TCREUR_Public/041103.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

          Wednesday, November 3, 2004, Vol. 5, No. 218

                            Headlines

C Z E C H   R E P U B L I C

TEXTILANA CZ: Owes Employees Three Months Wages


F R A N C E

BARBARA BUI: Forecasts Full-year Loss
CMS 21: Dijon Court Orders Liquidation
DODANE MECA: Car Dealer in Liquidation
ELITECH: Liquidator Enters Firm
SARL MENUISERIE: Commercial Court Appoints Liquidator
SNC CAZEL: To Close Second Week of December


G E R M A N Y

ARBEITERWOHLFAHRT IM REMSTAL: Under Bankruptcy Administration
AWO SOZIALE: Creditors' Claims Due Next Week
BIF BILDUNGSFORUM: Essen Court Appoints Administrator
DAIMLERCHRYSLER AG: Operating Profit Increases by 7%
DUINEN INDUTECH: Succumbs to Bankruptcy

FFP GRUNDBESITZ: Creditors Have Until Next Week to File Claims
HAVARIA VERWERTUNGSGESELLSCHAFT: Files for Bankruptcy
MAURER & BETONBAU: Creditors' Meeting Set December
PCG PROVIDER: Court Appoints Junker & Kollegen Administrator
REIT- UND FAHRVEREIN: Creditors' Claims Due this Month
ROLLADEN-MARKISEN: Calls First Creditors' Meeting
SENATOR ENTERTAINMENT: Deutsche Bank Sells More Share


H U N G A R Y

MAGYAR HIRLAP: Printing Last Issue this Friday


I R E L A N D

ELAN CORPORATION: US$850 Million Notes Assigned 'B-' Rating


I T A L Y

APRILIA SPA: Banks Okay Piaggio Takeover
BANCA INTESA: Individual Rating Affirmed at 'B/C'
BARILLA: Increasing Efficiency, Cutting Cost to Contain Slump
CIT SPA: Regulator Places Firm Under Surveillance
PARMALAT AUSTRALIA: Warwick Staff Choose Redundancy
PARMALAT FINANZIARIA: Claims Rejection Without Basis, Says Bank


N E T H E R L A N D S

ASM INTERNATIONAL: Third-quarter Net Earnings Return to Black
GETRONICS N.V.: Expects Full-year Results to be Positive
GETRONICS N.V.: Sells Non-core Activity in Benelux
GETRONICS N.V.: To Offer ICT Services Globally with PinkRoccade
KONINKLIJKE AHOLD: Cencosud Gets Controlling Interest in Disco
NEW SKIES: U.S. Regulator Okays Sale to Blackstone Affiliate
VILENZO INTERNATIONAL: Seeks Suspension of Payment


R U S S I A

ABSOLUT BANK: Individual Rating Affirmed at 'B-'
BELOMORIT: Court Prescribes Bankruptcy Supervision Procedure
BOLOGOVSKIY MEAT: Under Bankruptcy Supervision
DYUMINICHESKIY OPEN: Proofs of Claim Deadline Expires December
INDUSTRIAL BUILDING: Insolvency Manager to Temporarily Run Firm

INVEST-MET: Applies for Bankruptcy Proceedings
KLETINSKIY ENGINEERING: Declared Insolvent
ORLOVSKOGO ORDENA: Orel Court Appoints Insolvency Manager
PRIMORSKIY FISH: Succumbs to Bankruptcy
STAVROPOLSKOYE PUBLISHING: Names I. Gorelov Insolvency Manager
TECHNICAL REPAIR: Under Bankruptcy Supervision
UGRANSKAYA PRINTING-HOUSE: Bankruptcy Proceedings Begin


S P A I N

IZAR: Basque Workers to Draft Alternative Plan


U K R A I N E

AGROIMPEX: Court Appoints Temporary Insolvency Manager
ARITON: Sets Proofs of Claim Deadline
AUSKOPRUT: Liquidator Moves in
EXPO-TRADE: Court Opens Bankruptcy Proceedings
VIN-EKS+: Bankruptcy Supervision Begins
VORONIVSKE: Under Bankruptcy Supervision
YENAKIEVE' HABERDASHERY: Declared Insolvent


U N I T E D   K I N G D O M

ABSA GROUP: Individual Ratings Raised to 'B/C'
ANGLIA TRAILBLAZERS: Names Bull & Co. Administrator
ASHTEAD GROUP: Expects Profit to Surpass Expectations
BARCLAYS AEROSPACE: Names Deloitte & Touche Liquidator
B-BUSINESS PARTNERS: Hires Joint Liquidators from PwC

CLOWINS LIMITED: Members Pass Winding up Resolutions
CRAIGNISH LIMITED: Members Agree to Liquidate Business
ESQUIRE CHAUFFEUR: Top Honcho Banned for More than Two Years
GOODWOOD FLEET: Hires Administrators from PKF
GTS-VOX LIMITED: Calls in Liquidators from PwC

INTERNATIONAL POWER: RWE Gives Way in Portugal Plant Buyout
IN-TOUCH CREATIVE: Liquidator to Present Final Report
IP SUPPORT: Appoints CBA Administrator
JPMP MOZART: Hires Joint Liquidators from Deloitte & Touche
KLINGER ALLAN: Sets Deadline for Proofs of Claim

LINCOLN AUCTION: Calls in Liquidator from Jackson Jolliffe Cork
MARCONI CORPORATION: Chief Operating Officer Quits
MAURICE MILLARD: Names Baker Tilly Administrator
MURRAY EMERGING: Ernst & Young Called in as Liquidator
NORTEX LIMITED: Members Call in Liquidator

OCEAN OPERATIONS: Hires CLB as Administrator
ROBINSON LLOYD: Three-year Ban for Former Director
S P PLASTICS: Names Moore Stephens Administrator
S R DEMOLITION: Hires PricewaterhouseCoopers as Administrator
STIRLING SECURITY: Insolvency Service Bans Two Directors

STONEGLADE LIMITED: Holds Final Meetings
TRAESKO 12: Sets Meeting of Creditors Next Week
WH SMITH: Shareholders May Opt to Receive 85p per C Share


                            *********


===========================
C Z E C H   R E P U B L I C
===========================


TEXTILANA CZ: Owes Employees Three Months Wages
-----------------------------------------------
The new owner of textile manufacturer Textilana CZ missed a
deadline to deliver its promised payment for three months worth
of wages to employees, just-style.com reports.

Textilana CZ restarted productions in November last year after
being acquired by Prague-based Profit.  It rehired 200 of the
company's workers at the time.  In recent months, however, the
company suffered a cash crunch, forcing it to shut down
operations, and withhold salaries.  It promised to pay workers
their wages in full by the end of October.

Textilana CZ is involved in wool fabrics production and textile
printing.  It operates from Nove Mesto pod Smrkem, northern
Bohemia.

CONTACT:  TEXTILANA CZ
          Frydlantska 422 Nove Mesto pod Smrkem
          Czech Republic 422 00
          Phone: 420-2-24032121
          Fax: 420-2-24032121
          Contact: Mr. Vladimir Tichyhas, General Director


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


BARBARA BUI: Forecasts Full-year Loss
-------------------------------------
Ready-to-wear clothing group Barbara Bui fell into the red in
the first-half due to a slump in demand during the spring and
summer seasons.

The company reported a loss of EUR400,000 for the period as
sales and orders for its 2004 spring/summer collection dropped.
It made a profit of EUR100,000 last year.  Operating losses were
EUR600,000 compared with an operating profit of EUR400,000 last
time.  Net result for 2004 is expected to be negative.  On a
positive note, the company said orders for the 2005
spring/summer seasons are 15% ahead of last year.  It is
forecasting a turnover of around EUR20 million.

CONTACT:  BARBARA BUI
          Phone: 01 44 59 94 00
          Web site: http://www.barbarabui.com/
          Contact:
          William Halimi, President
          Jean-Michel Lagarde, Director


CMS 21: Dijon Court Orders Liquidation
--------------------------------------
The Commercial Court of Dijon placed CMS 21 (B 449 879 485) into
liquidation on October 12, 2004 and appointed Mr. Ph. Maitre
liquidator.  Creditors are urged to submit their proofs of claim
to the liquidator as soon as possible.  The company distributes
metallic constructions.

CONTACT:  CMS 21
          3-5 Rue de la Breuchilliere
          21000 DIJON

          Ph. Maitre, Liquidator
          19 Albert-Camus Avenue
          21000 DIJON


DODANE MECA: Car Dealer in Liquidation
--------------------------------------
The Commercial Court of Dijon placed Dodane Meca (B 331 128 009)
into liquidation on October 12, 2004 and appointed Ph. Maitre
liquidator.  Creditors are urged to submit their proofs of claim
to the liquidator as soon as possible.  The company sells cars.

CONTACT:  DODANE MECA
          Route de Romprey
          21510 Minot

          Mr. Ph. Maitre
          Liquidator
          19 Albert-Camus Avenue
          2100 Dijon


ELITECH: Liquidator Enters Firm
-------------------------------
The Commercial Court of Dijon placed Elitech (B 414 870 519)
into liquidation on October 12, 2004 and appointed Ph. Maitre
liquidator.  Creditors are urged to submit their proofs of claim
to the liquidator as soon as possible.

CONTACT:  ELITECH
          14 Rue du Minigolf Prenois
          21370 Plombieres-Les-Dijon

          Mr. Ph. Maitre
          Liquidator
          19 Albert-Camus Avenue
          2100 Dijon


SARL MENUISERIE: Commercial Court Appoints Liquidator
-----------------------------------------------------
The Commercial Court of Dijon placed Sarl Menuiserie 21 (B 421
593 799) into liquidation on October 12, 2004 and appointed SCP
Cure-Thiebaut liquidator.  Creditors are urged to submit their
proofs of claim to the liquidator as soon as possible.  The
company manufactures joineries, plastics and ironworks.

CONTACT:  SARL MENUISERIE 21
          Rue Haute
          21520 Lignerolles

          SCP Cure-Thiebaut, Liquidator
          78, Avenue Victor-Hugo
          BP 81556, 21015 Dijon Cedex


SNC CAZEL: To Close Second Week of December
-------------------------------------------
The Commercial Court of Dijon placed SNC Cazel Et Cie (B 383 656
733) into liquidation on October 12, 2004 and appointed SCP
Cure-Thiebaut liquidator.  Creditors are urged to submit their
proofs of claim to the liquidator as soon as possible.  The
court has allowed the company to continue operating until
December 14, 2004.  It owns and operates cafes, bars,
restaurants and hotels.

CONTACT:  SNC CAZEL ET CIE
          Route de Dijon
          21270 Pontailler-Sur-Saone

          SCP Cure-Thiebaut, Liquidator
          78, Avenue Victor-Hugo
          BP 81556, 21015 Dijon Cedex


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


ARBEITERWOHLFAHRT IM REMSTAL: Under Bankruptcy Administration
-------------------------------------------------------------
The district court of Stuttgart opened bankruptcy proceedings
against Arbeiterwohlfahrt im Remstal gemeinntzige GmbH,
Ambulant-Pflege- und Betreuungsdienste on Oct. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Nov. 12, 2004 to
register their claims with court-appointed provisional
administrator Dr. Tibor Daniel Braun.

Creditors and other interested parties are encouraged to attend
the meeting on Dec. 9, 2004, 10:30 a.m. at AG Stuttgart,
Hauffstr. 5, EG, Saal 4 at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  ARBEITERWOHLFAHRT IM REMSTAL GEMEINNUTZIGE GMBH,
          AMBULANT-PFLEGE- UND BETREUUNGSDIENSTE
          Wiesenstr. 20, 73614 Schorndorf
          Contact:
          Edgar Knobloch, Manager

          Dr. Tibor Daniel Braun, Insolvency Manager
          Kriegerstr. 3, 70191 Stuttgart
          Phone: 0711/2255830
          Fax: 0711/22558320


AWO SOZIALE: Creditors' Claims Due Next Week
--------------------------------------------
The district court of Stuttgart opened bankruptcy proceedings
against AWO Soziale Dienste gemeinnutzige GmbH on Oct. 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Nov. 12, 2004
to register their claims with court-appointed provisional
administrator Dr. Tibor Daniel Braun.

Creditors and other interested parties are encouraged to attend
the meeting on Dec. 9, 2004, 11:00 a.m. at AG Stuttgart,
Hauffstr. 5, EG, Saal 4 at which time the administrator will
present his first report of the insolvency proceedings.  The
court will verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  AWO SOZIALE DIENSTE GEMEINNUTZIGE GMBH
          Daimlerstr. 12, 71364 Winnenden
          Contact:
          Edgar Knobloch, Manager

          Dr. Tibor Daniel Braun, Insolvency Manager
          Kriegerstr. 3, 70191 Stuttgart
          Phone: 0711/2255830
          Fax: 0711/22558320


BIF BILDUNGSFORUM: Essen Court Appoints Administrator
-----------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against Bif Bildungsforum Bottrop GmbH on Oct. 13.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Nov. 24, 2004
to register their claims with court-appointed provisional
administrator Werner F. Muhlenbrock.

Creditors and other interested parties are encouraged to attend
the meeting on Dec. 9. 2004, 9:10 a.m. at the insolvency court
of Essen Hauptstelle, Zweigertstr. 52, 45130 Essen, I. OG,
gelber Bereich, Saal 186 at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

Bif offers training courses on computer programs and software.

CONTACT:  BIF BILDUNGSFORUM BOTTROP GMBH
          Robert-Florin-Str. 4, 46238 Bottrop

          Werner F. Muhlenbrock, Insolvency Manager
          Bahnhofstr. 46, 45879 Gelsenkirchen
          Phone: 0209/1553490
          Fax: 0209-1553488


DAIMLERCHRYSLER AG: Operating Profit Increases by 7%
----------------------------------------------------
DaimlerChrysler AG achieved a third-quarter operating profit of
EUR1.3 billion, surpassing the prior-year result of EUR1.2
billion by 7%.

Net income for the third quarter amounted to EUR1.0 billion (Q3
2003: net loss of EUR1.7 billion, including a EUR2 billion
impairment on investment in EADS).  Earnings per share improved
to EUR0.94 (Q3 2003: a loss per share of EUR1.63).

Against the backdrop of slightly weaker growth in the worldwide
automobile economy, DaimlerChrysler sold a total of 1.1 million
vehicles in the third quarter, surpassing the figure for the
same quarter last year by 2%.  Total revenues increased by 2% to
EUR34.9 billion, despite the appreciation of the Euro against
the U.S. dollar, mainly due to the higher unit sales.  Adjusted
for changes in the consolidated Group and currency-translation
effects, there was growth of 4%.

The operating profit achieved by the Mercedes Car Group of
EUR304 million was lower than in the prior-year quarter, due to
the predominantly lifecycle-related change in the model mix at
Mercedes-Benz Passenger Cars, high launch and startup costs for
the second product offensive, and the costs of the ongoing
comprehensive quality offensive.  There was also a negative
impact on earnings from the strength of the Euro against the US
dollar.  At smart, operating profit was significantly affected
by higher marketing costs and lower unit sales of some models.

With an operating profit of EUR217 million in the third quarter
the Chrysler Group exceeded its prior-year earnings (EUR147
million) yet again.  Operating profit for Q3 2004 includes
restructuring charges of EUR104 million for the closure and
disposal of manufacturing facilities.  The increased earnings
are primarily a result of an improved model mix and lower sales
incentives, due to the market success of the new products.

Due to expenses of EUR405 million, in the third quarter, as a
result of recall campaigns and quality-improving measures at
MFTBC, Commercial Vehicles' operating profit of EUR159 million
did not reach the result of the prior-year quarter (EUR198
million).  On the other hand, there was exceptional income of
EUR60 million from the ending of the truck-engine joint venture
with Hyundai Motor.

