TCREUR_Public/050222.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

           Tuesday, February 22, 2005, Vol. 6, No. 37

                            Headlines

F R A N C E

EURO DISNEY: Declares Latest Capital Increase a Huge Success


G E R M A N Y

BORUSSIA DORTMUND: Creditors Defer Debt Repayment
BURGER PERSONALMANAGEMENT: Under Bankruptcy Administration
CHAUFFEUR-SERVICE: Creditors Claims Due Next Month
EMR AUGUST: Provisional Administrator Takes over Operations
FLORTRANS GMBH: Gives Creditors Until Next Month to File Claims

PRIMACOM AG: Senior Lenders Okay Multikabel Sale
RELAX SPORTCENTER: Court-appointed Administrator Takes over Helm
SO-PO MOBEL: Applies for Bankruptcy Proceedings
W & S HAUSTECHNIK: Court Accepts Bankruptcy Application


I T A L Y

ALITALIA SPA: E.C. Drafts Ernst & Young to Help Probe Rehab Plan
FINMATICA SPA: Fitch Withdraws Senior Unsecured Debt Rating
TISCALI SPA: 4th-quarter EBITDA up 16% Year-on-year


K Y R G Y Z S T A N

BALGART-SUU: Under Bankruptcy Supervision
BAZARKORGON MEENET: Claims Filing Period Expires April
ELIS: Sets Creditors Meeting Friday
KANTSKI ZAVOD: Calls General Meeting of Creditors
KOCHKORBAYEVA: To Hold Public Auction Next Week


N E T H E R L A N D S

EXIDE GLOBAL: Moody's Rates Proposed Senior Unsecured Notes Caa1
KENDION N.V.: Net Loss Narrows to EUR12.9 Million


P O L A N D

ELEKTRIM SA: Alstom Lodges Bankruptcy Petition


R U S S I A

AGRO-PLATAVA CRYSTAL: Proofs of Claim Deadline Expires March
ALAPAEVSKIY MACHINE-TOOL: External Management Procedure Begins
AMUR-PORT: Gives Creditors Until March to File Claims
ATLASOVO: Insolvency Manager to Temporarily Oversee Operations
BELOGORSK-GAS: Bankruptcy Hearing Resumes May

DALNEVOSTOCHNYJ COMMERCIAL: Under Bankruptcy Supervision
DON-AIR-CENTRE: Voronezh Court Opens Bankruptcy Proceedings
LERMONTOVSKAYA ORE-MINING: Claims Filing Deadline March 29
METROMEDIA INTERNATIONAL: Selling PeterStar for US$215 Million
MOSCOW TRACT: Creditors Have Until Next Month to File Claims

YUKOS OIL: Posts Claims Category, Treatment Under Chap. 11 Plan
YUKOS OIL: Files Statement of Financial Affairs
YUKOS OIL: Releases Schedules of Assets and Liabilities
ZEYA: Hires A. Shilova as Insolvency Manager


S W I T Z E R L A N D

SWISS INTERNATIONAL: To Disconnect 3 of 4 Call Centers


U K R A I N E

BUDMATERIALI: Declared Insolvent
GRIFON: Odesa Court Opens Bankruptcy Proceedings
KRASNENSKIJ BREAD: Court-appointed Insolvency Manager Moves in
MARIUPOL PHARMACEUTICAL: Court Grants Debt Moratorium Request
METALURGBUD: Insolvency Manager Takes over Operations


U N I T E D   K I N G D O M

ABBEY COLLECTIONS: Hires Parkin S. Booth to Liquidate Assets
ABC PROMOTIONAL: Sets Members Final Meeting March
ASLIB: Former CEO Revives Publisher
BACKMILL LIMITED: Appoints Valentine & Co. Liquidator
BARCONTEK LIMITED: Names Bishop Fleming Liquidator

BARINT LIMITED: Calls in Liquidator from S. C. Banister
B.K.M. SCAFFOLDING: Shareholders Opt to Liquidate Company
B & O (UK): Members Pass Winding-up Resolutions
BROADWAY COMMUNICATIONS: Falls into Administration
BUDABING LIMITED: Hires Tenon Recovery as Liquidator

CLIVEDEN CLUB: Calls in Liquidators from Ernst & Young
CONFEDERATION U.K.: Calls Members General Meeting
COUTTS PRECISION: Liquidator's Final Report Out Next Month
DENEBROOK FINANCIAL: Calls Liquidator from Poppleton & Appleby
D E TUCKER: Members Opt for Liquidation

EAST YORKSHIRE: Hires P&A Partnership to Liquidate Business
ECONOS CONSULTING: Liquidator Calls Final Members Meeting
EDINGTON CREDIT: Appoints KPMG Liquidator
EFFICIENT TRADING: Members Bring in Liquidator
E & G SUPPLIES: Creditors Appoint Liquidator

EUROTUNNEL PLC: Jacques Gounon Succeeds Chairman Jacques Maillot
FOXSEAL (UK): Members Decide to Wind up Firm
GEOMARINE LIMITED: Appoints BRI Business Recovery Administrator
HOSTAPHAN UK: Calls in Liquidators from Begbies Traynor
LAZARI LIMITED: Creditors Appoint Liquidator

LEC MARINE: Names Smith & Williamson Administrator
MARK COLEMAN: Hires Liquidator from Kroll Limited
MEGA FORREST: Liquidator from Begbies Traynor Steps in
PREMIER FOODS: U.K. Food Agency Orders Worcester Sauce Recall
SCI.LANG LIMITED: Final Creditors Meeting Next Week

SKIRFARE BUSINESS: Hires Lee & Company as Liquidator
TIMBER FRAME: Calls in Joint Administrators from PwC
W M ABBOTT: Falls into Administration

* Large Companies with Insolvent Balance Sheets


                            *********


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


EURO DISNEY: Declares Latest Capital Increase a Huge Success
------------------------------------------------------------
Euro Disney S.C.A., operator of Disneyland Resort Paris,
announces the success of its EUR253.3 million (issue premium
included) share capital increase launched on 20 January.  The
offering provided existing shareholders the preferential rights
to purchase 2.8 billion new shares at EUR0.09 per share.

At the closing of the centralization period, total subscriptions
exceeded shares offered by approximately 9%, demonstrating
investor confidence in the Company's future.  About 3.1 billion
total shares were subscribed, of which 2.6 billion shares were
subscribed on a non-reducible basis and 496.3 million were
subscribed on a reducible basis.  The method by which
applications for reducible shares will be scaled down will be
published early next week.

The new shares will be admitted to trading on Euronext Paris and
Euronext Brussels as from 23 February 2005.  The new shares and
the new Depositary Receipts will also be admitted to trading on
the London Stock Exchange's market for listed securities.

Upon final settlement of the share capital increase on 23
February 2005, the Company's restructuring, which was designed
to provide liquidity and capital to support operations and fuel
future growth, will become fully effective.

We are pleased with the strong market response to our equity
offering, which we see as a vote of confidence in the Company's
growth potential and strategy.

Now, our undivided attention turns to the execution of our
growth strategy, said Jeffrey R. Speed, Senior Vice President
and Chief Financial Officer of Euro Disney S.A.S.

Andre Lacroix, Chairman and Chief Executive Officer of Euro
Disney S.A.S., added: "We look forward to an exciting future as
we begin an unprecedented, multi-year expansion of our resort
offering.  In April, we will witness the launch of Space
Mountain: Mission 2, followed by our Summer Magic Celebration
honoring the 50th Anniversary of The Disneyland Resort in
California.  Each of the years 2006, 2007 and 2008 will bring
even more rides and attractions to our Resort.  These
investments, combined with an innovative marketing and sales
strategy should set the foundation for sustained and profitable
growth."

Euro Disney S.C.A. and its subsidiaries operate the Disneyland
Resort Paris which includes: Disneyland Park, Walt Disney
Studios Park, seven themed hotels with approximately 5,800 rooms
(excluding 2,033 additional third-party rooms located on the
site), two convention centers, Disney Village (a dining,
shopping and entertainment center) and a 27-hole golf facility.
The Group's operating activities also include the management and
development of the 2,000-hectare site, which currently includes
approximately 1,000 hectares of undeveloped land. Euro Disney
S.C.A.'s shares trade in Paris (SRD), London and Brussels.

                            *   *   *

These materials are not an offer to sell or a solicitation to
buy any securities in the rights offering in France, the United
States or any other jurisdiction.  The rights offering will be
made only by means of an offering document complying with the
applicable securities laws of the jurisdiction or jurisdictions
in which such rights offering shall be made.  The securities
offered in the rights offering have not been and will not be
registered under the United States Securities Act of 1933 and
may not be offered or sold in the United States or in any other
jurisdiction absent registration, an applicable exemption from
registration requirements or qualification under the applicable
securities laws of such jurisdiction.

CORPORATE:  EURO DISNEY
            Corporate Communication
            Pieter Boterman
            Phone: +331 64 74 59 50
            Fax: +331 64 74 59 69
            E-mail: pieter.boterman@disney.com

            Investor Relations
            Fiona Lord Duarte
            Phone: +331 64 74 58 55
            Fax: +331 64 74 56 36
            E-mail: fiona.lord.duarte@disney.com


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


BORUSSIA DORTMUND: Creditors Defer Debt Repayment
-------------------------------------------------
Troubled soccer club Borussia Dortmund has reached an agreement
with creditors that could avert its fall into bankruptcy,
Associated Press WorldStream says.

Creditors on Friday deferred until 2006 to 2007 the payment of
Borussia's debt and promised to provide the loss-making club
short-term loans to pay players salaries.  The agreement,
however, would take effect only if fund investors approve the
restructuring of Westfallen stadium, the club's headquarters.
Borussia sold Westfallen to the fund in 2003 in a leaseback deal
and has failed to cover some rent payments.  The club is now
trying to repurchase the stadium with aid from creditors.

Borussia Dortmund recently booked EUR27 million in operating
loss for the second half of 2004 and it now expects full-year
operating loss to swell to EUR68.8 million.  Including last
year's loss of EUR73.3 million, Borussia's total deficit now
amounts to EUR142.1 million or 79% of its paid-up capital.  The
only publicly listed football club in Germany, Borussia is
suffering from thinning television income and bloated
payroll.  The 95-year-old club currently ranks 11th in the 18-
team Bundesliga.

CONTACT:  BORUSSIA DORTMUND GMBH & CO. KGAA
          Rheinlanddamm 207-209
          44137 Dortmund
          Phone: +49 (2 31) 9 02 00
          Web site: http://www.borussia-dortmund.de


BURGER PERSONALMANAGEMENT: Under Bankruptcy Administration
----------------------------------------------------------
The district court of Munich opened bankruptcy proceedings
against Burger Personalmanagement GmbH on Jan. 18.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until March 1, 2005
to register their claims with court-appointed provisional
administrator Dr. Martin Prager.

Creditors and other interested parties are encouraged to attend
the meeting on April 6, 2005, 9:10 a.m. at Infanteriestr. 5,
Sitzungssaal 102 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:  BURGER PERSONALMANAGEMENT GMBH
          Rosenheimer Str. 52 in 81669 Munchen

          Dr. Martin Prager, Insolvency Manager
          Barthstr. 16, 80339 Munchen
          Phone: 089/8589633
          Fax: 089/85896350


CHAUFFEUR-SERVICE: Creditors Claims Due Next Month
--------------------------------------------------
The district court of Munchen opened bankruptcy proceedings
against Chaufferu-Service Groh GmbH on Jan. 20.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until March 18, 2005 to
register their claims with court-appointed provisional
administrator Christian Gerloff.

Creditors and other interested parties are encouraged to attend
the meeting on April 18, 2005, 9:10 a.m. at Infanteriestr. 5,
Sitzungssaal 102 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:  CHAUFFEUR-SERVICE GROH GMBH
          Dachauer Str. 203-207 in 80637 Munchen

          Christian Gerloff, Insolvency Manager
          Nymphenburger Str. 139, 80636 Munchen
          Phone: 089/120260
          Fax: 089/12026137


EMR AUGUST: Provisional Administrator Takes over Operations
-----------------------------------------------------------
The district court of Bochum opened bankruptcy proceedings
against EMR August Dornemann GmbH on Feb. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until March 14, 2005 to register their
claims with court-appointed provisional administrator Wolfgang
Lorisch.

Creditors and other interested parties are encouraged to attend
the meeting on April 12, 2005 at the district court of Bochum,
Hauptstelle, Viktoriastrasse 14, 44787 Bochum, Erdgeschoss, Saal
A29 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:  EMR AUGUST DORNEMANN GMBH
          Hertener Str. 34, 45657 Recklinghausen
          Contact:
          Klaus-Friedrich Dornemann, Manager
          Hertener Str. 34, 45657 Recklinghausen

          Wolfgang Lorisch, Insolvency Manager
          Kurt-Schumacher-Strasse 48, 45699 Herten
          Phone: 02366/10820
          Fax: 02366 108282


FLORTRANS GMBH: Gives Creditors Until Next Month to File Claims
---------------------------------------------------------------
The district court of Friedberg (Hessen) opened bankruptcy
proceedings against FlorTrans GmbH on Jan. 26.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until March 10, 2005 to
register their claims with court-appointed provisional
administrator FlorTrans GmbH.

Creditors and other interested parties are encouraged to attend
the meeting on March 21, 2005, 2:00 p.m. 2. OG, Zimmer 235,
Amtsgerichtsgebaude, Homburger Strasse 18, 61169 Friedberg
(Hessen) 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:  FLORTRANS GMBH
          Contact:
          Sabine Meermann-Enders, Manager
          Wickstadter Strasse 84, 61197 Florstadt

          Udo Schwab, Insolvency Manager
          Poststrasse 1, 35410 Hungen
          Phone: 06402/5213-0
          Fax: 06402/5213-33


PRIMACOM AG: Senior Lenders Okay Multikabel Sale
------------------------------------------------
The required majority of senior lenders have agreed to the sale
of Multikabel, a 100% PrimaCom affiliate.  The firm's
restructuring process continues.  With the sale of Multikabel,
its first-class secured loan liabilities were reduced and the
company was discharged of interest and amortization payments.

                            *   *   *

Primacom is a significant private cable network operator with
over 5% market share in Germany and the Netherlands.  It offers
a wide range of analog, digital and interactive broadband
services.  Customers, connected to the upgraded 862 MHz
networks, have access to more than 100 TV and radio programs, to
interactive Video on Demand, and to high speed Internet.  It
passes two million homes and serves 1.3 million subscribers, 1.0
million in Germany and 300,000 in the Netherlands

PrimaCom AG
Management Board

CONTACT:  PRIMACOM AG
          Investor Relations
          Phone: +49 (0) 6131 - 944 522
          Fax: +49 (0) 6131 - 944 508
          E-mail: investor@primacom.de
          Web site: http://www.primacom.de


RELAX SPORTCENTER: Court-appointed Administrator Takes over Helm
----------------------------------------------------------------
The district court of Magdeburg opened bankruptcy proceedings
against Relax Sportcenter Schonebeck GmbH on Jan. 25.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until March 4, 2005
to register their claims with court-appointed provisional
administrator Arne Brumm.

Creditors and other interested parties are encouraged to attend
the meeting on March 31, 2005, 10:20 a.m. at Saal E,
Insolvenzabteilung, 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:  RELAX SPORTCENTER SCHONEBECK GMBH
          Stadionstr. 19, 39218 Schonebeck
          Contact:
          Cornelia Tiedemann, Manager
          Elbweg 23, 39218 Schonebeck

          Thomas Emmrich, Manager
          Neptunweg 16, 39118 Magdeburg

          Arne Brumm, Insolvency Manager
          Jahnring 29, 39104 Magdeburg
          Phone: 0391/5971240
          Fax: 0391/5971241


SO-PO MOBEL: Applies for Bankruptcy Proceedings
-----------------------------------------------
The district court of Bonn opened bankruptcy proceedings against
SO-PO Mobel- und Sonderpostenmarkt GmbH on Jan. 31.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until March 11, 2005
to register their claims with court-appointed provisional
administrator Karl-Dieter Sommerfeld.

