TCREUR_Public/100928.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, September 28, 2010, Vol. 11, No. 191



ALCATEL-LUCENT: Can Hit 2010-2011 Turnaround Targets, CEO Says
ALLIANZ GLOBAL: Files for Creditor Protection Under Ch. 15 in U.S.
ALLIANZ IARD: Files for Creditor Protection Under Ch. 15 in U.S.


ATU AUTO-TEILE-UNGER: Moody's Assigns (P)B3 Rating on Senior Notes
ATU AUTO-TEILE-UNGER: S&P Assigns Prelim. 'B-' Corp. Credit Rating


ANGLO IRISH: Ireland to Unveil Final Bailout Cost This Week
ARNOTTS HOLDINGS: Middle East Consortium Leads Bidding Race
ARNOTTS HOLDINGS: Appoints Nigel Blow as New Chief Executive
CLARENCE HOTEL: Reports Shareholders' Deficit of EUR2.58MM in 2009
FAIRLEE PROPERTIES: Owner to Take Receivership Case to High Court

STANTON ABS: S&P Affirms D (sf) Ratings on Three Classes of Notes
WARNER CHILCOTT: Moody's Rates US$500 Mil. Note Offering at 'B3'

* IRELAND: NAMA May Use Real Estate Investment Trust Model


IT HOLDING: Awaits Government Approval of Prodos-Samsung Bid


KAUPTHING BANK: Ex-Shareholder Settles Suit Over EUR7.46MM Loan
KAZAKHSTAN TEMIR: S&P Gives Positive Outlook; Keeps 'BB+' Rating


GELDILUX-TS-2010: Moody's Assigns (P)Ba2 Rating on Class E Notes


BETULA FUNDING: Fitch Affirms 'B' Rating on Class A Notes


NEW FORWARDING: Moody's Assigns 'B1' Rating on Senior Bonds

* IRKUTSK OBLAST: S&P Assigns 'B+' Long-Term Issuer Credit Rating


GC FTPYME: DBRS Assigns 'BB' Rating on Class B Notes


* Fitch Affirms Ratings on Six Ukrainian Foreign-Owned Banks

U N I T E D   K I N G D O M

1ST DENTAL: Blames HM Revenue for Being Forced Into Administration
A1 PAPER: Goes Into Administrative Receivership
APL DEVELOPMENTS: Owes GBP3.5 Million to Banks
BOYES CONNING: In Liquidation; Tinnelly Transport Buys Firm
CONNAUGHT PLC: City Halls Faces Call for Inquiry Into Collapse

CONNAUGHT PLC: Repair Workers' Jobs Fixed by Paradigm Maintenance
E-CLEAR: Owes Creditors GBP27 Million More Than Estimated
HALTON LEA: Receivers Put Up Runcorn Shopping Centre for Sale
KNOWLEDGE ZONE: Set to be Placed in Voluntary Liquidation
LEHMAN BROTHERS: LBIE Extends Proofs of Debt Deadline

LEHMAN BROTHERS: PwC to Appeal UK Court Ruling on Payout
LUMINAR GROUP: Downplays Debt Breach Fears; 1st Half Sales Down
MCDAID DEVELOPMENTS: Collapse Costs Bank of Ireland GBP36 Million
NORTH SHROPSHIRE: Former Head Jailed for Stealing GBP19,000
ROYAL BANK: JPMorgan Chase in Talks to Buy Power Trading Book

SIMCLAR GROUP: Liquidators Continue Legal Fight in November
TARGETFOLLOW ESTATE: Forced Into Administration

* UK: Leisure and Hotel Industry Insolvency Rate Continues to Fall


* Large Companies with Insolvent Balance Sheet



ALCATEL-LUCENT: Can Hit 2010-2011 Turnaround Targets, CEO Says
Andrew Parker at The Financial Times reports that Ben Verwaayen,
Alcatel-Lucent's chief executive, is insisting that the company
can hit its turnaround targets for 2010 and 2011.

Mr. Verwaayen told the FT in a video interview that many of the
problems surrounding the merger between France's Alcatel and
Lucent of the US had been resolved, and Mr. Verwaayen held out the
possibility of the company issuing a dividend in 2012.

Alcatel-Lucent has been rocked by several profit warnings since
the 2006 merger, and in February the company cut its earnings
guidance for 2010, the FT relates.

The FT notes some analysts are skeptical that the company can hit
its guidance for an adjusted operating profit margin of 1% to 5%
this year, and 5% to 9% in 2011, partly because Alcatel-Lucent is
contending with intense competition, notably from Chinese groups
led by Huawei Technologies.

As reported by the Troubled Company Reporter-Europe on Aug. 3,
2010, the FT said Alcatel-Lucent has not made an annual net profit
since the two companies merged more than three years ago.

                       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.

ALLIANZ GLOBAL: Files for Creditor Protection Under Ch. 15 in U.S.
Chapter 15 Petitioner: David McGuigan

Chapter 15 Debtor: Allianz Global Corporate & Specialty (France)
                     fka Compagnie d'Assurances Maritimes
                         Aeriennes et Terrestres
                     aka Allianz Marine & Aviation (France)
                   787 Seventh Avenue
                   New York, NY 10019
                   Tel: (212) 839-5300

Chapter 15 Case No.: 10-14990

Type of Business: The Debtor is one of the leading providers of
                  Property and Casual insurance, large engineering
                  projects and risk management solutions.

Chapter 15 Petition Date: September 22, 2010

Court: U.S. Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Lee Stein Attanasio, Esq.
                  SIDLEY AUSTIN LLP
                  787 Seventh Avenue
                  New York, NY 10019
                  Tel: (212) 839-5300
                  Fax: (212) 839-5599

Estimated Assets: More than US$100 million

Estimated Assets: US$1,000,001 to US$100,000,000

The Debtor did not file a list of creditors together with its

Under Chapter 15 of the U.S. Bankruptcy Code, a company may seek a
U.S. bankruptcy court's recognition of its foreign bankruptcy case
as the main proceeding.  If recognized by a U.S. judge, the
bankruptcy filing effectively puts the brakes on lawsuits and
halts creditors from seizing the company's assets.  Pending
recognition, the company may apply for a temporary injunction.

ALLIANZ IARD: Files for Creditor Protection Under Ch. 15 in U.S.
Chapter 15 Petitioner: David McGuigan

Chapter 15 Debtor: Allianz IARD
                     fka Assurances Generales de France I.A.R.T.)
                   787 Seventh Avenue
                   New York, NY 10019
                   Tel: (212) 839-5300

Chapter 15 Case No.: 10-14991

Type of Business: The Debtor, which is based in Paris, France,
                  offers non life insurance services.

Chapter 15 Petition Date: September 22, 2010

Court: U.S. Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Lee Stein Attanasio, Esq.
                  SIDLEY AUSTIN LLP
                  787 Seventh Avenue
                  New York, NY 10019
                  Tel: (212) 839-5300
                  Fax: (212) 839-5599

Estimated Assets: More than US$100 million

Estimated Assets: US$1,000,001 to US$100,000,000

The Debtor did not file a list of creditors together with its

Under Chapter 15 of the U.S. Bankruptcy Code, a company may seek a
U.S. bankruptcy court's recognition of its foreign bankruptcy case
as the main proceeding.  If recognized by a U.S. judge, the
bankruptcy filing effectively puts the brakes on lawsuits and
halts creditors from seizing the company's assets.  Pending
recognition, the company may apply for a temporary injunction.


ATU AUTO-TEILE-UNGER: Moody's Assigns (P)B3 Rating on Senior Notes
Moody's Investors Service has assigned a provisional (P)B3 rating
to ATU's proposed senior secured notes worth EUR450 million.  At
the same time, Moody's has also affirmed the Caa1 corporate family
rating of A.T.U. Auto-Teile-Unger Investment GmbH & Co. KG. and
the Caa3 rating for the existing floating rate notes (initially
EUR150 million) issued by A.T.U. Auto-Teile-Unger Investment GmbH
& Co. KG.  The outlook remains negative.

ATU plans to raise EUR450 million of senior secured debt and
obtain a EUR30 million super senior revolving credit facility in
order to refinance its existing bank debt.  The proposed EUR450
million debt financing will be in the form of senior secured notes
or pari passu loans.  The notes will not be registered under the
United States Securities Act of 1933, as amended, and may not be
offered or sold within the US (as defined in Regulation S under
the Securities Act) except to qualified institutional buyers under
Rule 144A and to non-US persons outside the US under Regulation S
of the Act.

Given the proposed maturity in 2014, a successful issue would term
out ATU's debt financing, which currently includes amortizing and
bullet term loans falling due over 2011-2013.  As Moody's believes
that ATU's existing debt maturity profile will be very difficult
for the group to meet, a successful issue would take pressure off
the group's refinancing needs and be viewed by the rating agency
as a credit positive.  Moreover, an extended debt maturity profile
would give ATU more time to continue its gradual earnings
recovery, which started in 2008 following a change in the group's
senior management, and potentially achieve leverage levels that
would allow for a higher rating.  Therefore, an outlook change to
stable from negative is likely if the proposed refinancing
materializes as planned.  ATU's current high leverage levels of
approximately 7.7x debt/EBITDA as of Q2 2010 (as adjusted by
Moody's) constrain the group's CFR at Caa1, but an upgrade to B3
would become possible if, amongst other developments, leverage to
be further reduced to levels below 7x debt/EBITDA.

While ATU's current high leverage is the result of earnings
erosion over 2006-2008, Moody's notes positively the demonstrated
commitment and ability of ATU's management to restructure and
reposition the group.  Major achievements have been significant
cost savings through personnel reduction and improved sourcing, as
well as the increased efficiency of sales and marketing
activities.  In total, the group estimates that it has reduced its
cost base by approximately EUR116 million compared with 2007
levels.  This allowed for a reduction in leverage from 10.6x
debt/EBITDA in 2008 to 7.7x as at Q2 2010 on an LTM basis.  It
also appears that ATU has made good progress in repositioning its
business model to its original and successful value-for-money
proposition, providing good quality parts of well-known brands and
good service at a low price.

However, having noted that ATU's leverage remains high, Moody's
cautions that the group's revenues and earnings still rely
strongly on the winter tyre business, which in turn depends on
weather conditions and is, therefore, difficult to predict.
Moreover, competition in the car parts and car repair market
remains intense, which will continue to challenge ATU's revenues
and earnings in future.