The Services division improved its third-quarter operating
profit from EUR284 million to EUR412 million, despite a charge
of EUR119 million in respect of Toll Collect.  The increase in
earnings is primarily a result of the improved portfolio quality
and reduced need for risk provisioning.

The Other Activities segment increased its operating profit to
EUR258 million (Q3 2003: operating loss of EUR104 million).  The
result includes a positive contribution from the settlement
reached with Bombardier to end the arbitration proceedings
regarding the disposal of Adtranz (EUR120 million).

For full-year 2004, the Mercedes Car Group anticipates a slight
increase in unit sales over the prior year's volume of 1.2
million passenger vehicles.  Operating profit will be
substantially lower than last year as a result of a changed
model mix, higher marketing expenditure and lower unit sales of
some models at smart, exchange-rate effects, increased advance
expenditure for new products, and the comprehensive quality
offensive.

The Chrysler Group is convinced that the positive developments
of the first three quarters will continue, due in particular to
the success of its new products.  Despite the difficult market
environment with a continuation of high sales incentives, the
Chrysler Group expects to achieve considerable positive earnings
in full-year 2004.

Despite charges relating to MFTBC's recall campaigns and quality
measures, the Commercial Vehicles division expects a significant
improvement in operating profit for the year 2004.  The main
reasons for this positive development are the increased unit
sales, together with the division's attractive product range and
its cost-cutting programs.

The positive business trend in the field of automobile related
financial services should continue for the Services division,
although the latest interest-rate rises could have a negative
impact on refinancing costs.  Toll Collect's preparations to
introduce its toll system for trucks in Germany on January 1,
2005 are running according to plan.  Operating profit for full-
year 2004 might be lower than the very high level of 2003,
however, due to charges related to the division's shareholding
in Toll Collect.

Based on the above assessments, DaimlerChrysler continues to
expect a significant improvement in operating profit for the
full year compared with 2003 (EUR5.1 billion excluding
restructuring expenditures at the Chrysler Group and excluding
the capital gain realized on the sale of MTU Aero Engines).

CONTACT:  DAIMLERCHRYSLER AG
          Epplestrasse 225
          70546 Stuttgart
          Phone: +49-711-17-0
          Fax: +49-711-17-94022
          Web site: http://www.daimlerchrysler.com
                    http://www.media.daimlerchrysler.com


DUINEN INDUTECH: Succumbs to Bankruptcy
---------------------------------------
The district court of Munster opened bankruptcy proceedings
against Duinen Indutech GmbH on Oct. 31.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Dec. 6, 2004 to register their
claims with court-appointed provisional administrator Andreas
Sontopski.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 13, 2005, 10:45 a.m., Gebaudeteil Eingang B,
Gerichtsstrasse 2 - 6, 48149 Munster, I., Saal 101 B at the
insolvency court of Munster at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

Duinen sells chamber filter presses and accessories for
industrial filtration.

CONTACT:  DUINEN INDUTECH GMBH
          Fabrikstrasse 64, 48599 Gronau
          []

          Andreas Sontopski, Insolvency Manager
          Gnoiener Platz 1, 48493 Wettringen
          Phone: 02557/9384-0
          Fax: +492557938450


FFP GRUNDBESITZ: Creditors Have Until Next Week to File Claims
--------------------------------------------------------------
The district court of Dusseldorf opened bankruptcy proceedings
against FFP Grundbesitz & Anlagen AG on Oct. 13.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Nov. 11, 2004 to
register their claims with court-appointed provisional
administrator Friedrich Wilhelm Metzeler.

Creditors and other interested parties are encouraged to attend
the meeting on Dec. 9, 2004, 10:00 a.m. at the district court of
Dusseldorf Hauptstelle, Muhlenstrasse 34, 40213 Dusseldorf, 3.
OG Altbau, A 341 at which time the administrator will present
his first report of the insolvency proceedings.  The court will
verify the claims set out in the administrator's report during
this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  FFP GRUNDBESITZ & ANLAGEN AG
          Hammer Strasse 26, 40219 Dusseldorf
          Contact:
          Vorstand Heiko Fassel, Manager
          Bismarckstr. 21, 40668 Meerbusch

          Friedrich Wilhelm Metzeler, Insolvency Manager
          Rheinort 1, 40213 Dusseldorf


HAVARIA VERWERTUNGSGESELLSCHAFT: Files for Bankruptcy
-----------------------------------------------------
Discount retailer Havaria Verwertungsgesellschaft has applied
for insolvency proceedings, Frankfurter Allgemeine Zeitung says.

Receiver Jorg Nerlich says insolvency proceedings would commence
on December 1, 2004.  The company recorded EUR10 million in
turnover, but incurred a similar amount of debt in 2003.
Havaria's troubled situation stemmed from high rent costs,
augmented by a weak retail market.  The discount chain also
suffered from high purchasing costs, as it cannot order
considerable amount of goods from suppliers, unlike larger low-
priced stores like Lidl and Aldi.

The company is reportedly holding talks with two possible
buyers.  Havaria almost succumbed when a creditor bank called in
its loans last year, but sole shareholder and managing director
Metin Ilica promptly bailed the company out in April 2003.

CONTACT:  HAVARIA VERWERTUNGSGESELLSCHAFT mbH
          Fischbachstrasse 31-39
          50127 Bergheim
          Phone: +49 (02271) 909-0
          Fax: +49 (02271) 909-111
          E-mail: info@havaria.de
          Web site: http://www.havaria.de


MAURER & BETONBAU: Creditors' Meeting Set December
--------------------------------------------------
Creditors and other interested parties in Maurer & Betonbau
Dresden Limited are encouraged to attend a meeting on Dec. 15,
2004 10:00 a.m. at the district court of Dresden Olbrichtplatz
1, 01099 Dresden for the administrator's first insolvency
proceedings report.  Maurer has been under bankruptcy
proceedings since Oct. 5.

The court will also verify the claims set out in the
administrator's report during this meeting, while creditors may
constitute a creditors committee and or opt to appoint a new
insolvency manager.

CONTACT:  MAURER & BETONBAU DRESDEN LIMITED
          Pirnaer Landstrasse 57 in 01237 Dresden

          MUNZ . ILLE . BEDEN
          Matthias Ronsch, Insolvency Manager
          Gustav-Adolf-Strasse 6b
          01219 Dresden
          http://www.mhb-anwalt.de


PCG PROVIDER: Court Appoints Junker & Kollegen Administrator
------------------------------------------------------------
The district court of Dresden opened bankruptcy proceedings
against PCG Provider Center GmbH Dresden on Sept. 24.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Nov. 18, 2004
to register their claims with court-appointed provisional
administrator Dr. Christoph Junker of Junker & Kollegen.

Creditors and other interested parties are encouraged to attend
the meeting on Dec. 16, 2004, 10:30 a.m. at Saal D132,
Amtsgericht Dresden, Olbrichtplatz 1, 01099 Dresden at which
time the administrator will present his first report of the
insolvency proceedings.  The court will also verify the claims
set out in the administrator's report during this meeting, while
creditors may constitute a creditors committee and or opt to
appoint a new insolvency manager.

CONTACT:  PCG PROVIDER CENTER GMBH DRESDEN
          Muhlenstrasse 6 in 01257 Dresden

          Dr. Christoph Junker, Insolvency Manager
          Karcherallee 25a, 01277 Dresden
          http://www.junker-kollegen.de


REIT- UND FAHRVEREIN: Creditors' Claims Due this Month
------------------------------------------------------
The district court of Hanau opened bankruptcy proceedings
against Reit- und Fahrverein e.V., on Oct. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Nov. 19, 2004 to register their
claims with court-appointed provisional administrator Dirk
Pfeil.

Creditors and other interested parties are encouraged to attend
the meeting on Nov. 30, 2004, 8:00 a.m. at Raum E03,
Aussenstelle Insolvenzgericht, Engelhardstrasse 21, 63450 Hanau
at which time the administrator will present his first report of
the insolvency proceedings.  The court will verify the claims
set out in the administrator's report on the same day, 8:10
a.m., at the same venue.

CONTACT:  REIT- UND FAHRVEREIN E.V.,
          Hof Altenburg, 63612 Bad Orb
          Contact:
          Rolf Heinrich Heise, Board of Director
          Kinzigweg 11, 63163 Bad Orb

          Dr. Peter Michael Link, Board of Director
          Hubertusstr. 33, 63162 Bad Orb

          Dirk Pfeil, Insolvency Manager
          Eschersheimer Landstrasse 60, 60017 Frankfurt/Main
          Phone: 069/1530960
          Fax: 069/15309666


ROLLADEN-MARKISEN: Calls First Creditors' Meeting
-------------------------------------------------
The district court of Berlin-Charlottenburg opened bankruptcy
proceedings against Schneider Rolladen-Markisen Fabrik
Gesellschaft zur Herstellung von Sonnenschutzanlagen mbH on Oct.
8.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until Dec. 29,
2004 to register their claims with court-appointed provisional
administrator Rolf Nacke.

Creditors and other interested parties are encouraged to attend
the meeting on Dec. 1, 2004, 9:45 a.m. at which time the
administrator will present his first report of the insolvency
proceedings.  The court will verify the claims set out in the
administrator's report on Feb. 23, 2005, 9:35 a.m. at the
district court of Charlottenburg Amtsgerichtsplatz 1, 14057
Berlin, II. Stock Saal 218.

CONTACT:  ROLLADEN-MARKISEN FABRIK GESELLSCHAFT ZUR HERSTELLUNG
          VON SONNENSCHUTZANLAGEN MBH
          Marienfelder Allee 197,12279 Berlin

          Rolf Nacke, Insolvency Manager
          Gross-Berliner Damm 73 c, 12487 Berlin


SENATOR ENTERTAINMENT: Deutsche Bank Sells More Share
-----------------------------------------------------
Senator Entertainment's main stockholder, Deutsche Bank London,
has sold another 13% stake in the troubled film producer and
distributor to U.S. firm Stark Investments, Borsen Zeitung says.

The bank recently sold Senator shares to U.S.-based Marathon
Asset Management, U.K.-based Meteora Partners and its Cayman
Island-based investment funds.  Deutsche Bank gained a 72% stake
in Senator after taking over Senator Entertainment's EUR168
million debt in May and completing a capital increase in
October.  Deutsche Bank's stake now stands at 35.2%.

Senator Entertainment, which is the country's second-largest
film producer and distributor, filed for insolvency protection
in April after a massive write-down.

CONTACT:  SENATOR ENTERTAINEMNT A.G.
          RansketraBe 3
          D-10789 Berlin
          E-mail: info@senator.de
          Web site: http://www.senator.de

          Karl W. Homburg
          Investor Relations
          Phone: +49 30 88091-612
          Fax: +49 30 88091-616
          E-mail: investor@senator.de

          DEUTSCHE BANK A.G. LONDON
          6th Floor
          Winchester House
          Great Winchester Street
          London EC2N 2DB
          Phone: (020) 7545 8000
          Fax: (020) 7547 4577
          Web site: http://www.deutsche-bank.de


=============
H U N G A R Y
=============


MAGYAR HIRLAP: Printing Last Issue this Friday
----------------------------------------------
Swiss Ringier AG has decided to fold up its Hungarian nationwide
daily broadsheet Magyar Hirlap due to unsustainable losses,
Budapest Business Journal reports.

Ringier Publishing House Kft told the press it will stop
printing the daily this Friday.  "Since 2001, Magyar Hirlap has
generated more than HUF1.5 billion of losses.  With the current
market trends, these are unlikely to be recouped in the
foreseeable future," said Bela Papp, managing director of the
local Ringier.

According to the Hungarian Distribution Monitoring Association
(Matesz), overall sales figures for nationwide broadsheets have
been continuously declining since 1995.

Ringier tried to find potential investors for the daily but
failed to reach agreement before the end of October deadline.
Ms. Papp did not give details of the talks, but said the
original plan was to close down the paper in the summer.
Budapest Business Journal learned from other sources that OTP
Bank Rt chairman-CEO Sandor Csanyi is one of the investors that
have been in talks with the publisher.

Ringier acquired the title from another Swiss company Marquard
Media Group in December.  It attempted to modernize the daily,
while cutting costs.  It managed to improve the paper's results,
but still revenues are not enough to cover costs, the report
said.

Magyar Hirlap sold 28,155 copies daily in the second quarter,
according to Matesz.


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


ELAN CORPORATION: US$850 Million Notes Assigned 'B-' Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned 'B-' senior
unsecured debt ratings to a joint proposed offering of US$850
million in senior unsecured notes, due 2011, that will be issued
by Elan Finance PLC and Elan Finance Corporation Ltd., two
wholly owned subsidiaries of specialty pharmaceutical company
Elan Corporation PLC.

Standard & Poor's placed the new ratings, as well as Elan
Corporation's 'B-' corporate credit and senior unsecured debt
ratings and its 'CCC' senior unsecured convertible note and
subordinated debt ratings, on CreditWatch with positive
implications.  These actions reflect Elan's expected improvement
in liquidity.  Proceeds from the offerings will be used to repay
US$390 million in Elan Pharmaceutical Investments III Ltd.
(EPIL III) notes due in March 2005 as well as increase Elan
Corp.'s on-hand cash.  As of Sept. 30, 2004, Elan had US$680
million of cash on hand.

The next significant debt maturity is not until 2008.  "An
improved liquidity position is critical, given that Elan's
operations are expected to be cash flow negative for the next
couple of years and the company plans to launch and support its
promising multiple sclerosis treatment Antegren in early 2005,"
said Standard & Poor's credit analyst Arthur Wong.

"Antegren holds high sales potential and may return Elan to
profitability and allow it to generate positive cash flows in
the next three years."

Upon completion of the proposed offerings, Standard & Poor's
will raise the corporate credit, senior unsecured debt, and
subordinated debt rating on EPIL III ratings to 'B' and raise
the senior unsecured debt rating on the US$460 million
convertible notes to 'CCC+'.  A positive outlook will then be
assigned.

Complete ratings information is available to subscribers of
RatingsDirect, Standard & Poor's Web-based credit analysis
system, at http://www.ratingsdirect.com. All ratings affected
by this rating action can be found at
http://www.standardandpoors.com.


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


APRILIA SPA: Banks Okay Piaggio Takeover
----------------------------------------
Piaggio's takeover of troubled motorcycle company Aprilia is
nearing its completion, after creditor banks accepted its offer,
Il Sole 24 Ore says.

The banks, which include Banca Intesa, Sanpaolo IMI, UniCredit,
Banca Nazionale del Lavoro and Banca Antonveneta, also gave
their nod to Piaggio's recovery plan for Aprilia.  The plan
entails a capital increase of around EUR50 million, which
Piaggio promised to guarantee, and the conversion of Aprilia's
EUR105 million debts into Piaggio securities.  Aprilia has a
total debt of around EUR350 million, EUR220 million of which are
owed to the banks.

CONTACT:  APRILIA S.p.A.
          Web site: http://www.aprilia.com/

          PIAGGIO S.p.A.
          23, Viale Rinaldo Piaggio
          56025 Pontedera, Pisa, Italy
          Phone: +39-587-27-21-11
          Fax: +39-587-27-22-74
          Web site: http://www.piaggio.com


BANCA INTESA: Individual Rating Affirmed at 'B/C'
-------------------------------------------------
Fitch Ratings affirmed Italy-based Banca Intesa's ratings at
Long-term 'A+', Short-term 'F1', Individual 'B/C' and Support
'2'. The Outlook remains Stable.

The Long-term, Short-term and Individual ratings reflect
management's successful implementation of a wide-ranging
restructuring plan, as well as the bank's large stock of
impaired loans.

