TCREUR_Public/100518.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, May 18, 2010, Vol. 11, No. 096

                            Headlines



G E R M A N Y

ARCANDOR AG: Karstadt May Get Duisburg Support on Tax Waiver


I C E L A N D

KAUPTHING BANK: Ex-Chairman Want Police to Provide "Assurances"


I R E L A N D

ICR MOTOR: Thrifty Car Rental Owners Set to Take Over This Week
JACKIE SKELLY: energie Group Remains Preferred Bidder
PROVENTUS EUROPEAN: Fitch Junks Rating on EUR25MM Class D Notes
QUINN INSURANCE: Joint Administrators Submit New Business Plan


L I T H U A N I A

UAB BITE: Fitch Holds Long-Term IDR at CCC & Removes Neg. Outlook


P O L A N D

POLSKIE LINIE: Turkish Airlines Mulls Acquisition


R O M A N I A

ROMPETROL DOWNSTREAM: Two Companies File Insolvency Petitions


R U S S I A

RUSSIAN FACTORING: Fitch Withdraws D Rating on Senior Notes


T U R K E Y

EREGLI DEMIR: S&P Lowers Corp. Credit Rating to 'B-'


U K R A I N E

* UKRAINE: Bank-Deposit Fund Paid US$130MM in April, Delo Says


U N I T E D   K I N G D O M

BL SUPERSTORE: S&P Cuts Rating on Class C1 Notes to 'BB'
EQUINOX PLC: S&P Junks Note Classes D, E & F
EUROPEAN DIRECTORIES: Up for Sale; Creditors Eye Restructuring
INTERNATIONAL POWER: Fitch Assigns 'BB' Rating on 7.2% Sr. Notes
PEACOCKS: Owners to Appoint Bankers to Advise on Possible Sale

SWAYFIELDS LTD: Lloyds to Put Motorway Services Up for Sale
TAYLOR WIMPEY: Kevin Beeston Named New Non-Executive Chairman


X X X X X X X X

* Fitch Sees Signs of Stabilization in European Leveraged Buyouts

* Large Companies with Insolvent Balance Sheet




                         *********


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G E R M A N Y
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ARCANDOR AG: Karstadt May Get Duisburg Support on Tax Waiver
------------------------------------------------------------
Holger Elfes at Bloomberg News reports that Karstadt, the
department-store unit of Arcandor AG that is in talks with
potential buyers, may get the support of the city of Duisburg in
its request to waive tax claims.

Bloomberg relates Frank Kopatschek, a spokesman for Duisburg, said
Friday in an interview that the city council, which had initially
rejected the request, will meet May 21 to again discuss the
insolvency administrator's appeal.

On May 14, 2010, the Troubled Company Reporter-Europe, citing
Bloomberg News, reported that the cities of Bielefeld and Erding
rejected the administrator's request to waive the claims on taxes
they are owed by Karstadt, endangering Karstadt's sale.  According
to Bloomberg, the insolvency administrator's spokesman Thomas
Schulz, said under insolvency rules, 98% of a total of 94 cities
in which Karstadt have stores have to accept the request to make
the sale possible.  Mr. Schulz, as cited by Bloomberg, said 12
other cities, including Cologne, Munich and Hanover, have
indicated they plan to reject the request, while about 70 cities
have said they plan to approve it.

                        About Arcandor AG

Germany-based Arcandor AG (FRA:ARO) -- http://www.arcandor.com/--
formerly KarstadtQuelle AG, is a tourism and retail group.  Its
three core business areas are tourism, mail order services and
department store retail.  The Company's business areas are covered
by its three operating segments: Thomas Cook, Primondo and
Karstadt.  Thomas Cook Group plc is a tour operator with
operations in Europe and North America, set up as a result of a
merger between MyTravel and Thomas Cook AG.  It also operates the
e-commerce platform, Thomas Cook, supporting travel services.
Primondo has a portfolio of European universal and specialty mail
order companies, including the core brand Quelle.  Karstadt
operates a range of department stores, such as cosmopolitan
stores, including KaDeWe (Kaufhaus des Westens), Karstadt
Oberpollinger and Alsterhaus; Karstadt brand department stores;
Karstadt sports department stores, offering sports goods in a
variety of retail outlets, and a portal, karstadt.de that offers
online shopping, among others.

As reported by the Troubled Company Reporter-Europe, a local court
in Essen formally opened insolvency proceedings for Arcandor on
September 1, 2009.  The proceedings started for the Arcandor
holding company and for 14 units, including the Karstadt
department-store chain and Primondo mail-order division.

Arcandor filed for bankruptcy protection after the German
government turned down its request for loan guarantees.  On
June 8, 2009, the government rejected two applications for help by
the company, which employs 43,000 people.  The retailer sought
loan guarantees of EUR650 million (US$904 million) from Germany's
Economy Fund program.  It also sought a further EUR437 million
from a state-owned bank.


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I C E L A N D
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KAUPTHING BANK: Ex-Chairman Want Police to Provide "Assurances"
---------------------------------------------------------------
Elizabeth Amon at Bloomberg News reports that Kaupthing Bank hf's
former Chairman Sigurdur Einarsson, who is wanted by Icelandic
police on suspicion of fraud and counterfeiting, won't return to
Iceland until police provide "some assurances."

"Einarsson was invited to come to Iceland for an interview," which
was due to take place May 13, Einarsson's lawyer Ian Burton said
in a telephone interview May 13, according to Bloomberg.  "When it
came time for Einarsson to go over, we said, what we'd like you to
do is to provide us with some assurances."

Iceland issued an international arrest warrant for Einarsson on
May 12, Bloomberg discloses, citing the Interpol's Web site.  The
country's special prosecutor is investigating a number of former
Kaupthing executives for alleged market manipulation and forgery,
Bloomberg notes.

"I think there's a misconception," Bloomberg quoted Mr. Burton as
saying.  The warrant "is only to arrest him for an interview. And
as such, that warrant, which they've notified Interpol of, isn't a
warrant that entitles any foreign jurisdiction to arrest him for
the purposes of extradition.  You can only extradite somebody if
they're actually in the position to be charged."

Bloomberg relates Olafur Thor Hauksson, Iceland's special
prosecutor leading the investigation, said in a phone interview
"we don't claim to have any jurisdiction in the U.K."  Mr.
Hauksson, as cited by Bloomberg, said "The Reykjavik district
court issued an arrest warrant, which has since been published by
Interpol.  Whether or not Einarsson will be arrested on the merit
of that warrant depends on a U.K. court."

                       About Kaupthing Bank

Headquartered in Reykjavik, Kaupthing Bank --
http://www.kaupthing.com/-- is Iceland's largest bank and among
the Nordic region's 10 largest banking groups.  With operations in
more than a dozen countries, the bank offers a range of services
including retail banking, corporate finance, asset management,
brokerage, private banking, treasury, and private wealth
management.  Kaupthing was created by the 2003 merger of
Bunadarbanki and Kaupthing Bank.  In October 2008 the Icelandic
government assumed control of Kaupthing Bank after taking similar
measures with rivals Landsbanki and Glitnir.

As reported by the Troubled Company Reporter on Nov. 30, 2008,
Olafur Gardasson, assistant for Kaupthing Bank hf., in a
proceeding under Act No. 21/1991, pending before the Reykjavik
District Court, and foreign representative of the Debtor, filed a
petition under chapter 15 of title 11 of the United States Code in
the United States Bankruptcy Court for the Southern District of
New York commencing the Debtor's chapter 15 case ancillary to the
Icelandic Proceeding and seeking recognition for the Icelandic
Proceeding as a "foreign main proceeding" under the Bankruptcy
Code and relief in aid of the Icelandic Proceeding.


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I R E L A N D
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ICR MOTOR: Thrifty Car Rental Owners Set to Take Over This Week
---------------------------------------------------------------
Ian Kehoe at The Sunday Business Post Online reports that a new
investor is due to take ICR Motor Group out of examinership this
week.

According to the Post.ie, the owners of the Irish franchise for
Thrifty Car Rental have agreed a deal that will involve them
investing an initial EUR1.25 million to pay the company's
creditors.  The investors have also agreed to make a further EUR1
million available to cover the company's cashflow requirements,
the report says.

The examiner, accountant Michael McAteer, will present the deal,
which will save some 16 jobs at the company, to creditors this
week, the Post.ie states.  If agreed, it will then be sent to the
High Court for ratification, the report notes.

Under the scheme, unsecured creditors are being offered 7.5% of
their debts, while preferential creditors are being offered 50%,
the Post.ie discloses.  Secured creditors will be paid in full,
according to the report.

The Troubled Company Reporter-Europe, citing the Sunday Business
Post, reported on May 14, 2010, that ICR has struggled with a
significant downturn in business, forcing the examinership
process.  The Post.ie disclosed during the examinership process,
financial inaccuracies totaling more than EUR6.6 million emerged
in the accounts of ICR.

ICR Motor Group has a fleet of 2,500 vehicles.  It holds the
franchise for the Europcar, Alamo and National Car Rental brands.


JACKIE SKELLY: energie Group Remains Preferred Bidder
----------------------------------------------------
energie Group on May 16 said that it remains the preferred bidder
to acquire Jackie Skelly Fitness out of examinership.  The
proposed investment received the support of the Company's
creditors and is also supported by examiner Kieran Wallace of
KPMG.  The energie investment will secure existing memberships and
more than 200 jobs at Jackie Skelly Fitness.

"We have been encouraged by the strong performance of our existing
clubs in Ireland.  We are excited about the opportunity to acquire
the Jackie Skelly Fitness group, providing a continuing service to
members and securing employment for staff."

energie Group, based in Milton Keynes, UK, proposes to acquire
nine of the ten existing Jackie Skelly Fitness clubs to operate
under the energie brands.  energie currently plans to continue to
provide all of the facilities currently available at these nine
clubs.  This investment secures jobs and guarantees continuous and
consistent service to club members.

energie is also in negotiation with the owner of the tenth club to
assess the possibility of keeping the club open.

Jan Spaticchia, energie group CEO, commented: "We have been
encouraged by the strong performance of our existing clubs in
Ireland.  We are excited about the opportunity to acquire the
Jackie Skelly Fitness group, providing a continuing service to
members and securing employment for staff."

Mr. Spaticchia added: "We recognize and appreciate the support of
the creditors.  We are pleased to be in a position to invest in
and ensure the viability of this business."

Founded 17 years ago, Jackie Skelly Fitness is a gym chain owned
by Jackie Skelly.  The company employs about 300 people, according
to The Sunday Business Post Online.


PROVENTUS EUROPEAN: Fitch Junks Rating on EUR25MM Class D Notes
---------------------------------------------------------------
Fitch Ratings has downgraded Proventus European ABS CDO's
(Proventus) class A, B, C and D notes and affirmed the class E and
F notes as follows.

--EUR12m class A (XS0283671716): downgraded to 'BBB-' from 'BBB';
  Outlook Negative; Loss Severity (LS) Rating 'LS-5'

--EUR28m class B (XS0283673415): downgraded to 'BB' from 'BB+';
  Outlook Negative; 'LS-4'

--EUR20m class C (XS0283674223): downgraded to 'B' from 'BB';
  Outlook Negative; 'LS-4'

--EUR25m class D (XS0283674819): downgraded to 'CCC' from 'B'

--EUR20m class E (XS0283675626): affirmed at 'CC'

--EUR10m class F (XS0283676434): affirmed at 'CC'

Fitch has downgraded the notes because the agency believes the
credit enhancement (CE) levels of the class A, B, C, D, E and F
notes (5.4%, 4%, 3%, 1.8%, 0.8% and 0.3% respectively) no longer
supports the previous ratings.  The portfolio's 'CCC' and below
bucket has increased to 2.2% from 0.8% at the last review in
December 2009.  The portfolio has less asset concentration and is
of a higher credit quality than most Fitch-rated structured
finance CDOs, but the transaction's thin CE levels have limited
the transaction's capacity to absorb losses.

Fitch views the ratings as vulnerable to a further downgrade.
Further negative portfolio migration could cause a downgrade of
the notes in the medium term (6-12 months), including a downgrade
of class A notes to below investment grade. Fitch has sector-wide
concerns with respect to balloon repayment on commercial mortgage-
backed securities (CMBS) -- which make up 15.4% of the current
portfolio.  Fitch highlighted these sector level concerns in the
April 2010 edition of its "EMEA Structured Finance Snapshot" which
is available on the agency's website at www.fitchratings.com (PDF
page 27).*

The rating actions follow a performance review that combined the
agency's view on the credit risk of the rated tranches and an
analysis using the agency's Portfolio Credit Model.  Proventus is
a seven-year replenishing synthetic transaction.  The current
portfolio contains primarily European RMBS (64.5% of portfolio),
ABS (18.1%), CMBS (15.4%) and CDO assets (1.9%).

Fitch has also assigned an Issuer Report Grade (IRG) of "basic"
(two stars) to Proventus.  The issuer's quarterly reports do not
contain the current balance of transaction's liabilities, and this
has prevented the transaction from earning an IRG higher than two
stars.  The reports do provide a detailed portfolio list in an
easily accessible excel format with common market identifiers.


QUINN INSURANCE: Joint Administrators Submit New Business Plan
--------------------------------------------------------------
Ian Guider at Tribune Business reports that the joint
administrators to Quinn Insurance have submitted a new business
plan to the Financial Regulator that would allow the company
reopen its commercial insurance lines in the UK.

The report relates Michael McAteer, one of the joint
administrators from Grant Thornton, said the plan was submitted
late last week and should address concerns the regulator had about
the operation.  According to the report, Mr. McAteer said he was
hopeful the Financial Regulator would make a decision allowing it
to resume new business in the next week or two.

The company's UK professional indemnity book, which insures about
3,000 solicitors, will remain closed in the short term, the report
says.  The report notes Mr. McAteer said the policies aren't due
to be renewed until October and a decision on whether to seek to
have that line reopened would be made nearer the time.

The joint administrators, who received in excess of 40 expressions
of interest for all or parts of Quinn Insurance, are due to return
to the High Court on Thursday to provide an update on their work,
the report discloses.

The report says an information memorandum is due to be issued to
prospective buyers of the company later this month, including
Anglo Irish Bank.  The Quinn Group last month put the insurance
division officially up for sale, but any deal will have to get the
approval of the High Court, the report notes.

"Anglo is talking to us but nothing has happened. Nothing can
happen without us knowing about it.  The only way the company can
come out of administration is by us taking an application to have
ourselves removed and the only way we can do that is if we can
satisfy the court that the reasons for going into administration
are no longer valid," the report quoted Mr. McAteer as saying.

As reported by the Troubled Company Reporter-Europe on April 19,
2010, The Financial Times said Quinn Insurance was put into
administration on April 15 after Sean Quinn abandoned attempts to
keep control of the family-owned company.  The FT disclosed the
administrators were instructed by the High Court to run the
company as a going concern "with a view to placing it on a sound
commercial footing".

Quinn Insurance is owned by Sean Quinn, Ireland's richest man, and
his family.  The company has just more than 20% of the motor and
health insurance market in Ireland.  It has more than one million
customers in the country.  Employing almost 2,800 people in
Britain and Ireland, it was founded in 1996 and entered the UK
market in 2004, according to The Times.


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L I T H U A N I A
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UAB BITE: Fitch Holds Long-Term IDR at CCC & Removes Neg. Outlook
-----------------------------------------------------------------
Fitch Ratings has affirmed Lithuania-based mobile network operator
UAB Bite Lietuva's (Bite) Long-term Issuer Default Rating (IDR) at
'CCC' and removed the Negative Outlook.  SIA EECF Bella Finco's
senior secured revolving credit facility (RCF) is affirmed at
'B-'.  The Recovery Rating of the facility is 'RR3'. The senior
secured notes due 2014 issued by Bite Finance International BV are
affirmed at 'CCC'.  The Recovery Rating for the notes is 'RR4'.
Bite's latest results have shown some resilience in Lithuanian
EBITDA despite continued revenue declines and this, together with
continued growth in Latvia, has contributed to stronger
consolidated EBITDA figures and improvements in free cashflow
(FCF) generation.  "Fitch believes that the risk of a further
liquidity crisis has receded enough to enable removal of the
Negative Outlook," said Michelle De Angelis, Senior Director in
Fitch's Leveraged Finance team.  "However the 'CCC' IDR reflects
Bite's challenging operating environment and the execution risk
still inherent in generating consistent positive FCF to meet
contractual debt reduction obligations from 2011."

Lithuanian revenues continue to decline as a result of both
economic conditions and regulatory pressures.  The challenge for
Bite will be to arrest and reverse this trend as the Lithuanian
economy recovers over the next 1-3 years.  Nevertheless,
Lithuanian EBITDA on a trailing 12-month (LTM) basis has
stabilized for the last three quarters at around EUR45 million,
helped by lower interconnection and roaming costs as a result of
regulatory changes.  However, unless the revenue decline can be
halted, Lithuanian EBITDA could yet come under pressure.  In
contrast, the Latvian business continues to grow and negative
EBITDA narrowed to EUR7 million on an LTM basis at end-Q110
compared to an EBITDA loss of EUR14.3 million at end-Q109.  As a
result consolidated LTM EBITDA increased in Q110 to EUR36 million
-- the highest level seen over the last three years -- and net
debt/ consolidated EBITDA reached 6x (versus 6.6x at YE09).

Nonetheless, Bite's operations in Lithuania continue to face the
pressures of a highly penetrated and competitive market, and
although the Latvian operations have had some success, there
remains a risk of a more aggressive response from better-
capitalized competitors, which could slow progress towards
positive EBITDA territory.  Positive rating momentum could be
generated from consistent improvements in consolidated EBITDA,
positive EBITDA in Latvia and, most importantly, consistent
positive FCF generation.

Interest cost and capex reductions together with the improvement
in EBITDA have helped Bite to reduce the net free cash outflow in
the 12 month period to Q110 to EUR0.7m (compared to an LTM outflow
of EUR18.8 million to Q109), indicating that the risk of a new
liquidity crisis is receding.  The company's available debt
facilities are all fully drawn, so its only liquidity source is
cash, which stood at EUR8.7 million at end-Q110, the highest level
since Q109.  Fitch notes that recent amendments to the EUR30
million RCF require that Bite reduces the outstanding balance in
stages starting from June 2011, and this will depend on Bite's
ability to generate positive FCF.


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P O L A N D
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POLSKIE LINIE: Turkish Airlines Mulls Acquisition
-------------------------------------------------
David McQuaid at Bloomberg News reports that Turk Hava Yollari AO
Chief Executive Officer Temel Kotil said in an interview with the
newspaper Rzeczpospolita that the Turkish carrier is interested to
buy Polskie Linie Lotnicze LOT SA, although it hasn't made a final
decision on a possible acquisition.

According to Bloomberg, Mr. Kotil, as cited by the newspaper, said
LOT is the only Central European airline Turkish Airlines is
considering acquiring and cooperation might begin with a joint
venture on several routes.

On Jan. 22, 2010, the Troubled Company Reporter-Europe, citing
Bloomberg, News reported that LOT Chief Executive Officer
Sebastian Mikosz said in August Poland's state-controlled national
airline was seeking an investor as it strives to regain
profitability with new labor contracts, more fuel-efficient flight
practices and better service.  Mr. Mikosz, as cited by Bloomberg,
said LOT would report a loss for full year 2009.  The airline
posted a first-half net loss of PLN178 million (US$63 million),

Polskie Linie Lotnicze LOT, or LOT Polish Airlines --
http://www.lot.com/-- serves about a dozen cities in Poland and
about 120 destinations across Europe and North America.  LOT's
holdings include regional carrier EuroLOT.  Overall, LOT maintains
a fleet of about 50 aircraft, consisting of Embraer regional jets,
Boeing 767s and 737s, and ATR turboprops.  The airline is a member
of the Star Alliance marketing group, and LOT serves many of its
North American destinations through code-sharing with Star
partners United Airlines and Air Canada.  The Polish government
owns 93% of the company.  LOT employees hold the remainder.


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R O M A N I A
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ROMPETROL DOWNSTREAM: Two Companies File Insolvency Petitions
-------------------------------------------------------------
Mediafax.ro reports that Novensys Corp. and Automotive SA asked
the Bucharest Court to initiate insolvency procedures against
Rompetrol Downstream.

According to the report, Novensys requested the launch of
insolvency procedures against Rompetrol Downstream on February 25.
The request will be analyzed on May 19, the report notes.

The report relates Automotive filed two suits against Rompetrol
Downstream, on April 30 and on May 4, also requesting bankruptcy.
The hearings are set for December 3 and December 15, 2010, the
report states.

Rompetrol Downstream operates 805 gas stations.  The Rompetrol
group is owned by Kazakh state-owned company KazMunaiGaz,
according to Mediafax.ro.


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R U S S I A
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RUSSIAN FACTORING: Fitch Withdraws D Rating on Senior Notes
-----------------------------------------------------------
Fitch Ratings has withdrawn the ratings on Russian Factoring No. 1
S.A.'s (the issuer) senior and mezzanine notes.  Both the senior
and mezzanine notes are rated 'D' with respective Recovery Ratings
of 'RR6'.

The agency will no longer provide rating or analytical coverage of
this issuer.


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T U R K E Y
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EREGLI DEMIR: S&P Lowers Corp. Credit Rating to 'B-'
----------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on Turkey-based steel producer Eregli Demir ve Celik
Fabrikalari T.A.S. (Erdemir) to 'B-' from 'B'.  The outlook is
stable.

"The downgrade reflects our view that Erdemir faces high leverage
and ongoing refinancing risks stemming from material short-term
debt maturities falling due in 2010 and 2011," said Standard &
Poor's credit analyst Paulina Grabowiec.