Creditors and other interested parties are encouraged to attend
the meeting on April 21, 2005, 10:30 a.m. at the district court
of Bonn, -Insolvenzgericht-, Wilhelmstrasse 21, 53111 Bonn,
Zimmer W 1.24 C 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:  SO-PO MOBEL- UND SONDERPOSTENMARKT GMBH
          Schladernerstr. 32, 51545 Waldbrol
          Contact:
          Udo Ruckerl, Manager
          Falkenweg 26, 51570 Windeck

          Karl-Dieter Sommerfeld, Insolvency Manager
          Hammerweg 3, 51766 Engelskirchen-Runderoth
          Phone: 02263/9039-0
          Fax: 02263/9039-10


W & S HAUSTECHNIK: Court Accepts Bankruptcy Application
-------------------------------------------------------
The district court of Bonn opened bankruptcy proceedings against
W&S Haustechnik GmbH on Feb. 2.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until March 11, 2005 to register their claims
with court-appointed provisional administrator Peter
Staroselski.

Creditors and other interested parties are encouraged to attend
the meeting on April 11, 2005, 9:45 a.m. at the district court
of Bonn, -Insolvenzgericht-, Wilhelmstrasse 21, 53111 Bonn, 2.
Stock, Saal S 2.17 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:  W & S HAUSTECHNIK GMBH
          Heizung-Sanitar-Solar
          Pappelweg 144, 53177 Bonn
          Contact:
          Roland Hase, Manager
          Pappelweg 144, 53177 Bonn

          Peter Staroselski, Insolvency Manager
          Godesberger Allee 125-127, 53175 Bonn
          Phone: 8100045
          Fax: 8100020


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


ALITALIA SPA: E.C. Drafts Ernst & Young to Help Probe Rehab Plan
----------------------------------------------------------------
The European Commission reportedly hired the services of
auditing firm Ernst & Young in its in-depth probe on Alitalia
rescue plan, Il Sole 24 Ore says.

Ernst & Young will reportedly serve as the regulator's
consultant in the ongoing probe, which is trying to sift traces
of illegal state aid in Alitalia's 2005-2008 business plan.  The
E.C. expressed concerned that state holding group Fintecna would
acquire 51% of AZ Servizi, Alitalia's new ground services
subsidiary, instead of the proposed 49%.  European Union
transport commissioner Jacques Barrot, in a letter to Italy,
alleged AZ Servizi would absorb Alitalia's debt, thereby
suffering an instant loss of EUR122 million for 2005 to 2007.
The transaction has raised fears that the government, through
Fintecna, would be rescuing the troubled carrier.

CONTACT:  ALITALIA S.p.A.
          Viale A. Marchetti 111
          00148 Rome, Italy
          Phone: +39 06 6562 2151
          Fax: +39 06 6562 4733
          Web site: http://www.alitalia.it


FINMATICA SPA: Fitch Withdraws Senior Unsecured Debt Rating
-----------------------------------------------------------
Fitch Ratings withdrew the 'D' Senior Unsecured Debt and 'D'
Short-term ratings of Finmatica S.p.A., in accordance with the
agency's policy on withdrawal of ratings applied to defaulted
securities.  Fitch will no longer provide analytical coverage of
this issuer.

CONTACT:  FITCH RATINGS
          Elisabetta Zorzi, Milan
          Phone: +39 02 8790 87213

          Stuart Reid, London
          Phone: +44 (0) 20 7417 4323

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

          FINMATICA S.p.A.
          Via Cadolini, 26
          20137 Milan, Italy
          Phone: +39-02-54-04-31
          Fax: +39-02-54-05-00-49
          Web site: http://www.finmaticaspa.com


TISCALI SPA: 4th-quarter EBITDA up 16% Year-on-year
---------------------------------------------------
The Group achieved its key operating and financial targets for
Q4 FY2004:

(a) Revenues totaled EUR266.6 million, 16% higher than in the
    fourth quarter of 2003 on a comparable* basis and 4% ahead,
    on a comparable basis, QoQ.  This advance took full-year
    revenues to EUR1,075.3 million, equivalent to a 23% increase
    on FY03;

(b) EBITDA totaled EUR33.4 million, or 13% of revenues, 16%
    ahead, on a comparable basis, of the fourth-quarter 2003
    figure and 35% ahead, on a comparable basis, QoQ.  Full-year
    EBITDA totaled EUR107.3 million (10% of revenues) 36% ahead,
    on a comparable basis, of the prior-year figure

(c) EUR7.9 million free cash flow.  Strong improvement of net
    financial position (+72.8 million EUR in the quarter)
    resulting from implementation of the first steps of the
    strategic and financial plan;

(d) The Group closed the year with 1.65 million ADSL users, of
    which 330,000 were using unbundled services;

(e) Proceeds in excess of EUR170 million have been raised by the
    sale of non-core group assets and by the EUR50 million
    capital increase concluded in December.  The business and
    financial plan will be approved by mid March.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
* All % comparisons are presented on a comparable basis, i.e.
assuming the same consolidation perimeter
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Tiscali's board of directors has approved the 4Q04 results.  The
results show that targets set for sales, profitability, ADSL
user numbers and cash flow generation in the financial year just
ended have all been met.

The fourth quarter also saw an improvement of the EBITDA margin
and the continuation of the non-core asset disposals program
begun in the third quarter, inline with the strategic plan and
the Group's refocusing on those markets offering greater
potential for growth.

The sale of the Belgian and Danish subsidiaries, for EUR19
million and EUR20.7 million respectively, together with funds
raised with capital increase took the proceeds of disposals over
EUR170 million.

The next steps currently being finalized will allow completion
of the financial plan in order to reimburse the debt and to
support further growth.

Revenues and Gross Profit

The total revenues of the Tiscali group in 4Q04 came to EUR266.6
million, up 7% on 4Q03 in nominal terms (+16% like-for-like,
that is, adjusted for the change in consolidation area after the
disposal of the Austrian, Norwegian, Swedish and Swiss
subsidiaries in the course of the quarter) and up 4%, on a like-
for-like, same group structure basis, on 3Q04.

At the end of December the Group had a total of 1.65 million
ADSL users, compared with a total of 840,000 at the end of FY03
(+97%).  The Group gained 110,000 new users in the quarter just
ended, 7% more than in the previous quarter.  Active users
totaled 7.4 million, 5.7 million of which were dial-up
customers.

The shrinkage in the dial-up user base since the third quarter
reflects the new, slimmed-down structure of the consolidated
group as well as user migration to ADSL, in line with the
Group's strategic focus on promoting broadband usage.  Unbundled
services were launched in Italy and France in the course of the
fourth quarter and at the end of December around 330,000 ADSL
customers were receiving unbundled services.  An ever increasing
number of customers is expected to switch over to ADSL,
migrating from wholesale tariffs to unbundled services, thanks
to the launch of the double play (data and voice) services
already available in France and the Germany and other new
services and content.

Access revenues were 11% higher than in 4Q03, at EUR181.1
million (68% of total revenues), and broadly stable compared
with the previous quarter, after adjustments for the exit of
Austria, Norway, Sweden and Switzerland from the consolidated
group, 19% ahead, in like-for-like terms, of the fourth-quarter
2003 figure.  ADSL revenues in the quarter came out at EUR86.3
million (48% of access revenues), more than doubled compared to
the EUR39.5 million (24% of access revenues) recorded in 4Q03
and 7% ahead of the EUR80.9 million (44% of access revenues)
booked in 3Q04.  Dial-up revenues were hurt by declines in both
user numbers and online minutes.  The group's most active dialup
users have switched to broadband services.  At EUR94.8 million,
dial-up revenues were equivalent to 52% of total access
revenues, reflecting the increasing weight of ADSL and the
marked change in the access revenue mix.

Revenues from business services totaled EUR48.2 million, or 18%
of revenues.  This marks a decline on both 4Q03 (-3.8%) and 3Q04
(-9%), which is mainly attributable to the sale of the group's
subsidiary in Austria, where business clients generated a large
proportion of sales.  On a like-for-like basis, business
services revenues were 8% ahead compared with 4Q03 and remained
stable regarding the previous quarter.

Voice revenues were up 5% on the fourth quarter of 2003, at
EUR22.2 million (8% of total revenues), and slightly down on the
previous quarter.  On a like-for-like basis, voice revenues
increased by 8% respect to 4Q03 and remained stable regarding
the previous quarter.

Portal revenues were EUR12.7 million, or 5% of total revenues,
moving up 2% on the prior-year quarter and 21% on the previous
quarter.  On a like-for-like basis, portal revenues were 7%
higher than 4Q03 figures and registered a significant increase
of 25% regarding the previous quarter.  This rise reflects both
an upturn in the advertising sector and the positive calendar
effects typical of the closing months of the year.  The last
quarter of 2004 saw Tiscali confirmed as one of Europe's leading
Web properties, with over 23 million unique visitors in December
2004, a 34% increase on December 2003.

The gross profit in the last quarter of the year amounted to
EUR114.4 million (43% of revenues) on a like-for-like basis an
increase of 6% on the previous quarter.  The result, in spite of
a decline compared to 4Q03 both in absolute terms and as a
percentage of revenues (51%), mainly due to the margin of
wholesale ADSL product, marks an important change in the trend
of the gross profit.  The result confirms the effectiveness of
the strategy and the success of Tiscali's business model with
the conversion of the group's ADSL user base from wholesale
tariffs to unbundled services.  Even if progression from
wholesale towards unbundling is currently discrete, it has very
optimistic economic perspectives.

Operating Performance

Operating costs down as a proportion of revenues 4Q04 operating
costs, at EUR81.1 million, were lower than in 4Q03 both in
absolute terms (-7%) and as a percentage of revenues, falling
from 40% in 4Q03 to 30% in 4Q04.  Operating costs were also down
in absolute terms (-7%) and as a percentage of revenues (from
32% to 30%) relative to the previous quarter.  This reduction in
operating costs as a proportion of revenues is attributable to
lower personnel costs and a revision of marketing strategy as
well as to the change in consolidation area of the fourth
quarter 2004.

Operating Costs Break down as:

(a) marketing costs totaled EUR22.8 million (9% of revenues),
    down 39% on 4Q03 (15% of revenues) and 17% on the previous
    quarter (10% of revenues).  This lesser burden of marketing
    costs reflects a redistribution of investments over the
    year: investment will be higher in the first quarter of 2005
    as the Group focuses its efforts on promoting unbundled ADSL
    and voice (VoIP) services;

(b) personnel costs came to EUR38.6 million (14% of revenues),
    up 4% on 4Q03 (15% of revenues) in absolute terms, but 4%
    lower than in the previous quarter, with little change in
    their weighting in revenues; and

(c) general and administrative costs totaled EUR19.6 million
    (7% of revenues), down 23% in absolute terms on 4Q03 (10% of
    revenues) stable compared to the previous quarter (7% of
    revenues).

Fourth-quarter EBITDA was up 21% in absolute terms at
EUR33.4 million (12.5% of revenues), from EUR27.6 million in
4Q03, a 16% increase in like-for-like terms;

EBITDA was also up (+30%) on the same period in 2003, when a
figure of EUR25.7 million was recorded, thanks to the reduction
in operating costs, and especially sales and marketing costs.
The quarter has registered a strong increase of the
profitability (+35% like-for-like) in spite of the change in the
consolidation area.  Depreciation, amortization and provisions
totaled EUR53.0 million, compared with EUR105.3 million in the
same quarter of 2003.

This decline, which was achieved despite greater investment, is
mainly due to the major depreciations carried out during the
fourth quarter 2003.  The figure is also affected by the lower
goodwill amortization, following a review of its residual useful
life and the harmonization of depreciation rates for tangible
assets undertaken on 31 December 2003.  The figure represents
flat growth on the EUR57.6 million registered in 3Q04, which
incorporated higher provisions.

Depreciation of tangible assets totaled EUR17.1 million in the
last quarter of the year, while amortization of intangible
assets came to EUR28.9 million, of which EUR 13 million related
to goodwill.

The loss at EBIT level was EUR19.6 million, compared with losses
of EUR77.7 million in the prior-year quarter and EUR31.8 million
in the previous quarter.  The group's pre-tax (EBT) loss was
EUR55.9 million in the quarter, down (-30%) on the pre-tax loss
of EUR80.3 million booked in the fourth quarter of 2003.

Financial Resources and Debt: Cash Flow Generation Target
Achieved

For the first time since its incorporation, the Tiscali Group
recorded positive cash flows -- EUR 7.9 million excluding
extraordinaries linked to the Belgian disposal (EUR19 million)
and the 5% increase in company capital (EUR45.9 million net)
concluded in December 2004, which together would take cash flows
in the quarter to EUR72.8 million.

This marked improvement in the Group's cash flows relative to
both the same quarter of 2003 (when cash flows were a negative
EUR45 million) and the previous quarter of 2004 (negative cash
flows of EUR37.3 million) is a reflection of its improved
operating performance and better working capital management.

In the last quarter of 2004, the cash out related to the
investment activities is EUR10 million.

Financial charges generated a cash out at EUR4.5 million in the
quarter, were broadly in line with the same quarter of 2003
(corresponding to quarterly interest on bonds maturing in July
2005) but lower than the financial charges booked in the third
quarter, since these included annual interest paid on bonds that
matured in July 2004 and those maturing in September 2006.

At the full-year close, the Tiscali group had liquid financial
assets of EUR204.0 million, while net debt, exclusive of leasing
and other payables, stood at EUR317.3 million.

The table, which sets out the Group's cash and debt position at
31 December 2004 and movements relative to preceding quarters,
shows clearly the changes since 31 December 2003, specifically
the reduction in receivables and the escrow account, the
repayment of the remaining part of the bonds maturing in 2004,
and the receipt of part of the proceeds raised on the disposal
of non-core assets (around EUR45 million).

CONTACT:  TISCALI S.p.A.
          Sa Illetta
          09122 Cagliari
          Italy
          Web site: http://www.tiscali.com

          Investor Relations
          Phone: +39 02 309011
          E-mail: ir@tiscali.com


===================
K Y R G Y Z S T A N
===================


BALGART-SUU: Under Bankruptcy Supervision
-----------------------------------------
The Issyk-Kul Inter-Regional Court commenced bankruptcy
supervision procedure on LLC Balgart-Suu on January 12, 2005 and
appointed Mr. Beishenaly Kaldybayev (License Number 010)
temporary insolvency manager on Feb. 4, 2005.  The case is
docketed as 03-132/M-2004.  Creditors will meet on February 28,
2005, 10:00 a.m. at Karakol, Oktyabrskaya Str. 27.  Creditors
must submit their proofs of claim and register with the
temporary insolvency manager seven days prior to the meeting.
Proxies must have authorization to vote.

CONTACT:  Mr. Beishenaly Kaldybayev
          Temporary Insolvency Manager
          Karakol, Oktyabrskaya Str. 27
          Phone: (0-39-22) 2-22-04


BAZARKORGON MEENET: Claims Filing Period Expires April
------------------------------------------------------
JSC Bazarkorgon Meenet, which recently became insolvent, will
accept all proofs of claim until April 15, 2005.  Claims must be
mailed to Djalal-Abad region, Bazarkorgon, Osmonova Str. 15.
For more information, call (0-502) 44-71-97.


