TCREUR_Public/051011.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

           Tuesday, October 11, 2005, Vol. 6, No. 201

                            Headlines

D E N M A R K

RUWEL DANMARK: Parent Files Insolvency for Danish Plant


F R A N C E

SNCM: Unions End Strike, Promise to Study New Privatization Plan


G E R M A N Y

ADHOC MEDIEN: Bremen Firm Succumbs to Bankruptcy
AGRARPRODUKTE-ARENSDORF: Creditors' Claims Due Later this Month
ATABIA DATENTECHNIK: Aurich Court Appoints Administrator
CTU CONSULTING: Creditors to Meet November
DAIMLERCHRYSLER AG: Chrysler Recalls a Total of 583,000 Vehicles

EUREGIO MINERALOLE: Court to Verify Claims December
FJH AG: Capital Hike Reaches Final Phase
HERMANN SCHNEIDER: Bonn Company Goes Bust
LOGO-BAU: Aachen Business Under Bankruptcy Administration
NOLCOM GMBH: Hagen Court Calls in Administrator


I R E L A N D

AN POST: Workers Demanding Pay Hike Mull Strike


I T A L Y

ALITALIA SPA: Bares Net Financial Position
FIAT AUTO: Panda Model Passes 500,000 Mark
FIAT SPA: Buys out Leasys from Partner for EUR33.5 Mln
FIAT SPA: Exploring Strategic Alliance Opportunities with Tata


K Y R G Y Z S T A N

AIPERI: Public Auction Set Next Week
ANAR: Exits Bankruptcy Supervision
PKF-ASKAR: Proofs of Claim Deadline November 26
SELHOZHIMIYA-UG: Creditors' Claims Due Next Month


N E T H E R L A N D S

HAGEMEYER N.V.: CEO Sees Bright Future
ROYAL SHELL: Cancels 1,025,000 'A' Shares
VERSATEL TELECOM: Rebel Shareholders Snub Tender Offer


P O L A N D

WEGLOZBYT SA: Expects PLZ47 Mln from Asset Sale, Supply Deal


R U S S I A

ENERGO-METALLURG-MONTAGE: Insolvency Manager Enters Firm
INDUSTRIA-M: Bankruptcy Hearing Set Later this Month
KISELEVSK-MINE-STROY: Insolvency Manager Takes over Helm
MINE ZIMINKA: Under Bankruptcy Supervision
PAVLOVSKAYA MOVABLE: Undergoes Bankruptcy Supervision Procedure

RENAISSANCE CAPITAL: Proposed Eurobond Gets 'BB-' Rating
REPYEVKA-AGRO-SNAB: Voronezh Court Opens Bankruptcy Proceedings
SALUTE: Hires V. Iradionov Insolvency Manager
SEDIN-AGRO: Undergoes Bankruptcy Supervision Procedure
TAIGA: Court Brings in Insolvency Manager

TASHTAGOLSKIY BAKERY: Declared Insolvent
YUKOS OIL: Slovakia Threatens to Confiscate Transpetrol Stake
YUKOS OIL: Prosecutors' Raid on Offices Illegal, Lawyer Says
YUKOS OIL: Bidder for Mazeikiu Stake Known this Week
YUKOS OIL: Tomskneft Executive Accused of Illegal Activities


S W E D E N

CONCORDIA BUS: Completes Restructuring; To Get EUR20 Mln Equity
CONCORDIA BUS: Rating Raised to 'CC' After Restructuring
SAS GROUP: September Traffic Figures Up
SKANDIA INSURANCE: Chairman Steps down Amid Takeover Offer


U K R A I N E

AGROTECHNOLOGY: Goes into Liquidation
CHUGUYIV' FUEL: Under Bankruptcy Supervision
DNIPROVKA: Bankruptcy Supervision Begins
GALIT: Names V. Yurkiv Liquidator
INTEKO: Undergoes Bankruptcy Supervision Procedure

KOZIVSKIJ AGROPOSTACH: Succumbs to Bankruptcy
NADVIRNA' BREAD: Court Appoints Liquidator
SHPOLA' SUGAR: Temporary Insolvency Manager Takes over Helm
UYUT: Kirovograd Court Opens Bankruptcy Proceedings
YURFARM: Declared Insolvent


U N I T E D   K I N G D O M

5-A-DAY LIMITED: Members Opt for Liquidation
ALLSPORTS LTD.: Administrators Defer Closures to Consider Bids
ASHTEAD GROUP: U.S. Unit Buys Lewis Brothers
BARKBY ROAD: Hires Administrator from Vantis Redhead
BEAUTY DIRECT: Liquidator's Report Out Early Next Month

BERKELEY ELECTRICS: Hires Administrators
BOOTS GROUP: Expects to Complete BHI Disposal Early 2006
CABLE & WIRELESS: Unaudited Half-year Revenue Down 6%
CEN L LIMITED: Hires Administrator from Bishop Fleming
CENTURION LOGISTICS: Calls in Bishop Fleming Administrator

CHARLES COLLINGE: Administrators Enter Firm
COUNTY CHEMICAL: Files for Liquidation
DANKA BUSINESS: Non-executive Director Retires
DETECH ENVIRONMENTAL: Creditors Meeting Set Thursday
DIJAM LIMITED: Liquidator's Report Out Next Month

DURACORD: Returns to Administration
EAST CENTRAL: Office Supplies Wholesaler in Administration
ENVAURA LIMITED: Final Meeting Set Later this Month
GOSHAWK INSURANCE: Raises Loss Estimate for 'Katrina'
INEOS GROUP: Offers US$9 Billion for BP's Olefins, Refining Unit

INEOS GROUP: Rating Cut to 'BB-' on Planned Takeover of Innovene
IN FLIGHT: Sets Final Meeting October 24
INTERTEK GROUP: Acquires Westport for US$9 Million
KINGSTON HOLIDAY: Voluntarily Files for Liquidation
LANGTREE SKILLSCENTER: Hires Antony Batty & Co. as Administrator

LIVE PUBLISHING: Administrators Take over Operation
LYRESCOURT LTD.: Final Meeting Set November
MARCONI CORPORATION: Mum on Ericsson's Takeover Bid
MASS SPECTROMETRY: Creditors Meeting Next Week
MEPC LTD.: Ex-Dwyer Chief Joins Board

MG ROVER: Longbridge Revival Talks Still on Track
MILLBANK SERVICES: Liquidator to Deliver Report Next Month
NEWBEACH LTD.: Final Meetings Set November
OAKDALE PRINTING: Liquidator's Final Report Out November
OLD OAK: Creditors Meeting Set November

PAUL STEIGER: Liquidator's Report Out Early Next Month
PHOTOPLUS PROCESSING: Calls in Liquidators from Begbies
PREMIER SECURITY: Creditors Meeting Set Next Week
PRIMARY IMAGE: Calls in Administrator from Smith & Williamson
ROYAL & SUNALLIANCE: To Unveil Nine-month Results Next Month

SORTYNE LIMITED: Hires CBA Administrator
STANDING ROOM: Liquidator to Deliver Report October 24
STAR MANUFACTURING: Names Kay Johnson Gee Administrator
THE FARM: Last-minute Claim Holds up Rescue Plan
TOURISM SOUTH: General Meeting Set Later this Month

TT CONSTRUCTION: Final Meeting Set Oct. 27
VEDANTA RESOURCES: Outlook Revised to Negative on License Delay
VERTEC LIMITED: Creditors to Meet Next Week
YELLOW ROSE: Creditors Meeting Set Friday

* Large Companies with Insolvent Balance Sheets


                            *********


=============
D E N M A R K
=============


RUWEL DANMARK: Parent Files Insolvency for Danish Plant
-------------------------------------------------------
After a lengthy changeover phase from standard to thick-copper
technology at its subsidiary RUWEL DANMARK A/S in Nykobing,
Denmark, RUWEL AG in Germany has reluctantly taken the decision
to file a petition in insolvency for that location.

RUWEL DANMARK is continuing production independently of the
parent company, and does its utmost to assure supplies to its
customers.  This step was necessary after RUWEL DANMARK had shown
losses over many months during and after changeover to the new
circuit board technology.  Changeover difficulties, fierce
international competition and high prices of the starting
materials, which had hit the material-intensive thick-copper
product particularly hard, have contributed to this development.

In the end, the Danish banks were no longer willing to support
RUWEL DANMARK to the extent required.  Economically, RUWEL AG is
not affected by the insolvency.  Production at all the German
factories is continuing as always.  Both companies are at pains
to minimize the consequences for their customers.

                            *   *   *

With seven highly specialized production plants in Germany and
Denmark, RUWEL AG is the biggest circuit board manufacturer in
Europe.  It was founded as Ruwel-Werke in 1945 by Dipl.-Ing.
Fritz Stahl.  It purchased the Danish plant in 1971.

CONTACT:  RUWEL AG
          Am Hollander See 70
          D-47608 Geldern
          Web site: http://www.ruwel.com
          Phone:  +49 (2831) 394-201
          Fax: +49 (2831) 394-401
          E-mail: frank.hoiboom@ruwel.de

          RUWEL DANMARK A/S
          Havnevej 2
          DK-4500 Nykobing Sj.
          Phone: +45 - 59 96 - 50 00
          Fax: +45 - 59 96 - 50 19
          E-mail: info@ruwel.dk


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


SNCM: Unions End Strike, Promise to Study New Privatization Plan
----------------------------------------------------------------
The government succeeded Monday to get the unions to consider its
proposal to privatize ferry operator Societe Nationale Corse
Mediterranee (SNCM).

The government contingent led by Finance Minister Thierry Breton
discussed with union leaders a new ownership structure, with
France owning 25%; Butler Capital Partners, 38%; Connex, the
transport unit of local conglomerate Veolia Environnement, 28%;
and employees, 9%.

Although the unions believe the plan "offered nothing new," they
conceded it "deserve[s] to be studied."  Workers had been on
strike for three weeks to protest the privatization.  SNCM's
management had warned it will file for bankruptcy if a deal was
not reached by Monday.  The ferry operator has been losing EUR1.5
million a day since the strike began.  Workers agreed yesterday
to suspend their action and agreed to hold talks within the next
15 days.

The government announced tenders for the recapitalization of SNCM
in January of this year after SNCM posted a deficit of EUR29.7
million in 2004.  It said it could no longer provide the company
direct financial aid because of European Union competition rules.
In September, it revealed a plan to sell a majority stake in SNCM
without consulting the unions.  The plan, which entails axing 400
of SNCM's 2,400 employees, triggered the walkout by workers and
sympathy strikes in key ports on France's Mediterranean coast.

The government now plans to create a semi-public company as a
compromise to workers' demand that the state remain majority
owner of SNCM.  According to Les Echos, 51% of the new company
will be owned by the government, with the rest by private ferry
operator STEF-TFE.  This company will then acquire 51% of SNCM,
along with other investors under the previous plan.

SNCM operates ex-Corsica ferry services to mainland France and
other Mediterranean destinations.

CONTACT:  SOCIETE NATIONALE MARITIME CORSE-MEDITERRANEE
          Boulevard des Dames 61
          Cedex 02, 13226 Marseilles
          Phone: +33 (4) 91 56 33 63
          Fax: +33 (4) 91 56 34 05
          E-mail: jfrossignol@sncm.fr
          Web site: http://www.sncm.fr


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


ADHOC MEDIEN: Bremen Firm Succumbs to Bankruptcy
------------------------------------------------
The district court of Bremen opened bankruptcy proceedings
against adhoc Medien Produktion GmbH & Co. on September 14.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until October 25, 2005
to register their claims with court-appointed provisional
administrator Dr. Christian Strauss.

Creditors and other interested parties are encouraged to attend
the meeting on October 20, 2005, 9:30 a.m. at the district court
of Bremen, Saal 115, Gerichtshaus (Neubau), Ostertorstr. 25-31,
28195 Bremen, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report on
November 17, 2005, 9:30 a.m. at the same venue.

CONTACT:  ADHOC MEDIEN PRODUKTION GmbH & Co. KG
          Baumstr. 40-42, 28217 Bremen
          Contact:
          Frank Wengler, Manager
          Heiligenbergstr. 33, 28307 Bremen
          Ralf Vogel, Manager
          Struckbergstr. 24C, 27721 Ritterhude

          Dr. Christian Strauss, Administrator
          Friedrich-Missler-Str. 42, 28211 Bremen
          Phone: 0421/7926260
          Fax: 0421/7926285


AGRARPRODUKTE-ARENSDORF: Creditors' Claims Due Later this Month
---------------------------------------------------------------
The district court of Frankfurt (Oder) opened bankruptcy
proceedings against Agrarprodukte-Arensdorf GmbH on September 19.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until October 26, 2005
to register their claims with court-appointed provisional
administrator Rolf Nacke.

Creditors and other interested parties are encouraged to attend
the meeting on November 30, 2005, 10:30 a.m. at the district
court of Frankfurt (Oder), Muellroser Chaussee 55, 15236
Frankfurt (Oder), Saal 401, 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:  AGRARPRODUKTE-ARENSDORF GmbH
          Marxdorfer Str. 2, 15518 Arensdorf

          Rolf Nacke, Administrator
          Gross-Berliner Damm 73 c, 12487 Berlin


ATABIA DATENTECHNIK: Aurich Court Appoints Administrator
--------------------------------------------------------
The district court of Aurich opened bankruptcy proceedings
against Atabia Datentechnik GmbH on September 13.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until November 1, 2005 to
register their claims with court-appointed provisional
administrator Dr. Heiner Buss.

Creditors and other interested parties are encouraged to attend
the meeting on December 1, 2005, 10:30 a.m. at the district court
of Aurich, Schlossplatz 2, 26603 Aurich, 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:  ATABIA DATENTECHNIK GmbH
          Runjeweg 3, 26529 Rechtsupweg
          Contact:
          Mario Norbert Schoolmann, Manager

          Dr. Heiner Buss, Administrator
          Hauptstrasse 169, D-26639 Wiesmoor
          Phone: 04944/1033
          Fax: 04944/912035


CTU CONSULTING: Creditors to Meet November
------------------------------------------
The district court of Bersenbrueck opened bankruptcy proceedings
against CTU Consulting Trading Umwelttechnik GmbH on September
14.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until November
15, 2005 to register their claims with court-appointed
provisional administrator Uwe Kuhmann.

Creditors and other interested parties are encouraged to attend
the meeting on November 29, 2005, 9:00 a.m. at the district court
of Bersenbrueck, Raum E 11, Hauptgebaude, Stiftshof 8, 49593
Bersenbrueck, 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:  CTU CONSULTING TRADING UMWELTTECHNIK GmbH
          Hauptstrasse 65, 49586 Merzen
          Contact:
          Georg Overberg, Manager
          Oskar Bauer, Manager

          Uwe Kuhmann, Administrator
          Niedersachsenstrasse 14, 49074 Osnabrueck
          Phone: 0541/3304600
          Fax: 0541/3304400


DAIMLERCHRYSLER AG: Chrysler Recalls a Total of 583,000 Vehicles
----------------------------------------------------------------
DaimlerChrysler AG's Chrysler Group is recalling around 300,000
vehicles due to potential transmission defects, said the
Associated Press.

The recall will affect some 2005 model year Jeep Liberty, Jeep
Wrangler, Chrysler 300 and Dodge Magnum, Dodge Dakota/Mitsubishi
Raider pickups and Dodge Durango vehicles equipped with some
six-cylinder engines and automatic transmissions.

According to Chrysler spokesman Max Gates, a plug inside the
transmission may have been misplaced or missing that could
prevent the driver from placing the transmission in "park."  No
accident or injury has been reported in relation to the possible
defect, he added.

Dealers will install brackets to fix the transmission for free.
In the meantime, owners are advised to engage the parking brake
to secure the unit when parked.

Chrysler is recalling another 283,000 units to correct possible
inadvertent movement of the vehicles, although no defect has been
discovered.  The recall involves Dodge Ram pickups from the
2003-2005 model years equipped with diesel engines and automatic
transmissions.

Chrysler has found that some drivers are not fully placing the
shift lever in the "park" position.  This may cause the vehicle
to roll away, or move rearward if the driver leaves it running.

Dealers will install an alarm free of charge, which will sound if
the driver tries to exit the running vehicle with the shifter not
fully in "park".  Until the alarm is installed, owners are asked
to remove the key from the ignition and use the parking when
leaving the vehicle.

The National Highway Traffic Safety Administration has been
notified about the two recalls.

Earlier this month, the Associated Press reported that
DaimlerChrysler's Mercedes division is recalling some 50,000
vehicles due to defective windshield wipers.  Last month,
Chrysler unit announced that it will recall 100,000 Jeep Grand
Cherokee sport utility vehicles due to transmission fluid-related
troubles.

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

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


EUREGIO MINERALOLE: Court to Verify Claims December
---------------------------------------------------
The district court of Aachen opened bankruptcy proceedings
against EUREGIO Mineralole Handelsgesellschaft mbH i. L. on
September 20.  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 Carsten Lange.

Creditors and other interested parties are encouraged to attend
the meeting on December 6, 2005, 12:05 p.m. at the district court
of Aachen, Nebenstelle Augustastrasse, Augustastrasse 78/80,
52070 Aachen, II. Etage, Zimmer 21, at which time the administrat
or 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:  EUREGIO MINERALOLE HANDELSGESELLSCHAFT mbH i. L.
          Duerener Strasse 305, 52249 Eschweiler
          Contact:
          Dr. Wolfgang Mueller

          Carsten Lange, Administrator
          Laurentiusstrasse 16-20, 52072 Aachen
          Phone: 0241/946210
          Fax: 02419462111


FJH AG: Capital Hike Reaches Final Phase
----------------------------------------
The Executive Board of the Prime Standard listed consulting and
software company, FJH AG (ISIN DE0005130108), has resolved to
implement another part of the already announced capital increase
within the scope of the overall financing concept.

The subscription period for shareholders will begin on October
14, 2005 and end on October 28, 2005.  Holders of convertible
bonds will have a subordinate right to subscribe for any part of
the capital increase that is not subscribed for using shareholder
subscription rights; this subscription period will run from
October 17, 2005 until October 31, 2005.

The current authorized capital of the company of EUR10,270,000
will be increased in partial utilization of the authorization
under the approved Capital I by up to EUR2,054,000.  Accordingly,
2,054,000 new no-par-value bearer shares with subscription rights
will be issued at a price of Euro 3.00. The subscription ratio is
5:1 for shareholders and 10:1 for holders of convertible bonds.
Trade in subscription rights will not take place.  The part of
the capital increase, which shareholders or holders of
convertible bonds do not subscribe, will be guaranteed by an
investor.

