/raid1/www/Hosts/bankrupt/TCREUR_Public/111004.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

           Tuesday, October 4, 2011, Vol. 12, No. 196

                            Headlines



A U S T R I A

A-TEC INDUSTRIES: Shares Suspended Following Liquidation


B U L G A R I A

ALMA TOUR: Creditors Appoint New Manager


D E N M A R K

* DENMARK: To Provide DKK400-Bil. Liquidity Lifeline to Banks


G E R M A N Y

VAC FINANZIERUNG: Moody's Withdraws B3 Corporate Family Rating
VOLVO AUTO: Moody's Lowers Long-term Deposit Ratings to 'Ba2'


G R E E C E

YIOULA GLASSWORKS: Moody's Lowers Corp. Family Rating to 'Caa2'

* GREECE: Passes New Budget Backed by International Creditors


H U N G A R Y

* HUNGARY: To Commence Talks with Creditors of 19 Counties


I R E L A N D

BACCHUS 2007-1: Moody's Affirms 'Ba3' Class B Notes Rating
EUROCREDIT CDO V: Moody's Raises Rating on Class E Notes to 'Ba3'
EUROCREDIT CDO VIII: Moody's Lifts Rating on Class E Notes to B1
QUINN INSURANCE: Loses Half of Clients Since Administration


K A Z A K H S T A N

BMB MUNAI: Announces Cash Distribution of US$1.04 Per Share
KAZAKHSTAN MORTGAGE: Moody's Lowers Local Issuer Rating to 'B2'


L U X E M B O U R G

LYONDELL CHEMICAL: Len Blavatnik Scored US$1.2BB in Buyout


N E T H E R L A N D S

OPERA FINANCE: S&P Lowers Rating on Class A Notes to 'CCC-'


P O L A N D

* POLAND: Corporate Bankruptcies Up 4% in Third Quarter 2011


S L O V E N I A

ARGON CAPITAL: Moody's Reviews Ba1 Rating for Possible Downgrade


S P A I N

AYT CAIXANOVA: Moody's Assigns 'B3' Rating to Class C Notes

* SPAIN: Bank of Spain Takes Over Three More Lenders


S W E D E N

SAAB AUTOMOBILE: Parent Inks Deal to Sell Spyker to North Street


U N I T E D   K I N G D O M

ADDERLEY CARE: Accounting Firm Still Searches for Buyer
ALEXON GROUP: Sun European Buys Distressed Firm
AVILTON FOODS: Administrators Sell Firm in Pre-Pack Deal
FOCUS (DIY): Wickes Takes Over Operations, Saves 25 Jobs
HEALTHCARE LOCUMS: Restates First Half 2010 Profit Figures

INVESCO PERPETUAL: Unveils Firm's Voluntary Liquidation Details
LEIGH CENTURIONS: In Urgent Talks with RFL, Sponsors Over Future
PEPPER POST: Halo Post Takes Over Pepper's Noel Street Premises
PLYMOUTH ARGYLE FC: James Brent Meets Staff, Discusses Pay
SEMPERIAN SENIOR: S&P Withdraws 'B' Rating on Class D Notes

SOUTHERN CROSS: 250 Care Homes Transferred to New Operators
SOUTHERN CROSS: Union Raises Fears Over Stapleton House Transfer
SWINDON TRAVEL: Ceases Trading, To Go In Administration This Week

* U.K.: Business Insolvencies Drop To Lowest Point in August


X X X X X X X X

* S&P Takes Rating Actions on 16 European Synthetic CDO Tranches

* Large Companies with Insolvent Balance Sheets





                            *********


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


A-TEC INDUSTRIES: Shares Suspended Following Liquidation
--------------------------------------------------------
According to Bloomberg News' Jonathan Tirone, Wiener Boerse said
in an e-mailed statement that A-Tec Industries AG had its shares
suspended indefinitely in Vienna one day after the company's
bankruptcy administrator exercised its right to liquidate A-Tec's
assets.

In a separate report, Boris Groendahl at Bloomberg News relates
that A-Tec said its administrator Matthias Schmidt has exercised
his right to start liquidating the group after it failed to raise
by Sept. 30 funds required under a restructuring agreed with
creditors last year.

A-Tec said in a statement on Sunday that the administrator will
seek to sell all of the company's assets and pay out the proceeds
exclusively to creditors, Bloomberg notes.

According to Bloomberg, Mr. Schmidt told the Austrian Press
Agency that he didn't receive as of midnight on Sept. 30 the
funds needed to pay creditors 47% of their claims, the quota
required under A-Tec's restructuring plan.

On Oct. 22, 2010, the Troubled Company Reporter-Europe, citing
Bloomberg News, related that A-Tec sought court clearance to
reorganize debt after losing access to its line of credit because
of an Australian power-station project's financial difficulties.
A-Tec said in an Oct. 20 statement that it had filed for self-
administered reorganization proceedings at the Vienna Commercial
Court and appointed trustees for bondholders, Bloomberg
disclosed.  The company has a EUR798 million (US$1.11 billion)
revolving credit facility and EUR302 million in outstanding
bonds, according to Bloomberg data.

A-TEC Industries AG engages in plant construction, drive
technology, machine tools, and minerals and metals businesses in
Europe and internationally.  The company is based in Vienna,
Austria.


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


ALMA TOUR: Creditors Appoint New Manager
----------------------------------------
FOCUS News Agency, citing the Banker weekly, reports that
UniCredit Bulbank and Central Cooperative Bank (CCB) have
appointed Alexander Naumov as new manager of Alma Tour Bulgaria,
thus gaining control over the company and its subsidiaries.

According to FOCUS News, the aim is to find a buyer for the
company while its operational that would cover its debts to
creditors.

Alma Tour was pledged as security for loans from the two credit
institutions, FOCUS News relates.  According to the Commercial
Register UniCredit Bulbank has provided the company EUR10.91
million, while CCB -- EUR3 million, FOCUS News discloses.  Debts
to United Bulgarian Bank were covered with the first tranche of
EUR7.91 million, FOCUS News states.  The next EUR4 million
tranche was used to repay the company's bond issue, FOCUS News
notes.

Alma Tour Bulgaria also has a debt to DSK Bank, according to
FOCUS News.  Data from the Commercial Register also reveals Alma
Tour's subsidiary Alma Tour Fly has concluded pledge agreements
with Emporiki Bank Bulgaria and Bulgaria Air, FOCUS News notes.
The credit issued by Emporiki Bank amounted to EUR1 million,
while Alma Tour Fly owes EUR5.89 million and US$21.29 million to
Bulgaria Air, FOCUS News discloses.  It was due to the company's
failure to pay its debt to Bulgaria Air that the scandal with the
Russian tourists in Bulgaria and the Bulgarian tourists abroad
erupted, FOCUS News states.

As reported by the Troubled Company Reporter-Europe on Sept. 22,
2011, Novinite.com related that all companies in the group of
Alma Tour filed for bankruptcy.  Bulgaria's Commission on
Consumer Protection stated that it would launch an investigation
of improper handling of business on the part of the company,
Novinite.com disclosed.  Problems with Alma Tour surfaced some
ten days ago, when close to 1,000 international tourists, most of
them Russians, were stranded at Bulgarian Black Sea airports of
Burgas and Varna, Novinite.com recounted.  Their flights were
cancelled by carrier Bulgaria Air over what it claimed to be
EUR3.6 million in debt from Alma Tour, which had booked the
tourists' trips, Novinite.com noted.

Alma Tour is a Bulgarian tour operator.


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


* DENMARK: To Provide DKK400-Bil. Liquidity Lifeline to Banks
-------------------------------------------------------------
Frances Schwartzkopff at Bloomberg News reports that Denmark's
central bank said it will provide as much as DKK400 billion
(US$72.6 billion) as part of an extended collateral program to
provide emergency liquidity to the country's banks.

According to Bloomberg, the bank said in a statement on Friday
that the lenders will also be able to borrow liquidity for six
months, alongside the central bank's existing seven-day facility,
at a rate that tracks the benchmark lending rate, currently
1.55%.

The country's lenders face a deepening crisis that threatens to
stall a recovery in Scandinavia's worst-performing economy,
Bloomberg discloses.  Two Danish bank failures this year
triggered senior creditor losses, leaving international funding
markets closed to all but the largest banks, Bloomberg recounts.
Lawmaker efforts to spur a wave of consolidation and help banks
sidestep Denmark's bail-in rules have so far failed, Bloomberg
notes.

"The expanded program is designed to supplement financial
institutions' access to taking loans and thereby build a bridge
to a situation without state guarantees, when these expire in
2012 and 2013," Bloomberg quotes central bank Governor Nils
Bernstein as saying in the statement.

In a separate report, Bloomberg News' Ms. Schwartzkopff relates
that Denmark's financial regulator warned the country's banks
against relying on a US$72 billion liquidity lifeline offered by
the central bank and urged lenders to do more to ensure stable
funding.

Banks should see the liquidity facility as "a possibility, and
it's good, but you shouldn't stop working on creating a more
sound funding structure," Kristian Vie Madsen, deputy director
general of the Financial Supervisory Authority, as cited by
Bloomberg, said in an interview in Copenhagen.  "There are some
banks that have a challenge when having to pay back the state-
guaranteed funding."

Denmark's banks have been cutting lending and dumping assets as
they struggle to refinance DKK158 billion in state-backed loans
coming due in the next two years, Bloomberg relates.  The
government has said it will only extend the guarantee on loans in
the event of a merger, as it seeks to spur a consolidation wave
and help the bank industry avoid more insolvencies, Bloomberg
notes.


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


VAC FINANZIERUNG: Moody's Withdraws B3 Corporate Family Rating
--------------------------------------------------------------
Moody's Investors Service has withdrawn all credit ratings on VAC
Finanzierung GmbH. Ratings withdrawn include the B3 corporate
family rating and probability-of-default rating. Following the
acquisition of VAC by OM Group and the subsequent redemption of
the bond issued by VAC, there is no rated debt outstanding.

RATINGS RATIONALE

Moody's has withdrawn the ratings for its own business reasons.

Outlook Actions:

   Issuer: VAC Finanzierung GmbH

   -- Outlook, Changed To Rating Withdrawn From Stable

Withdrawals:

   Issuer: VAC Finanzierung GmbH

   -- Probability of Default Rating, Withdrawn, previously rated
      B3

   -- Corporate Family Rating, Withdrawn, previously rated B3

Headquartered in Hanau, Germany, Vacuumschmelze GmbH & Co KG has
a solid and well-established market position in the design and
manufacturing of magnetic products. In the last twelve months
ending March 2011, the company generated revenues of EUR389
million. VAC has in August 2011 been acquired by OM Group. OM
Group, based in Cleveland, Ohio and with fiscal 2010 net sales of
approximately US$1.2 billion, is a leading global solutions
provider of specialty chemicals, advanced materials,
electrochemical energy storage and related applications.


VOLVO AUTO: Moody's Lowers Long-term Deposit Ratings to 'Ba2'
-------------------------------------------------------------
Moody's Investors Service has downgraded the long-term deposit
ratings of Volvo Auto Bank Deutschland GmbH (VAB) by two notches
to Ba2 from Baa3 and its bank financial strength rating (BFSR) to
D from D+, now mapping to Ba2 from Baa3 on the long-term scale.
All ratings remain under review for further downgrade.
Subsequently, VAB's short-term rating was downgraded to Not Prime
from P-3.

The downgrade of the long-term ratings follow the downgrade of
the BFSR, which is driven by Moody's concerns regarding (i) VAB's
future business strategy and franchise; (ii) its strategic
ownership interest; (iii) uncertainties regarding its future
asset quality and access to liquidity; and (iv) a funding profile
that relies on the continued membership in the deposit insurance
scheme.

Previously, the D+ BFSR and Baa3 long-term ratings of VAB had a
negative outlook since March 23, 2011.

RATINGS RATIONALE

Against Moody's previous expectations, VAB's ultimate parent Ford
Motor Co. (Ba2/positive) did not accomplish the sale of VAB
following the sale of Volvo Car Corporation by Ford to Zhejiang
Geely Holding Group (not rated) in 2010. In Moody's view, this
represents a key strategic challenge for VAB, given the limited
strategic fit with Ford Group.

Moody's downgrade of VAB's standalone BFSR to D -- which maps to
Ba2 on the long-term scale -- reflects (i) the envisaged
challenges related to the sustainability of VAB's future
franchise, including the expected run-off of its core loan and
leasing portfolio of consumer and dealer loans related to the
Volvo brand in Germany and Switzerland; (ii) the existing risk
concentrations of the dealer franchise; (iii) the modest recovery
of the bank's financial profile compared with its European peers
in 2010; and (iv) a funding profile that relies on the continued
membership in the deposit insurance scheme, supported by the
ultimate parent.

The downgrade of the long-term deposit ratings is directly linked
to the downgrade of the BFSR, as the long-term ratings do not
factor in either parental or systemic support. Moody's currently
assumes a low probability of parental support from its owner
(Ford), given the disposal of Volvo Cars to privately owned
Chinese Geely in 2010 and the limited strategic fit of VAB with
Ford, going forward. However, Moody's acknowledges VAB's
continuing role in financing Ford's business in Switzerland.

REVIEW TO EXPLORE RESILIENCE OF RISK PROFILE AND STRATEGIC
OPTIONS

The rating review for downgrade will focus on VAB's (i) future
relationship with its owner and the effect on its future
franchise and risk positioning; (ii) asset-quality evolution,
considering the envisaged partial run-off of its loan portfolio;
and (iii) liquidity management and ongoing access to funding
under such a scenario.

Moody's understands that VAB currently maintains a balanced
asset-and-liability structure, which would allow VAB to generate
a liquidity surplus for a certain period, even in a run-off mode.
VAB's liquidity profile is supported by the strategic liquidity
reserve of unconstrained cash exceeding EUR100 million, as per
its audited results of 2010. Simultaneously, the rating agency
notes VAB's funding reliance on the German private placement
market and that VAB's membership in the German deposit insurance
fund is credit positive. In Moody's view, VAB's membership in the
deposit insurance fund is key to supporting the bank's future
ability to access long-term market funds and also believes that
the continuing commitment of VAB's parent to this membership is
essential for VAB's liquidity and funding needs.

WHAT COULD DRIVE THE RATING UP OR DOWN

Negative pressure on VAB's ratings could emerge if VAB's
financial situation and liquidity deteriorates. Alternatively,
any actions that might weaken VAB's relative strategic and
operational independence from its owner could have negative
rating implications for both the BFSR and VAB's deposit ratings.

There is currently no upward pressure on the BFSR and long-term
ratings, given the review for downgrade.

PREVIOUS RATING ACTIONS AND METHODOLOGIES

The methodologies used in this rating were Bank Financial
Strength Ratings: Global Methodology, published in February 2007,
Incorporation of Joint Default Analysis into Moody's Bank
Ratings: A Refined Methodology, published in March 2007, and
Moody's Guidelines for Rating Bank Hybrid Securities and
Subordinated Debt, published in November 2009.

Headquartered in Cologne, Volvo Auto Bank Deutschland GmbH had
total assets of EUR2.4billion and reported shareholders' equity
(including minority interests) of EUR157 million as of the end of
2010 (according to audited results).


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G R E E C E
===========


YIOULA GLASSWORKS: Moody's Lowers Corp. Family Rating to 'Caa2'
---------------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating
(CFR) and Probability of Default Rating of Yioula Glassworks S.A.
(Yioula) to Caa2 from Caa1. Concurrently, the rating to Yioula's
EUR140 million senior unsecured notes was downgraded to Caa3
(LGD4, 69%) from Caa2. The outlook on the ratings is negative.

RATINGS RATIONALE

"Today's rating action reflects increasing risk to the company's
liquidity profile given that Yioula has been so far unable to
term out sizeable debt maturities due by the end of September
2011" says Anke Rindermann, Moody's lead analyst for Yioula. "In
addition, Moody's cautions that Yioula remains reliant on its
ability to roll-over more than EUR80 million of short term credit
lines under which more than EUR70 million were outstanding per
end of June 2011 and which come up for renewal in Q1 2012." While
Yioula has historically a solid track record in managing these
maturities, Moody's cautions that a large part of these lines are
provided by Greek relationship banks. These banks could be
challenged to extend their lending due to weak economic prospects
and the austerity measures that the government is implementing,
which could impair the capitalization of domestic banks.