ELIS: Sets Creditors Meeting Friday
-----------------------------------
The Issyk-Kul Inter-Regional Court commenced bankruptcy
supervision procedure on LLC Elis and appointed Mr. Beishenaly
Kaldybayev (License Number 010) temporary insolvency manager on
Feb. 4, 2005.  The case is docketed as 03-140/M-2004.  Creditors
will meet on February 25, 2005, 10:00 a.m. at Karakol,
Oktyabrskaya Str. 27.  Creditors must submit their proofs of
claim and register with the temporary insolvency manager seven
days prior to the meeting.  Proxies must have authorization to
vote.

CONTACT:  Mr. Beishenaly Kaldybayev
          Temporary Insolvency Manager
          Karakol, Oktyabrskaya Str. 27
          Phone: (0-39-22) 2-22-04


KANTSKI ZAVOD: Calls General Meeting of Creditors
-------------------------------------------------
OJSC Kantski Zavod MVM will hold a general creditors meeting on
March 7, 2005, 10:00 a.m. at Kant, East Industry Zone.

Agenda:

(a) Approval of the 2004 report of Board of Directors;

(b) Approval of the 2004 annual report;

(c) Election of the members of Board's Directors;

(d) Election of auditors;

(e) Opening of a credit line;

(f) Revocation of the decision to rename the company;

(g) Others

CONTACT:  KANTSKI ZAVOD
          Kant, East Industry Zone


KOCHKORBAYEVA: To Hold Public Auction Next Week
-----------------------------------------------
The bidding organizer and insolvency manager of Kochkorbayeva
will sell its properties on February 28, 2005, 10:00 a.m. at
Issyk-Atinsk district, Budenovka, Pushkina Str. 23.  For sale is
a mechanical workshop with equipment.  Starting price is
KGS641,542.

To participate, bidders must deposit an amount equivalent to 10%
of the starting price to the cashier of Kochkorbayeva.  Bids
must be submitted on or before February 25, 2005, 10:00 a.m.
For more information, call (0-502) 60-51-31.


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


EXIDE GLOBAL: Moody's Rates Proposed Senior Unsecured Notes Caa1
----------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating for the
proposed US$350 million issuance of senior unsecured notes by
Exide Technologies, Inc.  The proceeds of these notes will be
used primarily for the purpose of repaying approximately US$250
million of term loan indebtedness under the company's existing
guaranteed senior secured credit agreement.

The approximately US$85 million of excess proceeds expected to
be realized after accounting for fees, expenses, and accrued
interest will be retained in the company for general corporate
purposes.  The proposed notes offering should thereby improve
Exide's available liquidity to cover increased commodity costs,
capital investment, additional restructuring programs, and other
operating needs or actions.

Moody's confirmed Exide's B1 guaranteed senior secured facility
ratings.  The confirmations specifically presume that a
significant reduction in outstanding term loans will occur as a
result of the proposed senior notes issuance.  In the event that
Exide does not successfully execute the proposed senior notes
offering, the guaranteed senior secured debt facility ratings
would have to be lowered to B2.

Moody's downgraded Exide's senior implied rating by one notch to
B2 and its senior unsecured issuer rating by two notches to
Caa1.

These specific rating actions were taken; the outlook is stable:

(a) Assignment of a Caa1 rating for Exide Technologies' US$350
    million of proposed unguaranteed senior unsecured notes due
    2013, to be issued under Rule 144A with registration rights;

(b) Confirmation of the B1 ratings for approximately US$600
    million (to be reduced to approximately US$350 million
    following execution of the proposed senior unsecured notes
    offering) of guaranteed senior secured bank credit
    facilities for Exide Technologies and Exide Global Holdings
    Netherlands CV, consisting of:

(c) US$100 million multi-currency shared U.S. and foreign bank
    revolving credit facility due May 2009;

(d) Approximately US$500 million (U.S. dollar equivalent) in
    aggregate terms loans due May 2010 (consisting of three
    tranches of debt), to be reduced by an estimated US$250
    million from the net proceeds of the proposed senior notes
    offering on a pro rata basis by tranche and maturity date;

(e) Downgrade to B2, from B1, of Exide's senior implied rating;
    and

(f) Downgrade to Caa1, from B2, of Exide's senior unsecured
    issuer rating.

The downgrade of Exide's senior implied rating to B2, from B1,
reflects that according to management's base plan the company is
not expected realize EBIT coverage of cash interest exceeding a
marginal 1.0x level until the fiscal year ending March 2007.
The company's weakened operating cash flow performance was
brought about by sharply increased lead commodity costs
coinciding with the timing of Exide's reorganization, highly
competitive industry conditions, and other factors.

The unanticipated spike in the price of lead had a severe impact
upon cash flows (net impact approximately US$50 million) and
working capital (approximately US$100 million increase) during
the twelve months ended December 2004.  Lead represents about
one-third of the company's cost of goods sold.  Until recently
Exide was also at a notable disadvantage versus competitors due
to the company's inability to enter into hedges for its most
critical raw material until it emerged from bankruptcy during
mid-2004 and was able to locate necessary counter-parties.

While Exide has more recently taken a series of effective steps,
which are enabling the company to mitigate about 70% of the
increased cost of lead, commodity prices today remain high and
volatile and continue to impact operating cash flows.  Exide
also has exposure to certain other commodity prices such as
steel.

In the event that Exide is unable to achieve the anticipated
level of restructuring savings, suffers the loss of a major
contract or customer, or is negatively affected by exposure to
exchange rates, rising interest rates, sub-optimal weather
conditions relating to lead acid battery revenues, or decreased
demand in the industries in which Exide operates, the company's
future cash flow performance could fall behind base case
expectations.

Exide additionally faces ongoing pricing pressure from its
customers given the highly competitive market environment and
continued excess capacity within the battery industry.  Exide's
North American pension plans are significantly under-funded,
with future minimum cash contribution requirements rising to
more than US$20 million per year.

Exide additionally expects to finalize a temporary waiver
received from the IRS regarding the deferral of approximately
US$50 million of minimum funding requirements associated with
2003 and 2004, which would require catch-up payments to be paid
over the subsequent five-year period.  In return, the Pension
Benefit Guaranty Corporation (PBGC) is negotiating receipt of
secondary liens on certain assets of Exide and its domestic and
foreign subsidiaries to cover exposure for the deferred pension
payments.  The exact scope and terms of the second-liens are
currently under negotiation.  Exide has not yet identified who
will take over as the company's new chief executive officer.
The existing CEO previously announced that he plans to step down
from his position in April 2005.

The downgrade of the senior implied rating to B2, from B1,
reflects the issues above which are constraining the company's
operating cash flow generation, as well as several more
favorable attributes of the company, which are beginning to more
effectively offset the negative trends.  The proposed
transaction will partially refinance the existing credit
agreement and thereby result in improved liquidity, a longer-
term debt maturity profile, and significant amendments of
financial covenants expected to provide 15% or greater cushion
versus management's base case projections.  Exide will thereby
have more flexibility to pursue strategic capital investment,
working capital improvement, and additional restructuring
efforts.  Restructuring programs already implemented or in
process should generate annualized cash flow savings that ramp
up to more than $30 million by fiscal 2009.

Exide's management is confident that the company will be able to
mitigate about 70% of future lead price increases through
actions to hedge lead spot prices, increase selling prices,
reduce working capital turnovers, improve spent battery
collection, and generally realize greater benefits from in-house
smelting equipment.  While the impact of lead prices was a
definitive 2004 event with very negative cash flow effects,
Exide's performance did notably show improvement year-over-year
once the impact of lead was excluded from the analysis.  Exide
retains #1 or #2 shares in each of its critical markets globally
and benefits from meaningful brand recognition in the
aftermarkets that it serves.

The confirmation of the B1 senior secured bank ratings reflect
the anticipated US$250 million reduction in commitments and
outstandings following the proposed senior unsecured notes
offering, combined with Moody's assessment that the remaining
senior secured loan exposure will be well supported by a
conservative valuation of the company's assets.

The senior secured lenders hold a first priority perfected
security interest in all stock, equity interests, tangible and
intangible assets and promissory notes of Exide and its domestic
subsidiaries, plus up to 65% of the stock of foreign
subsidiaries of Exide.

The foreign-domiciled facilities are covered by a first priority
perfected security interest in all stock, equity interests,
promissory notes and tangible and intangible assets of all U.S.
and foreign subsidiaries, subject to certain exceptions
including the subsidiaries in Asia and Australia/New Zealand.
The U.S.-domiciled facilities are guaranteed by all direct and
indirect subsidiaries of New Exide.

The foreign-domiciled facilities are guaranteed by all direct
and indirect subsidiaries of New Exide, including foreign
subsidiaries, subject to certain exceptions including the
subsidiaries in Asia and Australia/New Zealand.  A sharing
requirement is also in place which require lenders to purchase
and sell their interests in the outstanding loans and unpaid
drawings so that each lender shall share pro rata in all
outstanding loans and unpaid drawings of each borrower under
each tranche in the event of a bankruptcy event of default, the
termination by the lenders of the commitments under the multi-
currency revolving credit facility, any acceleration of the
loans, or the failure by any Borrower to repay any amounts due
under any tranche of loans at final stated maturity.

The Caa1 rating of Exide's proposed unguaranteed senior
unsecured notes reflects their effective subordination to the
guaranteed senior secured obligations under the credit
agreement, and potentially to second-liens on certain collateral
that are likely to be pledged on behalf of the PBGC to support
about US$50 million of deferred pension contributions.

Moody's notes that in contrast the provisions for the senior
secured credit agreement, none of Exide's domestic subsidiaries
is expected to initially guarantee the notes since none of these
subsidiaries currently has significant assets or operations.
Should conditions change, provisions will exist for certain
domestic subsidiaries to provide guarantees in the future.  Upon
closing the proposed senior unsecured notes will be pari passu
with Exide's trade payables.

Future events that have the potential to lower Exide's outlook
or ratings include an inability fully cover cash interest from
operations or realize leverage reduction within the time frame
estimated; declining margins due to rising commodity prices,
poor cost absorption, ineffective restructuring efforts, or
other factors; lost customers or market share; poor working
capital management; insufficient liquidity, a material
acquisition; larger-than-expected environmental liabilities;
and/or unfavorable negotiations regarding deferral of certain
pension contributions.

Future favorable rating events could include the introduction of
new battery technologies that enhance net new business
prospects, improved working capital management, achievement of
actual debt reductions, realization of substantial net proceeds
from non-core assets sales applied against outstanding debt;
and/or realization of meaningful cash savings following
implementation of the company's restructuring programs.

Pro forma for the proposed US$350 million senior notes offering
and the proposed application of net proceeds, Exide's EBIT
coverage of interest fell considerably below 1.0x, and is not
expected to reach that minimal target until the fiscal year
ending March 2006.  Pro forma total debt/EBITDAR leverage was
approximately 5.0x including only on-balance sheet obligations,
and about 5.9x after treating the present value of operating
leases, accounts receivable securitization usage, letters of
credit and certain other contingencies as debt.  Management's
base case covenant plan presents that this all-in ratio will
improve to 5.0x or better for the fiscal year ending March 2006.
Moody's calculation of EBIT and EBITDA did not include amounts
in other income.

Exide, headquartered in Lawrenceville, NJ, is one of the largest
global manufacturers of lead acid batteries, with net sales
approximating US$2.65 billion.  The company manufactures and
supplies lead acid batteries for transportation and industrial
applications worldwide.

CONTACT:  EXIDE TECHONOLOGIES
          Crossroads Corporate Center
          3150 Brunswick Pike, Suite 230
          Lawrenceville, NJ 08648
          Phone: +1-609-512-3000
          Fax: +1-609-512-3071
          Web site: http://www.exideworld.com


KENDION N.V.: Net Loss Narrows to EUR12.9 Million
-------------------------------------------------
Kendrion N.V. preliminary annual results for 2004
(In millions of euros)
                                              2004    2003
Operating result from core activities
(incl. holding costs) increases with 42%     25.6    18.0
Net result from core activities
(excluding exceptional items)
  increases with 94%                           9.7     5.0
Net result from non-core activities           (1.1)   (3.2)
Exceptional items:
- Net incidental expenses
  and non-recurring financing costs           (5.8)   (5.6)
- Net book profits, impairment,
  selling costs for disposed companies       (15.7) (101.1)
Net result                                   (12.9) (104.9)

Piet Veenema, CEO of Kendrion: "2004 was a difficult year for
Kendrion N.V.  Just before the end of the year an extensive
financial restructuring was finalized which made Kendrion a
healthy company again.  The divestment program of non-strategic
activities, which started in 2003, is almost finalized, which
resulted in further focus in the company.  Now Kendrion can
focus on enlarging its niche positions in the selected business-
to-business markets.  We also would like to thank our
stakeholders for their trust given to the company in 2004."

Course of Business

An organic growth in turnover of 5.8% was achieved in 2004.
This is in line with the target set by Kendrion of at least 5%
organic growth in turnover year-on-year.  The core activities
showed a good improvement in results in 2004.  The operating
result of the Kendrion Industrial Components division rose by
15% to EUR15.8 million (2003: EUR13.7 million).  The operating
result of the Kendrion Distribution Services division rose by
59% to EUR13.3 million (2003: EUR8.4 million).  The return on
sales (ROS) of the core activities rose from 4.1% in 2003 to
4.8% in 2004.  The return on invested capital (ROI) of the core
activities rose from 13% in 2003 to 15.8% in 2004.

The extensive financial restructuring has had a great impact on
the annual result in 2004.  In the end, due to impairments and
high consultancy and refinancing expenses, a loss of EUR12.9
million was suffered in 2004 (2003: EUR104.9 million).
Excluding exceptional items the net result of the core
activities amounted up to EUR9.7 million (2003: EUR5.0 million).

Financial Position

The interest-bearing debt could be reduced substantially in 2004
by the financial restructuring.

At end 2004 the interest-bearing debt amount to EUR115 million
(2003: EUR200 million).  The solvency rate at the end of 2004
(including subordinated loans) is approximately 20%.  As a
result, the basis has been created for Kendrion's successful
future development.  Nevertheless, a further strengthening of
the financial position by further reduction of the interest-
bearing debt continues to be one of Kendrion's most important
aims for 2005.

Acquisitions and Sales

A new branch of Kendrion was opened in Hong Kong for the
Kendrion Metal Components business area in 2004.  That business
area also acquired the company Ferrex Spol s.r.o. in
Slovakia in 2004, and production will start there at the
beginning of 2005.

Already in 2003 Kendrion started with the divestment of non-
strategic activities, which process is almost completed in the
meantime.  In 2004 activities were divested with a total
turnover of approximately EUR310 million.  This was the
consequence of the decision taken by Kendrion to focus on a
number of selected activities and to realize a further growth in
these activities in the future.  The business area Kendrion
Automotive Plastics was almost fully disposed of in the year
under review.  For example, the Kendrion Van Niftrik company was
sold to VoestAlpine and the German Automotive Plastics
activities were sold to Ewing Management Group.  The company
Kupron Prototypes (the Netherlands) (turnover around EUR6
million) is now the only company in this business area that
still forms part of Kendrion N.V.

Finally, the non-core activities GBP Ergonomics (Sweden) and
Kendrion Cetra Metaal (the Netherlands) were disposed of in
2004.

Developments in the Fourth Quarter

Kendrion was able to close the fourth quarter of 2004 well.  The
operating result for both divisions (including holding company
expenses) in the fourth quarter was EUR5.5 million (2003: EUR2.0
million).  Both divisions (Kendrion Industrial Components and
Kendrion Distribution Services) were able to improve the
results.  In the Kendrion Industrial Components division, the
improvement was realized by the Kendrion Electromagnetic
Components business area.  The Kendrion Metal Components
business area had a difficult fourth quarter.  In the Kendrion
Distribution Services division, both the Vink group and the
other distribution activities (Kendrion Fastening and Servico)
had a good fourth quarter.  The efforts to further reduce the
holding company costs sorted effect as well.