The proposed EUR450 million worth of senior secured notes will be
issued by A.T.U. Auto-Teile-Unger Handels GmbH & Co. KG, a
subsidiary of A.T.U. Auto-Teile-Unger Investment GmbH & Co. KG and
the most significant operating entity of ATU group.  The proposed
senior secured notes, as well as the new EUR30 million super
senior revolving credit facility, will benefit from guarantees of
subsidiaries of the issuer A.T.U. Auto-Teile-Unger Handels GmbH &
Co. KG.  Together with the issuer, these subsidiaries represent
substantially all of the revenues and tangible assets of the group
(defined as PP&E, inventories, trade receivables, trademarks,
franchises, industrial rights and similar rights).

Moreover, the proposed senior secured notes and the revolving
credit facility will be secured by shares of capital stock of the
issuer and the guarantors as well as certain inventory,
receivables, moveable assets and trademarks of the issuer.  Land,
buildings and equipment are not part of the collateral since ATU
leases most of its branches and owns only minor amounts of this
asset category (as of December 2009, ATU reported consolidated
property, plant and equipment amounting to EUR55 million).  In
total, Moody's estimates that the collateral represents the clear
majority of the group's tangible assets.  In this context, it
should also be noted that goodwill (EUR588 million as per December
2009), represents a large portion of ATU's assets (EUR1,066
million as December 2009), and that the book value of its tangible
assets would be insufficient to cover the group's financial debt.

The revolving credit facility will rank super senior to the
proposed senior secured notes on distribution of enforcement
proceeds, or bankruptcy or insolvency proceeds of security.  The
proposed senior secured notes will rank effectively senior to the
existing floating-rate notes, which benefit only from subordinated
upstream guarantees and not from tangible collateral.  Moody's
understands that the proposed option of pari passu loans would
rank effectively pari passu with the proposed senior secured

The (P)B3 rating for the proposed senior secured notes is the
outcome of Moody's application of its Loss Given Default
Methodology, with the rating agency having taken the view into
account that the security package comprises essentially all of the
group's assets.  The (P)B3 rating is one notch above the Caa1 CFR
whereas the Caa3 rating on the existing floating-rate notes
remains two notches below the CFR.

Moody's notes that, apart from the proposed senior secured notes
and the existing floating-rate notes, ATU's debt structure will
consist of only the new EUR30 million revolving credit facility
and minor amounts of other bank debt following the refinancing.
Moody's further notes that ATU has substantial lease obligations,
of which EUR119 million (expected lease payments for 2010) has
been considered as a lease rejection claim in the rating agency's
loss-given-default analysis.

These provisional ratings are based on draft documentation and
summary terms and conditions received so far and are subject to
Moody's satisfactory review of final documentation.


Issuer: ATU Auto-Teile-Unger Handels GmbH & Co. KG

  -- Senior Secured Regular Bond/Debenture, Assigned (P)B3, LGD3,

The last rating action was implemented on September 11, 2009, when
the outlook on the Caa1 CFR was changed to negative from stable.
Measured by sales, A.T.U. Auto-Teile-Unger is Germany's leading
operator of specialist auto retail stores with integrated, brand-
independent workshops.  The group operates more than 640 retail
stores with approximately 12,500 employees, mostly in Germany but
also in Austria, Czech Republic, Netherlands, Switzerland and
Italy.  In 2009, ATU generated EUR1.2 billion of sales, of which
approximately 80% of were generated through sales of car parts and
accessories and 20% from workshop services.  ATU is owned by
private equity firm KKR and management.

                     Regulatory Disclosures

Information sources used to prepare the credit rating are these:
parties involved in the ratings, public information, confidential
and proprietary Moody's Investors Service's information,
confidential and proprietary Moody's Analytics' information.
Moody's Investors Service considers the quality of information
available on the issuer or obligation satisfactory for the
purposes of assigning a credit rating.

The rating has been disclosed to the rated entity or its
designated agents and issued with no amendment resulting from that

MOODY'S adopts all necessary measures so that the information it
uses in assigning a credit rating is of sufficient quality and
from sources MOODY'S considers to be reliable including, when
appropriate, independent third-party sources.  However, MOODY'S is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.

ATU AUTO-TEILE-UNGER: S&P Assigns Prelim. 'B-' Corp. Credit Rating
Standard & Poor's Ratings Services said it assigned its
preliminary 'B-' long-term corporate credit rating to Germany-
based repair shop and auto parts distributor A.T.U Auto-Teile-
Unger Handels GmbH & Co. KG.  The rating is subject to a
successful closing of its proposed refinancing, which will include
the issuance of ?450 million of senior secured notes and a new
revolving credit facility of ?30 million (not rated) to replace
the existing A, B, and C term loans and the existing revolving
credit facility.

In addition, S&P assigned a preliminary 'B-' issue rating to the
proposed ?450 million notes due 2014 to be issued by ATU.  S&P
also assigned a recovery rating of '4' to the bond, indicating
S&P's expectation of average (30%-50%) recovery in the event of a
payment default.

S&P will assign final ratings once S&P has received final
documentation for ATU's planned ?450 million bond issue, and when
S&P has confirmation that the bond transaction closed
successfully.  For the preliminary rating S&P has assumed a coupon
of about 10% for the ?450 million bond.

"The preliminary 'B-' corporate credit ratings on ATU reflect
S&P's view of the group's highly leveraged financial risk profile,
its very aggressive financial policy, and weak business risk
profile," said Standard & Poor's credit analyst Anna Stegert.
"However, S&P expects the company's liquidity profile, following a
successful completion of the refinancing, to be adequate, with no
maturities until the bond falls due in 2014."

In the future, S&P expects ATU's profitability to benefit from the
extensive restructuring efforts it has put in place over the past
two years.  These include significant headcount reductions and a
refocus on the core strengths of its business model: namely,
providing good quality parts of well-known brands, good service at
a low price and in a timely manner.  However, profitability will
continue to be greatly influenced by the winter tire business,
which is subject to weather conditions and can be highly
profitable in cold winters while a mild season can result in a
significant drop in ATU's fourth-quarter earnings.

As of Dec. 31, 2009, ATU had debt (as adjusted by Standard &
Poor's) of about ?1.7 billion.

"The stable outlook reflects S&P's view that ATU's expected
liquidity position post the refinancing will enable the company to
withstand pressure on its operating performance to a certain
degree," said Ms. Stegert.  "However, ATU's financial profile is
highly leveraged and S&P see limited potential for the company to
deleverage its capital structure in the absence of a significant
improvement in operating performance."


ANGLO IRISH: Ireland to Unveil Final Bailout Cost This Week
Dara Doyle and Joe Brennan at Bloomberg News report that Ireland
will disclose the final expenses of bailing out Anglo Irish Bank
Corp. this week and try to calm investors' concern that the
government may require emergency funds from the European Union.

According to Bloomberg, Finance Minister Brian Lenihan, who said
Sept. 22 that the costs will be "manageable," is scheduled to
publish the latest estimates by Oct. 1.

Bloomberg notes that while the state has pledged EUR22 billion
(US$29.6 billion) for Anglo Irish, Standard & Poor's says the
final bill may be EUR35 billion, equal to 20% of gross domestic

Bloomberg relates two people with knowledge of the matter said
Anglo Irish may need as much as EUR7 billion of additional

                         Bondholder Talks

Meanwhile, Bloomberg, citing the Sunday Times, reports Ireland's
government may seek talks with holders of EUR4 billion worth of
senior debt in Anglo Irish.

According to Bloomberg, the newspaper said the government may seek
to buy back the debt at a discount or offer to swap the debt for
equity in a new asset recovery bank being created by a split of
the lender.  Bloomberg notes the paper said the government also
may seek to buy back EUR2.4 billion of Anglo Irish subordinated
debt at a discount of as much as 90%.


Bloomberg recounts Ireland has pumped more than EUR30 billion into
the country's banks, after introducing a guarantee for all
deposits and most bank securities in September 2008 to stave off a
collapse of the financial system.

Bloomberg notes the parliament will vote tomorrow, Sept. 29, on
extending the Eligible Liabilities Guarantee, which has allowed
banks since January to issue bonds of up to five years in
duration.  That program is being extended to include short-term
corporate and interbank deposits, Bloomberg discloses.

Bloomberg says the ELG is subject to review every six months and
is scheduled to expire at the end of the year.  About EUR4 billion
of senior Anglo Irish debt loses the guarantee this week,
Bloomberg states.

Anglo Irish Bank Corp PLC --
operates in three core areas: business lending, treasury and
private banking.  The Bank's non-retail business is made up of
more than 11,000 commercial depositors spanning commercial
entities, charities, public sector bodies, pension funds, credit
unions and other non-bank financial institutions.  The Company's
retail deposits comprise demand, notice and fixed term deposit
accounts from personal savers with maturities of up to two years.
Non-retail deposits are sourced from commercial entities,
charities, public sector bodies, pension funds, credit unions and
other non-bank financial institutions.  In addition, at September
30, 2008, its non-retail deposits included deposits from Irish
Life Assurance plc.  The Private Bank offers tailored products and
solutions for high net worth clients and operates the Bank's
lending business in Ireland and the United Kingdom.

                           *     *     *

As reported by the Troubled Company Reporter-Europe on Sept. 17,
2010, Fitch Ratings affirmed Anglo Irish Bank Corporation Ltd.'s
Individual Rating at 'E'.  It also affirmed its ratings on the
bank's Lower Tier 2 Subordinated Notes at 'CCC' and Tier 1 Notes
at 'C'.

As reported by the Troubled Company Reporter-Europe on Sept. 15,
2010, Moody's Investors Service said that it is maintaining its
review for possible downgrade on the A3/P-1 deposit and senior
debt ratings, and on the Ba1 subordinated debt rating of Anglo
Irish Bank Corporation.  The junior subordinated debt is
downgraded to C from Caa2.  The backed-Aa2 rating (stable outlook)
on the government guaranteed debt, the C rating on the bank's tier
1 securities and the E bank financial strength rating -- mapping
to Caa1 on the long-term scale -- are unaffected by this rating

ARNOTTS HOLDINGS: Middle East Consortium Leads Bidding Race
Shane Ross at Sunday Independent, citing banking sources, reports
that a Middle East-led consortium is believed to be the front
runner in a queue of investors lining up to make a bid for
Arnotts, which fell into the hands of Anglo Irish Bank and Ulster

According to Sunday Independent, rival bidders for the store
include London & Regional Properties.

