 14, 2000
2000-C April 13, 2000 (a) July 1, 2000 - June 30, 2001 Lehman Brothers March 28, 2000
2000-D May 11, 2000 (a) July 1, 2000 - June 30, 2001 Salomon Smith Barney May 3, 2000
2000-E June 1, 2000 (h) July 1, 2000 - June 30, 2001 Deutsche Banc Alex. Brown May 23, 2000
2000-F June 23, 2000 (f) July 1, 2000 - June 30, 2001 Lehman Brothers June 8, 2000
2000-G July 20, 2000 (f) July 20, 2000 - June 30, 2001 Merrill Lynch & Co. July 11, 2000
2000-H August 23, 2000 (a) August 23, 2000 - June 30, 2001 Merrill Lynch & Co. August 1, 2000
2000-I September 8, 2000 (k) September 8, 2000 - June 30, 2001 Deutsche Banc Alex. Brown August 24, 2000
2000-J October 12, 2000 (l) October 12, 2000 - June 30, 2001 (1) September 22, 2000
(Class A)
September 21, 2000
(Class B)
Attachment A (continued)
Pooling and Servicing PSA Date of Underwriting/
Agreement Supplement Subscription/Purchase
Series Supplement Date Sections Compliance Period Lead Underwriter/Purchaser Agreement
- ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
2000-K November 21, 2000 (f) November 21, 2001 - June 30, 2001 Chase Securities Inc. November 7, 2000
2000-L December 13, 2000 (k) December 13, 2000 - June 30, 2001 Salomon Smith Barney December 15, 2000
2000-Z March 30, 2000 (j) July 1, 2000 - June 30, 2001 (1) March 30, 2000
2001-A February 20, 2001 (a) February 20, 2001 - June 30, 2001 Deutsche Banc Alex. Brown January 30, 3001
2001-B March 8, 2001 (a) March 8, 2001 - June 30, 2001 Credit Suisse First Boston February 22, 2001
2001-C April 25, 2001 (g) April 25, 2001 - June 30, 2001 (1) April 6, 2001
2001-D May 24, 2001 (m) May 24, 2001 - June 30, 2001 (2) (2)
Indenture and
MBNA Credit Card Indenture Terms
Master Note Trust Supplement Document
Notes Date Date Compliance Period Lead Underwriter
- --------------------------------------------------------------------------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------------------------------------------------------------------------
MBNAseries Class B (2001-1) May 24, 2001 May 24, 2001 May 24, 2001 - June 30, 2001 Lehman Brothers
MBNAseries Class C (2001-1) May 24, 2001 May 24, 2001 May 24, 2001 - June 30, 2001 Lehman Brothers
MBNAseries Class A (2001-1) May 24, 2001 May 31, 2001 May 31, 2001 - June 30, 2001 Lehman Brothers
Attachment A (continued)
Legend:
(a) PSA Supplement Sections 3(b), 4.05 through 4.13, 4.14(a), 4.15(a), 5.02(a) and 9(c) and (d)
(b) PSA Supplement Sections 3(c), 4.05 through 4.11, 4.13, 5.02(a) and 10(c) and (d)
(c) PSA Supplement Sections 3(b), 4.05 through 4.09, 4.11 through 4.14, 4.16(a), 4.17(a), 4.20(a) and (g), 4.21(a), 5.02(a) and
9(c) and (d)
(d) PSA Supplement Sections 3(b), 4.05 through 4.13, 4.14(a), 4.15(a), 4.18(a) and (c), 5.02(a) and 9(c) and (d)
(e) PSA Supplement Sections 3(b), 4.05 through 4.13, 5.02 and 10(c) and (d)
(f) PSA Supplement Sections 3(b), 4.05 through 4.13, 4.14(a), 4.15(a), 4.18(a), 5.02(a) and 9(c) and (d)
(g) PSA Supplement Sections 3(b), 4.05 through 4.13, 4.14(a), 4.15(a), 4.18(a), 5.02(a) and 10(c) and (d)
(h) PSA Supplement Sections 3(b), 4.05 through 4.13, 4.14(a), 4.15(a), 4.16(a), 4.19(a) and (g), 4.20(a), 5.02(a) and 9(c) and
(d)
(i) PSA Supplement Sections 3(b), 4.05 through 4.13, 4.14(a), 4.15(a), 5.03(a) and 9(c) and (d)
(j) PSA Supplement Sections 3(b), 4.05 through 4.13, 5.02(a) and 10(c) and (d)
(k) PSA Supplement Sections 3(b), 4.05 through 4.13, 4.14(a), 4.15(a), 4.16(a), 4.18, 4.19(a) and (g), 4.20(a), 5.02(a) and 9(c)
and (d)
(l) PSA Supplement Sections 3(b), 4.05 through 4.13, 4.14(a), 4.15(a), 4.16(a), 4.18, 4.19(a), 5.02(a) and 9(c) and (d)
(m) PSA Supplement Sections 3(b), 4.05 through 4.07, 4.09, 5.02 and 7(c)
(1) Applicable Series was privately placed; therefore the identity of the Purchaser is not disclosed herein.
(2) Series 2001-D is the primary asset of the MBNA Credit Card Master Note Trust and represents an undivided interest in the
MBNA Credit Card Master Note Trust. Such series does not have an Underwriter/Purchaser, nor an
Underwriting/Subscription/Purchasing Agreement associated with it.
August 15, 2001
Ernst & Young LLP
One North Charles
Baltimore, Maryland 21201
In connection with your attestation engagements relating to our assertions on (1) the effectiveness of controls over the functions
performed as servicer of MBNA's credit card and consumer loan trusts listed in Appendix I (the "Trusts") as of June 30, 2001, and (2)
compliance by MBNA with the covenants and conditions of certain sections, as specified in Appendix I, of each Trusts' applicable
Pooling and Servicing Agreement, Pooling and Servicing Agreement Supplements, the Indenture and the MBNASeries Indenture Supplement
(together the "Agreements"), and in connection with your agreed upon procedures engagements relating to the amounts in the
"mathematical calculations" set forth in the monthly certificates or settlement reports prepared by MBNA pursuant to subsections
3.04(b) of the Pooling and Servicing Agreements, as applicable, for the periods specified in Appendix I, as well as (b) the amounts
set forth in the monthly exhibits of the MBNA Credit Card Master Note Trust prepared by MBNA pursuant to subsections 907 and 908 of
the Indenture for the period May 24, 2001 through June 30, 2001, we recognize that obtaining representations from us concerning the
information contained in this letter is a significant procedure in enabling you to form an opinion about whether our assertions are
fairly stated in all material respects and in performing the specific agreed upon procedures. Accordingly, we make the following
representations with respect to these engagements which are true to our knowledge.
