TCREUR_Public/050119.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, January 19, 2005, Vol. 6, No. 13

                            Headlines

C Z E C H   R E P U B L I C

TELESYSTEM INTERNATIONAL: 2004 Subscribers Swell to 6.7 Million


F R A N C E

ALSTOM SA: Future of German Plant Uncertain
MARIONNAUD PARFUMERIES: Belies Report of Massive Store Closures
RHODIA SA: Sells Manufacturing Plants in Staveley, Derbyshire


G E R M A N Y

ALTJESSNITZER BAU: Claims Filing Period Expires Next Month
F + S GASTRONOMIE: Succumbs to Bankruptcy
HAWI GMBH: Munster Court Appoints Provisional Administrator
KORFF GESELLSCHAFT: Applies for Bankruptcy Proceedings
K + P MARKETING: First Creditors Meeting Slated for March 3

MAISON GLAS: Gives Creditors Until February 16 to File Claims
M+T BAUUNTERNEHMUNG: Interim Administrator Takes over Operations
MULTI MEDIA: Administrator's Report Out March
PC-ON GMBH: Court Accepts Bankruptcy Application
TIMETRONICSYSTEMS GMBH: Bankruptcy Proceedings Begin


I T A L Y

BOSCHI LUIGI: Another Parmalat Unit Declares Bankruptcy
PARMALAT FINANZIARIA: Morgan Stanley Next on Bondi's Hit List
PARMALAT U.S.A.: Court Accepts Amended Disclosure Statement
PARMALAT U.S.A.: Farmland Needs US$100 Mln to Exit Chapter 11


R U S S I A

AMBER: Kaliningrad Court Opens Bankruptcy Proceedings
BREAD RECEIVING: Court Brings in Insolvency Manager
CHUCHKOVSKAYA MOVABLE: Proofs of Claim Deadline February 17
POLYSTYROL: Under Bankruptcy Supervision
PORT WORKSHOPS: Insolvency Manager Takes over Helm

PRAVDINSKAYA OIL: Claims Period Expires Mid-February
SERGIEVSK-AUTO-TRANS: Succumbs to Insolvency
STAROBUYANSKOYE: Applies for Bankruptcy Proceedings
SURGUT-ZHIL-STROY: Claims Deadline Third Week of February
TEPLO-PRIBOR: Court Appoints Insolvency Manager
YUKOS OIL: Money Laundering Added to Khodorkovsky's Charge Sheet


T U R K E Y

DOGUS HOLDING: Ratings Off Watch on Improved Business Health


U K R A I N E

ALCHEVSK' AUTO 10915: Temporary Insolvency Manager Comes in
ALISAR: Insolvency Manager Takes over Operations
AUTO TRANSPORT 2101: Under Bankruptcy Supervision
DARNITSKIJ VAN: Falls into Bankruptcy
ENERGOREZERV: Court Names Temporary Insolvency Manager

FERMER: Urges Creditors to File Claims
GEO-VIT: Bankruptcy Supervision Starts
LIFTSERVICE: Zaporizhya Court Launches Bankruptcy Proceedings
SMACHNIJ HLIB: Files for Liquidation
TARPAN: Undergoes Bankruptcy Supervision Procedure
ZNAMYANSKIJ FOOD: Declared Insolvent


U N I T E D   K I N G D O M

BLAKE FINANCE: Calls Final General Meeting
BOXCLEVER: Talks Between WestLB, U.S. Buyers Enter Homestretch
BRITISH ENERGY: Resumes Trading on London Bourse
BRITISH ENERGY: S&P Lifts 'SD' Rating on Defaulted Bonds
BRITISH ENERGY: New GBP550 Million Bonds Rated 'BB-'

BRUCE HOUSE: Creditors to Take up Liquidation Proposal Tomorrow
CABLE & WIRELESS: Appoints Two New Non-executive Directors
CAPITAL STRATEGIES: Liquidator's Final Report Out Next Month
CARRIER LIMITED: Creditors Meeting Set Next Week
DAWSON HOLDINGS: Interim Results Match Expectations

DECORATIVE INDUSTRIES: Business for Sale
DEDICATED DISTRIBUTION: PricewaterhouseCoopers Takes over Helm
DHE HOLDINGS: Receivers Call Meeting of Unsecured Creditors
D KETLEY: Calls in Tenon Recovery Administrators
EVER 2286: Files for Liquidation a Year After Incorporation

FERGDORM 02: Final Winding up Report Out Next Month
FKAC (NORTHAMPTON): Receivers Set Creditors Meeting Next Week
G E BISSELL: Alumasc Cuts Loss-making Unit Adrift
GIIT REALISATIONS: Opts for Liquidation
HART BOULTON: Hires Administrators from Numerica

HART BOULTON: Receivers Seek Buyers for Printing Business
HD LOGISTICS: Gives Creditors Six Months to File Claims
HEMPKIP LIMITED: Liquidator from BDO Stoy Enters Firm
HYDER SECURITIES: Liquidator to Deliver Final Report February
INTASCOT PLC: Appoints Grant Thornton Liquidator

I T C INTERIORS: Creditors Meeting Slated Tuesday
KITCHENMANIA LIMITED: Calls Creditors Meeting to Decide Fate
KITCHENS @ COST: Creditors to Meet Next Week
PARKSIDE FLEXIBLES: Packaging Materials Supplier for Sale
PATISSERIE CO.: Food Wholesaler Files in Administration

SCIENCE PARK: Calls in Administrative Receivers from Deloitte
SUN-SER FISHING: Joint Liquidators Take over Operations
THOMAS PORTER: Hires Liquidators from Begbies Traynor
US PROPERTIES: KPMG to Deliver Winding up Report Next Month
WATERFORD WEDGWOOD: Royal Doulton Offer Declared Unconditional


                            *********


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


TELESYSTEM INTERNATIONAL: 2004 Subscribers Swell to 6.7 Million
---------------------------------------------------------------
Telesystem International Wireless Inc. (TSX:TIW)(Nasdaq:TIWI)
announces that its operating subsidiaries MobiFon S.A. and Oskar
Mobil a.s. exceeded 6.7 million subscribers as of December 31,
2004.

MobiFon, which operates under the brand name Connex in Romania,
added approximately 541,000 net subscribers during the fourth
quarter, reaching approximately 4,910,000 subscribers at the end
of 2004.  This was Connex's best quarter ever in terms of net
subscriber additions and furthermore, this was combined with a
solid growth in the postpaid segment.  Postpaid net additions
reached 40.9% of total net additions during the quarter
resulting in a 65.7/34.3 prepaid/postpaid mix at the end of
December 2004.

Oskar Mobil, which operates under the brand name Oskar in the
Czech Republic, added approximately 84,000 net subscribers
during the fourth quarter, reaching approximately 1,830,000
subscribers at the end of 2004.  This was Oskar's best quarter
in terms of net subscriber additions in 2004.  Postpaid net
additions reached 86.2% of total net additions during the
quarter resulting in a 52.1/47.9 prepaid/postpaid mix at the end
of December.

"In both cases, we are extremely pleased with the strong growth
in subscribers, particularly in the postpaid segment," said
Alexander Tolstoy, President and Chief Operating Officer of TIW.

About TIW

TIW is a leading provider of wireless voice, data and short
messaging services in Central and Eastern Europe with over 6.7
million subscribers.  TIW operates in Romania through MobiFon
S.A. under the brand name Connex and in the Czech Republic
through Oskar Mobil a.s. under the brand name Oskar.  TIW's
shares are listed on NASDAQ ("TIWI") and on the Toronto Stock
Exchange ("TIW").

                            *   *   *

In June, Standard & Poor's Ratings Services placed its 'B-'
long-term corporate credit ratings on MobiFon Holdings B.V. and
Telesystem International Wireless Inc. on CreditWatch with
positive implications.  Telesystem International owns 99.8% of
MobiFon Holdings, which in turn owns 63.5% of MobiFon S.A.
(MobiFon), Romania's largest cellular operator.

"The CreditWatch placement follows Telesystem International's
announcement that it has entered into an agreement in principle,
which will result in MobiFon Holdings increasing its ownership
interest in MobiFon to up to 79% from the current 63.5%," said
Standard & Poor's credit analyst Joe Morin.

CONTACT:  TELESYSTEM INTERNATIONAL WIRELESS INC.
          Jacques Lacroix (Investors)
          Phone: (514) 673-8466
          E-mail: jlacroix@tiw.ca
          Web site: http://www.tiw.ca


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


ALSTOM SA: Future of German Plant Uncertain
-------------------------------------------
Declining orders and low revenue are putting the future of
Alstom S.A.'s German factory in doubt, reports Agence France-
Presse, citing in-house magazine Megafon.

According to an article written by Alstom executives Gerard
Brunel and Udo Wunsch, the firm's operation in Mannheim, where
it employs some 2,000 people, cannot be guaranteed "if things
continue as they are."

"Revenues are at low levels and incoming orders have fallen
dramatically," the article reads.  This will create a hole of
"some EUR200 million (US$262 million) in the budget until March
2005."  Given the anticipated level of investment in the sector,
the executives also predicted that no significant improvement in
orders from Germany can be expected before 2010.

The article added the level of capacity utilization at the
Mannheim-Kaefertal factory has already reached a "dangerously
low" level due to declining orders.  "The high level of our
costs is not justified by a corresponding increase in quality
compared with so-called low-wage countries," the executives
said.

CONTACT:  ALSTOM S.A.
          25, Avenue Kleber
          75795 Paris Cedex 16, France
          Phone: +33-1-47-55-20-00
          Fax: +33-1-47-55-25-99
          Web site: http://www.alstom.com


MARIONNAUD PARFUMERIES: Belies Report of Massive Store Closures
---------------------------------------------------------------
Troubled perfume maker Marionnaud Parfumeries assures employees
no profitable outlet will be closed as a result of the company's
takeover by Hong Kong tycoon Li Ka-Shing.

A Marionnaud spokesman, who talked to The Telegraph, denied that
as much as 40 stores are about to be shutdown.  He said only 20
stores, which were considered unprofitable following a review by
AS Watson, the retail arm of Mr. Ka-Shing's Hutchinson Whampoa
conglomerate, will be closed.

Marionnaud chief executive and founder Marcel Frydman accepted
Friday a EUR534 million takeover offer from Mr. Ka-Shing.  The
Asian billionaire bought the perfume group for EUR21.80 per
share, 25% higher than the share price.

Marionnaud's problems started late last year after admitting
around EUR93 million in accounting errors.  Financial markets
authority, Autorite Des Marches Financiers (AMF), recently
launched a formal inquiry into the accounting mess.  Creditor
banks refuse to support the group's debt restructuring plan
pending an independent audit of the group's accounts.

CONTACT:  MARIONNAUD PARFUMERIES S.A.
          5 Avenue de Paris
          94300 Vincennes
          Phone: +33 (0)1 48 08 69 69
          Fax: +33 (0)1 48 08 01 51
          Web site: http://www.marionnaud.com


RHODIA SA: Sells Manufacturing Plants in Staveley, Derbyshire
-------------------------------------------------------------
Rhodia S.A. confirmed it has completed the sale of its sulfuric
acid business based at its Staveley (Derbyshire) manufacturing
site to INEOS Chlor Limited.  Production assets are not included
and, as part of the transaction, the site will continue to
manufacture sulfuric acid products on an exclusive basis for
supply to INEOS Chlor for an agreed period of time, after which
the sulfuric acid plant will close, marking the total closure of
the site.

The sale to INEOS Chlor of the chlor-alkali business also based
at Staveley will complete on 31 March 2005 when manufacturing at
the Staveley site will end.  The two manufacturing facilities at
Rhodia's Staveley site principally make sulphuric acid and
chlorine for a wide range of markets, including agriculture,
water, semi-conductors, pharmaceuticals, pigments and waste
treatment.  Currently 76 people are employed at the site.  These
businesses generated sales in 2003 of approximately GBP20
million.

This operation forms part of the divesture of non-strategic
activities pursued by the Rhodia Group with a view to
consolidating its business portfolio.

