/raid1/www/Hosts/bankrupt/TCREUR_Public/020930.mbx             T R O U B L E D   C O M P A N Y   R E P O R T E R

                             E U R O P E

                 Monday, September 30, 2002, Vol. 3, No. 193


                              Headlines

* F I N L A N D *

SONERA CORP.: Launches First 3-G Mobile Communications Services

* F R A N C E *

ALCATEL: To Optimize Power Utility's Current Telecom Network
ALCATEL: Gains Top Spot in Global Optical Transport Market
FUTURES NETWORK: Dealings by Substantial Shareholders
FUTURE NETWORK: Announces Directors' Interests in Shares
NORTEL NETWORKS: Directors Declares Preferred Share Dividend
NORTEL NETWORKS: Announces Percentage of Fixed Dividend Rate
VIVENDI UNIVERSAL: Moody's Maintains Ratings Under Review
VIVENDI UNIVERSAL: S&P Maintains Ratings at CreditWatch
VIVENDI UNIVERSAL: Refuses to Grant Severance Pay to Messier
VIVENDI UNIVERSAL: Head Undecided Over Vivendi Environnement

* I R E L A N D *

AIB: Announces Strategic Partnership With M&T Bank Corporation
AIB: Merger of Allfirst With M&T Not to Affect Ratings - Moody's
AIB: Fitch Affirms Rating on Announced Merger of Allfirst

* P O L A N D *

POLISH STEEL MILL: LNM Group Announces Plan to Acquire Shares

* S W E D E N *

LM ERICSSON: Expands Relationship With Enitel in Nicaragua
LM ERICSSON: Sells Product Development Operations to TietoEnator

* U N I T E D   K I N G D O M *

ABERDEEN ASSET: Shares Went Down on Trust Receivership
BIOCOMPATIBLES INT'L: Announces Goldman Sach's Interest in Shares
BRITISH ENERGY: Hires Salomon Smith Barney as Adviser - Sources
BRITISH ENERGY: Criticisms Hit New Government Loan Anew
BRITISH ENERGY: Government Extends Financial Grant for Two Months
CAC TOOLING: Administrative Receivers Put Assets Up for Sale
CORUS GROUP: Announces Interests of Directors
INVENSYS PLC: Announces Share Interest of Director
INVENSYS PLC: Announces Interests of Director
INVENSYS PLC: Notification of Interests of Director
INVENSYS PLC: Notification of Director's Interests
MARCONI PLC: To Power Telkom Asymmetrical Digital Subscriber Line
WILLIAM L MACLEAN: Administrators Announces Administration
WORLDCOM: ATLANTIC-ACM Says Bankruptcy Will Benefit IDT & Vartec
WORLDCOM INC: Asks Court to Clear Pentagon Purchase Agreement


=============
F I N L A N D
=============


SONERA CORP.: Launches First 3-G Mobile Communications Services
---------------------------------------------------------------
Sonera Corporation (HEX: SRA; Nasdaq: SNRA) launched and
demonstrated the first 3G services to operate on existing mobile
and UMTS networks. Customers will be able to use the services in
the existing mobile network first, and later, in the UMTS
network.

"Mobile phone services targeted at both consumers and businesses
will develop extremely rapidly during the next two years. The
services launched now give a taste of what the new world of
mobile communications will be like. They also represent the first
step of a long development process. The next step will be
piloting these services on a full scale in the UMTS network.
Sonera's goal is to provide services that deploy both the GSM and
the UMTS network," said Executive Vice President Anni
Vepsalainen.

The 3G services launched this autumn will operate initially in
the present mobile network. Commercial services will be launched
in the UMTS network when there are a sufficient number of dual-
mode 3G terminals available and when the network technology has
evolved sufficiently. The new networks will not replace the
current ones, but in the future, different networks will develop
side by side, supplementing one another.

Colour service menu and Message Center for easier use

The first generation of mobile communications was about
transmitting voice, whereas the second generation was about
transmitting voice and text and testing the use of WAP. The third
generation brings visual services with sound and image to mobile
communications in addition to voice and text. Faster data
transmission and terminals with colour displays enable a new kind
of user experience and new kinds of services.

Sonera has developed a new, colour, icon-based service menu for
its customers' use. Instead of long lists of words, the services
activated for the phone are shown on the display as simple icons,
in the same way as on a computer.

Sonera's various messaging services are collected under a new
Message Center, which makes it possible to attend to messaging
and send e-mail, text messages and multimedia messages to one or
more recipients. In the same place, you can also save messages
and contact information. From the Message Center, you can send
pictures from a ready-made selection or pictures you have taken
yourself with an MMS-enabled phone as a traditional postcard to
the recipient's address. A picture you have taken for instance on
a trip and the text you have typed are then printed as a
postcard, which is mailed to the desired address. As the Message
Center operates in the same way on the Internet, you can use it
either with a mobile phone or with a computer.

More content to content services
Utilization of images opens new opportunities for content
services. Initially, it is possible to send pictures, text, sound
and graphics on the networks. In the future, it will also be
possible to send video clips and real-time video. The new
services and features can already be used with mobile phones
provided with a colour display.

The content services to be launched include a news application to
be downloaded to a mobile phone. The service allows you to read
the day's news and weather. The news headlines are updated
whenever the service is started and at 15-minute intervals. You
can also use the service at the same time with other services, in
which case the latest news is shown in the navigation bar of the
phone as a banner. The news service is subject only to the GPRS
data transmission charge.

The latest version of the directory assistance service Finder
utilizes the visual nature of phones with a colour display. The
service is easier to use than before, as you can both make a call
and save a telephone number by simply pressing a text link. If
you wish, you can check the location of the subscription holder's
address on a colour map on the mobile phone screen. The colour
map features operate at first only on Nokia 7650 phones. One
domestic search costs EUR 0.59.

The expanded version of Locater, which operates on all mobile
phones, combines positioning technology with the potential
offered by a colour display. The service renders it possible to
search for 18 different types of services (e.g. pharmacy, gas
station, pizzeria, automatic cash dispenser) anywhere in Finland.
Locater finds the nearest service points and shows their location
on a colour map (the map feature currently operates only on Nokia
7650 phones). In addition to contact information, the service can
also send a separate advertisement message related to the search.
You can save the telephone number of a service point found in the
phonebook of your mobile phone by simply pressing a text link.
The service costs EUR 0.66 per search.

The same positioning feature is utilized by Map service (MMS),
which shows the location of the enquirer on a map. The map view
shown on the phone screen is selected by a text message or
through WAP.

The graphics and Java and Symbian features of new terminals also
enable a new kind of game experience. Sonera's 3G service launch
today will demonstrate games such as, RallyX (by RedLynx), which
will be simultaneously launched. You can play the game either
alone or in teams of up to 20, by taking turns. In RallyX, the
player steers a rally car on one of two alternative tracks and
drives five successive laps on either track, after which the game
shows both the full race time and the best lap time. Downloading
the game to your phone costs EUR 4.95 plus a normal GPRS data
transmission charge.

Third-generation applications for business use
Faster data transmission and new applications have increased the
attractiveness of mobile communications in the business world.
New phones and user interfaces make services more functional and
easier to use. New applications, such as Sonera Mobile Gate,
offer secure and easy-to-use wireless connections to a company's
local area network. In addition, multimedia messaging services
provide new opportunities for companies to increase the
efficiency of their operations.

On September 26, 2002, Sonera will demonstrate these and other
services operating on 2G and 3G networks to give a preview of the
forthcoming world of mobile services. There is a webcast of the
event at www.sonera.com.

