/raid1/www/Hosts/bankrupt/TCREUR_Public/021004.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

                 Friday, October 4, 2002, Vol. 3, No. 197


                              Headlines

* F I N L A N D *

SONERA CORP: SEC Declares Telia Registration Statement Effective
SONERA CORP.: To Publish Interim Report on October 25

* F R A N C E *

FRANCE TELECOM: Board Nominates Breton as Chairman and CEO
FUTURE NETWORK: Dealings by Substantial Shareholders

* G E R M A N Y *

BABCOCK BORSIG: Creditors Officially Deploys Lifeboat Company
DEUTSCHE TELEKOM: Pushes With Massive Workforce Reduction
KIRCHMEDIA: Unloads Stake in Kirch Intermedia to ProSiebenSat1
MOBILCOM AG: Cancels Meeting to Keep Restructuring Plan Safe

* I R E L A N D *

ELAN CORPORATION: Sells Its Actiq Rights to Cephalon

* I T A L Y *

FIAT SPA: Sells Stake in Europ Assistance for EUR124 Million

* N E T H E R L A N D S *

GETRONICS NV: Sells U.S. unit to DigitalNet, Cuts Debt

* P O L A N D *

PIA PIASECKI: Obtains Multi-Million Deal With Kredyt Serwis

* R U S S I A *

PROMSVYAZBANK: Fitch Ups Long-Term Rating To 'B-'
URAL SIBERIAN BANK: Fitch Changes Outlook to Positive

* S W E D E N *

LM ERICSSON: Extends Contract With Telecom New Zealand

* S W I T Z E R L A N D *

CREDIT SUISSE: Strengthens Winterthur's Capital Base
CREDIT SUISSE: Fitch Changes Rating Outlook to Negative
CREDIT SUISSE: S&P Places Long-Term Rating on CreditWatch

* U N I T E D   K I N G D O M *

ABERDEEN STEAK: Offers Business and Assets for Sale
BALTIMORE TECHNOLOGIES: Introduces New Toolkit for Web Services
BRITISH ENERGY: Belgium Files Complaints on Government Bailout
CENARGO INTERNATIONAL: Moody's Lowers Rating to Caa1 From Ba3
ENERGIS PLC: Former Chief Executive Officer Resigns
FILTRONIC PLC: Announces AGM Results
GLOBAL CROSSING: Court Extends IRS Bar Date Until Year's End
MAN GROUP: Notification of Major Interests in Shares
SCOTTISH MUTUAL: Parent Dismisses Insolvency Speculations
PACE MICRO: Notifies of Directors' Interests in Ordinary Shares
UK COAL: Notification of UK Coal Employee Share Trust
WORLDCOM INC: Creditors' Committee Hires Akin Gump as Counsel


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


SONERA CORP: SEC Declares Telia Registration Statement Effective
----------------------------------------------------------------
Telia (Other OTC:TLAAF) today filed a registration statement on
Form F-4 with the United States Securities and Exchange
Commission (SEC), in connection with its exchange offer for all
of the outstanding shares, American depositary shares and certain
warrants of Sonera Corporation. The SEC also declared the
registration statement effective today allowing Telia to proceed
with the launch of the offer in the United States. The prospectus
has also been approved by the Stockholm Exchange.


SONERA CORP.: To Publish Interim Report on October 25
-----------------------------------------------------
Sonera Corporation (HEX: SRA, NASDAQ: SNRA) and Telia AB (SSE:
TLIA), who have announced their plan to merge, have agreed to
report their financial performance for the third quarter of 2002
on the same day.

Accordingly, Sonera will publish its interim report for January -
September 2002 on Friday October 25, 2002, instead of earlier
announced date, October 22, 2002.

CONTACT:  Sonera Corporation:
          Jari Jaakkola, EVP, Corporate Communications and IR
          Phone: +358 2040 651 70
          E-mail: jari.jaakkola@sonera.com


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


FRANCE TELECOM: Board Nominates Breton as Chairman and CEO
----------------------------------------------------------
France Telecom's Board of Directors nominated Thierry Breton as
Chairman and Chief Executive Officer of France Telecom. This
nomination must be approved by the French Council of Ministers,
which is also meeting today.

In keeping with the procedure for appointing the chairman of
France Telecom, Thierry Breton was first named a member of the
France Telecom Board of Directors in a decree issued by the
French Ministry of Finance and registered in today's Journal
Officiel.

Three other new members of the France Telecom Board of Directors
were also named : Jean-Pierre Jouyet, Treasury Director at the
Finance Ministry, Bertrand Schneiter, a senior official at the
Finance Ministry (Inspecteur G,n,ral des Finances), Henri Serres,
Central Director of Information Systems Security at the Defense
Ministry, and Jean-Luc Tavernier, Director of Forecasting at the
Finance Ministry.

CONTACT: Bruno Janet
         Senior Vice President
         Corporate Information
         E-mail: bruno.janet@francetelecom.com
         Tel: +33 1 44 44 88 71


FUTURE NETWORK: Dealings by Substantial Shareholders
----------------------------------------------------
Name of company: The Future Network Plc
Name of shareholder having a major interest:
     J.P. Morgan Securities Limited
     J.P. Morgan Chase & Co
Class of security: ordinary shares of 1p each
Date company informed: 2 October 2002
Total holding following this notification: 32,275,714
Total percentage holding of issued class following this
notification:  10.05%
Name of contact and telephone number for queries:
Mark Miller, Company Secretary
Or
Nina Sparrow, Legal Projects Co-ordinator
Tel: 01225 442244
Date of Notification: 2 October 2002

J.P. Morgan Chase & Co's interest comprises of the following
subsidiaries:
Future Network (the) ord 1p

J.P. Morgan Flemings Asset Management (uk) Limited
(discretionary investment manager)

Registered Holder

BP Tran                                             531,800
CHASE NOMINEES LIMITED                              267,221
Detil Euro Digital Fund                           2,262,673
JPMF Balanced Fund                                  195,590
JPMF Life UK Equity Tracker Fund                      1,809
JPMF Life UK Smallcap Equity Fund                   820,671
JPMF Premier Equity Income Fund                   1,913,688
JPMF UK Dynamic Fund                              2,617,975
JPMF UK Smaller Companies Fund                    5,403,126
JPMFF Europe Small Cap Fund A/c 759               4,347,348
JPMFF Europe Strategic Growth Fund A/c 799          648,975
JPMFF Europe Technology Fund A/c 798              9,044,622
OP Euro Growth Fund 212,500
SAFE (Eurobolsa seleccion) 87,370
The Fleming Claverhouse Investment Trust plc       1,354,698
The Fleming Smaller Companies Investment Trust plc 2,565,648
                                                  ----------
                                                  32,275,714

TOTAL INTEREST                                         10.05%
                                                  32,275,714

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

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


=============
G E R M A N Y
=============


BABCOCK BORSIG: Creditors Officially Deploys Lifeboat Company
-------------------------------------------------------------
The creditors' committee of Babcock Borsig AG officially launched
the lifeboat company that will handle the group's main
activities, says Frankfurter Allgemeine Zeitung.