The rating action also reflects the weakening of Yioula's
operating profitability over the past few quarters against
Moody's expectation of further gradual improvements to be
achieved. While volumes are up across all markets, a weaker
product mix and substitution of domestic sales with lower margin
export sales have negatively impacted operating profit
generation. In addition, higher energy costs and inflated raw
material prices have contributed to operating margin pressure.
Moody's therefore expects Yioula to post leverage metrics in term
of Moody's adjusted Debt/EBITDA in excess of 6x per year end 2011
(at 6.2x per June 2011) and to incur moderately negative free
cash flow.

On a more positive note, the rating continues to reflect Yioula's
dominant position in its core market of south-eastern Europe, its
long-standing relationships in that region, and the ability to
leverage its production in low cost countries. While Moody's
believes that the company's business model remains fundamentally
intact, Moody's sees however an increasing risk that liquidity
pressure could trigger a financial restructuring.

Per June 2011, Yioula's liquidity position consisted of EUR2.1
million of cash on balance sheet and EUR17 million of undrawn
short-term credit lines, free cash flow is expected to be break
even at best for the next 12 months. This compares to a
EUR15 million term loan due per end of September 2011, regular
amortization requirements amounting to a low single-digit amount
over H2 2011 and EUR87 million of short term credit lines coming
up for renewal in Q1 2012. While Yioula is aiming to gradually
substitute short term borrowings with longer term arrangements
and to further diversify its banking network, this has so far not
contributed to a more robust liquidity profile.

The negative outlook reflects Moody's view that Yioula will be
challenged to turn around its performance and leverage metrics
over the next few quarters in light of continued high input costs
and uncertainty regarding the overall economic environment.
Furthermore, uncertainty surrounding the company's ability to
successfully terming out its upcoming maturities is driving the
negative outlook.

Further negative rating pressure could arise if the company were
unable to successfully refinance upcoming debt maturities; or if
Moody's adjusted leverage increases to above 7x.

The rating could be upgraded if Yioula implemented an adequate
liquidity profile by refinancing its upcoming debt maturities on
a long term basis or instating other long term liquidity sources,
such as revolving liquidity facilities as back up for its
refinancing requirements.

Downgrades:

   Issuer: Yioula Glassworks S.A.

   -- Probability of Default Rating, Downgraded to Caa2 from Caa1

   -- Corporate Family Rating, Downgraded to Caa2 from Caa1

   -- Senior Unsecured Regular Bond/Debenture, Downgraded to Caa3
      from Caa2

Outlook Actions:

   Issuer: Yioula Glassworks S.A.

   -- Outlook, Changed To Negative From Stable

The principal methodology used in rating Yioula Glassworks S.A.
was the Global Packaging Manufacturers: Metal, Glass, and Plastic
Containers Industry Methodology published in June 2009. Other
methodologies used include Loss Given Default for Speculative-
Grade Non-Financial Companies in the U.S., Canada and EMEA
published in June 2009.

Yioula Glassworks S.A., based in Athens (Greece), produces a wide
variety of glass containers for the food and beverage industries
throughout south-eastern Europe as well as glass tableware for
the Greek, Bulgarian, Romanian and Ukrainian markets. Yioula
generated revenues of EUR218 million in the last twelve months
ending June 2011.


* GREECE: Passes New Budget Backed by International Creditors
-------------------------------------------------------------
Marcus Bensasson and Maria Petrakis at Bloomberg News report that
the Greek government said it passed a new budget backed by its
international creditors, including larger deficits than
previously forecast, as the country moves closer to securing an
EUR8 billion (US$10.7 billion) aid payout needed to avoid
default.

Prime Minister George Papandreou's Cabinet also passed EUR6.6
billion of austerity measures on Sunday night to cut the 2012
deficit to 6.8% of gross domestic product, missing the 6.5% goal
previously set with the EU, International Monetary Fund and
European Central Bank, known as the troika, Bloomberg relates.

Finance Minister Evangelos Venizelos had previously said Greece
would miss the targets and the troika accepted the new budget,
Bloomberg notes.

The austerity measures were detailed after the cabinet meeting on
Sunday night, which also approved the 2012 budget and the plan to
dismiss state workers, Bloomberg recounts.  The government by
December will identify 30,000 public workers who will be put on
reduced pay and either retire early or eventually be fired,
Bloomberg discloses.  The plan aims to save EUR300 million from
the government wage bill in 2012, Bloomberg says.


=============
H U N G A R Y
=============


* HUNGARY: To Commence Talks with Creditors of 19 Counties
----------------------------------------------------------
Zoltan Simon at Bloomberg News reports that Hungarian Prime
Minister Viktor Orban said the government will begin talks with
the creditors of the 19 counties, which have amassed HUF180
billion of debt that will now be taken over by the central
government.


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


BACCHUS 2007-1: Moody's Affirms 'Ba3' Class B Notes Rating
----------------------------------------------------------
Moody's Investors Service said that Bacchus 2007-1 Plc's ratings
are unaffected by amendment.

The ratings actions are:

   -- EUR218.2M Class A Senior Secured Floating Rate Notes due
      2023, Affirmed at A3 (sf); previously on Jun 22, 2011 A3
      (sf) Placed Under Review for Possible Upgrade

   -- EUR88M Revolving Credit Facility due 2023, Affirmed at A3
      (sf); previously on Jun 22, 2011 A3 (sf) Placed Under
      Review for Possible Upgrade

   -- EUR35.4M Class B Senior Secured Floating Rate Notes due
      2023, Affirmed at Ba3 (sf); previously on Jun 22, 2011 Ba3
      (sf) Placed Under Review for Possible Upgrade

   -- EUR25.5M Class C Senior Secured Deferrable Floating Rate
      Notes due 2023, Affirmed at Caa1 (sf); previously on
      Jun 22, 2011 Caa1 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR25M Class D Senior Secured Deferrable Floating Rate
      Notes due 2023, Affirmed at Ca (sf); previously on
      Jun 22, 2011 Ca (sf) Placed Under Review for Possible
      Upgrade

   -- EUR12.2M Class E Senior Secured Deferrable Floating Rate
      Notes due 2023, Affirmed at Ca (sf); previously on Aug 3,
      2009 Downgraded to Ca (sf)

   -- EUR3M Class Y Combination Notes due 2023, Affirmed at Ca
      (sf); previously on Jun 22, 2011 Ca (sf) Placed Under
      Review for Possible Upgrade

   -- EUR9.094M Class Z Combination Notes due 2023, Affirmed at
      Aaa (sf); previously on Apr 19, 2007 Assigned Aaa (sf)

   -- EUR6M Liquidity Facility Notes, Affirmed at Aaa (sf);
      previously on Feb 4, 2008 Assigned Aaa (sf)

RATINGS RATIONALE

Moody's Investors Service has determined that the entry on
September 27, 2011 of Bacchus 2007-1 Plc (the "Issuer"), a cash
flow CLO, into a novation agreement (the "Novation Agreement") in
respect of a currency option transaction documented under an ISDA
Master Agreement dated April 18, 2007, between the Issuer and AIG
Financial Products Corp ("AIG") (including the Schedule and
Confirmation thereto, the "Original Agreement") and performance
of the activities contemplated in such Novation Agreement, will
not in and of itself and at this time cause the current Moody's
ratings of the notes issued by the Issuer to be reduced or
withdrawn. Moody's does not express an opinion as to whether the
amendment could have other, non credit-related effects.

The Novation Agreement may be summarized as:

The Original Agreement has been novated so that Barclays Bank PLC
("Barclays Bank") has assumed all the rights and obligations of
AIG under the Original Agreement. The Issuer and Barclays Bank
have undertaken liabilities and obligations towards each other on
substantially the same terms as the Original Agreement with
certain consequential minor amendments arising from the
replacement of AIG by Barclays Bank.

The principal methodology used in this rating was "Moody's
Approach to Rating Collateralized Loan Obligations" published in
June 2011.

Moody's will continue monitoring this rating. Any change in the
rating will be publicly disseminated by Moody's through
appropriate media.


EUROCREDIT CDO V: Moody's Raises Rating on Class E Notes to 'Ba3'
-----------------------------------------------------------------
Moody's Investors Service has upgraded the ratings of these notes
issued by Eurocredit CDO V PLC:

Issuer: Eurocredit V

   -- EUR72M Class A-3 Notes, Upgraded to Aa1 (sf); previously on
      Jun 22, 2011 Aa2 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR42M Class B Notes, Upgraded to A1 (sf); previously on
      Jun 22, 2011 A3 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR36M Class C Notes, Upgraded to Baa1 (sf); previously on
      Jun 22, 2011 Ba1 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR27M Class D Notes, Upgraded to Ba1 (sf); previously on
      Jun 22, 2011 B1 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR24M Class E Notes, Upgraded to Ba3 (sf); previously on
      Jun 22, 2011 Caa1 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR6M Class V Notes (outstanding rated balance EUR4.2M),
      Upgraded to Baa3 (sf); previously on Jun 22, 2011 B1 (sf)
      Placed Under Review for Possible Upgrade

The ratings of the Combination Notes address the repayment of the
Rated Balance on or before the legal final maturity. For Class V,
the 'Rated Balance' is equal at any time to the principal amount
of the Combination Note on the Issue Date minus the aggregate of
all payments made from the Issue Date to such date, either
through interest or principal payments. The Rated Balance may not
necessarily correspond to the outstanding notional amount
reported by the trustee.

RATINGS RATIONALE

Eurocredit CDO V PLC, issued in September 2006, is a
multicurrency Collateralised Loan Obligation ("CLO") backed by a
portfolio of mostly high yield European loans. The portfolio is
managed by Intermediate Capital Managers Limited. This
transaction will be in reinvestment period until September 2012.
It is predominantly composed of senior secured loans.

According to Moody's, the rating actions taken on the notes are
primarily a result of applying Moody's revised CLO assumptions
described in "Moody's Approach to Rating Collateralized Loan
Obligations" published in June 2011.

The actions reflect key changes to the modeling assumptions,
which incorporate (1) a removal of the temporary 30% default
probability macro stress implemented in February 2009, (2)
increased BET liability stress factors as well as (3) change to a
fixed recovery rate modeling framework. Additional changes to the
modeling assumptions include (1) standardizing the modeling of
collateral amortization profile, and (2) changing certain credit
estimate stresses aimed at addressing the lack of forward looking
indicators as well as time lags in receiving information required
for credit estimate updates, and (3) adjustments to the equity
cash-flows haircuts applicable to combination notes.

Moody's also notes that this action also reflects improvements of
the transaction performance since the last rating action. In
Moody's view, positive developments coincide with reinvestment of
sale proceeds (including higher than previously anticipated
recoveries realized on defaulted securities) into substitute
assets with higher par amounts and/or higher ratings.

Moody's notes that the Class A-1 and Class A-2 notes have been
paid down by approximately 2.39% or EUR7.7 million since the
rating action in September 2009.

The overcollateralization ratios of the rated notes have improved
since the rating action in September 2009. The Class A/B, Class
C, Class D, and Class E overcollateralization ratios are reported
at 130.1%, 119.6%, 112.8% and 107.9%, respectively, versus August
2009 levels of 123.2%, 113.6%, 107.3% and 102.2%, respectively,
and all related overcollateralization tests are currently in
compliance. In particular, the Class E overcollateralization
ratio has increased due to the diversion of EUR2.46 million of
interest proceeds used to repay the outstanding balance of the
Class E Notes by 10.3% on the September 2010. Moody's also notes
that the Class E Notes are no longer deferring interest and that
all previously deferred interest has been paid in full.

Reported WARF has increased from 2739 to 2919 between August 2009
and September 2011. The change in reported WARF understates the
actual credit quality improvement because of the technical
transition related to rating factors of European corporate credit
estimates, as announced in the press release published by Moody's
on September 1, 2010. In addition, as reported by the Trustee,
securities rated Caa or lower make up approximately 6.86% of the
underlying portfolio versus 8.34% in August 2009. Additionally,
defaulted securities total about EUR2.7 million of the underlying
portfolio compared to EUR33.4 million in August 2009.

Due to the impact of revised and updated key assumptions
referenced in "Moody's Approach to Rating Collateralized Loan
Obligations" published in June 2011, key model inputs used by
Moody's in its analysis, such as the portfolio par amount, WARF,
diversity score, and weighted average recovery rate, may be
different from the trustee's reported numbers. In its base case,
Moody's analyzed the underlying collateral pool to have a
performing par and principal proceeds balance of EUR534.2
million, defaulted par of EUR2.7 million, a weighted average
default probability of 20.94% (consistent with a WARF of 2947), a
weighted average recovery rate upon default of 43.55% for a Aaa
liability target rating, a diversity score of 43 and a weighted
average spread of 2.98%. The default probability is derived from
the credit quality of the collateral pool and Moody's expectation
of the remaining life of the collateral pool. The average
recovery rate to be realized on future defaults is based
primarily on the seniority of the assets in the collateral pool.
For a Aaa liability target rating, Moody's assumed that 83.88% of
the portfolio exposed to senior secured corporate assets would
recover 50% upon default, while the remainder non first-lien loan
corporate assets would recover 10%. In each case, historical and
market performance trends and collateral manager latitude for
trading the collateral are also relevant factors. These default
and recovery properties of the collateral pool are incorporated
in cash flow model analysis where they are subject to stresses as
a function of the target rating of each CLO liability being
reviewed.

Moody's notes that this transaction is subject to a high level of
macroeconomic uncertainty, as evidenced by 1) uncertainties of
credit conditions in the general economy and 2) the large
concentration of speculative-grade debt maturing between 2012 and
2015 which may create challenges for issuers to refinance. CLO
notes' performance may also be impacted by 1) the manager's
investment strategy and behavior and 2) divergence in legal
interpretation of CDO documentation by different transactional
parties due to embedded ambiguities.

Sources of additional performance uncertainties are:

1) Moody's also notes that around 66% of the collateral pool
consists of debt obligations whose credit quality has been
assessed through Moody's credit estimates.

2) Recovery of defaulted assets: Market value fluctuations in
defaulted assets reported by the trustee and those assumed to be
defaulted by Moody's may create volatility in the deal's
overcollateralization levels. Further, the timing of recoveries
and the manager's decision to work out versus sell defaulted
assets create additional uncertainties. Moody's analyzed
defaulted recoveries assuming the lower of the market price and
the recovery rate in order to account for potential volatility in
market prices.

3) Weighted average life: The notes' ratings are sensitive to the
weighted average life assumption of the portfolio, which may be
extended due to the manager's decision to reinvest into new issue
loans or other loans with longer maturities and/or participate in
amend-to-extend offerings. Moody's tested for a possible
extension of the actual weighted average life in its analysis.

4) Other collateral quality metrics: The deal is allowed to
reinvest and the manager has the ability to deteriorate the
collateral quality metrics' existing cushions against the
covenant levels. Moody's analyzed the impact of assuming lower of
reported and covenanted values for weighted average rating
factor, weighted average spread, and diversity score. However, as
part of the base case, Moody's considered spread and coupon
levels higher than the covenant levels due to the large
difference between the reported and covenant levels.

5) The deal has significant exposure to non-EUR denominated
assets. Volatilities in foreign exchange rate will have a direct
impact on interest and principal proceeds available to the
transaction, which may affect the expected loss of rated
tranches.

The principal methodology used in this rating was "Moody's
Approach to Rating Collateralized Loan Obligations" published in
June 2011.

Moody's modeled the transaction using the Binomial Expansion
Technique, as described in Section 2.3.2.1 of the "Moody's
Approach to Rating Collateralized Loan Obligations" rating
methodology published in June 2011.

The cash flow model used for this transaction, whose description
can be found in the methodology listed above, is Moody's EMEA
Cash-Flow model.

In addition to the quantitative factors that are explicitly
modeled, qualitative factors are part of the rating committee
considerations. These qualitative factors include the structural
protections in each transaction, the recent deal performance in
the current market environment, the legal environment, specific
documentation features, the collateral manager's track record,
and the potential for selection bias in the portfolio. All
information available to rating committees, including
macroeconomic forecasts, input from other Moody's analytical
groups, market factors, and judgments regarding the nature and
severity of credit stress on the transactions, may influence the
final rating decision.