"On March 31, 2010, Erdemir's short-term debt was sizable, in our
view, at TRY1.6 billion and was TRY1.3 billion for the 12 months
to March 31, 2012.  This was supported by cash balances of TRY966
million and availability under uncommitted credit lines, mostly
from Turkish banks, of TRY4.9 billion.  With weak profits
anticipated in 2010, we believe this demonstrates the company's
reliance on the ability and willingness of banks to provide
financing for its operations."

"Conversely, we believe that Erdemir has good access to bank
financing, notably on the domestic market, as evidenced by
successful refinancing of TRY900 million and US$550 million in
2009.  We also take comfort from the ability and willingness of
controlling shareholder OYAK (Ordu Yardimlasma Kurumu) to provide
short-term financing to Erdemir on a commercial basis, as
demonstrated in the past.  We understand that OYAK (BB+/Stable/B)
intends to remain Erdemir's largest shareholder; ArcelorMittal
(BBB/Negative/A-3) holds 25%, and the free float is about 23%.
The rating on Erdemir continues to reflect its stand-alone credit
quality."

"In addition, we believe that any benefits from the recovery in
steel prices are likely to be offset by intense cost pressures
arising from a significant increase in global benchmark prices of
70% for iron ore and about 35%-40% for coking coal.  Given
Erdemir's limited self-sufficiency in those materials, we believe
the company's near-term margins could remain weak."

"The stable outlook reflects our belief that Erdemir will be
successful in refinancing its 2011 maturities, and that OYAK will
continue to provide support to the company if needed," said Ms.
Grabowiec.  "The outlook also incorporates our view of Erdemir's
possible weak cash flow generation in 2010."

However, downward pressure on the rating could develop if the
company were to report EBITDA losses on a sustainable basis in the
coming quarters.

"Upside rating potential could arise if Erdemir's liquidity
position were to strengthen sustainably, for example, by way of
securing longer-term financing.  However, such a development would
have to be complemented by a sustainable improvement in the
company's operating performance.  We believe that this improvement
could be possible through a sustainable recovery in the prices of
steel, or by way of the company addressing significant cost
pressures arising from the costs of iron ore and coking coal."


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U K R A I N E
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* UKRAINE: Bank-Deposit Fund Paid US$130MM in April, Delo Says
--------------------------------------------------------------
Kateryna Choursina at Bloomberg News, citing Delo, reports that a
Ukraine fund that guarantees individuals' bank deposits paid out
UAH1.05 billion (US$130 million) in April.

According to Bloomberg, the newspaper said the money was paid to
people who had deposits in VAT Bank Big Enerhiya, AKB Transbank
and Dnister Bank, which were liquidated by the central bank.


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


BL SUPERSTORE: S&P Cuts Rating on Class C1 Notes to 'BB'
--------------------------------------------------------
Standard & Poor's Ratings Services affirmed and subsequently
withdrew its credit ratings in Highbury Finance B.V. and Dragon
Finance B.V., two commercial mortgage-backed securities
transactions that are credit-linked to J Sainsbury PLC.

"At the same time, we lowered our rating to 'BB' on BL Superstore
Finance PLC's class C1 notes and affirmed our ratings on BL
Superstore's other classes.  Furthermore, we have affirmed our
ratings on Eddystone Finance PLC and Longstone Finance PLC's
notes," S&P said.

The affirmation and withdrawal of the Highbury Finance and Dragon
Finance ratings follow the same action on the long-term corporate
credit rating on Sainsbury to which the CMBS ratings were directly
credit-linked.

According to S&P: "The BL Superstores transaction is not credit
linked to the rating on Sainsbury as tenant.  However, in January
2010 we brought the rating on the C1 class in line with the rating
on Sainsbury to reflect our view of the risk that tenant
insolvency and restrictions on liquidity drawings could result in
interest and principal deferrals for this class of notes.  We now
consider that the credit risk of BL Superstores' class C1 note is
no longer consistent with an investment-grade rating since, from
our perspective, Sainsbury is an unrated entity.  We have
therefore downgraded the class C1 notes to 'BB' from 'BBB-' and
affirmed our ratings on the other notes."

"The ratings on Eddystone and Longstone's notes are also not
credit-linked to Sainsbury as tenant.  Accordingly, we have
affirmed our rating on these notes."

   RATINGS LIST

                    Rating
   Class       To              From

   RATINGS AFFIRMED AND THEN WITHDRAWN

   Dragon Finance B.V.
   ?232.45 Million Secured Floating-Rate Notes
   A           NR              BBB-
   B           NR              BBB-

   Highbury Finance B.V.
   ?335.5 Million Secured Bonds
   A           NR              BBB-

   RATINGS AFFIRMED

   BL Superstores Finance PLC
   ?753 Million Fixed- And Floating-Rate Bonds
   A2          AAA
   M1          AA
   B2          A
   B3          A

   Eddystone Finance PLC
   ?504.6 Million And ?853 Million Mortgage-Backed Floating-Rate
   Notes
   A1A         AAA
   A1B         AAA
   A2          AAA
   B           AA
   C           A

   Longstone Finance PLC
   ?868 Million Commercial Mortgage-Backed Fixed-Rate Notes
   A           AAA
   B           AA
   C           A

   RATING LOWERED

   BL Superstores Finance PLC
   ?753 Million Fixed- And Floating-Rate Bonds
   C1          BB              BBB-


EQUINOX PLC: S&P Junks Note Classes D, E & F
--------------------------------------------
Standard & Poor's Ratings Services lowered its credit ratings on
EQUINOX (ECLIPSE 2006-1) PLC's class C, D, E, and F notes.  S&P
also affirmed the ratings on classes A and B.

"According to a notice to noteholders, the special servicer,
Barclays Capital Mortgage Servicing Ltd. (BCMS), has been advised
by Knight Frank LLP and Drivers Jonas LLP to dispose of the
properties securing the Macallan loan.  Another loan, the Redleaf
loan, is scheduled to mature in July 2010 and we believe
refinancing options for this loan may be limited due to what we
consider to be the secondary quality of the properties securing
the loan."

"In our analysis, we focused on the current value of the portfolio
securing the Macallan loan and potential sale proceeds from
disposal of the portfolio.  At the end of 2009, the portfolio was
valued at ?34.3 million, resulting in a loan-to-value (LTV) ratio
of 115%.  Many of the properties have significant vacancy levels
and we believe that the cash flow they generate is likely to
deteriorate.  We believe this is a particular concern for the
transaction as the current debt service coverage ratio (DSCR) is
below 1.0x.  We also factored in potential capital expenditures
and the associated costs and periods of downtime with respect to
property improvement in our value assessment.  Furthermore, we
considered that recovery proceeds may decrease if swap breakage
costs are incurred as a consequence of the sale of the properties
securing the loan."

"We also focused on potential workout scenarios for the Redleaf
loan.  In July 2009, the portfolio was valued at ?41.43 million,
reflecting an LTV ratio of 133%.  Although the properties
currently have low levels of vacancy, as leases are scheduled to
expire over the next few years we believe vacancy will increase.
As we believe the assets to be secondary in quality, we have
factored capital expenditures to improve the marketability of the
assets into our analysis and have considered the implications of
such costs to our projected cash flows.  We explored the
possibility of the servicer extending the loan and considered that
excess cash generated by the portfolio could be used by the
borrower to fund certain capital expenditures and/or be applied by
the servicer to reduce the loan balance."

"Based on our estimation of expected losses from these scenarios,
we believe that full repayment of the class D, E, and F notes is
unlikely without an improvement in market conditions and asset
performance, and we have lowered the ratings on these classes
accordingly."

"In our opinion, repayment of the class C notes is susceptible to
the timing and pricing of sales, which may be affected by the
secondary nature of a large proportion of the portfolio.  As such,
we have lowered the rating on the class C notes to 'BB'.  We note
that legal final maturity is not until 2018, which could provide
time for a servicer or special servicer to explore refinancing or
recovery opportunities."

"We lowered the ratings on all classes of notes in this
transaction in January 2010.  This followed our review of all
European commercial mortgage-backed securities (CMBS) that we
rate, in light of the pressure facing commercial real estate debt
and capital markets, and the potential impact on loan refinance
risks."

At the time of the securitization, EQUINOX (ECLIPSE 2006-1) was
backed by 13 loans secured against 136 properties located across
the U.K. Of the 13 loans, two have prepaid.  The remaining 11
loans have an outstanding loan balance of approximately ?331.4
million and the notes have an expected maturity date in October
2015 and a legal final maturity date in October 2018.

   RATINGS LIST

   EQUINOX (ECLIPSE 2006-1) PLC
   ?401.34 Million Commercial Mortgage-Backed Floating-Rate Notes

                              Ratings
   Class               To                   From
   -----               -------------------------
   Ratings Lowered
   C                   BB                   BBB
   D                   CCC                  B+
   E                   CCC-                 B
   F                   CCC-                 B

   Ratings Affirmed
   A                   AA+
   B                   AA-


EUROPEAN DIRECTORIES: Up for Sale; Creditors Eye Restructuring
--------------------------------------------------------------
Anousha Sakoui at The Financial Times reports that European
Directories has been put up for sale as creditors look to
restructure its debts.

Rothschild is running the sale process for the Amsterdam-based
company with the deadline for bids set for May 24, the FT says,
citing people close to the situation.

According to the FT, while European Directories is profitable,
with 2009 revenues reaching EUR686 million and earnings before
interest tax depreciation and amortization of EUR182 million, the
view among some of those involved is that the company is worth
less than its senior debt.  The company has EUR2.1 billion of
debt, of which EUR1.55 billion is senior ranking debt, the FT
discloses.

Should no debt restructuring or sale be agreed, senior lenders
which include Royal Bank of Scotland, Lloyds Banking Group,
Alcentra, Allied Irish Bank and M&G are also formulating their own
debt restructuring proposal that would see them take control of
the Company in the event of no third party bid being acceptable,
the FT notes.

Under such a scenario, the senior debt would be cut to EUR800
million and up to EUR500 million converted into a subordinated,
payment-in-kind loan to the holding company, the FT states.
According to the FT, the people said the rest of the debt --
including second-lien and mezzanine debt -- as well as just under
EUR1 billion of equity, would be wiped out.

European Directories -- http://www.europeandirectories.com/-- is
a pan-European local search and lead generation company.  It has
offices in Amsterdam and London.


INTERNATIONAL POWER: Fitch Assigns 'BB' Rating on 7.2% Sr. Notes
----------------------------------------------------------------
Fitch Ratings has assigned International Power Finance (2010)
plc's (IPF) EUR250 million, seven-year, 7.25% senior unsecured
notes a final 'BB' rating.  The rating is aligned with
International Power plc's (IPR) Long-term Issuer Default Rating
(IDR) of 'BB' which has a Stable Outlook.

IPF is a direct, wholly-owned subsidiary of IPR. IPF was
incorporated and registered in England and Wales as a public
limited company on 16 April 2010.  IPF is a finance vehicle and
noteholders will thus rely exclusively on IPR's and its operating
subsidiaries' financial standing for the payment of the notes.
The notes benefit from a guarantee from IPR that ranks equally
with all its existing and future senior unsecured indebtedness.
However, the notes are structurally subordinated to all debt,
other liabilities and commitments (including trade payables and
lease obligations) of IPR's operating subsidiaries.  IPR intends
to use the net proceeds from the notes for general corporate
purposes.  The note indenture will be governed by the laws of the
State of New York.

IPR's Long-term IDR of 'BB' reflects the blend of contract types
in its plant portfolio, which are 28% uncontracted, 24% short-term
contracted and 34% long-term contracted.  The long-term contracts
take the form of stable earning Power Purchase Agreements
throughout Europe, the Middle East and Asia.  The company's rating
also benefits from a low level of group debt at the corporate
level (17% pro-forma FYE09 after EUR250 million note issuance),
strong liquidity and limited refinancing needs until 2012.
However, the rating is constrained by a concentration of cash
flows amongst a small number of projects and the company's
reliance on gas-fired generation (61% of generation capacity).

IPR is a leading independent power generation company with
interests in 32,358MW (gross) of power-generating capacity, from
participations in 50 power plants located in 21 countries across
five core regions -- North America, Europe, Middle East, Australia
and Asia.


PEACOCKS: Owners to Appoint Bankers to Advise on Possible Sale
--------------------------------------------------------------
Elizabeth Rigby at The Financial Times reports that the owners of
budget fashion chain Peacocks are considering appointing bankers
to advise the company on its options as it considers a possible
sale.

According to the FT, shareholders, which include Och-Ziff, the US
hedge fund, Perry Capital and Goldman Sachs' private equity arm
could appoint an investment bank in the coming weeks to prepare
for a sale which could run to hundreds of millions of pounds.

Rhys Jones at Reuters, citing the Sunday Times, reports that a
consortium of private investors, led by Goldman Sachs, had hoped
to refinance Peacocks, but that was scuppered due to the
retailer's debt levels.

Peacocks has over 70 franchise stores overseas, including in
Russia and Romania.  It also owns the Bonmarche discount chain.
Goldman Sachs and a group of six hedge funds bought the chain for
about GBP400 million, according to the FT.


SWAYFIELDS LTD: Lloyds to Put Motorway Services Up for Sale
-----------------------------------------------------------
Daniel Thomas at The Financial Times reports that a GBP240 million
(US$346 million) portfolio of UK motorway service stations is
being lined up for sale to a private equity group in the latest
workout of assets backed by distressed debt from Lloyds Banking
Group.

The FT recalls Swayfields, which operates roadside areas and
motorway service stations across the UK, went into administration
in March after struggling to service its debt.  The majority of
this was lent by Lloyds, although there are also loans from
Deutsche Postbank, the FT discloses.

According to the FT, PwC, which was appointed to advise on the
administration, has entered into negotiations with M3 Capital
Partners for the assets backed by the Lloyds debt.  It is thought
that the private equity group has bid about GBP240 million for the
nine sites being sold in the portfolio, which is just under the
GBP250 million of debt that is understood to back the properties,
the FT notes.

The FT says the deal would mean a marginal loss for Lloyds,
although a relatively limited writedown compared with the extent
of problem loans elsewhere in its property portfolio.

As reported by the Troubled Company Reporter-Europe on
March 8, 2010, Ian Green, Rob Hunt and Ed Macnamara of
PricewaterhouseCoopers LLP were appointed joint administrators to
Swayfields Limited and Swayfields Extra MSA Holdings Limited on
March 5, 2010.

Swayfields, headquartered in Lincoln with an annual turnover of
approximately GBP13 million, operates 11 roadside service areas
(six motorway service areas, two trunk-road service areas and
three forecourts) across England.  The individual sites are not
subject to any insolvency process and are continuing to trade as
normal.


TAYLOR WIMPEY: Kevin Beeston Named New Non-Executive Chairman
-------------------------------------------------------------
Ed Hammond at The Financial Times reports that Taylor Wimpey has
named Kevin Beeston, the former boss of support services company
Serco, as its new non-executive chairman.

The FT says Mr. Beeston replaces Norman Askew, who has been
chairman of the housebuilder since it was spun out of a 2007
merger between George Wimpey and Taylor Woodrow.  The FT recalls
Mr. Askew announced his intention to stand down in December 2009
and will leave the company at the end of June.

                      About Taylor Wimpey

Taylor Wimpey plc -- http://www.taylorwimpey.com-- is a
homebuilding company with operations in the United Kingdom, North
America, Spain and Gibraltar.  The Company has 34 regional
businesses and five smaller satellite operations.  It operates two
core brands: Bryant Homes and George Wimpey.  The George Wimpey
brand incorporates modern design and contemporary living into each
home and offers customers a range of options to personalize their
home.  Its Gibraltar business operates in the luxury apartment
market.  The Company operates in five divisions: Housing United
Kingdom, Housing North America, Housing Spain and Gibraltar,
Construction and Corporate. On July 3, 2007, George Wimpey PLC
merged with Taylor Woodrow plc to create Taylor Wimpey plc.  In
September 2008, the Company announced the sale of the United
Kingdom business of Taylor Woodrow Construction to VINCI PLC.

                           *     *     *

Taylor Wimpey continues to carry Fitch Ratings' 'B' long-term and
short-term issuer default ratings and 'B-' senior unsecured
rating.  The outlook on the long-term IDR is stable.  The long-
term IDR was upgraded by Fitch from 'B-' and the senior unsecured
rating from 'CCC'.

As reported by the Troubled Company Reporter-Europe on Aug. 17,
2009, the upgrade of the ratings reflected TW's improved credit
profile, largely due to debt amendments in April which avoided an
imminent covenant breach and aligned all bank and bond maturities
to 2012, a GBP510 million equity raising in May which reduced debt
levels, and evidence of positive free cash flow (GBP233 million at
H109,  n a LTM basis).  These measures were achieved despite a
severe downturn in TW's key UK and US housing markets.  TW's
ratings had been on RWP pending receipt of information and a
review of TW's updated strategy and forecasts, which has now been
completed.

Fitch said the ratings were nonetheless constrained by significant
concerns that TW may not be sufficiently cash-generative over the
coming three years to repay or support the refinancing of up to
GBP1,875 million (if fully drawn) of debt maturities in 2012,
especially if housing market conditions remain weak.  Despite the
reduction in debt following the equity issuance, TW remained over-
leveraged with net debt of GBP1,034 million relative to funds from
operations (FFO) of GBP58.2 million as of H109, on an LTM basis.

According to Fitch, TW's ability to deleverage and position itself
for a refinancing remains highly dependent on market conditions.
Despite tentative signs of a stabilization in the UK housing
market, fundamental indicators, such as unemployment,
affordability, mortgage lending and interest rate expectations
point to risks of further market weakness over the coming 1-3
years.  Weak market conditions, or even a secondary downturn,
could stress TW's cash flows to the point where material
deleveraging is not achievable.

The ability of TW to reduce debt will also depend on its
management of working capital.

Covenant headroom may also be a concern going forward, with Fitch
forecasting that TW could struggle to comply with its operational
cash flow covenant by as early as 2011 as covenant levels tighten.
Thus although TW's current liquidity position appears strong (with
cash balances of GBP73 million and access to GBP806 million of
committed undrawn facilities at H109, relative to zero scheduled
debt maturities until 2012), liquidity issues could re-emerge if
covenant compliance becomes problematic.


===============
X X X X X X X X
===============


* Fitch Sees Signs of Stabilization in European Leveraged Buyouts
-----------------------------------------------------------------
Fitch Ratings says in a special report published May 13, 2010,
that signs of stabilization have emerged in the agency's shadow
ratings of European leveraged buyouts, although looming
refinancing risk for EUR200 billion in principal payments falling
due between 2013 and 2016 limits material rating upside.
"Fitch's shadow ratings for European leveraged buyouts have
started to stabilize, although at lower average rating levels
compared to pre-crisis levels," said Pablo Mazzini, Senior
Director in Fitch's Leveraged Finance team in London.  "The lower
ratings reflect the weakened credit profiles of most European
leveraged buyouts and operating performance is expected to improve
only modestly.  In addition, refinancing risk is likely to
represent a significant issue as median total leverage to EBITDA
for the portfolio remains above 6.5x and widespread loan
maturities loom after 2012."

Although the share of defaults by volume in Fitch's shadow-rated
portfolio declined to 6.5% as of the last twelve months (LTM)
ended March 2010 from 10.5% as of LTM ended September 2009, new
defaults and coercive debt amendments remain a possibility in the
next 12-24 months as 17% of the portfolio continued to be rated
"CCC*" or lower at end March 2010 compared with 19.4% in September
2009.

"The global financial crisis revealed greater polarization and
differentiation between credits, with a high share of stressed or
distressed credits rated 'B-*' and below compared to more robust
credits rated 'B+*' or higher," said Cecile Durand-Agbo, a
Director in Fitch's Leveraged Finance Group.

This latter group of credits rated 'B+*' or higher now represents
15% of all shadow ratings in the leveraged buyout sector compared
with 12.2% in September 2009.  Stronger credits often demonstrated
sustained cash flow generation and de-leveraging progress
notwithstanding adverse economic conditions through 2009 and into
2010.

Any additional improvement across the broader portfolio will
remain largely dependant on economic conditions and revenue
growth, as in most cases cost-cutting or cash improvement measures
have already been taken.  For many of the LBOs in Fitch's
portfolio, debt refinancing through access to the public capital
markets, be it via an IPO or a bond issue, is not a viable option
because of excess capacity in an industry, lack of pricing power
given the often small-to-medium size of the borrower and high
total leverage levels.