Babcock Borsig Power Systems GmbH is designed to take over 2,560
employees, 80% of the total workforce, and operate the following
divisions: services, energy technology and environmental
technology. Half of the projected sales of the new company are
expected to come from maintenance, modernization and spare parts.

Babcock Borsig has high hope for the services division, as it
registered global turnover of EUR700 last year and reportedly has
pending orders of EUR150 million. It is expected that BBPS will
report first year turnover of EUR488 million.

According to the plan, Babcock Borsig will provide the rescue
company with equity capital of EUR30 million by installments
until August 1, 2003.

DEUTSCHE TELEKOM: Pushes With Massive Workforce Reduction
---------------------------------------------------------
Europe's biggest phone company, Deutsche Telekom, is pushing
forward with massive job cuts to restructure operations.

According to the Associated Press, the company is accelerating a
program to cut nearly 30,000 jobs or 11% of its workforce.  The
move will affect 7,200 employees at Telekom's main T-com German
fixed line business this year, and continue to displace 14,000
more in 2003. It is further projected that an additional 8,300
jobs will go by 2005.

Earnings of the former German state phone monopoly was affected
by costly expansion into mobile phones. Deutsche Telekom lost
US$3.8 billion in the first half of the year, despite a pretax
profit of US1.75 billion at T-Com.

The company is moving forward to shedding non-essential assets to
cut a US$63 billion debt load.

Then chief executive, Ron Sommer, resigned July amidst pressure
from shareholders and the German government. Helmut Sihler
currently acts as interim chairman.

In a separate report, Deutsche Post World Net AG chairman Klaus
Zumwinkel is said to be the first choice for chairmanship in the
troubled company.


KIRCHMEDIA: Unloads Stake in Kirch Intermedia to ProSiebenSat1
--------------------------------------------------------------
German broadcaster ProSiebenSat1 has finally taken over all of
Kirchmedia's online business, Kirch Intermedia, says AFX.

ProSiebenSat1's assumption of the remaining 50.1% of the business
is retroactive starting September 1, according to the report.

KirchMedia holds 30.1% and KirchPay owns 20% of the remaining
49.9% stake not owned by ProSiebenSat1.

Kirch Intermedia owns a majority in Germany's largest internet
sports site, Sport1, a stake in the wetter.com site, and the news
agency ddp.

Germany's largest commercial television group paid less than EUR1
million for the 20% stake held by KirchPay. The price will be
paid largely by services, says the report.

KirchMedia, meanwhile, got Kirch Intermedia's 74.5% stake in
internet sports site Sport1, according to ProSieben.

The leading company in the European audiovisual industry is
currently tendering its assets for sale, including sports rights,
and its 52.5% stake in ProSiebenSat1.


MOBILCOM AG: Cancels Meeting to Keep Restructuring Plan Safe
------------------------------------------------------------
MobilCom AG said it has cancelled its extraordinary general
meeting on October 17 to avoid a possible disagreement that could
endanger the company's rescue plan, says AFX.

The meeting was proposed by Millenium GmbH, which is controlled
by the wife of the company's founder, former chairman and chief
executive Gerhard Schmid. Millennium holds a 10% stake in the
company, while Schmid holds around 39%.

The agenda of the meeting will include the removal of all capital
members of Mobilcom's subsidiary board and the introduction of
new rules regarding capital increases and the number of
management board members.

The capital members referred include two representatives of
France Telecom SA, which holds a 28.5% share in the company.

According to a previous TCR-Europe report, another concern to be
addressed will be Gerhard Schmid's non-payment of a premium for a
share option program, which has been declared null and void.
Management will reportedly seek shareholder approval to claim
damages from Schmid.

"There is a genuine fear, that the rescue of the group can be put
in danger due to an expected row between shareholders and the
company during the meeting," said MobilCom in a statement.

The troubled German telecom company recently announced its
intention to freeze its 3G UMTS roll-out and lay off 1, 850
employees as part of its restructuring plan.


=============
I R E L A N D
=============


ELAN CORPORATION: Sells Its Actiq Rights to Cephalon
----------------------------------------------------
Elan Corporation, plc announced that Elan Pharma International
Limited, a subsidiary of Elan, has sold its rights to Actiq(TM)
(oral transmucosal fentanyl citrate) (C-II) in twelve
territories, principally in Europe, to Anesta Corp., a subsidiary
of Cephalon, Inc., for US$50 million in cash.

"The proceeds from the sale of the Actiq rights once again
demonstrates our commitment to maximise the value of our assets.
The proceeds from the sale will form part of Elan's targeted
proceeds from the divestment of assets as outlined in our
recovery plan," commented Dr. Garo Armen, chairman of Elan.

Actiq is currently marketed by Elan in the United Kingdom, where
it was launched in January 2001, and in Ireland and Germany,
where it was launched in the second quarter of 2002. In the first
six months of 2002, Elan recorded net revenue and gross profit
for Actiq of US$0.8 million and US$0.5 million, respectively. The
carrying value of the Actiq intangible asset as at August 31,
2002 amounted to US$8.4 million.

Actiq is approved in Ireland, the United Kingdom, and Germany for
the management of breakthrough pain in patients with malignancies
who are already receiving and who are tolerant to opioid therapy
for their underlying persistent cancer pain. Elan originally had
acquired Actiq rights in these twelve territories from Anesta in
December 1999. Cephalon acquired Anesta in October 2000 and
already markets Actiq in the United States.

Elan is focused on the discovery, development, manufacturing,
selling and marketing of novel therapeutic products in neurology,
pain management and autoimmune diseases. Elan shares trade on the
New York, London and Dublin Stock Exchanges.

CONTACT:  Elan Corporation
           Investors:  (U.S.)
           Jack Howarth
           Phone: 212/407-5740
                  800/252-3526
                    or
           Investors:  (Europe)
           Emer Reynolds
           Phone: 353-1-709-4000
                  00800 28352600


=========
I T A L Y
=========


FIAT SPA: Sells Stake in Europ Assistance for EUR124 Million
------------------------------------------------------------
Auto group Fiat sold its 40% stake in Italian medical assistance
group, Europ Assistance, to insurance group Generali, for EUR124
million, according to reports. Generali already holds 60% of the
company.