EUROCREDIT CDO VIII: Moody's Lifts Rating on Class E Notes to B1
----------------------------------------------------------------
Moody's Investors Service has upgraded the ratings of these notes
issued by Eurocredit CDO VIII Limited:

Issuer: Eurocredit CDO VIII Limited

   -- EUR432,300,000 Class A Senior Secured Floating Rate Notes
      due 2020 (currently EUR358,530,265.99 outstanding),
      Upgraded to Aaa (sf); previously on Jun 22, 2011 Aa1 (sf)
      Placed Under Review for Possible Upgrade

   -- EUR47,700,000 Class B Senior Secured Deferrable Floating
      Rate Notes due 2020, Upgraded to Aa2 (sf); previously on
      Jun 22, 2011 Baa1 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR42,000,000 Class C Senior Secured Deferrable Floating
      Rate Notes due 2020, Upgraded to Baa1 (sf); previously on
      Jun 22, 2011 Ba2 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR29,000,000 Class D Senior Secured Deferrable Floating
      Rate Notes due 2020, Upgraded to Ba2 (sf); previously on
      Jun 22, 2011 Caa1 (sf) Placed Under Review for Possible
      Upgrade

   -- EUR24,500,000 Class E Senior Secured Deferrable Floating
      Rate Notes due 2020, Upgraded to B1 (sf); previously on Jun
      22, 2011 Ca (sf) Placed Under Review for Possible Upgrade

RATINGS RATIONALE

Eurocredit CDO VIII Limited, issued in December 2007, is a multi-
currency Collateralised Loan Obligation ("CLO") backed by a
portfolio of mostly high yield European and US loans. The
portfolio is managed by Intermediate Capital Group PLC. This
transaction has passed the reinvestment period in January 2011.
It is predominantly composed of senior secured loans.

According to Moody's, the rating actions taken on the notes are
primarily a result of applying Moody's revised CLO assumptions
described in "Moody's Approach to Rating Collateralized Loan
Obligations" published in June 2011. The actions also reflect
consideration of an increase in the transaction's
overcollateralization ratios and deleveraging of the senior notes
since the rating action in September 2009.

The actions reflect key changes to the modeling assumptions,
which incorporate (1) a removal of the temporary 30% default
probability macro stress implemented in February 2009, (2)
increased BET liability stress factors as well as (3) change to a
fixed recovery rate modeling framework.

Moody's notes that the Class A notes have been paid down by
approximately 15% or EUR66.6 million since the rating action in
September 2009. As a result of the deleveraging, the
overcollateralization ratios have increased since the rating
action in September. As of the latest trustee report dated
August 31, 2011, the Class A, B, C, D and E overcollateralization
ratios are reported at 151.8%, 134.0%, 121.4%, 114.1% and 108.5%,
respectively, versus July 2009 levels (on which the last rating
action was based) of 138.4%, 124.7%, 114.6%, 108.6% and 104.0%,
respectively.

Due to the impact of revised and updated key assumptions
referenced in "Moody's Approach to Rating Collateralized Loan
Obligations" published in June 2011, key model inputs used by
Moody's in its analysis, such as the portfolio par amount, WARF,
diversity score, and weighted average recovery rate, may be
different from the trustee's reported numbers. In its base case,
Moody's analyzed the underlying collateral pool to have a
performing par and principal proceeds balance of EUR553.2
million, defaulted par of EUR1.8 million, a weighted average
default probability of 30.72% (consistent with a WARF of 3072), a
weighted average recovery rate upon default of 44.28% for a Aaa
liability target rating, a diversity score of 36 and a weighted
average spread of 3.27%. The default probability is derived from
the credit quality of the collateral pool and Moody's expectation
of the remaining life of the collateral pool. The average
recovery rate to be realized on future defaults is based
primarily on the seniority of the assets in the collateral pool.
For a Aaa liability target rating, Moody's assumed that 85.7% of
the portfolio exposed to senior secured corporate assets would
recover 50% upon default, while the remainder non first-lien loan
corporate assets would recover 10%. In each case, historical and
market performance trends and collateral manager latitude for
trading the collateral are also relevant factors. These default
and recovery properties of the collateral pool are incorporated
in cash flow model analysis where they are subject to stresses as
a function of the target rating of each CLO liability being
reviewed.

Moody's notes that this transaction is subject to a high level of
macroeconomic uncertainty, as evidenced by (1) uncertainties of
credit conditions in the general economy and (2) the large
concentration of speculative-grade debt maturing between 2012 and
2015 which may create challenges for issuers to refinance. CLO
notes' performance may also be impacted by divergence in legal
interpretation of CDO documentation by different transactional
parties due to embedded ambiguities.

Sources of additional performance uncertainties are:

1) Deleveraging: The main source of uncertainty in this
transaction is whether delevering from unscheduled principal
proceeds will continue and at what pace. Deleveraging may
accelerate due to high prepayment levels in the [bond/loan]
market and/or collateral sales by the manager, which may have
significant impact on the notes' ratings.

2) Moody's also notes that around 67% of the collateral pool
consists of debt obligations whose credit quality has been
assessed through Moody's credit estimates.

3) Recovery of defaulted assets: Market value fluctuations in
defaulted assets reported by the trustee and those assumed to be
defaulted by Moody's may create volatility in the deal's
overcollateralization levels. Further, the timing of recoveries
and the manager's decision to work out versus sell defaulted
assets create additional uncertainties. Moody's analyzed
defaulted recoveries assuming the lower of the market price and
the recovery rate in order to account for potential volatility in
market prices.

The principal methodology used in this rating was "Moody's
Approach to Rating Collateralized Loan Obligations" published in
June 2011.

Moody's modeled the transaction using the Binomial Expansion
Technique, as described in Section 2.3.2.1 of the "Moody's
Approach to Rating Collateralized Loan Obligations" rating
methodology published in June 2011.

The cash flow model used for this transaction, whose description
can be found in the methodology listed above, is Moody's EMEA
Cash-Flow model.

In addition to the quantitative factors that are explicitly
modeled, qualitative factors are part of the rating committee
considerations. These qualitative factors include the structural
protections in each transaction, the recent deal performance in
the current market environment, the legal environment, specific
documentation features, the collateral manager's track record,
and the potential for selection bias in the portfolio. All
information available to rating committees, including
macroeconomic forecasts, input from other Moody's analytical
groups, market factors, and judgments regarding the nature and
severity of credit stress on the transactions, may influence the
final rating decision.


QUINN INSURANCE: Loses Half of Clients Since Administration
-----------------------------------------------------------
Maeve Sheehan at Irish Independent reports that Quinn Insurance
has lost more than half of its customers since the company was
placed into administration, according to a lobby group that will
object the sale of the insurer in High Court.

The group said the number of policies had fallen from 800,000 on
April last year -- when Anglo Irish Bank took control of the
Quinn Group -- to 296,653 on September 16, according to Irish
Independent.

The report notes that the claims are made by Concerned Irish
Business, a 550-strong lobby group of Quinn supporters.  They
want to suspend the deal to sell Quinn Insurance to Anglo Irish
Bank and the US insurer Liberty Mutual pending an inquiry, Irish
Independent says.

Meanwhile, Sinn Fein TD Caomhghin O Caolain has revealed the
existence of a tape in which an administrator tells Quinn staff
the family would "never have any involvements in this insurance
company again," Irish Independent notes.

                        About Quinn Insurance

Quinn Insurance is owned by Sean Quinn, who was once Ireland's
richest man, and his family.  The company has more than 20% of
the motor and health insurance market in Ireland.  Employing
almost 2,800 people in Britain and Ireland, it was founded in
1996 and entered the UK market in 2004.

As reported by the Troubled Company Reporter-Europe, The Irish
Times said the Financial Regulator put Quinn Insurance into
administration in March 2010 after his office discovered
guarantees had been provided by the insurer's subsidiaries as far
back as 2005 on Quinn Group debts of more than EUR1.2 billion.
The regulator said the guarantees reduced the amount the firm had
in reserve to protect policyholders against possible claims,
putting 1.3 million customers at risk, according to the Irish
Times.


===================
K A Z A K H S T A N
===================


BMB MUNAI: Announces Cash Distribution of US$1.04 Per Share
-----------------------------------------------------------
BMB Munai, Inc., announced an initial cash distribution of $1.04
per share, which will be payable on Oct. 24, 2011, to Company
common stockholders of record on Oct. 10, 2011.  This cash
distribution is the first of two anticipated cash distributions
to Company stockholders from the transaction proceeds of the sale
of the Company's operating subsidiary, Emir Oil LLP, to a
subsidiary of MIE Holdings Corporation.  The initial distribution
amount was determined after giving effect to the estimated
closing adjustments and escrow amount and the repayment of the
Company's 10.75% Convertible Senior Notes and after providing for
the payment of or reserve for other anticipated liabilities and
transaction costs.

The Company intends to make a second distribution to stockholders
that could range up to approximately $0.30 per share following
termination of the escrow on the first year anniversary of the
closing date, subject to the availability of funds to be released
from the escrow, actual costs incurred and other factors.

As previously announced, delisting of the Company's common stock
from the NYSE Amex will become effective following the close of
business on Sept. 29, 2011.  The Company's common stock is
expected to be quoted over-the-counter on the OTCQB, operated by
OTC Market Group, Inc., beginning on Sept. 30, 2011, under the
stock symbol "BMBM"".  While the common stock may be quoted on
the OTCQB, there can be no assurance that a market for the
Company's common stock will develop on the OTCQB or otherwise.

OTC Market Group, Inc., operates the world's largest electronic
marketplace for broker-dealers to trade unlisted stocks,
including the OTCQB Marketplace.  Investors will be able to view
Real Time Level II stock quotes for the Company at
http://www.otcmarkets.com

                          About BMB Munai

Based in Almaty, Kazakhstan, BMB Munai, Inc., is a Nevada
corporation that originally incorporated in the State of Utah in
1981.  Since 2003, its business activities have focused on oil
and natural gas exploration and production in the Republic of
Kazakhstan through its wholly-owned operating subsidiary Emir Oil
LLP.  Emir Oil holds an exploration contract that allows the
Company to conduct exploration drilling and oil production in the
Mangistau Province in the southwestern region of Kazakhstan until
January 2013.  The exploration territory of its contract area is
approximately 850 square kilometers and is comprised of three
areas, referred to herein as the ADE Block, the Southeast Block
and the Northwest Block.

The Company realized a loss from continuing operations of
US$15.1 million during fiscal year 2011 compared to US$10.7
million during fiscal year 2010.  This 41% increase in loss from
continuing operations was primarily attributable to increased
general and administrative and interest expense and the foreign
exchange loss of US$415,803 incurred during fiscal year 2011.

Hansen, Barnett & Maxwell, P.C., in Salt Lake City, said that as
a result of the pending sale of Emir Oil LLP, BMB Munai will have
no continuing operations that result in positive cash flow, which
raise substantial doubt about its ability to continue as a going
concern.

The Company did not generate any revenue during the fiscal years
ended March 31, 2011, and 2010, except from oil and gas sales
through Emir Oil.

The Company's balance sheet at June 30, 2011, showed
US$326.89 million in total assets, US$103.95 million in total
liabilities, and US$222.93 million in stockholders' equity.

                        Bankruptcy Warning

The Company has disclosed that if it does not complete the sale,
it will not have sufficient funds to retire the restructured
Senior Notes when they become due.  "In this event, we would
likely be required to consider liquidation alternatives,
including the liquidation of our business under bankruptcy
protection," the Company said.


KAZAKHSTAN MORTGAGE: Moody's Lowers Local Issuer Rating to 'B2'
---------------------------------------------------------------
Moody's Investors Service has downgraded to B2 from B1 the long-
term local currency issuer rating of Kazakhstan Mortgage Company
(KMC) -- a Government-Related Issuer (GRI). The outlook on the B2
issuer rating is negative. The issuer rating now incorporates a
weaker Baseline Credit Assessment (BCA) of 16 (from 15) on a
scale of 1 to 21, where 1 represents lowest credit risk -- in
accordance with Moody's GRI rating methodology.

RATINGS RATIONALE

The downgrade of KMC's long-term issuer rating to B2 from B1 was
triggered by the deterioration of the company's credit profile,
and particularly reflects: (i) ongoing recurring losses that
increased in the first six months of 2011 following the
deterioration of the company's net interest margin (NIM) which
was negative (-0.95%) in H1 2011; (ii) further erosion of the
shareholders' equity that shrunk by 5% in H1 2011; and (iii) in
Moody's view, the unclear prospects of the company's business
profile given the ongoing reduction of KMC's loan book for the
third successive year since 2009 (in the first six months of
2011, the gross loan book declined by 4.3%, compared with a 9.9%
decline in 2010 and a 3.3% decline in 2009).

Moody's believes that the ongoing deterioration of KMC's
financial fundamentals is eroding the company's capital, and
renders the sustainability of its business potentially vulnerable
in the long-term horizon.

At the same time, KMC's B2 rating is supported by the (i)
currently high level of capital adequacy whereby the Basel I Tier
1 capital adequacy ratio was 26% as at end-June 2011, and (ii)
reasonable cushion of liquid assets (including cash, deposits
with banks and securities), which accounts for 38% of the
company's total assets as at end-June 2011 that -- along with
limited repayments of wholesale funding over the next 12 months
-- positively affects KMC's liquidity position in the short to
medium term.

The re-mapping of KMC's BCA down to 16 from 15 (in accordance
with Moody's GRI methodology), along with Moody's assessment of a
moderate level of government support that is incorporated into
KMC's rating, corresponds to the long-term issuer rating of B2.
The negative outlook on the B2 rating reflects the ongoing
deterioration of the company's financial fundamentals mentioned
above.

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was Government-
Related Issuers: Methodology Update published in July 2010.
Please see the Credit Policy page on www.moodys.com for a copy of
this methodology.

Headquartered in Almaty, Kazakhstan, KMC reported unaudited IFRS
total assets of KZT103.5 billion (US$708 million) and
shareholders' equity of KZT20.4 billion (US$140 million) as of
end-June 2011. The reported net loss for the first six months of
2011 amounted KZT1.2 billion(US$8 million).

SOURCES

(1) Source: Unaudited interim IFRS financial statements for the
six-month period ended 30 June 2011

(2) Source: Audited Consolidated IFRS financial statements for
the year ended 31 December 2010

(3) Source: Unaudited interim IFRS financial statements for the
six-month period ended 30 June 2010

(4) Source: Audited Consolidated IFRS financial statements for
the year ended 31 December 2009


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


LYONDELL CHEMICAL: Len Blavatnik Scored US$1.2BB in Buyout
----------------------------------------------------------
Liz Hoffman at Bankruptcy Law360 reports that the trustee for
Lyondell Chemical Co. bolstered its claims against billionaire
Len Blavatnik in a revised lawsuit Friday, arguing the private
equity mogul couldn't skirt claims lodged under Luxembourgian law
that he improperly netted US$1.2 billion during Lyondell's 2007
leveraged buyout.

The trustee's second amended complaint, filed in New York
bankruptcy court, adds nearly 15 pages of facts to support the
allegation -- one of 21 in the case -- that Blavatnik breached
his fiduciary duty when he leveraged billions in debt of
Luxembourgian petrochemical company, according to Law360.

                      About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  Luxembourg-based Basell AF
and Lyondell Chemical Company merged operations in 2007 to form
LyondellBasell Industries, the world's third largest independent
chemical company.  LyondellBasell became saddled with debt as
part of the US$12.7 billion merger.  Len Blavatnik's Access
Industries owned the Company prior to its bankruptcy filing.

On Jan. 6, 2009, LyondellBasell Industries' U.S. operations,
led by Lyondell Chemical Co., and one of its European holding
companies -- Basell Germany Holdings GmbH -- filed voluntary
petitions to reorganize under Chapter 11 of the U.S. Bankruptcy
Code to facilitate a restructuring of the company's debts.  The
case is In re Lyondell Chemical Company, et al., Bankr. S.D.N.Y.
Lead Case No. 09-10023).  Seventy-nine Lyondell entities filed
for Chapter 11.  Luxembourg-based LyondellBasell Industries AF
S.C.A. and another affiliate were voluntarily added to Lyondell
Chemical's reorganization filing under Chapter 11 protection on
April 24, 2009.

