---

        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, October 5, 2005, Vol. 6, No. 197

                            Headlines

B U L G A R I A

CHIMCO AD: Creditors Pick Novo Chimco


C Z E C H   R E P U B L I C

CZECH AIRLINES: Blames Spike in Fuel Cost for First-half Loss


G E R M A N Y

AGFAPHOTO GMBH: Brand Rights Row Holds up Sale
ARTHUR HARMS: Under Bankruptcy Administration
DAIMLERCHRYSLER AG: September U.S. Sales Up 4%
DAIMLERCHRYSLER AG: Mercedes Recalls 50,000 Vehicles
IHR PLATZ: Goldman Sachs Targets December Resale

INFINEON TECHNOLOGIES: Hits Back at IG Metall
KURT LOHR: Proofs of Claim Due Later this Month
MAS TRANSPORTLOGISTIK: Creditors Meeting Set November
MONALITHO PREPRESS: Calls in Administrator
RIEWA WOHNUNGSBAU: Hof Business Goes Bust

ROCKEL GMBH: Court to Verify Claims December
SILVIO HAKER: Creditors' Claims Due Next Week
TAUNUS HOTEL: Berlin Company Falls into Bankruptcy
THOMAS COOK: Sells Controlling Stake in Aldiana to Hermanos
U.K. ELEKTRO: Wuppertal Court Appoints Administrator
VOLKSWAGEN AG: Daimler Denies Rumored Plan to Buy VW Stake
WALTER BAU: Authorities Look into Bilfinger Berger Case


I T A L Y

PARMALAT FINANZIARIA: Creditors Okay Debt-to-equity Swap
PARMALAT U.S.A.: Asks Court to Determine Tax Liability, Refund
TISCALI S.P.A.: Secures About 2,000 New Clients Daily


K Y R G Y Z S T A N

BI-MAL: Creditors' Claims Due Mid-November
TKPP: Gives Creditors Until Next Month to File Claims


L U X E M B O U R G

SBS BROADCASTING: Shareholders Approve Planned Disposal


N E T H E R L A N D S

KONINKLIJKE AHOLD: Completes Acquisition of Julius Meinl Stores
KONINKLIJKE AHOLD: Violates Store Regulations in Prague
ROYAL SHELL: Buys Back Further 825,000 'A' Shares
UNITEDGLOBALCOM INC.: Off CreditWatch After Acquisition News


R U S S I A

AGRO-TEKHNIKA: Hires A. Karmeev Insolvency Manager
AROMA-SYNTHESIS: Insolvency Manager Takes over Business
BUR-VOD-STROY: Bankruptcy Supervision Procedure Begins
CENTRAL TELECOMMUNICATIONS: Credit Rating Raised to 'B-'
KABARDINSKIY: Declared Insolvent

KADUSKIY: Proofs of Claim Deadline Set Next Month
KURGANSKIY MEAT: Court Brings in Insolvency Manager
LIME FACTORY: Bankruptcy Hearing Set Next Week
ORENBURG-OIL-STROY: Public Auction Set Next Week
ORLOVSKIY: Orel Court Opens Bankruptcy Proceedings
VOLGODONSKIY: Creditors Have Until Next Week to File Claims


S W I T Z E R L A N D

CABLECOM HOLDINGS: Liberty to Buy Business for CHF4.4 Billion
CABLECOM HOLDINGS: Moody's Reviews Ratings for Upgrade
SWISS INTERNATIONAL: Sets up Body to Facilitate Lufthansa Merger


U K R A I N E

AGRAGATE NODES: Bankruptcy Supervision Starts
DNIPROVETS: Temporary Insolvency Manager Moves in
EXPRESS: Goes into Liquidation
GALSHKIRA: Lviv Court Appoints Insolvency Manager
HARKIV' AIRLINES: Under Bankruptcy Supervision

KAZANTIP-D: Insolvency Manager Takes over Helm
LOZUVATSKA: Declared Insolvent
LUGANSKLIFT: Court Appoints Temporary Insolvency Manager
REGINA: Files for Bankruptcy
TEHNOTORG: Succumbs to Insolvency


U N I T E D   K I N G D O M

ACTIVE SECURITY: Calls in Liquidator
AMAZING EVENTS: Creditors Meeting Set Next Week
ASHWOOD UPHOLSTERY: Hires Administrator from Purnells
BEACHCASE GALVANISING: Hires Administrators from Moore Stephens
BOOKS FOR STUDENTS: Calls in PwC Administrators

BOOTS GROUP: Merging with Alliance UniChem
BOOTS GROUP: Appoints New Chief Financial Officer
BOOTS GROUP: Fitch Lowers Rating to 'BBB+'
BOOTS GROUP: On Watch Negative After Merger News
BUILDING AND STRUCTURAL: Creditors Meeting Set Next Week

CALDER COMPONENTS: Owners Decide to Wind up Business
CASBURT LIMITED: Hires Poppleton & Appleby Administrator
CHAPMAN GRAPHICS: Business Collapses
CITY & ESSEX: Travel Firm Liquidates
CLYDESDALE BANK: To Ensure Branch Closures Won't Affect Service

DANKA BUSINESS: Expands Outsourcing Deal with MCI
EQUITABLE LIFE: Withdraws Claims Against Two Former Directors
ESNA LIMITED: Files for Liquidation
FEDERAL-MOGUL: Inks Pacts to Exit Bankruptcy
FIELD TECH: Appoints Clarke Bell Administrator

FIRETABLE LIMITED: Names Leonard Curtis Liquidator
FURNITURELAND HOLDINGS: Ernst & Young Administrators Move in
GLOVER ROPES: Names Tenon Recovery Liquidator
GRAYOAK LTD.: Goes into Liquidation
HYDRAQUIP SERVICES: EGM Passes Winding-up Resolutions

INSTEM TECHNOLOGIES: Administrators Take over Firm
INSTEM TECHNOLOGIES: Business for Sale
INVENSYS PLC: Completes Sale of Lambda Unit to TDK
JARVIS PLC: Sets Meeting to Tackle Incentive Plan, Share Schemes
JAVELIN COMPUTERS: Files for Liquidation

LOCAL WELLNESS: Business Fails
MARKET REACH: Call Center Winds up
MAYDAY GROUP: Creditors to Meet Friday
MEDIA PRINTING: Creditors Meeting Set Next Week
MEPC LTD.: S&P Downgrades Senior Unsecured Debt

NOVASPACE SHELVING: In Liquidation
NTL INC.: On Rating Watch Negative Pending Telewest Takeover
PERFORMANCE & DECK: Goes into Liquidation
POWERSAFE LIMITED: Contractors Call in Administrator
REGAL PETROLEUM: MFEU Approves Production Licenses

ROHILL (UK): Administrators from Harrisons Enter Company
SUSAN HAMILTON: Creditors Meeting Set Friday
TEKTRONIX UK: Hires Kroll Liquidator
TELEWEST COMMUNICATIONS: On S&P's CreditWatch Negative
TELEWEST GLOBAL: Inks Merger Deal with NTL

TRADELINK GLOBAL: Appoints B&C Associates Liquidator
TRESISES LIMITED: Print House Liquidates
WM MORRISON: Names Richard Pennycook Finance Director
WOODSTONE PEARCE: Hires Administrator from Albert Goodman


                            *********


===============
B U L G A R I A
===============


CHIMCO AD: Creditors Pick Novo Chimco
-------------------------------------
Creditors of Chimco AD have chosen the rehabilitation scheme
submitted by Novo Chimco over that of Inter RAO Bulgaria, said
Dnevnik.

According to Novo executive director Leonid Berenbaum, their plan
was picked because it carries Gazexport's guarantee to deliver
500 million cubic meters of natural gas per year to the Bulgarian
fertilizer maker.  Inter RAO Bulgaria will reportedly appeal the
decision, claiming Gazexport is committed to supply Chimco
regardless of the plan selected.

In April, Chimco reported an unaudited net loss of BGN80.951
million, or a fourfold increase from last year's BGN20.713
million.  A huge chunk of this loss was caused by a record
depreciation charge amounting to BGN75.064 million.

Hopes for Chimco's revival welled up when the Russia-based
Gazexport, through its Centrix Energy unit, promised to supply
natural gas vital in the operations of the fertilizer plant.

Mr. Berenbaum has said the plan would only materialize if Chimco
creditors, which include state-owned gas supplier Bulgargaz and
the National Electric Company (NEK), approve Novo's scheme.  Novo
intends to help Chimco repay BGN10 million in debt to the state
upon termination of bankruptcy proceedings.  Chimco's debt to
Bulgargaz and NEK, totaling BGN151 million, will be reset for 18
years.  In return, Novo Chimco will become sole owner, while
shares of 7,000 small investors will be cancelled.

Inter RAO's recovery plan involves paying all of Chimco's debt
plus interest to the state within three days after cancellation
of bankruptcy proceedings, while payment of the liabilities to
Bulgargaz and NEK will be extended for 10 years.

CONTACT:  CHIMCO AD
          3037 Vratza, Bulgaria
          Tel: +359-92-61071
          Fax: +359-92-61118
          E-mail: info@chimco.bg


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


CZECH AIRLINES: Blames Spike in Fuel Cost for First-half Loss
-------------------------------------------------------------
Czech Airlines reported a loss in the first half due to high fuel
prices, Czech Television reported Saturday.

Documents discussed by the firm's supervisory board showed a loss
of CZK464 million, instead of an expected CZK177 million profit,
the report said.  It now expects a loss for the full year of
between CZK350 million and CZK550 million, and not a profit of
CZK522 million as projected.  CSA did not publish the results.

On October 1, CSA raised fuel surcharges by another EUR3 to
EUR12.  Meanwhile, CSA is reportedly close to striking a
cooperation deal with CK Fischer, one of the largest travel
agencies in the country.  The deal is expected to increase CSA's
market share from 42% to 50%, and passengers by 100,000 from
640,000.  CSA estimates sales from charter flights at CZK1.84
billion this year.

CONTACT:  CESKE AEROLINIE A.S.
          Prague Ruzyni Airport
          160 08 Prague, 6, Czech Republic
          Phone: +42 220 104 310
          Fax:   +42 224 81 04 26
          Web site: http://www.csa.cz


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


AGFAPHOTO GMBH: Brand Rights Row Holds up Sale
----------------------------------------------
A dispute over brand rights threatens to upset the sale of
AgfaPhoto GmbH, Financial Times Deutschland says.

The potential buyers refuse to take over the company's factories
unless given the right to use the Agfa brand.  These investors
are Photo-Me International, the U.K. operator of automatic photo
booths; and Jork Hebenstreit, a former manager backed by a group
of investors.

The rights is currently held by AgfaPhoto majority owner Hartmut
Emans who bought the company from Agfa Gevaert on November last
year.  The former Belgian parent claims it had only lent the
brand to Mr. Emans for free and it will not him to sell the
rights or hold up the sale process.  It did not say what steps it
will take to achieve this.  Mr. Emans is demanding as much as
EUR20 million from potential buyers.

Photo-Me is interested in the production of photographic paper
and in the photographic chemicals division, while Mr. Hebenstreit
is keen on expanding the company's laboratory equipment business,
which he currently manages.  AgfaPhoto hopes to present their
offers at a creditors meeting on October 11.

In a separate development, insolvency administrator Andreas
Ringstmeier has released an expert's report claiming management
failed to take all possible steps to prevent the group's
collapse.

                            *   *   *

Headquartered in Im Mediapark, 5 D-50670 Cologne, AgfaPhoto
GmbH -- http://www.agfaphoto.com-- manufactures photographic
film, papers, chemicals and disposable cameras.  It also offers
online print service, on-site processing, kiosk systems and
wholesale finishing.  The company has 1,800 employees.

Agfa-Gevaert N.V. sold the firm to the management and a group of
financial investors for EUR112 million in November 2004.  In just
six months, the company filed for insolvency at the district
court of Cologne and appointed Andreas Ringstmeier provisional
administrator.

Financial Times Deutschland recently said job cuts at AgfaPhoto
may exceed original expectations of 850 to 1,500 because current
bids can only secure 500 jobs.  The company blames the growing
popularity of digital photography.  It has 32 subsidiaries
outside Germany that are not affected by the insolvency.  The
company owes money to suppliers and pension security body
Pensionssicherungsverein.

CONTACT:  AGFAPHOTO GERMANY GmbH
          Im Mediapark 5
          D-50670 Cologne
          Phone: +49 221 98544-3723
          Fax: +49 221 98544-3805
          Web site: http://www.agfaphoto.com


ARTHUR HARMS: Under Bankruptcy Administration
---------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Arthur Harms Spedition GmbH on September 8.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until November 16,
2005 to register their claims with court-appointed provisional
administrator Dr. Hans-U. Hildebrandt.

Creditors and other interested parties are encouraged to attend
the meeting on December 7, 2005, 10:40 a.m. at the district court
of Hamburg, Insolvenzgericht, Sievekingplatz 1, 20355 Hamburg, 4.
Etage, Anbau, Saal B 405, 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:  ARTHUR HARMS SPEDITION GmbH
          Moorfleeter Strasse 15, 22113 Hamburg
          Contact:
          Marita Harms, Manager
          Winterhuder Weg 40, 22085 Hamburg

          Dr. Hans-U. Hildebrandt, Administrator
          Raboisen 38, 20095 Hamburg
          Phone: 33446-0
          Fax: 33446-111


DAIMLERCHRYSLER AG: September U.S. Sales Up 4%
----------------------------------------------
DaimlerChrysler AG reports total group sales of 193,108 passenger
vehicles in the U.S. for September 2005, a 4% increase year on
year.

Chrysler Group, which makes Chrysler, Jeep and Dodge cars, posted
sales of 175,556 vehicles in the U.S., up 4%.  After launching a
record nine new models in 2004, the Chrysler Group continues to
launch new vehicles at a brisk pace during 2005, including the
all-new 2006 Jeep Commander, Dodge Charger and Jeep Liberty CRD.
The company is currently shipping to dealers the all-new 2006
Jeep Commander, which has received enthusiastic feedback from the
media and great anticipation among consumers.

Mercedes-Benz USA (MBUSA) posted sales of 17,552, a 1% increase
compared to the same month last year and the best September sales
in its history.  In September, the all-new 2006 M-Class, built in
Vance, Alabama, continued its strong momentum in the market.

Arriving at dealerships this month, the R-Class, which represents
a new segment Mercedes calls the Grand Sports Tourer segment,
will join the M-Class and double the company's penetration in the
fast-growing luxury light truck market.  These models will
further expand MBUSA's position as offering the widest product
portfolio in the luxury vehicle market and the company expects
yet another record year.

                        About the Company

Headquartered in Stuttgart, Germany, DaimlerChrysler AG produces
cars and trucks under the brands Chrysler, Dodge, Jeep,
Mercedes-Benz, Smart, and Maybach, among others.

A "merger of equals" between U.S.-based Chrysler Corporation and
Germany's Daimler-Benz was announced in 1998.  However, in 2003,
Detroit News revealed that the "merger of equals" was, in fact, a
buyout of Chrysler by the German firm.

The deception sparked several lawsuits, including the US$1
billion claim by billionaire investor Kirk Kerkorian, which was
rejected by the court in April.

In 2000, DaimlerChrysler's U.S. finance arm was also accused of
discriminating against African Americans and Hispanics, the
settlement of which required the carmaker to offer several
billion dollars in loans.

The carmaker is also a subject of several investigations.  German
financial services regulator BaFin has started a formal probe
after finding "grounds" to suspect illegal trades of Daimler
stocks, which went up prior to the announcement of Juergen
Schrempp's exit as chief executive.  It is also being
investigated by the U.S. Justice Department over bribery claims
at the Mercedes Car Group.

While its Chrysler unit is slowly recuperating, the market share
of the Mercedes Benz division continues to slip.  Mercedes has
been described a "tarnished" brand in the wake of slipups in
design and engineering.  Losses incurred by Mercedes Benz were
also blamed for the 30% drop in DaimlerChrysler's first quarter
earnings.  The poor result was mostly due to the EUR512 million
that was spent to revamp its losing Smart venture, which has yet
to post a profit.

Despite these, DaimlerChrysler still projects last year's EUR5.75
billion operating profit to double by 2008, with Mercedes booking
operating profit of EUR4.7 billion in four years.  Chrysler group
aims to book EUR2.3 billion in profit on top of the EUR2 billion
and EUR2.2 billion from the commercial vehicles business and its
services operations.

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


DAIMLERCHRYSLER AG: Mercedes Recalls 50,000 Vehicles
----------------------------------------------------
DaimlerChrysler AG's Mercedes division is recalling some 50,000
vehicles due to defective windshield wipers, said the Associated
Press.

The recall includes Vaneo units built between April 2002 and
March 2003 as well as A-Class vehicles produced between April
2002 and 2003.  It will affect mostly clients from Germany.

DaimlerChrysler, which was silent regarding the cost of the
recall, stressed that the flaw had not caused any accidents or
fatalities.  Mercedes has been described a "tarnished" brand in
the wake of slipups in design and engineering, which forced the
division to recall 1.3 million units this year, the largest in
Daimler's history.

Mercedes has also seen falling profits due to model changeovers,
the strong euro, and losses at its Smart venture, which has
already cost the company EUR512 million.

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


IHR PLATZ: Goldman Sachs Targets December Resale
------------------------------------------------
Goldman Sachs has taken over all the assets of collapsed health
and beauty products retailer Ihr Platz, Borsen Zeitung says.

The investment bank only paid the controlling Frombling family a
symbolic price, but absorbed Platz's debts.  The bank revealed
its intention to buy the company in May to save it from
liquidation.  It plans to sell Platz later this year when it
emerges from insolvency proceedings started in September.

The country's fifth-largest chain of chemist's shops expects
positive cash flow in the last quarter.  The company retails
cosmetics, body care products and domestic goods in 681 branches
and 143 franchised stores.  It posted EUR1.24 billion in sales in
2003.

CONTACT:  IHR PLATZ GMBH + CO. KG
          CardService
          Postfach 3740
          49027 Osnabruck
          Phone: (0800) 50 35 131
          Web site: http://www.ihrplatz.de


INFINEON TECHNOLOGIES: Hits Back at IG Metall
---------------------------------------------
Infineon Technologies defended its plan to close the
Munich-Perlach site and called the bluff of IG Metall to strike,
Frankfurter Allgemeine Zeitung says.

An expert's report commissioned by the workers council recently
stated that, with an appropriate level of investment, the plant
could still be productive.  But the company said the same report
admitted that even favorable conditions cannot offset the plant's
economic and structural disadvantages.

Infineon likewise shrugged off the accusation that it will just
waste EUR100 million in closing the site, saying the figure
includes cost for modernization and relocation of production to
other plants.

The company, meanwhile, is prepared for any strike, adding
industrial actions cannot change economic realities.  It chided
IG Metall for leading these actions when it did not participate
in previous labor talks.

In February, Infineon head Wolfgang Ziebart revealed plans to
phase out the site by 2007, citing falling demand for its special
microchips and lagging production technology.

                          About Infineon

Infineon Technologies AG, Munich, Germany, offers semiconductor
and system solutions for automotive, industrial and multi-market
sectors, for applications in communication, as well as memory
products.  With a global presence, Infineon operates through its
subsidiaries in the U.S. from San Jose, CA; in the Asia-Pacific
region from Singapore; and in Japan from Tokyo.  In fiscal year
2004 (ending September), the company achieved sales of EUR7.19
billion with about 35,600 employees worldwide.  Infineon is
listed on the DAX index of the Frankfurt Stock Exchange and on
the New York Stock Exchange (ticker symbol: IFX).