Management has applied effectively a three-year restructuring
plan started in 2002, designed to raise profitability,
streamline and modernize the bank's operations, strengthen
capital, upgrade controls and improve credit risk.  For first
half 2004, Banca Intesa reported operating profit higher than a
year ago, on the back of stronger income and lower costs.

Fitch considers that the trend of better profitability is likely
to continue as the bank benefits from tighter organization,
tougher credit controls and sharper marketing.  Market risk is
limited, with both the bank's value-at-risk and exposure in
credit derivatives shrinking.  Banca Intesa has almost
completely withdrawn from Latin America, where it had a sizeable
presence. Meanwhile, its presence in central Europe is
profitable and growing.

Asset quality remains the bank's Achilles' heel.  At end-June
2004, B Intesa reported EUR8 billion of net doubtful and
watchlist loans, representing about half its equity, a worse
proportion than international peers'.  Improved loan loss
reserve cover has helped reduce this legacy of net doubtful
loans and sophisticated internal credit controls should restrict
doubtful loan inflows.  A planned sale of doubtful loans should
further reduce the stock.

Management has done much to strengthen capital adequacy, retain
earnings, reduce exposures to marginally profitable
international corporates and dispose of activities no longer
deemed core.  However, the stock of impaired loans weighs on the
bank's otherwise reassuring Tier 1 ratio of 8.3% reported at
end-June 2004.

CONTACT:  FITCH RATINGS
          Matthew Taylor, London
          Phone: +44 207 417 4345

          Maria Jose Lockerbie
          Phone: +44 207 417 4318

          Media Relations:
          Campbell McIlroy, London
          Phone: +44 20 7417 4327


BARILLA: Increasing Efficiency, Cutting Cost to Contain Slump
-------------------------------------------------------------
Italian pasta and baked goods group Barilla is reorganizing its
operations in response to price pressures at the market, Il Sore
24 Ore reports.

The company recently presented to trade unions a three-year
business strategy that includes plans to increase efficiency and
cut cost.

Under the program, Barilla will close down pasta factory in the
southern Italian city of Matera and a mill in Termoli, on the
southern Adriatic coast.  This will enable it to concentrate on
special pasta production in Caserta, near Naples, and Foggia,
near Bari.  It will also build a new mill near its headquarters
in Parma.

Barilla also plans to invest EUR162 million (US$206.5 million)
in a cost cutting drive that will include early retirement or
reassignment of 229 employees, according to Reuters.

Head of pasta division Nicola Ghelfi said demand for pasta
products is weak.  There is a decline in sales through
traditional supermarket and grocer channels, while sales through
hard discount stores had increased by 25% putting pressure on
prices.

Ms. Ghelfi said Barilla "is going fine for now but we're worried
about the years to come".

The group expects sales volumes to increase by 3.5% in 2004,
chief executive Gianluca Bolla said, while sales value will
increase less.

Trade unions declared an 8-hour strike and suspended overtime
work after the announcement.


CIT SPA: Regulator Places Firm Under Surveillance
-------------------------------------------------
Stock market regulator Consob has put ailing travel group
Compagnia Italiana Turismo (CIT) under surveillance, Il Sole 24
Ore says.

Consob's decision was based on the refusal of auditors Ernst &
Young to certify CIT's accounts.  The auditors are asking the
group to furnish more information trading its accounts.
Troubled Company reporter Europe, on October 28, said Ernst &
Young declined to give an opinion on CIT's first-half results
due to doubts on the company's financial prospects.  Ernst &
Young is also disputing CIT's first-half balance sheet that
includes a capital gain of EUR2.2 million from an unfinished
transaction.  Consob's action would force the tour operator to
report monthly its financial figures until it the regulator
decides to revoke the measure.

Meanwhile, the group shareholder has approved a EUR38.3 million
rights issue, which would be used to finance its rescue plan.
CIT's rescue plan entails creation of a new company that would
absorb its profitable tourism operations.  French hotels group
Accor, which holds a 10% stake in CIT, is expected to underwrite
a part of the rights issue.  Other shareholders have yet to
confirm their participation in the rights issue.

CONTACT:  COMPAGNIA ITALIANA TURISMO S.p.A.
          Via A. Saffi, 12 - Milano
          C.C.I.A.A. di Milano
          Web site: http://www.citspa.it


PARMALAT AUSTRALIA: Warwick Staff Choose Redundancy
---------------------------------------------------
Majority of Parmalat Australia's employees at Warwick in
southern Queensland have refused to accept an offer to relocate
to Brisbane.

The Australian Workers Union's Dudley Watson says people have
opted to take the redundancy package under a plan to close the
dairy plant.  The factory is not operating on a skeleton staff
of 14.

"Two out of 42 accepted redeployment.  The others have opted for
redundancy and that's about 95% have opted for redundancy and
the choice to either not to look for work or seek other
employment," Mr. Watson said.

Parmalat Australia is closing the cheese and butter factory in
six months to end its loss-making operation.

Parmalat Australia is operated by Italian dairy group Parmalat
Finanziaria, which collapsed in December following the discovery
of massive fraud involving subsidiaries worldwide.


PARMALAT FINANZIARIA: Claims Rejection Without Basis, Says Bank
---------------------------------------------------------------
Citigroup Inc. announced it has filed with the Court of Parma's
Bankruptcy Division a detailed response refuting the basis for
the Parmalat Extraordinary Commissioner's proposed rejection of
Citigroup claims.

Citigroup is releasing a summary of its response, believing that
the well-publicized but factually baseless allegations that
accompanied the Extraordinary Administrator's rejection of its
claims and those of the securitization companies Eureka and
Archimede compelled Citigroup to demonstrate that the
Extraordinary Commissioner's view of Citigroup's complicity in
the Parmalat fraud is unfounded and completely false.

Citigroup's filing shows that the Extraordinary Commissioner has
presented no credible evidence that substantiates his
allegations of wrongdoing -- nor could he.  The accounting
investigation conducted by Ms. Stefania Chiaruttini, on which
the Extraordinary Commissioner's allegations appear to be based,
is flawed and misleading.

William J. Mills, CEO of Citigroup's Global Corporate and
Investment Banking Group for Europe, Middle East and Africa,
commented: "We are pleased to present the facts in response to
the baseless allegations against us and to reiterate that
Citigroup did nothing wrong and is itself a major victim of the
Parmalat fraud.  Citigroup will defend itself vigorously against
unwarranted attacks, and will pursue all opportunities for fair
redress of its losses."

The Parmalat Extraordinary Commissioner's decision to reject
Citigroup's claims is expressly based on allegations made in a
lawsuit he filed last July in the U.S. state of New Jersey.
That suit alleges without any legitimate factual support that
Citigroup knew about Parmalat's conduct and precarious financial
position and helped Parmalat conceal the truth from the
investing public.  The basis for this allegation as set forth in
the lawsuit makes plain that the Extraordinary Commissioner has
relied on a collection of fundamental misrepresentations,
misunderstandings and factual errors, as highlighted in the
attached summary submitted as part of Saturday's filing with the
Court of Parma.

Archimede/Eureka securitization

The allegation that Citigroup was aware of a fraudulent
manipulation of Parmalat's invoicing structure and therefore
complicit in Parmalat's fraud is nonsense.  There is no credible
evidence and, not surprisingly, none is offered by the
Extraordinary Commissioner to show that Citigroup knew Parmalat
was using and manipulating this invoicing structure to double-
count sales and generate additional financing from various
financial institutions.  Furthermore, at no stage were the
receivables purchased from Parmalat by Archimede sold on to
investors.  In fact it is Citigroup -- not investors in Eureka
-- that has sustained these losses from fraudulent invoicing at
Parmalat.

Buconero/Geslat transaction

The Buconero/Geslat transaction was not, as is maintained, a
disguised loan.  To the contrary, the transaction was disclosed
in Geslat's accounts and the structure was fully compliant with
the requirements of Italian law.  Similar structures have been
used by other leading Italian companies to obtain low cost
financing.

Parmalat Canada

Citigroup took a shareholding in Parmalat Canada with a right to
sell its shares to Parmalat at pre-determined prices.  The
allegation that this was a disguised loan is flat wrong.
Nothing about this transaction was disguised -- both Citigroup
and Parmalat disclosed that Citigroup could sell its shares
under certain conditions.

Zini accounts

Finally, the Extraordinary Commissioner's allegation that
Citigroup should have known that accounts opened by Mr. Gian
Paolo Zini (Parmalat's counsel) were used for irregular
transactions is pure makeweight.  Mr. Zini was a reputable
lawyer at the time and there was nothing about the operation of
his accounts that suggested he was using them for unlawful
purposes.

CONTACT:  CITIGROUP INC.
          Press
          Daniel Noonan
          Phone: +44-207-986-5608
          or

          Christina Pretto
          Phone: +1-212-816-8572
          or

          Investors
          Art Tildesley
          Phone: +1-212-559-2718
          or

          Fixed Income Investors
          John Randel
          Phone: +1-212-559-5091


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


ASM INTERNATIONAL: Third-quarter Net Earnings Return to Black
-------------------------------------------------------------
2004 Third-quarter operating results Highlights:

(a) Third quarter net sales in the Front-end segment slightly
    higher than in the second quarter; Book-to-bill ratio
    exceeded 1;

(b) Third quarter net sales and bookings in the Back-end segment
    lower than in the second quarter due to the earlier
    announced slow-down in the Assembly & Packaging industry;

(c) Third quarter consolidated net sales of EUR183.8 million, up
    24.7% from the third quarter of 2003 and down 13.3% from net
    sales of the previous quarter;

(d) Third quarter net earnings of EUR3.7 million or 0.07 diluted
    net earnings per share compared to a net loss of EUR9.7
    million or (0.20) diluted net loss per share for the third
    quarter of 2003 and net earnings of EUR4.4 million or 0.08
    diluted net earnings per share for the second quarter of
    2004;

(e) Third quarter bookings of EUR157.1 million, an increase of
    20.1% compared to EUR130.8 million in the third quarter of
    2003 and a decrease of 32.3% compared to EUR232.1 million in
    the second quarter of 2004; Third quarter book-to-bill ratio
    of 0.86;

(f) Nine months bookings of EUR614.9 million, an increase of
    56.7% compared to EUR392.5 million for the nine months in
    2003; and

(g) Quarter-end backlog of EUR222.3 million, down 10.7% from the
    previous quarter.

Full copy of the results is available free of charge at
http://bankrupt.com/misc/ASM_3Q2004.pdf.

                            *   *   *

In August, Standard & Poor's Ratings Services revised its
outlook on ASM International N.V. to stable from negative,
following steady improvements in the company's 100%-owned front-
end operations and the strengthening of the company's financial
profile.

At the same time, Standard & Poor's affirmed its ratings on the
company, including its 'B+' long-term corporate credit ratings
and all related debt ratings.

The company had sales of EUR719 million (US$875 million) and
EBITDA of EUR73 million in the 12 months to June 30, 2004.  At
June 30, 2004, ASM had total debt of EUR210 million, and net
debt of EUR38 million.

CONTACT:  ASM INTERNATIONAL N.V.
          Jan van Eycklaan 10
          3723 BC Bilthoven
          Phone: +31-30-229-84-11
          Fax: +31-30-228-74-69
          Web site: http://www.asm.com

          Robert L. de Bakker
          Phone: +31 30 229 8540

          Mary Jo Dieckhaus
          Phone: +1 212 986 2900


GETRONICS N.V.: Expects Full-year Results to be Positive
--------------------------------------------------------
CEO Klaas Wagenaar said: "Getronics N.V. is succeeding in
maintaining its market position with over 90% renewal rates and
consistently high client satisfaction in an intensely
competitive market.  The Company has been able to close
prestigious new business in most geographies.  As part of the
Company's continuing transformation and development a special
cost leadership program has been introduced and further progress
has been made with reducing the structural cost base."

(a) Net result of EUR3 million in Q3 2004 (Q3 2003: -EUR20
    million), resulting in -EUR9 million year to date.  Net
    result for full year 2004 expected to be positive;

(b) EBITA increased to EUR7million in Q3 2004, representing 1.3%
    of revenue (Q3 2003: EUR1 million, representing 0.0% of
    revenue);

(c) Service gross margin[*] increased to 19.5% in Q3 2004
    compared to 19.0% in Q3 2003. Service gross margin* year to
    date is 19.4% (17.9% in Q3 2003);

(d) Selling, general and administrative expenses[*] declined 12%
    in Q3 2004 to EUR88 million (EUR100 million in Q3 2003);

(e) The Company has increased its investment in initiatives and
    activities that will fuel and support business growth,
    including its recently launched solutions portfolio;

(f) Outlook Q4 and 2004: The Company expects to achieve further
    improvements in operational performance in Q4 2004 and
    continues to make progress towards its medium term EBITA
    targets.  2004 Earnings per Share[#] (EPS) are expected to
    show an improvement over 2003 (2003: EUR0.05), taking into
    account the placement of 100 million new shares in early
    2004.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
[*] Excluding exceptional operating items
[#] Before amortization of goodwill, exceptional items and
    results from divested operations and participations
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

CEO's Comment

Says Klaas Wagenaar, CEO of Getronics said: "Market conditions
remained mixed and Europe continued to lag the gentle market
recovery seen in other geographies, and this had a consequent
impact on service revenue growth within the Company.

Getronics is making good progress in executing its strategy of
defending and extending its market share through cost
leadership, high customer satisfaction, innovative service
delivery, and by adding value added services around our core
business of Network and Desktop Outsourcing Services (NDOS).

The Company has increased its investment in initiatives and
activities that will fuel and support business growth, including
its recently launched solutions portfolio, and accelerated the
adoption of its innovative and consistent service delivery
model.  Sales performance started to accelerate in Q3, as
evidenced by an increase in our conversion rate and a growing
qualified pipeline.  Our focus is on profitable growth, cash
generation and cost leadership. "

Outlook 2004

The Company expects to make further progress towards its medium
term EBITA targets.  2004 Earnings per Share[#] (EPS) are
expected to show a modest improvement over 2003 (2003: EUR0.05),
taking into account the placement of 100 million new shares in
early 2004.

Getronics believes that the global ICT market will remain highly
competitive, leading to continuing pricing pressure.  The
Company expects that the weak economic factors in Europe (circa
70% of Getronics service revenue) and the strengthening of the
Euro will continue to impact the level of our clients ICT
budgets.  The Company will, therefore, continue its focus on
achieving cost leadership, strengthening its market positioning
by leveraging the service offering portfolio, rationalizing
existing services and/or business units and improving
operational effectiveness.

The Company will continue to make further investments in Q4 2004
and 2005 to accelerate the adoption of its service-offering
portfolio, the implementation of its innovative and consistent
service delivery model, and the continuation of its Cost
Leadership Program.  This additional investment will help the
Company make further progress towards its EBITA target of 5%.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
[#] Before amortization of goodwill, exceptional items and
results from divested operations and participations
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Management Overview

Market conditions remained mixed during Q3 2004 with differing
consequences for service revenue growth within the Company.
There were signs of a strengthening market in North America and
the Rest of the World outside of Europe, but Europe,
representing 70% of revenue, continued to lag the gentle market
recovery seen in most other geographies.

During Q3 2004 a number of significant new wins were awarded,
and in some cases the start of the migration of services has
commenced, however, significant revenue from these new contracts
are not expected until 2005.  Getronics continues to see
increased interest and opportunities in NDOS services, the
Company's core offering.

Signs of increased investment by the finance vertical were seen
outside of Europe.  Government and public bodies remained
consistent users of the Company's services, and increased
activity was seen in the retail, and telecom sectors.  The
industry sector was particularly active and continues to
represent opportunities for growth.

Getronics continues to make progress executing its clearly
articulated four-point strategy:

(a) establish the Company as 'best in class' for its portfolio
    of market-relevant solutions and services and strengthen its
    delivery capability across all major geographies;

(b) build and capitalize on its key international clients,
    building the volume and range of business with them;

(c) increase the depth of collaboration with its three strategic
    alliances, Cisco, Dell and Microsoft, to the benefit of
    clients;

(d) optimize its own standardized systems and processes, to
    drive customer satisfaction and productivity.

