TCREUR_Public/050803.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

           Wednesday, August 3, 2005, Vol. 6, No. 152

                            Headlines

F R A N C E

GLOBAL AUTOMOTIVE: Trading Difficulties Alarm Standard & Poor's


G E R M A N Y

DAIMLERCHRYSLER AG: Looking for New Mercedes Chief
EBD LIMITED: Creditors' Claims Due in Two Weeks
ISH GMBH: iesy Merges with Tele Columbus
ITALIATOUR GMBH: First Creditors Meeting Set September
MB METALLFERTIGUNGS: Proofs of Claim Later this Month

PASTISSIMA TEIGWARENVERTRIEBSBETEILIGUNGS: Declares Bankruptcy
SEMPRE HAIR: Muenchen Court Calls in Administrator
SPEEDY'S GEBAUDEREINIGUNG: Under Bankruptcy Administration
SUSHI EXPRESS: Caterer Falls into Bankruptcy
WEINHOLD BAU: Court to Verify Claims December


I T A L Y

FIAT SPA: Divesting EUR70 Mln Worth of Assets in Mirafiori Area
FIAT SPA: Outlook Now Stable; S&P Cites Financial Flexibility


K A Z A K H S T A N

KAZKOMMERTSBANK: 'BB' Long-term Rating Affirmed; Outlook Stable


K Y R G Y Z S T A N

AK-MANDAI: Under Bankruptcy Supervision
BAHTYBAI COMPANY: Gives Creditors Until September to File Claims
EDELVEIS-TRIKOTAJ: Creditors Meeting Set Today
KRAFT: Sets Proofs of Claim Deadline
MG ROAD: Proofs of Claim Deadline Expires September

MUNARA KURULUSH: Sets Shareholders Meeting August 23
REMTA: Proofs of Claim Deadline Set September
SOODA BORBORU: Sets Public Auction Friday
STUDENCHESKOYE 2000: Bankruptcy Supervision Starts
TYAN-SHAN BEL: Creditors' Claims Due September


N E T H E R L A N D S

KONINKLIJKE AHOLD: Cements Leading Position in Central Europe


R O M A N I A

BANCA COMERCIALA: Moody's Rates FC Deposit B2/Not-Prime


R U S S I A

BAKALINSKIY SEL-STROY-SERVICE: Under Bankruptcy Supervision
KASHIRA-MILK: Bankruptcy Hearing Resumes September
METROMEDIA INTERNATIONAL: Concludes PeterStar's Sale
NEW WINDOWS: Declared Insolvent
NIVA: Deadline for Proofs of Claim September 2

NOVO-KURILOVSKOYE: Proofs of Claim Deadline Expires September
POCHINKI-SEL-KHOZ-TEKHNIKA: Bankruptcy Hearing Set November
PODDUBENSKOYE: Insolvency Manager Takes over Firm
SEL-KHOZ-KHIMIYA: Names D. Myzalin Insolvency Manager
VOS-SIB-TRANS-STROY: Undergoes Bankruptcy Supervision Procedure
ZDVINSKOYE: Bankruptcy Hearing Resumes November


S P A I N

AUNA OPERADORES: Merger Could Pose Greater Threat to Telefonica
CABLEUROPA S.A.U.: On CreditWatch Pos After Auna Buyout News


S W E D E N

ESSELTE GROUP: Sells DYMO to Newell Rubbermaid for US$730 Mln


S W I T Z E R L A N D

ABB LTD.: Restructuring Charges Adjustments to Hit Profit


U K R A I N E

DNIPROHIMREMONT: Succumbs to Bankruptcy
KRIOLIT: Temporary Insolvency Manager Takes over Helm
PAVLOGRAD' BREAD: Bankruptcy Supervision Starts
RIVNE' MILK: Falls into Insolvency
SERPNEVE: Applies for Bankruptcy Proceedings

SHID-ZAHID: Lviv Court Appoints Insolvency Manager
SIMKOMUNSERVICE: Falls into Bankruptcy
TEHBUDSKLO: Names Illya Maksimov Liquidator
TEHOSNASTKA: Proofs of Claim Deadline Expires Today
UKRAINA: Rivne Court Opens Bankruptcy Proceedings
YUZHENERGOBUD: Under Bankruptcy Supervision


U N I T E D   K I N G D O M

ALADDINS CAVE: Applies for Liquidation
ARCWELD FABRICATIONS: Members Opt for Liquidation
ASHTEAD GROUP: Shareholders Approve Placing and Open Offer
ATLANTIC PROPERTY: DTI Applies for Winding-up Order
AUTOSHIELD WINDSCREENS: Calls in Liquidator

BROOK BUILDING: DTE Leonard Administrators Take over Operation
CABLE OPTIONS: Appoints Begbies Traynor Liquidator
CELSIUS HEATING: Members Decide to Wind up Firm
CHALTON ENGINEERING: Calls in Liquidator
CHILDRENS CHAINSTORE: Applies for Liquidation

CHISOFT LIMITED: EGM Passes Winding-up Resolutions
COLT TELECOM: Buys back GBP11 Million of 2007 Bonds
CORNISH CANDY: Hires Liquidator from Purnells
COUNTRY SKIP: Names Begbies Traynor Administrator
CROWN ENTERPRISES: Members Resolve to Liquidate Business

C.T. LOGISTICS: Shareholders Pass Winding-up Resolutions
DISCOUNT INTRANET: Creditors Meeting Set Next Week
D & N RICH: Calls in Administrators from Kay Johnson Gee
DRAX GROUP: Awaits TXU's Second Principal Claims Payment
DUNLOPBRIDGE PROPERTY: Hires Liquidators from PwC

FORD GREEN: Hires Receiver from Walletts Insolvency Services
HILBRON LIMITED: Appoints Liquidator
HINCKLEY GLASS: Files for Liquidation
HINCKLEY HORTICULTURAL: High Court Approves Liquidation
HOWARD MARTIN: Voluntarily Files for Winding-up

INTERFORCE C.C.: Members Opt for Liquidation
J FISHWICK & SONS: Calls in Administrators
KINGSTON AUTOS: Official Receiver to Handle Liquidation
KWELM: Court Approves Insurance Settlement with Federal-Mogul
LEOPARD TECHNICAL: Files for Receivership

MILLENNIUM FRINGE: Receiver Takes over Operations
MOBILELINK UK: Joins Several Mobile Phone Firms in Liquidation
MOULINS CONSTRUCTION: Names Moore Stephens Liquidator
MYTRAVEL GROUP: Books Extraordinary Cost Due to Egypt Bombings
OPAL PROFESSIONAL: Court Orders Winding-up

ORIEL SUPPORT: Files for Administration
PENNINE POINTING: In Liquidation
PLANESTATION GROUP: Axes 127 Workers; Cancels All Flights
POUNDCO LIMITED: Appoints Administrators from Kay Johnson Gee
PRESCO U.K.: Goes into Liquidation

P.S.I. (SOUTHERN): Appoints Liquidator
RAMCO ENERGY: Members Awarded Share Options
RDVA LIMITED: Tomlinson Takes over Operations
RED LETTER: Celebrity Founder Unaware of Firm's Demise
REGENT WINDOWS: Joint Liquidators Move in

ROYAL & SUNALLIANCE: Sells U.S. Auto Insurance Business
R.R. REALISATIONS: Unsecured Creditors Meeting Set Next Week
SAFETY DEVICES: Creditors to Meet Monday
SPIRAL DUCT: In Voluntary Liquidation
SPORTS SYSTEMS: Calls in Liquidator

SUPERSTAR DJ: Appoints Moore Stephens Liquidator
SWERVE FILMS: Appoints Liquidators from Elwell Watchorn
THE DYEHOUSE: Calls in Receiver
THOMAS JAMES: Gets Court Approval to Windup
TOTAL WASTE: Calls in Liquidator from PKF

TRADEBIZ LIMITED: Manchester Court Okays Liquidation
UNIQ PLC: Sells Nordic Salads Unit to Reduce Debt
VNC LIMITED: In Voluntary Liquidation
WELSH COAST: Court Appoints Receivers
WOOLWORTHS GROUP: Completes Sale of Entertainment Unit
WTN GROUP: Members Decide to Wind up Firm
YARDSTICK ENTERPRISES: HSBC Bank Appoints PKF Receiver


                            *********


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


GLOBAL AUTOMOTIVE: Trading Difficulties Alarm Standard & Poor's
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'BB-' long-term
corporate credit rating on France-based auto logistics supplier
Global Automotive Logistics S.A.S. on CreditWatch with negative
implications, reflecting concerns that the company's trading
environment has deteriorated with detrimental consequences for
GAL's financial position.

"We are concerned that the financial performance of GAL has been
significantly affected due to a tighter trading environment in
which both volumes and prices have been falling," said Standard &
Poor's credit analyst Jarrad Oberhardt.  "This is particularly
due to declining delivery volumes from Renault, which represents
more than 70% of GAL's customer base, together with regular price
reductions."

"We now believe, therefore, that our previous expectation for
minimum EBITDA of EUR75 million for fiscal 2005 may not be
achieved due to the relatively high fixed-cost base of GAL," S&P
said.  "In addition, there is the possibility that the company
might struggle to comply with financial covenants under a
committed bank facility.  Covenants were only recently
renegotiated following a breach of this facility in December
2004."

Standard & Poor's expects to resolve the CreditWatch once it has
received more information and greater clarity with respect to
GAL's trading and financial position.

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

CONTACT:  STANDARD AND POOR'S RATING SERVICES
          Group E-mail Address
          CorporateFinanceEurope@standardandpoors.com


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


DAIMLERCHRYSLER AG: Looking for New Mercedes Chief
--------------------------------------------------
DaimlerChrysler AG has reportedly started searching for a new
chief for its Mercedes business.  Eckhard Cordes, the present
Mercedes boss, has offered to resign less than a year after
joining the struggling division, according to The Telegraph.

His decision comes after the disclosure that Dieter Zetsche would
replace Juergen Schremmp as head of DaimlerChrysler.  For a long
time, Mr. Cordes had been viewed as Mr. Schremmp's successor, but
apparently that is not the case now.  Many are now speculation
whether or not Mr. Schremmp's exit is voluntary.

German newspaper Handelsblatt describes Mr. Cordes' move as
"behaving like a young child who's had his toy taken away."  But
his supporters believe he deserves to succeed after Mr. Schremmp
after stopping the "bleeding at Mercedes [and] after proving
himself by reversing losses at the truck division."

Mercedes marketing manager Klaus Meier is reportedly the favorite
to replace Mr. Cordes.

Mercedes has reported losses of almost EUR1 billion (GBP690
million) so far this year, mostly influenced by the 30% sales
drop of its E-class sedans.  Its core Mercedes brand had to
recall 1.3 million vehicles due to defective brakes in March.

In July, Handelsblatt said DaimlerChrysler was likely to drop
thousands of jobs at the Mercedes Benz division as part of its
cost-cutting measures.  Stuttgarter Nachrichten also reported
earlier that 5,000 out of the 150,000 DaimlerChrysler workers in
Germany could lose their jobs; but, the carmaker refused to
comment on the article.

In June, Mercedes' market share slipped further, as car sales
across Europe soured.  The European Automobile Manufacturers
Association in a report said Mercedes' slice of the luxury car
market dropped by 12.8%, compared to rivals BMW and Volkswagen's
Audi, whose shares rose 23% and 17.2%, respectively.

CONTACT:  DAIMLERCHRYSLER AG
          70546 Stuttgart, Germany
          Phone: +49 711 17 0
          Fax: +49 711 17 22244
          Web site: http://www.daimlerchrysler.com


EBD LIMITED: Creditors' Claims Due in Two Weeks
-----------------------------------------------
The district court of Augsburg opened bankruptcy proceedings
against EBD Limited & Co. Geruestbau KG on July 5.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until August 16, 2005 to
register their claims with court-appointed provisional
administrator Nikolaus Gaede.

Creditors and other interested parties are encouraged to attend
the meeting on September 1, 2005, 10:00 a.m. at the district
court of Augsburg, Justizgebaude, Sitzungssaal 162, Am Alten
Einlass 1, 86150 Augsburg, 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:  EBD LIMITED & Co. GERUESTBAU KG
          zul. Donauworther Str. 82, 86154 Augsburg
          Contact:
          Mendu Habisov, Manager

          Nikolaus Gaede, Administrator
          c/o Kanzlei Haarmann, Hemmelrath & Partner
          Maximilianstr. 35, 80539 Muenchen


ISH GMBH: iesy Merges with Tele Columbus
----------------------------------------
The shareholders of iesy Repository GmbH and Tele Columbus Kabel
Holding GmbH have agreed to combine their two businesses.

Tele Columbus is the largest Network Level 4 operator in Germany
and iesy is the largest cable television provider in the German
states of Hesse and, through its subsidiary ish, North
Rhine-Westphalia.

Parm Sandhu, Chief Executive Officer of iesy and ish, said: "This
combination will enhance our ability to compete in the vibrant
markets in which we operate.  It brings together two of the most
dynamic cable operations and established management teams in
German cable.  We anticipate significant benefits for our
customers and will continue to work closely with all our industry
partners to realize the full potential of cable in Germany."

Dr. Herbert Leifker, Chief Executive Officer of Tele Columbus,
said:  "The combination will positively influence the development
of our product portfolio and enhance the quality of services we
provide to our customers.  The management team is very excited
about the opportunities that this transaction brings to German
cable."

The transaction is subject to regulatory approval and other
customary closing conditions.  The parties aim for a closing in
the fourth quarter 2005, subject to approval by the respective
cartel offices.  Until the closing date, both companies shall
continue to operate independently.

The companies will be hosting a joint conference call to discuss
the transaction with investors.  Details to follow in subsequent
press releases.

About iesy and ish

iesy and ish, headquartered in Frankfurt am Main and Cologne, are
the largest cable television operators in the German states of
Hesse and North Rhine-Westphalia.  The company's products and
services include basic television, digital TV, high-speed
Internet and telephony.  As of June 30, 2005, iesy and ish had
approximately 5.2 million basic cable subscribers, 88,450 digital
TV subscribers, 27,500 high-speed Internet users and 9,800
telephone lines.  More information on iesy and ish can be found
at http://www.iesy.deand http://www.ish.de.

About Tele Columbus

Tele Columbus, headquartered in Hanover, is the largest NL4
operator in Germany with approximately 2.6 million basic cable
subscribers, 52,837 digital TV subscribers, and 23,301 internet
subscribers, as of June 30, 2005.  The company's core business is
the distribution of cable television and radio services.  More
information on Tele Columbus can be found on its website at
http://www.telecolumbus.de

                            *   *   *

In June, ish GmbH completed its merger with iesy in Hesse,
capping a successful turnaround from a crisis three
years ago.  ish narrowly avoided liquidation in 2002 when
international corporate turnaround expert, AlixPartners LLC, took
over the helm.  A case study by AlixPartners found out the
company had over-invested in anticipation for an increase in
cable subscribers that did not happen.  The firm incurred more
than EUR3 billion in debt, defaulted on bank agreements and ran
out of cash.

To rescue the business, AlixPartners arranged an out-of-court
reduction of ish's trade debt by 33%, secured EUR335 million in
new bank and trade financing, and established an achievable
operating plan.  AlixPartners' managing director Jim Bonsall, who
initially acted as chief restructuring officer, later became
chief executive officer of the company.  ish's EBITDA improved
40% in 2003.

CONTACT:  ISH GmbH
          Stefan Lennardt
          Corporate Communication
          Phone: +49 221 37792 197
          E-mail: presse@ish.com

          Gary Ferrera
          Chief Financial Officer, iesy
          Phone: +49-(0)-69-973-24-600
          E-mail: Investor.relations@iesy.de

          TELE COLUMBUS
          Andreas Knuppel
          Chief Financial Officer
          Phone: +49-(0)-511-9876-916

          Ralph Poeppel
          Investor Relations
          Phone: +49-(0)-511-9876-932
          E-mail: rpoeppel@kabel-tv.de


ITALIATOUR GMBH: First Creditors Meeting Set September
------------------------------------------------------
The district court of Muenchen opened bankruptcy proceedings
against Italiatour GmbH on July 1.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until August 25, 2005 to register their claims
with court-appointed provisional administrator Stephan Jaeger.

Creditors and other interested parties are encouraged to attend
the meeting on September 19, 2005, 9:00 a.m. at the district
court of Muenchen, Infanteriestr. 5, Sitzungssaal 101, 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:  ITALIATOUR GmbH
          Elvirastrasse 15 in 80636 Muenchen

          Stephan Jaeger, Administrator
          Leopoldstr. 139, 80804 Muenchen
          Phone: 089/361930-750
          Fax: 089/361930-999


MB METALLFERTIGUNGS: Proofs of Claim Later this Month
-----------------------------------------------------
The district court of Arnsberg opened bankruptcy proceedings
against MB Metallfertigungs GmbH & Co. KG on July 12.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 26, 2005
to register their claims with court-appointed provisional
administrator Wilfried Pohle.

Creditors and other interested parties are encouraged to attend
the meeting on September 23, 2005, 9:40 a.m. at the district
court of Arnsberg, Eichholzstrasse 4, 59821 Arnsberg, EG, 328, 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:  MB METALLFERTIGUNGS GmbH & Co. KG
          Oberschledorner Strasse 2, 59964 Medebach
          Contact:
          Gerhard Soukup, Manager
          Knickenhagen 1, 59964 Medebach-Duedinghausen

          Wilfried Pohle, Administrator
          Bahnstr 1, 34431 Marsberg
          Phone: 02992-973716
          Fax: 02992-973771


PASTISSIMA TEIGWARENVERTRIEBSBETEILIGUNGS: Declares Bankruptcy
--------------------------------------------------------------
The district court of Dortmund opened bankruptcy proceedings
against Pastissima Teigwarenvertriebsbeteiligungs GmbH on July
11.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until September
5, 2005 to register their claims with court-appointed provisional
administrator Achim Thomas Thiele.

Creditors and other interested parties are encouraged to attend
the meeting on October 6, 2005, 10:15 a.m. at the district court
of Dortmund, Nebenstelle, Gerichtsplatz 1, 44135 Dortmund, II.
Etage, Saal 3.201, 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:  PASTISSIMA TEIGWARENVERTRIEBSBETEILIGUNGS GmbH
          Olpe 19, 44135 Dortmund
          Contact:
          Sabine Rose, Manager

          Achim Thomas Thiele, Administrator
          Bronnerstrasse 7, 44141 Dortmund
          Phone: 54110
          Fax: 5411266


SEMPRE HAIR: Muenchen Court Calls in Administrator
--------------------------------------------------
The district court of Muenchen opened bankruptcy proceedings
against Sempre Hair-Color-Mix GmbH on July 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until August 29, 2005 to register their
claims with court-appointed provisional administrator Barbara
Beutler.