CONTACT:  INFINEON TECHNOLOGIES AG
          P.O.  Box 80 09 49
          D-81609 Muenchen
          Phone: +49-89-234-0
          Fax: +49-89-234-2-84-82
          Web site: http://www.infineon.com


KURT LOHR: Proofs of Claim Due Later this Month
-----------------------------------------------
The district court of Bonn opened bankruptcy proceedings against
KURT LOHR GmbH on September 12, 2005.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until October 27, 2005 to register their claims
with court-appointed provisional administrator Jana Dettmer.

Creditors and other interested parties are encouraged to attend
the meeting on December 13, 2005, 10:00 a.m. at the district
court of Bonn, Insolvenzgericht, Wilhelmstrasse 21, 53111 Bonn,
Zimmer W 1.24 C, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report during
this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  KURT LOHR GmbH
          Heerstr. 8, 53840 Troisdorf
          Contact:
          Kurt Lohr, Manager

          Jana Dettmer, Administrator
          Weyerstrasse 54, 50676 Koln
          Phone: 0221 / 9212170
          Fax: 022192121720


MAS TRANSPORTLOGISTIK: Creditors Meeting Set November
-----------------------------------------------------
The district court of Ludwigsburg opened bankruptcy proceedings
against MAS Transportlogistik GmbH on September 8.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until October 19, 2005 to
register their claims with court-appointed provisional
administrator Martin Wagner.

Creditors and other interested parties are encouraged to attend
the meeting on November 9, 2005, 9:00 a.m. at the district court
of Ludwigsburg, Schorndorfer Strasse 28, Palais Schuetz, Saal
2008, 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:  MAS TRANSPORTLOGISTIK GmbH
          Contact:
          Marc Holger Schlatterer, Manager
          Am Obstmarkt 13, 71522 Backnang

          Martin Wagner, Administrator
          Konigstrasse 28, 70173 Stuttgart
          Phone: 0711/164450


MONALITHO PREPRESS: Calls in Administrator
------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against MonaLitho Prepress & Print GmbH on September 8.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until October 21, 2005
to register their claims with court-appointed provisional
administrator Kerstin Gruettner.

Creditors and other interested parties are encouraged to attend
the meeting on November 14, 2005, 12:10 p.m. at the district
court of Hamburg, Insolvenzgericht, Weidestrasse 122d, 22083
Hamburg, Saal 1, 2. Ebene (Zi. 2.18), 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:  MONALITHO PREPRESS & PRINT GmbH
          Warnstedtstr. 10, 22525 Hamburg
          Contact:
          Friedhelm Niel, Manager

          Kerstin Gruettner, Administrator
          Neuer Wall 86, 20354 Hamburg
          Phone: 040/361307-0
          Fax: 040/3611307-300


RIEWA WOHNUNGSBAU: Hof Business Goes Bust
-----------------------------------------
The district court of Hof opened bankruptcy proceedings against
Riewa Wohnungsbau und Verwaltungs GmbH on September 7.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until November 9, 2005
to register their claims with court-appointed provisional
administrator Kai Roehler.

Creditors and other interested parties are encouraged to attend
the meeting on November 30, 2005, 1:30 p.m. at the district court
of Hof, Berliner Platz 1, 95030 Hof, 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:  RIEWA WOHNUNGSBAU UND VERWALTUNGS GmbH
          August-Bebel-Str. 17 in 95126 Schwarzenbach/Saale

          Kai Roehler, Administrator
          Aussere Sulzbacher Str. 159, 90491 Nuernberg
          Phone: 0911/9593690
          Fax: 0911/95936999


ROCKEL GMBH: Court to Verify Claims December
--------------------------------------------
The district court of Bonn opened bankruptcy proceedings against
Rockel GmbH on September 12.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until November 4, 2005 to register their claims
with court-appointed provisional administrator Dirk-Henning
Tonnesmann.

Creditors and other interested parties are encouraged to attend
the meeting on December 12, 2005, 9:30 a.m. at the district court
of Bonn, Insolvenzgericht, Wilhelmstrasse 21, 53111 Bonn, 2
Stock, Saal S 2.20, 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:  ROCKEL GmbH
          Rehgasse 14, 53894 Mechernich
          Contact:
          Willi Rockel, Manager

          Dirk-Henning Tonnesmann, Administrator
          Josef-Ruhr-Str. 30, 53879 Euskirchen
          Phone: 02251 / 65081-22
          Fax: 65081-25


SILVIO HAKER: Creditors' Claims Due Next Week
---------------------------------------------
The district court of Stralsund opened bankruptcy proceedings
against Haker GmbH on September 7.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until October 14, 2005 to register their claims
with court-appointed provisional administrator Uwe
Degen-Gellenbeck.

Creditors and other interested parties are encouraged to attend
the meeting on November 16, 2005, 10:30 a.m. at the district
court of Stralsund, Frankendamm 17, Haus A, 4. OG, Saal A4 21, 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:  HAKER GmbH
          Contact:
          Silvio Haker, Manager
          Hauptstr. 29, 17498 Weitenhagen

          Uwe Degen-Gellenbeck, Administrator
          J.-S.-Bach-Str. 21, 17489 Greifswald


TAUNUS HOTEL: Berlin Company Falls into Bankruptcy
--------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Taunus Hotel- und Gaststattengesellschaft mbH
on September 8.  Consequently, all pending proceedings against
the company have been automatically stayed.  Creditors have until
December 7, 2005 to register their claims with court-appointed
provisional administrator Dr. Dirk Wittkowski.

Creditors and other interested parties are encouraged to attend
the meeting on October 26, 2005, 9:40 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 February 1,
2006, 9:00 a.m. at the same venue.

CONTACT:  TAUNUS HOTEL- UND GASTSTATTENGESELLSCHAFT mbH
          Schuetzallee 2,14169 Berlin

          Dr. Dirk Wittkowski, Administrator
          Kirchblick 11, 14129 Berlin


THOMAS COOK: Sells Controlling Stake in Aldiana to Hermanos
-----------------------------------------------------------
Troubled tour operator Thomas Cook will sell its majority stake
in holiday resort Aldiana to Spanish real estate group Hermanos
Santana Cazorla.

According to Borsen Zeitung, Hermanos will acquire 75.1% of
Aldiana for an undisclosed sum.  The paper estimates the purchase
price at EUR100 million and the acquisition to include Aldiana's
liabilities.  Thomas Cook says the sale would generate neither
book loss nor profit.

Aldiana, a non-core business, contributed to Thomas Cook's
EUR175.9 million loss last year via a EUR29.3 million write-down.
It posted a loss last year on turnover of EUR130 million, but it
expects a turnaround this year.

Hermanos, which specialises in time-share apartment complexes,
booked turnover of EUR300 million last year.  Earlier reports
identified travel groups TUI and Kuoni Travel and U.S. financial
investor Advent International as possible buyers.

The sale is part of the company's effort to return to
profitability by October.  Lufthansa and KarstadtQuelle jointly
own Thomas Cook, Europe's No. 2 travel agency.

CONTACT:  THOMAS COOK AG
          Zimmersmuehlenweg 55
          61440 Oberursel
          Phone: +49-6171-6500
          Fax: +49-6171-652-125
          Web site: http://www.thomascook.de

          HERMANOS SANTANA CAZORLA, S.L.
          Princesa Tenesoya,
          106 Cruce y Playa de Arinaga
          Phone: 928188586


U.K. ELEKTRO: Wuppertal Court Appoints Administrator
----------------------------------------------------
The district court of Wuppertal opened bankruptcy proceedings
against U.K. Elektro GmbH on September 15.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until October 13, 2005 to register their
claims with court-appointed provisional administrator Stefan
Conrads.

Creditors and other interested parties are encouraged to attend
the meeting on November 4, 2005, 9:50 a.m. at the district court
of Wuppertal, Hauptstelle, Eiland 2, 42103 Wuppertal, 2. Etage,
Saal 234, 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:  U.K. ELEKTRO GmbH
          Neuenhauser Kotten 1, 42655 Solingen
          Contact:
          Ulrich Johannes Klein, Manager

          Stefan Conrads, Administrator
          Mankhauser Str. 7a, 42699 Solingen
          Phone: 0212/22172-0
          Fax: 0212/22172-18


VOLKSWAGEN AG: Daimler Denies Rumored Plan to Buy VW Stake
----------------------------------------------------------
DaimlerChrysler AG has reportedly ruled out taking a stake in
Volkswagen AG, leaving the latter still vulnerable to hostile
takeovers.

"We will not take a stake in Volkswagen, even in the future," a
company spokesman said Sunday.

The Financial Times described the decision a blow to Volkswagen's
largest shareholder, the state of Lower Saxony, and could make
the carmaker weaker against hostile investors.  The paper, along
with Frankfurter Allgemeine Zeitung, earlier reported that the
two rival manufacturers have discussed taking cross-shareholdings
in each other.  FAZ said DaimlerChrysler could take 10% of
Volkswagen shares, while Volkswagen could acquire a 6.9% stake in
DaimlerChrysler.  However, DaimlerChrysler has brushed aside
reports of its plans to buy into Volkswagen, said the Associated
Foreign Press.

A company spokesman admitted the two companies had expressed
their intentions to work together, but the talks had come to
nothing.  Die Welt newspaper has said that DaimlerChrysler eyes
building its next Smart model with Volkswagen, to be released by
2009.

Meanwhile, Volkswagen welcomes Porsche's intention to raise its
shareholding in the company from under 5% to 20%.  Chief
Executive Bernd Pischetsrieder has reportedly stressed the
company's need for a steady shareholder structure to fulfill its
long-term goals.  He added the increase in Porsche's shareholding
could strengthen their working relations.

CONTACT:  VOLKSWAGEN AG
          Brieffach 1848-2
          38436 Wolfsburg, Germany
          Phone: +49 53 61 90
          Fax: +49 53 61 92 82 82
          Web site: http://www.volkswagen.de


WALTER BAU: Authorities Look into Bilfinger Berger Case
-------------------------------------------------------
Managers of construction company Bilfinger Berger AG are under
investigation for allegations of breach of cartel regulation
raised by insolvent rival Walter Bau, AFX News reports.  The
public prosecutors office of Bochum Germany seized documents from
Bilfinger's offices in Mannheim and Essen last week as it starts
investigation on possible 'betrayal of confidence' and breach
against competition regulation by managers.

Earlier in the year, Walter Bau privately sued Bilfinger for
allegedly poaching top-level executives from Walter Heilit
Verkehrswegebau GmbH.  Walter Heilit is a civil engineering
company owned by Walter that Bilfinger tried to acquire but lost
to Strabag AG.  At the time, Bilfinger claimed Walter Bau gave
Strabag preferential treatment.  Walter Bau responded with the
lawsuit.  It asked a court in Munich to issue a temporary
injunction against Bilfinger Berger to pre-empt Bilfinger's
taking of 15-20 managers who had been recruited from Walter
Heilit.

CONTACT:  WALTER BAU AG
          Boheimstr. 8
          86153 Augsburg
          Phone: +49 (0)8 21/55 82-00
          Fax: +49 (0)8 21/55 82-3 20
          Web site: http://www.walter-bau.de

          BAUHOLDING STRABAG AG
          Ortenburgerstrasse 27
          9800 Spittal/Drau, Austria
          Phone: +43-47-62-62-00
          Fax: +43-47-62-49-62
          Web site: http://www.bauholding.at


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


PARMALAT FINANZIARIA: Creditors Okay Debt-to-equity Swap
--------------------------------------------------------
Creditors of collapsed food group Parmalat Finanziaria officially
approved the proposed EUR20 billion debt-to-equity swap last
week, The Associated Press says.

Judge Giuseppe Coscioni and Pasquale Liccardo announced Saturday
around 71% of the group's creditors, mostly bondholders, voted in
favor of the swap.  The swap ratios vary according to seniority
of the debt and its issuer.

AFX News, in a separate report, said creditors will receive EUR11
worth of shares in the new Parmalat for every EUR100 in debt.
This will cancel the group's EUR13.5 billion debt, newspaper Il
Giornale said.  According to simulations made by Parmalat,
bondholders will hold 58.7% of the new company; domestic banks,
17.4%; foreign banks, 9.7%; suppliers, 7.6%; and other creditors,
6.6%.

In a statement Sunday, the company said creditors of 16
subsidiaries were among those who approved the swap.  They are
creditors of Parmalat S.p.A., Parmalat Finanziaria S.p.A.,
Eurolat S.p.A., Lactis S.p.A., Geslat Srl, Parmengineering Srl,
Contal Srl, Dairies Holding International B.V., Parmalat Capital
Netherlands B.V., Parmalat Finance Corporation B.V., Parmalat
Netherlands B.V., Olex S.A., Parmalat Soparfi S.A., Newco Srl,
Panna Elena CPC Srl, and Centro Latte Centallo Srl.

State-appointed administrator Enrico Bondi hopes approval of the
company's relisting will be as prompt as the debt swap.  "I hope
the procedures to relist will be as swift as the court procedures
have been," he said.

The debt swap paves the way for Parmalat's relisting, which,
according to Industry Minister Claudio Scajola, will take place
on October 5, 2005.  Upon relisting, the group will be renamed to
Parmalat S.p.A.

The Financial Times, meanwhile, said the new group may become a
takeover object.  At least two rivals -- Italy's Granarolo and
France's Lactalis -- have appointed financial advisers in
preparation for a bid, it said.

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

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


PARMALAT U.S.A.: Asks Court to Determine Tax Liability, Refund
--------------------------------------------------------------
James M. Sullivan, Esq., at McDermott, Will & Emery, LLP, in New
York, tells Judge Drain of the U.S. Bankruptcy Court for the
Southern District of New York that one of the means Parmalat
S.p.A. and its Italian affiliates defraud creditors was to
systematically force Parmalat U.S.A. Corporation and its U.S.
debtor-affiliates to record in their books false "reimbursement
credits," which were fictitious receivables from Parmalat to
purportedly reimburse the U.S. Debtors for marketing and
advertising costs that allegedly benefited Parmalat and its
affiliates worldwide.

According to Mr. Sullivan, the booking of the Reimbursement
Credits on the U.S. Debtors' books and records concealed tens of
millions of dollars in losses.  The Reimbursement Credits were
represented on the U.S. Debtors' financial statements to be
Parmalat's bona fide obligations, but in reality, no
reimbursement was ever paid or was intended to be paid to the
U.S. Debtors by Parmalat or its affiliates.

From 2000 to 2002, Parmalat instructed the Debtors to book
Reimbursement Credits for $69,415,250 as reimbursement for the
U.S. Debtors' marketing and administrative costs that they
incurred on Parmalat's behalf.  The Debtors, however, never
incurred marketing and advertising costs.  Mr. Sullivan further
notes that none of the Reimbursement Credits were ever paid to
the Debtors.

"[B]ecause the Debtors did not actually incur marketing and
administrative costs on behalf of Parmalat and its affiliates,
there was never an accrual of income to the Debtors," Mr.
Sullivan says.

Over the eight-year period ranging from 1995 to 2002, the
Debtors' income totaled approximately $193,915,250, composed of:

   Year   Credit Amount   Owed to         Owed by
   ----   -------------   -------         -------
   1995    $20,000,500    Parmalat USA    Parmalat
   1996     43,000,000    Parmalat USA    Parmalat
   1997     22,000,000    Parmalat USA    Parmalat
   1998     20,000,000    Parmalat USA    Parmalat
   1999     19,000,000    Farmland        Parmalat
   2000      4,000,000    Parmalat USA    Parmalat
            13,400,000    Farmland        Parmalat Finance Corp.
   2001     37,000,000    Farmland        Bonlat Financing Corp.
   2002     56,315,250    Parmalat USA    Bonlat Financing Corp.
            58,700,000    Farmland        Bonlat Financing Corp.

                 Filing of Original Tax Returns

During 2000 to 2002, the Debtors filed certain U.S. Corporation
Income Tax Returns, which taxable income amount was offset by
carry-forward net operating losses in the same amounts:

     Tax Year      Filing Date      Taxable Income Amount
     --------      -----------      ---------------------
       2000         10/15/01            $15,889,715
       2001         09/16/02              1,026,785
       2002         09/15/03              9,369,254

However, in the original tax return for 2000, the Debtors paid a
US$302,666 alternative minimum tax.

In March 2004, AlixPartners started investigating the numerous
claims among the Debtors and between affiliated and
non-affiliated third parties and spent several months analyzing
the Debtors' overall financial institution, including the
recording of the Reimbursement Credits.  Based on the results of
that investigation -- which was completed by AP Services
following its appointment -- the Debtors' new management decided
to amend the Original Tax Returns to correct the Debtors' taxable
income for 2000, 2001 and 2002.

                       The Amended Returns

Mr. Sullivan explains that the errors reflected in the Original
Tax Returns are the result of alleged overstatement of the U.S.
Debtors' income relating to the fraudulent recording of the
Reimbursement Credits: In the Original Tax Return:

   * for 2000, Parmalat U.S.A. Corp. reported an additional
     $4,000,000 income while Farmland Dairies LLC reported an
     additional $13,400,000 income;

   * for 2001, Farmland Dairies reported an additional
     $37,000,000 income; and

   * for 2002, Parmalat USA reported an additional $6,315,250
     income while and Farmland Dairies reported an additional
     $8,700,000 income.

Based on their corrected tax returns, the U.S. Debtors asked the
United States Internal Revenue Service to rectify the erroneous
recording of the Reimbursement Credits by:

   -- issuing a refund for 2000 for the overpayment of taxes in
      the amount of $302,666 in Alternative Minimum Tax; and

   -- increasing the Debtors' NOLs for 2000, 2001 and 2002 to
      $1,510,285, $35,973,215, and $5,645,996.

                         Dispute With IRS

On Feb. 10, 2005, the IRS sent a letter and an accompanying
Revenue Agent Report to the U.S. Debtors, disallowing in full the
deductions of $17,400,000, $37,000,000, and $15,015,250 for 2000,
2001, and 2002.

The IRS asserted that the U.S. Debtors characterized the
recording of the Reimbursement Credits as a mere "clerical
mistake."  The IRS rejected that argument because the
Reimbursement Credits were supported by correspondence, journal
entries, and confirmations that purport to establish the
legitimacy of the Reimbursement Credits.

Specifically, the IRS said the transactions relating to the
Reimbursement Credits were coordinated and directed by Parmalat
and were supported by:

   -- Intercompany Debt Agreements signed by all parties;

   -- internal confidential memoranda; and

   -- global journal entries posted to the company ledger,

which were all reviewed and sanctioned by Deloitte & Touche,
Ltd., the Debtors' accountants and auditors.

The IRS maintained that the U.S. Debtors have filed a claim in
Parmalat's joint insolvency proceedings in Parma, Italy, to
collect on "open inter-company receivables."  The IRS asserted
that the U.S. Debtors may collect on the Reimbursement Credits in
the Italian Proceedings and, thus, cannot be entitled to the
refund and adjustment of NOLs.

Furthermore, the IRS stated that the U.S. Debtors' fraud
allegations against Parmalat are unproven.  Until there is a
positive judicial disposition by a court in their favor, the U.S.
Debtors have no basis for claiming that the Reimbursement Credits
were improper income accruals.