For further information, please contact:
Anni Vepsalainen, Executive Vice President, Sonera Corporation
Tel. +358 2040 58810 e-mail: anni.vepsalainen@sonera.com

On Sonera's 3G services: Pekka Keskiivari, Vice President, Sonera
Corporation Tel. +358 40 505 0687 e-mail:
pekka.keskiivari@sonera.com

In the US: Steve Fleischer, Vice President, Sonera Corporation
Tel. +1 908 303 9828 E-mail: steve.fleischer@sonera.com

3G services demonstrated in the event and launched in the autumn
of 2002:

Consumer services:

    Locater, Sept 26 (All WAP phones)
    Finder, Sept 26 (All WAP phones)
    Mappi (SMS and MMS), October (All terminals)
    Map service (MMS), Sept 26 (Nokia 7650)
    Postcard, Sept 26 (Nokia 7650)
    RallyX (RedLynx), Sept 26 (Nokia 7650)
    Summer Games 2004(Mr. Goodliving), Sept 26 (Nokia 7650)
    News, Sept 26 (Nokia 7650)
    Message Center, October (All WAP-phones)
Corporate services:

Sonera Mobile Gate, Sept 26 (All terminals)

Pricing principles: The price of one multimedia message is EUR
0.59, and no separate data transmission charge is collected for
the MMS service. In the case of services not subject to a
separate usage fee, you pay only for the GPRS data transmission.
The GPRS data transmission charge is added to downloadable and
WAP applications. You can monitor the GPRS costs by a separate
text message service (send the message GSALDO to the number
15400).

Services of our cooperation partners:

News service by YLE (Finnish Broadcasting Company), in Finnish
and Swedish (on-demand, or weekly or monthly subscription)
Finnish Meteorological Institute, weather, temperature and wind
forecast, satellite picture

3G services of our cooperation partners, launched previously in
2002:

Local news (Kaleva, Keskipohjanmaa, Keskisuomalainen) Finnish
Meteorological Institute, precipitation radar image and
temperature forecast
    Kauppalehti, daily market overview and share overview
    Traffic situation
    Mobile Avenue, polyphonic ring tones
    MTV3, temperature chart and precipitation radar image
    MTV3, news
    Oikotie, housing advertisements
    Webcam - take a look abroad
    Services demonstrated in the event:

Kauppapaikka: Sonera mEtu and Sonera Shopper

The whole m-commerce chain is demonstrated, based on existing
products, from advertising, through ordering and mobile payment
to delivery.

Sonera's multimedia messaging service: case Engel

Employees of the facilities maintenance company Engel test the
use of multimedia messaging in facilities maintenance operations.

Mobile video messaging with Hantro

Mobile users record short video clips with their phones and send
them wirelessly to e-mail addresses.

WWW browsing

By means of an HTML browser, users can browse existing standard
HTML pages with Java-enabled phones.

Sonera business application: Calendar and Email

Java and colour graphics make the calendar look the same as on a
computer. A real-time connection to your calendar and e-mail from
your mobile phone.

Kauppalehti

Kauppalehti's multimedia messaging service on Helsinki Exchanges
and daily stock exchange news.

MTV3

MTV3's illustrated news, weather information and Hockey Night
player cards on mobile phones as a multimedia messaging service.

Soprano Mobile TV

Trailers for films as a multimedia messaging service.

YLE

Illustrated key news of the day in Finnish and Swedish as a
multimedia messaging service.

Games

Detonate! (Macrospace)-- An adventure game featuring a space
story and a full set of characters.

Goldminer (Macrospace) -- A classic retro-type fast platform game
where the aim is to help Mack the gold miner to advance from one
level to another by collecting all the gold.

AnWiz (AnfyTeam) -- The player helps Arkan Mau to find the ten
magic flowers necessary to prepare a spell and create golden
special items.

Racing Fever Deluxe (Sumea Interactive) -- You have to reach the
next checkpoint in the race before running out of time.

Sonera Corporation (HEX: SRA, NASDAQ: SNRA) is a leading provider
of mobile and advanced telecommunications services. Sonera is
growing as an operator, as well as a provider of transaction and
content services in Finland and in selected international
markets. The company also offers advanced data solutions to
businesses, and fixed network voice services in Finland and
neighbouring markets. In 2001, Sonera's revenues totaled EUR 2.2
billion, and profit before extraordinary items and taxes was EUR
0.45 billion. Sonera employs about 7,400 people. www.sonera.com

CONTACT:  Anni Vepsalainen
          Executive Vice President, Sonera Corporation
          Tel. +358 2040 58810
          E-mail: anni.vepsalainen@sonera.com
              or
          On Sonera's 3G services:
          Pekka Keskiivari, Vice President, Sonera Corporation
          Tel. +358 40 505 0687
          E-mail: pekka.keskiivari@sonera.com
              or
          In the US:
          Steve Fleischer, Vice President, Sonera Corporation
          Tel. +1 908 303 9828
          E-mail: steve.fleischer@sonera.com


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F R A N C E
===========


ALCATEL: To Optimize Power Utility's Current Telecom Network
------------------------------------------------------------
Alcatel, the leading telecom solutions supplier in China,
announced today that it has won an asynchronous transfer mode
(ATM) expansion contract from Shanghai Municipal Electric Power
Company (SMEP).  The win, through Alcatel Shanghai Bell, is
SMEP's biggest ATM project to date.

Under the contract, Alcatel will provide the Alcatel 7470
multiservice platform and the Alcatel 7270 multiservice
concentrator for high-speed data transmission between central
power-control stations, under-control stations and transformer
substations.  After installation, the platforms will greatly
improve SMEP's internal information automatization and upgrade
its existing frame relay network. In addition, the project will
serve as the foundation for a more powerful broadband network for
SMEP's future business.

Andrew Young, President of Alcatel Shanghai Bell, said, "We have
had a close partnership with SMEP for a long time.  This win
proves that we continue to be the customer's first choice.  We
are confident that Alcatel end-to-end telecom solutions can meet
all of our customers' needs."


ALCATEL: Gains Top Spot in Global Optical Transport Market
----------------------------------------------------------
Alcatel announced that it has captured the world's number one
position in both terrestrial and submarine optical transport
markets for the second consecutive quarter in 2002, according to
RHK, a market research and consulting firm.  As a result, Alcatel
led the US$2.86 billion worldwide market for global optical
networking with a 19.4% share-further increasing the lead over
its competitors.

According to RHK's 2Q02 report on "Optical Networks Global
Quarterly Market Shares", Alcatel increased its global market
share in both terrestrial and submarine optical transport in the
second quarter 2002. From a geographic point of view, Alcatel
maintained its leadership in Europe with 27.4% and in ROW (e.g.
CALA, CIS, MEA*) with 18.3%. Furthermore, Alcatel captured the
top spots in the following product segments: next-generation
Optical Edge Devices (multi-service SDH/SONET systems) with 34.2%
and in DWDM extended long haul/ultra long haul with 21.4%.

"During the second quarter in the global optical transport
market, Alcatel's lead on its closest competitor jumped from 3 to
7 points, thanks to its global presence, its impressive growth in
Asia-Pacific and its best-seller OMSN family in ETSI markets-a
next-generation SDH node concept it pioneered in 2000," stated
Stephane Penzo, Optical Networking Analyst at RHK.  He added,
"RHK's research and analysis indicate that the market for such
multi-service aggregation devices will be the largest optical
networking segment by 2004."

"RHK's latest report again confirms Alcatel's worldwide
leadership in optical networking.  Alcatel has reinforced in the
first half of 2002 the leadership it captured over the year
2001", said Christian Reinaudo, president of Alcatel's optics
activities. "RHK's data certifies our success in a very
challenging market environment where our long-term network vision
for transitioning optical infrastructures from existing to future
services and thorough execution have been successful with our
customers."


FUTURES NETWORK: Dealings by Substantial Shareholders
-----------------------------------------------------
Name of company: The Future Network Plc
Name of shareholder having a major interest: Fidelity
International Limited
Name of the registered holder(s) and, if more than one holder,
the  number of shares held by each of them:
CHASE NOMINEES LTD              16,795,472
HSBC                             2,232,425
BANK OF NEW YORK LONDON             65,500
BANKERS TRUST                      137,000
CITIBANK                           218,200
Number of shares/amount of stock acquired: 424,625
Class of security: ordinary shares of 1p each
Date company informed: September 26 2002
Total holding following this notification: 19,448,597
Total percentage holding of issued class following this
notification:
6.05%
Name of contact and telephone number for queries:
Mark Millar
Tel: 01225 822764
Nina Sparrow
Tel: 01225 822834
Date of Notification: 26 September 2002

SCHEDULE

Notification is made in respect of Fidelity International Limited
as parent holding company for various direct and indirect
subsidiaries, including Fidelity Investment Services Ltd,
investment managers for various non-US investment companies and
institutional clients.