Creditors and other interested parties are encouraged to attend
the meeting on August 16, 2005, 9:35 a.m. at the district court
of Muenchen, Infanteriestr. 5, Sitzungssaal 101, 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 September 30, 2005, 9:10 a.m. at the
same venue.

CONTACT:  SEMPRE HAIR-COLOR-MIX GmbH
          Fraunhoferstr. 11 in 82152 Martinsried

          Barbara Beutler, Administrator
          Schwanthalerstr. 32, 80336 Muenchen
          Phone: 089/54511-0
          Fax: 089/54511-444


SPEEDY'S GEBAUDEREINIGUNG: Under Bankruptcy Administration
----------------------------------------------------------
The district court of Muenchen opened bankruptcy proceedings
against Speedy's Gebaudereinigung Service GmbH on June 27.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 19, 2005
to register their claims with court-appointed provisional
administrator Andree Wernicke.

Creditors and other interested parties are encouraged to attend
the meeting on September 19, 2005, 9:50 a.m. at the district
court of Muenchen, 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:  SPEEDY'S GEBAUDEREINIGUNG SERVICE GmbH
          Schleissheimer Str. 26 in 85748 Garching

          Andree Wernicke, Administrator
          Ohmstr. 13, 80802 Muenchen
          Phone: 089/3838710
          Fax: 089/338308


SUSHI EXPRESS: Caterer Falls into Bankruptcy
--------------------------------------------
The district court of Muenchen opened bankruptcy proceedings
against Sushi Express Catering Services GmbH on July 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 16, 2005
to register their claims with court-appointed provisional
administrator Martin Manstein.

Creditors and other interested parties are encouraged to attend
the meeting on September 14, 2005, 9:00 a.m. at the district
court of Muenchen, 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:  SUSHI EXPRESS CATERING SERVICES GmbH
          Belgradstr. 47 in 80796 Muenchen

          Martin Manstein, Administrator
          Maximiliansplatz 12, 80333 Muenchen
          Phone: 089/211115-00
          Telefax: 089/211115-55


WEINHOLD BAU: Court to Verify Claims December
---------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Weinhold Bau-, Geruestmontage und Service
GmbH on July 8.  Consequently, all pending proceedings against
the company have been automatically stayed.  Creditors have until
October 6, 2005 to register their claims with court-appointed
provisional administrator Hartwig Albers.

Creditors and other interested parties are encouraged to attend
the meeting on August 25, 2005, 9:05 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, 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 on December 1,
2005, 9:55 a.m. at the same venue.

CONTACT:  WEINHOLD BAU-, GERUESTMONTAGE UND SERVICE GmbH
          Niemetzstrasse 51,12055 Berlin

          Hartwig Albers, Administrator
          Luetzowstrasse 100, 10785 Berlin


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


FIAT SPA: Divesting EUR70 Mln Worth of Assets in Mirafiori Area
---------------------------------------------------------------
The Piedmontese Territorial Authorities (Region of Piedmont,
Province of Turin and the City of Turin) and the Fiat Group
reached an agreement in principle to release the value of the
Mirafiori industrial area, sustain the automotive allied industry
and promote personnel training and the activities of research and
technological development.

The agreement provides for the sale of about 300,000 square
meters of the Mirafiori area.  The preliminary sale contract by
Fiat Auto to the local government units will be finalized next
week after the adoption by the Public Authorities of the
necessary resolutions.

Fiat announced its intention to locate an own high level flagship
store in the Mirafiori area.  The agreement also provides for the
sale by Fiat of a large area, not used for industrial activities,
between the cities of Torino and Collegno.  The total value of
the deal will be approximately EUR70 million.

Fiat confirms that it will communicate its future product range
plan on August 3, during the meeting with the Government and the
Unions.  Such plan also will concern the Mirafiori plant.

Turin, July 30, 2005

                            *   *   *

Fiat S.p.A., headquartered in Turin, is one of the largest
industrial groups in Italy and the fourth largest European-based
automobile manufacturer, with revenues of EUR34.2 billion
generated for the 9-month period as at 30 September 2004.  The
founding Agnelli family owns about 30% of the Company.

                            Creditors

Fiat's creditors include Banca Intesa, Banca Monte dei Paschi di
Siena, Banca Nazionale del Lavoro, Capitalia, Sanpaolo IMI, and
UniCredito Italiano.

CONTACT:  FIAT SPA
          via Nizza, 250 - 10126 Torino
          Phone: +39 011 00 63088
          Fax: +39 011 00 63798
          E-mail: mediarelations@fiatgroup.com
          Web site: http://www.fiatgroup.com


FIAT SPA: Outlook Now Stable; S&P Cites Financial Flexibility
-------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
Italy-based automaker Fiat S.p.A. to stable from negative.

At the same time, Standard & Poor's affirmed its 'BB-' long-term
and 'B' short-term corporate credit ratings on the group.

"The change in outlook reflects Fiat's much-improved financial
flexibility and our expectation that its automotive activities
will gradually recover -- although they will remain loss-making
in 2005," said Standard & Poor's credit analyst Nicolas Baudouin.

The group's near-term financial flexibility has significantly
improved since the beginning of 2005, fueled by three major
events:

(a) General Motors Corp. (GM) paid EUR1.55 billion (US$1.9
    billion) in cash for Fiat to terminate the put option on its
    stake in Fiat Auto, which has provided welcome headroom.
    Fiat received EUR1.0 billion in cash in February 2005 and
    the remainder in May;

(b) Creditors have accepted the conversion of the EUR3 billion
    convertible loan maturing in September 2005, which will
    substantially strengthen Fiat's equity and reduce its
    indebtedness; and

(c) The group recently sold Iveco's captive finance arm for
    EUR119 million.  This transaction considerably enhances
    Fiat's credit quality, as it frees up the group's EUR2
    billion cash loan to Iveco Finance Holdings Ltd., which will
    now be financed by Barclays.  This strong improvement in the
    group's short-term liquidity eased negotiations with banks
    just as Fiat's available committed bank lines came to
    maturity in July 2005.  The committed lines of EUR1 billion
    were renewed for three years.

Current ratings still incorporate the weak market position of
Fiat Auto, which has still not achieved break-even and operates
in an increasingly competitive environment.  Continuous
cost-cutting -- notably thanks to better purchasing -- combined
with the launch of new models are, however, poised to stop the
decline in sales and restore positive EBIT in 2006.  The change
in outlook also reflects our expectation that Fiat Auto's
profitability will improve, as suggested by its sharp reduction
in losses in the second quarter of 2005.

The automotive market will remain extremely challenging,
especially for Fiat, which has to compete with more robust
competitors.  Nevertheless, the group is expected to reap the
benefits of its cost-cutting measures, while the introduction of
new models (notably the new Punto) should stop its commercial
decline.  Thanks also to the solid performance of CNH, which is
benefiting from a cyclical rebound in its market and from a
significantly improved cost base, 2005 indicators are expected to
be much better than in 2004, with free cash flows close to zero,
thanks to the cash settlement of GM.  The situation is expected
to be even better in 2006, with positive free cash flows even in
the absence of exceptional in-flows.  The group's recovery
nevertheless remains contingent upon the success of its new car
launches.

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

CONTACT:  STANDARD AND POOR'S RATING SERVICES
          Group E-mail Address
          CorporateFinanceEurope@standardandpoors.com


===================
K A Z A K H S T A N
===================


KAZKOMMERTSBANK: 'BB' Long-term Rating Affirmed; Outlook Stable
---------------------------------------------------------------
Fitch Ratings has affirmed Kazakhstan-based Kazkommertsbank's
ratings at Long-term 'BB' with Stable Outlook, Short-term 'B',
Individual 'C/D' and Support '3'.

KKB's Long-term, Short-term and Individual ratings reflect the
risks inherent in the bank's rapid loan growth and expanded
Russian operations, significant loan concentrations and certain
weaknesses in the bank's operating environment.  However, they
also consider KKB's substantial franchise in Kazakhstan, long
track record of sound performance, well diversified funding base,
sound liquidity and low market risk appetite.

A positive action in respect to the Long-term rating could also
result from a more conservative approach to loan growth, both
domestically and in Russia, demonstration of sound asset quality
following the recent credit expansion and further strengthening
of capital ratios.  Upward pressure on the rating would also
result from an upgrade in the Kazakhstan sovereign Long-term
foreign currency rating ('BBB-'), reflecting an increased ability
of the Kazakhstani authorities to provide support in case of
need.  Downward pressure on the Individual rating could result
from a reduction in capital ratios or a deterioration in asset
quality, the latter in respect to either domestic lending or
exposures in Russia.

KKB was the largest commercial bank in Kazakhstan by IFRS assets
at end-2004, and has top three positions in all major market
segments.  One individual controls a majority stake in the bank.
The European Bank for Reconstruction and Development is a
minority shareholder and actively involved in board-level
decision-making.

CONTACT:  FITCH RATINGS
          James Watson
          Alexei Kechko, Moscow
          Phone: +7 095 956 9901
          Web site: http://www.fitchratings.com

          Media Relations
          Jon Laycock, London
          Phone: +44 20 7417 4327


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


AK-MANDAI: Under Bankruptcy Supervision
---------------------------------------
The Inter District Court of Chui region commenced bankruptcy
supervision procedure on LLC Ak-Mandai on April 11, 2005.
The case is docketed as ED-118/05 MCH-C1.  Mr. Ikramjan Ahunjanov
has been appointed temporary insolvency manager.

CONTACT:  Mr. Ikramjan Ahunjanov,
          Temporary Insolvency Manager
          Phone: (0-502) 45-13-32


BAHTYBAI COMPANY: Gives Creditors Until September to File Claims
----------------------------------------------------------------
LLC Bahtybai Company, which recently became insolvent, will
accept proofs of claim at Bishkek, Sydykova Str. 251 until
September 21, 2005.  Call (0-312) 21-88-73 for more information.


EDELVEIS-TRIKOTAJ: Creditors Meeting Set Today
----------------------------------------------
The temporary insolvency manager of JSC Edelveis-Trikotaj will
meet its creditors on August 3, 2005, 10:00 a.m. at Alamudunsk
district, Oktyabrskaya, Fabrichnaya Str. 1.

Agenda:

(a) Receiving the final report of the temporary insolvency
    manager;

(b) Approval of liquidation report; and

(c) Others

Proxies must have authorization to vote.  Call (0-502) 32-70-64
for more information.


KRAFT: Sets Proofs of Claim Deadline
------------------------------------
LLC Kraft, which recently became insolvent, will accept proofs of
claim until September 21, 2005.  Call (0-502) 80-67-05 for more
information.


MG ROAD: Proofs of Claim Deadline Expires September
---------------------------------------------------
LLC MG Road, which recently became insolvent, will accept proofs
of claim until September 21, 2005.  Call (0-312) 64-88-57 for
more information.


MUNARA KURULUSH: Sets Shareholders Meeting August 23
----------------------------------------------------
OJSC Munara Kurulush will hold a special general meeting of
shareholders on August 23, 2005, 10:00 a.m. at Naryn, Sovetskaya
Str. 119.  Registration starts at 9:00 a.m.

Agenda:

(a) Approval of returning board members;

(b) Approval of liquidation order;

(c) Approval of liquidation commission;

(d) Approval of liquidation balance; and

(e) Approval of payment order.

CONTACT:  MUNARA KURULUSH
          Naryn, Sovetskaya Str. 119.


REMTA: Proofs of Claim Deadline Set September
---------------------------------------------
LLC Remta, which recently became insolvent, will accept proofs of
claim at Bishkek, Den-Syaopina Avenue, 41 until September 21,
2005.

CONTACT:  REMTA
          Bishkek, Den-Syaopina Avenue, 41


SOODA BORBORU: Sets Public Auction Friday
-----------------------------------------
The bidding organizer and insolvency manager of LLC Sooda Borboru
will sell the firm's properties on August 5, 2005, 2:00 p.m. at
Balykchi, Issyk-Kulsk Str. 214.  Up for sale are cars, clothes,
technical equipment and production facilities.

To participate, bidders must submit the necessary documents and
deposit an amount equivalent to 10% of the starting price on or
before August 5, 2005, at Balykchi, Issyk-Kulsk Str. 214.  Call
(0-39-44) 2-51-80 for more information.


STUDENCHESKOYE 2000: Bankruptcy Supervision Starts
--------------------------------------------------
The Inter District Court of Chui region commenced bankruptcy
supervision procedure on Agricultural Cooperative Studencheskoye
2000 on July 4, 2005.  The case is docketed as ED-320/05 MCH-C2.
Mr. Zamirbek Omorov has been appointed temporary insolvency
manager.  Creditors will meet at Bishkek, Moskovskaya Str. 151,
Room 108 on August 5, 2005, 10:00 a.m.

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. Zamirbek Omorov
          Temporary Insolvency Manager
          Phone: (0-502) 31-63-94


TYAN-SHAN BEL: Creditors' Claims Due September
----------------------------------------------
LLC Tyan-Shan Bel Resurses, which recently became insolvent, will
accept proofs of claim until September 21, 2005.  Call (0-312)
21-67-77 for more information.


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


KONINKLIJKE AHOLD: Cements Leading Position in Central Europe
-------------------------------------------------------------
Koninklijke Ahold has agreed with Julius Meinl, a.s. to acquire
up to 67 Julius Meinl supermarkets in the Czech Republic.  This
acquisition will increase Ahold's store count in the Czech
Republic to about 300 and in Central Europe to approximately 520,
reinforcing the company's prominent position in the region.
Completion of this asset transaction is subject to certain
closing conditions including anti-trust approval and is expected
in the second half of 2005.  The transaction amount was not
disclosed.

"We are delighted to be able to announce this transaction," said
Anders Moberg, Ahold President & CEO.  "It represents another
milestone in our recent history.  We are nearing the successful
completion of our divestment program and are now growing the
business in key markets through selective acquisitions such as
the transaction announced [Mon]day."

Following finalization of the transaction, the Julius Meinl
stores will be rebranded to Albert, the banner under which Ahold
operates its supermarkets in the Czech Republic, Slovakia and
Poland.  The number of Albert supermarkets in the Czech Republic
will increase to approximately 250.

Ahold will not only acquire Julius Meinl's store related assets
in the Czech Republic but will also offer employment to the
associates involved.  In addition, Ahold will assume
store-related stock and existing lease agreements.

Ahold has been active in the Czech Republic since 1991.  On
January 1, 2003, the company merged its Czech, Slovak and Polish
operations into one management entity known as Ahold Central
Europe.  This more efficient unit, headquartered in the Czech
capital Prague, strengthened Ahold's local position in all three
markets, enabling the provision of better service throughout
these three trade areas.  Ahold Central Europe, with 2004
consolidated net sales of about EUR1.7 billion, employs
approximately 25,000 associates, of whom 13,000 in the Czech
Republic.

Julius Meinl, a.s. is a subsidiary of Julius Meinl International
AG. Julius Meinl International AG is an Austrian investment
holding company, which through its subsidiaries operates a retail
food chain in Central and Eastern Europe.  In addition, the
company operates a coffee roasting plant and distributes coffee
and tea.  With 2004 retail sales of approximately EUR140 million
in the Czech Republic, Julius Meinl employs about 1,700 people in
its 67 stores.  The stores sell food and grocery items including
meat, fruit and vegetables, baked products and wine and liquor.

CONTACT:  KONINKLIJKE AHOLD N.V.
          Albert Heijnweg 1
          1507 EH Zaandam, The Netherlands
          Phone: +31-75-659-9111
          Fax: +31-75-659-8350
          Web site: http://www.ahold.com


=============
R O M A N I A
=============


BANCA COMERCIALA: Moody's Rates FC Deposit B2/Not-Prime
-------------------------------------------------------
Moody's Investors Service has assigned B2/Not-Prime long- and
short-term foreign currency deposit ratings to Romania's Banca
Comerciala Carpatica S.A.  An E+ financial strength rating has
also been assigned to the bank.  All ratings carry stable
outlooks.

Moody's said that the E+ financial strength rating reflects the
bank's young and small business franchise, its material
related-party business support, as well as its vulnerability to
development risks in its early stages of growth in the evolving
Romanian banking market.  The rating also captures the bank's
adequate financial fundamentals resulting from its focused
operation in SME business and, to a lesser extent, retail
clients.  Both these sectors are experiencing strong expansion
and offer growth opportunities.

Starting from a low base, the bank has been experiencing strong
business and balance sheet growth, and as this trend continues
challenges may arise to control its growth in an increasingly
competitive environment, says Moody's.  The bank displays
adequate financial fundamentals with good earning power and
capitalization, which could support its balance sheet growth.

Profitability levels are satisfactory, but the bank is making
large investments in infrastructure building, while further falls
in interest margins could pressure its bottom line.  Moody's
recognizes, however, that an accelerating growth in business
could compensate for thinning margins over the short- to
medium-term.

While certain related-party exposures on both sides of the
balance sheet need to be addressed, they are not alarming at this
stage.  In Moody's view, one of the challenges facing management
will be the need to expand the funding base and grow the stable
deposit base in order to support the bank's growth.

The rating agency also cites possible challenges in ensuring that
the bank's internal systems, procedures and controls are adequate
and are commensurate with every stage in its development.  In
this regard, Banca Comerciala Carpatica does not have the benefit
of access to the support of a foreign shareholder bank, as do
some of its competitors, and will therefore need to develop its
internal systems based on its own resources.

The B2/Not-Prime deposit ratings reflect the bank's stand-alone
creditworthiness based on its intrinsic franchise strength.
Although the strategic shareholder has so far displayed
willingness to provide capital support for the bank's growth,
Moody's has not imputed external support in the deposit ratings.

Moody's notes that the bank's ratings could move up with a
material growth and maturation of the business franchise, a
build-up of greater financial mass within acceptable risk
parameters and good sustainable revenue base, greater
institutionalization, as well as improvements in the operating
environment.

Banca Comerciala Carpatica is headquartered in Sibiu, Romania,
and had total assets of ROL4,392 million (US$148 million) as at
end-2004.