Rhodia is a global specialty chemicals company recognized for
its strong technology positions in applications chemistry,
specialty materials & services and fine chemicals.  Partnering
with major players in the automotive, electronics, fibers,
pharmaceuticals, agrochemicals, consumer care, tires and paints
& coatings markets, Rhodia offers tailor-made solutions
combining original molecules and technologies to respond to
customers' needs.  It generated net sales of EUR5.4 billion in
2003 and employs 23,000 people worldwide.  Rhodia is listed on
the Paris and New York stock exchanges.

For information about INEOS Chlor, visit
http://www.ineoschlor.com

CONTACT:  RHODIA S.A.
          Press Relations
          Lucia Dumas
          Phone: +33 1 55 38 45 48
          Anne-Laurence de Villepin
          Phone: +33 1 55 38 40 25
          Investor Relations
          Nicolas Nerot
          Phone: +33 1 55 38 43 08


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


ALTJESSNITZER BAU: Claims Filing Period Expires Next Month
----------------------------------------------------------
The district court of Leipzig opened bankruptcy proceedings
against Altjessnitzer Bau- und Sanierungsgesellschaft mbH on
Dec. 21, 2004.  Consequently, all pending proceedings against
the company have been automatically stayed.  Creditors have
until Feb. 7, 2005 to register their claims with court-appointed
provisional administrator Rainer M. Bahr.

Creditors and other interested parties are encouraged to attend
the meeting on March 8, 2005, 8:45 a.m. at the district court of
Leipzig 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:  ALTJESSNITZER BAU- UND SANIERUNGSGESELLSCHAFT MBH
          Naundorfer Str. 29
          04860 Torgau
          Contact:
          Robby Goltz, Manager

          Rainer M. Bahr, Insolvency Manager
          Nonnenstrasse 37
          04229 Leipzig


F + S GASTRONOMIE: Succumbs to Bankruptcy
-----------------------------------------
The district court of Munster opened bankruptcy proceedings
against F + S Gastronomie Betriebs GmbH on Jan. 1, 2005.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until February 25,
2005 to register their claims with court-appointed provisional
administrator Andreas Sontopki.

Creditors and other interested parties are encouraged to attend
the meeting on March 3, 2005, 10:00 a.m. at the district court
of Munster, Gebaudeteil Eingang B, Gerichtsstrasse 2-6, 48149
Munster 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 March 18, 2005,
9:45 a.m. while creditors may constitute a creditors committee
and or opt to appoint a new insolvency manager.

CONTACT:  F + S GASTRONOMIE BETRIEBS GMBH
          Am Borneplatz 3
          48431 Rheine
          Contact:
          Seyhan Kemali, Manager

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


HAWI GMBH: Munster Court Appoints Provisional Administrator
-----------------------------------------------------------
The district court of Munster opened bankruptcy proceedings
against Hawi GmbH Massivbau on Jan. 1, 2005.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Feb. 7, 2005 to register their
claims with court-appointed provisional administrator Manfred
Vellmer.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 28, 2005, 12:00 noon at the district court
of Munster, Gebaudeteil Eingang B, Gerichtsstrasse 2-6, 48149
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.

CONTACT:  HAWI GMBH MASSIVBAU
          Leinenweberstrasse 8
          48317 Drensteinfurt
          Contact:
          Franz Friehe, Manager

          Manfred Vellmer, Insolvency Manager
          Rothenburg 20/21
          48143 Munster
          Phone: 0251/511801
          Fax: +492519277785


KORFF GESELLSCHAFT: Applies for Bankruptcy Proceedings
------------------------------------------------------
The district court of Frankfurt Oder opened bankruptcy
proceedings against Korff Gesellschaft mbH, Internationale
Transporte, Personenbeforderung, Abschleppdienst und
Handelsagentur on Jan. 3, 2005.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until Feb. 10, 2005 to register their claims with
court-appointed provisional administrator Dr. Christoph Junker.

Creditors and other interested parties are encouraged to attend
the meeting on March 17, 2005, 10:30 a.m. at the district court
of Frankfurt Oder, Logenstrasse 13, 15230 Frankfurt Oder 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:  KORFF GESELLSCHAFT MBH, INTERNATIONALE TRANSPORTE,
          PERSONENBEFORDERUNG, ABSCHLEPPDIENST UND
          HANDELSAGENTUR
          Blumenweg 08
          15890 Eisenhuttenstadt

          Dr. Christoph Junker, Insolvency Manager
          Fuggerstr. 24
          10777 Berlin


K + P MARKETING: First Creditors Meeting Slated for March 3
-----------------------------------------------------------
The district court of Cologne opened bankruptcy proceedings
against K + P Marketing GmbH on Dec. 15, 2004.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Feb. 2, 2005 to
register their claims with court-appointed provisional
administrator Dr. Ralf Sinz.

Creditors and other interested parties are encouraged to attend
the meeting on March 3, 2005, 10:00 a.m. at the district court
of Cologne, Hauptstelle, Luxemburger Strasse 101, 50939 Cologne
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:  K + P MARKETING GMBH
          Von-Hunefeld-Strasse 6
          50829 Cologne
          Contact:
          Hans-Josef Kohnlein, Manager

          Dr. Ralf Sinz, Insolvency Manager
          Zeughausstr. 28 - 38
          50667 Cologne
          Phone: 9 21 22 23
          Fax: +492219212221


MAISON GLAS: Gives Creditors Until February 16 to File Claims
-------------------------------------------------------------
The district court of Cologne opened bankruptcy proceedings
against MAISON Glas u. Glasabdichtung GmbH & Co KG on Dec. 23,
2004.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until Feb. 16,
2005 to register their claims with court-appointed provisional
administrator Ulrich Kuhn.

Creditors and other interested parties are encouraged to attend
the meeting on March 16, 2005, 11:15 a.m. at the district court
of Cologne, Hauptstelle, Luxemburger Strasse 101, 50939 Cologne
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:  MAISON GLAS U. GLASABDICHTUNG GMBH & CO KG
          Osterather Strasse 7
          50739 Cologne
          Contact:
          Wolf-Rudiger Putsch, Manager

          Ulrich Kuhn, Insolvency Manager
          Riehler Str. 26
          50668 Cologne
          Phone: 9726157
          Fax: +492219726227


M+T BAUUNTERNEHMUNG: Interim Administrator Takes over Operations
----------------------------------------------------------------
The district court of Cologne opened bankruptcy proceedings
against M+T Bauunternehmung GmbH on Dec. 23, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Feb. 16, 2005
to register their claims with court-appointed provisional
administrator Dr. Rudiger Werres.

Creditors and other interested parties are encouraged to attend
the meeting on March 16, 2005, 10:30 a.m. at the district court
of Cologne, Hauptstelle, Luxemburger Strasse 101, 50939 Cologne
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:  M+T BAUUNTERNEHMUNG GMBH
          Mesmerstr. 8
          51065 Cologne
          Contact:
          Angelo Marrali, Manager

          Dr. Rudiger Werres, Insolvency Manager
          Friesenplatz 17 a
          50672 Cologne
          Phone: 0221/95 14 46 - 20
          Fax: +4922195144690


MULTI MEDIA: Administrator's Report Out March
---------------------------------------------
The district court of Cologne opened bankruptcy proceedings
against Multi Media Entertainment AG on Dec. 30, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Feb. 23, 2005
to register their claims with court-appointed provisional
administrator Hans-Gerd Jauch.

Creditors and other interested parties are encouraged to attend
the meeting on March 3, 2005, 10:25 a.m. at the district court
of Cologne, Hauptstelle, Luxemburger Strasse 101, 50939 Cologne
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:  MULTI MEDIA ENTERTAINMENT AG
          Offenbachplatz 1
          50667 Cologne
          Contact:
          Heinz-Peter Wenz, Manager
          Melanchtonstrasse 40
          42653 Solingen

          Hans-Gerd Jauch, Insolvency Manager
          Sachsenring 81
          50677 Cologne
          Phone: 33660130
          Fax: +492213366085


PC-ON GMBH: Court Accepts Bankruptcy Application
------------------------------------------------
The district court of Magdeburg opened bankruptcy proceedings
against PC-ON GmbH on Dec. 22, 2004.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until Feb. 3, 2005 to register their claims with
court-appointed provisional administrator Klaus Wrede.

Creditors and other interested parties are encouraged to attend
the meeting on March 3, 2005, 10:20 a.m. at the district court
of Magdeburg, Liebknechtstrasse 65-91, 39110 Magdeburg 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:  PC-ON GMBH
          EKZ Elbe-Park Shop 9
          39326 Hermsdorf

          Olaf Nimtz, Manager
          Lindenweg 8
          39167 Irxleben

          Klaus Wrede, Insolvency Manager
          Lennestrasse 10
          39112 Magdeburg
          Phone: 0391/5973315
          Fax: 0391/5973333


TIMETRONICSYSTEMS GMBH: Bankruptcy Proceedings Begin
----------------------------------------------------
The district court of Cologne opened bankruptcy proceedings
against TimeTronicSystems GmbH on Dec. 30, 2004.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Feb. 23, 2005 to
register their claims with court-appointed provisional
administrator Hans-Gerd Jauch.

Creditors and other interested parties are encouraged to attend
the meeting on March 23, 2005, 10:15 a.m. at the district court
of Cologne, Hauptstelle, Luxemburger Strasse 101, 50939 Cologne
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:  TIMETRONICSYSTEMS GMBH
          Landwehr 46
          51491 Overath
          Contact:
          Mario Anhalt, Manager

          Hans-Gerd Jauch, Insolvency Manager
          Sachsenring 81
          50677 Cologne
          Phone: 33660130
          Fax: +492213366085


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


BOSCHI LUIGI: Another Parmalat Unit Declares Bankruptcy
-------------------------------------------------------
Parmalat Finanziaria S.p.A., in Extraordinary Administration,
announced that its subsidiary Boschi Luigi e Figli S.p.A.
requested insolvency status with the Civil Court in Parma on 17
December 2004.  The Court accepted the request on 13 January
2005 declaring the company insolvent.

Boschi Luigi e Figli S.p.A. was admitted by decree of the
Minister of Production Activities on December 31, 2004 to the
Extraordinary Administration procedure and Enrico Bondi was
appointed Extraordinary Commissioner of this company.

Collecchio (Parma), 14 January 2005
Parmalat Finanziaria S.p.A.
in Extraordinary Administration

CONTACT:  BOSCHI LUIGI E FIGLI S.P.A.
          Via Ghiara 24
          43012 Fontanellato (PR)
          Italy
          Phone: +39 0521 829811
          Fax: +39 0521 829898


PARMALAT FINANZIARIA: Morgan Stanley Next on Bondi's Hit List
-------------------------------------------------------------
Enrico Bondi, extraordinary commissioner of collapsed dairy
giant Parmalat Finanziaria, is preparing a lawsuit against U.S.
bank Morgan Stanley, Il Sole 24 Ore says.

Mr. Bondi seeks to recover up to EUR300 million from Morgan
Stanley for taking part in fraudulent financial transactions
involving Parmalat.  In June 2003, Morgan Stanley facilitated
the sale of five-year Parmalat bonds worth EUR300 million to
Nextra, Banca Intesa's fund management unit.  Three months
later, Morgan Stanley allegedly sold back the bonds to Parmalat
and then resold the securities to Nextra, but at a lower price,
forcing Parmalat to pay the difference.

The Parmalat commissioner had previously asked Morgan Stanley
for an out-of-court settlement, requesting for a payment of
EUR180 million.  The bank spurned the offer.  Mr. Bondi is
trying to revive the ailing dairy giant through numerous
lawsuits seeking to recover millions of euros.

CONTACT:  PARMALAT FINANZIARIA S.p.A.
          Legal Seat
          43044 Collecchio (Pr)
          Via Oreste Grassi, 26

          Administrative Seat
          20122 Milan
          Piazza Erculea, 9
          Phone: +39 02 806 8801
          Fax: +39 02 869 3863
          Web site: http://www.parmalat.net


PARMALAT U.S.A.: Court Accepts Amended Disclosure Statement
-----------------------------------------------------------
Judge Drain finds that the Parmalat U.S. Debtors' Disclosure
Statement, as revised, contains adequate information within the
meaning of Section 1125 of the Bankruptcy Code.  Accordingly,
Judge Drain approves the revised Disclosure Statement.