The notifiable interests also comprise the notifiable interest of
Mr Edward C. Johnson 3rd, a principal shareholder of Fidelity
International Limited.


FUTURE NETWORK: Announces Directors' Interests in Shares
--------------------------------------------------------
John Bowman, Finance Director, has purchased 50,000 shares, and
not 40,000 shares as previously stated.  All other details remain
unchanged, and the full amended text appears below.'

The Future Network plc, the international specialist consumer
magazine publisher, announces that it received notification on 26
September 2002 that John Bowman, Finance Director, has today
purchased 50,000 shares in the capital of the Company at a price
of 48 pence per 1p ordinary share.  Following this purchase, John
Bowman's holding in the Company is 500,000 shares, representing
0.16% of the Company's issued share capital.

CONTACT: The Future Network plc
         Tel: 01225 442244
         John Bowman
         Finance Director

         Hogarth Partnership
         James Longfield/Georgina Briscoe
         Tel: 020 7357 9477


NORTEL NETWORKS: Directors Declares Preferred Share Dividend
------------------------------------------------------------
The board of directors of Nortel Networks Limited declared a
dividend on the outstanding Cumulative Redeemable Class A
Preferred Shares Series 5 [TSX: NTL.PR.F], the amount of which
will be calculated by multiplying (a) the average prime rate of
Royal Bank of Canada and Toronto-Dominion Bank during October
2002 by (b) the applicable percentage for the dividend payable
for September 2002, as adjusted up or down by a maximum of 4
percentage points (subject to a maximum applicable percentage of
100 percent) based on the weighted average trading price of such
shares during October 2002, in each case as determined in
accordance with the terms and conditions attaching to such
shares. The dividend is payable on November 12, 2002 to
shareholders of record at the close of business on October 31,
2002.

Nortel Networks is an industry leader and innovator focused on
transforming how the world communicates and exchanges
information. The company is supplying its service provider and
enterprise customers with communications technology and
infrastructure to enable value-added IP data, voice and
multimedia services spanning Metro and Enterprise Networks,
Wireless Networks and Optical Networks. As a global company,
Nortel Networks does business in more than 150 countries.

CONTACT:  Investors:
          Nortel Networks
          Tel: 888-901-7286
          Tel: 905-863-6049
          E-mail: investor@nortelnetworks.com


NORTEL NETWORKS: Announces Percentage of Fixed Dividend Rate
------------------------------------------------------------
Nortel Networks Limited announced that the fixed dividend rate
for its Non-Cumulative Redeemable Class A Preferred Shares Series
8 will be equal to 80% of the yield on five-year non-callable
Government of Canada bonds to be determined on November 11, 2002.
The Series 8 preferred shares will be issued as of December 1,
2002 to holders of Non-Cumulative Redeemable Class A Preferred
Shares Series 7 of Nortel Networks Limited [TSE:NTL.PR.G] who
exercise their right to convert their Series 7 preferred shares,
on a one-for-one basis, provided that a minimum number of Series
7 preferred shares are tendered for conversion. If issued, the
Series 8 preferred shares will pay, on a quarterly basis, as and
when declared by the Board of Directors of Nortel Networks
Limited, a cash dividend for the following five years based on
this fixed rate, which will be published on or before November
14, 2002 in several Canadian newspapers. Holders of Series 7
preferred shares will receive a notice summarizing their
conversion right.

Effective as of December 1, 2002, holders of Series 7 preferred
shares who continue to hold such shares will begin to receive a
monthly floating rate dividend as and when declared by the Board
of Directors of Nortel Networks Limited, in lieu of the existing
quarterly fixed rate dividend of 4.9%. The floating rate dividend
will be based on the average prime rate of two Canadian banks in
effect for each day of the month. The rate for December 2002 will
be 80% of the prime rate, and for each succeeding month will be
the previous month's rate, adjusted based on the trading price of
the Series 7 preferred shares, up to a maximum of 100% of the
prime rate.

Nortel Networks is an industry leader and innovator focused on
transforming how the world communicates and exchanges
information. The company is supplying its service provider and
enterprise customers with communications technology and
infrastructure to enable value-added IP data, voice and
multimedia services spanning Metro and Enterprise Networks,
Wireless Networks and Optical Networks. As a global company,
Nortel Networks does business in more than 150 countries.

CONTACT: Investors:
         Nortel Networks
         Tel: 888-901-7286
         Tel: 905-863-6049
         E-mail: investor@nortelnetworks.com


VIVENDI UNIVERSAL: Moody's Maintains Ratings Under Review
---------------------------------------------------------
Moody's Investors Service said the ratings of Vivendi Universal
remain under review for possible downgrade until it implements
its strategic plans.

On Wednesday, the media company announced to sell assets to raise
a total headline proceeds of EUR1.1 billion, and will wrap up
asset sales to gather EUR5 billion over the next nine months.
Vivendi also disclosed that it received a new EUR3 billion
facility and is expecting to extend a US$1.6 billion bridge
facility at its entertainment business, Vivendi Universal
Entertainment.

Until Vivendi closes these transactions, Moody's says, the
company "remains highly dependent on the continuing support and
co-operation of its banks."

Moody's advises the company to "carefully husband its cash
resources to avoid pressure on its liquidity position."

The rating agency said it would monitor further developments
relating to the company's decision on the future of its
investment in Cegetel and Vivendi Environnement, which up to this
time, remains open.

Ratings that remain under review for possible downgrade are:

Vivendi Universal SA: - senior unsecured ratings at B1
- senior implied rating at Ba2.

Houghton Mifflin Company: - senior unsecured ratings at Ba2.

CONTACT:  VIVENDI UNIVERSAL
          42 avenue de Friedland
          75380 Paris Cedex 08, France
          Phone: +33-1-71-71-10-00
          Fax: +33-1-71-71-11-79
          Home Page: http://www.vivendiuniversal.com


VIVENDI UNIVERSAL: S&P Maintains Ratings at CreditWatch
-------------------------------------------------------
Standard & Poor's Ratings Services maintained Vivendi Universal's
rating at CreditWatch until the media company completes its
refinancing transactions.

The company's chairman, Jean-Rene Fourtou presented on Wednesday,
the company's strategic plan for the next 18 months, which
includes refinancing of US subsidiary Vivendi Universal
Entertainment's US$1.62 billion bridge loan maturing November 3,
and obtaining waivers for negative pledge covenants in place in
two syndicated credit lines.

As the company wraps up these deals, the rating agency says it
will as well monitor Vivendi's medium-term strategy for its core
assets and execution of the asset-disposal plan.

Vivendi aims to reduce the company's debt through asset disposal
that is expected to raise EUR12 billion over the next 18 months.

The disposals of Telepiu and Canal+ Technologies did not help
much in easing the group's tight liquidity position.


VIVENDI UNIVERSAL: Refuses to Grant Severance Pay to Messier
------------------------------------------------------------
The board of Vivendi Universal denied any severance payment for
Jean-Marie Messier, the director of Vivendi Environnement, a
water distribution business, the Financial Times reports.

Chief Executive Fourtou said that the company is also collecting
the US salary paid to Mr. Messier by mistake in July.

Mr. Messier earlier refused to resign his post as director of the
water utility.  His negative response has something to do with
negotiations over his package, the Financial Times cited insiders
in the company as saying.

Vivendi Universal also plans to sell the ousted director's
US$17.5 million New York apartment as the media company collects
peripheral assets.

The EUR12 billion debt reduction will precipitate the sell-off of
other assets, including planes, a Venetian palazzo, an orange
juice maker in China, a chateau outside Paris and an aircraft
leasing company.

According to the Financial Times, the sale will clear a
controversial question of the group's ownership of an Airbus,
which Mr. Messier had earlier denied.

Vivendi had indeed confirmed the company owns an Airbus, a Falcon
jet and three Gulfstream jets. It is yet to be ascertained
whether Vivendi directly owns the jets or has rights through its
aircraft leasing, Aeroservices.