CONTACT:  MOODY'S INVESTORS SERVICE CYPRUS LIMITED (LIMASSOL)
          Adel Satel, Managing Director
          Financial Institutions Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454

          Mardig Haladjian, General Manager
          Financial Institutions Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454


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


BAKALINSKIY SEL-STROY-SERVICE: Under Bankruptcy Supervision
-----------------------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on limited liability company
Bakalinskiy Sel-Stroy-Service.  The case is docketed as
A07-11894.  Mr. V. Salikaev has been appointed temporary
insolvency manager.  Creditors have until Sept. 2, 2005 to submit
their proofs of claim to 452681, Russia, Bashkortostan republic,
Neftekamsk, Vostochnaya Location-1, Zodchikh Str., 35.

CONTACT:  BAKALINSKIY SEL-STROY-SERVICE
          452650, Russia, Bashkortostan republic,
          Bakalinskiy region, Bakaly

          Mr. V. Salikaev
          Temporary Insolvency Manager
          452681, Russia, Bashkortostan republic, Neftekamsk,
          Vostochnaya Location-1, Zodchikh Str. 35


KASHIRA-MILK: Bankruptcy Hearing Resumes September
--------------------------------------------------
The Arbitration Court of Voronezh region has commenced bankruptcy
supervision procedure on limited liability company Kashira-Milk.
The case is docketed as A14-3636-2005/28/16b.  Ms. N. Mironova
has been appointed temporary insolvency manager.  A hearing will
take place on Sept. 7, 2005.

CONTACT:  KASHIRA-MILK
          Russia, Voronezh region,
          Kashirskoye, Mira Str. 15

          Ms. N. Mironova
          Temporary Insolvency Manager
          394036, Russia, Voronezh region,
          Post User Box 542


METROMEDIA INTERNATIONAL: Concludes PeterStar's Sale
----------------------------------------------------
Metromedia International Group, Inc. completed on Monday the
previously disclosed sale of its entire interest in ZAO
PeterStar.  The cash purchase price of US$215 million was on that
day deposited in the Company's account and all remaining
formalities connected with transfer of the Company's interest in
ZAO PeterStar to the buyer were satisfactorily concluded.

The Company also announced that it has sent a notice of
redemption of all of the Company's outstanding 10 1/2% Senior
Notes due 2007 to the trustee for the Senior Notes.  The
aggregate redemption price of the Senior Notes, including accrued
interest, is approximately US$157.7 million.  The Company
anticipates that the redemption will be completed on August 8,
2005 and will be funded out of a portion of the proceeds from the
PeterStar Sale, which will be placed on deposit with the trustee
later this week.

About Metromedia International Group

Through its wholly owned subsidiaries, the Company owns interests
in communications and media businesses in the country of 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
includes Magticom, Ltd., the leading mobile telephony operator in
Tbilisi, Georgia, and Telecom Georgia, a well-positioned Georgian
long distance telephony operator.

CONTACT:  METROMEDIA INTERNATIONAL GROUP, INC.
          Ernie Pyle
          Phone: 704-321-7380
          E-mail: investorrelations@mmgroup.com


NEW WINDOWS: Declared Insolvent
-------------------------------
The Arbitration Court of Bashkortostan republic commenced
bankruptcy proceedings against New Windows (TIN 02750026123, OGRN
2050204119370) after finding the close joint stock company
insolvent.  The case is docketed as A07-13640/05-G-FLE.  Mr. K.
Katkov has been appointed insolvency manager.

CONTACT:  NEW WINDOWS
          450019, Russia, Bashkortostan republic,
          Ufa, Blagovarskaya Str. 4

          Mr. K. Katkov
          Insolvency Manager
          450019, Russia, Bashkortostan republic,
          Ufa, Blagovarskaya Str. 4


NIVA: Deadline for Proofs of Claim September 2
----------------------------------------------
The Arbitration Court of Vladimir region has commenced bankruptcy
supervision procedure on close joint stock company Niva.  The
case is docketed as A11-1551/2005-K1-33B.  Ms. L. Studneva has
been appointed temporary insolvency manager.

Creditors have until Sept. 2, 2005 to submit their proofs of
claim to 602209, Russia, Murom, Mekhanizatorov, 50-24.  A hearing
will take place on Sept. 27, 2005, 2:30 p.m. located at Russia,
Vladimir region, Oktyabrskiy Pr. 14.

CONTACT:  NIVA
          Russia, Vladimir region,
          Suzdalskiy region, Lyuhkovitsy

          Ms. L. Studneva
          Temporary Insolvency Manager
          602209, Russia, Murom,
          Mekhanizatorov, 50-24


NOVO-KURILOVSKOYE: Proofs of Claim Deadline Expires September
-------------------------------------------------------------
The Arbitration Court of Novosibirsk region has commenced
bankruptcy supervision procedure on open joint stock company
Novo-Kurilovskoye.  The case is docketed as A45-20485/04-SB/171.
Mr. P. Akinshin has been appointed temporary insolvency manager.
Creditors have until Sept. 2, 2005 to submit their proofs of
claim to 633556, Russia, Novosibirsk region, Cherepanovskiy
region, Kurilovka.

CONTACT:  NOVO-KURILOVSKOYE
          633556, Russia, Novosibirsk region,
          Cherepanovskiy region, Kurilovka

          Mr. P. Akinshin
          Temporary Insolvency Manager
          633556, Russia, Novosibirsk region,
          Cherepanovskiy region, Kurilovka


POCHINKI-SEL-KHOZ-TEKHNIKA: Bankruptcy Hearing Set November
-----------------------------------------------------------
The Arbitration Court of Nizhniy Novgorod region has commenced
bankruptcy supervision procedure on open joint stock company
Pochinki-Sel-Khoz-Tekhnika.  The case is docketed as
A43-10708/2005, 33-233.  Mr. L. Tanklevskiy has been appointed
temporary insolvency manager.  A hearing will take place on Nov.
11, 2005, 2:30 p.m.

CONTACT:  POCHINKI-SEL-KHOZ-TEKHNIKA
          Russia, Nizhniy Novgorod region,
          Pochinki, Kommucisticheskaya Str. 16a


PODDUBENSKOYE: Insolvency Manager Takes over Firm
-------------------------------------------------
The Arbitration Court of Voronezh region has commenced bankruptcy
supervision procedure on close joint stock company Poddubenskoye
(TIN 3627015555).  The case is docketed as #A14-6860-2005/56/20b.
Mr. V. Linnik has been appointed temporary insolvency manager.  A
hearing will take place on Oct. 13, 2005, 10:00 a.m. at the
Arbitration Court of Voronezh region located at Russia, Voronezh,
Srednemoskovskaya Str. 77, Room 302.

CONTACT:  PODDUBENSKOYE
          Russia, Voronezh region,
          Rossoshanskiy region, Poddubnoye

          Mr. V. Linnik
          Temporary Insolvency Manager
          Russia, Voronezh region,
          Olkhovatka, Novatorov Str. 14

          The Arbitration Court of Voronezh
          Russia, Voronezh region,
          Srednemoskovskaya Str. 77, Room 302


SEL-KHOZ-KHIMIYA: Names D. Myzalin Insolvency Manager
-----------------------------------------------------
The Arbitration Court of Nizhniy Novgorod region has commenced
bankruptcy supervision procedure on open joint stock company
Sel-Khoz-Khimiya.  The case is docketed as A43-6286/2005-24-169.
Mr. D. Myzalin has been appointed temporary insolvency manager.
A hearing will take place on Sept. 20, 2005, 10:00 a.m.

CONTACT:  SEL-KHOZ-KHIMIYA
          Russia, Nizhniy Novgorod region,
          Lukoyanov, Zagorodnaya Str. 64

          Mr. D. Myzalin
          Temporary Insolvency Manager
          603000, Russia, Nizhniy Novgorod region,
          Post User Box 588

          The Arbitration Court of Nizhniy Novgorod
          603082, Russia, N. Novgord region,
          Kremlin, Room 9


VOS-SIB-TRANS-STROY: Undergoes Bankruptcy Supervision Procedure
---------------------------------------------------------------
The Arbitration Court of Irkutsk region has commenced bankruptcy
supervision procedure on open joint stock company
Vos-Sib-Trans-Stroy.  The case is docketed as A19-10512/05-37.
Mr. N. Kuzakov has been appointed temporary insolvency manager.
A hearing will take place on Oct. 26, 2005, 10:30 a.m.

CONTACT:  VOS-SIB-TRANS-STROY
          664011, Russia, Irkutsk region,
          K. Marksa Str. 30

          Mr. N. Kuzakov
          Temporary Insolvency Manager
          664025, Russia, Irkutsk region,
          Post User Box 3262


ZDVINSKOYE: Bankruptcy Hearing Resumes November
-----------------------------------------------
The Arbitration Court of Novosibirsk region has commenced
bankruptcy supervision procedure on close joint stock company
Zdvinskoye.  The case is docketed as A45-9711/05-27/147.  Mr. O.
Khvorostin has been appointed temporary insolvency manager.

Creditors may send their proofs of claim to 630128, Russia,
Novosibirsk region, Kutateladze Str. 4a, Office 409.  A hearing
will take place on Oct. 10, 2005.

CONTACT:  ZDVINSKOYE
          632959, Russia, Novosibirsk region,
          Zdvinskiy region, Tsvetniki

          Mr. O. Khvorostin
          Temporary Insolvency Manager
          630128, Russia, Novosibirsk region,
          Kutateladze Str. 4a, Office 409


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


AUNA OPERADORES: Merger Could Pose Greater Threat to Telefonica
---------------------------------------------------------------
The consortium led by Spanish cable operator Ono has reportedly
agreed to buy Auna Operadores de Telecomunicaciones S.A.'s fixed
line business Auna TLC for EUR2.25 billion.

Ono's bid was backed by risk capital firms JP Morgan Partners,
Providence Equity Partners, Quadrangle Group LLC and Thomas H Lee
Partners.  It is said to eyeing a EUR1 billion increase in
capital through a bank loan.

According to the Financial Times, the deal if concluded will
create Spain's second-largest dedicated fixed-line and broadband
services operator, behind Telefonica.  Year-end figures for 2004
show that Auna TLC had revenues of EUR1.18 billion, with an
EBITDA of EUR160 million and net losses of EUR172 million.

Ono will be serving 5.7 million homes and 235,639 business
clients with the acquisition that follows France Telecom S.A.'s
EUR10.6-billion takeover of Auna's Amena S.A.

Analysts from Ovum expect the merged Auna TLC-Ono to pose a
greater challenge to Telefonica's dominance "once integration
challenges are overcome and operational synergies are realized."

Auna's major investors Banco Santander Central Hispano S.A.,
Endesa S.A. and Union Fenosa S.A. said the EUR2.25 billion
consideration for Auna TLC involves debt of EUR237 million.

They added that the final price depends on variations in
indebtedness and working capital, stressing that the deal is
still pending both regulatory approval as well as approval by
Auna's board and shareholders.

In July, the Kohlberg Kravis Roberts-led group bidding for Auna
walked out of the auction, fearing that it would be used as a
"stalking horse" to squeeze out a higher offer from competing
bidder France Telecom.

The move follows the pullout of the consortium of U.S.-based Apax
Partners, and U.K.-based Cinven and CVC Capital Partners in
May.

Auna's weak position has been attributed to its failure to
acquire Ono last year, and several investors' intentions to sell
their stakes.

The Spanish government and Banco Santander, which own
17.03 percent of Ono and 32.08 percent of Auna, were earlier said
to be supporting Ono's bid.

CONTACT:  AUNA OPERADORES DE TELECOMUNICACIONES S.A.
          Paseo de la Castellana, 83-85
          28046 Madrid, Spain
          Phone: +34-91-202-41-00
          Fax: +34-91-202-51-71
          Web site: http://www.grupoauna.com


CABLEUROPA S.A.U.: On CreditWatch Pos After Auna Buyout News
------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B-' long-term
corporate credit rating on Spanish cable operator Cableuropa
S.A.U. on CreditWatch with positive implications.  The 'CCC'
rating on guaranteed subsidiary ONO Finance PLC's senior
unsecured notes was also placed on CreditWatch with positive
implications.

This follows Cableuropa's announcement on July 30, 2005, that
Grupo Corporativo ONO, Cableuropa's only shareholder, has reached
an agreement with Grupo Auna and its principal shareholders to
acquire 100% of Auna TLC, the fixed-line and cable business of
the Auna Group, for approximately EUR2.25 billion.

"The CreditWatch placement reflects the possibility that the
ratings on Cableuropa could be raised if the business and
financial profiles of the enlarged group are deemed to have
strengthened as a result of the acquisition," said Standard &
Poor's credit analyst Leandro de Torres Zabala.

"With the limited information currently available, however,
Standard & Poor's considers that the most likely outcome will be
an affirmation of the ratings at current levels."

Nevertheless, we cannot rule out the possibility that the
acquisition might result in some credit benefits that could
materialize in the future.

Credit downside is deemed limited, unless the liquidity of the
enlarged group is poor.

Subject to closing, the acquisition will be part financed through
a capital increase of EUR1 billion to be provided by a group of
investment funds.  The remainder of the financing will be
provided by a series of senior and subordinated debt facilities,
which will refinance the enlarged GCO.

"Standard & Poor's will resolve the CreditWatch placement on
receipt of more information and following regulatory approvals of
the transaction," added Mr. de Torres Zabala.  "Our assessment is
likely to cover the financial impact of the transaction on
Cableuropa's leverage, liquidity, and funding, as well as the
advantages from a business standpoint of being part of an
enlarged group, including expected synergies."

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

CONTACT:  STANDARD AND POOR'S RATING SERVICES
          Group E-mail Address
          CorporateFinanceEurope@standardandpoors.com


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


ESSELTE GROUP: Sells DYMO to Newell Rubbermaid for US$730 Mln
-------------------------------------------------------------
Newell Rubbermaid Inc. (NYSE: NWL) reached a definitive agreement
to acquire DYMO, a global leader in designing, manufacturing and
marketing on-demand labeling solutions, for approximately $730
million in cash.  The acquisition, which is expected to close by
year-end, is subject to applicable regulatory approvals and other
customary closing conditions.  Newell Rubbermaid expects the
acquisition to be neutral to earnings in 2005 and approximately
$0.06 per share accretive in 2006. DYMO is a division of Esselte
Group Holdings AB.

Joseph Galli, chief executive officer of Newell Rubbermaid, said:
"The combination of DYMO and our writing instruments and office
products business represents a significant opportunity given the
complementary nature of the product lines, distribution networks
and geographies.  This is an excellent example of our commitment
to transform our portfolio into a focused group of leadership
platforms through investment in high-quality brands with a proven
track record of bringing innovative new products to the
category."

Magnus Nicolin, chief executive officer of Esselte, said, "Over
the last three years we have invested heavily in DYMO to
substantially build the business.  The announcement is a
confirmation of our success in this effort."

Newell Rubbermaid Office Products Group President, Steve Marton
added, "We are excited about the opportunity to add DYMO to our
leadership portfolio of branded writing instruments and office
products.  The talented team at DYMO has done a tremendous job
developing category-leading products and technologies.  By
leveraging this portfolio and our strong distribution
capabilities, we believe we can maximize this compelling growth
opportunity."

Phil Damiano, president of DYMO, will remain with the
organization and lead this strategic business unit within Newell
Rubbermaid's Office Products Group.

Mr. Damiano said, "DYMO has an impressive track record of growth.
The combined strengths of DYMO and Newell Rubbermaid in the
consumer, office and industrial channels will allow us to build
on this success."

Newell Rubbermaid's Office Products Group accounted for $1.7
billion of the company's $6.5 billion in sales in 2004.  The
group manufactures and markets writing instruments, art products
and office organization supplies, led by a powerful brand family
including Sharpie(R), Paper Mate(R), Parker(R), Waterman(R),
EXPO(R), uni-ball(R), and Rolodex(R).

Esselte plans to use the proceeds of this transaction to
substantially repay all of its current outstanding debt.  In that
connection, Esselte plans on the closing date to call for
redemption its then outstanding 7.625% senior notes due in 2011,
in accordance with Article III of the note indenture.

Esselte will focus its energies on supporting its global filing
and organization business, which consists of Pendaflex and Oxford
in the U.S. and Esselte and Leitz throughout the rest of the
world.  Additionally, it is expected that Esselte will devote
increasingly more resources to building its creative division,
which is made up of the Xyron craft and hobby business.  The
crafting industry has been rapidly growing for the past four
years.  Esselte sees this business as its next growth engine.

About Newell Rubbermaid

Newell Rubbermaid Inc. -- http://www.newellrubbermaid.com/-- is
a global marketer of consumer and commercial products with 2004
sales of $6.5 billion and a powerful brand family including
Sharpie(R), Paper Mate(R), Parker(R), Waterman(R), Rubbermaid(R),
Calphalon(R), Little Tikes(R), Graco(R), Levolor(R),
BernzOmatic(R), VISE-GRIP(R), IRWIN(R) and LENOX(R).  The company
is headquartered in Atlanta, Ga., and has over 31,000 employees
worldwide.

About DYMO

Through its well-known product lines including LabelWriter(R),
LabelManager(R), LetraTAG(R) and RhinoPro, DYMO has built a
strong position in consumer, office and industrial channels in
North America, Europe and Australia, supported by innovative,
patented new products and broad distribution.  DYMO offers a
comprehensive range of manual and electronic labelmakers, PC and
Macintosh connected label printers and related consumables for
all its products.  DYMO, headquartered in Stamford, Conn.,
generated global net sales of approximately $225 million in 2004.

About Esselte

Esselte Group Holdings AB -- http://www.esselte.com/--, whose
registered office is in Solna, Sweden, and whose executive office
is in Stamford, Conn., U.S.A., is a leading global office
supplies manufacturer with 2004 annual sales of approximately
$1.2 billion, operations in 33 countries (including Hong Kong)
and approximately 5,600 employees worldwide.  The Company
develops, manufactures and sells products that simplify the
modern home and workplace.

Esselte sells more than 20,000 different office product SKUs in
over 120 countries.  In addition to DYMO its principal brands
include Esselte, Leitz, Pendaflex and Xyron.

                         *     *     *

In May, Standard & Poor's Ratings Services affirmed is 'B'
corporate credit and 'CCC+' subordinated debt ratings on office
products manufacturer Esselte Group Holdings AB.

At the same time, the ratings were removed from CreditWatch with
negative implications, where they were placed on Nov. 23, 2004.
The outlook is stable.  Total debt outstanding as of April 3,
2005 was $413.8 million.