Dividend Proposal

The General Meeting of Shareholders to be held on 1 April next
will informed that no dividend will be paid for 2004 in view of
the company's financial position.

Corporate Governance

Kendrion endorses the principles set out in the Corporate
Governance Code.  Developments in that area were monitored
closely in 2004.  The company has set itself the aim and will
strive to create a Corporate Governance structure that
corresponds as closely as possible to the principles and best
practice provisions of the Corporate Governance code.  The
company will explain in its annual report where it will not
comply.  The Articles of Association of Kendrion N.V. are
amended in accordance with present standards and consequently
shareholders have more control.

Supervisory Board

Mr. W. van der Kooij retired early for personal reasons in 2004,
creating a vacancy that has not been filled due to the situation
in which Kendrion found itself in 2004.  Mr. E.C. de la Houssaye
will retire by rotation in 2005 and is not putting himself
forward for reappointment.  At the General Meeting of
Shareholders on 2 April 2004 Mr. H.A. van Karnebeek (Chairman)
stated that he would consider his position on the Board after
the financial restructuring of the company.  Now that the
restructuring has been completed successfully, Mr. van Karnebeek
has decided to make his position available with effect from 1
April 2005.

In accordance with the revised profile of the Supervisory Board,
at least three new Supervisory Board members will have to be
appointed.  We have found Mr. S.J. van Kesteren, until recently
chairman of the Board of Management of Draka Holding N.V., ready
to put himself forward as a candidate for appointment as
Chairman of the Supervisory Board.  In addition, Ms. M.E.P.
Sanders, who is active as a Managing Director of the investment
company Matchem B.V., is willing to take a place on the Board.
Discussions are proceeding at present with several candidates
for the third vacancy.  We expect to make further announcements
on this matter at the General Meeting of Shareholders to be held
in April.

Mr. van Kesteren and Ms Sanders will be proposed to the next
General Meeting of Shareholders for appointment as members of
the Supervisory Board.

Outlook

In 2004 Kendrion completed an extensive financial restructuring.
Most core activities of Kendrion have good market positions and
order portfolios.  As a consequence Kendrion has established a
solid basis for the future.  In the coming years the focus will
be on autonomous growth by means of expanding these market
positions and on control of working capital.  Uncertain is the
development of raw material prices in the coming year and its
effect on Kendrion's activities. Given this uncertainty it is
not possible to give a reliable prognosis about the profit in
2005.

Profile Kendrion N.V.

Kendrion N.V. is an international company, which has,
approximately 2,900 employees in 17 European countries and Hong
Kong.

Kendrion aims at niche market leadership in business-to-business
markets.  Kendrion develops high quality industrial components
and provides services in the field of plastic semi-manufactures
and fasteners.  Motivated local entrepreneurship, quality
management in the broadest sense and logistic expertise are
characteristic of Kendrion.

Kendrion stock is listed on the Euronext Amsterdam stock
exchange and included in the Euronext index NextPrime.

Zeist, 18 February 2005
The Executive Board of Kendrion N.V.

A full copy of the results is available free of charge at
http://bankrupt.com/misc/Kendrion_4Q2004.pdf

CONTACT:  KENDRION N.V.
          Mr. P. Veenema
          Utrechtseweg 33
          3704 HA ZEIST
          Phone: +31 - (0)30 - 699.72.50
          Fax: +31 - (0)30 - 695.11.65
          Web site: http://www.kendrion.com


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


ELEKTRIM SA: Alstom Lodges Bankruptcy Petition
----------------------------------------------
French engineering group Alstom on Friday asked a Warsaw court
to declare Elektrim bankrupt, Polish daily Parkiet said
Saturday.

The petition alleges that Elektrim owes Alstom EUR10-20 million,
stemming from delays in the modernization of the PAK power
plant.  Alstom spokesman Marek Szelewicki said, "We want to use
all possible means to get payment from Elektrim, PAK's strategic
investor and the guarantor of the investment."

Elektrim is currently embroiled in an ownership struggle over
mobile operator PTC.  Deutsche Telekom recently said it would
exercise a right to buy the stake held by Elektrim S.A. in PTC
for EUR1.3 billion.  Deutsche Telekom currently holds a 49%
stake in PTC, while Elektrim Telekomunikacja (ET), a joint
venture of Elektrim and Vivendi Universal, controls the
remaining stake.  In November 2004, a Vienna court ruled that
the 1999 transfer of Elektrim of its stake in PTC was illegal.
It gave Elektrim two months to withdraw from ET, failure of
which will give Deutsche Telekom right to buy the shares.  A
Warsaw court upheld the decision in January, but Vivendi
appealed the ruling saying the call option was invalid.

CONTACT:  ELEKTRIM S.A.
          Panska 77/79
          00-834 Warszawa

          Public relations:
          Ewa Bojar
          Company Spokesman
          Phone: (+48 22) 432 89 55
          Fax: (+48 22) 432 87 99
          E-mail: ewa_bojar@elektrim.pl

          Investor relations:
          Phone: (+48 22) 432 87 75
          Fax: (+48 22) 432 87 99
          Web site: http://www.elektrim.pl


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


AGRO-PLATAVA CRYSTAL: Proofs of Claim Deadline Expires March
------------------------------------------------------------
The Arbitration Court of Voronezh region commenced bankruptcy
proceedings against Agro-Platava Crystal after finding the close
joint stock company insolvent.  The case is docketed as A14-
6215/2004 51/7b.  Mr. B. Borisevich has been appointed
insolvency manager.  Creditors have until March 29, 2005 to
submit their proofs of claim to 308002, Russia, Belgorod, B.
Khmelnitskogo Str. 133 "zh", Office 509.

CONTACT:  AGRO-PLATAVA CRYSTAL
          Russia, Voronezh region,
          Relyevskiy region, Platava

          Mr. B. Borisevich
          Insolvency Manager
          308002, Russia, Belgorod,
          B. Khmelnitskogo Str. 133 "zh", Office 509
          Phone/Fax: 26-17-98


ALAPAEVSKIY MACHINE-TOOL: External Management Procedure Begins
--------------------------------------------------------------
The Arbitration Court of Sverdlovsk region has commenced
external management bankruptcy procedure on open joint stock
company Alapaevskiy Machine-Tool Plant.  The case is docketed as
A60-10355/2004-S2.  Mr. G. Martemyanov has been appointed
external insolvency manager.

CONTACT:  ALAPAEVSKIY MACHINE-TOOL PLANT
          624603, Russia, Sverdlovsk region,
          Alapaevsk, Tokarey Str. 1

          Mr. G. Martemyanov
          External Insolvency Manager
          620027, Russia, Ekaterinburg,
          Post User Box 206


AMUR-PORT: Gives Creditors Until March to File Claims
-----------------------------------------------------
The Arbitration Court of Khabarovsk region has commenced
bankruptcy supervision procedure on open joint stock company
Amur-Port.  The case is docketed as A73-92/2005-9.  Creditors
have until March 1, 2005 to submit their proofs of claim to
681006, Russia Khabarovsk region, Komsomolsk-na-Amure,
Naberezhnaya Str. 7.

CONTACT:  AMUR-PORT
          681006, Russia Khabarovsk region,
          Komsomolsk-na-Amure, Naberezhnaya Str. 7


ATLASOVO: Insolvency Manager to Temporarily Oversee Operations
--------------------------------------------------------------
The Arbitration Court of Kamchatka region commenced bankruptcy
proceedings against Atlasovo after finding the close joint stock
company insolvent.  The case is docketed as A24-1138/04-13.  Mr.
S. Denisenko has been appointed insolvency manager.  Creditors
have until March 29, 2005 to submit their proofs of claim to
683042, Russia, Petropavlovsk-Kamchatskiy, 42, Post User Box 11.

CONTACT:  ATLASOVO
          684309, Russia, Kamchatka region,
          Milkovskiy region, Atlasovo, Leningradskaya Str. 1

          Mr. S. Denisenko
          Insolvency Manager
          683042, Russia,
          Petropavlovsk-Kamchatskiy, 42, Post User Box 11


BELOGORSK-GAS: Bankruptcy Hearing Resumes May
---------------------------------------------
The Arbitration Court of Amur region has commenced bankruptcy
supervision procedure on open joint stock company Belogorsk-Gas.
The case is docketed as A04-9883/04-17/202 B.  Mr. N.
kolyadinskiy has been appointed temporary insolvency manager.  A
hearing will take place at the Arbitration Court of Amur region
on May 5, 2005, 8:15 a.m.

CONTACT:  BELOGORSK-GAS
          676850, Russia, Amur region,
          Belogorsk, Melkombinat Str. 20A


DALNEVOSTOCHNYJ COMMERCIAL: Under Bankruptcy Supervision
--------------------------------------------------------
The Arbitration Court of Primorye region has commenced
bankruptcy supervision procedure on open joint stock company
Dalnevostochnyj Commercial Refrigerator.  The case is docketed
as A51-19615/2004 9-177/11.  Mr. R. Kondratov has been appointed
temporary insolvency manager.

Creditors may submit their proofs of claim to 690012, Russia,
Vladivostok, Khersonskaya Str. 5.  A hearing will take place on
April 20, 2005, 10:00 a.m.

CONTACT:  DALNEVOSTOCHNYJ COMMERCIAL REFRIGERATOR
          Russia, Primorye region,
          Vladivostok, Berth #44

          Mr. R. Kondratov
          Temporary Insolvency Manager
          690012, Russia,
          Vladivostok, Khersonskaya Str. 5

          The Arbitration Court of Primorye Region
          Russia, Vladivostok,
          Svetlanovskaya Str. 54, Room 313


DON-AIR-CENTRE: Voronezh Court Opens Bankruptcy Proceedings
-----------------------------------------------------------
The Arbitration Court of Voronezh region has commenced
bankruptcy supervision procedure on air-company Don-Air-Centre.
The case is docketed as A14-16924-2004/84/20b.  Mr. L. Yashkin
has been appointed temporary insolvency manager.

Creditors have until March 1, 2005 to submit their proofs of
claim to 394025, Russia, Voronezh, Kholzunova Str. 10, Apartment
76.  A hearing will take place on April 28, 2005, 10:00 a.m.

CONTACT:  DON-AIR-CENTRE
          394025, Russia, Voronezh, Airport

          Mr. L. Yashkin
          Insolvency Manager
          394025, Russia, Voronezh,
          Kholzunova Str. 10, Apartment 76

          The Arbitration Court of Voronezh Region
          Russia, Voronezh,
          Srednemoskovskaya Str. 77, Room 501


LERMONTOVSKAYA ORE-MINING: Claims Filing Deadline March 29
----------------------------------------------------------
The Arbitration Court of Primorye region commenced bankruptcy
proceedings against Lermontovskaya Ore-Mining Company after
finding the open joint stock company insolvent.  The case is
docketed as A51-15950/03/9-297.  Mr. B. Medvedev has been
appointed insolvency manager.  Creditors have until March 29,
2005 to submit their proofs of claim to 690065, Russia,
Vladivostok, Sipyagina Str. 22, Apartment 80.

CONTACT:  LERMONTOVSKAYA ORE-MINING COMPANY
          692028, Russia, Primorye region,
          Pozharskiy region, Svetlogorye

          Mr. B. Medvedev
          Insolvency Manager
          690065, Russia, Vladivostok,
          Sipyagina Str. 22, Apartment 80


METROMEDIA INTERNATIONAL: Selling PeterStar for US$215 Million
--------------------------------------------------------------
Metromedia International Group, Inc. on Friday said it entered
into a definitive agreement with First National Holding S.A.
(FNH), Emergent Telecom Ventures S.A. and Pisces Investment
Limited to sell its entire interest in ZAO PeterStar for US$215
million in cash.  PeterStar is the leading competitive local
exchange carrier in St. Petersburg, Russia.  Pisces is a company
organized under the Companies Law of Cyprus and a wholly owned
subsidiary of FNH and Emergent.

Consummation of the transaction set forth in the agreement is
principally subject only to a vote of a majority of the holders
of the Company's common stock and the continued accuracy of
certain customary Company representations concerning its
ownership of, and authority with respect to the sale of, the
interests being sold.  Assuming approval by a majority of the
holders of the Company's common stock, the Company presently
expects to consummate the sale of PeterStar during the third
quarter of this year.

The Company will utilize a portion of the proceeds of the sale
to retire all of the Company's outstanding US$152.0 million
10.5% Senior Discount Notes due 2007.  The Company also
presently expects that it will be able to utilize its 2004 tax
attributes (capital loss carry-forwards and net operating loss
carry-forwards) and anticipated 2005 losses to offset any
federal or state tax gain that would be recognized on the sale
of PeterStar.

Upon completion of this sale, the Company's principal business
operations will include Magticom Ltd., the leading Georgian
mobile telephony operator, and Telecom Georgia, a well-
positioned Georgian long distance telephony operator.  The
Company intends to continue active development of these and
other Georgian business interests.

Mark Hauf, the Chairman and Chief Executive Officer of the
Company, said: "I believe that this sale of our interests in
PeterStar provides an extraordinary value for our stakeholders.
Our development strategy for PeterStar over the past two years
and the excellent performance of the PeterStar management team
resulted in PeterStar becoming a highly strategically sought
after Russian telephony business.  The value we are offered for
PeterStar, represents one of the higher earnings multiples paid
for a business of this kind in the region over recent years and
is the ultimate fruit of those efforts."

Mr. Hauf commented further: "Assuming approval by our
shareholders, we will emerge from this sale of PeterStar
essentially debt free and having sufficient cash on hand to
pursue further development of our business interests in Georgia.
I believe we are presented with exciting opportunities for
further development in Georgia, reinforced by the recent
strengthening of ownership position in our core Georgian
businesses and the continued strong performance of Magticom.

"I have assured the government of Georgia and our business
partners in Georgia that the Company's strategic commitment to
enthusiastic development of telecommunications business in that
country remains firm.  In summary, I believe the events of
recent weeks and the intense corporate restructuring efforts
that preceded them have gone far towards producing a revival of
the Company and genuine value for its stakeholders."

Evercore Partners acted as financial advisor to MIG in this
transaction and Paul, Weiss, Rifkind, Wharton & Garrison LLP
acted as legal advisor to MIG.

About Metromedia International Group

Through its wholly owned subsidiaries, the Company (OTCBB: MTRM)
(PINK SHEETS: MTRMP) owns interests in communications businesses
in the countries of Russia and Georgia.  Since the first quarter
of 2003, the Company has focused its principal attentions on the
continued development of its core telephony businesses, and has
substantially completed a program of gradual divestiture of its
non-core cable television and radio broadcast businesses.  The
Company's core telephony businesses include PeterStar and
Magticom, Ltd., the leading mobile telephony operator in
Georgia.

Additional information and where to find it:

The Company intends to file with the U.S. S.E.C. a proxy
statement and other relevant documents in connection with the
proposed sale of the Company's interest in PeterStar to the
Buyers.  Investors and security holders of the Company are urged
to read the proxy statement and other relevant documents when
they become available because they will contain important
information about the Company, the Buyers and the proposed sale.

Investors and security holders of the Company may obtain free
copies of the proxy statement and other relevant documents filed
with the U.S. S.E.C. (when they become available) at
http://www.sec.govand at http://www.metromedia-group.com. In
addition, investors and security holders of the Company may
obtain free copies of the proxy statement (when it becomes
available) by writing to 8000 Tower Point Drive, Charlotte, NC
28227, Attention: Investor Relations, or by e-mailing to
investorrelations@mmgroup.com.