CONTACT:  VIVENDI UNIVERSAL
          42 avenue de Friedland
          75380 Paris Cedex 08, France
          Phone: +33-1-71-71-10-00
          Fax: +33-1-71-71-11-79
          Home Page: http://www.vivendiuniversal.com


VIVENDI UNIVERSAL: Head Undecided Over Vivendi Environnement
------------------------------------------------------------
The chairman of media company Vivendi Universal admits he has "no
clear strategy" for its holdings in telecom operator Cegetel and
former unit Vivendi Environnement, AFX says.

Meanwhile, a Financial Times report cited insiders saying that
Mr. Fourtou plans to sell the group's 40.8% stake in the water
distributor, but was anxious not to depress the utility's share
price.

He was reportedly vexed at Vivendi Environnement's chief
executive, who suggested that he should give the shares back to
shareholders.  Mr. Fourtou promised not to offer the shares on
the open market for at least 18 months, as earlier agreed with
the water utility.

As for the media giant's 44% stake in Cegetel, the chairman said
he would decide on the issue by year-end.

Analyses earlier suggest that Vivendi Universal increase its
stake in Cegetel to consolidate Cegetel's strong cash flows.

According to the AFX report, analysts labeled Mr. Fourtou's
strategic plans delivered Wednesday, as disappointing and lacking
of concrete deals to support the EUR5 billion disposals over the
coming nine months.


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AIB: Announces Strategic Partnership With M&T Bank Corporation
--------------------------------------------------------------
Allied Irish Banks, p.l.c. [NYSE:AIB] Dublin, Ireland and M&T
Bank Corporation [NYSE:MTB] Buffalo, NY jointly announced that
they have entered into a strategic partnership designed to create
a major U.S. regional bank in a $3.1 billion transaction (based
on 30 day rolling average share price of M&T Bank).

The merger of M&T and Allfirst Financial Inc. will create a
strong mid-Atlantic banking franchise with over 700 branches in
six states and the District of Columbia, and a leading deposit
market share in the combined area of upstate New York, central
Pennsylvania and Maryland ("Enlarged M&T"). The expanded
franchise will be amongst the top twenty largest US banking
companies with pro-forma combined assets of approximately $49
billion as of June 30, 2002. Allfirst's primary banking
subsidiary, Allfirst Bank, will be merged into Manufacturers and
Traders Trust Company (M&T Bank), M&T's principal commercial
banking subsidiary. Key details of the merger are attached.

Partnership overview

Long-term strategic partnership underpinned by:
- strong alignment between management and shareholders;
- reciprocal Board representation;
- AIB's involvement on key M&T Board committees;
- the merged entity will be managed by M&T's proven management
team;
- key AIB executive to join M&T top management team;
- AIB receives 22.5% stake in the Enlarged M&T plus $886 million
in cash;
- It is expected that approx. $450 million will be used to buy
back AIB shares;
- Significant synergies are expected to be realised:
- cost savings of $100 million; $60 million expected in 2003;
- Merger expected to be earnings enhancing for both partners;
- Merger transforms both franchises' position in U.S. regional
banking;
- Combined franchise will have a leading market share in a region
which includes six states and the District of Columbia,
equivalent to the 6th largest state in the country in terms of
deposits and the 5th largest state in terms of population.

Well positioned for future expansion, post integration.
M&T's track record as a consistently best in class performer will
be applied to developing Allfirst's strong regional franchise in
growth geographies. Since 1983, M&T has achieved:

- a compound annual growth of 25% in cash earnings per share;
- a compound annual rate of return to shareholders of 24%;
- the highest share price appreciation of any of the top 100 U.S.
banks;
- the sixth highest return to shareholders compared with all
companies in the Fortune 500 since 1981.

M&T's board of directors received a financial fairness opinion
from Lehman Brothers, Inc. and was represented by the legal firm
of Arnold & Porter. AIB's board of directors received financial
advice from AIB Corporate Finance and a financial fairness
opinion from Merrill Lynch. AIB's board of directors was
represented by the law firm of Wachtell, Lipton, Rosen and Katz.

Michael Buckley, Group Chief Executive, AIB said, "AIB's
partnership with M&T is the ideal opportunity for us to
reposition and strengthen our involvement in U.S regional
banking. Following a comprehensive review of our strategic
options, I believe that we have found in M&T a partner with whom
we share a common ethos. Together we create a long term,
sustainable growth proposition that is mutually beneficial and
which will create compelling value for AIB shareholders".

Robert G. Wilmers, Chairman, President and CEO of M&T said,
"Allfirst is the perfect partner for our growing mid-Atlantic
presence. Allfirst is in growing markets, they have strong market
share, and business strengths that will enhance our own operating
mix. We anticipate a smooth integration of our businesses, great
service for our new and old customers, while we continue to
enhance value for our shareholders."

About AIB
AIB Group is Ireland's leading banking and financial services
organisation. It operates principally in Ireland, Britain, the
USA and Poland.

CONTACT:  Alan Kelly
          Head of Group Investor Relations
          AIB Group
          Bankcentre
          Ballsbridge
          Dublin 4
          Tel: +353-1-6600311 Ext 12162

          Catherine Burke
          Head of Corporate Relations
          AIB Group
          Bankcentre
          Ballsbridge
          Dublin 4
          Tel: +353-1-641 3894
          Mob: +353 86 2506303

          Michael S. Piemonte
          Head of Investor Relations,
          M&T Bank,
          One, M&T Plaza,
          Buffalo,
          New York.
          Tel: +716-842-5138


AIB: Merger of Allfirst With M&T Not to Affect Ratings - Moody's
----------------------------------------------------------------
Moody's said it does not expect the news of the merger of Allied
Irish Bank's U.S. subsidiary with U.S. bank M&T Bank Corporation
to affect the Aa3/P-1/B ratings of the Irish bank.

A report from The Wall Street Journal yesterday stated that
Allied Irish Bank is selling Allfirst Financial Inc. to the M&T
Bank for US$3 billion.

Under the deal, Allied Irish would retain about 22% of the newly
combined company, although industry experts also foresee AIB
gradually abandoning the stake.

The rating agency believes that the sale will reduce management
time spent on overseeing and developing the business.  The bank's
ratings are maintained by positive results in the domestic Irish
market.

Moody's signed to continue to monitor AIB's US strategy.


AIB: Fitch Affirms Rating on Announced Merger of Allfirst
---------------------------------------------------------
Fitch Ratings has placed the ratings for M&T Bank Corporation
(MTB, 'A/F1') and Allfirst Financial Inc. (Allfirst, 'A+/F1') and
their principal subsidiaries on Rating Watch Negative in response
to today's announced merger agreement between MTB and Allfirst.
Fitch also affirms the ratings of Allfirst's parent company,
Allied Irish Banks (AIB, 'AA-/F1+').

The announced transaction outlines the merger of Allfirst into
MTB. The merger would result in MTB's geographic footprint
expanding with the addition of some attractive Mid-Atlantic
markets. The merger is subject to shareholder and regulatory
approvals and projected to close in the first quarter of 2003.
Capital levels of the combined entity would decline significantly
from MTB's current and historic levels that have been in the
lower range of its rating category. Tangible equity is projected
at approximately 4.5% of tangible assets at the time of the
merger with expectations for capital to build to pre-acquisition
levels one year after the close of the merger. In addition to the
impact on capitalization, the transaction does present
significant integration and operational risks as MTB digests its
largest acquisition to date. MTB does have a successful track
record of integrating acquisitions and historically strong
internal equity generation.

Allfirst's current ratings incorporate a higher level of support
from its parent, AIB, which would not remain in effect after the
transaction. Fitch affirms AIB's ratings at this time and notes
that the transaction would result in an increase in capital at
AIB.

A key to the resolution of the Rating Watch will be Fitch's level
of comfort with the combined entity's capital position and
capital management plans post merger. A negative resolution would
likely be limited to a one notch downgrade in MTB's current long-
term senior and individual ratings.