The sale is expected to raise at least EUR80 million for the
loss-making automaker, which is currently selling assets to cut
net debt of EUR3 billion by December.  Italy's leading industrial
group aims to raise EUR3.2 billion through the sale of non-core
assets to reduce a debt of EUR5.8 billion at the end of June.

The automaker has suffered serious business setback after its
core auto unit was hit by a 19% slump in car sales in the second
quarter.  The downturn resulted to an operating loss of EUR394
million, pushing the group's net loss to EUR 34 million.

Europe Assistance operates in more than 200 countries and
supplies medical and road assistance to private individuals and
companies.

CONTACT:  FIAT SPA
          250 Via Nizza
          10126 Turin, Italy
          Phone: +39-011-686-1111
          Fax: +39-011-686-3798
          Toll Free: 800-804027
          Home Page: http://www.fiatgroup.com/e-index.htm


=====================
N E T H E R L A N D S
=====================


GETRONICS NV: Sells U.S. unit to DigitalNet, Cuts Debt
------------------------------------------------------
Getronics NV plans to sell its U.S. desktop and network-
management unit, Getronics Government Solutions for EUR224
million to DigitalNet, says The Wall Street Journal Europe.

According to analysts, the move is expected to reduce the
company's EUR630-million debt load by 2005 and restore investor
confidence to the company, the report says.  The sale is expected
to cut Getronics' debt by EUR190 million.

According to an analyst at SNS Securities, the divestment will,
however, stripped Getronics with one ot its most profitable
operations.

Investors have been worried by the company's ability to pay its
obligations.  To avoid default, the information-technology-
services company may resort to offering shares to raise cash.

The market is even expecting Getronics to sacrifice noncore
assets to meet a debt reduction target of betwen EUR400 million
and EUR450 million by year-end.

Worries on possible debt default in recent months led to the
company's shares falling 45% one week in early August.


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

PIA PIASECKI: Obtains Multi-Million Deal With Kredyt Serwis
-----------------------------------------------------------
Construction company PIA Piasecki has entered into a deal with
Kredyt Serwis that would reduce Piasecki's liabilities by over
PLN80 million (US$19.3 million), Warsaw Business Journal reports.
The amount may even restore normal operations in the company, PIA
Piasecki says.

The troubled firm has agreed to give to Kredyt Serwis over 60% of
its shares in Piasecki's subsidiary, PIA Piasecki Inwestycje and
Bia3ostockie Przedsi^biorstwo Budownictwa Przemys3owego
Przemys3˘wka.

According to the report, PIA Piasecki has reserved the right to
repurchase the shares, amortized by the cost of capital, or the
increase in the value of the companies.

The transaction is considered the first significant source of
funding since May, according to the company's acting president,
Stanislaw Gieron.

In July, TCR-Europe reported that subcontractors of PIA Piasecki
filed a bankruptcy petition against the company in a regional
court in Kielce, Poland.

Poland AM says PIA Piasecki ranks 308 among the top 500
corporations and is suffering serious financial trouble. PIA
emerged to have a serious cash flow problem.

Last year, the industrial group recorded PLN 420 million (USD 104
million) in turnover and net loss of PLN14 million.

PIA Piasecki SA, established in 1995, is the parent organization
of a holding of nine companies involved in construction and
onstruction-related operations all over Poland. The company
offers services in general contracting for public utility,
industrial and residential projects as well as historic building
restoration and renovation.

Piasecki is currently completing orders worth PLN80 million
(US$19.3 million, and is hoping to sign further contracts of
PLN150 million (US$36.22 million).


===========
R U S S I A
===========

PROMSVYAZBANK: Fitch Ups Long-Term Rating To 'B-'
-------------------------------------------------
International rating agency Fitch Ratings recently upped
Promsvyazbank's short-term and long-term ratings to 'B' from 'C'
and to 'B-' (B minus) from 'CCC+', respectively, a report from
the rating agency says.

Fitch has also changed the outlook of Promsvyazbank's long-term
ratings to Stable from Positive. The bank's other ratings were
not revised and still remains as follows: Individual 'D'; and
Support '5T'.

Fitch says that the "upgrade reflects PSB's adequate
capitalisation, the continued development and diversification of
its business and the favourable operating environment in Russia."

But the rating agency notes that "profitability is only moderate,
and loan loss reserves (LLR) are lower than desirable,
particularly against a background of rapid loan portfolio growth,
and in light of a high (albeit improving) level of concentration
in the loan portfolio."

Fitch further observes "Net income increased in 2001, which, in
addition to a capital injection, has served to keep PSB's
capitalisation at an adequate level despite a large increase in
total assets; there was a further share issue of RUB500 million
in August 2002. However, the increase in net income was mostly
due to gains, both realised and unrealised, in the more volatile
securities side of the business and foreign-exchange translation
gains."

Also, the rating agency says, "margins are falling, and fee and
commission income needs to improve. The customer loan portfolio
grew strongly in 2001 and 1H02, and sectoral diversification has
improved. Exposure to the largest customers has fallen as a
percentage of the loan portfolio, but is still high compared to
many other Russian banks. Loan quality deteriorated slightly in
2001, although doubtful and loss loans remained an acceptable
percentage of the loan portfolio and actual loan losses were
minimal in 2000 and 2001. Nevertheless, in Fitch's opinion, LLR
were on the low side, given the risks of lending in such a
volatile environment."

PSB is a medium-sized Russian bank, which was established in 1995
to serve the telecommunications and transport sectors. The bank's
business has since diversified and it now ranks among the top 30
by assets. It is principally a corporate bank and its core
clients now also include companies in the IT, manufacturing,
defence, construction, mass media, publishing, food production
and retail sectors. Ultimate ownership of PSB is in the hands of
a few individuals.


URAL SIBERIAN BANK: Fitch Changes Outlook to Positive
-----------------------------------------------------
International rating agency Fitch Ratings recently changed its
outlook on Russia's Ural-Seberian Bank's (Uralsib) long-term debt
rating to positive from stable.

The report from the rating agency says the bank's ratings have
been affirmed as Long-term 'B-' (B minus), Short-term 'B',
Individual 'D' and Support '4T'.

Fitch also says "the Positive Outlook reflects Fitch's opinion
that Uralsib's strategy of expanding beyond the borders of the
Russian republic of Bashkortostan, both organically and through
acquisition, will help to diversify the bank's risk profile and
develop the bank's position as one of the more important banks in
Russia."

