TCREUR_Public/100803.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, August 3, 2010, Vol. 11, No. 151



KREMIKOVTZI AD: Vorskla Steela to Take Part in Public Tender


ALCATEL-LUCENT: Net Losses Narrow to EUR184MM in 2nd Qtr. 2010
REXEL SA: To Pay Dividend Next Year if Debt Lowered, Chairman Says


ARCANDOR AG: Borletti Hasn't Made Offer for Karstadt Unit
CONTINENTAL AG: Posts EUR121MM Net Income in 2nd Quarter 2010
HEIDELBERGCEMENT AG: Operating Profit Up 9.1% in Qtr Ended June 30
TUI AG: S&P Affirms 'B-' Long-Term Corporate Credit Rating


* ICELAND: Parliament May Oppose Proposal to Rescue Banks


ALLIED IRISH: Mulls 2,000 Job Cuts This Year
MENTON CDO: Moody's Corrects Report on Event of Default
WARNER CHILCOTT: S&P Retains 'BB' Corporate Credit Rating


INTERNATIONAL BANK: Fitch Affirms 'B-' Issuer Default Rating
METALLOINVEST MANAGEMENT: Moody's Puts 'Ba3' Corp. Family Rating
VTB INSURANCE: Fitch Gives Positive Outlook; Affirms 'BB' Rating


AYT KUTXA: S&P Downgrades Ratings on Class C Notes to Low-B


FERREXPO PLC: S&P Raises Long-Term Foreign Currency Rating to B+

U N I T E D   K I N G D O M

BRIDGEND BOAT: In Liquidation; 30 Jobs Affected
BRITISH AIRWAYS: Faces GBP250MM Loss Over Strikes, Volcanic Ash
BRITISH AIRWAYS: Regulator Approves Pension Recovery Plan
CARTHOW LIMITED: In Administration; Owes Nearly GBP40 Million
EPIC PLC: Fitch Downgrades Rating on Class D Notes to 'BB'

MAYBOURNE HOTEL: Nears GBP600 Million Debt Refinancing Deal
RMAC SECURITIES: Fitch Affirms Ratings on Two Tranches at 'CC'
SOUND TOO: In Administration; Joint Administrators Seek Buyer
STEWART & MCKENNA: In Liquidation; Owes GBP78,000
TOWER ARMS: Put Into Administration Following Shareholder Row

* UK: Real Estate Sector Hardest Hit by Recession, R3 Says
* UK: House of Lords Probes Big Four's Role in Financial Crisis
* UK: Few Passengers Consider Airline Insolvency, Poll Shows


* Large Companies with Insolvent Balance Sheet



KREMIKOVTZI AD: Vorskla Steela to Take Part in Public Tender
Steel Orbis reports that Vorskla Steel Bulgaria, part of the
industrial and financial group Finance and Credit controlled by
Ukrainian businessman Konstantin Zhevago, is still interested in
acquiring Kremikovtzi, which was cleared for liquidation in June
this year.

Citing Sofia News Agency, Steel Orbis says Vorskla Steel intends
to take part in the public tender for the mill's sale which is
planned for mid-September this year.

Steel Orbis relates Vorskla Steel Bulgaria CEO Viktor Demyanyuk
insists his company, which has been declared insolvent, has money
for the purchase, but first wants to check thoroughly the real
condition and state of Kremikovtzi in order to make ensure a
return on the investment and to ensure that the mill can really
produce goods that can be sold on the world market.  According to
Steel Orbis, Mr. Demyanyuk said that Vorskla Steel already has a
recovery plan for Kremikovtzi, which he named "a jalopy with the
price of a Mercedes," and has conducted preliminary talks with the
companies to which the mill owes money and they were ready to
accept deferred payments.

As reported by the Troubled Company Reporter-Europe on July 29,
2010, Bloomberg News said Kremikovtzi will auction its assets on
Sept. 13.  Bloomberg disclosed receiver Tsvetan Bankov said the
starting price for the steel mill's Soviet-era plant is set at
BGN565.52 million (US$375 million).  Assets total BGN840 million,
while debt was estimated at BGN1.9 billion, Bloomberg said, citing
a report from the receiver.  Sealed bids, along with 10% deposits,
are invited, according to Bloomberg.  Bloomberg recalled the Sofia
City Court declared Kremikovtzi bankrupt May 31.  The Sofia-based
plant was placed in receivership in 2008 after failing to pay
suppliers and investors holding BGN325 million (US$422 million) of
bonds, Bloomberg disclosed.  Creditors rejected a restructuring
plan in October 2009, opting to be repaid under insolvency laws,
Bloomberg recounted.  Bloomberg noted that of the total
liabilities, 42% are owed to state-run power and gas utilities,
the state railways and tax authorities.

                        About Kremikovtzi

Kremikovtzi AD Sofia -- is a
Bulgaria-based company principally engaged in the steel industry.
Its production capacity includes a complete steel production
cycle, from ore mining to finished products, such as hot rolled
and cold rolled products (coils, slabs, plates, blooms and
billets), different thickness wire rods and tubes.  The Company's
product range also includes coke and chemical products, flat
products, ferro-alloys and metallurgical lime, and other products.
The Company operates through a number of subsidiaries, including
Ferosplaven zavod EOOD, NLA 2000 EOOD, Kremikovtzi Rudodobiv AD,
Metalresource OOD and others.  The Company is 71%-owned by
Finmetals Holding AD.


ALCATEL-LUCENT: Net Losses Narrow to EUR184MM in 2nd Qtr. 2010
Tim Bradshaw at The Financial Times reports that Alcatel-Lucent
maintained its guidance for the year, in spite of continuing
supply chain problems.

According to the FT, revenue fell 2.4% year-on-year in the second
quarter to EUR3.8 billion.  Compared with the first quarter, sales
rose 17.4%, a better performance than rivals Nokia Siemens
Networks and Ericsson, the FT discloses.

The FT says net losses narrowed from EUR515 million in the first
quarter to EUR184 million.  Alcatel-Lucent has not made an annual
net profit since the two companies merged more than three years
ago, the FT notes.  Nonetheless, the company maintained its target
of "nominal" revenue growth and a 1 to 5% operating margin for the
full year, the FT states.

"Yes, there were component shortages.  We suffered in the first
quarter," the FT quoted Ben Verwaayen, chief executive of Alcatel-
Lucent as saying. "People wanted more from us than we could
deliver.  I think we have worked out a way to deal with that.  The
component problems are still there but we are now much better
placed to help our customers."

                       About Alcatel-Lucent

France-based Alcatel-Lucent (Euronext Paris and NYSE: ALU) -- provides product offerings that
enable service providers, enterprises and governments worldwide,
to deliver voice, data and video communication services to end
users.  In the field of fixed, mobile and converged broadband
networking, Internet protocol (IP) technologies, applications and
services, the company offers the end-to-end product offerings that
enable communications services for residential, business customers
and customers.  It has operations in more than 130 countries.  It
has three segments: Carrier, Enterprise and Services.  The Carrier
segment is organized into seven business divisions: IP, fixed
access, optics, multicore, applications, code division multiple
access networks and mobile access.  Its Enterprise business
segment provides software, hardware and services that interconnect
networks, people, processes and knowledge.  Its Services business
segment integrates clients' networks.  In October 2008, the
company completed the acquisition of Motive, Inc.

                           *     *     *

Alcatel Lucent continues to carry a 'B' long-term corporate credit
rating from Standard & Poor's Ratings Services with a negative
outlook.  S&P lowered the rating to its current level from 'B+' in
November 2009.

REXEL SA: To Pay Dividend Next Year if Debt Lowered, Chairman Says
Tara Patel at Bloomberg News reports that Investir, citing an
interview with Rexel SA Chairman Jean-Charles Pauze, said the
company will pay shareholders a dividend next year if it lowers
its debt.

According to Bloomberg, Mr. Pauze, as cited by Investir, said the
company also wants to cut debt to make acquisitions.

Headquartered in Paris, France, Rexel SA -- distributes more than one million kinds
of electrical parts and supplies, including wiring devices,
cabling systems, circuit protectors, lighting products,
automation equipment, hand tools, climate control equipment, and
electronic security components.  For the twelve months ended
Dec. 31, 2006, Rexel reported total sales and EBITDA of EUR9,299
million and EUR637 million, respectively.

                        *     *     *

As reported by the Troubled Company Reporter-Europe on May 14,
2010, Fitch Ratings assigned France-based electrical distributor
Rexel S.A.'s commercial paper program, aggregating EUR500 million,
a rating of 'B.  In addition, the company's other ratings have
been affirmed at:

  -- Long-term foreign currency Issuer Default 'BB-', with Stable

  -- Short-term IDR 'B'

  -- Senior unsecured 'BB-'


ARCANDOR AG: Borletti Hasn't Made Offer for Karstadt Unit
Nicholas Comfort at Bloomberg News report that Karstadt
administrator Klaus Hubert Goerg said a document sent by Italian
entrepreneur Maurizio Borletti regarding Arcandor AG's department-
store chain doesn't constitute an offer for the German retailer.

"To our knowledge, he hasn't done the due diligence.  Offers look
different," Bloomberg quoted Thomas Schulz, a spokesman for
Mr. Goerg, as saying.

Berggruen Holdings Ltd. signed a contract to acquire Karstadt on
June 8, meaning subsequent expressions of interest can't be
considered offers, Bloomberg says, citing Mr. Schulz.

Bloomberg relates Bild am Sonntag reported that Borletti made a
EUR100 million (US$131 million) bid for Karstadt on July 30 in
case Berggruen's takeover fails.  Mr. Schulz, as cited by
Bloomberg, said that while the EUR100 million figure does feature
in a document Mr. Borletti submitted to the insolvency
administrator, it isn't clear how a bid would be structured.

Mr. Borletti holds a stake in the Highstreet, Karstadt's main
landlord, Bloomberg discloses.

                        About Arcandor AG

Germany-based Arcandor AG (FRA:ARO) --
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, 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.

CONTINENTAL AG: Posts EUR121MM Net Income in 2nd Quarter 2010
Cornelius Rahn at Bloomberg News reports that Continental AG
posted a net income of EUR121 million (US$158 million) in the
second quarter of 2010, compared with a EUR190 million loss a year

Bloomberg says revenue rose 40% to EUR6.66 billion

Continental aims to reorganize more than EUR8 billion of debt as
it works toward merging with majority shareholder Schaeffler
Group, Bloomberg discloses.

According to Bloomberg, Chief Financial Officer Wolfgang Schaefer
said the company plans to sell a total of as much as EUR4 billion
in bonds to stretch out its debt repayment schedule, and will
makes the sales when it's "opportune".

Continental's debt stems from its 2007 purchase of Siemens AG's
VDO auto-component business, Bloomberg notes.

                       About Continental AG

Hanover, Germany-based Continental AG (OTC:CTTAY) -- is an automotive industry
supplier.  The Company focuses its activities on the development,
production and distribution of products that improve driving
safety, driving dynamics and ride comfort.  It operates in six
divisions.  Chassis and Safety provides active and passive driving
safety, safety and chassis sensor systems, as well as chassis
components.  Powertrain focuses on engine systems, hybrid electric
drives, injection technology, and sensors and actuators, among
others.  Interior manufactures information management modules and
wireless mobile devices.  Passenger and Light Truck Tires provides
tires for passenger cars, motorcycles and bicycles.  Commercial
Vehicle Tires offers tires for trucks, as well as industrial and
off-the-road vehicles.  ContiTech specializes in the rubber and
plastics technology, offering parts, components and systems for
the automotive industry and other sectors.  In January 2009,
Schaeffler KG acquired 49.9% interest in the Company.

                          *     *     *

As reported by the Troubled Company Reporter-Europe on July 20,
2010, Fitch Ratings affirmed Continental AG's Long-term Issuer
Default rating at 'B+' following the announcement on July 9, 2010
of Conti-Gummi Finance BV's issuance of EUR750 million of senior
secured notes due 2015, which were guaranteed on a senior basis by
Continental.  Fitch said the Outlook on the Long-term IDR is
Stable.  Fitch assigned Conti-Gummi Finance BV's senior secured
notes an issue rating of 'BB-' and a Recovery Rating of 'RR3'.
Simultaneously, Continental's senior unsecured rating, which was
previously placed on Rating Watch Negative was withdrawn.
Continental's Short-term IDR was affirmed at 'B'.

As reported by the Troubled Company Reporter-Europe on July 19,
2010, Moody's Investors Service affirmed the B1 corporate family
rating of Continental AG and assigned a definitive B1 rating
(LGD4, 51%) to its newly issued secured high-yield bond.  At the
same time, the rating agency changed the outlook on the
ratings to stable from negative.

HEIDELBERGCEMENT AG: Operating Profit Up 9.1% in Qtr Ended June 30
Richard Weiss at Bloomberg News reports that HeidelbergCement AG
said sales rose for the first time in six quarters as a rebound in
the global economy revived demand.

According to Bloomberg, sales in the quarter ended June 30 rose
9.5% to EUR3.3 billion (US$4.3 billion), while operating profit
rose 9.1% to EUR693 million.

Bloomberg says HeidelbergCement Chief Executive Officer Bernd
Scheifele remains focused on cutting costs and debt, while
completing a four-year, 20 million metric-ton expansion of
production capacity in countries such as Poland and Russia by
2012.  He widened his 2010 cost-cutting target by 50 percent to
EUR300 million in February after financing and other costs slashed
profit 98 percent last year, Bloomberg notes.

Bloomberg relates the company cut 3,239 jobs, or 5.7% of its
workforce, in the 12 months through June, and is in the process of
eliminating as many as 350 positions in North America.

Net debt at June 30 was EUR9.07 billion, up from EUR8.96 billion
on March 31, Bloomberg discloses.  Bloomberg notes Chief Financial
Officer Lorenz Naeger said on a conference call the company will
fail to achieve credit metrics that would qualify it for
investment-grade credit rating this year.

                     About HeidelbergCement

Based in Heidelberg, Germany, HeidelbergCement AG (FRA:HEI) -- is a global producer of
cement, concrete and building materials.  The Company's core
activities include the production and distribution of cement and
aggregates, the two raw materials for concrete.  It is also
engaged in the provision of such products as ready-mixed concrete,
as well as concrete products and elements.  It divides its
activities into four group areas: Europe-Central Asia, North
America, Asia-Australia-Africa-Mediterranean and Group Services.
It divides its products into three lines: cement, aggregates and
concrete and building products.  Its products include sand,
gravel, crushed stone, white cement, trass cement, masonry cement,
aquament and portland cement for hydraulic engineering, as well as
light, heavy and aerated concrete building blocks, pavers,
prefabricated ceilings and walls, prefabricated cellar units and
prefabricated sewage works units, among others.  In 2007, the
Company took over Hanson Group.

                           *     *     *

As reported by the Troubled Company Reporter-Europe on June 28,
2010, Fitch Ratings upgraded Germany-based HeidelbergCement AG's
Long-term Issuer Default and senior unsecured ratings to 'BB' from
'BB-'.  Fitch said the Outlook on the Long-term IDR is Stable.
HC's Short-term IDR was affirmed at 'B'.  Fitch also assigned a
senior unsecured rating of 'BB' to HC's EUR650 million 6.75% notes
due in December 2015, issued under its EMTN program.

TUI AG: S&P Affirms 'B-' Long-Term Corporate Credit Rating
Standard & Poor's Ratings Services said that it affirmed its 'B-'
long-term corporate credit rating on Germany-based tourism and
shipping conglomerate TUI AG and removed it from CreditWatch,
where it was originally placed with negative implications on
July 29, 2009.  The outlook is negative.

At the same time, the issue ratings of 'CCC+' on the senior
unsecured debt, and of 'CCC-' on the junior subordinated debt,
were affirmed and removed from CreditWatch negative.  The recovery
ratings of '5' on the senior unsecured debt, and of '6' on the
junior subordinated debt, are unchanged.

"The removal of the rating from CreditWatch negative reflects
S&P's assessment that TUI AG's near-term liquidity prospects have
improved, although S&P considers that the group remains dependent
on proceeds from further asset sales to maintain adequate
liquidity," said Standard & Poor's credit analyst Philip Temme.
"After the severe downturn in 2009, TUI stands to benefit from
stronger performance at its shipping associate Hapag-Lloyd AG in

A succession of refinancing measures in the past year has
contributed to improved near-term liquidity prospects.  In the
final quarter of 2009, the group completed a EUR1.95 billion
government-assisted refinancing of HL, and the state loan
guarantees remain undrawn.  Shortly afterwards, TUI issued a
EUR218 million convertible and TUI Travel PLC issued a
GBP350 million convertible and obtained GBP140 million of
additional bank facilities.  Earlier in 2010, a EUR200 million TUI
loan to HL was refinanced by HL's majority shareholders and TTP
repaid EUR250 million of its shareholder loan.  In April 2010, TTP
issued a GBP400 million convertible and signed up GBP150 million
of additional bank facilities.  A further EUR509 million TTP
shareholder loan repayment is due in early December 2010.

Operating performance at HL has improved significantly after its
tumultuous 2009.  Shipping freight rates troughed in July 2009 and
volumes have risen more recently on the back of the recovery in
world trade and progress toward achieving HL's $1.1 billion cost
savings target.  TUI now expects HL's at-equity contribution for
financial 2010 to be positive, although dividends remain frozen
until the state loan guarantees are cancelled.

The group has initiated an asset-streamlining program totaling
EUR500 million, to comprise sales of businesses and real estate,
as well as sale-and-leasebacks.  Progress with asset disposals has
been only modest to date.

In S&P's view, TUI's likely dependence on proceeds from further
asset sales to maintain adequate liquidity, notably from 2012
onward, as well as its still highly leveraged financial profile
and continuing substantial exposure to HL.  In the absence of any
HL refinancing, S&P considers that TUI will need to accelerate its
disposal program to ensure adequate medium-term liquidity.

Ratings are conditional on TUI maintaining satisfactory progress
with asset disposals and could be lowered in the event of limited
progress in that respect or other evidence of liquidity-related
stress.  Continuing weak credit metrics mean that S&P considers
rating upside minimal at this point.


* ICELAND: Parliament May Oppose Proposal to Rescue Banks
Iceland's parliament may block any government attempt to
recapitalize the island's banks after a court ruling threatened to
leave some lenders insolvent, Omar R. Valdimarsson at Bloomberg
News reports, citing opposition party leaders and coalition

Thirty-four lawmakers in the 63-seat Reykjavik-based assembly plan
to vote against a government proposal to rescue lenders, Bloomberg
says, citing three opposition party heads and three members of the
coalition.  The government, which can't bail out the banks for a
second time in as many years without parliamentary backing, may
need to support the industry after a June 16 court ruling made
them liable for currency losses on as much as US$28 billion in
loans, Bloomberg notes.

The government and the country's financial regulator estimate the
June court ruling may cost the island's banks between US$1.1
billion and US$4.3 billion, Bloomberg notes.

Bloomberg says the island may be heading for its second financial
crisis while the legislature is on vacation.  Parliament has been
in recess since June 24 and won't reconvene until Sept. 1,
Bloomberg discloses.

According to Bloomberg, with the legislature absent, the cabinet
could pass an emergency bill to allow a capital injection.  Any
law would need to be approved by parliament no later than six
weeks after it reconvenes, Bloomberg notes, citing Gisli Kr.
Bjornsson, a constitutional expert at the Lagarok law firm in


ALLIED IRISH: Mulls 2,000 Job Cuts This Year
Dara Doyle at Bloomberg News, citing the Sunday Tribune, reports
that Allied Irish Banks Plc may cut as many as 2,000 jobs later
this year.

According to Bloomberg, the newspaper said the bank, which
employed 24,681 people at the end of last year, won't detail any
job cuts until after the European Commission approves its
restructuring plan and it sells assets.

Allied Irish Banks, p.l.c., together with its subsidiaries -- conducts retail and commercial banking
business in Ireland.  It also provides corporate lending and
capital markets activities from its head office at Bankcentre and
from Dublin's International Financial Services Centre.  The Group
also has overseas branches in the United States, Germany, France
and Australia, among other locations.  The business of AIB Group
is conducted through four operating divisions: AIB Bank Republic
of Ireland division, Capital Markets division, AIB Bank UK
division, and Central & Eastern Europe division.  In February
2008, the Group acquired the AmCredit mortgage business in the
Baltic states of Latvia, Lithuania and Estonia.  In September
2008, the Group also acquired a 49.99% shareholding in BACB.

                           *     *     *

As reported by the Troubled Company Reporter-Europe on July 23,
2010, Moody's Investors Service affirmed AIB's long-term bank
deposit and debt ratings.  These are A1 for long-term bank
deposits and senior debt, A2 for dated subordinated debt, Ba3 for
undated subordinated debt, B1 for cumulative tier 1 securities and
Caa1 for non-cumulative tier 1 securities.  Moody's said the
outlook on these ratings is stable.  AIB's bank financial strength
rating of D, which maps to Ba2 on the long term rating scale, with
a positive outlook was unaffected by the rating action.

MENTON CDO: Moody's Corrects Report on Event of Default
Moody's Investors Service reported that the transaction
experienced an event of default on 28 February 2009 as a result of
non-payment of interest on the controlling class of notes but it
has since come to Moody's attention that this event of default did
not occur.  Menton CDO III p.l.c. published an announcement on 27
April 2009 to confirm that the event of default had been reported
in error.  Please see the Irish Stock Exchange website for further
information on that announcement.  This had no impact on Moody's
decision to withdraw ratings in respect of all classes of notes,
as that rating action was prompted by the cancellation of those

Corrected press release:

Moody's Investors Service announced these rating actions on notes
issued by Menton CDO III p.l.c., a synthetic CDO backed by a
portfolio of structured finance securities.

  -- US$54,000,000 Class A-1 Secured Floating Rate Notes due 2057,
     Withdrawn; previously on March 28, 2008 Downgraded to C

  -- US$15,000,000 Class A-2 Secured Floating Rate Notes due 2057,
     Withdrawn; previously on March 28, 2008 Downgraded to C

  -- US$37,000,000 Class B Secured Floating Rate Notes due 2057,
     Withdrawn; previously on Feb. 22, 2008 Downgraded to C

  -- US$30,000,000 Class C Secured Floating Rate Notes due 2057,
     Withdrawn; previously on Feb. 22, 2008 Downgraded to C

  -- US$27,700,000 Class D Secured Floating Rate Notes due 2057,
     Withdrawn; previously on Feb. 22, 2008 Downgraded to C

  -- US$19,800,000 Class E Secured Floating Rate Notes due 2057,
     Withdrawn; previously on Feb. 22, 2008 Downgraded to C

All classes of notes suffered a 100% loss due to credit events on
the underlying portfolio assets.  The rating withdrawals follow
the subsequent cancellation of the notes.  Moody's Withdrawal
Policy can be found on in the Ratings Process
subdirectory, in the Ratings Definitions subdirectory.