The Company has continued to invest in its ability to deliver
its market relevant portfolio of solutions and services across
its major geographies.  The portfolio presents a broader and
more coherent range of higher value services to clients
alongside the core Network and Desktop Outsourcing Business.

The Company is making progress in building the volume and range
of business undertaken with key international customers.  The
Company has strengthened and invested in its International
Business Support Team to help fuel and support business growth
with key customers and international opportunities, through
improving the quality of bids and the win rate.  The Company has
also invested in the creation of an International Finance
Practice to help leverage its position and increase market share
in emerging markets (e.g. Italy, Spain, Latin America, Asia
Pacific and Japan) in this key vertical.

Getronics' three strategic alliance partners, Cisco, Dell and
Microsoft, are leaders in the network and desktop markets,
constantly introducing new advanced technology.  They have
excellent brand recognition, and are leaders in most markets.
Cooperation and business with and through our three strategic
alliance partners continues to develop well.

Getronics has introduced a special Cost Leadership Program to
defend and extend its market-share through cost-leadership in
its core business of Network and Desktop Outsourcing Services
(NDOS).  Key aspects of this program are:

(a) productivity improvements in local on-site services and
    international remote services,

(b) benchmarking and right sizing the ratio between direct and
    indirect costs, thus lowering overhead costs,

(c) optimization of internal and business processes,

(d) rationalization of non-core service offerings and/or
    business units.

The Company has accelerated its investment in innovative service
delivery and increased its capacity to support remote service
delivery.  Getronics serviced its first client from its
Hungarian Global Service Centre (GSC) in October and expects the
number of clients to grow during Q4 and onwards.  The Hungarian
centre replicates the GSC in Mexico.  The Getronics Global
Service Centres provide a full range of network and desktop
outsourcing services, in combination with local on-site
operation.

A full copy of the financial results is available free of charge
at: http://bankrupt.com/misc/Getronics_3Q2004.pdf

CONTACT:  GETRONICS N.V.
          Investor Relations
          Phone: +31 20 586 1581
          Fax:   +31 20 586 1455
          E-mail: investor.relations@getronics.com


GETRONICS N.V.: Sells Non-core Activity in Benelux
--------------------------------------------------
Getronics N.V. has decided to dispose of its non-core Industrial
Automation activities in the Benelux as part of a periodic
review of its core business and in the light of its recently
adopted portfolio of solutions and services.

Oswald Coene, currently Member of the Board of Management and
General Manager of Getronics Netherlands, is to lead a
management buy-out of these 80% hardware activities and he will
leave the Company to pursue his entrepreneurial ambition to run
his own business.  A formal letter of intent has been signed
between the parties and talks are under way with the workers
council and trade unions.

The Industrial Automation unit has a leading position in
industrial electronics, industrial automation, and building
automation and data center solutions in the Benelux and is
expected to realize circa EUR70 million revenue in 2004 with 180
employees.  It has offices in Amsterdam, Delft and Brussels.
Its focus is on the supply of a portfolio of specialized
products from strong technology partners, system integration and
related services.

Together with key management from the Industrial Automation
unit, it is the intention of Oswald Coene to create and build a
leading company in the Benelux for Industrial Automation.  The
new Company and Getronics will be preferred suppliers to each
other.

Oswald Coene will remain a Member of the Board of Management and
General Manager of Getronics Netherlands until April 2005 to
ensure the smooth transition to the new combination of Getronics
and PinkRoccade in the Netherlands.  Oswald Coene will be a key
member of the Netherlands Integration Committee chaired by
Chairman and CEO, Klaas Wagenaar.

Klaas Wagenaar: "Getronics owes much to Oswald for his
contribution to the Company over 14 years.  Since joining the
Company in 2003 I have personally witnessed his enormous effort
and support behind our strategy to develop and grow Getronics.
We wish him well in his new company."

About Getronics

With approximately 22,000 employees in over 30 countries and
ongoing revenues of EUR2.4 billion, Getronics is one of the
world's leading providers of vendor independent Information and
Communication Technology (ICT) solutions and services.

Getronics today combines the capabilities of the original Dutch
company with those of Wang Global, acquired in 1999, and of the
systems and services division of Olivetti.  Getronics designs,
integrates and manages ICT infrastructures and business
solutions for many of the world's largest global and local
companies and organizations, helping them maximize the value of
their information technology investments.  Getronics'
headquarters are in Amsterdam, with regional offices in Boston,
Madrid and Singapore.  Getronics' shares are traded on Euronext
Amsterdam (GTN).  For further information about Getronics, visit
http://www.getronics.com.

CONTACT:  GETRONICS N.V.
          Press enquiries
          Phone: +31 20 586 1581
          Fax: +31 20 586 1455
          E-mail: media@getronics.com

          Investor enquiries
          Phone: +31 20 586 1964
          Fax: +31 20 586 1455
          E-mail: investor.relations@getronics.com


GETRONICS N.V.: To Offer ICT Services Globally with PinkRoccade
---------------------------------------------------------------
(a) Recommended intended public offer by Getronics for all of
    the outstanding shares of PinkRoccade, listed on Euronext
    Amsterdam;

(b) Intended Offer will consist of an exchange offer of 6
    Getronics shares and EUR4.10 in cash per ordinary
    PinkRoccade share, valuing the outstanding share capital of
    PinkRoccade at EUR338 million, representing a premium of 35%
    over the closing price of PinkRoccade on 29 October 2004;

(c) Combination will have a leading presence in the ICT services
    markets in the Benelux, the United Kingdom, Spain and Italy,
    complemented by its key presence in the U.S. and relevant
    presence in other continents with annual revenues in excess
    of EUR3 billion and a combined workforce of more than 29,000
    staff operating in 30 countries;

(d) Synergy potential has been identified, including a more
    compelling proposition for clients, valuable cross selling
    opportunities, and annualized cost savings amounting to
    EUR35 to 40 million.  It is expected that half of these
    savings will contribute to the consolidated operating income
    in 2005.  One-off costs of realizing savings estimated at
    EUR35 to 45 million are likely be incurred in the first year
    of the combination;

(e) The combination will support reaching the target of 5%
    EBITAE margin in 2005 and is expected to be slightly
    accretive to earnings per share (EPS) in 2005;

(f) Management Board of the combination will be chaired by Klaas
    Wagenaar, existing Chairman and CEO of Getronics.  Aart
    Klompe will be proposed for election to the Management Board
    of the combination;

(g) Supervisory Board of the combination will be chaired by
    Marinus Minderhoud, existing Chairman of the Supervisory
    Board of Getronics.  Henk Bosma, currently CEO of
    PinkRoccade, will be proposed to be appointed a member of
    the Supervisory Board of the combination.  All present
    members of the PinkRoccade Supervisory Board will be invited
    for appointment as member to the Supervisory Board of the
    combination;

(h) Peter van den Heuvel will join the Management Board of the
    Dutch operations;

(i) It is envisaged that the integration of management teams of
    the combination in the Netherlands and the U.K. will result
    in equal representation of Getronics and PinkRoccade;

(j) Parties will take further steps, including confirmatory due
    diligence, in the coming weeks to reach definitive agreement
    on the intended public offer.  Following definitive
    agreement being reached, the offer is expected to be made in
    December 2004/January 2005.  Closing of the proposed offer
    is expected for 2005 Q1;

(k) The Netherlands Authority for the Financial Markets
    (Autoriteit Financiele Markten), Euronext Amsterdam N.V.,
    the Social Economic Council (Sociaal Economische Raad), and
    the relevant trade unions have been informed of the intended
    offer.  The respective Central Works Councils have been
    asked for their advice.

Getronics N.V. and PinkRoccade N.V. jointly announce that the
expectation is justified that agreement can be reached on a
combination of their businesses resulting in the creation of a
leading international ICT Services Company.  The envisaged
transaction would be structured as a recommended public offer by
Getronics for all of the outstanding shares of PinkRoccade,
listed on Euronext Amsterdam.  The intended offer will consist
of an exchange offer of 6 Getronics shares and EUR4.10 in cash
per ordinary PinkRoccade share.  The combination will have a
leading presence in the ICT services markets in the Benelux, the
United Kingdom, Spain and Italy, complemented by its key
presence in the U.S. and relevant presence in other continents.
The combination will have annual revenues in excess of EUR3
billion and a combined workforce of more than 29,000 staff
operating in 30 countries.

Business Rationale

Getronics' primary strategy is to establish a strong and
balanced presence in all of the major ICT spending markets of
Continental Europe, having an important position in the leading
U.K. and U.S. markets complemented by a relevant presence in
other key markets and continents.  This international presence
enables Getronics to provide comprehensive ICT support services,
including outsourcing, for its international client base.
PinkRoccade's strategy to become National Champion will be
realized more quickly and will build on the present quality of
its products and solutions offerings.  The combination creates
an organization in Europe with an enhanced solutions offering
and a leading presence in the ICT services markets in the
Benelux and the United Kingdom, coupled with the existing strong
positions in Spain and Italy and the relevant presence in
Central and Eastern Europe, complemented by its key presence in
the U.S.

Highlights of the results of the combination of Getronics and
PinkRoccade include:

(a) Creating an international organization with an end-to-end
    solutions offering and annual revenues in excess of EUR 3
    billion;

(b) A combined workforce of more than 29,000 staff operating in
    30 countries;

(c) The combination will be in a better position to compete for
    international outsourcing deals;

(d) Number 1 overall market position in the Netherlands, with
    reinforced presence across verticals, in particular the
    public sector, finance, and industry, both in infrastructure
    (data centre) and applications management;

(e) Increased market presence in the U.K. and footholds in most
    of the European ICT markets; the combination will have a
   leading market position in Europe;

(f) A strengthened solutions portfolio available to an extended
    client base with limited overlap across all verticals,
    offering valuable opportunities for cross-selling;

(g) Improved financial position, through a stronger recurring
    revenue base in excess of 60% of total revenues, and further
    margin potential from enhanced solutions portfolio and cost
    savings.

    Combination Offers Compelling Proposition to Stakeholders

Clients

For clients the combination offers a compelling broader
solutions offering portfolio and international coverage with a
stronger and solid ICT partner.  Clients will continue to
benefit from the high quality of solutions and services and
obtain increased efficiency from the larger scale and
complementary strengths of the combination:

(a) Network and desktop management,

(b) Application integration and management,

(c) Data center and outsourcing services

Shareholders

Shareholders stand to benefit from the growth and leadership
opportunity the combination provides within the attractive
managed ICT solutions & services sector.  The combination offers
improved and sustained earnings.  In addition, the combination
will have a larger market capitalization with more liquidity of
its shares.

Employees and Management

Employees and management will benefit from the long-term
continuity and the broader career opportunities that the
combination provides.

Alliance Partners

Alliance partners will have access to a larger volume and range
of business from a leading supplier of managed services.

Synergies

The combination will provide a more compelling proposition for
clients with a strengthened portfolio of relevant solutions,
such as Network and Desktop Outsourcing Services, application
management & services and data center and outsourcing services,
built upon the complementary nature of Getronics' and
PinkRoccade's solutions offering.  The solutions portfolio of
the combination will be available to its extended, client base
-- which is complementary and has limited overlap -- and offers
valuable opportunities for cross-selling.

Getronics and PinkRoccade have identified and evaluated a number
of areas for potential cost synergies amounting to EUR35 to 40
million per annum.  It is expected that half of these synergies
will contribute to the consolidated operating income in 2005 and
that the benefits will be achieved in full in the second year of
the combination.  The cost savings are expected to result from:

(a) Alignment of the combination's solutions portfolio and
    productivity gains in the Netherlands and the U.K.;

(b) Headcount reduction representing approximately 4% of the
    combination's headcount in the Netherlands and the U.K.,
    including elimination of duplicate overhead and head office
    costs;

(c) Scale effect of data centre and procurement.

The one-off costs of realizing these cost savings are estimated
at EUR35 to 45 million and are likely to be incurred in the
first year of the combination.

Governance

The Management Boards and Supervisory Boards of PinkRoccade and
Getronics fully support and will recommend the intended offer to
their respective shareholders.

The Management Board of the combination will be chaired by Klaas
Wagenaar, CEO of Getronics.  Aart Klompe will join the
Management Board of the combination.  The Supervisory Board of
the combination will be chaired by Rinus Minderhoud.  Henk
Bosma, currently CEO of PinkRoccade, will be proposed to be
appointed a member of the Supervisory Board of Getronics upon
consummation of the transaction.  All present members of the
PinkRoccade Supervisory Board will be invited for appointment as
members of the Supervisory Board of the combination.  Peter van
den Heuvel will join the Management Board of the Dutch
operations.  It is envisaged that the integration of management
teams of the combination in the Netherlands and the U.K. will
result in equal representation of Getronics and PinkRoccade.

A project-team responsible for a swift and smooth integration of
the two businesses will be created consisting of senior
management of both PinkRoccade and Getronics, chaired by the CEO
of Getronics and supported by Henk Bosma.

CEO Comments

Klaas Wagenaar, CEO of Getronics comments: "The acquisition of
PinkRoccade provides Getronics with an enhancement of its
solutions offering and a strengthening of key market positions
in the Netherlands and the United Kingdom, where we are doubling
our presence.  This provides critical mass, which is essential
in offering our clients effective support and gives us the
capacity and flexibility in continuing to win major new clients.

"Large customers are increasingly seeking international
providers that offer quality ICT solutions and services at low
costs.  Such ICT companies must therefore have scale,
international reach and a distinct market proposition.
PinkRoccade and Getronics are leading companies in their home
markets and aspire to defend and extend their market positions.
The combination of PinkRoccade and Getronics position both
companies to fulfill their ambitions whilst creating shareholder
value.  We are pleased and proud to welcome the PinkRoccade
staff.  PinkRoccade is widely recognized for its competence and
innovative use of technology, which will be of enormous value to
our expanded client base, not least in the public sector."

Henk Bosma, CEO of PinkRoccade comments: "Getronics offers us
the opportunity to accelerate our aim to become the Dutch
national champion and on top of this we will get access to the
international network, client base, strategic alliances and the
global Network and Desktop Outsourcing Services position of
Getronics.  We are very pleased to contribute our strengths in
amongst others application services and data center competence.

"As a result the combination will be able to provide a more
compelling value proposition to our customers.  The
international network of Getronics, combining both companies'
activities in the Netherlands and U.K., and the combined strong
recurring revenue base, will allow PinkRoccade, contrary to
other alternatives which have been proposed, to accelerate its
long-term strategic goals compared to a stand-alone situation."

Financial Terms of the Proposed Offer

The envisaged transaction is intended to be concluded through a
recommended public offer by Getronics for all of the outstanding
ordinary shares of PinkRoccade.  The offer will consist of a
combination of newly issued Getronics shares and a cash amount
for each ordinary share PinkRoccade, as:

(a) An exchange of 6 newly issued Getronics ordinary shares, and

(b) EUR4.10 in cash, per PinkRoccade ordinary share.

Based on the closing share price of Getronics on Friday 29
October, 2004 on Euronext Amsterdam, the offer values each
ordinary share of PinkRoccade at EUR13.82, representing a
premium of 47% over the average closing price of PinkRoccade on
Euronext Amsterdam over the last three months.

The intended offer values 100% of the outstanding share capital
of PinkRoccade at EUR338 million.

Application will be made for listing of the ordinary shares in
Getronics offered to PinkRoccade shareholders as part of the
offer on Euronext Amsterdam and these shares will rank pari
passu with the existing Getronics ordinary shares.  Getronics'
intention is to seek to acquire 100% control of PinkRoccade by
way of the offer and a subsequent legal merger.  This legal
merger would be pursued after settlement of the offer or
alternatively a post-settlement squeeze out could be followed.
The Company will seek a de-listing of PinkRoccade shares from
Euronext as soon as practically possible.