But the rating agency notes that there is apprehension in the
untested strategy, as well as Uralsub's integration with recent
acquisitions, which have high cost bases.

Fitch also observes, that "Uralsib's Long- and Short-term ratings
take into account the bank's strong market shares within
Bashkortostan. Additionally, after adjusting for a high level of
fixed assets, which reduces 'free capital', Uralsib's
capitalisation looks acceptable. However, Uralsib frequently
lends to one of its shareholders (an investment fund), which
raises issues of transparency and quality of part of the bank's
capital. The agency warns that these are likely to constrain
longer-term material improvements in the bank's ratings."

Uralsib's profitability has been seen as moderate and "still
contain a relatively high element of more volatile securities
trading gains, reflective of the fact that the bank is not averse
to taking on market risk. Asset quality is acceptable and not out
of line with that of other banks in the region, while the level
of loan loss reserves is adequate. Nonetheless, in light of
Uralsib's rapid growth and its expansion strategy, particularly
into regions with which it is less familiar, credit risk needs to
be watched carefully by management."

Uralsib was founded by the republic of Bashkortostan in 1993 and
was 100% owned by the republic until November 2000. The bank is
presently 66% owned by the republic, but this is expected to fall
to 50% plus one share by end-2002. Uralsib's charter states that
at least 50% plus one share of the bank must at all times be held
by the republic, which is committed to being the majority
shareholder in the medium-term. In addition to the investment
fund, other shareholders include large industrial companies,
mainly based in Bashkortostan. Although still heavily focused on
Bashkortostan, Uralsib has been expanding rapidly beyond its
borders over the past one to two years, both organically and
through acquisition, particularly into Siberia and northwest
Russia.


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


LM ERICSSON: Extends Contract With Telecom New Zealand
------------------------------------------------------
Telecom New Zealand has extended the length of its current
contract with Ericsson (NASDAQ:ERICY) to manage its TDMA network
to 2007.

The agreement represents a managed services contract with
Ericsson responsible for managing the network, including
monitoring and surveillance of the end-to-end-service network
performance improvements, hardware support and coordinating field
and maintenance staff.

"Over the past two years we have developed a cost-effective and
efficient way of working with Ericsson," says Stephen Crombie,
Telecom's Mobile Networks and Planning Manager. "The relationship
has been so satisfying that we wanted to extend our contract with
Ericsson to ensure that both parties can plan effectively."

"The extension of the agreement is a tribute to Ericsson's
standards of excellence and commitment to quality," says Brian
Phillips, Managing Director of Ericsson New Zealand. "This
reinforces our strong leadership in telecom outsourcing. Ericsson
has over time signed well over 30 managed services contracts."

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

Note:

On September 16, TCR-Europe reported that Moody's Investors
Service downgraded the long-term debt ratings of
Telefonaktiebolaget LM Ericsson (Ericsson) from Ba1 to Ba2, with
a Ba2 senior implied rating.

The downgrade was due to a weak market for telecommunications
equipment. Several wireless operators announced withdrawal from,
or decreases in, investment plans in 3rd generation (3G) wireless
infrastructure.

CONTACT:  Ericsson
          Kathy Egan, 212/685-4030
          Email: Pressrelations@ericsson.com
          Glenn Sapadin, 212/685-4030
          Email: Investor.relations@ericsson.com


=====================
S W I T Z E R L A N D
=====================


CREDIT SUISSE: Strengthens Winterthur's Capital Base
----------------------------------------------------
Credit Suisse Group today announced that it has further
strengthened the capital base of its insurance units with CHF 2.0
billion, as part of its capital plan for Winterthur communicated
in the second quarter earnings release on August 14, 2002. This
capital contribution will reinforce Winterthur's solvency capital
to support the growth of its businesses in this challenging
environment. The Group also announced that in the third quarter
of 2002 its results will be impacted by a significant net loss in
the insurance business, as well as by a modest overall negative
effect from the Group's other businesses.

In its second quarter earnings release of August 14, 2002, Credit
Suisse Group announced that it plans to implement further
measures to strengthen the capital base of its insurance units in
the second half of the year. As part of this capital plan, Credit
Suisse Group has now increased the equity capital of Winterthur
Insurance by CHF 0.6 billion and completed a direct capital
injection of CHF 1.4 billion into Winterthur Life. These
transactions were financed with excess liquidity from the Credit
Suisse Group parent company and therefore do not impact banking
capital ratios.

Winterthur has substantially reduced the equity exposure of its
investment portfolio to mitigate the impact of international
equity market volatility on its solvency capital as far as
possible. However, related hedging costs and further realized
losses again impacted Winterthur's capital base in the third
quarter of 2002. In addition, Winterthur's solvency capital was
reduced by growth in premium volumes, particularly from rate
increases. With the CHF 2.0 billion capital injection,
Winterthur's capital base has now been reinforced. Further
measures to improve Winterthur's solvency capital are planned in
line with market developments. Credit Suisse Group remains
adequately capitalized.

Oswald J. Grbel, Chief Executive Officer of Credit Suisse
Financial Services and Co-CEO of Credit Suisse Group as of
January 1, 2003, said: "By reinforcing the solvency capital of
our insurance units, we will enable Winterthur to take advantage
of opportunities to grow and to improve its operating results
through the realignment of its investment strategy, continued
repricing and selective underwriting in light of new market
conditions, as well as the accelerated realization of cost
reductions."

Third quarter results outlook

In the third quarter of 2002, Credit Suisse Group's consolidated
results will be impacted by a significant net loss in the
insurance business due to further realized losses and the income
statement recognition of lower equity valuations, as well as by a
modest overall negative effect from the Group's other businesses.

Credit Suisse First Boston will report an operating loss in the
third quarter, mainly as a result of lower revenues and further
provisioning, reflecting the current environment. Private Banking
will report a net profit below the result achieved in the second
quarter, due mainly to market conditions and a one-time
restructuring charge in its European Financial Services
Initiative. Swiss Corporate and Retail Banking will continue to
post good results. Detailed third quarter results will be
announced on November 14, 2002.

Credit Suisse Group
Credit Suisse Group is a leading global financial services
company headquartered in Zurich. The business unit Credit Suisse
Financial Services provides private clients and small and medium-
sized companies with private banking and financial advisory
services, banking products, and pension and insurance solutions
from Winterthur. The business unit Credit Suisse First Boston, an
investment bank, serves global institutional, corporate,
government and individual clients in its role as a financial
intermediary. Credit Suisse Group's registered shares (CSGN) are
listed in Switzerland, Frankfurt and Tokyo, and in the form of
American Depositary Shares (CSR) in New York. The Group employs
around 80,000 staff worldwide. As of June 30, 2002, it reported
assets under management of CHF 1,293.2 billion.