WARNER CHILCOTT: S&P Retains 'BB' Corporate Credit Rating
Standard & Poor's Ratings Services said that its 'BB' corporate
credit rating and stable outlook on Ireland-based Warner Chilcott
plc remain unchanged following the company's announcement that it
will be issuing incremental debt to pay an entirely debt-financed
US$2.25 billion shareholder dividend.

S&P believes that the announcement of an all debt-financed
dividend is reflective of a more aggressive financial policy than
had been factored into S&P's previous assessment of the company's
financial risk profile.  However, S&P notes that the full-year
contribution of revenue and cash flow from the acquisition of
Procter & Gamble's prescription pharmaceutical business (PGP) is
able to support the additional debt and keep financial metrics at
a level that still supports the current 'BB' rating.  This is
exhibited by leverage of less than 4x and funds from operations to
total debt of more than 20%.  While the business risk profile is
not directly impacted by this transaction, S&P will monitor the
results of the launch of the next generation of Actonel, currently
anticipated to be in early 2011, given that the current product
accounts for a significant portion of Warner Chilcott's revenues
and cash flow.


INTERNATIONAL BANK: Fitch Affirms 'B-' Issuer Default Rating
Fitch Ratings has affirmed International Bank of Saint
Petersburg's Long-term Issuer Default Rating at 'B-', removed the
rating from Rating Watch Evolving and assigned a Stable Outlook.
A full rating breakdown is provided at the end of this comment.

The affirmation of IBSP's Long-term IDR takes into account the
strengthening of certain aspects of Russia's banking system
infrastructure during the global financial crisis, most notably in
respect of banks' ability to access liquidity.  However, the
bank's ratings remain constrained due to its high level of
related-party business and significant exposure to the real estate
and construction sectors, the quality of which is of particular
concern.  Further constraints are represented by the concentrated
balance sheet, tight capitalization and exposure to market risk.
The ratings also take into account the bank's reasonably managed

Exposure to related parties increased in 2009 and accounted for a
significant 31% of total loans at end-2009 (end-2008: 21%).  About
half of this exposure was to the affiliated Interleasing group,
while the growth in related party lending was largely driven by
SPVs affiliated to the bank taking participation in the equity of
borrowers from the real estate/construction sectors.  Management
has informed Fitch that this was done to improve security on the
loans, and that some of these participations have since been
unwound following registration of collateral.  Overall
concentration on real estate/construction has remained high, yet
decreased relative to equity (at end-5M10: 153%, end-2008: 233%).
Fitch is concerned about the quality of these exposures as a
substantial portion of these loans were extended or restructured.
The concentration on top 20 borrowers remained high (60% of loans
or 351% of equity at end-5M10), although Interleasing group
accounted for 21% of these exposures.  IBSP continues to report
moderate levels of overdue loans (1.9% of loans were overdue by
more than one day at end-5M10), however, the level of
extended/restructured loans stood at approximately 34% of total
loans.  Loan impairment reserves were equal to a low 3.5% in local
accounts at end-5M10.

Capital is viewed as tight, with a regulatory capital ratio of
14.1% at end-5M10, particularly given the sizable (33%) Tier 2
component of capital, high credit risk and low reserves.

Funding is sourced primarily from concentrated corporate accounts,
with the top 20 and top five clients accounting for a high 52% and
30%, respectively, of customer funding at end-2009.  Therefore,
IBSP's liquidity is potentially vulnerable and relies on these
accounts remaining stable.  At end-5M10, highly liquid assets
stood at 10% of total assets, but RUB4.2bn of unpledged securities
eligible for CBR refinancing and RUB6.8bn of promissory notes
eligible for repo with other banks (together equal to 35% of
assets) represented a solid liquidity cushion.

IBSP is a medium-sized corporate Russian bank.  It is 98%-owned by
Sergey Bazhanov, the former chairman of the bank's management
board and a senator of Russian Federation.  The bank's network is
limited to a head office in Saint-Petersburg and five branches in
Russian regions, but to an extent supported by the regional
franchise of the Interleasing group, in which Mr. Bazhanov owns a
80% stake.

The rating actions are:

  -- Long-term foreign currency IDR: affirmed at 'B-'; removed
     from Rating Watch Evolving; assigned Stable Outlook

  -- Long-term local currency IDR: assigned at 'B-'; Outlook

  -- Short-term IDR: affirmed at 'B'

  -- Individual Rating: affirmed at 'D/E'; removed from Rating
     Watch Evolving

  -- Support Rating: affirmed at '5'

  -- Support Rating Floor: affirmed at 'No Floor'

  -- National Long-term Rating: affirmed at 'BB- (rus)'; removed
     from Rating Watch Evolving; assigned Stable Outlook

METALLOINVEST MANAGEMENT: Moody's Puts 'Ba3' Corp. Family Rating
Moody's Investors Service has assigned a Ba3 corporate family
rating to Metalloinvest Management Company LLC and a Ba3
Probability of Default Rating.  Concurrently, Moody's Interfax
Rating Agency has assigned an national scale rating to the
company.  Moscow-based Moody's Interfax is majority-owned by
Moody's, a leading global rating agency.  The outlook on the
ratings is stable.  This is the first time that Moody's rates the

The CFR of Ba3 reflects Metalloinvest's proven iron ore production
capacity, its long-life reserve base and its good historic
profitability as measured by average 3-year EBIT margin at 24.3%.
Metalloinvest also benefits from its integrated steel business
model with a large share of niche and value-added products.  Also
positive is the ability of the company in 2009 to generate free
cash-flow.  Weighing negatively on the rating is the high debt
level and leverage at the end of the year 2009, largely induced by
the recent economic crisis, and a weak liquidity profile depending
on operating cash flow generation.

Moody's also considers that the company is a low cost producer of
hot briquette iron supported by its own iron ore reserves and the
general low input costs that a company that is operating in Russia
can benefit from.  In addition the recent recovery in commodity
prices has helped strongly improving Metalloinvest's performance
in 2010.  The geographical location with close proximity to
transportation routes and access to the fast growing markets in
Russia, CIS and Eastern Europe was also assessed as a positive
factor.  Furthermore Moody's also understands that the company is
engaged in the implementation of an investment program which is
aimed at enhancing the quality and competitiveness of the
company's core production, thereby possibly helping Metalloinvest
to expand its market share of high added value iron ore products
and support its cash flow going forward.

On the other hand the agency considers that Metalloinvest has
limited business diversification as all its core iron ore
production assets are located in the same region in Russia, that
it is faced with a high exposure to one mineral -- iron ore -- and
the dependence of the financial performance on the steel cycle,
that its export potential is limited due to the land-lock location
of mines which could slow down further growth of its mining
business.  The rating also incorporates the expectation that the
management will continue to focus on debt reduction and organic
growth rather than on high shareholder returns and large debt-
financed acquisitions.

The Company's financial profile has been materially affected by
the crisis situation in 2008 and 2009 with a high level of debt
(US$7.1 billion reported debt at the end of 2008, US$5.7 billion
at the end of 2009 and as per management accounts per end of June
2010 US$4.4 billion).  Moody's estimates that the company has to
repay US$1.3 billion of debt in the next four quarters which
largely depends on the expected cash flow generation and the
company also has access to some committed credit facilities which
contain financial covenants (though a number of these facilities
have currently covenant holiday until end of 1H 2011).

The stable outlook indicates Moody's expectations that the 2010
performance of the company should support the current rating and
would demonstrate positive trends in financial metrics especially
reduction in leverage and improved cash flow generation.  For an
upgrade Moody's would like to see the debt/EBITDA ratio not
exceeding 2.0x and FCF/Debt becoming consistently over 20%.  The
stable outlook also incorporates the expectation that the
company's leverage will converge towards 2.5x (based on Moody's
adjusted figures) and (CFO-dividends)/debt will move towards 30%
in the next 18 months.  It also incorporates the expectation that
short term liquidity will remain sufficient going forward.
Failure to achieve these ratios would put downward pressure on the

In 2009 the Group produced app. 32 million t of ore and
concentrate, 19 million t of pellets, 4.6 million t of HBI/DRI and
6.5 million t of crude steel.  The group reported US$4.8 billion
in revenue (49% decrease Y-o-Y) and US$0.8 billion in EBITDA.  The
company has the world's 2-nd largest iron ore reserve base and is
the 7th largest supplier of ore globally.  In addition, the is the
5th largest steel producer in Russia.

VTB INSURANCE: Fitch Gives Positive Outlook; Affirms 'BB' Rating
Fitch Ratings has revised VTB Insurance (Russia)'s Outlooks to
Positive.  Its ratings have been affirmed at Insurer Financial
Strength 'BB' and National IFS 'AA-(rus)'.

The Outlook change reflects VTBI's strengthened standalone
profile, which includes improvement of its operating performance
and capital position through internal sources.  The ratings
continue to reflect ongoing support from the 100% shareholder,
state-owned Bank VTB ('BBB'/Stable), Russia's second-largest bank
by assets and equity, access to the parent's distribution network
and a good quality investment portfolio.  The ratings also take
into account the challenges in managing VTBI's rapid premium
growth, relatively short track record of sustainable operations
and competitive operating environment.

VTBI's operating performance has improved considerably, with the
return on adjusted equity rising to 57% in 2009 compared with
negative results in 2005-2008.  This strengthening has primarily
been a result of the improved underwriting performance, but has
also been supported by favorable investment yield.

A notable improvement of the underwriting result in 2009 was
driven by a decline in acquisition costs following changes in the
business mix and also by a decline in administrative expenses amid
rapid growth of premium volume.  At the same time, the loss ratio
deteriorated slightly, reflecting two opposing trends in the
insurance portfolio.  On one hand, one of the most profitable
lines -- accident -- has doubled its weighting in the portfolio to
26% in 2009.  On the other hand, a number of other key lines of
business demonstrated deterioration in their loss ratios.

According to Fitch's internal assessment, VTBI's net income for
2009 has helped strengthen its capital position through internal
sources for the first time in the company's history.  The
shareholder does not plan to make further injections in the medium
term, but remains committed to support the insurance subsidiary,
should the need arise.  Fitch notes that VTBI is already prepared
to meet new regulatory capital requirements that come into force
from 2012.  The agency also notes that the insurer has a strong
liquidity position and a good quality investment portfolio, with
99% placed in cash and bank deposits at FYE09, although with
significant concentrations at the parent bank.

The 7% contraction of the local insurance sector in 2009 did not
prevent dynamic growth in VTBI's premiums, which increased 53% in
2009, albeit slower than the levels seen in 2007 and 2008.  This
achievement was largely a result of the insurer's captive position
and increased use of the parent group's distribution channels.
VTBI projects to grow by 40% a year over the medium term.  Fitch
notes that these plans are rather ambitious and is concerned about
the insurer's ability to monitor the loss development and manage
reserve and capital adequacy accordingly, particularly taking into
account the recent unfavourable trends in the loss ratios of some
of the insurer's key lines of business.  To some extent, these
concerns are mitigated by the ability and commitment of the
shareholder to support VTBI as well as the restructuring of the
underperforming parts of the business commenced in 2010.

VTBI focuses on primary non-life insurance written in Russia.
In 2009 64% of its premiums were derived from the parent bank's
distribution channel.  Its gross premiums written amounted to
RUB3.6 billion in 2009, and its total assets stood at
RUB2.9 billion at FYE09.


AYT KUTXA: S&P Downgrades Ratings on Class C Notes to Low-B
Standard & Poor's Ratings Services took various rating actions on
three Spanish residential mortgage-backed securities transactions:
AyT Kutxa Hipotecario I, Fondo de Titulizacion de Activos, AyT
Kutxa Hipotecario II, Fondo de Titulizacion de Activos, and
AyTKutxa Hipotecario III, Fondo de Titulizacion de Activos.

Specifically, S&P has:

* Upgraded AyT Kutxa Hipotecario I's class B and C notes, removed
  the class B notes from CreditWatch positive, and affirmed the
  class A notes;

* Downgraded AyT Kutxa Hipotecario II's class A, B, and C notes
  and removed the class C notes from CreditWatch negative; and

* Downgraded AyT Kutxa Hipotecario III's class A, B, and C notes
  and removed each class from CreditWatch negative.

Caja de Ahorros y Monte de Piedad de Gipuzkoa y San Sebastian
(Kutxa) (A/Negative/A-1) issued the notes in May 2006, February
2007, and May 2008 (AyT Kutxa Hipotecario I, II, and III,
respectively).  A portfolio of residential mortgage loans secured
over properties in Spain backs each transaction.

On March 22, 2010, S&P put on CreditWatch positive AyT Kutxa
Hipotecario I's class B notes.  The transaction had been
performing well, in particular, 90+ day delinquencies, including
defaulted loans, were 0.66% of its April mortgage portfolio.

On the same date, S&P placed on CreditWatch negative various
ratings in AyT Kutxa Hipotecario II and III as they were
displaying worsening performance, especially among the less
seasoned mortgage loans and those with higher loan-to-value
ratios.  S&P believes this was in line with the market trend.
Severe delinquencies (measured as 90+ day delinquencies and
including defaulted loans) were 3.28% in April 2010 for AyT Kutxa
Hipotecario II and 8.26% in January 2010 for AyT Kutxa Hipotecario

All the transactions feature a structural mechanism that traps
excess spread to provide for defaults.  Defaults in these
transactions are defined as arrears greater than 18 months.  In
March 2010 the levels of cumulative defaults over the original
pool balance were 0.08%, 1.65%, and 4.81%, for AyT Kutxa
Hipotecario I, II, and III, respectively.

As of S&P has run its cash flow models with the updated
information that has been provided to us and its analysis
indicated an improvement in the results for AyT Kutxa Hipotecario
I due to the transaction's low arrears and that the reserve fund
is its required level.  As a result, S&P believes AyT Kutxa
Hipotecario I's class B and C notes warrant an upgrade.

S&P's analysis also showed a deterioration in the results for AyT
Hipotecario II and III, which S&P believes have been weakened by
the draws that have been made to their reserve funds.  After the
July 2010 payment dates, the current levels of AyT Kutxa
Hipotecario II and III's reserve funds are 24.54% and 1.09% of
their original amounts, respectively.  Consequently, S&P has
downgraded all the notes in both of these transactions.

                           Ratings List

     AyT Kutxa Hipotecario I, Fondo de Titulizacion de Activos
        EUR750 Million Mortgage-Backed Floating-Rate Notes

                         Rating affirmed

                        Class      Rating
                        -----      ------
                        A          AAA

                          Ratings Raised

               Class       To           From
               -----       --           ----
               B          AA            A/Watch Pos
               C          BBB+          BBB

    AyT Kutxa Hipotecario II, Fondo de Titulizacion de Activos
        EUR1.2 Billion Mortgage-Backed Floating-Rate Notes

                         Ratings lowered

                   Class       To           From
                   -----       --           ----
                   A          AA            AAA
                   B          BBB-          A

       Ratings Lowered and Removed from CreditWatch negative

              Class       To           From
              -----       --           ----
              C          B             BBB/Watch Neg

    AyT Kutxa Hipotecario III, Fondo de Titulizacion de Activos
                EUR500 Million Floating-Rate Notes

      Ratings Lowered and Removed from CreditWatch negative

              Class       To           From
              -----       --           ----
              A          A-            AAA/Watch Neg
              B          BB            A/Watch Neg
              C          B-            BBB/Watch Neg


FERREXPO PLC: S&P Raises Long-Term Foreign Currency Rating to B+
Standard & Poor's Ratings Services said that it had raised its
long-term foreign currency rating on Ukraine-based iron ore
producer Ferrexpo PLC to 'B+' and removed it from CreditWatch with
positive implications, where it had been placed on July 23, 2010.
At the same time, the 'B+' long-term local currency and 'B'
foreign and local currency short-term corporate credit ratings on
Ferrexpo were affirmed.  The outlook is stable.

"The rating action follows a similar action S&P took on the
sovereign on July 29, 2010," said Standard & Poor's credit analyst
Alex Herbert.

The ratings on Ferrexpo reflect S&P's opinion of the group's weak
business risk profile and aggressive financial risk profile.
Supporting factors include the midcost position of the group's
mining operations, long reserve life, proximity to European steel
markets, and attractive industry characteristics.  Furthermore,
the group is focused on exports, and profitability is healthy.  In
addition, in S&P's view, Ferrexpo has a moderate financial policy
and limited leverage, which provides it with the financial
flexibility to execute its growth strategy.

Constraining factors include increased volatility in iron ore
prices, industry cost pressures, and capital intensity.
Furthermore, Ferrexpo has a narrow diversity of operations in
S&P's view.  The group's assets are all located in Ukraine, where
country risks -- including a very weak banking sector, political
instability, and delays in value-added tax receipts -- are a
constraint, although in S&P's opinion, Ferrexpo manages these
risks adequately.

The stable outlook reflects S&P's view that Ferrexpo will be able
to maintain credit metrics commensurate with the ratings.  In
S&P's credit scenario, S&P assumes that high iron ore prices will
moderate over time, and that capital expenditures will rise as the
group invests in and develops its operations.  S&P nevertheless
envisages moderate leverage and satisfactory credit metrics, and
consider ratios of funds from operations to adjusted debt of 30%
and adjusted debt to EBITDA of 2.5x to be in line with the

"Further ratings upside for the ratings on Ferrexpo is constrained
by S&P's view of the risks of its limited diversification--in
particular, Ukraine country risks, where the group's operations
are located; volatile iron ore prices; and capital intensity,"
said Mr. Herbert.

S&P does not anticipate downward rating pressure, but this could
develop if, for example, there was a sharp downturn in iron ore
prices at a time when the group was undertaking significant
capital expenditures, leading to weaker credit ratios than
indicated.  S&P does not factor in debt-financed acquisitions.

U N I T E D   K I N G D O M

BRIDGEND BOAT: In Liquidation; 30 Jobs Affected
The Herald reports that Bridgend Boat Co. Ltd. has gone into
liquidation with the loss of 30 jobs, blaming cashflow problems
associated with constructing a GBP2.1 million ship for the sea

According to the report, the company claimed it was owed
GBP750,000 when costs over-ran on the construction of the 80ft TS
Jack Petchy.

The report relates Peter Humphrey, Bridgend's former business
development director, admitted the firm was paid GBP2 million, but
added: "The costs over-ran, various things that need extras."
Mr. Humphrey, as cited in the report, said it would have cost
GBP250,000 and taken 18 months to pursue the claim in court, and
Bridgend could not afford that.  The report notes he said that
although "the majority of creditors" supported Bridgend, it would
have only been a matter of time before someone wanted paying,
giving him no alternative but to go into voluntary liquidation.

Bridgend Boat Co Ltd. was a boat building firm based in Batten.

BRITISH AIRWAYS: Faces GBP250MM Loss Over Strikes, Volcanic Ash
Alan Jones at Daily reports that cabin crew strikes
and the volcanic ash disruption sent British Airways GBP164
million into the red in the three months to June.

According to the report, the double whammy cost the airline around
GBP250 million over the quarter.

The report relates cabin crew have been on strike for 22 days
since March and further walkouts could take place from September
unless peace talks at Acas next week lead to a breakthrough.

The report notes BA's chief executive Willie Walsh said the
airline had seen an improved operating performance in recent
months despite the disruptions and he still expects the company to
break even this year after two years of losses.

                      About British Airways

Headquartered in Harmondsworth, England, British Airways Plc,
along with its subsidiaries, (LON:BAY) -- is
engaged in the operation of international and domestic scheduled
air services for the carriage of passengers, freight and mail and
the provision of ancillary services.  The Company's principal
place of business is Heathrow.  It also operates a worldwide air
cargo business, in conjunction with its scheduled passenger
services.  The Company operates international scheduled airline
route networks together with its codeshare and franchise partners,
and flies to more than 300 destinations worldwide.  During the
fiscal year ended March 31, 2009 (fiscal 2009), the Company
carried more than 33 million passengers.  It carried 777,000 tons
of cargo to destinations in Europe, the Americas and throughout
the world.  In July 2008, the Company's subsidiary, BA European
Limited (trading as OpenSkies), acquired the French airline,

                           *     *     *

As reported in the Troubled Company Reporter-Europe on March 19,
2010, Moody's Investors Service lowered to B1 from Ba3 the
Corporate Family and Probability of Default Ratings of British
Airways plc; and the senior unsecured and subordinate ratings to
B2 and B3, respectively.  Moody's said the outlook is stable.
This concludes the review that was initiated on November 10, 2009.
The rating action reflects Moody's view that credit metrics will
not be commensurate with the previous rating category in the
medium term.  Moody's expect furthermore that metrics will be
burdened in the foreseeable future by the company's significant
pension deficit, which was at GBP2.6 billion for the APS and NAPS
schemes combined as of September 2009 (under IAS).  Moody's
nevertheless understand that under the current agreement with the
trade unions, the cash contributions to these deficits will be
frozen at GBP330 million per year for three years, subject to
approval by the Pensions Regulator and the trustees.

BRITISH AIRWAYS: Regulator Approves Pension Recovery Plan
Kaveri Niththyananthan at Dow Jones Newswires reports that the
U.K. pension regulator has approved British Airways PLC's recovery
plan to deal with its GBP3.7 billion pension deficit, paving the
way for a merger with Spanish airline Iberia Lineas Aereas de
Espana S.A.

Dow Jones recalls in June, the U.K. carrier agreed a deal with
pension trustees that avoided closing the schemes.  BA's pension
deficit has been a thorn in merger discussions between the two
airlines and the share of the airline both companies would take,
Dow Jones notes.  BA will take 56% of the enlarged company, while
Iberia shareholders will own 44%, Dow Jones says.  Both sides
eventually agreed that BA's pension deficit should be ring-fenced
and that all contributions will be met by BA and not Iberia or the
merged airline, Dow Jones discloses.

Iberia has until the end of September to decide whether to accept
or walk away from a deal at a cost of EUR20 million breakup fee,
Dow Jones says.  According to Dow Jones, the deal includes BA
maintaining its annual pension contributions at the current level
of GBP330 million, and it will pay an agreed annual increase in
line with inflation expectations, averaging 3%.