The following ratings for M&T Bank Corporation and Allfirst
Financial Inc. are placed on Rating Watch Negative:

M&T Bank Corporation

--Long-term senior, 'A';
--Short-term nondeposit obligations, 'F1';
--Individual, 'B'.

Manufacturers & Traders Trust Company
M&T Bank, National Association

--Long-term deposits, 'A+';
--Long-term senior, 'A';
--Short-term deposits, 'F1';
--Short-term nondeposit obligations, 'F1';
--Individual, 'B'.

M&T Capital Trust I-III

--Trust preferred, 'A-'.

Allfirst Financial Inc.

--Long-term senior, 'A+';
--Short-term nondeposit obligations, 'F1';
--Individual, 'B/C';
--Support, '3'.

Allfirst Financial Center, N.A.
Allfirst Bank

--Long-term deposits, 'A+';
--Long-term senior, 'A+';
--Short-term deposits, 'F1';
--Short-term nondeposit obligations, 'F1';
--Individual, 'B/C';
--Support, '3'.

The following ratings are affirmed:
Allied Irish Banks

--Long-term senior, 'AA-';
--Short-term, 'F1+';
--Individual, 'B';
--Support, '2';
--Rating Outlook Stable.
M&T Bank Corporation Manufacturers & Traders Trust Company M&T
Bank, National Association

--Support '5'.

CONTACT:  Fitch Ratings
          Doris Hoffmann
          Phone: 312/368-2057 (Chicago)
          Kenneth Ritz
          Phone: 212/908-0368 (New York)


===========
P O L A N D
===========


POLISH STEEL MILL: LNM Group Announces Plan to Acquire Shares
-------------------------------------------------------------
Steelmaker LNM Group is interested in buying shares in troubled
Polish Steel Mills (PHS), says the Warsaw Business Journal.

Representatives of LNM are in negotiations about a possible deal
with the government in Warsaw.

LNM's chairman, Lakshmi N. Mittal, outlined his plan of helping
Polish Steel Mills recovery and expanding cooperation with LNM
partners to develop exports through the group's international
network.

The LNM Group owns and operates a series of manufacturing
operations around the world, each of which is strategically
located and boasts an integrated and extensive infrastructure.

TCR-Europe reported earlier that the Polish company is
undertaking extensive restructuring that will result to the
closures of its three sections at the Sendzimira Steel Mill.

The Warsaw Voice in March ran an article saying negotiations with
the European Union on competition policy will require
restructuring in the Polish steel sector.

According to the article, the Industrial Development Agency,
which will support the restructuring of the sector, estimates the
value of the future Polskie Huty Stali (PHS) holding at US$500
million (over PHL2 billion).

CONTACT:  LNM Group
          Berkeley Square House
          7th Floor Berkeley Square
          London, W1X 5PN
          United Kingdom
          Home Page: http://www.thelnmgroup.com
          Phone: [+44] 171 629 7988
          Fax: [+44] 171 629 7993
          Contact:  Lakshmi N. Mittal, Chairman and CEO


===========
S W E D E N
===========


LM ERICSSON: Expands Relationship With Enitel in Nicaragua
----------------------------------------------------------
Ericsson (NASDAQ:ERICY) and Enitel (Empresa Nicaraguense de
Telecomunicaciones, S.A) have expanded their existing mobile
systems relationship to include a contract for one of Ericsson's
ENGINE Access Solutions.

Under the terms of the agreement, Ericsson will supply 50,000
fixed telephony lines to Enitel in Nicaragua.

"The expansion of our existing fixed network marks the second
major contract signed with Ericsson recently," said Carlos Ramos,
CEO of Enitel. "Nicaragua is experiencing a rapid change in the
telecom sector, and Enitel is a key driver in the privatization
and liberalization of the market. Our partnership with Ericsson,
the leading telecom supplier, will enable us to build a multi-
service network integrating ENGINE with our Ericsson GSM mobile
system."

These networks will be interconnected using a SDH backbone and
optical access transport solution as well as a microwave
transmission access network also provided by Ericsson.

"We are very pleased to introduce ENGINE in Nicaragua together
with Enitel," said Urban Gillstrom, President of Ericsson in
Central America. "This not only reinforces Ericsson's position as
the leading supplier of multi-service networks in Central
America, but also strengthens our position as a leading mobile
and broadband Internet communications supplier."

The fixed network will offer narrow and broadband services,
including the POTS, ISDN, ADSL and SHDSL, with an initial
capacity up to 50,000 users. The GSM network (announced on 12
July 2002) will have a capacity of 200,000 users, including
services like voice and data (short message service), voicemail
service, GSM Pro and prepaid platform.

"We look forward to continuing our strong partnership with
Enitel, and we are proud to be a key partner in Enitel's plans to
further develop telecommunications in the country," said Mats V.
Otterstedt, General Manager for Ericsson Nicaragua.

Ericsson is shaping the future of Mobile and Broadband Internet
communications through its continuous technology leadership.
Providing innovative solutions in more than 140 countries,
Ericsson is helping to create the most powerful communication
companies in the world.
Read more at http://www.ericsson.com/press

About Enitel

Enitel was recently privatized and is now transforming the
company into a customer-oriented business. Enitel intends to
satisfy its clients with customized solutions based on their
telecommunications need. In less than a year, Enitel will have
increased the country's teledensity from 2.5%, the lowest in
Central America, to 6%. This will be the result of the
investments in a new Mobile Network as well as investments to
increase the number of fixed lines before the end of 2002.

About ENGINE

ENGINE is Ericsson's global multi-service network offering for
network operators, designed for real-time services; a carrier-
class network able to carry large and growing volumes of IP-based
traffic. ENGINE efficiently builds new and migrates operators'
current circuit-switched networks into a single next generation
network, based on ATM and IP packet switching technologies.
Ericsson's access portfolio comprises end-to-end solutions and
access technologies like fiber Ethernet, copper, and wireless
technologies.

Ericsson has numerous worldwide commercial agreements for ENGINE
solutions including BT, Telmex, Skanova, eircom, Song Networks,
Telia International Carrier, KPN, Comensus, Edisontel and others.
To learn more about Ericsson's ENGINE, please visit:
http://www.ericsson.com/broadband

CONTACT:  Ericsson
          Kathy Egan
          Phone: 212/685-4030
          E-mail: Pressrelations@ericsson.com
           or
          Glenn Sapadin
          Phone: 212/685-4030
          E-mail: Investor.relations@ericsson.com


LM ERICSSON: Sells Product Development Operations to TietoEnator
----------------------------------------------------------------
Ericsson (Nasdaq:ERICY) has today signed an agreement with
TietoEnator to sell its development operations in Karlstad,
Lulea, Umea, and Skelleftea in Sweden.

This is in line with Ericsson's ongoing concentration of
development activities.

TietoEnator will take over approximately 860 employees involved
in software development for mobile and fixed systems. The value
of the sale is approximately SEK 500 million.

"Ericsson sees TietoEnator as an important future supplier and
strategic partner to the company," says Per-Arne Sandstrom, Chief
Operating Officer of Ericsson. "The sale is another step in our
overall strategy to consolidate and streamline our development
activities."

"Telecom is a long term growth market and it is of great
strategic importance to us to establish this partnership," says
Ake Plyhm, deputy CEO of TietoEnator. "Ericsson is definitely an
important partner to us."

The transfer of Ericsson's development operations to TietoEnator
will take place in the beginning of November 2002, pending
Swedish Competition Authority.

Ericsson is shaping the future of Mobile and Broadband Internet
communication through its continuous technology leadership.
Providing innovative solutions in more than 140 countries,
Ericsson is helping to create the most powerful communication
companies in the world.

CONTACT:  Ericsson
          Media
          Ase Lindskog
          Phone: +46 730 24 48 72
          E-mail: ase.lindskog@lme.ericsson.se
             or
          Kathy Egan
          Phone: 212/685-4030
          E-mail: Pressrelations@ericsson.com
            or
          Investors
          Gary Pinkham
          Phone: +46 8 719 0858
                 +46 730 371 371
          E-mail: investor.relations@ericsson.com
            or
          Glenn Sapadin
          Phone: 212/685-4030
          E-mail: Investor.relations@ericsson.com


===========================
U N I T E D   K I N G D O M
===========================


ABERDEEN ASSET: Shares Went Down on Trust Receivership
------------------------------------------------------
The shares of Aberdeen Asset Management became the worst
performing second-line issues after reports that it has placed a
fourth trust into receivership and made eight of its leading fund
managers redundant. According to an AFX report, the shares
declined 4.41% at 5 to 108-1/2.