From this corporate action, an amount of just under EUR6.2
million will flow to the company.  This capital increase
completes the financing concept commenced in June 2005 and has
provided funds of over EUR18 million for the company.  Baader
Wertpapierhandelsbank AG is managing the capital increase.

CONTACT:  FJH AG
          Elsenheimerstr. 65
          80687 Munich
          Phone: +49-(0) 89-769-01-517
          Fax: +49-(0) 89-769-01-606
          E-mail: martina.fassbender@fjh.com
          Web site: http://www.fjh.com


HERMANN SCHNEIDER: Bonn Company Goes Bust
-----------------------------------------
The district court of Bonn opened bankruptcy proceedings against
Hermann Schneider - Bueromaschinen - GmbH on September 19.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until November 2, 2005
to register their claims with court-appointed provisional
administrator Dr. Christian Frystatzki.

Creditors and other interested parties are encouraged to attend
the meeting on December 15, 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:  HERMANN SCHNEIDER - BUEROMASCHINEN - GmbH
          Muehlenstr. 121, 53347 Alfter
          Contact:
          Wolfgang Jakobs, Manager
          Maarbachstr. 111, 53347 Alfter

          Dr. Christian Frystatzki, Administrator
          Sankt Augustiner Strasse 94 a, 53225 Bonn
          Phone: 0228/ 40 09 40
          Fax: 40 09 479


LOGO-BAU: Aachen Business Under Bankruptcy Administration
---------------------------------------------------------
The district court of Aachen opened bankruptcy proceedings
against Logo-Bau GmbH on September 16.  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 Johannes Klefisch.

Creditors and other interested parties are encouraged to attend
the meeting on December 5, 2005, 9:50 a.m. at the district court
of Aachen, Nebenstelle Augustastrasse, Augustastrasse 78/80,
52070 Aachen, I. Etage, Saal 14, 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:  LOGO-BAU GmbH
          Kalfstr. 46, 52159 Roetgen
          Contact:
          Jeniffer Schuster, Manager
          Puetzgasse 58, 52076 Aachen

          Johannes Klefisch, Administrator
          Rotter Bruch 6, 52068 Aachen
          Phone: 0241/949740
          Fax: 0241/870203


NOLCOM GMBH: Hagen Court Calls in Administrator
-----------------------------------------------
The district court of Hagen opened bankruptcy proceedings against
NOLCOM GmbH on September 19.  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 Dr. Dirk Andres.

Creditors and other interested parties are encouraged to attend
the meeting on November 4, 2005, 9:20 a.m. at the district court
of Hagen, Haupthaus (Neubau), Heinitzstrasse 42, 58097 Hagen,
Etage 2, Raum 283, 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:  NOLCOM GmbH
          Westender Weg 80, 58313 Herdecke
          Contact:
          Helmut Nolte, Manager

          Dr. Dirk Andres, Administrator
          Grabenstr. 28, 58095 Hagen
          Phone: 02331/39 76 56
          Fax: +4923313976570


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


AN POST: Workers Demanding Pay Hike Mull Strike
-----------------------------------------------
A special delegate conference of the Communications Workers'
Union agreed on October 5 to vote on a possible industrial action
over Sustaining Progress pay rises at An Post, BizWorld reports.

Workers at the company said An Post failed to pay the increases
provided in the program.  The Labor Court previously endorsed the
agreement, but made productivity improvements as condition.

An Post in a statement reiterated its intention to honor the
agreement that would cost it EUR60 million annually, provided it
recoups part of the amount through a more efficient system of
mail pick-up and delivery.

The company closed last year with an after-tax profit of EUR6.5
million, ending three successive years of escalating losses that
threatened its future.  In April, An Post revealed an operating
profit of EUR1.8 million, with exceptional income of EUR5.3
million from property disposals and other items reflecting the
success of its crisis control measures.

Turnover in the year at EUR750.2 million was up by EUR41
million -- an increase of 5.8% on 2003.  Staff and postmasters'
costs at EUR502.4 million were marginally up on the previous year
while other costs decreased.

The financial turnaround was reportedly achieved by carrying out
a recovery strategy that involved cutting non-pay costs,
curtailing pay costs through stringent control of overtime and
recruitment, and the non-payment of Sustaining Progress.

However, future prospects for the Company remain uncertain as
mail volumes declined by 1.3% since 2003 - the second successive
year -- despite national economic growth of 5% a year and an
additional 80,000 new delivery points.

CONTACT:  AN POST
          E-mail: pressoffice@anpost.ie
          Web site: http://www.anpost.ie


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


ALITALIA SPA: Bares Net Financial Position
------------------------------------------
To comply with instructions from Italy's Securities and Exchange
Commission (CONSOB), this document contains information relating
to the net debt on August 31, 2005, (as well as any debt falling
due for Alitalia and the Group), published via press releases
issued by the end of each month, referring to the previous month.

It should be pointed out that, in line with CONSOB
recommendations, and as already reported in a previous press
release (issued for the first time on August 30, 2004, relating
to the Group's financial situation as of July 31, 2004), data
regarding current portions of amounts falling due within twelve
months are no longer classified under medium-/long-term
indebtedness, but now form part of data relating to short-term
financial debt.

                        July 31, 2005         August 31, 2005
                        Management Figures    Management Figures
                        Group     Alitalia    Group     Alitalia

Cash-on-hand and short- (321)     (311)       (300)     (287)
   term financial
   credits

Short-term financial     572       607         571       630
   indebtedness           (*)       (*)         (*)       (*)

Net short-term
   financial             251       296         271       343
   indebtedness

Medium/long-term       1,459     1,452       1,441     1,435
   indebtedness

Net financial          1,710     1,748       1,712     1,778
  position

(*) of which current
  installments of
  medium/long-term
  financial debt
  falling due within
  twelve months          569       568         568       566

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
(All figures in millions of euros)
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

The Group's net financial position on August 31, 2005, amounted
to EUR1,712 million, more or less in line (+EUR2 million) with
the situation on July 31, 2005, announced on August 31, 2005.

The net financial position of the parent company Alitalia on
August 31, 2005, amounted to EUR1,778 million (showing an
increase of EUR30 million compared to the situation on July 31,
2005) including short-term net financial debt to the subsidiaries
(one of which is Alitalia Servizi, split off from Alitalia S.p.A.
and operational since May 1, 2005).

The following observations on the most important changes that
have taken place during the two periods in question refer to the
situation for the Group.  However, given the preponderance of
Alitalia within the whole Group, these observations are in fact
representative of the parent company's performance alone;
specific facts and figures referring only to Alitalia are glossed
by notes.

It should also be pointed out that the figures in the above table
reflect the outcome of management analysis and include several
estimated items, which, however, do not affect the overall
significance of the information.

Furthermore, it should be pointed out that on August 31, 2005,
there were several leasing contracts at the Group level
(referring almost entirely to fleet aircraft mostly held by the
parent company amounting to EUR251 million) whose capital share,
including lease closure value, amounted to EUR273 million (of
which EUR49 million represent the current capital share falling
due within twelve months of the reference date, with EUR46
million held by the parent company).  By comparison, the same
figure on July 31, 2005, amounted to EUR278 million (of which
EUR52 million euros falling due in the twelve months from the
reference date); the corresponding figures for the parent company
on July 31, 2005, amounted to EUR255 and EUR49 million
respectively.

It should also be noted that existing debt to banks are almost
entirely backed up by real guarantees (mortgages on aircraft) or
by personal guarantees (mainly guarantees issued by banks for
export credit). The relative financing contracts contain standard
legal clauses relating to withdrawal. None of the contracts refer
to specific requirements regarding assets or economic/financial
aspects, in order to maintain the credit line.

In addition, it should be pointed out (as mentioned in a previous
release on April 29, 2005) that the overall credit facility of
EUR400 million (bridging loan) has been completed, through the
Dresdner Kleinwort Wasserstein bank, backed by guarantees from
the Ministry of Economy and Finance.

It should be noted that moving forward payments to European and
US suppliers falling due on Saturday July 30 and Sunday July 31
caused the slight overall worsening during August.  These
payments were made in the first few days of August in compliance
with regulations relating to payments due on non-working days. In
spite of this fact, cash-flow improvement (management figures)
during the period January 1-August 31, 2005, amounted to around
EUR225 million compared to the same period in
2004.

During August 2005, repayments were made of medium/long-term
financing amounting to EUR17 million.  Regarding debt of a
financial, fiscal and welfare nature, there were no outstanding
sums or payment irregularities on August 31, 2005, both for the
parent company and for the other companies in the Group.
As far as debt of a commercial nature are concerned, there were
no outstanding sums or payment irregularities on August 31, 2005,
both for the parent company and for other Group companies, except
for those relating to disputed situations.

Regarding the latter, there were outstanding sums due to some
airport management companies for disputed debt amounting to a
total of EUR55 million on August 31, 2005.

In addition, decisions are still pending for the petitions filed
by Alitalia - contesting the other parties' claims - regarding
these injunction orders:

(a) Five injunctions issued by an airport management company for
    a total of about EUR11.6 million regarding Alitalia, plus a
    further sum of about EUR1 million regarding Alitalia
    Airport;

(b) Another supplier has issued two injunctions relating to
    claims for unfulfilled contractual obligations by Alitalia
    (about EUR470,000) and by Atitech (about US$242,000);

(c) A further injunction has been issued by an IT services
    supplier for about EUR811,000;

(d) Another injunction has been issued by a professional studio
    for EUR534,000; and

(e) Injunctions issued by suppliers for smaller sums amounting
    to a total of around EUR16,000.

Except for the above, there are no other injunction orders or
executive actions undertaken by creditors notified as of August
31, 2005, nor are there any threats by suppliers to suspend
operations.

With reference to the net financial position on June 30, 2005
(previously announced on July 29, 2005), the consolidated
accounting figures have now become available, based on the report
for the first semester 2005, as shown below:

                               June 30, 2005
                             Accounting Figures
                             Group     Alitalia
Cash-on-hand and short-
   term financial credits     (287)        (311)

Short-term financial           583          589
   indebtedness                 (*)          (*)

Net short-term
   financial indebtedness      296          278

Medium/long-term
   indebtedness                1,462      1,455

Net financial position         1,758      1,733

(*) of which current
   installments of
   medium/long-term financial
   debt falling due within
   twelve months                 569        568

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
(all figures in millions of euros)
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

These figures show no significant changes at the Group level that
need to be commented on, with respect to the management figures
already announced on July 29.

September 30, 2005

                        About the Company

Headquartered in Viale A. Marchetti 111, 00148 Rome, Italy,
Alitalia S.p.A. -- http://www.alitalia.it-- generates more than
EUR4 billion in annual revenue and employs more than 20,000
people.  As of December 2004, the group net debt stood at EUR1.76
billion in 2004.  Alitalia flies to about 80 destinations in more
than 60 countries from its hubs in Rome and Milan and operates a
fleet of about 185 aircraft.  Despite a EUR1.4 billion
state-backed restructuring in 1997 and a EUR1.4 billion capital
injection two years ago, the carrier remains in deep financial
crisis.  Alitalia has posted an annual profit only four times in
the past 16 years.  A turnaround plan approved late 2004 will
split the airline's flight and ground operations, paving the way
for its privatization.  Banca Intesa S.p.A. and Deutsche Bank
will underwrite the carrier's EUR1.2 billion rights issue to
finance the restructuring.

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

          Simone Cantagallo
          Head of Media Relations
          Phone: 06-65627431
          E-mail: cantagallo.simone@alitalia.it
          Web site: http://www.alitalia.it


FIAT AUTO: Panda Model Passes 500,000 Mark
------------------------------------------
The Fiat Panda passed the milestone of 500,000 units manufactured
on October 7.

Two years after its market launch, the Fiat Panda passed this
ambitious milestone with a car that was ordered in Italy, with
the Emotion outfit, a 1.3 multijet engine and sparkling light
blue paintwork.

The Panda is built in the Polish plant of Tychy, and destined
primarily to the European markets, but it is also sold in
countries like Malaysia, Taiwan and Martinique, and there are
also 1,831 Pandas on the streets of Japan.

And it was a Japanese customer who ordered Fiat Panda no.
499,999, a Climbing 4x4, with Titian Red paintwork, while no.
500,001 remained in Poland, a Panda Active with yellow bodywork.
The Panda is the second best selling car in Italy, behind the
Fiat Punto.

Since it was launched, it has climbed rapidly up segment A,
reaching first place in the Italian and European top ten.  This
commercial success has been confirmed by 18 prizes awarded by the
international trade press, including the prestigious "Car of the
Year 2004" title.

                        About the Company

Fiat Auto manufactures automobiles, buses, industrial and special
vehicles, and agricultural tractors.  Earlier this year, Fiat
Auto was able to achieve its objective of breaking even at the
operating level.  Its net financial position as at the end of
2004, however, remained negative at -EUR5 billion.  S&P had said
the automotive activities will gradually recover although they
will remain loss making in 2005.

CONTACT:  FIAT AUTO S.P.A.
          Corso G. Agnelli, 200 - 10135 Torino
          Phone: +39 011 003 11 11
          Fax: +39 011 003 75 91
          Web site: http://www.fiat.com
          Contact:
          H. Demel, C.E.O


FIAT SPA: Buys out Leasys from Partner for EUR33.5 Mln
------------------------------------------------------
Fiat S.p.A. and Enel agreed on the sale of a 49% interest held by
Enel in Leasys Fiat to Fiat.  Under the agreement, which is
subject to approval by antitrust authorities, Fiat will increase
its interest in Leasys from 51% to 100%, for a consideration of
EUR33.5 million.

Leasys, an Italian market leader in long-term vehicle rental, has
a fleet of more than 86,000 vehicles and posted revenues of
EUR388 million in 2004.  The company was set up in September 2001
as a joint venture between Fiat and Enel.

The transaction is in line with Fiat's objective to strengthen
its position in the long-term vehicle rental market in Italy and
reflects Enel's choice to focus its activities on the energy core
business.

                        About the Company

Fiat S.p.A., headquartered in Turin, is one of the largest
industrial groups in Italy and the fourth largest European-based
automobile manufacturer, with revenues of EUR34.2 billion
generated for the 9-month period as at 30 September 2004.  Fiat's
creditors include Banca Intesa, Banca Monte dei Paschi di
Siena, Banca Nazionale del Lavoro, Capitalia, Sanpaolo IMI, and
UniCredito Italiano.

                         Status to date

The company recently converted EUR3 billion bank debt into
shares.  The founding Agnelli family maintained its 30% control
of the company.  S&P said the conversion is very favorable for
Fiat's credit quality.  It will wipe out EUR3 billion of
financial debt at the industrial level and materially decreases
the group's interest burden.  In August, it revised its outlook
on Italy-based automaker Fiat S.p.A. to stable from negative.  At
the same time, Standard & Poor's affirmed its 'BB-' long-term and
'B' short-term corporate credit ratings on the group.

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


FIAT SPA: Exploring Strategic Alliance Opportunities with Tata
--------------------------------------------------------------
Fiat S.p.A and Tata Motors Limited signed a Memorandum of
Understanding (MoU) to analyze the feasibility of cooperation,
across markets, in the area of passenger cars that would
encompass development, manufacturing, sourcing and distribution
of products, aggregates and components.

Following the MoU, a joint team would be set up by the two
companies to determine the feasibility and specificity of the
nature of cooperation, both in the short and long term.  If found
feasible, the two companies will enter into definitive agreements
in the course of the coming months.

In a statement, Mr. Sergio Marchionne, CEO of Fiat S.p.A, said:
"The possible strategic cooperative agreement with Tata Group
represents another step in our clearly defined strategy that
calls for targeted alliances across the automobile value chain.
It is consistent with successful ventures established with
premier partners including PSA Peugeot Citroen and Suzuki, and
the recently announced signing of a MoU with Ford Motor Co.  I
want to thank the Tata team, especially its Chairman, Mr. Ratan
Tata, for the outstanding work shared with us."

In his statement, Mr. Ratan Tata, Chairman of the Tata Group and
Tata Motors, said: "We are delighted to be in dialogue with the
Fiat Group on the range of possibilities between the two
corporations.  Fiat is a globally respected corporation, with a
long-standing presence in automobiles.

"Both companies will benefit from this alliance in terms of
possible joint product development, shared platforms and
aggregates."

About Fiat

One of the pioneer companies in the automobile industry, Fiat has
produced more than 85 million passenger cars and light commercial
vehicles, including no less than 400 models, since 1899, when the
company was founded in Turin, Italy.  Some of them have
represented milestones in the automotive industry.

The Fiat Group's Automobiles Sector operates worldwide with the
following brands: Fiat, celebrated for value, economy, and
innovation and whose mass produced cars are distributed over
almost the entire price class spectrum; Lancia (acquired in 1969)
means prestige cars noted for their elegant styling, and comfort;
Alfa Romeo (acquired in 1986) is famous as a maker of sport and
luxury vehicles of style and distinction; Maserati (acquired in
1992) represents a landmark in the history of the automobile;
Ferrari (acquired in 1969), well renowned for unsurpassed design,
performance, and luxury, is a legendary automobile that imparts
special cachet to its owner.

Web sites: http://www.fiatautopress.com;http://www.fiat.com;
http://www.lancia.com;http://www.alfaromeo.com;
http://www.maserati.com;http://www.ferrariworld.com

About Tata Motors

Tata Motors is India's largest automobile company, with revenues
of US$ 4.7 billion.  The company is a market leader in commercial
vehicles in India and amongst the top three players in the
passenger car industry.  It is the world's fifth largest medium
and heavy commercial vehicle manufacturer.  Tata Motors vehicles
are already being marketed in several countries in Europe,
Africa, the Middle East, South East Asia, South Asia and
Australia.  The company acquired the Daewoo Commercial Vehicles
Company, Korea's second largest truck maker, in 2004.  In 2005,
it acquired a 21% stake in Hispano Carrocera, the reputed Spanish
bus and coach manufacturer.  Web site: http://www.tatamotors.com

                         More About Fiat

Fiat S.p.A., headquartered in Turin, is one of the largest
industrial groups in Italy and the fourth largest European-based
automobile manufacturer, with revenues of EUR34.2 billion
generated for the 9-month period as at 30 September 2004.  Fiat's
creditors include Banca Intesa, Banca Monte dei Paschi di
Siena, Banca Nazionale del Lavoro, Capitalia, Sanpaolo IMI, and
UniCredito Italiano.