Controls Over the Functions Performed as Servicer of the Trusts
We acknowledge that, as members of management, we are responsible for establishing and maintaining effective controls over the
functions performed as servicer of the Trusts that provide reasonable assurance to management and the board of directors that Trust
assets are safeguarded against loss from unauthorized use or disposition and that transactions are executed in accordance with
management's authorization in conformity with the Agreements and are recorded properly to permit the preparation of required
financial reports.
Management has determined that the objectives of our controls with respect to servicing and reporting of sold loans are to provide
reasonable, but not absolute assurance that:
Ernst & Young LLP
August 15, 2001
Page 2
o Funds collected are remitted to the Trustee in accordance with the Agreements.
o Trust assets are segregated from those retained by MBNA in accordance with the Agreements.
o Expenses incurred by the Trusts are calculated and remitted in accordance with the Agreements.
o The additions of accounts to the Trusts are authorized in accordance with the Agreements.
o The removals of accounts from the Trusts are authorized in accordance with the Agreements.
o Trust assets amortizing out of the Trusts are calculated in accordance with the Agreements.
o Monthly Trust reports generated in the form of "Exhibits" and provided to the Trustee are reviewed by a Vice President or
above prior to distribution.
o Monthly Trust reports generated in the form of "Exhibits" contains all information required by the Agreements.
Management has performed an assessment of MBNA's controls over the functions performed as servicer of the Trusts in relation to these
criteria. Based upon this assessment, we believe that, as of June 30, 2001, the controls over the functions performed as servicer of
the Trusts are effective in providing reasonable assurance that Trust assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance with management's authorization in conformity with the Agreements
between MBNA and the applicable Trustee and are recorded properly to permit the preparation of the required financial reports.
The criteria against which we measured our assertion, as specified above, are sufficiently clear and comprehensive for a
knowledgeable user of the report to be able to understand them.
We are not aware of any material instances of fraud or any other instances of fraud that, although not material, involve management
or other employees who have a significant role in the controls over the functions performed as servicer of the Trusts.
Ernst & Young LLP
August 15, 2001
Page 3
To our knowledge there are no significant deficiencies in the design or operation of the controls that could adversely affect MBNA's
ability to safeguard Trust assets against loss, execute transactions in accordance with management's authority in conformity with the
applicable Agreements and prepare the required financial reports.
We have made available to you all minutes (or summaries when minutes are not available) of meetings of the board of directors of MBNA
America Bank N.A., and its committees.
We have made available to you all reports of examination from regulatory agencies. To our knowledge there were no situations of
noncompliance with or deficiencies in controls communicated by any regulatory agencies which would preclude achievement of any of the
criteria noted above.
No matters or occurrences, including those which may be communicated by regulatory agencies, have come to our attention up to the
date of this letter that might significantly change or affect the controls over the functions performed as servicer of the Trusts,
including any corrective actions taken (or that may be taken) by management regarding significant deficiencies.
Compliance with Covenants and Conditions of the Agreements
We acknowledge that we are responsible for complying with the covenants and conditions of the Agreements. We are also responsible
for establishing and maintaining an effective internal control over compliance with the covenants and conditions of the Agreements.
We have performed an evaluation of MBNA's compliance with the relevant covenants and conditions of the Agreements identified in
Appendix I for each of the Agreements, for the periods specified in Appendix I. Our evaluation assumed the accuracy of reports
prepared by MBNA's bank card processor and did not extend to the relevant aspects of MBNA's compliance that are the responsibility of
the bank card processor. Our evaluation indicated that MBNA was in material compliance with the relevant covenants and conditions of
the Agreements identified in Appendix I for each of the Agreements during the periods specified in Appendix I. No instances of
material non-compliance were noted.
We have made available to your representatives all documentation related to compliance with the specified requirements of the
Agreements.
We have received no communications from internal auditors or other parties concerning possible non-compliance with the covenants and
conditions of the Agreements including communications received between June 30, 2001 and the date of this letter.
To our knowledge there have been no instances of non-compliance between June 30, 2001 and the date of this letter. To our knowledge,
no events or transactions have occurred since June 30, 2001 or are pending that would have an effect on the compliance with the
covenants and conditions of the Agreements identified in Appendix I at that date or for the periods specified in Appendix I.
Ernst & Young LLP
August 15, 2001
Page 4
We are not aware of any instances of fraud involving management or employees who have significant roles in internal control over
compliance, or other employees, with the covenants and conditions of the Agreements identified in Appendix I.
Agreed Upon Procedures Applied to Monthly Certificates or Settlement Reports
We acknowledge that, as members of management, we are responsible for preparing the monthly certificates pursuant to the applicable
sections of the Agreements.
We have made available to your representatives all documentation related to the monthly certificates for the periods specified in
Appendix I.
We understand that your examinations were made, and your agreed upon procedures engagement was conducted, in accordance with
standards established by the American Institute of Certified Public Accountants and were therefore, designed primarily for the
purpose of expressing opinions on whether our assertions regarding (1) the effectiveness of the controls over the functions performed
as servicer of the Trusts and (2) our compliance with the covenants and conditions of certain sections of the Agreements were fairly
stated, in all material respects, based on the specified criteria. We further understand that your tests of our records and other
procedures were limited to those that you considered necessary for that purpose. We understand that an agreed upon procedures
engagement is substantially less in scope than an examination, the objective of which is the expression of an opinion on the amounts
in the "mathematical calculations" set forth in the monthly certificates. We also understand that the sufficiency of the procedures
performed in your agreed upon procedures engagement is solely the responsibility of the specified users of the report.