Sunday Independent notes the third suitor for Arnotts is
understood to be the giant US investment house Citigroup, thought
to have assembled a rival group of investors.  Sunday Independent
relates sources suggest that Citi has contacted Ulster Bank with
an expression of interest while the other two approaches have been
made to Anglo.

Anglo Irish Bank has shown little interest in selling Arnotts
despite the bank's obvious insolvency and critical need for funds,
Sunday Independent states.  According to Sunday Independent,
sources at Anglo insist that it will not be ready for a sale until
major structural changes have taken place.

As reported by Troubled Company Reporter-Europe on July 30, 2010,
The Irish Times said Anglo and Ulster took control of Arnotts
because of the store's inability to service borrowings of more
than EUR250 million.  The Irish Times disclosed the banks are the
backers of Arnotts' Northern Quarter development, which had been
put on hold indefinitely following the collapse in the property
market.  The Irish Times said a sale of the business is the exit
strategy for both institutions.  Before any such sale, loans have
to be restructured, a new management team appointed and long-term
property plans put on ice, according The Irish Times.

Established in 1843, Arnotts Holdings Ltd. is the largest
department store in the country, with a selling area of more than
27,000sq m.  It employs some 950 people and has been an anchor for
other stores on Dublin's Henry Street for over 150 years,
according to The Irish Times.

ARNOTTS HOLDINGS: Appoints Nigel Blow as New Chief Executive
Suzanne Lynch at The Irish Times reports that Nigel Blow, the
former head of Brown Thomas, will replace David Riddiford as the
chief executive of Arnotts' retail business.

The Irish Times relates Mr. Blow has been working as a consultant
to Arnotts since March.  Mr. Riddiford has been head of the
store's retail operations since 2006, The Irish Times discloses.

The appointment of Mr. Blow to lead the company's retail
operations is the latest in a series of changes to the management
structure at the company, although this is the first high-profile
change in the retail side of the business, The Irish Times notes.

As reported by Troubled Company Reporter-Europe on July 30, 2010,
The Irish Times said Anglo and Ulster took control of Arnotts
because of the store's inability to service borrowings of more
than EUR250 million.  The Irish Times disclosed the banks are the
backers of Arnotts' Northern Quarter development, which had been
put on hold indefinitely following the collapse in the property
market.  The Irish Times said a sale of the business is the exit
strategy for both institutions.  Before any such sale, loans have
to be restructured, a new management team appointed and long-term
property plans put on ice, according The Irish Times.

Established in 1843, Arnotts Holdings Ltd. is the largest
department store in the country, with a selling area of more than
27,000sq m.  It employs some 950 people and has been an anchor for
other stores on Dublin's Henry Street for over 150 years,
according to The Irish Times.

CLARENCE HOTEL: Reports Shareholders' Deficit of EUR2.58MM in 2009
------------------------------------------------------------------, citing the Sunday Tribune, reports that
turnover at the Clarence Hotel fell from EUR5.2 million in 2008 to
less than EUR3.4 million last year.

According to, shareholders' deficit at the
hotel grew to EUR2.58 million as a result of the losses.

Clarence Hotel is an upmarket Dublin hotel.  Its shareholders
include U2 members Bono and The Edge; private-equity businessman
Derek Quinlan and property investor Paddy McKillen.

FAIRLEE PROPERTIES: Owner to Take Receivership Case to High Court
-----------------------------------------------------------------, citing the Sunday Tribune's Ian Guider,
reports that Jerry Beades, a builder and developer, is to take a
Supreme Court challenge to the appointment of a receiver to his
Fairlee Properties company. relates Mr. Beades's move follows the
successful application by the company's receiver, KPMG's Kieran
Wallace, to move the case to the Commercial Court.

"I'm going to the Supreme Court with this," the Sunday Tribune
quoted Mr. Beades as saying, according to
"And I'll be representing myself.  The banks know it costs a
fortune in legal fees to go to the Commercial Court.  It is
completely unjustified."

As reported by the Troubled Company Reporter-Europe on Sept. 22,
2010, said the High Court heard that ACC Bank
court-appointed receiver, Kieran Wallace, was seeking orders for
possession of premises belonging to Fairlee Properties. disclosed Mr. Wallace was appointed by ACC Bank as
receiver to Fairlee Properties in July after the firm failed to
repay a loan of EUR1.5 million.  Mr. Beades accused ACC Bank of
using the Commercial Court as "an administrative tool" and claimed
he had been "frustrated and bullied" by the receiver, said.  On Sept. 20, 2010, Justice Frank Clarke at
the High Court agreed to Mr. Wallace's application to have the
matter transferred to the Commercial Court, the big business
division of the High Court, disclosed.

Fairlee Properties is a property developer based in Ireland.

STANTON ABS: S&P Affirms D (sf) Ratings on Three Classes of Notes
Standard & Poor's Ratings Services affirmed and then withdrew its
credit ratings on Stanton ABS I PLC's notes.

The rating actions follow a request by the issuer to withdraw
S&P's ratings on all the notes.  The class A-1, A-2, and A-3 non-
deferrable notes are in interest payment default, which occurred
on the transaction's February 2010 payment date.

The transaction's class A-4, B-1, and B-2 deferrable notes are not
in interest payment default.  However, in S&P's opinion these
notes continue to be highly vulnerable to nonpayment of principal
and interest.

S&P has therefore affirmed its existing ratings on all the notes
before withdrawing its ratings.

Stanton ABS I is in enforcement since Feb.  2, 2010, when the
trustee published a notice stating that it was enforcing its
security rights in the transaction's collateral.  The enforcement
followed an event of default in October 2009, triggered when the
transaction's class A-3 overcollateralization test ratio fell
below 96%.

According to the transaction's enforcement priority of payments,
all available proceeds in the collection accounts are used to
redeem the transaction's most senior notes at par plus accrued
interest, after payment of various senior items.  On the payment
date in August 2010, about ?16.9 million of the class A-1 notes
were redeemed, but about ?153.7 million of the notes remain

                           Ratings List

                        Stanton ABS I PLC
            ?309.5 Million Secured Floating-Rate Notes

                  Ratings Affirmed and Withdrawn

              Class         To                  From
              -----         --                  ----
              A-1           NR                  D (sf)
              A-2           NR                  D (sf)
              A-3           NR                  D (sf)
              A-4           NR                  CC (sf)
              B-1           NR                  CC (sf)
              B-2           NR                  CC (sf)

                         NR -- Not rated.

WARNER CHILCOTT: Moody's Rates US$500 Mil. Note Offering at 'B3'
Moody's Investors Service commented that there is no impact on the
ratings or outlook of Warner Chilcott Company, LLC, Warner
Chilcott Corporation, and WC Luxco S.a r.l. (subsidiaries of
Warner Chilcott plc) following the announcement that the company
would offer US$500 million of senior unsecured notes as a follow-
on to its US$750 million senior unsecured note offering of August
2010.  Moody's rates the senior unsecured notes B3.  There is no
change to the B1 Corporate Family Rating, Ba3 rating on the senior
secured credit facilities, or the SGL-1 Speculative Grade
Liquidity Rating.  The rating outlook is stable.

Headquartered in Ardee, Ireland, Warner Chilcott plc is a
specialty pharmaceutical company currently focused on women's
healthcare, gastroenterology, dermatology and urology.  For the
first six months of 2010, the company reported total revenue of
approximately US$1.58 billion.

* IRELAND: NAMA May Use Real Estate Investment Trust Model
----------------------------------------------------------, citing the Sunday Tribune's Neil Callanan,
reports that houses seized from insolvent developers may be
grouped together into a Real Estate Investment Trust (REIT) by the
National Asset Management Agency. says the trust would then be offered to the
public as an investment opportunity.

According to, Graham Emmett, NAMA's head of
lending, as cited by the Sunday Tribune, said that the agency
would look to use the REIT model to move apartment blocks it
seized off NAMA's balance sheet.  It would then use the cash flow
to pay down debt, states.


IT HOLDING: Awaits Government Approval of Prodos-Samsung Bid
Christina Passariello at The Wall Street Journal reports that
a consortium made up of American private-equity firm Prodos
Capital Management LLC and South Korean conglomerate Samsung Group
has emerged as the final bidder to buy Italian fashion house
Gianfranco Ferre, IT Holding's unit which has been in bankruptcy

Ferre's bankruptcy administrators have selected a joint bid of
less than EUR15 million (US$20.2 million) by Prodos and Samsung as
the most solid potential deal, the Journal says, citing people
familiar with the matter.

The bid, which must be approved by the Italian government, could
make Ferre the first major fashion label felled by the economic
crisis to come out the other end of restructuring, the Journal

According to the Journal, under terms of the bid, Prodos will have
a majority stake.  The Journal relates one of the people close to
the situation said Samsung's textile division will be a minority
partner and provide working capital to cover the expensive costs
of inventory and production.

As part of the deal, Prodos has committed to keeping the company's
150 employees and a factory in Bologna, Italy -- a condition that
was key because the government wants to maintain jobs, the Journal
states. I

In order for the deal to be finalized, Prime Minister Silvio
Berlusconi or the industry minister, an unfilled post, must
approve it, a step Ferre's bankruptcy administrators expect to
happen within the next two weeks, the Journal discloses.

As reported by the Troubled Company Reporter-Europe, IT Holding
was granted bankruptcy protection in February 2009 along with all
of its units after failing to make payments to lenders and

                       About IT Holding SpA

Based in Milan, Italy, IT Holding SpA (BIT:ITH) -- operates in the luxury goods market.
The company and its subsidiaries design, produce and distribute
apparel, accessories, eyewear and perfumes.  Its brand portfolio
embraces: owned brands, Gianfranco Ferre, Malo, Exte, as well as
licensed brands, Versace Jeans Couture, Versace Sport, Just
Cavalli, C'N'C Costume National and Galliano.  The company's
production facilities are located in Italy.  IT Holding SpA has a
worldwide distribution network, including 39 directly operated
stores, 274 monobrand stores and over 6,000 department and
specialty stores.  In order to be present in the most significant
markets, IT Holding SpA has dedicated market companies: ITTIERRE
and IT Asia Pacific Limited, among others.