The Company and its directors, executive officers, certain
members of management and certain employees may be deemed to be
participants in the solicitation of proxies in respect of the
proposed sale.  A description of the interests in the Company of
its directors and executive officers is set forth in the
Company's annual report on Form 10-K for the fiscal year ended
December 31, 2003 filed with the U.S. S.E.C. on May 26, 2004 and
in the Company's proxy statement for its 2003 annual meeting of
stockholders filed with the U.S. S.E.C. on October 20, 2003.

Additional information regarding the persons who may, under the
rules of the U.S. S.E.C., be deemed participants in the
solicitation of proxies in connection with the proposed sale,
and a description of their direct and indirect interests in the
proposed sale, will be set forth in the proxy statement when it
is filed with the U.S. S.E.C.

CONTACT:  METROMEDIA INTERNATIONAL GROUP, INC.
          Ernie Pyle
          Phone: 704-321-7380
          E-mail: investorrelations@mmgroup.com
          Web site: http://www.metromedia-group.com


MOSCOW TRACT: Creditors Have Until Next Month to File Claims
------------------------------------------------------------
The Arbitration Court of Tyumen region commenced bankruptcy
proceedings against Moscow Tract, 120 (TIN 7204002986) after
finding the property complex insolvent.  The case is docketed as
A-70-11189/3-04.  Mr. D. Enbaev has been appointed insolvency
manager.  Creditors have until March 1, 2005 to submit their
proofs of claim to Russia, Tyumen region, Borovskiy, Sovetskaya
Str. 23, Apartment 19.

CONTACT:  MOSCOW TRACT, 120
          Russia, Tyumen, Moscow Tract Str. 120

          Mr. D. Enbaev
          Insolvency Manager
          Russia, Tyumen region, Borovskiy,
          Sovetskaya Str. 23, Apartment 19


YUKOS OIL: Posts Claims Category, Treatment Under Chap. 11 Plan
---------------------------------------------------------------
Under its Plan of Reorganization, YUKOS Oil Company groups
claims and interests into nine classes.

Class   Description                Treatment
-----   -----------                ---------
  n/a    Administrative Claims      Paid in full, in cash.

  n/a    Priority Tax Claims        Paid in full, in cash.

   1     Priority Non-Tax Claims    Paid in full, in cash.

   2     Secured Claims             Each holder of an Allowed
                                    Claim in Class 2 will
                                    receive in full
                                    satisfaction, settlement,
                                    release, and discharge of,
                                    and in exchange for that
                                    Allowed Claim treatment in
                                    the manner set forth in
                                    Option A, B or C, at the
                                    election of the Debtor.  The
                                    Debtor will be deemed to
                                    have elected Option B except
                                    with respect to any Allowed
                                    Claim as to which the Debtor
                                    elects Option A or Option C
                                    in one or more
                                    certifications filed prior
                                    to the conclusion of the
                                    Confirmation Hearing.

                                    Option A:

                                    Paid in Cash, in full.

                                    Option B:

                                    Claim will be Reinstated.

                                    Option C:

                                    Holder will receive
                                    collateral securing the
                                    Allowed Claim.

   3     General Unsecured Claims   Each holder will receive on
                                    account of its Allowed
                                    General Unsecured Claim, in
                                    full satisfaction,
                                    settlement, release and
                                    discharge of the Allowed
                                    General Unsecured Claim,
                                    distributions in an
                                    aggregate amount equal to
                                    that holder's Pro Rata Share
                                    of (i) Creditor Cash and
                                    (ii) Litigation Trust
                                    Interests.

                                    Holders of Allowed Claims of
                                    $50,000 or more; or Holders
                                    who elect to reduce their
                                    Allowed Claims to $50,000
                                    will receive Cash in an
                                    amount equal to the
                                    applicable Convenience Claim
                                    Distribution Percentage of
                                    that Allowed Convenience '
                                    Claim.

   4     Yukos Guaranty Claims      Each holder of an Allowed
                                    Yukos Guaranty Claim will be
                                    entitled to receive
                                    distributions in an
                                    aggregate amount equal to
                                    that holder's Pro Rata Share
                                    of (i) Creditor Cash and
                                    (ii) Litigation Trust
                                    Interests.

                                    Holders of Allowed Claims of
                                    $50,000 or more; or Holders
                                    who elect to reduce their
                                    Allowed Claims to $50,000
                                    will receive Cash in an
                                    amount equal to the
                                    applicable Convenience Claim
                                    Distribution Percentage of
                                    that Allowed Convenience
                                    Claim; provided, however,
                                    that, under no
                                    circumstances, will a holder
                                    of an Allowed Yukos Guaranty
                                    Claim receive aggregate
                                    distributions in excess of
                                    100% of that holder's
                                    corresponding Allowed
                                    General Unsecured Claim.

   5     Convenience Claims         Each holder of an Allowed
                                    Convenience Claim against a
                                    Debtor will receive Cash in
                                    an amount equal to the
                                    applicable Convenience Claim
                                    Distribution Percentage of
                                    that Allowed Convenience
                                    Claim.

   6     Claims of Yukos            Existing & Former Yukos
         Subsidiaries               Subsidiary Claims will be
                                    listed by the Debtor in its
                                    Schedules of Assets and
                                    Liabilities as disputed.
                                    Any Allowed Existing &
                                    Former Yukos Subsidiary
                                    Claim will be entitled to
                                    treatment as an Allowed
                                    Class 7 Claim and will
                                    receive distributions, if
                                    any, pari passu with other
                                    holders of Allowed Class 7
                                    Claims.

   7     Subordinated Claims        No distribution until all
                                    Allowed Claims in Class 3, 4
                                    and 5 have been paid 100%.
                                    Thereafter, any distribution
                                    to Allowed Class 7 Claims
                                    will be pari passu.

   8     Claims of Holders of       On the Effective Date, the
         Existing Preferred Stock   rights of Holders of
                                    Existing Preferred Stock as
                                    of the Distribution Record
                                    Date will be Reinstated,
                                    subject to certain
                                    limitations and
                                    restrictions.

   9     Claims of Holders of       On the Effective Date, the
         Existing Common Stock      rights of Holders of
                                    Existing Common Stock as of
                                    the Distribution Record Date
                                    will be Reinstated, subject
                                    to certain limitations and
                                    restrictions.

Headquartered in Houston, Texas, Yukos Oil Company --
http://www.yukos.com/-- is an open joint stock company existing
under the laws of the Russian Federation.  Yukos is involved in
the energy industry substantially through its ownership of its
various subsidiaries, which own or are otherwise entitled to
enjoy certain rights to oil and gas production, refining and
marketing assets.  The Company filed for chapter 11 protection
on Dec. 14, 2004 (Bankr. S.D. Tex. Case No. 04-47742).  Zack A.
Clement, Esq., C. Mark Baker, Esq., Evelyn H. Biery, Esq., John
A. Barrett, Esq., Johnathan C. Bolton, Esq., R. Andrew Black,
Esq., Fulbright & Jaworski, LLP represent the Debtor in its
restructuring efforts.  When the Debtor filed for protection
from its creditors, it listed $12,276,000,000 in total assets
and $30,790,000,000 in total debt.  (Yukos Bankruptcy News,
Issue No. 9; Bankruptcy Creditors' Service, Inc., 215/945-7000)

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com
          International Information Department
          Hugo Erikssen
          Phone: +7 095 540 6313
          E-mail: inter@yukos.ru

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

          Investor Relations Contact
          Alexander Gladyshev
          Phone: +7095 788 00 33
          E-mail: investors@yukos.ru


YUKOS OIL: Files Statement of Financial Affairs
-----------------------------------------------
Bruce K. Misamore, Chief Financial Officer of Yukos Oil Company,
discloses that for the past three years, Yukos' business
operations generated income totaling:

          Period                          Amount
          ------                          ------
          01/01/04 - 09/30/04         $178,258,977
          01/01/03 - 12/31/03          237,607,160
          01/01/02 - 12/31/02          774,131,531

From other sources, Yukos earned these amounts:

          Period                          Amount
          ------                          ------
          01/01/04 - 09/30/04           $8,213,530
          01/01/03 - 12/31/03           51,721,860
          01/01/02 - 12/31/02           11,118,770

Fiscal Year 2003 is primarily comprised of a gain from
securities transactions.  Fiscal Year 2002 is primarily
comprised of gains from securities transactions, account payable
write-offs resulting in forgiveness of debt, and miscellaneous
income.

The amounts listed in Yukos' generated income were converted
from Russian Rubles to U.S. Dollars utilizing the average
exchange rates for the specific period:

          Period                          Rates
          ------                          -----
          01/01/04 - 09/30/04            $28.90
          01/01/03 - 12/31/03             30.66
          01/01/02 - 12/31/02             31.37

Within the 90-day period immediately preceding the Petition
Date, Yukos paid $1,396,556,920 to its creditors, including:

     Creditor                              Date         Amount
     --------                              ----         ------
     KhMAO Region Treasury Dept. of
       Ministry of Finance                 9/15/04   $23,733,495

     KhMAO Region Treasury Dept. of
       Ministry of Finance                 9/17/04   106,104,191

     KhMAO Region Treasury Dept. of
       Ministry of Finance                10/01/04    31,942,117

     Moscow Dept. of Ministry of Justice  10/12/04    21,420,989

     Moscow Dept. of Ministry of Justice  10/18/04    42,725,073

     Moscow Dept. of Ministry of Justice  10/18/04   105,726,700

     Moscow Dept. of Ministry of Justice  10/19/04    53,240,988

     Moscow Dept. of Ministry of Justice  10/20/04   131,551,303

     Moscow Dept. of Ministry of Justice  10/26/04    92,467,712

     Moscow Dept. of Ministry of Justice  10/26/04   118,196,780

     Moscow Dept. of Ministry of Justice  10/27/04    48,614,518

     Moscow Dept. of Ministry of Justice  11/03/04    32,725,887

     Moscow Dept. of Ministry of Justice  11/10/04    23,142,719

     Moscow Dept. of Ministry of Justice  11/24/04    52,006,649

     Moscow Dept. of Ministry of Justice  12/03/04    35,200,280

     KhMAO Region Treasury Dept. of
       Ministry of Finance                12/14/04    43,549,102

     Others                                          434,208,417

The amounts paid to Yukos' creditors were converted from Russian
Rubles to U.S. Dollars using the average exchange rate for the
90-day period from September 15, 2003, to December 14, 2004,
which was of $28.76s.

Due to time constraint and difficulty searching Yukos' database,
Mr. Misamore relates that the list of payments to insiders has
not yet been refined as of February 9, 2005.  However, Yukos
provided the Court with a 697-page list of payments, inclusive
of all payments made to any insider.

Mr. Misamore further discloses that Yukos is a party to 73
lawsuits that are now pending or stayed in the courts where they
were filed.

Mr. Misamore also notes that on April 16, 2004, the Russian
Government arrested Yukos' stock holdings of all first tier
subsidiaries, including oil and gas exploration and production
and refining and marketing subsidiaries, for the Russian
Federation Ministry for Taxes and Levies' benefit.

Within one year preceding the Petition Date, Yukos gave gifts
and made charitable contributions totaling $61,293,000.  In the
same period, Yukos paid Fulbright & Jaworski, LLP $5,519,561 in
legal fees:

   Payor                            Description      Net Payment
   -----                            -----------      -----------
   Yukos Oil from Proceeds of       Legal
   Loans from Yukos Hydrocarbons    Prepetition Fees    $519,561

   Yukos Oil from Proceeds of
   Loan from Brittany Assets
   Limited, a B.V.I. Company        Retainer           5,000,000

Yukos made several set-offs to various entities totaling
$1,396,549,398, within the 90-day period preceding the Petition
Date.  Mr. Misamore points out that during the 90 days prior to
the Petition Date, various Russian taxing authorities seized
$1,390,549,398 from Yukos' bank accounts.  Yukos believes that
these amounts have been applied as a setoff against the asserted
tax claims and penalties.

Pursuant to a comprehensive agreement, YUKOS-Finansovo
Buhgaltersky Center keeps and maintains all of Yukos' financial
books and records since January 2001.  PricewaterhouseCoopers
Moscow was retained by Yukos on December 31, 2003, to perform
auditing services.

Through September 30, 2003, Yukos submitted their consolidated
financial statements to the Securities and Exchange Commission
using the U.S. GAAP.  As a result, the company's consolidated
financial statements are publicly available.  In addition, Yukos
generally provided their consolidated and consolidating
financial statements directly to their primary lenders, and in
certain circumstances, to other parties in the ordinary course
of business, including in support of requests for extensions of
trade credit and in connection with investor relations
correspondence.  Quarterly, Yukos submitted its Russian GAAP
financial statement in accordance with local requirements to the
Russian Tax Authorities.

According to Mr. Misamore, as of February 9, 2005, Yukos'
insiders are:

    Current Directors                    Title
    -----------------                    -----
    Viktor Gerashchenko                  Chairman of the Board
    Alexei Kontorovich                   Director
    Bernard Loze                         Director
    Francois Buclez                      Director
    Yurii Golubev                        Director
    Yurii Pokholkov                      Director

    Current Officers                     Title
    -----------------                    -----
    Yukos Moscow
    (Members of Managing Board)          Chief Executive Officer
    Bruce Misamore                       Chief Financial Officer
    Irina Golub                          Chief Accounting
                                         Officer

    Current Managing Board Members
    of Yukos Moscow                      Title
    -----------------                    -----
    Yukos Moscow
    (Members of Managing Board)          Chief Executive Officer
    Steven Theede                        Managing Board Chairman
    Bruce Misamore                       Active
    Alexander Temerko                    Active
    Mikhail Elfimov                      Active
    Yurii Beilin                         Active

Known stockholders who directly or indirectly own, control, or
hold 5% or more of the voting or equity securities of Yukos are:

    Name of Shareholder         Percentage of Stock Ownership
    -------------------         -----------------------------
    Hully Enterprises                    48.70%
    Millhouse Capital (SPV)              10.00% - 26.00%
    Veterans Petroleum Trust             10.09%

Seven individuals have resigned from Yukos' Board of Directors:

    Name                       Title           Reason
    ----                       -----           ------
    Simon Kukes                Board Chairman  Replaced by Vote
    Mikhail Khodorkovsky       Director        Replaced by Vote
    Edgar Ortiz                Director        Resigned
    Jacques Kosciusko-Morizet  Director        Resigned
    Michel Soublin             Director        Resigned
    Raj Gupta                  Director        Resigned
    Sarah Carey                Director        Resigned

Mr. Misamore notes that although these individuals have resigned
as members of the Board of Directors, Russian law does not
permit formal dismissal of duties until approved by a
shareholders' meeting.  Therefore, their formal resignations
have not been completed.

Headquartered in Houston, Texas, Yukos Oil Company --
http://www.yukos.com/-- is an open joint stock company existing
under the laws of the Russian Federation.  Yukos is involved in
the energy industry substantially through its ownership of its
various subsidiaries, which own or are otherwise entitled to
enjoy certain rights to oil and gas production, refining and
marketing assets.  The Company filed for chapter 11 protection
on Dec. 14, 2004 (Bankr. S.D. Tex. Case No. 04-47742).  Zack A.
Clement, Esq., C. Mark Baker, Esq., Evelyn H. Biery, Esq., John
A. Barrett, Esq., Johnathan C. Bolton, Esq., R. Andrew Black,
Esq., Fulbright & Jaworski, LLP represent the Debtor in its
restructuring efforts.