* Large Companies with Insolvent Balance Sheet
----------------------------------------------

                                      Total
                                      Shareholders   Total
                                      Equity         Assets
  Company             Ticker          (US$)          (US$)
  -------             ------          ------         ------

AUSTRIA
-------
LIBRO AG              LIB AV           -109013328   171684389.1
LIBRO AG              LB6 GR           -109013328   171684389.1
LIBRO AG              LBROF US         -109013328   171684389.1
LIBRO AG              LIBR AV          -109013328   171684389.1
SKYEUROPE             SKY PW         -89480486.93   159076577.5
SKYEUROPE             SKYP PW        -89480486.93   159076577.5
SKYEUROPE HLDG        S8E GR         -89480486.93   159076577.5
SKYEUROPE HLDG        SKY EU         -89480486.93   159076577.5
SKYEUROPE HLDG        SKYPLN EU      -89480486.93   159076577.5
SKYEUROPE HLDG        SKURF US       -89480486.93   159076577.5
SKYEUROPE HLDG        SKY LI         -89480486.93   159076577.5
SKYEUROPE HLDG        SKYA PZ        -89480486.93   159076577.5
SKYEUROPE HLDG        SKY AV         -89480486.93   159076577.5
SKYEUROPE HLDG        SKY EO         -89480486.93   159076577.5
SKYEUROPE HLDG        SKYV IX        -89480486.93   159076577.5
SKYEUROPE HLDG        SKYPLN EO      -89480486.93   159076577.5
SKYEUROPE HOL-RT      SK1 AV         -89480486.93   159076577.5

BELGIUM
-------
SABENA SA             SABA BB        -84766501.61    2196477161

CROATIA
-------
OT OPTIMA TELEKO      2299892Z CZ       -48565065   119632635.5
OT-OPTIMA TELEKO      OPTERA CZ         -48565065   119632635.5

CYPRUS
------
LIBRA HOLIDA-RTS      LGWR CY         -27821889.5     240947718
LIBRA HOLIDA-RTS      LBR CY          -27821889.5     240947718
LIBRA HOLIDAY-RT      3167808Z CY     -27821889.5     240947718
LIBRA HOLIDAYS        LHGR CY         -27821889.5     240947718
LIBRA HOLIDAYS        LHGCYP EU       -27821889.5     240947718
LIBRA HOLIDAYS        LHGCYP EO       -27821889.5     240947718
LIBRA HOLIDAYS G      LHG EO          -27821889.5     240947718
LIBRA HOLIDAYS G      LHG CY          -27821889.5     240947718
LIBRA HOLIDAYS G      LHG PZ          -27821889.5     240947718
LIBRA HOLIDAYS G      LHG EU          -27821889.5     240947718
LIBRA HOLIDAYS-P      LBHG PZ         -27821889.5     240947718
LIBRA HOLIDAYS-P      LBHG CY         -27821889.5     240947718

CZECH REPUBLIC
--------------
CKD PRAHA HLDG        CKDH CP        -89435858.16     192305153
CKD PRAHA HLDG        CKDH US        -89435858.16     192305153
CKD PRAHA HLDG        CKDPF US       -89435858.16     192305153
CKD PRAHA HLDG        CDP EX         -89435858.16     192305153
CKD PRAHA HLDG        297687Q GR     -89435858.16     192305153
SETUZA AS             2994767Q EO    -61453764.17   138582273.6
SETUZA AS             SETU IX        -61453764.17   138582273.6
SETUZA AS             SETUZA PZ      -61453764.17   138582273.6
SETUZA AS             2994759Q EO    -61453764.17   138582273.6
SETUZA AS             2994755Q EU    -61453764.17   138582273.6
SETUZA AS             SZA EX         -61453764.17   138582273.6
SETUZA AS             2994763Q EU    -61453764.17   138582273.6
SETUZA AS             SETUZA CP      -61453764.17   138582273.6
SETUZA AS             SZA GR         -61453764.17   138582273.6

DENMARK
-------
ELITE SHIPPING        ELSP DC        -27715991.74   100892900.3
OBTEC                 OBT DC         -18360748.78   147485890.1
OBTEC                 OBTEC DC       -18360748.78   147485890.1
OBTEC-NEW SHARES      OBTECN DC      -18360748.78   147485890.1
OBTEC-OLD             OBTN DC        -18360748.78   147485890.1
ROSKILDE BANK         ROSBF US       -532868894.9    7876687324
ROSKILDE BANK         RKI GR         -532868894.9    7876687324
ROSKILDE BANK         ROSK EO        -532868894.9    7876687324
ROSKILDE BANK         ROSKF US       -532868894.9    7876687324
ROSKILDE BANK         ROSK PZ        -532868894.9    7876687324
ROSKILDE BANK         RSKC IX        -532868894.9    7876687324
ROSKILDE BANK         ROSK DC        -532868894.9    7876687324
ROSKILDE BANK         ROSK EU        -532868894.9    7876687324
ROSKILDE BANK-RT      916603Q DC     -532868894.9    7876687324
ROSKILDE BAN-NEW      ROSKN DC       -532868894.9    7876687324
ROSKILDE BAN-RTS      ROSKT DC       -532868894.9    7876687324
SCANDINAVIAN BRA      SBS DC         -18360748.78   147485890.1
SCANDINAVIAN BRA      SBSC IX        -18360748.78   147485890.1
SCANDINAVIAN BRA      SBS1 EU        -18360748.78   147485890.1
SCANDINAVIAN BRA      SBS1 EO        -18360748.78   147485890.1
SCANDINAVIAN BRA      SBS1 BY        -18360748.78   147485890.1
SCANDINAVIAN BRA      SBSD PZ        -18360748.78   147485890.1
SCANDINAVIAN BRA      SBS1EUR EO     -18360748.78   147485890.1
SCANDINAVIAN BRA      SBS1EUR EU     -18360748.78   147485890.1

FRANCE
------
CARRERE GROUP         CAR2 EO        -9829592.638     279906700
CARRERE GROUP         XRR GR         -9829592.638     279906700
CARRERE GROUP         CAR2 EU        -9829592.638     279906700
CARRERE GROUP         CAR FP         -9829592.638     279906700
CARRERE GROUP         CRRHF US       -9829592.638     279906700
CARRERE GROUP         CARG FP        -9829592.638     279906700
CARRERE GROUP         CARF PZ        -9829592.638     279906700
CARRERE GROUP         CRGP IX        -9829592.638     279906700
CHAINE ET TRAME       CTRM FP        -58947458.16   116889783.9
CHAINE ET TRAME       CHTR FP        -58947458.16   116889783.9
GRANDE PAROISSE       GDPA FP        -927267926.9     629287290
GRANDE PAROISSE       GAPA FP        -927267926.9     629287290
GRANDE PAROISSE       GDPXF US       -927267926.9     629287290
IMMOB HOTEL BALN      IMHB FP        -170171676.3   212556594.4
IMMOB HOTELIERE       IMBHF US       -170171676.3   212556594.4
IMMOB HOTELIERE       IMMH IX        -170171676.3   212556594.4
IMMOB HOTELIERE       IMHO PZ        -170171676.3   212556594.4
IMMOB HOTELIERE       IMH GR         -170171676.3   212556594.4
IMMOB HOTELIERE       SIH FP         -170171676.3   212556594.4
IMMOB HOTELIERE       IMHO EO        -170171676.3   212556594.4
IMMOB HOTELIERE       IMHO FP        -170171676.3   212556594.4
IMMOB HOTELIERE       IMHO EU        -170171676.3   212556594.4
LAB DOLISOS           DOLI FP        -27752176.19   110485462.4
LAB DOLISOS           LADL FP        -27752176.19   110485462.4
MATUSSIERE & FOR      1007765Q FP    -77896683.67   293868350.8
MATUSSIERE & FOR      MTUSF US       -77896683.67   293868350.8
MB RETAIL EUROPE      CTRF IX        -58947458.16   116889783.9
MB RETAIL EUROPE      MBRE EO        -58947458.16   116889783.9
MB RETAIL EUROPE      MBRE EU        -58947458.16   116889783.9
MB RETAIL EUROPE      MBRE FP        -58947458.16   116889783.9
MB RETAIL EUROPE      MBRE PZ        -58947458.16   116889783.9
OROSDI                OROS FP         -7291.55004   131233317.6
OROSDI-BACK           OROS EO         -7291.55004   131233317.6
OROSDI-BACK           OROS EU         -7291.55004   131233317.6
OROSDI-BACK           BACK IX         -7291.55004   131233317.6
OROSDI-BACK           ORBA FP         -7291.55004   131233317.6
OROSDI-BACK           OROS PZ         -7291.55004   131233317.6
PAGESJAUNES           PGJUF US        -3171655188    1168738032
PAGESJAUNES GRP       PAJ TQ          -3171655188    1168738032
PAGESJAUNES GRP       PAJGBX EO       -3171655188    1168738032
PAGESJAUNES GRP       PAJ BQ          -3171655188    1168738032
PAGESJAUNES GRP       PAJ VX          -3171655188    1168738032
PAGESJAUNES GRP       PAJ FP          -3171655188    1168738032
PAGESJAUNES GRP       PAJ EU          -3171655188    1168738032
PAGESJAUNES GRP       QS3 GR          -3171655188    1168738032
PAGESJAUNES GRP       PAJUSD EU       -3171655188    1168738032
PAGESJAUNES GRP       PAJ QM          -3171655188    1168738032
PAGESJAUNES GRP       PAJP IX         -3171655188    1168738032
PAGESJAUNES GRP       PAJ IX          -3171655188    1168738032
PAGESJAUNES GRP       PAJ EO          -3171655188    1168738032
PAGESJAUNES GRP       PAJGBP EO       -3171655188    1168738032
PAGESJAUNES GRP       PAJUSD EO       -3171655188    1168738032
PAGESJAUNES GRP       PAJ PZ          -3171655188    1168738032
PAGESJAUNES GRP       PAJ NQ          -3171655188    1168738032
PAGESJAUNES GRP       PAJGBX EU       -3171655188    1168738032
PAGESJAUNES GRP       PAJ LI          -3171655188    1168738032
PAGESJAUNES GRP       PAJ EB          -3171655188    1168738032
RHODIA SA             2324015Q EO    -883734308.8    6075165782
RHODIA SA             RHA BQ         -883734308.8    6075165782
RHODIA SA             RHANR FP       -883734308.8    6075165782
RHODIA SA             RHANR PZ       -883734308.8    6075165782
RHODIA SA             2324011Q EU    -883734308.8    6075165782
RHODIA SA             RHA NQ         -883734308.8    6075165782
RHODIA SA             RHAY IX        -883734308.8    6075165782
RHODIA SA             RHAUSD EO      -883734308.8    6075165782
RHODIA SA             RHA EB         -883734308.8    6075165782
RHODIA SA             RHA VX         -883734308.8    6075165782
RHODIA SA             RHAUSD EU      -883734308.8    6075165782
RHODIA SA             RHAGBP EO      -883734308.8    6075165782
RHODIA SA             RHA TQ         -883734308.8    6075165782
RHODIA SA             RHD GR         -883734308.8    6075165782
RHODIA SA             RHDAF US       -883734308.8    6075165782
RHODIA SA             RHA QM         -883734308.8    6075165782
RHODIA SA             RHDI GR        -883734308.8    6075165782
RHODIA SA             3218857Q IX    -883734308.8    6075165782
RHODIA SA             RHA FP         -883734308.8    6075165782
RHODIA SA             RHADF US       -883734308.8    6075165782
RHODIA SA             RHAGBX EO      -883734308.8    6075165782
RHODIA SA             RHAGBX EU      -883734308.8    6075165782
RHODIA SA             RHA PZ         -883734308.8    6075165782
RHODIA SA             RHA IX         -883734308.8    6075165782
RHODIA SA             RHA EU         -883734308.8    6075165782
RHODIA SA             RHA EO         -883734308.8    6075165782
RHODIA SA - NEW       2335921Q FP    -883734308.8    6075165782
RHODIA SA - NEW       3156011Q FP    -883734308.8    6075165782
RHODIA SA - NEW       RHANV FP       -883734308.8    6075165782
RHODIA SA - NEW       3506266Q FP    -883734308.8    6075165782
RHODIA SA-ADR         RHAYY US       -883734308.8    6075165782
RHODIA SA-RIGHTS      653447Q FP     -883734308.8    6075165782
RHODIA SA-RIGHTS      RHADS FP       -883734308.8    6075165782
SDR CENTREST          117241Q FP     -132420119.6   252176017.2
SELCODIS              SLCO PZ        -21481214.33   175720770.8
SELCODIS              SLCO EU        -21481214.33   175720770.8
Selcodis              SPVX FP        -21481214.33   175720770.8
SELCODIS              SLCO FP        -21481214.33   175720770.8
SELCODIS              SPVX IX        -21481214.33   175720770.8
SELCODIS              SLCO EO        -21481214.33   175720770.8
TECHNICOLOR           TCH FP         -649203365.6    6191078453
TECHNICOLOR           TMSGBP EO      -649203365.6    6191078453
TECHNICOLOR           TCH TQ         -649203365.6    6191078453
TECHNICOLOR           TMS EU         -649203365.6    6191078453
TECHNICOLOR           TMS PZ         -649203365.6    6191078453
TECHNICOLOR           TMSUSD EO      -649203365.6    6191078453
TECHNICOLOR           TMSGBX EU      -649203365.6    6191078453
TECHNICOLOR           TMMLF US       -649203365.6    6191078453
TECHNICOLOR           TCH NQ         -649203365.6    6191078453
TECHNICOLOR           TMS NQ         -649203365.6    6191078453
TECHNICOLOR           TMS EB         -649203365.6    6191078453
TECHNICOLOR           TMM IX         -649203365.6    6191078453
TECHNICOLOR           TMS BQ         -649203365.6    6191078453
TECHNICOLOR           TMSGBX EO      -649203365.6    6191078453
TECHNICOLOR           TMS GK         -649203365.6    6191078453
TECHNICOLOR           TMS EO         -649203365.6    6191078453
TECHNICOLOR           TCH QM         -649203365.6    6191078453
TECHNICOLOR           TMSUSD EU      -649203365.6    6191078453
TECHNICOLOR           TNM GR         -649203365.6    6191078453
TECHNICOLOR -RTS      TCHDS FP       -649203365.6    6191078453
TECHNICOLOR-ADR       TCH US         -649203365.6    6191078453
THOMSON - NEW         TMSNV FP       -649203365.6    6191078453
THOMSON - NEW         2336061Q FP    -649203365.6    6191078453
THOMSON (EX-TMM)      TMS FP         -649203365.6    6191078453
THOMSON (EX-TMM)      TMS TQ         -649203365.6    6191078453
THOMSON (EX-TMM)      TMM VX         -649203365.6    6191078453
THOMSON (EX-TMM)      TMS QM         -649203365.6    6191078453
THOMSON (EX-TMM)      TNMA GR        -649203365.6    6191078453
THOMSON (EX-TMM)      TMMN FP        -649203365.6    6191078453
THOMSON (EX-TMM)      TMM ES         -649203365.6    6191078453
THOMSON (EX-TMM)      TMS VX         -649203365.6    6191078453
THOMSON (EX-TMM)      TMS US         -649203365.6    6191078453
THOMSON (EX-TMM)      TMM LN         -649203365.6    6191078453
THOMSON MULT-ADR      TMS-P US       -649203365.6    6191078453
THOMSON MULTIMED      TMM FP         -649203365.6    6191078453
THOMSON MULTI-NE      ZTM FP         -649203365.6    6191078453
TROUVAY CAUVIN        TVYCF US       -396977.9956   133986439.7
TROUVAY CAUVIN        ETEC FP        -396977.9956   133986439.7

GEORGIA
-------
DEVELICA DEUTSCH      DDE IX         -107879893.8    1235370057
DEVELICA DEUTSCH      DDE PZ         -107879893.8    1235370057
DEVELICA DEUTSCH      DDE LN         -107879893.8    1235370057
DEVELICA DEUTSCH      D4B GR         -107879893.8    1235370057
DEVELICA DEUTSCH      DDE PG         -107879893.8    1235370057
O TWELVE ESTATES      OTE LN         -7152968.898   297722697.4
O TWELVE ESTATES      OTE EU         -7152968.898   297722697.4
O TWELVE ESTATES      OTE EO         -7152968.898   297722697.4
O TWELVE ESTATES      O2T GR         -7152968.898   297722697.4
O TWELVE ESTATES      OTE IX         -7152968.898   297722697.4
O TWELVE ESTATES      OTE PZ         -7152968.898   297722697.4
O TWELVE ESTATES      OTEEUR EO      -7152968.898   297722697.4
O TWELVE ESTATES      OTE PG         -7152968.898   297722697.4

GERMANY
-------
AGOR AG               DOOD PZ        -482446.6262   144432986.2
AGOR AG               DOOG IX        -482446.6262   144432986.2
AGOR AG               DOO EU         -482446.6262   144432986.2
AGOR AG               DOO EO         -482446.6262   144432986.2
AGOR AG               DOO GR         -482446.6262   144432986.2
AGOR AG               NDAGF US       -482446.6262   144432986.2
AGOR AG-RTS           2301918Z GR    -482446.6262   144432986.2
ALNO AG               ANO EO         -101940692.7   236502063.1
ALNO AG               ANO GR         -101940692.7   236502063.1
ALNO AG               ALNO IX        -101940692.7   236502063.1
ALNO AG               ANO PZ         -101940692.7   236502063.1
ALNO AG               ANO EU         -101940692.7   236502063.1
ALNO AG-NEW           ANO1 GR        -101940692.7   236502063.1
ALNO AG-RTS           2259765Z GR    -101940692.7   236502063.1
BROKAT AG             BROFQ US       -27139391.98   143536859.7
BROKAT AG             BROAF US       -27139391.98   143536859.7
BROKAT AG             BRKAF US       -27139391.98   143536859.7
BROKAT AG             BKISF US       -27139391.98   143536859.7
BROKAT AG -NEW        BRJ1 NM        -27139391.98   143536859.7
BROKAT AG -NEW        BRJ1 GR        -27139391.98   143536859.7
BROKAT AG-ADR         BROA US        -27139391.98   143536859.7
BROKAT TECH -ADR      BROAQ US       -27139391.98   143536859.7
BROKAT TECH AG        BRJ GR         -27139391.98   143536859.7
BROKAT TECH AG        BRJ NM         -27139391.98   143536859.7
BROKAT TECH AG        BSA LN         -27139391.98   143536859.7
BROKAT TECH-ADR       BRJA GR        -27139391.98   143536859.7
CBB HOLDING AG        COBG PZ        -42994732.85   904723627.8
CBB HOLDING AG        COBG IX        -42994732.85   904723627.8
CBB HOLDING AG        COB GR         -42994732.85   904723627.8
CBB HOLDING AG        COB2 EO        -42994732.85   904723627.8
CBB HOLDING AG        CUBDF US       -42994732.85   904723627.8
CBB HOLDING AG        COB2 EU        -42994732.85   904723627.8
CBB HOLDING-NEW       COB1 GR        -42994732.85   904723627.8
CBB HOLDING-NEW       COB3 GR        -42994732.85   904723627.8
CBB HOLD-NEW 97       COB2 GR        -42994732.85   904723627.8
CINEMAXX AG           MXC EO         -14445849.72   194465786.9
CINEMAXX AG           MXC PZ         -14445849.72   194465786.9
CINEMAXX AG           MXCUSD EU      -14445849.72   194465786.9
CINEMAXX AG           MXC GR         -14445849.72   194465786.9
CINEMAXX AG           CNEMF US       -14445849.72   194465786.9
CINEMAXX AG           MXCG IX        -14445849.72   194465786.9
CINEMAXX AG           MXC EU         -14445849.72   194465786.9
CINEMAXX AG           MXCUSD EO      -14445849.72   194465786.9
CINEMAXX AG-RTS       MXC8 GR        -14445849.72   194465786.9
DORT ACTIEN-BRAU      944167Q GR     -12689156.29   117537053.7
DORT ACTIEN-RTS       DAB8 GR        -12689156.29   117537053.7
EDOB ABWICKLUNGS      ESC EO         -22323463.23   425598807.8
EDOB ABWICKLUNGS      ESC GR         -22323463.23   425598807.8
EDOB ABWICKLUNGS      ESC TQ         -22323463.23   425598807.8
EDOB ABWICKLUNGS      ESC EU         -22323463.23   425598807.8
EDOB ABWICKLUNGS      ESCDF US       -22323463.23   425598807.8
EDOB ABWICKLUNGS      ESC BQ         -22323463.23   425598807.8
EDOB ABWICKLUNGS      ESC PZ         -22323463.23   425598807.8
EM.TV & MERCHAND      ETV NM         -22067409.41   849175624.7
EM.TV & MERCHAND      ETV LN         -22067409.41   849175624.7
EM.TV & MERCHAND      ETVMF US       -22067409.41   849175624.7
EM.TV & MERCHAND      EMTVF US       -22067409.41   849175624.7
EM.TV & MERCHAND      ETV VX         -22067409.41   849175624.7
EM.TV & MERCHAND      985403Q GR     -22067409.41   849175624.7
EM.TV & MERC-NEW      ETV1 NM        -22067409.41   849175624.7
EM.TV & MERC-NEW      ETV1 GR        -22067409.41   849175624.7
EM.TV & MERC-RTS      ETV8 GR        -22067409.41   849175624.7
EM.TV & MERC-RTS      ETV8 NM        -22067409.41   849175624.7
ESCADA AG             ESCG IX        -22323463.23   425598807.8
ESCADA AG -PFD        ESC3 GR        -22323463.23   425598807.8
ESCADA AG-NEW         ESCN EU        -22323463.23   425598807.8
ESCADA AG-NEW         ESCN EO        -22323463.23   425598807.8
ESCADA AG-NEW         ESCC GR        -22323463.23   425598807.8
ESCADA AG-NEW         3069367Q GR    -22323463.23   425598807.8
ESCADA AG-NEW         ESCD GR        -22323463.23   425598807.8
ESCADA AG-NEW         ESCN GR        -22323463.23   425598807.8
ESCADA AG-NEW         835345Q GR     -22323463.23   425598807.8
ESCADA AG-RTS         ESCE GR        -22323463.23   425598807.8
ESCADA AG-SP ADR      ESCDY US       -22323463.23   425598807.8
KABEL DEUTSCHLAN      KD8USD EO       -1408286725    3144138917
KABEL DEUTSCHLAN      KD8USD EU       -1408286725    3144138917
KABEL DEUTSCHLAN      KD8 EU          -1408286725    3144138917
KABEL DEUTSCHLAN      KD8 EO          -1408286725    3144138917
KABEL DEUTSCHLAN      KD8 GR          -1408286725    3144138917
KAUFRING AG           KFR EO         -19296489.56   150995473.8
KAUFRING AG           KFR EU         -19296489.56   150995473.8
KAUFRING AG           KFR GR         -19296489.56   150995473.8
KAUFRING AG           KFR PZ         -19296489.56   150995473.8
KAUFRING AG           KAUG IX        -19296489.56   150995473.8
MANIA TECHNOLOGI      MNI1 EO         -35060806.5   107465713.6
MANIA TECHNOLOGI      MNI1 EU         -35060806.5   107465713.6
MANIA TECHNOLOGI      MNI NM          -35060806.5   107465713.6
MANIA TECHNOLOGI      2260970Z GR     -35060806.5   107465713.6
MANIA TECHNOLOGI      MIAVF US        -35060806.5   107465713.6
MANIA TECHNOLOGI      MNIG IX         -35060806.5   107465713.6
MANIA TECHNOLOGI      MNI PZ          -35060806.5   107465713.6
MANIA TECHNOLOGI      MNI GR          -35060806.5   107465713.6
MATERNUS KLINI-N      MAK1 GR        -17804909.71   189933668.6
MATERNUS-KLINIKE      MAKG IX        -17804909.71   189933668.6
MATERNUS-KLINIKE      MAK GR         -17804909.71   189933668.6
MATERNUS-KLINIKE      MNUKF US       -17804909.71   189933668.6
MATERNUS-KLINIKE      MAK EO         -17804909.71   189933668.6
MATERNUS-KLINIKE      MAK EU         -17804909.71   189933668.6
MATERNUS-KLINIKE      MAK PZ         -17804909.71   189933668.6
NORDAG AG             DOO1 GR        -482446.6262   144432986.2
NORDAG AG-PFD         DOO3 GR        -482446.6262   144432986.2
NORDAG AG-RTS         DOO8 GR        -482446.6262   144432986.2
NORDSEE AG            533061Q GR     -8200552.046   194616922.6
PRIMACOM AG           PRC GR         -18656728.68   610380925.7
PRIMACOM AG           PRC EO         -18656728.68   610380925.7
PRIMACOM AG           PRCG PZ        -18656728.68   610380925.7
PRIMACOM AG           PRC2 GR        -18656728.68   610380925.7
PRIMACOM AG           PCAGF US       -18656728.68   610380925.7
PRIMACOM AG           PRC NM         -18656728.68   610380925.7
PRIMACOM AG           PRC EU         -18656728.68   610380925.7
PRIMACOM AG           PRCG IX        -18656728.68   610380925.7
PRIMACOM AG-ADR       PCAGY US       -18656728.68   610380925.7
PRIMACOM AG-ADR       PCAG US        -18656728.68   610380925.7
PRIMACOM AG-ADR+      PCAG ES        -18656728.68   610380925.7
RAG ABWICKL-REG       ROSG PZ        -1744121.914   217776125.8
RAG ABWICKL-REG       ROS1 EO        -1744121.914   217776125.8
RAG ABWICKL-REG       ROS1 EU        -1744121.914   217776125.8
RAG ABWICKL-REG       ROS GR         -1744121.914   217776125.8
RAG ABWICKL-REG       RSTHF US       -1744121.914   217776125.8
RINOL AG              RNLAF US            -2.7111   168095049.1
RINOL AG              RILB EO             -2.7111   168095049.1
RINOL AG              RILB IX             -2.7111   168095049.1
RINOL AG              RILB EU             -2.7111   168095049.1
RINOL AG              RIL GR              -2.7111   168095049.1
RINOL AG              RILB PZ             -2.7111   168095049.1
RINOL AG              RILB GR             -2.7111   168095049.1
ROSENTHAL AG          2644179Q GR    -1744121.914   217776125.8
ROSENTHAL AG-ACC      ROS4 GR        -1744121.914   217776125.8
ROSENTHAL AG-ADR      RSTHY US       -1744121.914   217776125.8
ROSENTHAL AG-REG      ROSG IX        -1744121.914   217776125.8
SANDER (JIL) AG       JLSDF US       -6153256.917   127548039.7
SANDER (JIL) AG       SAD GR         -6153256.917   127548039.7
SANDER (JIL)-PRF      SAD3 GR        -6153256.917   127548039.7
SANDER (JIL)-PRF      2916161Q EO    -6153256.917   127548039.7
SANDER (JIL)-PRF      SAD3 PZ        -6153256.917   127548039.7
SANDER (JIL)-PRF      2916157Q EU    -6153256.917   127548039.7
SINNLEFFERS AG        WHG GR         -4491629.961   453887060.1
SPAR HANDELS-AG       773844Q GR     -442426199.5    1433020961
SPAR HANDELS-AG       SPHFF US       -442426199.5    1433020961
SPAR HAND-PFD NV      SPA3 GR        -442426199.5    1433020961
TA TRIUMPH-ACQ        TWNA EU        -124667889.5   375247226.8
TA TRIUMPH-ACQ        TWNA GR        -124667889.5   375247226.8
TA TRIUMPH-ADLER      TWN EU         -124667889.5   375247226.8
TA TRIUMPH-ADLER      TWN GR         -124667889.5   375247226.8
TA TRIUMPH-ADLER      TWN PZ         -124667889.5   375247226.8
TA TRIUMPH-ADLER      TTZAF US       -124667889.5   375247226.8
TA TRIUMPH-ADLER      TWN EO         -124667889.5   375247226.8
TA TRIUMPH-ADLER      TWNG IX        -124667889.5   375247226.8
TA TRIUMPH-A-RTS      1018916Z GR    -124667889.5   375247226.8
TA TRIUMPH-NEW        TWN1 GR        -124667889.5   375247226.8
TA TRIUMPH-RT         TWN8 GR        -124667889.5   375247226.8
TA TRIUMPH-RTS        3158577Q GR    -124667889.5   375247226.8
VIVANCO GRUPPE        VVA1 PZ        -22198683.12   111990951.4
VIVANCO GRUPPE        VVA1 EU        -22198683.12   111990951.4
VIVANCO GRUPPE        VIVGF US       -22198683.12   111990951.4
VIVANCO GRUPPE        VVA1 EO        -22198683.12   111990951.4
VIVANCO GRUPPE        VVA GR         -22198683.12   111990951.4
VIVANCO GRUPPE        VVAG IX        -22198683.12   111990951.4
VIVANCO GRUPPE        VVA1 GR        -22198683.12   111990951.4