CONTACT:  Credit Suisse Group
          Media Relations Telephone
          Phone: +41 1 333 8844

         Credit Suisse Group
         Investor Relations Telephone
         Phone: +41 1 333 4570


CREDIT SUISSE: Fitch Changes Rating Outlook to Negative
-------------------------------------------------------
Fitch Ratings changed the Outlook on Credit Suisse Group's 'AA-
'Long-term rating to Negative from Stable.  The rating agency
also changed the Outlook on the 'AA-' long-term ratings of Credit
Suisse Group's main banking subsidiary, Credit Suisse to Negative
from Stable.  The same follows for Credit Suisse First Boston's
U.K. subsidiaries.

Credit Suisse Group is the holding company for the three main
operating companies in the group, Credit Suisse, Credit Suisse
First Boston and Winterthur.

Fitch also changed the Outlook of Winterthur Swiss Insurance
Company's (Winterthur's) 'AA' Insurer Financial Strength (IFS)
rating and 'AA-' Long-term rating to Negative from Stable, as
well as the Outlook on the 'AA' IFS rating for Winterthur Life.

The action follows the announcement that Credit Swiss Group will
dole out CHF2 billion of fresh funding into Winterthur to fill
the gap created by write-down in equity investments. The
insurance subsidiary, which has been hit severely by declining
share values, warns it will post "significant net loss" for the
third quarter.

Winterthur is one of the 10 largest multinational insurance
groups worldwide and a leader in the Swiss market.

According to the international rating agency, the outlook change
to negative reflects pressures "from deterioration in equities
prices and in the global economic climate during the past year."

Fitch also warns that any further deterioration in the
performance of the main operating subsidiary within at least the
next year may downgrade the entity's Long-term rating one-notch.
The downgrade may also carry on to Credit Suisse Group's rating.

Fitch explains that changes in the performance of one Credit
Suisse group translate to the financial strength of the others
due to the degree of integration within the group.

Although Credit Suisse is currently the strongest entity, it has
also suffered from falling equity markets and economic downturn.


CREDIT SUISSE: S&P Places Long-Term Rating on CreditWatch
---------------------------------------------------------
Standard & Poor's Ratings Services placed the single-'A'-plus
long-term counterparty credit rating on Credit Suisse Group (CSG)
on CreditWatch with negative implications. The rating agency,
meanwhile, maintains the 'A-1' short-term counterparty credit
rating on CSG.

S&P also placed on CreditWatch with negative implications the
double-'A'-minus long-term and 'A-1'-plus short-term counterparty
credit ratings on the group's primary bank operating entities
(including Credit Suisse, Credit Suisse First Boston (CSFB), and
Credit Suisse First Boston (USA) Inc.), and the double-'A'-minus
insurer financial strength and counterparty credit ratings on
Winterthur Swiss Insurance Co..

The action follows the group's warnings on its consolidated
third-quarter results.  According to the financial services
group, the results will be negatively affected by net loss in the
insurance business, and by other deteriorating results from the
group's other businesse.

Credit anaylst and director in Standard & Poor's Financial
Services Group, Diane Hinton, said the rating agency will
continue to monitor various issues within the group to determine
their impact on the individual operating entities.

S&P, at the same time, will review the effects of the capital
needs at Winterthur on the group under the continuing weak market
conditions.


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


ABERDEEN STEAK: Offers Business and Assets for Sale
---------------------------------------------------
Shay Bannon and Raymond Hocking, Joint Administrators of Aberdeen
Steak Houses Group Plc, a Central London restaurant operator,
offer for sale the business and assets.

The business currently trades from 21 units under the names
Aberdeen Steak House, Angus Steak House, China Garden, Piccadilly
Brasserie, American Cafe Bistro, American Burger, Maxines
Brasserie and Highland Steak.

Leasehold premises held on varying terms
Turnover in the region of o12.6 million

CONTACT: David Kenningham
         Dalgleish & Co
         Tel: 020 7663 5555
         E-mail: dkenningham@dalgleish.co.uk

         BDO Stoy Hayward
         8 Baker Street
         London W1U 3LL
         Tel: 020 7486 5888
         Fax: 020 7487 3686


BALTIMORE TECHNOLOGIES: Introduces New Toolkit for Web Services
---------------------------------------------------------------
Baltimore Technologies announced general availability of KeyTools
XML 5.1 for handling digital signatures within XML documents and
messages. The W3C XML Digital Signature specification, for which
Baltimore acted as the de facto reference implementation, is one
of the cornerstones of security in the emerging Web services
environment to provide assurance over the source and integrity of
data.

"Without the appropriate security measures provided by KeyTools
XML in place, the adoption of Web services will be severely
curtailed," said Patrick McLaughlin, SVP Technical Strategy for
Baltimore. "Coming on the back of the release earlier this year
of XKMS and SAML capabilities within our core authentication and
authorization products, Baltimore is strongly placed to provide
the most comprehensive and flexible suite of security technology
to its customers as they extend their existing IT systems into
the Web services arena."

Major new features of Baltimore's KeyTools XML include the
ability to create secure and trusted XML messages in full
compliance with the XML Digital Signature specification, and full
support for JCA/JCE (Java Cryptography Architecture/Java
Cryptography Extension) compliant third-party cryptography
provider. This open and flexible approach allows customers to
select the cryptographic provider they need to match their
specific requirements, platforms and skills.

"Commerce One is utilizing KeyTools XML to provide the security
to our XML based Web Services solutions. We now have the ability
to provide the most secure and advanced integration and business
community management capabilities within our Web services
solutions," said Sanjay Chikarmane, vice president of marketing
at Commerce One. "Signing at a granular level within XML enables
real-time, secure information exchange to address business needs
in an ever changing marketplace."

KeyTools XML is ideally suited for large ISVs and System
Integrators who are implementing XML and wish to make their
offerings ready for secure and trusted delivery via the Internet,
as well as very large organizations with disparate systems that
need to leverage the strengths of XML in sharing formats and data
in a web-based environment.

"By using KeyTools XML in our Business Process Manager (BPM)
product we can now encrypt and sign XML messages at a granular
level which gives us much more flexibility and higher performance
message signing capabilities than with other formats such as
S/MIME," said Adam Abrevaya, Vice President for Research &
Development for eXcelon Corporation (http://www.exln.com/).
Keytools XML has allowed us to fully implement the stringent
security requirements of the ebXML Messaging Specification v2.0
and other Web services security standards."