The U.S. Debtors deny the IRS' assertions on these grounds:

   (a) The presence of a "paper trail" purporting to establish
       the Reimbursement Credits' legitimacy could in no way
       overcome the fundamental fraud involved;

   (b) The U.S. Debtors will never collect any of the
       Reimbursement Credits owed to them except for a single
       Reimbursement Credit inexplicably allowed by one of
       Parmalat's affiliates in the Italian Proceedings
       and for which the U.S. Debtors expect to receive only
       a 5% distribution;

   (c) The Reimbursement Credits fraudulently booked were not
       proper accruals of income because they were baseless and
       devoid of any connection to economic reality; and

   (d) The fact that Deloitte & Touche reviewed and sanctioned
       the documents allegedly supporting the Reimbursement
       Credits should not be taken into consideration because
       evidence exists that the firm may not have adequately
       performed its role as the U.S. Debtors' accountants and
       auditors.

The U.S. Debtors, together with Farmland Dairies LLC Litigation
Trust, ask the Court to declare that they are entitled to a
$301,666 federal income tax refund and deductions to increase
their NOLs for 2000, 2001, and 2002.

Mr. Sullivan clarifies that the U.S. Debtors will not be able to
use the requested NOLs since their existing NOLs will be
sufficient to offset future taxable income to be generated by the
liquidation of Parmalat U.S.A.'s assets.  Although the Plan
provides for Farmland's reorganization as a going concern, it
will not use the NOLs because it has reorganized as an entity
treated as a partnership for tax purposes.

If the IRS ultimately pays the refund, the U.S. Debtors expect
other state and local courts to follow the precedent and allow
the Debtors to obtain refunds of state and local taxes, and to
avoid payment of the taxes.  The U.S. Debtors estimate that
amount of state and local taxes at issue total $1,200,000.

Headquartered in Wallington, New Jersey, Parmalat U.S.A
Corporation -- http://www.parmalatusa.com/-- generates more than
EUR7 billion in annual revenue.  The Parmalat Group's 40-some
brand product line includes milk, yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.  It employs over 36,000 workers in 139 plants
located in 31 countries on six continents.  The Company filed for
chapter 11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case
No. 04-11139).  Gary Holtzer, Esq., and Marcia L. Goldstein,
Esq., at Weil Gotshal & Manges LLP, represent the Debtors.  When
the U.S. Debtors filed for bankruptcy protection, they reported
more than US$200 million in assets and debt.  The U.S. Debtors
emerged from bankruptcy on April 13, 2005.  (Parmalat Bankruptcy
News, Issue No. 62; Bankruptcy Creditors' Service, Inc.,
215/945-7000)

CONTACT:  PARMALAT FINANZIARIA
          Sede legale: 43044 Collecchio (Pr)
          - Via Oreste Grassi, 26
          Codice fiscale e iscrizione nel Registro delle Imprese
          di Parma 00175250471 - Partita I.V.A. 01938950340 -
          R.E.A. Parma n. 188325 - U.I.C. n. 730

          Sede amministrativa: 20122 Milano
          Piazza Erculea, 9
          Phone: (39) 02.8068801
          Fax: (39) 02.8693863
          E-mail: x_affari_societari_it@parmalat.net


TISCALI S.P.A.: Secures About 2,000 New Clients Daily
-----------------------------------------------------
Tiscali S.p.A. is gaining up to 2,000 new Italian broadband
clients a day, said AFX News.

Chief Executive Sergio Cellini has confirmed that the firm's
broadband operations are going well.

In an interview with La Republica, Mr. Cellini said: "In June,
our clients were 220,000, with a 10% growth in the quarter.  We
expect to keep the same growth rate."

While the slow activation process affects the growth of its
Voiceover IP business, Tiscali has seen the influx of 10,000
customers so far.

Mr. Cellini added that the company has allotted EUR30 million for
its network expansion plans in 2006, while its Sky Italia unit is
looking at a football content contract.

                        About the Company

Headquartered in Cagliari, Italy, Internet provider Tiscali
counts more than 7 million subscribers, of which more than 1.5
million are broadband users.  It has sold non-core assets to
raise money to cover a EUR250 million bond that matured in July.

As of March 31, the group had financial resources of EUR180.2
million, and net debt of EUR381.7 million.  Pre-tax loss in the
first-quarter is EUR17.9 million.  Its senior unsecured debt is
rated 'CCC+' by Fitch.  Its short-term rating is at 'B'.

Tiscali Finance S.A.'s EUR250 million guaranteed floating-rate
notes due in July 2005 and its EUR209.5 million guaranteed
equity-linked bonds due in September 2006 are rated 'CCC+'.

CONTACT:  TISCALI S.p.A.
          Sa Illetta
          09122 Cagliari
          Phone: +39 02 309011
          E-mail: ir@tiscali.com
          Web site: http://www.tiscali.com


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


BI-MAL: Creditors' Claims Due Mid-November
------------------------------------------
LLC Bi-Mal, which recently became insolvent, will accept proofs
of claim at Alamudunsk district, Lebedinovka, Lenina Ave. 4/19
until November 15, 2005.  Call (0-312) 23-52-37 for more
information.


TKPP: Gives Creditors Until Next Month to File Claims
-----------------------------------------------------
LLC TKPP, which recently became insolvent, will accept proofs of
claim at Bishkek, Suembayeva Str. 146/64 until November 15, 2005.
Call (0-312) 54-46-27 for more information.


===================
L U X E M B O U R G
===================


SBS BROADCASTING: Shareholders Approve Planned Disposal
-------------------------------------------------------
SBS Broadcasting S.A. (NASDAQ: SBTV; Euronext Amsterdam N.V.:
SBS) said on Oct. 3 that the proposed acquisition of SBS's
business by an entity controlled by funds advised by two leading
private equity firms, Permira and KKR, was approved by its
shareholders at the extraordinary general meeting of SBS's
shareholders held Monday in Luxembourg.  SBS's shareholders also
approved the related resolutions set out in the Shareholders
Circular that was distributed on September 1, 2005 in relation to
the transaction.

SBS expects that the closing for the transaction will occur in
the second half of October 2005, following the satisfaction or
waiver of the remaining conditions precedent included in the Sale
and Purchase Agreement for the transaction, and that the
distribution to shareholders of sale proceeds and related amounts
and payments to option holders will occur shortly thereafter.
The remaining conditions precedent, which are described in the
Shareholders Circular, include receipt of competition clearance
from the European Commission.  SBS plans to announce when the
remaining conditions precedent have been satisfied or waived and
the closing date has been established.

About SBS Broadcasting S.A.

SBS is a European commercial television and radio broadcasting
company with operations in Western and Central Europe.  Countries
where SBS currently has broadcasting assets include: Belgium
(Flanders), Denmark, Finland, Greece, Hungary, The Netherlands,
Norway, Romania and Sweden.

                            *   *   *

As reported by TCR-Europe on Aug. 25, Moody's Investors Service
placed the Ba2 Corporate Family Rating of SBS Broadcasting on
review for possible downgrade following an announcement that the
company has entered into a definitive agreement to be acquired by
funds advised by Permira and Kohlberg Kravis Roberts (KKR).

Moody's expects that a successful completion of the acquisition
by Permira and KKR would increase SBS' leverage above the current
level of c. 3x such that SBS's financial profile would no longer
be consistent with the Ba2 rating level.  Moody's rating review
will focus primarily on SBS' financial position, capital
structure and future operational strategy.

CONTACT:  SBS BROADCASTING S.A.
          Web site: http://www.sbsbroadcasting.com

          Investors
          Michael Sm argiassi/Jon Lesko
          Brainerd Communicators
          Phone: +1 212 986 6667


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


KONINKLIJKE AHOLD: Completes Acquisition of Julius Meinl Stores
---------------------------------------------------------------
Royal Ahold on Monday said it has successfully completed the
acquisition of 56 stores in the Czech Republic from Julius Meinl
a.s.

Ahold and Julius Meinl a.s., a Czech subsidiary of the Austrian
holding company Julius Meinl International AG, announced the
transaction on August 1, 2005.  Closing of the transaction was
subject to certain closing conditions, including anti-trust
approval.

                            *   *   *

Headquartered in Amsterdam, Ahold is one of the world's leading
food providers.  It encompasses an international group of local
food retail and foodservice operators that do business under
their own brand names.  It has over 200,000 associates and 2004
consolidated net sales of approximately EUR52 billion.

                           The Trouble

Ahold encountered trouble in 2003 when it admitted a US$500
million overstatement of EBITA at its U.S. foodservice
distribution arm, requiring restatement of financial accounts for
2002 and previous years.  In November that year, it announced a
3-year 'Road to Recovery' program that includes a EUR2.5 billion
rights issue, EUR300 million and US$1.45 billion back-up credit
facilities, and at least EUR2.5 billion in asset sales.  The
program is aimed at returning the company to investment grade by
end of 2005.

                         Status to date

In August, Standard & Poor's Ratings Services raised its
long-term corporate credit ratings on Ahold to 'BB+' from 'BB'
with a stable outlook to reflect substantial improvement of the
group's financial profile in the past 18 months.  This follows
the completion of a significant disposal program, to date
exceeding the stated EUR2.5 billion ($3.1 billion) target.

Standard & Poor's said it would consider an upgrade to investment
grade level only if:

(a) The challenging environment currently prevailing in the
    group's core U.S. and Dutch retail markets improves; and

(b) The ratio of FFO to fully adjusted net debt and the EBITDAR
    coverage of net fixed charges improve beyond 25% and 2.5x,
    respectively.

Despite the group's deleveraging target and the completion of
remaining disposals in 2005, these conditions might not be
achieved in the near term, given the very challenging trading
conditions that are prevailing in the group's core markets.

CONTACT:  KONINKLJKE AHOLD
          Phone: +31 (0) 75 659 5720


KONINKLIJKE AHOLD: Violates Store Regulations in Prague
-------------------------------------------------------
Two Royal Ahold Hypernova outlets in Prague face hundreds of
thousands of crowns in fines for food labeling violations, Prague
Daily Monitor reports.

The State Agriculture and Food Inspection Office (SZPI) found
that the expiry date on some meat products at the Hypernova
outlet in Cestlice outside Prague has been manipulated.  In a
Hypernova in Nove Butovice, incorrect expiry date specifications
were found, SZPI Spokesperson Daniela Kolejkova said.

Ahold reportedly failed to explain the infraction despite
repeated requests, and as such will be sanctioned for the
attitude, according to Ms. Kolejkova.  Ahold denied the
manipulation, saying it was its supplier that was to blame.  It
said it had penalized the company.

Earlier this year, SZPI also discovered manipulation with expiry
dates at the Hypernova outlet on Budejovicka street in Prague.
In Jindrichuv Hradec, South Bohemia, a Hypernova was told to stop
selling because the outlet was infested with mice.

Ahold is taking over outlets of Julius Meinl, whose stores in
Ceske Budejovice, Prague and Tabor, South Bohemia were also found
to have committed violations.

CONTACT:  ROYAL AHOLD
          Albert Heijnweg 1
          1507 EH Zaandam, The Netherlands
          Phone: +31 (0)75 659 9111
          Web site: http://www.ahold.com

          Investor Relations:
          E-mail: investor.relations@ahold.com
          Phone: +31 (0)75 659 58 28


ROYAL SHELL: Buys Back Further 825,000 'A' Shares
-------------------------------------------------
On 3 October 2005, Royal Dutch Shell plc purchased for
cancellation 825,000 'A' Shares at a price of EUR27.56 per share.
It further purchased for cancellation 275,000 'A' Shares at a
price of 1,873.35 pence per share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 4,016,565,000.

As of that date, 2,759,360,000 'B' Shares of Royal Dutch Shell
plc were in issue.

                            *   *   *

Shell's buyback scheme is understood to be aimed at reviving
shareholders' and investors' confidence.  The buyback program
follows a damaging reserves overestimation scandal last year.

                        About the Company

Royal Dutch Shell plc is incorporated in England and Wales, has
its headquarters in The Hague and is listed on the London,
Amsterdam, and New York stock exchanges.  Shell companies have
operations in more than 145 countries with businesses including
oil and gas exploration and production; production and marketing
of Liquefied Natural Gas and Gas to Liquids; manufacturing,
marketing and shipping of oil products and chemicals and
renewable energy projects including wind and solar power.

                           The Trouble

Shell admitted overstating its proved reserves by almost 6.0
billion barrels between January 2004 and February this year. This
led to the ouster of three top executives, including former
Chairman Philip Watts.  The company was fined EUR150 million in
total after investigations launched by U.S. and British
regulators.  Shell has since revised the method by which it
calculates reserves to comply with U.S. regulations.  Shell's
proved reserves stood at 10.2 billion barrels at the end of
2004.

CONTACT:  ROYAL DUTCH/SHELL GROUP OF COMPANIES
          Carel van Bylandtlaan 30
          2596 HR The Hague
          The Netherlands
          Phone: +31 70 377 9111
          Fax: +31 70 377 3115
          Web site: http://www.shell.com


UNITEDGLOBALCOM INC.: Off CreditWatch After Acquisition News
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' long-term
corporate credit ratings on UPC Holding B.V. and related entities
and removed the ratings from CreditWatch with positive
implications following the announcement that Liberty Global Inc.,
UPC's ultimate parent, has reached agreement to acquire Cablecom
Holdings AG (B/Stable/--) for Swiss franc (SFr) 2.825 billion
($2.186 billion).  The ratings on Cablecom and related entities,
including the 'B' long-term corporate credit rating, were also
affirmed.  The outlooks on all entities are stable.

At the same time, Standard & Poor's affirmed its 'CCC+' senior
secured debt rating on UPC's notes issue, which has been
increased by EUR300 million (about $357 million) to EUR800
million. The increase will be used in part to fund the
acquisition consideration.  Further details about these rating
actions are to follow shortly.

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:  UNITEDGLOBALCOM INC.
          Web site: http://www.unitedglobal.com/
          Richard S.L. Abbott
          Investor Relations - UGC
          Phone: (303) 220-6682
          E-mail: ir@unitedglobal.com


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


AGRO-TEKHNIKA: Hires A. Karmeev Insolvency Manager
--------------------------------------------------
The Arbitration Court of Penza region commenced bankruptcy
proceedings against Agro-Tekhnika after finding the open joint
stock company insolvent.   The case is docketed as
A49-6020/205-95B6/26.  Mr. A. Karmeev has been appointed
insolvency manager.
Creditors have until October 10, 2005 to submit their proofs of
claim to 440008, Russia, Penza region, Kulakova Str. 8/2, Office
54.

CONTACT:  AGRO-TEKHNIKA
          Russia, Penza region,
          Narovchat, Gagarina Str. 2a

          Mr. A. Karmeev
          Insolvency Manager
          440008, Russia, Penza region,
          Kulakova Str. 8/2, Office 54


AROMA-SYNTHESIS: Insolvency Manager Takes over Business
-------------------------------------------------------
The Arbitration Court of Kaluga region commenced bankruptcy
proceedings against Aroma-Synthesis after finding the open joint
stock company insolvent.  The case is docketed as
A23-3718/02B-10-341.  Ms. T. Titova has been appointed insolvency
manager.  Creditors have until November 10, 2005 to submit their
proofs of claim to 248010, Russia, Kaluga, Komsomolskaya Rosha
Str. 39.

CONTACT:  AROMA-SYNTHESIS
          Russia, Kaluga region,
          Komsomolskaya Rosha Str. 39

          Ms. T. Titova
          Insolvency Manager
          248010, Russia, Kaluga region,
          Komsomolskaya Rosha Str. 39


BUR-VOD-STROY: Bankruptcy Supervision Procedure Begins
------------------------------------------------------
The Arbitration Court of Mordoviya republic has commenced
bankruptcy supervision procedure on close joint stock company
Bur-Vod-Stroy.  The case is docketed as A39-4709/05-183/7.  Mr.
E. Mochalov has been appointed temporary insolvency manager.
Creditors have until October 10, 2005 to submit their proofs of
claim to 430000, Russia, Mordoviya republic, Saransk, Lenina Str.
12, Room 230.

CONTACT:  BUR-VOD-STROY
          430034, Russia, Mordoviya republic, Saransk,
          Lyambirskoye Shosse, 2nd km.

          Mr. E. Mochalov
          Temporary Insolvency Manager
          430000, Russia, Mordoviya republic,
          Saransk, Lenina Str. 12, Room 230


CENTRAL TELECOMMUNICATIONS: Credit Rating Raised to 'B-'
--------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term corporate
credit rating on Central Telecommunications Co. (JSC) (CTC), one
of the largest fixed-line operators in Russia, to 'B-' from
'CCC+', reflecting the company's ability to improve operating
performance and prevent further deterioration of its weak
financial profile.  The outlook is stable.

At the same time, Standard & Poor's raised its long-term Russia
national scale rating on CTC and its senior unsecured debt issues
to 'ruBBB-' from 'ruBB+'.

"The rating action reflects noticeable improvement in CTC's
operating and financial performance during 2005," said Standard &
Poor's credit analyst Lorenzo Sliusarev.  The company has
effectively focused on controlling costs, considerably reducing
capital spending, and enhancing profitability.

Importantly, CTC has managed to prevent its significant debt load
from increasing further.  Nevertheless, the ratings continue to
be constrained by CTC's considerable exposure to financial risk,
marked by its weak liquidity and high leverage.

Standard & Poor's expects that CTC is capable of further
stabilizing its financial risk, while continuing to enhance its
operations and network.

"Should CTC deliver a marked improvement in its operating results
while continuing to effectively address financial risks, the
ratings might be reviewed for a potential upgrade, or the outlook
might be revised to positive," added Mr. Sliusarev.

"Conversely, a failure to improve the company's challenging
liquidity position, or further deterioration of its limited
financial flexibility and credit protection measures, would have
negative implications for the ratings," he said.

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:  CENTRAL TELECOMMUNICATIONS
          Phone: (095) 209-34-34
          Fax: (095) 209-30-07
          E-mail: info@centertelecom.ru
          Web site: http://www.centertelecom.ru/


KABARDINSKIY: Declared Insolvent
--------------------------------
The Arbitration Court of Kabardino Balkariya republic commenced
bankruptcy proceedings against Kabardinskiy after finding the
starch factory insolvent.  The case is docketed as A20-7643/04.
Mr. E. Katyukha has been appointed insolvency manager.  Creditors
may submit their proofs of claim to 360000, Russia, Kabardino
Balkariya republic, Nalchik, Lermontova Str. 54, Room 203.

CONTACT:  KABARDINSKIY
          361115, Russia, Kabardino Balkariya republic,
          Mayskiy region, Aleksandrovskaya St.

          Mr. E. Katyukha
          Insolvency Manager
          360000, Russia, Kabardino Balkariya republic,
          Nalchik, Lermontova Str. 54, Room 203


KADUSKIY: Proofs of Claim Deadline Set Next Month
-------------------------------------------------
The Arbitration Court of Vologda region commenced bankruptcy
proceedings against Kaduskiy after finding the winery insolvent.
The case is docketed as A13-2257/2005-25.  Mr. A. Novitskiy has
been appointed insolvency manager.  Creditors have until November
10, 2005 to submit their proofs of claim to 160014, Russia,
Vologda region, Gogolya Str. 88, office 27.