KAUPTHING BANK: Ex-Shareholder Settles Suit Over EUR7.46MM Loan
Jane Croft and Andrew Ward at The Financial Times report that
Agust Gudmundsson has settled a lawsuit brought against him in
relation to a EUR7.46 million (US$10.1 million) loan issued by
Kaupthing, the bank in which he used to be a big shareholder.

According to the FT, a claim filed in the High Court in London
stated that Kaupthing's Luxembourg unit issued the loan in October
2007 to Mr. Gudmundsson and his wife, Thuridur Reynisdottir, to
finance the acquisition of a chalet and land in the French Alpine
resort of Chamonix.

The lawsuit was brought by Pillar Securitisation, a special
purpose vehicle that took control of Kaupthing's Luxembourg loan
book last year, the FT discloses.

The High Court claim states that in November 2007, Mr. Gudmundsson
and his wife drew down the full sum of the loan to buy the French
property, the FT recounts.

It goes on to claim that the couple failed to make a scheduled
payment of EUR30,908 due in November 2009, resulting in Pillar
declaring the loan to be in default and demanding immediate
repayment of the entire outstanding EUR6.558 million, the FT

Mr. Gudmundsson and his brother, Lydur, were the biggest
shareholders in Kaupthing through their Exista investment company,
which was also among the bank's biggest debtors, the FT notes.

                       About Kaupthing Bank

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

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

KAZAKHSTAN TEMIR: S&P Gives Positive Outlook; Keeps 'BB+' Rating
Standard & Poor's Ratings Services said that it revised its
outlook to positive from stable on Kazakhstan Temir Zholy,
Kazakhstan's national railway group and rail network owner, and
100%-owned rolling stock subsidiary JSC Kaztemirtrans.

At the same time, S&P affirmed the 'BB+' long-term corporate
credit and 'kzAA-' Kazakhstan national scale ratings on KTZ and

In addition, S&P revised the stand-alone credit profile on KTZ, to
'b+' from 'bb'.

"The outlook revision reflects S&P's view of the positive
operational and financial evolution of the KTZ group, although the
ratings remain constrained in the short term by the group's
reliance on lower-rated banks holding most of its cash position,"
said Standard & Poor's credit analyst Vincent Allilaire.  "The
affirmation of the corporate credit ratings reflects S&P's opinion
that there continues to be a "very high" likelihood that the
Republic of Kazakhstan (foreign currency rating BBB-/Stable/A-3)
would provide timely and sufficient extraordinary financial
support to KTZ in the event of financial distress.

"The ratings on KTT reflect the credit quality of KTZ because of
the economic integration and interdependency between the two
entities, and cross-default clauses and cross-guarantees linking
the entities.  As a consequence, S&P take a consolidated view of
the KTZ group."

The revision of KTZ's stand-alone credit profile reflects its view
that, although the group's business risk profile remains fair, S&P
assess its financial risk profile as aggressive.  In S&P's view,
KTZ's SACP is constrained by the group's exposure, for about two-
thirds of its cash holdings, to two local banks that S&P rate in
the 'B' category.

The fair business risk profile continues to reflect the KTZ
group's vertically integrated business model, which combines
monopoly rail infrastructure and profitable freight transport
operations; a strong market and competitive position in the
national transport sector; increasing profitability and cash flow
from operations underpinned by higher tariffs; and strong ongoing
government support.

In S&P's view, increased free cash flow generation from operations
at the group level and the gradual implementation of the capex
program, should allow the KTZ group, on a consolidated basis, to
maintain a moderate financial profile throughout the investment
phase.  S&P also believes that the likelihood of support from the
state will continue to be "very high."


GELDILUX-TS-2010: Moody's Assigns (P)Ba2 Rating on Class E Notes
Moody's Investors Service has assigned provisional ratings to this
class of notes issued by Geldilux-TS-2010 S.A.:

  -- (P)Aaa (sf) to EUR500,000,000 Class A Secured Floating Rate
      Notes due 2018

  -- (P)Aaa (sf) to EUR60,700,000M Class B Secured Floating Rate
      Notes due 2018

  -- (P)A1 (sf) to EUR24,300,000 M Class C Secured Floating Rate
      Notes due 2018

  -- (P)Baa2 (sf) to EUR4,900,000 M Class D Secured Floating Rate
      Notes due 2018

  -- (P)Ba2 (sf) to EUR6,100,000 M Class E Secured Floating Rate
      Notes due 2018

  -- (P)A1 (sf) to EUR6,000,000M Liquidity Secured Floating Rate
      Notes due 2018

                        Ratings Rationale

The ratings of the notes take account of UniCredit Luxembourg S.A.
(rated A3/P-2) and UniCredit Bank AG (A1/P-1), as the major
transaction parties in this transaction, being experienced
originators and servicers respectively.  In the past, they have
used ABS term financing via the previously issued nine GELDILUX
transactions in respect of which the securitized portfolios have
shown excellent performance to date (i.e. in total over all
transactions only 10 obligors have defaulted since 1996).  Moody's
valued positively the limitation of the potential deterioration of
credit quality during the 5-year revolving period via eligibility
criteria and portfolio limits as the portfolio turns around very
quickly (with a max. weighted average life of 90 days).
Similarly, in its analysis Moody's relied strongly on the early
amortization triggers, especially the one stopping the
replenishment period in case UniCredit Bank AG loses a minimum
long term rating of A3.  In such situation the portfolio becomes
static and -- due to the 90 days weighted average life constraint
-- amortizes quickly.  In addition, upon UniCredit Bank AG losing
a Baa2 rating obligors will be notified and are also asked to pay
directly to the issuer's account.  The liquidity cushion in the
transaction is provided by (i) the interest rate swap counterparty
(paying 0.30% of extra spread to the structure) and (ii) the
EUR6.0m issuer interest reserve, which is funded by the liquidity
note and available to fund shortfalls in respect of senior fees,
interest on the class A to E notes as well as interest on the
liquidity notes.

Moody's assigned a Composite V Score of "Medium" to this
transaction, which is in line with the German SME ABS sector.
Nonetheless, for two sub-categories Moody's considers this
transaction better than the market.  First, the originator
provided a comprehensive set of different historical data covering
more than 10 years of data.  Second, Moody's believes that the
historical data performance variability is significantly lower
than for other German SME loan receivable portfolios, which is
caused by (i) the short-term nature of the loan contracts and (ii)
the specific origination and collection process applied to this
product type.

Moody's main modeling assumption for this transaction is the
bespoke default distribution derived via the Monte Carlo
simulation in CDOROM (v2.6).  Moody's derived this default
distribution from (i) the most concentrated pool composition (with
the minimum limit of 550 obligors) that would be possible in terms
of industry and single obligor concentration during the lifetime
of the transaction (based on the portfolio limits defined in the
transaction documents), (ii) a global correlation of 5% and (iii)
the average expected portfolio quality.  Moody's expect the
average default probability of the pool to be a Baa3 / Ba1 Moody's
equivalent (translating into 0.16% cumulative default rate over 90
days) taking into account: (i) the product characteristics and the
historical performance data and (ii) potential fluctuations of the
macroeconomic environment during the lifetime of this transaction
(including the 5-year revolving period).  The average recovery
rate assumption was set at 25% in line with previous transactions
because the non-accessory collateral is not assigned to the SPV
since it is granted by the borrower on a relationship level rather
than for the euro loan specifically.  Therefore, in case of
UniCredit Bank AG's insolvency the issuer depends on recoveries
assigned by the insolvency administrator, leaving the issuer in
the position of a senior unsecured creditor.  Finally, no
prepayments were assumed because of the short-term nature of the
underlying loan receivables there are no prepayments for these
loan receivables.

For rating this transaction Moody's used this model.  (i) ABSROM
(v.2.2.6) to model the cash flows and determine the loss for each
tranche and (ii) CDOROM (v.2.6) to determine the transaction
specific default distribution.

Moody's Investors Service did not receive or take into account a
third party due diligence report on the underlying assets or
financial instruments in this transaction.

In the cash flow model Moody's modeled the initial as well as each
replenished portfolio separately with equally distributed
amortization and timing of default vectors over 90 days.
Similarly, the above described transaction specific default
distribution is applied to each portfolio when determining the
cash flows for each portfolio period.  The non defaulted amount is
used to purchase the new portfolio with the same characteristics
in terms of amortization and yield during the replenishment period
and as long as no early amortization event occurs.  Thereafter the
principal collections are used to pay down the notes.  The
ultimate losses in the portfolio are allocated to the Class A to
Class F notes in full reverse sequential order.

Moody's Parameter Sensitivities: Moody's principal portfolio model
inputs are Moody's cumulative default rate assumption and the
recovery rate.  Moody's tested 9 scenarios derived from different
combinations of mean default rate (i.e. adding a stress on the
expected average portfolio quality) and recovery rate.
Specifically, Moody's tested for the mean default rate: 0.16% as
base case, 0.21% as base case plus 30% default probability stress
and 0.26% as base case plus 60% default probability stress, and
for the recovery rate: 25% as base case, 15% as well as 5%.  The
model sensitivity output indicated that Class A would have
achieved a Aaa rating even if the cumulative mean default
probability had been as high as 0.26% (reflecting a default
probability stress of 160%), and the recovery rate as low as 5.00%
(all other factors being constant), while Class B would have
achieved a Aaa rating only in the base case scenario and a Aa1
rating or even a Aa2 rating (in case of 5% recovery rate and the
160% default probability stress).  Moody's Parameter Sensitivities
provide a quantitative / model-indicated calculation of the number
of rating notches that a Moody's-rated structured finance security
may vary if certain input parameters would change.

                     Regulatory Disclosures

The rating has been disclosed to the rated entity or its
designated agents and issued with no amendment resulting from that

Information sources used to prepare the credit rating are these:
parties involved in the ratings, confidential and proprietary
Moody's Investors Service information.

Moody's Investors Service considers the quality of information
available on the issuer or obligation satisfactory for the
purposes of assigning a credit rating.

MOODY'S adopts all necessary measures so that the information it
uses in assigning a credit rating is of sufficient quality and
from sources MOODY'S considers to be reliable including, when
appropriate, independent third-party sources.  However, MOODY'S is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.