Deryck A. Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, served as the Debtors' bankruptcy counsel.  Evercore
Partners served as financial advisors, and Alix Partners and its
subsidiary AP Services LLC, served as restructuring advisors.
AlixPartners' Kevin M. McShea acted as the Debtors' Chief
Restructuring Officer.  Clifford Chance LLP served as
restructuring advisors to the European entities.

LyondellBasell emerged from Chapter 11 bankruptcy protection in
May 2010, with a plan that provides the Company with US$3 billion
of opening liquidity.  A new parent company, LyondellBasell
Industries N.V., incorporated in the Netherlands, is the
successor of the former parent company, LyondellBasell Industries
AF S.C.A., a Luxembourg company that is no longer part of
LyondellBasell.  LyondellBasell Industries N.V. owns and operates
substantially the same businesses as the previous parent company,
including subsidiaries that were not involved in the bankruptcy
cases.  LyondellBasell's corporate seat is Rotterdam,
Netherlands, with administrative offices in Houston and
Rotterdam.


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


OPERA FINANCE: S&P Lowers Rating on Class A Notes to 'CCC-'
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its credit rating to
'CCC-' from 'BBB', on Feco II Ltd.'s EUR11.2 million Opera
Finance (Uni-Invest) BV class A series 2009-04 notes. This is a
European synthetic repack transaction.

The rating on series 2009-04 is dependent on the underlying
collateral, Opera Finance (Uni-Invest) B.V.'s EUR1.009 billion
commercial mortgage-backed floating-rate class A notes.

"Following the downgrade of the collateral notes to 'CCC-' from
'B' on Sept. 23, 2011 (see 'Ratings Lowered On Class A, B, And C
Notes In Dutch CMBS Transaction Opera Finance (Uni-Invest)'), we
have consequently lowered the rating on Feco II's series 2009-04
notes to 'CCC-' from 'BBB'," S&P related.

"We lowered the rating on the collateral notes to 'B' from 'BBB'
on March 17, 2011. Due to an oversight, we did not lower the
rating on Feco II's series 2009-04 notes at that time," S&P said.

Feco II's series 2009-04 is a European synthetic repack
transaction.


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


* POLAND: Corporate Bankruptcies Up 4% in Third Quarter 2011
------------------------------------------------------------
Poland A.M., citing the latest report by economic intelligence
agency Coface, says that as many as 174 Polish companies went
bust in the third quarter of 2011.

In the first two quarters of 2011, the number of firms going
bankrupt was lower than in the corresponding period of the
previous year, Poland A.M. notes.

In the first three quarters of 2011, the Polish courts have
announced a total of 521 bankruptcies, a 4% increase year-on-
year, Poland A.M. discloses.  The largest number of companies
going bankrupt can be seen in the construction and food
industries, Poland A.M. states.

According to Poland A.M., experts predict that the number of
bankruptcies will continue to increase, and that in the whole of
2011 there will be some 10% more of them than in the previous
year.


===============
S L O V E N I A
===============


ARGON CAPITAL: Moody's Reviews Ba1 Rating for Possible Downgrade
----------------------------------------------------------------
Moody's Investors Service has placed under review for possible
downgrade the rating of these notes issued by Argon Capital PLC.

Issuer: Argon Capital PLC

   -- Series 99 SKK 300,000,000 Limited Recourse Secured Floating
      Rate Credit-Linked Notes due 2012, Ba1 Placed Under Review
      for Possible Downgrade; previously on Jun 13, 2011
      Downgraded to Ba1

RATINGS RATIONALE

The Series 99 are credit linked to Nova Ljubljanska Banka D.D.
Merrill Lynch & Co. Inc., currently rated Baa1 is the swap
guarantor and collateral provider for these notes.

Moody's explained that the rating action taken is the result of a
rating action on Nova Ljubljanska Banka D.D, whose Baa3 rating
was placed under review for possible downgrade on 26 September
2011.

Moody's expects to conclude this review when the review of Nova
Ljubljanska Banka D.D. is completed.

Moody's notes that this transaction is subject to macroeconomic
uncertainty, as evidenced by uncertainties of credit conditions
in the general economy. More specifically, any uncertainty
associated with the underlying credits in the transactions could
have a direct impact on the repackaged transaction.

The principal methodology used in this rating was "Moody's
Approach to Rating Repackaged Securities" published in April
2010.


=========
S P A I N
=========


AYT CAIXANOVA: Moody's Assigns 'B3' Rating to Class C Notes
-----------------------------------------------------------
Moody's Investors Service has assigned the following definitive
ratings to four series of Notes issued by AyT Caixanova FTPYME 1,
Fondo de Titulizacion de Activos :

   -- EUR70.2M T Notes, Definitive Rating Assigned Aaa (sf)
   -- EUR73.8M A Notes, Definitive Rating Assigned Aaa (sf)
   -- EUR30M B Notes, Definitive Rating Assigned Aaa (sf)
   -- EUR26M C Notes, Definitive Rating Assigned B3 (sf)

RATINGS RATIONALE

AyT Caixanova FTPYME 1 is a securitization of loans originally
granted by Caixa de Aforros de Vigo, Ourense e Pontevedra to
small-and medium-sized enterprises (SMEs) located in Spain. The
Servicer of the transaction is NCG Banco S.A. previously Caixa de
Aforros de Galicia, Vigo, Ourense e Pontevedra rated Baa3/P-3,
D+, Negative Outlook. This entity resulted from the merger in
December 2010 of Caja de Ahorros de Galicia with Caixanova.
Ahorro y Titulizacion S.G.F.T., S.A. is the Management Company.

The transaction closed in December 2008 and was initially not
rated by Moody's. The initial notes balance issued at closing
amounted to EUR200 million. The outstanding notes balance as of
the last payment date in September 2011 amounts to EUR83.49
million.

Series T benefits from a guarantee provided by the Government of
Spain (Aa2 under review for Possible Downgrade/(P)P-1)for
interest and principal payments. The expected loss associated
with series T notes is consistent with a Aaa(sf) rating on a
stand-alone basis (without the benefit of the guarantee).

Moody's rating analysis of the notes is based on the transaction
structure after the payment date in March 2011.

The pool of underlying assets was, as of April 2011, composed of
a portfolio of 589 contracts (originated between 1998 and 2008),
granted to 525 obligors located in Spain. The Portfolio has a
weighted average seasoning of 4.3 years and a weighted average
remaining term of 5.1 years. All the figures are calculated on
the outstanding amounts of loans with arrears less than 12
months.

According to Moody's, this deal benefits from several credit
strengths including the following: (i) a relatively low
concentration in the Building and Real Estate industry sector for
the Spanish market (around 13% in the pool according to Moody's
industry classification), (ii) 98.1% of the loans are fully
amortizing and (iii) a strong swap is in place paying 6m Euribor
plus a 0.70% spread.

Moody's notes that the transaction features some credit
weaknesses, notably: (i) the low granularity of the portfolio of
loans (with an effective number of 181) and (ii) the exposure to
commingling risk mitigated somewhat by the fact that the servicer
transfers collections daily to the Treasury account in the name
of the SPV.

These characteristics were reflected in Moody's analysis and
ratings, where several sensitivities tested the available credit
enhancement and reserve fund (as of April 2010) to cover
potential shortfalls in interest or principal envisioned in the
transaction structure.

Moody's analysis focused primarily on (i) an evaluation of the
underlying portfolio of loans; (ii) historical performance
information and other statistical information; (iii) the credit
enhancement provided by the swap spread, the cash reserve and the
subordination of the notes.

The resulting key assumptions of Moody's analysis for this
transaction are a mean default rate of 18% with a coefficient of
variation of 33% and a stochastic mean recovery rate of 35%.

The methodologies used in this rating were Moody's Approach to
Rating CDOs of SMEs in Europe published in February 2007 and
Refining the ABS SME Approach: Moody's Probability of Default
assumptions in the rating analysis of granular Small and Mid-
sized Enterprise portfolios in EMEA, published in March 2009.

As mentioned in the methodology, Moody's used in combination its
CDOROM model (to generate the default distribution) and ABSROM
cash-flow model to determine the potential loss incurred by the
notes under each loss scenario. In parallel, Moody's also
considered non-modelled risks (such as counterparty risk).

The ratings address the expected loss posed to investors by the
legal final maturity of the notes (March 2030). In Moody's
opinion, the structure allows for timely payment of interest and
ultimate payment of principal on Series T, A, B and C at par on
or before the rated final legal maturity date. Moody's ratings
address only the credit risks associated with the transaction.
Other non-credit risks have not been addressed, but may have a
significant effect on yield to investors.

The V Score for this transaction is Medium/High, which is in line
with the score assigned for the Spanish SME sector and
representative of the volatility and uncertainty in the Spanish
SME sector. V-Scores are a relative assessment of the quality of
available credit information and of the degree of dependence on
various assumptions used in determining the rating. For more
information, the V-Score has been assigned according to the
report " V Scores and Parameter Sensitivities in the EMEA Small-
to-Medium Enterprise ABS Sector" published in June 2009.

Moody's also ran sensitivities around key parameters for the
rated notes. For instance if the recovery rate of 35% was changed
to 25%, the model-indicated rating for the Series T and A Notes
would remain Aaa while the rating for the Series B and C Notes
would change respectively from Aaa to Aa2 and from B3 to Caa1.
Additionally, if the assumed default probability of 18 % used in
determining the initial rating was changed to 26% and the
recovery rate of 35 % was changed to 15%, the model-indicated
rating for the Series T and A Notes would remain Aaa while the
rating for the Series B and C Notes would change respectively
from Aaa to Baa3 and from B3 to Ca.


* SPAIN: Bank of Spain Takes Over Three More Lenders
----------------------------------------------------
Emma Ross-Thomas and Charles Penty at Bloomberg News report that
the Bank of Spain took over three more lenders after they failed
to meet a deadline for new minimum capital requirements set by
the government.

According to Bloomberg, the regulator said in a statement on
Friday that Spain's bank rescue fund, known as FROB, will
administer banks run by CaixaCatalunya, Novacaixagalicia and
Unnim.  The Bank of Spain said that the cost of recapitalizing
the three lenders and Caja de Ahorros del Mediterraneo, a failed
savings bank seized in July, will be EUR7.55 billion (US$10.2
billion), Bloomberg relates.

Bank of Spain Governor Miguel Angel Fernandez Ordonez didn't
comment on Friday on whether Spanish banks should raise
additional funds in line with proposals from the International
Monetary Fund for another round of recapitalization of European
lenders, Bloomberg notes.

Mr. Ordonez said in a Madrid news conference that the FROB will
own 100% of Unnim, 93% of Novacaixagalicia and almost 90% of
CatalunyaCaixa, Bloomberg relates.  The Bank of Spain governor,
as cited by Bloomberg, said that the FROB bought Novacaixagalicia
at 12% of book value, CatalunyaCaixa at 9% and Unnim for one
symbolic euro.


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


SAAB AUTOMOBILE: Parent Inks Deal to Sell Spyker to North Street
----------------------------------------------------------------
Pete Brush at Bankruptcy Law360 reports that Swedish Automobile
NV, which checked its Saab Automobile AB unit into Swedish
insolvency proceedings this month, said Thursday that it had a
tentative deal to sell its Spyker performance car business to
private equity firm North Street Capital LP for $44 million.

Swedish Automobile said the Spyker assets are pledged to Tenaci
Capital BV, an investment company created by Spyker CEO Victor
Muller, a Dutch tycoon, and any proceeds from the sale would be
used to redeem debt owed to Tenaci, according to Law360.

                      About Saab Automobile

Saab Automobile AB is a Swedish car manufacturer owned by Dutch
automobile manufacturer Swedish Automobile NV, formerly Spyker
Cars NV.

In early September 2011, two unions, representing managers and
administrative employees, asked Vaenersborg District Court in
Sweden to put the carmaker into bankruptcy .

The court on Sept. 9 rejected Saab's petition for protection from
creditors.  The tribunal said on its Web site that Saab filed the
appeal on the Sept. 9 decision.

Saab has sought creditor protection to give it time until a
promised investment of EUR245 million from car firms Pangda
Automobile Trade Co. Ltd. and Zhejiang Youngman Lotus Automobile
gets the nod from Chinese authorities.

Saab on Sept. 19 said it has arranged EUR70 million (US$96
million) in bridge financing with the help of a Chinese
guarantee.

Swedish Automobile N.V. disclosed that Saab Automobile AB and its
subsidiaries Saab Automobile Powertrain AB and Saab Automobile
ToolsAB received approval for their proposal for voluntary
reorganization from the Court of Appeal in Gothenburg,
Sweden on Sept. 20.  The purpose of the voluntary
reorganization process is to secure short-term stability while
simultaneously attracting additional funding, pending the inflow
of the equity contributions by Pang Da and Youngman.

The Swedish Company Reorganization Act says that an application
shall not be approved unless there is reasonable cause to assume
that the purpose of the reorganization will be achieved.  In the
Sept. 20 decision, the Court of Appeal has found that such
conditions exist, thereby overturning an earlier ruling by the
District Court in Vanersborg, Sweden.

As a consequence of the Court of Appeal ruling, Saab Automobile
will request for the bankruptcy filings by unions IF Metall,
Unionen and Ledarna to be cancelled.


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


ADDERLEY CARE: Accounting Firm Still Searches for Buyer
-------------------------------------------------------
Spalding Guardian reports that accounting firm KPMG said it is
continuing its search for a buyer for both Adderley House Limited
and Adderley Care Home after both homes went into administration
three weeks ago.

As reported in the Troubled Company Reporter-Europe on Sept. 22,
2011, Spalding Guardian said Adderley House Ltd., which runs both
Adderley Nursing Home and Adderley Residential Home, have gone
into administration putting more than 60 jobs at risk. Spalding
Guardian noted that Neil Gostelow and Jane Moriarty, of
accounting firm KPMG, have been appointed joint administrators
for the company, which was run as a subsidiary of Stargate
Partnership Ltd.  Stargate Partnership Ltd also operates five
other care homes in Cambridgeshire, West Sussex, Kent and Surrey.
Spalding Guardian disclosed that KPMG has confirmed all seven
care homes will continue to operate as normal and the entire 200
care home staff have been retained on appointment.  The report
related that specialist care home operator Healthcare Management
Solutions has been appointed to manage day-to-day operations at
the homes.  Five staff employed at the Stargate Partnership Ltd
head office in Croydon has been made redundant, Spalding Guardian
added.

Adderley Residential Home was converted from a private house
approximately 30 years ago.  It offers long-term accommodation,
short breaks, day care and drop-in services with 15 flatlets and
12 bedrooms.


ALEXON GROUP: Sun European Buys Distressed Firm
-----------------------------------------------
Dow Jones' Daily Bankruptcy Review reports that investment firm
Sun European Partners Thursday said it had bought Alexon Group
PLC, a U.K.-based womenswear retailer following a rapid sale
process triggered by the Company's third profit warning in six
months.

In April, Alexon warned that the collapse of department store
chain Allders could hit its earnings by GBP3 million in 2005.
The group, which owned 118 concessions in Allders outlets, has
already lost GBP2.2 million from money owed and stock and
fixtures write-downs.

The blow came amid sluggish trading at the group's Bay Trading
Fashion chains, which saw same-store sales slide 1.3% in the
last financial year.  Profits for the year ended 29 January 2005
dropped to GBP26.9 million against GBP29.4 million a year
earlier.  Like-for-like sales in the first nine weeks of the
current financial year were three percent down.

CONTACT:  ALEXON GROUP PLC
          40-48 Guildford Street
          Luton
          Bedfordshire
          England
          LU1 2PB
          Tel: +44 1582 723131
          Fax: +44 1582 399864


AVILTON FOODS: Administrators Sell Firm in Pre-Pack Deal
--------------------------------------------------------
Insider Media Limited reports that Avilton Foods has been sold
after entering administration.

Joint administrators Simon Thomas and Robert Pick of Moorfields
Corporate Recovery sold the supplier of imported foods in a pre-
pack deal, according to Insider Media Limited.

The business will continue trading as Viva Food, a company
incorporated on Aug. 22, 2011, Insider Media Limited notes.   The
report relates that it is not yet known if any of the company's
22 workers have been made redundant.