On Wednesday, the firm announced that another of its split caps,
Aberdeen Preferred Income Trust, had appointed receivers as a
result of continuing deterioration in the value of the company's
portfolio assets.

The administrative receivers are Tom Burton and Maggie Mills, two
partners of Ernst & Young LLP.

All classes of the company's securities were suspended from
trading on the London Stock Exchange and from the Official List
of the Financial Services Authority.

Aberdeen Asset Management is the first Scottish financial service
provider to be listed in London's FTSE 250 stock index.  The
company offers individual and institutional clients about 30
investment and closed-end funds and nearly 30 unit trusts in the
UK.  It also has offshore investment funds in the Channel
Islands, equity funds in Australia, unit trusts in Singapore, and
some 20 sub-funds in Luxembourg.  It offers investment management
to institutional and retail clients in the U.S. through a joint
venture with The Phoenix Companies, which also own more than 20%
of the company.

CONTACT:  ABERDEEN ASSET MANAGEMENT PLC
          1 Albyn Place
          Aberdeen, Grampian AB10 1YG
          United Kingdom
          Phone: +44-1224-631-999
          Fax: +44-1224-647-010
          Home Page: http://www.aberdeen-asset.com


BIOCOMPATIBLES INT'L: Announces Goldman Sach's Interest in Shares
-----------------------------------------------------------------
The Company was advised that, as at close of business on 24
September 2002, The Goldman Sachs Group, Inc. was interested in
1,340,527 Ordinary 16 1/9p shares representing 3.01% of its
issued ordinary share capital.

CONTACT: Biocompatibles International plc
         Tel: +44 (0)1252 732732
         Crispin Simon, Chief Executive
         Swag Mukerji, Finance Director
         Financial Dynamics
         Tel: +44 (0)20 7831 3113


BRITISH ENERGY: Hires Salomon Smith Barney as Adviser - Sources
---------------------------------------------------------------
British Energy has hired Schroder Salomon Smith Barney, the
investment banking arm of Citigroup, as advisor alongside with
Lazard, Reuters reports citing sources close to the negotiations
between the nuclear generator and the U.K. government.

According to the sources, the U.S. firm will play a larger role
in the rescue talks, putting aside long-term startegic adviser,
Lazard, which cannot compete in the former's capital markets
operations.

"The idea is to ... provide some complementary skills,
particularly on the financing and market-related issues," one
source said.

Privately owned Lazard, which focuses on corporate finance
advisory, will remain as British Energy's adviser on the sale of
U.S.-based AmerGen Energy Co., say banking sources.

All the parties involved declined to comment on the report.


BRITISH ENERGY: Criticisms Hit New Government Loan Anew
-------------------------------------------------------
The new GBP650 million lifeline that the Trade and Industry
provided the troubled nuclear power generator, British Energy,
was once again the subject of criticism, according to Times
Online.

Greenpeace, an organisation that uses non-violent means to expose
global environmental problems, questioned the legality of the
loan, arguing that the aid had not been approved by European
regulators.

AES Drax Power, owner of U.K.'s largest coal-fired power station,
on the other hand, complained that the arrangement would affect
power prices.

Other opinions view the bailout as a risk, a futile effort to
save the ailing power generator, which supplies one-fifth of UK's
energy needs.

British Energy and the U.K. government are currently discussing
plans to save the business over a longer term.

While the company is proposing for an exemption from the climate
change levy, Martin O'Neill, chairman of the Trade and Industry
Select Committee, rule out the motion saying it would not help
much.

Mr. O'Neill also suggested a restructuring of the management
board to drive out negative concerns on the company's financial
management.

CONTACT:  BRITISH ENERGY PLC
          3 Redwood Crescent, Peel Park
          East Kilbride, Strathclyde G74 5PR
          United Kingdom
          Phone: +44-135-526-2000
          Fax: +44-135-556-5656F
          Home Page: http://www.british-energy.com


BRITISH ENERGY: Government Extends Financial Grant for Two Months
-----------------------------------------------------------------
The Board of British Energy plc announces that it has reached
agreement with the U.K. Government on extending the facility
agreement entered into on 9 September 2002, for a further two
months. This will provide business stability and security whilst
talks on the long-term structure of the Company continue.

The facility will mature on 29 November 2002 and will be
increased from £410m to up to £650m to provide working capital
for the business and collateral to support the trading operations
in the UK and North America.

The facility will be cross-guaranteed by principal group entities
and secured by certain group assets. It also contains a
requirement to provide further first ranking fixed and floating
charge security to the Government if so requested.

The facility is subject to customary conditions precedent, which
the Company fully expects will be satisfied by close of business
on 27 September 2002.

The Board is firmly of the opinion that this provides the
appropriate route at this time for all stakeholders and is
working closely in conjunction with its advisors to develop
proposals on the future structure of the Company. However, if
further discussions are not successful, and there can be no
guarantee that they will be, the Company may be unable to meet
its financial obligations as they fall due and therefore the
Company may have to take appropriate insolvency proceedings. At
this stage there can be no certainty about the final shape of any
restructuring or whether it will preserve value for investors.

On reaching the agreement Robin Jeffrey, Executive Chairman of
British Energy said, 'This enables us to continue to operate, and
to ensure that our objective of maintaining safe operations will
be met whilst restructuring options are developed. I would like
to thank all our employees for their ongoing commitment and the
support shown to the Company by all our stakeholders'.

Due to the current circumstances the Company has decided not to
make a pre-close trading statement.

Notes:
1) The loan is guaranteed by British Energy plc, British Energy
Generation (UK) Limited, British Energy Generation Limited,
British Energy Power and Energy Trading Limited, British Energy
Investment Limited, District Energy Limited, British Energy
International Holdings Limited, British Energy US Holdings Inc.,
British Energy L.P., British Energy (Canada) Limited, Bruce Power
Investments Inc. and Bruce Power L.P.

2) Security for the loan has been given by British Energy plc,
British Energy Power and Energy Trading Limited, British Energy
Generation Limited, District Energy Limited, British Energy
Generation (UK) Limited, British Energy International Holdings
Limited, British Energy (Canada) Limited (the holding company of
the group's Canadian Interests), British Energy Investment
Limited and British Energy US Holdings Inc. (the holding company
of the group's United States interests).

CONTACT: Paul Heward
         Investor Relations
         Tel: 01355 262 201


CAC TOOLING: Administrative Receivers Put Assets Up for Sale
------------------------------------------------------------
The Joint Administrative Receivers, David Langton and Richard
Rees, offer for sale the business and assets of this High Wycombe
based designer and manufacturer of tooling with sizes ranging
from 100kg to 35,000kg. The group comprises of CAC Tooling
Holdings Limited, Penton Tools Limited, Vogue Moulds Limited and
Tool Teck (Wales) Limited.