                      About British Airways

Headquartered in Harmondsworth, England, British Airways Plc,
along with its subsidiaries, (LON:BAY) -- is
engaged in the operation of international and domestic scheduled
air services for the carriage of passengers, freight and mail and
the provision of ancillary services.  The Company's principal
place of business is Heathrow.  It also operates a worldwide air
cargo business, in conjunction with its scheduled passenger
services.  The Company operates international scheduled airline
route networks together with its codeshare and franchise partners,
and flies to more than 300 destinations worldwide.  During the
fiscal year ended March 31, 2009 (fiscal 2009), the Company
carried more than 33 million passengers.  It carried 777,000 tons
of cargo to destinations in Europe, the Americas and throughout
the world.  In July 2008, the Company's subsidiary, BA European
Limited (trading as OpenSkies), acquired the French airline,

                           *     *     *

As reported in the Troubled Company Reporter-Europe on March 19,
2010, Moody's Investors Service lowered to B1 from Ba3 the
Corporate Family and Probability of Default Ratings of British
Airways plc; and the senior unsecured and subordinate ratings to
B2 and B3, respectively.  Moody's said the outlook is stable.
This concludes the review that was initiated on November 10, 2009.
The rating action reflects Moody's view that credit metrics will
not be commensurate with the previous rating category in the
medium term.  Moody's expect furthermore that metrics will be
burdened in the foreseeable future by the company's significant
pension deficit, which was at GBP2.6 billion for the APS and NAPS
schemes combined as of September 2009 (under IAS).  Moody's
nevertheless understand that under the current agreement with the
trade unions, the cash contributions to these deficits will be
frozen at GBP330 million per year for three years, subject to
approval by the Pensions Regulator and the trustees.

CARTHOW LIMITED: In Administration; Owes Nearly GBP40 Million
Belfast Telegraph reports that Carthow Limited, formerly U4EA
Technologies, has gone into administration with debts of nearly
GBP40 million.

Citing figures filed in the High court in Bristol, the report says
there is only GBP250 left after GBP5 million was paid to "secured"
creditors such as banks and institutions.

According to the report, "secured" creditors, which include banks
and other financial institutions, originally submitted claims of
GBP21.3 million -- but when the administrators sought legal advice
they found that the firm had only given security for GBP5 million
(EUR6 million).  The report notes the documents reveal the
administrators have since received claims of GBP6.7 million from
U4EA Limited, GBP3.3 million from Padraig Harrington, brother of
Carthow director Columb Harrington, and GBP11.9 million from IIU
Nominees, Gibraltar-based businessman Dermot Desmond's investment

The Statement of Affairs shows that after paying banks and costs
there is nothing left for unsecured creditors, the report states.

Carthow Limited is a technology firm based in Bristol.

EPIC PLC: Fitch Downgrades Rating on Class D Notes to 'BB'
Fitch Ratings has downgraded Epic Plc's junior commercial
mortgage-backed floating-rate notes, due 2014, and affirmed the

  -- GBP227.7m class A (XS0201996369) affirmed at 'AAA'; Outlook

  -- GBP31.8m class B (XS0201997094) affirmed at 'AA'; Outlook

  -- GBP31.8m class C (XS0201997177) affirmed at 'A'; Outlook

  -- GBP29.9m class D (XS0201997250) downgraded to 'BB' from
     'BBB+'; Outlook Negative

The affirmation of the class A, B and C notes is driven by the
strong characteristics of the portfolio, which continues to
compare favorably with other single-borrower transactions by
virtue of its diversification by number of properties, property
type, tenant and geographical distribution.  The portfolio
comprises a range of institutional quality assets as well as some
more secondary properties, the majority of which are let on
relatively long unexpired lease terms.

Despite the quality of the portfolio and HGI's strong capacity as
an asset manager, vacancy has increased to 10% from 4% a year ago.
Furthermore, a decline in income of 4.3% on a like-for-like basis
has resulted in a decrease in the securitized loan's interest
coverage ratio, to 1.4x from 1.7x.  Given current difficult market
conditions, Fitch expects demand for sales and re-lettings to
remain relatively muted, particularly for those assets secondary
in nature.  These considerations have driven the downgrade of the
class D notes and their Negative Outlook.

The loan remains on the servicer's watchlist following the breach
of its whole loan LTV covenant in October 2008.  Fitch does not
anticipate the servicer (Hatfield Philips) will take enforcement
action against the borrower in response to this breach, as long as
rental income from the portfolio remains strong.  While the
borrower has convened investor meetings at which it has proposed
that the covenant breach be officially waived, it continues to
sell properties in order to reduce the LTV.

MAYBOURNE HOTEL: Nears GBP600 Million Debt Refinancing Deal
Philip Aldrick at The Daily Telegraph reports that Maybourne is
close to finalizing an emergency GBP600 million restructuring that
will see the private US property manager Westbrook Partners become
a leading investor in the group.

Maybourne, The Daily Telegraph notes, has until December to
refinance a GBP600 million loan from Anglo Irish Bank and Bank of
Ireland.  The group's backers, including Paddy McKillen, Derek
Quinlan and Riverdance creators John McColgan and Moya Doherty,
have been trying to arrange a refinancing for months with the help
of Deutsche Bank and Barclays, The Daily Telegraph recounts.

Westbrook and another US real estate trust are believed to have
agreed to take a GBP200 million equity stake as part of a larger
refinancing package, The Daily Telegraph says, citing a Sky
report.  The deal would see the two Irish banks fully repaid, The
Daily Telegraph discloses.

According to The Daily Telegraph, Maybourne is said to have
several options available but a deal with Westbrook is the most
advanced.  Middle East investors are thought to have expressed
interest in an outright purchase, The Daily Telegraph states.  The
current shareholders may also increase their stakes as part of the
refinancing, The Daily Telegraph says.

The Daily Telegraph relates a spokesman for Maybourne declined to
comment on the talks with Westbrook but told Sky: "Our refinancing
is in the final stages and we are not in a position to comment
until it is completed."

The Maybourne Hotel Group owns Claridges, the Connaught and the

RMAC SECURITIES: Fitch Affirms Ratings on Two Tranches at 'CC'
Fitch Ratings has affirmed 72 tranches from the RMAC Securities
Plc series of UK non-conforming transactions containing
residential mortgage loans originated by GMAC-RFC Limited.

The affirmations follow improved performance of the collateral
portfolios, in particular a reduction in the number of new
repossessions and, subsequently, the level of losses realized.
Fitch, however, remains cautious as to the future performance of
the transactions due to the large portion of loans that are
currently three or more months in arrears.  For this reason, in
combination with the unhedged basis risk between BBR and LIBOR for
the transactions and Fitch's expectation of further house price
declines, a number of junior tranches continue to have a Negative

In Fitch's opinion the decrease in interest rates at the beginning
of 2009 has resulted in the decrease and subsequent stabilization
of the number of borrowers in arrears within these transactions.
This has been a positive for the transactions as the cashflow for
each transaction has been more stable, and the number of new
repossession cases has reduced.  A current negative factor is the
level at which arrears have stabilized, which is much higher than
historical values.  This leaves a large potential pipeline of
borrowers who could be quickly affected if interest rates increase
or their personal circumstances change.

The limited increases in new repossessions have made it possible
for the transactions to absorb the current level of realized
losses without affecting ratings.  This has been easier for the
older vintage transactions from 2004 and 2005 which have
experienced some house price appreciation since the loans were
originated.  The more recent transactions do not have this
benefit; however, the level of excess spread is high enough to be
able to absorb the limited losses that are currently being
realized.  The effects of previously high levels of loss are still
being felt by the 2006 and 2007 vintage transactions as reserve
funds have been increasing back towards their target amounts.  For
2006-NS3 and 2007-NS1 the reserve fund is still below its target
level, and therefore the buffer to absorb any further shocks
remains limited.  Fitch has previously taken rating action on
junior tranches from these transactions and given the current
performance of the deals no further rating action is currently

Currently, all of these transactions have been breaching their
performance triggers for pro rata amortization, and in the 2006
and 2007 transactions have also prevented the reserve funds from
amortizing.  Although this will hinder accelerated paydown of the
junior notes, sequential paydown of the notes will allow further
credit enhancement growth and in particular benefit the senior
notes in these transactions.  Fitch currently expects these
triggers to remain in breach and therefore the transactions will
continue to pay the notes sequentially.

The rating actions are:

RMAC 2004-NS3 plc:

  -- Class A2a (ISIN XS0200800943): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A2c (ISIN XS0200802568): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M1 (ISIN XS0200802725): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M2 (ISIN XS0200803962): affirmed at 'A'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-2'

  -- Class B (ISIN XS0200804770): affirmed at 'BBB'; Outlook
     Negative; Loss Severity Rating 'LS-3'

RMAC 2004-NSP4 plc:

  -- Class A2 (ISIN XS0206944240): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M1 (ISIN XS0206944596): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M2 (ISIN XS0206944836): affirmed at 'AA'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-2'

  -- Class B1 (ISIN XS0206945056): affirmed at 'A'; Outlook
     Negative; revised Loss Severity Rating to 'LS-4' from 'LS-3'

RMAC 2005-NS1 plc:

  -- Class A2a (ISIN XS0212187826): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A2c (ISIN XS0212189103): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M1 (ISIN XS0212190028): affirmed at 'AA+'; Outlook
     Stable; revised Loss Severity Rating to 'LS-3' from 'LS-1'

  -- Class M2 (ISIN XS0212191851): affirmed at 'BBB'; Outlook
     Stable; revised Loss Severity Rating to 'LS-3' from 'LS-2'

  -- Class B1 (ISIN XS0212192669): affirmed at 'B'; Outlook
     Negative; revised Loss Severity Rating to 'LS-4' from 'LS-3'

RMAC 2005-NSP2 plc:

  -- Class A2a (ISIN XS0220953235): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A2b (ISIN XS0220954712): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A2c (ISIN XS0220957061): affirmed at 'AAA'.  Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M1a (ISIN XS0220957657): affirmed at 'AAA'.  Outlook
     Stable; revised Loss Severity Rating to 'LS-1' from 'LS-3'

  -- Class M1c (ISIN XS0220959356): affirmed at 'AAA'.  Outlook
     Stable; revised Loss Severity Rating to 'LS-1' from 'LS-3'

  -- Class M2a (ISIN XS0220958036): affirmed at 'A+'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class M2c (ISIN XS0220959604): affirmed at 'A+'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class B1a (ISIN XS0220958465): affirmed at 'BBB'; Outlook
     Negative; Loss Severity Rating 'LS-3'

  -- Class B1c (ISIN XS0220961097): affirmed at 'BBB'; Outlook
     Negative; Loss Severity Rating 'LS-3'

RMAC 2005-NS3 plc:

  -- Class A2a (ISIN XS0230220443): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A2c (ISIN XS0230220872): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M1a (ISIN XS0230221250): affirmed at 'AA+'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class M1c (ISIN XS0230221334): affirmed at 'AA+'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class M2a (ISIN XS0230221763): affirmed at 'A+'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class M2c (ISIN XS0230222068): affirmed at 'A+'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class B1a (ISIN XS0230222225): affirmed at 'BBB-'; Outlook
     Negative; Loss Severity Rating 'LS-3'

  -- Class B1c (ISIN XS0230222498): affirmed at 'BBB-'; Outlook
     Negative; Loss Severity Rating 'LS-3'

RMAC 2005-NS4 plc:

  -- Class A3 (ISIN XS0235775854): affirmed at 'AAA'; Outlook
     Stable; revised Loss Severity Rating to 'LS-1' from 'LS-3'

  -- Class M1 (ISIN XS0235781159): affirmed at 'AA+'; Outlook
     revised to Stable from Positive; revised Loss Severity Rating
     to 'LS-3' from 'LS-2'

  -- Class M2 (ISIN XS0235778106): affirmed at 'A+'; Outlook
     Stable; revised Loss Severity Rating to 'LS-3' from 'LS-4'

  -- Class B1 (ISIN XS0235782801): affirmed at 'BB'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-4'

RMAC Securities No.1 Plc (Series 2006-NS1):

  -- Class A2a (ISIN XS0248588047): affirmed at 'AAA'; Outlook
     Stable; revised Loss Severity Rating to 'LS-2' from 'LS-1' '

  -- Class A2c (ISIN XS0248595091): affirmed at 'AAA'; Outlook
     Stable; revised Loss Severity Rating to 'LS-3' from 'LS-1' '

  -- Class M1a (ISIN XS0248589524): affirmed at 'AA+'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class M1c (ISIN XS0248596735): affirmed at 'AA+'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class M2a (ISIN XS0248590613): affirmed at 'A'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class M2c (ISIN XS0248595687): affirmed at 'A'; Outlook
     Stable; Loss Severity Rating 'LS-3'

  -- Class B1c (ISIN XS0248597543): affirmed at 'BB'; Outlook
     Negative; Loss Severity Rating 'LS-3'

RMAC Securities No.1 Plc (Series 2006-NS2):

  -- Class A2a (ISIN XS0257367960): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A2c (ISIN XS0257369073): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M1a (ISIN XS0257369156): affirmed at 'AA+'; Outlook
     Stable; revised Loss Severity Rating to 'LS-3' from 'LS-1'

  -- Class M1c (ISIN XS0257370329): affirmed at 'AA+'; Outlook
     Stable; revised Loss Severity Rating to 'LS-3' from 'LS-2''

  -- Class M2c (ISIN XS0257371137): affirmed at 'A'; Outlook
     Negative; Loss Severity Rating 'LS-3'

  -- Class B1a (ISIN XS0257371301): affirmed at 'BB-'; Outlook
     Negative; Loss Severity Rating 'LS-3'

  -- Class B1c (ISIN XS0257372374): affirmed at 'BB-'; Outlook
     Negative; Loss Severity Rating 'LS-3'

RMAC Securities No.1 Plc (Series 2006-NS3):

  -- Class A2a (ISIN XS0268014353): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-2'

  -- Class M1a (ISIN XS0268021721): affirmed at 'A'; Outlook
     Negative; Loss Severity Rating 'LS-3'

  -- Class M1c (ISIN XS0268024071): affirmed at 'A'; Outlook
     Negative; Loss Severity Rating 'LS-3'

  -- Class M2c (ISIN XS0268027769): affirmed at 'BB'; Outlook
     Negative; Loss Severity Rating 'LS-4'

RMAC Securities No.1 Plc (Series 2006-NS4):

  -- Class A2a (ISIN XS0277404728): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A3a (ISIN XS0277409446): affirmed at 'AAA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class M1a (ISIN XS0277411004): affirmed at 'AA-'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-1'

  -- Class M1c (ISIN XS0277437223): affirmed at 'AA-'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-1'

  -- Class M2a (ISIN XS0277457841): affirmed at 'A-'; Outlook
     Negative; Loss Severity Rating 'LS-3'

  -- Class M2c (ISIN XS0277445671): affirmed at 'A-'; Outlook
     Negative; Loss Severity Rating 'LS-3'

  -- Class B1a (ISIN XS0277450838): affirmed at 'B'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-2'

  -- Class B1c (ISIN XS0277453691): affirmed at 'B'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-2'

RMAC Securities No.1 Plc (Series 2007-NS1):

  -- Class A1a (ISIN XS0307485903): affirmed at 'AA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A1b (ISIN XS0307488675): affirmed at 'AA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A1c (ISIN XS0307486976): affirmed at 'AA'; Outlook
     Stable; Loss Severity Rating 'LS-1'

  -- Class A2a (ISIN XS0307493162): affirmed at 'AA'; Outlook
     revised to Stable from Negative; Loss Severity Rating 'LS-1'

  -- Class A2b (ISIN XS0307489566): affirmed at 'AA'; Outlook
     revised to Stable from Negative; Loss Severity Rating 'LS-1'

  -- Class A2c (ISIN XS0307505601): affirmed at 'AA'; Outlook
     revised to Stable from Negative; Loss Severity Rating 'LS-1'

  -- Class M1a (ISIN XS0307496264): affirmed at 'BBB'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-2'

  -- Class M1c (ISIN XS0307506674): affirmed at 'BBB'; Outlook
     Negative; revised Loss Severity Rating to 'LS-3' from 'LS-2'

  -- Class M2c (ISIN XS0307511591): affirmed at 'B'; Outlook
     Negative; revised Loss Severity Rating to 'LS-4' from 'LS-3'

  -- Class B1a (ISIN XS0307500479): affirmed at 'CC'; Recovery
     Rating 'RR6'

  -- Class B1c (ISIN XS0307512219): affirmed at 'CC'; Recover
     Rating 'RR6'

SOUND TOO: In Administration; Joint Administrators Seek Buyer
Richard Smirke at reports that Sound Too Limited,
the operators of central London nightclub Sound, has been placed
into administration.

The report relates London-based Colin Wilson and Tim Dolder of RSM
Tenon and Edward Symmons LLP have been appointed joint
administrators of the company and are currently trying to find a
buyer for the 1,000 capacity venue, which is located in central
London's Leicester Square.

The report says Colin White, partner in the hospitality and
leisure division at Edward Symmons LLP, is being tasked to source
a purchaser for Sound.

The report notes in a statement Mr. White said he was "confident
that the future of Sound may yet be safeguarded" and that the club
will remain open while a buyer is sought.  According to the
report, he said that the administrators had already received "a
number of inquiries from a variety of established operators."

STEWART & MCKENNA: In Liquidation; Owes GBP78,000
Sunday Mail reports that Stewart & McKenna Ltd. has been put into
liquidation after failing to pay a tax bill of GBP78,000.

The report relates Buchanan Roxburgh was appointed as the
liquidator.  "We would appeal to any creditors to contact us," the
report quoted a Buchanan Roxburgh spokesman as saying.

Headquartered in Cambuslag, near Glasgow, Stewart & McKenna Ltd.
was a housebuilder run by property developers Allan Stewart and
Steve McKenna.

TOWER ARMS: Put Into Administration Following Shareholder Row
The Tower Arms, the historic public house in South Weald,
Brentwood, entered into administration on July 7, 2010.  Glyn
Mummery and Jeremy French, Partners at FRP Advisory LLP, the
restructuring, recovery and insolvency specialists, were appointed
Joint Administrators of the operating company, Tower Arms Limited.

The Tower Arms, a grade II listed building dating back to 1701
which re-opened following a full restoration and renovation
project in late 2009, was placed into administration following a
shareholder dispute.

The Joint Administrators have continued to operate the business as
normal, with the assistance of the Company Director, Louise Moore,
and there are no plans for it to close or for redundancies to be
made.  It is hoped that a resolution to the shareholder dispute
will be reached.

Commenting on the case, Glyn Mummery said: "The Tower Arms
continues to be profitable and things are very much business as
usual for customers and employees alike.  We hope to see control
handed back to the Directors of the Company and to see the
administration process come to an end."

* UK: Real Estate Sector Hardest Hit by Recession, R3 Says
Rachel Cooper at The Daily Telegraph, citing insolvency trade body
R3, reports that real estate and the hotel and restaurant industry
were among the biggest casualties of the recession.

According to the report, R3 found that real estate was the hardest
hit, with more than 12,000 insolvencies -- almost double the
number of insolvencies of the second-most affected sector,
construction, which had 7,184 insolvencies.  The wholesale and
retail sectors were the third-biggest casualty with 6,077
insolvencies as consumers cut back on non-essential spending, the
report says.

The report relates Frances Coulson, R3 vice-president, said the
decline in real estate massively outstripped that in any other and
was the first key sector to be hit by the recession.

To establish which sectors lost the most, R3 also compared the
number of insolvencies in each industry with the number of
enterprises within that sector before the recession began, the
report discloses.  It found that the hotel and restaurant industry
suffered the most with 1.7% of enterprises -- close to two in
every hundred -- becoming insolvent during the recession as
consumers tightened their belts and businesses cut back, the
report notes.

* UK: House of Lords Probes Big Four's Role in Financial Crisis
Rachel Sanderson at The Financial Times reports that the UK's
House of Lords launched a review into the Big Four accountants'
role in the financial crisis.

The FT says the market concentration of auditors PwC, Ernst &
Young, KPMG and Deloitte, which audit most of the world's biggest
companies, has been a matter of concern for regulators and
politicians since the collapse of Arthur Andersen in 2003.  But
the debate is gaining renewed momentum in the US and Europe in the
wake of the financial crisis amid questions whether the Big Four
could have done more to alert investors about the risks in the
banking system, and what effect any lack of competition might have
had, the FT notes.

The FT relates the latest inquiry, by the influential Lords'
economic affairs committee, follows criticism of auditors this
month by the Financial Services Authority, the UK banking
regulator, which said they fell "far short" of the expectations of
regulators by showing a "worrying lack of skepticism" in some of
their audits of financial institutions in the run-up to the
financial crisis.

In a wide-ranging inquiry, the House of Lords committee will
explore concerns that market domination by a small number of firms
damages competition and reduces choice in the audit market, the FT

The committee will make its recommendations to parliament later
this year, the FT discloses.

* UK: Few Passengers Consider Airline Insolvency, Poll Shows
Only a tiny number of air passengers think about the possibility
of their airline going bust when booking a ticket, The Press
Association reports, citing a poll commissioned by the Air
Transport Users Council.

According to the report, the poll revealed that just five of 2,072
people polled mentioned airline insolvency when asked to list
considerations when booking.

Also, 30% did not know if their last flight had been financially
protected or not and 34% did not know if their last travel
insurance policy included financial protection, the report says.

"Only five respondents mentioned the risk of an airline going
bust.  This was despite respondents, when asked, generally
considering it was important that travel arrangements were
financially protected and only 8% of them saying that they would
definitely not pay to be protected," the report quoted AUC
chairman Tina Tietjen as saying.  "We have previously called for
Government to introduce a universal protection scheme against the
failure of scheduled airlines.  We have suggested it be along the
lines of the Air Travel Operators' Licensing (Atol) scheme for
tour operators."