Insider Media Limited notes that the company's turnover for the
year ended Sept. 30, 2009 was GBP36 million, down from GBP48.5
million for the 17 months to Sept. 30, 2008, although it showed a
5% growth on the annualized revenue of the previous period.  The
report relates that pre-tax profits also fell to GBP121,458 from
GBP155,546 for the previous 17 months, but showed an annualized
growth of 12%.

Exeter-based Avilton Foods is a supplier for Jamie Oliver's food
range.


FOCUS (DIY): Wickes Takes Over Operations, Saves 25 Jobs
--------------------------------------------------------
thisisstaffordshire.co.uk reports that home improvement retailer
Wickes took over the former Focus DIY store, in Marlborough Way,
saving 25 jobs in the process.

As reported in the Troubled Company Reporter-Europe on May 10,
2011, H&V News related that Focus DIY fell into administration.
Ernst & Young, who were appointed as administrator, said that
they are looking for a buyer for the company's stores, which
continue to trade as normal, according to H&V News.

The store, one of 13 taken on by Wickes, was officially opened by
the Mayor of Stoke-on-Trent Terry Follows, according to
thisisstaffordshire.co.uk.  The report relates that each worker
who was made redundant from the Focus store in June has been
offered a position at the branch.

Focus (DIY) was founded by Bill Archer in 1987, with six stores
in the Midlands and the north of England.  The company had 178
stores in England, Scotland, and Wales, and employed more than
3,900 staff.


HEALTHCARE LOCUMS: Restates First Half 2010 Profit Figures
----------------------------------------------------------
Alistair Gray at The Financial Times reports that Healthcare
Locums, whose shares were suspended in the wake of accounting
irregularities, has once again restated profit figures for a
disputed six-month period in 2010.

The Aim-quoted company last year reported interim pre-tax profits
of GBP6.8 million for the first half of 2010, the FT recounts.
The FT notes that last month, that figure was revised to GBP3.5
million "in order to comply with accounting policies".

On Friday, the staffing agency, one of the world's biggest
medical specialists, made a further amendment to the 2010 figure,
the FT relates.  According to the FT, it recorded a pre-tax
profit of GBP800,000 as a result of higher "administrative
Expenses."

Healthcare Locums, as cited by the FT, said that since the
publication of the annual report, a "further investigation has
identified that an additional GBP2.7 million of adjustments is
required: GBP1.3 million for legal costs incorrectly capitalized
and GBP1.4 million for incorrectly capitalized payroll costs and
other adjustments".

Kate Bleasdale, who founded the staffing agency, was suspended
from Healthcare Locums this year pending an investigation into
accounting discrepancies, the FT recounts.

As reported by the Troubled Company Reporter-Europe on Sept. 14,
2011, the Financial Times related that Healthcare Locums'
shareholders narrowly voted to approve a GBP61 million (US$96
million) capital raising at a tense extraordinary meeting on
Sept. 13.

The refinancing plan was backed by 77.25% of votes cast, despite
a revolt by some institutional investors who said it would
excessively dilute existing stakes, the FT disclosed.  It needed
75% approval to pass, the FT noted.

Healthcare Locums is a UK-based medical recruitment agency.


INVESCO PERPETUAL: Unveils Firm's Voluntary Liquidation Details
---------------------------------------------------------------
StockMarketWire.com reports that Invesco Perpetual Recovery Trust
has published a circular setting out details of the proposed
members' voluntary liquidation of the company.

According to StockMarketWire.com, the Articles require the
directors to convene a general meeting of the company to be held
not later than Oct. 27, 2011, at which a resolution must be
proposed requiring it to be wound up voluntarily unless the
directors are released from that obligation.

StockMarketWire.com relates that the Board said it has
investigated potential options for a reconstruction of the
company to allow shareholders to elect to roll over their
investment into shares in another investment vehicle in a tax
efficient manner as an alternative to cash.

However, no such option has become available principally due to
the costs involved and the uncertain level of take-up, the report
adds.


LEIGH CENTURIONS: In Urgent Talks with RFL, Sponsors Over Future
----------------------------------------------------------------
The Press Association reports that Leigh Centurions acting
chairman Keith Freer said club is in danger of going into
liquidation.

The club has been in financial crisis since their major backer
Arthur Thomas was forced to withdraw his support earlier this
year and their failure to reach Sunday's Grand Final was another
body blow, according to the report.

The news agency says Leigh's players have not been paid this
month and the club are in urgent talks with both the Rugby
Football League and sponsors in a bid to prevent them folding.

"The loss to Sheffield has resulted in a serious cash flow issue
which the directors are attempting to resolve," the Press
Association quotes Mr. Freer as saying in a statement.

"There have been intensive talks internally and we have been in
deep negotiation with the Rugby Football League, the local
authority, Leigh Sporting Village, sponsors, the corporate club
and Leigh Independent Supporters' Association.

"We are assessing urgently what monies are available in the short
and medium term to meet all liabilities. At the same time, we are
looking forward to what is achievable next season.

"There is a way forward but this will require some very hard
decisions to avoid the club going into liquidation.

"The current liabilities are not that great and, with the
assistance of a few, we will be able to go forward into next
season with a sound financial footing provided everyone rallies
behind the club.

"The alternative is we cease to trade and no future for Leigh.
This prospect is not acceptable and I know that the supporters of
Leigh will expect us to explore every avenue to protect the
club."

Mr. Freer, as cited by the report, said the club hoped to provide
more encouraging news at a fans' forum this Wednesday.

The club is currently looking for a new head coach following Ian
Millward's recent appointment at Castleford, the Press
Association notes.

The Leigh Centurions are an English professional rugby league
club based in Leigh, Greater Manchester.  The club was founded in
1878 as Leigh Rugby Football Club and are one of the original
twenty-two clubs that formed the Northern Rugby Football Union in
1895.


PEPPER POST: Halo Post Takes Over Pepper's Noel Street Premises
---------------------------------------------------------------
George Bevir at broadcastnow.co.uk reports that Halo Post
Production has taken over the lease of Pepper Post's former
premises on Noel Street.

The Soho facility, which has been vacant since Pepper was put
into insolvent liquidation in June, will be used by Halo as the
base for its expansion into film sound, according to the report.

The news agency notes that the Noel Street building is already
home to a film mixing stage, with a Dolby Premier mixing theatre,
a DFC Gemini desk and a Barco HD projector. It also contains
three sound suites and an additional 18 offline suites and
grading rooms that will be used across documentary, drama and
film work.

According to the report, Halo chief executive John Rogerson said
the UK was in "desperate" need of quality dubbing stages for
mixing films.

"Also, you don't have to look far to see that the model of
building higher in TV is not always successful," Mr. Rogerson
told Broadcast.

Future Film Group put Pepper Post into insolvent liquidation in
June this year citing "market conditions".  Liquidators failed to
find anyone to take over Pepper's other Soho site, on Greek
Street.

Geoffrey Lambert Carton-Kelly and Simon Bower of Baker Tilly
Restructuring and Recovery LLP were appointed joint
administrators of Pepper Post Production Ltd. on July 2, 2008.


PLYMOUTH ARGYLE FC: James Brent Meets Staff, Discusses Pay
----------------------------------------------------------
Insider Media Limited reports that Plymouth Argyle Football
Club's hopeful suitor James Brent has met with the club's staff
and players to discuss their pay concerns.

The team's players have not been paid in full since March,
according to the report.

Insider Media Limited notes that workers have also carried on
without pay for most of the year to keep the beleaguered club
afloat since it went into administration in March.

Mr. Brent, the businessman and owner of the Akkeron Group, is
hopeful his takeover of the League Two side will be completed by
mid-October, the report notes.  Insider Media Limited relates
that it has been reported that the hotelier promised to pay all
future wages if he takes control in a bid to make the debt-laden
club sustainable.

Unpaid wage debts of a reported GBP3.5 million will also need to
be settled as part of the takeover deal, the report says.

Club employees were not paid last month and only got 40% of their
September wages, the report discloses.

However, administrator The P&A Partnership is releasing the
takings from Argyle's September home matches to help staff,
Insider Media Limited notes.  The report relays that the proceeds
of the sale of season tickets are banked into a separate ring-
fenced account which the joint administrators can draw a
proportion of each home game.

The report says season ticket takings and gate receipts are
factored into the administrators' monthly cashflow forecast which
continues to show a significant trading loss of about GBP250,000
per month.  The trading loss predominantly relates to the payroll
costs of the staff and players, Insider Media Limited adds.

Plymouth Argyle Football Club, commonly known as Argyle, or by
their nickname, The Pilgrims, is an English professional football
club based in Central Park, Plymouth.  It plays in Football
League One, the third division of the English football league
system.


SEMPERIAN SENIOR: S&P Withdraws 'B' Rating on Class D Notes
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its credit ratings on
Semperian Senior Funding PLC's class A, C, and D notes.

"The withdrawals follow our receipt of a request from the issuer
to withdraw the ratings. In our opinion, the current ratings
reflect appropriately our opinion of the creditworthiness of each
class," S&P related.

Semperian Senior Funding is a cash flow collateralized loan
obligation (CLO) transaction that securitizes loans to individual
infrastructure projects originated under the U.K.'s private
finance initiative (PFI) or public-private partnership (PPP)
program. It is managed by Semperian Capital Management Ltd. The
transaction closed in December 2007 and has a legal final
maturity date of June 30, 2050.

Ratings List

Class             Rating
             To            From

Ratings Withdrawn

Semperian Senior Funding PLC
GBP363.035 Million Floating-Rate Notes

A            NR            BBB (sf)
C            NR            BB (sf)
D            NR            B (sf)

NR--Not rated.


SOUTHERN CROSS: 250 Care Homes Transferred to New Operators
-----------------------------------------------------------
BBC News reports that 250 homes, or a third of Southern Cross
care homes, have been transferred to new operators.  The
transfer, BBC relates, would be followed by further transfers in
October and November.

Southern Cross was the UK's biggest care home operator, with 752
homes, but ran into difficulties when it was unable to pay its
rent to landlords, BBC recounts.  In July, the firm said it was
to cease trading after all of its landlords said they wanted to
leave the group, BBC notes.

The first "wave" of homes have been transferred to about 18
different operators, BBC discloses.  Its largest landlord, NHP,
which owns 249 of the homes, will be included in the second wave,
BBC notes.  NHP is forming a new company, HC-One, with turnaround
specialists Court Cavendish to run the homes itself, BBC
discloses.

According to BBC, Southern Cross said it had entered
unconditional business purchase agreements covering 70% of its
homes, with the remaining 30% still in progress.  It said all the
homes would be transferred by the end of the year and the company
would be wound up, BBC notes.

Southern Cross Healthcare provides residential and nursing care.
It also operates homes that specialize in treating people with
dementia, mental health problems and learning disabilities.


SOUTHERN CROSS: Union Raises Fears Over Stapleton House Transfer
----------------------------------------------------------------
Terry Kelly at The Shields Gazette reports that fears have been
raised over the transfer of South Tyne-side care home Stapleton
House to Four Seasons Healthcare after its previous operator
Southern Cross group plans to go into administration at the end
of this month.

However, the report notes that GMB union officials have compared
the move to "jumping from the frying pan into the fire", as Four
Seasons has faced its own serious financial issues.

Union leaders say the Care Quality Commission (CQC) must
establish how Four Seasons can pay debts of GBP750 million, due
to be repaid next September, from assets of GBP350 million,
according to The Shields Gazette.

The report says Four Seasons will take over 57 former Southern
Cross homes across the country, including the Jarrow home, which
has previously accommodated 45 residents, with issues ranging
from old age to dementia and physical disability.

GMB union officials are worried about the future of their members
at the homes, The Shields Gazette discloses.

The union has called on the CQC to investigate the transfer and
look into how Four Seasons has the financial stability to avoid
being labeled "son of Southern Cross," The Shields Gazette
relates.

"Four Seasons have to use income from residents and local
councils, meant to care for the residents, to pay interests on
these enormous debts. . . . The only apparent option for Four
Seasons to pay back the GBP750 million is to use public money
meant to care for the elderly.  This is totally unacceptable. . .
. Councils must ensure taxpayers' funds are not used to prop up
Four Seasons or any other financially unstable care home
operator, the report quoted GMB National Officer Justin Bowden as
saying.

"We must warn families that the scene is set for Four Seasons
Healthcare, and some other operators, to go the way of Southern
Cross."

But an unnamed spokesman for Four Seasons Healthcare has called
the GMB's claims "substantially wrong", warning they will "cause
unnecessary worry to elderly residents and relatives, and to
employees," the report notes.  "Four Seasons is in good financial
health. Unlike Southern Cross, it is trading profitably. Our
admissions are up compared to last year, in contrast to a decline
across the sector," the unnamed spokesman added, the report
relates.


SWINDON TRAVEL: Ceases Trading, To Go In Administration This Week
-----------------------------------------------------------------
Scott McPherson at Swindon Adviser reports that Swindon Travel
has ceased trading and will be put into administration this week.

Swindon Travel customers have been told if they have paid in cash
they will have to make a claim against the company when it goes
into administration, according to Swindon Adviser.

Swindon Adviser discloses that a statement from the company
directors, on their website reads: "It is with much regret that
we have come to the difficult decision that the company is no
longer in a position to continue trading.  The company has ceased
to trade with immediate effect and all staff has been dismissed.
No tickets for future events or scheduled trips will be
dispatched.
If you hold tickets for a future event you will have to make your
own travel arrangements as the existing coach travel arrangements
will not be honored.  Regrettably if you paid by cash or are not
eligible to a refund from your credit card company or bank you
can make a claim against the company.  It is likely that the
company will be placed into administration this week".

Swindon Travel is one of Swindon's most popular travel companies.
The company has been based in Havelock Street since 2002.


* U.K.: Business Insolvencies Drop To Lowest Point in August
------------------------------------------------------------
Insurance Age reports that the latest Insolvency Index from
Experian has revealed that the rate of insolvencies has dropped
to its lowest point since February.

Insolvencies dropped to 0.08% in August which is a marginal
increase compared to the rate in August last year when 0.07% of
the business population became insolvent, Insurance Age
discloses.

According to Insurance Age, Experian said the overall financial
strength score of businesses in the UK dropped from 81.06 in
August 2010 to 79.18 in August this year.  However, large
companies saw their financial strength score improve from 81.06
to 85.91.

It was also the largest companies that saw insolvencies drop year
on year with the rate dropping from 0.14% to 0.09% this year, the
report notes.

Businesses employing 11-50 employees performed the worst in
August with the highest rate and 0.21% of the business population
failing, Insurance Age relays.

In terms of regions, the North East and West Midlands had the
highest rate of insolvency in August at 0.11%. Yorkshire and the
East Midlands were the most improved going from 0.13% to 0.10%
and 0.09% to 0.07% respectively.

Insurance Age notes Experian said the South West was the best
performing region with the lowest insolvency rate with 0.06%.
All sectors saw a fall in financial strength score, lead by
Utilities companies who saw the biggest drop of all the sectors
from 79.62 last year to 76.55 in August 2011.

"While insolvency rates in August were the lowest since February
2011, our analysis shows that regional variances continue to
underline the importance of closely monitoring the financial
health of the suppliers and customers that companies do business
with," Insurance Age quotes Max Firth, MD of Experian Business
Information Services, as saying.


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


* S&P Takes Rating Actions on 16 European Synthetic CDO Tranches
----------------------------------------------------------------
Standard & Poor's Ratings Services took various rating actions on
16 European collateralized debt obligation (CDO) tranches.

Specifically, S&P:

    Placed on CreditWatch negative its ratings on 12 tranches;

    Lowered its rating on one tranche;

    Lowered and removed from CreditWatch negative its rating on
    one tranche;

    Affirmed its rating on one tranche; and

    Withdrew its rating on one tranche.

A full list of the rating actions is available for free at:

                http://ResearchArchives.com/t/s?771b

"The rating actions follow our recent rating actions on the
underlying collateral, reference obligation, or guarantor.
According to the transaction documents, the ratings on these
tranches are weak-linked to the rating on the underlying
collateral, reference obligation, or guarantor. Under our
criteria applicable to transactions such as these, we would
generally reflect changes to the rating on the collateral,
reference obligation, or guarantor in our rating on the tranche
(see 'Related Criteria And Research')," S&P related.