GREECE
------
AG PETZETAKIS SA      PETZK PZ       -49833882.19   235624993.7
AG PETZETAKIS SA      PZETF US       -49833882.19   235624993.7
AG PETZETAKIS SA      PETZK EU       -49833882.19   235624993.7
AG PETZETAKIS SA      PETZK GA       -49833882.19   235624993.7
AG PETZETAKIS SA      PTZ GR         -49833882.19   235624993.7
AG PETZETAKIS SA      PTZ1 GR        -49833882.19   235624993.7
AG PETZETAKIS SA      PETZK EO       -49833882.19   235624993.7
ALMA-ATERM-AUCT       ATERME GA      -5087117.061   107164792.1
ALMA-ATERMON SA       ATERM EO       -5087117.061   107164792.1
ALMA-ATERMON SA       ATERM EU       -5087117.061   107164792.1
ALMA-ATERMON SA       ATERM PZ       -5087117.061   107164792.1
ALTEC SA -AUCT        ALTECE GA        -118834340   160209968.7
ALTEC SA INFO         AXY GR           -118834340   160209968.7
ALTEC SA INFO         ALTEC GA         -118834340   160209968.7
ALTEC SA INFO         ALTEC EU         -118834340   160209968.7
ALTEC SA INFO         ATCQF US         -118834340   160209968.7
ALTEC SA INFO         ALTEC PZ         -118834340   160209968.7
ALTEC SA INFO         ALTEC EO         -118834340   160209968.7
ALTEC SA INFO-RT      ALTECR GA        -118834340   160209968.7
ALTEC SA INFO-RT      ALTED GA         -118834340   160209968.7
ASPIS PRONIA GE       ASASK GA       -189908329.1   896537349.7
ASPIS PRONIA GE       AISQF US       -189908329.1   896537349.7
ASPIS PRONIA GE       ASASK EO       -189908329.1   896537349.7
ASPIS PRONIA GE       ASASK PZ       -189908329.1   896537349.7
ASPIS PRONIA GE       ASASK EU       -189908329.1   896537349.7
ASPIS PRONIA -PF      ASAPR GA       -189908329.1   896537349.7
ASPIS PRONIA-PF       APGV GR        -189908329.1   896537349.7
ASPIS PRONIA-PF       ASASP GA       -189908329.1   896537349.7
ASPIS PRONIA-RT       ASASKR GA      -189908329.1   896537349.7
ASPIS PRONOIA GE      APGG IX        -189908329.1   896537349.7
ASPIS PRONOIA GE      APG GR         -189908329.1   896537349.7
ASPIS PRON-PF RT      ASASPR GA      -189908329.1   896537349.7
ATERMON DYNAMIC       ATERM GA       -5087117.061   107164792.1
EMPEDOS SA            EMPED GA       -33637669.62   174742646.9
EMPEDOS SA-RTS        EMPEDR GA      -33637669.62   174742646.9
KOUMBAS INSUR-RT      KOUMD GA       -38449174.63   221302771.2
KOUMBAS RTS           KOUMR GA       -38449174.63   221302771.2
KOUMBAS SYNERGY       KOUM EO        -38449174.63   221302771.2
KOUMBAS SYNERGY       KOUM GA        -38449174.63   221302771.2
KOUMBAS SYNERGY       KOUMF US       -38449174.63   221302771.2
KOUMBAS SYNERGY       KOUM EU        -38449174.63   221302771.2
KOUMBAS SYNERGY       KOUM PZ        -38449174.63   221302771.2
NAOUSSA SPIN -RT      NAOYD GA         -130380438   326934399.4
NAOUSSA SPIN-AUC      NAOYKE GA        -130380438   326934399.4
NAOUSSA SPINNING      NML1 GR          -130380438   326934399.4
NAOUSSA SPINNING      NML GR           -130380438   326934399.4
NAOUSSA SPIN-RTS      NAOYKR GA        -130380438   326934399.4
PETZET - PFD-RTS      PETZPD GA      -49833882.19   235624993.7
PETZETAKIS - RTS      PETZKD GA      -49833882.19   235624993.7
PETZETAKIS-AUC        PETZKE GA      -49833882.19   235624993.7
PETZETAKIS-PFD        PTZ3 GR        -49833882.19   235624993.7
PETZETAKIS-PFD        PETZP GA       -49833882.19   235624993.7
RADIO KORASSIDIS      RAKOF US       -100972173.9   244951680.3
RADIO KORASSIDIS      KORA GA        -100972173.9   244951680.3
RADIO KORASSIDIS      RKC GR         -100972173.9   244951680.3
RADIO KORASSI-RT      KORAD GA       -100972173.9   244951680.3
RADIO KORASS-RTS      KORAR GA       -100972173.9   244951680.3
THEMELIODOMI          THEME GA       -55751178.85   232036822.6
THEMELIODOMI-AUC      THEMEE GA      -55751178.85   232036822.6
THEMELIODOMI-RTS      THEMER GA      -55751178.85   232036822.6
THEMELIODOMI-RTS      THEMED GA      -55751178.85   232036822.6
UNITED TEXTILES       NAOSF US         -130380438   326934399.4
UNITED TEXTILES       NAOYK GA         -130380438   326934399.4
UNITED TEXTILES       UTEX PZ          -130380438   326934399.4
UNITED TEXTILES       UTEX EU          -130380438   326934399.4
UNITED TEXTILES       UTEX EO          -130380438   326934399.4
UNITED TEXTILES       UTEX GA          -130380438   326934399.4

HUNGARY
-------
HUNGARIAN TELEPH      HUC EX            -75973000     835658048
HUNGARIAN TELEPH      HUC GR            -75973000     835658048
HUNGARIAN TELEPH      HUGC IX           -75973000     835658048
INVITEL HOLD-ADR      0IN GR            -75973000     835658048
INVITEL HOLD-ADR      IHO US            -75973000     835658048
INVITEL HOLD-ADR      INVHY US          -75973000     835658048
INVITEL HOLDINGS      3212873Z HB       -75973000     835658048

ICELAND
-------
AVION GROUP           B1Q GR           -223771648    2277793536
EIMSKIPAFELAG HF      HFEIM IR         -223771648    2277793536
EIMSKIPAFELAG HF      HFEIM PZ         -223771648    2277793536
EIMSKIPAFELAG HF      AVION IR         -223771648    2277793536
EIMSKIPAFELAG HF      HFEIMEUR EO      -223771648    2277793536
EIMSKIPAFELAG HF      HFEIM EU         -223771648    2277793536
EIMSKIPAFELAG HF      HFEIMEUR EU      -223771648    2277793536
EIMSKIPAFELAG HF      HFEIM EO         -223771648    2277793536

IRELAND
-------
BOUNDARY CAPITAL      BCP LN         -10192301.85   119787800.5
BOUNDARY CAPITAL      BCP1 PZ        -10192301.85   119787800.5
BOUNDARY CAPITAL      BCP1 EO        -10192301.85   119787800.5
BOUNDARY CAPITAL      BCP1 PG        -10192301.85   119787800.5
BOUNDARY CAPITAL      BCPI IX        -10192301.85   119787800.5
BOUNDARY CAPITAL      BCP1 EU        -10192301.85   119787800.5
BOUNDARY CAPITAL      BCP IX         -10192301.85   119787800.5
BOUNDARY CAPITAL      BCM GR         -10192301.85   119787800.5
BOUNDARY CAPITAL      BCP ID         -10192301.85   119787800.5
MCINERNEY HLDGS       MCI VX         -132691148.8   374303706.5
MCINERNEY HLDGS       MNEYF US       -132691148.8   374303706.5
MCINERNEY HLDGS       MK9 GR         -132691148.8   374303706.5
MCINERNEY HLDGS       MK9 PO         -132691148.8   374303706.5
MCINERNEY HLDGS       MCI IX         -132691148.8   374303706.5
MCINERNEY HLDGS       MCII IX        -132691148.8   374303706.5
MCINERNEY HLDGS       MCI LN         -132691148.8   374303706.5
MCINERNEY HLDGS       MCI EO         -132691148.8   374303706.5
MCINERNEY HLDGS       MK9C PZ        -132691148.8   374303706.5
MCINERNEY HLDGS       MCI ID         -132691148.8   374303706.5
MCINERNEY HLDGS       MCIGBX EO      -132691148.8   374303706.5
MCINERNEY HLDGS       MCIGBP EO      -132691148.8   374303706.5
MCINERNEY HLDGS       MCI EU         -132691148.8   374303706.5
MCINERNEY HLDGS       MCIGBX EU      -132691148.8   374303706.5
MCINERNEY HLDGS       MCI PO         -132691148.8   374303706.5
MCINERNEY PROP-A      MYP ID         -132691148.8   374303706.5
MCINERNEY PROP-A      MYP LN         -132691148.8   374303706.5
MCINERNEY PROP-A      MCIYF US       -132691148.8   374303706.5
MCINERNEY -RT FP      MCIF LN        -132691148.8   374303706.5
MCINERNEY -RT FP      MCIF ID        -132691148.8   374303706.5
MCINERNEY -RT NP      MCIN LN        -132691148.8   374303706.5
MCINERNEY -RT NP      MCIN ID        -132691148.8   374303706.5
MCINERNEY-ADR         MNEYY US       -132691148.8   374303706.5
PAYZONE PLC           PAYZ LN        -138030903.2   510010035.3
PAYZONE PLC           PAYZ PZ        -138030903.2   510010035.3
PAYZONE PLC           PAYZ EO        -138030903.2   510010035.3
PAYZONE PLC           PAYZ IX        -138030903.2   510010035.3
PAYZONE PLC           PAYZ PG        -138030903.2   510010035.3
PAYZONE PLC           4P6 GR         -138030903.2   510010035.3
PAYZONE PLC           PAYZ EU        -138030903.2   510010035.3
WATERFORD - RTS       508523Q LN     -505729895.2     820803256
WATERFORD - RTS       WWWB ID        -505729895.2     820803256
WATERFORD - RTS       WWWA ID        -505729895.2     820803256
WATERFORD - RTS       WWWB GR        -505729895.2     820803256
WATERFORD - RTS       WWWA GR        -505729895.2     820803256
WATERFORD - RTS       508519Q LN     -505729895.2     820803256
WATERFORD W-ADR       WATWY US       -505729895.2     820803256
WATERFORD WDGEWD      WATWF US       -505729895.2     820803256
WATERFORD WDGEWD      WATFF US       -505729895.2     820803256
WATERFORD WED-RT      WWWD ID        -505729895.2     820803256
WATERFORD WED-RT      WTFR LN        -505729895.2     820803256
WATERFORD WED-RT      WWWC GR        -505729895.2     820803256
WATERFORD WED-RT      WWWD GR        -505729895.2     820803256
WATERFORD WED-RT      586552Q LN     -505729895.2     820803256
WATERFORD WED-RT      586556Q LN     -505729895.2     820803256
WATERFORD WED-RT      WWWC ID        -505729895.2     820803256
WATERFORD WED-UT      WWW PO         -505729895.2     820803256
WATERFORD WED-UT      WWW GR         -505729895.2     820803256
WATERFORD WED-UT      WTFU LN        -505729895.2     820803256
WATERFORD WED-UT      WTFU EO        -505729895.2     820803256
WATERFORD WED-UT      WTFU EU        -505729895.2     820803256
WATERFORD WED-UT      WTFUGBX EU     -505729895.2     820803256
WATERFORD WED-UT      WWWD PZ        -505729895.2     820803256
WATERFORD WED-UT      WTFUGBX EO     -505729895.2     820803256
WATERFORD WED-UT      WTFU PO        -505729895.2     820803256
WATERFORD WED-UT      WTFU IX        -505729895.2     820803256
WATERFORD WED-UT      WTFU VX        -505729895.2     820803256
WATERFORD WED-UT      WTFU ID        -505729895.2     820803256
WATERFORD WE-RTS      WTFF LN        -505729895.2     820803256
WATERFORD WE-RTS      WTFN VX        -505729895.2     820803256
WATERFORD WE-RTS      WTFN LN        -505729895.2     820803256
WATERFORD WE-RTS      WTFN ID        -505729895.2     820803256
WATERFORD WE-RTS      WTFF ID        -505729895.2     820803256
WATERFORD-ADR UT      WFWA GR        -505729895.2     820803256
WATERFORD-ADR UT      WATFZ US       -505729895.2     820803256
WATERFORD-SUB         3001875Z ID    -505729895.2     820803256