The U.S. Debtors will distribute to entities entitled to vote on
the Plan a copy of the revised Disclosure Statement and Plan of
Reorganization filed on January 13, 2005.  The revised
Disclosure Statement and Plan reflect technical modifications
and minor adjustments.  The changes also reflect results of
certain settlements and stipulations relevant to the
implementation of the Debtors' Plan.

A black-lined version of the revised Disclosure Statement is
available for free at:

    http://bankrupt.com/misc/Disclosure_Statement_blacklined.pdf

A black-lined version of revised Plan of Reorganization is
available for free at:

    http://bankrupt.com/misc/Chapter_11_Plan_blacklined.pdf

The Court will hold a hearing on March 1, 2005, to consider
confirmation of the U.S. Debtors' Plans.  Objections must be
filed no later than 4:00 p.m. on February 18, 2005.

Headquartered in Wallington, New Jersey, Parmalat U.S.A.
Corporation -- http://www.parmalatusa.com/-- generates more
than EUR7 billion in annual revenue.  The Parmalat Group's 40-
some brand product line includes milk, yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.  The company employs over 36,000
workers in 139 plants located in 31 countries on six
continents.  It filed for chapter 11 protection on February 24,
2004 (Bankr. S.D.N.Y. Case No. 04-11139). Gary Holtzer, Esq.,
and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP
represent the Debtors in their restructuring efforts.  On June
30, 2003, the Debtors listed EUR2,001,818,912 in assets and
EUR1,061,786,417 in debt.  (Parmalat Bankruptcy News, Issue No.
39; Bankruptcy Creditors' Service, Inc., 215/945-7000)


PARMALAT U.S.A.: Farmland Needs US$100 Mln to Exit Chapter 11
-------------------------------------------------------------
A key component of and a condition precedent to Farmland
Dairies, LLC's ability to emerge from Chapter 11 under its Plan
of Reorganization is obtaining a working capital credit facility
or facilities that will provide Reorganized Farmland with the
necessary financing to:

    -- repay its DIP facility,
    -- fund certain payments under the Plan, and
    -- operate its business after the effective date of the
       Plan.

Farmland currently anticipates a $100,000,000 exit financing
facility.  Approximately $55,000,000 of that amount will likely
be provided by one of the potential lenders.

To that end, Farmland's investment banker, Lazard Freres and
Co., LLC, prepared and delivered an informational memorandum and
related diligence materials regarding the Exit Financing to a
number of potential lenders.  Based on those materials, several
potential lenders submitted initial proposals to Lazard.  After
reviewing the proposals, Farmland decided to pursue further
discussions with three potential lenders that provided the most
reasonable offer.  Lazard then conducted management
presentations with each of the potential lenders, and certain of
the potential lenders subsequently submitted revised proposals
to Lazard.  Each of the revised proposals contained terms more
favorable to Farmland than the initial proposals had contained.

As a condition to pursuing the possibility of providing the exit
financing to Farmland, the potential lenders are each seeking
deposits designed to cover the costs of their filed examinations
and certain related preliminary legal due diligence.  The
potential lenders' draft proposal letters generally provide that
any unused deposits will either be returned to Farmland in the
event that a potential lender's internal credit approval to
provide the exit financing is obtained but Farmland fails to
close with that potential lender.  The potential lenders also
require Farmland to pay reasonable fees and out-of-pocket legal
and other expenses as a condition to signing the proposal
letters and the commitment letters.  The fees and expenses
include certain costs, like appraisals, which Farmland could
directly incur.  Farmland believes that the deposit, and the
fees and expenses sought by the potential lenders are typical
for transactions similar to the exit financing and are at market
rates for those types of deposits and fees and expenses.

Accordingly, Farmland sought and obtained the United States
Bankruptcy Court for the Southern District of New York's
authority to pay the deposits and the fees and expenses for up
to three of the potential lenders in an amount not to exceed
$300,000 in the aggregate.

Headquartered in Wallington, New Jersey, Parmalat U.S.A.
Corporation -- http://www.parmalatusa.com/-- generates more
than EUR7 billion in annual revenue.  The Parmalat Group's 40-
some brand product line includes milk, yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.  The company employs over 36,000
workers in 139 plants located in 31 countries on six
continents.  It filed for chapter 11 protection on February 24,
2004 (Bankr. S.D.N.Y. Case No. 04-11139). Gary Holtzer, Esq.,
and Marcia L. Goldstein, Esq., at Weil Gotshal & Manges LLP
represent the Debtors in their restructuring efforts.
On June 30, 2003, the Debtors listed EUR2,001,818,912 in assets
and EUR1,061,786,417 in debt.  (Parmalat Bankruptcy News, Issue
No. 39; Bankruptcy Creditors' Service, Inc., 215/945-7000)


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


AMBER: Kaliningrad Court Opens Bankruptcy Proceedings
------------------------------------------------------
The Arbitration Court of Kaliningrad region commenced bankruptcy
proceedings against Amber after finding the close joint stock
company insolvent.  The case is docketed as A21-4354/03-S2.  Mr.
E. Zinder has been appointed insolvency manager.  Creditors may
submit their proofs of claim to 236000, Russia, Kalinigrad
region, Dm. Donskogo Str. 7, Room 209.

CONTACT:  AMBER
          236002, Russia, Kalinigrad region,
          Transportnyj Tup. 10

          Mr. E. Zinder
          Insolvency Manager
          236000, Russia, Kalinigrad region,
          Dm. Donskogo Str. 7, Room 209
          Phone: 8 (0112) 57-87-50


BREAD RECEIVING: Court Brings in Insolvency Manager
---------------------------------------------------
The Arbitration Court of Orel region commenced bankruptcy
proceedings against Bread Receiving Enterprise after finding the
open joint stock company insolvent.  The case is docketed as
A48-3207/04-17b.  Mr. A. Evseev has been appointed insolvency
manager.  Creditors have until February 17, 2005 to submit their
proofs of claim to 303900, Russia, Orel region, Uritskiy region,
Naryshkino, Revkova Str. 28.

CONTACT:  BREAD RECEIVING ENTERPRISE
          303900, Russia, Orel region,
          Uritskiy region, Naryshkino,
          Revkova Str. 28

          Mr. A. Evseev
          Insolvency Manager
          302004, Russia, Orel region,
          3rd Kurskaya Str. 15, 4th floor

          THE ARBITRATION COURT OF OREL REGION
          302021, Russia, Orel region,
          S. Shedrina Str. 22


CHUCHKOVSKAYA MOVABLE: Proofs of Claim Deadline February 17
-----------------------------------------------------------
The Arbitration Court of Ryazan region commenced bankruptcy
proceedings against Chuchkovskaya Movable Mechanized Column
after finding the open joint stock company insolvent.  The case
is docketed as A54-4399/04-S6.  Mr. A. Androsov has been
appointed insolvency manager.  Creditors have until February 17,
2005 to submit their proofs of claim to 390039, Russia, Ryazan,
Post User Box 269.

CONTACT:  CHUCHKOVSKAYA MOVABLE MECHANIZED COLUMN
          Russia, Ryazan region,
          Chuchkovo, Gracheva Str. 44

          Mr. A. Androsov
          Insolvency Manager
          390039, Russia, Ryazan
          Post User Box 269
          Phone/Fax: (0912) 24-60-73


POLYSTYROL: Under Bankruptcy Supervision
----------------------------------------
The Arbitration Court of Omsk region commenced bankruptcy
supervision procedure on CJSC Polystyrol.  The case is docketed
as K/E-130/04.  Mr. F. Metsler has been appointed temporary
insolvency manager.  Creditors may submit their proofs of claim
to 646905, Russia, Omsk region, Kalachinsk, Cherepova Str. 97.

CONTACT:  POLYSTYROL
          644035, Russia, Omsk region,
          Krasnoyarskiy Trakt, 155

          Mr. F. Metsler
          Temporary Insolvency Manager
          646905, Russia, Omsk region,
          Kalachinsk, Cherepova Str. 97
          Phone: (381-55) 23-374
          Fax: (381-55) 23-374


PORT WORKSHOPS: Insolvency Manager Takes over Helm
--------------------------------------------------
The Arbitration Court of Murmansk region commenced bankruptcy
proceedings against Port Workshops after finding the close joint
stock company insolvent.  The case is docketed as A42-10887/04-
7.  Mr. S. Klimov has been appointed insolvency manager.
Creditors may submit their proofs of claim to the insolvency
manager 183038, Russia, Murmansk region, Shmidta Str. 43.

CONTACT: PORT WORKSHOPS
          183024, Russia, Murmansk region,
          Portovyj Pr. 19

          Mr. S. Klimov
          Insolvency Manager
          183038, Russia, Murmansk region,
          Shmidta Str. 43


PRAVDINSKAYA OIL: Claims Period Expires Mid-February
----------------------------------------------------
The Arbitration Court of Khanty-Mansiyskiy autonomous region -
Yugra commenced bankruptcy proceedings against Pravdinskaya Oil-
Gas-Exploring Expedition after finding the close joint stock
company insolvent.  The case is docketed as A75-87-B/03-47-B/04.
Mr. A. Rupchev has been appointed insolvency manager.  Creditors
have until February 17, 2005 to submit their proofs of claim to
628520, Russia, Khanty-Mansiyskiy region-Yugra, Khanty-
Mansiyskiy region, Gornopravdinsk, Lenina Str. 16A.

CONTACT:  PRAVDINSKAYA OIL-GAS-EXPLORING EXPEDITION
          628520, Russia,
          Khanty-Mansiyskiy autonomous region-Yugra,
          Khanty-Mansiyskiy region,
          Gornopravdinsk, Lenina Str. 16A

          Mr. A. Rupchev
          Insolvency Manager
          628520, Russia,
          Khanty-Mansiyskiy autonomous region-Yugra,
          Khanty-Mansiyskiy region,
          Gornopravdinsk, Lenina Str. 16A


SERGIEVSK-AUTO-TRANS: Succumbs to Insolvency
--------------------------------------------
The Arbitration Court of Samara region commenced bankruptcy
proceedings against Sergievsk-Auto-Trans (TIN 6381000022, KPP
638101001) after finding the open joint stock company insolvent.
The case is docketed as A55-5265/2004-47.  Mr. V. Mozharov has
been appointed insolvency manager.  Creditors may submit their
proofs of claim to 446086, Russia, Samara region, Novo-Sadovaya
Str. 175.

CONTACT:  SERGIEVSK-AUTO-TRANS
          443000, Russia, Samara region
          Sergievskiy region, Sukhodol,
          Skvoznaya Str. 31

          Mr. V. Mozharov
          Insolvency Manager
          446086, Russia, Samara region,
          Novo-Sadovaya Str. 175
          Phone: (8462) 354-840


STAROBUYANSKOYE: Applies for Bankruptcy Proceedings
---------------------------------------------------
The Arbitration Court of Samara region commenced bankruptcy
proceedings against Starobuyanskoye after finding the open joint
stock company insolvent.  The case is docketed as A55-3234/04-
33.  Mr. V. Aldebenev has been appointed insolvency manager.
Creditors have until February 17, 2005 to submit their proofs of
claim to 443100, Russia, Samara region, Lesnaya Str. 9, 3rd
Floor

CONTACT:  STAROBUYANSKOYE
          446376, Russia, Samara region,
          Krasnoyarsk region, Stary Buyan

          Mr. V. Aldebenev
          Insolvency Manager
          443100, Russia, Samara region,
          Lesnaya Str. 9, 3rd Floor


SURGUT-ZHIL-STROY: Claims Deadline Third Week of February
---------------------------------------------------------
The Arbitration Court of Khanty-Mansiyskiy autonomous region
commenced bankruptcy proceedings against SURGUT-ZHIL-STROY after
finding the open joint stock company insolvent.  The case is
docketed as A75-193-B/04.  Mr. A. Drozdetskiy has been appointed
insolvency manager.  Creditors have until February 17, 2005 to
submit their proofs of claim to 628426, Russia, Tyumen region,
Surgu-26, Nefteyuganskoye Shosse, 8.