CONTACT:  KADUSKIY
          Russia, Vologda region,
          Pskovskaya Str. 1A

          Mr. A. Novitskiy
          Insolvency Manager
          160014, Russia, Vologda region,
          Gogolya Str. 88, Office 27


KURGANSKIY MEAT: Court Brings in Insolvency Manager
---------------------------------------------------
The Arbitration Court of Kurgan region commenced bankruptcy
proceedings against Kurganskiy Meat Combine after finding the
municipal unitary enterprise insolvent.  The case is docketed as
A34-1200/05.  Mr. G. Varshavskiy has been appointed insolvency
manager.  Creditors have until November 10, 2005 to submit their
proofs of claim to 640000, Russia, Kurgan region,
Mashinostroiteley Pr. 31.

CONTACT:  KURGANSKIY MEAT COMBINE
          640007, Russia, Kurgan region,
          Nekrasova Str. 1

          Mr. G. Varshavskiy
          Insolvency Manager
          640000, Russia, Kurgan region,
          Mashinostroiteley Pr. 31


LIME FACTORY: Bankruptcy Hearing Set Next Week
----------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on Lime Factory.  The case is
docketed as A07-26355/05-G-FLE.  Mr. V. Karteshkov has been
appointed temporary insolvency manager.

Creditors have until October 10, 2005 to submit their proofs of
claim to:

(a) LIME FACTORY
    453122, Russia, Bashkortostan republic,
    Sterlitamak, Babushkina Str. 61

(b) The Arbitration Court Of Bashkortostan republic
    Russia, Bashkortostan republic, Ufa,
    Oktyabrskoy Revolyutsii Str. 63a, Room 208

A hearing will take place on October 8, 2005, 2:00 p.m. at the
Arbitration Court of Bashkortostan republic at Russia,
Bashkortostan republic, Ufa, Oktyabrskoy Revolyutsii Str. 63a,
Room 208.


ORENBURG-OIL-STROY: Public Auction Set Next Week
------------------------------------------------
The open joint stock company Orenburg-Oil-Story will sell its 17
properties on October 12, 2005, 2:00 p.m.  The public auction
will take place at Russia, Orenburg region, Turkestanskaya Str.
10A.

Preliminary examination and reception of bids are done daily from
9:00 a.m. to 5:00 p.m. on or before October 7, 2005.  The list of
documentary requirements is available at Russia, Orenburg,
Turkestanskaya Str. 10A.

CONTACT:  ORENBURG-OIL-STROY
          Russia, Orenburg region,
          Turkestanskaya Str. 10A


ORLOVSKIY: Orel Court Opens Bankruptcy Proceedings
--------------------------------------------------
The Arbitration Court of Orel region commenced bankruptcy
proceedings against Orlovskiy after finding the watch factory
insolvent.  The case is docketed as A48-187/05-17B.  Mr. A.
Evseev has been appointed insolvency manager.

Creditors have until November 10, 2005 to submit their proofs of
claim to:

(a) ORLOVSKIY
    302028, Russia, Orel region,
    Oktyabrskaya Str. 27

(b) Insolvency Manager
    302004, Russia, Orel region,
    3rd Kurskaya Str. 13

(c) The Arbitration Court of Orel region
    302024, Russia, Orel region,
    S-Shedrina Str. 22


VOLGODONSKIY: Creditors Have Until Next Week to File Claims
-----------------------------------------------------------
The Arbitration Court of Rostov region has commenced bankruptcy
supervision procedure on wine and vodka distillery Volgodonskiy
(TIN 6107003855).  The case is docketed as A53-8790/05-S2-30.
Mr. G. Antonets has been appointed temporary insolvency manager.

Creditors have until October 10, 2005 to submit their proofs of
claim to:

(a) VOLGODONSKIY
    Russia, Rostov region,
    Volgodonskiy region, Progress

(b) Temporary Insolvency Manager
    344010, Russia, Rostov-na-Donu,
     Post User Box 573


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


CABLECOM HOLDINGS: Liberty to Buy Business for CHF4.4 Billion
-------------------------------------------------------------
Liberty Global Inc. said on Sept. 30 its subsidiary United ACM
Holdings, Inc. entered into a definitive agreement to acquire
100% of the outstanding share capital of Cablecom Holdings AG
from the sole shareholder Glacier Holdings S.C.A.

The terms of the Agreement value Cablecom at approximately
CHF56.22 per share, which implies a total equity value of
CHF2,825 million and enterprise value of approximately CHF4.4
billion.

The Agreement is subject only to transfer of certain licenses and
the approval of the shareholders of Glacier's general partner.

Closing of the transaction is expected to take place in October
this year.

The Board of Directors of Glacier Holdings GP S.A. was convened
for an emergency meeting to consider the proposal received from
Liberty Global, following the launch of Cablecom's IPO on Sept.
29.  The Board, following its fiduciary duty to consider all
approaches, concluded that a sale to Liberty Global is in the
best interest of Cablecom, its shareholders, customers and
employees and will support the creation of a strong alternative
national telecommunications company.  As a consequence of
entering into the Agreement, Cablecom will abandon its
preparations for an initial public offering of its shares with a
listing on the Swiss Exchange, which was scheduled for 13
October.

Rationale for Transaction

In acquiring Cablecom, Liberty Global makes another important
step in its further development of building a pan-European cable
company and is committed to support Cablecom's established growth
strategy to position the Company as the leading alternative for
telecommunications services in Switzerland.  Liberty Global
supports Cablecom's public policy position relating to the Swiss
regulatory environment.  The acquisition provides Liberty Global
with instant scale and critical mass in Switzerland.  The
shareholders of Cablecom are provided with an attractive
opportunity to exit their investment following a highly
successful financial restructuring, which has allowed Cablecom to
take advantage of the growth opportunities in its market.

           Report of Bruno Claude, CEO and President

This transaction represents the culmination of a tremendous
turnaround of the company in just four years.  This
transformation is a tribute to our employees.  The outcome
announced will deliver a strong number two telecommunications
market position in Switzerland, which is our long-term objective.

With the backing of Liberty Global, Cablecom benefits
significantly from being part of a wider media family both in
terms of content acquisition and access to leading edge
technologies at lower cost.  Liberty Global has had a
longstanding interest in Cablecom and is a strategic investor
capable of funding the continuing long-term development
requirements of Cablecom, benefiting its customers and
employees."

Goldman Sachs International, Credit Suisse First Boston and
Morgan Stanley and Co. International acted as financial adviser
to Glacier Holdings S.C.A. Bar & Karrer, Kirkland & Ellis and
Wachtell, Lipton, Rosen & Katz acted as legal advisers to Glacier
Holdings S.C.A. JP Morgan Chase and UBS acted as financial
advisers to Liberty Global.

About Cablecom

Cablecom is the largest cable-based communications provider in
Switzerland, providing consumers with an integrated "triple-play"
offering of cable television, broadband Internet and fixed-line
telephony.  In addition, it offers managed wide area network
(WAN), voice services and value-added services to the Swiss
business market and provides analog television signal delivery
and engineering, operating and carrier services to its wholesale
customers.  Its national local loop network, one of only two in
Switzerland, operates in 14 of 16 largest Swiss cities.

About Liberty Global

Liberty Global owns interests in broadband distribution and
content companies operating outside the continental United
States, principally in Europe, Asia, and the Americas.  Through
its subsidiaries and affiliates, Liberty Global is the largest
broadband cable operator outside the U.S. in terms of
subscribers.  Based on the Company's consolidated operating
statistics at June 30, 2005 (other than NTL Ireland which we
consolidate but do not control), Liberty Global's networks passed
approximately 23.5 million homes and served approximately 14.9
million revenue generating units, including approximately 10.7
million video subscribers, 2.5 million broadband
Internet subscribers and 1.8 million telephone subscribers.

CONTACT:  CABLECOM HOLDING AG
          Media Relations
          Stephan Howeg
          Phone: +41 1 277 9999

          Investor Relations
          Ivan Nash
          Phone: +41 1 277 9738

          GOLDMAN SACHS INTERNATIONAL
          Luca Ferrari
          Phone: +44 20 7774 1000

          Fedor Schulten
          Phone: +44 20 7774 1000

          CITIGATE DEWE ROGERSON
          Liberty Global
          Christopher Noyes
          Investor Relations - Denver
          Phone: +1 303 220 6693

          Bert Holtkamp
          Corporate Communications - Europe
          Phone: +31 20 778 9447

          Dennis Okhuijsen
          Investor Relations - Europe
          Phone: +31 20 778 2964


CABLECOM HOLDINGS: Moody's Reviews Ratings for Upgrade
------------------------------------------------------
Liberty Global, Inc. regarding the acquisition of a 100%
shareholding in Cablecom Holdings AG for a total consideration of
CHF2.825 billion, Moody's Investors Service has initiated a
review for upgrade on the company's debt ratings.  Moody's will
factor in its review the issuance of EUR550 million paid-in-kind
(PIK) loan at the level of United ACM Holdings Inc., a holding
company outside the restricted group.  Concurrently, Moody's
assigned a definitive B2 rating on the company's senior secured
notes.

Ratings affected are:

Cablecom Luxembourg SCA:

(a) B2 Senior secured notes in the amount of CHF 390 million and
    EUR200 million maturing 2010;

(b) B2 Senior secured notes in the amount of EUR375 million
    maturing 2012; and

(c) Caa1 Senior notes in the amount of EUR290 million maturing
    2014.

Moody's decision to initiate the review for upgrade reflects
Cablecom's continued robust operational and financial
performance, which resulted in the consolidated leverage of 5.1x
Total Debt to EBITDA as of 30 June 2005.  Furthermore, in its
review Moody's will consider the potential operational and
financial benefits for Cablecom from becoming a part of the
pan-European cable operator, UnitedGlobalCom, Inc.

At the same time, Moody's acknowledges that the issuance of the
PIK loan will result in a material increase in Cablecom's
consolidated leverage (including the PIK loan) from c. 5.1x to c.
7.6x Total Debt to EBITDA on a LQA basis at United ACM Holdings
level.  Moody's notes that the terms and conditions of the
existing notes would have prohibited additional debt issuance
within the restricted group.  The rating agency will therefore
consider this increased leverage in its analysis of the corporate
family rating.  Moreover, the review will focus on the
positioning of the corporate family rating within the overall
group.

The PIK loan issuance is outside the restricted group thus
limiting the negative impact of the additional debt on the
existing notes.  Furthermore, Moody's understands that there will
not be any changes to the terms and conditions of the restricted
group's indebtedness.  Therefore, any PIK interest payments on
the loan will be subject to the restricted payments test as
embedded in the terms and conditions of the existing notes.
Moody's also notes that the PIK loan will have a cash interest
component, which will be pre-funded for approx.  28 months of
debt service at the issuance of the loan.  Moody's assumes that
there will be no change in Cablecom Holdings S.a.r.l.'s and
Cablecom Luxembourg GP S.a.r.l.'s claim on Cablecom Luxembourg
S.C.A., which Moody's currently understands to be equity-based.

Following the change in the ownership, a change in control clause
will be triggered in Cablecom's existing debt instruments
including the CHF150 million undrawn revolving bank facility.  In
the event any of the notes and/or the revolving facility is put
for repayment/replacement, it is Moody's expectation that
Cablecom intends to finance these pre-payments from committed
financing.  Furthermore Moody's understands that the committed
financing will rank pari-passu with the senior secured notes.

Additionally, Moody's notes the optional call redemption of the
senior secured notes in October 2005.  It is Moody's expectation
that the notes are unlikely to be called by the company thus
limiting refinancing risk.

Cablecom Luxembourg, whose operating company is located in
Zurich, Switzerland, is a leading provider of analog cable,
digital cable, Internet broadband and telephony services in
Switzerland.  Revenues and EBITDA for the three months ending 30
June 2005 were CHF210.3 million and CHF85.9 million.

CONTACT:  MOODY'S INVESTORS SERVICE LTD. (LONDON)
          Jenya Brown, Analyst
          Corporate Finance Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454

          David G. Staples, Managing Director
          Corporate Finance Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454

          CABLECOM HOLDING AG
          Media Relations
          Stephan Howeg
          Phone: +41 1 277 9999

          Investor Relations
          Ivan Nash
          Phone: +41 1 277 9738

          GOLDMAN SACHS INTERNATIONAL
          Luca Ferrari
          Phone: +44 20 7774 1000

          Fedor Schulten
          Phone: +44 20 7774 1000

          CITIGATE DEWE ROGERSON
          Liberty Global
          Christopher Noyes
          Investor Relations - Denver
          Phone: +1 303 220 6693

          Bert Holtkamp
          Corporate Communications - Europe
          Phone: +31 20 778 9447

          Dennis Okhuijsen
          Investor Relations - Europe
          Phone: +31 20 778 2964


SWISS INTERNATIONAL: Sets up Body to Facilitate Lufthansa Merger
----------------------------------------------------------------
The Swiss Air Transport Foundation was established on Monday in
the Swiss city of Zug.  The foundation's mandate is to support
the development of air transport and its related infrastructure
in Switzerland, as well as the integration of SWISS into the
Lufthansa Airline Group.  In this role, the foundation will
endeavor to ensure that Switzerland's interests are given due
consideration.

The foundation was established Monday, following the selection of
its members in July by the SWISS Board of Directors, in
consultation with the key stakeholders involved.  The foundation
is to exist for ten years. Bruno Gehrig will be its chairman.
The other members are Raymond Cron, Thomas Bieger, Claudio
Generali and Conrad Meyer.  An observer to be determined by
Lufthansa will attend the meetings held by the foundations'
trustees.

Foundation chairman Bruno Gehrig commented on this new challenge:
"Air transport and its infrastructure are of primary importance
for Switzerland as a business location and tourist destination.
We are pleased that the foundation will be able to contribute to
the development of air transport in Switzerland and to support
the integration of SWISS into the Lufthansa Group, with due
consideration being given to Switzerland's interests.

The foundation will meet several times each year with the Board
of Directors and Management of SWISS in order to keep abreast of
all the topics relevant to SWISS.  The foundation is entitled to
comment publicly on issues relating to air transport in
Switzerland. The Swiss Air Transport Foundation is also entitled
to make non-binding, confidential recommendations to executive
management of SWISS and Lufthansa.

CONTACT:  SWISS INTERNATIONAL
          Corporate Communications
          P.O. Box, CH-4002 Basel
          Phone: +41 (0) 848 773 773
          Fax: +41 61 582 35 54
          E-mail: communications@swiss.com


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


AGRAGATE NODES: Bankruptcy Supervision Starts
---------------------------------------------
The Economic Court of Sumi region commenced bankruptcy
supervision procedure on OJSC Agragate Nodes (code EDRPOU
00222396) on August 3, 2005.  The case is docketed as 6/64-05.
Mr. Kaluzhnij Mikola (License Number AA 630148) has been
appointed temporary insolvency manager.  The company holds
account number 260059220 at JSPPB Aval, Sumi regional branch, MFO
337483.

CONTACT:  AGRAGATE NODES
          41400, Ukraine, Sumi region,
          Gluhiv, 40 Rokiv Peremogi Str. 52

          Mr. Kaluzhnij Mikola
          Temporary Insolvency Manager
          41800, Ukraine, Sumi region,
          Bilopillya, K. Libkneht Str. 43
          Phone: 8 (0543) 9-28-74

          ECONOMIC COURT OF SUMI REGION
          40030, Ukraine, Sumi region,
          Shevchenko Avenue 18/1


DNIPROVETS: Temporary Insolvency Manager Moves in
-------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on Agricultural CJSC Dniprovets (code
EDRPOU 30593910).  The case is docketed as B 40/77/05.  Mr.
Grishin Mihajlo (License Number AA 116283) has been appointed
temporary insolvency manager.  The company holds account number
26001101355001 at JSCB Ukrsocbank, Dniprodzerzhinsk branch, MFO
305051.

CONTACT:  DNIPROVETS
          51840, Ukraine, Dnipropetrovsk region,
          Petrikivskij district,
          Kirilivka, Gagarin Str. 6

          Mr. Grishin Mihajlo
          Temporary Insolvency Manager
          49049, Ukraine, Dnipropetrovsk region,
          Shtabnij Lane, 5/162

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


EXPRESS: Goes into Liquidation
------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Express (code EDRPOU 30745881) on August 16,
2005 after finding the private company insolvent.  The case is
docketed as B 24/214/05.  Mr. Leonid Talan has been appointed
liquidator/insolvency manager.

CONTACT:  EXPRESS
          49030, Ukraine, Dnipropetrovsk region,
          Barnaulska Str. 2a

          Mr. Leonid Talan
          Liquidator/Insolvency Manager
          49000, Ukraine, Dnipropetrovsk region, a/b 158
          Phone: (0562) 92-53-18

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


GALSHKIRA: Lviv Court Appoints Insolvency Manager
-------------------------------------------------
The Economic Court of Lviv region commenced bankruptcy
proceedings against Galshkira (code EDRPOU 23956787) on May 24,
2005 after finding the company insolvent.  Mr. Oleg Suval
(License Number AA 250475) has been appointed
liquidator/insolvency manager.  The company holds account number
260090060564/980/840, 260490660564 at Ukreksimbank, Lviv branch,
MFO 325718.

CONTACT:  Mr. Oleg Suval
          Liquidator/Insolvency Manager
          81300, Ukraine, Lviv region,
          I. Kupala Str. 2/9

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


HARKIV' AIRLINES: Under Bankruptcy Supervision
----------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
supervision procedure on OJSC Harkiv' Airlines (code EDRPOU
25469838) on July 20, 2005.  The case is docketed as B-19/72-05.
Mr. Vitalij Tkachenko (License Number AB 216868) has been
appointed temporary insolvency manager.  The company holds
account number 26009311229 at JSCB Bazis, First Harkiv branch,
MFO 351599.

CONTACT:  HARKIV' AIRLINES
          61031, Ukraine, Harkiv Aeroport

          Mr. Vitalij Tkachenko
          Temporary Insolvency Manager
          Ukraine, Harkiv region,
          Dmitrivska Str. 5/14

          ECONOMIC COURT OF HARKIV REGION
          61022, Ukraine, Harkiv region,
          Svobodi Square, 5, Derzhprom, 8th Entrance


KAZANTIP-D: Insolvency Manager Takes over Helm
----------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Kazantip-D (code EDRPOU 23079748) on August
16, 2005 after finding the private company insolvent.  The case
is docketed as B 24/212/05.  Mr. Leonid Talan has been appointed
liquidator/insolvency manager.

CONTACT:  KAZANTIP-D
          49089, Ukraine, Dnipropetrovsk region,
          Suvorov Str. 33/19

          Mr. Leonid Talan
          Liquidator/Insolvency Manager
          49000, Ukraine, Dnipropetrovsk region, a/b 158
          Phone: (0562) 92-53-18

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


LOZUVATSKA: Declared Insolvent
------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Lozuvatska (code EDRPOU 00851884) on August
8, 2005 after finding the open joint stock company insolvent.
The case is docketed as B 40/15/85/03.  Mr. Volodimir Vernigora
(License Number AA 779191) has been appointed
liquidator/insolvency manager.