CONTACT:  ESSELTE GROUP
          44 Commerce Road,
          Stamford, CT 06902-4561, U.S.A.
          Media Contact:
          Phone: +1 203.355.9022
          Fax: +1 203.355.9010
          Web site: http://www.esselte.com


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


ABB LTD.: Restructuring Charges Adjustments to Hit Profit
---------------------------------------------------------
Highlights of Second-quarter Results

(a) EBIT up 16% to US$371 million on strong operational
    performance, despite a number of special charges;

(b) Group orders grew 8%, revenues 10%; and

(c) Cash flow from operating activities at US$168 million, up
    US$280 million.

2005 Q2 key figures (unaudited)
($ in millions)                  Q2 05   Q2 04[1] Change[3]
Orders Group                     6,142   5,695      8%
Power Technologies              2,819   2,714      4%
Automation Technologies         3,264   2,881     13%
Revenues Group                   5,724   5,209     10%
Power Technologies              2,399   2,242      7%
Automation Technologies         3,151   2,689     17%
EBIT[2] Group                      371     321     16%
Power Technologies                138     184    (25%)
Automation Technologies           336     263     28%
Non-core activities               (10)      2
Corporate                         (93)   (128)
EBIT margin Group                    6.5%    6.2%
Power Technologies                  5.8%    8.2%
Automation Technologies            10.7%    9.8%
Loss from discontinued operations  (22)    (58)
Net income                         126      89
Basic net income per share         0.06   0.04

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
[1] Adjusted to reflect the reclassification of the oil, gas and
petrochemicals business to continuing operations, and of other
activities to Discontinued operations in 2004.

[2] Earnings before interest and taxes.

[3] In U.S. dollars.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

ABB reported higher orders, revenues, earnings before interest
and taxes (EBIT) and net income in the second quarter of 2005
compared to the same quarter in 2004, resulting from continued
growth in most markets and further progress in lifting
operational efficiency.

EBIT increased 16% to US$371 million, led by a strong performance
from the Automation Technologies division (AT), which reported
double-digit order, revenue and EBIT growth.  Orders and revenues
were also higher in the Power Technologies division (PT), but an
expense of US$66 million related to the consolidation of the
transformer business, announced in June, reduced EBIT compared to
the same quarter in 2004.

Additional costs of approximately US$65 million for previously
announced non-asbestos related regulatory and litigation costs
-- the majority of which was recorded in interest
expense --further reduced profit in the quarter.

Despite these significant charges, net income rose 42% to US$126
million compared to the same quarter in 2004 but was down from
US$199 million in the first quarter of 2005.

Cash inflow from operating activities increased by US$280 million
compared to the same quarter in 2004, mainly due to Non-core and
Corporate activities.

"We had another quarter of strong operational performance,
building on the momentum we saw at the beginning of the year,"
said Fred Kindle, ABB President and CEO.  "Although we took
sizable provisions to improve the longer-term profitability of
our transformer business and to cover litigation and regulatory
costs, we were able to improve our profitability once more.  Our
focus remains on improving our business execution quickly and
lifting operational efficiency even further."

Second-quarter Market Overview

Demand for ABB's products and services grew in most business
areas during the second quarter of 2005.  Continuing strong
growth in base orders (less than US$15 million) across almost all
businesses areas indicates that underlying economic conditions
remained favorable, and helped maintain ABB's order backlog at
high levels.

Power utilities in North America and Europe continued to invest
in replacing and upgrading transmission and distribution
equipment.  In Asia, the Middle East and South America, utilities
invested in new power infrastructure.  There were fewer large
power transmission orders in the quarter compared to the same
period last year, leading to lower bookings from Asia, but
longer-term growth drivers for these projects remain in place in
all regions.

In line with the business cycle in most of ABB's industrial
customer segments, investments focused primarily on improving the
efficiency of existing plants and equipment, and demand continued
to grow in the oil and gas, minerals and metals, marine,
chemicals and automotive markets.  Demand continued to be weak in
the pulp and paper and construction sectors.  As in the power
market, industrial customers focused spending on upgrading
existing assets rather than greenfield investments. Industrial
orders increased in all regions.

Summary of Second-quarter Results

Orders received in the second quarter of 2005 grew 8% (local
currencies: 4%) to US$6,142 million.  Base orders increased in
almost all business areas and in all regions as demand continued
to improve across most customer segments.  This increase more
than offset an approximately 50% decrease in large orders (over
US$15 million).

Base orders amounted to US$5,691 million for the group,
representing 93% of total orders, compared to 84% of total orders
in the second quarter of 2004.  The higher level of large orders
in the second quarter of 2004 was due mainly to a US$390-million
high-voltage transmission line order in China in the Power
Technologies division and a large robotics order in the U.S. in
Automation Technologies.

Regionally[1], growth was strongest in the Americas, up 32%
(local currencies: 26%) to US$1,212 million, with utilities in
North America continuing to invest in equipment upgrades and with
most industrial sectors continuing to grow.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
[1] ABB's regional reporting structure comprises four regions:
Europe, Asia, the Middle East and Africa, and the Americas.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

In Europe, orders grew 13% to US$2,970 million (local currencies:
9%).  PT orders were higher in both dollars and local currencies,
led by higher product orders in western Europe and a large power
transmission system order in eastern Europe.  Orders were also
higher for AT in both eastern and western Europe.

Orders in Asia decreased 9% to US$1,449 million (local
currencies: down 13%) in the second quarter of 2005.  This was
primarily the result of a large power transmission order in China
received during the comparable quarter of 2004.  However, PT's
base orders in China continued to grow.  Total AT orders in Asia
increased in the quarter as higher orders in India and several
other countries more than made up for a small decrease in China.

In the Middle East and Africa, orders were 6% lower in the second
quarter at USUS$511 million (local currencies: 8% lower),
primarily reflecting lower large orders in the oil and gas
business in Non-core activities and in the Power Technology
Systems business area.

The order backlog for the group, including Non-core activities,
at the end of the second quarter of 2005 was US$12,832 million,
down 1% compared to the end of the first quarter of 2005 (local
currencies: up 3%).  The combined order backlog for the two
divisions amounted to US$11,958 million at the end of June 2005,
flat compared to the end of March 2005 (local currencies: up 4%).

Revenues in the second quarter amounted to US$5,724 million, an
increase of 10% (local currencies: 6%), reflecting the strong
order backlog.  Revenues were higher in most business areas and
in all regions except the Middle East and Africa.  The largest
increase was in the Americas, up 17% (local currencies: 12%) to
US$1,020 million.  Revenues in Asia increased 15% (local
currencies: 11%) to US$1,238 million, as an improvement in AT
revenues more than offset a decrease in PT.  Revenues in Europe
improved 8% (local currencies: 4%) to US$2,972 million.  In the
Middle East and Africa, revenues were down 4% to US$494 million
(local currencies: down 6%).

The revenue increase was mainly the result of higher volumes,
although price increases were achieved in some product lines.

EBIT was US$371 million in the second quarter of 2005, up 16%
compared to the same period in 2004.  The biggest improvement
came from the Automation Technologies division, mainly the result
of higher factory loading, ongoing productivity improvements and
low-cost sourcing initiatives.  EBIT in the Power Technologies
division decreased, as productivity and capacity utilization
improvements in some businesses and a net gain of approximately
US$10 million on the sale of property was more than offset by a
charge of US$66 million related to the consolidation program for
the transformers business announced in June 2005 and a provision
for potential regulatory expenses in the Power Technology Systems
business.

Corporate costs were US$35 million lower, as headquarters costs
in several countries and in the Zurich head office were reduced
compared to the year-earlier period.  EBIT from Non-core
activities decreased to a loss of US$10 million from a profit of
US$2 million in the second quarter of 2004, as an asset
write-down and charges related to potential litigation offset an
improvement in the Building Systems business in Germany.

The EBIT margin in the second quarter rose to 6.5% from 6.2% in
the same quarter of 2004.  The EBIT margin in Automation
Technologies increased to 10.7% from 9.8%.  The EBIT margin in
Power Technologies decreased to 5.8% from 8.2% in the
year-earlier period.

Finance net[2] was a net expense of US$95 million in the second
quarter compared to US$50 million in the second quarter of 2004.
Included in finance net in the second quarter of 2005 is a
one-time interest expense of approximately US$40 million, the
majority of which was related to litigation stemming from a fine
levied against ABB in 1998 following violations of European Union
competition rules in the district heating business (divested in
1999).

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
[2]Finance net is the difference between interest and dividend
income and interest and other finance expense.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Tax expense amounted to US$101 million (effective tax rate of
approximately 37%) in the second quarter of 2005 compared to
US$96 million (effective tax rate of approximately 35%) in the
second quarter of 2004.  The higher effective tax rate is due
primarily to the impact of the special charges recorded in the
quarter.

The net loss in Discontinued operations amounted to US$22
million, including a US$6-million loss related to the sale of the
power lines business in Germany and a US$10-million expense on
the mark-to-market treatment of the approximately 30 million ABB
shares reserved to cover part of the company's asbestos
liabilities (please refer to the table in Appendix I on page 9 of
this release for more information).

ABB's net income for the second quarter was US$126 million,
compared to US$89 million for the same period in 2004, despite
charges in the quarter for the transformer consolidation,
regulatory expenses and potential litigation, all totaling more
than US$130 million.

Balance Sheet

Cash and marketable securities at the end of June 2005 amounted
to US$3.6 billion (excluding Discontinued operations), down from
US$3.7 billion at the end of March 2005.

At the end of June 2005, total debt (defined as total short and
long-term borrowings) amounted to US$4.9 billion, compared to
US$5.2 billion at March 31, 2005.  The decrease reflects the
strengthening of the U.S. dollar during the quarter, which had
the effect of lowering the company's reported debt when
translating debt denominated in Euros and Swiss francs into U.S.
dollars.  Included in ABB's total debt is approximately US$200
million in bonds due for repayment in the third quarter of 2005.

As a result, net debt (total debt less cash and marketable
securities) was US$1.3 billion at the end of the second quarter
of 2005, compared to US$1.5 billion at the end of the first
quarter of 2005.

Gearing, defined as total debt divided by total debt plus
stockholders' equity (including minority interest), was 60% at
the end of June 2005, compared to 61% at the end of the previous
quarter.

Stockholders' equity (including minority interests) at June 30,
2005, was US$3,333 million compared to US$3,299 million at the
end of March 2005.

Cash flow from operating activities*

(unaudited) US$ in millions    Q2 2005 Q2 2004 Change
Power Technologies               101      35    66
Automation Technologies          190     225   (35)
Non-core activities              (36)   (161)  125
Corporate                        (87)   (211)  124
Net cash generated (used)
from operating activities       168    (112)  280

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
* Includes cash flows from items classified as Discontinued
operations.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Net cash generated from operating activities for the group in the
second quarter of 2005 increased by US$280 million compared to
the second quarter of 2004. The biggest improvements were in
Non-core and Corporate activities.

The improved cash flow in Non-core activities reflects the large
cash outflow in the second quarter of 2004 resulting from the
reduction of approximately US$100-million in securitization
activities in preparation for the sale of the upstream oil and
gas business in July 2004.

In Corporate, cash flow improved due to lower costs, differences
in the timing of securitization activities compared to the same
quarter in 2004, and lower cash outflow related to asbestos
payments (US$12 million in the second quarter of 2005 compared to
US$28 million in the year-earlier period).

The two divisions reported cash generated in the quarter of
US$291 million, up US$31 million compared to the same period in
2004.  Cash flow in PT increased, with working capital as a
percentage of revenue reduced further.  Cash flow decreased in AT
on higher working capital to support the strong revenue growth.

The reduction of securitization activities in the group reduced
cash flow over the first six months of 2005 by approximately
US$150 million.

Asbestos

On March 21, 2005, ABB announced that it had reached agreement on
certain settlement points that would form the basis for revised
plans of reorganization for its U.S. subsidiaries, Combustion
Engineering (CE) and ABB Lummus Global Inc., to resolve the
asbestos claims of both companies following the U.S. Third
Circuit Court of Appeals decision of December 2, 2004.

A revised CE Plan of Reorganization was filed with the U.S.
Bankruptcy Court in Pittsburgh, Pennsylvania, on June 24, 2005.
A hearing on the plan's Disclosure Statement before the
Bankruptcy Court is scheduled for August 19, 2005, after which
the plan will be submitted to claimants for a vote of approval.
ABB continues to work with the various parties to the settlement
points in an effort to resolve all of the issues in a timely
manner.

Group Outlook

On June 30, 2005, ABB announced a four-year consolidation program
for its global transformer business, which is expected to result
in total charges of approximately US$240 million over the period
2005 to 2008.  Of that, some US$120 million is expected to be
incurred in 2005.  As a result of these additional charges, and
higher raw material costs, ABB revised the 2005 EBIT margin
target for the Power Technologies division and, consequently, for
the ABB group.

The new 2005 PT EBIT margin target is 6.8-7.3%.  ABB lowered its
2005 group EBIT margin target to 6.6-7.1% from 7.7%.

The consolidation program has no impact on the 2005 EBIT margin
target for the Automation Technologies division, which remains
unchanged at 10.7%.  Progress remains on track towards the
previously communicated guidance on corporate costs (maximum
US$450 million for the full year 2005) and the operational
performance of Non-core activities (break-even for the full year
2005).

ABB's revenue growth targets also remain unchanged.  From 2002
through to the end of 2005, ABB expects compound average annual
revenue growth of 4% in local currencies.  The Power Technologies
division expects compound average annual revenue growth of 5.3%
in local currencies.  The Automation Technologies division
expects compound average annual revenue growth of 3.3% in local
currencies.

The company continues to reduce its financial obligations.  The
focus will be on creating the most value for the company by
reducing overall financing costs and adjusting the risk profile
of the debt portfolio.

Revenue and margin targets exclude major acquisitions,
divestitures and business closures.

Release of New Targets

ABB plans to publish new financial performance targets covering
the period from 2006 to 2009 on September 6, 2005.

CONTACT:  ABB LTD.
          Affolternstrasse 44
          CH-8050 Zurich, Switzerland
          Investor Relations
          Switzerland
          Phone: +41 43 317 7111
          Sweden
          Phone: +46 21 325 719
          USA
          Phone: +1 203 750 7743
          Web site: http://www.abb.com/


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


DNIPROHIMREMONT: Succumbs to Bankruptcy
---------------------------------------
The Economic Court of Dnipropetrovsk region has commenced
bankruptcy supervision procedure on OJSC Dniprohimremont (code
EDRPOU 04609608).  The case is docketed as B40/51/05.  Mr.
Oleksandr Kotenko (License Number AA 630018) has been appointed
temporary insolvency manager.  The company holds account number
26002319000201 at CB Novij, Dnipropetrovsk branch, MFO 305062.

Creditors have until today to submit their proofs of claim to:

(a) DNIPROHIMREMONT
    51909, Ukraine, Dnipropetrovsk region,
    Dniprodzerzhinsk, Gorobtsya Str. 196

(b) Mr. Oleksandr Kotenko
    Temporary Insolvency Manager
    49098, Ukraine, Dnipropetrovsk region, a/b 4950

(c) ECONOMIC COURT OF DNIPROPETROVSK REGION
    49600, Ukraine, Dnipropetrovsk region,
    Kujbishev Str. 1a


KRIOLIT: Temporary Insolvency Manager Takes over Helm
-----------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on LLC Kriolit (code EDRPOU 00953787) on
May 19, 2005.  The case is docketed as B24/100/05.  Mr. Leonid
Talan (License Number AB 216750) has been appointed temporary
insolvency manager.  The company holds account number
26009002000571 at JSCB Premierbank, Dnipropetrovsk branch, MFO
305686.

Creditors have until Aug. 3 to submit their proofs of claim to:

(a) KRIOLIT
    Ukraine, Dnipropetrovsk region,
    Artema Str. 196/28

(b) Mr. Leonid Talan
    Temporary Insolvency Manager
    49000, Ukraine, Dnipropetrovsk region, a/b 158

(c) ECONOMIC COURT OF DNIPROPETROVSK REGION
    49600, Ukraine, Dnipropetrovsk region,
    Kujbishev Str. 1a


PAVLOGRAD' BREAD: Bankruptcy Supervision Starts
-----------------------------------------------
The Economic Court of Dnipropetrovsk region has commenced
bankruptcy supervision procedure on Pavlograd' Bread Products
Combine (code EDRPOU 00953787).  The case is docketed as
B24/B15/55/01.  Mr. O. Shikulenko (License Number AA 483245) has
been appointed temporary insolvency manager.  The company holds
account number 26001008640201 at JSPPB Aval, Pavlograd branch,
MFO 306726.

Creditors have until today to submit their proofs of claim to:

(a) PAVLOGRAD' BREAD PRODUCTS COMBINE
    51400, Ukraine, Dnipropetrovsk region,
    Pavlograd, Zavodska Str. 1-a

(b) Mr. O. Shikulenko
    Temporary Insolvency Manager
    49000, Ukraine, Dnipropetrovsk region,
    Shirshov Str. 7
    Phone: (0562) 32-07-00

(c) ECONOMIC COURT OF DNIPROPETROVSK REGION
    49600, Ukraine, Dnipropetrovsk region,
    Kujbishev Str. 1a


RIVNE' MILK: Falls into Insolvency
----------------------------------
The Economic Court of Rivne region commenced bankruptcy
proceedings against LLC RIVNE' MILK PLANT (code EDRPOU 31141274)
on April 28, 2005 after finding the limited liability company
insolvent.  The case is docketed as 8/21.  Mr. I. Dragun (License
Number AA 719819) has been appointed liquidator/insolvency
manager.

CONTACT:  RIVNE' MILK
          35700, Ukraine, Rivne region,
          Zdolbuniv, Shevchenko Str. 11

          Mr. I. Dragun
          Liquidator/Insolvency Manager
          33028, Ukraine, Rivne region, 34/14

          ECONOMIC COURT OF RIVNE REGION
          33001, Ukraine, Rivne region,
          Yavornitski Str. 59


SERPNEVE: Applies for Bankruptcy Proceedings
--------------------------------------------
The Economic Court of Hmelnitskij region commenced bankruptcy
proceedings against Serpneve (code EDRPOU 31254589) on June 17,
2005 after finding the limited liability company insolvent.  The
case is docketed as 17/298-B.  Mr. Sergij Yevtushenko (License
Number AA 783178) has been appointed liquidator/insolvency
manager.  The company holds account number 260026238 at JSPPB
Aval, Hmelnitskij branch, MFO 315966.