CONTACT:  Mr. A. Drozdetskiy
          Insolvency Manager
          628426, Russia, Tyumen region,
          Surgu-26, Nefteyuganskoye Shosse, 8
          Phone: (3462) 45-76-90


TEPLO-PRIBOR: Court Appoints Insolvency Manager
-----------------------------------------------
The Arbitration Court of Novosibirsk region commenced bankruptcy
proceedings against Teplo-Pribor (TIN 5446101982) after finding
the open joint stock company insolvent.  The case is docketed as
A45-11529/04-SB/141.  Mr. A. Tyutyunnik has been appointed
insolvency manager.  Creditors have until February 17, 2005 to
submit their proofs of claim to 633564, Russia, Novosibirsk
region, Maslyanino, Bazarnaya Str. 2.

CONTACT:  TEPLO-PRIBOR
          633209, Russia, Novosibirsk region,
          Iskitim, Pushkina Str. 20

          Mr. A. Tyutyunnik
          Insolvency Manager
          633564, Russia, Novosibirsk region,
          Maslyanino, Bazarnaya Str. 2
          Phone: 8-383-47-23-628
          Fax: 8-383-47-23-628


YUKOS OIL: Money Laundering Added to Khodorkovsky's Charge Sheet
----------------------------------------------------------------
Prosecutors have indicted former Yukos CEO Mikhail Khodorkovsky
for money laundering, Isar-Tass says.

Henrich Padva, Mr. Khodorkovsky's lawyer, said Friday the new
charge surprised both the jailed billionaire and his attorneys.
Menatep's CEO Platon Lebedev was also included in the
indictment.

Aside from money laundering charges, Mr. Khodorkovsky is also
facing several cases related to the collapse of fuel giant Yukos
Oil.  The Meschansky district court is trying these cases, which
count as defendants Mr. Khodorkovsky, Mr. Lebedev and Andrei
Krainov.  The three stand accused of fraud, massive tax evasion
and stealing of 20% of Apatit's shares.

CONTACT:  OAO NK YUKOS
          31A, Dubininskaya St.
          115054 Moscow, Russia
          Phone: +7-95-232-3161
          Fax: +7-95-232-3160
          Web site: http://www.yukos.com

          Investor Relations
          Alexander Gladyshev
          Phone: +7 095 788 00 33
          E-mail: investors@yukos.ru

          Press Service
          Alexander Shadrin
          Phone: +7 095 785-08-55
          E-mail: pr@yukos.ru

          International Information Department
          Hugo Erikssen
          Phone: + 7 095 540-63-13
          E-mail: inter@yukos.ru


===========
T U R K E Y
===========


DOGUS HOLDING: Ratings Off Watch on Improved Business Health
------------------------------------------------------------
Standard & Poor's Ratings Services removed its 'B-/C'
counterparty credit ratings on Turkey-based Dogus Holding A.S.
from CreditWatch, where they were placed on Aug. 27, 2004.  At
the same time, the ratings on Dogus Holding were raised to
'B/B'.

In addition, Standard & Poor's raised its long-term counterparty
credit ratings on Turkiye Garanti Bankasi A.S. (Garanti) and
Garanti Finansal Kiralama A.S. (Garanti Leasing) to 'BB-' from
'B+'.  The 'B' short-term counterparty credit rating on Garanti
Leasing has been affirmed.  The outlook on the three
institutions is stable.

"The rating upgrade of Dogus Holding reflects the group's
improved liquidity position, and management's commitment to
further extend its debt maturity profile and reduce leverage,"
said Standard & Poor's credit analyst Emmanuel Volland.  In
2004, the group has successfully refinanced and repaid its
short-term debt maturities, owing mainly to the rollover of
certain bank facilities, as well as a reduction of its stakes in
the banking and automotive sectors.  The group sold about 9.3%
of Garanti's share capital and a 6.2% stake in Tansas to foreign
investors in 2004 for a total value of about $295 million.

"The rating action also reflects the underlying improvement in
Dogus' controlled entities, most notably Garanti's enhanced
credit quality in line with the strong performance of the
Turkish economy," he added.  This supportive environment and
management's focus on operating efficiency is also benefiting
profitability across Dogus' non-financial businesses, which
comprise automotive distribution, food retail, construction,
tourism, and media.

The rating actions on Garanti and Garanti Leasing are a direct
consequence of the rating upgrade of Dogus Holding.  They also
take into account Garanti's improving financial profile in line
with the strengthening economic environment.  As one of the
leading banks in Turkey, it is expected to continue to benefit
from increasing business volume.  This should allow it to
continue to improve its efficiency, profitability, and
capitalization.

"The stable outlook on Dogus Holding reflects the expectations
that the group will continue to actively seek a further debt
maturity extension and debt reduction through a combination of
asset disposals, dividends, and recourse to the capital
markets," said Mr. Volland.  The successful issue of medium-term
debt will improve its debt maturity profile and the group's
liquidity.  Non-core real estate assets, worth about $100
million at group level also provide some financial flexibility.
Dogus' tender (as a consortium's participant) of the Turkish
automotive inspection concession business is not expected to
have an impact on Dogus' liquidity as the acquisition should be
financed through a newly created company with no recourse to
shareholders.

Ratings information is available to subscribers of
RatingsDirect, Standard & Poor's Web-based credit analysis
system, at http://www.ratingsdirect.com. It can also be found
at http://www.standardandpoors.com. Alternatively, call one of
the following Standard & Poor's numbers: London Ratings Desk
(44) 20-7176-7400; London Press Office Hotline (44) 20-7176-
3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225;
Stockholm (46) 8-440-5916; or Moscow (7) 095-783-4017. Members
of the media may also contact the European Press Office via e-
mail: media_europe@standardandpoors.com.

CONTACT:  STANDARD & POOR'S
          GROUP E-MAIL ADDRESS
          FIG_Europe@standardandpoors.com


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


ALCHEVSK' AUTO 10915: Temporary Insolvency Manager Comes in
-----------------------------------------------------------
The Economic Court of Lugansk region commenced bankruptcy
supervision procedure on OJSC Alchevsk' Auto Transport
Enterprise-10915 (code EDRPOU 03113242).  The case is docketed
as 22/14 b.  Mr. Oleksandr Mamrukov (License Number AA 783183)
has been appointed temporary insolvency manager.  The company
holds account number 26003301180064 at Prominvestbank, Alchevsk
branch, MFO 304342.

Creditors may submit their proofs of claim to:

(a) ALCHEVSK' AUTO TRANSPORT ENTERPRISE-10915
    94200, Ukraine, Lugansk region,
    Alchevsk, Tranzitna Str. 27

(b) Mr. Oleksandr Mamrukov
    Temporary Insolvency Manager
    Ukraine, Lugansk region,
    Cheluskintsiv Str. 143-A/76

(c) ECONOMIC COURT OF LUGANSK REGION
    91000, Ukraine, Lugansk region,
    Geroiv VVV Square, 3a


ALISAR: Insolvency Manager Takes over Operations
------------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Alisar (code EDRPOU 31157331) on December 2,
2004 after finding the limited liability company insolvent.  The
case is docketed as 78/11 b-04.  Arbitral manager Mr. Andrij
Bondar has been appointed liquidator/insolvency manager.  The
company holds account number 26005210477980 at Bank Finances and
credit, Kyiv regional branch, MFO 300937.

CONTACT:  ALISAR
          07100, Ukraine, Kyiv region,
          Slavutich, Kyivskij Quarter, 31/1

          Mr. Andrij Bondar
          Liquidator/Insolvency Manager
          01110, Ukraine, Kyiv region, a/b 14

          ECONOMIC COURT OF KYIV REGION
          01033, Ukraine, Kyiv region,
          Zhelyanska Str. 58 b


AUTO TRANSPORT 2101: Under Bankruptcy Supervision
-------------------------------------------------
The Economic Court of Herson region commenced bankruptcy
supervision procedure on OJSC Specialized Auto Transport
Enterprise-2101 (code EDRPOU 05396706) on November 9, 2004.  The
case is docketed as 61268-B.  Arbitral manager Mr. E. Pirozhok
(License Number AA 419249) has been appointed temporary
insolvency manager.  The company holds account number 260062961
at JSPPB Aval, Herson regional branch, MFO 352093.

Creditors may submit their proofs of claim to:

CONTACT:  ECONOMIC COURT OF HERSON REGION
          73000, Ukraine, Herson region,
          Gorkij Str. 18


DARNITSKIJ VAN: Falls into Bankruptcy
-------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
supervision procedure on State Enterprise Darnitskij Van-Repair
Plant (code EDRPOU 14294471).  The case is docketed as 24/342-b.
Arbitral manager Mr. Parhatskij Mikola (License Number AA
250193) has been appointed temporary insolvency manager.  The
company holds account number 26002000680 at JSB Express-Bank,
Kyiv region branch, MFO 322959.

Creditors may submit their proofs of claim to:

(a) STATE ENTERPRISE DARNITSKIJ VAN-REPAIR PLANT
    02092, Ukraine, Kyiv region,
    Alma-Atinska Str. 74

(b) Mr. Parhatskij Mikola
    Temporary Insolvency Manager
    04060, Ukraine, Kyiv region, a/b 19

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


ENERGOREZERV: Court Names Temporary Insolvency Manager
------------------------------------------------------
The Economic Court of Poltava region commenced bankruptcy
supervision procedure on LLC Energorezerv (code EDRPOU
30566185).  The case is docketed as 7/137.  Arbitral manager Mr.
Borovik Ruslan (License Number AA 783249) has been appointed
temporary insolvency manager.  The company holds account number
26005176353001 at CB Privatbank, Kremenchuk branch, MFO 331531.

Creditors may submit their proofs of claim to:

(a) ENERGOREZERV:
    Ukraine, Poltava region,
    Kremenchuk, Moskovska Str. 18/43

(b) Mr. Borovik Ruslan
    Temporary Insolvency Manager
    Ukraine, Poltava region,
    Roza Luksenburg Str. 36/2

(c) ECONOMIC COURT OF POLTAVA REGION
    36000, Ukraine, Poltava region,
    Zigina Str. 1


FERMER: Urges Creditors to File Claims
--------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
supervision procedure on CJSC Fermer (code EDRPOU 25485628).
The case is docketed as 19/176(04).  Mrs. N. Chursina (License
Number AA 783018) has been appointed temporary insolvency
manager.  The company holds account number 26001184801 at JSB
Metalurg, Zaporizhya branch, MFO 313582.

Creditors may submit their proofs of claim to:

(a) FERMER
    69000, Ukraine, Zaporizhya region,
    Fonvizin Str. 8

(b) Mrs. N. Chursina
    Temporary Insolvency Manager
    72319, Ukraine, Zaporizhya region,
    Melitopol, a/b 6

(c) ECONOMIC COURT OF ZAPORIZHYA REGION
    69001, Ukraine, Zaporizhya region,
    Shaumyana Str. 4


GEO-VIT: Bankruptcy Supervision Starts
--------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
supervision procedure on LLC Geo-Vit (code EDRPOU 30683600)
The case is docketed as 15/555-B.  Arbitral manager Mr.
Volodimir Bakumenko (License Number AA 719796) has been
appointed temporary insolvency manager.  The company holds
account number 2600300013325 at OJSC CB Hreshatik.

Creditors may submit their proofs of claim to:

(a) GEO-VIT
    04073, Ukraine, Kyiv region,
    Chervonih Kozakiv Avenue, 8

(b) Mr. Volodimir Bakumenko
    Temporary Insolvency Manager
    04116, Ukraine, Kyiv region,
    Dovnar-Zapolskij Str. 4/82

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


LIFTSERVICE: Zaporizhya Court Launches Bankruptcy Proceedings
-------------------------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against Liftservice (code EDRPOU 03361143) on
November 11, 2004 after finding the open joint stock company
insolvent.  The case is docketed as 19/93(04).  Arbitral manager
Mr. O. Klimenko (License Number AA 783152) has been appointed
liquidator/insolvency manager.

Creditors may submit their proofs of claim to:

(a) LIFTSERVICE
    69035, Ukraine, Zaporizhya region,
    Kamyanij Lane, 8

(b) ECONOMIC COURT OF ZAPORIZHYA REGION
    69001, Ukraine, Zaporizhya region,
    Shaumyana Str. 4


SMACHNIJ HLIB: Files for Liquidation
------------------------------------
The Economic Court of Poltava region commenced bankruptcy
proceedings against Smachnij Hlib (code EDRPOU 32543898) on
September 28, 2004 after finding the state-owned company
insolvent.  The case is docketed as 8/256.  Mr. Oleksij Krivonos
(License Number AA 719784) has been appointed
liquidator/insolvency manager.  The company holds account number
260063988 at JSB Poltava-Bank, MFO 331489.