Ernst & Young LLP
August 15, 2001
Page 5
MBNA America Bank, N.A. by:
/s M. Scot Kaufman
M. Scot Kaufman
Executive Vice Chairman
/s/ Kenneth A. Vecchione
Kenneth A. Vecchione
Vice Chairman and Chief Financial Officer
/s/ Thomas D. Wren
Thomas D. Wren
Senior Executive Vice President and
Treasurer
/s/ Victor P. Manning
Victor P. Manning
Senior Executive Vice President and
Chief Accounting Officer
/s/ Douglas O. Hart
Douglas O. Hart
Senior Executive Vice President
Report of Management on Credit Card and Consumer Loan Trust Internal Control
and Pooling and Servicing Agreement/Indenture Compliance
Trust Internal Control
MBNA America Bank, N.A., ("MBNA" or the "Company"), a wholly owned subsidiary of MBNA Corporation is responsible for establishing and
maintaining effective controls over the functions performed as servicer of MBNA's credit card and consumer loan trusts, listed in
Appendix I (the "Trusts" or individually "Trust"). These controls are designed to provide reasonable assurance to the Company's
management and board of directors that Trust assets are safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization in conformity with the applicable Pooling and Servicing
Agreements, Pooling and Servicing Agreement Supplements, Indenture and MBNASeries Indenture Supplement (together the "Agreements") as
specified in Appendix I, between MBNA as Seller/Transferor and Servicer and the applicable Trustee (specific Agreements and Trustees
are listed in Appendix I) and are recorded properly to permit the preparation of the required financial reports.
There are inherent limitations in any control including the possibility of human error and circumvention or overriding of the
control. Accordingly, even effective controls can provide only reasonable assurance with respect to the achievement of any
objectives of controls. Further, because of changes in conditions, the effectiveness of controls may vary over time.
The Company has determined that the objectives of controls with respect to servicing and reporting of sold loans are to provide
reasonable, but not absolute assurance that:
o Funds collected are remitted to the Trustee in accordance with the Agreements.
o Trust assets are segregated from those retained by MBNA in accordance with the Agreements.
o Expenses incurred by the Trusts are calculated and remitted in accordance with the Agreements.
o The additions of accounts to the Trusts are authorized in accordance with the Agreements.
o The removals of accounts from the Trusts are authorized in accordance with the Agreements.
August 15, 2001
Page 2
Trust Internal Control (continued)
o Trust assets amortizing out of the Trusts are calculated in accordance with the Agreements.
o Monthly Trust reports generated in the form of "Exhibits" and provided to the Trustee are reviewed by a Vice President or
above prior to distribution.
o Monthly Trust reports generated in the form of "Exhibits" contain all information required by the Agreements.
The Company has assessed its controls over the functions performed as servicer of the Trusts in relation to these criteria. Based
upon this assessment, the Company believes that, as of June 30, 2001, its controls over the functions performed as servicer of the
Trusts are effective in providing reasonable assurance that Trust assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance with management's authorization in conformity with the Agreements
between MBNA and the applicable Trustees and are recorded properly to permit the preparation of the required financial reports.
Pooling and Servicing Agreement Compliance
The Company is responsible for complying with the covenants and conditions of the Agreements listed in Appendix I to this report.
The Company assessed its compliance with the relevant covenants and conditions identified in Appendix I for each of the Agreements.
Based upon this assessment, MBNA was in material compliance with the relevant covenants and conditions of the Agreements identified
in Appendix I for each of the Agreements during the periods specified in Appendix I. In addition, the Company did not identify any
instances of material non-compliance in performing the assessment.
August 15, 2001
Page 3
MBNA America Bank, N.A. by:
/s/ M. Scot Kaufman
M. Scot Kaufman
Executive Vice Chairman
/s/ Kenneth A. Vecchione
Kenneth A. Vecchione
Vice Chairman and Chief Financial Officer
/s/ Thomas D. Wren
Thomas D. Wren
Senior Executive Vice President and
Treasurer
/s/ Victor P. Manning
Victor P. Manning
Senior Executive Vice President and
Chief Accounting Officer
/s/ Douglas O. Hart
Douglas O. Hart
Senior Executive Vice President
PSA SERVICING
PSA SUPPL. COMPLIANCE
PSA COVENANTS
TRUST TRUSTEE DATE DATE PERIOD AND
CONDITIONS
MBNA Master Credit Card Trust II Series 1994-C Bank of New York 8/4/94* 10/26/94*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1994-E Bank of New York 8/4/94* 12/15/94*
7/1/00 - 6/30/01 (b)
MBNA Master Credit Card Trust II Series 1995-A Bank of New York 8/4/94* 3/22/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-C Bank of New York 8/4/94* 6/29/95*
7/1/00 - 6/30/01 (c)
MBNA Master Credit Card Trust II Series 1995-D Bank of New York 8/4/94* 6/29/95*
7/1/00 - 7/17/00 (c)
MBNA Master Credit Card Trust II Series 1995-E Bank of New York 8/4/94* 8/2/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-F Bank of New York 8/4/94* 8/30/95*
7/1/00 - 9/15/00 (d)
MBNA Master Credit Card Trust II Series 1995-G Bank of New York 8/4/94* 9/27/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-I Bank of New York 8/4/94* 10/26/95*
7/1/00 - 11/15/00 (a)
MBNA Master Credit Card Trust II Series 1995-J Bank of New York 8/4/94* 11/21/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-A Bank of New York 8/4/94* 2/28/96*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-B Bank of New York 8/4/94* 3/26/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-C Bank of New York 8/4/94* 3/27/96
7/1/00 - 4/16/01 (a)
MBNA Master Credit Card Trust II Series 1996-D Bank of New York 8/4/94* 5/1/96
7/1/00 - 5/15/01 (a)
MBNA Master Credit Card Trust II Series 1996-E Bank of New York 8/4/94* 5/21/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-F Bank of New York 8/4/94* 6/25/96*
7/1/00 - 6/30/01 (e)
MBNA Master Credit Card Trust II Series 1996-G Bank of New York 8/4/94* 7/17/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-H Bank of New York 8/4/94* 8/14/96
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1996-I Bank of New York 8/4/94* 9/25/96
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1996-J Bank of New York 8/4/94* 9/19/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-K Bank of New York 8/4/94* 10/24/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-M Bank of New York 8/4/94* 11/26/96
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-B Bank of New York 8/4/94* 2/27/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-C Bank of New York 8/4/94* 3/26/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-D Bank of New York 8/4/94* 5/22/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-E Bank of New York 8/4/94* 5/8/97