* Large Companies with Insolvent Balance Sheet

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

CHRIST WATER TEC        CWT AV        -5754287.761   165995618.1
CHRIST WATER TEC        C7W GR        -5754287.761   165995618.1
CHRIST WATER TEC        CWT PZ        -5754287.761   165995618.1
CHRIST WATER TEC        CWT EU        -5754287.761   165995618.1
CHRIST WATER TEC        CRSWF US      -5754287.761   165995618.1
CHRIST WATER TEC        CWT EO        -5754287.761   165995618.1
CHRIST WATER TEC        CWTE IX       -5754287.761   165995618.1
CHRIST WATER-ADR        CRSWY US      -5754287.761   165995618.1
KA FINANZ AG            3730Z AV        -359597327   30679270533
LIBRO AG                LBROF US        -109013328   171684389.1
LIBRO AG                LB6 GR          -109013328   171684389.1
LIBRO AG                LIB AV          -109013328   171684389.1
LIBRO AG                LIBR AV         -109013328   171684389.1
SKYEUROPE               SKYP PW       -89480486.93   159076577.5
SKYEUROPE               SKY PW        -89480486.93   159076577.5
SKYEUROPE HLDG          SKY LI        -89480486.93   159076577.5
SKYEUROPE HLDG          SKY EO        -89480486.93   159076577.5
SKYEUROPE HLDG          SKYA PZ       -89480486.93   159076577.5
SKYEUROPE HLDG          SKY EU        -89480486.93   159076577.5
SKYEUROPE HLDG          SKY AV        -89480486.93   159076577.5
SKYEUROPE HLDG          S8E GR        -89480486.93   159076577.5
SKYEUROPE HLDG          SKURF US      -89480486.93   159076577.5
SKYEUROPE HLDG          SKYPLN EO     -89480486.93   159076577.5
SKYEUROPE HLDG          SKYV IX       -89480486.93   159076577.5
SKYEUROPE HLDG          SKYPLN EU     -89480486.93   159076577.5
SKYEUROPE HOL-RT        SK1 AV        -89480486.93   159076577.5
STYROL HOLDING 1        3321155Z AV   -69327699.53    1925984640

SABENA SA               SABA BB       -84766501.61    2196477161

BRODOGRADE INDUS        3MAJRA CZ     -464934142.4   272013070.7
IPK OSIJEK DD OS        IPKORA CZ     -32978857.72   151587609.9
MAGMA DD                MGMARA CZ     -764475.9867   141322122.7
OT OPTIMA TELEKO        2299892Z CZ   -69895909.13   116266542.5
OT-OPTIMA TELEKO        OPTERA CZ     -69895909.13   116266542.5
VUPIK DD                VPIKRA CZ     -8861479.441   112509976.8

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          LHGCYP EU      -27821889.5     240947718
LIBRA HOLIDAYS          LHGR CY        -27821889.5     240947718
LIBRA HOLIDAYS          LHGCYP EO      -27821889.5     240947718
LIBRA HOLIDAYS G        LHG EO         -27821889.5     240947718
LIBRA HOLIDAYS G        LHG PZ         -27821889.5     240947718
LIBRA HOLIDAYS G        LHG EU         -27821889.5     240947718
LIBRA HOLIDAYS G        LHG CY         -27821889.5     240947718
LIBRA HOLIDAYS-P        LBHG CY        -27821889.5     240947718
LIBRA HOLIDAYS-P        LBHG PZ        -27821889.5     240947718
URALS ENERGY PUB        UREYF US        -107167000     889168000
URALS ENERGY PUB        UEN EO          -107167000     889168000
URALS ENERGY PUB        UEN IX          -107167000     889168000
URALS ENERGY PUB        U5S TH          -107167000     889168000
URALS ENERGY PUB        UENEUR EO       -107167000     889168000
URALS ENERGY PUB        UEN PZ          -107167000     889168000
URALS ENERGY PUB        UEN EU          -107167000     889168000
URALS ENERGY PUB        UEN PG          -107167000     889168000
URALS ENERGY PUB        U5S GR          -107167000     889168000
URALS ENERGY PUB        UEN LN          -107167000     889168000
URALS ENERGY PUB        UENGBP EO       -107167000     889168000

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

ELITE SHIPPING          ELSP DC       -27715991.74   100892900.3
ISS GLOBAL A/S          241863Z DC    -2811647.728    7972333363
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           ROSKF US      -532868894.9    7876687324
ROSKILDE BANK           ROSK EU       -532868894.9    7876687324
ROSKILDE BANK           ROSK PZ       -532868894.9    7876687324
ROSKILDE BANK           RKI GR        -532868894.9    7876687324
ROSKILDE BANK           ROSBF US      -532868894.9    7876687324
ROSKILDE BANK           RSKC IX       -532868894.9    7876687324
ROSKILDE BANK           ROSK EO       -532868894.9    7876687324
ROSKILDE BANK           ROSK DC       -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
SANISTAL AS-B           SNISF US      -1029838.038   546820905.2
SANISTAL AS-B           SANIB EU      -1029838.038   546820905.2
SANISTAL AS-B           SANL DC       -1029838.038   546820905.2
SANISTAL AS-B           SANIBEUR EU   -1029838.038   546820905.2
SANISTAL AS-B           SANI/B PZ     -1029838.038   546820905.2
SANISTAL AS-B           SANIB EO      -1029838.038   546820905.2
SANISTAL AS-B           SNSC IX       -1029838.038   546820905.2
SANISTAL AS-B           SANIB BY      -1029838.038   546820905.2
SANISTAL AS-B           SANIBEUR EO   -1029838.038   546820905.2
SANISTAL AS-B           SANIB DC      -1029838.038   546820905.2
SANISTAL-B NEW          SANLN DC      -1029838.038   546820905.2
SCANDINAVIAN BRA        SBS1EUR EO    -18360748.78   147485890.1
SCANDINAVIAN BRA        SBSD PZ       -18360748.78   147485890.1
SCANDINAVIAN BRA        SBS1 BY       -18360748.78   147485890.1
SCANDINAVIAN BRA        SBS1 EU       -18360748.78   147485890.1
SCANDINAVIAN BRA        SBSC IX       -18360748.78   147485890.1
SCANDINAVIAN BRA        SBS DC        -18360748.78   147485890.1
SCANDINAVIAN BRA        SBS1EUR EU    -18360748.78   147485890.1
SCANDINAVIAN BRA        SBS1 EO       -18360748.78   147485890.1

BELVEDERE - RTS         702036Q FP    -240506200.5    1000204586
BELVEDERE - RTS         554451Q FP    -240506200.5    1000204586
BELVEDERE SA            BELV NM       -240506200.5    1000204586
BELVEDERE SA            BED GR        -240506200.5    1000204586
BELVEDERE SA            BELV FP       -240506200.5    1000204586
BELVEDERE SA            BVD EU        -240506200.5    1000204586
BELVEDERE SA            BEVD IX       -240506200.5    1000204586
BELVEDERE SA            BVD EO        -240506200.5    1000204586
BELVEDERE SA            BVD PZ        -240506200.5    1000204586
BELVEDERE SA            BED TH        -240506200.5    1000204586
BELVEDERE SA            BVDRF US      -240506200.5    1000204586
BELVEDERE SA            BVD FP        -240506200.5    1000204586
BELVEDERE SA-NEW        BVDNV FP      -240506200.5    1000204586
BELVEDERE SA-NEW        946529Q FP    -240506200.5    1000204586
BELVEDERE SA-RTS        BVDDS FP      -240506200.5    1000204586
CADES                   211430Z FP       -1.32E+11    9983888303
CARRERE GROUP           CAR FP        -9829592.638     279906700
CARRERE GROUP           CRGP IX       -9829592.638     279906700
CARRERE GROUP           CARF PZ       -9829592.638     279906700
CARRERE GROUP           XRR GR        -9829592.638     279906700
CARRERE GROUP           CAR2 EO       -9829592.638     279906700
CARRERE GROUP           CAR2 EU       -9829592.638     279906700
CARRERE GROUP           CARG FP       -9829592.638     279906700
CARRERE GROUP           CRRHF US      -9829592.638     279906700
CHAINE ET TRAME         CTRM FP       -58947458.16   116889783.9
CHAINE ET TRAME         CHTR FP       -58947458.16   116889783.9
GRANDE PAROISSE         GDPXF US      -927267926.9     629287290
GRANDE PAROISSE         GAPA FP       -927267926.9     629287290
GRANDE PAROISSE         GDPA FP       -927267926.9     629287290
LAB DOLISOS             DOLI FP       -27752176.19   110485462.4
LAB DOLISOS             LADL FP       -27752176.19   110485462.4
MATUSSIERE & FOR        MTUSF US      -77896683.67   293868350.8
MATUSSIERE & FOR        1007765Q FP   -77896683.67   293868350.8
MB RETAIL EUROPE        MBRE FP       -58947458.16   116889783.9
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 PZ       -58947458.16   116889783.9
OROSDI                  OROS FP       -35006822.54   151870593.9
OROSDI-BACK             ORBA FP       -35006822.54   151870593.9
OROSDI-BACK             OROS PZ       -35006822.54   151870593.9
OROSDI-BACK             OROS EU       -35006822.54   151870593.9
OROSDI-BACK             OROS EO       -35006822.54   151870593.9
OROSDI-BACK             BACK IX       -35006822.54   151870593.9
PAGESJAUNES GRP         PAJ PZ         -3171655188    1168738032
PAGESJAUNES GRP         PAJ EB         -3171655188    1168738032
PAGESJAUNES GRP         PAJ BQ         -3171655188    1168738032
PAGESJAUNES GRP         PAJ TQ         -3171655188    1168738032
PAGESJAUNES GRP         PAJUSD EU      -3171655188    1168738032
PAGESJAUNES GRP         PAJ NQ         -3171655188    1168738032
PAGESJAUNES GRP         PAJ QM         -3171655188    1168738032
PAGESJAUNES GRP         PGJUF US       -3171655188    1168738032
PAGESJAUNES GRP         QS3 GR         -3171655188    1168738032
PAGESJAUNES GRP         PAJ FP         -3171655188    1168738032
PAGESJAUNES GRP         PAJ VX         -3171655188    1168738032
PAGESJAUNES GRP         PAJUSD EO      -3171655188    1168738032
PAGESJAUNES GRP         PAJ IX         -3171655188    1168738032
PAGESJAUNES GRP         PAJ EU         -3171655188    1168738032
PAGESJAUNES GRP         PAJ LI         -3171655188    1168738032
PAGESJAUNES GRP         PAJ GK         -3171655188    1168738032
PAGESJAUNES GRP         PAJ EO         -3171655188    1168738032
PAGESJAUNES GRP         PAJGBX EU      -3171655188    1168738032
PAGESJAUNES GRP         PAJGBP EO      -3171655188    1168738032
PAGESJAUNES GRP         PAJGBX EO      -3171655188    1168738032
PAGESJAUNES GRP         QS3 TH         -3171655188    1168738032
PAGESJAUNES GRP         PAJP IX        -3171655188    1168738032
RESEAU FERRE FRA        224063Z FP     -2138499667   66039422175
RHODIA SA               RHA QM        -883734308.8    6075165782
RHODIA SA               RHDAF US      -883734308.8    6075165782
RHODIA SA               2324011Q EU   -883734308.8    6075165782
RHODIA SA               RHA NQ        -883734308.8    6075165782
RHODIA SA               RHAGBX EO     -883734308.8    6075165782
RHODIA SA               RHANR PZ      -883734308.8    6075165782
RHODIA SA               RHAUSD EU     -883734308.8    6075165782
RHODIA SA               RHA EB        -883734308.8    6075165782
RHODIA SA               RHA TQ        -883734308.8    6075165782
RHODIA SA               RHD GR        -883734308.8    6075165782
RHODIA SA               RHADF US      -883734308.8    6075165782
RHODIA SA               RHAGBP EO     -883734308.8    6075165782
RHODIA SA               3218857Q IX   -883734308.8    6075165782
RHODIA SA               2324015Q EO   -883734308.8    6075165782
RHODIA SA               RHA VX        -883734308.8    6075165782
RHODIA SA               RHAGBX EU     -883734308.8    6075165782
RHODIA SA               RHA EU        -883734308.8    6075165782
RHODIA SA               RHA GK        -883734308.8    6075165782
RHODIA SA               RHDI TH       -883734308.8    6075165782
RHODIA SA               RHAY IX       -883734308.8    6075165782
RHODIA SA               RHA BQ        -883734308.8    6075165782
RHODIA SA               RHAUSD EO     -883734308.8    6075165782
RHODIA SA               RHA FP        -883734308.8    6075165782
RHODIA SA               RHA EO        -883734308.8    6075165782
RHODIA SA               RHDI GR       -883734308.8    6075165782
RHODIA SA               RHA IX        -883734308.8    6075165782
RHODIA SA               RHA PZ        -883734308.8    6075165782
RHODIA SA - NEW         RHANV FP      -883734308.8    6075165782
RHODIA SA - NEW         2335921Q FP   -883734308.8    6075165782
RHODIA SA - NEW         3156011Q FP   -883734308.8    6075165782
RHODIA SA - NEW         3506266Q FP   -883734308.8    6075165782
RHODIA SA-ADR           RHAYY US      -883734308.8    6075165782
RHODIA SA-NON RE        RHANR FP      -883734308.8    6075165782
RHODIA SA-RIGHTS        653447Q FP    -883734308.8    6075165782
RHODIA SA-RIGHTS        RHADS FP      -883734308.8    6075165782
RODIGUEZ GROUP          RGX GR        -71997955.94   457127473.1
RODRIGUEZ GROUP         ROD EU        -71997955.94   457127473.1
RODRIGUEZ GROUP         ROD BQ        -71997955.94   457127473.1
RODRIGUEZ GROUP         RRGZF US      -71997955.94   457127473.1
RODRIGUEZ GROUP         RDGP IX       -71997955.94   457127473.1
RODRIGUEZ GROUP         ROD TQ        -71997955.94   457127473.1
RODRIGUEZ GROUP         ROD EO        -71997955.94   457127473.1
RODRIGUEZ GROUP         ROD FP        -71997955.94   457127473.1
RODRIGUEZ GROUP         ROD PZ        -71997955.94   457127473.1
SDR CENTREST            117241Q FP    -132420119.6   252176017.2
SOBIESKI                BVD PW        -240506200.5    1000204586
TROUVAY CAUVIN          ETEC FP       -396977.9956   133986439.7
TROUVAY CAUVIN          TVYCF US      -396977.9956   133986439.7

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

AGOR AG                 DOO GR        -482446.6262   144432986.2
AGOR AG                 NDAGF US      -482446.6262   144432986.2
AGOR AG                 DOOG IX       -482446.6262   144432986.2
AGOR AG                 DOOD PZ       -482446.6262   144432986.2
AGOR AG                 DOO EU        -482446.6262   144432986.2
AGOR AG                 DOO EO        -482446.6262   144432986.2
AGOR AG-RTS             2301918Z GR   -482446.6262   144432986.2
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                 ANO EO        -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               BRKAF US      -27139391.98   143536859.7
BROKAT AG               BROAF 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 NM        -27139391.98   143536859.7
BROKAT TECH AG          BRJ GR        -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          COB GR        -42994732.85   904723627.8
CBB HOLDING AG          COBG IX       -42994732.85   904723627.8
CBB HOLDING AG          CUBDF US      -42994732.85   904723627.8
CBB HOLDING AG          COB2 EU       -42994732.85   904723627.8
CBB HOLDING AG          COB2 EO       -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             MXCUSD EU     -14445849.72   194465786.9
CINEMAXX AG             MXC PZ        -14445849.72   194465786.9
CINEMAXX AG             MXC GR        -14445849.72   194465786.9
CINEMAXX AG             CNEMF US      -14445849.72   194465786.9
CINEMAXX AG             MXC EO        -14445849.72   194465786.9
CINEMAXX AG             MXC TH        -14445849.72   194465786.9
CINEMAXX AG             MXCG IX       -14445849.72   194465786.9
CINEMAXX AG             MXCUSD EO     -14445849.72   194465786.9
CINEMAXX AG             MXC EU        -14445849.72   194465786.9
CINEMAXX AG-RTS         MXC8 GR       -14445849.72   194465786.9
COGNIS GMBH             575202Z GR     -1092037449    3081208210
COGNIS HOLDING G        635952Z GR     -1587896974    2850475613
DORT ACTIEN-BRAU        944167Q GR    -12689156.29   117537053.7
DORT ACTIEN-RTS         DAB8 GR       -12689156.29   117537053.7
EDOB ABWICKLUNGS        ESC GR        -22323463.23   425598807.8
EDOB ABWICKLUNGS        ESC TH        -22323463.23   425598807.8
EDOB ABWICKLUNGS        ESC EU        -22323463.23   425598807.8
EDOB ABWICKLUNGS        ESC PZ        -22323463.23   425598807.8
EDOB ABWICKLUNGS        ESC TQ        -22323463.23   425598807.8
EDOB ABWICKLUNGS        ESCDF US      -22323463.23   425598807.8
EDOB ABWICKLUNGS        ESC EO        -22323463.23   425598807.8
EDOB ABWICKLUNGS        ESC BQ        -22323463.23   425598807.8
EM.TV & MERCHAND        ETVMF US      -22067409.41   849175624.7
EM.TV & MERCHAND        ETV LN        -22067409.41   849175624.7
EM.TV & MERCHAND        985403Q GR    -22067409.41   849175624.7
EM.TV & MERCHAND        ETV VX        -22067409.41   849175624.7
EM.TV & MERCHAND        EMTVF US      -22067409.41   849175624.7
EM.TV & MERCHAND        ETV NM        -22067409.41   849175624.7
EM.TV & MERC-NEW        ETV1 GR       -22067409.41   849175624.7
EM.TV & MERC-NEW        ETV1 NM       -22067409.41   849175624.7
EM.TV & MERC-RTS        ETV8 NM       -22067409.41   849175624.7
EM.TV & MERC-RTS        ETV8 GR       -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 EO       -22323463.23   425598807.8
ESCADA AG-NEW           835345Q GR    -22323463.23   425598807.8
ESCADA AG-NEW           ESCD GR       -22323463.23   425598807.8
ESCADA AG-NEW           ESCN EU       -22323463.23   425598807.8
ESCADA AG-NEW           ESCN GR       -22323463.23   425598807.8
ESCADA AG-NEW           ESCC GR       -22323463.23   425598807.8
ESCADA AG-NEW           3069367Q 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        KD8 TH         -2169306511    3201326467
KABEL DEUTSCHLAN        KD8GBP EO      -2169306511    3201326467
KABEL DEUTSCHLAN        KD8 EB         -2169306511    3201326467
KABEL DEUTSCHLAN        KD8 EU         -2169306511    3201326467
KABEL DEUTSCHLAN        KD8 GR         -2169306511    3201326467
KABEL DEUTSCHLAN        KD8 NR         -2169306511    3201326467
KABEL DEUTSCHLAN        KD8 BQ         -2169306511    3201326467
KABEL DEUTSCHLAN        KD8USD EU      -2169306511    3201326467
KABEL DEUTSCHLAN        KD8 EO         -2169306511    3201326467
KABEL DEUTSCHLAN        KD8 IX         -2169306511    3201326467
KABEL DEUTSCHLAN        KD8USD EO      -2169306511    3201326467
KAUFRING AG             KFR PZ        -19296489.56   150995473.8
KAUFRING AG             KFR EU        -19296489.56   150995473.8
KAUFRING AG             KFR EO        -19296489.56   150995473.8
KAUFRING AG             KFR GR        -19296489.56   150995473.8
KAUFRING AG             KAUG IX       -19296489.56   150995473.8
LLOYD FONDS AG          L1O TH         -1314098.03   141766952.6
LLOYD FONDS AG          L1O GR         -1314098.03   141766952.6
LLOYD FONDS AG          L1O PZ         -1314098.03   141766952.6
LLOYD FONDS AG          LLOG IX        -1314098.03   141766952.6
LLOYD FONDS AG          L1O EO         -1314098.03   141766952.6
LLOYD FONDS AG          L1O EU         -1314098.03   141766952.6
LLOYD FONDS AG          L10 BQ         -1314098.03   141766952.6
LLOYD FONDS AG          L1O TQ         -1314098.03   141766952.6
MANIA TECHNOLOGI        MNI GR         -35060806.5   107465713.6
MANIA TECHNOLOGI        MNI PZ         -35060806.5   107465713.6
MANIA TECHNOLOGI        MNI1 EU        -35060806.5   107465713.6
MANIA TECHNOLOGI        MIAVF US       -35060806.5   107465713.6
MANIA TECHNOLOGI        MNI NM         -35060806.5   107465713.6
MANIA TECHNOLOGI        MNIG IX        -35060806.5   107465713.6
MANIA TECHNOLOGI        MNI1 EO        -35060806.5   107465713.6
MANIA TECHNOLOGI        2260970Z GR    -35060806.5   107465713.6
MATERNUS KLINI-N        MAK1 GR       -16232020.37     171958727
MATERNUS-KLINIKE        MNUKF US      -16232020.37     171958727
MATERNUS-KLINIKE        MAK EO        -16232020.37     171958727
MATERNUS-KLINIKE        MAK GR        -16232020.37     171958727
MATERNUS-KLINIKE        MAK PZ        -16232020.37     171958727
MATERNUS-KLINIKE        MAKG IX       -16232020.37     171958727
MATERNUS-KLINIKE        MAK EU        -16232020.37     171958727
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 EU        -18656728.68   610380925.7
PRIMACOM AG             PRCG PZ       -18656728.68   610380925.7
PRIMACOM AG             PRC TH        -18656728.68   610380925.7
PRIMACOM AG             PRC2 GR       -18656728.68   610380925.7
PRIMACOM AG             PRC GR        -18656728.68   610380925.7
PRIMACOM AG             PCAGF US      -18656728.68   610380925.7
PRIMACOM AG             PRCG IX       -18656728.68   610380925.7
PRIMACOM AG             PRC EO        -18656728.68   610380925.7
PRIMACOM AG             PRC NM        -18656728.68   610380925.7
PRIMACOM AG-ADR         PCAG US       -18656728.68   610380925.7
PRIMACOM AG-ADR         PCAGY US      -18656728.68   610380925.7
PRIMACOM AG-ADR+        PCAG ES       -18656728.68   610380925.7
RAG ABWICKL-REG         ROS1 EO       -1744121.914   217776125.8
RAG ABWICKL-REG         ROS GR        -1744121.914   217776125.8
RAG ABWICKL-REG         ROSG PZ       -1744121.914   217776125.8
RAG ABWICKL-REG         RSTHF US      -1744121.914   217776125.8
RAG ABWICKL-REG         ROS1 EU       -1744121.914   217776125.8
RINOL AG                RILB PZ            -2.7111   168095049.1
RINOL AG                RILB IX            -2.7111   168095049.1
RINOL AG                RIL GR             -2.7111   168095049.1
RINOL AG                RNLAF US           -2.7111   168095049.1
RINOL AG                RILB EU            -2.7111   168095049.1
RINOL AG                RILB GR            -2.7111   168095049.1
RINOL AG                RILB EO            -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         SAD GR        -6153256.917   127546738.8
SANDER (JIL) AG         JLSDF US      -6153256.917   127546738.8
SANDER (JIL)-PRF        2916157Q EU   -6153256.917   127546738.8
SANDER (JIL)-PRF        2916161Q EO   -6153256.917   127546738.8
SANDER (JIL)-PRF        SAD3 GR       -6153256.917   127546738.8
SANDER (JIL)-PRF        SAD3 PZ       -6153256.917   127546738.8
SINNLEFFERS AG          WHG GR        -4491629.961   453887060.1
SPAR HANDELS-AG         SPHFF US      -442426199.5    1433020961
SPAR HANDELS-AG         773844Q GR    -442426199.5    1433020961
SPAR HAND-PFD NV        SPA3 GR       -442426199.5    1433020961
SPRINGER SCIENCE        648808Z GR    -610692611.7    3462165070
STROER OUT-OF-HO        SAX EO        -62153916.21    1072778885
STROER OUT-OF-HO        SAX GR        -62153916.21    1072778885
TA TRIUMPH-ACQ          TWNA GR       -124667889.5   375247226.8
TA TRIUMPH-ACQ          TWNA EU       -124667889.5   375247226.8
TA TRIUMPH-ADLER        TWN EO        -124667889.5   375247226.8
TA TRIUMPH-ADLER        TTZAF US      -124667889.5   375247226.8
TA TRIUMPH-ADLER        TWN PZ        -124667889.5   375247226.8
TA TRIUMPH-ADLER        TWNG IX       -124667889.5   375247226.8
TA TRIUMPH-ADLER        TWN EU        -124667889.5   375247226.8
TA TRIUMPH-ADLER        TWN GR        -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
TOM TAILOR HOLD         TTI GR        -97711555.56     358434780
TOM TAILOR HOLD         TTI TH        -97711555.56     358434780
TOM TAILOR HOLD         TTI EU        -97711555.56     358434780
TOM TAILOR HOLD         TTI EO        -97711555.56     358434780
VIVANCO GRUPPE          VVA1 GR       -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          VIVGF US      -22198683.12   111990951.4
VIVANCO GRUPPE          VVA1 PZ       -22198683.12   111990951.4
VIVANCO GRUPPE          VVA1 EU       -22198683.12   111990951.4