Creditors may submit their proofs of claim to:

(a) SMACHNIJ HLIB
    38160, Ukraine, Poltava region,
    Zinkivskij district, Batki

(b) ECONOMIC COURT OF POLTAVA REGION
    36000, Ukraine, Poltava region,
    Zigina Str. 1


TARPAN: Undergoes Bankruptcy Supervision Procedure
--------------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
supervision procedure on LLC Agrofirm Tarpan (code EDRPOU
30450215) on November 8, 2004.  The case is docketed as 19/194.
Mr. V. Rabushko (License Number AA 719883) has been appointed
temporary insolvency manager.  The company holds account number
26006004107001 at JSB Munitsipalnij, MFO 313537.

Creditors may submit their proofs of claim to:

(a) TARPAN
    72564, Ukraine, Zaporizhya region,
    Yakimivskij district, Azovske, Lenin Str. 14

(b) ECONOMIC COURT OF ZAPORIZHYA REGION
    69001, Ukraine, Zaporizhya region,
    Shaumyana Str. 4


ZNAMYANSKIJ FOOD: Declared Insolvent
------------------------------------
The Economic Court of Kirovograd region commenced bankruptcy
proceedings against Znamyanskij Food Products Plant (code EDRPOU
05400313) on November 23, 2004 after finding the open joint
stock company insolvent.  The case is docketed as 9/207.  Mr.
Irina Knobloh (License Number AA 719895) has been appointed
liquidator/insolvency manager.

CONTACT:  ZNAMYANSKIJ FOOD PRODUCTS PLANT
          27400, Ukraine, Kirovograd region,
          Znamyanka, Musorgskij Str. 17

          THE ECONOMIC COURT OF KIROVOGRAD REGION
          25006, Ukraine, Kirovograd region,
          Lunacharski Str. 29


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


BLAKE FINANCE: Calls Final General Meeting
------------------------------------------
Notice is hereby given, pursuant to section 94 of the Insolvency
Act 1986, that the Final Meeting of Members of Blake Finance
Limited will be held at the offices of PricewaterhouseCoopers
LLP, Plumtree Court, London EC4A 4HT, on 21 February 2005 at
10:30 a.m., for the purpose of having an account laid before the
Members showing how the winding-up has been conducted and the
property of the Company disposed of, and hearing any explanation
that may be given by the Liquidator.  A Member entitled to
attend and vote at the Meeting may appoint a proxy, who need not
be a Member, to attend and vote instead of him or her.

R Setchim, Joint Liquidator
14 January 2005

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


BOXCLEVER: Talks Between WestLB, U.S. Buyers Enter Homestretch
--------------------------------------------------------------
The sale of BoxClever to a U.S. private equity consortium is
reportedly a done deal.

According to local daily, This is London, negotiations between
BoxClever's German owner WestLB and U.S. investors Cerberus
Capital and Fortress Investment Group are "very far advance."  A
WestLB insider even added a confirmation is "imminent."

The U.S. buyers are reportedly offering EUR200 million for
U.K.'s largest rental chain, a paltry sum considering the
company's previous stature.  During its heyday BoxClever had
annual revenues of GBP700 million (US$1 billion) and operated
900 stores under three brands -- Radio Rentals, Granada and Box
Clever.  At one time, it employed 9,000 staff and served more
than 2.3 million customers.

WestLB, however, is intent on pursuing the deal even if it
translates to a loss of EUR600 million, according to a separate
report by German newspaper, Sueddeutsche.  To recall, the German
bank blamed BoxClever for its EUR1.3 billion loss in 2002, the
year a GBP750 million financing deal it arranged for BoxClever
unraveled.  This triggered a regulatory probe on its Principal
Finance Unit that remains unresolved to this day.

BoxClever is controlled by WestLB and bondholders French bank
CDC IXIS and Canadian Imperial Bank of Commerce.  Granada
Rentals and Radio Rentals merged to form BoxClever in 1999.

CONTACT:  BOXCLEVER
          Technology House
          Ampthill Road
          Bedford
          MK42 9QQ
          United Kingdom
          Phone: (01234) 355233
          Fax: (01234) 226090
          Web site: http://www.boxclever.co.uk


BRITISH ENERGY: Resumes Trading on London Bourse
------------------------------------------------
                   Restructuring Update

British Energy Re-lists

Trading in British Energy Group plc's New Shares and Warrants,
and in British Energy Holdings plc's New Bonds resumed on the
London Stock Exchange Monday morning following the successful
completion of the restructuring of British Energy group.

Certain minor amendments to the conditions of the Warrants
contained in the prospectus are set out in Appendix of this
announcement.  This announcement is not an offer for securities
for sale in the United States.  Securities may not be offered or
sold in the United States absent registration or an exemption
from registration under the Securities Act of 1933, as amended.
Any public offering of securities in the United States will be
made by means of a prospectus that may be obtained from the
issuer or selling security holder and that will contain detailed
information about the company and management, as well as
financial statements.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Appendix

Amendments to the conditions of the Warrants

Certain minor amendments to the Conditions of the Warrants which
were set out in the prospectus of British Energy Group plc have
been made including the insertion of Condition 4.10A as:

"Whenever the Subscription Price is adjusted in accordance with
this Condition 4 by reason of a consolidation of the share
capital of the Company as referred to in paragraph 4.1.1 the
number of Ordinary Shares for which a Warrantholder is entitled
to subscribe shall be decreased at the same time as such
adjustment takes effect.  The number of Ordinary Shares to which
a Warrantholder shall be entitled shall be reduced by a number
equal to the product of the number of existing Ordinary Shares
for which that Warrantholder is entitled to subscribe at the
date that the adjustment to the Subscription Price takes effect
and before adjustment pursuant to this Condition 4.10A
multiplied by these fraction:

                                 Y - X
                                 -------
                                 Y

Where:

X = is the Subscription Price immediately before the adjustment;
and
Y = is the Subscription Price immediately after the adjustment.


"For the avoidance of doubt, the adjustment contemplated by this
Condition 4.10A shall be effected by deducting from the number
of Ordinary Shares for which a Warrantholder would be entitled
to subscribe immediately prior to such adjustment, the number of
Ordinary Shares resulting from the foregoing calculations."
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

NOT FOR DISTRIBUTION INTO AUSTRALIA, CANADA, GERMANY, ITALY,
JAPAN AND THE UNITED STATES.

CONTACT:  BRITISH ENERGY PLC
          Andrew Dowler
          Phone: 020 7831 3113
          (Media Enquiries)
          John Searles
          Phone: 01506 408 715
          (Investor Relations)


BRITISH ENERGY: S&P Lifts 'SD' Rating on Defaulted Bonds
--------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' long-term
corporate credit rating to U.K.-based British Energy Holdings
PLC (BEH), the new parent company of the British Energy group.
The outlook is stable.

Standard & Poor's also assigned its 'BB' senior unsecured debt
rating to BEH's new GBP550 million of bonds due 2005-2022, which
replace the group's existing bonds.  At the same time, Standard
& Poor's raised the existing ratings on BEH's subsidiary British
Energy PLC (BE) to 'BB+' from 'SD'.  The outlook is stable.

The 'D' ratings on the existing GBP408 million defaulted bonds
issued at that entity were withdrawn, due to their replacement
by the new bonds.  The rating actions follow the formal approval
and enactment of the British Energy group's restructuring plan.

"The ratings on BEH reflect the exposure of the company's cash
flows to volatile electricity prices and the risk of unplanned
outages, weaker than expected operational performance, its
market position as a price-taker in the wholesale power market,
and the weak forecast cash flow coverages for fiscal 2005 and
2006," said Standard & Poor's credit analyst Paul Lund.  "These
risks are offset to an extent by good liquidity, supportive
covenants, new fuel supply agreements that provide a partial
hedge against low electricity prices, and an improvement in
base-load wholesale power prices."

The senior unsecured debt rating is one notch below the
corporate credit rating, and reflects the presence of other
secured creditors that would take precedence in recovery after a
default, including secured lenders to Eggborough Power Ltd., a
receivables purchase facility, and the Nuclear Liabilities Fund.

"We expect the group's cash flows to be supported by sustainable
power prices and the return to more normal production levels
from fiscal 2006," added Mr. Lund.  "We have not factored in any
benefit that may arise from the capital expenditure plans
intended to improve plant performance.  Furthermore, we are
conscious that any raising of the rating will lead to the
disappearance of covenants requiring a minimum cash balance of
GBP290 million, which may be detrimental to liquidity."

Standard & Poor's is unlikely to consider raising the rating
unless wholesale power prices and operational performance
improve and remain sustainable in the medium to long term.

Ratings information is available to subscribers of
RatingsDirect, Standard & Poor's Web-based credit analysis
system, at http://www.ratingsdirect.com. It can also be found
at http://www.standardandpoors.com.Alternatively, call one of
the following Standard & Poor's numbers: London Ratings Desk
(44) 20-7176-7400; London Press Office Hotline (44) 20-7176-
3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225;
Stockholm (46) 8-440-5916; or Moscow (7) 095-783-4017.  Members
of the media may also contact the European Press Office via e-
mail: media_europe@standardandpoors.com.

CONTACT:  STANDARD & POOR'S
          GROUP E-MAIL ADDRESS
          InfrastructureEurope@standardandpoors.com


BRITISH ENERGY: New GBP550 Million Bonds Rated 'BB-'
----------------------------------------------------
Fitch Ratings assigned British Energy Holding plc's (BEH) issue
of GBP550 million bonds due 2022 a 'BB-' (BB minus) rating.  The
new bonds are guaranteed jointly and severally by the issuer and
its major subsidiaries.  They will amortize annually on 31 March
commencing in 2005.

At the same time, Fitch has assigned a Senior Unsecured rating
of 'BB-' (BB minus) to BEH.  BEH is owned by British Energy
Group plc (BEG), the ultimate holding company of the newly
restructured British Energy group.  The bond issue marks the
conclusion of a restructuring process that commenced in Q4 2002.
The schemes of arrangement have on Monday received court
approval, which renders the creditors' restructuring agreement
effective.

As a consequence, the new bonds will be issued to the creditors
of British Energy plc (GBP275 million), and a new Nuclear
Liabilities Fund (NLF) (GBP275 million), which will assume
certain of BEH's long-term funding obligations in respect of
decommissioning and fuel reprocessing.

There is also a credit agreement between Eggborough Power
Limited, the ring-fenced subsidiary and owner of BEH's coal-
fired capacity, which provides for payments equivalent to a
further GBP150 million of new bonds.  In addition to the new
bonds and equivalents, the existing creditors of the group will
receive 97.5% of equity in the new group and the NLF will
receive a proportion of net cash-flow-before-dividends.

The rating takes into account BEH's operational profile,
including the high cost base relative to historic trough
pricing, and the costs of competing sources of generation.
Further operating risk arises from the challenges the business
faces in respect of plant availability and load levels.
Liquidity risk arises from the group's trading arrangements,
which require collateral deposit and a fixed amortization
profile for the debt.  However, its new business arrangements
with British Nuclear Fuels Limited mean that its operations now
have greater fuel cost flexibility at low wholesale pricing.

From a financial structure perspective, payments under the bonds
are subordinated to future committed facilities, and recovery
levels under any future stress scenarios are expected to be low.
Following the restructuring, the group will maintain a cash
balance of some GBP500 million, which is substantial relative to
the new debt.  This balance will be used to support existing
trading arrangements and also provide for volatility in working
capital requirements.  A significant proportion of this
liquidity is anticipated to be restricted as collateral for
trading arrangements going forward, however, the group will have
low overall financial leverage when considering net debt
unadjusted for collateral cash.

Future upward movements in the rating may be linked, inter alia,
to operational cost improvements, greater certainty in medium-
term price realizations (effected by related hedge or
contractual arrangements), approved plant life extensions and a
reduction of gross debt per MW.

The rating is in line with a previous rating assessment
(published 23 September 2004) of the restructuring.  For more
information, please refer to the special report of the rating
assessment, which is available on the agency's Web site at
http://www.fitchratings.com.

