Exhibit 99.40

MBNA MASTER CREDIT CARD TRUST II

SERIES 1999-L

KEY PERFORMANCE FACTORS
March 31, 2001



Expected B Maturity 10/16/06


Blended Coupon 5.4970%


Excess Protection Level
3 Month Average 7.38%
March, 2001 7.97%
February, 2001 7.35%
January, 2001 6.80%


Cash Yield20.67%


Investor Charge Offs 4.83%


Base Rate 7.86%


Over 30 Day Delinquency 4.90%


Seller's Interest 7.37%


Total Payment Rate14.60%


Total Principal Balance$56,622,749,044.91


Investor Participation Amount$750,000,000.00


Seller Participation Amount$4,172,058,483.42