ITALY
-----
AEDES AXA+W           AEAXAW IM      -24405906.61    1350851664
AEDES SPA             AE EU          -24405906.61    1350851664
AEDES SPA             AEDSF US       -24405906.61    1350851664
AEDES SPA             LLB GR         -24405906.61    1350851664
AEDES SPA             AE PZ          -24405906.61    1350851664
AEDES SPA             AE TQ          -24405906.61    1350851664
AEDES SPA             AE EO          -24405906.61    1350851664
AEDES SPA             AEDI IX        -24405906.61    1350851664
AEDES SPA             AE IM          -24405906.61    1350851664
AEDES SPA RNC         AEDE IM        -24405906.61    1350851664
AEDES SPA-OPA         AEOPA IM       -24405906.61    1350851664
AEDES SPA-OPA         AEDROP IM      -24405906.61    1350851664
AEDES SPA-RTS         AEAA IM        -24405906.61    1350851664
AEDES SPA-RTS         AESA IM        -24405906.61    1350851664
AEDES SPA-SVGS R      AEDRAA IM      -24405906.61    1350851664
BINDA SPA             BND IM         -11146475.29   128859802.9
BINDA SPA             BNDAF US       -11146475.29   128859802.9
BROGGI IZAR FABB      BIF IM         -178432.4639   134255668.5
CART SOTTRI-BIND      DEM IM         -11146475.29   128859802.9
CIRIO FINANZIARI      CRO IM         -422095869.5    1583083044
CIRIO FINANZIARI      FIY GR         -422095869.5    1583083044
COIN SPA              965089Q GR     -154057608.3   800526929.5
COIN SPA              GUCIF US       -154057608.3   800526929.5
COIN SPA              GC IX          -154057608.3   800526929.5
COIN SPA/OLD          GC IM          -154057608.3   800526929.5
COIN SPA-RTS          GCAA IM        -154057608.3   800526929.5
COMPAGNIA ITALIA      CITU IX        -137726596.3   527372691.4
COMPAGNIA ITALIA      ICT IM         -137726596.3   527372691.4
COMPAGNIA ITALIA      CGLUF US       -137726596.3   527372691.4
CORNELL BHN           BY EU          -178432.4639   134255668.5
CORNELL BHN           INO1 IX        -178432.4639   134255668.5
CORNELL BHN           BY EO          -178432.4639   134255668.5
CORNELL BHN           CBX IM         -178432.4639   134255668.5
CORNELL BHN           INN IM         -178432.4639   134255668.5
CREDITO FONDIARI      CRF IM         -200209050.3    4213063202
CREDITO FOND-RTS      CRFSA IM       -200209050.3    4213063202
ELIOS HOLDING         EH IM          -178432.4639   134255668.5
ELIOS HOLDING-NE      EH00 IM        -178432.4639   134255668.5
ELIOS HOLDING-RT      EHAA IM        -178432.4639   134255668.5
ELIOS SPA             EHM IM         -178432.4639   134255668.5
I VIAGGI DEL VEN      VVE IX         -194331003.9     255327730
I VIAGGI DEL VEN      IVGIF US       -194331003.9     255327730
I VIAGGI DEL VEN      VVE IM         -194331003.9     255327730
I VIAGGI DEL VEN      VVE TQ         -194331003.9     255327730
I VIAGGI DEL VEN      VVE EO         -194331003.9     255327730
I VIAGGI DEL VEN      IV7 GR         -194331003.9     255327730
I VIAGGI DEL VEN      VVE PZ         -194331003.9     255327730
I VIAGGI DEL VEN      VVE EU         -194331003.9     255327730
I VIAGGI-RTS          VVEAA IM       -194331003.9     255327730
INNOTECH SPA          ELIOF US       -178432.4639   134255668.5
OLCESE SPA            O IM           -12846689.89   179691572.8
OLCESE SPA-RTS        OAA IM         -12846689.89   179691572.8
OLCESE VENEZIANO      OLVE IM        -12846689.89   179691572.8
OMNIA NETWORK SP      ONT EO          -47468652.4   322390901.7
OMNIA NETWORK SP      ONT IM          -47468652.4   322390901.7
OMNIA NETWORK SP      ONT TQ          -47468652.4   322390901.7
OMNIA NETWORK SP      ONTI IX         -47468652.4   322390901.7
OMNIA NETWORK SP      ONT EU          -47468652.4   322390901.7
OMNIA NETWORK SP      ONT PZ          -47468652.4   322390901.7
PARMALAT FINANZI      PMT LI         -18419390029    4120687886
PARMALAT FINANZI      PAF GR         -18419390029    4120687886
PARMALAT FINANZI      PMLFF US       -18419390029    4120687886
PARMALAT FINANZI      PRFI VX        -18419390029    4120687886
PARMALAT FINANZI      PRF IM         -18419390029    4120687886
PARMALAT FINANZI      FICN AV        -18419390029    4120687886
PARMALAT FINANZI      PARAF US       -18419390029    4120687886
PARMALAT FINA-RT      PRFR AV        -18419390029    4120687886
RISANAMEN-RNC OP      RNROPA IM      -165887753.7    4800733024
RISANAMENTO NAPO      RN5 GR         -165887753.7    4800733024
RISANAMENTO -OPA      RNOPA IM       -165887753.7    4800733024
RISANAMENTO -RNC      RNR IM         -165887753.7    4800733024
RISANAMENTO SPA       RNGBX EO       -165887753.7    4800733024
RISANAMENTO SPA       RN IX          -165887753.7    4800733024
RISANAMENTO SPA       RSMNF US       -165887753.7    4800733024
RISANAMENTO SPA       RNGBP EO       -165887753.7    4800733024
RISANAMENTO SPA       RNGBX EU       -165887753.7    4800733024
RISANAMENTO SPA       RN IM          -165887753.7    4800733024
RISANAMENTO SPA       RN EU          -165887753.7    4800733024
RISANAMENTO SPA       RN TQ          -165887753.7    4800733024
RISANAMENTO SPA       RN EO          -165887753.7    4800733024
RISANAMENTO SPA       RN PZ          -165887753.7    4800733024
RISANAMENTO-RTS       RNAA IM        -165887753.7    4800733024
SNIA BPD              SN GR          -141933883.9   150445252.4
SNIA BPD-ADR          SBPDY US       -141933883.9   150445252.4
SNIA SPA              SBPDF US       -141933883.9   150445252.4
SNIA SPA              SIAI PZ        -141933883.9   150445252.4
SNIA SPA              SN EU          -141933883.9   150445252.4
SNIA SPA              SSMLF US       -141933883.9   150445252.4
SNIA SPA              SNIXF US       -141933883.9   150445252.4
SNIA SPA              SN TQ          -141933883.9   150445252.4
SNIA SPA              SN IM          -141933883.9   150445252.4
SNIA SPA              SNIA GR        -141933883.9   150445252.4
SNIA SPA              SNIB GR        -141933883.9   150445252.4
SNIA SPA              SN EO          -141933883.9   150445252.4
SNIA SPA              SIAI IX        -141933883.9   150445252.4
SNIA SPA - RTS        SNAAW IM       -141933883.9   150445252.4
SNIA SPA- RTS         SNAXW IM       -141933883.9   150445252.4
SNIA SPA-2003 SH      SN03 IM        -141933883.9   150445252.4
SNIA SPA-CONV SA      SPBDF US       -141933883.9   150445252.4
SNIA SPA-DRC          SNR00 IM       -141933883.9   150445252.4
SNIA SPA-NEW          SN00 IM        -141933883.9   150445252.4
SNIA SPA-NON CON      SPBNF US       -141933883.9   150445252.4
SNIA SPA-RCV          SNIVF US       -141933883.9   150445252.4
SNIA SPA-RCV          SNR IM         -141933883.9   150445252.4
SNIA SPA-RIGHTS       SNAW IM        -141933883.9   150445252.4
SNIA SPA-RNC          SNRNC IM       -141933883.9   150445252.4
SNIA SPA-RNC          SNIWF US       -141933883.9   150445252.4
SNIA SPA-RTS          SNAA IM        -141933883.9   150445252.4
SNIA SPA-RTS          SNSO IM        -141933883.9   150445252.4
SOCOTHERM SPA         SCT EU         -161739278.5   398222827.1
SOCOTHERM SPA         SOCEF US       -161739278.5   398222827.1
SOCOTHERM SPA         SCT IM         -161739278.5   398222827.1
SOCOTHERM SPA         SCTM IX        -161739278.5   398222827.1
SOCOTHERM SPA         SCT TQ         -161739278.5   398222827.1
SOCOTHERM SPA         SCT EO         -161739278.5   398222827.1
SOCOTHERM SPA         SCTI PZ        -161739278.5   398222827.1
TAS TECNOLOGIA        TAS IM         -405622.1721   172796509.7
TAS TECNOLOGIA        TAS EO         -405622.1721   172796509.7
TAS TECNOLOGIA        TAS TQ         -405622.1721   172796509.7
TAS TECNOLOGIA        TAQ GR         -405622.1721   172796509.7
TAS TECNOLOGIA        TAS EU         -405622.1721   172796509.7
TAS TECNOLOGIA        TAS PZ         -405622.1721   172796509.7
TAS TECNOLOGIA        TAS NM         -405622.1721   172796509.7
TECNODIFF ITALIA      TDI IM         -89894162.82   152045757.5
TECNODIFF ITALIA      TEF GR         -89894162.82   152045757.5
TECNODIFF ITALIA      TDI NM         -89894162.82   152045757.5
TECNODIFF ITALIA      TDIFF US       -89894162.82   152045757.5
TECNODIFF-RTS         TDIAOW NM      -89894162.82   152045757.5
TECNODIFFUSIONE       TDIAAW IM      -89894162.82   152045757.5
TISCALI - RTS         TISAAW IM      -421259823.5   632152613.6
TISCALI - RTS         TIQA GR        -421259823.5   632152613.6
TISCALI SPA           TIS IM         -421259823.5   632152613.6
TISCALI SPA           TIS PZ         -421259823.5   632152613.6
TISCALI SPA           TIS NR         -421259823.5   632152613.6
TISCALI SPA           TIQ GR         -421259823.5   632152613.6
TISCALI SPA           TIQG IX        -421259823.5   632152613.6
TISCALI SPA           TSCXF US       -421259823.5   632152613.6
TISCALI SPA           TISN IM        -421259823.5   632152613.6
TISCALI SPA           TIS FP         -421259823.5   632152613.6
TISCALI SPA           TIS EB         -421259823.5   632152613.6
TISCALI SPA           TIS VX         -421259823.5   632152613.6
TISCALI SPA           TIS EO         -421259823.5   632152613.6
TISCALI SPA           TISN VX        -421259823.5   632152613.6
TISCALI SPA           TISN NA        -421259823.5   632152613.6
TISCALI SPA           TISN IX        -421259823.5   632152613.6
TISCALI SPA           TIS TQ         -421259823.5   632152613.6
TISCALI SPA           TISGBX EO      -421259823.5   632152613.6
TISCALI SPA           TIS NQ         -421259823.5   632152613.6
TISCALI SPA           TISGBP EO      -421259823.5   632152613.6
TISCALI SPA           TISN FP        -421259823.5   632152613.6
TISCALI SPA           TIQ1 GR        -421259823.5   632152613.6
TISCALI SPA           TISGBX EU      -421259823.5   632152613.6
TISCALI SPA           TIS NA         -421259823.5   632152613.6
TISCALI SPA           TIS EU         -421259823.5   632152613.6
TISCALI SPA           TIS IX         -421259823.5   632152613.6
TISCALI SPA- RTS      3391621Q GR    -421259823.5   632152613.6
TISCALI SPA- RTS      TISAXA IM      -421259823.5   632152613.6
YORKVILLE BHN         BY IM          -178432.4639   134255668.5
YORKVILLE BHN         BY TQ          -178432.4639   134255668.5
YORKVILLE BHN         CBXI PZ        -178432.4639   134255668.5

LUXEMBOURG
----------
CARRIER1 INT-AD+      CONE ES           -94729000     472360992
CARRIER1 INT-ADR      CONEE US          -94729000     472360992
CARRIER1 INT-ADR      CONEQ US          -94729000     472360992
CARRIER1 INT-ADR      CONE US           -94729000     472360992
CARRIER1 INTL         CJNA GR           -94729000     472360992
CARRIER1 INTL         CJN NM            -94729000     472360992
CARRIER1 INTL         CJN GR            -94729000     472360992
CARRIER1 INTL SA      CONEF US          -94729000     472360992
CARRIER1 INTL SA      1253Z SW          -94729000     472360992

NETHERLANDS
-----------
BAAN CO NV-ASSEN      BAANA NA       -7854741.409   609871188.9
BAAN COMPANY NV       BAAN EO        -7854741.409   609871188.9
BAAN COMPANY NV       BAAN GR        -7854741.409   609871188.9
BAAN COMPANY NV       BAAN EU        -7854741.409   609871188.9
BAAN COMPANY NV       BNCG IX        -7854741.409   609871188.9
BAAN COMPANY NV       BAAN NA        -7854741.409   609871188.9
BAAN COMPANY NV       BAAN IX        -7854741.409   609871188.9
BAAN COMPANY NV       BAAN PZ        -7854741.409   609871188.9
BAAN COMPANY NV       BAAVF US       -7854741.409   609871188.9
BAAN COMPANY-NY       BAANF US       -7854741.409   609871188.9
JAMES HARDIE IND      HAH NZ           -131100008    2130899840
JAMES HARDIE IND      726824Z NA       -131100008    2130899840
JAMES HARDIE IND      HAH AU           -131100008    2130899840
JAMES HARDIE IND      600241Q GR       -131100008    2130899840
JAMES HARDIE NV       JHXCC AU         -131100008    2130899840
JAMES HARDIE-ADR      JHINY US         -131100008    2130899840
JAMES HARDIE-ADR      JHX US           -131100008    2130899840
JAMES HARDIE-CDI      JHIUF US         -131100008    2130899840
JAMES HARDIE-CDI      JHA GR           -131100008    2130899840
JAMES HARDIE-CDI      JHX AU           -131100008    2130899840
LIBERTY GL EU-A       UPC NA          -5505478850    5112616630
UNITED PAN -ADR       UPEA GR         -5505478850    5112616630
UNITED PAN-A ADR      UPCOY US        -5505478850    5112616630
UNITED PAN-EUR-A      UPC LI          -5505478850    5112616630
UNITED PAN-EUR-A      UPC LN          -5505478850    5112616630
UNITED PAN-EUROP      UPCOF US        -5505478850    5112616630
UNITED PAN-EUROP      UPC VX          -5505478850    5112616630
UNITED PAN-EUROP      UPCEF US        -5505478850    5112616630
UNITED PAN-EUROP      UPE1 GR         -5505478850    5112616630
UNITED PAN-EUROP      UPE GR          -5505478850    5112616630

NORWAY
------
INTEROIL EXPLORA      IOXUSD EO          -9700000     249326000
INTEROIL EXPLORA      IOX EO             -9700000     249326000
INTEROIL EXPLORA      IOX PZ             -9700000     249326000
INTEROIL EXPLORA      IOX EU             -9700000     249326000
INTEROIL EXPLORA      INOX NO            -9700000     249326000
INTEROIL EXPLORA      IOX NO             -9700000     249326000
INTEROIL EXPLORA      IOXEUR EU          -9700000     249326000
INTEROIL EXPLORA      IOXUSD EU          -9700000     249326000
INTEROIL EXPLORA      IOX IX             -9700000     249326000
INTEROIL EXPLORA      IROIF US           -9700000     249326000
INTEROIL EXPLORA      IOX BY             -9700000     249326000
INTEROIL EXPLORA      IOXEUR EO          -9700000     249326000
PETRO GEO-SERV        PGS GR         -18066142.21   399710323.6
PETRO GEO-SERV        PGS VX         -18066142.21   399710323.6
PETRO GEO-SERV        265143Q NO     -18066142.21   399710323.6
PETRO GEO-SERV-N      PGSN NO        -18066142.21   399710323.6
PETRO GEO-SV-ADR      PGOGY US       -18066142.21   399710323.6
PETRO GEO-SV-ADR      PGSA GR        -18066142.21   399710323.6
PETROJACK AS          JACK PZ           -54932000     191586000
PETROJACK AS          JACK EU           -54932000     191586000
PETROJACK AS          JACKEUR EU        -54932000     191586000
PETROJACK AS          JACK EO           -54932000     191586000
PETROJACK AS          POJKF US          -54932000     191586000
PETROJACK AS          P3J GR            -54932000     191586000
PETROJACK AS          JACK NO           -54932000     191586000
PETROJACK AS          JACO IX           -54932000     191586000
PETROJACK AS          JACK BY           -54932000     191586000
PETROJACK AS          JACKEUR EO        -54932000     191586000

POLAND
------
KROSNO                KRS1EUR EU     -2241614.766   111838141.2
KROSNO                KRS1EUR EO     -2241614.766   111838141.2
KROSNO                KRS LI         -2241614.766   111838141.2
KROSNO                KROS IX        -2241614.766   111838141.2
KROSNO                KRS PW         -2241614.766   111838141.2
KROSNO SA             KRNFF US       -2241614.766   111838141.2
KROSNO SA             KRS1 EU        -2241614.766   111838141.2
KROSNO SA             KRS PZ         -2241614.766   111838141.2
KROSNO SA             KROSNO PW      -2241614.766   111838141.2
KROSNO SA             KRS1 EO        -2241614.766   111838141.2
KROSNO SA-RTS         KRSP PW        -2241614.766   111838141.2
KROSNO-PDA-ALLT       KRSA PW        -2241614.766   111838141.2
TOORA                 TOR PZ         -288818.3897   147004954.2
TOORA                 2916665Q EU    -288818.3897   147004954.2
TOORA                 2916661Q EO    -288818.3897   147004954.2
TOORA                 TOR PW         -288818.3897   147004954.2
TOORA-ALLOT CERT      TORA PW        -288818.3897   147004954.2

PORTUGAL
--------
CP - COMBOIOS DE      1005Z PL        -2809601115    1890209624
LISGRAFICA IMPRE      LIG EO         -11584933.86   107940470.6
LISGRAFICA IMPRE      LIG EU         -11584933.86   107940470.6
LISGRAFICA IMPRE      LIAG EU        -11584933.86   107940470.6
LISGRAFICA IMPRE      LIG PL         -11584933.86   107940470.6
LISGRAFICA IMPRE      LIG PZ         -11584933.86   107940470.6
LISGRAFICA IMPRE      LIAG EO        -11584933.86   107940470.6
LISGRAFICA IMPRE      LIAG PL        -11584933.86   107940470.6
LISGRAFICA-RTS        LIGDS PL       -11584933.86   107940470.6
PORCELANA VISTA       PVAL PL        -75871846.95   148731546.6
REFER-REDE FERRO      1250Z PL        -1611845937    2225160725
SOCIEDADE DE TRA      1253Z PL       -382109074.2   119848180.8
SPORTING-SOC DES      SCDF EU        -22452984.49   177676573.7
SPORTING-SOC DES      SCDF EO        -22452984.49   177676573.7
SPORTING-SOC DES      SCDF PL        -22452984.49   177676573.7
SPORTING-SOC DES      SCPL IX        -22452984.49   177676573.7
SPORTING-SOC DES      SCPX PX        -22452984.49   177676573.7
SPORTING-SOC DES      SCP1 PZ        -22452984.49   177676573.7
SPORTING-SOC DES      SCG GR         -22452984.49   177676573.7
SPORTING-SOC DES      SCP PL         -22452984.49   177676573.7
VAA VISTA ALEGRE      VAF EU         -75871846.95   148731546.6
VAA VISTA ALEGRE      VAF PZ         -75871846.95   148731546.6
VAA VISTA ALEGRE      VAF EO         -75871846.95   148731546.6
VAA VISTA ALEGRE      VAFX PX        -75871846.95   148731546.6
VAA VISTA ALEGRE      VAF PL         -75871846.95   148731546.6
VAA VISTA ALTAN       VAFK EU        -75871846.95   148731546.6
VAA VISTA ALTAN       VAFK PZ        -75871846.95   148731546.6
VAA VISTA ALTAN       VAFKX PX       -75871846.95   148731546.6
VAA VISTA ALTAN       VAFK PL        -75871846.95   148731546.6
VAA VISTA ALTAN       VAFK EO        -75871846.95   148731546.6

ROMANIA
-------
OLTCHIM RM VALCE      OLT RO         -89344235.29   511515508.8
OLTCHIM RM VALCE      OLTEUR EU      -89344235.29   511515508.8
OLTCHIM RM VALCE      OLT PZ         -89344235.29   511515508.8
OLTCHIM RM VALCE      OLTEUR EO      -89344235.29   511515508.8
OLTCHIM RM VALCE      OLT EO         -89344235.29   511515508.8
OLTCHIM RM VALCE      OLTCF US       -89344235.29   511515508.8
OLTCHIM RM VALCE      OLT EU         -89344235.29   511515508.8

RUSSIA
------
AMUR SHIP-BRD         AMZS RU         -99051792.6    1089408985
AMUR SHIP-BRD         AMZS* RU        -99051792.6    1089408985
RBC INFO-ADR          RINFY US       -125838573.3   180731395.2
RBS INFORMATION       RBCI$ RU       -125838573.3   180731395.2
ROSBUSINESSC-CLS      RBCI* RU       -125838573.3   180731395.2
ROSBUSINESSC-CLS      RBCI RU        -125838573.3   180731395.2
ROSBUSINESSCON-3      RBCI3 RM       -125838573.3   180731395.2
ROSBUSINESSCONS       RBCI004D RM    -125838573.3   180731395.2
ROSBUSINESSCONSU      RBCI RM        -125838573.3   180731395.2
ROSBUSINESSC-T+0      RBCIG RU       -125838573.3   180731395.2
TRANSAERO AIRLIN      TRNS* RU       -24618275.96   740576227.5
TRANSAERO AIRLIN      TRNS RU        -24618275.96   740576227.5

SERBIA
------
RAFO SA               RAF RO         -457922636.3   356796459.3
UZINELE SODICE G      UZIM RO        -62313938.86   107275526.8
DUVANSKA              DIVR SG        -7729350.776   109207260.5
IMK 14 OKTOBAR A      IMKO SG        -5175836.416   110102264.2
PINKI AD              PNKI SG        -36537862.34     120707518
ZASTAVA AUTOMOBI      ZAKG SG        -396504649.1   174692011.1

SPAIN
-----
ACTUACIONES ACTI      AGR SM         -231062375.2   529525187.2
AGRUPACIO - RT        AGR/D SM       -231062375.2   529525187.2
AMADEUS IT HOLDI      AMS SM         -397888596.9    7970850431
AMADEUS IT HOLDI      AI3A GR        -397888596.9    7970850431
AMADEUS IT HOLDI      AMS IX         -397888596.9    7970850431
AMADEUS IT HOLDI      AMS3 EO        -397888596.9    7970850431
AMADEUS IT HOLDI      AMS3 EB        -397888596.9    7970850431
AMCI HABITAT SA       AMC1 EU        -24580874.45   194758143.4
AMCI HABITAT SA       AMC3 EO        -24580874.45   194758143.4
AMCI HABITAT SA       AMC SM         -24580874.45   194758143.4
FERGO AISA SA         AISA PZ        -231062375.2   529525187.2
FERGO AISA SA         AISA EO        -231062375.2   529525187.2
FERGO AISA SA         AISA SM        -231062375.2   529525187.2
FERGO AISA SA         AISA EU        -231062375.2   529525187.2
MARTINSA FADESA       MFAD PZ         -2021642096    8362308561
MARTINSA FADESA       MTF1 LI         -2021642096    8362308561
MARTINSA FADESA       MTF EO          -2021642096    8362308561
MARTINSA FADESA       4PU GR          -2021642096    8362308561
MARTINSA FADESA       MTF SM          -2021642096    8362308561
MARTINSA FADESA       MTF EU          -2021642096    8362308561
MARTINSA-FADESA       MTF NR          -2021642096    8362308561
NYESA VALORES CO      NYE SM          -68174952.1   813033334.5
NYESA VALORES CO      NYE EU          -68174952.1   813033334.5
NYESA VALORES CO      BES TQ          -68174952.1   813033334.5
NYESA VALORES CO      BESS PZ         -68174952.1   813033334.5
NYESA VALORES CO      BES SM          -68174952.1   813033334.5
NYESA VALORES CO      BES EO          -68174952.1   813033334.5
NYESA VALORES CO      NYE EO          -68174952.1   813033334.5
NYESA VALORES CO      BES EU          -68174952.1   813033334.5
NYESA VALORES CO      NYE TQ          -68174952.1   813033334.5