AG PETZETAKIS SA        PETZK PZ      -53415175.25     227965558
AG PETZETAKIS SA        PETZK GA      -53415175.25     227965558
AG PETZETAKIS SA        PZETF US      -53415175.25     227965558
AG PETZETAKIS SA        PETZK EU      -53415175.25     227965558
AG PETZETAKIS SA        PTZ1 GR       -53415175.25     227965558
AG PETZETAKIS SA        PTZ GR        -53415175.25     227965558
AG PETZETAKIS SA        PETZK EO      -53415175.25     227965558
ALTEC SA -AUCT          ALTECE GA     -48733007.42   131910486.6
ALTEC SA INFO           ALTEC PZ      -48733007.42   131910486.6
ALTEC SA INFO           ATCQF US      -48733007.42   131910486.6
ALTEC SA INFO           AXY GR        -48733007.42   131910486.6
ALTEC SA INFO           ALTEC GA      -48733007.42   131910486.6
ALTEC SA INFO           ALTEC EO      -48733007.42   131910486.6
ALTEC SA INFO           ALTEC EU      -48733007.42   131910486.6
ALTEC SA INFO-RT        ALTECR GA     -48733007.42   131910486.6
ALTEC SA INFO-RT        ALTED GA      -48733007.42   131910486.6
ASPIS PRONIA GE         ASASK PZ      -189908329.1   896537349.7
ASPIS PRONIA GE         ASASK EO      -189908329.1   896537349.7
ASPIS PRONIA GE         ASASK GA      -189908329.1   896537349.7
ASPIS PRONIA GE         ASASK EU      -189908329.1   896537349.7
ASPIS PRONIA GE         AISQF US      -189908329.1   896537349.7
ASPIS PRONIA -PF        ASAPR GA      -189908329.1   896537349.7
ASPIS PRONIA-PF         ASASP GA      -189908329.1   896537349.7
ASPIS PRONIA-PF         APGV GR       -189908329.1   896537349.7
ASPIS PRONIA-RT         ASASKR GA     -189908329.1   896537349.7
ASPIS PRONOIA GE        APG GR        -189908329.1   896537349.7
ASPIS PRONOIA GE        APGG IX       -189908329.1   896537349.7
ASPIS PRON-PF RT        ASASPR GA     -189908329.1   896537349.7
EMPEDOS SA              EMPED GA      -33637669.62   174742646.9
EMPEDOS SA-RTS          EMPEDR GA     -33637669.62   174742646.9
KOUMBAS INSUR-RT        KOUMD GA       -62534014.1   194685439.4
KOUMBAS RTS             KOUMR GA       -62534014.1   194685439.4
KOUMBAS SYNERGY         KOUM EO        -62534014.1   194685439.4
KOUMBAS SYNERGY         KOUM PZ        -62534014.1   194685439.4
KOUMBAS SYNERGY         KOUM GA        -62534014.1   194685439.4
KOUMBAS SYNERGY         KOUMF US       -62534014.1   194685439.4
KOUMBAS SYNERGY         KOUM EU        -62534014.1   194685439.4
NAOUSSA SPIN -RT        NAOYD GA      -163114853.6   286539436.9
NAOUSSA SPIN-AUC        NAOYKE GA     -163114853.6   286539436.9
NAOUSSA SPINNING        NML1 GR       -163114853.6   286539436.9
NAOUSSA SPINNING        NML GR        -163114853.6   286539436.9
NAOUSSA SPIN-RTS        NAOYKR GA     -163114853.6   286539436.9
OASA ATHENS URBA        3485398Z GA    -1170161374    2292452052
PETZET - PFD-RTS        PETZPD GA     -53415175.25     227965558
PETZETAKIS - RTS        PETZKD GA     -53415175.25     227965558
PETZETAKIS-AUC          PETZKE GA     -53415175.25     227965558
PETZETAKIS-PFD          PETZP GA      -53415175.25     227965558
PETZETAKIS-PFD          PTZ3 GR       -53415175.25     227965558
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        THEMED GA     -55751178.85   232036822.6
THEMELIODOMI-RTS        THEMER GA     -55751178.85   232036822.6
UNITED TEXTILES         UTEX EU       -163114853.6   286539436.9
UNITED TEXTILES         UTEX GA       -163114853.6   286539436.9
UNITED TEXTILES         NAOSF US      -163114853.6   286539436.9
UNITED TEXTILES         NAOYK GA      -163114853.6   286539436.9
UNITED TEXTILES         UTEX EO       -163114853.6   286539436.9
UNITED TEXTILES         UTEX PZ       -163114853.6   286539436.9

HUNGARIAN TELEPH        HUGC IX          -73724000     827192000
HUNGARIAN TELEPH        HUC GR           -73724000     827192000
HUNGARIAN TELEPH        HUC EX           -73724000     827192000
INVITEL HOLD-ADR        IHO US           -73724000     827192000
INVITEL HOLD-ADR        INVHY US         -73724000     827192000
INVITEL HOLD-ADR        0IN GR           -73724000     827192000
INVITEL HOLDINGS        3212873Z HB      -73724000     827192000
MALEV LTD               MALEV HB       -75737819.4   251668964.4

BOUNDARY CAPITAL        BCP1 EO       -10192301.85   119787800.5
BOUNDARY CAPITAL        BCP1 PZ       -10192301.85   119787800.5
BOUNDARY CAPITAL        BCP1 PG       -10192301.85   119787800.5
BOUNDARY CAPITAL        BCP IX        -10192301.85   119787800.5
BOUNDARY CAPITAL        BCP ID        -10192301.85   119787800.5
BOUNDARY CAPITAL        BCP1 EU       -10192301.85   119787800.5
BOUNDARY CAPITAL        BCM GR        -10192301.85   119787800.5
BOUNDARY CAPITAL        BCPI IX       -10192301.85   119787800.5
BOUNDARY CAPITAL        BCP LN        -10192301.85   119787800.5
IBERBOND 2004 PL        3485334Z ID   -774220.0848   539890478.9
JAMES HARDIE IND        HAH AU          -117900000    2178800128
JAMES HARDIE IND        HAH NZ          -117900000    2178800128
JAMES HARDIE IND        600241Q GR      -117900000    2178800128
JAMES HARDIE IND        726824Z NA      -117900000    2178800128
JAMES HARDIE NV         JHXCC AU        -117900000    2178800128
JAMES HARDIE-ADR        JHINY US        -117900000    2178800128
JAMES HARDIE-ADR        JHX US          -117900000    2178800128
JAMES HARDIE-CDI        JHIUF US        -117900000    2178800128
JAMES HARDIE-CDI        JHA TH          -117900000    2178800128
JAMES HARDIE-CDI        JHX AU          -117900000    2178800128
JAMES HARDIE-CDI        JHA GR          -117900000    2178800128
MCINERNEY HLDGS         MCI EU        -132691148.8   374303706.5
MCINERNEY HLDGS         MK9C PZ       -132691148.8   374303706.5
MCINERNEY HLDGS         MCIGBX EO     -132691148.8   374303706.5
MCINERNEY HLDGS         MCI IX        -132691148.8   374303706.5
MCINERNEY HLDGS         MK9 GR        -132691148.8   374303706.5
MCINERNEY HLDGS         MCIGBX EU     -132691148.8   374303706.5
MCINERNEY HLDGS         MCII IX       -132691148.8   374303706.5
MCINERNEY HLDGS         MCI PO        -132691148.8   374303706.5
MCINERNEY HLDGS         MNEYF US      -132691148.8   374303706.5
MCINERNEY HLDGS         MCI ID        -132691148.8   374303706.5
MCINERNEY HLDGS         MCI LN        -132691148.8   374303706.5
MCINERNEY HLDGS         MCI VX        -132691148.8   374303706.5
MCINERNEY HLDGS         MK9 PO        -132691148.8   374303706.5
MCINERNEY HLDGS         MCI EO        -132691148.8   374303706.5
MCINERNEY HLDGS         MCIGBP EO     -132691148.8   374303706.5
MCINERNEY PROP-A        MYP LN        -132691148.8   374303706.5
MCINERNEY PROP-A        MCIYF US      -132691148.8   374303706.5
MCINERNEY PROP-A        MYP ID        -132691148.8   374303706.5
MCINERNEY -RT FP        MCIF ID       -132691148.8   374303706.5
MCINERNEY -RT FP        MCIF LN       -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 EU       -138030903.2   510010035.3
PAYZONE PLC             PAYZ PG       -138030903.2   510010035.3
PAYZONE PLC             PAYZ LN       -138030903.2   510010035.3
PAYZONE PLC             PAYZ EO       -138030903.2   510010035.3
PAYZONE PLC             4P6 GR        -138030903.2   510010035.3
PAYZONE PLC             PAYZ IX       -138030903.2   510010035.3
PAYZONE PLC             PAYZ PZ       -138030903.2   510010035.3
WATERFORD - RTS         508519Q LN    -505729895.2     820803256
WATERFORD - RTS         WWWA ID       -505729895.2     820803256
WATERFORD - RTS         508523Q LN    -505729895.2     820803256
WATERFORD - RTS         WWWB ID       -505729895.2     820803256
WATERFORD - RTS         WWWB GR       -505729895.2     820803256
WATERFORD - RTS         WWWA GR       -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        WWWC GR       -505729895.2     820803256
WATERFORD WED-RT        WWWD ID       -505729895.2     820803256
WATERFORD WED-RT        586552Q LN    -505729895.2     820803256
WATERFORD WED-RT        WTFR LN       -505729895.2     820803256
WATERFORD WED-RT        586556Q LN    -505729895.2     820803256
WATERFORD WED-RT        WWWC ID       -505729895.2     820803256
WATERFORD WED-RT        WWWD GR       -505729895.2     820803256
WATERFORD WED-UT        WTFU PO       -505729895.2     820803256
WATERFORD WED-UT        WWW PO        -505729895.2     820803256
WATERFORD WED-UT        WTFUGBX EO    -505729895.2     820803256
WATERFORD WED-UT        WTFU LN       -505729895.2     820803256
WATERFORD WED-UT        WTFU EU       -505729895.2     820803256
WATERFORD WED-UT        WTFU IX       -505729895.2     820803256
WATERFORD WED-UT        WTFU VX       -505729895.2     820803256
WATERFORD WED-UT        WWWD PZ       -505729895.2     820803256
WATERFORD WED-UT        WWW GR        -505729895.2     820803256
WATERFORD WED-UT        WTFUGBX EU    -505729895.2     820803256
WATERFORD WED-UT        WTFU EO       -505729895.2     820803256
WATERFORD WED-UT        WTFU ID       -505729895.2     820803256
WATERFORD WE-RTS        WTFN LN       -505729895.2     820803256
WATERFORD WE-RTS        WTFF ID       -505729895.2     820803256
WATERFORD WE-RTS        WTFN ID       -505729895.2     820803256
WATERFORD WE-RTS        WTFN VX       -505729895.2     820803256
WATERFORD WE-RTS        WTFF LN       -505729895.2     820803256
WATERFORD-ADR UT        WATFZ US      -505729895.2     820803256
WATERFORD-ADR UT        WFWA GR       -505729895.2     820803256
WATERFORD-SUB           3001875Z ID   -505729895.2     820803256

AVION GROUP             B1Q GR          -223780352    2277882368
EIMSKIPAFELAG HF        HFEIM EO        -223780352    2277882368
EIMSKIPAFELAG HF        HFEIM IR        -223780352    2277882368
EIMSKIPAFELAG HF        HFEIMEUR EU     -223780352    2277882368
EIMSKIPAFELAG HF        HFEIM EU        -223780352    2277882368
EIMSKIPAFELAG HF        HFEIMEUR EO     -223780352    2277882368
EIMSKIPAFELAG HF        HFEIM PZ        -223780352    2277882368
EIMSKIPAFELAG HF        AVION IR        -223780352    2277882368

AEDES AXA+W             AEAXAW IM     -24405906.61    1350851664
AEDES SPA               LLB GR        -24405906.61    1350851664
AEDES SPA               AE PZ         -24405906.61    1350851664
AEDES SPA               AE IM         -24405906.61    1350851664
AEDES SPA               AEDSF US      -24405906.61    1350851664
AEDES SPA               AEDI IX       -24405906.61    1350851664
AEDES SPA               AE EO         -24405906.61    1350851664
AEDES SPA               AE EU         -24405906.61    1350851664
AEDES SPA               AE TQ         -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           AESA IM       -24405906.61    1350851664
AEDES SPA-RTS           AEAA IM       -24405906.61    1350851664
AEDES SPA-SVGS R        AEDRAA IM     -24405906.61    1350851664
BINDA SPA               BNDAF US      -11146475.29   128859802.9
BINDA SPA               BND IM        -11146475.29   128859802.9
BIOERA                  BIE1 PZ       -6731364.698   131141946.1
BIOERA                  BIE EU        -6731364.698   131141946.1
BIOERA                  BIE1 IX       -6731364.698   131141946.1
BIOERA                  B2A GR        -6731364.698   131141946.1
BIOERA                  BIE IM        -6731364.698   131141946.1
BIOERA                  BIE EO        -6731364.698   131141946.1
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                GC IX         -154057608.3   800526929.5
COIN SPA                GUCIF US      -154057608.3   800526929.5
COIN SPA                965089Q GR    -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        CGLUF US      -137726596.3   527372691.4
COMPAGNIA ITALIA        ICT IM        -137726596.3   527372691.4
CREDITO FONDIARI        CRF IM        -200209050.3    4213063202
CREDITO FOND-RTS        CRFSA IM      -200209050.3    4213063202
EUROFLY SPA             EEZ IX        -4509742.055     181807336
EUROFLY SPA -RTS        EEZAXA IM     -4509742.055     181807336
EUROFLY SPA-RTS         EURAXA IM     -4509742.055     181807336
I VIAGGI DEL VEN        VVE PZ        -194331003.9     255327730
I VIAGGI DEL VEN        VVE IX        -194331003.9     255327730
I VIAGGI DEL VEN        VVE IM        -194331003.9     255327730
I VIAGGI DEL VEN        VVE EO        -194331003.9     255327730
I VIAGGI DEL VEN        IVGIF US      -194331003.9     255327730
I VIAGGI DEL VEN        IV7 GR        -194331003.9     255327730
I VIAGGI DEL VEN        VVE EU        -194331003.9     255327730
I VIAGGI DEL VEN        VVE TQ        -194331003.9     255327730
I VIAGGI-RTS            VVEAA IM      -194331003.9     255327730
MERIDIANA FLY           E7N GR        -4509742.055     181807336
MERIDIANA FLY           EEZ TQ        -4509742.055     181807336
MERIDIANA FLY           EEZ PZ        -4509742.055     181807336
MERIDIANA FLY           EFLYF US      -4509742.055     181807336
MERIDIANA FLY           EEZ IM        -4509742.055     181807336
MERIDIANA FLY           MEF IM        -4509742.055     181807336
MERIDIANA FLY           EEZ EO        -4509742.055     181807336
MERIDIANA FLY           EEZ EU        -4509742.055     181807336
MERIDIANA FLY SP        MEFAXA IM     -4509742.055     181807336
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        ONTI IX       -3191558.267   123347206.3
OMNIA NETWORK SP        ONT EU        -3191558.267   123347206.3
OMNIA NETWORK SP        ONT IM        -3191558.267   123347206.3
OMNIA NETWORK SP        ONT PZ        -3191558.267   123347206.3
OMNIA NETWORK SP        ONT EO        -3191558.267   123347206.3
OMNIA NETWORK SP        ONT TQ        -3191558.267   123347206.3
PARMALAT FINANZI        PMT LI        -18419390029    4120687886
PARMALAT FINANZI        PRF IM        -18419390029    4120687886
PARMALAT FINANZI        PARAF US      -18419390029    4120687886
PARMALAT FINANZI        PMLFF US      -18419390029    4120687886
PARMALAT FINANZI        PAF GR        -18419390029    4120687886
PARMALAT FINANZI        FICN AV       -18419390029    4120687886
PARMALAT FINANZI        PRFI VX       -18419390029    4120687886
PARMALAT FINA-RT        PRFR AV       -18419390029    4120687886
RISANAMEN-RNC OP        RNROPA IM      -51818228.1    3959683341
RISANAMENTO NAPO        RN5 GR         -51818228.1    3959683341
RISANAMENTO -OPA        RNOPA IM       -51818228.1    3959683341
RISANAMENTO -RNC        RNR IM         -51818228.1    3959683341
RISANAMENTO SPA         RN IX          -51818228.1    3959683341
RISANAMENTO SPA         RNGBP EO       -51818228.1    3959683341
RISANAMENTO SPA         RN IM          -51818228.1    3959683341
RISANAMENTO SPA         RN TQ          -51818228.1    3959683341
RISANAMENTO SPA         RN EU          -51818228.1    3959683341
RISANAMENTO SPA         RSMNF US       -51818228.1    3959683341
RISANAMENTO SPA         RN PZ          -51818228.1    3959683341
RISANAMENTO SPA         RN EO          -51818228.1    3959683341
RISANAMENTO SPA         RNGBX EO       -51818228.1    3959683341
RISANAMENTO SPA         RNGBX EU       -51818228.1    3959683341
RISANAMENTO-RTS         RNAA IM        -51818228.1    3959683341
SNIA BPD                SN GR         -141933883.9   150445252.4
SNIA BPD-ADR            SBPDY US      -141933883.9   150445252.4
SNIA SPA                SNIA GR       -141933883.9   150445252.4
SNIA SPA                SN EU         -141933883.9   150445252.4
SNIA SPA                SNIB GR       -141933883.9   150445252.4
SNIA SPA                SIAI PZ       -141933883.9   150445252.4
SNIA SPA                SBPDF US      -141933883.9   150445252.4
SNIA SPA                SIAI IX       -141933883.9   150445252.4
SNIA SPA                SN TQ         -141933883.9   150445252.4
SNIA SPA                SSMLF US      -141933883.9   150445252.4
SNIA SPA                SN IM         -141933883.9   150445252.4
SNIA SPA                SNIXF US      -141933883.9   150445252.4
SNIA SPA                SN EO         -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            SNSO IM       -141933883.9   150445252.4
SNIA SPA-RTS            SNAA IM       -141933883.9   150445252.4
SOCOTHERM SPA           SCTI PZ       -161739278.5   398222827.1
SOCOTHERM SPA           SOCEF US      -161739278.5   398222827.1
SOCOTHERM SPA           SCT EU        -161739278.5   398222827.1
SOCOTHERM SPA           SCTM IX       -161739278.5   398222827.1
SOCOTHERM SPA           SCT TQ        -161739278.5   398222827.1
SOCOTHERM SPA           SCT IM        -161739278.5   398222827.1
SOCOTHERM SPA           SCT EO        -161739278.5   398222827.1
TAS TECNOLOGIA          TAS IM        -4091557.635     172374242
TAS TECNOLOGIA          TAS PZ        -4091557.635     172374242
TAS TECNOLOGIA          TAQ GR        -4091557.635     172374242
TAS TECNOLOGIA          TAS EU        -4091557.635     172374242
TAS TECNOLOGIA          TAS TQ        -4091557.635     172374242
TAS TECNOLOGIA          TAS EO        -4091557.635     172374242
TAS TECNOLOGIA          TAS NM        -4091557.635     172374242
TECNODIFF ITALIA        TDI NM        -89894162.82   152045757.5
TECNODIFF ITALIA        TDIFF US      -89894162.82   152045757.5
TECNODIFF ITALIA        TEF GR        -89894162.82   152045757.5
TECNODIFF ITALIA        TDI IM        -89894162.82   152045757.5
TECNODIFF-RTS           TDIAOW NM     -89894162.82   152045757.5
TECNODIFFUSIONE         TDIAAW IM     -89894162.82   152045757.5
TISCALI - RTS           TIQA GR       -91679652.81   569172229.5
TISCALI - RTS           TISAAW IM     -91679652.81   569172229.5
TISCALI SPA             TISGBX EO     -91679652.81   569172229.5
TISCALI SPA             TIS IM        -91679652.81   569172229.5
TISCALI SPA             TIS NQ        -91679652.81   569172229.5
TISCALI SPA             TISN VX       -91679652.81   569172229.5
TISCALI SPA             TISN IM       -91679652.81   569172229.5
TISCALI SPA             TIS TQ        -91679652.81   569172229.5
TISCALI SPA             TSCXF US      -91679652.81   569172229.5
TISCALI SPA             TISN NA       -91679652.81   569172229.5
TISCALI SPA             TIQ1 GR       -91679652.81   569172229.5
TISCALI SPA             TISGBX EU     -91679652.81   569172229.5
TISCALI SPA             TIS NR        -91679652.81   569172229.5
TISCALI SPA             TIS EO        -91679652.81   569172229.5
TISCALI SPA             TIS EB        -91679652.81   569172229.5
TISCALI SPA             TIS NA        -91679652.81   569172229.5
TISCALI SPA             TIS FP        -91679652.81   569172229.5
TISCALI SPA             TISN IX       -91679652.81   569172229.5
TISCALI SPA             TIS EU        -91679652.81   569172229.5
TISCALI SPA             TISGBP EO     -91679652.81   569172229.5
TISCALI SPA             TIS PZ        -91679652.81   569172229.5
TISCALI SPA             TIS VX        -91679652.81   569172229.5
TISCALI SPA             TIQG IX       -91679652.81   569172229.5
TISCALI SPA             TISN FP       -91679652.81   569172229.5
TISCALI SPA             TIS IX        -91679652.81   569172229.5
TISCALI SPA             TIQ GR        -91679652.81   569172229.5
TISCALI SPA- RTS        TISAXA IM     -91679652.81   569172229.5
TISCALI SPA- RTS        3391621Q GR   -91679652.81   569172229.5