When the Debtor filed for protection from its creditors, it
listed $12,276,000,000 in total assets and $30,790,000,000 in
total debt.  (Yukos Bankruptcy News, Issue No. 10; Bankruptcy
Creditors' Service, Inc., 215/945-7000)

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com
          International Information Department
          Hugo Erikssen
          Phone: +7 095 540 6313
          E-mail: inter@yukos.ru

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

          Investor Relations Contact
          Alexander Gladyshev
          Phone: +7095 788 00 33
          E-mail: investors@yukos.ru


YUKOS OIL: Releases Schedules of Assets and Liabilities
-------------------------------------------------------

A.   Real Property                                         None

B.   Personal Property
B.2  Bank Accounts
        JSC Banque Societe General Vostok Moscow    $10,272,838
        Southwest Bank of Texas                       1,980,439
        Bank "Menatep St. Petersburg" (OJSC)
          Krasnoyarsk Branch                                498
        Trust Investment Bank                               330
B.12 Stocks and interests in businesses         $16,437,571,767

      A free copy of the list of stocks & interests
      is available at
      http://bankrupt.com/misc/yukosstocks&interests.pdf

B.14 Government and corporate bonds
        Short term loans                            $52,777,704
        Various bills of exchange                   216,788,513
        Other short term investments                 22,461,968
        General Reserve                              (1,493,968)
B.15 Accounts Receivable
        Third Party
          Irkutsk custom                              7,893,194
          OOO BaltTrans Service                       5,485,662
          China International United Petroleum        4,747,839
          OAO YatutskGazprom                          3,603,772
          Legal bureau Reznik, Gagarin,
            Abushakhmin and partners                  2,814,730
          Energy Custom of Russian Federation         2,808,138
          FONTANA GROUP S.A.                          1,982,400
          State Customs Committee of Russia           1,928,505
          REID Minty Office Account                   1,850,625
          OOO PRO VISION Group                        1,436,487
          OOO Dinamo Moskva                           1,285,376
          AKB Investment Bank Trust                   1,113,100
          Fond analiticheskikh program Expertiza        997,344
          Legal Bureau Padva and Partners               930,987
          OOO NAFAPAL                                   803,808
          GUP Vostochno-Sibirskaya Railroad             634,676
          ZAO Gotodskoy Center bronirovaniya I Turizma  620,114
          OAO Izvestiya editorial                       562,764
          Novokuybyshevsky Neftekhimichesky kombinat    537,091
          Ministry of Defense of Russian Federation     516,443
          Others                                     15,334,464
        Intercompany
          OOO YUKOS Import                          921,553,470
          Routhenhold Holdings LTD                  558,071,890
          OOO YUKOS Vostok Trade                    263,549,668
          ZAO YUKOS Mamontovo                       140,635,156
          OOO Energotrade                           104,992,962
          OAO Tomskneft VNK                          64,951,340
          OOO Yukos Export Trade                     57,961,044
          OAO Samaraneftegaz                         56,378,727
          OAO Yuganskneftegas                        52,141,363
          OOO SIBINTEK-Leasing                       11,742,780
          OOO Torgovyi Dom YUKOS-M                    4,780,870
          A.B. Mazeikiu Nafta                         3,906,541
          OAO Novokuybyshevsky NPZ                    3,058,838
          OAO Kuybyshevsky NPZ                        2,967,633
          ZAO YUKOSTransService (Angarsk Branch)      2,836,745
          ZAO YUKOS Refining and Marketing            1,517,776
          OOO Strejevskoy NPZ                           994,635
          OOO Yukos Moskva                              745,143
          NGO Mejotraslevoy Tekhnologischeskyi Inst.    617,978
          OOO Zapadno-Malobalykskoe                     550,223
          Others                                      2,225,861
B.17 Liquidated Claims
        Long Term Loans                              19,501,010
B.22 Licenses, franchises and other intangibles
        Various oil and gas licenses                 19,888,349
        Various software licenses                     9,018,373
        Other intangibles                               265,316
B.23 Transportation                                     361,332
B.27 Machinery, fixtures, equipment and supplies
        Various materials and equipment               4,837,966
        Various pipelines and gathering systems      22,739,605
B.28 Inventory
        Raw materials                                12,903,033
        Finished Products                             1,918,728
B.33 Other Assets
        Costs associated with drilling oil
          and gas wells                              34,317,834
        Various temporary buildings                   3,921,526
        Infrastructure and auxiliary facilities      55,756,905
        Various other fixed assets                    2,905,168
        Various prepaid expenses                     15,489,178
        Infrastructure and auxiliary facilities
          in process                                126,594,692

               TOTAL SCHEDULED ASSETS           $19,384,847,493
               ================================================

C.   Property Claims As Exempt                   Not Applicable

D.   Secured Claims                                           0

E.   Unsecured Priority Claims
        Russian Federation Ministry for Taxes
          and Levies                            $23,007,556,307
        Energy Custom of Russian Federation          15,653,120
        Finance Dept. of Pyt-yakh City Admin.         1,218,128
        State Property Committee (Xanty-mansyisk)       617,388
        OAO Obneftegazgeologiya                         524,790
        OOO Service-Nafta                               355,509
        Achinsk City Administration                     109,969
        Krasnoyarsk Custom                               87,947
        Tomsk Taxes                                      12,610
        Bailiff's Office (Novokuybyshevsk)                   72

F.   Unsecured Nonpriority Claims
        Bank Debt
          Societe Generale - Bank group Agent       525,806,280
          Societe Generale - Shareholders' agent    804,875,408
        Non-affiliate Debt
          OAO AK Transneft                          106,816,721
          OOO Macro-Trade                            22,237,484
          OAO Bank MENATEP SPb (Moscow Branch)        2,928,271
          OOO Yupiter XXIV                            2,896,773
          BCEN Eurobank                               2,167,975
          OOO Kargill Yug                             1,520,462
          OOO Sovgeolnfo                              1,037,886
          OOO Prikasplyskburnegt-Povolgie             1,012,795
          OOO NPO Intekh                                910,493
          ZAO Investpribor                              863,655
          ZAO Tyumenskaya complexnaya                   812,371
            geologorazvedochnaya expeditzia
          OOO Venera XXI                                745,241
          ZAO PricewaterhouseCoopers Audit              568,930
          Others                                      4,163,931
        Intercompany Debt
          Loans
            Brittnay Assets Limited                   5,000,000
            Yukos USA                                21,500,000
            Y-Mordoviya                           3,454,191,716
            YUKOS Capital S.A.R.L.                3,348,902,281
            Yukos Hydrocarbons Investment             1,000,000
          Accounts Payable                        3,828,989,268
            Energotrade OOO                       2,576,779,092
            OAO Tomsneft VNK                        466,295,056
            OOO YUKOS Vostok Trade                  413,489,681
            OAO Samaraneftegaz                       87,553,795
            OOO Fargoil                              76,269,941
            ZAO YUKOS-M                              70,453,568
            OOO YUKOS-Moskva                         45,496,055
            OOO YUKOS Expert Trade                   28,978,915
            OOO Zapadno-Malobalyskoe                 28,869,186
            Evoil OOO                                 5,640,903
            ZAO YUKOS Exploration & production        3,698,335
            OAO VSNK                                  3,697,825
            OAO Voronezhnefteprodukt                  3,369,527
            JSC Mazeikiu Nafta                        2,172,284
            ZAO Orelnefteprodukt                      2,082,980
            ZAO Lipetzknefteproduckt                  1,876,618
            OAO Belgorodnefteprodukt                  1,785,645
            OAO Tomsknefteprodukt VNK                 1,499,169
            OOO Y-Mordovia                            1,329,382
            ZAO Ulyanovsknefteprodukt                 1,143,475
            ZAO Bryansknefteprodukt                   1,111,584
            ZAO Sibirskaya Servisnaya Kompaniya       1,105,468
            ZAO YUKOS - Transservice (Angarsk)          781,435
            ZAO YUKOS Refining and Marketing            691,924
            ZAO Penzanefteprodukt                       673,725
            OOO Sibintek                                599,263
            Others                                    1,544,438
        Previously Affiliated Companies
          OAO Yuganskneftegas                     2,349,980,377

               TOTAL SCHEDULED DEBT             $37,515,064,157
               ================================================

Headquartered in Houston, Texas, Yukos Oil Company --
http://www.yukos.com/-- is an open joint stock company existing
under the laws of the Russian Federation.  Yukos is involved in
the energy industry substantially through its ownership of its
various subsidiaries, which own or are otherwise entitled to
enjoy certain rights to oil and gas production, refining and
marketing assets.  The Company filed for chapter 11 protection
on Dec. 14, 2004 (Bankr. S.D. Tex. Case No. 04-47742).  Zack A.
Clement, Esq., C. Mark Baker, Esq., Evelyn H. Biery, Esq., John
A. Barrett, Esq., Johnathan C. Bolton, Esq., R. Andrew Black,
Esq., Fulbright & Jaworski, LLP, represent the Debtor in its
restructuring efforts.  When the Debtor filed for protection
from its creditors, it listed
$12,276,000,000 in total assets and $30,790,000,000 in total
debt.  (Yukos Bankruptcy News, Issue No. 10; Bankruptcy
Creditors' Service, Inc., 215/945-7000)

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com
          International Information Department
          Hugo Erikssen
          Phone: +7 095 540 6313
          E-mail: inter@yukos.ru

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

          Investor Relations Contact
          Alexander Gladyshev
          Phone: +7095 788 00 33
          E-mail: investors@yukos.ru


ZEYA: Hires A. Shilova as Insolvency Manager
--------------------------------------------
The Arbitration Court of Amur region commenced bankruptcy
proceedings against Zeya (TIN 2805003689) after finding the agro
firm insolvent.  The case is docketed as A04-4229/04-6/210 B.
Ms. A. Shilova has been appointed insolvency manager.  Creditors
may submit their proofs of claim to 675000, Russia, Amur region,
Blagoveshensk, Pervomayskaya Str. 1, Office 204.

CONTACT:  ZEYA
          676200, Russia, Amur region,
          Zeya, Lenina Str. 105

          Ms. A. Shilova
          Insolvency Manager
          675000, Russia, Amur region, Blagoveshensk,
          Pervomayskaya Str. 1, Office 204


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


SWISS INTERNATIONAL: To Disconnect 3 of 4 Call Centers
------------------------------------------------------
Loss-making carrier Swiss International Air Lines will close
three of its four call centers to save CHF6 million a year,
Reuters reports.

The closure of the Lugano, Geneva and Zurich call centers will
affect 140 employees.  The company, however, will expand the
remaining call center in Basel by adding at least ten employees.

Formed out of the merger of bankrupt national flag carrier
Swissair and regional carrier Crossair, Swiss International
continues to struggle amidst strong competition pose by premium
carriers and low-cost airlines.  It recently reported an
improved EBIT of -CHF122 million from -CHF498 million in 2003.
The will release its full-year financial results on March 11.
It expects to be in black next year.

CONTACT:  SWISS INTERNATIONAL
          Corporate Communications
          P.O. Box, CH-4002 Basel
          Phone: +41 (0) 848 773 773
          Fax: +41 (0) 61 582 3554
          E-mail: communications@swiss.com
          Web site: http://www.swiss.com


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


BUDMATERIALI: Declared Insolvent
--------------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Budmateriali (code EDRPOU 25337893) on
December 16, 2004 after finding the limited liability company
insolvent.  The case is docketed as 15/198 B.  Arbitral manager
Mrs. Ludmila Sirivlya (License Number AA 779117) has been
appointed liquidator/insolvency manager.

Creditors may submit their proofs of claim to:

(a) BUDMATERIALI
    83023, Ukraine, Donetsk region,
    Moskovska Str. 36-B

(b) Mrs. Ludmila Sirivlya
    Liquidator/Insolvency Manager
    83055, Ukraine, Donetsk region,
    Gorkij Str. 158

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


GRIFON: Odesa Court Opens Bankruptcy Proceedings
------------------------------------------------
The Economic Court of Odesa region commenced bankruptcy
supervision procedure on LLC Grifon (code EDRPOU 31116578) on
October 6, 2004.  The case is docketed as 7/209-04-7512.
Arbitral manager Mr. Valerij Brikulskij (License Number AA
249867) has been appointed temporary insolvency manager.  The
company holds account number 260033013593 at JSCB Finbank, MFO
328685.

CONTACT:  GRIFON
          65010, Ukraine, Odesa region,
          Matova Str. 18-A

          Mr. Valerij Brikulskij
          Temporary Insolvency Manager
          Ukraine, Odesa region,
          Akademik Glushko Avenue, 5-V/56

          ECONOMIC COURT OF ODESA REGION
          65032, Ukraine, Odesa region,
          Shevchenko Avenue, 4


KRASNENSKIJ BREAD: Court-appointed Insolvency Manager Moves in
--------------------------------------------------------------
The Economic Court of Lviv region commenced bankruptcy
proceedings against Krasnenskij Bread Products Combine (code
EDRPOU 00952060) on October 1, 2004 after finding the open joint
stock company insolvent.  The case is docketed as 6/259-4/200.
Arbitral manager Mr. Volodimir Romanko (License Number AA
484208) has been appointed liquidator/insolvency manager.  The
company holds account number 26002244074006 at CB Privatbank,
Buske branch, MFO 325837.

CONTACT:  KRASNENSKIJ BREAD PRODUCTS COMBINE
          80560, Ukraine, Buskij district, Lviv region,
          Krasne, Zaliznichna Str. 18

          Mr. Volodimir Romanko
          Liquidator/Insolvency Manager
          80750, Ukraine, Lviv region,
          Zolochiv, Sadova Str. 4/51

          ECONOMIC COURT OF LVIV REGION
          79010, Ukraine, Lviv region,
          Lichakivska Str. 81


MARIUPOL PHARMACEUTICAL: Court Grants Debt Moratorium Request
-------------------------------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
supervision procedure on LLC Mariupol Pharmaceutical Factory
(code EDRPOU 05484907) and ordered a moratorium on satisfaction
of creditors' claims.  Arbitral manager Mr. S. Pilipko (License
Number AA 630060) has been appointed temporary insolvency
manager.  The company holds account number 260089802211 at JSCB
Ukrsocbank, Mariupol branch, MFO 334285.

CONTACT:  MARIUPOL PHARMACEUTICAL FACTORY
          87532, Ukraine, Donetsk region,
          Mariupol, Semenishin Str. 4

          Mr. S. Pilipko
          Temporary Insolvency Manager
          Ukraine, Donetsk region,
          Mariupol, Metalurgiv Avenue, 25/81

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


METALURGBUD: Insolvency Manager Takes over Operations
-----------------------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Metalurgbud (code EDRPOU 01236940) on
December 27, 2004 after finding the limited liability company
insolvent.  The case is docketed as 5/213 B.  Mr. M. Filonov
(License Number AA 630033) has been appointed
liquidator/insolvency manager.  The company holds account number
26007301511382 at Prominvestbank, Kramatorsk branch, MFO 334141.

CONTACT:  METALURGBUD
          84302, Ukraine, Donetsk region,
          Kramatorsk, Pochtova Str. 5

          Mr. M. Filonov
          Liquidator/Insolvency Manager
          84301, Ukraine, Donetsk region,
          Kramatorsk, Sotsialistichna Str. 51/62

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


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


ABBEY COLLECTIONS: Hires Parkin S. Booth to Liquidate Assets
------------------------------------------------------------
At the extraordinary general meeting of Abbey Collections
Limited on Feb. 9, 2005 held at the offices of Parkin S. Booth &
Co, 44 Old Hall Street, Liverpool L3 9EB, the extraordinary and
ordinary resolutions to wind up the company were passed.  Ian C.
Brown of Parkin S. Booth & Co, 44 Old Hall Street, Liverpool L3
9EB has been appointed liquidator of the company.