BETULA FUNDING: Fitch Affirms 'B' Rating on Class A Notes
Fitch Ratings has affirmed and withdrawn the rating of Betula
Funding 1 B.V. class A notes, as listed below.  The transaction is
being restructured and Fitch is not rating the new transaction due
to the limited investor base.  The rating of the debt instrument
is no longer considered by Fitch to be relevant to the agency's

  -- EUR610,867,271.72 class A notes: affirmed at 'B'; Outlook
     Stable; Loss Severity 'LS-2'; withdrawn


NEW FORWARDING: Moody's Assigns 'B1' Rating on Senior Bonds
Moody's Investors Service has assigned a definitive senior
unsecured B1 bond rating on the Russian domestic RUB3 billion
9.25% bond due 2015 issued by New Forwarding Company.

                        Ratings Rationale

Moody's definitive rating on this debt obligation confirms the
provisional rating assigned on June 23, 2010.  Moody's rating
rationale was set out in a press release issued on that date.

The proceeds from the issuance were used to refinance some of
NFC's foreign currency denominated liabilities and for general
corporate purposes.

NFC is a Russian subsidiary of Cyprus-domiciled Globaltrans
Investment PLC, which is in its turn a subsidiary of
Transportation Investments Holding Ltd.  TIHL, domiciled in Cyprus
as well, and its subsidiaries form National Transportation Group
operating mainly in Russia; TIHL's/N-Trans' Corporate Family
Rating is Ba3 with stable outlook.

Cyprus-based TIHL and its subsidiaries form N-Trans, one of the
largest private rail transportation businesses and port terminal
operators focusing on Russia.  N-Trans' key business segments
(rail transportation services and port terminal operations)
consolidated under two Cyprus-domiciled subsidiaries - Globaltrans
and Global Ports Investments PLC, respectively.  N-Trans' 2009
revenue was around US$1.5 billion, with Globaltrans' contribution
of 76% and Global Ports' share of 18%.

N-Trans' ratings were assigned by evaluating factors Moody's
believe relevant to its credit profile, including i) the business
risk and market position within key business segments; ii)
management's strategy, iii) the financial profile, and iv) the
2009 performance assessment and projections over the near to
intermediate term.  These attributes were compared against other
companies both within and outside of N-Trans' key business
segments and N-Trans' ratings were believed to be comparable to
those of other issuers of similar credit risk.

                     Regulatory Disclosures

Information sources used to prepare the credit rating are these:
parties involved in the ratings, public information, confidential
and proprietary Moody's Investors Service's information.

Moody's Investors Service considers the quality of information
available on the issuer or obligation satisfactory for the
purposes of assigning a credit rating.

MOODY'S adopts all necessary measures so that the information it
uses in assigning a credit rating is of sufficient quality and
from sources MOODY'S considers to be reliable including, when
appropriate, independent third-party sources.  However, MOODY'S is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.

* IRKUTSK OBLAST: S&P Assigns 'B+' Long-Term Issuer Credit Rating
Standard & Poor's Ratings Services said it assigned its 'ruA+'
Russia national scale rating to the Irkutsk Oblast.  The 'B+'
long-term issuer credit rating is unchanged.  The outlook remains

The ratings on Irkutsk Oblast, located in Eastern Siberia, in the
Russian Federation (foreign currency BBB/Stable/A-3; local
currency BBB+/Stable/A-2; Russia national scale 'ruAAA') are based
on its view that Irkutsk's debt profile is still relatively short
term, albeit improving, as well as on the oblast's limited
financial flexibility and predictability and moderately high
contingent liabilities.

"However, the oblast has demonstrated its commitment to cost-
containment measures over the past 24 months," said Standard &
Poor's credit analyst Alexandra Balod.  "It maintains moderate
debt levels, in S&P's view, and benefits from the diversity of its
economy, which has long-term economic growth potential."

The positive outlook on the long-term issuer credit rating
reflects S&P's view that improving access to capital markets and
support from the federal government in the form of budget loans
and transfers may help the oblast to reduce its contingent
liabilities and increase necessary investments in infrastructure,
without excessively burdening its budget.

Stabilization of the oblast's operating budgetary performance at
levels achieved in the past 24 months, combined with a reduction
of contingent liabilities and a currently comfortable liquidity
position, could lead to a positive rating action.

Conversely, failure to retain an adequate liquidity position;
faster-than-planned operating-expenditure growth; or renewed
negative capital market sentiment, leading to high reliance on
short-term borrowing; could lead us to revise the outlook to


GC FTPYME: DBRS Assigns 'BB' Rating on Class B Notes
DBRS Ratings Limited ("DBRS") has assigned ratings of "AAA
(sf)" to the EUR250 million Series A1(G), "AAA (sf)" to the
EUR390 million Series A2(G), "AAA (sf)" to the EUR160 million
Series A3, "BB (high) (sf)" to the EUR200 million Class B Notes
issued by GC FTPYME SABADELL 8, F.T.A. (the "Issuer").  The
transaction is a cashflow securitisation collateralized
primarily by a portfolio of bank loans originated by Banco
Sabad0ell to Spanish small- and medium-sized enterprises
("SMEs").  The transaction has a portfolio notional amount of
EUR1,000 million.  As of August 30, 2010, the deal included 3,845
loans with an average loan size of EUR289,746.

The final ratings are based upon DBRS' review of these analytical

* Transaction structure, the form and sufficiency of available
  credit enhancement.

  -- Credit enhancement is in the form of subordination, an
     amortizing reserve funded through a subordinated loan and
     excess spread.  A current credit enhancement level of 20.0%
     is sufficient to support an "AAA (sf)" rating of the Class A

  -- Funded at the beginning of the transaction, the reserve fund,
     initially at EUR90 million or 9% of the deal balance, is
     allowed to step down to the lesser of 9% of total Notes
     issued and 18% of the outstanding principal pending payment
     of the Notes.  At no time the minimum level of the reserve
     fund is allowed to fall below 4.5% of the total amount of the
     Note issue; and

  -- The transaction will also benefit from the interest swap
     agreement that guarantees the weighted-average margin on the
     Class A, Class B Notes plus 60 basis points in excess spread;

* The ability of the transaction to withstand stressed cash flow
   assumptions and repay investors according to the terms in which
   they have invested.  For this transaction, the DBRS ratings on
   Class A Notes address the Issuer's ability to make timely
   payments of interest and principal as well as an ultimate
   payment of interest and principal on Class B Notes on or before
   the legal final maturities on June 30, 2039.  Interest and
   principal payments on the notes will be made quarterly,
   generally on the 20th of January, April, July and October in
   each year, with the first payment date on the January 20, 2011.

* The transaction parties' financial strength and capabilities to
  perform their respective duties, and the quality of origination,
  underwriting and servicing practices.

* Soundness of the legal structure and presence of legal opinions
  which address the true sale of the assets to the trust and the
  non-consolidation of the special purpose vehicle, as well as the
  consistency with the DBRS Legal Criteria for European Structured
  Finance Transactions.

DBRS made appropriate adjustments to its model parameters based on
the analysis of historical performance data provided by the
originator and servicer and incorporated the assessment of the
current economic environment in Spain.


* Fitch Affirms Ratings on Six Ukrainian Foreign-Owned Banks
Fitch Ratings has affirmed the ratings of six Ukrainian foreign-
owned banks, including their foreign currency Long-term Issuer
Default Ratings at 'B' with Stable Outlooks, reflecting the
potential for support from the banks' foreign shareholders.  The
agency has also affirmed the banks' Individual ratings at 'D/E'
for ProCreditBank (Ukraine) and 'E' for UkrSibbank, Ukrsotsbank,
Pravex, Forum and VTB Ukraine, reflecting the banks' deep asset
quality problems.  A full list of rating actions is provided at
the end of this announcement.

The banks' Long-term IDRs were upgraded on 6 July 2010 following
the upgrade of the Ukrainian sovereign and are underpinned by
potential support from their shareholders, in case of need.
However, Ukrainian transfer and convertibility risks, as reflected
in the Country Ceiling ('B'), could limit the extent to which
these banks can utilize this support.

The banks' Individual ratings reflect considerable deterioration
in asset quality, a trend that has also been common to other banks
in the sector, following the large depreciation of the UAH in Q408
and the sharp economic downturn in 2009.  Each of the reviewed
banks has reported high levels of NPLs (loans overdue by more than
90 days) and/or prolonged/restructured loans; in aggregate, these
loans totalled around 37-67% of the loan portfolios of each of the
banks at end-H110.  ProCredit Ukraine's higher Individual rating
reflects the bank's materially lower level of NPLs (6% compared to
26-41% at peers), although restructured loans were in line with
those of other banks.  Pre-impairment profitability has also come
under pressure at some of the banks due to a combination of weak
loan book performance, deleveraging and reduced scale.
Furthermore, uncertainty exists about whether all of the banks
will ultimately be able to develop sustainable and profitable
business models in a post-crisis environment.

At the same time, Fitch notes that the banks have partially
addressed asset quality weaknesses by building up loan impairment
reserves and receiving new capital injections.  These measures
have improved loan loss absorption capacity to varying degrees at
each of the banks, although this may still prove insufficient
given the scale of impairment problems.  The agency also notes
that the pace of reported asset quality deterioration has slowed
significantly in 2010, while the macro environment is now more
benign (Fitch forecasts GDP growth of 5% in 2010 compared to a
contraction of 15% in 2009).  Also, strong deposit inflow from
Q309 has strengthened liquidity positions and somewhat reduced
dependence on parent funding.  If the banks continue to strengthen
their capital positions, including through already announced
equity injections, while demonstrating stabilization or
improvement in asset quality trends in a broadly favorable macro
environment, then the banks' Individual ratings could be upgraded.
However, further weakening of asset quality or recapitalization
efforts that are insufficient relative to loan impairment problems
could result in the Individual ratings remaining at their current
low levels.

UkrSibbank is 81%-owned by France's BNP Paribas ('AA-'/Stable);
Ukrsotsbank is 95.48%-owned by Italy-based UniCredit S.p.A.
('A'/Negative) through its Vienna subsidiary UniCredit Bank
Austria AG ('A'/Stable); Forum is majority-owned (94.52%) by
Germany's Commerzbank AG ('A+'/Stable); ProCredit Ukraine is 60%-
owned by Germany's ProCredit Holding AG ('BBB-'/Stable); Pravex is
100%-owned by Italy's Intesa Sanpaolo S.p.A. ('AA-'/Stable); and
VTB Ukraine is more than 99%-owned by Russia's JSC Bank VTB

In Fitch's rating criteria, a bank's standalone risk is reflected
in Fitch's Individual ratings and the prospect of external support
is reflected in Fitch's Support ratings.  Collectively, these
ratings drive Fitch's Long- and Short-term IDRs.