In order to fund the cash element of the intended offer and to
continue to be able to grow the business, including through
acquisitions, Getronics has obtained commitments from its banks
to increase its existing credit facilities for acquisitions,
working capital, and general purposes with EUR125 million.

The actual making of the intended public offer is subject to,
inter alia, reaching definitive agreement on the intended offer,
final confirmatory due diligence, obtaining advice from
PinkRoccade and Getronics' respective Central Works Councils,
relevant consents and regulatory approvals, including from the
Dutch competition authorities, agreeing final financing
documentation, and other, customary conditions.

The honoring of the intended offer, when made, will be subject
to an 80% acceptance level, and other, customary conditions.

During the offer period, extraordinary general meetings of
shareholders of PinkRoccade and Getronics will be held.

Indicative Timetable

Parties will take further steps, including confirmatory due
diligence, in the coming weeks to reach definitive agreement on
the intended public offer.

December/January               Start of offer period
                                and publication of offer
                                document

January                     Extraordinary General Meetings
                                of shareholders of Getronics and
                                PinkRoccade

2005 Q1                Closing of the proposed offer

The Netherlands Authority for the Financial Markets (Autoriteit
Financiele Markten), Euronext Amsterdam N.V., and the Social
Economic Council (Sociaal Economische Raad) have been informed
of the intended offer. The respective Works Councils have been
asked for their advice.

Getronics has engaged NIBCapital as its financial advisor and
listing agent and Greenberg Traurig as its legal advisor.
PinkRoccade has engaged ABN AMRO Bank as its financial advisor
and Allen & Overy as its legal advisor.

This announcement is a public announcement as meant within
Section 9b, paragraph 2 under a of the Dutch Securities
Supervision Decree (Besluit toezicht effectenverkeer 1995).

About Getronics

With approximately 22,000 employees in over 30 countries and
ongoing revenues of EUR2.4 billion, Getronics is one of the
world's leading providers of vendor independent Information and
Communication Technology (ICT) solutions and services.
Getronics today combines the capabilities of the original Dutch
company with those of Wang Global, acquired in 1999, and of the
systems and services division of Olivetti.  Getronics designs,
integrates and manages ICT infrastructures and business
solutions for many of the world's largest global and local
companies and organizations, helping them maximize the value of
their information technology investments.  Getronics'
headquarters are in Amsterdam, with regional offices in Boston,
Madrid and Singapore.  Getronics' shares are traded on Euronext
Amsterdam.  For further information about Getronics, visit
http://www.getronics.com

About PinkRoccade

With 7,100 staff (September 2004), and EUR0.7 billion in
revenues (2003) PinkRoccade is one of the largest ICT service
providers in the Netherlands.  PinkRoccade enhances its clients'
business processes with intelligent and efficient ICT technology
applications at a strategic, operational and administrative
level, thereby enabling its clients to concentrate on their core
activities.  Organizations that work with information-intensive
processes, such as the public sector, financial service
providers, industry and care providers, will find in PinkRoccade
an experienced and reliable partner.  PinkRoccade shares are
traded on Euronext Amsterdam (PINK).  For further information
about Getronics, visit http://www.pinkroccade.com

                            *   *   *

This is a joint press release of Getronics N.V. and PinkRoccade
NV.  Not for release, publication or distribution, in whole or
in part, in or into the United States, Canada, Australia or
Japan.  This announcement and related materials do not
constitute an offer for ordinary shares in PinkRoccade N.V., but
are an announcement that the expectation is justified that
agreement on an offer may be reached in due course as set out in
this press release.

CONTACT:  GETRONICS N.V.
          Media Relations
          Phone: +31 20 586 1581
          Fax: +31 20 586 1455
          E-mail: media@getronics.com

          Investor Relations
          Phone: +31 20 586 1964
          Fax: +31 20 586 1455
          E-mail: investor.relations@getronics.com

          PINKROCCADE
          Media Relations
          Phone: + 31 79 347 1347
          Fax: + 31 79 347 1343

          Investor Relations
          Phone: + 31 79 347 1347
          Fax: + 31 79 347 1343


KONINKLIJKE AHOLD: Cencosud Gets Controlling Interest in Disco
--------------------------------------------------------------
Koninklijke Ahold announced it has partially completed the sale
of its 99.94% controlling interest in Disco S.A. to Chilean
retailer Cencosud S.A. by transferring the ownership of
approximately 85% of the outstanding Disco shares.  The
remaining approximately 15% of the Disco shares will be
transferred to Cencosud as soon as legally possible; currently
these shares are subject to certain Uruguayan court orders
processed and executed in Argentina, that might possibly
prohibit their transfer.

The transaction is subject to approval by the Argentine
antitrust authorities.  The approval process has encountered
delays beyond the control of Ahold and Cencosud due to a local
judicial order preventing the antitrust authorities from
continuing their required review of the transaction.  The
Argentine government as well as Ahold and Cencosud have appealed
to this order.

Ahold and Cencosud completed the transaction based on a total
value, excluding any liabilities, of US$315 million for Ahold's
entire interest in Disco, which is equal to the amount earlier
announced on March 5, 2004.

The purchase amount for the transferred Disco shares has been
put in escrow in case various contingencies were to occur prior
to April 1, 2005.  It is expected that Ahold will receive the
escrowed funds in the first full week of April 2005, unless
either party exercises its right under limited circumstances to
reverse the transaction.  The purchase amount for the remaining
approximately 15% of the Disco shares that currently have not
been transferred also has been put in escrow until such shares
can be transferred to Cencosud.  Ahold has agreed to indemnify
Cencosud for losses incurred if Ahold were to lose legal
ownership to any of those shares.  Pending the transfer of those
shares, Ahold has agreed to exercise its voting rights with
regard to those shares according to Cencosud's instructions and
to pay to Cencosud any dividends received on such shares.

Ahold believes that the transfer of the Disco shares at this
time and in this manner is in the best interests of Disco's
customers and associates, which Ahold believes were being
adversely affected by the delay in the antitrust approval
process and the closing of the transaction.

The divestment of Ahold's activities in Argentina is part of
Ahold's strategy to optimize its portfolio and to strengthen its
financial position.

CONTACT:  KONINKLIJKE AHOLD
          P.O. Box 3050 1500 HB Zaandam Netherlands
          Phone: +31 (0)75 659 57 20
          Fax: +31 (0)75 659 83 02

          Corporate Communications
          Phone: +31.75.659.5720


NEW SKIES: U.S. Regulator Okays Sale to Blackstone Affiliate
------------------------------------------------------------
New Skies Satellites N.V. announced that the U.S. Federal
Communications Commission (FCC) has approved its sale to
affiliates of private investment firm The Blackstone Group.

New Skies now expects that the transaction will close on
November 2, 2004.  Assuming the transaction closes on this date,
trading in New Skies' shares on Euronext Amsterdam and American
Depository Shares on the New York Stock Exchange will be
suspended as of the close of trading on November 2, 2004.

Following the closing, the corporate entity that presently holds
the company's assets will go into liquidation and the company's
business and operations will be continued by the acquiring
company, New Skies Satellites B.V. Holders of New Skies'
ordinary shares in book-entry form and holders of American
Depository Shares as of the close of trading on the date of the
closing will be entitled to receive payment of the sale
distributions.

Dan Goldberg, New Skies' chief executive officer, said: "We are
delighted that we successfully completed the FCC approval
process sooner than originally anticipated and are now poised to
close the transaction with Blackstone next week.  We were
pleased with the overwhelming support of our shareholders for
the transaction and are focused on ensuring that the sale
proceeds are distributed as quickly as possible."

New Skies expects to make an initial distribution of the sale
proceeds to its current shareholders within two weeks after the
closing of the transaction.  We anticipate that the initial
distribution will constitute approximately 95% of the sale
proceeds.  Following this initial distribution, shareholders in
New Skies Satellites N.V. will be entitled to a second and final
distribution.  This final distribution will constitute the
remaining sale proceeds and will be made following the
expiration of the statutory two-month opposition period in
connection with the company's liquidation and provided that any
potential opposition has been taken into account.

Further information on the two distributions to shareholders
will be provided when the relevant dates have been determined.

About the Transaction

New Skies signed a definitive agreement for the sale of the
company to affiliates of The Blackstone Group, a leading private
investment firm, for US$956 million in cash, equivalent to
approximately US$7.96 per fully diluted share on June 5, 2004.
Subsequently, New Skies and The Blackstone Group announced
certain regulatory and shareholder approvals necessary for the
completion of the transaction, including:

(a) On July 2, 2004, New Skies and The Blackstone Group received
    early termination of the required waiting period under the
    U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976
    for Blackstone's acquisition of New Skies;

(b) On July 19, 2004, New Skies' shareholders overwhelmingly
    approved the sale of the company, with 92.4% of
    shares in attendance voting for the acquisition;

(c) The Netherlands' Ministry of Economic Affairs formally
    approved the transaction on July 28, 2004; and

(d) The U.S. Federal Communications Commission formally approved
    the transaction on October 27, 2004.

About New Skies Satellites

New Skies Satellites (AEX, NYSE: NSK), is one of only four fixed
satellite communications companies with truly global satellite
coverage, offering video, data, voice and Internet
communications services to a range of telecommunications
carriers, broadcasters, large corporations, Internet service
providers and government entities around the world.  New Skies
has five satellites in orbit and ground facilities around the
world.  The company also has secured certain rights to make use
of additional orbital positions for future growth.  New Skies is
headquartered in The Hague, The Netherlands, and has offices in
Beijing, Hong Kong, New Delhi, Sao Paulo, Singapore, Sydney and
Washington, D.C.

CONTACT:  NEW SKIES SATELLITES N.V.
          Rooseveltplantsoen 4
          2517 KR The Hague
          Phone: +31-70-306-4100
          Fax: +31-70-306-4101
          Web site: http://www.newskies.com

          Jeff Bothwell
          Phone: +31 70 306 4239
                 +31 6 1131 0183
          E-mail: Jbothwell@newskies.com

          Investor Relations:
          Boris Djordjevic
          Phone: +31 70 306 4183
          E-mail: bdjordjevic@newskies.com


VILENZO INTERNATIONAL: Seeks Suspension of Payment
--------------------------------------------------
The management of Euronext Amsterdam has been informed on the
content of a press release issued by Vilenzo International N.V.

From this press release it appears that Vilenzo International
N.V. has been granted suspension of payment.  The management of
Euronext Amsterdam has decided to impose a listing measure on
Vilenzo International N.V. as of Friday October 29, 2004
according to article 65, lid 2 sub a of the Listing and Issuing
Rules (suspension of official listing or penalty bench).

CONTACT:  VILENZO INTERNATIONAL N.V.
          Pieter Calandlaan 101
          1065 KK Amsterdam
          Phone: +31(0)20 346 9999
          Fax: +31(0)20 669 6164
          E-mail: info@vilenzo-amsterdam.nl
          Web site: http://www.vilenzo.nl


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


ABSOLUT BANK: Individual Rating Affirmed at 'B-'
------------------------------------------------
Fitch Ratings affirmed Absolut Bank's ratings at Long-term 'B-',
National Long-term 'BB+(rus)', Short-term 'B', Individual 'D'
and Support '5'.  The Outlook for the Long-term rating remains
Stable.

The Long-term, Short-term and Individual ratings of Absolut
reflect its small size and limited franchise.  They also
consider the risks associated with rapid loan growth,
concentration levels on both sides of the balance sheet, and the
modest level of loan loss reserves (LLR).  However, they take
into account the bank's currently adequate profitability, good
asset quality to date and currently acceptable capitalization.
Market risk is relatively limited and liquidity is well managed.

Absolut's total capital ratio (mainly Tier 1) was a reasonable
20% at end-1H04 compared to 32% in 2002.  However, capital
ratios are expected to continue to fall, reflecting the planned
rapid growth.  Given this, the modest level of LLR and high
concentration levels, Fitch views the mid-term target risk asset
ratio of 14%-15% as moderate.

The rapidly growing loan book is concentrated, notably, on the
potentially cyclical/volatile real estate and construction
sector, although exposure to this sector has declined.
Nevertheless, despite Absolut's modest level of LLR cover, the
bank's asset quality track record has been very good to date.

Performance is currently above average for a Russian bank of
this size.  It is expected to remain so for the foreseeable
future, in light of its geographical and product expansion and
the bank's good efficiency.  However, it is vulnerable to
potential impairment of even a small number of its largest
loans.

With assets of around US$363 million and equity of some USD63
million at end-1H04, Absolut is a medium-sized bank for Russia
(albeit very small in an international context), and among the
top 70 domestic banks.  It is a part of a group of independent
companies owned by its shareholders, who have diversified
interests ranging from importing of household appliances and
consumer electronics, and real estate development.

Numerous real estate development projects in and around Moscow
are currently the main source of revenues for shareholders.
Absolut's main business is lending to customers, with its major
clients including Russian consumer good and manufacturing
companies, Moscow real estate developers, and the group's
enterprises and affiliates from several other sectors.  Although
the bank operates predominantly in Moscow, it plans to open a
branch in St Petersburg and offices in the Moscow region.

CONTACT:  FITCH RATINGS
          Alexei Kechko, Moscow
          Phone: +7095 956 9901

          Lindsey Liddell, London
          Phone: +44 (0)20 7417 3495

          Media Relations:
          Campbell McIlroy, London
          Phone: +44 20 7417 4327


BELOMORIT: Court Prescribes Bankruptcy Supervision Procedure
------------------------------------------------------------
The Arbitration Court of Kareliya republic has commenced
bankruptcy supervision procedure on close joint stock company
Belomorit.  The case is docketed as A26-2265/04-18.  Mr. A.
Pirogov has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to:

(a) Belomorit
    186500, Russia, Kareliya republic,
    Belomorskiy region, Sosnovets, Kirova Str. 2A

(b) Temporary Insolvency Manager
    185007, Russia, Kareliya republic,
    Petrozavodsk, Post User Box 23

(c) The Arbitration Court of Kareliya republic
    185035, Russia, Petrozavodsk,
    Krasnoarmeyskaya Str. 24A


BOLOGOVSKIY MEAT: Under Bankruptcy Supervision
----------------------------------------------
The Arbitration Court of Tver region has commenced bankruptcy
supervision procedure on open joint stock company Bologovskiy
Meat Combine.  The case is docketed as A66-6720/2004.  Mr. A.
Danilenko has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to:

(a) Bologovskiy Meat Combine
    171070, Russia, Bologoye,
    1st Zamotinskaya Str. 4

(b) Temporary Insolvency Manager
    170000, Russia,
    Tver, Post User Box 333

A hearing will take place at the Arbitration Court of Tver
region on December 6, 2004, 10:00 a.m.


DYUMINICHESKIY OPEN: Proofs of Claim Deadline Expires December
--------------------------------------------------------------
The Arbitration Court of Kaluga region has commenced bankruptcy
proceedings against Dyuminicheskiy Open Pit after finding the
state-owned enterprise insolvent.  The case is docketed as A23-
3556/03b-10-138.  Mr. N. Kozlov has been appointed insolvency
manager.  Creditors have until December 1, 2004 to submit their
proofs of claim to 121309, Russia, Moscow, Post User Box 88.

CONTACT:  DYUMINICHESKIY OPEN PIT
          Russia, Kaluga region,
          Duminichi, Gostinaya Str. 12

          Mr. N. Kozlov
          Insolvency Manager
          121309, Russia, Moscow,
          Post User Box 88
          Phone: (095) 506-38-77


INDUSTRIAL BUILDING: Insolvency Manager to Temporarily Run Firm
---------------------------------------------------------------
The Arbitration Court of Smolensk region has commenced
bankruptcy proceedings against Industrial Building Corporation
after finding the limited liability company insolvent.  The case
is docketed as A62-552-N/2003.  Mr. O. Krasniy has been
appointed insolvency manager.