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-F Bank of New York 8/4/94* 6/18/97
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1997-G Bank of New York 8/4/94* 6/18/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-H Bank of New York 8/4/94* 8/6/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-I Bank of New York 8/4/94* 8/26/97
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1997-J Bank of New York 8/4/94* 9/10/97
7/1/00 - 6/30/01 (a)
MBNA Master Consumer Loan Trust Series 1997-1 Bankers Trust Company 9/24/97*
9/24/97 7/1/00 - 6/30/01 (k)
MBNA Master Credit Card Trust II Series 1997-K Bank of New York 8/4/94* 10/22/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-L Bank of New York 8/4/94* 11/13/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-M Bank of New York 8/4/94* 11/6/97
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-N Bank of New York 8/4/94* 12/9/97
7/1/00 - 11/15/00 (f)
MBNA Master Credit Card Trust II Series 1997-O Bank of New York 8/4/94* 12/23/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-A Bank of New York 8/4/94* 3/18/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-B Bank of New York 8/4/94* 4/14/98
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1998-C Bank of New York 8/4/94* 6/24/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-D Bank of New York 8/4/94* 7/30/98
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1998-E Bank of New York 8/4/94* 8/11/98
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1998-F Bank of New York 8/4/94* 8/26/98
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1998-G Bank of New York 8/4/94* 9/10/98
7/1/00 - 6/30/01 (a)
PSA SERVICING
PSA SUPPL. COMPLIANCE
PSA COVENANTS
TRUST TRUSTEE DATE DATE PERIOD AND CONDITIONS
MBNA Master Credit Card Trust II Series 1998-H Bank of New York 8/4/94* 9/29/98
7/1/00 - 3/15/01 (e)
MBNA Master Credit Card Trust II Series 1998-I Bank of New York 8/4/94* 10/22/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-J Bank of New York 8/4/94* 10/29/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-K Bank of New York 8/4/94* 11/24/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-L Bank of New York 8/4/94* 12/22/98
7/1/00 - 3/15/01 (e)
MBNA Master Credit Card Trust II Series 1999-A Bank of New York 8/4/94* 3/25/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-B Bank of New York 8/4/94* 3/26/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-C Bank of New York 8/4/94* 5/18/99
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1999-D Bank of New York 8/4/94* 6/3/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-E Bank of New York 8/4/94* 7/7/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-F Bank of New York 8/4/94* 8/3/99
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1999-G Bank of New York 8/4/94* 7/29/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-H Bank of New York 8/4/94* 8/18/99
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1999-I Bank of New York 8/4/94* 9/8/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-J Bank of New York 8/4/94* 9/23/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-K Bank of New York 8/4/94* 10/27/99
7/1/00 - 6/30/01 (i)
MBNA Master Credit Card Trust II Series 1999-L Bank of New York 8/4/94* 11/5/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-M Bank of New York 8/4/94* 12/1/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-A Bank of New York 8/4/94* 3/8/00
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-B Bank of New York 8/4/94* 3/28/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-Z Bank of New York 8/4/94* 3/30/00
7/1/00 - 6/30/01 (j)
MBNA Master Credit Card Trust II Series 2000-C Bank of New York 8/4/94* 4/13/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-D Bank of New York 8/4/94* 5/11/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-E Bank of New York 8/4/94* 6/1/00
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-F Bank of New York 8/4/94* 6/23/00
7/1/00 - 6/30/01 (f)
MBNA Master Consumer Loan Trust Series 2000-1 Bankers Trust Company 9/24/97*
6/29/00 7/1/00 - 6/30/01 (l)
MBNA Master Credit Card Trust II Series 2000-G Bank of New York 8/4/94* 7/20/00
7/20/00 - 6/30/01 (f)
MBNA Master Consumer Loan Trust Series 2000-2 Bankers Trust Company 9/24/97*
7/26/00 7/26/00 - 6/30/01 (l)
MBNA Master Credit Card Trust II Series 2000-H Bank of New York 8/4/94* 8/23/00
8/23/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 2000-I Bank of New York 8/4/94* 9/8/00
9/8/00 - 6/30/01 (m)
MBNA Triple A Master Trust Series 2000-1 Bank of New York 8/4/94* 9/28/00 9/28/00 - 6/30/01
(n)
MBNA Triple A Master Trust Series 2000-2 Bank of New York 8/4/94* 9/28/00 9/28/00 - 6/30/01
(n)
MBNA Master Credit Card Trust II Series 2000-J Bank of New York 8/4/94* 10/12/00
10/12/00 - 6/30/01 (o)
MBNA Master Credit Card Trust II Series 2000-K Bank of New York 8/4/94* 11/21/00
11/21/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 2000-L Bank of New York 8/4/94* 12/13/00
12/13/00 - 6/30/01 (m)
MBNA Master Credit Card Trust II Series 2001-A Bank of New York 8/4/94* 2/20/01
2/20/01 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2001-B Bank of New York 8/4/94* 3/8/01
3/8/01 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2001-C Bank of New York 8/4/94* 4/25/01
4/25/01 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 2001-D Bank of New York 8/4/94* 5/24/01
5/24/01 - 6/30/01 (p)
* - Indicates agreement was amended
PSA and PSA Supplement Covenants and Conditions
(a) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 5.02(a), 9(b), 9(c).
(b) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.19(a), 4.19(b),
5.02(a), 9(b), 9(c).
(b) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.13, 5.02(a), 10(b), 10(c).
(c) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.12, 4.13, 4.14, 4.16(a), 4.17(a), 4.20(a), 4.20(f),
4.21(a), 5.02(a), 9(b), 9(c).
(d) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 4.18(b),
5.02(a), 9(b), 9(c).
(e) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 5.02, 10(b), 10(c).
(f) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 5.02(a), 9(b),
9(c).
(g) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 5.02(a),
10(b), 10(c).
(h) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.19(a),
4.19(f), 4.20(a), 5.02(a), 9(b), 9(c).
(i) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 5.03(a), 9(b), 9(c).
(j) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 5.02(a), 10(b), 10(c).
(k) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.19(a), 4.19(b), 5.01, 5.02(a), 10(b),
10(d).
(l) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17, 4.19(a), 4.19(b), 5.01,
5.02(a), 10(b), 10(d).
(m) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.18, 4.19(a)
and (g), 4.20(a), 5.02(a), 9(c), 9(d).
(n) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 5.02, 10(c), 10(d).
(o) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.18,
4.19(a), 5.02(a), 9(c), 9(d).
(p) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.09, 5.02, 7(c).
Report of Independent Accountants
on Applying Agreed-Upon Procedures
MBNA America Bank, N.A.