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------

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

AUSTRIA
-------
CHRIST WATER TEC     CWTE IX      -5754285.054  165995618.1
CHRIST WATER TEC     8131204Q GR  -5754285.054  165995618.1
CHRIST WATER TEC     CWT EU       -5754285.054  165995618.1
CHRIST WATER TEC     CWT PZ       -5754285.054  165995618.1
CHRIST WATER TEC     CRSWF US     -5754285.054  165995618.1
CHRIST WATER TEC     CWT AV       -5754285.054  165995618.1
CHRIST WATER TEC     CWT EO       -5754285.054  165995618.1
CHRIST WATER-ADR     CRSWY US     -5754285.054  165995618.1
KA FINANZ AG         3730Z AV     -9072224.934  22043329918
LIBRO AG             LIBR AV      -110486313.8    174004185
LIBRO AG             LIB AV       -110486313.8    174004185
LIBRO AG             LB6 GR       -110486313.8    174004185
LIBRO AG             LBROF US     -110486313.8    174004185
S&T SYSTEM I-ADR     STSQY US     -31284693.65  200208144.5
S&T SYSTEM INTEG     SYA GR       -31284693.65  200208144.5
S&T SYSTEM INTEG     SNTS ES      -31284693.65  200208144.5
S&T SYSTEM INTEG     STSQF US     -31284693.65  200208144.5
S&T SYSTEM INTEG     SYA EX       -31284693.65  200208144.5
S&T SYSTEM INTEG     SNT EU       -31284693.65  200208144.5
S&T SYSTEM INTEG     SYAG IX      -31284693.65  200208144.5
S&T SYSTEM INTEG     SLSYF US     -31284693.65  200208144.5
S&T SYSTEM INTEG     SNTS IX      -31284693.65  200208144.5
S&T SYSTEM INTEG     SNTA PZ      -31284693.65  200208144.5
S&T SYSTEM INTEG     SNT EO       -31284693.65  200208144.5
S&T SYSTEM INTEG     SNT AV       -31284693.65  200208144.5
SKYEUROPE            SKY PW       -89480492.56  159076577.5
SKYEUROPE            SKYP PW      -89480492.56  159076577.5
SKYEUROPE HLDG       SKYA PZ      -89480492.56  159076577.5
SKYEUROPE HLDG       SKURF US     -89480492.56  159076577.5
SKYEUROPE HLDG       SKYPLN EU    -89480492.56  159076577.5
SKYEUROPE HLDG       SKYV IX      -89480492.56  159076577.5
SKYEUROPE HLDG       SKY EU       -89480492.56  159076577.5
SKYEUROPE HLDG       SKY AV       -89480492.56  159076577.5
SKYEUROPE HLDG       SKY EO       -89480492.56  159076577.5
SKYEUROPE HLDG       SKY LI       -89480492.56  159076577.5
SKYEUROPE HLDG       SKYPLN EO    -89480492.56  159076577.5
SKYEUROPE HLDG       S8E GR       -89480492.56  159076577.5
SKYEUROPE HOL-RT     SK1 AV       -89480492.56  159076577.5

BELGIUM
-------
ANTWERP GATEWAY      496769Z BB    -51947070.5  266390692.5
BALTA SARL           3679528Z BB  -213655263.9  956320938.3
BIO ANALYTICAL R     3723198Z BB  -41974594.66  193574592.4
COMPAGIMMOBDU BR     3727538Z BB  -5867835.156  164809982.4
EON BELGIUM NV       3730258Z BB  -8101077.851  251156828.9
EXPLORER NV          4289181Z BB  -11594573.86  281605390.1
FINANCIETOREN NV     3729210Z BB  -42317802.71  777656536.7
IRUS ZWEIBRUCKEN     3738979Z BB  -12563627.16    113270540
JULIE LH BVBA        3739923Z BB  -25317190.48  175772641.2
KIA MOTORS BELGI     3729658Z BB  -40305545.64  136441397.8
KOREAN MOTOR CO      4161341Z BB  -6368236.209  149093852.6
LAND VAN HOP NV      3727898Z BB  -141334.2956  138885001.8
SABENA SA            SABA BB      -85494497.66   2215341060
SAPPI EUROPE SA      3732894Z BB  -119299289.7  158958659.1
SCARLET BELGIUM      4171157Z BB  -28951978.94  137456538.4
SCARLETT BUSINES     3724850Z BB  -71847152.77    130053838
SOCIETE NATIONAL     3726762Z BB  -39045394.16  506987115.6
UNIVERSAL MUSIC      3738307Z BB  -12191533.66  143700285.8

CROATIA
-------
BADEL 1862 DD        BD62RA CZ    -14314922.98  136681894.4
MAGMA DD             MGMARA CZ    -6945891.192  118172308.3
OT OPTIMA TELEKO     2299892Z CZ  -83005841.81  114547056.6
OT-OPTIMA TELEKO     OPTERA CZ    -83005841.81  114547056.6

CYPRUS
------
LIBRA HOLIDA-RTS     LBR CY       -39648682.41  209021322.6
LIBRA HOLIDA-RTS     LGWR CY      -39648682.41  209021322.6
LIBRA HOLIDAY-RT     3167808Z CY  -39648682.41  209021322.6
LIBRA HOLIDAYS       LHGCYP EO    -39648682.41  209021322.6
LIBRA HOLIDAYS       LHGCYP EU    -39648682.41  209021322.6
LIBRA HOLIDAYS       LHGR CY      -39648682.41  209021322.6
LIBRA HOLIDAYS G     LHG CY       -39648682.41  209021322.6
LIBRA HOLIDAYS G     LHG EO       -39648682.41  209021322.6
LIBRA HOLIDAYS G     LHG PZ       -39648682.41  209021322.6
LIBRA HOLIDAYS G     LHG EU       -39648682.41  209021322.6
LIBRA HOLIDAYS-P     LBHG PZ      -39648682.41  209021322.6
LIBRA HOLIDAYS-P     LBHG CY      -39648682.41  209021322.6

CZECH REPUBLIC
--------------
CKD PRAHA HLDG       CKDH US      -89435858.16    192305153
CKD PRAHA HLDG       CDP EX       -89435858.16    192305153
CKD PRAHA HLDG       CKDPF US     -89435858.16    192305153
CKD PRAHA HLDG       CKDH CP      -89435858.16    192305153
CKD PRAHA HLDG       297687Q GR   -89435858.16    192305153
CSA AS               1000Z CP     -127978073.4    432492914
SETUZA AS            2994767Q EO  -61453764.17  138582273.6
SETUZA AS            SETUZA PZ    -61453764.17  138582273.6
SETUZA AS            SZA GR       -61453764.17  138582273.6
SETUZA AS            SETU IX      -61453764.17  138582273.6
SETUZA AS            SETUZA CP    -61453764.17  138582273.6
SETUZA AS            2994763Q EU  -61453764.17  138582273.6
SETUZA AS            2994755Q EU  -61453764.17  138582273.6
SETUZA AS            2994759Q EO  -61453764.17  138582273.6
SETUZA AS            SZA EX       -61453764.17  138582273.6

DENMARK
-------
AB-B NEW             ABBN DC      -101428498.9  298588010.2
AKADEMISK BOLDK      ABB DC       -101428498.9  298588010.2
BRIGHTPOINT EURO     4506883Z DC  -18616347.98  189113937.7
CARLSBERG IT A/S     4503891Z DC  -47250912.74  105417004.1
CIMBER STERLING      CIMBE EU     -5227729.374  192575897.9
CIMBER STERLING      CIMBER DC    -5227729.374  192575897.9
CIMBER STERLING      CIMBE EO     -5227729.374  192575897.9
CIMBER STERLING      CIMBER BY    -5227729.374  192575897.9
ELITE SHIPPING       ELSP DC      -27715991.74  100892900.3
FINANSIERINGSSEL     3977156Z DC  -2410332.543  110737536.3
GREEN WIND ENERG     G7W1 GR      -11320362.72  176234029.6
GREEN WIND ENERG     GW EO        -11320362.72  176234029.6
GREEN WIND ENERG     GW BY        -11320362.72  176234029.6
GREEN WIND ENERG     G7W GR       -11320362.72  176234029.6
GREEN WIND ENERG     GW DC        -11320362.72  176234029.6
GREEN WIND ENERG     GWEUR EO     -11320362.72  176234029.6
GREEN WIND ENERG     GW PZ        -11320362.72  176234029.6
GREEN WIND ENERG     GWEUR EU     -11320362.72  176234029.6
GREEN WIND ENERG     GW EU        -11320362.72  176234029.6
HOLDINGSELSKABET     BOHC IX      -11320362.72  176234029.6
HOLDINGSELSKABET     BODIL DC     -11320362.72  176234029.6
LAURITZEN TANKER     3979732Z DC  -4428758.299  209128194.8
NATURGAS FYN DIS     3984844Z DC  -2862743.662    194651527
NESTLE DANMARK A     3896690Z DC  -31272771.75    160779148
OBTEC                OBTEC DC     -16220512.31    156484311
OBTEC                OBT DC       -16220512.31    156484311
OBTEC-NEW SHARES     OBTECN DC    -16220512.31    156484311
OBTEC-OLD            OBTN DC      -16220512.31    156484311
ORESUNDSBRO KONS     1015Z SS     -583944155.3   3614975702
OSTERFALLEDPARKE     3985676Z DC  -26063679.19  302533679.4
OW SUPPLY & TRAD     3986892Z DC    -4299263.6  165798948.6
REITAN SERVICEHA     3984284Z DC  -1371178.576    127192706
ROSKILDE BANK        RSKC IX      -532868840.9   7876687324
ROSKILDE BANK        ROSBF US     -532868840.9   7876687324
ROSKILDE BANK        ROSK PZ      -532868840.9   7876687324
ROSKILDE BANK        ROSK DC      -532868840.9   7876687324
ROSKILDE BANK        ROSK EU      -532868840.9   7876687324
ROSKILDE BANK        ROSKF US     -532868840.9   7876687324
ROSKILDE BANK        ROSK EO      -532868840.9   7876687324
ROSKILDE BANK        RKI GR       -532868840.9   7876687324
ROSKILDE BANK-RT     916603Q DC   -532868840.9   7876687324
ROSKILDE BAN-NEW     ROSKN DC     -532868840.9   7876687324
ROSKILDE BAN-RTS     ROSKT DC     -532868840.9   7876687324
SCANDINAVIAN BRA     SBSC IX      -16220512.31    156484311
SCANDINAVIAN BRA     SBS1EUR EU   -16220512.31    156484311
SCANDINAVIAN BRA     SBSD PZ      -16220512.31    156484311
SCANDINAVIAN BRA     SBS1 BY      -16220512.31    156484311
SCANDINAVIAN BRA     SBS DC       -16220512.31    156484311
SCANDINAVIAN BRA     SBS1EUR EO   -16220512.31    156484311
SCANDINAVIAN BRA     SBS1 EU      -16220512.31    156484311
SCANDINAVIAN BRA     SBS1 EO      -16220512.31    156484311
SCHAUMANN PROP       SCHAUP EU    -101428498.9  298588010.2
SCHAUMANN PROP       SCHAUP DC    -101428498.9  298588010.2
SCHAUMANN PROP       SCHAUP PZ    -101428498.9  298588010.2
SCHAUMANN PROP       SCHAU BY     -101428498.9  298588010.2
SCHAUMANN PROP       SCHAU EO     -101428498.9  298588010.2
SCHAUMANN PROP       SCHAUEUR EO  -101428498.9  298588010.2
SCHAUMANN PROP       SCHAUEUR EU  -101428498.9  298588010.2
SCHAUMANN PROP       SCHAU EU     -101428498.9  298588010.2