Creditors have until December 1, 2004 to submit their proofs of
claim to:

(a) Industrial Building Corporation
    214014, Russia, Smolensk,
    Engelsa Str. 23A

(b) Insolvency Manager
    214000, Russia, Smolensk,
    Oktyabrskoy Revolyutsii Pr. 8, Office 1

(c) The Arbitration Court of Smolensk Region
    214018, Russia, Smolensk,
    Gagarina Pr. 46


INVEST-MET: Applies for Bankruptcy Proceedings
----------------------------------------------
The Arbitration Court of Kursk region has commenced bankruptcy
proceedings against Invest-Met (TIN 0411029863) after finding
the close joint stock company insolvent.  The case is docketed
as A35-5696/04 g.  Mr. P. Salyuk has been appointed insolvency
manager.

Creditors may submit their proofs of claim to:

(a) Insolvency Manager
    305502, Russia, Kursk region,
    im. Marshala Zhukova Str. 4th block, 10/2

(b) The Arbitration Court of Kursk region
    305004, Russia, Kursk,
    K. Marksa Str. 25

(c) Invest-Met
    305000, Russia, Kursk,
    Lenina Str. 31, Apartment 112


KLETINSKIY ENGINEERING: Declared Insolvent
------------------------------------------
The Arbitration Court of Ryazan region has commenced bankruptcy
proceedings against Kletinskiy Engineering Plant after finding
the open joint stock company insolvent.  The case is docketed as
A54-606/04-S6.  Mr. S. Mordvinov has been appointed insolvency
manager.

Creditors have until December 1, 2004 to submit their proofs of
claim to 390035, Russia, Ryazan, Post User Box 75.  A hearing
will take place on December 16, 2004, 4:45 p.m.

CONTACT:  KLETINSKIY ENGINEERING PLANT
          391361, Russia, Ryazan region,
          Kasimovskiy region, Kletino

          Mr. S. Mordvinov
          Insolvency Manager
          390035, Russia, Ryazan,
          Post User Box 75


ORLOVSKOGO ORDENA: Orel Court Appoints Insolvency Manager
---------------------------------------------------------
The Arbitration Court of Orel region has commenced bankruptcy
proceedings against Orlovskogo Ordena Trudovogo Krasnovogo
Znameni Engineering Plant in Name of Medvedev after finding the
open joint stock company insolvent.  The case is docketed as
A48-1197/04-17B.  Mr. A. Evseyev has been appointed insolvency
manager.

Creditors have until December 1, 2004 to submit their proofs of
claim to:

(a) Orlovskogo Ordena Trudovogo Krasnovogo Znameni
    Engineering Plant in Name of Medvedev
    302030, Russia, Orel,
    Moskovskaya Str. 69

(b) Insolvency Manager
    302004, Russia, Orel,
    3rd Kurskaya Str. 15

(c) The Arbitration Court of Orel Region
    302021, Russia, Orel,
    S-Shedrina Str. 22


PRIMORSKIY FISH: Succumbs to Bankruptcy
---------------------------------------
The Arbitration Court of Saint Petersburg and the Leningrad
region has commenced bankruptcy proceedings against Primorskiy
Fish Combine after finding the open joint stock company
insolvent.  The case is docketed as A56-2062/04.  Ms. U. Durneva
has been appointed insolvency manager.

CONTACT:  Ms. U. Durneva, Insolvency Manager
          194004, Russia, Saint-Petersburg,
          B. Sampsonievskiy Pr. 60


STAVROPOLSKOYE PUBLISHING: Names I. Gorelov Insolvency Manager
--------------------------------------------------------------
The Arbitration Court of Stavropol region has commenced
bankruptcy supervision procedure on state enterprise
Stavropolskoye Publishing House.  The case is docketed as A63-
98/04-S5.  Mr. I. Gorelov has been appointed temporary
insolvency manager.  Creditors may submit their proofs of claim
to 355029, Russia, Stavropol region, Stavropol, Przhevalskogo
Str. 5, Apartment 1.

CONTACT:  STAVROPOLSKOYE PUBLISHING HOUSE
          Russia, Stavropol

          Mr. I. Gorelov
          Temporary Insolvency Manager
          355029, Russia, Stavropol region,
          Stavropol, Przhevalskogo Str. 5, Apartment 1
          Phone: (8652) 37-07-75


TECHNICAL REPAIR: Under Bankruptcy Supervision
----------------------------------------------
The Arbitration Court of Omsk region has commenced bankruptcy
supervision procedure on municipal unitary enterprise Technical
Repair Enterprise.  The case is docketed as K/E-81/04.  Mr. V.
Konovalov has been appointed temporary insolvency manager.

Creditors have until December 1, 2004 to submit their proofs of
claim to 646099, Russia, Omsk, Main Post Office, Post User Box
7664.  A hearing will take place on January 18, 2005, 10:00 a.m.

CONTACT:  TECHNICAL REPAIR ENTERPRISE
          644035, Russia,
          Omsk, Ovoshnoy Pr. 7A

          Mr. V. Konovalov
          Temporary Insolvency Manager
          646099, Russia, Omsk,
          Main Post Office, Post User Box 7664


UGRANSKAYA PRINTING-HOUSE: Bankruptcy Proceedings Begin
-------------------------------------------------------
The Arbitration Court of Smolensk region has commenced
bankruptcy proceedings against Ugranskaya Printing-House after
finding the state-owned enterprise insolvent.  The case is
docketed as A-62-598-N/2004.  Mr. O. Krasniy has been appointed
insolvency manager.

Creditors may submit their proofs of claim to:

(a) Ugranskaya Printing-House
    Russia, Smolensk region, Ugra

(b) Insolvency Manager
    214000, Russia, Smolensk,
    Oktyabrskoy Revolyutsii Pr. 8, Office 1

(c) The Arbitration Court of Smolensk Region
    214018, Russia,
    Smolensk, Gagarina Pr. 46


=========
S P A I N
=========


IZAR: Basque Workers to Draft Alternative Plan
----------------------------------------------
Holding company Sociedad Estatal de Participaciones Industriales
(SEPI) met with trade unions Sunday to review the government
recovery plan for ailing shipbuilder Izar, El Pais says.

The plan aims to rescue the debt-ridden shipbuilder through a
drastic restructuring measure.  The holding company plans to
separate the troubled shipbuilder's military and civilian
shipbuilding divisions.  SEPI intends to keep the profitable
military unit and privatize the civilian division.

The unions recently agreed to SEPI's proposal to include Izar'
San Fernando shipyard in the military unit, thus keeping the
yard under state control.  The unions have yet to decide whether
civilian shipyard Fene, located in Galicia, should be
transformed into a military construction yard.

Meanwhile, SEPI's plan met opposition from Izar's La Naval
shipyard workers, who staged a demonstration Sunday.  The Basque
shipbuilding sector plans to meet this week to draft an
alternative recovery plan.

CONTACT:  IZAR CONSTRUCCIONES NAVALES a.s.
          Velazquez Street 132
          28006 Madrid, Spain
          Phone: +34 91 335 84 00
          Fax: +34 91 335 86 52
          E-mail: izar@izar.es
          Web site: http://www.izar.es

          SOCIEDAD ESTATAL DE PARTICIPACIONES INDUSTRIALES
          Velasquez, 134
          28006 Madrid, Spain
          Phone: +34-91-396-10-00
          Fax: +34-91-562-87-89
          Web site: http://www.sepionline.com


=============
U K R A I N E
=============


AGROIMPEX: Court Appoints Temporary Insolvency Manager
------------------------------------------------------
The Economic Court of Chernigiv region has launched bankruptcy
supervision procedure against LLC Agroimpex (code EDRPOU
24837808).  The case is docketed as 5/149 B.  Arbitral manager
Mrs. Tetyana Tanska (License Number AA 669671) has been
appointed temporary insolvency manager.  The company holds
account number 26003003676 at JSCB Polykombank, Chernigiv
branch, MFO 353100.

Creditors have until November 4, 2004 to submit their proofs of
claim to:

(a) AGROIMPEX
    14000, Ukraine, Chernigiv region,
    Chernigiv district, Oleksandrivka,
    Yabluneva Str. 1/21

(b) Mrs. Tetyana Tanska
    Temporary Insolvency Manager
    Ukraine, Chernigiv region, Miru Avenue, 139/21

(c) ECONOMIC COURT OF CHERNIGIV REGION
    14000, Ukraine, Chernigiv region,
    Miru Avenue, 20


ARITON: Sets Proofs of Claim Deadline
-------------------------------------
The Economic Court of Kyiv Donetsk region commenced bankruptcy
proceedings against Ariton (code EDRPOU 31243425) on September
7, 2004 after finding the limited liability company insolvent.
The case is docketed as 24/79-b.  Arbitral manager Mr. Igor
Omelchenko has been appointed liquidator/insolvency manager.

Creditors have until November 4, 2004 to submit their proofs of
claim to:

(a) ARITON
    Ukraine, Kyiv region,
    Mechnikov Str. 8/22

(b) Mr. Igor Omelchenko
    Liquidator/Insolvency Manager
    02121, Ukraine, Kyiv region,
    M. Bazhan Avenue, 9b/4

(c) ECONOMIC COURT OF KYIV REGION
    01030, Ukraine, Kyiv region,
    B. Hmelnitskij Boulevard, 44-B


AUSKOPRUT: Liquidator Moves in
------------------------------
The Economic Court of Ivano-Frankivsk region commenced
bankruptcy proceedings against Auskoprut (code EDRPOU 14294666)
on September 9, 2004 after finding the Ukrainian-Austrian
enterprise insolvent.  The case is docketed as B-14/53.
Arbitral manager Mrs. Labyak Lubov (License Number AA 250480)
has been appointed liquidator/insolvency manager.

CONTACT:  JOINT UKRAINIAN-AUSTRIAN ENTERPRISE AUSKOPRUT
          76000, Ukraine, Ivano-Frankivsk region,
          Grunvaldska Str. 7/9

          Mrs. Labyak Lubov
          Liquidator/Insolvency Manager
          76022, Ukraine, Ivano-Frankivsk region,
          Parkova Str. 20/7
          Phone: 8 (03422) 4-04-52
                 8 (03422) 3-24-61
                 8 (050) 187-81-01

          ECONOMIC COURT OF IVANO-FRANKIVSK REGION
          76000, Ukraine, Ivano-Frankivsk region,
          Shevchenko Str. 16


EXPO-TRADE: Court Opens Bankruptcy Proceedings
----------------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Expo-Trade (code EDRPOU 30422544) on
September 20, 2004 after finding the limited liability company
insolvent.  The case is docketed as 42/74 B.  Arbitral manager
Mrs. Ludmila Nesvit (License Number AA 668263) has been
appointed liquidator/insolvency manager.

CONTACT:  EXPO-TRADE
          83111, Ukraine, Donetsk region,
          Saltikov-Shedrin Str. 1a

          Mrs. Ludmila Nesvit
          Liquidator/Insolvency Manager
          Ukraine, Donetsk region,
          M. Mametova Str. 8/2

          ECONOMIC COURT OF DONETSK REGION
          83048, Ukraine, Donetsk region,
          Artema Str. 157


VIN-EKS+: Bankruptcy Supervision Begins
---------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
supervision procedure against LLC Vin-Eks+ (code EDRPOU
30453394) on August 12, 2004.  The case is docketed as 5/433-04.
Arbitral manager Mr. A. Milovanij (License Number AA 719877) has
been appointed temporary insolvency manager.  The company holds
account number 26001178 at OJSC Creditprombank, Vinnitsya
branch, MFO 302623.

Creditors have until November 4, 2004 to submit their proofs of
claim to:

(a) VIN-EKS+
    21001, Ukraine, Vinnitsya region,
    Shmidt Str. 36/44

(b) Mr. A. Milovanij
    Temporary Insolvency Manager
    Ukraine, Vinnitsya region,
    Shirshina Str. 16a/50

(c) ECONOMIC COURT OF VINNITSYA REGION
    21036, Ukraine, Vinnitsya region,
    Hmelnitske Shose, 7


VORONIVSKE: Under Bankruptcy Supervision
----------------------------------------
The Economic Court of Cherkassy region commenced bankruptcy
supervision procedure on OJSC Voronivske (code EDRPOU 00387424)
on August 30, 2004.  The case is docketed as 01/2788.  Arbitral
manager Mr. Grigorij Kovalenko (License Number AA 419224) has
been appointed temporary insolvency manager.  The company holds
account number 26005300194 at Oshadbank, Gorodishenske branch
3278, MFO 354529.

Creditors have until November 4, 2004 to submit their proofs of
claim to:

(a) VORONIVSKE
    19500, Ukraine, Cherkassy region,
    Gorodishenskij district, Voronivka,
    Peremogi Str. 45

(b) Mr. Kovalenko Grigorij
    Temporary Insolvency Manager
    Ukraine, Cherkassy region,
    Blagovisna Str. 299/55

(c) ECONOMIC COURT OF CHERKASSY REGION
    18005, Ukraine, Cherkassy region,
    Shevchenko Avenue, 307


YENAKIEVE' HABERDASHERY: Declared Insolvent
-------------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Yenakieve' Sewing-Haberdashery Factory (code
EDRPOU 05479740) on September 2, 2004 after finding the open
joint stock company insolvent.   The case is docketed as 15/141
b.  Mrs. Olga Perekrestova (License Number 249771) has been
appointed liquidator/insolvency manager.

CONTACT:  YENAKIEVE' SEWING-HABERDASHERY FACTORY
          86422, Ukraine, Donetsk region,
          Yenakiyeve, Gagarin Str. 54

          Mrs. Olga Perekrestova
          Liquidator/Insolvency Manager
          84638, Ukraine, Donetsk region,
          Gorlivka, Peremogi Avenue, 132/19

          ECONOMIC COURT OF DONETSK REGION
          83048, Ukraine, Donetsk region,
          Artema Str. 157


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


ABSA GROUP: Individual Ratings Raised to 'B/C'
----------------------------------------------
Fitch Ratings upgraded the Individual ratings of Absa Group
Limited and its wholly owned subsidiary, Absa Bank Limited, to
'B/C', from 'C', and affirmed all the other ratings (listed
below).  The Long-term Outlook is Stable.

The upgrade reflects the continued improvement in Absa's
profitability, asset quality and capital adequacy, which have
been aided by a more favorable domestic economic environment
over the recent past.

Absa's and Absa Bank's Long-term, Short-term and Individual
ratings reflect a strong South African franchise, sound
profitability and stable liquidity profile.  They also reflect
Absa's average capital adequacy ratios and the fact that non-
performing loan ratios, though improved, are higher than those
of some of its peers.  Gross non-performing loans amounted to
3.8% of gross advances at end-March 2004, compared to 5.1% at
the previous year-end.  Both bank and group capital adequacy
ratios stood at an improved 12.1% and 13%, respectively at end-
March 2004.

Absa is a South African financial services holding company,
whose activities span the banking, insurance and other financial
services sectors.  Absa Bank, its major operating subsidiary, is
one of South Africa's four largest banks, by assets, with a
leading position in retail banking.

Further details are contained in an up-coming credit analysis
available at http://www.fitchratings.com.

(a) ABSA Group Limited

Long-term foreign currency affirmed at 'BBB' with a Stable
Outlook;

Long-term local currency affirmed at 'BBB' with a Stable
Outlook;

Short-term foreign currency affirmed at 'F3';

National Long-term affirmed at 'AA-(AA minus) (zaf)' with a
Stable Outlook

National Short-term affirmed at 'F1+(zaf)';
Individual upgraded to 'B/C' from 'C', and

Support affirmed at '5'.