Rating actions:

JSC UkrSibbank:

  -- Long-term foreign currency IDR: affirmed at 'B'; Outlook

  -- Senior unsecured debt: affirmed at 'B'; Recovery Rating 'RR4'

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

  -- Short-term foreign currency IDR: affirmed at 'B'

  -- Support rating: affirmed at '4'

  -- Individual rating: affirmed at 'E'

  -- National Long-term rating: affirmed at 'AAA(ukr)'; Outlook


  -- Long-term foreign currency IDR: affirmed at 'B'; Outlook

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

  -- Short-term foreign currency IDR: affirmed at 'B'

  -- Support rating: affirmed at '4'

  -- Individual rating: affirmed at 'E'

  -- National Long-term rating: affirmed at 'AAA(ukr)'; Outlook

Pravex Bank:

  -- Long-term foreign currency IDR: affirmed at 'B'; Outlook

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

  -- Short-term foreign currency IDR: affirmed at 'B'

  -- Support rating: affirmed at '4'

  -- Individual rating: affirmed at 'E'

  -- National Long-term rating: affirmed at 'AAA(ukr)'; Outlook

Bank Forum:

  -- Long-term foreign currency IDR: affirmed at 'B'; Outlook

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

  -- Short-term foreign currency IDR: affirmed at 'B'

  -- Support rating: affirmed at '4'

  -- Individual rating: affirmed at 'E'

  -- National Long-term rating: affirmed at 'AAA(ukr)'; Outlook

ProCredit Bank (Ukraine):

  -- Long-term foreign currency IDR: affirmed at 'B'; Outlook

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

  -- Short-term foreign currency IDR: affirmed at 'B'

  -- Short-term local currency IDR: affirmed at 'B'

  -- Support rating: affirmed at '4'

  -- Individual rating: affirmed at 'D/E'

  -- National Long-term rating: affirmed at 'AAA(ukr)'; Outlook

JSC VTB Bank (Ukraine):

  -- Long-term foreign currency IDR: affirmed at 'B'; Outlook

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

  -- Short-term foreign currency IDR: affirmed at 'B'

  -- Support rating: affirmed at '4'

  -- Individual rating: affirmed at 'E'

  -- National Long-term rating: affirmed at 'AAA(ukr)'; Outlook

U N I T E D   K I N G D O M

1ST DENTAL: Blames HM Revenue for Being Forced Into Administration
1st Dental Laboratories has partly blamed the UK tax collector, HM
Revenue & Customs, for being forced into administration, Reuters
reports citing The Times.

According to the report, 1st Dental made a profit in the first
half of the year but was hit by lower trading in the second half
and was hoping for a recovery that never came.  The report relates
that the company's collapse follows shortly after architecture
practice Archial Group also fell into administration after
receiving a winding-up petition from HMRC.

1st Dental Laboratories is a dental services firm.

A1 PAPER: Goes Into Administrative Receivership
Helen Morris at reports that A1 Paper has gone into
administrative receivership following the appointment of
insolvency practitioners Grant Thornton to the company.  The
report relates that administrators Jeremy Birch and David Bennett
were appointed to the company on September 8, 2010.

According to, a statement on the company's Web site
said that the "affairs, business and property of A1 Paper" were
being handled by the administrators.

Meanwhile, the report notes, fellow AIMS paper merchant GFSmith
has disclosed that Mike Wheat, the former managing director of A1
Paper, is to join the business with immediate effect.  The report
relates that GFSmith added that a number of key members of Mr.
Wheat's team at A1 Paper will also be joining GFSmith.

                         About A1 Paper

Paper merchant A1 Paper is an independent business that was formed
40 years ago.  The company is a member of the Associated
Independent Merchant Stockists (AIMS).

APL DEVELOPMENTS: Owes GBP3.5 Million to Banks
APL Developments owes its banks more than GBP3.5 million, BBC News
reports, citing documents filed at the government agency for
registering businesses.  APL Developments was placed into
administration in July.

BBC News notes the property crash left all its sites in negative

BBC News states that APL Developments owes GBP3.3 million to
Ulster Bank and GBP273,000 to Bank of Ireland, according to
documents filed at Companies House.  The company also owes
GBP65,000 to Revenue and Customs, the report adds.

According to BBC News, the administrator has appointed an agent to
value the company's assets; land and property at six sites in
County Tyrone and a farm in County Donegal.

Earlier this month, BBC News relates, one of the firm's properties
was badly damaged in a fire for which the administrator will have
to submit an insurance claim.

APL Developments is a County Tyrone development company that
operated from Castlecaufield Road in Donaghmore.

BOYES CONNING: In Liquidation; Tinnelly Transport Buys Firm
Gareth Lewis at Southern Daily Echo reports that Boyes Conning
Freight Services Ltd. has collapsed leaving more than 130
creditors, most from Hampshire, left out of pocket.  The company
reportedly owes creditors about GBP1.7 million.

According to the report, staff are among the biggest losers and
are owed more than GBP226,000, which they are unlikely to receive
after liquidators reported just GBP16,338 is in the pot for

The Daily Echo says dozens of workers still have their jobs after
Irish firm Tinnelly Transport stepped in.

The report says Tinnelly has bought the goodwill of Boyes Conning,
vowed to take on staff, and is in negotiations over the West End
depot in a bid to ensure a "long and fruitful future".

The announcement ends the confusion dogging Boyes Conning since it
somehow continued to trade despite the collapse of the business
and subsequent liquidation, The Daily Echo adds.

Boyes Conning Freight Services Ltd. is a Southampton-based freight
transport firm.

CONNAUGHT PLC: City Halls Faces Call for Inquiry Into Collapse
Shaun Lowthorpe at Norwich Evening News 24 reports that ministers
are being urged to do all they can to help workers who lost their
jobs in the Connaught Plc collapse -- as City Hall faces calls to
hold an independent inquiry into the letting of the GBP17.5-
million contract.

The report relates that more than 300 people lost their jobs
earlier this month when the firm went into administration.

Now the city council is in talks with another firm in the hope
that they can take on the GBP17.5-million contract to carry out
maintenance and repairs on the city's 17,000 council homes, Mr.
Lowthorpe writes.

According to the report, Norwich North MP Chole Smith said she had
written to ministers to ask urgently that all available help is
available to workers and to make sure that Jobcentre Plus can
begin paying benefits as soon as is reasonably possible to any
redundant workers.  "Firstly, obviously the most devastating
impact of Connaught's collapse is on the workers," the report
quoted Ms. Smith as saying.  "I have spoken to workers and union
representatives and the immediately important thing is to make
sure that they get their dues from the administrators and the
council.  I have been told that some constituents face a further
delay of four weeks in accessing benefits, which is hitting hard
considering the shock of redundancy. I am asking the government to
act as fast as possible in that area.  Secondly, everyone in the
city now expects the city council to act quickly, but effectively
to get services back on their feet. There are a lot of experienced
hands who are now supposedly redundant and I hope that the council
ensures they are first in the line for continuing the work that
needs to be done around the city.  Finally, people are
disappointed and angry that the council has let them down and they
want answers to the big questions: was this contract justified,
and who knew what, when about Connaught's finances?" she added.

Meanwhile, Norwich Evening News relates Lib Dem councillor Judith
Lubbock, who was a member of the contracts working party which
recommended the deal to the ruling executive, is to press for a
full independent inquiry in to how the original Connaught contract
was let.

"A full independent inquiry is the only way to get to the bottom
of what if anything went wrong with the letting process and to
restore public confidence in the council" the report quoted Mrs.
Lubbock as saying.  "The council owes it to the hundreds of
workers who lost their jobs and the tenants who have been left in
the lurch.  We cannot sweep this under the carpet; we need to know
whether the process was sound and most importantly we need to make
sure it is fit for purpose for letting contracts in the future.
Learning any lessons will make the cost of an inquiry worthwhile"
she added.

Norwich Evening News notes that Mrs. Lubbock's call is also being
backed by Norwich South MP Simon Wright.

"The period since the collapse of the Connaught contracts has been
dreadful for Norwich," the report quoted Mr. Wright as saying.
"The city council must ensure that any lessons that might come
from this are learned so that it never happens again. A full,
independent investigation must review the discussions and advice
that led to the contracts being awarded, and to confirm whether
due diligence was applied," he added.

However, Norwich Evening News notes, Alan Waters, executive member
for corporate resources and chairman of the contracts working
party, said: "I am very surprised at these comments and if Simon
Wright would like to know more about the letting of these
contracts, perhaps he should ask Judith Lubbock.  She was a member
of the contracts working party which made the recommendation to
award to Connaught and attended 11 of its 13 meetings.  All
political parties were represented on it.  "This whole process was
open and transparent and subject to independent assessment and an
external specialist advised the council throughout.  A detailed
report setting out the letting of these contracts will be
presented in public at full council on September 28, 2010," he

                      About Connaught plc

Connaught plc -- is a United
Kingdom-based company engaged in the provision of integrated asset
services to the public and private sectors.  The Company operates
in two business segments: social housing and compliance.  Social
Housing segment provide social housing landlords throughout the
United Kingdom with a range of planned and response maintenance
services, as well as compliance and estate management.  The
Compliance segment provides safety, health and risk management
solutions.  It has information, advisory, training and servicing
capabilities to provide integrated compliance solution throughout
the United Kingdom.  On July 22, 2009, the Company completed the
acquisition of UK Fire (International) Limited and Igrox Limited.
On September 15, 2008, the Company completed the acquisition of
Lowe Group Holdings Ltd.  On November 26, 2008, the Company
completed the acquisition of certain assets of Predator Pest
Control Plc.

CONNAUGHT PLC: Repair Workers' Jobs Fixed by Paradigm Maintenance
Camilla Goodman at reports
that Connaught plc's 157 staff members who worked at the Chesham
branch will be transferred to Paradigm Maintenance Services.  The
report relates that there were fears of mass job losses at the
company after it recently went into administration.