CONTACT:  LOZUVATSKA
          53025, Ukraine, Dnipropetrovsk region,
          Krivij Rig district,
          Lozuvatka, Chkalov Str. 25

          Mr. Volodimir Vernigora
          Liquidator/Insolvency Manager
          50000, Ukraine, Dnipropetrovsk region,
          Krivij Rig, Sivolap Str. 44/72
          Phone: (0564) 72-19-65
                 (067) 915-61-96

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


LUGANSKLIFT: Court Appoints Temporary Insolvency Manager
--------------------------------------------------------
The Economic Court of Lugansk region commenced bankruptcy
supervision procedure on Lugansklift (code EDRPOU 03335988) on
July 21, 2005.  The case is docketed as 19/106 b.  Mr. R. Rachko
(License Number AA 520132) has been appointed temporary
insolvency manager.  The company holds account numbers
26006111530, 2600111153001 and 26040111530 at
JSCB Ukrkomunbank, MFO 304988.

CONTACT:  LUGANSKLIFT
          Ukraine, Lugansk region,
          Druga Chervonopraporna Str. 22 a

          Mr. R. Rachko
          Temporary Insolvency Manager
          Ukraine, Lugansk region,
          Pervomajsk, Dzerzhinskij Str. 11/73

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


REGINA: Files for Bankruptcy
----------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Regina (code EDRPOU 33184173) on August 16,
2005 after finding the private company insolvent.  The case is
docketed as B 24/213/05.  Mr. Leonid Talan has been appointed
liquidator/insolvency manager.

CONTACT:  REGINA
          49003, Ukraine, Dnipropetrovsk region,
          Kviring Str. 4

          Mr. Leonid Talan
          Liquidator/Insolvency Manager
          49000, Ukraine, Dnipropetrovsk region, a/b 158
          Phone: (0562) 92-53-18

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


TEHNOTORG: Succumbs to Insolvency
---------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against Tehnotorg (code EDRPOU 22161063) on July 11,
2005 after finding the limited liability company insolvent.  The
case is docketed as 19/133 (05).  Mr. O. Serebryakov (License
Number AB 216759) has been appointed liquidator/insolvency
manager.

CONTACT:  TEHNOTORG
          69082, Ukraine, Zaporizhya region,
          Avaliani Str. 7/4

          Mr. O. Serebryakov
          Liquidator/Insolvency Manager
          69035, Ukraine, Zaporizhya region,
          Mayakovskij Avenue 11
          Phone: 8 (0612) 26-06-21, 12-74-35

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


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


ACTIVE SECURITY: Calls in Liquidator
------------------------------------
A.K. Bhardwaj, Director of Active Security Services (UK) Limited,
informs that a resolution to wind up the company was passed at an
EGM held on Sept. 14 at 47-49 Green Lane, Northwood, Middlesex
HA6 3AE.  Ashok K Bhardwaj of 47-49 Green Lane, Northwood,
Middlesex HA6 3AE was appointed liquidator.

CONTACT:  ACTIVE SECURITY SERVICES (UK) LTD.
          Suite 104
          London
          NW10 7LQ
          Phone: 02089630101


AMAZING EVENTS: Creditors Meeting Set Next Week
-----------------------------------------------
Notice is hereby given, pursuant to paragraph 51 of Schedule B1
of the Insolvency Act 1986, that a Meeting of the Creditors of
Amazing Events Limited will be held at BDO Stoy Hayward, 4th
Floor, One Victoria Street, Bristol BS1 6AA, on 14 October 2005,
at 10:30 a.m., for the purposes of considering and, if thought
fit, approving the proposals of the Administrators for achieving
the aim of the Administration Order, and also to consider
establishing and, if thought fit, to appoint a Creditors'
Committee.  A person authorised under section 375 of the
Companies Act 1985 to represent a corporation must produce to the
Chairman of the Meeting a copy of the Resolution from which their
authority is derived.  The copy Resolution must be under seal of
the corporation, or certified by the Secretary of Director of the
Corporation as a true copy.  Please note that a Creditor is
entitled to vote only if he has delivered to the Administrators
at BDO Stoy Hayward, 4th Floor, One Victoria Street, Bristol BS1
6AA, not later than 12:00 noon on 13 October 2005 details in
writing of the debt claimed to be due from the Company, and the
claim has been duly admitted under the provisions of the
Insolvency Rules 1986 and there has been lodged with the
Administrators any proxy which the Creditor intends to be used on
his behalf.

G Randall, Joint Administrator

                            *   *   *

Amazing Events was formed in 1996 and is based at Coombe Lodge.
Visit http://www.amazingevents.co.uk/for more information.

CONTACT:  AMAZING EVENTS
          Coombe Lodge,
          Blagdon, Bristol BS40 7RG
          Phone: +44 (0) 1761 462080
          Fax: +44 (0) 1761 463316
          E-mail: info@amazingevents.co.uk

          BDO STOY HAYWARD
          Fourth Floor
          One Victoria Street
          Bristol BS1 6AA
          Phone: 0117 934 2800
          Fax: 0117 922 5191
          E-mail: graham.randall@numerica.biz


ASHWOOD UPHOLSTERY: Hires Administrator from Purnells
-----------------------------------------------------
Michelle Williams (IP No 9388) of Purnells was appointed
administrator of Ashwood Upholstery Company Limited (Company No
03064186) on Sept. 23.  The company manufactures upholstery.  AA
Whale is its managing director.

CONTACT:  ASHWOOD UPHOLSTERY CO. LTD.
          Unit 3 5 8
          Aberdare Business Park
          Aberdare CF44 8ER
          Mid Glamorgan
          Phone: 01685 883388

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


BEACHCASE GALVANISING: Hires Administrators from Moore Stephens
---------------------------------------------------------------
Mark Elijah Thomas Bowen and Nigel Price (IP Nos 8711, 8778) of
Moore Stephens Corporate Recovery were appointed joint
administrators of Beachcase Galvanising Limited (Company No
05129074) on Sept. 15.  The company is engaged in treating and
coating metals.

CONTACT:  MOORE STEPHENS CORPORATE RECOVERY
          Beaufort House, 94-96 Newhall Street,
          Birmingham B3 1PB
          Phone: 0121 233 2557
          Web site: http://www.moorestephens.co.uk


BOOKS FOR STUDENTS: Calls in PwC Administrators
-----------------------------------------------
Edward Mark Shires (IP No 7925) and Charles Hopkins (IP No 8365)
were appointed joint administrators of Books For Students Limited
(Company No 03273647) on Sept. 22.  The company's registered
office is at Bird Road, Heathcote, Warwick CV34 6TB.

BfS has been a leading book supplier to the schools and public
libraries sector for more than thirty years.  Visit
http://www.bfs.co.uk/for more information.

CONTACT:  BOOKS FOR STUDENTS LTD.
          Bird Road, Heathcote,
          Warwick CV34 6TB
          Phone: 01926 436436
          Fax: 01926 436437

          PRICEWATERHOUSECOOPERS LLP
          Donington Court
          Pegasus Business Park,
          Castle Donington, East Midlands DE74 2UZ
          Phone: [44] (1509) 604 000
          Fax:   [44] (1509) 604 010
          Web site: http://www.pwc.com

          PRICEWATERHOUSECOOPERS LLP
          Cornwall Court, 19 Cornwall Street,
          Birmingham B3 2DT
          Phone: [44] (121) 200 3000
          Fax:   [44] (121) 200 2464
          Web site: http://www.pwc.com


BOOTS GROUP: Merging with Alliance UniChem
------------------------------------------
The Boards of Alliance UniChem plc and Boots Group plc have
agreed the terms of a recommended merger to create Alliance
Boots, an international pharmacy-led healthcare group with
combined sales of over GBP13 billion.

This merger of equals builds on the existing strategies of
Alliance UniChem and Boots, combining their complementary skills
and businesses to:

(a) create Europe's leading retail pharmacy business comprising
    just under 3,000 retail outlets with a wholesale and
    distribution network serving over 88,000 outlets including:

    (i) a network of approximately 2,600 U.K. healthcare
        outlets, including two distinctly managed formats, which
        will be branded Boots, comprising approximately 1,500
        community pharmacies and approximately 800 destination
        health and beauty stores, most of which include a
        pharmacy.  In addition, the Group will have
        approximately 300 other retail outlets.  The Merger will
        allow improved healthcare offerings across the broader
        network of community and local pharmacies while
        continuing to support and develop the destination stores
        as the U.K.'s health and beauty expert;

   (ii) a wholesale network across 11 European countries,
        predominantly serving both independent pharmacies and
        Alliance Boots outlets; and

  (iii) enhanced opportunities for further retail pharmacy
        expansion in existing markets utilizing Alliance Boots'
        combined skills, brands and own label products.

(b) enhance international growth opportunities in new markets:

    (i) Alliance Boots has a pipeline of existing acquisition
        opportunities in new geographical markets for the
        expansion of both its retail pharmacy network and
        its wholesale and distribution activities; and

   (ii) Alliance Boots' acquisition skills, management
        expertise, internationally recognized brands and strong
        balance sheet are expected to enhance Alliance Boots'
        ability to access these new markets.

(c) deliver annual pre-tax cost savings of at least GBP100
    million by the fourth full year following completion of the
    merger by:

    (i) streamlining the combined Group's purchasing, logistics
        and wholesale network; and

   (ii) rationalizing corporate costs.

Alliance Boots also expects incremental revenue benefits from the
increased availability of its leading brands, its own label
products and the Boots Advantage Card across the larger network.
In addition, the Group will benefit from the application of
retail pharmacy and wholesale skills across the broader Group.

The merger will combine two complementary management teams with
Sir Nigel Rudd becoming Chairman of the Group and Richard Baker
becoming Chief Executive.  Stefano Pessina will be appointed
Executive Deputy Chairman and George Fairweather will be Group
Finance Director.

Merger Terms

The Exchange Ratio shall be calculated on the basis of the issued
share capital of Boots immediately prior to the posting of the
Merger Documentation so as to provide Alliance UniChem
Shareholders (on a fully diluted basis) with such number of New
Boots Shares as results in Boots Shareholders holding 50.2%, and
Alliance UniChem Shareholders holding (on a fully diluted basis)
49.8%, of the issued share capital of Alliance Boots.  The Merger
is pre-conditional, inter alia, on the disposal of BHI.  It is
intended that Boots will return by way of the Special Dividend
all post-tax disposal proceeds in excess of GBP400 million to
Boots Shareholders prior to the determination of the Exchange
Ratio for the Merger.

The Boards of Alliance UniChem and Boots each intends unanimously
to recommend the Merger to their respective shareholders.

The Merger will be implemented by way of the Merger Offer unless
the parties agree to implement it by way of the Scheme.

Boots has received an irrevocable undertaking to accept the
Merger Offer (or, as the case may be, to vote in favor of the
resolutions to effect the Scheme) from Stefano Pessina, the
Executive Deputy Chairman of Alliance UniChem in respect of
108,447,700 Alliance UniChem Shares in aggregate, representing
approximately 30% of Alliance UniChem's issued share capital.
This undertaking will cease to be binding in certain
circumstances as set out in Part II.

Following completion of the merger, Mr. Pessina will hold
approximately 15% of Alliance Boots, a holding he has indicated
he intends to retain for the long term.

Save for the Special Dividend, Alliance UniChem and Boots will
each retain their current dividend policies in respect of the
period prior to the completion of the merger.  Following the
merger, consistent with Alliance Boots' enhanced growth strategy,
it is expected that Alliance Boots will follow a progressive
dividend policy which balances returns to shareholders with the
need to retain sufficient funds to drive growth.  In setting its
initial dividend, it is expected that Alliance Boots will target
a dividend cover of 2.0-2.5 times.

The merger is also subject to certain other pre-conditions
including the obtaining of appropriate competition authority
clearances.

Dependent upon the position of the relevant competition
authorities, it is expected that the merger will be completed in
2006.

Sir Nigel Rudd, chairman of Boots, said: "This merger provides
both businesses with a unique opportunity to combine their
respective strengths to create an international force in pharmacy
retailing and distribution.  In this management team, I believe
we have the best of healthcare and retailing expertise to drive
growth and deliver substantial value to shareholders."

Paolo Scaroni, chairman of Alliance UniChem, said: "The Board of
Alliance UniChem believes that the combination with Boots
presents exciting opportunities to our shareholders and
employees.  We whole-heartedly recommend it to all our
stakeholders."

Richard Baker, chief executive of Boots, said: "(The merger) will
enable Boots to put the Chemist even more firmly at the heart of
our strategy.  With Alliance UniChem's distribution network and
proven international expertise, Alliance Boots will also have
exciting opportunities to take the trusted Boots brand and
products into new markets."

Stefano Pessina, executive deputy chairman of Alliance UniChem,
said: "The fast evolving healthcare markets around the world
provide the new group with a broad international stage upon which
we can deploy our combined operational and management skills.  We
at Alliance UniChem have significant experience of acquiring and
integrating healthcare businesses internationally.  The Merger
creates a platform to grow both our pharmacy and distribution
businesses and enhance our offering to the independent
pharmacist."

Goldman Sachs International is acting as financial adviser to
Boots.  UBS is acting as corporate broker to Boots.  Merrill
Lynch is lead financial adviser and joint corporate broker to
Alliance UniChem.  CSFB is acting as financial adviser and joint
corporate broker to Alliance UniChem.

CONTACT:  BOOTS GROUP PLC
          1 Thane Road
          Nottingham NG2 3AA
          Phone: 0115 950 6111
          Customer Service: 0845 070 80 90
          Web site: http://www.boots-plc.com

          GOLDMAN SACHS INTERNATIONAL
          Phone: +44 (0) 20 7774 1000
          Simon Dingemans
          Nick Harper
          FINSBURY
          Phone: +44 (0) 20 7251 3801
          James Murgatroyd
          Alice MacAndrew

          ALLIANCE UNICHEM PLC
          Phone: +44 (0) 1932 870 550
          George Fairweather
          Gerald Gradwell

          MERRILL LYNCH
          Phone: +44 (0) 20 7628 1000
          Richard Girling
          Kevin J. Smith

          UBS FINANCIAL SERVICES INC.
          1285 Avenue of the Americas
          New York, NY 10019
          Phone: 212-713-2000
          Fax: 212-713-9818
          Web site: http://financialservicesinc.ubs.com

          CSFB
          Phone: +44 (0) 20 7888 8888
          Philip Remnant
          Zachary Brech


BOOTS GROUP: Appoints New Chief Financial Officer
-------------------------------------------------
Boots Group plc has appointed Jim Smart to the Board as chief
financial officer.

Jim Smart (45) joined Boots in 2003 as group financial controller
and has, since May 2005, been acting chief financial officer.
Mr. Smart was educated at Edinburgh University and trained as an
accountant at Coopers & Lybrand.  Before Boots he was at Abbey
National plc for 15 years during which time he held a number of
senior finance and operational positions including group
financial controller, group finance director of First National
Bank and corporate resources director.

Sir Nigel Rudd, chairman of Boots Group plc, said: "I am
delighted that Jim has accepted our invitation to join the Board.
He has a very full agenda over the coming months and I know that
he will continue to do a great job."

Richard Baker, chief executive of Boots Group plc, said: "Jim has
been a tower of strength as acting chief financial officer, and I
too am delighted that he has joined the Board."

                        About the Company

Boots is a health and beauty company with operations in retail,
manufacturing and distribution.  Boots sells its products in 130
countries and, excluding Boots Healthcare International, employs
approximately 65,000 people globally.  Boots operates over 1,400
health and beauty stores in the U.K. with an aggregate selling
area in excess of 647,000 square meters.  The group sells a wide
range of products under the Boots brand and also owns a number of
internationally recognized brands such as No 7, Soltan and
Botanics.  Boots' international division, BRI, operates more than
400 implants in nine countries as well as over 80 owned stores in
Asia.  On 7 April 2005, Boots announced the intended sale of BHI,
its consumer healthcare business.

For the financial year ended 31 March 2005, Boots reported
turnover of GBP5,469.1 million and generated group operating
profit before exceptional items of GBP501.7 million, profit
before taxation of GBP427.6 million and basic earnings per share
before exceptional items of 45.7 pence.  Boots reported net
assets of GBP1,610.5 million as at 31 March 2005.

In September, Boots admitted that trading conditions have been
difficult throughout the first half with consumer spending
softening further over the last quarter.  It plans to focus on
its trading margin, costs and working capital in the second half.

The difficult market conditions have led to like-for-like sales
below the rate planned for the full year.  Reduced consumer
spending on replacement eyewear and price deflation following the
deregulation of contact lens sales, coupled with the disruption
to the Boots Opticians business from the integration into Boots
The Chemist adversely impacted the results, and these trends are
expected to continue.

Personnel changes in store are expected to complete in the next
quarter and a robust plan is in place to drive sales with a new
and up weighted advertising campaign and the introduction of new
designer ranges.

CONTACT:  BOOTS GROUP PLC
          1 Thane Road
          Nottingham NG2 3AA
          Phone: 0115 950 6111
          Customer Service: 0845 070 80 90
          Web site: http://www.boots-plc.com

          ALLIANCE UNICHEM PLC
          Phone: +44 (0) 1932 870 550
          George Fairweather
          Gerald Gradwell


BOOTS GROUP: Fitch Lowers Rating to 'BBB+'
------------------------------------------
Fitch Ratings has downgraded U.K. health and beauty retailer
Boots Group plc's Senior Unsecured rating to 'BBB+' from 'A-',
and affirmed the Short-term 'F2' rating.  The ratings remain on
Rating Watch negative.

The downgrade follows the announcement that Boots is to merge
with U.K.-based pharmacy wholesaler and retailer, Alliance
UniChem Plc to form Alliance Boots Plc with a turnover of GBP13.8
billion from nearly 2,700 pharmacies and operating profit of
GBP711 million.  Boots shareholders will hold 50.2% of the new
entity and Alliance Unichem shareholders 49.8%.

While this merger has been described by the parties as a merger
of equals it would appear that Boots have retained the control
with both Chairman and Chief Executive coming from Boots while
the Deputy Chairman and Finance Director are from Alliance.  The
merger is conditional upon the sale of Boots Healthcare
International and is subject to regulatory and shareholder
approval.

Jonathan Pitkanen, Fitch retail analyst, said: "The announcement
that Boots is becoming a more pharmacy-led retailer appears to
confirm that Boots has had to accept that it cannot compete in
the long-term with the major supermarket chains on its non
pharmacy product range.

"While much has been made of the increased supermarket
competition within pharmacy as a result of its deregulation, it
is unlikely that supermarkets will be able dominate the sector
due to restrictions on store size as well as pharmacy opening
times."

The rationale for the merger is based on a belief that top-line
growth will be generated while annual cost savings of some GBP100
million can be achieved by year four.  The merger will also
result in greater geographical diversification for the group with
pharmacy operations in seven European countries.  There will be a
cash exceptional cost of GBP53 million as a result as well as
additional capital expenditure of GBP7 million.  This process
will entail a significant amount of execution risk.  The
resultant group will see 56% of its turnover but only 20% of its
operating profits generated by its wholesale operations,
reflecting the low margins prevalent in this business.

Boots indicated that GBP400 million of the proceeds from the sale
of BHI will be retained by Boots, the remainder, estimated at
least GBP800 million will be returned to shareholders.  In the
announcement, Boots appeared to indicate that its existing share
buyback program of GBP350 million may be curtailed.  This is as a
result of the growth expected from the enlarged entity, the
progressive dividend policy as well as from its wish to maintain
a strong balance sheet with an investment grade credit rating.

A number of challenges remain outstanding.  Fitch considers it
unlikely that this merger will on its own solve Boots' problems
in its core U.K. retail market.  The incoming Finance Director
indicated that private placement debt repayment by Alliance would
be triggered by the merger.  It must also be questioned whether
existing banking facilities for both organizations will have to
be renegotiated resulting in a potential short-term liquidity
issue.  Boots bondholders remain exposed due to largely standard
documentation.