(b) ABSA Bank Limited

Long-term foreign currency affirmed at 'BBB' with a Stable
Outlook;

Long-term local currency affirmed at 'BBB+' with a Stable
Outlook;

Short-term foreign currency affirmed at 'F3';

National Long-term affirmed at 'AA(zaf)' with a Stable Outlook;

National Short-term affirmed at 'F1+(zaf)';

Individual upgraded to 'B/C' from 'C', and

Support affirmed at '2'.

CONTACT:  FITCH RATINGS
          David Makoni
          Anthony Walker, Johannesburg
          Phone: +27 11 516 4900

          Ed Thompson, New York
          Phone: +1 212 908 0364

          Media Relations:
          Campbell McIlroy, London
          Phone: +44 20 7417 4327


ANGLIA TRAILBLAZERS: Names Bull & Co. Administrator
---------------------------------------------------
Ian Bull (IP No 9007) has been appointed administrator for
Anglia Trailblazers Limited.  The appointment was made October
21, 2004.  Its registered office is located at 6 Wivenhoe
Business Park, Brook Street, Wivenhoe, Colchester CO7 9DD.

CONTACT:  BULL & CO.
          South Suffolk Business Centre, Alexandra Road,
          Sudbury, Suffolk CO10 2ZX


ASHTEAD GROUP: Expects Profit to Surpass Expectations
-----------------------------------------------------
Ashtead Group plc, the international equipment rental group
serving the construction, industrial and homeowner markets,
makes this trading update ahead of its interim results.

The press release of the Group's results for the first quarter
issued on 20 September 2004 stated that trading conditions
remained favorable in both the Group's main markets and were
being enhanced by the work necessary to deal with the clean up
of hurricanes Charley, Frances, Ivan and (since that date)
Jeanne.

These favorable conditions have now continued throughout the
second quarter to date and, as a result, the Group expects that
its profit before goodwill amortization and taxation for the six
months ending 31 October 2004 will be ahead of market
expectations.

It is too soon to know whether the recent revenue trends will
continue in the second half of the year.  A further update on
the outlook for the year ending 30 April 2005 will be given with
the interim results, which are scheduled for release on Thursday
16 December 2004.

                            *   *   *

Standard & Poor's Ratings Services previously affirmed its 'B+'
long-term corporate credit rating on U.K.-based plant-hire
company Ashtead Group PLC, following the group's announcement of
a proposed US$675 million (GBP375 million) loan facility.  The
outlook is stable.

At the same time, Standard & Poor's assigned its 'BB-' long-term
rating, which is one notch above the corporate credit rating, to
the group's proposed five-year senior secured asset-backed loan
facility (ABL), subject to final documentation.  The proposed
facilities were also assigned a recovery rating of '1',
indicating that lenders can expect full recovery of principal in
the event of payment default.

CONTACT:  ASHTEAD GROUP PLC
          Cob Stenham
          Non-executive chairman
          Phone: 020 7299 5562

          George Burnett
          Chief executive

          Ian Robson
          Finance director
          Phone: 01372 362300

          THE MAITLAND CONSULTANCY
          Michelle Jeffery
          Phone: 020 7379 5151


BARCLAYS AEROSPACE: Names Deloitte & Touche Liquidator
------------------------------------------------------
Name of companies:
Barclays Aerospace Investment Limited
Barclays Investment (1992) Limited
BPH Investments, Limited
Exshelfco (Bibi) Limited

At the general meeting of the members of these companies, the
special and ordinary resolutions to wind up the company were
passed.  J. R. D. Smith and N. J. Dargan of Deloitte & Touche,
Athene Place, PO Box 810, 66 Shoe Lane, London EC4A 3WA have
been appointed joint liquidators of the company.

CONTACT:  DELOITTE & TOUCHE LLP
          Athene Place,
          66 Shoe Lane,
          London EC4A 3WA
          Phone: 00 44 (0) 207 936 3000
          Fax:   00 44 (0) 207 779 4001
          Web site: http://www.deloitte.com


B-BUSINESS PARTNERS: Hires Joint Liquidators from PwC
-----------------------------------------------------
At a meeting of the B-Business Partners Limited on October 21,
2004, the special and ordinary resolutions to wind up the
company were passed.  Jonathan Sisson and Richard Setchim of
PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT have
been appointed joint liquidators of the company for the purpose
of such winding-up.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Plumtree Court,
          London EC4A 4HT
          Phone: [44] (20) 7583 5000
          Fax:   [44] (20) 7822 4652
          Web site: http://www.pwc.com


CLOWINS LIMITED: Members Pass Winding up Resolutions
----------------------------------------------------
At the extraordinary general meeting of the members of the
Clowins Limited on October 19, 2004 held at Heathcote House, 136
Hagley Road, Edgbaston, Birmingham B16 9PN, the special,
ordinary and extraordinary resolutions to wind up the company
were passed.  Gerald Frederick Davis has been appointed
liquidator for the purpose of such winding-up.


CRAIGNISH LIMITED: Members Agree to Liquidate Business
------------------------------------------------------
Name of companies:
Craignish Limited
Hargreaves A-V- & Video (Manchester) Limited
Hargreaves Photographic (Manchester) Limited
Keith Johnson & Pelling Limited
Sidings Limited
Sidings No. 1 Limited
Sidings No. 2 Limited
Sidings No. 6 Limited
Sidings No. 7 Limited
Vector Engineering Limited

At the extraordinary general meeting of these companies on
October 21, 2004, the special and ordinary resolutions to wind
up the companies were passed.  Tim Walsh and Jonathan Sisson of
PricewaterhouseCoopers LLP, Benson House, 33 Wellington Street,
Leeds LS1 4JP have been appointed joint liquidators of the
companies for the purpose of such windings-up.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Benson House,
          33 Wellington Street,
          Leeds LS1 4JP
          Phone: [44] (113) 289 4000
          Fax:   [44] (113) 289 4460
          Web site: http://www.pwcglobal.com


ESQUIRE CHAUFFEUR: Top Honcho Banned for More than Two Years
------------------------------------------------------------
The director of a twenty-four hour mini cab business that failed
with total debts estimated at around GBP137,000 has given an
Undertaking not to hold directorships or take any part in
company management for two and a half years.

The Undertaking by Andalib Begum Khan, 27, of Berryfield,
Slough, Berkshire, was given in respect of her conduct as
director of Esquire Chauffeur Services Limited, which carried on
business from premises at Easden House, Petersfield Avenue,
Slough, Berkshire.

Acceptance of the Undertaking on October 8, 2004 prevents
Andalib Begum Khan from being a director of a company or, in any
way, whether directly or indirectly, being concerned or taking
part in the promotion, formation or management of a company for
two and a half years.

Esquire Chauffeur Services Limited was placed into compulsory
liquidation by Order of the High Court on September 4, 2002 at
the request of HM Customs & Excise because more than GBP74, 000
was owed in unpaid VAT.  The company owes an estimated
GBP137,000 to creditors.

The Insolvency Service, on behalf of the Secretary of State for
Trade & Industry, has responsibility (under Section 6 of the
Company Directors Disqualification Act 1986) for the
investigation of the conduct of directors of failed companies
and for the disqualification of those who are considered to be
unfit to be involved in the management of companies in the
future.

Matters of unfit conduct, not disputed by Andalib Begum Khan,
were that:

(a) her position as a director of Esquire was neglected because
    she took no part in the business and allowed his brothers,
    Mr. Mahboob Akhtar Khan and Mr. Abdul Jabar Khan, who
    were not registered directors of Esquire, to manage the
    company;

(b) allowed Esquire to trade to the detriment of HM Customs &
    Excise.

CONTACT:  THE INSOLVENCY SERVICE
          21 Bloomsbury Street
          London, WC1B 3QW
          Web site: http://www.insolvency.gov.uk

          Disqualification Unit
          Phone: 020 7291 6807
                 020 7291 6832 (Vetting)
          E-mail: Disqualification.Unit@insolvency.gsi.gov.uk

          Criminal Allegations Team
          Phone: 020 7291 6841
          E-mail: criminal.allegations@insolvency.gsi.gov.uk


GOODWOOD FLEET: Hires Administrators from PKF
---------------------------------------------
Brian J. Hamblin and Stephen P. Holgate (IP Nos 2085, 7991) have
been appointed administrators for Goodwood Fleet Management
Limited.  The appointment was made October 18, 2004.

The company manages vehicle fleet.  Its registered office is
located at 1 & 2 The Barn, Oldwick, West Stoke Road, Lavant,
Chichester, West Sussex PO18 9AA.

CONTACT:  PKF
          Farringdon Place,
          20 Farringdon Road,
          London EC1M 3AP
          Phone: 020 7065 0000
          Fax:   020 7065 0650
          E-mail: info.london@uk.pkf.com
          Web site: http://www.pkf.co.uk


GTS-VOX LIMITED: Calls in Liquidators from PwC
----------------------------------------------
At the extraordinary general meeting of GTS-Vox Limited on
October 15, 2004, the special and ordinary resolutions to wind
up the company were passed.  Richard Setchim and Jonathan Sisson
of PricewaterhouseCoopers LLP have been appointed joint
liquidators of the company for the purpose of such winding-up.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Plumtree Court,
          London EC4A 4HT
          Phone: [44] (20) 7583 5000
          Fax:   [44] (20) 7822 4652
          Web site: http://www.pwc.com


INTERNATIONAL POWER: RWE Gives Way in Portugal Plant Buyout
-----------------------------------------------------------
International Power (IPR) reports that EDP (ENERGIAS
DE PORTUGAL) has waived its pre-emption right over IPR's planned
acquisition of RWE Power AG's 75% shareholding in the 990MW
Turbogas plant in Portugal.

This is an important development in enabling IPR to proceed with
the completion of the acquisition, which was announced on 20
July 2004.

IPR has granted EDP an option to purchase 20% of Turbogas and
26.7% of Portugen (the O&M company) for EUR55.7 million (GBP38.7
million) subject to a price adjustment mechanism.  This option
may be exercised by EDP during the first nine months following
the completion of IPR's acquisition, or during a term beginning
on 1 January 2008 and ending on 31 December 2009.

IPR expects to complete this acquisition by the end of this
year.

About International Power

International Power plc is a leading independent electricity
generating company with 11,210MW (net) in operation and 1,649MW
(net) under construction.  International Power has power plants
in operation or under construction in Australia, the United
States of America, the United Kingdom, the Czech Republic, the
UAE, Oman, Saudi Arabia, Portugal, Turkey, Malaysia, Pakistan
and Thailand.  International Power was listed on the London
Stock Exchange and the New York Stock Exchange (as ADR's), on 2
October 2000.  The ticker symbol on both stock exchanges is
'IPR'.

                            *   *   *

On August 3, 2004, TCR-Europe reported that Standard & Poor's
Ratings Services placed its 'BB' long-term issuer credit and
senior unsecured debt ratings on U.K.-based global power
developer International Power PLC on CreditWatch with negative
implications.  The action follows several announcements made by
the company on July 30, 2004, on expected successful
acquisitions, its half-year results, an agreed debt
restructuring at its U.S. subsidiary American National Power
(ANP), a forthcoming rights issue of GBP291 million (US$529
million), and a change in dividend policy.

CONTACT:  INTERNATIONAL POWER
          Media
          Sara Richardson
          Phone: +44 (0) 20 7320 8619

          Investor
          Aarti Singhal
          Phone: +44 (0) 20 7320 8681


IN-TOUCH CREATIVE: Liquidator to Present Final Report
-----------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

IN THE MATTER OF In-Touch Creative Marketing Consultancy Limited
                        (In Liquidation)

Notice is hereby given, pursuant to Section 106 of the
Insolvency Act 1986, that the final meetings of the members and
creditors of In-Touch Creative Marketing Consultancy Limited
will be held at Baker Tilly, Breckenridge House, 274 Sauchiehall
Street, Glasgow G2 3EH on November 30, 2004 at 10:30 a.m. and
11:00 a.m. respectively for the purpose of receiving the
Liquidator's final report on the winding up and determine
whether or not I should be released as Liquidator,

Creditors are entitled to attend in person or alternatively by
proxy.  A Creditor may vote only if his claim has been submitted
to me and that claim has been accepted in whole or in part.  A
resolution will be passed only if a majority in value of those
voting in person or by proxy vote in favor.

Proxies and claims must be lodged with me at or before the
meeting.

George Paton, Liquidator
October 20, 2004

CONTACT:  BAKER TILLY
          Breckenridge House
          274 Sauchiehall Street
          Glasgow G2 3EH
          Phone: 0141 307 5000
          Fax: 0141 307 5005
          E-mail: david.gwilliam@bakertilly.co.uk
          Web site: http://www.bakertilly.co.uk


IP SUPPORT: Appoints CBA Administrator
--------------------------------------
Neil Charles Money and Geoff Robbins (IP Nos 8900, 6622) have
been appointed administrators for IP Support Ltd.  The
appointment was made October 20, 2004.

The company offers IT services.  Its registered office is
located at 10 Pencroft Way, Manchester Science Park, Manchester
M15 6JJ.

CONTACT:  CBA
          Lichfield Place, 435 Lichfield Road,
          Aston, Birmingham B6 7SS


JPMP MOZART: Hires Joint Liquidators from Deloitte & Touche
-----------------------------------------------------------
At the general meeting of the members of JPMP Mozart (M&H
Plastics-UK) Holdings Limited, the special, extraordinary and
ordinary resolutions to wind up the company were passed.  James
Robert Drummond Smith and Nicholas James Dargan of Deloitte &
Touche LLP, 66 Shoe Lane, London EC4A 3WA have been appointed
liquidators for the purpose of such voluntary winding-up.

CONTACT:  DELOITTE & TOUCHE LLP
          Athene Place,
          66 Shoe Lane,
          London EC4A 3WA
          Phone: 00 44 (0) 207 936 3000
          Fax:   00 44 (0) 207 779 4001

          Web site: http://www.deloitte.com


KLINGER ALLAN: Sets Deadline for Proofs of Claim
------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

             IN THE MATTER OF Klinger Allan Limited

Pursuant to Rule 4.182A of the Insolvency Rules 1986, notice is
hereby given that the liquidator intends to make a first and
final distribution to creditors of Klinger Allan Limited and
that the last date for proving debts against the company, which
is being voluntarily wound up, is December 15, 2004, by which
date claims must be sent to the undersigned, Mark N Ranson of
Horwath Clark Whitehill (Yorkshire) LLP, North Lane House, 9b
North Lane, Headingley, Leeds, LS6 3HG, the liquidator of the
company.

This notice refers to company number SC14870, which is solvent.
Creditors who do not prove in time may, under R4.182A of the
Insolvency Rules 1986, be disregarded.

Mark N. Ranson, Liquidator
October 22, 2004

CONTACT:  HORWATH CLARK WHITEHILL (YORKSHIRE) LLP
          North Lane House
          9b North Lane
          Headingley
          Leeds LS6 3HG
          Phone: 0113 274 0404
          Fax: 0113 274 3780
          E-mail: mike.jackson@horwath-yorks.co.uk
          Web site: http://www.horwathcw.com


LINCOLN AUCTION: Calls in Liquidator from Jackson Jolliffe Cork
---------------------------------------------------------------
At the extraordinary general meeting of the members of the
Lincoln Auction Centre Limited on October 20, 2004 held at the
offices of Jacksons Jolliffe Cork, Lowgate House, Lowgate, Hull
HU1 1EL, the special and extraordinary resolutions to wind up
the company were passed.  M. C. Bowker of Jacksons Jolliffe
Cork, Lowgate House, Lowgate, Hull HU1 1EL has been appointed
liquidator for the purpose of such winding-up.