Creditors have until Aug. 3 to submit their proofs of claim to:

(a) SERPNEVE
    30450, Ukraine, Hmelnitskij region,
    Shepetivka district, Velika Reshnivka

(b) Mr. Sergij Yevtushenko
    Liquidator/Insolvency Manager
    30400, Ukraine, Hmelnitskij region,
    Shepetivka, Gorbatuk Str. 12/102
    Phone: (097) 213-53-81

(c) ECONOMIC COURT OF HMELNITSKIJ REGION
    29000, Ukraine, Hmelnitskij region,
    Nezalezhnosti Square, 1


SHID-ZAHID: Lviv Court Appoints Insolvency Manager
--------------------------------------------------
The Economic Court of Lviv region commenced bankruptcy
proceedings against LLC SHID-ZAHID (code EDRPOU 223397883) after
finding the limited liability company insolvent.  Mr. T. Panas
(License Number AA 485217) has been appointed
liquidator/insolvency manager.  The company holds account number
26002301413056 at Prominvestbank, Novoyavorivsk branch, MFO
325633.

Creditors have until today to submit their proofs of claim to:

(a) SHID-ZAHID
    81070, Ukraine, Lviv region,
    Yavorivskij district, Ivano-Frankove,
    Yavorivska Str. 37/10

(b) Mr. T. Panas
    Liquidator/Insolvency Manager
    Ukraine, Lviv region,
    Syanska Str. 20/9-a

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


SIMKOMUNSERVICE: Falls into Bankruptcy
--------------------------------------
The Economic Court of AR Krym region commenced bankruptcy
supervision procedure on CJSC Simkomunservice (code EDRPOU
13778729) on May 20, 2005.  The case is docketed as 2-8/8860-
2005.  Ms. Bikova Svitlana (License Number AA 116147) has been
appointed temporary insolvency manager.

Creditors have until Aug. 3 to submit their proofs of claim to:

(a) SIMKOMUNSERVICE
    Ukraine, AR Krym region,
    Simferopol, Kirov Avenue, 52

(b) Ms. Bikova Svitlana
    Temporary Insolvency Manager
    Ukraine, AR Krym region,
    Sevastopol, Gorpishenko Str. 92/3

(c) THE ECONOMIC COURT OF AR KRYM REGION
    95000, Ukraine, AR Krym region,
    Simferopol, Karl Marks Str. 18


TEHBUDSKLO: Names Illya Maksimov Liquidator
-------------------------------------------
The Economic Court of Donetsk region declared State Enterprise
Tehbudsklo (code EDRPOU 31106177) insolvent on June 1, 2005.  The
case is docketed as 15/180 B.  Mr. Illya Maksimov (License Number
AA 668258) has been appointed liquidator/insolvency manager.  The
company holds account numbers 26000318051001 and 26001318051011
at CB Privatbank, Kostyantinivka branch, MFO 335269.

Creditors have until Aug. 3 to submit their proofs of claim to:

(a) TEHBUDSKLO
    85104, Ukraine, Donetsk region,
    Kostyantinivka, Shmidt Str. 20

(b) Mr. Illya Maksimov
    Liquidator/Insolvency Manager
    84318, Ukraine, Donetsk region,
    Kramatorsk, Habarovska Str. 163

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


TEHOSNASTKA: Proofs of Claim Deadline Expires Today
---------------------------------------------------
The Economic Court of Dnipropetrovsk region declared CJSC
Tehosnastka (code EDRPOU 02968606) insolvent on June 14, 2005.
The case is docketed as B24/131/05.  Mr. Dmitro Shistopal has
been appointed liquidator/insolvency manager.

Creditors have until today to submit their proofs of claim to:

(a) Mr. Dmitro Shistopal
    Liquidator/Insolvency Manager
    Ukraine, Dnipropetrovsk region, a/b 5429
    Phone: (050) 955-08-73

(b) ECONOMIC COURT OF DNIPROPETROVSK REGION
    49600, Ukraine, Dnipropetrovsk region,
    Kujbishev Str. 1a


UKRAINA: Rivne Court Opens Bankruptcy Proceedings
-------------------------------------------------
The Economic Court of Rivne region commenced bankruptcy
proceedings against FARMER ENTERPRISE UKRAINA (code EDRPOU
30719118) on April 13, 2005 after finding the farmer enterprise
insolvent.  The case is docketed as 9/24.  Mr. I. Dragun (License
Number AA 719819) has been appointed liquidator/insolvency
manager.

CONTACT:  UKRAINA
          35200, Ukraine, Rivne region,
          Demidivka, Shkilna Str. 6

          Mr. I. Dragun,
          Liquidator/Insolvency Manager
          33028, Ukraine, Rivne region, 34/14

          ECONOMIC COURT OF RIVNE REGION
          33001, Ukraine, Rivne region,
          Yavornitski Str. 59


YUZHENERGOBUD: Under Bankruptcy Supervision
-------------------------------------------
The Economic Court of Mikolaiv region commenced bankruptcy
supervision procedure on OJSC Yuzhenergobud (code EDRPOU 4610809)
on March 24, 2005.  The case is docketed as 14/169.  Ms. Larisa
Timogeyeva (License Number AA 668314) has been appointed
temporary insolvency manager.  The company holds account number
26005301460129 at Prominavestbank, Yuzhnoukrainsk branch, MFO
326427.

Creditors have until today to submit their proofs of claim to:

(a) YUZHENERGOBUD
    55000, Ukraine, Mikolaiv region,
    Yuzhnoukrainsk, Promzona, a/b 327

(b) Ms. Larisa Timogeyeva
    Temporary Insolvency Manager
    54003, Ukraine, Mikolaiv region,
    Kuporna Str. 115

(c) ECONOMIC COURT OF MIKOLAIV REGION
    54009, Ukraine, Mikolaiv region,
    Admiralska Str. 22


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


ALADDINS CAVE: Applies for Liquidation
--------------------------------------
At an Extraordinary General Meeting of the Members of Aladdins
Cave (London) Limited, duly convened, and held at the offices of
Harris Lipman, 2 Mountview Court, 310 Friern Barnet Lane,
Whetstone, London N20 0YZ, on 27 June 2005, at 5:15 p.m., the
following Extraordinary Resolution was duly passed:

"That the Company cannot, by reason of its liabilities, continue
its business, and it is advisable to wind up the Company, and
accordingly that the Company be wound up voluntarily and that
Freddy Khalastchi, an Insolvency Practitioner, licensed by the
Institute of Chartered Accountants in England and Wales, of
Harris Lipman, 2 Mountview Court, 310 Friern Barnet Lane,
Whetstone, London N20 0YZ, is hereby appointed as Liquidator of
the Company for the purposes of the voluntary winding-up."

At the subsequent Meeting of Creditors held at the offices of
Harris Lipman, 2 Mountview Court, 310 Friern Barnet Lane,
Whetstone, London N20 0YZ, on 11 July 2005, the voluntary
liquidation was confirmed by the Creditors, and the appointment
of Freddy Khalastchi , of Harris Lipman, 2 Mountview Court, 310
Friern Barnet Lane, Whetstone, London N20 0YZ, as Liquidator was
ratified.

J C B Hur, Chairman

CONTACT:  HARRIS LIPMAN
          2 Mountview Court,
          310 Friern Barnet Lane,
          Whetstone, London N20 0YZ
          Phone: (020) 8446 9000
          Fax:   (020) 8446 9537
          Web site: http://www.harris-lipman.co.uk


ARCWELD FABRICATIONS: Members Opt for Liquidation
-------------------------------------------------
At an Extraordinary General Meeting of the Members of Arcweld
Fabrications Limited, duly convened, and held at The Moat House,
Higher Bridge Street, Bolton, on 13 July 2005, at 11:00 a.m., the
following Resolutions were duly passed, as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Gordon Craig and Daniel Paul Hennessy, of Cresswell Associates
Limited, Bridge House, Marsh Lane, Shepley, Huddersfield HD8 8AE,
be and they are hereby appointed Joint Liquidators of the Company
for the purpose of the voluntary winding-up."

At a subsequent Meeting of Creditors held later that day and at
the same venue, the above Resolutions were also approved by
Creditors.

J Sharples, Director


ASHTEAD GROUP: Shareholders Approve Placing and Open Offer
----------------------------------------------------------
At the Extraordinary General Meeting of Ashtead Group plc, the
Resolutions which were set out in the notice of Extraordinary
General Meeting included in the circular to Shareholders dated 7
July 2005 were duly passed.

The New Ordinary Shares to be issued under the Placing and the
Open Offer will be credited as fully paid and will rank pari
passu with the Existing Ordinary Shares in all respects.

The Placing and the Open Offer remain conditional upon Admission
and the concurrent Debt Issue becoming unconditional.  It is
expected that Admission will take place and that dealings in the
New Ordinary Shares will commence on 3 August 2005 (immediately
following the completion of the Debt Issue).

Terms used in this Announcement shall have the same meanings as
set out in the Prospectus dated 7 July 2005.

                            *   *   *

Registered in the U.K., Ashtead is a leading provider of rental
equipment in the U.K. and the U.S. through it's a-Plant and
Sunbelt subsidiaries.  As at financial year ending April 30,
2005, the group generated annual revenues of GBP523.7 million and
EBITDA of GBP169.7 million; net debt was GBP493.2 million.

Ashtead is pursuing a refinancing that includes a Placing and
Open Offer to raise GBP70 million, and the issuance of New Senior
Loan Notes (by Ashtead Holdings plc) to raise US$250 million
(approximately GBP142 million), before expenses.  The equity
placement is fully underwritten by J.P. Morgan Securities and
Evolution.

The group expects that through the refinancing it will:

(a) improve its financial flexibility by satisfying early its
    obligations to repay [a GBP130 million] Convertible Loan
    Note;

(b) avoid the potential dilution to existing shareholders which
    would occur if the Convertible Loan Note were to convert
    into equity; and

(c) redeem up to 35% of the Senior Loan Notes.

This refinancing will complete the restructuring of the Group's
capital base, which commenced in April 2004 with the issue of the
Senior Loan Notes.  The Convertible Loan Note was issued to a
subsidiary of Rentokil Initial plc by Ashtead in part
consideration for the acquisition of BET USA, Inc. in June 2000.
It is redeemable at par on 31 March 2008 but under the terms of
the Senior Secured Credit Facility, must be refinanced by Ashtead
prior to November 2007.

Ashtead has agreed the terms for the grant of an option with
Rentokil Initial plc to repay early the Convertible Loan Note in
its entirety for a total sum of GBP119.5 million plus all
outstanding accrued unpaid interest (assuming that the option is
exercised on or before 15 August 2005).

CONTACT:  ASHTEAD GROUP PLC
          King's Court, 41-51 Kingston Rd.
          Leatherhead
          Surrey KT22 7AP, United Kingdom
          Phone: +44-1372-362-300
          Fax: +44-1372-376-610
          Web site: http://www.ashtead-group.com

          George Burnett, Chief Executive Officer
          Ian Robson, Chief Finance Officer
          Phone: +44 (0)1372 362300


ATLANTIC PROPERTY: DTI Applies for Winding-up Order
---------------------------------------------------
The Secretary of State for Trade and Industry has filed a
petition in the High Court to wind up Atlantic Property Limited,
said The Creditman.

This follows a probe conducted by the Department's Companies
Investigation Branch under section 447 of the Companies Act 1985.
The Court has appointed the Official Receiver as provisional
liquidator of the London-based residential letting agent, pending
the hearing of the petition set for September 21, 2005.  The
petition was filed under Section 124A of the Insolvency Act 1986.

The Official Receiver is tasked to protect and preserve the
assets and financial records of the company.  Mr. Neil Morgan and
Ms. Susan Morgan are the directors of Atlantic Property.

CONTACT:  ATLANTIC PROPERTY LIMITED
          78 York Street
          London
          W1H 1DP

          THE OFFICIAL RECEIVER
          Public Interest Unit
          21 Bloomsbury Street
          London
          WC1B 3SS
          Phone: 020 7637 1110


AUTOSHIELD WINDSCREENS: Calls in Liquidator
-------------------------------------------
At an Extraordinary General Meeting of the Members of Autoshield
Windscreens (UK) Limited, duly convened, and held at 71 Preston
New Road, Blackburn, on 20 July 2005, the following Extraordinary
Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
David Bottomley, of Wilson Phillips, 71 Preston New Road,
Blackburn BB2 6AY, be and he is hereby nominated Liquidator for
the purpose of the winding-up."

G J Newburn, Director

CONTACT:  WILSON PHILLIPS LTD.
          71 Preston New Road
          Blackburn
          Lancashire
          BB2 6AY
          E-mail: d.bottomley@wilsonphillips.co.uk
          Phone: 01254 660441
          Fax: 01254 660443


BROOK BUILDING: DTE Leonard Administrators Take over Operation
--------------------------------------------------------------
Name of company: BROOK BUILDING CONTRACTORS LIMITED
                 (Company No 03353254)

Nature of Business: Building Contractors

Address of Registered Office: Nash Harvey, Prentic Chambers, 41
Earl Street, Maidstone, Kent ME14 1PF

Date of Appointment: July 18, 2005

Administrators' Names and Address: A. Clifton and A. Poxon (IP
Nos 8766 and 8620), both of DTE Leonard Curtis, 85-89 Colmore
Row, Birmingham B3 2BB

                            *   *   *

Brook Building is based in West London, but works throughout the
United Kingdom.  Glenn Brookes founded the company in 1994.  It
employs over 50 people, including chartered surveyors, site
foreman, plumbers and electricians.  Its turnover exceeds GBP3
million per annum.  Visit http://www.brookbuilding.co.uk/for
more information.

CONTACT:  BROOK BUILDING CONTRACTORS LTD
          6 Parkside
          Ravenscourt Park
          London W6 0UU
          Phone: 020 8741 1991
          Fax: 020 8741 1818
          E-mail: info@brookbuilding.co.uk

          DTE LEONARD CURTIS
          85-89 Colmore Row,
          Birmingham B3 2BB


CABLE OPTIONS: Appoints Begbies Traynor Liquidator
--------------------------------------------------
At an Extraordinary General Meeting of the Members of Cable
Options Ltd., duly convened, and held at Exeter Court Hotel,
Kennford, Exeter EX6 7UX, on 20 July 2005, the following
Resolutions were duly passed, as an Extraordinary Resolution and
as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that I
E Walker, of Begbies Traynor, Balliol House, Southernhay Gardens,
Exeter EX1 1NP, be and hereby is appointed Liquidator of the
Company for the purpose of the voluntary winding-up, and any act
required or authorised under any enactment to be done may be done
by any one or more persons holding the office of Liquidator from
time to time."

Chairman

CONTACT:  BEGBIES TRAYNOR
          Balliol House,
          Southernhay Gardens,
          Exeter EX1 1NP
          Web site: http://www.begbies.com


CELSIUS HEATING: Members Decide to Wind up Firm
-----------------------------------------------
At an Extraordinary General Meeting of the Members of Celsius
Heating Services Limited, duly convened, and held at Crawfords,
Stanton House, 41 Blackfriars Road, Salford, Manchester M3 7DB,
on 20 July 2005, the following Extraordinary Resolution was duly
passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
David Norman Kaye, of Crawfords, Stanton House, 41 Blackfriars
Road, Salford, Manchester M3 7DB, be and he is hereby nominated
Liquidator for the purposes of the winding-up."

Director

CONTACT:  CRAWFORDS
          Stanton House
          41 Blackfriars Road
          Salford
          Manchester
          Greater Manchester M3 7DB
          Phone: 0161 828 1000
          Fax: 0161 832 1829
          E-mail: akachani@aol.com


CHALTON ENGINEERING: Calls in Liquidator
----------------------------------------
At an Extraordinary General Meeting of Chalton Engineering
Limited, duly convened, and held at 60-62 High Street, Harpenden,
Hertfordshire AL5 2SP, on 20 July 2005, the following
Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Anthony David Kent, of Maidment Judd, 60-62 High Street,
Harpenden, Hertfordshire AL5 2SP, be and he is hereby appointed
Liquidator for the purposes of such winding-up."

K U Marshall, Chairman

CONTACT:  MAIDMENT JUDD
          60/62 High Street
          Harpenden
          Hertfordshire AL5 2SP
          Phone: 01582 469700
          Fax: 01582 460674
          E-mail: akent@maidmentjudd.co.uk


CHILDRENS CHAINSTORE: Applies for Liquidation
---------------------------------------------
At an Extraordinary General Meeting of Childrens Chainstore
Garments Limited, duly convened, and held at Atherton Business
Centre, E Mill, Flapper Fold Lane, Atherton, Greater Manchester
M46 0HB, on 18 July 2005, at 10:00 a.m., the following
Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Jonathan M Timmis, of J M Marriott & Co, Grosvenor House,
Agecroft Enterprise Park, Agecroft Road, Manchester M27 8UW, be
and he is hereby appointed Liquidator for the purposes of the
winding-up."

G L E Yates, Chairman

CONTACT:  J M MARRIOTT & CO
          Storey House
          White Cross
          South Road
          Lancaster
          Lancashire
          LA1 4XF
          E-mail: jmt@jmmarriott.co.uk
          Phone: 01524 845611
          Fax: 01524 845612


CHISOFT LIMITED: EGM Passes Winding-up Resolutions
--------------------------------------------------
At an Extraordinary General Meeting of Chisoft Limited, duly
convened, and held at the MWB Business Exchange, 77 Oxford
Street, London W1D 2ES, on 21 July 2005, at 11:00 a.m., the
following Resolutions were duly passed, as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and that
accordingly the Company be wound up voluntarily and that A Graham
of Hamilton Insolvency Practitioners Limited, Omega Court, 368
Cemetery Road, Sheffield S11 8FT, be and is hereby appointed
Liquidator of the Company for the purpose of the voluntary
winding-up."

C Y Choy, Chairman

CONTACT:  F A SIMMS & PARTNERS PLC
          Insol House
          39 Station Road
          Lutterworth
          Leicestershire LE17 4AP
          Phone: 01455 557111
          Fax: 01455 552572
          E-mail: rsimms@fasimms.com


COLT TELECOM: Buys back GBP11 Million of 2007 Bonds
---------------------------------------------------
COLT Telecom Group plc has purchased GBP11.0 million (EUR16.0
million) nominal amount of the EUR402.5 million 2% Senior
Convertible Notes due April 2007 for a cash outlay, including
accrued interest, of GBP13.6 million since their last
notification regarding this class.

The purchases were undertaken by COLT Telecom Group plc.  COLT
has no intention to sell the notes it has purchased and
arrangements may be made in due course to cancel such notes.
About EUR274.9 million nominal amount of the EUR402.5 million 2%
Senior Convertible Notes due April 2007 remain outstanding.