SWEDEN
------
ALLOKTON AB           ALOKB SS       -81031119.44   501246031.8

TURKEY
------
BESIKTAS FUTBOL       BJKASY TI      -10396040.97   175760356.3
BESIKTAS FUTBOL       BWX GR         -10396040.97   175760356.3
BESIKTAS FUTBOL       BJKAS TI       -10396040.97   175760356.3
BESIKTAS FUTBOL       BJKASM TI      -10396040.97   175760356.3
BESIKTAS FUTBOL       BKTFF US       -10396040.97   175760356.3
EGS EGE GIYIM VE      EGDIS TI       -7732138.551   147075066.7
EGS EGE GIYIM-RT      EGDISR TI      -7732138.551   147075066.7
IKTISAT FINAN-RT      IKTFNR TI      -46900661.12   108228233.6
IKTISAT FINANSAL      IKTFN TI       -46900661.12   108228233.6
MUDURNU TAVUKC-N      MDRNUN TI      -64930189.62   160408172.1
MUDURNU TAVUKCUL      MDRNU TI       -64930189.62   160408172.1
SIFAS                 SIFAS TI        -15439198.6     130608104
TUTUNBANK             TUT TI          -4024959602    2643810457
YASARBANK             YABNK TI        -4024959602    2643810457

UKRAINE
-------
AZOVZAGALMASH MA      AZGM UZ        -16212049.02   277693905.5
BANK FORUM -GDR       639540Z LX     -5331676.798    2243068982
BANK FORUM -GDR       FRMB038 RU     -5331676.798    2243068982
BANK FORUM -GDR       BFJG IX        -5331676.798    2243068982
BANK FORUM -GDR       B5F GR         -5331676.798    2243068982
BANK FORUM JSC        FORM UZ        -5331676.798    2243068982
DNEPROPETROVSK        DMZP UZ        -15926384.43   424303604.8
DONETSKOBLENERGO      DOON UZ        -212690496.5   382989631.8
LUGANSKGAS            LYGZ UZ        -16910611.07   109918477.6
LUGANSKOBLENERGO      LOEN UZ        -27621096.54   197769532.3
NAFTOKHIMIK PRIC      NAFP UZ        -19746288.63   299014707.5
NAFTOKHIMIK-GDR       N3ZA GR        -19746288.63   299014707.5
ODESSA OIL REFIN      ONPZ UZ        -111365037.3   482408362.5