CONTACT:  FITCH RATINGS
          Isaac Xenitides, London
          Phone: +44 (0)207 417 4300
          Andrew Steel
          Phone: +44 (0)207 862 4086

          Media Relations
          Alex Clelland, London
          Phone: +44 20 7862 4084


BRUCE HOUSE: Creditors to Take up Liquidation Proposal Tomorrow
---------------------------------------------------------------
A meeting of creditors of Bruce House Day Nursery Limited will
be held at the offices of Begbies Traynor, The Old Exchange, 234
Southchurch Road, Southend-on-Sea, Essex SS1 2EG, on Thursday 20
January 2005, at 11:30 a.m. to nominate a liquidator and appoint
a liquidation committee.

Proxy forms to be used for the purposes of the Meeting must be
lodged, accompanied by statements of claim, at the registered
office of the Company situated at The Old Exchange, 234
Southchurch Road, Southend-on-Sea, Essex SS1 2EG, no later than
12:00 noon on 19 January 2005.

Louise Donna Baxter of Begbies Traynor, The Old Exchange, 234
Southchurch Road, Southend-on-Sea, Essex SS1 2EG, is qualified
to act as an Insolvency Practitioner in relation to the Company,
and will furnish Creditors, free of charge, with such
information concerning the Company's affairs as they may
reasonably require.

CONTACT:  BEGBIES TRAYNOR
          The Old Exchange
          234 Southchurch Road
          Southend-on-Sea SS1 2EG
          Phone: 01702 467255
          Fax: 01702 467201
          E-mail: southend@begbies-traynor.com
          Web site: http://www.begbies.com


CABLE & WIRELESS: Appoints Two New Non-executive Directors
----------------------------------------------------------
Cable and Wireless plc announces the appointment of Kate Nealon
and Agnes Touraine as non-executive directors.

Kate Nealon, 51, is currently a non-executive director at HBOS
plc, the U.K.'s largest mortgage bank, and a non-executive
director of Monitor, the independent regulator of the NHS
Foundation trusts.

She previously worked for Standard Chartered, an emerging
markets bank with global operations based in the U.K., as group
head of legal and compliance from 1992 to 2004.  A U.S.-
qualified lawyer, she has practiced international banking and
regulatory law in New York.

Agnes Touraine, 49, was chairman and chief executive of Vivendi
Universal Publishing, the world's third-largest producer of
consumer publications, from 2000-2003.  Having started her
career as a consultant with McKinsey & Co, Agnes held senior
strategy planning and management positions within the Lagardere
Group before joining Vivendi Universal Publishing (formerly
Havas).

She founded Act III Consultants, a management consulting firm,
after leaving Vivendi Universal Publishing at the end of 2003.
She is a non-executive director of lastminute.com plc and a
board member of Fondation de France.

Both appointments take effect from January 18, 2005.

Cable & Wireless chairman Richard Lapthorne said: "I am
delighted that [Ms. Nealon and Ms. Touraine] are bringing their
skills and experience in international business to Cable and
Wireless.  Both bring excellent track records of achievement at
the highest levels of management.  They add to our strengths in
their combination of international business experience with
their understanding and knowledge of the particular roles of
non-executive directors.  These appointments further broaden the
skills of our board."

The existing Cable & Wireless Board comprises

Chairman: Richard Lapthorne

Deputy Chairmen:  Lord Robertson of Port Ellen GCMG; Robert
                  Rowley.

CEO: Francesco Caio

CFO: Charles Herlinger

Executive Director, International Businesses: Harris Jones

Group Human Resources Director: George Battersby

Senior non-executive director: Graham Howe

Non-executive Directors: Bernard Gray, Anthony Rice, Kasper
Rorsted

CONTACT:  CABLE & WIRELESS
          Investor Relations:
          Louise Breen
          Director, Investor Relations
          Phone: +44 20 7315 4460
          Craig Thornton,
          Manager, Investor Relations
          Phone: +44 20 7315 6225
          Virginia Porter
          VP, Investor Relations and Assoc. General Counsel
          Phone: 001 212 551 3563

          Media:
          Lesley Smith
          Director Corporate Affairs
          Phone: +44 20 7315 4410

          Steve Double
          Group Head of Media Communications
          Phone: +44 20 7315 6759

          Peter Eustace
          Head of Media Relations
          Phone: +44 20 7315 4495


CAPITAL STRATEGIES: Liquidator's Final Report Out Next Month
------------------------------------------------------------
Notice is hereby given, pursuant to section 94 of the Insolvency
Act 1986, that a Final Meeting of the Members of Capital
Strategies Limited will be held at the offices of Grant Thornton
UK LLP, Grant Thornton House, Melton Street, Euston Square,
London NW1 2EP, on 17 February 2005, at 11:30 a.m., for the
purpose of having an account laid before them by the Joint
Liquidators showing the manner in which the winding-up of the
Company has been conducted and the property of the Company
disposed of, and of hearing any explanation that may be given by
the Joint Liquidators.

A Member entitled to attend and vote at the above Meeting may
appoint a proxy to attend and vote in his place.  It is not
necessary for the proxy to be a Member.  Proxy forms must be
returned to the offices of Grant Thornton UK LLP, Grant Thornton
House, Melton Street, Euston Square, London NW1 2EP, by not
later than 12.00 noon on 16 February 2005.

M G Ellis, Joint Liquidator
7 January 2005

CONTACT:  GRANT THORNTON U.K. LLP
          Grant Thornton House
          Melton Street
          Euston Square
          London NW1 2EP
          Phone: 020 7383 5100
          Fax: 020 7383 4715
          Web site: http://www.grant-thornton.co.uk


CARRIER LIMITED: Creditors Meeting Set Next Week
------------------------------------------------
A meeting of the creditors of Carrier (Cabinet Makers) Limited
will be held at Tenon Recovery, on 24 January 2005, at 2:30
p.m., for the purposes mentioned in sections 99 to 101 of the
Insolvency Act of 1986.

Creditors wishing to vote at the Meeting must lodge their proxy,
together with a full statement of account, at the registered
office, Tenon Recovery, Highfield Court, Tollgate, Chandlers
Ford, Hampshire SO53 3TZ, not later than 12:00 noon on the
business day preceding the Meeting.

For the purposes of voting, a secured Creditor is required
(unless he surrenders his security) to lodge at Tenon Recovery,
Highfield Court, Tollgate, Chandlers Ford, Hampshire SO53 3TZ,
before the Meeting, a statement giving particulars of his
security, the date when it was given and the value at which it
is assessed.

Notice is further given that a list of the names and addresses
of the Company's Creditors may be inspected, free of charge, at
Tenon Recovery, Highfield Court, Tollgate, Chandlers Ford,
Hampshire SO53 3TZ, between 10:00 a.m. and 4:00 p.m. on the two
business days preceding the date of the Meeting.

CONTACT:  TENON RECOVERY
          Highfield Court, Tollgate, Chandlers Ford,
          Eastleigh, Hampshire SO53 3TZ
          Phone: 023 8064 6464
          Fax: 023 8064 6666
          E-mail: southampton@tenongroup.com
          Web site: http://www.tenongroup.com


DAWSON HOLDINGS: Interim Results Match Expectations
---------------------------------------------------
At the AGM of Dawson Holdings PLC on January 17, 2005, the
Chairman provided these updates:

Trading

Trading so far this financial year has matched the trends we
anticipated.  At Dawson News, turnover growth is more modest
than last year as the newspaper cover price rises in 2003 no
longer impact annual comparisons.  The relative strength of
weekly magazine titles and the softer trading of monthly titles
have continued.  Recently announced cover price increases by
newspaper publishers and the strength of partworks plus new
product launches are encouraging.

Dawson Books continues to make progress in the U.K. but export
sales are still affected by the weakness of the U.S. dollar.
The acquisition of the airline supply business in Frankfurt by
Dawson Media Direct has been in line with expectations and is
making the anticipated profit contribution.  The strategic
review of Dawson Marketing Services is in hand.  A further
update will be provided with our Interim Results in May.

The Board believes that the strategy of investing in organic
growth for core activities and a careful acquisition policy
remains the best way of delivering steady continuous shareholder
value.

Dividends

Following strong interest in having the option to take dividend
in the form of shares, appropriate arrangements to offer this
facility with the Interim Dividend later this year will be put
in place.

Executive Share Ownership

As set out in the notice of the Annual General Meeting, at the
meeting a resolution requesting approval of the scheme to
encourage executive share ownership will be proposed.  The
Remuneration Committee will be limiting the annual issue to
20,000 shares per individual.

Donations

In the wake of the tragic events in Asia the Company has
organized facilities for staff donations to be contributed to a
tax efficient fund.  The Company will match staff donations.

Board

The EGM held on 22 November 2004 passed the resolution to allow
Peter Brown to continue as Chairman until a replacement was
appointed.  External advisers have now been appointed to ensure
that the board has the widest possible range of candidates.

CONTACT:  DAWSON HOLDINGS PLC
          City Profile Group
          David Blundell, Chief Executive
          Simon Courtenay
          David Lowther, Group Finance Director
          Phone: 020-7448-3244
                 020-8774-3000
          Web site: http://www.dawson.co.uk


DECORATIVE INDUSTRIES: Business for Sale
----------------------------------------
The joint administrators offer for sale the business and assets
of Decorative Industries, a Northhampton-based nail polish
manufacturer.

Principal features:

(a) Turnover of around GBP1.6 million;

(b) Freehold production premises, with underground storage
    tanks and pumping facility;

(c) Dedicated workforce;

(d) Warehouse and filling facilities; and

(e) Range of mixing, filling and labeling plant.

CONTACT:  PHILLIP DAVIES & SONS
          Phone: 0207 336 6959
          Fax: 0207 336 6968
          E-mail: pjd@pdsauctioneers.com
          Web site: http://www.pdsauctioneers.co.uk


DEDICATED DISTRIBUTION: PricewaterhouseCoopers Takes over Helm
--------------------------------------------------------------
The High Court of Justice of Birmingham appointed joint
administrators for contract warehousing and logistics company
Dedicated Distribution Services Limited in December.  The
administrators are David Langton and Mark Shires of
PricewaterhouseCoopers LLP.

CONTACT:  DEDICATED DISTRIBUTION SERVICES LIMITED
          4 Pavilion Court, 600 Pavilion Drive, Brackmills,
          Northampton
          NN4 7SL

          PRICEWATERHOUSECOOPERS LLP
          Exchange House, Midsummer Boulevard
          Central Milton Keynes MK9 2DF
          Contact:
          David Langton, Administrator

          PRICEWATERHOUSECOOPERS LLP
          Pegasus Business Park, Castle Donington, East Midlands
          DE74 2UZ
          Contact:
          Mark Shires, Administrator


DHE HOLDINGS: Receivers Call Meeting of Unsecured Creditors
-----------------------------------------------------------
Notice is hereby given, pursuant to section 48(2) of the
Insolvency Act 1986, that a Meeting of the unsecured Creditors
of DHE Holdings Limited will be held at RSM Robson Rhodes LLP,
186 City Road, London EC1V 2NU, on 26 January 2005, at 11:30
a.m., for the purpose of having laid before it a copy of the
report prepared by the Administrative Receivers under section 48
of the said Act.

The Meeting may, if it thinks fit, establish a Creditors'
Committee to exercise the functions conferred on it, by, or
under the Act.  Creditors are only entitled to vote if they have
delivered to RSM Robson Rhodes LLP, 186 City Road, London EC1V
2NU, no later than 12:00 noon on the business day before the
Meeting, written details of the debt they claim to be due, and
the claim has been duly admitted under the provisions of the
Insolvency Rules 1986; and there had been lodged with us any
proxy which the Creditor intends to use on his behalf.

G P Rowley and S P Bower, Joint Administrative Receivers

CONTACT:  RSM ROBSON RHODES LLP
          186 City Road,
          London EC1V 2NU
          Phone: +44 (0) 20 7251 1644
          Fax: +44 (0) 20 7250 0801
          Web site: http://www.robsonrhodes.co.uk


D KETLEY: Calls in Tenon Recovery Administrators
------------------------------------------------
Joint Administrators Patrick Ellward (IP No 008702) and Duncan
Beat (IP No 008161) of Tenon Recovery have been appointed to
asphalt contractor D Ketley (Asphalt) Limited on January 10.