1100 North King Street
Wilmington, Delaware 19801
and
The Bank of New York
101 Barclay Street
New York, New York 10286
MBNA Master Credit Card Trust II
We have performed the procedures enumerated below, which were agreed to by MBNA America Bank, N.A. ("MBNA") and The Bank of New York,
solely to assist you with respect to the amounts in the "mathematical calculations" set forth in the monthly certificates for each
series (as specified in Attachment A) in the MBNA Master Credit Card Trust II ("Trust"), prepared by MBNA pursuant to subsection
3.04(b) of the Pooling and Servicing Agreement dated as of August 4, 1994, as amended ("Agreement") between MBNA and The Bank of New
York, during the periods specified in Attachment A. This engagement to apply agreed-upon procedures was performed in accordance with
standards established by the American Institute of Certified Public Accountants. The sufficiency of the procedures is solely the
responsibility of MBNA and The Bank of New York. Consequently, we make no representation regarding the sufficiency of the procedures
described below either for the purpose for which this report has been requested or for any other purpose.
Our procedures were as follows: We compared the amounts in the "mathematical calculations" set forth in the monthly certificates for
each series in the Trust, for the months specified in Attachment A, prepared by MBNA pursuant to subsection 3.04(b) of the Agreement
with reports prepared by MBNA's bank card processor or MBNA, which were the source of such amounts.
As a result of the procedures performed we noted that in all instances the amounts in the "mathematical calculations" set forth in
the monthly certificates for each series in the Trust, for the months specified in Attachment A, were in agreement with reports
prepared by MBNA's bank card processor or MBNA.
We were not engaged to, and did not, perform an audit, the objective of which would be the expression of an opinion on the amounts in
the "mathematical calculations" set forth in the monthly certificates for each series in the Trust, prepared by MBNA pursuant to
subsection 3.04(b) of the Agreement or on the reports prepared by MBNA's bank card processor or MBNA. Accordingly, we do not express
such an opinion. Had we performed additional procedures, other matters might have come to our attention that would have been
reported to you.
This report is intended solely for the use of the specified users listed above and should not be used by those who have not agreed to
the procedures and taken responsibility for the sufficiency of the procedures for their purposes.
[GRAPHIC OMITTED][GRAPHIC OMITTED]
August 15, 2001
Attachment A
Pooling and Servicing
Series Agreement Supplement Date Monthly Certificates Tested
- ---------------------------------------------------------------------------------------------------------------------
1994 - C October 26, 1994, as amended December 2000, February and June 2001
1994 - E December 15, 1994, as amended December 2000, February and June 2001
1995 - A March 22, 1995, as amended December 2000, February and June 2001
1995 - C June 29, 1995, as amended December 2000, February and June 2001
1995 - E August 2, 1995, as amended December 2000, February and June 2001
1995 - G September 27, 1995, as amended December 2000, February and June 2001
1995 - J November 21, 1995, as amended December 2000, February and June 2001
1996 - A February 28, 1996, as amended December 2000, February and June 2001
1996 - B March 26, 1996 December 2000, February and June 2001
1996 - C(a) March 27, 1996 December 2000 and February 2001
1996 - D(b) May 1, 1996 December 2000 and February 2001
1996 - E May 21, 1996 December 2000, February and June 2001
1996 - F June 25, 1996, as amended December 2000, February and June 2001
1996 - G July 17, 1996 December 2000, February and June 2001
1996 - H August 14, 1996 December 2000, February and June 2001
1996 - I September 25, 1996 December 2000, February and June 2001
1996 - J September 19, 1996 December 2000, February and June 2001
1996 - K October 24, 1996 December 2000, February and June 2001
1996 - M November 26, 1996 December 2000, February and June 2001
Attachment A (continued)
Pooling and Servicing
Series Agreement Supplement Date Monthly Certificates Tested
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
1997 - B February 27, 1997 December 2000, February and June 2001
1997 - C March 26, 1997 December 2000, February and June 2001
1997 - D May 22, 1997 December 2000, February and June 2001
1997 - E May 8, 1997 December 2000, February and June 2001
1997 - F June 18, 1997 December 2000, February and June 2001
1997 - G June 18, 1997 December 2000, February and June 2001
1997 - H August 6, 1997 December 2000, February and June 2001
1997 - I August 26, 1997 December 2000, February and June 2001
1997 - J September 10, 1997 December 2000, February and June 2001
1997 - K October 22, 1997 December 2000, February and June 2001
1997 - L November 13, 1997 December 2000, February and June 2001
1997 - M November 6, 1997 December 2000, February and June 2001
1997 - O December 23, 1997 December 2000, February and June 2001
1998 - A March 18, 1998 December 2000, February and June 2001
1998 - B April 14, 1998 December 2000, February and June 2001
1998 - C June 24, 1998 December 2000, February and June 2001
1998 - D July 30, 1998 December 2000, February and June 2001
1998 - E August 11, 1998 December 2000, February and June 2001
1998 - F August 26, 1998 December 2000, February and June 2001
1998 - G September 10, 1998 December 2000, February and June 2001
1998 - H(c) September 29, 1998 December 2000 and February 2001
Attachment A (continued)
Pooling and Servicing
Series Agreement Supplement Date Monthly Certificates Tested
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
1998 - I October 22, 1998 December 2000, February and June 2001
1998 - J October 29, 1998 December 2000, February and June 2001
1998 - K November 24, 1998 December 2000, February and June 2001
1998 - L(d) December 22, 1998 December 2000 and February 2001
1999 - A March 25, 1999 December 2000, February and June 2001
1999 - B March 26, 1999 December 2000, February and June 2001
1999 - C May 18, 1999 December 2000, February and June 2001
1999 - D June 3, 1999 December 2000, February and June 2001
1999 - E July 7, 1999 December 2000, February and June 2001
1999 - F August 3, 1999 December 2000, February and June 2001
1999 - G July 29, 1999 December 2000, February and June 2001
1999 - H August 18, 1999 December 2000, February and June 2001
1999 - I September 8, 1999 December 2000, February and June 2001
1999 - J September 23, 1999 December 2000, February and June 2001
1999 - K October 27, 1999 December 2000, February and June 2001
1999 - L November 5, 1999 December 2000, February and June 2001
1999 - M December 1, 1999 December 2000, February and June 2001
2000 - A March 8, 2000 December 2000, February and June 2001
2000 - B March 28, 2000 December 2000, February and June 2001
2000 - C April 13, 2000 December 2000, February and June 2001
2000 - D May 11, 2000 December 2000, February and June 2001
Attachment A (continued)
Pooling and Servicing
Series Agreement Supplement Date Monthly Certificates Tested
- ---------------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------------
2000 - E June 1, 2000 December 2000, February and June 2001
2000 - F June 23, 2000 December 2000, February and June 2001
2000 - G July 20, 2000 December 2000, February and June 2001
2000 - H August 23, 2000 December 2000, February and June 2001
2000 - I September 8, 2000 December 2000, February and June 2001
2000 - J October 12, 2000 December 2000, February and June 2001
2000 - K November 21, 2000 December 2000, February and June 2001
2000 - L(e) December 13, 2000 February and June 2001
2000 - Z March 30, 2000 December 2000, February and June 2001
2001 - A(f) February 20, 2001 June 2001
2001 - B(g) March 8, 2001 June 2001
2001 - C(h) April 25, 2001 June 2001
2001 - D(i) May 24, 2001 June 2001
(a) The last reporting period for 1996-C was March 2001
(b) The last reporting period for 1996-D was April 2001.