Principal features of the business include:
- Modern manufacturing facility for mould tools
- Long leasehold and leasehold properties located close to
Junction 4, M40
- Advanced range of CNC machining centres
- Blue chip customer base in the automotive, IT and electronics
industries
- Annual turnover of £6.6m and 43 employees

CONTACT: Alan Limb or Charles Innes
         PricewaterhouseCoopers
         35 Bull Street
         Birmingham B4 6JT
         Tel: 0121 265 5000
         Fax: 0121 265 5651
         E-mail: Charlotte Lockwood - Marketing Manager


CORUS GROUP: Announces Interests of Directors
---------------------------------------------
Name of company: Corus Group plc
Name of director: Anthony Hayward
Name of the registered holder(s) and, if more than one holder,
the number of shares held by each of them (if notified): Anthony
Hayward
Number of shares / amount of stock acquired: 11,193
Percentage of issued class: 0.00036
Class of security: Ordinary shares of 50p
Price per share: 44p
Date of transaction: September 23 2002
Date company informed: September 23 2002
Total holding following this notification: 11,193
Total percentage holding of issued class following this
notification:
0.00036
Name of contact and telephone number for queries:
Theresa Robinson
Tel: 020 7717 4528
Name and signature of authorised company official responsible for
making this notification: Theresa Robinson
Date of Notification: September 26 2002


INVENSYS PLC: Announces Share Interest of Director
--------------------------------------------------
Name of company: Invensys plc
Name of director: Lord Marshall
Name of the registered holder(s) and, if more than one holder,
the number of shares held by each of them (if notified): Lord
Marshall
Number of shares/amount of stock acquired: 298
Percentage of issued class: 0.000008514%
Class of security: Ordinary shares of 25p each
Price per share: 77.50p
Date of transaction: September 26 2002
Date company informed: September 26 2002
Total holding following this notification: 73,621
Total percentage holding of issued class following this
notification: 0.0021035%
Name of contact and telephone number for queries:
Victoria Scarth
Senior Vice President
Corporate Marketing & Communications
Tel: 020 7821 3712.
Name of Company official responsible for making notification:
Emma Sullivan
Assistant Secretary


INVENSYS PLC: Announces Interests of Director
---------------------------------------------
Name of company: Invensys plc
Name of director: Sir Philip Beck
Number of shares / amount of stock acquired
Total of 4,457 acquired comprising:
1) 664 (September 2002)
2) 445 (March 2002)
3) 3,348 (September 2001)
Percentage of issued class: 0.000127%
Class of security:
Ordinary shares 25p
Price per share:
1) £0.775
2) £1.1186
3) £0.741
Date of transaction:
1) 26 September 2002
2) 5 March 2002
3) 14 September 2001
Date company informed: September 26 2002
Total holding following this notification: 52,653
Total percentage holding of issued class following this
notification:
0.0015%
Name of contact and telephone number for queries:
Victoria Scarth
Senior Vice President
Corporate Marketing & Communications
Tel: 020 7821 3712
25. Name and signature of authorised company official responsible
for making this notification:
Emma Sullivan
Assistant Secretary

Date of Notification: 26 September 2002


INVENSYS PLC: Notification of Director's Interests
--------------------------------------------------
Name of company: Invensys plc
Name of director: Mr Rolf Borjesson
Name of the registered holder(s) and, if more than one holder,
the number of shares held by each of them (if notified): Roy
Nominees Limited
Number of shares / amount of stock acquired: Total of 1,571
acquired comprising:
1) 208 (September 2002)
2) 143 (March 2002)
3) 1,053 (September 2001)
4) 167 (September 2000)
Percentage of issued class: 0.000045%
Price per share:
1) £0.775
2) £1.1186
3) £0.741
4) £1.5367
Date of transaction:
1) 26 September 2002
2) 5 March 2002
3) 14 September 2001
4) 15 September 2000
Date company informed: 26 September 2002
Total holding following this notification: 16,571
Total percentage holding of issued class following this
notification:
0.00047%
Name of contact and telephone number for queries:
Victoria Scarth
Senior Vice President
Corporate Marketing & Communications
Tel: 020 7821 3712
Name and signature of authorised company official responsible for
making this notification:
Emma Sullivan
Assistant Secretary
Date of Notification: 26 September 2002


MARCONI PLC: To Power Telkom Asymmetrical Digital Subscriber Line
-----------------------------------------------------------------
Marconi (London: MONI) is to play a key role in the deployment of
broadband communications and services in South Africa. The
company will supply and install Telkom South Africa's first
commercial Asymmetric Digital Subscriber Line (ADSL) network
under a frame contract that will run initially for two years with
a value that will depend on subscriber demand.

The ADSL deployment is a key phase in Telkom's preparations for
its imminent initial public offering and the deregulation of the
South African telecommunications market. Telkom is targeting
residential, small and medium-sized enterprises and the small-
office home-office market with new ADSL services, including high-
speed Internet access with always-on connections on an
incremental basis. ADSL will enable faster downloads, file-
sharing across remote IT networks and the ability to access
Internet-based broadband entertainment services, including games,
video and music.

Richard Bicker Caarten, Managing Director, Marconi SA, said:
"Marconi is proud to be able to partner with Telkom in providing
a world-class broadband network and its associated services to
South Africa. We believe broadband services can offer South
Africans a plethora of valuable applications - from commercial
uses to distance learning, telemedicine to online gaming. This
contract is in line with Marconi's drive to supply Africa with
broadband networks capable of providing services that can benefit
the continent both socially and economically."

Under the contract, Marconi will supply and install its Access
Hub high-density DSLAM (Digital Subscriber Line Access
Multiplexer) along with its ServiceOn Access network management
platform. DSLAMs, usually located in an operator's central
office, are network devices that connect multiple customer
Digital Subscriber Lines (DSLs) to a high-speed backbone using
multiplexing techniques. The ServiceOn Access platform allows for
efficient network management. When a fault is detected, ServiceOn
Access signals an alarm and automatically re-routes the traffic
(be it voice, data or otherwise) to avoid service disruption. The
fault alarms are routed directly to the person accountable for
that section of the network and from there the fault is
immediately forwarded via e-mail, fax or even SMS to the nearest
technician, along with comprehensive instructions for
rectification of the fault. This maintains the integrity and
reliability of network service levels.

Marconi's Access Hub
Marconi's Access Hub high-density DSLAM and ServiceOn Access
management system are core to Telkom's broadband roll out. They
will enable Telkom to:

Provide a high-speed access network for delivery of broadband
multi-services
Remotely manage all elements of the network (wired, wireless,
copper and fibre) on a single platform, eliminating time-
consuming manual intervention Aggregate all traffic types into a
single solution that includes Asynchronous Transfer Mode (ATM)
switching and Internet Protocol (IP) routing.

"This agreement demonstrates the flexibility and competitive
strengths of Access Hub high-density DSLAM," said Graham Sykes,
VP Product Marketing and Business Development, Broadband Systems.
"It indicates that Marconi technology assists customers in
generating significant new revenue streams by cost effectively
delivering value-added high-speed services. This follows
Marconi's contract wins with Telecom Italia, where we are
supplying 700,000 ADSL and SHDSL lines (Asymmetrical and
Symmetrical High-density Digital Subscriber Lines)."

The Access Hub - AXH series of high density DSLAMs combines the
functionality of Digital Subscriber Line Access Multiplexers -
along with the ability to aggregate all traffic types - with one
of the industry's highest port densities.

With a 32-line xDSL line card, the Access Hub supports up to 576
xDSL lines in a single shelf and can also act as a wireless or
fibre aggregation point. The Access Hub supports up to 40Gbit/s
of bandwidth on the backplane.

The Access Hub platform is completely managed by Marconi's
ServiceOn Access.

ServiceOn Access is able to manage all Marconi's access solutions
from a single, unified platform providing operators the advantage
of a common look and feel for all the different technologies
deployed in an access network.

About Telkom SA
Telkom is the only fixed-line operator in South Africa. During
the past years the Company has transformed itself into a
streamlined, refocused and efficient organisation, and has
expanded into the realm of total communications solutions (the
full spectrum of digital communications including voice, data,
video, internet and e-commerce) alongside wireless telephony.

From 1997 to March 2001, the Company invested R34 billion
primarily in network modernisation and expansion. Telkom has
already begun evolving to a next generation network which
involves the movement to a scalable Internet-protocol-based
network with the capacity to deliver intelligent, value-added
products and services. Packet Mode Architecture, which has the
ability to carry all types of traffic and offer quality of
service on par with traditional voice, has been introduced.

With its 50% holding in Vodacom, South Africa's largest mobile
provider, the Group is continuing its expansion into Africa with
investments in Tanzania, Lesotho and the DRC.

For more information, please visit Telkom's Web site at
www.telkom.co.za

About Marconi plc
Marconi plc is a global telecommunications equipment and
solutions company headquartered in London. The company's core
business is the provision of innovative and reliable optical
networks, broadband routing and switching and broadband access
technologies and services. The company's aim is to help fixed and
mobile telecommunications operators worldwide reduce costs and
increase revenues.