Irrespective of the exact structure of the new group, retail
trading in the U.K. remains difficult as underlined by the Boots
H106 trading statement, which showed like-for-like sales decline
1.3% at Boots the Chemists, while Alliance has also conceded that
U.K. trading in particular has been below expectations.

Fitch has calculated that pro-forma lease-adjusted net
debt/EBITDAR for the enlarged group will be in the region of 2.8x
(FY05: 2.5x, FY04:1.9x) while lease-adjusted interest cover will
approach 4x (FY05: 4x, FY04: 4.6x).  In addition to the
on-balance sheet debt and property related operating-lease
obligations, Alliance had at FYE04 GBP400 million of non-recourse
receipts from its securitization program, which would be reported
as financial liabilities under IFRS.

CONTACT:  FITCH RATINGS
          Jonathan Pitkanen, London
          Phone: +44 (0)20 7417 4201
          Olivier de Combarieu, Paris
          Phone: +33 1 44 29 91 26
          Web site: http://www.fitchratings.com

          Media Relations
          Julian Dennison, London
          Phone: +44 20 7862 4080

          BOOTS GROUP PLC
          1 Thane Road
          Nottingham NG2 3AA
          Phone: 0115 950 6111
          Customer Service: 0845 070 80 90
          Web site: http://www.boots-plc.com

          ALLIANCE UNICHEM PLC
          Phone: +44 (0) 1932 870 550
          George Fairweather
          Gerald Gradwell


BOOTS GROUP: On Watch Negative After Merger News
------------------------------------------------
Standard & Poor's Ratings Services placed its 'BBB+' long-term
corporate credit rating on the U.K.'s leading health and beauty
retailer Boots Group PLC on CreditWatch with negative
implications.  This follows the group's announcement of a planned
merger with Alliance UniChem PLC (not rated), a European pharmacy
retailer and wholesaler, and reflects the resulting financial
uncertainty.  The 'A-2' short-term rating was also placed on
CreditWatch with negative implications.

"The CreditWatch placement is a result of Boots' proposed merger
of equals with Alliance UniChem to create a group with combined
sales of more than GBP13 billion and a network of nearly 2,700
pharmacies in Europe," said Standard & Poor's credit analyst
Sunita Kara.

"From a business risk perspective, the negative implications
reflect that the margins of the enlarged group would be diluted
by Alliance UniChem's strength in low-margin wholesale
operations, and the presence of some integration risks," added
Ms. Kara.

From a financial risk perspective, the negative implications
reflect the uncertainty for Boots' financial risk profile and
financial policy, and weaker pro forma debt protection measures.
Initially, lease-adjusted funds from operations to net debt
(adjusted for leases and pensions) could deteriorate below
previous expectations of more than 30%.

These negative factors are partially offset by an increased share
of the U.K. pharmacy market, which has positive long-term
fundamentals; increased geographical diversity, with presence in
seven European countries in pharmacy and 11 in wholesale;
combined purchasing; and cost savings estimated to total GBP100
million in four years time.

Standard & Poor's aims to provide an indication of the likely
rating outcome after meeting with management of the enlarged
group.  The discussion will focus on the rationale for the
transaction and strategic direction for the group including
ambitions for expansion, adherence to a chosen financial policy,
and the evolution of debt protection measures.  The ratings could
be affirmed at the current level or downgraded.  Standard &
Poor's notes that the enlarged group has a strong focus on
shareholder value, but has stated its aspirations for an
investment-grade corporate credit rating.

The ratings will remain on CreditWatch until there is clarity on
the main impediments, such as competition authority clearance and
disposal of Boots Healthcare International.

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:  BOOTS GROUP PLC
          1 Thane Road
          Nottingham NG2 3AA
          Phone: 0115 950 6111
          Customer Service: 0845 070 80 90
          Web site: http://www.boots-plc.com

          ALLIANCE UNICHEM PLC
          Phone: +44 (0) 1932 870 550
          George Fairweather
          Gerald Gradwell


BUILDING AND STRUCTURAL: Creditors Meeting Set Next Week
--------------------------------------------------------
In accordance with paragraph 51 of Schedule B1 to the Insolvency
Rules 1986, notice is hereby given that a Meeting of Creditors in
Building And Structural Services Limited will be held at Grant
Thornton UK LLP, 1st Floor, Royal Liver Building, Liverpool L3
1PS, on 7 October 2005, at 11:00 a.m., to consider my statement
of proposals and to consider establishing a committee of
Creditors.  If no Creditors' Committee is formed at this Meeting,
then Resolutions may be taken specifying the terms on which the
Joint Administrators are to be remunerated and disbursements
charged.  In order for Creditors to be able to vote details of
their claims must be lodged at Grant Thornton UK LLP, 1st Floor,
Royal Liver Building, Liverpool L3 1PS, not later than 12:00 noon
on 6 October 2005.  Under Rule 2.38(1) of the Insolvency Act
1986, proxies may be lodged at any time prior to the commencement
of the Meeting.

L Ross, Joint Administrator

                            *   *   *

Building and Structural Services Limited was established in 1991.
It offers maintenance and construction services organization,
providing secure employment to approximately 120 directly
employed operatives and staff.  Building and Structural Services
is based in Merseyside.  Visit http://www.designdude.biz/bss.html
for more information.

CONTACT:  BUILDING AND STRUCTURAL SERVICES LIMITED
          Unit C2 Kingfisher Business Park
          Hawthorne Road, Bootle
          Liverpool L20 6PF
          Phone: 0151.922.3586
          Fax: 0151.922.5673
          E-mail: info@bsslimited.co.uk

          GRANT THORNTON
          1st Floor,
          Royal Liver Building,
          Liverpool L3 1PS
          Web site: http://www.grant-thornton.co.uk


CALDER COMPONENTS: Owners Decide to Wind up Business
----------------------------------------------------
Calder Components (Heckmondwike) Ltd. informs that a resolution
to wind up the company was passed at an EGM held on Sept. 15 at
The Old Bridge Hotel, Holmfirth, Huddersfield HD9 1DA,.  William
Clive Swindell of Yorkshire House, 7 South Lane, Holmfirth,
Huddersfield HD9 1HN was appointed liquidator.

CONTACT:  CALDER COMPONENTS (HECKMONDWIKE) LTD.
          127a Westgate, Heckmondwike, West Yorkshire WF16 0EW
          Phone: 01924411089


CASBURT LIMITED: Hires Poppleton & Appleby Administrator
--------------------------------------------------------
Ian M. Rose and Robert M. Young (IP Nos 9144, 7875) of Poppleton
& Appleby were appointed joint administrators of Casburt Limited
(Company No 01064196) on Sept. 16.  The company's registered
office is at Poppleton & Appleby, The Old Barn, Caverswall Park,
Caverswall Lane, Stoke-on-Trent, Staffordshire ST3 6HP.

Casburt Limited has been in existence in one form or another
since 1947.  The original company undertook much of the
pioneering work in ceramic drying, installing hundreds of dryers
in the 1960s.  Peter Caswell is its managing director.  Visit
http://www.casburt.com/for more information.

CONTACT:  CASBURT LTD.
          Cinderhill Industrial Estate
          Stoke on Trent ST3 5LB
          Staffordshire
          Phone: 01782 332511
          Fax: 01782 593181

          THE P&A PARTNERSHIP
          The Old Barn, Caverswall Park, Caverswall Lane
          Stoke on Trent ST3 6HP
          Phone: (0114) 275 5033
          Fax: (0114) 276 8556
          E-mail: info@poppletonappleby.co.uk
          Web site: http://www.thepandapartnership.com


CHAPMAN GRAPHICS: Business Collapses
------------------------------------
D. K. Garwood, Chairman of Chapman Graphics Corporation Limited,
informs that a resolution to wind up the company was passed at an
EGM held on Sept. 14 at 60-62 High Street, Harpenden,
Hertfordshire AL5 2SP.  Anthony David Kent of Maidment Judd,
60-62 High Street, Harpenden, Hertfordshire AL5 2SP was appointed
liquidator.

CONTACT:  CHAPMAN GRAPHICS CORPORATION LIMITED
          Suite 7, Second Floor
          Rainham House
          Manor Way
          Rainham
          Essex
          RM13 8RH
          Rainham, Essex
          Phone:  (01708) 558111
          Fax: (01708) 521777

          CONTACT:  MAIDMENT JUDD
          Web site: http://www.maidmentjudd.com/


CITY & ESSEX: Travel Firm Liquidates
------------------------------------
M. R. Little, Chairman of City & Essex Travel Limited, informs
that a resolution to wind up the company was passed at an EGM
held on Sept. 15 at the offices of David Rubin & Partners, Pearl
Assurance House, 319 Ballards Lane, London N12 8LY.  Lane Bednash
of David Rubin & Partners, Pearl Assurance House, 319 Ballards
Lane, London N12 8LY was appointed liquidator.

CONTACT:  CITY & ESSEX TRAVEL LIMITED
          7 Budge Row, London, EC4N 8EL
          Phone: 020 7329 4449
          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


CLYDESDALE BANK: To Ensure Branch Closures Won't Affect Service
---------------------------------------------------------------
Aberdeenshire councilors received assurance from Clydesdale Bank
last month that it will try to minimize the effects of the
closure of 18 Northeast branches, The Buchan Observer says.

A group of councilors met with bank representatives toward the
end of September.  Councillor Alison McInnes, chair of the
infrastructure services committee, said his party raised the
issue of the continuation of ATMs, services for the elderly and
training for people in rural communities so they can use Internet
and telephone banking services.

Council leader Audrey Findlay has proposed that Clydesdale Bank
develop links with the rural partnerships in Aberdeenshire to
discuss the closure of 18 banks before the end of 2005, the
report said.  The closure is part of a plan announced by
Clydesdale Bank's parent National Australia Bank in May to shut
down a total of 60 offices.

The branches to be closed are in Aberchirder, Ballater, Cruden
Bay, Echt, Fyvie, Inverbervie, Kemnay, Kintore, Laurencekirk, New
Deer, Oldmeldrum, Portsoy, Rhynie, Strathdon, Strichen, Tarland,
Tarves, and Torphins.  The bank has been losing clients due to
increasing popularity of Internet and telephone banking.

In December, the bank announced a 44% drop in profits to GBP90
million.  It slashed interim dividend to NAB and scrapped final
dividend.  Clydesdale's profit has been in decline for the past
three years.  It is performing poorly at a time rival HBOS and
Royal Bank of Scotland are flourishing.

CONTACT:  CLYDESDALE BANK
          Banking Hall
          30 St. Vincent Place
          Glasgow G1 2HL
          Phone: 0141 951 7000
          Web site: http://www.cbonline.co.uk


DANKA BUSINESS: Expands Outsourcing Deal with MCI
-------------------------------------------------
Danka Business Systems plc has disclosed the next phase of its
Vision 21 initiative by broadening its existing relationship with
MCI, Inc. in the United States.  The agreement with MCI to
outsource additional back office functions will enable Danka to
further reduce costs, and improve business practices.

In July, Danka announced a five-year agreement to outsource the
balance of its U.S. information technology (IT) operations to
MCI, including core network services, IT operations and
applications support, Wide Area Network, Local Area Network, IP
services, servers, desktops and phone systems.

Under this phase of Danka's Vision 21 initiative, MCI will
provide managed, optimized back office and call center functions
that will fully integrate with the existing U.S. information
technology (IT) operations already outsourced to MCI.  As part of
this agreement, Danka will transition more than 250 employees to
MCI and its application support provider Titan Technology
Partners.

Todd Mavis, Danka's chief executive officer, said: "This
broadened agreement with MCI is designed to further streamline
business operations, and reduce call center costs.  This is a
logical next step in our efforts to create a more customer
centric platform, improve our business processes and provide key
enablers to our Manage Print Services strategy."

                        About the Company

Headquartered in London and St. Petersburg, Florida, Danka
Business Systems plc is an independent provider of enterprise
imaging systems and services.  With a worldwide workforce of
9,500, the company delivers value to clients worldwide by using
its expert technical and professional services to implement
effective document information solutions.

In July, Danka Business Systems plc reported first-quarter
revenue of GBP166.8 million, gross margins of 33.7% and a loss
from continuing operations before tax and finance costs of
GBP2.3 million, including a cost restructuring charge of GBP3.0
million.

For the full year, Danka reported turnover of GBP668.2 million
and operating losses of GBP22.8 million excluding exceptional
items.  Danka's fourth quarter turnover was GBP158.6 million and
operating losses were GBP27.1 million excluding exceptional
items.  The results include a GBP9.4 million provision for U.S.
trade debtors in the fourth quarter.  Including the exceptional
restructuring charges of GBP5.1 million and GBP4.0 million, the
Group reported operating losses of GBP27.9 million for the full
year and GBP31.0 million for the fourth quarter respectively.

CONTACT:  DANKA BUSINESS SYSTEMS PLC
          1230 Arlington Business Park
          Theale
          West Berkshire RG7 4TX, United Kingdom
          Phone: +44-118-903-2163
          Web site: http://www.danka.com


EQUITABLE LIFE: Withdraws Claims Against Two Former Directors
-------------------------------------------------------------
Equitable Life has abandoned a negligence claim against two
former directors, said Reuters.  In return, the two have agreed
to pay for their own legal fees.

The company said: "(We have) reached settlement terms with Peter
Martin and Shaun Kinnis."  Mr. Martin was a former non-executive
director, while Mr. Kinnis served as director for sales and
marketing from 1989 to 1997.

The insurer added it had withdrawn a portion of its claim against
former Chief Executive Chris Headdon, who also had served as
reporting actuary at the group.  Equitable Life, however, intends
to pursue its negligence claims against Mr. Headdon, along with
12 others, although talks are said to be ongoing.

A source familiar to the negotiations revealed the insurer had
also offered a similar settlement to the 13 remaining directors,
but they demanded that Equitable pay their legal bills.

Equitable Life was earlier reported to have postponed its GBP1.7
billion lawsuit against former directors to pave the way for
possible settlement.  It was also believed to be a move to avoid
further costs.  The highly technical trial started in April,
involving a number of witnesses and lawyers.

Last month, the insurer also called off its GBP700 million action
against former auditor Ernst & Young, which left it facing angry
policyholder groups, and legal costs of GBP30 million.

The company had claimed that had it been made aware of its true
financial position in 1998, the board would have sold the
company, earning over GBP1 billion in the process.  In 2000, the
House of Lords forced it to recognize guarantees on policies sold
in the 1970s and 1980s, which caused Equitable huge losses.

CONTACT:  THE EQUITABLE LIFE ASSURANCE SOCIETY
          Walton Street
          Aylesbury
          Buckinghamshire HP21 7QW
          United Kingdom
          Phone: +44-870-901-0052
          Web site: http://www.equitable.co.uk


ESNA LIMITED: Files for Liquidation
-----------------------------------
E. Stewart, Chairman of Esna Limited, informs that resolutions to
wind up the company were passed at an EGM held on Sept. 14 at
Regus, Lakeside House, 1 Furzeground Way, Stockley Park East,
Uxbridge, Middlesex UB11 1BD.

Robert Day of Robert Day and Company Limited, Garfield, Church
Lane, Oving, Aylesbury, Buckinghamshire HP22 4HL was appointed
liquidator.

CONTACT:  ROBERT DAY AND COMPANY
          Garfield Church Lane Oving
          Aylesbury
          HP22 4HL
          Phone: 01296 641513


FEDERAL-MOGUL: Inks Pacts to Exit Bankruptcy
--------------------------------------------
Federal-Mogul Corporation (OTCBB:FDMLQ) has filed regulatory
reports with the Securities and Exchange Commission on the
agreements summarized in the U.S. Bankruptcy Court for the
District of Delaware, which agreements include a settlement
agreement among the Company, the Plan Proponents and the U.K.
Administrators, which would settle all outstanding matters in
dispute among them.  In addition, the Asbestos Committee also
agreed that the Asbestos Trust would satisfy indemnification
obligations to the Company by delivering a portion of the trust's
equity back to the Company.

Concurrently, with the settlement agreement, The Asbestos
Committee requested that Mr. Icahn provide the Asbestos Trust,
upon the effectiveness of the Plan of Reorganization, with
immediate liquidity.  In order to facilitate Federal-Mogul's
emergence from Chapter 11, Mr. Icahn agreed that one of his
entities would provide the Asbestos Trust its desired liquidity
by either exercising an option, after the effective date of the
Plan, to acquire the Asbestos Trust's position in Federal-Mogul
or, if it did not exercise the option, by providing certain
financing to the Trust.

Federal-Mogul Chairman, President and Chief Executive Officer
Jose Maria Alapont said the agreements represent one of the most
significant steps toward emergence from Chapter 11 in the U.S.
and Administration in the U.K.  "We are pleased with the support
and collaboration in the recent months from Mr. Icahn, our Plan
Proponents and stakeholders.  We will welcome Mr. Icahn's
potential increased stake in the emerging and reorganized
Company."

Mr. Icahn stated that he was extremely pleased by the settlement
agreement among the parties and was gratified that he was able to
lend assistance to the settlement process.  He further stated
that he looked forward to the Company's early emergence from
Chapter 11, especially at a time when it appeared that other
companies in the auto parts industry were moving in the opposite
direction.

A full text of the Term Sheet providing for the creation of a
Trust is available for free at
http://ResearchArchives.com/t/s?209

A full text of the pact between Federal-Mogul and T&N Limited is
available for free at http://ResearchArchives.com/t/s?20a

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is one of the world's largest
automotive parts companies with worldwide revenue of some US$6
billion.  The Company filed for chapter 11 protection on Oct. 1,
2001 (Bankr. Del. Case No. 01-10582).  Lawrence J. Nyhan Esq.,
James F. Conlan Esq., and Kevin T. Lantry Esq., at Sidley Austin
Brown & Wood, and Laura Davis Jones Esq., at Pachulski, Stang,
Ziehl, Young, Jones & Weintraub, P.C., represent the Debtors in
their restructuring efforts.  When the Debtors filed for
protection from their creditors, they listed US$10.15 billion in
assets and US$8.86 billion in liabilities.  At Dec. 31, 2004,
Federal-Mogul's balance sheet showed a US$1.925 billion
stockholders' deficit.  At Mar. 31, 2005, Federal-Mogul's balance
sheet showed a US$2.048 billion stockholders' deficit, compared
to a US$1.926 billion deficit at Dec. 31, 2004.  Federal-Mogul
Corp.'s U.K. affiliate, Turner & Newall, is based at Dudley Hill,
Bradford.

CONTACT:  TURNER & NEWALL LIMITED
          Manchester International Office
          Centre Styal road
          Manchester M22 5TN


FIELD TECH: Appoints Clarke Bell Administrator
----------------------------------------------
John Paul Bell (IP No 8608) of Clarke Bell was appointed
administrator of construction company Field Tech Limited (Company
No 03920110) on Sept. 19.  The firm's registered office is at
Parsonage Chambers, 3 The Parsonage, Manchester M3 2HW.