                         Status to date

The company recently converted EUR3 billion bank debt into
shares.  The founding Agnelli family maintained its 30% control
of the company.  S&P said the conversion is very favorable for
Fiat's credit quality.  It will wipe out EUR3 billion of
financial debt at the industrial level and materially decreases
the group's interest burden.  In August, it revised its outlook
on Italy-based automaker Fiat S.p.A. to stable from negative.  At
the same time, Standard & Poor's affirmed its 'BB-' long-term and
'B' short-term corporate credit ratings on the group.

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


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


AIPERI: Public Auction Set Next Week
------------------------------------
The bidding organizer and insolvency manager of JSC Aiperi will
sell its 100% stake in LLC Shveinaya Fabrica on October 18, 2005,
10:00 a.m. at Sulukta, Shahterskaya Str. 14.  Starting price is
KGS2,626,850.

To participate, bidders must register and deposit an amount
equivalent to 10% of the starting price on or before October 17,
2005, 12:00 noon.  Call (0-502) 41-35-98 or 62-21-54 for more
information.


ANAR: Exits Bankruptcy Supervision
----------------------------------
The bidding organizer and insolvency manager of JSC Anar says the
company has completed its bankruptcy supervision procedure.
Creditors have until Nov. 29, 2005 to submit their proofs of
claims to Djalal-Abad region, Kochkorata, Transportnaya Str.
Call (03734) 41-1-76 or (0-502) 39-36-28 for more information.


PKF-ASKAR: Proofs of Claim Deadline November 26
-----------------------------------------------
LLC PF-Askar, which recently declared insolvency, will accept
proofs of claim until November 26, 2005.  Call (0-37-22) 5-49-36
or (0-502) 72-23-65 for more information.


SELHOZHIMIYA-UG: Creditors' Claims Due Next Month
-------------------------------------------------
LLC Selhozhimiya-Ug, which recently declared insolvency, will
accept proofs of claim at Osh, Zagorodnaya Str. 17 until November
29, 2005.  Call (0-32-22) 7-03-53 for more information.


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


HAGEMEYER N.V.: CEO Sees Bright Future
--------------------------------------
Hagemeyer N.V. is bullish on its profit forecast for the second
half of 2005 and for FY2006 following the completion of its
turnaround plan, AFX News says.

In a presentation to investors and analysts, Chief Executive Rudi
de Becker expects an operating profit before exceptionals of
around EUR70 million for the second half.  Its flagship
Professional Products & Services (PPS) division, he said, has
"considerable further upside potential" from 2008 onwards.  He
predicts a return on investment of 9% in 2007 from the unit.

To sustain growth, he plans to improve the unit's "operational
basics" by improving gross margins and reducing the ratio of
operating expenses to sales.  He also plans to make medium-sized
acquisitions and expand operations in strategic locations.  He
sees expansion in Central and Eastern Europe, Asia and North
America.  PPS has already penetrated Belgium, Italy, Poland,
Czech Republic and the Baltic region; and China in Asia.

Analysts lauded Mr. de Becker's "confident presentation."
Keijser Securities analyst Bert Siebrand said, "not only did he
confirm guidance, but also presented a vision of how to grow the
PPS division beyond 2007."

ING Wholesale believes Hagemeyer can turn around its U.K.
business by crafting a recovery plan following the German
restructuring model.

                            *   *   *

Hagemeyer is a value added business-to-business (B2B)
distribution services group, focusing on the markets for
electrical materials, safety and other MRO (Maintenance Repair
and Operations) products in Europe, North America and Asia-
Pacific.  Currently over 18,000 people work for Hagemeyer in 27
countries.

Hagemeyer said in June it reached agreement in principle with a
bank consortium of ABN AMRO Bank, ING Bank, Rabobank and NIB
Capital Bank to refinance and improve existing senior secured
credit facility.  These banks will jointly increase their share
in the credit facility to Hagemeyer with approximately EUR240
million, which allows Hagemeyer to pay down all other 26 lenders
in its current senior credit facility.

In April, the Group reported that total net interest bearing debt
increased from EUR476 million at year-end 2004 to EUR535 million
at March 31, 2005.  Apart from the impact of foreign exchange
movements, the increase in net debt in Q1 2005 is mainly due to
seasonal influences.

CONTACT:  HAGEMEYER N.V.
          Rijksweg 69,
          P.O. Box 5111,
          1410 AC Naarden
          The Netherlands
          Phone: + 31 (0) 35 6957676
          Fax: + 31 (0) 35 6944396
          Web site: http://www.hagemeyer.com


ROYAL SHELL: Cancels 1,025,000 'A' Shares
-----------------------------------------
On 7 October 2005 Royal Dutch Shell plc purchased for
cancellation 1,025,000 'A' Shares at a price of EUR26.05 per
share.  It further purchased for cancellation 275,000 'A' Shares
at a price of 1,790.90 pence per share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 4,011,215,000.

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


VERSATEL TELECOM: Rebel Shareholders Snub Tender Offer
------------------------------------------------------
Minority investor holding 13.6% of Versatel refused to tender
their shares under a EUR1.34 billion (US$1.6 billion) takeover
offer by Tele2, according to Reuters.

The Swedish firm's offer for Versatel expired on Friday.  It is
conditional on an approval of 95% of shareholders, although
Versatel remains in control whether to waive the requirement.
Analysts say an acceptance level of 75 to 80% allows Tele2 to
declare the offer unconditional, and proceed with a "statutory
merger."  It would not squeeze out minority investors, but
replace their holdings with shares that are not freely
transferable in an unlisted Tele2 group company.

The minority investors led by Centaurus Capital previously
opposed Tele2's bid in court, but failed.  They were outvoted by
Talpa Capital, owned by billionaire TV producer John de Mol,
which holds about 42% of Versatel.

Other funds opposed to the deal are SG Amber Fund, Arnhold & S.
Bleichroeder Advisers, Mellon HBV Alternative Strategies and
Barclays Capital Securities.

CONTACT:  VERSATEL TELECOM INTERNATIONAL N.V.
          Wouter van de Putte, Investor Relations
          Phone: +31 20 750 2362

          Cilesta van Doorn, Corporate Communications
          Phone: +31 20 750 1318


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


WEGLOZBYT SA: Expects PLZ47 Mln from Asset Sale, Supply Deal
------------------------------------------------------------
Finally, a piece of good news for creditors.  Polish News
Bulletin says Weglozbyt has found a buyer for its unfinished
building in Cracow.

The bankrupt coal distributor was expected yesterday to sign a
preliminary agreement with winning bidder, DgiK, which offered
nearly PLZ30 million for the property.  Weglozbyt President Jerzy
Gora said the board had only sought PLZ16 million for the
building.  The company also expects to sign a PLZ17.5 million
supply contract with Huta Czestochowa steel mill.

The two deals are expected to smoothen negotiations with
creditors, which nearly forced the company into bankruptcy in
May.  The Regional Commercial Court in Katowice, instead, placed
Weglozbyt under observation for 12 months, but ordered it to
settle PLN90 million in debt every quarter within four years
after the observation period.

The company blames its troubles to unrealized investments in WRJ
rolling mill, among others.  Mr. Gora plans to sell PLZ120
million worth of properties in Warsaw and Cracow and halve
workforce to 120.  The company's creditors include Kompania
Weglowa, Katowicki Holding Weglowy and the Budryk coal mine.

CONTACT:  CENTRALA ZBYTU WEGLA WEGLOZBYT S.A.
          40-048 Katowice,
          ul. Kos'ciuszki 30
          Fax: (032) 251 15 62
          E-mail: czw@czw.com.pl
          Web site: http://www.czw.com.pl


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


ENERGO-METALLURG-MONTAGE: Insolvency Manager Enters Firm
--------------------------------------------------------
The Arbitration Court of Sverdlovsk region commenced bankruptcy
proceedings against Energo-Metallurg-Montage (TIN 6660019150,
OGRN 1026604935257) after finding the open joint stock company
insolvent.  The case is docketed as A60-24857/2005-S11.  Ms. L.
Yakimidi has been appointed insolvency manager.

CONTACT:  ENERGO-METALLURG-MONTAGE
          620072, Russia, Ekaterinburg,
          Novgorodtsevoy Str. 17, Office 2

          Ms. L. Yakimidi
          Insolvency Manager
          620028, Russia, Ekaterinburg,
          Post User Box 308
          Phone: (343) 373-43-86


INDUSTRIA-M: Bankruptcy Hearing Set Later this Month
----------------------------------------------------
The Arbitration Court of Krasnoyask region has commenced
bankruptcy supervision procedure on open joint stock company
Industria-M.  The case is docketed as A33-8798/2005.  Ms. E.
Sapozhnikova has been appointed temporary insolvency manager.  A
hearing will take place on October 27, 2005, 9:00 a.m.

CONTACT:  INDUSTRIA-M
          662549, Russia, Krasnoyask region,
          Lesosibirsk, Gogolya Str. 1

          Ms. E. Sapozhnikova
          Temporary Insolvency Manager
          660016, Russia, Krasnoyask region,
          Post User Box 1162


KISELEVSK-MINE-STROY: Insolvency Manager Takes over Helm
--------------------------------------------------------
The Arbitration Court of Kemerovo region has commenced bankruptcy
supervision procedure on building company Kiselevsk-Mine-Stroy.
The case is docketed as A27-15879/2005-4.  Mr. E. Bgatov has been
appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 652701, Russia,
Kemerovo region, Kiselevsk, Luganskiy Per. 7.  A hearing will
take place on November 23, 2005.

CONTACT:  KISELEVSK-MINE-STROY
          652701, Russia, Kemerovo region,
          Kiselevsk, Luganskiy Per. 7

          Mr. E. Bgatov
          Temporary Insolvency Manager
          652701, Russia, Kemerovo region,
          Kiselevsk, Luganskiy Per. 7


MINE ZIMINKA: Under Bankruptcy Supervision
------------------------------------------
The Arbitration Court of Kemerovo region has commenced bankruptcy
supervision procedure on open joint stock company Mine Ziminka.
The case is docketed as A27-13487/2005-4.  Ms. T. Filimonova has
been appointed temporary insolvency manager.  A hearing will take
place on November 10, 2005, 1:30 p.m.

CONTACT:  MINE ZIMINKA
          653026, Russia, Kemerovo region,
          Prokopyevsk, Morozovoy Str. 70

          Ms. T. Filimonova
          Temporary Insolvency Manager
          653026, Russia, Kemerovo region,
          Prokopyevsk, Morozovoy Str. 70


PAVLOVSKAYA MOVABLE: Undergoes Bankruptcy Supervision Procedure
---------------------------------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy supervision procedure on limited liability company
Pavlovskaya Movable Mechanized Column #1 (TIN 2346000907).  The
case is docketed as A-32-17761/2005-46/242-B.  Mr. V. Magdin has
been appointed temporary insolvency manager.  Creditors may
submit their proofs of claim to 350042, Russia, Krasnodar region,
Kolkhoznaya Str. 3, Room 307.

CONTACT:  PAVLOVSKAYA MOVABLE MECHANIZED COLUMN #1
          Russia, Krasnodar region, Pavlovskiy region,
          Pavlovskata St. Sovetskaya Str. 46

          Mr. V. Magdin
          Temporary Insolvency Manager
          350042, Russia, Krasnodar region,
          Kolkhoznaya Str. 3, Room 307
          Phone: (861) 275-89-30


RENAISSANCE CAPITAL: Proposed Eurobond Gets 'BB-' Rating
--------------------------------------------------------
Fitch Ratings has assigned Renaissance Securities Trading
Limited's new US$1 billion euro medium-term note program expected
ratings of Long-term 'BB-' (for senior unsecured notes with
maturities in excess of one year) and Short-term 'B' (for senior
unsecured notes with maturities of less than one year).  It has
also assigned an expected Long-term 'BB-' rating to the upcoming
debut three-year issue under the program.

The notes under the program are unconditionally and irrevocably
guaranteed by Renaissance Capital Holdings Limited (rated Long
term 'BB-'/Stable, Short-term 'B', Individual 'C/D', Support 5).
The final ratings are contingent upon receipt of final
documentation conforming materially to information already
received.

Issuance under the program will be rated separately.  The program
provides for the issuance of secured or structured (e.g.
index-linked) notes, whose ratings may differ from those assigned
to non-structured unsecured notes.

The unsecured notes of each series will rank at least pari passu
with all present or future unsecured and unsubordinated
obligations of the issuer and the guarantor, save those preferred
by relevant provisions of law and of general application.  The
master trust terms contain a number of covenants, including
covenants, which prohibit mergers by the issuer and the guarantor
and specify that a rating downgrade resulting from an increase in
financial leverage would constitute a technical default.

The Renaissance group was founded in 1995 by several individuals,
mostly expatriates working in Russia, and is now a leading
investment banking group on the Russian and Ukrainian markets,
with RCHL being the holding company located in Bermuda. It is
engaged in equities and fixed-income brokerage, capital markets,
investment banking and asset management.

CONTACT:  RENAISSANCE CAPITAL
          22 Voznesensky pereulok
          125009 Moscow
          Phone: +7 (501) 258-7777
          Fax: +7 (501) 258-7778
          E-mail: info@rencap.com
          Web site: http://www.rencap.com/eng

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

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


REPYEVKA-AGRO-SNAB: Voronezh Court Opens Bankruptcy Proceedings
---------------------------------------------------------------
The Arbitration Court of Voronezh region commenced bankruptcy
proceedings against Repyevka-Agro-Snab (TIN 3626000059) after
finding the open joint stock company insolvent.  The case is
docketed as A-14-4209-2005/22/20b.  Mr. L. Krapivkin has been
appointed insolvency manager.  Creditors have until November 10,
2005 to submit their proofs of claim to 394077, Russia, Voronezh,
Moskovskiy Pr. 117V, Apartment 52.

CONTACT:  REPYEVKA-AGRO-SNAB
          396370, Russia, Voronezh region,
          Repyevka, Torgovyj Per. 15

          Mr. L. Krapivkin
          Insolvency Manager
          394077, Russia, Voronezh region,
          Moskovskiy Pr. 117V, Apartment 52


SALUTE: Hires V. Iradionov Insolvency Manager
---------------------------------------------
The Arbitration Court of Tambov region has commenced bankruptcy
supervision procedure on limited liability company Salute.  The
case is docketed as A64-5431/05-18.  Mr. V. Iradionov has been
appointed temporary insolvency manager.  A hearing will take
place on December 8, 2005.

CONTACT:  SALUTE
          393464, Russia, Tambov region, Uvarovo-4

          Mr. V. Iradionov
          Insolvency Manager
          393464, Russia, Tambov region, Uvarovo-4


SEDIN-AGRO: Undergoes Bankruptcy Supervision Procedure
------------------------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy supervision procedure on close joint stock company
Sedin-Agro.  The case is docketed as A-32-20110-1/307-B.  Ms. V.
Kokurina has been appointed temporary insolvency manager.
Creditors may submit their proofs of claim to 350075, Russia,
Krasnodar region, Stasova Str. 180.

CONTACT:  SEDIN-AGRO
          350000, Russia, Krasnodar region

          Ms. V. Kokurina
          Temporary Insolvency Manager
          350075, Russia, Krasnodar region,
          Stasova Str. 180


TAIGA: Court Brings in Insolvency Manager
-----------------------------------------
The Arbitration Court of Kemerovo region has commenced bankruptcy
supervision procedure on open joint stock company Taiga.  The
case is docketed as A27-13793/2005-4.  Mr. E. Besedin has been
appointed temporary insolvency manager.  A hearing will take
place on December 2, 2005, 10:00 a.m. at the Arbitration Court of
Kemerovo region.

CONTACT:  TAIGA
          652401, Russia, Kemerovo region,
          Taiga, Kirova Str. 42

          Mr. E. Besedin
          Temporary Insolvency Manager
          650065, Russia, Kemerovo region,
          Lenina Pr. 164-272


TASHTAGOLSKIY BAKERY: Declared Insolvent
----------------------------------------
The Arbitration Court of Kemerovo region commenced bankruptcy
proceedings against Tashtagolskiy Bakery (TIN 4228002041) after
finding the municipal unitary enterprise insolvent.  The case is
docketed as A27-7897/2005-4.  Mr. A. Tseller has been appointed
insolvency manager.

CONTACT:  TASHTAGOLSKIY BAKERY
          652992, Russia, Kemerovo region,
          Tashtagol, Nogradskaya Str. 1a

          Mr. A. Tseller
          Insolvency Manager
          654000, Russia, Kemerovo region,
          Novokuznetsk, Post User Box 99/349


YUKOS OIL: Slovakia Threatens to Confiscate Transpetrol Stake
-------------------------------------------------------------
The Slovakian government is giving Yukos Oil until the end of the
year to voluntarily sell its 49% stake in Transpetrol A.S. or
lose it forcibly, Vedomosti reported recently.

The government is allegedly displeased by Yukos' plan to transfer
the stake into a trust to shield it from creditors.  Transpetrol
is part of Yukos Finance B.V., the Amsterdam-based unit that also
holds the stake in Mazeikiu Nafta AB, an oil refinery in
Lithuania.

Following last year's sale of Yuganskneftegaz, Yukos' main unit,
creditors have started targeting Yukos Finance, which controls
most of the group's assets abroad.  A bank syndicate has a
pending petition seeking enforcement of its claim on the Dutch
subsidiary.  A decision is expected later this month.

Yukos has not officially confirmed the existence of a trust or
any plan to form one.

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

          TRANSPETROL A.S.
          Sumavska 38
          821 08 Bratislava 2
          Phone: 02 / 5064 1701
          Fax: 02 / 5557 7105
          E-mail: transpetrol@transpetrol.sk
          Web site: http://www.transpetrol.sk


YUKOS OIL: Prosecutors' Raid on Offices Illegal, Lawyer Says
------------------------------------------------------------
One Mikhail Khodorkovsky's lawyers said Friday that prosecutors
had raided the offices of the defense team in their absence
without a court order, according to RIA Novosti.

"The Prosecutor General's Office conducted searches in my office
and [Denis] Dyatlev's office while I was in Matrosskaya Tishina
[detention center]," said defense team member Albert Mkrtychev by
telephone.

Mr. Mkrtychev said prosecutors had confiscated files on a
different case.  They seized documents presented in court from
Mr. Dyatlev's office.