The company's customer base includes many of the world's largest
telecommunications operators. The company is listed on the London
Stock Exchange under the symbol MONI.


WILLIAM L MACLEAN: Administrators Announces Administration
----------------------------------------------------------
By Order of the Joint Administrators Patrick Ellward and Simon
Thomas of Tenon Recovery

Re: William L Maclean Limited

Quality Contract Furniture Manufacturer

Major international hotel and leisure industry customers
Reputation for quality products
Established and skilled workforce
Fully fitted and equipped leasehold premises in Brighton
Turnover for 12 months ended December 2001 c.£5.14m
Business and Assets for Sale

CONTACT: Cameron Gunn
         Sherlock House
         73 Baker Street
         London W1U 6RD
         Tel: 020 7935 5566
         Fax: 020 7935 3512

         Roland Cramp
         Edward Symmons
         2 Southwark Street
         London Bridge
         London SE1 1RQ
         Tel: 020 7955 8454
         Fax: 020 7403 1947


WORLDCOM: ATLANTIC-ACM Says Bankruptcy Will Benefit IDT & Vartec
----------------------------------------------------------------
ATLANTIC-ACM's ninth annual study of the long distance industry
reveals the shrinkage of the U.S. long distance switched revenue
market from $55 billion in 2001 to $39 billion in 2007. Dramatic
shifts in market share are expected during these years with
burgeoning LD entrants predicted to seize much of the retail
switched voice market. These carriers, which passed $1B in LD
revenue by 2001, include Verizon, Qwest, Global Crossing, Vartec
and IDT. As a group, they will see their retail switched voice
revenues grow at a compounded annual growth rate of 18.1% from
$5.7 billion in 2001 to $15.6 billion in 2007.

The Regional Bell Operating Companies are expected to triple
their 2001 long distance market share by 2007. Their share of
6.3% in 2001 will jump to 22.8% in 2007. RBOCs are also expected
to increase their private and data market share 2.5 fold from
2001 to 2007. "This large market share growth will be a result of
extensive marketing efforts by the RBOCs," explains Dr. Judy Reed
Smith, CEO of ATLANTIC-ACM.

"The recent bankruptcy filing by WorldCom will benefit emerging
companies, with IDT and Vartec, in particular, well-poised to
seize a considerable percentage of WorldCom's retail residential
share," proclaims Taher Bouzayen, Vice President at ATLANTIC-ACM.

U.S. Long Distance Services Market: Sizing & Share Analysis 2002-
2007 is a 232-page report available now for $4,950.00(US). The
report provides a quantitative analysis of the overall size and
composition of the current U.S. long distance services market,
projecting its growth and opportunities for both long distance
players and their competitors. For more information contact
ATLANTIC-ACM at One Beacon Street, 34th Floor, Boston, MA 02108,
Tel +1(617) 720-3700, Fax +1 (617) 720-1077, e-mail
atlantic@atlantic-acm.com  or visit its Web site at
http://www.atlantic-acm.com

ATLANTIC-ACM is a telecommunications strategy consulting and
customized research firm. ATLANTIC-ACM assists clients in
evaluating telecommunications opportunities for successful
investment, market entry, and long-term planning.

Worldcom Inc.'s 11.25% bonds due 2007 (WCOM07USA1), DebtTraders
reports, are trading at 22.5 cents-on-the-dollar. See
http://www.debttraders.com/price.cfm?dt_sec_ticker=WCOM07USA1for
real-time bond pricing.


WORLDCOM INC: Asks Court to Clear Pentagon Purchase Agreement
-------------------------------------------------------------
Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP, in New
York, relates that after the execution of the contract for the
sale of Pentagon City, TST/Pentagon City LLC and Worldcom Inc.,
and its debtor-affiliates continued an open dialogue regarding
the property.  In connection with the dialogue and following the
Purchaser's due diligence investigation as contemplated by the
contract, the parties agreed to amend and restate the July 11,
2002 contract.  On August 28, 2002, the parties executed the
Amended and Restated Sale and Purchase Contract.

The Agreement provides for the sale of:

-- Pentagon City, including all legal rights related thereto,

-- certain furniture, fixtures and equipment related to the use
and operation of Pentagon City, and

-- all intangible property, if any, pertaining to Pentagon City
or the FF&E, including the assignment to Purchaser of certain
related contracts.

Ms. Goldstein adds that TST/Pentagon City LLC also will have the
option to assume certain service contracts.  The Agreement
further contemplates the execution of two lease agreements
between TST/Pentagon City LLC and the Debtors for an equipment
site lease at 701 South 12th Street and a post-closing occupancy
agreement for portions of 701 South 12th Street and 601 South
12th Street.

The principal terms of the Agreement are:

-- Purchase Price:  $101,425,000

-- Deposit:  $2,000,000, to be applied toward the Purchase Price
at closing.

-- Closing Date:  The closing will occur as soon as practicable
after Court approval but not later than 11 days after entry of
the Sale Order.

-- Assets To Be Sold:

    a. Real Property consisting of Pentagon City, all mineral,
oil and gas rights, water rights, sewer right, and other utility
rights associated therewith, all appurtenances, easements,
licenses, privileges and other property interests belonging or
appurtenant therewith, and all right, title and interest in any
roads, streets and ways serving Pentagon City;

    b. Tangible Personal Property, consisting of the furniture,
fixtures and equipment; and

    c. Intangible Personal Property, consisting of all intangible
personal property related to the Real Property or the Tangible
Personal Property.  The Debtors agree to assign, to the extent
assignable, its interest in all Service Contracts related to the
property, including management contracts, transferable utility
contracts, service contracts, equipment leases, and maintenance
contracts, to the Purchaser to the extent that the Purchaser
elects to assume the Service Contracts.  The Debtors will cancel,
with respect to the Assets to be sold, all terminable Service
Contracts that the Purchaser elects not to assume.

-- Leases:  The Purchaser and the Debtors will enter into an
equipment site lease and a temporary post-closing occupancy
agreement with the Debtors.

-- Warranty:  The Assets are being sold "as is" without any
representations and warranties whatsoever other than as specified
in the Agreement.

-- Closing Conditions:  Closing is subject to Bankruptcy Court
approval and other customary conditions.

-- Auction Procedures:  The Agreement provides that the Debtors
will file and diligently prosecute a motion seeking entry of an
order of the Bankruptcy Court approving certain bidding
protections for the Purchaser including a break-up fee of 3% of
the Purchase Price, setting a deadline for the submission of
competing offers, setting an initial minimum overbid requirement
of the Purchase Price plus the Break-Up Fee plus $1,000,000,
fixing bidding increments of not less than $500,000, and other
customary bid protections.  The order of the Bankruptcy Court
approving the auction procedures must be entered not later than
October 3, 2002.  An order approving the sale must be entered no
later than November 14, 2002.  If the Debtors do not obtain the
requisite orders prior to the stated deadlines, the Purchaser may
terminate the Agreement pursuant to its terms.

-- Equipment Site Lease:  The Purchaser will lease to the Debtors
4,300 net rentable square feet on the second floor of 701 South
12th Street, together with a generator area, at an annual base
rent of $86,000, or $20 per rentable square foot, for a term of 2
years, with six 3-year renewal options, on terms and conditions
specified in the Equipment Site Lease.

-- Post-Closing Occupancy Agreement:  The Debtors will continue
to occupy certain floors of Pentagon City for varying periods of
time pursuant to a transition schedule through December 31, 2002.
The Debtors will pay the Purchaser rent for the premises it
occupies during the transition period at $20 per rentable square
foot on terms and conditions set forth in the Post-Closing
Occupancy Agreement. (Worldcom Bankruptcy News, Issue No. 8;
Bankruptcy Creditors' Service, Inc., 609/392- 0900)

                                  *************

       S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter co-
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USA, and Beard Group, Inc., Washington, DC USA. Kimberly MacAdam,
Larri-Nil Veloso, Ma. Cristina Canson and Jean Claire Dy,
Editors.

Copyright 2002.  All rights reserved.  ISSN 1529-2754.

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