                            *   *   *

In July, the company said it continued to make progress in the
implementation of its strategic plan, even though market
conditions remained challenging.  Its financial position
continues to be strong with cash and cash equivalents of GBP335.9
million at the end of the quarter.

CONTACT:  COLT TELECOM GROUP PLC
          Web site: http://www.colt.net

          John Doherty
          Director Corporate Communications
          E-mail: jdoherty@colt.net
          Phone: +44 (0) 20 7390 3681

          Gill Maclean
          Head of Corporate Communications
          E-mail: gill.maclean@colt.net
          Phone: +44 (0) 20 7863 5314

          Henny Valder
          COLT
          Phone: + 44 (0) 20 7947 1610
          E-mail: henny.valder@colt.net


CORNISH CANDY: Hires Liquidator from Purnells
---------------------------------------------
At an Extraordinary General Meeting of the Members of Cornish
Candy Shoppe (Manufacturing) Limited, duly convened, and held at
Poldhu Cove, Mullion, near Helston, Cornwall, TR12 7JB, on 22
July 2005, the following Extraordinary Resolution was duly
passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Ray Purnell, of Purnells, Trewoon, Poldhu Cove, Mullion, near
Helston, Cornwall TR12 7JB, be and he is hereby nominated
Liquidator for the purpose of the winding-up."

A Wingate, Director

CONTACT:  PURNELLS
          St Marks House
          3 Gold Tops
          Newport
          Gwent
          NP 20 4PG
          Contact:
          Raymond Henry Purnell
          E-mail: ray@purnells.co.uk
          Phone: 01633 214712
          Fax: 01633 246599


COUNTRY SKIP: Names Begbies Traynor Administrator
-------------------------------------------------
Name of company: COUNTRY SKIP HIRE LIMITED
                 (Company No 3257642)

Nature of Business: Skip Hire

Address of Registered Office: Chiltern House, 24-30 King Street,
Watford WD18 0BP

Date of Appointment: July 20, 2005

Administrators' Names and Address: Paul Michael Davis and Timothy
John Edward Dolder (IP Nos 7805 and 9008), both of Begbies
Traynor (South) LLP, 32 Cornhill, London EC3V 3BT

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


CROWN ENTERPRISES: Members Resolve to Liquidate Business
--------------------------------------------------------
At an Extraordinary General Meeting of the Members of Crown
Enterprises (Yorkshire) Limited, duly convened, and held at Lewis
Alexander & Collins, 103 Portland Street, Manchester M1 6DF, on
21 July 2005, the following Extraordinary Resolution was duly
passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Michael David Alexander, of Lewis Alexander & Collins, 103
Portland Street, Manchester M1 6DF, be and he is hereby nominated
Liquidator for the purpose of the winding-up."

C Barrett, Chairman

CONTACT:  LEWIS ALEXANDER & COLLINS
          103 Portland Street
          Manchester
          Greater Manchester
          M1 6DF
          Phone: 0161 236 5175
          Fax: 0161 228 6297


C.T. LOGISTICS: Shareholders Pass Winding-up Resolutions
--------------------------------------------------------
At an Extraordinary General Meeting of C.T. Logistics Limited,
duly convened, and held at The Holiday Inn, Carlisle CA3 0HR, on
Tuesday 12 July 2005, the following Resolutions were duly passed,
as an Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Thomas Steele Bryson, of Bryson & Company, 4 Wellington Square,
Ayr KA7 1EN, be and is hereby appointed Liquidator for the
purposes of such winding-up."

E Hunt, Chairman

CONTACT:  BRYSON & COMPANY
          4 Wellington Square
          AYR
          Ayrshire
          KA7 1EN
          E-mail: 106140.3571@compuserve.com
          Phone: 01292 262601
          Fax: 01292 288993


DISCOUNT INTRANET: Creditors Meeting Set Next Week
--------------------------------------------------
The creditors of Discount Intranet Supply Channel Limited will
meet on Aug. 9, 2005 at 11:00 a.m.  It will be held at One Great
Cumberland Place, Marble Arch, London W1H 7LW.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to N. A. Bennett and S. D. Swaden of Leonard Curtis,
One Great Cumberland Place, Marble Arch, London W1H 7LW not later
than 12:00 noon, Aug. 8, 2005.

                            *   *   *

CEO Axel F.E. van Drongelen founded Discount-Intranet Supply
Channel in 2002.  Visit http://www.d-isc.com/for more
information.

CONTACT:  LEONARD CURTIS & CO
          One Great Cumberland Place,
          Marble Arch, London W1H 7LW
          Phone: 020 7535 7000
          Fax:   020 7723 6059
          E-mail: solutions@leonardcurtis.co.uk
          Web site: http://www.leonardcurtis.co.uk


D & N RICH: Calls in Administrators from Kay Johnson Gee
--------------------------------------------------------
Name of company: D & N RICH LIMITED
                 (Company No 02806158)

Nature of Business: Fancy Goods Retailer

Address of Registered Office: Griffin Court, 201 Chapel Street,
Salford, Manchester M3 5EQ

Trade Classification: 22

Date of Appointment: July 22, 2005

Administrator's Name and Address: Jonathan Elman Avery-Gee (IP No
001549), Kay Johnson Gee, Griffin Court, 201 Chapel Street,
Salford, Manchester M3 5EQ

CONTACT:  D. &  N. RICH LIMITED
          69 The Parade, Swinton,
          Manchester M27 4BD
          Lancashire

          KAY JOHNSON GEE
          Griffin Court
          201 Chapel Street
          Salford, Manchester
          Greater Manchester M3 5EQ
          Phone: 0161 832 6221
          Fax: 0161 834 8479
          E-mail: traceyshanley@kayjohnsongee.com


DRAX GROUP: Awaits TXU's Second Principal Claims Payment
--------------------------------------------------------
Against its agreed principal claims totaling approximately GBP348
million, Drax Power Limited has on Aug. 2 been informed by the
Supervisors of TXU Europe Energy Trading Limited (TXU EET) and
TXU Europe Group plc (TXUEG) that it will receive as a second
distribution on account a sum of GBP50.7 million pursuant to the
Company Voluntary Arrangements (CVAs) for these TXU companies.
The Supervisors of TXU EET and TXUEG have stated that it is
intended that this payment will be made to Drax Aug. 2.

Drax continues to expect repayment of its principal claims of
approximately GBP348 million broadly in full by around April
2006, although the exact timing and amount of further
distributions from the CVAs remains to be determined by the TXU
Supervisors.

Drax is required to make a deduction from the distribution on
account of VAT and following this deduction (and the release of
certain monies which were withheld from the first distribution
from TXU EET and TXUEG on account of VAT, which were in excess of
the amount actually agreed as being payable to HM Revenue &
Customs) the sum of GBP51.1 million will be made available for
distribution of principal to Drax's B Lenders and to B
Noteholders.  This will be done in the case of B Lenders by
paying the funds to Deutsche Bank AG London as Agent, who will
distribute the funds to B Lenders.  In the case of B Noteholders,
payments will be made through the clearing systems.

Drax will transfer the funds it receives to Deutsche Bank AG
London as Agent shortly following the payment being received by
Drax, and Deutsche Bank AG London upon actual receipt of such
funds will promptly distribute these to B Lenders.  In the case
of B Noteholders, as a consequence of the information received
from the TXU EET and TXUEG Supervisors, NoteCo Limited intends to
issue a notice of partial redemption of the principal amount of
the B Notes and set the Record Date for such redemption as
Tuesday's date.

Pursuant to the terms and conditions of the B Notes, payment of
the redemption proceeds is required to take place 15 calendar
days following the Record Date.  Accordingly, payments are
expected to be made to B Noteholders via the clearing systems on
or about 17 August 2005.  If you have any queries concerning the
mechanics of making payment, B Lenders should contact Elizabeth
Macadie (+44 (0)20 7547 5905) or Christopher Benham (+44 (0)20
7547 5855) at Deutsche Bank and B Noteholders should contact
Corporate Trust Division at The Bank of New York (+44 (0)20 7570
1784).

                            *   *   *

Drax has principal claims against TXU EET (in administration and
subject to a CVA) of approximately GBP348 million, which were
partly guaranteed by TXUEG (in administration and subject to a
CVA).  On 28 January 2005, CVAs were approved for a number of TXU
companies, including TXU EET and TXUEG.

It is envisaged that Drax will receive distributions from the
CVAs for TXU EET and TXUEG totaling an estimated GBP348 million.
This is on the basis that the Administrators have estimated in
the Explanatory Statement to the CVA Proposals that, on a
"realistic" basis, Drax could eventually receive payment of its
principal claims broadly in full.

Drax is required to make deductions on account of VAT from the
distributions received from TXU, with the B creditors having
given their consent to these arrangements on 30 December 2004.
The total VAT payable is estimated not to exceed approximately
GBP12 million on the basis that the total amount recovered is
approximately GBP348 million.  On 30 March 2005, Drax received
from TXU EET and TXUEG the sum of GBP214.2 million and a
principal prepayment amounting to GBP204.7 million was made
available for distribution of principal to B Lenders and to B
Noteholders.

In respect of the first distribution of GBP214.2 million, the sum
of GBP7 million was retained on account of the potential VAT
liability.  Following discussions with HM Revenue & Customs, the
amount of GBP5.1 million was paid to them.  The balance, plus the
accrued interest thereon, less the GBP1.5 million being retained
on account of the potential VAT liability on this second
distribution accounts for the difference between the GBP51.1
million being made available for distribution and the amount of
GBP50.7 million received from TXU EET and TXUEG.

                            *   *   *

Headquartered in Selby, North Yorkshire, United Kingdom, Drax
Group operates the largest coal-fired power plant in Europe.
Its primary subsidiary, Drax Power, operates the Drax Power
Station in North Yorkshire England.

Drax Group underwent a financial restructuring in 2003 after its
largest customer, TXU Europe, filed for administrative protection
(its former project creditors took control of the firm from owner
U.S. energy generator AES).  In December, it secured an agreement
for a GBP348 million claim from TXU.  It received a first
distribution of some GBP214 million at the end of March.
Succeeding payments are expected in 2005 and 2006. The company is
using its cash to discharge B debt.

Drax Group Limited has appointed Deutsche Bank AG London as lead
adviser and sponsor for the proposed refinancing and listing of
Drax.  It has retained Dresdner Kleinwort Wasserstein Limited as
financial adviser.

CONTACT:  DRAX POWER LIMITED
          Melanie Wedgbury
          Phone: 01757 618381
          David Trenchard/Peter Hewer

          TULCHAN COMMUNICATIONS
          Phone: 020 7353 4200


DUNLOPBRIDGE PROPERTY: Hires Liquidators from PwC
-------------------------------------------------
At the extraordinary general meeting of Dunlopbridge Property
Limited, held on 21 July 2005, the following Resolutions were
passed, as a Special Resolution and as an Ordinary Resolution
respectively:

"That the Company be wound up voluntarily, and that Tim Walsh and
Jonathan Sisson, of PricewaterhouseCoopers LLP, Benson House, 33
Wellington Street, Leeds LS1 4JP, be and are hereby appointed
Joint Liquidators of the Company for the purposes of such
winding-up, and any act required or authorised under any
enactment to be done by the Joint Liquidators is to be done by
all or any one or more of the persons for the time being holding
office."

R J Smith, Chairman

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Benson House
          33 Wellington Street
          Leeds LS1 4JP
          Phone: [44] (113) 289 4000
          Fax: [44] (113) 289 4460
          E-mails: edward.klempka@uk.pwcglobal.com
                   steve.a.ellis@uk.pwcglobal.com
          Web site: http://www.pwcglobal.com


FORD GREEN: Hires Receiver from Walletts Insolvency Services
------------------------------------------------------------
Name of company: FORD GREEN ENGINEERING LIMITED
                 (Company No 01535620)

Nature of Business: Steel Fabricators and General Engineers

Address of Registered Office: Clarence Road, Longton,
Stoke-on-Trent, Staffordshire ST3 1AZ

Trade Classification: 11

Date of Appointment: July 11, 2005

Administrator's Name and Address: Michael F. McCarthy (IP No
8942), Walletts Insolvency Services, Adventure Place, Hanley,
Stoke-on-Trent, Staffordshire ST1 3AF

CONTACT:  FORD GREEN ENGINEERING LTD
          Clarence Road, Longton
          Stoke on Trent ST3 1AZ
          Staffordshire
          Phone: 01782 342530
          Fax: 01782 599692

          WALLETTS INSOLVENCY SERVICES
          Adventure Place
          Hanley
          Stoke On Trent
          Staffordshire ST1 3AF
          Phone: 01782 212326
          Fax: 01782 683904
          E-mail: mike@walletts.co.uk


HILBRON LIMITED: Appoints Liquidator
------------------------------------
At an Extraordinary General Meeting of Hilbron Limited (trading
as Fox Motorsport), duly convened, and held at Insol House, 39
Station Road, Lutterworth, Leicestershire LE17 4AP, on 21 July
2005, the subjoined Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Richard Frank Simms, of Insol House, 39 Station Road,
Lutterworth, Leicestershire LE17 4AP, be hereby appointed
Liquidator for the purposes of such winding-up."

C J O Fox, Chairman

CONTACT:  F A SIMMS & PARTNERS PLC
          Insol House
          39 Station Road
          Lutterworth
          Leicestershire LE17 4AP
          Phone: 01455 557111
          Fax: 01455 552572
          E-mail: rsimms@fasimms.com


HINCKLEY GLASS: Files for Liquidation
-------------------------------------
At an Extraordinary General Meeting of Hinckley Glass Merchants
Limited, duly convened, and held at the offices of Elwell
Watchorn & Saxton LLP, 109 Swan Street, Sileby, Leicestershire
LE12 7NN, on 21 July 2005, the subjoined Extraordinary Resolution
was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Paul Anthony Saxton, of Elwell Watchorn & Saxton LLP, 109 Swan
Street, Sileby, Leicestershire LE12 7NN, be and is hereby
appointed Liquidator for the purposes of such winding-up."

G P Sutton, Director

CONTACT:  ELWELL WATCHORN & SAXTON
          109 Swan Street,
          Sileby, Leicestershire, LE12 7NN
          Phone: (+44) 01509 815150
          Fax: (+44) 01509 815121
          E-mail: office@ews-insolvency.co.uk
          Web site: http://www.ews-insolvency.co.uk


HINCKLEY HORTICULTURAL: High Court Approves Liquidation
-------------------------------------------------------
Name: Hinckley Horticultural Ltd.

Registration Number: 03989722

Registered Office: New Road Nursery, Great Barford, Bedford,
Bedfordshire, MK44 3LH

Court: High Court of Justice

Date of Filing Petition: April 5, 2005

No. of Matter: 002254 of 2005

Date of Winding-up Order: July 13, 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


HOWARD MARTIN: Voluntarily Files for Winding-up
-----------------------------------------------
At an Extraordinary Meeting of the Members of Howard Martin
Associates Limited, duly convened, and held at the offices of
David Rubin & Partners, Pearl Assurance House, 319 Ballards Lane,
London N12 8LY, on 18 July 2005, the following Extraordinary
Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily and that
David Rubin, of David Rubin & Partners, Pearl Assurance House,
319 Ballards Lane, London N12 8LY, be and he is hereby nominated
Liquidator for the purposes of such winding-up."

G Martin, Chairman

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


INTERFORCE C.C.: Members Opt for Liquidation
--------------------------------------------
Notice is hereby given that an extraordinary general meeting of
Interforce C.C. Limited, was held at 30 Shrub End Road,
Colchester, Essex CO2 7XF, on 15 July 2005, at 12:00 noon, for
the purpose of considering the following agenda:

"That the Company be wound up voluntarily, and that Ray Purnell,
of Purnells, Trewoon, Poldhu Cove, Mullion, near Helston,
Cornwall TR12 7JB, be and is hereby appointed Liquidator for the
purposes of such a winding-up, that the Liquidator hereby be
authorised to distribute amongst the Members, in specie or in
kind, the whole or any part of the assets of the Company, that
the Liquidator be authorised under the provisions of section
165(2)(A) to exercise the powers laid down in Schedule 4 Part 1
of the Insolvency Act 1986, that the fees of the Liquidator's
firm be the set figure of 3,500 plus VAT, and that the
Liquidator's disbursements and expenses be proper charges against
the liquidation."  By Order of the Board.

J Boyle, Chairman

CONTACT:  PURNELLS
          Trewoon, Poldhu Cove,
          Mullion, near Helston,
          Cornwall TR12 7JB


J FISHWICK & SONS: Calls in Administrators
------------------------------------------
Name of company: J FISHWICK & SONS LIMITED
                 (Company No 02157031)

Nature of Business: Fruit and Vegetable Wholesalers

Trade Classification: 51310

Date of Appointment: July 19, 2005

Administrators' Names and Address: Gordon S. Goldie and Allan
David Kelly (IP Nos 5799 and 9156), both of Tait Walker, Bulman
House, Regent Centre, Gosforth, Newcastle upon Tyne NE3 3LS

CONTACT:  TAIT WALKER
          Bulman House,
          Regent Centre, Gosforth,
          Newcastle upon Tyne NE3 3LS
          Phone: 0191 285 0321
          Fax:   0191 284 9117
          E-mail: advice@taitwalker.co.uk
          Web site: http://www.taitwalker.co.uk


KINGSTON AUTOS: Official Receiver to Handle Liquidation
-------------------------------------------------------
Name: Kingston Autos Limited

Registration Number: 03087307

Registered Office: Unit 9/10, Hampden Road, Kingston-upon-Thames,
Surrey, KT1 3LN

Court: Bristol District Registry

Date of Filing Petition: May 11, 2005

No. of Matter: 2126 of 2005

Date of Winding-up Order: July 13, 2005

Official Receiver's Address: 6th Floor, Sunley House, Bedford
Park, Croydon, CR9 1TX


KWELM: Court Approves Insurance Settlement with Federal-Mogul
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware approved
the settlement agreement inked between

    a. Federal-Mogul Products, Inc., and DII Industries,
       LLC; and

    b. KWELM Management Services Limited, as the appointed run-
       off agent for:

       * Kingscroft Insurance Company Limited;

       * Walbrook Insurance Company Limited;

       * El Paso Insurance Company Limited;

       * Lime Street Insurance Company Limited and Mutual
         Reinsurance Company Limited and The Bermuda Fire &
         Marine Insurance Company Limited (In Liquidation); and

       * Southern American Insurance Company in liquidation,
         solely in respect of its participation in the pool
         operated by H S Weavers (Underwriting) Agencies Ltd.