"The judges declined to accept the documents for the record.
There is nothing secret about them," Mr. Mkrtychev said, adding
10-15 officers participated in the raid.  "I could not enter the
office as the street was cordoned off and police let no one in."

The Prosecutor General's Office did not offer any comments on the
lawyer's accusations.  On Wednesday, investigators raided the
office of Anton Drel, another Khodorkovsky attorney, and the
offices of beleaguered oil giant Yukos in Russia and the
Netherlands as part of a probe into an alleged US$7 billion
money-laundering scheme.

                            *   *   *

Prosecutors have accused Yukos officials of illegally using tax
exemptions in some regions in Russia to evade taxes.  They claim
Yukos used Fargoil and another trading arm, Ratibor, to transfer
out of the country billions of dollars in revenues from crude oil
sales between 2000 and 2003.

Yukos denies the allegation saying its trading revenues via
Fargoil and Ratibor were consolidated onto its financial reports
according to Western standards.  It also said the law at the time
allows the tax breaks it availed.

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection in December 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  A few days after, its main production
unit Yugansk was sold by the government to a little-known firm
OOO Baikalfinansgroup for US$9.35 billion.  The sale was aimed at
paying for a US$27.5 billion tax bill for 2000-2003.  Its
bankruptcy case was dismissed in February.  Yukos has only paid
US$11 billion so far, according to tax authorities.

Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H. Biery,
Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq., R.
Andrew Black, Esq., Fulbright & Jaworski, LLP, represent the
Debtor in its restructuring efforts.  When the Debtor filed for
protection from its creditors, it listed US$12,276,000,000 in
total assets and US$30,790,000,000 in total debt.

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

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


YUKOS OIL: Bidder for Mazeikiu Stake Known this Week
----------------------------------------------------
Russia's LUKoil and the Russian-British TNK-BP are top contenders
for a controlling stake in state-owned oil refinery Mazeikiu
Nafta, Lithuanian Prime Minister Algirdas Brazauskas told the
press.  Lithuania will choose a winning bidder this week, he
said.

The Lithuanian government owns 40.6% of Mazeikiu; Yukos holds
53.7% and management rights.  The government plans to buy out
Yukos' stake, and afterwards dispose of it together with half of
its own shares.  It hopes to raise US$350 million from the sale
of its holding.

Yukos, through its Dutch subsidiary Yukos International U.K.
B.V., is selling the stake to help pay its back-tax bill that as
of June 29 stood at US$2 billion, according to the Russian
Justice Ministry.  The market value of the Yukos-owned stake is
between US$1.5-2 billion.

Mazeikiu owns a refinery, the Butinge offshore terminal and a
pipeline.  It had net profit of LTL378.9 million (EUR109.6
million) in the first half on sales of LTL4.8 billion.

It is one of the last two foreign assets of Yukos that have not
been seized by the Russian government in an effort to collect
payment for the back-tax bill.  The other is a property in the
Netherlands.  Russia has asked all Yukos assets to be frozen, but
the two countries have not complied so far.

Also interested in the refinery are U.S. oil giant
ConocoPhillips, Russian companies Gazprombank and Lukoil, the
Russian-British joint venture TNK-BP, the international group
Vitol and Kazakhstan's state-owned KaMunGaz.

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

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


YUKOS OIL: Tomskneft Executive Accused of Illegal Activities
------------------------------------------------------------
A top executive at Yukos Oil subsidiary in Tomsk central Russia
is facing a criminal case on suspicions of illegal oil
production, according to MosNews.  Tomskneft-Eastern Oil Company
head and local MP Sergei Shimakevich is accused of unlawful
business activities in the company between 2001 and 2004.

Tomskneft, founded in 1966, is the major oil producer in Eastern
Siberia.  It was privatized after the collapse of the Soviet
Union.  The news of the criminal case came amidst raids conducted
by prosecutors on several Yukos offices in relation to an alleged
US$7 billion money-laundering probe.

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection in December 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  A few days after, its main production
unit Yugansk was sold by the government to a little-known firm
OOO Baikalfinansgroup for US$9.35 billion.  The sale was aimed at
paying for a US$27.5 billion tax bill for 2000-2003.  Its
bankruptcy case was dismissed in February.

Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H. Biery,
Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq., R. Andrew
Black, Esq., Fulbright & Jaworski, LLP, represent the Debtor in
its restructuring efforts.  When the Debtor filed for protection
from its creditors, it listed $12,276,000,000 in total assets and
$30,790,000,000 in total debt.

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

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


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


CONCORDIA BUS: Completes Restructuring; To Get EUR20 Mln Equity
---------------------------------------------------------------
The Concordia Bus Group on Thursday concluded its financial
restructuring.  All holders of the Group's EUR160 million Senior
Subordinated Notes who have accepted the terms of the financial
restructuring have received shares in exchange for their notes,
which have been annulled.  Senior Subordinated Notes converted to
equity amount to 97.5% of the shares in Concordia Bus AB.
Concordia Bus Nordic AB -- parent company of the Group's
operative bus companies where among others Swebus is part -- will
receive an equity injection of EUR20 million.

"I am very satisfied that we have concluded one of the largest
financial reconstructions in Sweden in later times," says Ragnar
Norback, CEO of the Concordia Bus Group.

"With our finances in place, we can now fully concentrate on our
business and on profitable growth in the bus transport markets.
As market leader we will also have a role to push for change.  If
the contractors are given strong incentives to increase the
number of travelers, taxpayers and travelers will get even better
services," continues Mr. Norback.

"We are very pleased with concluding this complex restructuring
with many parties involved," says Per Skargard, CFO of the
Concordia Bus Group.  "The Group's financial position is now
stable."

Following the settlement, a number of large international
investment funds, including Blue Bay Asset Management, Bear
Stearns, Fidelity Investment and Avenue Capital, are principal
shareholders of the Group.

The Concordia Bus Group is one of Europe's ten largest Groups
within public transports and largest in the Nordic region.  The
Group carries approximately 280 million passengers yearly in
scheduled services, motor coaches and tourist travel in Sweden,
Norway and Finland.  Swebus, Swebus Express and Interbus in
Sweden, I.M. Schoyen Bilcentraler in Norway and Concordia Bus
Finland are parts of the Group.

CONTACT:  CONCORDIA BUS GROUP
          Ragnar Norback, CEO
          Phone; + 46 701-87 10 40
          Per Skargard, CFO
          Phone: + 46 701-87 10 52


CONCORDIA BUS: Rating Raised to 'CC' After Restructuring
--------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term issuer
credit rating on Swedish bus services provider Concordia Bus AB
to 'CC' from 'SD' (selective default), and placed the rating on
CreditWatch with positive implications.  The rating actions
follow the conclusion of Concordia's financial restructuring and
the agreed annulment of the group's EUR160 million ($194 million)
senior subordinated notes.

At the same time, Standard & Poor's withdrew its 'D' (default)
subordinated debt rating on these notes, as, under the terms of
the financial restructuring, holders of the notes have consented
to receive shares in Concordia in exchange for their notes.

In a related action, Standard & Poor's revised the CreditWatch
implications to positive from negative on its 'C' rating on the
EUR130 million secured notes issued by Concordia's guaranteed
operating subsidiary, Concordia Bus Nordic AB.  The rating had
been placed on CreditWatch with negative implications on Dec. 17,
2004.

Following the annulment of the subordinated notes, Concordia is
no longer technically in default of its obligations.  The 'CC'
corporate credit rating reflects the current lack of sufficient
information on the group's new capital structure and liquidity
situation.  It is the lowest possible corporate credit rating in
the absence of an actual payment default.

"The positive CreditWatch implications reflect the likelihood
that Concordia's financial restructuring will result in a less
onerous debt burden and should enable the group to improve its
financial profile and liquidity situation," said Standard &
Poor's credit analyst Leigh Bailey.  "To resolve the CreditWatch
status, we will meet with Concordia in the coming weeks to
discuss the group's new capital structure and liquidity, trading
expectations, and business strategy," Mr. Bailey added.

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

CONCORDIA BUS NORDIC AB
          Contact:
          Ragnar Norback
          Phone: +46(0) 854630141, +46(0) 701871040
          Per Skargard
          Phone: +46(0) 854630021


SAS GROUP: September Traffic Figures Up
---------------------------------------
(a) SAS Group load factor for September was 71.2% up 5.9 p.u.
    vs. 2004;

(b) Total passenger traffic (RPK) increased by 9.7% in September
    2005 vs. 2004;

(c) The SAS Group transported 3.4 million passengers in
    September 2005, an increase of 13.0%; and

(d) Scandinavian Airlines Businesses' load factor in September
    was up 7.9 p.u. to a record 74.0%

Group Market Trends and Yield Development

Group total traffic volumes (RPK) developed well in September
with an increase of 9.7%. Capacity (ASK) increased by 0.6%
resulting in improved load factor of 5.9 p.u. to 71.2%.

As from September 1st Scandinavian Airlines and Blue 1 has
introduced new Business Models with one-way fares and simplified
rules on European and Intrascandinavian routes.  Due to the
relatively short timeframe this model has been active it is too
early to make conclusions on the effects, but the expected yield
drop to be offset by improved passenger load factor seems on
track so far.

Yields for August down 1.2% Compared with 2004.

Yields for Scandinavian Airlines for September are preliminary
and expected to be less than last year at an estimated level
of -5%-10%, offset by improved load.  Final figures will be
provided in the October traffic report.  Traffic and load factor
trends continued to improve in September compared with last year.
Some signs of reduced capacity in the marketplace have emerged,
but overall and due to the situation with continued overcapacity
and the competitive situation with price pressure in many markets
the overall outlook remains cautious.

Intercontinental traffic was up by 0.5% in September.  Passenger
load factor was improved by 6.1 p.u. to 87.3%.  SAS Group
European traffic increased by 17.6% and passenger load factor
increased by 7.2 p.u.  The introduction of Scandinavian Airlines
new business model on European routes has been well received and
load factor increased by 11.6 p.u. to 71.8%.  Traffic on Swedish
domestic routes continued to develop well and load factor
increased by 11.6 p.u. to 65.0%.  Blue 1 in Finland continued
with strong growth with an increase in traffic of 23.6%.  Blue
1's passenger load factor improved by 10.3 p.u. to 61.1%.
Spanair's traffic was up 20.3% and load factor was up 1.5 p.u. to
66.7%.

CONTACT:  SAS AB
          Frosundaviks Alle 1, Solna
          S-195 87 Stockholm, Sweden
          Phone: +46-8-797-00-00
          Fax: +46-8-797-16-03
          Web site: http://www.sasgroup.net

          Investor Relations
          Sture Stolen
          Phone: + 46 8 797 1451
          E-mail: sture.stolen@sas.se


SKANDIA INSURANCE: Chairman Steps down Amid Takeover Offer
----------------------------------------------------------
Bernt Magnusson has decided to resign from the Board of Skandia
Insurance Co. Ltd.  The Board has appointed Lennart Jeansson as
its new Chairman.

Bernt Magnusson said: "I do not consider it right to continue to
lead the work of the Board when there are different opinions on
an important and central issue.  Now that the Board has decided
to reject the offer for the company, it is natural and in
Skandia's best interests that I hand over the Chairman's gavel to
someone who shares the opinion of the majority within the Board,
and can therefore fully represent the company's position. As a
consequence, I also consider it appropriate to leave the Board."

Lennart Jeansson said: "I have total respect for Bernt
Magnusson's decision.  The Board will now continue its work of
developing Skandia.  Ultimately, it is, of course, Skandia's
shareholders who determine the composition of the Board, the
direction of the company and its abode.  This is something for
which I and the other members of the Board have the greatest
respect."

                        About the Company

Skandia is one of the world's leading independent providers of
quality solutions for long-term savings.  With operations in 20
countries, Skandia offers products and services catering to
customers' needs for savings solutions and financial security in
various phases of life.

In 2004, the company reported sales of SEK98 billion, and a net
result of -SEK139 million.  It has approximately 5,800 employees.

In August, Skandia reported result for first half of 2005 was
-SEK1,047 million.  Revenues rose 15% to SEK7,829 million, while
expenses increased to -SEK8,401 million.

CONTACT:  SKANDIA INSURANCE COMPANY LTD.
          Sveavagen 44
          S-103 50 Stockholm, Sweden
          Phone: +46-8-788-1000
          Fax: +46-8-788-3080

          Bjorn Bjornsson
          Vice Chairman
          Phone: +46-8-788 25 00

          Jan-Mikael Bexhed
          General Counsel
          Phone: +46-8-788 25 00


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


AGROTECHNOLOGY: Goes into Liquidation
-------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
proceedings against Agrotechnology (code EDRPOU 23107864) after
finding the close joint stock company insolvent.  The case is
docketed as 5/73-05.  State Tax Inspection of Nemiriv district
has been appointed liquidator/insolvency manager.  The company
holds account number 26000356101 at JSB Energobank, Vinnitsya
branch, MFO 302731.

CONTACT:  AGROTECHNOLOGY
          Ukraine, Vinnitsya region,
          Nemiriv, Lenin Str. 171

          STATE TAX INSPECTION OF NEMIRIV DISTRICT
          Liquidator/Insolvency Manager
          22800, Ukraine, Vinnitsya region,
          Nemiriv, Shevchenko Str. 14

          ECONOMIC COURT OF VINNITSYA REGION
          Ukraine, Vinnitsya region,
          Hmelnitske Shose, 7


CHUGUYIV' FUEL: Under Bankruptcy Supervision
--------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
supervision procedure on OJSC Chuguyiv' Fuel Equipment (code
EDRPOU 00235938) on August 5, 2005.  The case is docketed as
B-39/82-05.  Mr. Andrij Fedorchenko (License Number AA 779212)
has been appointed temporary insolvency manager.  The company
holds account number 2600102274 at JSCB Region-Bank, Chuguyiv
branch, MFO 350512.

CONTACT:  CHUGUYIV' FUEL EQUIPMENT
          63503, Ukraine, Harkiv region,
          Chuguyiv, Michurin Str. 8

          Mr. Andrij Fedorchenko
          Temporary Insolvency Manager
          Ukraine, Harkiv region,
          S. Gritsevtsya Str. 24/15

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


DNIPROVKA: Bankruptcy Supervision Begins
----------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
supervision procedure on LLC Dniprovka (code EDRPOU 00849132) on
August 18, 2005.  The case is docketed as 19/176(05).  Mr. Sergij
Roman (License Number AA 783033) has been appointed temporary
insolvency manager.

CONTACT:  DNIPROVKA
          Ukraine, Zaporizhya region,
          Kamyanko-Dniprovskij district, Dniprovka

          Mr. Sergij Roman
          Temporary Insolvency Manager
          71500, Ukraine, Zaporizhya region,
          Energodar, Skifska Str. 18/9
          Phone: (097) 355-88-24

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


GALIT: Names V. Yurkiv Liquidator
---------------------------------
The Economic Court of Ivano-Frankivsk region commenced bankruptcy
proceedings against Galit (code EDRPOU 32224115) on August 16,
2005 after finding the limited liability company insolvent.  The
case is docketed as B-11/197.  Mr. V. Yurkiv (License Number AB
116120) has been appointed liquidator/insolvency manager.  The
company holds account number 26007330010959 at JSCB Prikarpattya,
Kalush branch, MFO 336729.

CONTACT:  GALIT
          77305, Ukraine, Ivano-Frankivsk region,
          Kalush, Promislova Str. 14

          Mr. V. Yurkiv
          Liquidator/Insolvency Manager
          77300, Ukraine, Ivano-Frankivsk region,
          Kalush, Bilas I Danilishin Str. 14
          Phone: (03472) 5-12-25

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


INTEKO: Undergoes Bankruptcy Supervision Procedure
--------------------------------------------------
The Economic Court of Lviv region has commenced bankruptcy
supervision procedure on LLC Inteko (code EDRPOU 32970211).
The case is docketed as 6/194-29/211.  Mr. R. Ulyanik (License
Number AA 66947) has been appointed temporary insolvency manager.
The company holds account number 260056336 at JSPPB Aval,
Ivano-Frankivsk branch, MFO 336462.

CONTACT:  INTEKO
          Ukraine, Lviv region,
          Shevchenko Str. 120

          Mr. R. Ulyanik
          Temporary Insolvency Manager
          79052, Ukraine, Lviv region,
          Shiroka Str. 90/16

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


KOZIVSKIJ AGROPOSTACH: Succumbs to Bankruptcy
---------------------------------------------
The Economic Court of Ternopil region has commenced bankruptcy
supervision procedure on OJSC Kozivskij Agropostach (code EDRPOU
00907295).  The case is docketed as 1/B-633.  Mr. Volodimir
Didich (License Number AA 047819) has been appointed temporary
insolvency manager.  The company holds account number 260092979
at JSPPB Aval, Ternopil regional branch, MFO 338501.

CONTACT:  KOZIVSKIJ AGROPOSTACH
          Ukraine, Ternopil region,
          Kozova, Gagarin Str. 13

          Mr. Volodimir Didich
          Temporary Insolvency Manager
          Phone: (0352) 22-62-75, 22-10-67

          ECONOMIC COURT OF TERNOPIL REGION
          46000, Ukraine, Ternopil region,
          Ostrozski Str. 14a


NADVIRNA' BREAD: Court Appoints Liquidator
------------------------------------------
The Economic Court of Ivano-Frankivsk region commenced bankruptcy
proceedings against Nadvirna' Bread Combine (code EDRPOU
00378342) on June 29, 2005 after finding the open joint stock
company insolvent.  The case is docketed as B-7/168.
Mr. Vitalij Nasadyuk (License Number AA 48524) has been appointed
liquidator/insolvency manager.

CONTACT:  NADVIRNA' BREAD COMBINE
          77400, Ukraine, Ivano-Frankivsk region,
          Nadvirna, Vizvolennya Str. 1

          Mr. Vitalij Nasadyuk
          Liquidator/Insolvency Manager
          Ukraine, Ivano-Frankivsk region,
          Nadvirna, Ivan Franko Str. 12/53
          Phone/Fax: (03475) 2-50-81

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


SHPOLA' SUGAR: Temporary Insolvency Manager Takes over Helm
-----------------------------------------------------------
The Economic Court of Cherkassy region has commenced bankruptcy
supervision procedure on OJSC Shpola' Sugar Plant (code EDRPOU
00373439).  The case is docketed as 01/3563.  Mr. Viktor Osipchuk
has been appointed temporary insolvency manager.  The company
holds account number 260045777 at JSPPB Aval, Cherkassy regional
branch, MFO 354411.