CONTACT:  JACKSONS JOLLIFFE CORK
          Lowgate House,
          Lowgate, Hull HU1 1EL
          Web site: http://www.jjcork.co.uk


MARCONI CORPORATION: Chief Operating Officer Quits
--------------------------------------------------
Marconi Corporation plc announced Mike Donovan would be leaving
the business at the end of December 2004.  He has resigned from
the Board of the Company with immediate effect.

Mike Donovan has been Chief Operating Officer of the Company
since September 2001.  He also has had responsibility for the
Company's North American businesses and has been based in the
United States since 1998.

John Devaney, Chairman of Marconi Corporation Plc, said: "Mike
has had a very significant role in the turnaround of Marconi,
playing a key role in the operational restructuring of the
Group.  We, and Mike, have recognized for some time that once
the operational restructuring was largely complete, and the last
of our non-core businesses had been disposed of, Mike's role
would need to change.  Unfortunately it has not been possible
for us to find an appropriate role for him.  I would like to
express my thanks to Mike for his excellent contribution to the
Company's progress over the last three years."

About Marconi Corporation Plc

Marconi Corporation Plc (London: MONI and NASDAQ: MRCIY) is a
global telecommunications equipment, services and solutions
company.  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 customer base includes many of the world's largest
telecommunications operators.

CONTACT:  MARCONI CORPORATION PLC
          4th Floor Regents Place
          338 Euston Rd
          London NW1 3BT
          Phone: +44-20-7493-8484
          Fax: +44-20-7493-1974
          Web site: http://www.marconi.com

          Press Enquiries
          David Beck
          Phone: 0207 306 1490;
          E-mail: david.beck@marconi.com

          Investor Enquiries
          Heather Green
          Phone: 0207 306 1735
          E-mail: heather.green@marconi.com


MAURICE MILLARD: Names Baker Tilly Administrator
------------------------------------------------
Andrew Martin Sheridan and Cedric Marsden Clapp (IP Nos 008839,
005614) have been appointed administrators for Maurice Millard
(Hatcheries) Limited.  The appointment was made October 26,
2004.

CONTACT:  BAKER TILLY
          1 Georges Square
          Bristol BS1 6BP
          Phone: 0117 945 2000
          Fax: 0117 945 2001
          Web site: http://www.bakertilley.co.uk


MURRAY EMERGING: Ernst & Young Called in as Liquidator
------------------------------------------------------
The Board of Murray Emerging Growth and Income Trust PLC
announces that at the extraordinary general meeting of the
Company held 29 October 2004, both of the proposed resolutions
were duly passed.  Accordingly, the Company has been placed into
members' voluntary liquidation and Messrs Burton and Brazzill of
Ernst & Young LLP have been appointed as the Company's
liquidators.

It is expected that a distribution will be made to Zero Dividend
Preference Shareholders in respect of their pre-determined
capital entitlement on 1 November 2004, or as soon as
practicable thereafter.

It is also expected that an initial distribution will be made to
Ordinary Shareholders during the week commencing 1 November
2004, or as soon as practicable thereafter.

Prior to the closure of the liquidation, any balance remaining
in the hands of the liquidators will be distributed pro rata to
Ordinary Shareholders.


NORTEX LIMITED: Members Call in Liquidator
------------------------------------------
At the extraordinary general meeting of the Nortex Limited on
October 18, 2004 held at 73 Arthur Street, Redditch,
Worcestershire B98 8JY, the special and ordinary resolutions to
wind up the company were passed.  Andrew Turpin of Poppleton &
Appleby, 35 Ludgate Hill, Birmingham B3 1EH has been appointed
liquidator for the purpose of such winding-up.

CONTACT:  POPPLETON & APPLEBY
          35 Ludgate Hill,
          Birmingham B3 1EH


OCEAN OPERATIONS: Hires CLB as Administrator
--------------------------------------------
Mark Terence Getliffe (IP No 008892) has been appointed
administrator for Ocean Operations Limited.  The appointment was
made October 20, 2004.

The company process and preserve fish products.  Its registered
office is located at Century House, 11 St Peter's Square,
Manchester M2 3DN.

CONTACT:  CLB
          Century House, 11 St Peter's Square,
          Manchester M2 3DN


ROBINSON LLOYD: Three-year Ban for Former Director
--------------------------------------------------
A director of an information technology services business that
failed with total debts estimated at GBP333,000 has given an
Undertaking not to hold directorships or take any part in
company management for three years.

The Undertaking by Colin Bowyer, of Russell Road, Mossley Hill,
Liverpool, was given in respect of his conduct as a director of
Robinson Lloyd Limited.  Robinson carried on business from
premises at Midland House, 42 Buckingham Street, Aylesbury,
Buckinghamshire.

Acceptance of the Undertaking on October 14, 2004 prevents Mr.
Bowyer from being a director of a company or, in any way,
whether directly or indirectly, being concerned or taking part
in the promotion, formation or management of a company for the
above period.

Robinson was placed into liquidation on October 24, 2001 with
estimated debts of GBP333,444.

The Insolvency Service, on behalf of the Secretary of State for
Trade & Industry, has responsibility (under Section (6) of the
Company Directors Disqualification Act 1986) for the
investigation of the conduct of directors of failed companies
and for the disqualification of those who are considered to be
unfit to be involved in the management of companies in the
future.

Matters of unfit conduct, not disputed by Mr. Bowyer, were that
he:

(a) caused or allowed Robinson to trade while insolvent;

(b) caused or allowed Robinson to trade to the detriment of its
    creditors; and

(c) caused or allowed Robinson to trade to the detriment of the
    Crown in that he disregarded Robinson obligations to the
    Inland Revenue in respect of PAYE and NIC contributions.

CONTACT:  THE INSOLVENCY SERVICE
          21 Bloomsbury Street
          London, WC1B 3QW
          Web site: http://www.insolvency.gov.uk

          Disqualification Unit
          Phone: 020 7291 6807
                 020 7291 6832 (Vetting)
          E-mail: Disqualification.Unit@insolvency.gsi.gov.uk

          Criminal Allegations Team
          Phone: 020 7291 6841
          E-mail: criminal.allegations@insolvency.gsi.gov.uk


S P PLASTICS: Names Moore Stephens Administrator
------------------------------------------------
Simon G. Paterson (IP No 6856) and David A. Rolph (IP No 5930)
have been appointed administrators for S P Plastics Limited.
The appointment was made October 21, 2004.  The company is
engaged in injection molding.

CONTACT:  MOORE STEPHENS CORPORATE RECOVERY
          Victory House
          Admiralty Place
          Chatham Maritime
          Kent ME4 4QU
          Phone: +44 (01634) 895100
          Fax: +44 (01634) 895101
          Web site: http://www.moorestephens.com

          MOORE STEPHENS
          1 Snow Hill,
          London EC1A 2EN
          Phone: 020 7334 9191
          Fax:   020 7248 3408
          Web site: http://www.moorestephens.co.uk


S R DEMOLITION: Hires PricewaterhouseCoopers as Administrator
-------------------------------------------------------------
Michael Horrocks (IP No 8026) and Ian David Green (IP No 9045)
have been appointed administrators for S R Demolition And
Construction Limited.  The appointment was made October 22,
2004.  The company is engaged in general construction and
demolition.

CONTACT:  PRICEWATERHOUSECOOPERS L.L.P.
          101 Barbirolli Square
          Lower Mosley Street
          Manchester M2 3PW
          Phone: [44] (161) 236 9191
          Fax: [44] (161) 247 4000 (ABAS)
                          245 2902/3/6/7 (TLS)
                          245 2910(MCS)
                          245 2905 (FAS)
          Web site: http://www.pwcglobal.com

          PRICEWATERHOUSECOOPERS LLP
          Benson House,
          33 Wellington Street,
          Leeds LS1 4JP
          Phone: [44] (113) 289 4000
          Fax:   [44] (113) 289 4460
          Web site: http://www.pwcglobal.com


STIRLING SECURITY: Insolvency Service Bans Two Directors
--------------------------------------------------------
Two directors of a security systems installation business that
failed with total debts estimated at around GBP370,000 have
given an Undertaking not to hold directorships or take any part
in company management for a combined period of eight years.

The Undertaking by Mark Richards, 36, of Dickens Close,
Gardenwood, East Grinstead, West Sussex, and Trevor McDonald of
Ladyfields Close, Bobbing, Kent, was given in respect of their
conduct as directors of Stirling Security Installations Limited
which carried out business from premises at Stirling House,
Wealden Place, Bradbourne Vale Road, Sevenoaks, Kent.

Acceptance of the Undertaking on October 6, 2004 and October 22,
2004 prevents either Mark Richards from being a director of a
company or, in any way, whether directly or indirectly, being
concerned or taking part in the promotion, formation or
management of a company for five years and Trevor McDonald for
three years.

Stirling Security Installations Limited was placed into
voluntary liquidation on September 18, 2002 with estimated debts
of GBP370,000 owed to creditors.

The Insolvency Service, on behalf of the Secretary of State for
Trade & Industry, has responsibility (under Section (6) of the
Company Directors Disqualification Act 1986) for the
investigation of the conduct of directors of failed companies
and for the disqualification of those who are considered to be
unfit to be involved in the management of companies in the
future.

Matters of unfit conduct, not disputed by either Mark Richards
and Trevor Mcdonald, were that they:

(a) caused or allowed Stirling Security Installations to
    continue trading at the detriment and ultimate expense of
    the Crown; and

(b) failed to ensure that Stirling Security Installations
    complied with statutory taxation requirements, particularly
    regarding the filing of appropriate returns and making
    payment.

CONTACT:  THE INSOLVENCY SERVICE
          21 Bloomsbury Street
          London, WC1B 3QW
          Web site: http://www.insolvency.gov.uk

          Disqualification Unit
          Phone: 020 7291 6807
                 020 7291 6832 (Vetting)
          E-mail: Disqualification.Unit@insolvency.gsi.gov.uk

          Criminal Allegations Team
          Phone: 020 7291 6841
          E-mail: criminal.allegations@insolvency.gsi.gov.uk


STONEGLADE LIMITED: Holds Final Meetings
----------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

               IN THE MATTER OF Stoneglade Limited
                        (In Liquidation)

Notice is hereby given, pursuant to Section 106 of the
Insolvency Act 1986, that the final meetings of the members and
creditors of Stoneglade Limited will be held at Baker Tilly, 23
Queens Street, Edinburgh EH2 1JX on November 26, 2004 at 11:15
a.m. and 11:30 a.m. respectively for the purpose of receiving
the Liquidator's final report on the winding up and determine
whether or not I should be released as Liquidator.

Creditors are entitled to attend in person or alternatively by
proxy. A Creditor may vote only if his claim has been submitted
to me and that claim has been accepted in whole or in part.  A
resolution will be passed only if a majority of those voting in
person or by proxy vote in favor.

Proxies and claims must be lodged with me at or before the
meeting.

Maureen E. Leslie, Liquidator
October 20, 2004

CONTACT:  BAKER TILLY
          23 Queen Street
          Edinburgh EH2 1JX
          Phone: 0131 225 6424
          Fax: 0131 220 1282
          E-mail: janet.hamblin@bakertilly.co.uk
          Web site: http://www.bakertilly.co.uk


TRAESKO 12: Sets Meeting of Creditors Next Week
-----------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

               IN THE MATTER OF Traesko 12 Limited

Notice is hereby given by Bruce Alexander Mackay of Baker Tilly,
Spectrum House, 20-26 Cursitor Street, London EC4A 1HY, and Mark
John Wilson of Baker Tilly, 1st Floor, 46 Clarendon Road,
Watford WD17 1JJ, that a meeting of the creditors of Traesko 12
Limited, formerly Bodilsen (U.K.) Limited, lately of c/o Baker
Tilly, Spectrum House, 20-26 Cursitor Street, London, EC4A 1HY,
formerly of 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ
is to be held at Baker Tilly, Spectrum House, 20-26 Cursitor
Street, London, EC4A 1HY on Tuesday November 9, 2004 at 14.00
hrs.

The meeting is an initial creditors' meeting under paragraph 51
of Schedule B1 to the Insolvency Act 1986 (The Schedule).

A proxy form is enclosed which should be completed and returned
to me by the date of the meeting if you cannot attend and wish
to be represented.

A proxy intended to be used at the meeting must be duly
completed and lodged with Bruce A. Mackay of Baker Tilly,
Spectrum House, 20-26 Cursitor Street, London, EC4A 1HY.
Although proxies may be lodged at the meeting, it would be
helpful if you would submit proxies by the business days prior
to the meeting.  A written statement of claim must also be
submitted to Mr. Mackay whether before or at the meeting.

Any member of the company may apply in writing to Baker Tilly,
Spectrum House, 20-26 Cursitor Street, London, EC4A 1HY for a
copy of the statement of proposals free of charge.

B. A. Mackay, Joint Administrator
October 21, 2004

CONTACT:  BAKER TILLY
          Spectrum House
          20-26 Cursitor Street
          London EC4A 1HY
          Phone: 020 7405 2088
          Fax: 020 7831 2206
          Web site: http://www.bakertilly.co.uk


WH SMITH: Shareholders May Opt to Receive 85p per C Share
---------------------------------------------------------
The terms of the Return of Cash approved by the Shareholders of
WH Smith on 23 September 2004 gave Shareholders two alternatives
in relation to their C Shares.

Shareholders could elect to sell C Shares at 85 pence per share,
free of all dealing expenses and commissions, via the Repurchase
Offer, which was made by the Brokers on 27 October 2004.  Valid
elections to accept the Repurchase Offer were received in
relation to 73,182,358 C Shares (29.2% of issued C Shares).

Accordingly the Brokers purchased such C Shares on 27 October
2004 and these C Shares were purchased by the Company for the
same consideration on 28 October 2004.  All the repurchased C
Shares will be cancelled by the Company.

Alternatively, Shareholders could elect to receive the Initial C
Share Dividend of 85 pence per C Share following which all such
C Shares would automatically be converted into Deferred Shares.
Valid elections to accept the Initial C Share Dividend were
received in relation to 167,686,994 C Shares (66.9% of issued C
Shares).

9,693,148 C Shares (3.9% of issued C Shares) remain in issue as
of Oct. 28.

                            *   *   *

WH Smith has appointed Cazenove & Co. Ltd. and Hoare Govett
Ltd., through its associate ABN AMRO Equities (U.K.) Limited,
(the Brokers) to make the Repurchase Offer described in the
circular from WH Smith to its Shareholders dated 27 August
2004.  The Brokers hereby make the Repurchase Offer, acting as
principal, to purchase the 73,182,358 C Shares in respect of
which valid elections have been received from Shareholders.

The Repurchase Offer is not being made into the United States.
Settlement of the Repurchase Offer will be made on 29 October
2004 when sales advices will be despatched.  Checks and balance
C Share Certificates (if applicable) will be dispatched to
Shareholders whose C Shares are held in certificated form.  The
CREST accounts of Shareholders whose C Shares are held in
uncertificated form will be credited with the proceeds of sale.

CONTACT:  WH SMITH PLC
          Investor Relations
          Mark Boyle
          Phone: 020 7514 9630

          Media Relations
          Louise Evans
          Phone: 020 7514 9624

          CAZENOVE
          Edmund Byers
          Luke Bordewich
          Phone: 020 7588 2828

          HOARE GOVETT
          Neil Collingridge
          Phone: 020 7678 8000

          BRUNSWICK
          Pam Small
          Phone: 020 7404 5959


                            *********


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., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Larri-Nil Veloso, Ma. Cristina Canson,
Liv Arcipe, and Julybien Atadero, Editors.

Copyright 2004.  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 written permission of the publishers.

Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$575 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are US$25 each. For subscription
information, contact Christopher Beard at 240/629-3300.


                 * * * End of Transmission * * *