Baltimore offers 24x7 product support for all customers and
partners using KeyTools XML. Existing Baltimore KeyTools
customers can leverage their investment by seamlessly integrating
with KeyTools Pro to provide full PKI functionality.

About Baltimore Technologies
Baltimore Technologies' products, services and solutions solve
the fundamental security and trust needs of e-business.
Baltimore's e-security technology gives companies the necessary
tools to verify the identity of who they are doing business with
and securely manage which resources and information users can
access on open networks. Many of the world's leading
organizations use Baltimore's e-security technology to conduct
business more efficiently and cost effectively over the Internet
and wireless networks. Baltimore also offers worldwide support
for its authorization management and public key-based
authentication systems.

Baltimore's products and services are sold directly and through
its worldwide partner network, Baltimore TrustedWorld. Baltimore
Technologies is a public company, trading on London (BLM).

CONTACT: Baltimore Technologies
         Irene Dehaene, +353 1 881 6407
         E-mail: irene.dehaene@baltimore.com
         or
         Patrick McLoughlin
         Senior VP Technical Strategy
         Stand 116


BRITISH ENERGY: Belgium Files Complaints on Government Bailout
--------------------------------------------------------------
Belgian secretary of state for energy, Olivier Deleuze, confirmed
he filed a formal complaint to the European Commission regarding
the GBP410 million emergency loan granted by the U.K. government
to British Energy.

The state secretary holds that the British government's move
breaks competition rules, as it seems to consider "exempting
British Energy from the EU-approved climate change levy."

According to Mr. Deleuze's letter to EU competition commissioner,
Mario Monti, the measures "are hard to reconcile with the rules
of free competition inside the single market for electricity or
with the (EU) treaty's state aid dispositions."

A spokesman for Mr. Deleuze maintained that the letter was not
made because Belgian power interests are more at stake, but
because they also share the possible adverse effects of the move.

Earlier, Stuart Staley, U.K. managing director of American
Electric Power Co. Inc., owner of two of U.K.'s largest power
station, warns that "any government decision to grant concessions
to a private company would therefore have a direct distortionary
impact on the market by forcing competing plant to withdraw from
the market."


Mr. Deleuze also said that the complaint was filed as the
Eureopean Commission does not seem to take action about the
breach of rules.

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


CENARGO INTERNATIONAL: Moody's Lowers Rating to Caa1 From Ba3
-------------------------------------------------------------
Moody's Investors Service has downgraded the rating for first
priority ship mortgage notes of Cenargo International Plc, from
Ba3 to Caa1.  It also downgraded to Caa1 from Ba3 the senior
implied rating and the rating for secured bank facilities.

The action reflects "the significantly reduced financial
flexibility of the company as a result of cash usage caused by
service disruptions and lost market share in the first half
2002," according to Moody's

As of June 30, 2002, the company reported a free cash balance of
GBP1.7 billion. In the first nine months of the fianacial year
2002 (as of June 30), the company generated revenues of GBP 88
million and a net loss of GBP 5 million.

A series of engine breakdowns and technical problems have
disrupted business in the first two quarters of 2002.

The outlook of the rating is negative as Moody's believes that
the market condition for Cenargo's Irish Sea operations will
continue to be highly competitive.

Headquartered in Surrey, England, Cenargo is a privately owned
diversified international transportation group specializing in
European passenger and freight ferry services and freight
logistics.


ENERGIS PLC: Former Chief Executive Officer Resigns
---------------------------------------------------
David Wickham, former chief executive of telecom group, Energis
Plc, has left the group after refusing to settle to a subordinate
position, says reports.

In July, Energis appointed John Pluthero as chief executive to
team with chairman Archie Norman in refinancing the company.
David Wickham, who was then chief executive officer, was assigned
as Deputy CEO.

Finance director, Bill Trent, is also stepping down and will
leave Energis at the end of the month.  Eamonn O'Hare, chief
financial officer of Pepsi in the Far East, will replace Trent.

Invensys plc is a global leader in production technology and
energy management. The Group helps customers to improve their
performance and profitability using innovative services and
technologies and a deep understanding of their industries and
applications.

Invensys had divested non-core assets as part of its overall plan
to improve capital strength and increase strategic focus.


FILTRONIC PLC: Announces AGM Results
-------------------------------------
PR/ 01 October 2002

Filtronic announces that at its AGM on Friday 27th September
2002, all
resolutions were duly passed with the following proxies received:


Resolution                             In Favour         %
Holders

1: To receive accounts                45,956,042       97.82
307
2: Approval of dividend               45,940,939       97.82
311
3: Re-election of
Prof. JD Rhodes as a Director        31,626,993       77.79
281
4: Re-election of
Mr J Samuel as a Director            42,989,864       91.51
296
5: Re-election of
  Mr I Hardington as a Director       42,988,757       91.51
293
6: Re-appointment of Ernst & Young LLP45,773,473       97.55
288
7: To receive the remuneration report
                                      35,682,014       84.08
262
8: Director's authority to allot shares
                                      45,909,470       97.72
289
9: Disapplication of pre-emption rights
                                      45,903,644       97.71
284


Resolution
                                      Chairman's         %
Holders

Discretion
1: To receive accounts
                                       1,017,900      2.17
43
2: Approval of dividend
                                       1,017,695      2.17
41
3: Re-election of Prof. JD Rhodes as a Director
                                       1,018,395      2.51
43
4: Re-election of Mr J Samuel as a Director
                                       3,022,463      6.43
48
5: Re-election of Mr I Hardington as a Director
                                       3,022,618      6.43
49
6: Re-appointment of Ernst & Young LLP
                                       1,022,015      2.18
49
7: To receive the remuneration report
                                       1,020,415      2.41
50
8: Director's authority to allot shares
                                       1,052,198      2.24
51
9: Disapplication of pre-emption rights
                                       1,052,411      2.24
52


Resolution
                                        Against         %
Holders

1: To receive accounts
                                          5,486      0.01
6
2: Approval of dividend
                                          5,322      0.01
4
3: Re-election of Prof. JD Rhodes as a Director
                                      8,009,836     19.70
27
4: Re-election of Mr J Samuel as a Director
                                        967,101      2.06
13
5: Re-election of Mr I Hardington as a Director
                                        968,053      2.06
15
6: Re-appointment of Ernst & Young LLP
                                        126,107      0.27
17
7: To receive the remuneration report
                                      5,733,832     13.51
37
8: Director's authority to allot shares
                                         17,760      0.04
17
9: Disapplication of pre-emption rights
                                         23,373      0.05
21