CONTACT:  SHPOLA' SUGAR PLANT
          20600, Ukraine, Cherkassy region,
          Shpola, Slobidska Str. 108

          Mr. Viktor Osipchuk
          Temporary Insolvency Manager
          Ukraine, Cherkassy region,
          Vernigora Str. 16/11

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


UYUT: Kirovograd Court Opens Bankruptcy Proceedings
---------------------------------------------------
The Economic Court of Kirovograd region has commenced bankruptcy
proceedings against Furniture Factory Uyut (code EDRPOU 23231475)
after finding the limited liability company insolvent.  The case
is docketed as 10/125.  Ms. Nataliya Suhorukova (License Number
AA 216878) has been appointed liquidator/insolvency manager.

CONTACT:  UYUT
          Ukraine, Kirovograd region,
          Svitlovodsk, Druzhba Str. 15

          Ms. Nataliya Suhorukova
          Liquidator/Insolvency Manager
          Ukraine, Kirovograd region,
          Timiryazev Str. 62/2-7
          Phone/Fax: (0522) 24-35-67

          THE ECONOMIC COURT OF KIROVOGRAD REGION
          25022, Ukraine, Kirovograd region,
          Lunacharski str. 29


YURFARM: Declared Insolvent
---------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Pharmaceutical Company Yurfarm (code EDRPOU
31323070) on July 21, 2005 after finding the close joint stock
company insolvent.  The case is docketed as 340/14 b-03.  Mr.
Yurij Bilik (License Number AA 783144) has been appointed
liquidator/insolvency manager.

CONTACT:  YURFARM
          08300, Ukraine, Kyiv region,
          Borispil, Shevchenko Str. 100

          Mr. Yurij Bilik
          Liquidator/Insolvency Manager
          02068, Ukraine, Kyiv region,
          Ahmatova Str. 13/67

          ECONOMIC COURT OF KYIV REGION
          01032, Ukraine, Kyiv region,
          Komintern Str. 165


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


5-A-DAY LIMITED: Members Opt for Liquidation
--------------------------------------------
D. L. Punter, director of AFI Fruit Importers Limited, A. R.
Allmond, and Saybest Limited, informs that special and ordinary
resolutions to wind up these companies were passed at an EGM held
on Sept. 21.  John Paul Bateman and Mark Jeremy Orton of KPMG
LLP, 2 Cornwall Street, Birmingham B3 2DL were appointed joint
liquidators.

CONTACT:  5-A-DAY LTD.
          Sundance House, Staniland Way,
          Peterborough, Cambridgeshire PE4 6FN
          Phone: 01733-325888

          KPMG LLP
          2 Cornwall Street
          Birmingham B3 2RT
          Phone: (0121) 232 3000
          Fax:   (0121) 232 3500
          Web site: http://www.kpmg.co.uk


ALLSPORTS LTD.: Administrators Defer Closures to Consider Bids
--------------------------------------------------------------
BDO Stoy Hayward said Thursday that closures of Allsports Ltd.
stores and associated redundancies have been temporarily
postponed.

Dermot Power, a BDO partner, said: "In view of significant bid
approaches to run large parts of the business as a going concern
we are deferring our intended closure program."  He added store
redundancies and head office cost-cutting could still take place
as early as next week.

Along with Mr. Power, Matthew Dunham and Simon Michaels were
appointed Joint Administrators of Allsports Limited, Allsports
(Retail) Limited and Allsports.co.uk Limited on 26 September
2005.  Allsports is one of Britain's leading sports goods
retailers with over 260 stores nationwide employing approximately
1,700 staff.  A helpline has been set up to assist Allsports
customers, suppliers and landlords on 0161 406 1504.

                            *   *   *

Established in June 1996, Allsports, which sells sports
leisurewear, has seen its network grow to 267 stores across the
U.K. and turnover from GBP100 million in 1997 to GBP187 million
in 2004.  Profitability, however, has been inconsistent.  It
earned GBP17.8 million in 1997 and GBP22.5 million in 1998, but
in the succeeding years profit slipped 40%.  In 2002, it
recovered and booked profit of over GBP12.5 million, but it hit
an all-time low in 2004 with GBP3.8 million.

CONTACT:  ALLSPORTS LTD.
          50 Volcy Pougnet Str.
          Port Louis
          Phone: 2088272
          Fax: 2104719
          Web site: http://www.allsports.co.uk

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


ASHTEAD GROUP: U.S. Unit Buys Lewis Brothers
--------------------------------------------
Ashtead Group plc says its U.S. subsidiary, Sunbelt Rentals Inc.,
has acquired Lewis Brothers Inc, the operator of a
well-established rental store serving the Indianapolis, Indiana
market for a consideration of GBP3.4 million.

This acquisition further extends Sunbelt's presence in the
Indianapolis area and follows earlier acquisitions in Florida,
Tennessee, California and Nevada and recent greenfield openings
in Phoenix, Houston and Maryland to make a total of 13 new stores
opened or acquired in the current financial year.  The aggregate
consideration for the acquisitions this year is US$29 million,
which has been financed from existing credit facilities.

                        About the Company

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

In July, Ashtead completed its refinancing, which included:

(a) the raising of approximately GBP70 million before expenses
    through the Placing and Open Offer of approximately 73.4
    million New Ordinary Shares at 95.5 pence per share; and

(b) the raising of US$250 million (approximately GBP142
    million), before expenses, by the issue of New Senior Loan
    Notes, which carry an interest rate of 8 5/8% and will be
    repayable in full in August 2015.

From the proceeds of the refinancing, Ashtead has now repaid the
Convertible Loan Note at a discount of approximately 11% and will
redeem GBP42 million of the existing Senior Loan Notes, which
carry interest at a rate of 12%.

Together these transactions have further deleveraged the balance
sheet and reduced borrowing costs; further extended the average
debt maturity to approximately 7 years; avoided the potential
dilution to existing shareholders which would occur if the
Convertible Loan Note were to convert into equity; broadened the
investor base; and facilitated the payment of dividends in the
future.

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

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


BARKBY ROAD: Hires Administrator from Vantis Redhead
----------------------------------------------------
J. S. French and G. Mummery (IP Nos 003862 and 100898) of Vantis
Redhead French Limited were appointed joint administrators of
Barkby Road Dyeworks Limited (Company No 05432299) on Sept. 26.
The company specializes in dying and finishing of fabrics.

CONTACT:  BARKBY ROAD DYEWORKS LTD.
          97, Barkby Rd.,
          Leicester, Leicestershire LE4 9LG
          Phone: 0116 276 3352

          VANTIS REDHEAD FRENCH LIMITED
          43-45 Butts Green Road,
          Hornchurch, Essex RM11 2JX
          Phone: 01708 458211
          Fax: 01708 442308
          E-mail: jeremy.french@vantisredheadfrench.co.uk


BEAUTY DIRECT: Liquidator's Report Out Early Next Month
-------------------------------------------------------
N. Gibson, Joint Liquidator of Beauty Direct International
Limited, informs that a Final Meeting of the Members of the
Company will be held at the offices of CBA, 39 Castle Street,
Leicester LE1 5WN, on 7 November 2005, 2:00 p.m.

CONTACT:  BEAUTY DIRECT INTERNATIONAL LTD.
     Hollis Lane, Kenilworth, Warwickshire CV8 2JY
          Phone: 01926-850372


BERKELEY ELECTRICS: Hires Administrators
----------------------------------------
P. R. Boyle and J. C. Sallabank (IP Nos 008897, 008099) of
Harrisons were appointed joint administrators of Berkeley
Electrics (Slough) Limited (Company No 01340628) on Sept. 29.
The company's registered office is at 4 St Giles Court,
Southampton Street, Reading, Berkshire RG1 2QL.

Berkeley Electrics is an established electrical contracting
company, specializing in the installation, maintenance and
testing of a range of electrical equipment used in the industrial
and commercial sectors.  Visit
http://www.berkeleyelectrics.co.uk/for more information.

CONTACT:  BERKELEY ELECTRICS
          389 Sykes Road, Slough
          Berkshire, SL1 4SP
          Phone: 01753 818240
          Fax: 01753 818241
          E-mail: infor@berkeleyelectrics.co.uk

          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


BOOTS GROUP: Expects to Complete BHI Disposal Early 2006
--------------------------------------------------------
Boots Group plc has entered into an agreement to sell the Boots
Healthcare International business (BHI) to Reckitt Benckiser plc,
for an aggregate consideration on a debt and cash free basis of
GBP1.926 billion in cash, subject to a completion working capital
adjustment.

It is intended that completion of the Disposal will be followed
as soon as practicable by a return of approximately GBP1.43
billion (equivalent to approximately 200 pence per Boots share)
by way of a special dividend to Boots shareholders accompanied by
a consolidation of the ordinary share capital of Boots.  After
the payment of anticipated taxation and other costs associated
with the transaction, the remaining proceeds of GBP400 million
will be retained for future investment in Boots and in the
proposed Alliance Boots Group.

Background to and Reasons for the Disposal

BHI is entering the final year of a successful four-year growth
strategy, which has delivered revenue growth in excess of the
consumer healthcare market average and led to a substantial
increase in profits.  Following a review of BHI's strategic
objectives earlier this year, Boots concluded that the organic
growth prospects of the business remained attractive and that BHI
had significant potential.  Boots also concluded that the
consumer healthcare market was entering a period of consolidation
in which BHI needed to participate.

Given Boots' strategic focus on its retail pharmacy business,
however, Boots decided it could not commit the required resources
to lead in any consolidation process and therefore announced on 7
April 2005 its intention to sell BHI.

Information on BHI

BHI is a leading player in the global over-the-counter consumer
healthcare market, focusing on analgesics, skincare,
dermacosmetics and throat care.  It manufactures and sells three
principal brands, Nurofen, Clearasil and Strepsils, which are
leaders in their markets and widely recognized throughout the
world.  The business also includes a number of other locally
recognized brands including E45, Lutsine, Sweetex and Optrex.

BHI comprises brands, their associated intellectual property,
international sales operations and five manufacturing facilities
located in Nottingham (U.K.), Reinbek (Germany) and Bangkok
(Thailand).  As at 31 March 2005, BHI employed approximately
3,000 people.

For the year ended 31 March 2005 and before any adjustments for
discontinued operations, one-off items and the inclusion of the
manufacturing assets in Nottingham, BHI generated profits before
interest and taxation of GBP87.8 million on sales of GBP522.7
million.  As at 31 March 2005, BHI had net assets of GBP453.6
million and gross assets of GBP537.4 million.

Principal Terms of the Disposal

Under the terms of the Business and Share Sale Agreement, the
Disposal will be structured as a direct sale of shares in various
U.K. and overseas companies, including BHI's 51% equity interest
in a joint venture in India (subject to the consent of the joint
venture counterparty), together with the sale of the business
assets comprising BHI's three U.K. manufacturing facilities in
Nottingham.  The Agreement contains warranties and indemnities
given by Boots and The Boots Company plc, a wholly owned
subsidiary of Boots.

The Disposal is conditional, among other things, upon obtaining
clearances from the European and United States antitrust
authorities and the approval of Boots shareholders at the
Extraordinary General Meeting.  The Agreement will terminate
automatically if this approval is not received (or any of the
other conditions to completion set out in the Agreement are not
satisfied or waived) on or before 30 September 2006.

Description of the Special Dividend and Share Consolidation

Subject to and following completion of the Disposal, Boots
intends to retain GBP400 million of the proceeds for future
investment and return the balance, after deduction of anticipated
taxation and other costs associated with the transaction, to
shareholders through the Special Dividend.  The Special Dividend
is expected to return approximately GBP1.43 billion (equivalent
to approximately 200 pence per Boots share) to Boots
shareholders.  Simultaneously with the payment of the Special
Dividend, Boots proposes to implement a consolidation of Boots'
ordinary share capital.

The effect of the Share Consolidation will be to reduce the
number of Boots ordinary shares in issue.  Although, following
the Share Consolidation, each Boots shareholder will hold fewer
Boots ordinary shares than before, his or her shareholding as a
proportion of the total number of shares in issue, and therefore
his or her ownership in Boots, will be the same before and
immediately after the Share Consolidation, subject to adjustments
to reflect fractional entitlements.  The Share Consolidation
will, among other things, allow comparability of earnings per
share and share prices before and after the payment of the
Special Dividend and will preserve the position of Boots
optionholders who will not receive the Special Dividend.

Management and Employees

Following completion of the Disposal, the existing employment
rights, including pension rights, of all management and employees
of BHI will be fully safeguarded.  Reckitt Benckiser has also
confirmed that a substantial operating presence will be
maintained in Nottingham, Reinbek and Bangkok.

Approvals and Consents

The Disposal, Special Dividend and Share Consolidation will be
subject to the approval of Boots shareholders at the
Extraordinary General Meeting.  The Circular setting out the
notice of the Extraordinary General Meeting, including the Boots
directors' recommendation to vote in favor of the Disposal and
the Share Consolidation is expected to be sent to Boots
shareholders in early November.

The Disposal is also conditional, among other things, upon
obtaining clearances from the European and United States
anti-trust authorities.

The Disposal is expected to be completed in early 2006 and the
payment of the Special Dividend and the Share Consolidation are
expected to take place as soon as practicable after completion of
the Disposal.

Richard Baker, chief executive of Boots, said: "BHI has performed
strongly over the last three years, delivering excellent organic
growth and outperforming its market.  I firmly believe that the
prospects for the business remain strong and with the commitment
and focus that Reckitt Benckiser will bring to the business that
it will continue to thrive.  The BHI team has created significant
value for Boots shareholders and I am delighted to announce the
proposed return of approximately GBP1.43 billion to shareholders,
taking to over GBP3 billion the total returned to Boots
shareholders over the last 3 years.

"Together with the announcement of the proposed merger with
Alliance UniChem, this disposal allows us to focus on our plans
to create a world class pharmacy-led healthcare group."

Goldman Sachs International is acting as exclusive financial
adviser to Boots on the disposal of BHI.

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

          RECKITT BENCKISER PLC
          103-105 Bath Rd.
          Slough
          SL1 3UH, United Kingdom
          Phone: +44-1753-217-800
          Fax: +44-1753-217-899
          Web site: http://www.reckittbenckiser.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


CABLE & WIRELESS: Unaudited Half-year Revenue Down 6%
-----------------------------------------------------
At both its 2005 Annual General Meetings and at the announcement
of the acquisition of Energis on 16 August 2005, Cable & Wireless
plc reported that market conditions in the U.K. remained
challenging and that, as demand shifts to IP services, downward
pricing pressure on legacy revenue was intensifying, confirming
the requirement for scale and access to compete successfully in
the market.

In addition, pending the Office of Fair Trading approval of the
Energis transaction, a number of cost reduction initiatives in
the U.K. business have been suspended in advance of a clearer
understanding of the requirements of the combined business.

The U.K. revenue figure for 2005/6 first half shows total U.K.
revenue in line with management expectations, but with an overall
shift in the revenue mix from Retail to Carrier Services and with
weaker margins in the Retail businesses.

Since the announcement of the Energis transaction, there has also
been some loss of momentum in sales planning.

                      Unaudited    H2     H1  Reported Reported
United Kingdom         estimate                 change   change
Revenue
                                 2004/  2004/
                     H1(2005/6)     5      5   H1 v H2  H1 v H1

                           GBPm  GBPm    GBPm        %        %

Retail                      375   439     430    (15)%    (13)%

Carrier Services            390   353     380      11%       3%

Total revenue               765    792    810     (3)%     (6)%

Bulldog revenue figure for 2005/6 first half is GBP13 million
reflecting the shortcomings of the BT automated process and
consequent slower customer provisioning in the first quarter,
together with a temporary deferral of sales and marketing efforts
while the Ofcom investigation concludes.  Management focus has
been on customer care and has been encouraged by the improvement
in customer care metrics in the period.

At the time of the announcement of the Energis acquisition, the
industry and the company's activities in the U.K. are at a time
of transition from legacy products to IP technology using Next
Generation Networks.  The next step phase of performance
development is planned to take place as a result of the intended
combination of the U.K. business with Energis.  Early in the New
Year, it will update investors on its plans in the U.K. and set
out short and longer-term targets.

National Telcos continue to perform well and looking at the Group
as a whole (including Energis), although U.K. trading conditions
remain difficult, the company expects a satisfactory outcome for
the full year.

Energis Transaction Process

Following several weeks of information exchange between Cable &
Wireless and the OFT, the company has received an outline of the
issues that the OFT believes could potentially be raised by the
transaction.  This step neither increases nor decreases the
likelihood of referral but simply reflects the wealth of
information that has to be assimilated by the OFT in order that
it can reach an informed decision.  It is therefore possible that
the approval process will take longer than originally anticipated
with a corresponding potential delay to completion.

                        About the Company

Cable & Wireless is one of the world's leading international
communications companies.  It provides voice, data and IP
(Internet Protocol) services to business and residential
customers, as well as services to other telecoms carriers, mobile
operators and providers of content, applications and
Internet services.  Its principal operations are in the United
Kingdom, continental Europe, Asia, the Caribbean, Panama and the
Middle East.

CONTACT:  CABLE & WIRELESS PLC
          124 Theobalds Rd.
          London WC1X 8RX, United Kingdom
          Phone: +44-20-7315-4000
          Fax: +44-20-7315-5198
          Web site: http://www.cw.com/new/


CEN L LIMITED: Hires Administrator from Bishop Fleming
------------------------------------------------------
Jeremiah Anthony O'Sullivan and Stephen Anthony John Ramsbottom
(IP Nos 8333, 8990) of Bishop Fleming were appointed
administrators of Cen L Limited (Company No 04341396) on Sept.
27.  The company's registered office is at Priest House,
1624-1628 High Street, Knowle, Solihull B93 0JU.  Cen L Ltd. is
engaged in freight transport by road.

CONTACT:  BISHOP FLEMING
          Priest House, 1624-1628 High Street,
          Knowle, Solihull,
          West Midlands B93 0JU
          Web site: http://www.bishopfleming.co.uk


CENTURION LOGISTICS: Calls in Bishop Fleming Administrator
----------------------------------------------------------
Jeremiah Anthony O'Sullivan and Stephen Anthony John Ramsbottom
(IP Nos 8333 and 8990) of Bishop Fleming were appointed
administrators of Centurion Logistics Limited (Company No
04576517) on Sept. 27.  The company's registered office is at
Priest House, 1624-1628 High Street, Knowle, Solihull B93 0JU.
Centurion Logistics handles freight transport by road.