CARRIER1 INT-AD+        CONE ES          -94729000     472360992
CARRIER1 INT-ADR        CONEQ US         -94729000     472360992
CARRIER1 INT-ADR        CONE US          -94729000     472360992
CARRIER1 INT-ADR        CONEE US         -94729000     472360992
CARRIER1 INTL           CJN GR           -94729000     472360992
CARRIER1 INTL           CJN NM           -94729000     472360992
CARRIER1 INTL           CJNA GR          -94729000     472360992
CARRIER1 INTL SA        CONEF US         -94729000     472360992
CARRIER1 INTL SA        1253Z SW         -94729000     472360992
INTELSAT                ILMA GR         -325921984   17266143232
INTELSAT SA             2237Z US        -325921984   17266143232

BAAN CO NV-ASSEN        BAANA NA      -7854741.409   609871188.9
BAAN COMPANY NV         BAAN IX       -7854741.409   609871188.9
BAAN COMPANY NV         BAAN EO       -7854741.409   609871188.9
BAAN COMPANY NV         BAAN PZ       -7854741.409   609871188.9
BAAN COMPANY NV         BAAVF US      -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 EU       -7854741.409   609871188.9
BAAN COMPANY NV         BAAN GR       -7854741.409   609871188.9
BAAN COMPANY-NY         BAANF US      -7854741.409   609871188.9
CEVA GROUP PLC          976811Z NA    -310987042.7    5613530996
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        UPE GR         -5505478850    5112616630
UNITED PAN-EUROP        UPCEF US       -5505478850    5112616630
UNITED PAN-EUROP        UPC VX         -5505478850    5112616630
UNITED PAN-EUROP        UPCOF US       -5505478850    5112616630
UNITED PAN-EUROP        UPE1 GR        -5505478850    5112616630

INTEROIL EXPLORA        IOXEUR EO        -48022000     186064000
INTEROIL EXPLORA        INOX NO          -48022000     186064000
INTEROIL EXPLORA        IOXUSD EO        -48022000     186064000
INTEROIL EXPLORA        IROIF US         -48022000     186064000
INTEROIL EXPLORA        IOX NO           -48022000     186064000
INTEROIL EXPLORA        IOX PZ           -48022000     186064000
INTEROIL EXPLORA        IOXUSD EU        -48022000     186064000
INTEROIL EXPLORA        IOX BY           -48022000     186064000
INTEROIL EXPLORA        IOX IX           -48022000     186064000
INTEROIL EXPLORA        IOX EU           -48022000     186064000
INTEROIL EXPLORA        IOX EO           -48022000     186064000
INTEROIL EXPLORA        IOXEUR EU        -48022000     186064000
PETRO GEO-SERV          PGS VX        -18066142.21   399710323.6
PETRO GEO-SERV          PGS GR        -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        PGSA GR       -18066142.21   399710323.6
PETRO GEO-SV-ADR        PGOGY US      -18066142.21   399710323.6
PETROJACK AS            JACKEUR EU       -54932000     191586000
PETROJACK AS            JACKEUR EO       -54932000     191586000
PETROJACK AS            POJKF US         -54932000     191586000
PETROJACK AS            JACK EU          -54932000     191586000
PETROJACK AS            JACK EO          -54932000     191586000
PETROJACK AS            P3J GR           -54932000     191586000
PETROJACK AS            JACO IX          -54932000     191586000
PETROJACK AS            JACK NO          -54932000     191586000
PETROJACK AS            JACK PZ          -54932000     191586000
PETROJACK AS            JACK BY          -54932000     191586000
RESERVOIR EXPL          RXTEUR EU        -34076000     185510000
RESERVOIR EXPL          RXT EU           -34076000     185510000
RESERVOIR EXPL          RXTB NO          -34076000     185510000
RESERVOIR EXPL          RXAEF US         -34076000     185510000
RESERVOIR EXPL          RXTEUR EO        -34076000     185510000
RESERVOIR EXPL          5RS GR           -34076000     185510000
RESERVOIR EXPL          RXT BY           -34076000     185510000
RESERVOIR EXPL          RXT NO           -34076000     185510000
RESERVOIR EXPL          RXT PZ           -34076000     185510000
RESERVOIR EXPL          RXT IX           -34076000     185510000
RESERVOIR EXPL          RXT EO           -34076000     185510000
RESERVOIR EXPL-A        RXTA NO          -34076000     185510000
RESERVOIR-RTS           RXTUR NO         -34076000     185510000
RESERVOIR-RTS           RXTS NO          -34076000     185510000

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

CARRIS FERRO DE         3482366Z PL   -854280773.4   252500907.6
COFINA                  COFI PL       -4067307.986   329785890.1
COFINA                  CFASF US      -4067307.986   329785890.1
COFINA                  COFSI IX      -4067307.986   329785890.1
COFINA SGPS SA          CFN1 PZ       -4067307.986   329785890.1
COFINA SGPS SA          CFNX PX       -4067307.986   329785890.1
COFINA SGPS SA          COFI EO       -4067307.986   329785890.1
COFINA SGPS SA          COFI TQ       -4067307.986   329785890.1
COFINA SGPS SA          CFN PL        -4067307.986   329785890.1
COFINA SGPS SA          COFI EU       -4067307.986   329785890.1
CP - COMBOIOS DE        1005Z PL       -2809601115    1890209624
PARQUE EXPO 98 S        3482350Z PL   -135582031.5   432824747.2
PORCELANA VISTA         PVAL PL       -64841467.39   140647736.3
REFER-REDE FERRO        1250Z PL       -1611845937    2225160725
SOCIEDADE DE TRA        1253Z PL      -382109074.2   119848180.8
SPORTING-SOC DES        SCDF EO       -22452984.49   177676573.7
SPORTING-SOC DES        SCPL IX       -22452984.49   177676573.7
SPORTING-SOC DES        SCG GR        -22452984.49   177676573.7
SPORTING-SOC DES        SCDF EU       -22452984.49   177676573.7
SPORTING-SOC DES        SCDF PL       -22452984.49   177676573.7
SPORTING-SOC DES        SCP PL        -22452984.49   177676573.7
SPORTING-SOC DES        SCP1 PZ       -22452984.49   177676573.7
SPORTING-SOC DES        SCPX PX       -22452984.49   177676573.7
TAP SGPS                TAP PL        -239565845.5    3126533533
VAA VISTA ALEGRE        VAF PL        -64841467.39   140647736.3
VAA VISTA ALEGRE        VAF EO        -64841467.39   140647736.3
VAA VISTA ALEGRE        VAF EU        -64841467.39   140647736.3
VAA VISTA ALEGRE        VAFX PX       -64841467.39   140647736.3
VAA VISTA ALEGRE        VAF PZ        -64841467.39   140647736.3
VAA VISTA AL-RTS        VAAS PL       -64841467.39   140647736.3
VAA VISTA AL-RTS        VAA9S PL      -64841467.39   140647736.3
VAA VISTA ALTAN         VAFKX PX      -64841467.39   140647736.3
VAA VISTA ALTAN         VAFK EU       -64841467.39   140647736.3
VAA VISTA ALTAN         VAFK PL       -64841467.39   140647736.3
VAA VISTA ALTAN         VAFK PZ       -64841467.39   140647736.3
VAA VISTA ALTAN         VAFK EO       -64841467.39   140647736.3

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
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
RAFO SA                 RAF RO        -457922636.3   356796459.3
UZINELE SODICE G        UZIM RO       -62313938.86   107275526.8

ALLIANCE RUSSIAN        ALRT RU       -13189413.03   138268688.3
AMO ZIL                 ZILL RM       -94581153.47   400666384.3
AMO ZIL-CLS             ZILL RU       -94581153.47   400666384.3
AMO ZIL-CLS             ZILL* RU      -94581153.47   400666384.3
AMUR SHIP-BRD           AMZS* RU      -137530791.8   945775662.6
AMUR SHIP-BRD           AMZS RU       -137530791.8   945775662.6
DAGESTAN ENERGY         DASB* RU      -23504511.21     181781762
DAGESTAN ENERGY         DASB RU       -23504511.21     181781762
DAGESTAN ENERGY         DASB RM       -23504511.21     181781762
EAST-SIBERIA-BRD        VSNK RU       -12441674.89   197590852.8
EAST-SIBERIA-BRD        VSNK* RU      -12441674.89   197590852.8
EAST-SIBERIAN-BD        VSNK$ RU      -12441674.89   197590852.8
FINANCIAL LEASIN        FLKO RM       -45555537.68   466377160.5
FINANCIAL LEASIN        137282Z RU    -45555537.68   466377160.5
FINANCIAL LE-BRD        FLKO RU       -45555537.68   466377160.5
FINANCIAL LE-BRD        FLKO* RU      -45555537.68   466377160.5
GAZ-FINANS              GAZF RU       -56134.51262   232319905.4
GLOBEX-FINANS           OSOLC RU       -2727106.54   130285030.8
KOMPANIYA GL-BRD        GMST* RU       -24995189.6    1208685689
KOMPANIYA GL-BRD        GMST RU        -24995189.6    1208685689
KORPORACIJA -BRD        FZTR RU       -43512907.03     252572142
KORPORACIJA FAZO        FZTR$ RU      -43512907.03     252572142
KORPORACIJA-BRD         FZTR* RU      -43512907.03     252572142
MIAN-DEVELOPMENT        MAEQY RU      -695445.1747     424399991
MZ ARSENAL-$BRD         ARSE RU       -10888450.88   200936505.4
MZ ARSENAL-BRD          ARSE$ RU      -10888450.88   200936505.4
MZ ARSENAL-BRD          ARSE* RU      -10888450.88   200936505.4
PARNAS-M                PRSM RU       -138592.4742   127637318.8
RK-GAZSETSERVIS         RKGS RU       -54665229.61   153223493.4
RUSSIAN TEXT-CLS        ALRTG RU      -13189413.03   138268688.3
RUSSIAN TEXT-CLS        ALRT* RU      -13189413.03   138268688.3
SEVKABEL-FINANS         SVKF RU       -83036.46173   102680373.6
SISTEMA HALS            HALS RM         -343701984    1217284096
SISTEMA HALS-BRD        HALS RU         -343701984    1217284096
SISTEMA HALS-BRD        HALS* RU        -343701984    1217284096
SISTEMA HALS-GDR        HALS TQ         -343701984    1217284096
SISTEMA HALS-GDR        HALS IX         -343701984    1217284096
SISTEMA HALS-GDR        SYR GR          -343701984    1217284096
SISTEMA HALS-GDR        HALS LI         -343701984    1217284096
SISTEMA HALS-MSE        HALSM RU        -343701984    1217284096
SISTEMA HALS-T+0        HALSG RU        -343701984    1217284096
SISTEMA-GDR 144A        SEMAL US        -343701984    1217284096
SISTEMA-GDR 144A        86PN LI         -343701984    1217284096
TERNEYLES-BRD           TERL RU       -11828435.57   197558375.8
TERNEYLES-BRD           TERL* RU      -11828435.57   197558375.8
TRANSAERO AIRLIN        TRNS* RU      -21542426.88    1094294837
TRANSAERO AIRLIN        TRNS RU       -21542426.88    1094294837
URGALUGOL-BRD           YRGL* RU      -20412374.13   110116321.9
URGALUGOL-BRD           YRGL RU       -20412374.13   110116321.9
URGALUGOL-BRD-PF        YRGLP RU      -20412374.13   110116321.9
VOLGOGRAD KHIM          VHIM* RU      -22920234.24   142367839.8
VOLGOGRAD KHIM          VHIM RU       -22920234.24   142367839.8
WILD ORCHID ZAO         DOAAN RU      -12242338.85   164182102.7
ZAPSIBGASP-Q PFD        ZSGPP$ RU      -1248066.61   125676622.6
ZAPSIBGASPRO-BRD        ZSGP RU        -1248066.61   125676622.6
ZAPSIBGASPRO-BRD        ZSGP* RU       -1248066.61   125676622.6
ZAPSIBGASPROM-B         ZSGP$ RU       -1248066.61   125676622.6
ZAPSIBGASPRO-PFD        ZSGPP* RU      -1248066.61   125676622.6
ZAPSIBGASPRO-PFD        ZSGPP RU       -1248066.61   125676622.6
ZIL AUTO PLANT          ZILL$ RU      -94581153.47   400666384.3
ZIL AUTO PLANT-P        ZILLP RM      -94581153.47   400666384.3
ZIL AUTO PLANT-P        ZILLP RU      -94581153.47   400666384.3
ZIL AUTO PLANT-P        ZILLP* RU     -94581153.47   400666384.3

DUVANSKA                DIVR SG       -32792314.86   122255596.4
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

ACTUACIONES ACTI        AGR SM        -231062375.2   529525187.2
AGRUPACIO - RT          AGR/D SM      -231062375.2   529525187.2
AMADEUS IT HOLDI        AI3A GR       -397888596.9    7970850431
AMADEUS IT HOLDI        AMS SM        -397888596.9    7970850431
AMADEUS IT HOLDI        AI3A TH       -397888596.9    7970850431
AMADEUS IT HOLDI        AMS3 EO       -397888596.9    7970850431
AMADEUS IT HOLDI        AMS IX        -397888596.9    7970850431
AMADEUS IT HOLDI        AMS3 EB       -397888596.9    7970850431
AMCI HABITAT SA         AMC1 EU       -24580874.45   194758143.4
AMCI HABITAT SA         AMC SM        -24580874.45   194758143.4
AMCI HABITAT SA         AMC3 EO       -24580874.45   194758143.4
CAJA DE AHORROS         929362Z SM    -361326816.2   37311046644
FERGO AISA -RTS         AISA/D SM     -231062375.2   529525187.2
FERGO AISA SA           AISA EO       -231062375.2   529525187.2
FERGO AISA SA           AISA EU       -231062375.2   529525187.2
FERGO AISA SA           AISA PZ       -231062375.2   529525187.2
FERGO AISA SA           AISA SM       -231062375.2   529525187.2
MARTINSA FADESA         MTF1 LI        -1929870022    7764140388
MARTINSA FADESA         MTF EU         -1929870022    7764140388
MARTINSA FADESA         4PU GR         -1929870022    7764140388
MARTINSA FADESA         MFAD PZ        -1929870022    7764140388
MARTINSA FADESA         MTF EO         -1929870022    7764140388
MARTINSA FADESA         MTF SM         -1929870022    7764140388
MARTINSA-FADESA         MTF NR         -1929870022    7764140388

ALLOKTON AB             ALOKB SS      -81949466.05   495641682.4
NOBINA                  1099Z SS      -13023225.28   483974246.5
PHADIA AB               842347Z SS    -140406774.4    2127579095

BESIKTAS FUTBOL         BKTFF US      -12825040.91   182756610.7
BESIKTAS FUTBOL         BWX GR        -12825040.91   182756610.7
BESIKTAS FUTBOL         BJKAS TI      -12825040.91   182756610.7
BESIKTAS FUTBOL         BJKASY TI     -12825040.91   182756610.7
BESIKTAS FUTBOL         BJKASM TI     -12825040.91   182756610.7
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

AZOVZAGALMASH MA        AZGM UZ       -16212049.02   277693905.5
BANK FORUM -GDR         BFJG IX       -5331676.798    2243068982
BANK FORUM -GDR         FRMB038 RU    -5331676.798    2243068982
BANK FORUM -GDR         B5F GR        -5331676.798    2243068982
BANK FORUM -GDR         639540Z LX    -5331676.798    2243068982
BANK FORUM JSC          FORM UZ       -5331676.798    2243068982
DNEPROPETROVSK          DMZP UZ       -15926384.43   424303604.8
DONETSKOBLENERGO        DOON UZ       -215090745.2   394460346.2
LUGANSKGAS              LYGZ UZ       -16910611.07   109918477.6
LUGANSKOBLENERGO        LOEN UZ       -28172021.03   200011380.2
NAFTOKHIMIK PRIC        NAFP UZ       -23616113.15   520766522.6
NAFTOKHIMIK-GDR         N3ZA GR       -23616113.15   520766522.6
ODESSA OIL REFIN        ONPZ UZ       -111365037.3   482408362.5
ZALK - PFTS             ZALK UZ       -43917601.26   146530718.8