(c) The last reporting period for 1998-H was February 2001.
(d) The last reporting period for 1998-L was February 2001.
(e) The first reporting period for 2000-L was January 2001.
(f) The first reporting period for 2001-A was March 2001.
(g) The first reporting period for 2001-B was April 2001.
(h) The first reporting period for 2001-C was May 2001.
(i) The first reporting period for 2001-D was June 2001.
Report of Independent Accountants
MBNA America Bank, N.A.
1100 North King Street
Wilmington, Delaware 19801
and
The Bank of New York
101 Barclay Street
New York, New York 10286
MBNA Master Credit Card Trust II
We have examined management's assertion that MBNA America Bank, N.A.'s ("MBNA"), a wholly owned subsidiary of MBNA Corporation,
controls over the functions performed as servicer of the MBNA Master Credit Card Trust II (the "Master Trust"), including all Series
of the Master Trust, as well as all MBNAseries Notes issued from the MBNA Master Credit Card Note Trust (the "Note Trust", together
with the Master Trust, the "Trust") as specified in Attachment A, are effective, as of June 30, 2001, in providing reasonable
assurance that (a) Trust assets are safeguarded against loss from unauthorized use or disposition, (b) transactions are executed in
accordance with management's authorization in conformity with the MBNA Master Credit Card Trust II Pooling and Servicing Agreement
dated as of August 4, 1994, as amended (the "PSA"), the applicable Pooling and Servicing Agreement Supplement for each Series (the
"PSA Supplements"), the MBNA Credit Card Master Note Trust Indenture dated as of May 24 ("Indenture"), and the MBNAseries Indenture
Supplement dated as of May 24, 2000 ("Indenture Supplement", together with the PSA, PSA Supplements and Indenture, the "Agreements")
as specified in Attachment A, and (c) transactions are recorded properly to permit the preparation of the required financial
reports. This assertion is included in the accompanying report by management titled, "Report of Management on Credit Card and
Consumer Loan Trust Internal Control and Pooling and Servicing Agreement/Indenture Compliance" (the "Report"). Management is
responsible for MBNA's controls over the functions performed as servicer of the Trust. Our responsibility is to express an opinion
on management's assertion based on our examination.
Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and,
accordingly, included obtaining an understanding of the controls over the functions performed by MBNA as servicer of the Trust,
testing and evaluating the design and operating effectiveness of those controls, and such other procedures as we considered necessary
in the circumstances. We believe that our examination provides a reasonable basis for our opinion.
Because of inherent limitations in any control, errors or fraud may occur and not be detected. Also, projections of any evaluation
of the controls over the functions performed by MBNA as servicer of the Trust to future periods are subject to the risk that the
controls may become inadequate because of changes in conditions, or that the degree of compliance with the controls may deteriorate.
In our opinion, management's assertion, that it believes that MBNA's controls over the functions performed as servicer of the Trust
are effective, as of June 30, 2001, in providing reasonable assurance that Trust assets are safeguarded against loss from
unauthorized use or disposition and that transactions are executed in accordance with management's authorization in conformity with
the Agreements and are recorded properly to permit the preparation of the required financial reports, is fairly stated, in all
material respects, based upon the following criteria specified in the Report:
o The controls provide reasonable assurance that funds collected are remitted to the Trustee in accordance with the Agreements.
o The controls provide reasonable assurance that Trust assets are segregated from those retained by MBNA in accordance with
the Agreements.
o The controls provide reasonable assurance that expenses incurred by the Trust are calculated and remitted in accordance with
the Agreements.
o The controls provide reasonable assurance that the additions of accounts to the Trust are authorized in accordance with the
Agreements.
o The controls provide reasonable assurance that the removals of accounts from the Trust are authorized in accordance with the
Agreements.
o The controls provide reasonable assurance that Trust assets amortizing out of the Trust are calculated in accordance with
the Agreements.
o The controls provide reasonable assurance that monthly Trust reports generated in the form of "Exhibits" and provided to the
Trustee are reviewed by a Vice President or above prior to distribution.
o The controls provide reasonable assurance that monthly Master Trust reports generated in the form of "Exhibits" contain all
required information per section 5.02 of the PSA.
o The controls provide reasonable assurance that monthly Note Trust reports generated in the form of "Exhibits" pursuant to
sections 907 and 908 of the Indenture contain all required information.
This report is intended solely for the information and use of the management of MBNA and The Bank of New York, as Trustee of the
Master Trust and Indenture Trustee of the Note Trust, and is not intended and should not be used by anyone other than these specified
parties and anyone who is authorized to receive such information as specified in the Agreements or in the applicable Series' or
MBNAseries Notes' Underwriting/Subscription/Purchase Agreement, as specified in Attachment A. However, this report is a matter of
public record as a result of being included as an exhibit to the annual reports on Form 10-K prepared by MBNA and filed with the
Securities and Exchange Commission on behalf of both the MBNA Master Credit Card Trust II and the MBNA Credit Card Master Note Trust
and its distribution is not limited.
[GRAPHIC OMITTED][GRAPHIC OMITTED]
August 15, 2001
Report of Management on Credit Card and Consumer Loan Trust Internal Control
and Pooling and Servicing Agreement/Indenture Compliance
Trust Internal Control
MBNA America Bank, N.A., ("MBNA" or the "Company"), a wholly owned subsidiary of MBNA Corporation is responsible for establishing and
maintaining effective controls over the functions performed as servicer of MBNA's credit card and consumer loan trusts, listed in
Appendix I (the "Trusts" or individually "Trust"). These controls are designed to provide reasonable assurance to the Company's
management and board of directors that Trust assets are safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization in conformity with the applicable Pooling and Servicing
Agreements, Pooling and Servicing Agreement Supplements, Indenture and MBNASeries Indenture Supplement (together the "Agreements") as
specified in Appendix I, between MBNA as Seller/Transferor and Servicer and the applicable Trustee (specific Agreements and Trustees
are listed in Appendix I) and are recorded properly to permit the preparation of the required financial reports.
