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For x,\\(y\\in H\\), the functional [\\(x\\otimes y]\\) defined by \\([x\\otimes y](A)=(Ax,y),\\) \\(A\\in M\\), is ultraweakly continuous on M. We say that the algebra M has property \\(({\\mathbb{A}}_ n)\\), where n is a cardinal number, \\(1\\leq n\\leq \\aleph_ 0,\\) if, given an array \\(\\{\\phi_{ij}:\\quad 0\\leq i,j<n\\}\\) of ultraweakly continuous functionals on M, there exist sequences \\(\\{x_ i:\\quad 0\\leq i<n\\}\\) and \\(\\{y_ j:\\quad 0\\leq j<n\\}\\) such that \\([x_ i\\otimes y_ j]=\\phi_{ij}, 0\\leq i,j<n\\). In the present paper we study the properties \\(({\\mathbb{A}}_ n)\\) under the additional assumption that the algebra M is isometrically isomorphic and \\(weak^*\\) homeomorphic to the algebra \\(H^{\\infty}\\) of all bounded analytic functions in the unit disc. The most important feature of our treatment is a powerful dilation theory which shows that algebras \\(M\\simeq H^{\\infty}\\) which have property \\(({\\mathbb{A}}_{\\aleph_ 0})\\) possess an unexpectedly large lattice of invariant subspaces. It is also known that there are many algebras that do have property \\(({\\mathbb{A}}_{\\aleph_ 0})\\). An important case is that of the so-called \\((B\\subset P)_{\\theta}\\) operators [cf. a forthcoming paper by the authors: ''Factoring trace-class operator-valued functions with applications to the class \\({\\mathbb{A}}_{\\aleph_ 0}''\\), J. Oper. Theory].    The study of the properties \\(({\\mathbb{A}}_ n)\\) originated in the invariant subspace problem for operators T such that \\(\\| T\\| \\leq 1\\) and \\(\\sigma(T)\\supset \\{\\lambda:\\quad | \\lambda | =1\\}.\\) For further progress on the lines of this paper see: \\textit{C. Apostol, H. Bercovici, C. Foias} and \\textit{C. Percy}, ''Invariant subspaces, dilation theory, and the structure of the predual of a dual algebra'', J. Funct. Anal., to appear; \\textit{H. Bercovici, B. Cheuvreau, C. Foias} and \\textit{C. Pearcy},part II of this paper, Math. Z., to appear. A unified account of these topics will appear in a book ''Dual algebras, invariant subspaces, and dilation theory'', CBMS Regional Conf. Ser. in Math. 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