Resolution
                                    Abstentions
Holders


1: To receive accounts
                                          0
0
2: Approval of dividend
                                     15,472
1
3: Re-election of Prof. JD Rhodes as a Director
                                  6,324,204
14
4: Re-election of Mr J Samuel as a Director
                                          0
0
5: Re-election of Mr I Hardington as a Director
                                          0
0
6: Re-appointment of Ernst & Young LLP
                                     57,833
2
7: To receive the remuneration report
                                  4,543,167
14
8: Director's authority to allot shares
                                          0
0
9: Disapplication of pre-emption rights
                                          0
0

NB: Percentage of votes cast excludes abstentions


GLOBAL CROSSING: Court Extends IRS Bar Date Until Year's End
----------------------------------------------------------
Global Crossing Ltd., its debtor-affiliates, and the Internal
Revenue Service sought and obtained an extension of the deadline
for the Government to file proofs of claims in these Chapter 11
cases until December 31, 2002 at 5:00 p.m., prevailing Eastern
Time. (Global Crossing Bankruptcy News, Issue No. 23; Bankruptcy
Creditors' Service, Inc., 609/392-0900)

MAN GROUP: Notification of Major Interests in Shares
----------------------------------------------------
Name of company:
Man Group plc
Name of shareholder having a major interest:
FMR Corp Group of Companies
Fidelity International Ltd Group of Companies
Name of registered holder(s) and, if more than one holder, the
number of shares held by each of them:

MSS Nominees Limited                                  45,930
shares
Chase Nominees Limited                             4,296,114
shares
RBS Trust Bank                                       630,100
shares
Bankers Trust                                      1,043,374
shares
Nortrust Nominees Ltd                                648,270
shares
BT Globenet Nominees Ltd                             118,600
shares
Bank of New York - Europe                             23,800
shares
Northern Trust                                       942,090
shares
HSBC                                                 350,973
shares
State Street Nominees Ltd                            571,662
shares
Mellon Trust                                         376,198
shares
National Cities                                       39,400
shares
Royal Trust                                           37,500
shares
HSBC Client Holdings Nominee (UK) Ltd              5,961,501
shares
Nordea                                                 5,700
shares
Bank of New York - London                            705,192
shares
State Street Bank & Trust                            707,021
shares
NAB - Australia                                      129,048
shares
Mellon Bank                                          115,250
shares
Credit Suisse FST BOS Zurich                           5,000
shares
State Street Bank & Trust                            608,196
shares
Citibank                                              67,770
shares
Bank of Bermuda                                       59,170
shares
Japan Trustee Svcs Bk Lt                               7,400
shares
Deutsche Bank AG, London                             143,555
shares
Mitsubishi Trust                                       6,900
shares
Chuo Trust Bank                                        7,340
shares
JP Morgan                                            200,171
shares
Brown Brothers Harriman                                7,600
shares
Mellon Nominees Ltd                                   45,800
shares
Chase Manhattan Bank London                          144,214
shares
Daiwa Trust Bank                                       5,900
shares
Master Trust Bank of Japan                            15,500
shares
Bank of New York, Brussels                            57,549
shares

Number of shares/amount of stock disposed: 662,207
Percentage of issued class: 0.21%
Class of security: Ordinary Shares of 10p each
Date company informed: October 2 2002
Total holding following this notification: 18,129,788
Total percentage holding of issued class following this
notification:
5.84%
Contact name for queries:
Mr Barry Wakefield

Contact telephone number:
020 7285 3254
Name of company official responsible for making notification:
Mr Peter Clarke, Company Secretary
Date of notification: October 2 2002

Additional Information:
The notifiable interests also comprise the notifiable interest of
Mr Edward C Johnson 3rd, a principal shareholder of FMR Corp and
Fidelity International Limited.

The notifiable interests include interests held on behalf of
authorised Unit Trust Schemes in the U.K. notwithstanding the
exemption from reporting pursuant to S.209 (l) (h) of the
Companies Act 1985.


SCOTTISH MUTUAL: Parent Dismisses Insolvency Speculations
---------------------------------------------------------
Mortgage bank Abbey National denied solvency problems in its life
assurance operation, Glasgow-based Scottish Mutual, says The
Scotsman.

Speculation came out that the business is in trouble after
reports that the bank injected as much as GBP300 million into the
insurer for the past three months. A spokeswoman for Britain's
sixth-biggest bank, maintains: "We don't need to update the
market every time we move capital within our business," adding
that Abbey is satisfied with Scottish Mutual's financial health.

The spokeswoman, however, refused to comment on the cash
injection rumor, although she admitted that the GBP325 million
emergency funding provided to the firm in June anticipates
further falls in the stock market.

The parent bank injected cash to the insurer in two
installations: one worth GBP175 million early in the year, and
then another GBP150 million in June.

Abbey National shares closed 1.4 per cent up at 561.5p.


PACE MICRO: Notifies of Directors' Interests in Ordinary Shares
---------------------------------------------------------------
Pace Micro Technology plc was informed on 1 October 2002 that the
under-mentioned Director allowed his options over ordinary shares
in the Company under the terms of the Company's Sharesave Scheme
to lapse on 1 October
2002:

Director     Number of options      Exercise price   Exercisable
                                    Per share
Neil Gaydon  6,919                   84p              01.04.2002
to
                                                      30.09.2002

The above Director is not disposing of any ordinary shares in the
Company.

CONTACT: Caroline Hall
         (Assistant Company Secretary)
         Tel: 01274 537119


UK COAL: Notification of UK Coal Employee Share Trust
-----------------------------------------------------
The UK COAL Employee Share Trust has purchased 800,000 shares, at
67p per share, which have been acquired to satisfy potential
awards under the above plan.

As a result of the transaction, the UK COAL Employee Share Trust
now holds a total of 858,664 shares, representing 0.61% of the
Company's issued capital (excluding the shares held as nominees
for executive directors under the Bonus Share Matching Plan).
The executive directors are deemed for the purposes of The
Companies Act, to be interested in all the shares held by the UK
COAL Employee Share Trust.


WORLDCOM INC: Creditors' Committee Hires Akin Gump as Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors seek the Court's
authority to retain Akin Gump Strauss Hauer & Feld LLP as its
counsel, in the chapter 11 cases involving Worldcom Inc., and its
debtor-affiliates, nunc pro tunc to July 29, 2002.