FRANCE
------
3 SUISSES FRANCE     4724713Z FP  -151969329.6    262408720
ACERINOX FRANCE      4748633Z FP  -4970414.587  106673210.6
AIR COMMAND SYST     4470055Z FP  -24012413.92  236706831.5
AIRCELLE             61830Q FP    -627210407.1   1037716117
AKERYS SERVICES      4685937Z FP  -8561729.525  141611798.1
ALCATEL-LUCENT E     3642975Z FP  -46648079.19  510672247.2
ALCATEL-LUCENT F     3647063Z FP  -566942548.5   4810123614
AL-KHATTIYA LEAS     4783713Z FP   -8522159.06  132815959.7
ALUMINIUM PECHIN     3650903Z FP  -469114028.7   1322244624
ARIANESPACE          211530Z FP   -51743991.45   3354710780
ATARI                IFOE PZ      -5534100.115  138494402.9
ATARI SA             IFGA GR      -5534100.115  138494402.9
ATARI SA             ATA EB       -5534100.115  138494402.9
ATARI SA             ATA QM       -5534100.115  138494402.9
ATARI SA             ATA FP       -5534100.115  138494402.9
ATARI SA             ATA EU       -5534100.115  138494402.9
ATARI SA             IFGA TH      -5534100.115  138494402.9
ATARI SA             ATA S1       -5534100.115  138494402.9
ATARI SA             ATA TQ       -5534100.115  138494402.9
ATARI SA             ATA PZ       -5534100.115  138494402.9
ATARI SA             ATA BQ       -5534100.115  138494402.9
ATARI SA             ATANV FP     -5534100.115  138494402.9
ATARI SA             ATA EO       -5534100.115  138494402.9
ATARI-NEW            3715502Q FP  -5534100.115  138494402.9
AUTOMOBILES CITR     3648863Z FP  -298695778.9   1879542934
BELVEDERE            BVD PW       -242409144.5  831869150.8
BELVEDERE - RTS      554451Q FP   -242409144.5  831869150.8
BELVEDERE - RTS      702036Q FP   -242409144.5  831869150.8
BELVEDERE SA         BVD PZ       -242409144.5  831869150.8
BELVEDERE SA         BVD EO       -242409144.5  831869150.8
BELVEDERE SA         BED TH       -242409144.5  831869150.8
BELVEDERE SA         BELV NM      -242409144.5  831869150.8
BELVEDERE SA         BVDRF US     -242409144.5  831869150.8
BELVEDERE SA         BEVD IX      -242409144.5  831869150.8
BELVEDERE SA         BELV FP      -242409144.5  831869150.8
BELVEDERE SA         BVD FP       -242409144.5  831869150.8
BELVEDERE SA         BED GR       -242409144.5  831869150.8
BELVEDERE SA         BVD EU       -242409144.5  831869150.8
BELVEDERE SA         BVD S1       -242409144.5  831869150.8
BELVEDERE SA-NEW     BVDNV FP     -242409144.5  831869150.8
BELVEDERE SA-NEW     8198283Q FP  -242409144.5  831869150.8
BELVEDERE SA-NEW     946529Q FP   -242409144.5  831869150.8
BELVEDERE SA-RTS     BVDDS FP     -242409144.5  831869150.8
BENP LILLEBONNE      4507291Z FP  -14494480.15  341710346.6
BOURBON SA           GBBUSD EO       -1.24E+11   5086583847
BOURBON SA           GBB PZ          -1.24E+11   5086583847
BOURBON SA           GBB EO          -1.24E+11   5086583847
BOURBON SA           GBB EU          -1.24E+11   5086583847
BOURBON SA           GBB GK          -1.24E+11   5086583847
BOURBON SA           BOUBF US        -1.24E+11   5086583847
BOURBON SA           GSH GR          -1.24E+11   5086583847
BOURBON SA           GBBGBX EU       -1.24E+11   5086583847
BOURBON SA           GBB BQ          -1.24E+11   5086583847
BOURBON SA           GBBGBP EO       -1.24E+11   5086583847
BOURBON SA           GBBUSD EU       -1.24E+11   5086583847
BOURBON SA           GBB FP          -1.24E+11   5086583847
BOURBON SA           GPBN IX         -1.24E+11   5086583847
BOURBON SA           GBB S1          -1.24E+11   5086583847
BOURBON SA           GBB EB          -1.24E+11   5086583847
BOURBON SA           3320185Z FP     -1.24E+11   5086583847
BOURBON SA           GBBGBX EO       -1.24E+11   5086583847
BOURBON SA           GBB NQ          -1.24E+11   5086583847
BOURBON SA           GBB IX          -1.24E+11   5086583847
BOURBON SA           GSH TH          -1.24E+11   5086583847
BOURBON SA           GBB TQ          -1.24E+11   5086583847
BOURBON SA           GBB LI          -1.24E+11   5086583847
BOURBON SA           GBB QM          -1.24E+11   5086583847
BOURBON SA - NEW     3510282Q FP     -1.24E+11   5086583847
BOURBON SA - NEW     GBBNV FP        -1.24E+11   5086583847
BOURBON SA - NEW     8130287Q FP     -1.24E+11   5086583847
BOURBON SA - RTS     8446802Z FP     -1.24E+11   5086583847
BOURBON SA/NEW       879958Q FP      -1.24E+11   5086583847
CADES                211430Z FP      -1.32E+11   9983888303
CARCOOP FRANCE       4690569Z FP  -531951.7338  185621693.8
CARI SAS             4509915Z FP  -10848329.91  182415382.5
CARREFOUR HYPERM     3897338Z FP    -419813693   4772178623
CARREFOUR IMPORT     4519455Z FP  -41015523.06  355888577.4
CARRERE GROUP        CARF PZ      -9829531.944    279906700
CARRERE GROUP        CARG FP      -9829531.944    279906700
CARRERE GROUP        CRRHF US     -9829531.944    279906700
CARRERE GROUP        CAR2 EO      -9829531.944    279906700
CARRERE GROUP        XRR GR       -9829531.944    279906700
CARRERE GROUP        CRGP IX      -9829531.944    279906700
CARRERE GROUP        CAR FP       -9829531.944    279906700
CARRERE GROUP        CAR2 EU      -9829531.944    279906700
CDISCOUNT            4690913Z FP  -92485.81144  331210839.3
CELINE SA            3636031Z FP  -6546413.145    108306445
CMA CGM AGENCES      4746849Z FP  -7380117.985  187789703.7
CO PETROCHIMIQUE     4682369Z FP  -79561628.19  444321642.5
COMPAGNIE IMMOBI     CIMB FP      -18851260.64  237751743.8
COMPAGNIE IMMOBI     CIMB S1      -18851260.64  237751743.8
COMPAGNIE IMMOBI     CIMB EO      -18851260.64  237751743.8
COMPAGNIE IMMOBI     CIMB EU      -18851260.64  237751743.8
COMPAGNIE IMMOBI     CIMB PZ      -18851260.64  237751743.8
CSF                  3635887Z FP  -66127486.72   3311857250
DESCAMPS SAS         4503139Z FP  -2912961.458  104843475.7
EADS SECA            4706441Z FP  -38679556.91  142045208.8
EDENRED              EDEN S1       -1395452285   5596512266
EDENRED              EDEN QM       -1395452285   5596512266
EDENRED              EDNMF US      -1395452285   5596512266
EDENRED              EDEN EU       -1395452285   5596512266
EDENRED              EDEN BQ       -1395452285   5596512266
EDENRED              EDEN PZ       -1395452285   5596512266
EDENRED              EDEN EO       -1395452285   5596512266
EDENRED              EDEN IX       -1395452285   5596512266
EDENRED              QSV GR        -1395452285   5596512266
EDENRED              EDEN FP       -1395452285   5596512266
EDENRED              EDENUSD EU    -1395452285   5596512266
EDENRED              QSV TH        -1395452285   5596512266
EDENRED              EDEN TQ       -1395452285   5596512266
EDENRED              EDENUSD EO    -1395452285   5596512266
EDENRED              EDEN EB       -1395452285   5596512266
EDF EN FRANCE        4686529Z FP  -4085423.459  508820792.6
EDF EN OUTRE MER     4679713Z FP  -2598508.843  158364874.7
EMPAIN GRAHAM DV     EMGD FP      -18851260.64  237751743.8
FRANFINANCE LOCA     4689993Z FP  -69780982.12   1638852912
GRANDE PAROISSE      GAPA FP      -927267926.9    629287290
GRANDE PAROISSE      GDPA FP      -927267926.9    629287290
GRANDE PAROISSE      GDPXF US     -927267926.9    629287290
GROUPE BOURBON       BOUR FP         -1.24E+11   5086583847
GROUPE BOURBON       GPBJF US        -1.24E+11   5086583847
GROUPE MONITEUR      317840Z FP   -116707395.4  610106709.3
GROUPE PROGRES S     4734137Z FP  -165060841.9  123458910.5
HP ENTREPRISE SE     4698081Z FP  -97546439.37  116383810.4
HUREL-DUBOIS         HDUN FP      -627210407.1   1037716117
I BASE               757542Z FP   -11937366.64  400192956.6
INFOGRAMES - REG     IFOE IX      -5534100.115  138494402.9
INFOGRAMES - REG     IFG TQ       -5534100.115  138494402.9
INFOGRAMES - REG     IFG EU       -5534100.115  138494402.9
INFOGRAMES - REG     IFG FP       -5534100.115  138494402.9
INFOGRAMES - REG     IFG EO       -5534100.115  138494402.9
INFOGRAMES E-NEW     IFGN FP      -5534100.115  138494402.9
INFOGRAMES ENT       IFGNR FP     -5534100.115  138494402.9
INFOGRAMES ENT       IFOY IX      -5534100.115  138494402.9
INFOGRAMES ENT       IFGEF US     -5534100.115  138494402.9
INFOGRAMES ENT       IFG PZ       -5534100.115  138494402.9
INFOGRAMES ENT       2986980Q EU  -5534100.115  138494402.9
INFOGRAMES ENT       IFG GR       -5534100.115  138494402.9
INFOGRAMES ENT       2986984Q EO  -5534100.115  138494402.9
INFOGRAMES ENTMT     IFG VX       -5534100.115  138494402.9
INFOGRAMES ENTMT     IFGRF US     -5534100.115  138494402.9
INFOGRAMES- RTS      IFGDS FP     -5534100.115  138494402.9
INFOGRAMES-NEW       IFGNV FP     -5534100.115  138494402.9
INFOGRAMES-RTS       3133246Q FP  -5534100.115  138494402.9
ING LEASE FRANCE     4699881Z FP  -49994620.93  363520475.8
ISOCHEM SA           3540732Z FP  -9354435.203  103629611.4
ITM REGION PARIS     4681817Z FP  -49662079.76  124321085.9
JACQUOT ET CO        4721473Z FP  -25605144.44  101591294.6
JTEKT AUTOMOTIVE     4505819Z FP  -14610384.74    211911630
JTEKT AUTOMOTIVE     4504595Z FP  -17492036.59    163375360
JUNGHEINRICH FIN     4635025Z FP  -14429677.13  223424949.4
LAB DOLISOS          DOLI FP      -27752176.19  110485462.4
LAB DOLISOS          LADL FP      -27752176.19  110485462.4
LENOVO FRANCE SA     4710049Z FP  -1944677.438  137134536.2
MATUSSIERE & FOR     MTUSF US     -77896689.09  293868350.8
MATUSSIERE & FOR     1007765Q FP  -77896689.09  293868350.8
MILLIMAGES           MLIGF US     -1006050.249  113454378.9
MILLIMAGES           MIL S1       -1006050.249  113454378.9
MILLIMAGES           MIL1 EO      -1006050.249  113454378.9
MILLIMAGES           MILF PZ      -1006050.249  113454378.9
MILLIMAGES           MG6 GR       -1006050.249  113454378.9
MILLIMAGES           MILI FP      -1006050.249  113454378.9
MILLIMAGES           8131905Q FP  -1006050.249  113454378.9
MILLIMAGES           MIL1 PZ      -1006050.249  113454378.9
MILLIMAGES           MLMG IX      -1006050.249  113454378.9
MILLIMAGES           MIL FP       -1006050.249  113454378.9
MILLIMAGES           MIL1 EU      -1006050.249  113454378.9
MILLIMAGES - RTS     MILDS FP     -1006050.249  113454378.9
MILLIMAGES-RTS       760037Q FP   -1006050.249  113454378.9
MVCI HOLIDAYS FR     4524959Z FP  -112193151.3  233381369.4
NESTLE WATERS SU     3634887Z FP    -100198554  212766860.3
NESTLE WATERS SU     3634879Z FP  -166540192.4  357871830.8
NEXANS COPPER FR     4744809Z FP  -22662074.82  308626962.2
NORDEX FRANCE SA     4521679Z FP  -6460150.538  206115454.1
NOVELIS FOIL FRA     4678593Z FP  -7951381.035  121719315.4
NOVEXEL SA           504169Z FP   -362303.7226  107272250.4
NRJ 12               4681713Z FP  -41481124.19  112522117.5
OROSDI               OROS EU      -51389802.68  181267113.2
OROSDI               OROS FP      -51389802.68  181267113.2
OROSDI               OROS S1      -51389802.68  181267113.2
OROSDI               OROS PZ      -51389802.68  181267113.2
OROSDI               OROS EO      -51389802.68  181267113.2
OROSDI-BACK          ORBA FP      -51389802.68  181267113.2
OROSDI-BACK          BACK IX      -51389802.68  181267113.2
PAGESJAUNES GRP      PAJ BQ        -3184867284   1167307980
PAGESJAUNES GRP      PAJGBX EU     -3184867284   1167307980
PAGESJAUNES GRP      PAJ EO        -3184867284   1167307980
PAGESJAUNES GRP      PAJ TQ        -3184867284   1167307980
PAGESJAUNES GRP      PAJUSD EO     -3184867284   1167307980
PAGESJAUNES GRP      PAJ PZ        -3184867284   1167307980
PAGESJAUNES GRP      PAJ VX        -3184867284   1167307980
PAGESJAUNES GRP      PAJ EB        -3184867284   1167307980
PAGESJAUNES GRP      QS3 TH        -3184867284   1167307980
PAGESJAUNES GRP      PAJ NQ        -3184867284   1167307980
PAGESJAUNES GRP      PAJ LI        -3184867284   1167307980
PAGESJAUNES GRP      PGJUF US      -3184867284   1167307980
PAGESJAUNES GRP      PAJ FP        -3184867284   1167307980
PAGESJAUNES GRP      PAJGBX EO     -3184867284   1167307980
PAGESJAUNES GRP      PAJ QM        -3184867284   1167307980
PAGESJAUNES GRP      PAJ IX        -3184867284   1167307980
PAGESJAUNES GRP      PAJ S1        -3184867284   1167307980
PAGESJAUNES GRP      PAJGBP EO     -3184867284   1167307980
PAGESJAUNES GRP      PAJUSD EU     -3184867284   1167307980
PAGESJAUNES GRP      PAJ GK        -3184867284   1167307980
PAGESJAUNES GRP      PAJ EU        -3184867284   1167307980
PAGESJAUNES GRP      QS3 GR        -3184867284   1167307980
PAGESJAUNES GRP      PAJP IX       -3184867284   1167307980
PEUGEOT CITROEN      3637183Z FP  -268215289.1  319403481.8
PITNEY BOWES         4634633Z FP  -11785422.82  184422748.8
REGIE PUBLICITAI     4691033Z FP  -5262294.526  112402724.7
REGIONAL COMPAGN     3635823Z FP  -11262048.65  587139828.4
RESEAU FERRE FRA     224063Z FP    -1967529685  70147358617
RHODIA SA            RHA BQ       -72552001.48   7951699362
RHODIA SA            RHDI TH      -72552001.48   7951699362
RHODIA SA            RHA EB       -72552001.48   7951699362
RHODIA SA            RHAGBP EO    -72552001.48   7951699362
RHODIA SA            2324015Q EO  -72552001.48   7951699362
RHODIA SA            RHADF US     -72552001.48   7951699362
RHODIA SA            RHANR PZ     -72552001.48   7951699362
RHODIA SA            RHD GR       -72552001.48   7951699362
RHODIA SA            RHAGBX EU    -72552001.48   7951699362
RHODIA SA            RHA VX       -72552001.48   7951699362
RHODIA SA            2324011Q EU  -72552001.48   7951699362
RHODIA SA            RHA TQ       -72552001.48   7951699362
RHODIA SA            RHA FP       -72552001.48   7951699362
RHODIA SA            RHDAF US     -72552001.48   7951699362
RHODIA SA            RHAGBX EO    -72552001.48   7951699362
RHODIA SA            RHAUSD EO    -72552001.48   7951699362
RHODIA SA            RHA S1       -72552001.48   7951699362
RHODIA SA            RHAY IX      -72552001.48   7951699362
RHODIA SA            RHA NQ       -72552001.48   7951699362
RHODIA SA            RHA IX       -72552001.48   7951699362
RHODIA SA            RHA GK       -72552001.48   7951699362
RHODIA SA            3218857Q IX  -72552001.48   7951699362
RHODIA SA            RHA QM       -72552001.48   7951699362
RHODIA SA            RHA PZ       -72552001.48   7951699362
RHODIA SA            RHA EO       -72552001.48   7951699362
RHODIA SA            RHAUSD EU    -72552001.48   7951699362
RHODIA SA            RHDI GR      -72552001.48   7951699362
RHODIA SA            RHA EU       -72552001.48   7951699362
RHODIA SA - NEW      3506266Q FP  -72552001.48   7951699362
RHODIA SA - NEW      8125782Q FP  -72552001.48   7951699362
RHODIA SA - NEW      RHANV FP     -72552001.48   7951699362
RHODIA SA - NEW      2335921Q FP  -72552001.48   7951699362
RHODIA SA - NEW      3156011Q FP  -72552001.48   7951699362
RHODIA SA-ADR        RHAYY US     -72552001.48   7951699362
RHODIA SA-NON RE     RHANR FP     -72552001.48   7951699362
RHODIA SA-RIGHTS     RHADS FP     -72552001.48   7951699362
RHODIA SA-RIGHTS     653447Q FP   -72552001.48   7951699362
RL INVEST SAS        4700369Z FP  -21424084.29    103412643
RODRIGUEZ GROUP      ROD FP        -38195223.8    238732565
RODRIGUEZ GROUP      RRGZF US      -38195223.8    238732565
RODRIGUEZ GROUP      ROD TQ        -38195223.8    238732565
RODRIGUEZ GROUP      ROD BQ        -38195223.8    238732565
RODRIGUEZ GROUP      ROD PZ        -38195223.8    238732565
RODRIGUEZ GROUP      ROD EO        -38195223.8    238732565
RODRIGUEZ GROUP      ROD S1        -38195223.8    238732565
RODRIGUEZ GROUP      ROD EU        -38195223.8    238732565
RODRIGUEZ GROUP      RGX GR        -38195223.8    238732565
RODRIGUEZ GROUP      RDGP IX       -38195223.8    238732565
SANDOZ SAS           3635111Z FP  -18996502.07  160259044.1
SDR CENTREST         117241Q FP   -132420129.5  252176017.2
SEAFRANCE            1707464Z FP  -1015379.945  247033398.8
SHEET ANCHOR FRA     4745417Z FP   -16938893.1  192023042.9
SIDEL CONVEYING      4715393Z FP  -57759126.57    147204049
SIEMENS VAI META     4634441Z FP  -78630983.34  175225384.5
SOC NICOISE REAL     4749097Z FP  -6176043.591  112289722.4
SOCIETE COMMERCI     4516647Z FP  -179862008.2   1576030746
SOCIETE D'AGENCE     4741441Z FP  -3996843.897  267209404.9
SOCIETE DE CHAUF     4722937Z FP  -11549371.73  107340406.8
STE DU 67 BD DU      4686753Z FP  -550297.9006  103136595.7
STORA ENSO CORBE     4697593Z FP  -932413.9939  163080772.7
SU3 SAS              4686497Z FP  -11118401.88    105002034
TEAM PARTNER-RTS     633323Q FP   -13557467.93    129831049
TEAM PARTNER-RTS     2841653Q FP  -13557467.93    129831049
TEAM PARTNERS        TIP FP       -13557467.93    129831049
TEAM PARTNERS        TIP PZ       -13557467.93    129831049
TEAM PARTNERS        TPTRF US     -13557467.93    129831049
TEAM PARTNERS        2347985Q EO  -13557467.93    129831049
TEAM PARTNERS        TPGY IX      -13557467.93    129831049
TEAM PARTNERS        2347981Q EU  -13557467.93    129831049
TEAM PARTNERS GR     TIPDS FP     -13557467.93    129831049
TEAM PARTNERS GR     TPGP PZ      -13557467.93    129831049
TEAM PARTNERS GR     TIPA FP      -13557467.93    129831049
TEAM PARTNERS GR     TIPA EO      -13557467.93    129831049
TEAM PARTNERS GR     TIPA EU      -13557467.93    129831049
TEAM PARTNERS GR     TIPNV FP     -13557467.93    129831049
TEAM PARTNERS GR     TPGP IX      -13557467.93    129831049
TEAM PARTNERS-N      TIPN FP      -13557467.93    129831049
TF1 VIDEO SASU       4516855Z FP  -1279245.403  166278795.5
THALES SECURITY      4701729Z FP  -426153529.7  822653430.4
THOMSON TELECOM      4516815Z FP  -35805908.77  528384056.4
THYSSENKRUPP SOF     4740929Z FP  -18052289.45  299682634.2
TRANSOLVER SERVI     4521279Z FP  -38102696.91    161124216
TREVES               4722153Z FP  -70096913.54  394781399.9
TROUVAY CAUVIN       ETEC FP      -396977.8818  133986439.7
TROUVAY CAUVIN       TVYCF US     -396977.8818  133986439.7
TUILERIES FINANC     4701769Z FP  -3956839.937  125936634.2
UCALEASE SA          3635807Z FP  -1041989.142  150621028.5
VALEO VISION SAS     4518479Z FP    -102634627  273699726.4
VISTEON SYSTEMES     4699177Z FP  -149790335.3  304741135.7
YVES ST LAURENT/     4633025Z FP  -82897369.68  390343397.3