CONTACT:  PARKIN S. BOOTH & CO.
          44 Old Hall Street,
          Liverpool L3 9EB
          Phone: 0151 236 4331
          Fax:   0151 255 0108
          E-mail: lp@parkinsbooth.co.uk
          Web site: http://www.parkinsbooth.co.uk


ABC PROMOTIONAL: Sets Members Final Meeting March
-------------------------------------------------
Name of companies:
ABC Promotional Marketing Limited
ABMR Publications Limited
BFG (Holdings) Limited
Bridge Marketing Support Services Limited
Dawson Advertising Limited
F.A. Loader & Company (Blandford) Limited
Omega Marketing Services Limited
Storeforce UK Limited
Transman Distributors Limited
Virtual Information Services Limited

The final meeting of the members of these companies will be on
March 17, 2005 commencing at 10:35 a.m. and thereafter at 15-
minute intervals.  It will be held at 186 City Road, London EC1V
2NU.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the property of the
company disposed of, and to hear any explanation that may be
given by the liquidator.  Members who want to be represented at
the meeting may appoint proxies.  Proxy forms must be lodged
with Robson Rhodes, 186 City Road, London EC1V 2NU not later
than 12:00 noon, March 16, 2005.

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


ASLIB: Former CEO Revives Publisher
-----------------------------------
Aslib, The Association for Information Management, has been
resurrected by its former chief executive, Roger Bowes.  Mr.
Bowes has purchased the assets and intellectual property of
Aslib, which are owned by a new company, Global Information
Management Services.

The organization will continue to be called Aslib and Mr. Bowes
will hold the post of managing director.  Mr. Bowes commented:
"My intention was always to ensure that ASLIB and its unique
contribution to information management is sustained and
flourishes and that its staff including myself can continue in
employment."

Cathy Mostyn, Business Development Director at Emerald, stated:
"Aslib has the full support of Emerald Group Publishing Limited
and as owners and publishers of the Aslib journals, we expect
our relationship with them to be a long and happy one.  Aslib
bulk purchases these journals to service their members.  This
means that once membership fees are paid, the supply of
Aslib/Emerald journals is guaranteed."

Members will continue to benefit from subscriptions to two of
the six Emerald/Aslib journals of their choice and also benefit
from a 20% discount on any additional Emerald/Aslib journal(s).
Members also benefit from an extensive range of electronic
services, which support Emerald titles.  Emerald has a portfolio
of 27 library and information science titles, more than any
other publisher in the world.

Emerald Aslib journals are: Program, Aslib Proceedings,
Journal of Documentation, Performance Management and Metrics,
Records Management Journals, and Library Hi Tech News.

Aslib has also moved to new premises.  Their new postal address
is: Holywell Centre, 1 Phipp Street, London, EC2A 4PS.  Phone:
0207 613 3031

About Aslib

Aslib, The Association for Information Management, was
established in 1924.  Its members are private and public sector
companies and organizations throughout the world, concerned with
managing information resources efficiently.  Aslib has 3
branches and 14 Special Interest Groups, covering some 60 SIC
areas.  Their expertise is in helping and advising
organizations, from SME's to large corporations and governments,
on any of their issues and problems, information management
great and small.

About Emerald

Emerald Group Publishing Ltd is the leading English language
publisher of academic and professional literature in the fields
of management and library & information services and is a
globally recognized source of online management information.
Emerald is COUNTER compliant, meeting the international code of
practice for reports that allow clients to measure the usage of
online information products and services in a more consistent
way.

Emerald publishes over 150 titles such as Management Decision,
European Journal of Marketing, Journal of Documentation, Library
Hi Tech, Journal of Knowledge Management and The TQM Magazine.

Emerald's flagship product, Emerald Management Xtra, is
dedicated to the continued development of business schools and
management departments worldwide.

Aslib went into liquidation at Christmas with debt of
GBP830,000.

CONTACT:  ASLIB
          Roger Bowes,
          Phone: 0207 613 3031
          E-mail: rbowes@aslib.com
          Web site: http://www.aslib.co.uk

          EMERALD GROUP PUBLISHING LIMITED
          Gill Crawford
          Phone: 01274 777700
          E-mail: gcrawford@emeraldinsight.com

          or

          THEANSWER LTD.
          Catherine Dhanjal
          E-mail: Catherine.dhanjal@theansweruk.com
          Web site: http://www.emeraldinsight.com/


BACKMILL LIMITED: Appoints Valentine & Co. Liquidator
-----------------------------------------------------
At the extraordinary general meeting of Backmill Limited on Jan.
31, 2005 held at the offices of Valentine & Co., 4 Dancastle
Court, 14 Arcadia Avenue, London N3 2HS, the extraordinary and
ordinary resolutions to wind up the company were passed.  Robert
Valentine and Mark Reynolds of Valentine & Co., 4 Dancastle
Court, 14 Arcadia Avenue, London N3 2HS have been appointed
joint liquidators of the company.

CONTACT:  VALENTINE & CO.
          4 Dancastle Court
          14 Arcadia Avenue, London N3 2HS
          Phone: 020 8343 3710
          Fax: 020 9343 4486
          Web site: http://www.valentine-co.com


BARCONTEK LIMITED: Names Bishop Fleming Liquidator
--------------------------------------------------
At the extraordinary general meeting of Barcontek Limited on
Feb. 8, 2005 held at 1 Barnfield Crescent, Exeter, Devon EX1
1QY, the extraordinary and ordinary resolutions to wind up the
company were passed.  Jeremiah Anthony O'Sullivan of Bishop
Fleming, 1 Barnfield Crescent, Exeter, Devon EX1 1QY has been
appointed liquidator of the company.

CONTACT:  BISHOP FLEMING
          1 Barnfield Crescent,
          Exeter, Devon EX1 1QY
          Phone: 01392 278436
          Fax: 01392 413617
          E-mail: exeter@bishopfleming.co.uk
          Web site: http://www.bishopfleming.co.uk


BARINT LIMITED: Calls in Liquidator from S. C. Banister
-------------------------------------------------------
At the extraordinary general meeting of Barint Limited on Feb.
11, 2005 held at S G Banister & Co, 40 Great James Street,
London WC1N 3HB, the subjoined extraordinary resolution to wind
up the company was passed.  Tim Alexander Clunie of S. G.
Banister & Co, 40 Great James Street, London WC1N 3HB has been
appointed liquidator of the company.


B.K.M. SCAFFOLDING: Shareholders Opt to Liquidate Company
---------------------------------------------------------
At the extraordinary general meeting of B.K.M. Scaffolding
Limited on Feb. 10, 2005 held at the offices of Valentine & Co.,
4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS, the
extraordinary and ordinary resolutions to wind up the company
were passed.  Robert Valentine of 4 Dancastle Court, 14 Arcadia
Avenue, London N3 2HS has been appointed liquidator of the
company.

CONTACT:  VALENTINE & CO.
          4 Dancastle Court
          14 Arcadia Avenue, London N3 2HS
          Phone: 020 8343 3710
          Fax: 020 9343 4486
          Web site: http://www.valentine-co.com


B & O (UK): Members Pass Winding-up Resolutions
-----------------------------------------------
At the extraordinary general meeting of the members of B & O
(UK) Limited (t/a Martini's Restaurant and Bar) on Feb. 11, 2005
held at Mountview Court, 1148 High Road, Whetstone, London N20
0RA, the extraordinary and ordinary resolutions to wind up the
company were passed.  Elizabeth Arakapiotis has been appointed
liquidator of the company.


BROADWAY COMMUNICATIONS: Falls into Administration
--------------------------------------------------
Jeremy Berman (IP No 5303) has been appointed administrator for
advertising agency Broadway Communications Limited.  The
appointment was made Feb. 7, 2005.  Its registered office is
located at 76 New Cavendish Street, London W1G 9TB.

CONTACT:  BERLEY
          76 New Cavendish Street,
          London W1G 9TB


BUDABING LIMITED: Hires Tenon Recovery as Liquidator
----------------------------------------------------
At the extraordinary general meeting of the members of Budabing
Limited (t/a The House on Bird Hills) on Feb. 4, 2005 held at
Salisbury House, 31 Finsbury Circus, London EC2M 5SQ, the
extraordinary and ordinary resolutions to wind up the company
were passed.  Carl Stuart Jackson and Nigel Ian Fox of Tenon
Recovery, Highfield Court, Tollgate, Chandlers Ford, Eastleigh,
Hampshire SO53 3TZ have been appointed joint liquidators of the
company.

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


CLIVEDEN CLUB: Calls in Liquidators from Ernst & Young
------------------------------------------------------
At the general meeting of Cliveden Club (Operations) Limited,
the special resolution to wind up the company was passed.
Elizabeth Bingham and Alan Lovett of Ernst & Young LLP, 1 More
London Place, London SE1 2AF have been appointed joint
liquidators of the company.

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


CONFEDERATION U.K.: Calls Members General Meeting
-------------------------------------------------
The general meeting of the members of Confederation U.K.
Holdings Limited will be on March 17, 2005 at 10:00 a.m.  It
will be held at the offices of David Rubin & Partners, Pearl
Assurance House, 319 Ballards Lane, London N12 8LY.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the property of the
company disposed of, and to hear any explanation that may be
given by the liquidator.  Members who want to be represented at
the meeting may appoint proxies.  Proxy forms must be lodged
with David Rubin & Partners, Pearl Assurance House, 319 Ballards
Lane, London N12 8LY not later than 12:00 noon, March 16, 2005.

CONTACT:  DAVID RUBIN & PARTNERS
          Pearl Assurance House,
          319 Ballards Lane,
          London N12 8LY
          Phone: 020 8343 5900
          Fax: 020 8446 2994
          Web site: http://www.drpartners.com


COUTTS PRECISION: Liquidator's Final Report Out Next Month
----------------------------------------------------------
The final general meeting of Coutts Precision Plastics Ltd. will
be on March 17, 2005 at 10:00 a.m.  It will be held at Ernst &
Young LLP, 1 More London Place, London SE1 2AF.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the property of the
company disposed of, and to hear any explanation that may be
given by the liquidator.  Members who want to be represented at
the meeting may appoint proxies.

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


DENEBROOK FINANCIAL: Calls Liquidator from Poppleton & Appleby
--------------------------------------------------------------
At the extraordinary general meeting of Denebrook Financial
Planning Limited on Feb. 10, 2005 held at 35 Ludgate Hill,
Birmingham B3 1EH, the resolution to wind up the company was
passed.  M. T. Coyne of Poppleton & Appleby, 35 Ludgate Hill,
Birmingham B3 1EH has been appointed liquidator of the company.

CONTACT:  POPPLETON & APPLEBY
          35 Ludgate Hill,
          Birmingham B3 1EH
          Phone: 0121 200 2962
          Web site: http://www.pandabirmingham.co.uk


D E TUCKER: Members Opt for Liquidation
---------------------------------------
At the extraordinary general meeting of the members of D E
Tucker Limited on Feb. 2, 2005 held at Mary Street House, Mary
Street, Taunton, Somerset TA1 3NW, the extraordinary resolution
to wind up the company was passed.  John P. Sugden of Auker
Rhodes, 286 Manningham Lane, Bradford BD8 7BP has been appointed
liquidator of the company.


EAST YORKSHIRE: Hires P&A Partnership to Liquidate Business
-----------------------------------------------------------
At the extraordinary general meeting of East Yorkshire Recycling
Limited on Feb. 10, 2005 held at Hotel Elizabeth, Ferriby High
Road, North Ferriby, East Yorkshire HU14 3LG, the extraordinary
resolutions to wind up the company were passed.  John Russell
and Andrew Philip Wood of The P&A Partnership, 93 Queen Street,
Sheffield S1 1WF have been appointed liquidators of the company.

CONTACT:  THE P&A PARTNERSHIP
          93 Queen Street, Sheffield S1 1WF
          Phone: (0114) 275 5033
          Fax: (0114) 276 8556
          E-mail: info@poppletonappleby.co.uk
          Web site: http://www.thepandapartnership.com


ECONOS CONSULTING: Liquidator Calls Final Members Meeting
---------------------------------------------------------
The final meeting of Econos Consulting Limited will be on March
18, 2005 at 10:15 a.m.  It will be held at Deloitte & Touche
LLP, Athene Place, 66 Shoe Lane, London EC4A 3WA.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the property of the
company disposed of, and to hear any explanation that may be
given by the liquidator.  Members who want to be represented at
the meeting may appoint proxies.

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


EDINGTON CREDIT: Appoints KPMG Liquidator
-----------------------------------------
At the general meeting of Edington Credit Limited, the special
and ordinary resolutions to wind up the company were passed.
John Paul Bateman and Julian Whale of KPMG LLP, 8 Princes
Parade, Liverpool L3 1QH have been appointed joint liquidators
of the company.

CONTACT:  KPMG LLP
          8 Princes Parade,
          Liverpool L3 1QH
          Phone: (0151) 473 5100
          Fax:   (0151) 473 5200
          Web site: http://www.kpmg.co.uk


EFFICIENT TRADING: Members Bring in Liquidator
----------------------------------------------
At the extraordinary general meeting of the members of Efficient
Trading Limited (t/a Search 4 Bargains) on Feb. 11, 2005 held at
20 Winmarleigh Street, Warrington, Cheshire WA1 1JY, the
extraordinary resolution to wind up the company was passed.
Robert W. Keating of R. W. Keating & Co., 20 Winmarleigh Street,
Warrington, Cheshire WA1 1JY has been nominated liquidator of
the company.

CONTACT:  R. W. KEATING & CO.
          20 Winmarleigh Street, Warrington,
          Cheshire WA1 1JY


E & G SUPPLIES: Creditors Appoint Liquidator
--------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

             IN THE MATTER OF E & G Supplies Limited
                         (In Liquidation)

I, Annette Menzies, French Duncan, 375 West George Street,
Glasgow G2 4LW, hereby give notice, pursuant to Rule 4.19 of the
Insolvency (Scotland) Rules 1986, that on 1 February 2005 I was
appointed Liquidator of E & G Supplies Limited by Resolution of
the First Meeting of Creditors.

A Liquidation Committee was not established at this Meeting.

Annette Menzies, Liquidator
February 2, 2005

CONTACT:  FRENCH DUNCAN
          375 West George Street
          Glasgow G2 4LH
          Phone: 0141 221 2984
          Fax: 0141 221 2980
          E-mail: enquiries@frenchduncan.co.uk
          Web site: http://www.frenchduncan.co.uk


EUROTUNNEL PLC: Jacques Gounon Succeeds Chairman Jacques Maillot
----------------------------------------------------------------
Jacques Maillot has expressed his wish to step down as the non-
executive Chairman of the Joint Board.  The Joint Board of
Eurotunnel met 18 February to appoint Jacques Gounon to replace
him with immediate effect.  Jacques Maillot remains a non-
executive director of Eurotunnel.

Jacques Gounon was appointed a non-executive director of
Eurotunnel on 17 December 2004.  As Eurotunnel enters a new,
essential phase, Jacques Maillot wished to transfer the
responsibility of Chairman to someone who could bring his
expertise to the company.  A graduate of the Ecole
Polytechnique, Jacques Gounon (51) is a civil engineer by
profession.  He has held senior positions in French public
administration with the Ministry of Equipment, the Ministry of
Employment and the Ministry of Transport.  He was recently
country President of Alstom in France and Deputy Chief Executive
of the Cegelec Group.

Eurotunnel manages the infrastructure of the Channel Tunnel and
operates accompanied truck shuttle and passenger shuttle (car
and coach) services between Folkestone, U.K. and Calais, France.
Eurotunnel also earns toll revenue from other train operators
(Eurostar for rail passengers, and EWS and SNCF for rail
freight), which use the Tunnel.  Eurotunnel is quoted on the
London, Paris and Brussels Stock Exchanges.