The Settlement Agreement was inked on September 27, 2004,and was
the product of various policies of insurance that the Settling
Insurers issued or subscribed to provide coverage for, among
other things, asbestos-related bodily injury claims against:

    (1) Federal-Mogul Products, as successor-in-interest to
        Wagner Electric Company; and

    (2) DII Industries, as successor-in-interest to Turbodyne
        Corporation and Worthington Corporation.

                            *   *   *

Each of the Settling Insurers is insolvent and operating in
run-off mode.  These Insurers have ceased to underwrite new
liabilities, and are in the process of liquidating and paying, to
the extent possible, their outstanding liabilities in connection
with Schemes of Arrangement with their creditors being
implemented under English law, with the exception of South
American Insurance Company.  South American Insurance Company is
being liquidated under the supervision of the Third Judicial
District Court in the State of Utah.

The FM Products and DII Industries have submitted claims against
the Settling Insurers in the Settling Insurers' liquidation
proceedings, which are ongoing in England or, in the case of
South American Insurance Company, in Utah state court.

The material terms of the Settlement Agreement are:

    (a) FM Products and DII Industries will have a joint allowed
        claim against the Settling Insurers for $7,000,000 to be
        apportioned among the Settling Insurers;

    (b) After the passage of the Bar Date in the Settling
        Insurers' Schemes of Arrangement, and assuming that no
        competing claims are asserted under the Subject
        Insurance Policies, the Settling Insurers agree to make
        payment as provided by the Settling Insurers' Schemes of
        Arrangement to an escrow account under the joint control
        of FM Products and DII Industries.  In the case of South
        American Insurance Company, it must seek approval from
        the Utah state court to make the payment after the
        passage of the Bar Date.  The Settling Insurers have
        agreed that FM Products and DII Industries will submit
        adequate supporting documentation in the Settling
        Insurers' Schemes of Arrangement relating to their
        claims against the Settling Insurers; and

    (c) In the event a competing claim were brought against the
        Settling Insurers prior to payment of the $7 million
        settlement amount, the Settling Insurers would evaluate
        the claim.  If the claim appeared to be valid under the
        Subject Insurance Policies, the Settling Insurers would
        attempt to negotiate an appropriate revised value for
        the settlement with FM Products and DII Industries.  If
        the negotiations were unable to arrive at an agreed
        amount among the parties, then the matter would be
        referred to the Scheme Adjudicator for the Settling
        Insurers' Schemes of Arrangement and to the South
        American Insurance Company for adjudication.

The Bar Date in the Settling Insurers' Schemes of Arrangement had
passed on September 29, 2004.

The Debtors have verified that no competing claims have been
brought in the Schemes of Arrangement that would dilute the
recovery available to FM Products.  Accordingly, the Debtors
believe that the $7 million joint allowed claim of FM Products
and DII Industries against the Settling Insurers is the basis on
which distributions to FM Products will be determined.
(Federal-Mogul Bankruptcy News, Issue No. 87; Bankruptcy
Creditors' Service, Inc., 215/945-7000)


LEOPARD TECHNICAL: Files for Receivership
-----------------------------------------
Name: Leopard Technical Services Limited

Registration Number: 4349432

Registered Office: The Apple Barn, Langley Park, Sutton Road,
Maidstone, Kent, ME17 3NQ

Court: High Court of Justice

Date of Filing Petition: May 26, 2005

No. of Matter: 003462 of 2005

Date of Winding-up Order: July 13, 2005

Official Receiver's Address: 2nd Floor, Abbeygate House, 164-167
East Road, Cambridge, CB1 1DB


MILLENNIUM FRINGE: Receiver Takes over Operations
-------------------------------------------------
Name: Millennium Fringe Ltd.

Registration Number: 03595725

Registered Office: Unit 302 Lana House, 118 Commercial Street,
London, E1 6NF

Court: High Court of Justice

Date of Filing Petition: May 17, 2005

No. of Matter: 003210 of 2005

Date of Winding-up Order: July 13, 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


MOBILELINK UK: Joins Several Mobile Phone Firms in Liquidation
--------------------------------------------------------------
Mobilelink UK Ltd has been issued with a winding up order, said
ICC Credit Monday.

The Middlesex-based firm was founded in September 1999.  Its 2002
accounts showed a turnover of more than GBP56 million, with
profits of GBP169,000.

Mobilelink is said to be not alone in its crisis as 18% of
companies within the wholesale and retail of mobile phones sector
are also in liquidation.

Matthew Debbage, Head of Product and Marketing, ICC Credit, said:
"With 18% of companies already in liquidation and a further 10%
of companies with County Court Judgments filed against them,
caution should be heeded when extending credit within this
sector."

CONTACT:  MOBILELINK UK LTD
          87 Whitton Road, Hounslow
          Middlesex TW3 2EH
          Phone: 02087553377


MOULINS CONSTRUCTION: Names Moore Stephens Liquidator
-----------------------------------------------------
At an Extraordinary General Meeting of Moulins Construction
Limited, duly convened, and held at the offices of Moore
Stephens, Corporate Recovery, Victory House, Admiralty Place,
Chatham Maritime, Kent ME4 4QU, on Wednesday 20 July 2005, the
subjoined Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting,
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
David Ronald Elliott, of Moore Stephens, Corporate Recovery,
Victory House, Admiralty Place, Chatham Maritime, Kent ME4 4QU,
be and is hereby appointed Liquidator for the purposes of such
winding-up."

K Foreman, Chairman

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


MYTRAVEL GROUP: Books Extraordinary Cost Due to Egypt Bombings
--------------------------------------------------------------
MyTravel Group plc's statement after the Sharm El-Sheikh
bombings:

"[We] had 1,117 customers in the Sharm El-Sheikh area at the time
of the bombings on 23 July 2005.  We have accounted for all but
seven of our customers.  The Ghazala Gardens Hotel, which was
damaged by one of the bombs, was occupied by 220 of our
customers.  Our immediate priority with these customers has been
their safety and welfare, and we quickly enabled those who wished
to return home to do so.

"The company is appalled by these latest terrorist attacks and we
extend our sincere condolences to the bereaved families of the
British, Egyptian and foreign victims.

"We are liaising closely with the Foreign Office and continuing
to operate our normal schedules to Egypt.  We take approximately
1,500 people per week to Egypt at this time of year, which is the
peak holiday season.  Of these customers, 50% go to Sharm
El-Sheikh.  Customers with future bookings at the Ghazala Gardens
are being offered alternative accommodation, alternative holidays
or refunds as appropriate.

"In addition to the bombings in Egypt, the company's operations
have been impacted by the recent hurricanes affecting Cuba,
Jamaica and Mexico.  There has not been any effect on bookings to
these destinations.

"The disruption caused by the bombings and hurricanes has cost
GBP2 million to date in repatriation flights and cancellations.
It is too soon to know how the pattern of bookings to Egypt will
be affected and therefore what the full financial impact on the
company will be, but early indications are that it will not be
materially more than the cost to date included in the GBP2
million.

"Notwithstanding these events, trading for the 2005 summer season
continues to be encouraging in all divisions, and we continue to
make progress against our business plan."

CONTACT:  BRUNSWICK GROUP LLP
          Fiona Antcliffe
          William Cullum
          Conor McClafferty
          Phone: 020 7404 5959


OPAL PROFESSIONAL: Court Orders Winding-up
------------------------------------------
Name: Opal Professional Services Limited

Registration Number: 04132331

Registered Office: 32 Loring Road, Whetstone, London, N20 0UH

Court: Bristol District Registry

Date of Filing Petition: April 11, 2005

No. of Matter: 1741 of 2005

Date of Winding-up Order: July 6, 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


ORIEL SUPPORT: Files for Administration
---------------------------------------
Name of company: ORIEL SUPPORT SERVICES LIMITED
                 Sherlock House
                 73 Baker Street
                 London W1U 6RD

Company No.: 04786119

Nature of Business: Other Business Activities

Trade Classification: 7487

Date of Appointment: July 12, 2005

Administrators' Names and Address: T. J. Binyon and S. J. Parker
(IP Nos 9285 and 8989), both of Tenon Recovery, Sherlock House,
73 Baker Street, London W1U 6RD

                            *   *   *

Oriel Support brings financial benefits to the recruitment and
other timesheet based industries through the provision of
invoice-based finance, payroll, credit control, credit
protection, accounting and administration services.  Visit
http://www.orielsupport.com/for more information.

CONTACT:  ORIEL BUSINESS SERVICES LIMITED
          Cheltenham House
          Clarence Street
          Cheltenham GL50 3JR
          Phone: 01242 260565
          Fax: 01242 260787
          E-mail: info@OrielBusinessServices.com

          TENON RECOVERY
          Sherlock House
          73 Baker Street
          London W1U 6RD
          Phone: 020 7935 5566
          Fax: 020 7935 3512
          E-mail: bakerstreet@tenongroup.com
          Web site: http://www.tenongroup.com


PENNINE POINTING: In Liquidation
--------------------------------
At an Extraordinary General Meeting of Pennine Pointing
Contractors Limited, duly convened, and held at Tomlinsons, St
John's Court, 72 Gartside Street, Manchester M3 3EL, on 13 July
2005, the following Resolutions were duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable that the same be wound up
voluntarily, and that the Company be wound up accordingly, and
that Alan H Tomlinson, of Tomlinsons, St John's Court, 72
Gartside Street, Manchester M3 3EL, is hereby appointed as
Liquidator for the purposes of such winding-up."

At the subsequent Meeting of Creditors held on the same date, the
Resolution was ratified together with the appointment of Alan H
Tomlinson, of Tomlinsons, St John's Court, 72 Gartside Street,
Manchester M3 3EL, as Liquidator of the Company.

T P Shannon, Chairman

CONTACT:  TOMLINSONS
          St John's Court,
          72 Gartside Street, Manchester M3 3EL
          Phone: 0870 60 70 170
          Fax:   0870 60 70 180
          E-mail: advice@tomlinsons.co.uk
          Web site: http://www.tomlinsons.co.uk


PLANESTATION GROUP: Axes 127 Workers; Cancels All Flights
---------------------------------------------------------
The administrators of Planestation Group plc have reportedly
declared 127 employees redundant, and canceled all flights at the
Kent International airport.

This came as the firm could no longer cover necessary insurance
following its collapse, said The Telegraph.  Its bank (Bank of
Scotland) earlier refused to provide additional funding to its
low cost regional airline EUjet, which suffered a decline in
passenger numbers.

However, some 65 workers have been retained to ensure the revival
of the airport's operations.

Andrew Conquest, from administrator Grant Thornton, said: "In
order to attempt to secure the long-term survival of the airport
we have to cut costs in the short term, while maintaining the
operating infrastructure of the airport for any potential
purchaser."

He added that Grant Thornton has already talked with several
interested parties.

Last week, Planestation said: "Discussions with the company's
bank have not been positive and the company has been informed
that the bank is no longer able to support the company with
additional facilities."

It added that EUjet's greater cash requirements are to be met by
the sale of its 75 percent stake in Kent International Business
Park, stressing that it needed "an extension of facilities while
the disposal was completed."

EUjet has closed operation, leaving some 5,400 passengers
stranded, and with more than 90,000 flights booked for the coming
weeks.  The company intends to refund passengers
via their credit cards as its cash was still in an escrow
account and had not been drawn down, according to the Financial
Times.

Planestation has raised GBP82 million in three equity fund
raising for the past 18 months.  Its finance director and a board
member stepped down in March.

CONTACT:  PLANESTATION GROUP PLC
          5 Berkeley Sq., Mayfair
          London
          W1J 5AB, United Kingdom
          Phone: +44-20-7495-8686
          Fax: +44-20-7493-0189
          Web site: http://www.planestation.com
          Contact:
          Richard Keith Bingham, CEO
          Martin May, COO


POUNDCO LIMITED: Appoints Administrators from Kay Johnson Gee
-------------------------------------------------------------
Name of company: POUNDCO LIMITED
                 (Company No 04037727)

Nature of Business: Retailer of Household and Fancy Goods

Address of Registered Office: Griffin Court, 201 Chapel Street,
Salford, Manchester M3 5EQ

Trade Classification: 22

Date of Appointment: July 22, 2005

Administrator's Name and Address: Jonathan Elman Avery-Gee (IP No
001549), Kay Johnson Gee, Griffin Court, 201 Chapel Street,
Salford, Manchester M3 5EQ

CONTACT:  POUNDCO LIMITED
          Spinningate Leigh Shopping Center,
          East Manchester, Lancashire WN7 4PG
          Phone: 01942604543

          KAY JOHNSON GEE
          Griffin Court
          201 Chapel Street
          Salford, Manchester
          Greater Manchester M3 5EQ
          Phone: 0161 832 6221
          Fax: 0161 834 8479
          E-mail: traceyshanley@kayjohnsongee.com


PRESCO U.K.: Goes into Liquidation
----------------------------------
Name: Presco U.K. Limited

Registration Number: 04683885

Registered Office: Unit 4, Martin Road, Tremorfa Industrial
Estate, Cardiff, CF24 5SD

Court: Leeds District Registry

Date of Filing Petition: May 24, 2005

No. of Matter: 559 of 2005

Date of Winding-up Order: July 12, 2005

Official Receiver's Address: 3rd Floor, Companies House, Crown
Way, Cardiff, CF14 3ZA


P.S.I. (SOUTHERN): Appoints Liquidator
--------------------------------------
At an Extraordinary General Meeting of the Members of P.S.I.
(Southern) Limited, duly convened, and held at 1640 Parkway,
Solent Business Park, Whiteley, Fareham, Hampshire, on 21 July
2005, the following Resolutions were duly passed, as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
James Richard Tickell and Carl Derek Faulds, of Portland Business
& Financial Solutions Ltd., 1640 Parkway, Solent Business Park,
Whiteley, Fareham, Hampshire, be and they are hereby appointed
Joint Liquidators of the Company and that any act required or
authorized to be done by the Liquidators, is to be done by both
or either of them for the time being holding office."

B G W Beaney, Director

CONTACT:  PORTLAND BUSINESS & FINANCIAL SOLUTIONS LTD.
          1640 Parkway
          Solent Business Park
          Whiteley
          Fareham
          Hampshire PO15 7AH
          Phone: 01489 550 440
          E-mails: carl.faulds@portland-solutions.co.uk
                   james.tickell@portland-solutions.co.uk


RAMCO ENERGY: Members Awarded Share Options
-------------------------------------------
Ramco Energy plc has granted share options to members of the
Board, under the Company's Employee Share Option Scheme.

Chairman Steve Remp received 300,000 options.  Following the
award of these options, Mr. Remp has a total holding of 432,500
options.

Managing Director Steven Bertram received 150,000 options,
bringing his total holding to 250,000 options.

Mr. N. Stewart Cumming, Managing Director of Ramco Oil Services
Limited, received 70,000 options.  He has now a total holding of
170,000 options.

Non-executive Directors Malcolm Hay and Dennis Paterson have each
been granted 70,000 options.  These options represent the total
number of options held by each Non-executive Director.

All of the options for Ordinary 10 pence shares were granted, for
no consideration, at an exercise price of 34 pence.  The options
become exercisable on 30 July 2008, provided that certain targets
are achieved.

                            *   *   *

In July, The Herald reported that Ramco Energy looked to have
survived a trying period after banks wrote off GBP53 million of
its debt, and its pre-tax losses for last year narrowed.

Ramco incurred a total of GBP68.6 million to fund its Seven
Heads offshore oil production in Ireland, whose production fell
dramatically in the past months.  Ramco negotiated the
rescheduling of its debt with lenders after encountering problems
with its Seven Heads' operations.  Its bankers and a major
creditor previously agreed to extend waiver agreements for
GBP12.0 million and GBP1.55 million in debt until it sells the
86.5% interest it holds in the troublesome operation, and other
assets.

In a reversal of fortune, Ramco reported that turnover of
GBP36.9 million in 2004, up from GBP20.8 million helped by
upbeat sales in Seven Heads.  Pre-tax losses were down to GBP3.2
million in 2004 from GBP104 million in 2003.  Last year's result
was affected by impairment provision against the carrying value
of the Seven Head gas interest.

CONTACT:  RAMCO ENERGY PLC
          62 Queen's Rd.
          Aberdeen
          AB15 4YE, United Kingdom
          Phone: +44-1224-352-200
          Fax: +44-1224-352-211
          Web site: http://www.ramco-plc.com

          Steven Bertram, Group Financial Director
          Phone: 01224 352200

          Fleishman-Hillard Saunders - Dublin
          Michael Parker
          Phone: 00353 1 618 8450


RDVA LIMITED: Tomlinson Takes over Operations
---------------------------------------------
Special Written Resolutions:

"That the Company be wound up and that Alan Howard Tomlinson, of
Tomlinsons, St Johns Court, 72 Gartside Street, Manchester M3
3EL, be and is hereby appointed Liquidator for the purpose of
such winding-up, that the Liquidator be and hereby is authorized
to distribute all or part of the assets of RDVA Limited in specie
to the Shareholders in such proportion as they mutually agree and
that the Liquidator be authorized under the provisions of section
165(2) to exercise the powers laid down in Schedule 4, Part I of
the Insolvency Act 1986, and that the Liquidator be and hereby is
authorised pursuant to section 110 of the Insolvency Act 1986, to
enter into and carry out agreements according to the instructions
of the Company's Shareholders."

Signed by all the Members of the Company, at the date of these
Written Special Resolutions (being the date when these Written
Special Resolutions are signed by the last Member to sign) who
would be entitled to attend and vote at a General Meeting of the
Company had these Written Special Resolutions been put to such a
Meeting due regard being taken of section 320 of the Companies
Act 1985 (transactions involving Directors).

D Sullivan and C Sullivan

CONTACT:  TOMLINSONS
          St John's Court,
          72 Gartside Street, Manchester M3 3EL
          Phone: 0870 60 70 170
          Fax:   0870 60 70 180
          E-mail: advice@tomlinsons.co.uk
          Web site: http://www.tomlinsons.co.uk


RED LETTER: Celebrity Founder Unaware of Firm's Demise
------------------------------------------------------
Directors of Red Letter Days have reportedly called in
administrators from Kroll to carry out a speedy sale of the gift
company.

The Sunday Times earlier noted that administration is the most
likely option for Red Letter Days as some of its partners have
already lost their patience, and stopped doing business with the
company.  Founder and chief executive Rachel Elnaugh disclosed,
however, that she had not known the company was in
administration.  This came even after Kroll confirmed the
appointment of Andrew Pepper and Alastair Beveridge as joint
administrators.