CONTACT:  D KETLEY
          Mountpelier Farm Blasford Mill
          Little Waltham Essex CM3 3PG
          Phone: 01245 360605

          TENON RECOVERY
          Charnwood House, Gregory Boulevard
          Nottingham NG7 6NX
          Contact:
          Patrick Ellward, Administrator

          TENON RECOVERY
          Finsbury Circus, London EC2M 5SQ
          Contact:
          Duncan Beat, Administrator


EVER 2286: Files for Liquidation a Year After Incorporation
-----------------------------------------------------------
Members of Ever 2286 Limited have called in liquidators Patrick
Ellward and Dilip Dattani of Tenon Recovery on January 5.  The
company is based in 1 Royal Standard Place, Nottingham NG1 6FZ.
It was incorporated in January 2004.

CONTACT:  TENON RECOVERY
          Charnwood House, Gregory Boulevard, Nottingham NG7 6NX
          Contact:
          Patrick Ellward, Liquidator
          Dilip Dattani, Liquidator


FERGDORM 02: Final Winding up Report Out Next Month
---------------------------------------------------
Notice is hereby given, pursuant to section 94 of the Insolvency
Act 1986, that the Final Meeting of Members of Fergdorm 02
Limited will be held at the offices of PricewaterhouseCoopers
LLP, Plumtree Court, London EC4A 4HT, on 23 February 2005,
commencing at 10.00 a.m., for the purpose of having an account
laid before the Members showing how the winding-up has been
conducted and the property of the Company disposed of, and
hearing any explanation that may be given by the Liquidator.

A Member entitled to attend and vote at the Meeting may appoint
a proxy, who need not be a Member, to attend and vote instead of
him or her.

R Setchim, Joint Liquidator
11 January 2005

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


FKAC (NORTHAMPTON): Receivers Set Creditors Meeting Next Week
-------------------------------------------------------------
In accordance with paragraph 51 of Schedule B1 to the Insolvency
Act 1986, notice is hereby given that a Meeting of Creditors in
FKAC (Northampton) Limited is to be held at Grant Thornton
House, Melton Street, Euston Square, London NW1 2EP, on 26
January 2005, at 10:00 a.m., to consider statement of proposals
and to consider establishing a Committee of Creditors.  In order
for Creditors to be able to vote details of their claims must be
lodged at Grant Thornton, Grant Thornton House, Melton Street,
Euston Square, London NW1 2EP, not later than 12:00 noon on 25
January 2005.  Under Rule 2.38(1) of the Insolvency Act 1986,
proxies may be lodged at any time prior to the commencement of
the Meeting.

CONTACT:  GRANT THORNTON U.K. LLP
          Grant Thornton House
          Melton Street
          Euston Square
          London NW1 2EP
          Phone: 020 7383 5100
          Fax: 020 7383 4715
          Web site: http://www.grant-thornton.co.uk


G E BISSELL: Alumasc Cuts Loss-making Unit Adrift
-------------------------------------------------
Alumasc, the high specification engineering and building
products group, announces the sale on 14 January 2005 of the
business and certain assets of G E Bissell & Co, to a private
company.  Bissell manufactures and supplies spring pins and disc
springs.  Bissell lost GBP0.2 million on turnover of GBP2.95
million in the year to 30 June 2004 and has remained in loss
during the first 6 months of the current financial year.

Chief Executive Paul Hooper stated: "This transaction has
enabled the Group to dispose of a small, loss-making, non-core
business which will generate cash for our stated plan to focus
development on our core activities of Precision Components and
Specification Building Products where acquisitions were
announced in July and September 2004."

The sale comprises an initial payment for goodwill, together
with an option to purchase plant and equipment.  The purchaser
will pay for stock over a period of 6 months at a rate and value
dependent on usage.  During this time, Alumasc will liquidate
the remaining working capital.  Ownership of the freehold site
will be retained by Alumasc.

The assets subject to the transaction, including working
capital, have a book value of GBP1.5 million and are expected to
realize GBP1 million in cash before costs of GBP0.2 million.
The freehold site will be written down by GBP0.3 million to its
estimated market value of GBP0.5 million.  Alumasc intends to
account for this transaction in its accounts for the half year
ended 31 December 2004 as a discontinued business.

The cash released by the transaction will be used for developing
the Group's core business.  Alumasc intends to announce its
Interim Results for the 6 months ended 31 December 2004 on 10
February 2005.

CONTACT:  THE ALUMASC GROUP PLC
          Phone: 01536-383 844
          John McCall (Chairman)
          Paul Hooper (Chief Executive)

          BANKSIDE CONSULTANTS LIMITED
          Charles Ponsonby
          Phone: 020-7444 4166


GIIT REALISATIONS: Opts for Liquidation
---------------------------------------
Members of GIIT Realisations 2 Limited called in liquidators
Patrick Joseph Brazzill and Margaret Elizabeth Mills of Ernst &
Yound on January 11.  The company is based in London.  It was
incorporated March 2003.

CONTACT:  GIIT REALISATIONS 2 LIMITED
          1 More London Place, London SE1 2AF

          ERNST & YOUNG LLP
          1 More London Place, London SE1 2AF
          Contact:
          Patrick Joseph Brazzill, Liquidator
          Margaret Elizabeth Mills, Liquidator


HART BOULTON: Hires Administrators from Numerica
------------------------------------------------
Joint administrators Simon Edward Jex Girling and Alan Roy Limb
of Numerica LLP have been appointed joint administrators of
publishing firm Hart Boulton & Company Limited on January 10,
2005.

CONTACT:  NUMERICA LLP
          Crown House, 37-41 Prince Street
          Bristol BS1 4PS
          Contact:
          Simon Edward Jex Girling, Administrator

          NUMERICA LLP
          Stoughton House, Harborough Road, Oadby
          Leicester LE2 4LP
          Contact:
          Alan Roy Limb, Administrator


HART BOULTON: Receivers Seek Buyers for Printing Business
---------------------------------------------------------
Joint administrators Simon Girling and Alan Limb offer for sale
the business and assets of Hart Boulton & Company Limited as a
going concern.

Principal features:

(a) Specialist printer and trade stringer;

(b) Turnover of around GBP0.7 million; and

(c) 16,000 sq. ft. freehold premises in Stoke on Trent

CONTACT:  NUMERICA LLP
          Crown House
          37/41 Prince Street
          Bristol BS1 4PS
          Web site: http://numerica.co.uk

          Simon Girling, Joint Administrator
          Phone: 0117 934 2830
                 0787 969 3713
          Fax: 0117 921 5427
          E-mail: simon.girling@numerica.com.uk


HD LOGISTICS: Gives Creditors Six Months to File Claims
-------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

             IN THE MATTER OF HD Logistics Limited
                        (In Receivership)
I, Fraser J. Gray and David J. Whitehouse, Chartered
Accountants, of Kroll Limited, Afton House, 26 West Nile Street,
Glasgow G1 2PF, hereby give notice that we were appointed Joint
Receivers on December 22, 2004 of the whole property and assets
of HD Logistics Limited in terms of section 51 of the Insolvency
Act 1986.

In terms of section 59 of the said Act, preferential creditors
are required to lodge their formal claims with us within six
months of the date of this notice.

Fraser J. Gray, Joint Receiver
January 7, 2005

CONTACT:  KROLL GLASGOW
          Afton House
          26 West Nile Street
          Glasgow G1 2PF
          Phone: 44 (0) 141 248 1250
          Fax: 44 (0) 141 248 1262
          Web site: http://www.krollworldwide.com


HEMPKIP LIMITED: Liquidator from BDO Stoy Enters Firm
-----------------------------------------------------
Members of Hempkip Limited called in liquidators D B Coakley of
BDO Stoy Hayward in December.  Hempkip is involved in property
investment and development.

CONTACT:  HEMPKIP LIMITED
          Pixham End, Dorking, Surrey

          BDO Stoy Hayward LLP
          Connaught House, Alexandra Terrace
          Guildford, Surrey GU1 3DA
          Contact:
          D B Coakley


HYDER SECURITIES: Liquidator to Deliver Final Report February
-------------------------------------------------------------
Notice is hereby given, pursuant to section 94 of the Insolvency
Act 1986, that a Final Meeting of the Members of Hyder
Securities (Utilities) Limited will be held at 1 More London
Place, London SE1 2AF, on Monday 14 February 2005, at 11.00
a.m., to receive an account showing how the winding-up of the
Company has been conducted and its property disposed of, and to
hear any explanation that may be furnished by the Joint
Liquidators.  Any Member entitled to attend and vote is entitled
to appoint a proxy to attend and vote instead of him or her and
such a proxy need not be a Member.  If you wish to appoint a
proxy, a proxy form should be lodged with Ernst & Young LLP, 1
More London Place, London SE1 2AF no later than 12.00 noon on
Friday 11 February 2005.

M D Rollings, Joint Liquidator
12 January 2005

CONTACT:  ERNST & YOUNG LLP
          1 More London Place
          London SE1 2AF
          Phone: +44 [0] 20 7951 2000
          Fax: +44 [0] 20 7951 1345
          Web site: http://www.ey.com


INTASCOT PLC: Appoints Grant Thornton Liquidator
------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

                IN THE MATTER OF Intascot Plc

Notice is hereby given that on Dec. 27, 2004, I, Samantha Keen
of Grant Thornton U.K. LLP, 31 Carlton Crescent, Southampton
SO15 2EW, was appointed liquidator of Intascot Plc, which
registered office is located at 95 Bothwell Street, Glasgow G2
7JZ.

Samantha Keen, Liquidator

CONTACT:  GRANT THORNTON U.K. LLP
          31 Carlton Crescent
          Southampton SO15 2EW
          Phone: 023 8022 1231
          Fax: 023 8022 4017
          Web site: http://www.grant-thornton.co.uk


I T C INTERIORS: Creditors Meeting Slated Tuesday
-------------------------------------------------
Notice is hereby given, pursuant to section 98 of the Insolvency
Act 1986, that a Meeting of Creditors of I T C Interiors Limited
will be held at Kroll, 1 Oxford Court, Bishopgate, Manchester M2
3WR, on 25 January 2005, at 11.30 a.m., for the purposes
provided for in sections 99 and 101 of the Act.

Creditors wishing to vote at the Meeting must lodge their proxy,
together with a statement of claim, at the offices of Kroll, 5th
Floor, Airedale House, 77 Albion Street, Leeds LS1 5AP, not
later than 12.00 noon on the business day prior to the Meeting.

The proxy form and statement may be posted or sent by fax to
0113 244 9305.  Secured Creditors may only vote for the balance
of the debt, which will not be recovered by enforcement of the
security, unless right to enforce is waived.  A list of the
names and addresses of the Company's Creditors will be available
for inspection, free of charge, at the offices of Kroll, 5th
Floor, Airedale House, 77 Albion Street, Leeds LS1 5AP, on the
two business days prior to the Meeting between the hours of
10.00 a.m. and 4.00 p.m.  If no Liquidation Committee is formed,
a Resolution may be taken specifying the terms on which the
Liquidator is to be remunerated.  The Meeting will receive
information about, or be called upon to approve, the costs of
preparing the statement of affairs and convening the Meeting.

J C Parry, Director


KITCHENMANIA LIMITED: Calls Creditors Meeting to Decide Fate
------------------------------------------------------------
Notice is hereby given, pursuant to section 98 of the Insolvency
Act 1986, that a Meeting of the Creditors of KitchenMania
Limited will be held at BDO Stoy Hayward LLP, Commercial
Buildings, 11-15 Cross Street, Manchester M2 1BD, on 27 January
2005, at 11.00 a.m., for the purposes mentioned in sections 99
to 101 of the said Act.  Dermot Justin Power and David Swaden,
of BDO Stoy Hayward LLP, Commercial Buildings, 11-15 Cross
Street, Manchester M2 1BD, are qualified to act as Insolvency
Practitioners in relation to the above and will furnish
Creditors, free of charge, with such information concerning the
Company's affairs as is reasonably required.