There are inherent limitations in any control including the possibility of human error and circumvention or overriding of the
control. Accordingly, even effective controls can provide only reasonable assurance with respect to the achievement of any
objectives of controls. Further, because of changes in conditions, the effectiveness of controls may vary over time.
The Company has determined that the objectives of controls with respect to servicing and reporting of sold loans are to provide
reasonable, but not absolute assurance that:
o Funds collected are remitted to the Trustee in accordance with the Agreements.
o Trust assets are segregated from those retained by MBNA in accordance with the Agreements.
o Expenses incurred by the Trusts are calculated and remitted in accordance with the Agreements.
o The additions of accounts to the Trusts are authorized in accordance with the Agreements.
o The removals of accounts from the Trusts are authorized in accordance with the Agreements.
August 15, 2001
Page 2
Trust Internal Control (continued)
o Trust assets amortizing out of the Trusts are calculated in accordance with the Agreements.
o Monthly Trust reports generated in the form of "Exhibits" and provided to the Trustee are reviewed by a Vice President or
above prior to distribution.
o Monthly Trust reports generated in the form of "Exhibits" contain all information required by the Agreements.
The Company has assessed its controls over the functions performed as servicer of the Trusts in relation to these criteria. Based
upon this assessment, the Company believes that, as of June 30, 2001, its controls over the functions performed as servicer of the
Trusts are effective in providing reasonable assurance that Trust assets are safeguarded against loss from unauthorized use or
disposition and that transactions are executed in accordance with management's authorization in conformity with the Agreements
between MBNA and the applicable Trustees and are recorded properly to permit the preparation of the required financial reports.
Pooling and Servicing Agreement Compliance
The Company is responsible for complying with the covenants and conditions of the Agreements listed in Appendix I to this report.
The Company assessed its compliance with the relevant covenants and conditions identified in Appendix I for each of the Agreements.
Based upon this assessment, MBNA was in material compliance with the relevant covenants and conditions of the Agreements identified
in Appendix I for each of the Agreements during the periods specified in Appendix I. In addition, the Company did not identify any
instances of material non-compliance in performing the assessment.
August 15, 2001
Page 3
MBNA America Bank, N.A. by:
/s/ M. Scot Kaufman
M. Scot Kaufman
Executive Vice Chairman
/s/ Kenneth A. Vecchione
Kenneth A. Vecchione
Vice Chairman and Chief Financial Officer
/s/ Thomas D. Wren
Thomas D. Wren
Senior Executive Vice President and
Treasurer
/s/ Victor P. Manning
Victor P. Manning
Senior Executive Vice President and
Chief Accounting Officer
/s/ Douglas O. Hart
Douglas O. Hart
Senior Executive Vice President
PSA SERVICING
PSA SUPPL. COMPLIANCE
PSA COVENANTS
TRUST TRUSTEE DATE DATE PERIOD AND
CONDITIONS
MBNA Master Credit Card Trust II Series 1994-C Bank of New York 8/4/94* 10/26/94*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1994-E Bank of New York 8/4/94* 12/15/94*
7/1/00 - 6/30/01 (b)
MBNA Master Credit Card Trust II Series 1995-A Bank of New York 8/4/94* 3/22/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-C Bank of New York 8/4/94* 6/29/95*
7/1/00 - 6/30/01 (c)
MBNA Master Credit Card Trust II Series 1995-D Bank of New York 8/4/94* 6/29/95*
7/1/00 - 7/17/00 (c)
MBNA Master Credit Card Trust II Series 1995-E Bank of New York 8/4/94* 8/2/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-F Bank of New York 8/4/94* 8/30/95*
7/1/00 - 9/15/00 (d)
MBNA Master Credit Card Trust II Series 1995-G Bank of New York 8/4/94* 9/27/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1995-I Bank of New York 8/4/94* 10/26/95*
7/1/00 - 11/15/00 (a)
MBNA Master Credit Card Trust II Series 1995-J Bank of New York 8/4/94* 11/21/95*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-A Bank of New York 8/4/94* 2/28/96*
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-B Bank of New York 8/4/94* 3/26/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-C Bank of New York 8/4/94* 3/27/96
7/1/00 - 4/16/01 (a)
MBNA Master Credit Card Trust II Series 1996-D Bank of New York 8/4/94* 5/1/96
7/1/00 - 5/15/01 (a)
MBNA Master Credit Card Trust II Series 1996-E Bank of New York 8/4/94* 5/21/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-F Bank of New York 8/4/94* 6/25/96*
7/1/00 - 6/30/01 (e)
MBNA Master Credit Card Trust II Series 1996-G Bank of New York 8/4/94* 7/17/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-H Bank of New York 8/4/94* 8/14/96
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1996-I Bank of New York 8/4/94* 9/25/96
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1996-J Bank of New York 8/4/94* 9/19/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-K Bank of New York 8/4/94* 10/24/96
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1996-M Bank of New York 8/4/94* 11/26/96
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-B Bank of New York 8/4/94* 2/27/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-C Bank of New York 8/4/94* 3/26/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-D Bank of New York 8/4/94* 5/22/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-E Bank of New York 8/4/94* 5/8/97
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-F Bank of New York 8/4/94* 6/18/97
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1997-G Bank of New York 8/4/94* 6/18/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-H Bank of New York 8/4/94* 8/6/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-I Bank of New York 8/4/94* 8/26/97
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1997-J Bank of New York 8/4/94* 9/10/97
7/1/00 - 6/30/01 (a)
MBNA Master Consumer Loan Trust Series 1997-1 Bankers Trust Company 9/24/97*
9/24/97 7/1/00 - 6/30/01 (k)
MBNA Master Credit Card Trust II Series 1997-K Bank of New York 8/4/94* 10/22/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1997-L Bank of New York 8/4/94* 11/13/97
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1997-M Bank of New York 8/4/94* 11/6/97