4LESS GROUP             FL/ LN        -3088436.068   106650689.4
4LESS GROUP             LI4 GR        -3088436.068   106650689.4
4LESS GROUP             BHL PO        -3088436.068   106650689.4
4LESS GROUP             BYH PO        -3088436.068   106650689.4
4LESS GROUP             FL/ PO        -3088436.068   106650689.4
4LESS GROUP             LI4 TH        -3088436.068   106650689.4
ADVANCE DISPLAY         ADTP PZ        -3015578835    2590007904
AEA TECHNOLO-FPR        AATF LN       -197788769.2   123048312.7
AEA TECHNOLO-FPR        AATF PZ       -197788769.2   123048312.7
AEA TECHNOLOGY          AEY GR        -197788769.2   123048312.7
AEA TECHNOLOGY          AAT PO        -197788769.2   123048312.7
AEA TECHNOLOGY          EAETF US      -197788769.2   123048312.7
AEA TECHNOLOGY          AAT EO        -197788769.2   123048312.7
AEA TECHNOLOGY          AAT EU        -197788769.2   123048312.7
AEA TECHNOLOGY          AAT IX        -197788769.2   123048312.7
AEA TECHNOLOGY          AATGBP EO     -197788769.2   123048312.7
AEA TECHNOLOGY          AAT PZ        -197788769.2   123048312.7
AEA TECHNOLOGY          AAT LN        -197788769.2   123048312.7
AEA TECHNOLOGY          AAT VX        -197788769.2   123048312.7
AEA TECHNOLO-NPR        AATN LN       -197788769.2   123048312.7
AEA TECHNOLO-NPR        AATN PZ       -197788769.2   123048312.7
AIRTOURS PLC            AIR VX        -379721841.6    1817512774
AIRTOURS PLC            ATORF US      -379721841.6    1817512774
AIRTOURS PLC            AIR LN        -379721841.6    1817512774
ALLDAYS PLC             317056Q LN      -120493900   252232072.9
ALLDAYS PLC             ALDYF US        -120493900   252232072.9
AMER BUS SYS            ARB LN          -497127008     121439000
AMEY PLC                AMY VX        -48862569.33   931527720.5
AMEY PLC                AMEYF US      -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               DW14 GR       -21861359.81     115463159
ANKER PLC               ANK PO        -21861359.81     115463159
ANKER PLC               ANK LN        -21861359.81     115463159
ANKER PLC - ASSD        ANKB LN       -21861359.81     115463159
ANKER PLC - ASSD        ANKC LN       -21861359.81     115463159
ANKER PLC-ASSD          ANKA LN       -21861359.81     115463159
ATKINS (WS) PLC         ATK BQ        -128972861.1    1328162171
ATKINS (WS) PLC         ATKEUR EO     -128972861.1    1328162171
ATKINS (WS) PLC         ATK VX        -128972861.1    1328162171
ATKINS (WS) PLC         ATK NQ        -128972861.1    1328162171
ATKINS (WS) PLC         ATK QM        -128972861.1    1328162171
ATKINS (WS) PLC         ATK IX        -128972861.1    1328162171
ATKINS (WS) PLC         ATK LN        -128972861.1    1328162171
ATKINS (WS) PLC         ATK PO        -128972861.1    1328162171
ATKINS (WS) PLC         ATK EO        -128972861.1    1328162171
ATKINS (WS) PLC         ATKEUR EU     -128972861.1    1328162171
ATKINS (WS) PLC         ATKGBP EO     -128972861.1    1328162171
ATKINS (WS) PLC         ATK NR        -128972861.1    1328162171
ATKINS (WS) PLC         WATKF US      -128972861.1    1328162171
ATKINS (WS) PLC         ATK EB        -128972861.1    1328162171
ATKINS (WS) PLC         ATK PZ        -128972861.1    1328162171
ATKINS (WS) PLC         6W2 GR        -128972861.1    1328162171
ATKINS (WS) PLC         ATK EU        -128972861.1    1328162171
ATKINS (WS) PLC         WATKY US      -128972861.1    1328162171
ATKINS (WS) PLC         ATK TQ        -128972861.1    1328162171
BAYDONHILL PLC          BHL PZ        -3088436.068   106650689.4
BAYDONHILL PLC          FLG OF        -3088436.068   106650689.4
BAYDONHILL PLC          BHL LN        -3088436.068   106650689.4
BAYDONHILL PLC          BYH LN        -3088436.068   106650689.4
BAYDONHILL PLC          BHL PG        -3088436.068   106650689.4
BAYDONHILL PLC          BHL EU        -3088436.068   106650689.4
BAYDONHILL PLC          BHL IX        -3088436.068   106650689.4
BAYDONHILL PLC          BHL EO        -3088436.068   106650689.4
BLACK & EDGINGTO        BLE LN        -128538078.1     135158758
BNB RECRUITMENT         BNBRF US      -10242627.53     103637705
BNB RECRUITMENT         BNB IX        -10242627.53     103637705
BNB RECRUITMENT         BQX GR        -10242627.53     103637705
BNB RECRUITMENT         BNB LN        -10242627.53     103637705
BNB RECRUITMENT         BNB PO        -10242627.53     103637705
BOOKER PLC              BKERF US       -59832880.4    1298182549
BOOKER PLC              987188Q LN     -59832880.4    1298182549
BOOKER PLC              1330Q GR       -59832880.4    1298182549
BOOKER PLC-ADR          BKRUY US       -59832880.4    1298182549
BOOKER PLC-ADR          BOK$ LN        -59832880.4    1298182549
BRADSTOCK GROUP         BSKGF US      -1855444.443   268563822.5
BRADSTOCK GROUP         BDK LN        -1855444.443   268563822.5
BRIT ENERGY LTD         523362Q LN     -5822867501    4921095750
BRIT ENERGY PLC         BGYEF US       -5822867501    4921095750
BRIT ENERGY PLC         BHEGF US       -5822867501    4921095750
BRIT ENERGY PLC         555140Q VX     -5822867501    4921095750
BRIT ENERGY PLC         BEN1 GR        -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         -3989195720   43568216595
BRIT TELECOM            9484 JP        -3989195720   43568216595
BRIT TELECOM PLC        BT/A VX        -3989195720   43568216595
BRIT TELECOM PLC        BTPWF US       -3989195720   43568216595
BRIT TELECOM PLC        BTPLF US       -3989195720   43568216595
BRIT TELECOM-ADR        BTEA GR        -3989195720   43568216595
BRIT TELECOM-ADR        1481Q CN       -3989195720   43568216595
BRIT TELECOM-RTS        BTY-R US       -3989195720   43568216595
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        BGYNYC AR      -5822867501    4921095750
BRITISH ENER-C/E        BGYC AR        -5822867501    4921095750
BRITISH ENER-CED        BGYNY AR       -5822867501    4921095750
BRITISH ENER-CED        BGY AR         -5822867501    4921095750
BRITISH ENERGY-A        BGYA PO        -5822867501    4921095750
BRITISH ENERGY-A        BGYGF US       -5822867501    4921095750
BRITISH ENERGY-A        BGYA VX        -5822867501    4921095750
BRITISH ENERGY-A        3012442Q LN    -5822867501    4921095750
BRITISH ENERGY-A        BHEAF US       -5822867501    4921095750
BRITISH TELE-FP         BT/F LN        -3989195720   43568216595
BRITISH TELE-NP         BT/N LN        -3989195720   43568216595
BRITISH TELE-NP         BTPXF US       -3989195720   43568216595
BRITVIC                 B6S GR        -34575750.23    1311266070
BRITVIC PLC             BVIC VX       -34575750.23    1311266070
BRITVIC PLC             BVIC TQ       -34575750.23    1311266070
BRITVIC PLC             BVICGBP EO    -34575750.23    1311266070
BRITVIC PLC             BVIC EB       -34575750.23    1311266070
BRITVIC PLC             BVICUSD EO    -34575750.23    1311266070
BRITVIC PLC             BVIC IX       -34575750.23    1311266070
BRITVIC PLC             BVIC LN       -34575750.23    1311266070
BRITVIC PLC             BVIC BQ       -34575750.23    1311266070
BRITVIC PLC             BVIC EU       -34575750.23    1311266070
BRITVIC PLC             BVICEUR EU    -34575750.23    1311266070
BRITVIC PLC             BVIC EO       -34575750.23    1311266070
BRITVIC PLC             BVICUSD EU    -34575750.23    1311266070
BRITVIC PLC             BTVCF US      -34575750.23    1311266070
BRITVIC PLC             BVIC NR       -34575750.23    1311266070
BRITVIC PLC             BVIC QM       -34575750.23    1311266070
BRITVIC PLC             BVIC PZ       -34575750.23    1311266070
BRITVIC PLC             BVICEUR EO    -34575750.23    1311266070
BRITVIC PLC             BVIC NQ       -34575750.23    1311266070
BRITVIC PLC-ADR         BTVCY US      -34575750.23    1311266070
BT GROUP PLC            BT/A BQ        -3989195720   43568216595
BT GROUP PLC            BT/A EO        -3989195720   43568216595
BT GROUP PLC            BT/AGBP EO     -3989195720   43568216595
BT GROUP PLC            BT/A EU        -3989195720   43568216595
BT GROUP PLC            BT/A LN        -3989195720   43568216595
BT GROUP PLC            BTGOF US       -3989195720   43568216595
BT GROUP PLC            BT/A EB        -3989195720   43568216595
BT GROUP PLC            BT/A NQ        -3989195720   43568216595
BT GROUP PLC            BT/APEN EU     -3989195720   43568216595
BT GROUP PLC            BTQ TH         -3989195720   43568216595
BT GROUP PLC            BT/APEN EO     -3989195720   43568216595
BT GROUP PLC            BT/A TQ        -3989195720   43568216595
BT GROUP PLC            BT/ VX         -3989195720   43568216595
BT GROUP PLC            BT/AUSD EU     -3989195720   43568216595
BT GROUP PLC            BT/A PO        -3989195720   43568216595
BT GROUP PLC            BT/A QM        -3989195720   43568216595
BT GROUP PLC            BT/AUSD EO     -3989195720   43568216595
BT GROUP PLC            BT/AEUR EU     -3989195720   43568216595
BT GROUP PLC            BT PZ          -3989195720   43568216595
BT GROUP PLC            BT/AEUR EO     -3989195720   43568216595
BT GROUP PLC            BT/A NR        -3989195720   43568216595
BT GROUP PLC            BTEG IX        -3989195720   43568216595
BT GROUP PLC            BT IX          -3989195720   43568216595
BT GROUP PLC            BTQ GR         -3989195720   43568216595
BT GROUP PLC-ADR        BT/$ LN        -3989195720   43568216595
BT GROUP PLC-W/I        BTWI LN        -3989195720   43568216595
BT GROUP-ADR            BTQA GR        -3989195720   43568216595
BT GROUP-ADR WI         BTY-W US       -3989195720   43568216595
BT GROUP-CED $US        BTD AR         -3989195720   43568216595
BT GROUP-CED $US        BTYD AR        -3989195720   43568216595
BT GROUP-CED BLK        BTYB AR        -3989195720   43568216595
BT GROUP-CED BLK        BTB AR         -3989195720   43568216595
BT GROUP-CED C/E        BTYC AR        -3989195720   43568216595
BT GROUP-CED C/E        BTC AR         -3989195720   43568216595
BT GROUP-CEDEAR         BTY AR         -3989195720   43568216595
BT GROUP-CEDEAR         BT AR          -3989195720   43568216595
BT GROUP-SPON AD        BTYN MM        -3989195720   43568216595
BT GROUP-SPON AD        BTY US         -3989195720   43568216595
BT GROUP-SPON AD        BT MM          -3989195720   43568216595
BT GROUP-SPON AD        BT US          -3989195720   43568216595
CARLISLE GROUP          506819Q LN    -11904426.45     203548565
CATTLES PLC             CTT EB        -599615492.2    3880885246
CATTLES PLC             CTT NQ        -599615492.2    3880885246
CATTLES PLC             CHOXF US      -599615492.2    3880885246
CATTLES PLC             CZS GR        -599615492.2    3880885246
CATTLES PLC             CTT IX        -599615492.2    3880885246
CATTLES PLC             CTTEUR EO     -599615492.2    3880885246
CATTLES PLC             CTT EO        -599615492.2    3880885246
CATTLES PLC             CTTSEK EU     -599615492.2    3880885246
CATTLES PLC             CTTGBP EO     -599615492.2    3880885246
CATTLES PLC             CTT PZ        -599615492.2    3880885246
CATTLES PLC             CTTUSD EO     -599615492.2    3880885246
CATTLES PLC             CTT LN        -599615492.2    3880885246
CATTLES PLC             CTT EU        -599615492.2    3880885246
CATTLES PLC             CTTEUR EU     -599615492.2    3880885246
CATTLES PLC             CTT BQ        -599615492.2    3880885246
CATTLES PLC             CTTSEK EO     -599615492.2    3880885246
CATTLES PLC             CTT NR        -599615492.2    3880885246
CATTLES PLC             CTT QM        -599615492.2    3880885246
CATTLES PLC             CTT TQ        -599615492.2    3880885246
CATTLES PLC             CTT VX        -599615492.2    3880885246
CATTLES PLC             CTT PO        -599615492.2    3880885246
CATTLES PLC             CTTUSD EU     -599615492.2    3880885246
CATTLES PLC-ADR         CHOXY US      -599615492.2    3880885246
CATTLES PLC-FPR         CTTF PZ       -599615492.2    3880885246
CATTLES PLC-FPR         CTTF LN       -599615492.2    3880885246
CATTLES PLC-NPR         2843730Q EU   -599615492.2    3880885246
CATTLES PLC-NPR         CTTN PZ       -599615492.2    3880885246
CATTLES PLC-NPR         CTTN LN       -599615492.2    3880885246
CATTLES PLC-NPR         CTTN IX       -599615492.2    3880885246
CATTLES PLC-NPR         2843734Q EO   -599615492.2    3880885246
CATTLES PLC-NPR         CCTN PZ       -599615492.2    3880885246
CATTLES PLC-NPR         2843726Q EO   -599615492.2    3880885246
CATTLES PLC-RFD         CTTR PZ       -599615492.2    3880885246
CATTLES PLC-RFD         CTTR IX       -599615492.2    3880885246
CATTLES PLC-RFD         CTTR LN       -599615492.2    3880885246
CHRYSALIS GROUP         CHS PZ        -7404166.369   111800785.4
CHRYSALIS GROUP         CHS EO        -7404166.369   111800785.4
CHRYSALIS GROUP         CLYSF US      -7404166.369   111800785.4
CHRYSALIS GROUP         CHS VX        -7404166.369   111800785.4
CHRYSALIS GROUP         CHSGBP EO     -7404166.369   111800785.4
CHRYSALIS GROUP         5CY GR        -7404166.369   111800785.4
CHRYSALIS GROUP         CHS IX        -7404166.369   111800785.4
CHRYSALIS GROUP         CHSUSD EU     -7404166.369   111800785.4
CHRYSALIS GROUP         CHSUSD EO     -7404166.369   111800785.4
CHRYSALIS GROUP         CHSEUR EU     -7404166.369   111800785.4
CHRYSALIS GROUP         HR4 GR        -7404166.369   111800785.4
CHRYSALIS GROUP         CHS PO        -7404166.369   111800785.4
CHRYSALIS GROUP         CYGUF US      -7404166.369   111800785.4
CHRYSALIS GROUP         CHS LN        -7404166.369   111800785.4
CHRYSALIS GROUP         CHSEUR EO     -7404166.369   111800785.4
CHRYSALIS GROUP         CHS EU        -7404166.369   111800785.4
CLIPPER WINDPOWE        C2W GR          -337139008     354437024
CLIPPER WINDPOWE        CWP EO          -337139008     354437024
CLIPPER WINDPOWE        CWP PG          -337139008     354437024
CLIPPER WINDPOWE        CWP EU          -337139008     354437024
CLIPPER WINDPOWE        CWP IX          -337139008     354437024
CLIPPER WINDPOWE        CWP LN          -337139008     354437024
CLIPPER WINDPOWE        CWPA LN         -337139008     354437024
CLIPPER WINDPOWE        CRPWF US        -337139008     354437024
CLIPPER WINDPOWE        3470635Q LN     -337139008     354437024
CLIPPER WINDPOWE        CWP PZ          -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           COST LN        -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           COSTEUR EU     -6136239.91   692749189.9
COSTAIN GROUP           CSGFF US       -6136239.91   692749189.9
COSTAIN GROUP           COSTUSD EO     -6136239.91   692749189.9
COSTAIN GROUP           COST PZ        -6136239.91   692749189.9
COSTAIN GROUP           COSTEUR EO     -6136239.91   692749189.9
COSTAIN GROUP           COST IX        -6136239.91   692749189.9
COSTAIN GROUP           COST VX        -6136239.91   692749189.9
COSTAIN GROUP           COSTGBP EO     -6136239.91   692749189.9
COSTAIN GROUP           COST PO        -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           4CV GR        -69442858.18   225437367.4
CPP GROUP PLC           CPP BQ        -69442858.18   225437367.4
CPP GROUP PLC           CPP IX        -69442858.18   225437367.4
CPP GROUP PLC           CPP PZ        -69442858.18   225437367.4
CPP GROUP PLC           CPP EU        -69442858.18   225437367.4
CPP GROUP PLC           CPP EB        -69442858.18   225437367.4
CPP GROUP PLC           CPP LN        -69442858.18   225437367.4
CPP GROUP PLC           CPP TQ        -69442858.18   225437367.4
DANKA BUS SYSTEM        DNK IX          -497127008     121439000
DANKA BUS SYSTEM        DNK PZ          -497127008     121439000
DANKA BUS SYSTEM        DNK PO          -497127008     121439000
DANKA BUS SYSTEM        DANKF US        -497127008     121439000
DANKA BUS SYSTEM        3205283Q EO     -497127008     121439000
DANKA BUS SYSTEM        DNK LN          -497127008     121439000
DANKA BUS SYSTEM        3205287Q EU     -497127008     121439000
DANKA BUS SYSTEM        DNK VX          -497127008     121439000
DANKA BUS SYSTEM        3205291Q EO     -497127008     121439000
DANKA BUS-$US CE        DANKD AR        -497127008     121439000
DANKA BUS-ADR           AP39 LI         -497127008     121439000
DANKA BUS-ADR           DB6 GR          -497127008     121439000
DANKA BUS-ADR           DANKY US        -497127008     121439000
DANKA BUS-ADR           DANKE 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
DONCASTERS PLC          2248Z LN      -317308195.4    1941958348
DONCASTERS-ADR          295664Q US    -317308195.4    1941958348
EASYNET GROUP           ESY LN        -60380609.34   334049332.2
EASYNET GROUP           EAY GR        -60380609.34   334049332.2
EASYNET GROUP           ESY PO        -60380609.34   334049332.2
EASYNET GROUP           EZNGF US      -60380609.34   334049332.2
EASYNET GROUP           ESY VX        -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 VX         -2265916257    2950021937
EMI GROUP PLC           EMI PO         -2265916257    2950021937
EMI GROUP PLC           3020138Q GR    -2265916257    2950021937
EMI GROUP PLC           EMI IX         -2265916257    2950021937
EMI GROUP PLC-B         1019425Q LN    -2265916257    2950021937
EMI GROUP-ADR           38IS LN        -2265916257    2950021937
EMI GROUP-ADR           EMIPY US       -2265916257    2950021937
EMI GROUP-ADR           EMI$ LN        -2265916257    2950021937
EUROPEAN HOME           EHR PO        -14328735.16   110864081.4
EUROPEAN HOME           EHR VX        -14328735.16   110864081.4
EUROPEAN HOME           EHR EO        -14328735.16   110864081.4
EUROPEAN HOME           EHR LN        -14328735.16   110864081.4
EUROPEAN HOME           EHREUR EU     -14328735.16   110864081.4
EUROPEAN HOME           EHRGBP EO     -14328735.16   110864081.4
EUROPEAN HOME           KLZ PO        -14328735.16   110864081.4
EUROPEAN HOME           KLZ VX        -14328735.16   110864081.4
EUROPEAN HOME           EHREUR EO     -14328735.16   110864081.4
EUROPEAN HOME           EHR PZ        -14328735.16   110864081.4
EUROPEAN HOME           FPAKF US      -14328735.16   110864081.4
EUROPEAN HOME           EHR EU        -14328735.16   110864081.4
FAREPAK PLC             FPK LN        -14328735.16   110864081.4
GALA CORAL GROUP        19374Z LN      -1328160550    7259667191
GALIFORM PLC            GLFMF US      -75193921.28   522873560.7
GALIFORM PLC            GFRM TQ       -75193921.28   522873560.7
GALIFORM PLC            MFI PO        -75193921.28   522873560.7
GALIFORM PLC            MFI IX        -75193921.28   522873560.7
GALIFORM PLC            GFRM EO       -75193921.28   522873560.7
GALIFORM PLC            GFRMEUR EO    -75193921.28   522873560.7
GALIFORM PLC            GFRMGBP EO    -75193921.28   522873560.7
GALIFORM PLC            GFRM EU       -75193921.28   522873560.7
GALIFORM PLC            GFRM PZ       -75193921.28   522873560.7
GALIFORM PLC            GFRM EB       -75193921.28   522873560.7
GALIFORM PLC            GFRMEUR EU    -75193921.28   522873560.7
GALIFORM PLC            GFRMNOK EO    -75193921.28   522873560.7
GALIFORM PLC            GFRM BQ       -75193921.28   522873560.7
GALIFORM PLC            GFRM NR       -75193921.28   522873560.7
GALIFORM PLC            GFRM NQ       -75193921.28   522873560.7
GALIFORM PLC            GFRMNOK EU    -75193921.28   522873560.7
GALIFORM PLC            GFRM QM       -75193921.28   522873560.7
GALIFORM PLC            GFRM LN       -75193921.28   522873560.7
GALIFORM PLC            GFRM PO       -75193921.28   522873560.7
GALIFORM PLC            GFRM VX       -75193921.28   522873560.7
GALIFORM PLC            MFIFF US      -75193921.28   522873560.7
GALIFORM PLC            GFRM IX       -75193921.28   522873560.7
GALIFORM PLC            MFI VX        -75193921.28   522873560.7
GARTLAND WHALLEY        GWB LN        -10986769.42   145352034.5
GO-AHEAD GRO-ADR        GHGUY US      -44415250.72    1780324810
GO-AHEAD GROUP          GOG PO        -44415250.72    1780324810
GO-AHEAD GROUP          GOG BQ        -44415250.72    1780324810
GO-AHEAD GROUP          GOG IX        -44415250.72    1780324810
GO-AHEAD GROUP          GOG PZ        -44415250.72    1780324810
GO-AHEAD GROUP          GOG NQ        -44415250.72    1780324810
GO-AHEAD GROUP          G9X GR        -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          GOGEUR EU     -44415250.72    1780324810
GO-AHEAD GROUP          GOG EU        -44415250.72    1780324810
GO-AHEAD GROUP          GHGUF US      -44415250.72    1780324810
GO-AHEAD GROUP          GOGEUR EO     -44415250.72    1780324810
GO-AHEAD GROUP          GOGGBP EO     -44415250.72    1780324810
GO-AHEAD GROUP          GOG EB        -44415250.72    1780324810
GO-AHEAD GROUP          GOG NR        -44415250.72    1780324810
GO-AHEAD GROUP          GOG VX        -44415250.72    1780324810
GO-AHEAD GROUP          GOG EO        -44415250.72    1780324810
GREEN (E) & PART        GEP LN        -35008863.49   305242409.9
HILTON G-CRT OLD        HIGT BB       -97533918.57    1748505414
HILTON GROUP PLC        HLTGF US      -97533918.57    1748505414
HILTON GROUP PLC        HG/ LN        -97533918.57    1748505414
HILTON GROUP PLC        HG PO         -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
IGLO BIRDS EYE          2332487Z LN   -340594497.5    3096975127
INEOS GROUP HLDG        6623Z LN      -798534470.8   15936006904
JARVIS PLC              JRVSEUR EU    -64739862.73     130951086
JARVIS PLC              JVSPF US      -64739862.73     130951086
JARVIS PLC              JVR GR        -64739862.73     130951086
JARVIS PLC              JRVSGBP EO    -64739862.73     130951086
JARVIS PLC              JRVS PZ       -64739862.73     130951086
JARVIS PLC              JRVS IX       -64739862.73     130951086
JARVIS PLC              JRVS VX       -64739862.73     130951086
JARVIS PLC              JRVS EU       -64739862.73     130951086
JARVIS PLC              JRVS LN       -64739862.73     130951086
JARVIS PLC              JRVSEUR EO    -64739862.73     130951086
JARVIS PLC              JRVS EO       -64739862.73     130951086
JARVIS PLC              JRVS PO       -64739862.73     130951086