CONTACT:  FIELD TECH LTD.
          Sportsman Farm, Hollywood Road,
          Stockport, Cheshire SK6 5LR
          Phone: 01614845488

          CLARKE BELL
          Parsonage Chambers
          3 The Parsonage
          Manchester
          Greater Manchester M3 2HW
          Phone: 0161 907 4044
          Fax: 0161 907 4086
          E-mail: clarkebell@mac56.com


FIRETABLE LIMITED: Names Leonard Curtis Liquidator
--------------------------------------------------
M. Jaggan, Director of Firetable Limited, informs that a
resolution to wind up the company was passed at an EGM held on
Sept. 23 at Leonard Curtis & Co, One Great Cumberland Place,
Marble Arch, London W1H 7LW.

N. A. Bennett of Leonard Curtis & Co., One Great Cumberland
Place, Marble Arch, London W1H 7LW was appointed liquidator.

CONTACT:  FIRETABLE LTD.
          Langar Road
          Barnstone
          Nottingham
          Nottinghamshire
          NG13 9GH
          Phone: 08708553397
          Fax: 08712100225
          Email: info@firetable.com

          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


FURNITURELAND HOLDINGS: Ernst & Young Administrators Move in
------------------------------------------------------------
Company Names:  Furnitureland Holdings Limited
                (Company No 01941747)

                Furnitureland Limited
                (Company No 01110050)

Alan Michael Hudson and Margaret Elizabeth Mills (IP Nos 9200 and
5318) of Ernst & Young LLP were appointed administrators of these
companies on Sept. 22.  The company's registered office is at One
More London Place, London SE1 2AF.

Furnitureland Holdings Limited is a holding company, trading
under Furnitureland Limited.  Furnitureland Limited has for some
time struggled in the face of increasing competition and, more
recently, weaker retail trading as U.K. consumer demand declines.
Furnitureland Limited operates from 28 stores and employs around
500 people in total.

CONTACT:  FURNITURELAND HOLDINGS LIMITED
          Web site: http://www.furnitureland.co.uk/

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


GLOVER ROPES: Names Tenon Recovery Liquidator
---------------------------------------------
R. Galloway, Chairman of Glover Ropes Ltd., informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 12 at Express Holiday Inn M1 Junction 39, Denby Dale Road,
Wakefield WF4 3BB.

Charles M. Brook and Martin A. Shaw both of Tenon Recovery, 100
Wakefield Road, Lepton, Huddersfield HD8 0DL were appointed
liquidators.

The company makes basic iron and steel.

CONTACT:  GLOVER ROPES LTD.
          The Ropeworks
          Egmont St
          Mossley, Ashton-under-Lyme
          Lancs, United Kingdom, OL5 9NE
          Phone: +44 1457 832444
          Fax: +44 1457 835675


GRAYOAK LTD.: Goes into Liquidation
-----------------------------------
The Bristol District Registry issued a winding-up order against
Grayoak Ltd. on Sept. 21.  The winding-up petition was filed July
21.

Grayoak Ltd. is into custom software development, assisting its
clients in areas like integration of Microsoft Office products
and large scale E-Commerce projects.  Visit
http://www.grayoak.co.ukfor more information.

CONTACT:  GRAYOAK LTD.
          9 Silver Street Lane
          Trowbridge,
          Wilts BA14 0JN
          Phone: 01225 352010
          Fax: 01225 352010
          Web site: http://www.grayoak.co.uk

          Official Receiver
          4th Floor, 100 Victoria Street,
          Bristol, BS1 6BD
          Phone: 01179 279515
          Fax: 01179 275299


HYDRAQUIP SERVICES: EGM Passes Winding-up Resolutions
-----------------------------------------------------
A. W. Crompton, Chairman of Hydraquip Services Ltd., informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 13 at St Petersgate, Stockport, Cheshire SK1 1EB.

Vincent A. Simmons, Bennett Verby, 7 St Petersgate, Stockport,
Cheshire SK1 1EB was appointed liquidator.

CONTACT:  HYDRAQUIP SERVICES LTD.
          Windmill Lane Industrial Estat, Denton, Manchester M34
          3RB
          Phone: 01613206500


INSTEM TECHNOLOGIES: Administrators Take over Firm
--------------------------------------------------
Debbie Marie Young and William Kenneth Dawson (IP Nos 009371 and
008266) of Deloitte & Touche LLP were appointed joint
administrators of Instem Technologies Limited (Company No
3548213) on Sept. 21.  The company's registered office is at
Diamond Way, Stone Business Park, Stone, Staffordshire ST15 0SD.

CONTACT:  INSTEM TECHNOLOGIES LTD.
          Emerald Place, Emerald Way
          Stone Business Park
          Stone ST15 0SR
          Staffordshire
          Tel: 01785 616666
          Fax: 01785 616700
          E-mail: []
          Web site: http://www.instem-tech.co.uk/

          DELOITTE & TOUCHE
          PO Box 500
          201 Deansgate
          Manchester
          Greater Manchester M60 2AT
          Phone: 0161 832 3555
          Fax: 0161 829 3806
          E-mail: bill.dawson@deloitte.co.uk


INSTEM TECHNOLOGIES: Business for Sale
--------------------------------------
Debbie Young and Bill Dawson of Deloitte, Joint Administrators,
offer for sale the business and assets of Instem Technologies
Ltd.

The group is a contract manufacturer of electronic components and
operates from leasehold premises in Stone, Staffordshire.

Features:

(a) Plant and Machinery for use in the manufacture of electronic
    components;

(b) Furniture, fittings and chattel assets;

(c) 112 Employees;

(d) 52,746 square feet of leasehold premises; and

(e) Goodwill, customer contacts, stock and work in progress.

CONTACT:  DELOITTE & TOUCHE LLP
          Athene Place
          66 Shoe Lane
          London EC4A 3BQ
          Phone: 00 44 (0) 207 936 3000
          Fax: 00 44 (0) 207 779 4001
          Web site: http://www.deloitte.com
          Contact:
          Julian Heathcote
          Phone: 0161 455 8761

          Vicky Cooke
          Phone: 01785 616666


INVENSYS PLC: Completes Sale of Lambda Unit to TDK
--------------------------------------------------
Further to the announcement made on 19 July 2005, Invensys plc
confirms that the sale of its Lambda operations to TDK
Corporation for a gross cash consideration of US$235 million was
completed as planned at close of business London time on 30
September 2005.

                        About the Company

Invensys plc, headquartered in London, is a global automation,
controls and process solutions Group.  It is made up of five
businesses: Process Systems, APV, Eurotherm, Rail Systems and
Controls.  It is listed on the London Stock Exchange.  It has
35,000 employees working in 60 countries.

The company's revenue from continuing businesses for the three
months to 30 June 2005 was GBP577 million.  Group loss for the
period was GBP42 million.  These results have come a long way
from Invensys' troubled past, which saw it report about GBP3.28
billion in half-year debt, and forced it to cut over 6,000 jobs
as its U.S. and manufacturing markets declined.

Last year, Invensys launched a GBP2.7 billion refinancing plan to
repay or cash collateralize approximately GBP1.5 billion of
existing indebtedness, to establish an escrow account of
approximately GBP576 million to fund certain identifiable legacy
liabilities of the company, to pay fees associated with the
transaction and for general corporate purposes.

The program includes raising approximately GBP470 million of
equity, GBP650 million of high yield bonds and GBP1.6 billion of
senior credit facilities.  In August, the company said it is
nearing the end of a disposal program, which halved the size of
its business and kept it from credit default.

CONTACT:  INVENSYS PLC
          Invensys House, Carlisle Place
          London SW1P 1BX
          Phone: +44-20-7834-3848
          Fax: +44-20-7834-3879
          Web site: http://www.invensys.com


JARVIS PLC: Sets Meeting to Tackle Incentive Plan, Share Schemes
----------------------------------------------------------------
Jarvis plc has posted a circular to its shareholders convening an
Extraordinary General Meeting to follow the Annual General
Meeting convened for Wednesday 19 October 2005 to approve a
short-term management incentive plan and amendments to existing
share schemes.

Further details of the proposed management incentive plan and
proposed amendments are set out in the circular.

Copies of the circular have been sent to the FSA Document Viewing
Facility pursuant to Listing Rule 9.6.1 and are also available at
the Company's registered office until the date of the EGM.

                        About the Company

Jarvis plc operates in a number of markets delivering solutions
for the public sector, specifically rail services, road
maintenance and products, and plant hire operations.  Based in
York, Jarvis has over 3,000 employees across a nationwide network
of facilities.

With the Admission of the Placing Shares on Sept. 29, it has
completed its financial restructuring plan that was announced on
27 May 2005 and approved by Shareholders on 4 August 2005.  The
restructuring involved GBP378 million of the Company's
liabilities exchanged for new equity; GBP50 million of new equity
capital raised through a Placing and Open Offer; and GBP38.5
million of Additional Funding Facilities secured.

The Directors believe that the successful completion of the
restructuring announced on 12 July and the continuation of the
Group's strategy of focusing on the core businesses of Rail Plant
and Road, aligned with further cost saving measures and exit from
or stabilization of the non core activities of construction and
FM, will provide a much improved base from which to develop the
business.

CONTACT:  JARVIS PLC
          Meridian House
          The Crescent
          York
          YO24 1AW
          Phone: +44-20-7017-8000
          Fax: +44-20-7017-0083
          Web site: http://www.jarvisplc.com


JAVELIN COMPUTERS: Files for Liquidation
----------------------------------------
A. Sadiq, Director of Javelin Computers Ltd., informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 19 at Business Development Centre, Eanam Wharf, Blackburn,
Lancashire BB1 5BL.

Gagen Dulari Sharma of Sharma & Co., 50 Newhall Street,
Birmingham B3 3QE. was appointed liquidator.

CONTACT:  JAVELIN COMPUTERS LTD.
          Javelin House, 3 Greenbank Business Park, Dyneley Road
          Greenbank Business Park
          Blackburn
          BB1 3AB Lancashire
          Phone: 01254 505505
          Fax: 01254 691466
          Web site: http://www.javelincomputers.com

          SHARMA & CO.
          50 Newhall Street
          Birmingham
          West Midlands B3 3QE
          Phone: 0121 248 5007
          Fax: 0121 248 5010
          E-mail: gagen@sharmaandco.com


LOCAL WELLNESS: Business Fails
------------------------------
D. Bennett, Chairman of Local Wellness Clubs Limited, informs
that resolutions to wind up the company were passed at an EGM
held on Sept. 14 at the offices of Atherton Bailey LLP, 3-4 The
Courtyard, East Park, Crawley, West Sussex RH10 6AG.

Malcolm P Fillmore and Ranjit Bajjon of Atherton Bailey LLP, 3-4
The Courtyard, East Park, Crawley, West Sussex RH10 6AG were
appointed Joint Liquidators.

The appointment was confirmed at a Meeting of Creditors held on
the same day.

CONTACT:  LOCAL WELLNESS CLUBS LTD.
          11 Walton Drive, Horsham, West Sussex RH13 6RQ
          Phone: 01403-210262


MARKET REACH: Call Center Winds up
----------------------------------
A call center in Plymouth has gone into liquidation, leaving
angry workers without pay for the coming weeks, Western Daily
Press reports.

Market Reach, based in North Quay House, Coxside, is currently
being sold by KPMG, which said the staff are still officially
employed.  It is selling the business as a going concern.

About 25 former staff rallied last week to protest the way they
were informed of their layoff.  They said they were not sent a
formal letter.  They were laid off a day before payday and will
not be paid for the last six weeks.  About 150 staff were made
redundant.

CONTACT:  MARKET REACH LTD.
          North Quay House, North Quay
          Plymouth, Devon PL4 0RA
          Phone: 01752273679

          KPMG
          Plym House
          3 Long Bridge Road
          Marsh Mills
          Plymouth PL6 8LT
          Phone: (01752) 632100
          Fax: (01752) 632110
          Web site:  http://www.kpmg.co.uk/


MAYDAY GROUP: Creditors to Meet Friday
--------------------------------------
Notice is hereby given, pursuant to paragraph 22 of Schedule B1
of the Insolvency Act 1986, that a Meeting of Creditors of Mayday
Group Limited will be held at Hendon Hall, Ashley Lane, off
Parson Street, Hendon, London NW4 1HF, on 7 October 2005, at
11:00 a.m., for the purposes of considering the Administrator's
proposals under paragraph 49 of Schedule B1 to the Insolvency Act
1986 and to consider establishing a Creditors' Committee. A
Creditor will be entitled to vote only if a written statement of
claim is given to me at Berg Kaprow Lewis LLP, 35 Ballards Lane,
London N3 1XW, no later than 12:00 noon on 6 October 2005, and if
the claim is admitted for voting purposes.  Any proxies that are
intended to be used must be submitted to me by the date of the
Meeting.  A Company may vote either by proxy or through a
representative appointed by a Board Resolution.

S T Bennett, Administrator

CONTACT:  MAYDAY GROUP LTD.
          21 Great Chapel Street,
          London W1F 8FW
          Phone: 02072872663

          BERG KAPROW LEWIS LLP
          35 Ballards Lane,
          London N3 1XW
          Phone: 020 8922 9222
          Fax:   020 8922 9223
          Enquiry Line: 020 8922 9121
          Web site: http://www.bergkaprowlewis.co.uk


MEDIA PRINTING: Creditors Meeting Set Next Week
-----------------------------------------------
Notice is hereby given pursuant to paragraph 51 of Schedule B1 of
the Insolvency Act 1986, that a Meeting of Creditors of the
above-named Company will be held at Torrington House, 47 Holywell
Hill, St Albans, Hertfordshire AL1 1HD, on Monday 10 October
2005, at 10:00 a.m., to consider the Joint Administrators'
proposals.  In order to be entitled to vote under Rule 2.38 of
the Insolvency (Amendment) Rules 2003, the proxy form should be
completed and returned to the Joint Administrators at Torrington
House, 47 Holywell Hill, St Albans, Hertfordshire AL1 1HD, by no
later than 12:00 noon on the business day prior to the Meeting,
together with written details of their claim.

M W Young, Joint Administrator

CONTACT:  VANTIS BUSINESS RECOVERY
          Torrington House,
          47 Holywell Hill, St Albans,
          Hertfordshire AL1 1HD
          Phone: 01727 811111
          Fax: 01727 810057
          E-mail: nhamiltons@aol.com
          Web site: http://www.vantismt.com


MEPC LTD.: S&P Downgrades Senior Unsecured Debt
-----------------------------------------------
Standard & Poor's Ratings lowered its senior unsecured debt
rating on U.K.-based property investment company MEPC Ltd. to
'B-' from 'B+'.  At the same time, Standard & Poor's removed the
senior unsecured debt rating from CreditWatch, where it was
placed with negative implications on Aug. 9, 2004.  In addition,
the 'B+' corporate credit rating on the group was affirmed.  The
outlook remains negative.

"The action follows MEPC's signing of a new seven-year GBP370
million secured bank facility, which will legally subordinate the
group's two GBP150 million senior unsecured debt issues," said
Standard & Poor's credit analyst Andreas Kindahl.

Standard & Poor's expects the possibility of a further weakening
of MEPC's financial profile if excess cash is upstreamed to the
owners, or if the group develops a more aggressive development
policy as reflected by the negative outlook.

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:  MEPC LTD.
          4th Floor
          Lloyds Chambers
          1 Portsoken Street
          London
          E1 8LW
          Phone: 020 7702 6100
          Fax: 020 7702 6123
          Web site: http://www.mepc.co.uk


NOVASPACE SHELVING: In Liquidation
----------------------------------
I. A. Wylie, Director of Novaspace Shelving Limited, informs that
a resolution to wind up the company was passed at an EGM held on
Sept. 16 at S G Banister & Co, 40 Great James Street, London WC1N
3HB.

Tim Alexander Clunie of S G Banister & Co, 40 Great James Street,
London WC1N 3HB was appointed liquidator.

Novaspace Shelving supplies, delivers and installs shelving and
racking throughout the U.K.

CONTACT:  NOVASPACE SHELVING LTD.
          Tonbridge, Kent
          TN9 1BL MAP
          Phone: 01732 357909
          Web site: http://www.novaspace.co.uk


NTL INC.: On Rating Watch Negative Pending Telewest Takeover
------------------------------------------------------------
Fitch Ratings placed NTL Inc.'s and NTL Cable Plc's ratings on
Rating Watch Negative following the announcement of NTL's agreed
acquisition of Telewest Global, Inc.  The Rating Watch will be
resolved upon completion of the transaction and related
financing, which is expected to take place in the first quarter
of 2006.

Ratings on Rating Watch Negative

NTL Inc.:
- Senior Unsecured: 'BB-' (BB minus)

NTL Investment Holdings Limited:

- GBP2.4 billion senior secured credit facilities: 'BBB-'

NTL Cable Plc:

- GBP375 million 9.75% senior notes due 2014: 'B+'
- US$425 million 8.75% senior notes due 2014: 'B+'
- EUR225 million 8.75% senior notes due 2014: 'B+'

In a July 2005 report on NTL, Fitch noted that under the terms of
its senior notes, NTL may merge with Telewest and incur
additional debt subject to a maximum total debt/annualized EBITDA
ratio to 5.5x.  Fitch analyzed the potential impact of a merger
between NTL and Telewest and indicated that NTL's ratings could
be downgraded by a single notch if NTL acquired Telewest and paid
more than half of the consideration in cash.

The announcement indicates that GBP2.3 billion, or 68% of the
GBP3.3 billion consideration for Telewest will be in cash, which
would result in NTL's total debt/EBITDA ratio increasing to 4.8x
from 3.5x at end-June 2005.  The cash consideration will be
financed with GBP500 million of NTL's existing cash balance and
the issue of GBP1.8 billion of new subordinated notes, which will
be structurally subordinated to NTL's existing senior notes.
Upon closing of the transaction and related financing, Fitch will
review the impact of the increase in financial leverage on the
combined group's cash flows to resolve the Rating Watch.  It is
likely that NTL's ratings will be either affirmed at the current
level or downgraded by a single notch.

Notwithstanding the increase in NTL's financial leverage, Fitch
believes that the combination of NTL and Telewest should
significantly enhance NTL's competitive position.  Management has
estimated that the cash impact of the synergies will amount to
GBP250 million per annum from 2008.  These synergies should help
to sustain NTL's profitability in the face of increasing price
competition in the broadband Internet market and competition from
new technologies such as digital terrestrial television, TV over
DSL and voice over IP telephony. Furthermore, NTL-Telewest's
increased scale in the U.K. television market will enable it to
compete more effectively with BSkyB.

"This long-awaited transaction will increase competition in the
U.K. pay-television market.  With 3.3 million pay-television
subscribers, the combined NTL-Telewest business will be in a
better position to bid against BSkyB and others for content such
as the rights to the U.K. Premier League when Sky's contract
expires in 2007," said Roger Coyle, director in Fitch's Leveraged
Finance Group.

NTL is the leading U.K. cable operator with 3.3 million
subscribers to its television, broadband Internet and telephony
services.  NTL's network passes 7.9 million homes in the U.K. and
has 39% customer penetration.  In H105, NTL generated GBP980
million revenues and GBP335 million EBITDA from continuing
operations.  Telewest has 1.8 million customers and 37%
penetration of the 4.7 million homes passed by its network.  In
H105, Telewest generated GBP719 million of revenues and GBP284
million of EBITDA.