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1997-N Bank of New York 8/4/94* 12/9/97
7/1/00 - 11/15/00 (f)
MBNA Master Credit Card Trust II Series 1997-O Bank of New York 8/4/94* 12/23/97
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-A Bank of New York 8/4/94* 3/18/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-B Bank of New York 8/4/94* 4/14/98
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1998-C Bank of New York 8/4/94* 6/24/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-D Bank of New York 8/4/94* 7/30/98
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1998-E Bank of New York 8/4/94* 8/11/98
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1998-F Bank of New York 8/4/94* 8/26/98
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1998-G Bank of New York 8/4/94* 9/10/98
7/1/00 - 6/30/01 (a)
PSA SERVICING
PSA SUPPL. COMPLIANCE
PSA COVENANTS
TRUST TRUSTEE DATE DATE PERIOD AND CONDITIONS
MBNA Master Credit Card Trust II Series 1998-H Bank of New York 8/4/94* 9/29/98
7/1/00 - 3/15/01 (e)
MBNA Master Credit Card Trust II Series 1998-I Bank of New York 8/4/94* 10/22/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-J Bank of New York 8/4/94* 10/29/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-K Bank of New York 8/4/94* 11/24/98
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1998-L Bank of New York 8/4/94* 12/22/98
7/1/00 - 3/15/01 (e)
MBNA Master Credit Card Trust II Series 1999-A Bank of New York 8/4/94* 3/25/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-B Bank of New York 8/4/94* 3/26/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-C Bank of New York 8/4/94* 5/18/99
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1999-D Bank of New York 8/4/94* 6/3/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-E Bank of New York 8/4/94* 7/7/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-F Bank of New York 8/4/94* 8/3/99
7/1/00 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 1999-G Bank of New York 8/4/94* 7/29/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-H Bank of New York 8/4/94* 8/18/99
7/1/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 1999-I Bank of New York 8/4/94* 9/8/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-J Bank of New York 8/4/94* 9/23/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 1999-K Bank of New York 8/4/94* 10/27/99
7/1/00 - 6/30/01 (i)
MBNA Master Credit Card Trust II Series 1999-L Bank of New York 8/4/94* 11/5/99
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 1999-M Bank of New York 8/4/94* 12/1/99
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-A Bank of New York 8/4/94* 3/8/00
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-B Bank of New York 8/4/94* 3/28/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-Z Bank of New York 8/4/94* 3/30/00
7/1/00 - 6/30/01 (j)
MBNA Master Credit Card Trust II Series 2000-C Bank of New York 8/4/94* 4/13/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-D Bank of New York 8/4/94* 5/11/00
7/1/00 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2000-E Bank of New York 8/4/94* 6/1/00
7/1/00 - 6/30/01 (h)
MBNA Master Credit Card Trust II Series 2000-F Bank of New York 8/4/94* 6/23/00
7/1/00 - 6/30/01 (f)
MBNA Master Consumer Loan Trust Series 2000-1 Bankers Trust Company 9/24/97*
6/29/00 7/1/00 - 6/30/01 (l)
MBNA Master Credit Card Trust II Series 2000-G Bank of New York 8/4/94* 7/20/00
7/20/00 - 6/30/01 (f)
MBNA Master Consumer Loan Trust Series 2000-2 Bankers Trust Company 9/24/97*
7/26/00 7/26/00 - 6/30/01 (l)
MBNA Master Credit Card Trust II Series 2000-H Bank of New York 8/4/94* 8/23/00
8/23/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 2000-I Bank of New York 8/4/94* 9/8/00
9/8/00 - 6/30/01 (m)
MBNA Triple A Master Trust Series 2000-1 Bank of New York 8/4/94* 9/28/00 9/28/00 - 6/30/01
(n)
MBNA Triple A Master Trust Series 2000-2 Bank of New York 8/4/94* 9/28/00 9/28/00 - 6/30/01
(n)
MBNA Master Credit Card Trust II Series 2000-J Bank of New York 8/4/94* 10/12/00
10/12/00 - 6/30/01 (o)
MBNA Master Credit Card Trust II Series 2000-K Bank of New York 8/4/94* 11/21/00
11/21/00 - 6/30/01 (f)
MBNA Master Credit Card Trust II Series 2000-L Bank of New York 8/4/94* 12/13/00
12/13/00 - 6/30/01 (m)
MBNA Master Credit Card Trust II Series 2001-A Bank of New York 8/4/94* 2/20/01
2/20/01 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2001-B Bank of New York 8/4/94* 3/8/01
3/8/01 - 6/30/01 (a)
MBNA Master Credit Card Trust II Series 2001-C Bank of New York 8/4/94* 4/25/01
4/25/01 - 6/30/01 (g)
MBNA Master Credit Card Trust II Series 2001-D Bank of New York 8/4/94* 5/24/01
5/24/01 - 6/30/01 (p)
* - Indicates agreement was amended
PSA and PSA Supplement Covenants and Conditions
(a) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 5.02(a), 9(b), 9(c).
(b) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.19(a), 4.19(b),
5.02(a), 9(b), 9(c).
(b) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.13, 5.02(a), 10(b), 10(c).
(c) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.12, 4.13, 4.14, 4.16(a), 4.17(a), 4.20(a), 4.20(f),
4.21(a), 5.02(a), 9(b), 9(c).
(d) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 4.18(b),
5.02(a), 9(b), 9(c).
(e) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 5.02, 10(b), 10(c).
(f) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 5.02(a), 9(b),
9(c).
(g) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.18(a), 5.02(a),
10(b), 10(c).
(h) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.19(a),
4.19(f), 4.20(a), 5.02(a), 9(b), 9(c).
(i) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 5.03(a), 9(b), 9(c).
(j) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 5.02(a), 10(b), 10(c).
(k) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.19(a), 4.19(b), 5.01, 5.02(a), 10(b),
10(d).
(l) PSA Sections - 2.05(d), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(b), 4.03(c).
PSA Supplement Sections - 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17, 4.19(a), 4.19(b), 5.01,
5.02(a), 10(b), 10(d).
(m) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.18, 4.19(a)
and (g), 4.20(a), 5.02(a), 9(c), 9(d).
(n) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 5.02, 10(c), 10(d).
(o) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14(a), 4.15(a), 4.16(a), 4.18,
4.19(a), 5.02(a), 9(c), 9(d).
(p) PSA Sections - 2.05(e), 2.06, 2.07, 2.08(a), 3.02, 3.04, 3.05, 3.06(b), 4.02(a), 4.03(a), 4.03(c), 4.03(d).
PSA Supplement Sections - 3(b), 4.05, 4.06, 4.07, 4.09, 5.02, 7(c).