UNITED KINGDOM
--------------
4LESS GROUP           FLG OF         -3088436.068   106650689.4
4LESS GROUP           BYH PO         -3088436.068   106650689.4
4LESS GROUP           FL/ LN         -3088436.068   106650689.4
4LESS GROUP           FL/ PO         -3088436.068   106650689.4
4LESS GROUP           BHL PO         -3088436.068   106650689.4
4LESS GROUP           LI4 GR         -3088436.068   106650689.4
ADVANCE DISPLAY       ADTP PZ         -3015578835    2590007904
AEA TECHNOLO-FPR      AATF PZ        -215101594.9     121405070
AEA TECHNOLO-FPR      AATF LN        -215101594.9     121405070
AEA TECHNOLOGY        AAT LN         -215101594.9     121405070
AEA TECHNOLOGY        EAETF US       -215101594.9     121405070
AEA TECHNOLOGY        AAT EO         -215101594.9     121405070
AEA TECHNOLOGY        AAT VX         -215101594.9     121405070
AEA TECHNOLOGY        AAT PZ         -215101594.9     121405070
AEA TECHNOLOGY        AAT IX         -215101594.9     121405070
AEA TECHNOLOGY        AEY GR         -215101594.9     121405070
AEA TECHNOLOGY        AAT PO         -215101594.9     121405070
AEA TECHNOLOGY        AATGBP EO      -215101594.9     121405070
AEA TECHNOLOGY        AAT EU         -215101594.9     121405070
AEA TECHNOLO-NPR      AATN PZ        -215101594.9     121405070
AEA TECHNOLO-NPR      AATN LN        -215101594.9     121405070
AIRTOURS PLC          AIR LN         -379721841.6    1817512774
AIRTOURS PLC          ATORF US       -379721841.6    1817512774
AIRTOURS PLC          AIR VX         -379721841.6    1817512774
ALLDAYS PLC           ALDYF US         -120493900   252232072.9
ALLDAYS PLC           317056Q LN       -120493900   252232072.9
AMER BUS SYS          ARB LN           -497127008     121439000
AMEY PLC              AMEYF US       -48862569.33   931527720.5
AMEY PLC              AMY VX         -48862569.33   931527720.5
AMEY PLC              AMY LN         -48862569.33   931527720.5
AMEY PLC-ASSENT       AMYA LN        -48862569.33   931527720.5
AMEY PLC-NEW          AMYN LN        -48862569.33   931527720.5
ANKER PLC             ANK LN         -21861359.81     115463159
ANKER PLC             ANK PO         -21861359.81     115463159
ANKER PLC             DW14 GR        -21861359.81     115463159
ANKER PLC - ASSD      ANKC LN        -21861359.81     115463159
ANKER PLC - ASSD      ANKB LN        -21861359.81     115463159
ANKER PLC-ASSD        ANKA LN        -21861359.81     115463159
ATKINS (WS) PLC       ATK QM           -207093345    1339139513
ATKINS (WS) PLC       ATK EO           -207093345    1339139513
ATKINS (WS) PLC       ATK EU           -207093345    1339139513
ATKINS (WS) PLC       ATK NR           -207093345    1339139513
ATKINS (WS) PLC       ATKGBP EO        -207093345    1339139513
ATKINS (WS) PLC       ATKEUR EU        -207093345    1339139513
ATKINS (WS) PLC       ATK BQ           -207093345    1339139513
ATKINS (WS) PLC       ATK VX           -207093345    1339139513
ATKINS (WS) PLC       ATK TQ           -207093345    1339139513
ATKINS (WS) PLC       6W2 GR           -207093345    1339139513
ATKINS (WS) PLC       WATKF US         -207093345    1339139513
ATKINS (WS) PLC       ATKEUR EO        -207093345    1339139513
ATKINS (WS) PLC       ATK PO           -207093345    1339139513
ATKINS (WS) PLC       ATK LN           -207093345    1339139513
ATKINS (WS) PLC       ATK IX           -207093345    1339139513
ATKINS (WS) PLC       ATK EB           -207093345    1339139513
ATKINS (WS) PLC       ATK NQ           -207093345    1339139513
ATKINS (WS) PLC       ATK PZ           -207093345    1339139513
BAYDONHILL PLC        BHL EO         -3088436.068   106650689.4
BAYDONHILL PLC        BHL PG         -3088436.068   106650689.4
BAYDONHILL PLC        BHL PZ         -3088436.068   106650689.4
BAYDONHILL PLC        BHL IX         -3088436.068   106650689.4
BAYDONHILL PLC        BHL LN         -3088436.068   106650689.4
BAYDONHILL PLC        BHL EU         -3088436.068   106650689.4
BAYDONHILL PLC        BYH LN         -3088436.068   106650689.4
BLACK & EDGINGTO      BLE LN         -128538078.1     135158758
BNB RECRUITMENT       BQX GR         -10242627.53     103637705
BNB RECRUITMENT       BNB IX         -10242627.53     103637705
BNB RECRUITMENT       BNB PO         -10242627.53     103637705
BNB RECRUITMENT       BNB LN         -10242627.53     103637705
BNB RECRUITMENT       BNBRF US       -10242627.53     103637705
BOOKER PLC            1330Q GR        -59832880.4    1298182549
BOOKER PLC            987188Q LN      -59832880.4    1298182549
BOOKER PLC            BKERF US        -59832880.4    1298182549
BOOKER PLC-ADR        BKRUY US        -59832880.4    1298182549
BOOKER PLC-ADR        BOK$ LN         -59832880.4    1298182549
BRADSTOCK GROUP       BDK LN         -1855444.443   268563822.5
BRADSTOCK GROUP       BSKGF US       -1855444.443   268563822.5
BRIT ENERGY LTD       523362Q LN      -5822867501    4921095750
BRIT ENERGY PLC       BEN1 GR         -5822867501    4921095750
BRIT ENERGY PLC       555140Q VX      -5822867501    4921095750
BRIT ENERGY PLC       BGYEF US        -5822867501    4921095750
BRIT ENERGY PLC       BHEGF US        -5822867501    4921095750
BRIT ENERGY-A         BENA GR         -5822867501    4921095750
BRIT ENERGY-ADR       BHEFF US        -5822867501    4921095750
BRIT NUCLEAR          1046Z LN        -4247644150   40325778907
BRIT TELECOM          BTE GR          -5803590908   44998015107
BRIT TELECOM          9484 JP         -5803590908   44998015107
BRIT TELECOM PLC      BTPWF US        -5803590908   44998015107
BRIT TELECOM PLC      BT/A VX         -5803590908   44998015107
BRIT TELECOM PLC      BTPLF US        -5803590908   44998015107
BRIT TELECOM-ADR      BTEA GR         -5803590908   44998015107
BRIT TELECOM-ADR      1481Q CN        -5803590908   44998015107
BRIT TELECOM-RTS      BTY-R US        -5803590908   44998015107
BRITISH ENER-$US      BGYD AR         -5822867501    4921095750
BRITISH ENER-$US      BGYNYD AR       -5822867501    4921095750
BRITISH ENER-ADR      BGYNY US        -5822867501    4921095750
BRITISH ENER-BLK      BGYB AR         -5822867501    4921095750
BRITISH ENER-BLK      BGYNYB AR       -5822867501    4921095750
BRITISH ENER-C/E      BGYC AR         -5822867501    4921095750
BRITISH ENER-C/E      BGYNYC AR       -5822867501    4921095750
BRITISH ENER-CED      BGY AR          -5822867501    4921095750
BRITISH ENER-CED      BGYNY AR        -5822867501    4921095750
BRITISH ENERGY-A      BGYA PO         -5822867501    4921095750
BRITISH ENERGY-A      3012442Q LN     -5822867501    4921095750
BRITISH ENERGY-A      BGYA VX         -5822867501    4921095750
BRITISH ENERGY-A      BGYGF US        -5822867501    4921095750
BRITISH ENERGY-A      BHEAF US        -5822867501    4921095750
BRITISH TELE-FP       BT/F LN         -5803590908   44998015107
BRITISH TELE-NP       BTPXF US        -5803590908   44998015107
BRITISH TELE-NP       BT/N LN         -5803590908   44998015107
BRITVIC               B6S GR         -3988699.913    1361742201
BRITVIC PLC           BVICUSD EO     -3988699.913    1361742201
BRITVIC PLC           BVIC NR        -3988699.913    1361742201
BRITVIC PLC           BTVCF US       -3988699.913    1361742201
BRITVIC PLC           BVIC PZ        -3988699.913    1361742201
BRITVIC PLC           BVIC BQ        -3988699.913    1361742201
BRITVIC PLC           BVICGBP EO     -3988699.913    1361742201
BRITVIC PLC           BVIC LN        -3988699.913    1361742201
BRITVIC PLC           BVIC EB        -3988699.913    1361742201
BRITVIC PLC           BVIC TQ        -3988699.913    1361742201
BRITVIC PLC           BVICEUR EO     -3988699.913    1361742201
BRITVIC PLC           BVIC IX        -3988699.913    1361742201
BRITVIC PLC           BVIC EU        -3988699.913    1361742201
BRITVIC PLC           BVICUSD EU     -3988699.913    1361742201
BRITVIC PLC           BVIC VX        -3988699.913    1361742201
BRITVIC PLC           BVIC EO        -3988699.913    1361742201
BRITVIC PLC           BVIC QM        -3988699.913    1361742201
BRITVIC PLC           BVIC NQ        -3988699.913    1361742201
BRITVIC PLC           BVICEUR EU     -3988699.913    1361742201
BRITVIC PLC-ADR       BTVCY US       -3988699.913    1361742201
BT GROUP PLC          BT/A EB         -5803590908   44998015107
BT GROUP PLC          BT/A QM         -5803590908   44998015107
BT GROUP PLC          BT/AEUR EO      -5803590908   44998015107
BT GROUP PLC          BTEG IX         -5803590908   44998015107
BT GROUP PLC          BT/A NR         -5803590908   44998015107
BT GROUP PLC          BT/A EO         -5803590908   44998015107
BT GROUP PLC          BT/A LN         -5803590908   44998015107
BT GROUP PLC          BTGOF US        -5803590908   44998015107
BT GROUP PLC          BT PZ           -5803590908   44998015107
BT GROUP PLC          BT/A PO         -5803590908   44998015107
BT GROUP PLC          BTQ GR          -5803590908   44998015107
BT GROUP PLC          BT/AEUR EU      -5803590908   44998015107
BT GROUP PLC          BT/A NQ         -5803590908   44998015107
BT GROUP PLC          BT/APEN EO      -5803590908   44998015107
BT GROUP PLC          BT/AUSD EU      -5803590908   44998015107
BT GROUP PLC          BT/APEN EU      -5803590908   44998015107
BT GROUP PLC          BT/A EU         -5803590908   44998015107
BT GROUP PLC          BT/A BQ         -5803590908   44998015107
BT GROUP PLC          BT/ VX          -5803590908   44998015107
BT GROUP PLC          BT/AGBP EO      -5803590908   44998015107
BT GROUP PLC          BT/AUSD EO      -5803590908   44998015107
BT GROUP PLC          BT/A TQ         -5803590908   44998015107
BT GROUP PLC          BT IX           -5803590908   44998015107
BT GROUP PLC-ADR      BT/$ LN         -5803590908   44998015107
BT GROUP PLC-W/I      BTWI LN         -5803590908   44998015107
BT GROUP-ADR          BTQA GR         -5803590908   44998015107
BT GROUP-ADR WI       BTY-W US        -5803590908   44998015107
BT GROUP-CED $US      BTD AR          -5803590908   44998015107
BT GROUP-CED $US      BTYD AR         -5803590908   44998015107
BT GROUP-CED BLK      BTYB AR         -5803590908   44998015107
BT GROUP-CED BLK      BTB AR          -5803590908   44998015107
BT GROUP-CED C/E      BTC AR          -5803590908   44998015107
BT GROUP-CED C/E      BTYC AR         -5803590908   44998015107
BT GROUP-CEDEAR       BTY AR          -5803590908   44998015107
BT GROUP-CEDEAR       BT AR           -5803590908   44998015107
BT GROUP-SPON AD      BTY US          -5803590908   44998015107
BT GROUP-SPON AD      BT MM           -5803590908   44998015107
BT GROUP-SPON AD      BT US           -5803590908   44998015107
BT GROUP-SPON AD      BTYN MM         -5803590908   44998015107
CARLISLE GROUP        506819Q LN     -11904426.45     203548565
CHRYSALIS GROUP       CHSEUR EU      -7422046.098   110320050.3
CHRYSALIS GROUP       CLYSF US       -7422046.098   110320050.3
CHRYSALIS GROUP       CHS IX         -7422046.098   110320050.3
CHRYSALIS GROUP       CHS EU         -7422046.098   110320050.3
CHRYSALIS GROUP       CYGUF US       -7422046.098   110320050.3
CHRYSALIS GROUP       5CY GR         -7422046.098   110320050.3
CHRYSALIS GROUP       CHS LN         -7422046.098   110320050.3
CHRYSALIS GROUP       CHS PZ         -7422046.098   110320050.3
CHRYSALIS GROUP       CHSUSD EO      -7422046.098   110320050.3
CHRYSALIS GROUP       CHSGBP EO      -7422046.098   110320050.3
CHRYSALIS GROUP       CHSUSD EU      -7422046.098   110320050.3
CHRYSALIS GROUP       CHS EO         -7422046.098   110320050.3
CHRYSALIS GROUP       CHS PO         -7422046.098   110320050.3
CHRYSALIS GROUP       CHSEUR EO      -7422046.098   110320050.3
CHRYSALIS GROUP       CHS VX         -7422046.098   110320050.3
CHRYSALIS GROUP       HR4 GR         -7422046.098   110320050.3
CLIPPER WINDPOWE      C2W GR           -337139008     354437024
CLIPPER WINDPOWE      CWPA LN          -337139008     354437024
CLIPPER WINDPOWE      CWP EU           -337139008     354437024
CLIPPER WINDPOWE      CWP PZ           -337139008     354437024
CLIPPER WINDPOWE      CWP LN           -337139008     354437024
CLIPPER WINDPOWE      CWP PG           -337139008     354437024
CLIPPER WINDPOWE      CWP IX           -337139008     354437024
CLIPPER WINDPOWE      CWP EO           -337139008     354437024
CLIPPER WINDPOWE      CRPWF US         -337139008     354437024
CLIPPER WINDPOWE      3470635Q LN      -337139008     354437024
COMPASS GROU-OLD      1259Q LN       -668101173.9    2972459078
COMPASS GROUP         QOP GR         -668101173.9    2972459078
COMPASS GRP-ADR       CMSJY US       -668101173.9    2972459078
COMPASS GRP-ADR       CMSGY US       -668101173.9    2972459078
COSTAIN GROUP         CSGFF US        -6136239.91   692749189.9
COSTAIN GROUP         COST VX         -6136239.91   692749189.9
COSTAIN GROUP         COSTUSD EO      -6136239.91   692749189.9
COSTAIN GROUP         COSTUSD EU      -6136239.91   692749189.9
COSTAIN GROUP         COST EO         -6136239.91   692749189.9
COSTAIN GROUP         COST EU         -6136239.91   692749189.9
COSTAIN GROUP         COSTGBP EO      -6136239.91   692749189.9
COSTAIN GROUP         COSTEUR EO      -6136239.91   692749189.9
COSTAIN GROUP         COST PZ         -6136239.91   692749189.9
COSTAIN GROUP         COST IX         -6136239.91   692749189.9
COSTAIN GROUP         COST PO         -6136239.91   692749189.9
COSTAIN GROUP         COSTEUR EU      -6136239.91   692749189.9
COSTAIN GROUP         COST LN         -6136239.91   692749189.9
COSTAIN GROU-RTS      COSF LN         -6136239.91   692749189.9
COSTAIN GROU-RTS      COSN LN         -6136239.91   692749189.9
CPP GROUP PLC         CPP PZ         -69442858.18   225437367.4
CPP GROUP PLC         CPP LN         -69442858.18   225437367.4
CPP GROUP PLC         4CV GR         -69442858.18   225437367.4
DAILY MAIL TST        DMGO VX        -139060248.4    3723159411
DAILY MAIL TST        DMGOGBP EO     -139060248.4    3723159411
DAILY MAIL TST        DMTOF US       -139060248.4    3723159411
DAILY MAIL TST        DMGO EO        -139060248.4    3723159411
DAILY MAIL TST        DMGO EU        -139060248.4    3723159411
DAILY MAIL TST        DMGO PZ        -139060248.4    3723159411
DAILY MAIL TST        DMGO PO        -139060248.4    3723159411
DAILY MAIL TST        DGW GR         -139060248.4    3723159411
DAILY MAIL TST        DMGO IX        -139060248.4    3723159411
DAILY MAIL TST        DMGO LN        -139060248.4    3723159411
DAILY MAIL TST A      DMGT EO        -139060248.4    3723159411
DAILY MAIL TST A      DMGT PO        -139060248.4    3723159411
DAILY MAIL TST A      DMGTUSD EU     -139060248.4    3723159411
DAILY MAIL TST A      DMGT NQ        -139060248.4    3723159411
DAILY MAIL TST A      DMGTUSD EO     -139060248.4    3723159411
DAILY MAIL TST A      DMGTEUR EU     -139060248.4    3723159411
DAILY MAIL TST A      DMGT EU        -139060248.4    3723159411
DAILY MAIL TST A      DMGT PZ        -139060248.4    3723159411
DAILY MAIL TST A      DMGT LN        -139060248.4    3723159411
DAILY MAIL TST A      DMGT IX        -139060248.4    3723159411
DAILY MAIL TST A      DMGT EB        -139060248.4    3723159411
DAILY MAIL TST A      DMGT NR        -139060248.4    3723159411
DAILY MAIL TST A      DMGT TQ        -139060248.4    3723159411
DAILY MAIL TST A      DMGT QM        -139060248.4    3723159411
DAILY MAIL TST A      DMGT VX        -139060248.4    3723159411
DAILY MAIL TST A      DMGTGBP EO     -139060248.4    3723159411
DAILY MAIL TST A      DMGTEUR EO     -139060248.4    3723159411
DAILY MAIL TST A      DMTGF US       -139060248.4    3723159411
DAILY MAIL TST A      DMGT BQ        -139060248.4    3723159411
DAILY MAIL TST A      DGW1 GR        -139060248.4    3723159411
DANKA BUS SYSTEM      DNK IX           -497127008     121439000
DANKA BUS SYSTEM      3205291Q EO      -497127008     121439000
DANKA BUS SYSTEM      DNK VX           -497127008     121439000
DANKA BUS SYSTEM      DNK PO           -497127008     121439000
DANKA BUS SYSTEM      DNK LN           -497127008     121439000
DANKA BUS SYSTEM      3205287Q EU      -497127008     121439000
DANKA BUS SYSTEM      DANKF US         -497127008     121439000
DANKA BUS SYSTEM      DNK PZ           -497127008     121439000
DANKA BUS SYSTEM      3205283Q EO      -497127008     121439000
DANKA BUS-$US CE      DANKD AR         -497127008     121439000
DANKA BUS-ADR         AP39 LI          -497127008     121439000
DANKA BUS-ADR         DANKE US         -497127008     121439000
DANKA BUS-ADR         DB6 GR           -497127008     121439000
DANKA BUS-ADR         DANKY US         -497127008     121439000
DANKA BUS-BLK CE      DANKB AR         -497127008     121439000
DANKA BUS-C/E CE      DANKC AR         -497127008     121439000
DANKA BUS-CEDEAR      DANK AR          -497127008     121439000
DE LA RUE PLC         DELRF US       -49140782.93   785933430.9
DE LA RUE PLC         DLARCHF EO     -49140782.93   785933430.9
DE LA RUE PLC         DLAR NQ        -49140782.93   785933430.9
DE LA RUE PLC         DLAR QM        -49140782.93   785933430.9
DE LA RUE PLC         DLAR LN        -49140782.93   785933430.9
DE LA RUE PLC         DLAR EO        -49140782.93   785933430.9
DE LA RUE PLC         DL1C GR        -49140782.93   785933430.9
DE LA RUE PLC         DL1A GR        -49140782.93   785933430.9
DE LA RUE PLC         DLAR BQ        -49140782.93   785933430.9
DE LA RUE PLC         DL1B GR        -49140782.93   785933430.9
DE LA RUE PLC         DLRUF US       -49140782.93   785933430.9
DE LA RUE PLC         DLAR PZ        -49140782.93   785933430.9
DE LA RUE PLC         DLAR VX        -49140782.93   785933430.9
DE LA RUE PLC         DLAR IX        -49140782.93   785933430.9
DE LA RUE PLC         DLARUSD EU     -49140782.93   785933430.9
DE LA RUE PLC         DL1 GR         -49140782.93   785933430.9
DE LA RUE PLC         DLAR NR        -49140782.93   785933430.9
DE LA RUE PLC         DLAR EB        -49140782.93   785933430.9
DE LA RUE PLC         DLARF US       -49140782.93   785933430.9
DE LA RUE PLC         DLAREUR EU     -49140782.93   785933430.9
DE LA RUE PLC         DLAR PO        -49140782.93   785933430.9
DE LA RUE PLC         DLARCHF EU     -49140782.93   785933430.9
DE LA RUE PLC         DLAR EU        -49140782.93   785933430.9
DE LA RUE PLC         DLARGBP EO     -49140782.93   785933430.9
DE LA RUE PLC         DLARUSD EO     -49140782.93   785933430.9
DE LA RUE PLC         DLAREUR EO     -49140782.93   785933430.9
DE LA RUE PLC         DLAR TQ        -49140782.93   785933430.9
DE LA RUE-ADR         DERUY US       -49140782.93   785933430.9
DE LA RUE-ADR         DLUEY US       -49140782.93   785933430.9
DE LA RUE-PREF        DLAP PZ        -49140782.93   785933430.9
DE LA RUE-PREF        DLAP LN        -49140782.93   785933430.9
DE LA RUE-PREF        3115438Q EU    -49140782.93   785933430.9
EASYNET GROUP         EAY GR         -60380609.34   334049332.2
EASYNET GROUP         ESY VX         -60380609.34   334049332.2
EASYNET GROUP         ESY LN         -60380609.34   334049332.2
EASYNET GROUP         ESY PO         -60380609.34   334049332.2
EASYNET GROUP         EZNGF US       -60380609.34   334049332.2
EASYNET GROUP-CV      91009Z LN      -60380609.34   334049332.2
EMI GROUP -ASSD       EMIA LN         -2265916257    2950021937
EMI GROUP LTD         EMI LN          -2265916257    2950021937
EMI GROUP PLC         EMIPF US        -2265916257    2950021937
EMI GROUP PLC         EMI PO          -2265916257    2950021937
EMI GROUP PLC         EMI IX          -2265916257    2950021937
EMI GROUP PLC         EMI VX          -2265916257    2950021937
EMI GROUP PLC         3020138Q GR     -2265916257    2950021937
EMI GROUP PLC-B       1019425Q LN     -2265916257    2950021937
EMI GROUP-ADR         EMI$ LN         -2265916257    2950021937
EMI GROUP-ADR         38IS LN         -2265916257    2950021937
EMI GROUP-ADR         EMIPY US        -2265916257    2950021937
EUROPEAN HOME         EHR EO         -14328735.16   110864081.4
EUROPEAN HOME         KLZ PO         -14328735.16   110864081.4
EUROPEAN HOME         EHRGBP EO      -14328735.16   110864081.4
EUROPEAN HOME         EHR PZ         -14328735.16   110864081.4
EUROPEAN HOME         KLZ VX         -14328735.16   110864081.4
EUROPEAN HOME         EHREUR EU      -14328735.16   110864081.4
EUROPEAN HOME         FPAKF US       -14328735.16   110864081.4
EUROPEAN HOME         EHR PO         -14328735.16   110864081.4
EUROPEAN HOME         EHR EU         -14328735.16   110864081.4
EUROPEAN HOME         EHR LN         -14328735.16   110864081.4
EUROPEAN HOME         EHR VX         -14328735.16   110864081.4
EUROPEAN HOME         EHREUR EO      -14328735.16   110864081.4
EUROPEAN MINERAL      EUM PO           -123563000     104843000
EUROPEAN MINERAL      EPM CN           -123563000     104843000
EUROPEAN MINERAL      EPMLF US         -123563000     104843000
EUROPEAN MINERAL      EUM LN           -123563000     104843000
EUROPEAN MINERAL      EPM/U CN         -123563000     104843000
FAREPAK PLC           FPK LN         -14328735.16   110864081.4
FARNELL ELEC-ADR      FRN$ LN        -13610199.87     727265033
FARNELL ELEC-ADR      FRNZ LN        -13610199.87     727265033
FARNELL ELEC-RFD      FRNR LN        -13610199.87     727265033
FARNELL ELECTRON      FRNL LN        -13610199.87     727265033
GALIFORM PLC          MFI PO         -117673114.1   573836054.4
GALIFORM PLC          GFRMNOK EO     -117673114.1   573836054.4
GALIFORM PLC          GFRMEUR EU     -117673114.1   573836054.4
GALIFORM PLC          MFIFF US       -117673114.1   573836054.4
GALIFORM PLC          GFRM QM        -117673114.1   573836054.4
GALIFORM PLC          GFRM TQ        -117673114.1   573836054.4
GALIFORM PLC          GFRMNOK EU     -117673114.1   573836054.4
GALIFORM PLC          GFRM IX        -117673114.1   573836054.4
GALIFORM PLC          GFRMEUR EO     -117673114.1   573836054.4
GALIFORM PLC          GFRM EO        -117673114.1   573836054.4
GALIFORM PLC          MFI VX         -117673114.1   573836054.4
GALIFORM PLC          GFRM LN        -117673114.1   573836054.4
GALIFORM PLC          GFRM EU        -117673114.1   573836054.4
GALIFORM PLC          GFRMGBP EO     -117673114.1   573836054.4
GALIFORM PLC          GFRM EB        -117673114.1   573836054.4
GALIFORM PLC          GFRM PO        -117673114.1   573836054.4
GALIFORM PLC          GFRM NQ        -117673114.1   573836054.4
GALIFORM PLC          GFRM BQ        -117673114.1   573836054.4
GALIFORM PLC          GFRM VX        -117673114.1   573836054.4
GALIFORM PLC          GFRM PZ        -117673114.1   573836054.4
GALIFORM PLC          GFRM NR        -117673114.1   573836054.4
GALIFORM PLC          GLFMF US       -117673114.1   573836054.4
GALIFORM PLC          MFI IX         -117673114.1   573836054.4
GARTLAND WHALLEY      GWB LN         -10986769.42   145352034.5
GO-AHEAD GRO-ADR      GHGUY US       -44415250.72    1780324810
GO-AHEAD GROUP        GHGUF US       -44415250.72    1780324810
GO-AHEAD GROUP        GOG NR         -44415250.72    1780324810
GO-AHEAD GROUP        GOG BQ         -44415250.72    1780324810
GO-AHEAD GROUP        GOG QM         -44415250.72    1780324810
GO-AHEAD GROUP        GOG TQ         -44415250.72    1780324810
GO-AHEAD GROUP        GOG LN         -44415250.72    1780324810
GO-AHEAD GROUP        GOG PO         -44415250.72    1780324810
GO-AHEAD GROUP        GOG IX         -44415250.72    1780324810
GO-AHEAD GROUP        GOG PZ         -44415250.72    1780324810
GO-AHEAD GROUP        G9X GR         -44415250.72    1780324810
GO-AHEAD GROUP        GOG EO         -44415250.72    1780324810
GO-AHEAD GROUP        GOG NQ         -44415250.72    1780324810
GO-AHEAD GROUP        GOG EU         -44415250.72    1780324810
GO-AHEAD GROUP        GOGEUR EO      -44415250.72    1780324810
GO-AHEAD GROUP        GOG VX         -44415250.72    1780324810
GO-AHEAD GROUP        GOGGBP EO      -44415250.72    1780324810
GO-AHEAD GROUP        GOG EB         -44415250.72    1780324810
GO-AHEAD GROUP        GOGEUR EU      -44415250.72    1780324810
GREEN (E) & PART      GEP LN         -35008863.49   305242409.9
HAWTIN PLC            HWN GR         -3873861.331   110875080.8
HAWTIN PLC            HTI VX         -3873861.331   110875080.8
HAWTIN PLC            HTI PO         -3873861.331   110875080.8
HAWTIN PLC            HTI EU         -3873861.331   110875080.8
HAWTIN PLC            HTI IX         -3873861.331   110875080.8
HAWTIN PLC            HTI PZ         -3873861.331   110875080.8
HAWTIN PLC            HTI PG         -3873861.331   110875080.8
HAWTIN PLC            HTI EO         -3873861.331   110875080.8
HAWTIN PLC            HTI LN         -3873861.331   110875080.8
HILTON G-CRT OLD      HIGT BB        -97533918.57    1748505414
HILTON GROUP PLC      HG/ LN         -97533918.57    1748505414
HILTON GROUP PLC      HG PO          -97533918.57    1748505414
HILTON GROUP PLC      HLTGF US       -97533918.57    1748505414
HILTON GROUP-ADR      HLTGY US       -97533918.57    1748505414
HILTON GROUP-CER      HG BB          -97533918.57    1748505414
HILTON GROUP-CRT      HIG BB         -97533918.57    1748505414
HOGG ROBINSON GR      HRG PZ            -11371715   739481804.8
HOGG ROBINSON GR      HRG LN            -11371715   739481804.8
HOGG ROBINSON GR      HOGGF US          -11371715   739481804.8
HOGG ROBINSON GR      HRG EU            -11371715   739481804.8
HOGG ROBINSON GR      HRGEUR EO         -11371715   739481804.8
HOGG ROBINSON GR      HRG IX            -11371715   739481804.8
HOGG ROBINSON GR      HRGEUR EU         -11371715   739481804.8
HOGG ROBINSON GR      DQX GR            -11371715   739481804.8
HOGG ROBINSON GR      HRGGBP EO         -11371715   739481804.8
HOGG ROBINSON GR      HRG EO            -11371715   739481804.8
HOGG ROBINSON GR      HRG VX            -11371715   739481804.8
JARVIS PLC            JRVSGBP EO     -64739862.73     130951086
JARVIS PLC            JRVS IX        -64739862.73     130951086
JARVIS PLC            JVR GR         -64739862.73     130951086
JARVIS PLC            JRVS PO        -64739862.73     130951086
JARVIS PLC            JRVS VX        -64739862.73     130951086
JARVIS PLC            JRVS PZ        -64739862.73     130951086
JARVIS PLC            JRVS LN        -64739862.73     130951086
JARVIS PLC            JRVS EO        -64739862.73     130951086
JARVIS PLC            JRVSEUR EU     -64739862.73     130951086
JARVIS PLC            JRVSEUR EO     -64739862.73     130951086
JARVIS PLC            JVSPF US       -64739862.73     130951086
JARVIS PLC            JRVS EU        -64739862.73     130951086
JESSOPS PLC           JSP VX          -42702021.2   112964060.4
JESSOPS PLC           JSPEUR EU       -42702021.2   112964060.4
JESSOPS PLC           JSP PO          -42702021.2   112964060.4
JESSOPS PLC           JSP PZ          -42702021.2   112964060.4
JESSOPS PLC           JSPGBP EO       -42702021.2   112964060.4
JESSOPS PLC           JSP LN          -42702021.2   112964060.4
JESSOPS PLC           JSP IX          -42702021.2   112964060.4
JESSOPS PLC           JSP EO          -42702021.2   112964060.4
JESSOPS PLC           JSPEUR EO       -42702021.2   112964060.4