CONTACT:  CENTURION LOGISTICS LTD.
          41-42 Stafford Street
          Wednesbury, West Midlands WS107JX
          Phone: 0121 505 1181
          Fax: 0121 505 1131

          BISHOP FLEMING
          Priest House, 1624-1628 High Street,
          Knowle, Solihull,
          West Midlands B93 0JU
          Web site: http://www.bishopfleming.co.uk


CHARLES COLLINGE: Administrators Enter Firm
-------------------------------------------
R. D. Smailes and S. B. Ryman (IP Nos 8975, 4731) of Rothman
Pantall & Co. were appointed administrators of Charles Collinge
Architectural Ironmongery Ltd. (Company No 01606053) on Sept. 19.
The company's registered office is at 9-11 Cottage Green, London
SE5 7ST.

Charles Collinge supplies all types of architectural ironmongery.
Its products are available in polished brass, stainless steel,
polished aluminium & all finishes in chrome, nickel-plated,
bronze, antique brass.

CONTACT:  CHARLES COLLINGE ARCHITECTURAL IRONMONGERY LTD.
          9-11 Cottage Green
          London SE5 7ST
          United Kingdom
          Phone: (020) 7787 0007
          Fax: (020) 7787 0008

          ROTHMAN PANTALL & CO
          Clareville House,
          26-27 Oxendon Street,
          London SW1Y 4EP
          Phone: +44 (0) 20 7930 7272
          Fax: +44 (0) 20 7930 9849
          E-mail: london@rothman-pantall.co.uk
          Web site: http://www.rothman-pantall.co.uk


COUNTY CHEMICAL: Files for Liquidation
--------------------------------------
A. Escott, chairman of The County Chemical Company Limited,
informs that resolutions to wind up the company were passed at an
EGM held on Sept. 21 at 3 Chapel Court, 42 Holly Walk, Leamington
Spa, Warwickshire CV32 4YS.  David Halstead Bottomley of
Bottomley & Co, 3 Chapel Court, 42 Holly Walk, Leamington Spa,
Warwickshire CV32 4YS was appointed liquidator.

Creditors of the company are required on or before 31 October
2005 to send in their names and addresses, particulars of debt or
claims, and names and addresses of Solicitors (if any) to David
Halstead Bottomley.

CONTACT:  THE COUNTY CHEMICAL COMPANY LIMITED
          Chemico Works
          Highlands Road
          Shirley
          Solihull
          West Midlands
          B90 4LB
          United Kingdom
          Phone: 0121-711 2294
          Fax: 0121-705 2908

          BOTTOMLEY & CO
          3 Chapel Court
          42 Holly Walk
          Leamington Spa
          Warwickshire CV32 4YS
          Phone: 08700 676767
          Fax: 08700 676768
          E-mail: david@3chapelcourt.com


DANKA BUSINESS: Non-executive Director Retires
----------------------------------------------
Danka Business Systems plc has disclosed that Michael Gifford, a
non-executive Director of the company, will be retiring from the
Board at the conclusion of the forthcoming Annual General
Meeting, which is scheduled for Wednesday, 9 November 2005.

Mr. Gifford has chosen to leave the Board as he will be reaching
the age of 70 at the beginning of 2006, the standard age for
retirement for non-executive Directors.

Andrew McKenna, Danka's chairman, said: "We wish to thank Michael
for his valuable contribution to the company over a number of
years.  We wish him well in his retirement.  The Board will miss
his thoughtful and insightful input."

                        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


DETECH ENVIRONMENTAL: Creditors Meeting Set Thursday
----------------------------------------------------
The creditors of Detech Environmental Limited (Company No
02387251) will meet on October 13, 2005 at 11:30 a.m.  It will be
held at the Holiday Inn, Victoria Station Road, Sheffield S4 7YE.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to Richard Howard Toone and Kenneth William Touhey,
joint administrators of Chantrey Vellacott DFK, Russell Square
House, 10-12 Russell Square, London WC1B 5LF on or before October
12, 2005 not later than 12:00 noon.

CONTACT:  DETECH ENVIRONMENTAL LTD.
          Alexandere House
          Mansfield Road
          Corbriggs
          Chesterfield
          Derbyshire S41 0JW
          United Kingdom
          Phone: (01246) 540033
          Fax: (01246) 540077
          Web site: http://www.detech.co.uk

          CHANTREY VELLACOTT DFK LLP
          Russell Square House
          10-12 Russell Square
          London WC1B 5EH
          Phone: 020 7307 8200
          Fax: 020 7307 8222
          E-mails: kmurphy@cvdfk.com
                   wturner@cvdfk.com


DIJAM LIMITED: Liquidator's Report Out Next Month
-------------------------------------------------
The Final Meeting of DIJAM Limited and of its Creditors will be
held at Vantis Numerica, 4th Floor, Southfield House, 11
Liverpool Gardens, Worthing, West Sussex BN11 1RY, on 8 November
2005, at 10:00 a.m. and 10:15 a.m. respectively.

A proxy need not be a Member or Creditor of the Company.  Proxies
for use at either of the Meetings must be lodged at Vantis
Numerica, 4th Floor, Southfield House, 11 Liverpool Gardens,
Worthing, West Sussex BN11 1RY no later than 12:00 noon on the
business day preceding the date of the Meetings.

CONTACT:  DIJAM LTD.
          3 Hanson Street
          London
          W1W 6TB
          Phone: 020 88938842


DURACORD: Returns to Administration
-----------------------------------
Around 140 workers could lose their jobs if Duracord fails to
negotiate a continuity pact with customers or find a buyer, The
Herald said over the weekend.

The former Dunlop Textiles plant in Dunfermline called in
administrators from PricewaterhouseCoopers Friday, a year after
emerging from receivership.  Cree-8 Investments, a Scottish
business recovery group, last year bought the company, which
makes tyrecord fabric used in the production of car and truck
tyres.

Joint administrator Graham Martin said a third of the workforce
at its operations in Fife and Rochdale, Lancashire had already
been made redundant.  He said the overhead cost at both sites had
made the business not viable.  He doubts a buyer could be found.

"At the moment, we are in discussions with clients in an attempt
to secure ongoing business," he said.  "After that, we'll turn
our attentions to finding a buyer; but if that doesn't work,
we'll have to shut it down."

"This is an 80-year-old business and a real shame," he added.

Established in 2003, Cree-8 made its first splash by buying
Rotterdam-based steel construction firm Birkhoff, a Dutch
subsidiary of erstwhile Motherwell Bridge, two years ago.  The
group is made up of Scottish businessmen David Mackie, Graham
Muir and Derek Walker.

CONTACT:  DURACORD EUROPE LTD.
          Pilmuir Works
          Pilmuir Street
          Dunfermline KY12 0QA
          Fife
          Phone: 01383 722568
          Fax: 01383 722915


EAST CENTRAL: Office Supplies Wholesaler in Administration
----------------------------------------------------------
East Central Group Ltd. has fallen into administration due to
outstanding debt and cash flow problems, said ICC Credit.

Formed in October 1999, East Central is a U.K.-based business
support services company, which primarily provides a channel to
market in the U.K., Europe and United States, for specific
telecommunications equipment and electronic office supplies such
as fixed wire telephones and other telecoms equipment, printers,
fax machines, copiers and a range of office consumables.

ICC Credit noted that East Central's figures in 2003 and 2004 did
not send clear signals that the company was facing a financial
crisis.  Turnover amounted to GBP86 million in 2003, and grew to
GBP91.6 million the following year.  It reported profit of GBP1.8
million last year, up from GBP1.6 million in 2003.

However, in the company's Report and Consolidated Financial
Statement for the year 2004, Managing Director Rob Kay revealed
the company's debt and cash flow troubles.  Tony Flynn, Martin
Ellis and Ian Carr of Grant Thornton were appointed joint
administrators of East Central on September 26, 2005.

According to its Web site, the company continues to trade in the
short term under the supervision of the joint administrators and
orders placed during the administration period will be honored,
provided they are pre-approved by a member of the administrators'
staff.

Meanwhile, Matthew Debbage, Head of Product and Marketing, ICC
Credit said: "Unfortunately East Central Group has joined the 9%
of companies in this sector currently in liquidation."

According to their research, 11% of the companies in the
wholesale industry have County Court Judgments filed against
them, he added.

                            *   *   *

Martin Ellis, Anthony Flynn (IP Nos 8687, 8619) and Ian Carr (IP
No 8741) of Grant Thornton were appointed administrators of East
Central Distribution Limited (Company No 03854389) on Sept. 26.

CONTACT:  EAST CENTRAL GROUP LTD.
          51 Tallon Road
          Hutton Industrial Estate
          Brentwood
          Essex CM13 1TG
          Phone: 01277 237 700
          Fax: 01277 237 887
          E-mail: jon.duckham@eastcentral.com
          Web site: http://www.eastcentral.com

     GRANT THORNTON U.K. LLP
          Grant Thornton House
          Melton Street, Euston Square
          London NW1 2EP
          Web site: http://www.grant-thornton.co.uk

          Natalie Leafe
          Phone/Fax: 0870 991 2503
          E-mail: natalie.leafe@gtuk.com

          Hadley Chilton
          Phone/Fax: 0870 991 2409
          E-mail: hadley.j.chilton@gtuk.com


ENVAURA LIMITED: Final Meeting Set Later this Month
---------------------------------------------------
D. I. L. Wald, liquidator of Envaura Limited, informs that the
Final Meetings of the Members and Creditors of the Company will
be held at the offices of D. Wald & Co, 18 Sapcote Trading
Centre, Dudden Hill Lane, London NW10 2DH, on Wednesday 26
October 2005, at 11:00 a.m. and 11:15 a.m. respectively.

Envaura Ltd. specializes in commercial, residential, new home
construction and government contract cleaning services throughout
the U.K.

CONTACT:  ENVAURA LTD.
          6a The Parade
          Wilmot Road
          Carshalton
          SM5 3RL
          Phone: 02086696446
          Fax: 02086696426


GOSHAWK INSURANCE: Raises Loss Estimate for 'Katrina'
-----------------------------------------------------
GoshawK Insurance Holdings plc announced its preliminary net loss
estimate on 6 September 2005 based on the very limited
information available to the company at the time.  Since that
time the market loss estimates have nearly doubled and it has
received additional loss information.  This has caused the
company to increase its gross loss estimate by 30% from
US$99 million to US$130 million.  This results in an increased
net loss estimate for Katrina from a range of US$25 million to
US$30 million to a revised total of US$60 million.

Hurricane Rita

Hurricane Rita was a most severe category 5 storm as it moved
through the Gulf of Mexico.  As a result there has been
catastrophic damage to offshore energy interests and GoshawK will
be impacted by these losses.  Rita weakened to a category 3
hurricane at landfall so property damage was less than originally
feared.  Initial net loss estimate of US$30 million assumes a
total loss to the remaining marine retrocession limits.

Capital Raising

GoshawK's two core lines of property and marine business have
been heavily impacted by the unprecedented losses of 2004 and
2005.  As a result, 2006 is expected to provide the best
underwriting conditions in these two lines since 1992, driven by
supply and demand imbalances, higher capital requirements and
fundamental changes in the assessment of frequency and severity
of windstorm activity.

The Board is currently considering a small number of detailed
proposals, which would either entail a significant capital
injection into Rosemont Re or a sale of Rosemont Re.  Subject to
reaffirmation of Rosemont Re's rating by A.M. Best, the Board
believes that any one of these proposals, if consummated, would
allow Rosemont Re to participate fully in the excellent trading
conditions expected in 2006 as a much stronger company.  A firm
proposal will be put to shareholders as soon as possible.

If the Company is unsuccessful in raising capital, the Company's
ability to write new business will be severely impaired.

                        About the Company

GoshawK Insurance Holdings plc is a London-based holding company
which, through its subsidiary Rosemont Reinsurance Limited,
underwrites specialist reinsurance business for its clients
internationally.

For the year ended 31 December 2004, it reported loss after tax
of US$3 million compared to a loss after tax of US$108 million a
year earlier.  Together with reserve movements of US$4 million,
this represented a decrease of US$7 million in net assets, which
stand at US$172 million.

CONTACT:  GOSHAWK INSURANCE HOLDINGS PLC
          52 Jermyn Street
          London SW1Y 6LX
          Phone: +44 (0) 20 7499 2355
          Fax: +44 (0) 20 7491 7247
          Web site: http://www.goshawk.co.uk/


INEOS GROUP: Offers US$9 Billion for BP's Olefins, Refining Unit
----------------------------------------------------------------
INEOS Group on Friday announced the acquisition of Innovene, BP's
olefins and derivatives and refining subsidiary, for US$9
billion.  Following completion, the combined businesses will have
a turnover of more than US$30 billion, making the expanded INEOS
group the world's 4th largest independent petrochemicals company.

The acquisition of Innovene fits with INEOS's strategy to grow
its petrochemical business and the addition of the Lavera and
Grangemouth refineries further integrates the business upstream.
INEOS was formed by a management buyout of the former BP
petrochemicals asset in Antwerp, which was led by Jim Ratcliffe,
chief executive of INEOS.  The company has subsequently grown
through a series of successful acquisitions; it has a turnover of
US$8 billion and employs 7,500 employees worldwide.

Innovene is a 100 percent BP-owned group created in April 2005.
It has 8,000 staff, manufacturing facilities in seven countries
in North America and Europe; US$25 billion estimated sales for
2005; US$13 billion of gross assets; US$9.9 billion of net
assets; pre-tax profits (Jan-Jun 2005) of US$0.7 billion; 18
million tons of annual petrochemicals capacity and 412,000
barrels per day of crude oil refining capacity.

"This is a transformational acquisition elevating INEOS to the
world's fourth largest independent petrochemicals company," said
Jim Ratcliffe, INEOS chief executive.  "INEOS and Innovene share
a BP heritage of high quality people, assets and technology and
are highly complementary businesses."

Lord Browne, BP's Group Chief Executive said the decision to sell
Innovene in its entirety removed any uncertainty around market
conditions at the time of an IPO, as well as would-be investors'
concerns about BP's remaining stake and future intentions.

"Innovene has proved to be a very attractive business to its
peers in the chemicals sector," said Lord Browne, BP Group Chief
Executive. "This deal is the very best of a number of good
offers. I'm delighted with the outcome which is excellent for
BP's shareholders and for Innovene's future."

Subject to regulatory approval by the competition authorities in
the U.S. and Europe, INEOS and BP plan to complete the deal
around the beginning of 2006.

INEOS is a rapidly growing manufacturer of petrochemicals,
speciality and intermediate chemicals and polymers.  It comprises
10 businesses each with a blue chip, chemical company heritage,
and its production network includes 46 manufacturing facilities
in 14 countries throughout the world.  In 2004, INEOS had
approximately 7,500 employees and sales of more than US$8
billion.

BP announced the separation of its olefins and derivatives
business in April 2004.  It then added two refineries
(Grangemouth, U.K., and Lavera, France) to the business in
November 2004, and created the 100% BP-owned Innovene subsidiary
in April 2005.

Innovene opened its global headquarters in downtown Chicago in
April 2005.  The company's European headquarters is in Staines,
near London.  Innovene's North American headquarters is in the
Greater Houston area.  Its headquarters in Asia are in Shanghai.

CONTACT:  INEOS GROUP
          Richard Longden
          Phone: 0238 0287081
          Web site: http://www.ineos.com

          BP Press Office
          Phone: +44 (0) 207 496 4076/4827


INEOS GROUP: Rating Cut to 'BB-' on Planned Takeover of Innovene
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its 'BB' long-term
corporate credit rating on Ineos Group Holdings PLC to 'BB-' from
'BB' and placed the ratings on Ineos and related entities on
CreditWatch with negative implications, owing to the planned
acquisition of BP PLC's (AA+/Stable/A-1+) petrochemicals
division, Innovene, for a total consideration of about US$9
billion.

"The CreditWatch placement follows the announcement of Ineos'
planned acquisition of Innovene, funded mainly with debt," said
Standard & Poor's credit analyst Khaled Zitouni.  Standard &
Poor's expects that this will significantly increase Ineos
group's current debt leverage.  "Following completion, the
combined businesses are expected to have a turnover of more than
$30 billion, making the expanded Ineos one of world's largest
petrochemical companies," he added.

Standard & Poor's expects the company to have a satisfactory
business risk profile, but to be highly leveraged. In addition,
the risk associated with combining several companies into one
group is expected to be high.

Standard & Poor's will monitor the developments and seek to
resolve the CreditWatch placement within the next few months,
after meeting with management.  A several notch downgrade is
possible.

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:  INEOS GROUP HOLDINGS PLC
          Hawkslease, Chapel Lane
          Lyndhurst, Hampshire SO43 7FF
          United Kingdom
          Phone: +44-23-8028-7067
          Fax: +44-23-8028-7054
          Web site: http://www.ineos.com/


IN FLIGHT: Sets Final Meeting October 24
----------------------------------------
R. Valentine, Liquidator of In Flight Services Personnel Ltd.,
informs that a Final Meeting of the Members of the Company will
be held at the offices of Valentine & Co, 4 Dancastle Court, 14
Arcadia Avenue, London N3 2HS, on Monday 24 October 2005, at
11:00 a.m., to be followed at 11:15 a.m. by a Final Meeting of
Creditors

In accordance with Rule 4.186(b) and Rule 11.7(b) of the
Insolvency Rules, the liquidation confirms that no Dividend will
be made in relation to the liquidation of the Company.  Proxies
to be used at the Meetings must be lodged with the Liquidator at
4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS, no later
than 12:00 noon on the preceding working day.

CONTACT:  IN FLIGHT SERVICES PERSONNEL LTD.
          Phone: 020 8681 2184


INTERTEK GROUP: Acquires Westport for US$9 Million
--------------------------------------------------
Intertek Group plc has revealed the acquisition of Westport
Technology Center from Halliburton Energy Services, Inc. Intertek
has purchased from Halliburton, the business and net assets of
Westport valued at US$9.0 million (GBP5.1 million).

Westport, based in Houston, Texas, provides high-end exploration
and production laboratory services including consulting and
project management.  The assets include specialized laboratory
equipment and land and buildings.

Westport brings new specialist technology to Intertek's Caleb
Brett division enabling it to provide an enhanced range of
services to its client base and Intertek Caleb Brett will provide
Westport with the resources and global infrastructure to grow
internationally.

This acquisition follows Intertek's outsourcing strategy taking
on the management, control and ownership of customers' non-core
analytical laboratories.