According to the report, Paradigm Housing said that they have
reacted "swiftly" to secure its repairs and maintenance service
and save jobs following the administration of its maintenance
contractor, Connaught Plc.  The report relates that during the
weeks of uncertainty when Connaught's share price rapidly lost
value, Paradigm's management drew up detailed contingency plans
and decided that the best way to achieve continuity of high-
quality service for Paradigm customers was to transfer all staff
within the local Connaught operation into a new company.

The creation of the new company also avoided the maintenance
service being passed to a contractor Paradigm did not choose, the
report says.

                        About Connaught plc

Connaught plc -- is a United
Kingdom-based company engaged in the provision of integrated asset
services to the public and private sectors.  The Company operates
in two business segments: social housing and compliance.  Social
Housing segment provide social housing landlords throughout the
United Kingdom with a range of planned and response maintenance
services, as well as compliance and estate management.  The
Compliance segment provides safety, health and risk management
solutions.  It has information, advisory, training and servicing
capabilities to provide integrated compliance solution throughout
the United Kingdom.  On July 22, 2009, the Company completed the
acquisition of UK Fire (International) Limited and Igrox Limited.
On September 15, 2008, the Company completed the acquisition of
Lowe Group Holdings Ltd.  On November 26, 2008, the Company
completed the acquisition of certain assets of Predator Pest
Control Plc.

E-CLEAR: Owes Creditors GBP27 Million More Than Estimated
Jeff Salway at The Scotsman reports that the payment processing
firm, E-Clear, blamed for the collapse of Scottish airline
Flyglobespan owes creditors nearly GBP30 million more than
previously estimated.

According to The Scotsman, creditors now claim that E-Clear owes
GBP127 million in unpaid debts, up from the GBP100 million
previously identified.  The report says that accountancy firm BDO,
which was appointed as administrator of E-Clear, has now embarked
on legal action to recover money that had been loaned from E-Clear
to its owner, Elias Elia.

The Scotsman relates E-Clear has realized cash and assets of just
GBP170,000, according to the latest creditor's report from BDO,
which said the High Court action was being launched after an
investigation into Elia's loan account.

The report notes Globespan claims that the GBP35 million it was
owed in withheld payments by E-Clear was responsible for the
cashflow crisis that crippled the airline, which had made a GBP1.3
million profit in 2008 after a GBP13 million loss the previous

It is claimed that E-Clear, which is also under investigation by
the Serious Fraud Office, also owed more than GBP50 million to
customers of Zoom and XL for booked travel they could no longer
take when the firms went bust in late 2008, The Scotsman adds.

As reported by the Troubled Company Reporter-Europe on Jan. 21,
2010, Mr. Justice Vos at the High Court on Jan. 19 approved the
order for the administration of E-Clear, following the failure of
the company to submit evidence of funds on Jan. 15.  BDO was
appointed administrator.  According to the Times, papers shown to
the High Court in London on Jan. 19 said that E-Clear had less
than GBP10 million in two bank accounts, while the personal
account of Mr. Elia was empty.  The Times disclosed Simon
Mortimer, QC, for PwC, said that E-Clear had not complied with an
order made by the court to prove that it had the GBP35 million
owed to Scottish airline Globespan, the Times said.  E-Clear's
role was to process credit card payments made mainly by
holidaymakers and eventually to pass the money collected to travel
companies such as Globespan, according to the Times.  However, at
some point last year the payments to travel firms dried up,
causing many to collapse, the Times said.

HALTON LEA: Receivers Put Up Runcorn Shopping Centre for Sale
Mark Smith at Runcorn and Widnes Weekly News reports that Halton
Lea's receiver, Savills Commercial Ltd, has put up the company's
shopping center in Runcorn for sale on the market with a guide
price in the region of GBP27.8 million.

As reported in the Troubled Company Reporter-Latin America on
September 25, 2009, BBC News said that that Halton Lea Shopping
Centre has been put into receivership.

According to Runcorn and Widnes Weekly News, Savills Commercial
had been brought in to run the Runcorn after it fell into
difficulties last year.  The report relates that the firm took
over the management of the site and began collecting rents.  The
center has continued to trade and a number of initiatives have
been rolled out to try to improve business, the report says.

The Runcorn and Widnes Weekly News notes that Savills Commercial
said that the sale will not affect the day-to-day trading of the
center or the staff who work there, adding that the retailers will
continue to trade in accordance with their existing leases.

The report relates Julian Clarke, one of the receivers, said:
"Halton Lea Shopping Centre is an established retail centre with
loyal customers which has been positively managed for the past
year.  A change of ownership will further drive the centre forward
as it continues to be the premier retail destination in Runcorn,
providing the residents with a wide range of shopping

                       About Halton Lea

Halton Lea shopping center was officially opened by the Queen in
1972.  It was built by developer Grosvenor in partnership with
Runcorn Development Corporation for GBP10 million.

KNOWLEDGE ZONE: Set to be Placed in Voluntary Liquidation
Cowes-Based digital publishing firm, The Knowledge Zone, is set to
go into voluntary liquidation, David Newble at the Isle of Wight
County Press reports.

The report notes the company, run by sailing author, Steve
Sleight, has requested it is placed into creditors' voluntary
liquidation by Coventry-based insolvency firm, BRI.

The Isle of Wight County Press relates a meeting of creditors has
been convened for Thursday and a meeting of the firm's
shareholders has also been convened at which a resolution for
voluntary winding-up is to be proposed.

The Knowledge Zone is a publishing company.  The company publishes
the Cowes Port Handbook, operates Cowes Online and Cowes TV as
well as the iZone network of high-definition screens located in
Cowes, Isle of Wight.  In 2009, the firm won a three-year contract
to look after the Isle of Wight Chamber of Commerce, Tourism and
Industry's Island Business publication.

LEHMAN BROTHERS: LBIE Extends Proofs of Debt Deadline
On June 16, 2010, the Joint Administrators of Lehman Brothers
International Europe announced that they would be testing the
feasibility of the Consensual Approach to the resolution of LBIE's
unsecured creditor claims.

LBIE also informed claimants that if they wished to be considered
for the Consensual Approach, they would need to submit a proof of
debt.  The expectation at the time was that, if the Consensual
Approach was formally launched later this year, a creditor would
need to submit a proof of debt before September 17, 2010, to be
considered for participation.

LBIE has since made significant progress in engaging with
creditors and the Joint Administrators have been greatly
encouraged by the extent of positive interest in the Consensual

Over the last few weeks, LBIE has both solicited and received
feedback from counterparties regarding the proposed Consensual
Approach.  A consistent request from many counterparties has been
to extend the deadline of September 17, 2010, in particular given
the complexity of many creditors' positions.  Accordingly, the
Joint Administrators have agreed, in conjunction with the
Unsecured Creditors' Resolution Working Group, a working group
which includes members of the creditors' committee, that the
September 17, 2010 deadline for proof submission will be extended.

The Joint Administrators continue to develop the Consensual
Approach.  In consultation with the UCRWG, they are currently
considering an appropriate date to set as a revised deadline.
The Joint Administrators are also reviewing feedback from
counterparties to assess whether any other refinements may be
desirable in order to proceed.

The Joint Administrators will communicate further developments
regarding the Consensual Approach in their 4th Progress Report,
including an update on the period of extension that will be
allowed for submission of proofs, unless that has been separately
communicated in the intervening period.  The 4th Progress Report
is due to be published on October 14, 2010.  In the meantime,
LBIE's counterparties should continue to finalize their submission
of proofs of debt as soon as possible, as these will be required
in order to comply with the revised timetable, when announced.

Anyone who has questions regarding this update may contact the
Counterparty Communications and Management team at

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase
of Lehman Brothers' North American investment banking and
capital markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also bought
Lehman's operations in the Asia Pacific for US$225 million.

                 International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
( 215/945-7000)

LEHMAN BROTHERS: PwC to Appeal UK Court Ruling on Payout
PricewaterhouseCoopers LLP is set to appeal against a United
Kingdom court ruling that foiled plans to return around
$2 billion of cash to secured creditors, according to a
September 12, 2010 report by

Last month, the U.K. Court of Appeals handed down a ruling that
hedge funds and other unsecured creditors of Lehman Brothers
International Europe should also share the cash.

Fund managers and Lehman account holders would get reduced
payouts from PWC if it failed to get the CA ruling overturned,
Express reported.

The LBIE administrator has yet to make an official announcement
but it will reportedly file the appeal before the September 23
deadline and take its case to the Supreme Court, according to the

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase
of Lehman Brothers' North American investment banking and
capital markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also bought
Lehman's operations in the Asia Pacific for US$225 million.

                 International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
( 215/945-7000)

LUMINAR GROUP: Downplays Debt Breach Fears; 1st Half Sales Down
Luminar Group has dismissed fears it is about to breach the terms
of its banking covenants after reporting a slump in sales during
the first half of the year, Jamie Dunkley writes for The Daily

According to The Daily Telegraph, the company, which owns the
Liquid and Oceana nightclub chains, said it had a net operating
cash inflow during the period ending August and had made GBP3.7
million from the sale of four properties -- enabling it to
continue to trade within the terms of its existing banking

The Daily Telegraph relates in a short trading update, Luminar
revealed sales had fallen by 20.2% across its 76 clubs with
admission revenue down by 26.5% and customer numbers down 19.1%.

Luminar was forced to issue three profit warnings during its last
fiscal year, leading to the departure of chief executive and
founder Stephen Thomas in March, The Daily Telegraph recounts.

Shares in the company have fallen by almost 90% over the past
year, The Daily Telegraph discloses.

As reported by the Troubled Company Reporter-Europe on June 22,
2010, the Financial Times said Luminar was close to appointing
Deloitte to consider strategic options for a restructuring of its
debts, including a potential resetting of covenants.  Luminar has
net debt of GBP100.6 million, according to the FT.  The FT
disclosed in May, Luminar warned that it could breach covenants
linked to its debt should trading deteriorate further as it
reported a 78% drop in underlying profits to GBP4.4 million for
the year to February.