CONTACT:   EUROTUNNEL
           John Keefe
           Phone: + 44 (0) 1303 282181
           Kevin Charles
           Phone: + 44 (0) 1303 288728

           Investor enquiries:
           Xavier Clement
           Phone: + 33 1 55 27 36 27


FOXSEAL (UK): Members Decide to Wind up Firm
--------------------------------------------
At the extraordinary general meeting of the members of Foxseal
(UK) Limited on Feb. 4, 2005 held at Boddington Manor,
Boddington, Gloucestershire, the special resolution to wind up
the company was passed.  Paul Michael Davis and Timothy John
Edward Dolder of Begbies Traynor, 32 Cornhill, London EC3V 3BT
has been appointed liquidators of the company.

CONTACT:  BEGBIES TRAYNOR (SOUTH) LLP
          32 Cornhill, London EC3V 3BT
          Phone: 020 7398 3800
          Fax:   020 7398 3799
          Web site: http://www.begbies.com


GEOMARINE LIMITED: Appoints BRI Business Recovery Administrator
---------------------------------------------------------------
Peter John Windatt and Gary Steven Pettit (IP Nos 008611, 1413)
have been appointed administrators for Geomarine Limited.  The
appointment was made Feb. 9, 2005.  Its registered office is
located at 100-102 St James Road, Northampton NN5 5LF.

CONTACT:  BRI BUSINESS RECOVERY AND INSOLVENCY
          100-102 St James Road,
          Northampton NN5 5LF


HOSTAPHAN UK: Calls in Liquidators from Begbies Traynor
-------------------------------------------------------
At the extraordinary general meeting of Hostaphan UK Limited on
Feb. 10, 2005 held at Chatton House, 165 Park Road, Teddington,
Middlesex TW11 0BP, the subjoined special and ordinary
resolutions to wind up the company were passed.  Paul Michael
Davis and Timothy John Edward Dolder of Begbies Traynor, 32
Cornhill, London EC3V 3LJ have been appointed liquidators of the
company.

CONTACT:  BEGBIES TRAYNOR (SOUTH) LLP
          32 Cornhill, London EC3V 3BT
          Phone: 020 7398 3800
          Fax:   020 7398 3799
          Web site: http://www.begbies.com


LAZARI LIMITED: Creditors Appoint Liquidator
--------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

                IN THE MATTER OF Lazari Limited
                        (In Liquidation)

I, F. J. Gray, hereby give notice pursuant to Rule 4.19 of the
Insolvency (Scotland) Rules 1986 that I was appointed Liquidator
of Lazari Limited, by a Resolution of a Meeting of the Creditors
on January 26, 2005.

A Liquidation Committee was not formed.  I do not intend to
summon another Meeting to establish a Liquidation Committee
unless requested to do so by one tenth, in value, of the
Company's Creditors.

F. J. Gray, Liquidator
January 26, 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


LEC MARINE: Names Smith & Williamson Administrator
--------------------------------------------------
Anthony Murphy, Robert Horton and Roger Tulloch (IP Nos 8716,
8922, 9174) have been appointed joint administrators for Lec
Marine (Lowestoft) Limited.  The appointment was made Feb. 10,
2005.

CONTACT:  SMITH & WILLIAMSON LIMITED
          No 1 Bishops Wharf
          Walnut Tree Close
          Guildford GU1 4RA
          Phone: 01483 407 100
          Fax: 01483 301 232
          Web site: http://www.smith.williamson.co.uk


MARK COLEMAN: Hires Liquidator from Kroll Limited
-------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

       IN THE MATTER OF Mark Coleman Communications Limited
                        (In Liquidation)

I, Fraser James Gray, hereby give notice pursuant to Rule 4.19
of the Insolvency (Scotland) Rules 1986 that I was appointed
Liquidator of Mark Coleman Communications Limited, by Resolution
of a Meeting of Creditors held under S138 of the Insolvency Act
1986, on January 26, 2005.

A Liquidation Committee was not formed.  I do not intend to
summon another Meeting to establish a Liquidation Committee
unless requested to do so by one tenth in value of the Company's
Creditors.

Fraser James Gray, Liquidator
January 26, 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


MEGA FORREST: Liquidator from Begbies Traynor Steps in
------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

              IN THE MATTER OF Mega Forrest Limited
                         (In Liquidation)

I, I. Scott McGregor, of Begbies Traynor, 4th Floor, 78 St
Vincent Street, Glasgow G2 5UB hereby give notice, pursuant to
Rule 4.19 of the Insolvency (Scotland) Rules 1986, that on
January 27, 2005 I was appointed Liquidator of the above named
Company by a Resolution of the First Meeting of Creditors held
in terms of section 138(3) of the Insolvency Act 1986.  No
Liquidation Committee was established.

Accordingly, I do not intend to summon a further Meeting for the
purpose of establishing a Liquidation Committee unless one-
tenth, in value, of the Creditors require it in terms of section
142(3) of the Insolvency Act 1986.

All Creditors who have not already done so are required to lodge
their claims with me by June 30, 2005.

I. Scott McGregor, Liquidator
January 31, 2005

CONTACT:  BEGBIES TRAYNOR
          4th Floor
          78 St. Vincent Street
          Glasgow G2 5UB
          Phone: 0141 222 2230
          Fax: 0141 222 2330
          E-mail: glasgow@begbies-traynor.com
          Web site: http://www.begbies.com


PREMIER FOODS: U.K. Food Agency Orders Worcester Sauce Recall
-------------------------------------------------------------
The Food Standards Agency has advised Retailers and Food
Manufacturers to withdraw from sale any products, which may
contain Worcester Sauce, supplied to them from a specific batch
manufactured by Premier Foods.  This statement does not relate
to Worcester Sauce supplied by any other food manufacturer.

The situation has arisen from a Quality Assurance check, which
revealed the presence of Sudan 1 in Worcester Sauce, through the
contamination of a batch of Chilli Powder, which is a minor
ingredient used to manufacture the sauce.  Sudan 1 is a
colourant, which is not permitted for use in food products.  The
FSA has advised that the levels of Sudan 1 detected present no
immediate risk to health.

In addition the Worcester Sauce when used as an ingredient of
other food products is diluted to such an extent that Sudan 1
becomes virtually undetectable.  The ingredient was supplied to
Premier from a reputable U.K. source, who themselves had been
supplied by another U.K. company.  Premier received written
assurance that the Chilli Powder did not contain Sudan 1.

We believe the responsibility for any financial costs associated
with the recall will rest with our suppliers and their insurers.
In any event, the company is insured against such eventualities.

Sales by Premier Foods of the affected products amount to
approximately GBP1 million per annum.  We have verified that all
our current stock of raw materials is free from contamination
and there will be limited interruption to supply.

CONTACT:  PREMIER FOODS
          Paul Thomas, Finance Director
          Gwyn Tyley, Investor Relations Manager
          Phone: 01727 815 850

          Michael Berkeley
          Sara Batchelor
          Anthony Kennaway

          Citigate Dewe Rogerson
          Phone: 020 7638 9571


SCI.LANG LIMITED: Final Creditors Meeting Next Week
---------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

               IN THE MATTER OF Sci.Lang Limited
                        (In Liquidation)

Notice is hereby given in accordance with section 146 of the
Insolvency Act 1986, that the Final Meeting of Creditors of
Sci.Lang Limited will be held at 11:00 a.m. on Thursday March 3,
2005, at 12 Carden Place, Aberdeen AB10 1UR, for the purposes of
receiving an account of the winding-up from the Liquidator,
together with any explanation that may be given by him.

The Meeting will also consider these resolutions.

(a) To approve the Liquidator's release; and

(b) To authorize the Liquidator to dispose of the company's
    accounting records three months after the date of the Final
    Meeting.

Michael J. M. Reid, CA, Liquidator
January 27, 2005

CONTACT:  MESTON REID & CO
          12 Carden Place
          Aberdeen AB10 1UR
          E-mail: info@mestonreid.com
          Web site: http://www.meistonreid.com


SKIRFARE BUSINESS: Hires Lee & Company as Liquidator
----------------------------------------------------
At the extraordinary general meeting of Skirfare Business
Systems Limited on Jan. 26, 2005 held at Bank House, 1 The
Square, Stamford Bridge, Yorkshire, the subjoined special
resolution to wind up the company was passed.  Philip Lee of Lee
& Company has been appointed liquidator of the company.


TIMBER FRAME: Calls in Joint Administrators from PwC
----------------------------------------------------
Ian D. Green and David M. Walker (IP Nos 9045, 3606) have been
appointed joint administrators for Timber Frame Solutions
Limited.  The appointment was made Feb. 11, 2005.

The company is into timber framing/construction.  Its registered
office is located at Birmayne House, Cowley Road, Blyth
Industrial Estate, Blyth, Northumberland NE24 5TF.

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


W M ABBOTT: Falls into Administration
-------------------------------------
Andrew James Nichols (IP No 8367) has been appointed
administrator for W M Abbott & Co. Limited.  The appointment was
made Feb. 10, 2005.  The company sells furniture.

CONTACT:  Maclaren House, Skerne Road,
          Driffield YO25 6PN


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------

                                Shareholders   Total    Working
                                   Equity      Assets   Capital
                        Ticker     (US$MM)    (US$MM)   (US$MM)
                        ------   -----------  -------   --------

AUSTRIA
-------
Libro AG                            (111)         174     (182)
Rhi AG                              (531)       1,471      129


BELGIUM
-------
Carestel N.V.             CSTL.BR     (3)         178      (68)
City Hotels               CITY.BR     (7)         210      (15)
Real Software             REAL.BR   (202)         176      (17)
Sabena S.A.                          (86)       2,215     (297)


CZECH REPUBLIC
--------------
Ceskomoravska Kolben &
   Danek Praha Holding               (89)         192   (2,186)


DENMARK
-------
Elite Shipping                       (28)         101       19


FRANCE
------
Acces Industrie                      (32)         124      (63)
Arbel                     PA.ARB     (50)         213      (47)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Bull S.A.                 BULP.PA   (912)         902      (38)
Compagnie Francaise de
   l'Afrique Occidentale             (65)         256       21
Compagnies de
   Machines Bull                    (139)         137       (6)
Charbo De France                  (3,872)       4,738   (2,868)
Euro Computer System                (110)         682      377
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (68)         233       29
LVL Medical Group         LVLM.PA     (8)         149       (6)
Pneumatiques Kleber S.A.             (34)         480      139
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
St Fiacre (FIN)                       (1)         111      (33)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Agor AG                   DOOG.BE     (8)         392     (126)
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
F.A. Guenther & Son AG    GUSG        (8)         111      N.A.
Glunz AG                  GLUG        (0)         428      (17)
Kamps AG                  KMPSF.PK   (93)       1,075      (61)
Kaufring AG               KAUG       (19)         151      (51)
Mannheimer AG                        (15)         879      N.A.
Marbert AG                MTBG       (13)         144      (50)
Nordsee AG                            (8)         195      (31)
Primacom AG               PRIG      (106)       1,264      (50)
Rinol AG                  RLIG       (25)         178      (53)
Schaltbau Hold            SLTG       (38)         150      (26)
Senator Entertainment
    AG                    SENGk.BE  (153)         126     (148)
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)
VBH Holding AG            VBHG       (54)         337      (80)
Vivanco Gruppe                       (55)         131      (31)


GREECE
------
Delta Ice Cream                       (3)         183      (14)
DryShips Inc.             DRYS        (4)         184      (29)


ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                       (31)         793     (248)
Gruppo Coin S.p.A.        GC        (111)         974      (97)
Lazio S.p.A.              LAZI       (27)         426     (175)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (16,510)       5,285     (332)
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)


LUXEMBOURG
----------
Millicom International
   Cellular S.A.          MICC       (59)       1,523        4
Oriflame Cosmetics S.A.   ORI.ST     (44)         378       97


NETHERLANDS
-----------
Baan Company N.V.         BAAN        (8)         610       46
Numico N.V.               NUMC      (558)       2,030       83
United Pan-Euro Air       UPC     (5,266)       5,180   (8,730)


NORWAY
------
Pan Fish ASA                         (24)         514      327
Petroleum-Geo Services    PGO        (32)       2,963   (5,250)


POLAND
------
Gruppo Media
   Capital SGPS S.A.      GMPTF.PK   (21)         399      (85)
Mostostal Zabrze          MECOF.PK    (6)         227     (366)


RUSSIA
------
Kamchatskenergo                     (107)         291   (7,319)
Zil Auto                            (147)         349   (9,974)


SPAIN
-----
Altos Hornos de
   Vizcaya S.A.                     (116)       1,283     (278)
Avanzit S.A.              AVZ.MC    (117)         457     (247)
Santana Motor S.A.                   (46)         223       41
Sniace S.A.                          (16)         136      (34)


SWITZERLAND
-----------
Kaba Holding AG           KABZN      (19)         569      372
Swisslog Holding-R        SLOG       (98)         354      151


TURKEY
------
Dyo Boya Fabrikalari
   Sanayi Ve Ticare                  (11)         106      (66)
Nergis Holding                       (24)         125       22
Yasarbank                           (948)         623      N.A.


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
Alldays Plc                         (120)         252     (202)
Amey Plc                             (49)         932      (47)
Bonded Coach
   Holiday Group Plc                  (6)         188      (44)
Blenheim Group                      (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Plc        BGY     (5,342)       3,438      229
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
Center Parcs (UK)
    Group Plc             CQY        (77)         423     (227)
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST       (65)         396       (4)
Danka Bus System          DNK.L      (51)         585       82
Dawson Holdings           DWN.L      (29)         142      (32)
Dignity Plc               DTY.L     (148)         485      (89)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI     (1,318)       3,472     (293)
Euromoney Institutional
   Investor Plc           ERM.L     (113)         236      (66)
Gallaher Group            GLH       (492)       6,304      116
Gartland Whalley                     (11)         145       (8)
Global Green Tech Group             (156)         408      (18)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV       (130)         997      (56)
Intertek Testing Services ITRK       (64)         508       77
Invensys PLC                        (559)       5,885      882
IPC Media Ltd.                      (685)         254       16
Jarvis Plc                JRVS.L     (26)       1,176     (182)
Jessops Plc               JSP.L       (8)         297        7
Lambert Fenchurch Group               (1)       1,827        3
Lattice Group                     (1,290)      12,410   (1,228)
Leeds United              LDSUF.PK   (73)         144      (29)
M 2003 Plc                        (2,204)       7,205     (756)
Manchester City                      (17)         154      (21)
Misys Plc                 MSY       (334)         934       44
Mytravel Group            MT.L    (1,118)       2,551     (533)
Orange Plc                ORNGF     (594)       2,902        7
PD Ports Plc              PDP.L     (282)         361        0
Premier Foods Plc         PFD.L     (565)       1,105       34
Probus Estates Plc        PBE.L      (28)         113      (35)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,092)       3,245      (68)
Saatchi & Saatchi         SSI       (119)         705      (41)
Seton Healthcare                     (11)         157        0
SFI Group                           (108)         178     (162)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,361)
Virgin Mobile
   Holdings Plc           VMOB.L    (101)         278      (80)

Each Tuesday edition of the TCR-Europe contains a list of
companies with insolvent balance sheets based on the latest
publicly available balance sheet available to our editors at the
time of publication.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell
short.  Don't be fooled.  Assets, for example, reported at
historical cost net of depreciation may understate the true
value of a firm's assets.  A company may establish reserves on
its balance sheet for liabilities that may never materialize.
The prices at which equity securities trade in public market are
determined by more than a balance sheet solvency test.


                            *********


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
to be reliable, but is not guaranteed.

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


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