The Committee explains that it is necessary and appropriate to
retain Akin Gump to provide these services:

-- advise the Committee with respect to its rights, duties and
   powers in these cases;

-- assist and advise the Committee in its consultations with the
   Debtors relative to the administration of these cases;

-- assist the Committee in analyzing the claims of the Debtors'
   creditors and the Debtors' capital structure and in
   negotiating with holders of claims and equity interests;

-- assist the Committee in its investigation of the acts,
   conduct, assets, liabilities and financial condition of the
   Debtors and of the operation of the Debtors' businesses;

-- assist the Committee in its analysis of, and negotiations
   with, the Debtors or any third party concerning matters
   related to, among other things, the assumption or rejection
   of certain leases of non-residential property and executory
   contracts, asset dispositions, financing of other
   transactions and the terms of a plan of reorganization for
   the Debtors and accompanying disclosure statement and related
   plan documents;

-- assist and advise the Committee as to its communications to
   the general creditor body regarding significant matters in
   these Cases;

-- represent the Committee at all hearings and other
   proceedings;

-- review and analyze applications, orders, statement of
   operations and schedules filed with the Court and advise the
   Committee as to their propriety;

-- assist the Committee in preparing pleadings and applications
   as may be necessary in furtherance of the Committee's
   interests and objectives; and

-- perform any other legal services as may be required or are
   otherwise deemed to be in the best interests of the Committee
   in accordance with the Committee's powers and duties as set
   forth in the Bankruptcy Code, Federal Rules of Bankruptcy
   Procedures or other applicable law.

Committee Chairperson Van Greenfield believes that Akin Gump
possesses extensive knowledge and expertise in the areas of law
relevant to these cases, and that Akin Gump is well qualified to
represent the Committee in these cases.  In selecting attorneys,
the Committee looked for a counsel with considerable experience
in representing unsecured creditors in Chapter 11 reorganization
cases, other debt restructurings and telecommunication matters.

Akin Gump has this experience since it is currently representing
and has represented official creditors' committees in many
significant Chapter 11 reorganizations including: In re Aetna
Industries Inc.; In re Dairy Mart Convenience Stores Inc.; In re
Exide Technologies Inc.; In re Flag Telecom Holdings Limited; in
re Fountain View Inc.; In re Globalstar L.P.; In re Heilig Meyers
Company; In re Kaiser Aluminum Corporation; In re Lernout &
Hauspie Speech Products N.V.; In re LTV Steel Company Inc.; In re
Polaroid Corporation; In re Sterling Chemical Holdings Inc.; In
re Verado Holdings Inc.; and In re XO Communications Inc.

Akin Gump will charge for its services in an hourly basis in
accordance with its ordinary and customary hourly rates in effect
on the date the services are rendered.  The current hourly rates
charged by Akin Gump for professionals and paraprofessionals are:

Partners                            $400 - 700
Special Counsel and Counsel          285 - 600
Associates                           185 - 430
Paraprofessionals                     55 - 165

Akin Gump's professionals currently expected to have primary
responsibility for providing services to the Committee are:

          Name               Position      Hourly Rate
    ------------------       ---------     -----------
    Daniel H. Golden         Partner         $675
    Michael S. Stramer       Partner          550
    Ira S. Dizengoff         Partner          475
    James R. Savin           Associate        350
    Philip C. Dublin         Associate        320
    Kenneth A. Davis         Associate        320
    Nava Hazan               Associate        280

Akin Gump Partner Daniel H. Golden, Esq., assures the Court that
the Firm neither holds nor represents any interest adverse to the
Creditors' Committee, the Debtors, their creditors or other
parties-in-interest in these Chapter 11 cases.  In addition,
Akin Gump is a "disinterested person" within the meaning of the
Bankruptcy Code.  However, Akin Gump has in the past and
currently represents these companies on matters wholly unrelated
to these cases:

A. Unsecured Creditors:  Deutsche Bank, Bank of Nova Scotia,
   Bank One, Electronic Data Systems, Motorola Inc., ABN Amro
   Bank NV, Texas State Treasurer, Citibank N.A., Credit
   Lyonnais, Bayerische Landesbank, AT&T Corp., Hewlett Packard,
   Wells Fargo Bank N.A., AMR Corp., Mellon Bank, Fleet National
   Bank, Banco Bilbao Vizcaya, Sprint Corp., Verizon
   Communications, Royal Bank of Scotland, Arab Bank PLC, Cisco
   Systems and Westpac;

B. Bondholders:  JP Morgan Chase, Bank of New York, Goldman
   Sachs, Deutsche Bank, Salomon Smith Barney, Merill Lynch,
   Bear Sterns, Morgan Stanley, Citibank, UBS Warburg, CS First
   Boston, BT Alex Brown, American Express, Prudential
   Insurance, Pershing/DLJ, First Union Bank, Lehman Bros., Bank
   of Nova Scotia, Barclays Capital, ABN Amro Bank N.V., State
   Street Bank, Northern Trust, Investors Bank & Trust, PNC
   Bank, Charles Schwartz, and A.G. Edwards & Sons Inc.;

C. Bank Lenders:  Bank of Nova Scotia, Bayerische Landesbank,
   Credit Lyonnais, Wells Fargo Bank, JP Morgan Chase, Bank One
   N.A., Citibank N.A., Deutsche Bank, ABN Amro Bank N.V.,
   Westpac, Banco Bilbao Vizcaya, Mellon Bank, Arab Bank PLC,
   Fleet National Bank, and Royal Bank of Scotland;

D. Underwriters:  Arthur Andersen, Bear Sterns, ABN Amro Bank
   NV, Citibank NA, Deutsche Bank, Goldman Sachs, Salomon Bros.,
   Paine Webber, Bank of America, BT Alex Brown, CIBC World
   Markets, CSFB, Donaldson Lufkin Jenrette, JP Morgan Chase,
   UBS Warburg, Morgan Stanley, Westdeutsche Landesbank, Legg
   Mason Wood Walks, Robertson Stephens, Fleet National Bank,
   and Nations Bank;

E. Indenture Trustees:  Bank of New York, Citibank NA, US Trust
   Company of New York, JP Morgan Chase, Wilmington National
   Bank, Mellon Bank, Fleet National Bank, Nations Bank, State
   Street Bank, and Texas Commerce Bank;

F. Significant Shareholders:  AXA Financial Inc., Deutsche Bank,
   Bank of New York, Citibank NA, and Lehman Bros. (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-
published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
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.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
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Information contained herein is obtained from sources believed to
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The TCR Europe subscription rate is US$575 per half-year,
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