Based in Milton Keynes, United Kingdom, Luminar Group Holdings plc
-- is engaged in the ownership,
development and operation of nightclubs and themed bars.  Its main
branded venues are Oceana, Liquid, and Lava & Ignite.  The
Company's product brands include Big Night Out, Vibe, Red Carpet
Moments and UK Club Culture (UKCC).  Oceana has five bars, two
clubs, and one amazing night.  The Liquid brand has a main room
with lighting, sound and laser technology.  Liquids also have a
secondary room called envy.  Envys provide clubbers with music
varying from disco to rhythm and blues (RnB) and the like.  Lava &
Ignite has a classic twin-scene format.  The main room includes
sound and lighting technology, and can be transformed to a venue
for corporate events, live music and televised sporting events.
Life caters to local pub, local club and local people.  Life is a
bar and club concept.  It is designed to fit into smaller towns.
The Company's subsidiaries include Luminar Holdings Limited,
Luminar Oceana Limited, and Luminar Lava Ignite Limited.

MCDAID DEVELOPMENTS: Collapse Costs Bank of Ireland GBP36 Million
McDaid Developments (Ireland) Ltd's company is set to cost Bank of
Ireland almost GBP36 million, BBC News reports.  McDaid
Developments was placed into administration in June this year.

According to the report, the administrators report, filed at
Companies House, showed McDaid Developments owed the bank more
than GBP42 million.  The administrator, however, estimates that
the sale of the firm's remaining assets will raise less than GBP8
million, the report relates.

BBC News notes that in addition to the bank debt, the firm owes
almost GBP800,000 to smaller unsecured creditors, many in Donegal.
The administrator has warned that none of this money is likely to
be repaid, the report relates.

The company's last set of accounts for the year ending November
2008 showed it lost more than GBP6 million in that time, compared
to a GBP500,000 loss the year before, BBC News reports.

BBC News discloses that a note in those accounts showed that the
firm's owner, Peter McDaid, had personally guaranteed at least
some of the company's borrowings.

Last week, leading bankers told a Stormont committee that the
property development sector was still experiencing major
difficulties, the report adds.

                   About McDaid Developments

McDaid Developments (Ireland) Ltd is a Londonderry-based housing
development company.  The company, which had its registered office
at Clooney Terrace, did much of its business in County Donegal but
also had land or developments in Derry, Cavan and Longford.

NORTH SHROPSHIRE: Former Head Jailed for Stealing GBP19,000
North Shropshire Voluntary Action former chief officer Louise
Stoke has been sentenced to 10 months in jail for stealing
thousands of pounds from the charity, causing it to collapse, BBC
News reports.  The report relates that Ms. Stokes pleaded guilty
to stealing more than GBP19,000 from the charity.

According to the report, the charity employed two other people and
helped community groups and volunteers before it went into
administration in 2009.

The report notes that the court heard that Ms. Stokes, a single
mother, committed fraud to support her children.  The report says
that Robert Edwards, prosecuting, said Ms. Stokes had
electronically transferred the money into her own account between
April 1, 2007 and March 31, 2008, and April 1, 2008, and March 31,

All of the trustees are being investigated as a result of the
fraud, the report adds.

North Shropshire Voluntary Action is a charity in Shropshire.

ROYAL BANK: JPMorgan Chase in Talks to Buy Power Trading Book
Gregory Meyer and Helen Thomas at The Financial Times report that
JPMorgan Chase is in talks to acquire another part of RBS Sempra
Commodities, the trading group partly owned by Royal Bank of
Scotland, after the US bank bought the bulk of the business
earlier this year.

According to the FT, people familiar with the matter said the deal
could lead JPMorgan to buy the group's North American gas and
power trading book, with another buyer taking the people and
systems associated with the business.

Among those said to be considering acquiring the remaining RBS
Sempra infrastructure is Societe Generale, the French bank that
has been expanding its presence in North American commodities, the
FT notes.

The FT relates people familiar with the deal said JPMorgan was the
frontrunner to buy the gas and power trading book, having paid
US$1.6 billion for RBS Sempra's global oil, metals, coal and
European power and gas business earlier this year.

                            About RBS

The Royal Bank of Scotland Group plc (NYSE:RBS) -- is a holding company of The Royal Bank of
Scotland plc (Royal Bank) and National Westminster Bank Plc
(NatWest), which are United Kingdom-based clearing banks.  The
company's activities are organized in six business divisions:
Corporate Markets (comprising Global Banking and Markets and
United Kingdom Corporate Banking), Retail Markets (comprising
Retail and Wealth Management), Ulster Bank, Citizens, RBS
Insurance and Manufacturing.  On October 17, 2007, RFS Holdings
B.V. (RFS Holdings), a company jointly owned by RBS, Fortis N.V.,
Fortis SA/NV and Banco Santander S.A. (the Consortium Banks) and
controlled by RBS, completed the acquisition of ABN AMRO Holding
N.V. (ABN AMRO).  In July 2008, the company disposed of its entire
interest in Global Voice Group Ltd.

                          *     *     *

As reported by the Troubled Company Reporter-Europe on March 29,
2010, Standard & Poor's Ratings Services said that it lowered its
ratings on "may pay" Tier 1 securities issued or guaranteed by The
Royal Bank of Scotland Group PLC (A/Stable/A-1) to 'C' from 'CC'.
At the same time, the rating on the RBSG-related security issued
by Argon Capital PLC was similarly lowered to 'C' from 'CC'.  The
counterparty credit ratings and stand-alone credit profiles of
RBSG and subsidiaries, and the ratings on other debt securities
issued by these entities, were unaffected.

SIMCLAR GROUP: Liquidators Continue Legal Fight in November
Mark Williamson at The Herald Scotland reports that liquidators to
the Simclar Ayrshire business that Sam Russell put into
administration in 2007 will continue their multi-million pound
legal battle with the wealthy entrepreneur in November.

According to the report, lawyers for the liquidators and
Mr. Russell's Simclar Group agreed to reconvene in six weeks for a
hearing that could pave the way for his actions to come under
lengthy scrutiny in court.  The report relates that it is
understood that the liquidators, from PricewaterhouseCoopers, are
seeking the recovery of dividends they claim were paid unlawfully
by Simclar Group in 2006.

A court was told that the original claim has been amended to
include GBP18 million in respect of the transfer of the ownership
of a Chinese subsidiary -- from Simclar Ayrshire to the group, The
Herald notes.

The Herald previously reported that Simclar Group had filed
accounts for 2006 in which it disclosed the group holding company
had paid GBP200,000 dividends during the year that were
"technically unlawful".  They were unlawful because the holding
company had run up losses, the report relates.

In the accounts Simclar Group said a similar payment had been made
in 2007, the report says.  The group became mired in controversy
that year after closing plants in Irvine and Kilwinning with the
loss of 420 jobs, the report relates.

The Herald relates that a commercial action, which named Mr.
Russell, Simclar Group and two group directors, was launched by
experts from PWC has been in progress for months.

At a hearing in the Court of Session, the report says, lawyers for
both sides were given time to formalize their positions before
reconvening for a procedural hearing.  The report relates that the
counsel for the liquidators told Lord Hodge he expected that a
procedural hearing would be followed by a six-day proof.  The
actions of the parties named in the case would then be considered
in detail, the report adds.

The report notes that Companies House records show that Simclar
Group has not filed accounts for 2007, which it was due to file by
October 31, 2008.

In June 2008, Mr. Durie told The Herald that Simclar could have
made dividend payments from subsidiary operations to the group
holding company that would have covered the payments it made to

                     About Simclar Group

Headquartered in Dunfermline, Scotland, The Simclar Group -- is a global solutions provider,
offering complete manufacturing and fulfillment services to

TARGETFOLLOW ESTATE: Forced Into Administration
Hugo Duncan at Mail Online reports that Targetfollow Estate owner
Iranian businessman Ardeshir Naghshineh launched last week a
blistering attack on Lloyds Banking Group as his property firm,
Centre Point tower in London, battles to stay afloat.

According to the report, Targetfollow Estate looks set to be
forced into administration by the taxpayer-supported bank, Lloyds
Banking Group, over GBP700 Million of debt.  The report relates
that the company cannot meet interest payments on the loan or
repay it in full because the value of its properties crumbled
during the financial crisis and are now worth less than the
outstanding debt.

After months of talks, Mail Online notes Lloyds Banking is
understood to have insisted the firm flog its assets to pay back
the loan.  The report relates that it comes as the bank begins to
deal with tens of billions of pounds of duff loans approved by
Peter Cummings, the former corporate chief at HBOS which was
bought by Lloyds in 2008.

"Of course, we understand that Lloyds is under pressure from the
government to raise the funds to pay back its bail-out, and we
want to do what we can to help and maintain a positive
relationship with our bankers.  But the way they are handling this
makes no sense to me.  The bank's insistence on immediate sales of
assets, under the permanent threat of administration, has
naturally driven down their value, whereas a fair and orderly sale
process, with a reasonable amount of time to market the
properties, would maximise the value and be far better not just
for us but also for the bank and ultimately the taxpayer," Mail
Online quoted Mr. Naghshineh as saying.

The report says that Lloyds Banking has valued Targetfollow's
assets at just GBP450million.  The company claims they are worth
nearer GBP680million, the report relates.

"The whole UK property industry is watching the situation very
closely.  Any indication that [Lloyds] is starting a process of
offloading [assets] at fire-sale prices will hit the property
market very hard indeed, just as the recovery is underway.  We
have presented a large number of viable solutions to Lloyds but
they have all been rejected out of hand.  'Still, we have no
intention of giving up, particularly as the independent valuations
of our properties far exceed those put forward by Lloyds'
valuers," Mail Online quoted Mr. Naghshineh as saying.  "Sales and
offers in the past few months show that, if anything, the
independent valuations were on the conservative side," he added.

The report adds that Lloyds Banking is thought to have put
Deloitte on standby to handle the administration.

Targetfollow Estate is a property developer.

* UK: Leisure and Hotel Industry Insolvency Rate Continues to Fall
The number of hotel and leisure businesses going bust continued to
fall in August, in line with the improving national insolvency
trend, reports citing services company Experian.

Experian's Insolvency Indexform showed the positive trend of fewer
hotel and leisure insolvencies in the past months also continued
in August, with 105 failures compared with 108 in July, and as
many as 129 back in April of this year, according to

Year-on-year the insolvency rate in August was 16% better than
August 2009 when 122 hotel and leisure businesses went under in
the depths of the UK recession, the report adds.

The leisure and hotel industry also showed the largest increase in
financial strength within the index, going from 78.10 up to 79.34.
This compares with a national financial strength score for all
industries in August of 81.06, the report notes.

Nationally, the insolvency rate for all industries last month hit
a three-year low with 1,391 UK businesses failing in the month,
the report relates.


* 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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