By Order of the Board
F Sheldon, Director


KITCHENS @ COST: Creditors to Meet Next Week
--------------------------------------------
Notice is hereby given, pursuant to section 98 of the Insolvency
Act 1986, that a Meeting of the Creditors of Kitchens @ Cost
Limited will be held at BDO Stoy Hayward LLP, Commercial
Buildings, 11-15 Cross Street, Manchester M2 1BD, on 27 January
2005, at 11.15 a.m., for the purposes mentioned in sections 99
to 101 of the said Act.  Dermot Justin Power and David Swaden,
of BDO Stoy Hayward LLP, Commercial Buildings, 11-15 Cross
Street, Manchester M2 1BD, are qualified to act as Insolvency
Practitioners in relation to the above and will furnish
Creditors, free of charge, with such information concerning the
Company's affairs as is reasonably required.

By Order of the Board.
F Sheldon, Director

CONTACT:  BDO STOY HAYWARD LLP
          Commercial Buildings,
          11-15 Cross Street, Manchester M2 1BD
          Phone: 0161 817 3700
          Fax: 0161 817 3711
          E-mail: manchester@bdo.co.uk
          Web site: http://www.bdo.co.uk


PARKSIDE FLEXIBLES: Packaging Materials Supplier for Sale
---------------------------------------------------------
The joint administrators, Edward Klempa, Ian Stoke and Steve
Ellis of PricewaterhouseCoopers LLP, offer for sale the business
and assets of Parkside Flexibles Limited, a major supplier of
printed flexible packaging materials to the tobacco and retail
industries.

Principal features:

(a) Turnover of around GBP209 million;

(b) State-of-the-art flexographic printing equipment;

(c) Advanced coating and lamination processes;

(d) Blue-chip customer base;

(e) Workforce of around 180 employees; and

(f) Modern leasehold premises at Normanton, West Yorkshire

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

          Susan Spence
          Phone: [44] (113) 289 4107
          Fax: [44] (113) 289 4580
          E-mail: susan.r.spencer@uk.pwc.com


PATISSERIE CO.: Food Wholesaler Files in Administration
-------------------------------------------------------
Joint administrators Paul Michael Davis and Timothy John Edward
Dolder of Begbies Traynor have been appointed to food wholesaler
Patisserie Co. Limited in December.

CONTACT:  PATISSERIE CO LIMITED
          29 Welbeck Street, London W1M 8DA

          BEGBIES TRAYNOR (SOUTH) LLP
          32 Cornhill, London EC3V 3BT
          Contact:
          Paul Michael Davis, Administrator
          Timothy John Edward Dolder, Administrator


SCIENCE PARK: Calls in Administrative Receivers from Deloitte
-------------------------------------------------------------
Northern Rock plc called in administrative receivers Ian Brown
and Adrian Peter Berry of Deloitte & Touche for Science Park
Ventures Limited on January 4.  Science Park lets out
properties.  It was incorporated August 2000.

CONTACT:  SCIENCE PARK VENTURES LIMITED
          Hartham Park House, Hartham, Corsham, Wiltshire, SN13

          NORTHERN ROCK PLC
          Northern Rock House, Gosforth, Newcastle Upon Tyne
          NE3 4PL
          Phone: 0191 285 7191
          Web site: http://www.northernrock.co.uk/

          DELOITTE & TOUCHE LLP
          1 City Square, Leeds LS1 2AL
          Contact:
          Ian Brown, Receiver
          Adrian Peter Berry, Receiver


SUN-SER FISHING: Joint Liquidators Take over Operations
-------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

        IN THE MATTER OF Sun-Ser Fishing Company Limited
             (In Receivership and in Liquidation)

We, Neil A. Armour, CA and Blair C. Nimmo, CA, KPMG, 37 Albyn
Place, Aberdeen AB10 1JB, give notice pursuant to Rule 4.19 of
the Insolvency (Scotland) Rules 1986 that on December 7, 2004 we
were appointed joint liquidators of Sun-Ser Fishing Company
Limited by resolution of the first meeting of creditors.

A Liquidation Committee was not established.  Accordingly I give
notice that I do not intend to summon a further Meeting for the
purposes of establishing a Liquidation Committee unless one-
tenth, in value of the Creditors require me to do so in terms of
section 142(3) of the Insolvency Act 1986.

Blair C. Nimmo, Joint Liquidator

CONTACT:  KPMG LLP
          37 Albyn Place
          Aberdeen AB10 1JB
          Phone: (01224) 591000
          Fax: (01224) 590909
          Web site: http://www.kpmg.co.uk


THOMAS PORTER: Hires Liquidators from Begbies Traynor
-----------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

     IN THE MATTER OF Thomas Porter & Son (Glasgow) Limited

Notice is hereby given that on Dec. 17, 2004, P. M. Davis and T.
J. E. Dolder, both of Begbies Traynor, Chiltern House, 24-30
King Street, Watford, WD18 0BP, were appointed joint liquidators
of Thomas Porter & Son (Glasgow) Limited, which registered
office is located at Chiltern House, 24-30 King Street, Watford,
Hertfordshire WD18 0BP.

Paul M. Davis, Joint Liquidator

CONTACT:  BEGBIES TRAYNOR
          Chiltern House
          24-30 King Street
          Watford WD18 0BP
          Phone: 01923 812900
          Fax: 01923 812999
          E-mail: watford@begbies-traynor.com
          Web site: http://www.begbies.com


US PROPERTIES: KPMG to Deliver Winding up Report Next Month
-----------------------------------------------------------
Notice is hereby given, pursuant to section 94 of the Insolvency
Act 1986, that a Final Meeting of the Members of US Properties
PLC Company will be held at KPMG, 8 Salisbury Square, London
EC4Y 8BB, on 25 February 2005, at 10.30 a.m., for the purposes
of receiving an account showing the manner in which the winding-
up has been conducted and the property of the Company disposed
of, and of hearing any explanation which may be given by the
Joint Liquidators.  Proxy forms, if applicable, must be lodged
at KPMG Corporate Recovery, 8 Salisbury Square, London EC4Y 8BB,
by no later than 24 February 2005.

J S Spratt, Joint Liquidator
12 January 2005

CONTACT:  KPMG LLP
          PO Box 695,
          8 Salisbury Square,
          London EC4Y 8BB
          Phone: (020) 7311 1000
          Fax: (020) 7311 3311
          Web site: http://www.kpmg.co.uk


WATERFORD WEDGWOOD: Royal Doulton Offer Declared Unconditional
--------------------------------------------------------------

                          WATERFORD WEDGWOOD U.K. PLC

                  RECOMMENDED CASH OFFER FOR ROYAL DOULTON PLC

                      OFFER DECLARED WHOLLY UNCONDITIONAL

The Board of Waterford Wedgwood U.K. plc announces that as at
3.00 p.m. on Friday, 14 January, the first closing date of its
offer for Royal Doulton plc, Waterford Wedgwood U.K. had
received valid acceptances in respect of 230,615,012 Royal
Doulton ordinary shares representing 69.38% of Royal Doulton's
issued ordinary share capital.

Included in these acceptances are those received pursuant to
irrevocable undertakings to accept the Offer from Indexia
Holdings Limited (a company wholly controlled by Sir Anthony
O'Reilly) and Cantique Limited (a company wholly controlled by
Mr. Peter John Goulandris) in respect of their aggregate
holdings of 13,250,000 Royal Doulton Shares representing
approximately 4% of Royal Doulton's issued ordinary share
capital and from the directors of Royal Doulton, in respect of
their aggregate holdings of 7,214,235 Royal Doulton Shares
representing approximately 2% of Royal Doulton's issued ordinary
share capital.

Prior to the announcement of the Offer, the Waterford Wedgwood
Group held 70,339,352 Royal Doulton Shares representing
approximately 21.16% of Royal Doulton's issued ordinary share
capital.  Accordingly, the Waterford Wedgwood Group now holds or
has received acceptances in respect of 300,954,364 Royal Doulton
ordinary shares representing 90.54% of the current issued
ordinary share capital of Royal Doulton.

The Board of Waterford Wedgwood U.K. announces that the Offer is
now declared wholly unconditional.

Royal Doulton Shareholders who have not yet accepted the Offer
and wish to do so are urged, if their Royal Doulton Shares are
held in certificated form, to complete and return their Form of
Acceptance and, if their Royal Doulton Shares are held in CREST,
to accept by way of a TTE Instruction, in each case as soon as
possible and as set out in the Offer Document dated 15 December
2004.  Should any Royal Doulton shareholders require additional
Forms of Acceptance, they should contact Capita IRG plc on 0870
162 3100 between 9.00 a.m. and 5.00 p.m. Monday to Friday.  The
Offer will remain open for acceptance until further notice.

Settlement of the consideration to which any Royal Doulton
Shareholder is entitled under the Offer in respect of valid
acceptances received by no later than 3.00 p.m. (London time) on
14 January 2005 will be dispatched on or before 28 January 2005,
and within 14 days of the date of receipt of further acceptances
which are complete in all respects.

Save as disclosed above, neither Waterford Wedgwood U.K. nor any
person acting, or deemed to be acting, in concert with Waterford
Wedgwood U.K. held any Royal Doulton Shares or rights over Royal
Doulton Shares prior to the Offer period and neither Waterford
Wedgwood U.K. nor any person acting in concert with Waterford
Wedgwood U.K. has acquired or agreed to acquire any Royal
Doulton Shares or rights over Royal Doulton Shares during the
Offer Period.

Compulsory Acquisition and De-listing

If and when Waterford Wedgwood U.K. receives valid acceptances
in respect of and/ or otherwise acquires 90% or more of the
shares to which the Offer relates, Waterford Wedgwood U.K.
intends to exercise its rights under the provisions of sections
428 to 430(F) inclusive of the Companies Act 1985 (as amended)
to acquire compulsorily all outstanding Royal Doulton Shares not
acquired or agreed to be acquired pursuant to the Offer.

Waterford Wedgwood U.K. stated in the Offer Document that, after
the Offer is declared unconditional in all respects, it intended
to procure the cancellation of the listing of Royal Doulton
Shares on the Official List of the U.K. Listing Authority, and
the cancellation of trading of Royal Doulton Shares on the
London Stock Exchange.  The notice period for such cancellations
has now commenced and the anticipated date of such cancellations
taking effect is 15 February 2005 or as soon as practicable
thereafter.

This announcement should be read in conjunction with the Offer
Document dated 15 December, 2004.  Terms defined in the Offer
Document have the same meaning in this announcement.

Lazard & Co. Limited is acting for Waterford Wedgwood plc and
Waterford Wedgwood U.K. in connection with the Offer and no one
else and will not be responsible to anyone other than Waterford
Wedgwood plc and Waterford Wedgwood U.K. for providing the
protections afforded to clients of Lazard & Co. Limited nor for
providing advice in connection with the Offer.

The availability of the Offer to Royal Doulton Shareholders who
are not resident in the United Kingdom may be affected by the
laws of the relevant jurisdictions.

Royal Doulton Shareholders who are not resident in the United
Kingdom should inform themselves about and observe any
applicable requirements.

                            *   *   *

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN OR INTO CANADA, AUSTRALIA OR JAPAN

                            *   *   *

In December, Fitch Ratings affirmed the ratings on Waterford
Wedgwood's EUR165 million 9.875% mezzanine notes due 2010.  This
follows an announcement of Waterford Wedgwood PLC's recommended
cash offer for Royal Doulton PLC together with a timetable for a
rights issue to finance the bid.  The rating Outlook remains
Stable.

At the same time Fitch has affirmed WW's ratings at Senior
Unsecured 'B-', and Short-term 'B'.  The rating on its senior
secured debt is affirmed at 'B+'.

CONTACT:  LAZARD & CO., LIMITED

          Phone: +44 20 7187 2000
          Nicholas Shott
          David Reitman

          POWERSCOURT (U.K./International Media)
          Phone: +44 20 7236 5615
          Rory Godson
          Phone: +44 7909 926 020

          DENNEHY ASSOCIATES (Ireland)
          Phone: +353 1 676 4733
          Michael Dennehy
          Phone: +353 87 255 6923

          COLLEGE HILL (Investor Relations)
          Phone: +44 20 7457 2020
          Kate Pope
          Phone: +44 7798 843 276
          Mark Garraway
          Phone: +44 7771 860 938


                            *********


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 2005.  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
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The TCR Europe subscription rate is US$575 per half-year,
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