CONTACT:  FITCH RATINGS
          Roger Coyle, London
          Phone: +44 (0)20 7862 4105
          Stuart Reid
          Phone: +44 (0)20 7417 4323
          Web site: http://www.fitchratings.com

          Media Relations
          Julian Dennison, London
          Phone: +44 20 7862 4080

          NTL INCORPORATED
          Bartley Wood Business Park
          Bartley Way
          Hook
          Hampshire R627 9UP
          Phone: +44-1256-75-2000
          Fax: +44-1256-75-4100
          Web site: http://www.ntl.com


PERFORMANCE & DECK: Goes into Liquidation
-----------------------------------------
M. S. Ralph, Chairman of Performance & Deck Roofing (2005)
Limited (formerly Performance & Deck Roofing Limited), informs
that resolutions to wind up the company were passed at an EGM
held on Sept. 19 at Master Brewer Hotel, Freezeland Way,
Hillingdon, Uxbridge, Middlesex UB10 9NX.

Alisdair J Findlay of Findlay James, Saxon House, Saxon Way,
Cheltenham GL52 6QX was appointed liquidator.

CONTACT:  PERFORMANCE & DECK ROOFING LTD.
          Batch House
          Stonehill Business Park
          Silvermere Drive
          London
          N18 3QH
          Phone: 020 8803 3020
          Fax: 020 8803 1266
          Web site: http://www.pdrl.co.uk
          E-mail: info@pdrl.co.uk

          FINDLAY JAMES
          Saxon House
          Saxon Way
          Cheltenham
          Gloucestershire GL52 6QX
          Phone: 01242 576555
          Fax: 01242 576999
          E-mail: ajf@finjam.com


POWERSAFE LIMITED: Contractors Call in Administrator
----------------------------------------------------
Neil Francis Hickling (IP No 5449) of Smith & Williamson Limited
was appointed administrator of Powersafe Limited (Company No
04366808) on Sept. 22.  The company's registered office is at No
1 St Swithin Street, Worcester WR1 2PY.  Powersafe Limited
accepts contracts for supply and erection of overhead power
lines.

CONTACT:  POWERSAFE LTD.
          Unit 9
          Ellesmere Business Park
          Ellesmere
          Shropshire SY12 0EW
          Phone: 01691 624242
          Fax: 01691 624241
          E-mail: info@powersafeltd.co.uk

          SMITH & WILLIAMSON
          1 St Swithin Street
          Worcester
          Worcestershire WR1 2PY
          Phone: 01905 730100
          Fax: 01905 723502
          E-mail: nfh@smith.williamson.co.uk


REGAL PETROLEUM: MFEU Approves Production Licenses
--------------------------------------------------
The Directors of Regal Petroleum plc have disclosed that the
Ministry of Fuel and Energy of Ukraine has issued Order No. 492
authorizing the commercial production of the company's
Svyrydivske license in Ukraine.

The company was issued full production licenses for the SV field
and the MEX/GOL field in July 2004 and accordance with
governmental procedures the company has now received Order No.
492 (issued on 29 September 2005) and Order No. 115 (issued on 18
March 2005) from the Ministry of Fuel and Energy of Ukraine
authorizing commercial production from all the company's Ukraine
license areas.

The issuing of these orders by MFEU demonstrates the authenticity
of the company's production licenses.

Further to the company's announcement advising of an intended
legal challenge to the company's licenses in Ukraine, the
Directors advise that, as expected, Chernigivnaftogasgeologia has
filed a legal action against the Ministry of Environmental
Protection with the Kiev City court.

The company continues to be advised by its legal counsel in Kiev
that the company was awarded its production licenses in
accordance with applicable rules, standards and legislation of
Ukraine.

Rex Gaisford, chief executive officer, said: "I am delighted that
the Ukraine Government has effectively confirmed the authenticity
of our production licenses in Ukraine.  We are confident that the
legal challenge filed by our former joint-venture partner will
shortly be dismissed by the courts and we will be able to
continue with our planned investment in Ukraine."

                        About the Company

Regal Petroleum plc is a London-based independent oil and gas
producer listed on the Alternative Investment Market of the
London Stock Exchange.  It focuses on the exploration,
development and production of oil and gas assets in Ukraine,
Greece, Romania, Egypt and Liberia.

Frank Timis, who also served as executive chairman, established
the company in 1996.  However, Mr. Timis stepped down in June as
the company's annual losses quadrupled.  For the year ending
December 31, losses of US$2.9 million a year earlier ballooned to
US$13.7 million (GBP7.55 million).

Since March, the company has lost 83% of its value, with shares
plunging significantly at the end of April when Regal raised
GBP45 million at 390 pence a share following its discovery of a
gas prospect in Romania.  It sank further when a well at its
prospect in Greece was found to be not commercially viable for
exploration.

CONTACT:  REGAL PETROLEUM PLC
          4th Floor
          11 Berkeley Street
          London, England W1J 8DS
          Phone: +44 20 7647 6622
          Fax: +44 20 7629 4297
          Web site: http://www.regalpetroleum.com
          Contact:
          Roger Phillips, Finance Director
          Phone: 020 7408 9500


ROHILL (UK): Administrators from Harrisons Enter Company
--------------------------------------------------------
P. R. Boyle and J. C. Sallabank (IP Nos 008897, 008099) of
Harrisons were appointed joint administrators of Rohill (UK)
Limited (Company No 05207384) on Sept. 20.  The company's
registered office is at Mitchell Close, West Portway Industrial
Estate, Andover SP10 3TJ.

CONTACT:  ROHILL (UK) LIMITED
          Web site: http://www.rohill-uk.com/

          HARRISONS
          4 St Giles Court, Southampton Street,
          Reading RG1 2QL
          Phone: 0118 951 0798
          Fax:   0118 939 4409
          E-mail: info@harrisons.uk.com
          Web site: http://www.harrisons.uk.com


SUSAN HAMILTON: Creditors Meeting Set Friday
--------------------------------------------
Notice is hereby given, pursuant to paragraph 22 of Schedule B1
to the Insolvency Act 1986, that a Meeting of Creditors of Susan
Hamilton Personnel Services Limited will be held at Hendon Hall,
Ashley Lane, off Parson Street, Hendon, London NW4 1HF, on 7
October 2005 at 10:00 a.m., for the purposes of considering the
Administrator's proposals under paragraph 49 of Schedule B1 to
the Insolvency Act 1986, and to consider establishing a Creditors
' Committee.  A Creditor will be entitled to vote only if a
written statement of claim is given to me at Berg Kaprow Lewis
LLP, 35 Ballards Lane, London N3 1XW, no later than 12:00 noon on
6 October 2005, and if the claim is admitted for voting purposes.
Any proxies that are intended to be used must be submitted to me
by the date of the Meeting.  A Company may vote either by proxy
or through a representative appointed by a Board Resolution.

S T Bennett, Administrator

CONTACT:  SUSAN HAMILTON PERSONNEL SERVICES LTD.
          Heathcock Court 415
          Strand London WC2R 0NS
          Phone: 020 7420 5454
          Fax: 020 7420 5455
          E-mail: admin@susanhamilton.co.uk

          BERG KAPROW LEWIS LLP
          35 Ballards Lane,
          London N3 1XW
          Phone: 020 8922 9222
          Fax:   020 8922 9223
          Enquiry Line: 020 8922 9121
          Web site: http://www.bergkaprowlewis.co.uk


TEKTRONIX UK: Hires Kroll Liquidator
------------------------------------
D. Stone, Chairman of Tektronix UK Development Centre Limited,
informs that resolutions to wind up the company were passed at an
EGM held on Sept. 13 at Western Peninsula, Western Avenue,
Bracknell, Berkshire RG12 1RF.

David J. Whitehouse and Simon Wilson of Kroll, The Observatory,
Chapel Walks, Manchester M2 1HL, be appointed Joint Liquidators

CONTACT:  TEKTRONIX UK DEVELOPMENT CENTRE LTD.
          Fourth Avenue, Marlow, Buckinghamshire SL7 1YD
          Phone: 01628403300

          KROLL
          Web site: http://www.krollworldwide.com


TELEWEST COMMUNICATIONS: On S&P's CreditWatch Negative
------------------------------------------------------
Standard & Poor's Ratings Services placed its 'BB-' long-term
corporate credit rating on U.K.-based cable telephony, TV, and
Internet provider Telewest Communications Networks Ltd.
(Telewest) on CreditWatch with negative implications, following
the announcement of the company's acquisition by NTL Inc.,
another U.K.-based provider operating in the same market.  At the
same time, Standard & Poor's affirmed its 'B+' long-term
corporate credit rating on NTL.  The outlook on NTL is positive.

The CreditWatch placement on Telewest follows the announcement
that NTL is to acquire Telewest Global, Inc. (Telewest's ultimate
parent) and principally reflects our opinion that the financial
risk profile of the combined NTL/Telewest group will be weaker
than that of Telewest alone.  The business benefits of the
combination are not sufficient to result, at least immediately,
in a rating higher than that on NTL, a company roughly twice the
size of Telewest.

The affirmation reflects Standard & Poor's opinion that the
business benefits from the Telewest acquisition are not
sufficient to result in a higher rating at this time.

The positive outlook on NTL reflects our view that credit
improvement will depend on NTL's successful integration of
Telewest, and improvement in its business risk profile.  A rating
upgrade could result from sustained operational improvement,
steady growth of revenues, and free cash flow generation, leading
to improved and sustainable credit measures, such as adjusted
total debt-to-EBITDA of less than 4x.  This might prompt a higher
rating, although debt reduction from asset sales alone would not
necessarily result in an upgrade.  Sustained deterioration in
operating performance or cash generation could result in an
outlook revision to stable.

"A key business challenge for the merged entity will be to retain
focus on customers and product development as the internal
restructuring proceeds," said Standard & Poor's credit analyst
Simon Redmond.

The transaction is subject to regulatory and shareholder
approvals and closing conditions.

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:  TELEWEST COMMUNICATIONS PLC
          160 Great Portland Street
          London W1W 5QA
          Phone: 020 7299 5479
          Fax: 020 7299 5494
          Web site: http://www.telewest.co.uk


TELEWEST GLOBAL: Inks Merger Deal with NTL
------------------------------------------
NTL Incorporated and Telewest Global, Inc. entered a definitive
merger agreement under which NTL will acquire Telewest, creating
the U.K.'s second largest communications company and leading
triple play service provider with a cable footprint covering more
than 50% of U.K. households.

The combined company will have nearly 5 million residential
customers.  It will be the largest provider of residential
broadband services in the country with 2.5 million subscribers,
the second largest pay TV provider with 3.3 million subscribers
and also the second largest fixed telephony provider with 4.3
million subscribers.

The combination of the two companies' local access networks,
which do not overlap, will provide a strong platform allowing for
product differentiation and innovation and the delivery of unique
packages of service offerings.  The combined company will have
the benefit of a much larger cable network and, together with
Telewest's content division, will strengthen cable's position in
the multi-channel TV marketplace.

Additionally, the transaction will create substantial synergies
and provide the impetus for increased product and technical
innovation.  Consumers will benefit from greater choice,
accelerated delivery of a broader range of personalized
communications and entertainment services and even better value.

On an unaudited pro forma basis for the twelve months ended June
30, 2005, the combined company would have had revenues of GBP3.4
billion (before adjustments) and operating income before
depreciation amortization and other charges of GBP1.2 billion
(before adjustments).  The combination will benefit from strong
cash flows underpinned by tangible cost and capex synergies,
which are expected to make the transaction significantly cash
accretive in 2006, before restructuring costs, and significantly
cash accretive after all costs from 2007 onwards.

Under the terms of the transaction, approved by the boards of
both companies, Telewest shareholders will receive US$16.25 in
cash and 0.115 shares of ntl stock for each common share of
Telewest they own, for a total consideration currently valued at
approximately US$6 billion or approximately US$23.93 per share.
On this basis, upon completion Telewest shareholders will own
approximately 25% of the enlarged NTL.  The transaction is
subject to U.K. regulatory approvals, approval by the
shareholders of both companies and other customary closing
conditions.  It is expected to close in the first quarter of
2006.

The Board of the enlarged company will consist of all the current
directors of NTL plus two directors from Telewest.  James Mooney
will be chairman of the Board of Directors, Anthony (Cob) Stenham
will be deputy chairman and Simon Duffy will be the president and
chief executive officer.  Telewest's acting chief executive
officer, Barry Elson, will leave the company upon the completion
of the transaction and Telewest's Chief Operating Officer Eric
Tveter will leave the company at the end of 2006.  Their
agreement to stay during the coming months will allow Telewest to
continue to benefit from their management and advice during the
completion of the transaction and subsequent integration program.

Simon Duffy, chief executive officer of NTL, said: "This is a
transforming transaction for the U.K. cable industry.  It marks
not just the culmination of a decade of consolidation but, more
importantly, the creation of a new competitive force in the
communications and entertainment sectors in the U.K.  By sharing
best practices across ntl and Telewest and by promoting
innovation and leadership, the company will focus on enhancing
dual and triple play penetration, improving sales and marketing
effectiveness and driving customer centricity and service
quality.  This is a significant value creation opportunity for
shareholders."

James Mooney, chairman of NTL, added: "Underpinned by a national
strategy and increased scale and reach, this transaction
positions the enlarged company for greater success than either
company could have achieved alone.  The company will have
additional resources to roll out new product offerings -- such as
HDTV, VoD and VoIP -- across its footprint.  This procompetitive
combination will provide customers with improved access to
competitively priced and flexible communication and entertainment
services."

Anthony (Cob) Stenham, chairman of Telewest, said: "We are very
pleased to recommend this value enhancing combination with ntl to
our shareholders.  The mix of stock and cash consideration will
enable Telewest shareholders to realize immediate value for their
shares and to participate in the upside of a combined company
that is better positioned to compete in the U.K. marketplace.  I
am proud of the achievements of all the staff at Telewest, and I
would also like to thank Barry and Eric for their contributions,
which have helped to establish the successful and valuable
business we are today."

NTL and Telewest expect that the proposed transaction will yield
a net present value of approximately GBP1.5 billion in synergies,
net of the cost to achieve them.  The gross OCF and capex
synergies are expected to be realized from 2006 onwards and ramp
up to an annual free cash flow run rate exiting 2008 of
approximately GBP250 million, representing approximately 8% of
the combined company costs and capex.  The synergies will be
realized through optimizing networks, systems and applications,
implementing best practices and eliminating duplicated
activities.

As reported in second quarter 2005 results, Telewest and NTL had
approximately GBP1.7 billion and GBP1.5 billion in net debt
respectively, for a pro forma combined net debt of GBP3.2
billion.  The cash portion of the acquisition will be financed
through approximately GBP1.8 billion in new financing and GBP500
million from existing NTL cash on hand.  In addition, the
existing senior facilities of both companies will be refinanced.
NTL has received financing commitments for the full amount
necessary to effectuate the transaction.  Net debt upon
completing the transaction will be approximately GBP5.7 billion,
representing approximately 4.7 x OCF.  NTL expects free cash flow
from the combined companies to provide the flexibility to reduce
combined debt to target levels over the medium term.

CONTACT:  TELEWEST GLOBAL, INC.
          160 Great Portland St.
          London
          W1W 5QA, United Kingdom
          Phone: +44-20-7299-5000
          Fax: +44-20-7299-5495
          Web site: http://www.telewest.co.uk

          NTL INCORPORATED
          Bartley Wood Business Park
          Bartley Way
          Hook
          Hampshire R627 9UP
          Phone: +44-1256-75-2000
          Fax: +44-1256-75-4100
          Web site: http://www.ntl.com


TRADELINK GLOBAL: Appoints B&C Associates Liquidator
----------------------------------------------------
J. Fenton, Director of Tradelink Global Systems Limited, informs
that a resolution to wind up the company was passed at an EGM
held on Sept. 8 at Trafalgar House, Grenville Place, London NW7
3SA.

Filippa Connor of B & C Associates, Trafalgar House, Grenville
Place, Mill Hill, London NW7 3SA was appointed liquidator.

CONTACT:  TRADELINK GLOBAL SYSTEMS LTD.
          3 Station Approach, Ashford, Middlesex TW15 2QN
          Phone: 01784256616

          B & C ASSOCIATES
          Trafalgar House
          Grenville Place
          Mill Hill
          London NW7 3SA
          Phone: 0208 906 7730
          Fax: 0208 906 7731
          E-mail: filippa@bcassociates.uk.com


TRESISES LIMITED: Print House Liquidates
----------------------------------------
Tresises Ltd. informs that resolutions to wind up the company
were passed at an EGM held on Sept. 20 at Wilmot House, St James
Court, Friar Gate, Derby DE1 1BT.

Simon Gwinnutt of Wilmot House, St James Court, Friar Gate, Derby
DE1 1BT was appointed liquidator.

CONTACT:  TRESISES LTD.
          Orchard Street
          Burton on Trent
          DE14 3BW
          Staffordshire
          Phone: 01283 568276
          Fax: 01283 511207
          Web site: http://www.tresisesprinters.co.uk


WM MORRISON: Names Richard Pennycook Finance Director
-----------------------------------------------------
Further to the announcement of 26 May 2005, Wm Morrison
Supermarkets plc confirmed Monday that Richard Pennycook has now
taken up his appointment as group finance director as of 1
October 2005.

There are no further details to be disclosed under paragraphs
9.6.13 (2) to (6) of the Listing Rules.

                        About the Company

Founded in 1899 by William Morrison, the company has grown from a
single egg and butter stall in Bradford market to become the
U.K.'s fourth largest, and rapidly growing supermarket chain.
With over 150,000 people working in stores, factories,
distribution centers and its head office, the company serves more
than 10 million customers weekly.

In May, Wm Morrison stated clearly that it was not in a position
to provide reliable guidance on the level of profitability for
the year as a whole.  Since that time, the market has produced a
wide range of profit estimates for the year 2005/6.  While
detailed forecasting work was underway, the Board believed the
guidance for profit before tax, exceptionals and goodwill for the
current year will fall within the range GBP50 million to
GBP150 million.

The Board reiterated that in 2006/7 there remains every
indication that financial performance will improve significantly
following completion of the conversion process and as the
benefits of the actions taken to normalize the cost structure of
the business are reflected in improving margins.

CONTACT:  WM MORRISON SUPERMARKETS PLC
          Hilmore House
          Thornton Road
          Bradford
          West Yorkshire
          England
          BD8 9AX
          Phone: +44 1274 494166
          Fax: +44 1274 494831
          Web site: http://www.morereasons.co.uk


WOODSTONE PEARCE: Hires Administrator from Albert Goodman
---------------------------------------------------------
Laurence Russell (IP No 9199) of Albert Goodman was appointed
administrator of Woodstone Pearce Limited (Company No 02897565)
on Sept. 22.  The company's registered office is at 18 Badminton
Road, Downend, Bristol BS16 6BQ.  Woodstone Pearce is engaged in
designing and fitting of business interiors.

CONTACT:  WOODSTONE PEARCE LTD.
          36 Victoria Street,
          Bristol BS1 6BY
          United Kingdom BS1 6HG
          Phone: 0117 927 3020
          Fax: 0117 934 9964
          E-mail: info@woodstonebusinessinteriors.co.uk
          Web site: http://www.woodstonebusinessinteriors.co.uk

          ALBERT GOODMAN
          Mary Street House
          Mary Street
          Taunton
          Somerset TA1 3NW
          Phone: 01823 286096
          Fax: 01823 257319


                            *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Larri-Nil Veloso, Ma. Cristina Canson, Liv Arcipe,
Julybien Atadero and Jay Malaga, Editors.

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

This material is copyrighted and any commercial use, resale or
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