                        About the Company

Intertek is an international testing, inspection and
certification organization, which assesses customers' products
and commodities against a wide range of safety, regulatory,
quality and performance standards and certifies the management
systems of customers.  Intertek has 294 laboratories and over
13,500 people around the world and is increasingly undertaking
outsourced testing work for its customers.

At the end of 2004, Intertek's shareholders' funds remained
negative at GBP3.6 million, but down from -GBP43.1 million at 31
December 2003.  The deficit stems principally from the write-off
of goodwill in 1996 when the Group was purchased from its former
owners.  This amounted to GBP229.9 million at 31 December 2004.
The Group's net debt at 31 December 2004 was GBP112.4 million
compared to GBP132.2 million.

CONTACT:  INTERTEK GROUP PLC
          25 Savile Row
          London
          W1S 2ES, United Kingdom
          Phone: +44-20-7396-3400
          Fax: +44-20-7396-3480
          Web site: http://www.intertek.com

          Aston Swift, Treasurer
          Investor Relations
          E-mail: aston.swift@intertek.com

          TULCHAN COMMUNICATIONS
          Tim Lynch
          Phone: +44 (0) 20 7353 4200
          E-mail: tlynch@tulchangroup.com


KINGSTON HOLIDAY: Voluntarily Files for Liquidation
---------------------------------------------------
East Hull-based caravan manufacturer Kingston Holiday Homes Ltd.
has gone into voluntary liquidation, according to Hull Daily
Mail.  The wind-up resulted to the redundancy of all of the
company's 12 staff.

Kingston Holiday is a victim of the general sluggish demand in
the industry that started in May.  The downturn saw other players
lay off hundreds of workers in East Yorkshire.

Kingston director Hamid Ghadamian said the firm is unable to put
forward the same discounts now offered by larger manufacturers.
He said Kingston Holiday was unable to win significant orders to
keep it trading over the winter months.  It got some projects at
the annual Hull and East Riding Caravan Manufacturers'
Association (HERCMA) caravan show at Cottingham, but these are
not enough.  It already sold its Kingston Holiday Homes brand
name to another company.

Meanwhile, David Ritchie of HERCMA said that for many other
exhibitors, the Cottingham shows were a success.  Regarding the
current market situation, he said it usually takes about eight
months or a year to change.

Kingston was founded in 2003 and at its peak employed 18 people.

CONTACT:  KINGSTON HOLIDAY HOMES LTD.
          Unit 5 Central Park, Cornwall Street
          Kingston upon Hull, HU8 8AN
          Phone: 01482 580058
          Fax: 01482 580035
          E-mail: info@kingstonholidayhomes.co.uk
          Web site: http://www.kingstonholidayhomes.co.uk


LANGTREE SKILLSCENTER: Hires Antony Batty & Co. as Administrator
----------------------------------------------------------------
William Antony Batty (IP No 1049) of Antony Batty & Co. was
appointed administrator of Langtree Skillscenter Limited (Company
No 03944926) on Sept. 20.  The company's registered office is at
New House, Suite 24, 67-68 Hatton Garden, London EC1N 8JY.

SkillsCenter, with over twenty years of experience, is one of the
North West's most dynamic information technology specialists.
Visit http://www.skillscenter.co.uk/for more information.

CONTACT:  LANGTREE SKILLSCENTER LIMITED
          Suite S1
          Coppull Ent Centre
          Mill Lane, Coppull,
          Lancashire PR7 5BW
          Phone: +44 (0) 1257- 471148
          Fax: +44 (0) 1257- 792607
          E-mail: inform@skillscenter.co.uk

          ANTONY BATTY & COMPANY
          New House
          Suite 24
          67-68 Hatton Garden
          London EC1N 8JY
          Phone: 020 7831 1234
          Fax: 020 7430 2727
          E-mail: antonybatty@hotmail.com


LIVE PUBLISHING: Administrators Take over Operation
---------------------------------------------------
David Leighton Cockshott and Paul Andrew Whitwam (IP Nos 8974 and
8346) of BWC Business Solutions were appointed administrators of
Live Publishing International Limited (Company No 02898590) on
Sept. 27.  The company's registered office is at BWC Business
Solutions, 8 Park Place, Leeds LS1 2RU.

Live Publishing produces a range of great PC, console and movie
magazines.  Visit http://www.livepublishing.co.uk/for more
information.

CONTACT:  LIVE PUBLISHING
          Europa House, Adlington Park,
          Macclesfield, Cheshire, SK10 4NP
          United Kingdom
          Phone: 01625 855000
          Fax: 01625 855071

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


LYRESCOURT LTD.: Final Meeting Set November
-------------------------------------------
M. J. Botwood, Liquidator of Lyrescourt Ltd., informs that a
Final Meeting of the Members of the Company will be held at 3rd
Floor, Regent House, Bath Avenue, Wolverhampton WV1 4EG, on 25
November 2005, at 10:00 a.m., to be followed at 10:15 a.m. by a
Final Meeting of Creditors

A Member or Creditor entitled to attend and vote at the Meetings
is entitled to appoint a proxy holder to attend and vote instead
of him.  Proxies to be used at the Meetings must be lodged with
the Liquidator at Regent House, Bath Avenue, Wolverhampton WV1
4EG no later than 12:00 noon on the preceding day.

CONTACT:  LYRESCOURT LTD.
          Haybrook
          Halesfield
          Telford
          Shropshire
          TF7 4QW
          Phone: +44 (0) 1952 581408
          Fax: +44 (0) 1952 586783


MARCONI CORPORATION: Mum on Ericsson's Takeover Bid
---------------------------------------------------
LM Ericsson has reportedly tabled the highest bid for Marconi
Corporation plc, according to the Sunday Telegraph.

According to the paper, the bid by the Swedish telecommunications
giant had eclipsed the offer made by Marconi's Chinese partner
Huawei Technologies.  If it materializes, the deal with Ericsson
will see 80% of Marconi still intact, while the rest will be spun
off, said The Mail on Sunday, quoting sources privy to the
transaction.

Marconi spokesman David Beck dismissed the reports as speculation
and declined to comment on the matter.  Pia Gideon, Ericsson's
vice president of markets and external communications, said: "As
a listed company the praxis is to never comment on speculation,
and if we do something that has implications for the stock market
we'll announce it."

Marconi last month confirmed it was still in talks with possible
buyers, but did not name names or provide details.  Dealers
speculated that the approach could have come from Huawei.  In
August, discussions between the two companies were widely
speculated to result in a takeover, valuing Marconi at more than
GBP600 million (EUR864 million).

Headquartered in Warwickshire, Marconi is a former broad-based
industrial concern, which transformed itself into a telecoms
equipment maker hoping to benefit from the dotcom boom.  When the
technology bubble collapsed four years ago, Marconi shocked the
market with a profits warning that cut much of its share value.

In an effort to avoid collapse, the company entered into a scheme
of arrangement that made the Corp. part of the business of the
new holding company.  The scheme of arrangement took effect May
2003.  Its efforts to recover from the crisis was dealt a blow in
April when it failed to win work in BT's GBP10 billion upgrade of
U.K. infrastructure.

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

          LM ERICSSON
          Torshamnsgatan 23, Kista
          SE-164 83 Stockholm
          Sweden
          Phone: +46-8-719-0000
          Fax: +46-8-18-40-85
          Web site: http://www.ericsson.com


MASS SPECTROMETRY: Creditors Meeting Next Week
----------------------------------------------
The creditors of Mass Spectrometry International Limited (Company
No 01916424) will meet on October 18, 2005 at 10:00 a.m.  It will
be held at DTE House, Hollins Mount, Hollins Lane, Bury BL9 8AT.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to J. M. Titley and A. Poxon, joint administrators of
DTE Leonard Curtis, DTE House, Hollins Mount, Hollins Lane, Bury
BL9 8AT on or before October 17, 2005 not later than 12:00 noon.

                            *   *   *

Mass Spectrometry International Limited manufactures high
performance analytical instrumentation, specializing in the
support, design and manufacture of high performance magnetic
sector mass spectrometers.  Visit http://www.massint.co.uk/for
more information.

CONTACT:  MASS SPECTROMETRY INTERNATIONAL LTD.
          Unit C, Tudor Road
          Hanover Business Park
          Altrincham
          Cheshire WA14 5RZ
          United Kingdom
          Phone: +44 (0) 161 929 7583
          Fax: +44 (0) 161 941 5540

          DTE LEONARD CURTIS
          DTE House, Hollins Mount,
          Bury BL9 8AT
          Phone: 0161 767 1200
          Fax: 0161 767 1201
          Web site: http://www.dtegroup.com


MEPC LTD.: Ex-Dwyer Chief Joins Board
-------------------------------------
MEPC Limited has revealed that Rick de Blaby, formerly chief
executive of Dwyer plc, will be joining the Board as Chief
Executive with effect from 7 October 2005, succeeding Richard
Harrold who will retire from the Board on 8 December 2005.

Alasdair Evans, director - Corporate Finance of Hermes Property
Asset Management Limited, will also join the board with effect
from 7 October 2005 as a non-executive director.

The Board wishes to thank Richard Harrold for his substantial
contribution to the success of the company in recent years.

                        About the Company

MEPC Ltd. is a leading U.K. company in the ownership, development
and operation of quality commercial property.  MEPC is wholly
owned by Leconport Estates, a company owned by clients of Hermes
Investment Management Limited, primarily the BT
Pension Scheme.

Specializing in business parks, MEPC has the skills, strength and
prominent profile in the commercial property market required to
provide property solutions that work for current and prospective
occupiers.

MEPC had GBP906.1 million of property assets at March 2005 and an
annualized rent roll of GBP61 million.  The business park
portfolio at FY04 was geographically split on a gross rental
basis: South East England 82%, Rest of U.K. 18%.

On September 4, Fitch Ratings affirmed MEPC's Senior Unsecured
and Short-term ratings at 'B' and 'B', respectively.  The Outlook
remains Negative.  This affirmation follows the announcement that
MEPC will repay the outstanding QUIPS (Quarterly Income Preferred
Security) preference shares and other debt liabilities with a
prospective new GBP370 million secured debt financing of a
portfolio of MEPC's properties and with a new GBP85 million
secured facility.

The Negative Outlook reflects the possibility that further funds
could be repatriated from MEPC to the holding company Leconport
Estates as additional inter-company loans.  If additional funds
are channeled upstream, this could further reduce MEPC's
financial flexibility.  MEPC's financial parameters are tight:
although marginally improving (gross interest cover of around
1.0x at FY04) they are still dependent on interest receivable on
the Leconport loan (itself aided by dividend receipts from MEPC)
to cover MEPC's expensive cost of funds.

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


MG ROVER: Longbridge Revival Talks Still on Track
-------------------------------------------------
GB Sports Car Co. has said negotiations for the revival of MG
Rover's Longbridge plant are still underway, reported the
Financial Times.

This is in response to doubts expressed by Rover administrator
Rob Hunt of PricewaterhouseCoopers as to whether production at
the site would resume.

GB Sports has already agreed with Rover's new owner Nanjing
Automobile (Group) Corporation to manufacture sports cars at
Longbridge.  Last month, Nanjing unveiled plans to produce
100,000 cars a year at the plant within five years starting 2007,
creating up to 1,200 jobs in the process.

On Sunday, Mr. Hunt told the Independent: "As a realist, I
question whether anything else can be done.  I am not convinced
large-scale manufacturing can be done there."

However, PwC downplayed Mr. Hunt's comments, stressing it was
mere speculation and did not reflect the administrators'
position.

GB Sports also said Mr. Hunt was "not privy to all the
information that Nanjing and ourselves have."

MG Rover Group Limited produces automobiles under the Rover and
MG brands, together with engine maker Powertrain Ltd.  The
company has been facing huge losses in recent years, reaching
GBP64.1 million in 2004, which it blamed on reduced sales.

Previously owned by Phoenix Venture Holdings, the company
collapsed on April 8 after a tie-up with China's largest
carmaker, Shanghai Automotive Industry Corporation (SAIC), failed
to materialize.  Days later, eight European subsidiaries followed
suit.  In July 2005, Nanjing bought the assets of both
MG Rover and Powertrain Ltd. for GBP53 million.

Rover's administration is expected to continue until next year,
with over 2,000 MG Rover cars still to be sold.

Nanjing and rival Chinese carmaker Shanghai Automotive Industry
Corporation were reportedly expected to resolve their ownership
row over MG Rover soon.  SAIC wooed MG Rover after its collapse,
but had only managed to secure the intellectual property rights
to the Rover 25 and 75, and K-Series engine.

CONTACT:  MG ROVER GROUP LIMITED
          Longbridge, Bickenhill
          Birmingham
          B31 2TB, United Kingdom
          Phone: +44-121-475-2101
          Fax: +44-121-482-2403
          Web site: http://www1.mg-rover.com

          NANJING AUTOMOBILE (GROUP) CORPORATION
          General Management Division
          Phone: 86-25-3432671
          Fax: 86-25-3111295 3417873
          E-mail: bnj3111037@jlonline.com
          Web site: http://www.nanqi.com.cn

          PRICEWATERHOUSECOOPERS
          Jon Bunn
          UK Head of Media Relations
          Phone: 020 7213 3279
          Mobile: 07808 632167

          Jenny Britton
          Business Recovery Services PR Manager
          Phone: 020 7212 2970
          Mobile: 07855 522485


MILLBANK SERVICES: Liquidator to Deliver Report Next Month
----------------------------------------------------------
A. Stanway, Joint Liquidator of Millbank Services Limited
(formerly Lawleys Limited) informs that the Final Meeting of
Members of the Company will be held at the offices of
PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT, on
16 November 2005, at 10:30 a.m.

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

CONTACT:  MILLBANK SERVICES (SILSDEN) LTD.
          Shackleton Ghyll Farm, Main Street
          Cononley
          West Yorkshire
          Phone: 01535 633338


NEWBEACH LTD.: Final Meetings Set November
------------------------------------------
M. Moses, Joint Liquidator of Newbeach Ltd., informs that the
Final Meeting of the Company and the Final Meeting of Creditors
be held at Vantis Numerica, PO Box 2653, 66 Wigmore Street,
London W1A 3RT, on 18 November 2005, at 10:00 a.m. and 10:15 a.m.
respectively.

A Member or Creditor entitled to attend and vote either of the
above Meetings may appoint a proxy to attend and vote instead of
him or her.  A proxy need not be a Member or Creditor of the
Company.  Proxies for use at either of the Meetings must be
lodged at Vantis Numerica, PO Box 2653, 66 Wigmore Street, London
W1A 3RT, no later than 12:00 noon on the business day preceding
the date of the Meetings.

CONTACT:  NEWBEACH LTD.
          226 Toddington Road, Luton
          Bedfordshire LU4 9DZ
          Phone: 01582585485


OAKDALE PRINTING: Liquidator's Final Report Out November
--------------------------------------------------------
C. S. Jackson, Joint Liquidator of Oakdale Printing Company
Limited, informs that a Final Meeting of the Members of the
Company will be held at Tenon Recovery, Highfield Court,
Tollgate, Chandlers Ford, Hampshire SO53 3TZ, on 2 November 2005,
at 11:00 a.m., to be followed at 11:30 a.m. by a Final Meeting of
Creditors.

Proxies to be used at the Meetings must be lodged at Highfield
Court, Tollgate, Chandlers Ford, Hampshire SO53 3TZ, no later
than 12:00 noon on the preceding business day.

CONTACT:  OAKDALE PRINTING CO LTD.
          62-64 Nuffield Road, Poole, Dorset BH17 0RS
          Phone: 01202675706


OLD OAK: Creditors Meeting Set November
---------------------------------------
L. Bednash, Liquidator of Old Oak Garage (Willesden) Limited,
informs that Meetings of the Members and Creditors of the Company
will be held at the offices of David Rubin & Partners, Pearl
Assurance House, 319 Ballards Lane, London N12 8LY, on 17
November 2005, at 10:00 a.m. and 10:15 a.m. respectively.

Proxies to be used at either Meeting must be lodged with the
Liquidator at Pearl Assurance House, 319 Ballards Lane, London
N12 8LY, not later than 4:00 p.m. of the business day before the
Meeting.

CONTACT:  OLD OAK GARAGE (WILLESDEN) LTD.
          Old Oak Common Lane, Harlesden, London NW10 6DT
          Phone: 02089652505


PAUL STEIGER: Liquidator's Report Out Early Next Month
------------------------------------------------------
R. S Harding, Joint Liquidator of Paul Steiger Limited, informs
that the Final General Meeting of the Company will be held at the
offices of Elwell Watchorn & Saxton LLP, Cumberland House, 35
Park Row, Nottingham NG1 6EE, on 4 November 2005, at 3:00 p.m.,
to be followed at 3:30 p.m. by the Final Meeting of the
Creditors.

CONTACT:  PAUL STEIGER LTD.
          Elwell Watch & Saxton, Cumberland House
          Nottingham, Nottinghamshire NG1 6EE
          Phone: 01623 754266


PHOTOPLUS PROCESSING: Calls in Liquidators from Begbies
-------------------------------------------------------
Members and creditors of Photoplus Processing Limited appointed
D. Bailey and G. N. Lee of Begbies Traynor, Elliot House, 151
Deansgate, Manchester M3 3BP as liquidators of the company on
Sept. 23.

The firm processes still photographic films.

CONTACT:  PHOTOPLUS PROCESSING LTD.
          Intec House, Priestley Road, Manchester
          Lancashire M28 2LX

          BEGBIES TRAYNOR
          Elliot House
          151 Deansgate
          Manchester M3 3BP
          Phone: 0161 839 0900
          Fax: 0161 839 7436
          E-mail: manchester@begbies-traynor.com
          Web site: http://www.begbies.com


PREMIER SECURITY: Creditors Meeting Set Next Week
-------------------------------------------------
A Meeting of the Creditors of Premier Security & Protection
Limited will be held at The Grange, 100 High Street, London N14
6TB, on Wednesday 19 October 2005, at 3:00 p.m.

Creditors wishing to vote at the Meeting must (unless they are
individual Creditors attending in person) ensure their proxies
are received at the offices of Bond Partners LLP, The Grange, 100
High Street, London N14 6TG, by no later than 12:00 noon on the
business day preceding that of the Meeting of Creditors, together
with a statement of the amount claimed.

A list of names and addresses of the Company's Creditors may be
inspected, free of charge, at the offices of Bond Partners LLP,
The Grange, 100 High Street, London N14 6TB, between 10:00 a.m.
and 4:00 p.m. on the two business days preceding the Meeting.