JESSOPS PLC             JSPGBP EO      -42702021.2   112964060.4
JESSOPS PLC             JSPEUR EU      -42702021.2   112964060.4
JESSOPS PLC             JS4 GR         -42702021.2   112964060.4
JESSOPS PLC             JSP IX         -42702021.2   112964060.4
JESSOPS PLC             JSP EO         -42702021.2   112964060.4
JESSOPS PLC             JSP PO         -42702021.2   112964060.4
JESSOPS PLC             JSP EU         -42702021.2   112964060.4
JESSOPS PLC             JSPEUR EO      -42702021.2   112964060.4
JESSOPS PLC             JSP PZ         -42702021.2   112964060.4
JESSOPS PLC             JSP LN         -42702021.2   112964060.4
JESSOPS PLC             JSP VX         -42702021.2   112964060.4
KLEENEZE PLC            KLZ LN        -14328735.16   110864081.4
KOP FOOTBALL HOL        3315203Z LN   -214487094.9   590218957.6
KOP FOOTBALL LTD        901297Z LN    -105207451.9   474568063.7
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           LADNZD EO     -97533918.57    1748505414
LADBROKES PLC           LAD NR        -97533918.57    1748505414
LADBROKES PLC           LAD PO        -97533918.57    1748505414
LADBROKES PLC           LADEUR EO     -97533918.57    1748505414
LADBROKES PLC           LAD EU        -97533918.57    1748505414
LADBROKES PLC           LADGBP EO     -97533918.57    1748505414
LADBROKES PLC           LAD IX        -97533918.57    1748505414
LADBROKES PLC           LAD LN        -97533918.57    1748505414
LADBROKES PLC           LDBKF US      -97533918.57    1748505414
LADBROKES PLC           LAD EB        -97533918.57    1748505414
LADBROKES PLC           LAD NQ        -97533918.57    1748505414
LADBROKES PLC           LAD QM        -97533918.57    1748505414
LADBROKES PLC           LAD EO        -97533918.57    1748505414
LADBROKES PLC           LAD GR        -97533918.57    1748505414
LADBROKES PLC           LADUSD EO     -97533918.57    1748505414
LADBROKES PLC           LAD BQ        -97533918.57    1748505414
LADBROKES PLC           LADNZD EU     -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           HG/ VX        -97533918.57    1748505414
LADBROKES PLC           LAD PZ        -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 LN       -97533918.57    1748505414
LADBROKES PLC-NP        LADN PZ       -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        889687Q GR     -73166148.8   143762193.7
LEEDS UNITED PLC        LUFC LN        -73166148.8   143762193.7
LEEDS UNITED PLC        LDSUF US       -73166148.8   143762193.7
LONDON TOWN PLC         LTW PZ        -21897636.36   175672299.2
LONDON TOWN PLC         LTWR LN       -21897636.36   175672299.2
LONDON TOWN PLC         LTW PG        -21897636.36   175672299.2
LONDON TOWN PLC         LTW EU        -21897636.36   175672299.2
LONDON TOWN PLC         LTW LN        -21897636.36   175672299.2
LONDON TOWN PLC         LTWX LN       -21897636.36   175672299.2
LONDON TOWN PLC         LTW PO        -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         LTW EO        -21897636.36   175672299.2
M 2003 PLC              MTWOF US       -2203513803    7204891602
M 2003 PLC              203055Q LN     -2203513803    7204891602
M 2003 PLC-ADR          MTWOE US       -2203513803    7204891602
M 2003 PLC-ADR          MTWOY US       -2203513803    7204891602
MARCONI PLC             MRCQF US       -2203513803    7204891602
MARCONI PLC             MNI BB         -2203513803    7204891602
MARCONI PLC             MONI BB        -2203513803    7204891602
MARCONI PLC             MY2 GR         -2203513803    7204891602
MARCONI PLC             MNI LN         -2203513803    7204891602
MARCONI PLC             203083Q VX     -2203513803    7204891602
MARCONI PLC-ADR         MONIY US       -2203513803    7204891602
MARCONI PLC-ADR         MY2A GR        -2203513803    7204891602
MARCONI PLC-ADR         MRCQY US       -2203513803    7204891602
MARCONI PLC-ADR         MONIE US       -2203513803    7204891602
MARCONI PLC-ADR         MCBA GR        -2203513803    7204891602
MARCONI PLC-ADR         MONI US        -2203513803    7204891602
MARCONI PLC-ADR         QUQMON AU      -2203513803    7204891602
MARCONI PLC-ADR         MCONY US       -2203513803    7204891602
MFI FURNITURE GR        MFI LN        -75193921.28   522873560.7
MYTRAVEL GROUP          MT/S VX       -379721841.6    1817512774
MYTRAVEL GROUP          ARO2 GR       -379721841.6    1817512774
MYTRAVEL GROUP          MYTPF US      -379721841.6    1817512774
MYTRAVEL GROUP          MT/S PO       -379721841.6    1817512774
MYTRAVEL GROUP          MT/S LN       -379721841.6    1817512774
MYTRAVEL GROUP          3544280Q IX   -379721841.6    1817512774
MYTRAVEL GROUP P        MYTGF US      -379721841.6    1817512774
MYTRAVEL GROUP P        MT/ VX        -379721841.6    1817512774
MYTRAVEL GROUP P        1018144Q GR   -379721841.6    1817512774
MYTRAVEL GROUP-A        2281919Q GR   -379721841.6    1817512774
MYTRAVEL GROUP-A        MYTVF US      -379721841.6    1817512774
NEW STAR ASSET          3226435Q EO     -397718038   292972732.1
NEW STAR ASSET          NWSAF US        -397718038   292972732.1
NEW STAR ASSET          3226447Q EO     -397718038   292972732.1
NEW STAR ASSET          NSAM TQ         -397718038   292972732.1
NEW STAR ASSET          3226443Q EO     -397718038   292972732.1
NEW STAR ASSET          N6S GR          -397718038   292972732.1
NEW STAR ASSET          NSAM PZ         -397718038   292972732.1
NEW STAR ASSET          NSAM PO         -397718038   292972732.1
NEW STAR ASSET          NSAA LN         -397718038   292972732.1
NEW STAR ASSET          3226439Q EU     -397718038   292972732.1
NEW STAR ASSET          NSAM LN         -397718038   292972732.1
NEW STAR ASSET          3226431Q EU     -397718038   292972732.1
NEW STAR ASSET          NSAM IX         -397718038   292972732.1
NORTHERN FOODS          NFDSUSD EO    -30711069.58   891077074.3
NORTHERN FOODS          NFDSGBP EO    -30711069.58   891077074.3
NORTHERN FOODS          NFDS TQ       -30711069.58   891077074.3
NORTHERN FOODS          NFDS PO       -30711069.58   891077074.3
NORTHERN FOODS          NFDS EB       -30711069.58   891077074.3
NORTHERN FOODS          NFO GR        -30711069.58   891077074.3
NORTHERN FOODS          NFDSEUR EO    -30711069.58   891077074.3
NORTHERN FOODS          NFDSUSD EU    -30711069.58   891077074.3
NORTHERN FOODS          NFDS PZ       -30711069.58   891077074.3
NORTHERN FOODS          NFDS LN       -30711069.58   891077074.3
NORTHERN FOODS          NFDS BQ       -30711069.58   891077074.3
NORTHERN FOODS          NFDS NQ       -30711069.58   891077074.3
NORTHERN FOODS          NFDS NR       -30711069.58   891077074.3
NORTHERN FOODS          NFDS QM       -30711069.58   891077074.3
NORTHERN FOODS          NFDS VX       -30711069.58   891077074.3
NORTHERN FOODS          NFDSEUR EU    -30711069.58   891077074.3
NORTHERN FOODS          NFDS EO       -30711069.58   891077074.3
NORTHERN FOODS          NFDS EU       -30711069.58   891077074.3
NORTHERN FOODS          NFDS IX       -30711069.58   891077074.3
NORTHERN FOODS          NTFOF US      -30711069.58   891077074.3
NORTHERN FOODS P        NFDR LN       -30711069.58   891077074.3
NORTHERN FOO-NEW        NFDN LN       -30711069.58   891077074.3
NORTHERN FOO-RFD        650060Q LN    -30711069.58   891077074.3
OCADO GROUP PLC         OCDO EB       -53016960.71   225261865.5
OCADO GROUP PLC         OCDO EO       -53016960.71   225261865.5
OCADO GROUP PLC         0OC GR        -53016960.71   225261865.5
OCADO GROUP PLC         OCDO IX       -53016960.71   225261865.5
OCADO GROUP PLC         OCDO PZ       -53016960.71   225261865.5
OCADO GROUP PLC         OCDO LN       -53016960.71   225261865.5
ORANGE PLC              1460Q GR        -593935051    2902299502
ORANGE PLC              ORNGF US        -593935051    2902299502
ORANGE PLC              951641Q LN      -593935051    2902299502
ORANGE PLC-ADR          ONG GR          -593935051    2902299502
ORANGE PLC-ADR          ORNGY US        -593935051    2902299502
ORANGE PLC-ADR          ORA$ LN         -593935051    2902299502
ORBIS PLC               OBS IX        -4168498.479   127701679.5
ORBIS PLC               OBS LN        -4168498.479   127701679.5
ORBIS PLC               OBG PO        -4168498.479   127701679.5
ORBIS PLC               OBS PO        -4168498.479   127701679.5
ORBIS PLC               ORBSF US      -4168498.479   127701679.5
ORBIS PLC               RLP GR        -4168498.479   127701679.5
ORBIS PLC               OBS PZ        -4168498.479   127701679.5
PATIENTLINE PLC         PTL PZ        -54677284.64   124948245.8
PATIENTLINE PLC         2928907Q EO   -54677284.64   124948245.8
PATIENTLINE PLC         PTL IX        -54677284.64   124948245.8
PATIENTLINE PLC         PTL PO        -54677284.64   124948245.8
PATIENTLINE PLC         2928899Q EO   -54677284.64   124948245.8
PATIENTLINE PLC         PTL VX        -54677284.64   124948245.8
PATIENTLINE PLC         PTL LN        -54677284.64   124948245.8
PATIENTLINE PLC         2928903Q EU   -54677284.64   124948245.8
PROSTRAKAN GROUP        PSKEUR EO      -8881399.87   126115878.2
PROSTRAKAN GROUP        PSK IX         -8881399.87   126115878.2
PROSTRAKAN GROUP        PSK LN         -8881399.87   126115878.2
PROSTRAKAN GROUP        PSKEUR EU      -8881399.87   126115878.2
PROSTRAKAN GROUP        PSK EU         -8881399.87   126115878.2
PROSTRAKAN GROUP        PKNGF US       -8881399.87   126115878.2
PROSTRAKAN GROUP        PSKGBP EO      -8881399.87   126115878.2
PROSTRAKAN GROUP        PSK PZ         -8881399.87   126115878.2
PROSTRAKAN GROUP        PSK EO         -8881399.87   126115878.2
PROSTRAKAN GROUP        PSK PO         -8881399.87   126115878.2
PROSTRAKAN GROUP        PSK VX         -8881399.87   126115878.2
REAL ESTATE OP-O        REA GR        -145048365.8    2933767507
REAL ESTATE OP-O        REO VX        -145048365.8    2933767507
REAL ESTATE OP-O        REOGBP EO     -145048365.8    2933767507
REAL ESTATE OP-O        REO EU        -145048365.8    2933767507
REAL ESTATE OP-O        REO LN        -145048365.8    2933767507
REAL ESTATE OP-O        REO PZ        -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        REO EO        -145048365.8    2933767507
REGUS LTD               273187Q LN    -46111835.37     367181111
REGUS PLC               REGSF US      -46111835.37     367181111
REGUS PLC               273195Q VX    -46111835.37     367181111
REGUS PLC               RGU GR        -46111835.37     367181111
REGUS PLC               2296Z LN      -46111835.37     367181111
REGUS PLC-ADS           REGSY US      -46111835.37     367181111
REGUS PLC-ADS           REGS US       -46111835.37     367181111
REGUS PLC-ADS           RGUA GR       -46111835.37     367181111
REGUS PLC-ADS           REGSV US      -46111835.37     367181111
RENTOKIL INITIAL        RTO PO        -242381476.4    3231214649
RENTOKIL INITIAL        RTOEUR EO     -242381476.4    3231214649
RENTOKIL INITIAL        RTO NR        -242381476.4    3231214649
RENTOKIL INITIAL        RTO EB        -242381476.4    3231214649
RENTOKIL INITIAL        RTO1 GR       -242381476.4    3231214649
RENTOKIL INITIAL        RTO QM        -242381476.4    3231214649
RENTOKIL INITIAL        RTO VX        -242381476.4    3231214649
RENTOKIL INITIAL        RTO TQ        -242381476.4    3231214649
RENTOKIL INITIAL        RTO PZ        -242381476.4    3231214649
RENTOKIL INITIAL        RTO GR        -242381476.4    3231214649
RENTOKIL INITIAL        RTO IX        -242381476.4    3231214649
RENTOKIL INITIAL        RTO LN        -242381476.4    3231214649
RENTOKIL INITIAL        RTO NQ        -242381476.4    3231214649
RENTOKIL INITIAL        RTOKF US      -242381476.4    3231214649
RENTOKIL INITIAL        RTOGBP EO     -242381476.4    3231214649
RENTOKIL INITIAL        RTOEUR EU     -242381476.4    3231214649
RENTOKIL INITIAL        RTOG IX       -242381476.4    3231214649
RENTOKIL INITIAL        RKLIF US      -242381476.4    3231214649
RENTOKIL INITIAL        RTO EO        -242381476.4    3231214649
RENTOKIL INITIAL        RTOUSD EO     -242381476.4    3231214649
RENTOKIL INITIAL        RTO EU        -242381476.4    3231214649
RENTOKIL INITIAL        RTO BQ        -242381476.4    3231214649
RENTOKIL INITIAL        RTOUSD EU     -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          1442Q GR      -51512119.25     207340304
SCOTTISH MEDIA          SSM LN        -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          SKPEUR EO     -128538078.1     135158758
SKYEPHARMA PLC          SK8A GR       -128538078.1     135158758
SKYEPHARMA PLC          SKP EU        -128538078.1     135158758
SKYEPHARMA PLC          SKP VX        -128538078.1     135158758
SKYEPHARMA PLC          SKP LN        -128538078.1     135158758
SKYEPHARMA PLC          SKP TQ        -128538078.1     135158758
SKYEPHARMA PLC          SKP EO        -128538078.1     135158758
SKYEPHARMA PLC          SKP PO        -128538078.1     135158758
SKYEPHARMA PLC          SKPGBP EO     -128538078.1     135158758
SKYEPHARMA PLC          SKP BQ        -128538078.1     135158758
SKYEPHARMA PLC          SKP IX        -128538078.1     135158758
SKYEPHARMA PLC          SK8C GR       -128538078.1     135158758
SKYEPHARMA PLC          SKP1 VX       -128538078.1     135158758
SKYEPHARMA PLC          SKPEUR EU     -128538078.1     135158758
SKYEPHARMA PLC          SKYEF US      -128538078.1     135158758
SKYEPHARMA PLC          SKP PZ        -128538078.1     135158758
SKYEPHARMA -SUB         2976665Z LN   -128538078.1     135158758
SKYEPHARMA-ADR          SKYEY US      -128538078.1     135158758
SKYEPHARMA-ADR          SKYPY US      -128538078.1     135158758
SKYEPHARMA-ADR          SK8 GR        -128538078.1     135158758
SKYEPHARMA-ADR          SK8N GR       -128538078.1     135158758
SKYEPHARMA-ADR          AP80 LI       -128538078.1     135158758
SKYEPHARMA-ADR          SKYE US       -128538078.1     135158758
SKYEPHAR-RTS F/P        SKPF LN       -128538078.1     135158758
SKYEPHAR-RTS F/P        SKPF VX       -128538078.1     135158758
SKYEPHAR-RTS N/P        SKPN LN       -128538078.1     135158758
SKYEPHAR-RTS N/P        SKPN VX       -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         NWS2GBP EO     -99944882.2   279114366.1
SMITHS NEWS PLC         NWS VX         -99944882.2   279114366.1
SMITHS NEWS PLC         NWS PZ         -99944882.2   279114366.1
SMITHS NEWS PLC         SMWPF US       -99944882.2   279114366.1
SMITHS NEWS PLC         NWS2 TQ        -99944882.2   279114366.1
SMITHS NEWS PLC         SMWPY US       -99944882.2   279114366.1
SMITHS NEWS PLC         NWS1 BQ        -99944882.2   279114366.1
SMITHS NEWS PLC         NWS2 EO        -99944882.2   279114366.1
SMITHS NEWS PLC         NWS LN         -99944882.2   279114366.1
SMITHS NEWS PLC         NWS PO         -99944882.2   279114366.1
SMITHS NEWS PLC         NWS2EUR EO     -99944882.2   279114366.1
SMITHS NEWS PLC         NWS1GBP EO     -99944882.2   279114366.1
SMITHS NEWS PLC         NWS2EUR EU     -99944882.2   279114366.1
SMITHS NEWS PLC         NWS1 EO        -99944882.2   279114366.1
SMITHS NEWS PLC         NWS1 EU        -99944882.2   279114366.1
SMITHS NEWS PLC         NWS2 EU        -99944882.2   279114366.1
SMITHS NEWS PLC         NWS IX         -99944882.2   279114366.1
STV GROUP PLC           STVG VX       -51512119.25     207340304
STV GROUP PLC           SMG PZ        -51512119.25     207340304
STV GROUP PLC           STVG EU       -51512119.25     207340304
STV GROUP PLC           SMG VX        -51512119.25     207340304
STV GROUP PLC           STVG LN       -51512119.25     207340304
STV GROUP PLC           SMG IX        -51512119.25     207340304
STV GROUP PLC           SMGPF US      -51512119.25     207340304
STV GROUP PLC           STVG EO       -51512119.25     207340304
STV GROUP PLC           STVGEUR EU    -51512119.25     207340304
STV GROUP PLC           STVGGBP EO    -51512119.25     207340304
STV GROUP PLC           STVGEUR EO    -51512119.25     207340304
TELEWEST COM-ADR        TWSTD US       -3702234581    7581020925
TELEWEST COM-ADR        940767Q GR     -3702234581    7581020925
TELEWEST COM-ADR        TWT$ LN        -3702234581    7581020925
TELEWEST COM-ADR        TWSTY US       -3702234581    7581020925
TELEWEST COMM           TWSTF US       -3702234581    7581020925
TELEWEST COMM           604296Q GR     -3702234581    7581020925
TELEWEST COMM           TWT VX         -3702234581    7581020925
TELEWEST COMM           715382Q LN     -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
TI AUTOMOTIVE-A         6525Z LN      -298787496.1    1730489867
TOPPS TILES PLC         TPT TQ        -49423537.13   155303750.4
TOPPS TILES PLC         TPT IX        -49423537.13   155303750.4
TOPPS TILES PLC         TPT PZ        -49423537.13   155303750.4
TOPPS TILES PLC         TPTJF US      -49423537.13   155303750.4
TOPPS TILES PLC         TPTEUR EO     -49423537.13   155303750.4
TOPPS TILES PLC         TPTJY US      -49423537.13   155303750.4
TOPPS TILES PLC         TPT VX        -49423537.13   155303750.4
TOPPS TILES PLC         TPT PO        -49423537.13   155303750.4
TOPPS TILES PLC         TPT EO        -49423537.13   155303750.4
TOPPS TILES PLC         TPTGBP EO     -49423537.13   155303750.4
TOPPS TILES PLC         TPT BQ        -49423537.13   155303750.4
TOPPS TILES PLC         TPT EU        -49423537.13   155303750.4
TOPPS TILES PLC         TPT LN        -49423537.13   155303750.4
TOPPS TILES PLC         TPTEUR EU     -49423537.13   155303750.4
TOPPS TILES-NEW         TPTN LN       -49423537.13   155303750.4
UNIGATE PLC             UNGAF US      -24544959.64   626057950.8
UNIGATE PLC             UNGPF US      -24544959.64   626057950.8
UNIGATE PLC             1577Q GR      -24544959.64   626057950.8
UNIGATE PLC             UNIG LN       -24544959.64   626057950.8
UNIGATE PLC-ADR         UNGAY US      -24544959.64   626057950.8
UNIQ PLC                UNIQ EU       -24544959.64   626057950.8
UNIQ PLC                UNIQGBP EO    -24544959.64   626057950.8
UNIQ PLC                UNQPF US      -24544959.64   626057950.8
UNIQ PLC                UNIQ EO       -24544959.64   626057950.8
UNIQ PLC                UNIQ IX       -24544959.64   626057950.8
UNIQ PLC                UNIQ VX       -24544959.64   626057950.8
UNIQ PLC                UNIQEUR EO    -24544959.64   626057950.8
UNIQ PLC                UNIQ PO       -24544959.64   626057950.8
UNIQ PLC                UNIQ LN       -24544959.64   626057950.8
UNIQ PLC                UNIQF US      -24544959.64   626057950.8
UNIQ PLC                UNIQEUR EU    -24544959.64   626057950.8
UNIQ PLC                UGE GR        -24544959.64   626057950.8
UNIQ PLC                UNIQ PZ       -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 LN       -392165437.6   166070003.7
VIRGIN MOBILE           VGMHF US      -392165437.6   166070003.7
VIRGIN MOBILE           VMOB VX       -392165437.6   166070003.7
VIRGIN MOBILE           UEM GR        -392165437.6   166070003.7
VIRGIN MOBILE           VMOB PO       -392165437.6   166070003.7
WARNER ESTATE           WNER PZ       -6076459.885   426871306.9
WARNER ESTATE           WNEHF US      -6076459.885   426871306.9
WARNER ESTATE           WNER EU       -6076459.885   426871306.9
WARNER ESTATE           WNER LN       -6076459.885   426871306.9
WARNER ESTATE           WNER PO       -6076459.885   426871306.9
WARNER ESTATE           WNER EO       -6076459.885   426871306.9
WARNER ESTATE           WNER IX       -6076459.885   426871306.9
WARNER ESTATE           WRL GR        -6076459.885   426871306.9
WARNER ESTATE           WNER VX       -6076459.885   426871306.9
WARNER ESTATE           WNERGBP EO    -6076459.885   426871306.9
WATSON & PHILIP         WTSN LN         -120493900   252232072.9
WHITE YOUNG GREE        WHYEUR EU     -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 PZ        -35008863.49   305242409.9
WHITE YOUNG GREE        WHY PO        -35008863.49   305242409.9
WHITE YOUNG GREE        WHY VX        -35008863.49   305242409.9
WHITE YOUNG GREE        WHY EO        -35008863.49   305242409.9
WHITE YOUNG GREE        WHYEUR EO     -35008863.49   305242409.9
WHITE YOUNG GREE        WHY LN        -35008863.49   305242409.9
WHITE YOUNG-NEW         WHYN LN       -35008863.49   305242409.9
WINCANTON PL-ADR        WNCNY US      -151911497.1    1420828184
WINCANTON PLC           WIN1 NQ       -151911497.1    1420828184
WINCANTON PLC           WIN1 QM       -151911497.1    1420828184
WINCANTON PLC           WIN PZ        -151911497.1    1420828184
WINCANTON PLC           WIN1EUR EO    -151911497.1    1420828184
WINCANTON PLC           WIN1 EB       -151911497.1    1420828184
WINCANTON PLC           WIN IX        -151911497.1    1420828184
WINCANTON PLC           WIN1 BQ       -151911497.1    1420828184
WINCANTON PLC           WIN LN        -151911497.1    1420828184
WINCANTON PLC           WIN PO        -151911497.1    1420828184
WINCANTON PLC           WIN1USD EU    -151911497.1    1420828184
WINCANTON PLC           WIN1 TQ       -151911497.1    1420828184
WINCANTON PLC           WIN1 EU       -151911497.1    1420828184
WINCANTON PLC           WIN1EUR EU    -151911497.1    1420828184
WINCANTON PLC           WIN1USD EO    -151911497.1    1420828184
WINCANTON PLC           WNCNF US      -151911497.1    1420828184
WINCANTON PLC           WIN1GBP EO    -151911497.1    1420828184
WINCANTON PLC           WIN1 EO       -151911497.1    1420828184
WINCANTON PLC           WIN VX        -151911497.1    1420828184
WYG PLC                 WYGGBP EO     -35008863.49   305242409.9
WYG PLC                 WYG EO        -35008863.49   305242409.9
WYG PLC                 WYG LN        -35008863.49   305242409.9
WYG PLC                 WHY IX        -35008863.49   305242409.9
WYG PLC                 WYG PZ        -35008863.49   305242409.9
WYG PLC                 WYGEUR EU     -35008863.49   305242409.9
WYG PLC                 WYGEUR EO     -35008863.49   305242409.9
WYG PLC                 WYG EU        -35008863.49   305242409.9


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

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  Go to 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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