She said: "I don't know. I cannot comment and I need to terminate
this call."

Ms. Elnaugh reportedly spent last week denying claims that
suppliers had not been paid.  Both Thruxton Motorsport Centre and
Everyman Motor Racing Activities have said the firm owed them a
"substantial" amount of money, prompting them to disregard
vouchers for driving days.  Marine Connections, a marine charity
that organizes boat trips for whale and dolphin watching in Wales
and Cornwall, said it had asked solicitors to take up legal
action to recover about GBP15,000 allegedly due from Red Letter
Days.  Paintballing firm Go Ballistic has also reportedly
cancelled planned events for Red Letter Days as it was owed
thousand of pounds.

Ms. Elnaugh insisted they "have GBP3.3 million in the bank,
which we are waiting to be released."  She also admitted that she
had agreed to sell the business, saying "a deal has been done and
an announcement will be made shortly."

Ms. Elnaugh is famous for her appearance as panelist at the BBC
show Dragon's Den, which gives advice on budding entrepreneurs.
She refused to confirm whether fellow adviser Peter Jones, who
was quoted as saying Red Letter Days was "in a bad way" but not
bust, was involved in the transaction.

Meanwhile, Kroll administrators said they have "already received
interest from a number of third parties."   Mr. Pepper said: "We
are very keen to sell this business in short order, as any
consumer-facing business can quickly lose value if its customers
lose confidence in the brand."

The company has already axed 17 staff, which is equal to 10% of
its workforce.  Latest published figures show Red Letter Days
made a pre-tax loss in 2003 of GBP4.7 million.

CONTACT:  RED LETTER DAYS
          77 Muswell Hill
          Muswell Hill
          London N10 3RE
          Phone: 0870 444 4004
          Fax: 0870 444 9004
          Web site: http://www.redletterdays.co.uk


REGENT WINDOWS: Joint Liquidators Move in
-----------------------------------------
At an Extraordinary General Meeting of the Members of Regent
Windows Limited, duly convened, and held at Menzies, Mickleover
Court Hotel, Etwall Way, Mickleover, Derby DE3 0XX, on 21 July
2005, the following Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Paul A Whitwam and Gary E Blackburn, of the firm of BWC Business
Solutions, 8 Park Place, Leeds LS1 2RU, be and are hereby
appointed as Joint Liquidators for the purposes of such
winding-up."

C Chambers, Chairman

CONTACT:  BWC BUSINESS SOLUTIONS
          8 Park Place
          Leeds
          West Yorkshire LS1 2RU
          Phone: 0113 243 3434
          Fax: 0113 243 5049
          E-mail: bwc@bwc-solutions.com


ROYAL & SUNALLIANCE: Sells U.S. Auto Insurance Business
-------------------------------------------------------
Royal & SunAlliance Insurance Group plc has sold its specialty
U.S. Nonstandard Auto business, Viking Insurance, to Sentry
Insurance, a Mutual Company.

The consideration of approximately GBP200 million will be payable
in cash and will generate a post tax gain on disposal, on a U.S.
statutory basis, of around GBP155 million. This represents a
price of two times proforma book value.

As previously indicated, the net proceeds will be retained within
the remaining U.S. business in accordance with the approved Risk
Based Capital (RBC) plan.  The overall capital benefit of the
disposal will be approximately US$230 million, which is estimated
to increase the U.S. statutory RBC ratio of the remaining U.S.
business from 1.9 at 30 June 2005 to 2.3 on a proforma basis.

This transaction will generate a post tax gain on disposal under
IFRS of around US$135 million.

Andy Haste, Royal & SunAlliance Group Chief Executive Officer,
said: "The sale of Nonstandard Auto is in line with the plans and
timetable we outlined in March.  This disposal further reduces
the Group's exposure to the U.S., while providing the U.S.
operation with additional capital support."

The transaction is subject to regulatory approval.

                            *   *   *

Royal & SunAlliance has reportedly decided to transfer its
employees from pensions based on final salaries to packages based
on average career earnings.  This is said to be aimed at cutting
about GBP180 million from the company's GBP500 million pension
fund deficit.

The measure is part of the company's ongoing restructuring, which
comes amid mounting claims and weak investments.  The
company is said to have improved its risk profile, but it has
not yet totally eliminated the threat of potentially large
claims in the U.S.  The latter could dampen interest of
prospective buyers, according to analysts.

In June, Royal & SunAlliance sold a 20% stake in investment bank
Rothschild and fought off a potential takeover by Andrew Regan.

CONTACT:  ROYAL & SUNALLIANCE INSURANCE GROUP PLC
          30 Berkeley Sq.
          London
          W1J 6EW, United Kingdom
          Phone: +44-20-7636-3450
          Fax: +44-20-7636-3451
          Web site: http://www.royalsunalliance.com


R.R. REALISATIONS: Unsecured Creditors Meeting Set Next Week
------------------------------------------------------------
The unsecured creditors of R.R. Realisations Limited will meet on
Aug. 8, 2005 at 11:00 a.m.  It will be held at the One Great
Cumberland Place, Marble Arch, London W1H 7LW.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to N. A. Bennett, joint administrative receiver
of Leonard Curtis & Co, One Great Cumberland Place, Marble Arch,
London W1H 7LW not later than 12:00 noon, Aug. 5, 2005.

CONTACT:  LEONARD CURTIS & CO
          One Great Cumberland Place,
          Marble Arch, London W1H 7LW
          Phone: 020 7535 7000
          Fax:   020 7723 6059
          E-mail: solutions@leonardcurtis.co.uk
          Web site: http://www.leonardcurtis.co.uk


SAFETY DEVICES: Creditors to Meet Monday
----------------------------------------
The creditors of Safety Devices Limited will meet on Aug. 8, 2005
at 10:30 a.m.  It will be held at the Cambridge Quy Mill Hotel,
Church Road, Stow-Cum-Quy, Cambridge CB5 9AF.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to G. P. Bushby of Baker Tilly, 5th Floor, Exchange
House, 446 Midsummer Boulevard, Central Milton Keynes not later
than 12:00 noon, Aug. 7, 2005.

                            *   *   *

For over 30 years, the company provides possible solutions for
motor sport and automotive safety.  It is also the leading
manufacturer of roll cages.  Visit
http://www.safetydevices.co.uk/for more information.

CONTACT:  SAFETY DEVICES LTD
          30 Regal Drive
          Soham Ely CB7 5BE
          Cambridgeshire
          Phone: 01353 724200
          Fax: 01353 724213

          BAKER TILLY
          5th Floor, Exchange House,
          446 Midsummer Boulevard,
          Central Milton Keynes MK9 2EA
          Phone: 01908 687 800
          Fax:   01908 687 801
          Web site: http://www.bakertilly.co.uk


SPIRAL DUCT: In Voluntary Liquidation
-------------------------------------
At an Extraordinary General Meeting of the Members of Spiral Duct
Supplies Limited, duly convened, and held at Breckland Lodge,
London Road, Attleborough, Norfolk NR17 1AY, on 19 July 2005, the
following Resolutions were duly passed, as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Chris Williams, of McTear Williams & Wood, 90 St Faiths Lane,
Norwich NR1 1NE, be and he is hereby appointed Liquidator for the
purposes of such winding-up."

D Mason, Director

CONTACT:  MCTEAR WILLIAMS & WOOD
          De Vere House
          90 St Faiths Lane
          Norwich
          Norfolk NR1 1NE
          Phone: 01603 877540
          Fax: 01603 877549
          E-mail: chriswilliams@mw-w.com


SPORTS SYSTEMS: Calls in Liquidator
-----------------------------------
At an Extraordinary General Meeting of Sports Systems Limited,
duly convened, and held at Century House, 31 Gate Lane, Boldmere,
Sutton Coldfield, West Midlands B73 5TR, on 21 July 2005, the
subjoined Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
George H W Griffith, of George H. W. Griffith Ltd, t/a Griffith &
Griffith, be and he is hereby appointed Liquidator for the
purposes of such winding-up."

P Morrison, Director


SUPERSTAR DJ: Appoints Moore Stephens Liquidator
------------------------------------------------
At an Extraordinary General Meeting of the Members of Superstar
DJ Ltd, duly convened, and held at 6 Ridge House, Ridgehouse
Drive, Festival Park, Stoke on Trent ST1 5TL, on 20 July 2005,
the following Resolutions were duly passed, as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily and that M H
Abdulali, of Moore Stephens, 6 Ridge House, Ridgehouse Drive,
Festival Park, Stoke on Trent ST1 5TL, be and he is hereby
appointed Liquidator for the purposes of such winding-up."

D Townsend, Director

CONTACT:  MOORE STEPHENS
          6 Ridge House
          Ridge House Drive
          Festival Park
          Stoke on Trent
          Staffordshire
          ST1 5TL
          E-mail: mustafa.abdulali@uk.pkf.com
          Phone: 01782 201120
          Fax: 01782 201599


SWERVE FILMS: Appoints Liquidators from Elwell Watchorn
-------------------------------------------------------
At an Extraordinary General Meeting of Swerve Films Limited, duly
convened, and held at the offices of Elwell Watchorn & Saxton
LLP, 41 Welbeck Street, London W1G 8EA, on 20 July 2005, the
subjoined Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
John Michael Munn and Joseph Gordon Maurice Sadler, both of
Elwell Watchorn & Saxton LLP, 109 Swan Street, Sileby,
Leicestershire LE12 7NN, be and are hereby appointed Joint
Liquidators for the purposes of such winding-up."

R Ireland, Director

CONTACT:  ELWELL WATCHORN & SAXTON
          109 Swan Street,
          Sileby, Leicestershire, LE12 7NN
          Phone: (+44) 01509 815150
          Fax: (+44) 01509 815121
          E-mail: office@ews-insolvency.co.uk
          Web site: http://www.ews-insolvency.co.uk


THE DYEHOUSE: Calls in Receiver
-------------------------------
Name: The Dyehouse Limited

Registration Number: 3976132

Registered Office: Sherwood House, 2 Albert Road, Tamworth,
Staffs, B79 7JN

Court: Birmingham District Registry

Date of Filing Petition: March 16, 2005

No. of Matter: 2265 of 2005

Date of Winding-up Order: July 18, 2005

Official Receiver's Address: 3rd Floor East, Ladywood House, 45/6
Stephenson Street, Birmingham, B2 4UP


THOMAS JAMES: Gets Court Approval to Windup
-------------------------------------------
Name: Thomas James Designer Kitchens Ltd.

Registration Number: 04630416

Registered Office: 90 Nottingham Road, Mansfield,
Nottinghamshire, NG18 1BP

Court: High Court of Justice

Date of Filing Petition: March 30, 2005

No. of Matter: 002052 of 2005

Date of Winding-up Order: July 13, 2005

Official Receiver's Address: The Frontage, 4th Floor, Queen
Street, Nottingham, NG1 2BL


TOTAL WASTE: Calls in Liquidator from PKF
-----------------------------------------
At an Extraordinary General Meeting of the Members of Total Waste
Recycling Limited, duly convened, and held at Pannell House, 6
Queen Street, Leeds LS1 2TW, on 14 July 2005, the following
Resolutions were duly passed, as an Extraordinary Resolution and
as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Ian C Schofield, of PKF (UK) LLP, Pannell House, 6 Queen Street,
Leeds LS1 2TW, be and he is hereby appointed Liquidator for the
purposes of such winding-up."

S Brook, Director

CONTACT:  PKF
          Sovereign House,
          Queen Street, Manchester M2 5HR
          Phone: 0161 8325481
          Fax:   0161 8323849
          E-mail: info.manchester@uk.pkf.com
          Web site: http://www.pkf.co.uk


TRADEBIZ LIMITED: Manchester Court Okays Liquidation
----------------------------------------------------
Name: Tradebiz Limited

Registration Number: 03957888

Registered Office: 50 Carlisle Place, Bradford, West Yorkshire,
BD8 8AZ,

Court: Manchester

Date of Filing Petition: April 26, 2005

No. of Matter: 1606 of 2005

Date of Winding-up Order: June 22, 2005

Official Receiver's Address: 3rd Floor, 1 City Walk, Leeds, LS11
9DA


UNIQ PLC: Sells Nordic Salads Unit to Reduce Debt
-------------------------------------------------
Uniq plc, the European convenience foods group, has sold its
Nordic Salads business to Rieber & Son A.S.A. for EUR14 million.

This is in line with the Company's strategy stated in its
preliminary announcement on 23 May 2005 of focusing on building
stronger product category positions in each of the
Group's principal geographical regions, namely the U.K., France,
Spain and Germany/Benelux.

About EUR13 million of the purchase price will be paid
immediately, with the balance due on 30 August.  The price is
subject to adjustment based on the value of working capital at
completion.  The proceeds will be used to reduce Group
borrowings.

In the year to 31 March 2005, the loss attributable to the
business was GBP0.1 million (operating loss before exceptional
items, amortization and divisional charges), and the book value
of the tangible net assets of the business being sold were GBP7.3
million.

CONTACT:  UNIQ PLC
          1 Chalfont Park
          Gerrards Cross
          Buckinghamshire SL9 0UN
          Phone: +44-1753-276-000
          Fax: +44-1753-276-071
          Web site: http://www.uniq.com

          GAINSBOROUGH
          Julian Walker
          Phone: 020 7190 1705


VNC LIMITED: In Voluntary Liquidation
-------------------------------------
At an Extraordinary General Meeting of VNC Limited, duly
convened, and held at the offices of Valentine & Co., 4 Dancastle
Court, 14 Arcadia Avenue, London N3 2HS, on Monday 18 July 2005,
the following Resolutions were duly passed, as an Extraordinary
Resolution and as Ordinary Resolutions respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, that
Robert Valentine and Mark Reynolds, of Valentine & Co., 4
Dancastle Court, 14 Arcadia Avenue, London N3 2HS, be appointed
Joint Liquidators for the purposes of the voluntary winding-up,
and that the Joint Liquidators be authorized to act jointly and
severally in the liquidation."

H Green, Chairman

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


WELSH COAST: Court Appoints Receivers
-------------------------------------
Name: Welsh Coast Windows Ltd.

Registration Number: 04393683

Registered Office: 87 Whitchurch Road, Cardiff, CF14 3JP

Court: Birmingham District Registry

Date of Filing Petition: April 21, 2005

No. of Matter: 2391 of 2005

Date of Winding-up Order: July 18, 2005

Official Receiver's Address: 3rd Floor, Companies House, Crown
Way, Cardiff, CF14 3ZA


WOOLWORTHS GROUP: Completes Sale of Entertainment Unit
------------------------------------------------------
Woolworths Group plc has sold MVC Entertainment Limited for
GBP5.5 million to a group of retail investors led by Chris Steed,
Managing Director of Argyll Partners.

The sale was completed on 30 July 2005 and the consideration was
paid in cash at completion.  In addition there will be a further
cash inflow during the year resulting from working capital
reductions estimated to be GBP5 million - GBP10 million at
Entertainment UK Ltd.

The sale of MVC will create an exceptional loss (including
trading losses of the discontinued business) of approximately
GBP34 million in the half year to 30 July 2005.  Further detail
will be provided at the interim results to be published on 21
September 2005.

Trevor Bish-Jones, Chief Executive, said: "The disposal of MVC
removes a loss making business from the Group and allows us to be
solely focused on our retail business in Woolworths."

Christopher Steed said: "We are pleased to have completed the
acquisition of the business and look forward to working with the
team at MVC."

                            *   *   *

In July, Woolworths Group plc said that the retail climate has
remained difficult.  Woolworths Mainchain like-for-like sales
decreased by 4.4% in the 24 weeks to 16 July 2005.

Trevor Bish-Jones, Chief Executive, said: "The retail environment
remains challenging and against this background we continue to be
disciplined about controlling costs and stock while taking action
to improve the Group's businesses."

CONTACT:  WOOLWORTHS GROUP PLC
          Woolworth House, 242-246 Marylebone Rd.
          London
          NW1 6JL, United Kingdom
          Phone: +44-20-7262-1222
          Fax: +44-20-7706-5416
          Web site: http://www.woolworthsgroupplc.com

          Tulchan Group
          Kate Inverarity
          Phone: 020 7353 4200
          Celia Gordon-Shute
          Phone: 020 7353 4200


WTN GROUP: Members Decide to Wind up Firm
-----------------------------------------
At the extraordinary general meeting of the members of WTN Group
Plc, duly convened, and held at Enterprise House, 21 Buckle
Street, London E1 8NN, on 21 July 2005, the following Special
Resolutions were duly passed:

"That the Company be wound up voluntarily, and that M J Carter
and J. A. G. Alexander, of the firm of Carter Backer Winter, be
and they are hereby appointed as Joint Liquidators of the Company
for the purpose of the voluntary winding-up, the Liquidators are
to act jointly and severally."

A Kinnear, Director

CONTACT:  CARTER BACKER WINTER
          Enterprise House, 21 Buckle Street,
          London E1 8NN
          Phone: + 44 (0) 20 7309 3800
          Fax:   + 44 (0) 20 7309 3801
          E-mail: info@cbw.co.uk
          Web site: http://www.cbw.co.uk


YARDSTICK ENTERPRISES: HSBC Bank Appoints PKF Receiver
------------------------------------------------------
Name of company: YARDSTICK ENTERPRISES LIMITED
                 (Reg No 02998456)

                 YARDSTICK ENTERPRISES (LEEDS) LIMITED
                 (Reg No 04483376)

Trading Name: Pole Position

Nature of Business: Go-karting Arena

Address of Registered Office: Pannell House, 6 Queen Street,
Leeds LS1 2TW

Date of Appointment of Joint Administrative Receivers: July 6,
2005.

Name of Person Appointing the Joint Administrative Receivers:
HSBC Bank Plc

Joint Administrative Receivers: Ian C. Schofield (Office Holder
No 002647), PKF (UK) LLP, Pannell House, 6 Queen Street, Leeds
LS1 2TW and William Duncan (Office Holder No 06440), PKF (UK)
LLP, Knowle House, 4 Norfolk Park Road, Sheffield S2 3QE.

CONTACT:  PKF
          Pannell House
          6 Queen Street
          Leeds
          West Yorkshire LS1 2TW
          Phone: 0113 228 0000
          Fax: 0113 228 4242
          E-mail: ian.schofield@uk.pkf.com

          PKF
          Knowle House
          4 Norfolk Park Road
          Sheffield
          South Yorkshire S2 3QE
          Phone: 0114 276 7991
          Fax: 0114 275 3538


                            *********


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
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Copyright 2005.  All rights reserved.  ISSN 1529-2754.

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