JESSOPS PLC           JS4 GR          -42702021.2   112964060.4
JESSOPS PLC           JSP EU          -42702021.2   112964060.4
KAZAKHSTAN MNRLS      KMC/U CN         -123563000     104843000
KAZAKHSTAN MNRLS      KMCO CN          -123563000     104843000
KAZAKHSTAN MNRLS      KMCO/U CN        -123563000     104843000
KAZAKHSTAN MNRLS      KMCOF US         -123563000     104843000
KLEENEZE PLC          KLZ LN         -14328735.16   110864081.4
LADBROKE GROUP        LADB LN        -97533918.57    1748505414
LADBROKE GRP-IDR      695767Q BB     -97533918.57    1748505414
LADBROKE GRP-OLD      LADB BB        -97533918.57    1748505414
LADBROKES - FPR       LADF LN        -97533918.57    1748505414
LADBROKES - FPR       LADF PZ        -97533918.57    1748505414
LADBROKES PLC         LADGBP EO      -97533918.57    1748505414
LADBROKES PLC         LDBKF US       -97533918.57    1748505414
LADBROKES PLC         LAD IX         -97533918.57    1748505414
LADBROKES PLC         LAD PZ         -97533918.57    1748505414
LADBROKES PLC         LADUSD EO      -97533918.57    1748505414
LADBROKES PLC         LAD BQ         -97533918.57    1748505414
LADBROKES PLC         LAD LN         -97533918.57    1748505414
LADBROKES PLC         LAD EU         -97533918.57    1748505414
LADBROKES PLC         LADNZD EO      -97533918.57    1748505414
LADBROKES PLC         LAD QM         -97533918.57    1748505414
LADBROKES PLC         LAD EB         -97533918.57    1748505414
LADBROKES PLC         LAD NR         -97533918.57    1748505414
LADBROKES PLC         HG/ VX         -97533918.57    1748505414
LADBROKES PLC         LAD TQ         -97533918.57    1748505414
LADBROKES PLC         LAD VX         -97533918.57    1748505414
LADBROKES PLC         LADEUR EU      -97533918.57    1748505414
LADBROKES PLC         LAD NQ         -97533918.57    1748505414
LADBROKES PLC         LAD GR         -97533918.57    1748505414
LADBROKES PLC         LADEUR EO      -97533918.57    1748505414
LADBROKES PLC         LAD EO         -97533918.57    1748505414
LADBROKES PLC         LAD PO         -97533918.57    1748505414
LADBROKES PLC         LADNZD EU      -97533918.57    1748505414
LADBROKES PLC-AD      LDBKY US       -97533918.57    1748505414
LADBROKES PLC-AD      LDBKY LN       -97533918.57    1748505414
LADBROKES PLC-CE      LAD BB         -97533918.57    1748505414
LADBROKES PLC-NP      LADN PZ        -97533918.57    1748505414
LADBROKES PLC-NP      LADN LN        -97533918.57    1748505414
LAMBERT FENCHURC      LMF LN         -1453050.041    1826806853
LEEDS SPORTING        LEDPF US        -73166148.8   143762193.7
LEEDS SPORTING        LES LN          -73166148.8   143762193.7
LEEDS UNITED PLC      LUFC LN         -73166148.8   143762193.7
LEEDS UNITED PLC      LDSUF US        -73166148.8   143762193.7
LEEDS UNITED PLC      889687Q GR      -73166148.8   143762193.7
LONDON TOWN PLC       LTW PO         -21897636.36   175672299.2
LONDON TOWN PLC       LTW LN         -21897636.36   175672299.2
LONDON TOWN PLC       LTW PG         -21897636.36   175672299.2
LONDON TOWN PLC       LTW IX         -21897636.36   175672299.2
LONDON TOWN PLC       LOU GR         -21897636.36   175672299.2
LONDON TOWN PLC       LTWR LN        -21897636.36   175672299.2
LONDON TOWN PLC       LTW EU         -21897636.36   175672299.2
LONDON TOWN PLC       LTW EO         -21897636.36   175672299.2
LONDON TOWN PLC       LTWX LN        -21897636.36   175672299.2
LONDON TOWN PLC       LTW PZ         -21897636.36   175672299.2
M 2003 PLC            MTWOF US        -2203513803    7204891602
M 2003 PLC            203055Q LN      -2203513803    7204891602
M 2003 PLC-ADR        MTWOY US        -2203513803    7204891602
M 2003 PLC-ADR        MTWOE US        -2203513803    7204891602
MARCONI PLC           MNI LN          -2203513803    7204891602
MARCONI PLC           MRCQF US        -2203513803    7204891602
MARCONI PLC           203083Q VX      -2203513803    7204891602
MARCONI PLC           MNI BB          -2203513803    7204891602
MARCONI PLC           MY2 GR          -2203513803    7204891602
MARCONI PLC           MONI BB         -2203513803    7204891602
MARCONI PLC-ADR       MRCQY US        -2203513803    7204891602
MARCONI PLC-ADR       MONIY US        -2203513803    7204891602
MARCONI PLC-ADR       MCBA GR         -2203513803    7204891602
MARCONI PLC-ADR       MONI US         -2203513803    7204891602
MARCONI PLC-ADR       MCONY US        -2203513803    7204891602
MARCONI PLC-ADR       MY2A GR         -2203513803    7204891602
MARCONI PLC-ADR       MONIE US        -2203513803    7204891602
MARCONI PLC-ADR       QUQMON AU       -2203513803    7204891602
MFI FURNITURE GR      MFI LN         -117673114.1   573836054.4
MYTRAVEL GROUP        MT/S VX        -379721841.6    1817512774
MYTRAVEL GROUP        MT/S LN        -379721841.6    1817512774
MYTRAVEL GROUP        3544280Q IX    -379721841.6    1817512774
MYTRAVEL GROUP        MT/S PO        -379721841.6    1817512774
MYTRAVEL GROUP        ARO2 GR        -379721841.6    1817512774
MYTRAVEL GROUP        MYTPF US       -379721841.6    1817512774
MYTRAVEL GROUP P      1018144Q GR    -379721841.6    1817512774
MYTRAVEL GROUP P      MT/ VX         -379721841.6    1817512774
MYTRAVEL GROUP P      MYTGF US       -379721841.6    1817512774
MYTRAVEL GROUP-A      2281919Q GR    -379721841.6    1817512774
MYTRAVEL GROUP-A      MYTVF US       -379721841.6    1817512774
NEW STAR ASSET        NSAM TQ          -397718038   292972732.1
NEW STAR ASSET        NSAM LN          -397718038   292972732.1
NEW STAR ASSET        3226435Q EO      -397718038   292972732.1
NEW STAR ASSET        3226431Q EU      -397718038   292972732.1
NEW STAR ASSET        NSAM IX          -397718038   292972732.1
NEW STAR ASSET        3226447Q EO      -397718038   292972732.1
NEW STAR ASSET        NSAM PZ          -397718038   292972732.1
NEW STAR ASSET        N6S GR           -397718038   292972732.1
NEW STAR ASSET        NSAA LN          -397718038   292972732.1
NEW STAR ASSET        3226443Q EO      -397718038   292972732.1
NEW STAR ASSET        3226439Q EU      -397718038   292972732.1
NEW STAR ASSET        NSAM PO          -397718038   292972732.1
NEW STAR ASSET        NWSAF US         -397718038   292972732.1
ORANGE PLC            951641Q LN       -593935051    2902299502
ORANGE PLC            1460Q GR         -593935051    2902299502
ORANGE PLC            ORNGF US         -593935051    2902299502
ORANGE PLC-ADR        ORA$ LN          -593935051    2902299502
ORANGE PLC-ADR        ORNGY US         -593935051    2902299502
ORANGE PLC-ADR        ONG GR           -593935051    2902299502
ORBIS PLC             RLP GR         -4168498.479   127701679.5
ORBIS PLC             OBS LN         -4168498.479   127701679.5
ORBIS PLC             OBS PO         -4168498.479   127701679.5
ORBIS PLC             ORBSF US       -4168498.479   127701679.5
ORBIS PLC             OBS PZ         -4168498.479   127701679.5
ORBIS PLC             OBG PO         -4168498.479   127701679.5
ORBIS PLC             OBS IX         -4168498.479   127701679.5
ORSU METALS CORP      OSU PZ           -123563000     104843000
ORSU METALS CORP      OSUMF US         -123563000     104843000
ORSU METALS CORP      OSUGBX EO        -123563000     104843000
ORSU METALS CORP      E4M GR           -123563000     104843000
ORSU METALS CORP      OSU LN           -123563000     104843000
ORSU METALS CORP      ORSM007 RU       -123563000     104843000
ORSU METALS CORP      OSU CN           -123563000     104843000
ORSU METALS CORP      ORSUF US         -123563000     104843000
ORSU METALS CORP      E4M1 GR          -123563000     104843000
ORSU METALS CORP      EUM IX           -123563000     104843000
ORSU METALS CORP      EPMCF US         -123563000     104843000
ORSU METALS CORP      ORSM007* RU      -123563000     104843000
ORSU METALS CORP      OSU PG           -123563000     104843000
PARK FOOD GROUP       PKFD LN        -52867263.19   185089877.3
PARK GROUP PLC        PRKGF US       -52867263.19   185089877.3
PARK GROUP PLC        PKG VX         -52867263.19   185089877.3
PARK GROUP PLC        PKG LN         -52867263.19   185089877.3
PARK GROUP PLC        PKGGBP EO      -52867263.19   185089877.3
PARK GROUP PLC        PKG EU         -52867263.19   185089877.3
PARK GROUP PLC        PKG PZ         -52867263.19   185089877.3
PARK GROUP PLC        PKG EO         -52867263.19   185089877.3
PARK GROUP PLC        PKG PO         -52867263.19   185089877.3
PARK GROUP PLC        PRKG IX        -52867263.19   185089877.3
PATIENTLINE PLC       PTL LN         -54677284.64   124948245.8
PATIENTLINE PLC       PTL PO         -54677284.64   124948245.8
PATIENTLINE PLC       2928907Q EO    -54677284.64   124948245.8
PATIENTLINE PLC       2928903Q EU    -54677284.64   124948245.8
PATIENTLINE PLC       PTL VX         -54677284.64   124948245.8
PATIENTLINE PLC       PTL IX         -54677284.64   124948245.8
PATIENTLINE PLC       PTL PZ         -54677284.64   124948245.8
PATIENTLINE PLC       2928899Q EO    -54677284.64   124948245.8
PREMIER FARN-ADR      PIFLY US       -13610199.87     727265033
PREMIER FARN-ADR      2246804Q US    -13610199.87     727265033
PREMIER FARN-ADR      PFLZ LN        -13610199.87     727265033
PREMIER FARNELL       PFLGBP EO      -13610199.87     727265033
PREMIER FARNELL       PFLEUR EU      -13610199.87     727265033
PREMIER FARNELL       PFL NQ         -13610199.87     727265033
PREMIER FARNELL       PFL EU         -13610199.87     727265033
PREMIER FARNELL       PFL PZ         -13610199.87     727265033
PREMIER FARNELL       PFL EO         -13610199.87     727265033
PREMIER FARNELL       PIFLF US       -13610199.87     727265033
PREMIER FARNELL       PFL PO         -13610199.87     727265033
PREMIER FARNELL       PFL LN         -13610199.87     727265033
PREMIER FARNELL       PFL IX         -13610199.87     727265033
PREMIER FARNELL       PFL VX         -13610199.87     727265033
PREMIER FARNELL       PFL QM         -13610199.87     727265033
PREMIER FARNELL       PFL EB         -13610199.87     727265033
PREMIER FARNELL       PFLUSD EO      -13610199.87     727265033
PREMIER FARNELL       PFLSEK EO      -13610199.87     727265033
PREMIER FARNELL       PFLSEK EU      -13610199.87     727265033
PREMIER FARNELL       PML GR         -13610199.87     727265033
PREMIER FARNELL       PFL TQ         -13610199.87     727265033
PREMIER FARNELL       PFLUSD EU      -13610199.87     727265033
PREMIER FARNELL       PFL NR         -13610199.87     727265033
PREMIER FARNELL       PFL BQ         -13610199.87     727265033
PREMIER FARNELL       PFLEUR EO      -13610199.87     727265033
PROSTRAKAN GROUP      PSKEUR EU       -8881399.87   126115878.2
PROSTRAKAN GROUP      PSK EO          -8881399.87   126115878.2
PROSTRAKAN GROUP      PSK VX          -8881399.87   126115878.2
PROSTRAKAN GROUP      PSK EU          -8881399.87   126115878.2
PROSTRAKAN GROUP      PSK IX          -8881399.87   126115878.2
PROSTRAKAN GROUP      PSKGBP EO       -8881399.87   126115878.2
PROSTRAKAN GROUP      PSK PZ          -8881399.87   126115878.2
PROSTRAKAN GROUP      PKNGF US        -8881399.87   126115878.2
PROSTRAKAN GROUP      PSK LN          -8881399.87   126115878.2
PROSTRAKAN GROUP      PSK PO          -8881399.87   126115878.2
PROSTRAKAN GROUP      PSKEUR EO       -8881399.87   126115878.2
REAL ESTATE OP-O      REO EO         -145048365.8    2933767507
REAL ESTATE OP-O      REO VX         -145048365.8    2933767507
REAL ESTATE OP-O      REA GR         -145048365.8    2933767507
REAL ESTATE OP-O      REO EU         -145048365.8    2933767507
REAL ESTATE OP-O      REO ID         -145048365.8    2933767507
REAL ESTATE OP-O      REO IX         -145048365.8    2933767507
REAL ESTATE OP-O      REOGBP EO      -145048365.8    2933767507
REAL ESTATE OP-O      REO PZ         -145048365.8    2933767507
REAL ESTATE OP-O      REO LN         -145048365.8    2933767507
REGUS LTD             273187Q LN     -46111835.37     367181111
REGUS PLC             2296Z LN       -46111835.37     367181111
REGUS PLC             273195Q VX     -46111835.37     367181111
REGUS PLC             RGU GR         -46111835.37     367181111
REGUS PLC             REGSF US       -46111835.37     367181111
REGUS PLC-ADS         REGS US        -46111835.37     367181111
REGUS PLC-ADS         REGSY US       -46111835.37     367181111
REGUS PLC-ADS         RGUA GR        -46111835.37     367181111
REGUS PLC-ADS         REGSV US       -46111835.37     367181111
RENTOKIL INITIAL      RTO1 GR        -242381476.4    3231214649
RENTOKIL INITIAL      RKLIF US       -242381476.4    3231214649
RENTOKIL INITIAL      RTOGBP EO      -242381476.4    3231214649
RENTOKIL INITIAL      RTO EO         -242381476.4    3231214649
RENTOKIL INITIAL      RTO PZ         -242381476.4    3231214649
RENTOKIL INITIAL      RTOUSD EU      -242381476.4    3231214649
RENTOKIL INITIAL      RTOUSD EO      -242381476.4    3231214649
RENTOKIL INITIAL      RTOKF US       -242381476.4    3231214649
RENTOKIL INITIAL      RTO TQ         -242381476.4    3231214649
RENTOKIL INITIAL      RTO PO         -242381476.4    3231214649
RENTOKIL INITIAL      RTO IX         -242381476.4    3231214649
RENTOKIL INITIAL      RTOEUR EO      -242381476.4    3231214649
RENTOKIL INITIAL      RTO NR         -242381476.4    3231214649
RENTOKIL INITIAL      RTO VX         -242381476.4    3231214649
RENTOKIL INITIAL      RTO EU         -242381476.4    3231214649
RENTOKIL INITIAL      RTO GR         -242381476.4    3231214649
RENTOKIL INITIAL      RTO QM         -242381476.4    3231214649
RENTOKIL INITIAL      RTO LN         -242381476.4    3231214649
RENTOKIL INITIAL      RTOEUR EU      -242381476.4    3231214649
RENTOKIL INITIAL      RTO EB         -242381476.4    3231214649
RENTOKIL INITIAL      RTO BQ         -242381476.4    3231214649
RENTOKIL INITIAL      RTO NQ         -242381476.4    3231214649
RENTOKIL INITIAL      RTOG IX        -242381476.4    3231214649
RENTOKIL-SP ADR       AP76 LI        -242381476.4    3231214649
RENTOKIL-SP ADR       RTOKY US       -242381476.4    3231214649
SAATCHI & SA-ADR      SSI$ LN        -119260804.2   705060824.5
SAATCHI & SA-ADR      SSA US         -119260804.2   705060824.5
SAATCHI & SAATCH      SSATF US       -119260804.2   705060824.5
SAATCHI & SAATCH      SSI LN         -119260804.2   705060824.5
SAATCHI & SAATCH      188190Q GR     -119260804.2   705060824.5
SCOTTISH MEDIA        SSMR LN        -51512119.25     207340304
SCOTTISH MEDIA        SSM LN         -51512119.25     207340304
SCOTTISH MEDIA        1442Q GR       -51512119.25     207340304
SCOTTISH TELEV        SCTVF US       -51512119.25     207340304
SFI GROUP PLC         SUF LN         -108067115.8   177647536.1
SFI GROUP PLC         SUYFF US       -108067115.8   177647536.1
SKYEPHARMA PLC        SKPGBP EO      -128538078.1     135158758
SKYEPHARMA PLC        SKYEF US       -128538078.1     135158758
SKYEPHARMA PLC        SKP1 VX        -128538078.1     135158758
SKYEPHARMA PLC        SKP EU         -128538078.1     135158758
SKYEPHARMA PLC        SKP VX         -128538078.1     135158758
SKYEPHARMA PLC        SKPEUR EO      -128538078.1     135158758
SKYEPHARMA PLC        SK8C GR        -128538078.1     135158758
SKYEPHARMA PLC        SK8A GR        -128538078.1     135158758
SKYEPHARMA PLC        SKP LN         -128538078.1     135158758
SKYEPHARMA PLC        SKP PO         -128538078.1     135158758
SKYEPHARMA PLC        SKP TQ         -128538078.1     135158758
SKYEPHARMA PLC        SKPEUR EU      -128538078.1     135158758
SKYEPHARMA PLC        SKP PZ         -128538078.1     135158758
SKYEPHARMA PLC        SKP EO         -128538078.1     135158758
SKYEPHARMA PLC        SKP IX         -128538078.1     135158758
SKYEPHARMA -SUB       2976665Z LN    -128538078.1     135158758
SKYEPHARMA-ADR        SK8N GR        -128538078.1     135158758
SKYEPHARMA-ADR        SKYPY US       -128538078.1     135158758
SKYEPHARMA-ADR        SKYEY US       -128538078.1     135158758
SKYEPHARMA-ADR        SKYE US        -128538078.1     135158758
SKYEPHARMA-ADR        AP80 LI        -128538078.1     135158758
SKYEPHARMA-ADR        SK8 GR         -128538078.1     135158758
SKYEPHAR-RTS F/P      SKPF VX        -128538078.1     135158758
SKYEPHAR-RTS F/P      SKPF LN        -128538078.1     135158758
SKYEPHAR-RTS N/P      SKPN VX        -128538078.1     135158758
SKYEPHAR-RTS N/P      SKPN LN        -128538078.1     135158758
SMG PLC               SMG PO         -51512119.25     207340304
SMG PLC               SMG LN         -51512119.25     207340304
SMG PLC-FUL PAID      SMGF LN        -51512119.25     207340304
SMG PLC-NIL PAID      SMGN LN        -51512119.25     207340304
SMITHS NEWS PLC       NWS2 EO         -99944882.2   279114366.1
SMITHS NEWS PLC       NWS2 TQ         -99944882.2   279114366.1
SMITHS NEWS PLC       NWS2 EU         -99944882.2   279114366.1
SMITHS NEWS PLC       NWS1 BQ         -99944882.2   279114366.1
SMITHS NEWS PLC       NWS1 EU         -99944882.2   279114366.1
SMITHS NEWS PLC       SMWPF US        -99944882.2   279114366.1
SMITHS NEWS PLC       NWS PZ          -99944882.2   279114366.1
SMITHS NEWS PLC       NWS2GBP EO      -99944882.2   279114366.1
SMITHS NEWS PLC       NWS IX          -99944882.2   279114366.1
SMITHS NEWS PLC       NWS1GBP EO      -99944882.2   279114366.1
SMITHS NEWS PLC       NWS VX          -99944882.2   279114366.1
SMITHS NEWS PLC       NWS2EUR EO      -99944882.2   279114366.1
SMITHS NEWS PLC       SMWPY US        -99944882.2   279114366.1
SMITHS NEWS PLC       NWS LN          -99944882.2   279114366.1
SMITHS NEWS PLC       NWS1 EO         -99944882.2   279114366.1
SMITHS NEWS PLC       NWS2EUR EU      -99944882.2   279114366.1
SMITHS NEWS PLC       NWS PO          -99944882.2   279114366.1
STAGECOACH GROUP      SGC PO         -113434621.8    2507562892
STAGECOACH GROUP      SGC1AUD EO     -113434621.8    2507562892
STAGECOACH GROUP      SGC1AUD EU     -113434621.8    2507562892
STAGECOACH GROUP      SGC2 VX        -113434621.8    2507562892
STAGECOACH GROUP      SGC1EUR EO     -113434621.8    2507562892
STAGECOACH GROUP      SGC1USD EO     -113434621.8    2507562892
STAGECOACH GROUP      SHP4 GR        -113434621.8    2507562892
STAGECOACH GROUP      SGC1 TQ        -113434621.8    2507562892
STAGECOACH GROUP      SGC LN         -113434621.8    2507562892
STAGECOACH GROUP      SGCG PZ        -113434621.8    2507562892
STAGECOACH GROUP      SGC1 BQ        -113434621.8    2507562892
STAGECOACH GROUP      SGC1 NR        -113434621.8    2507562892
STAGECOACH GROUP      SGC1 EB        -113434621.8    2507562892
STAGECOACH GROUP      SHP GR         -113434621.8    2507562892
STAGECOACH GROUP      SGC1GBP EO     -113434621.8    2507562892
STAGECOACH GROUP      SGC1 QM        -113434621.8    2507562892
STAGECOACH GROUP      SGC IX         -113434621.8    2507562892
STAGECOACH GROUP      SGC1USD EU     -113434621.8    2507562892
STAGECOACH GROUP      SGC1 EO        -113434621.8    2507562892
STAGECOACH GROUP      SAGKF US       -113434621.8    2507562892
STAGECOACH GROUP      SGC1 EU        -113434621.8    2507562892
STAGECOACH GROUP      SGC1EUR EU     -113434621.8    2507562892
STAGECOACH GROUP      SGC1 NQ        -113434621.8    2507562892
STAGECOACH GRP-B      SGCB LN        -113434621.8    2507562892
STAGECOACH-NEW        SGCN LN        -113434621.8    2507562892
STV GROUP PLC         STVG LN        -51512119.25     207340304
STV GROUP PLC         SMG IX         -51512119.25     207340304
STV GROUP PLC         SMG VX         -51512119.25     207340304
STV GROUP PLC         STVGGBP EO     -51512119.25     207340304
STV GROUP PLC         STVGEUR EU     -51512119.25     207340304
STV GROUP PLC         STVG EU        -51512119.25     207340304
STV GROUP PLC         SMGPF US       -51512119.25     207340304
STV GROUP PLC         SMG PZ         -51512119.25     207340304
STV GROUP PLC         STVGEUR EO     -51512119.25     207340304
STV GROUP PLC         STVG EO        -51512119.25     207340304
STV GROUP PLC         STVG VX        -51512119.25     207340304
TELEWEST COM-ADR      TWSTD US        -3702234581    7581020925
TELEWEST COM-ADR      TWSTY US        -3702234581    7581020925
TELEWEST COM-ADR      940767Q GR      -3702234581    7581020925
TELEWEST COM-ADR      TWT$ LN         -3702234581    7581020925
TELEWEST COMM         715382Q LN      -3702234581    7581020925
TELEWEST COMM         TWSTF US        -3702234581    7581020925
TELEWEST COMM         TWT VX          -3702234581    7581020925
TELEWEST COMM         604296Q GR      -3702234581    7581020925
THORN EMI PLC         THNE FP         -2265916257    2950021937
THORN EMI-ADR         THN$ LN         -2265916257    2950021937
THORN EMI-ADR         TORNY US        -2265916257    2950021937
THORN EMI-CDR         THN NA          -2265916257    2950021937
THORN EMI-REGD        1772Q GR        -2265916257    2950021937
TOPPS TILES PLC       TPT IX         -85010363.51   146193829.2
TOPPS TILES PLC       TPT BQ         -85010363.51   146193829.2
TOPPS TILES PLC       TPTEUR EU      -85010363.51   146193829.2
TOPPS TILES PLC       TPT PO         -85010363.51   146193829.2
TOPPS TILES PLC       TPTJF US       -85010363.51   146193829.2
TOPPS TILES PLC       TPTGBP EO      -85010363.51   146193829.2
TOPPS TILES PLC       TPT EO         -85010363.51   146193829.2
TOPPS TILES PLC       TPT LN         -85010363.51   146193829.2
TOPPS TILES PLC       TPT PZ         -85010363.51   146193829.2
TOPPS TILES PLC       TPTJY US       -85010363.51   146193829.2
TOPPS TILES PLC       TPT TQ         -85010363.51   146193829.2
TOPPS TILES PLC       TPT VX         -85010363.51   146193829.2
TOPPS TILES PLC       TPTEUR EO      -85010363.51   146193829.2
TOPPS TILES PLC       TPT EU         -85010363.51   146193829.2
TOPPS TILES-NEW       TPTN LN        -85010363.51   146193829.2
UNIGATE PLC           UNGAF US       -24544959.64   626057950.8
UNIGATE PLC           UNIG LN        -24544959.64   626057950.8
UNIGATE PLC           UNGPF US       -24544959.64   626057950.8
UNIGATE PLC           1577Q GR       -24544959.64   626057950.8
UNIGATE PLC-ADR       UNGAY US       -24544959.64   626057950.8
UNIQ PLC              UNIQF US       -24544959.64   626057950.8
UNIQ PLC              UGE GR         -24544959.64   626057950.8
UNIQ PLC              UNIQ PZ        -24544959.64   626057950.8
UNIQ PLC              UNIQEUR EO     -24544959.64   626057950.8
UNIQ PLC              UNIQEUR EU     -24544959.64   626057950.8
UNIQ PLC              UNIQ IX        -24544959.64   626057950.8
UNIQ PLC              UNIQ LN        -24544959.64   626057950.8
UNIQ PLC              UNIQ EU        -24544959.64   626057950.8
UNIQ PLC              UNIQ VX        -24544959.64   626057950.8
UNIQ PLC              UNIQGBP EO     -24544959.64   626057950.8
UNIQ PLC              UNIQ PO        -24544959.64   626057950.8
UNIQ PLC              UNQPF US       -24544959.64   626057950.8
UNIQ PLC              UNIQ EO        -24544959.64   626057950.8
UTC GROUP             UGR LN         -11904426.45     203548565
VIRGIN MOB-ASSD       VMOC LN        -392165437.6   166070003.7
VIRGIN MOB-ASSD       VMOA LN        -392165437.6   166070003.7
VIRGIN MOBILE         VMOB PO        -392165437.6   166070003.7
VIRGIN MOBILE         UEM GR         -392165437.6   166070003.7
VIRGIN MOBILE         VMOB LN        -392165437.6   166070003.7
VIRGIN MOBILE         VMOB VX        -392165437.6   166070003.7
VIRGIN MOBILE         VGMHF US       -392165437.6   166070003.7
WARNER ESTATE         WRL GR         -37798939.99   432125169.9
WARNER ESTATE         WNER PZ        -37798939.99   432125169.9
WARNER ESTATE         WNER EU        -37798939.99   432125169.9
WARNER ESTATE         WNER PO        -37798939.99   432125169.9
WARNER ESTATE         WNER EO        -37798939.99   432125169.9
WARNER ESTATE         WNER LN        -37798939.99   432125169.9
WARNER ESTATE         WNER VX        -37798939.99   432125169.9
WARNER ESTATE         WNERGBP EO     -37798939.99   432125169.9
WARNER ESTATE         WNER IX        -37798939.99   432125169.9
WARNER ESTATE         WNEHF US       -37798939.99   432125169.9
WATSON & PHILIP       WTSN LN          -120493900   252232072.9
WHITE YOUNG GREE      WHY VX         -35008863.49   305242409.9
WHITE YOUNG GREE      WHYEUR EU      -35008863.49   305242409.9
WHITE YOUNG GREE      WHY PZ         -35008863.49   305242409.9
WHITE YOUNG GREE      WHYEUR EO      -35008863.49   305242409.9
WHITE YOUNG GREE      WHY EO         -35008863.49   305242409.9
WHITE YOUNG GREE      WHY EU         -35008863.49   305242409.9
WHITE YOUNG GREE      WHYGBP EO      -35008863.49   305242409.9
WHITE YOUNG GREE      WHY LN         -35008863.49   305242409.9
WHITE YOUNG GREE      WHY PO         -35008863.49   305242409.9
WHITE YOUNG-NEW       WHYN LN        -35008863.49   305242409.9
WINCANTON PL-ADR      WNCNY US       -63105009.98    1416979806
WINCANTON PLC         WNCNF US       -63105009.98    1416979806
WINCANTON PLC         WIN1GBP EO     -63105009.98    1416979806
WINCANTON PLC         WIN1EUR EO     -63105009.98    1416979806
WINCANTON PLC         WIN1EUR EU     -63105009.98    1416979806
WINCANTON PLC         WIN1 EO        -63105009.98    1416979806
WINCANTON PLC         WIN1USD EO     -63105009.98    1416979806
WINCANTON PLC         WIN IX         -63105009.98    1416979806
WINCANTON PLC         WIN VX         -63105009.98    1416979806
WINCANTON PLC         WIN1 TQ        -63105009.98    1416979806
WINCANTON PLC         WIN PO         -63105009.98    1416979806
WINCANTON PLC         WIN1 QM        -63105009.98    1416979806
WINCANTON PLC         WIN PZ         -63105009.98    1416979806
WINCANTON PLC         WIN1 EU        -63105009.98    1416979806
WINCANTON PLC         WIN1 EB        -63105009.98    1416979806
WINCANTON PLC         WIN LN         -63105009.98    1416979806
WINCANTON PLC         WIN1 BQ        -63105009.98    1416979806
WINCANTON PLC         WIN1 NQ        -63105009.98    1416979806
WINCANTON PLC         WIN1USD EU     -63105009.98    1416979806
WYG PLC               WYGGBP EO      -35008863.49   305242409.9
WYG PLC               WHY IX         -35008863.49   305242409.9
WYG PLC               WYGEUR EU      -35008863.49   305242409.9
WYG PLC               WYG EU         -35008863.49   305242409.9
WYG PLC               WYG EO         -35008863.49   305242409.9
WYG PLC               WYGEUR EO      -35008863.49   305242409.9
WYG PLC               WYG PZ         -35008863.49   305242409.9
WYG PLC               WYG LN         -35008863.49   305242409.9
XXPERT RENTAL         XPRT CN          -123563000     104843000


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets.  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.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/booksto order any title today.

                            *********


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.  Joy A. Agravante, Valerie U. Pascual, Marites O.
Claro, Rousel Elaine T. Fernandez, Frauline S. Abangan and Peter
A. Chapman, Editors.

Copyright 2010.  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$625 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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