CONTACT:  PREMIER SECURITY & PROTECTION LTD.
          Tavistock Chambers, London, WC1A 2SE
          Phone: 020 7831 4466


PRIMARY IMAGE: Calls in Administrator from Smith & Williamson
-------------------------------------------------------------
Stephen Cork (IP No 8627) and Joanne Milner (IP No 8761) of Smith
& Williamson were appointed administrators of Primary Image
(Graphics) Limited (Company No 2248910) on Sept. 27.

With 25 years' experience at the forefront of technology, Primary
Image is the provider of advanced simulator technology for
training applications.  It offers a complete range of systems
that are fully scalable and flexible according to different
budget and performance requirements.  Mr. Alan Devenport is the
company's managing director.  Visit http://www.primary-image.com/
for more information.

CONTACT:  PRIMARY IMAGE (GRAPHICS) LTD.
          Millbank House
          171-185 Ewell Road
          Surbiton KT6 6AP
          Surrey
          Phone: 020 8339 9669
          Fax: 020 8339 9091

          SMITH & WILLIAMSON
          Prospect House
          2 Athenaeum Road
          London N20 9YU
          Phone: 020 8492 8600
          Fax: 020 8492 8601
          E-mail: jem1@smith.williamson.co.uk


ROYAL & SUNALLIANCE: To Unveil Nine-month Results Next Month
------------------------------------------------------------
Royal & SunAlliance Insurance Group plc will release its
nine-month results 2005 on Thursday, 10 November 2005, at 7:00
a.m.   A briefing to analysts will take place via conference call
and can be accessed live at http://www.royalsunalliance.com,the
company's Web site.

                        About the Company

Royal & SunAlliance is a FTSE 100 company, listed on the London
Stock Exchange and in New York.  The group consists of three
regions -- U.K., Scandinavia and International -- with operations
in 30 countries, providing general insurance products to over 20
million customers worldwide.

Last month, Royal & SunAlliance revealed a provisional estimate
of up to GBP25 million, net of reinsurance recoveries, for claims
arising from the recent hurricane (Katrina) in the U.S.  The
losses are expected to arise in the Group's Marine and Global and
Risk Managed portfolios.  The provisional loss estimate includes
a very limited exposure from the Group's U.S. business following
its restructure in 2003.

The company has decided to transfer its employees from pensions
based on final salaries to packages based on average career
earnings.  It aims to cut about GBP180 million from the company's
GBP500 million pension fund deficit.

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

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


SORTYNE LIMITED: Hires CBA Administrator
----------------------------------------
Neil Richard Gibson (IP No 9213) of CBA was appointed
administrator of Sortyne Limited (t/a Streetlife - Company No
01492593) on Sept. 28.  The company's registered office is at 39
Castle Street, Leicester LE1 5WN.

CONTACT:  CBA
          39 Castle Street
          Leicester LE1 5WN
          Phone: (0116) 262 6804
          Fax: (0116) 217 1404
          E-mail: leics@cba-insolvency.co.uk
          Web site: http://www.cba-insolvency.co.uk


STANDING ROOM: Liquidator to Deliver Report October 24
------------------------------------------------------
K. B. Stout, Liquidator of Standing Room Only Limited, informs
that a Final Meeting of the Members of the Company will be held
at 8-10 Eastern Road, Romford, Essex RM1 3PJ, on 24 October 2005,
at 2:00 p.m., followed at 2:30 p.m. by a Final Meeting of
Creditors.

A Member or Creditor entitled to attend and vote at either of the
above Meetings may appoint a proxy holder to attend instead of
him.  A proxy holder need not be a Member or Creditor of the
Company.  Proxies for both Meetings must be lodged at the above
address not later than 12:00 noon on 21 October 2005.

CONTACT:  STANDING ROOM ONLY LTD.
          Business Village, Brookmhill Road
          London SW18 4JQ
          Web site: http://www.sroaudiences.com/
          Phone: 02088700111


STAR MANUFACTURING: Names Kay Johnson Gee Administrator
-------------------------------------------------------
Jonathan Elman Avery-Gee (IP No 1549) of Kay Johnson Gee was
appointed administrator of Star Manufacturing Limited (Company No
03984777) on Sept. 28.  The company's registered office is at
Griffin Court, 201 Chapel Street, Manchester M3 5EQ.

Established in 1983, Star Manufacturing supplies decorative
coatings for a variety of substrates to a worldwide customer base
clients with its main focus in cosmetics, fragrances and
toiletries, pharmaceutical/medical, drinks and beverages,
promotional merchandising, consumer goods and giftware.  The
company is base in Deeside, North Wales and employs approximately
70 workers.  Visit http://www.star-manufacturing.com/for more
information.

CONTACT:  STAR MANUFACTURING LIMITED
          29 First Avenue,
          Deeside Industrial Park,
          Deeside, Flintshire, CH5 2NU
          United Kingdom
          Phone: 0044(0) 1244 280198
          Fax: 0044(0) 1244 288540
          E-mail: enquiry@star-manufacturing.com

          KAY JOHNSON GEE
          Griffin Court
          201 Chapel Street
          Salford, Manchester
          Greater Manchester M3 5EQ
          Phone: 0161 832 6221
          Fax: 0161 834 8479


THE FARM: Last-minute Claim Holds up Rescue Plan
------------------------------------------------
The examiner of The Farm Media Group has postponed presenting a
scheme of arrangement before the High Court for approval, said
The Post.

This was due to a last-minute claim by Sound Studio, alleging
that some of its assets were transferred to The Farm without
proper authorization.  Sound Studio, which was created to
facilitate BES (Business Expansion Scheme) investment in The Farm
in the 1990s, fell into liquidation in November 2004.

In July, The Farm was put into examinership with debt of over
EUR5.4 million.  Last Friday, examiner Neil Hughes was scheduled
to ask the High Court to sanction a rescue plan that has been
approved by creditors the week before.

The recovery scheme backed by British production firm Barcud
Derwen reportedly involves giving unsecured creditors 8 cents in
the euro, while preferential creditors will receive 16 cents in
the euro.

Mr. Hughes earlier said: "Association with Barcud Derwen will
allow for synergies in terms of exchange of work within the
Barcud Derwen group which will give The Farm the reasonable
prospect of survival required under the Companies Act."

The Farm Media Group was created in 2002 with the merger between
Blade productions and The Farm, which was established in 1995 by
chief executive Bobby O'Reilly, and his wife Valerie.

With a workforce of 45 people in Dublin and 22 in Los Angeles,
the firm has worked with high-profile clients, including
Twentieth Century Fox, the Cranberries, the Corrs and Lucasfilm.
The Farm's move to upgrade its technology has caused troubles in
its cash flow, and prompted the exit of its audio managing
director Locky Butler.

Barcud Derwen, the largest regional post-production provider in
Britain, was formed with the merger between Barcud and
Derwen in 1997.  It has 11 divisions and has worked on a number
of projects with S4C and BBC.

CONTACT:  THE FARM MEDIA GROUP
          27 Upper Mount Street
          Dublin
          Phone: +353 1 6768812
          Fax: +353 1 6768816
          Web site: http://www.thefarm.ie

          BARCUD DERWEN
          Web site: http://www.barcudderwen.co.uk/


TOURISM SOUTH: General Meeting Set Later this Month
---------------------------------------------------
G. Stones, Liquidator of Tourism South & West Wales, informs that
a General Meeting of the Company will be held at 63 Walter Road,
Swansea SA1 4PT, on Friday 28 October 2005, at 10:00 a.m.
precisely, to be followed at 10:15 a.m. by a Meeting of
Creditors.

Proxies to be used at the Meeting must be lodged with the
Liquidator at the offices of Stones & Co, 63 Walter Road, Swansea
SA1 4PT, by 12:00 noon of the business day before the Meeting.

CONTACT:  TOURISM SOUTH & WEST WALES
          Chestnut House
          Tawe Business Village
          SWANSEA
          SA7 9LA
          Phone: (01792) 781212
          Fax: (01792) 781300


TT CONSTRUCTION: Final Meeting Set Oct. 27
------------------------------------------
K. B. Stout, Liquidator of TT Construction Limited, informs that
a Final Meeting of the Members of the Company, will be held at
8-10 Eastern Road, Romford, Essex RM1 3PJ, on 27 October 2005, at
2:00 p.m., followed at 2:30 p.m. by a Final Meeting of Creditors.

A Member or Creditor entitled to attend and vote at either of the
above Meetings may appoint a proxy holder to attend instead of
him.  A proxy holder need not be a Member or Creditor of the
Company.  Proxies for both Meetings must be lodged at the above
address not later than 12:00 noon on 26 October 2005.

CONTACT:  TT CONSTRUCTION LIMITED
          21 King Edwards Rd
          Chelmsford, Essex, CM3 5PQ
          Phone: 01245 425860


VEDANTA RESOURCES: Outlook Revised to Negative on License Delay
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
London-based diversified mining company Vedanta Resources PLC to
negative from stable.  At the same time, the 'BB+' long-term
foreign-currency corporate credit and senior unsecured debt
ratings on the company were affirmed.

"The outlook revision reflects Standard & Poor's concerns that
Vedanta might not obtain, or may suffer from delays in acquiring,
the necessary licenses to mine bauxite in the province of Orissa
in India," said Standard & Poor's credit analyst Olivier Beroud.

The project, which is expected to produce three million metric
tons of bauxite per year, is part of a larger integrated capital
expenditure plan.  The plan also comprises a one million ton
alumina refinery and a 90-megawatt captive power plant, both of
which are also in Orissa.  Vedanta has already started work on
the refinery, with $200 million spent to date out of an $800
million cost for the total project. If Vedanta has to source the
bauxite from alternative sites, the additional cost implications
would make the whole project less attractive economically.

The bauxite-mining project is scheduled to start in the second
quarter of 2006 for production to be ready in time to supply the
refinery.  Currently, Standard & Poor's still rates Vedanta on
the assumption that the Orissa project will progress as planned
and, therefore, all the ratings have been affirmed.  The negative
outlook reflects the uncertainty surrounding Vedanta obtaining
the necessary licenses it needs to mine bauxite in Orissa.
Vedanta needs to continue to implement its ambitious project
pipeline successfully, to stay at the current level of ratings.

"The key credit risks for the company are linked to the
completion of various projects," said Mr. Beroud. "In the medium
term, however, Standard & Poor's expects Vedanta to maintain
gross interest coverage of more than 5x.  The company should also
have funds from operations to gross debt of more than 20% over
the cycle, while maintaining significant cash balances."

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:  VEDANTA RESOURCES PLC
          44 Hill Street Mayfair
          London
          United Kingdom
          W1J 5NX
          Phone: +44 20 7629 6070
          Fax: +44 20 7629 7426
          Web site: http://www.vedantaresources.com

          Investor Relations
          John Smelt, Head
          Phone: +44 20 7499 5900
                 +44 787 964 2675

          James Murgatroyd
          Robin Walker
          Finsbury
          Phone: +44 20 7251 3801


VERTEC LIMITED: Creditors to Meet Next Week
-------------------------------------------
The creditors of Vertec Limited (Company No 01610581) will meet
on October 18, 2005 at 11:00 a.m.  It will be held at DTE House,
Hollins Mount, Hollins Lane, Bury BL9 8AT.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to J. M. Titley and A. Poxon, joint administrators of
DTE House, Hollins Mount, Hollins Lane, Bury BL9 8AT not later
than October 17, 2005 on or before 12:00 noon.

CONTACT:  VERTEC LTD.
          Vertec Building, Tudor Road
          Hanover Business Park
          Altrincham WA14 5RZ
          Cheshire
          Phone: 0161 929 0696
          Fax: 0161 941 5540
          Web site: http://www.vertec.com

          DTE LEONARD CURTIS
          DTE House, Hollins Mount,
          Bury BL9 8AT
          Phone: 0161 767 1200
          Fax: 0161 767 1201
          Web site: http://www.dtegroup.com


YELLOW ROSE: Creditors Meeting Set Friday
-----------------------------------------
E. J. David, Director of The Yellow Rose Textiles Ltd., informs
that a Meeting of Creditors of the Company will be held at the
offices of Elliot, Woolfe & Rose, 1st Floor, Equity House,
128-136 High Street, Edgware, Middlesex HA8 7TT, on Friday 14
October 2005, at 11:00 a.m.

The licensed Insolvency Practitioner dealing with the Company's
affairs is Melvyn L Rose of Elliot, Woolfe & Rose, 1st Floor,
Equity House, 128-136 High Street, Edgware, Middlesex HA8 7TT.

CONTACT:  THE YELLOW ROSE TEXTILES LTD.
          14 Gravel Lane, London E1 7AW
          Phone: 020-7377-8665


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------
                                Shareholders   Total    Working
                                   Equity      Assets   Capital
                        Ticker     (US$MM)    (US$MM)   (US$MM)
                        ------   -----------  -------   --------

AUSTRIA
-------
Libro AG                            (111)         174     (182)
Rhi AG                              (421)       1,700      183


BELGIUM
-------
City Hotels               CITY.BR     (7)         210      (15)
Real Software             REAL.BR   (202)         176      (17)
Sabena S.A.                          (86)       2,215     (297)


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


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


FRANCE
------
Acces Industrie                      (32)         124      (63)
Arbel                     PA.ARB     (50)         213      (47)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Bull S.A.                 BULP.PA   (912)         902      (38)
Charbo De France                  (3,872)       4,738   (2,868)
Compagnie Francaise de
   l'Afrique Occidentale             (65)         256       21
Compagnies de
   Machines Bull                    (139)         137       (6)
Dollfus Mieg & Cie S.A.   DS         (11)         165      (29)
Euro Computer System                (110)         682      377
Genesys S.A.              GNS.PA     (15)         136        3
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (68)         233       29
LVL Medical Group         LVLM.PA     (8)         149       (6)
Matussiere et Forest S.A. MTF        (78)         294      (28)
Oeneo S.A.                SABT.PA    (12)         292       38
Pneumatiques Kleber S.A.             (34)         480      139
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
St Fiacre (FIN)                       (1)         111      (33)
Teamlog                   TLO        (19)         109       (3)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Agor AG                   DOOG.BE     (8)         392     (126)
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
F.A. Guenther & Son AG    GUSG        (8)         111      N.A.
Kamps AG                  KMPSF.PK   (93)       1,075      (61)
Kaufring AG               KAUG       (19)         151      (51)
Mannheimer AG                        (15)         879      N.A.
Marbert AG                MTBG       (13)         144      (50)
Maternus Kliniken AG      MAK.F       (3)         207      (30)
Nordsee AG                            (8)         195      (31)
Primacom AG               PRIG      (268)       1,257   (1,048)
Rinol AG                  RLIG       (25)         178      (53)
Schaltbau Hold            SLTG       (23)         122       (7)
Senator Entertainment
    AG                    SENGk.BE  (153)         126     (148)
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)
VBH Holding AG            VBHG       (54)         337      (80)
Vivanco Gruppe                       (55)         131      (31)


GREECE
------
DryShips Inc.             DRYS        (4)         184      (29)


HUNGARY
-------
NABI Rt.                  NABHY       (2)         229   (8,950)


ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                      (152)         732     (322)
Gruppo Coin S.p.A.        GC        (111)         974      (97)
I Grandi Viaagi S.p.A.    IGV.MI     (31)         533     (140)
Lazio S.p.A.              LAZI       (27)         426     (175)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (18,419)       4,121  (12,481)
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)


NETHERLANDS
-----------
Baan Company N.V.         BAAN        (8)         610       46
Numico N.V.               NUMC      (422)       1,982      376
United Pan-Euro Air       UPC     (5,266)       5,180   (8,730)


NORWAY
------
Petroleum-Geo Services    PGO        (32)       2,963   (5,250)


POLAND
------
Mostostal Zabrze          MECOF.PK    (6)         227     (366)


ROMANIA
-------
Oltchim RM Valce          OLT        N.A.         232     (321)


RUSSIA
------
Zil Auto                            (168)         409  (10,680)


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


TURKEY
------
Nergis Holding                       (24)         125       26
Yasarbank                           (948)         623      N.A.


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
Alldays Plc                         (120)         252     (202)
Amey Plc                             (49)         932      (47)
Anker PLC                 ANK.L      (22)         115       13
Avis Europe PLC           AVE.L      (24)       2,686     (420)
Bonded Coach
   Holiday Group Plc                  (6)         188      (44)
Blenheim Group                      (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Plc        BGY     (5,342)       3,438      229
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
British Sky Broadcasting
   Group Plc              BSY        (61)       4,157      139
Center Parcs (UK)
    Group Plc             CQY        (77)         423     (227)
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST       (65)         396       (4)
Danka Bus System          DNK.L     (101)         540       34
Dawson Holdings           DWN.L      (19)         142      (33)
Dignity Plc               DTY.L     (148)         485      (89)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI     (1,411)       3,235     (331)
Euromoney Institutional
   Investor Plc           ERM.L     (113)         236      (66)
Gallaher Group            GLH       (421)       7,866        5
Gartland Whalley                     (11)         145       (8)
Global Green Tech Group             (156)         408      (18)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV         (9)         875     (190)
Homestyle Group Plc       HME        (29)         409     (124)
Invensys PLC                        (963)       4,861      913
IPC Media Ltd.                      (685)         254       16
Jarvis Plc                JRVS.L     (26)       1,176     (182)
Jessops Plc               JSP.L      (14)         321        7
Lambert Fenchurch Group               (1)       1,827        3
Lattice Group                     (1,290)      12,410   (1,228)
Leeds United              LDSUF.PK   (73)         144      (29)
M 2003 Plc                        (2,204)       7,205     (756)
Manchester City                      (17)         154      (21)
Micro Focus
   International Plc      MCRO.L     (14)         115      (11)
Misys Plc                 MSY       (460)         906       60
Mytravel Group            MT.L    (1,613)       2,199     (463)
Orange Plc                ORNGF     (594)       2,902        7
Partygaming Plc           PRTY      (405)         263     (161)
Premier Foods Plc         PFD.L      (29)       1,059       20
Probus Estates Plc        PBE.L      (28)         113     (264)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,072)       3,382      (68)
RHM Plc                   RHM       (586)       2,411       59
Saatchi & Saatchi         SSI       (119)         705      (41)
Seton Healthcare                     (11)         157        0
SFI Group                           (108)         178     (162)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,361)
Virgin Mobile
   Holdings Plc           VMOB.L    (101)         278      (80)

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


                            *********


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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

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

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


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