GEORGIA
-------
DEVELICA DEUTSCH     D4B GR       -79827494.88   1139643575
DEVELICA DEUTSCH     DDE LN       -79827494.88   1139643575
DEVELICA DEUTSCH     DDE PZ       -79827494.88   1139643575
DEVELICA DEUTSCH     DDE PG       -79827494.88   1139643575
DEVELICA DEUTSCH     DDE IX       -79827494.88   1139643575
PEARL HOLDING        3622Z LN     -133833007.2  968234065.8

GERMANY
-------
AGOR AG              DOO S1       -482449.8788  144432986.2
AGOR AG              NDAGF US     -482449.8788  144432986.2
AGOR AG              DOO EU       -482449.8788  144432986.2
AGOR AG              DOOD PZ      -482449.8788  144432986.2
AGOR AG              DOO GR       -482449.8788  144432986.2
AGOR AG              DOOG IX      -482449.8788  144432986.2
AGOR AG              DOO EO       -482449.8788  144432986.2
AGOR AG-RTS          2301918Z GR  -482449.8788  144432986.2
ALNO AG              ANO S1       -73119134.74  198564619.3
ALNO AG              ANO EU       -73119134.74  198564619.3
ALNO AG              ANO GR       -73119134.74  198564619.3
ALNO AG              ANO TH       -73119134.74  198564619.3
ALNO AG              ANO EO       -73119134.74  198564619.3
ALNO AG              ANO PZ       -73119134.74  198564619.3
ALNO AG              ALNO IX      -73119134.74  198564619.3
ALNO AG - RTS        ANO2 GR      -73119134.74  198564619.3
ALNO AG-NEW          ANO1 GR      -73119134.74  198564619.3
ALNO AG-RTS          8174351Z GR  -73119134.74  198564619.3
ALNO AG-RTS          2259765Z GR  -73119134.74  198564619.3
ALNO AG-RTS          4123912Z GR  -73119134.74  198564619.3
ATRONIC INTERNAT     504688Z GR   -30668737.79  163495101.6
BROKAT AG            BRKAF US     -27139603.03  143536830.1
BROKAT AG            BKISF US     -27139603.03  143536830.1
BROKAT AG            BROAF US     -27139603.03  143536830.1
BROKAT AG            BROFQ US     -27139603.03  143536830.1
BROKAT AG -NEW       BRJ1 GR      -27139603.03  143536830.1
BROKAT AG -NEW       BRJ1 NM      -27139603.03  143536830.1
BROKAT AG-ADR        BROA US      -27139603.03  143536830.1
BROKAT TECH -ADR     BROAQ US     -27139603.03  143536830.1
BROKAT TECH AG       BRJ GR       -27139603.03  143536830.1
BROKAT TECH AG       BSA LN       -27139603.03  143536830.1
BROKAT TECH AG       BRJ NM       -27139603.03  143536830.1
BROKAT TECH-ADR      BRJA GR      -27139603.03  143536830.1
CBB HOLDING AG       COB GR       -42994818.04  904723627.8
CBB HOLDING AG       COBG IX      -42994818.04  904723627.8
CBB HOLDING AG       COBG PZ      -42994818.04  904723627.8
CBB HOLDING AG       COB2 EU      -42994818.04  904723627.8
CBB HOLDING AG       COB2 EO      -42994818.04  904723627.8
CBB HOLDING AG       CUBDF US     -42994818.04  904723627.8
CBB HOLDING-NEW      COB3 GR      -42994818.04  904723627.8
CBB HOLDING-NEW      COB1 GR      -42994818.04  904723627.8
CBB HOLD-NEW 97      COB2 GR      -42994818.04  904723627.8
COGNIS GMBH          575202Z GR   -745013993.7   3306935972
COGNIS HOLDING G     635952Z GR    -1587896974   2850475613
COMPASS GROUP DE     3896530Z GR  -45713969.85  408640427.9
DFS DEUTSCHE FLU     1070Z GR     -362698323.5   1370382283
DORT ACTIEN-BRAU     944167Q GR   -12689156.29  117537053.7
DORT ACTIEN-RTS      DAB8 GR      -12689156.29  117537053.7
EDOB ABWICKLUNGS     ESC TQ       -22323468.51  425598807.8
EDOB ABWICKLUNGS     ESC EU       -22323468.51  425598807.8
EDOB ABWICKLUNGS     ESC PZ       -22323468.51  425598807.8
EDOB ABWICKLUNGS     ESC GR       -22323468.51  425598807.8
EDOB ABWICKLUNGS     ESC TH       -22323468.51  425598807.8
EDOB ABWICKLUNGS     ESC BQ       -22323468.51  425598807.8
EDOB ABWICKLUNGS     ESC EO       -22323468.51  425598807.8
EDOB ABWICKLUNGS     ESCDF US     -22323468.51  425598807.8
EM.TV & MERCHAND     985403Q GR   -22067243.56  849175624.7
EM.TV & MERCHAND     ETV VX       -22067243.56  849175624.7
EM.TV & MERCHAND     EMTVF US     -22067243.56  849175624.7
EM.TV & MERCHAND     ETV NM       -22067243.56  849175624.7
EM.TV & MERCHAND     ETVMF US     -22067243.56  849175624.7
EM.TV & MERCHAND     ETV LN       -22067243.56  849175624.7
EM.TV & MERC-NEW     ETV1 GR      -22067243.56  849175624.7
EM.TV & MERC-NEW     ETV1 NM      -22067243.56  849175624.7
EM.TV & MERC-RTS     ETV8 NM      -22067243.56  849175624.7
EM.TV & MERC-RTS     ETV8 GR      -22067243.56  849175624.7
ESCADA AG            ESCG IX      -22323468.51  425598807.8
ESCADA AG -PFD       ESC3 GR      -22323468.51  425598807.8
ESCADA AG-NEW        ESCN EU      -22323468.51  425598807.8
ESCADA AG-NEW        ESCC GR      -22323468.51  425598807.8
ESCADA AG-NEW        3069367Q GR  -22323468.51  425598807.8
ESCADA AG-NEW        835345Q GR   -22323468.51  425598807.8
ESCADA AG-NEW        ESCD GR      -22323468.51  425598807.8
ESCADA AG-NEW        ESCN GR      -22323468.51  425598807.8
ESCADA AG-NEW        ESCN EO      -22323468.51  425598807.8
ESCADA AG-RTS        ESCE GR      -22323468.51  425598807.8
ESCADA AG-SP ADR     ESCDY US     -22323468.51  425598807.8
GENERAL ELECTRIC     4501923Z GR  -547318343.8   8720530002
GUENTHER & SOHN      GUS GR       -9612095.264    130075209
GUENTHER & SOHN      GUS EO       -9612095.264    130075209
GUENTHER & SOHN      GUS PZ       -9612095.264    130075209
GUENTHER & SOHN      GUS EU       -9612095.264    130075209
KABEL DEUTSCHLAN     KD8 BQ        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 QM        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 TH        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 IX        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 PZ        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8USD EU     -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 EU        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8GBP EO     -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 NR        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 GR        -2357298804   2892306039
KABEL DEUTSCHLAN     KBDHF US      -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 S1        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 EO        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8USD EO     -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 EB        -2357298804   2892306039
KABEL DEUTSCHLAN     KD8 TQ        -2357298804   2892306039
KABEL DEUTS-CW10     DB7KWG GR     -2357298804   2892306039
KAUFRING AG          KFR EO       -19296489.56  150995473.8
KAUFRING AG          KFR PZ       -19296489.56  150995473.8
KAUFRING AG          KFR EU       -19296489.56  150995473.8
KAUFRING AG          KFR GR       -19296489.56  150995473.8
KAUFRING AG          KAUG IX      -19296489.56  150995473.8
MAERKLIN             730904Z GR   -8321071.921  115821977.5
MANIA TECHNOLOGI     MNIG IX      -35060809.35  107465713.6
MANIA TECHNOLOGI     MNI GR       -35060809.35  107465713.6
MANIA TECHNOLOGI     MIAVF US     -35060809.35  107465713.6
MANIA TECHNOLOGI     MNI PZ       -35060809.35  107465713.6
MANIA TECHNOLOGI     MNI NM       -35060809.35  107465713.6
MANIA TECHNOLOGI     2260970Z GR  -35060809.35  107465713.6
MANIA TECHNOLOGI     MNI TH       -35060809.35  107465713.6
MANIA TECHNOLOGI     MNI1 EO      -35060809.35  107465713.6
MANIA TECHNOLOGI     MNI1 EU      -35060809.35  107465713.6
MANIA TECHNOLOGI     MNI S1       -35060809.35  107465713.6
MATERNUS KLINI-N     MAK1 GR       -14418459.3  182876466.8
MATERNUS-KLINIKE     MNUKF US      -14418459.3  182876466.8
MATERNUS-KLINIKE     MAK EU        -14418459.3  182876466.8
MATERNUS-KLINIKE     MAK S1        -14418459.3  182876466.8
MATERNUS-KLINIKE     MAK EO        -14418459.3  182876466.8
MATERNUS-KLINIKE     MAK PZ        -14418459.3  182876466.8
MATERNUS-KLINIKE     MAK TH        -14418459.3  182876466.8
MATERNUS-KLINIKE     MAK GR        -14418459.3  182876466.8
MATERNUS-KLINIKE     MAKG IX       -14418459.3  182876466.8
NORDAG AG            DOO1 GR      -482449.8788  144432986.2
NORDAG AG-PFD        DOO3 GR      -482449.8788  144432986.2
NORDAG AG-RTS        DOO8 GR      -482449.8788  144432986.2
NORDENIA INTL AG     NOD8 GR      -74471727.44  729626481.3
NORDENIA INTL AG     NOD GR       -74471727.44  729626481.3
NORDSEE AG           533061Q GR   -8200551.142  194616922.6
PRIMACOM AG          PRC2 GR      -18656751.16  610380925.7
PRIMACOM AG          PRC TH       -18656751.16  610380925.7
PRIMACOM AG          PRC S1       -18656751.16  610380925.7
PRIMACOM AG          PRCG PZ      -18656751.16  610380925.7
PRIMACOM AG          PRC EU       -18656751.16  610380925.7
PRIMACOM AG          PRCG IX      -18656751.16  610380925.7
PRIMACOM AG          PRC EO       -18656751.16  610380925.7
PRIMACOM AG          PRC GR       -18656751.16  610380925.7
PRIMACOM AG          PCAGF US     -18656751.16  610380925.7
PRIMACOM AG-ADR      PCAG US      -18656751.16  610380925.7
PRIMACOM AG-ADR      PCAGY US     -18656751.16  610380925.7
PRIMACOM AG-ADR+     PCAG ES      -18656751.16  610380925.7
RAG ABWICKL-REG      RSTHF US       -1744124.2  217776125.8
RAG ABWICKL-REG      ROS S1         -1744124.2  217776125.8
RAG ABWICKL-REG      ROS1 EO        -1744124.2  217776125.8
RAG ABWICKL-REG      ROSG PZ        -1744124.2  217776125.8
RAG ABWICKL-REG      ROS1 EU        -1744124.2  217776125.8
RAG ABWICKL-REG      ROS GR         -1744124.2  217776125.8
RINOL AG             RILB IX         -1.171602  168095049.1
RINOL AG             RILB EU         -1.171602  168095049.1
RINOL AG             RNLAF US        -1.171602  168095049.1
RINOL AG             RIL GR          -1.171602  168095049.1
RINOL AG             RILB GR         -1.171602  168095049.1
RINOL AG             RILB EO         -1.171602  168095049.1
RINOL AG             RILB S1         -1.171602  168095049.1
RINOL AG             RILB PZ         -1.171602  168095049.1
ROSENTHAL AG         2644179Q GR    -1744124.2  217776125.8
ROSENTHAL AG-ACC     ROS4 GR        -1744124.2  217776125.8
ROSENTHAL AG-ADR     RSTHY US       -1744124.2  217776125.8
ROSENTHAL AG-REG     ROSG IX        -1744124.2  217776125.8
SANDER (JIL) AG      SAD GR       -6153256.267  127546738.8
SANDER (JIL) AG      JLSDF US     -6153256.267  127546738.8
SANDER (JIL)-PRF     2916157Q EU  -6153256.267  127546738.8
SANDER (JIL)-PRF     SAD3 PZ      -6153256.267  127546738.8
SANDER (JIL)-PRF     SAD3 GR      -6153256.267  127546738.8
SANDER (JIL)-PRF     2916161Q EO  -6153256.267  127546738.8
SINNLEFFERS AG       WHG GR       -4491635.615  453887060.1
SPAR HANDELS-AG      SPHFF US     -442426239.7   1433020961
SPAR HANDELS-AG      773844Q GR   -442426239.7   1433020961
SPAR HAND-PFD NV     SPA3 GR      -442426239.7   1433020961
TA TRIUMPH-ACQ       TWNA GR      -124531131.9  313411495.3
TA TRIUMPH-ACQ       TWNA EU      -124531131.9  313411495.3
TA TRIUMPH-ADLER     TWN EO       -124531131.9  313411495.3
TA TRIUMPH-ADLER     TWN PZ       -124531131.9  313411495.3
TA TRIUMPH-ADLER     TTZAF US     -124531131.9  313411495.3
TA TRIUMPH-ADLER     TWNG IX      -124531131.9  313411495.3
TA TRIUMPH-ADLER     TWN EU       -124531131.9  313411495.3
TA TRIUMPH-ADLER     TWN GR       -124531131.9  313411495.3
TA TRIUMPH-A-RTS     1018916Z GR  -124531131.9  313411495.3
TA TRIUMPH-NEW       TWN1 GR      -124531131.9  313411495.3
TA TRIUMPH-RT        TWN8 GR      -124531131.9  313411495.3
TA TRIUMPH-RTS       3158577Q GR  -124531131.9  313411495.3
UNITYMEDIA GMBH      560459Z GR     -290585562   5747686306
UNITYMEDIA HESSE     2808647Z GR    -290585562   5747686306

GREECE
------
AG PETZETAKIS SA     PTZ GR       -110812812.5  206429374.1
AG PETZETAKIS SA     PETZK EU     -110812812.5  206429374.1
AG PETZETAKIS SA     PETZK GA     -110812812.5  206429374.1
AG PETZETAKIS SA     PTZ1 GR      -110812812.5  206429374.1
AG PETZETAKIS SA     PETZK PZ     -110812812.5  206429374.1
AG PETZETAKIS SA     PZETF US     -110812812.5  206429374.1
AG PETZETAKIS SA     PETZK EO     -110812812.5  206429374.1
ASPIS PRONIA GE      ASASK PZ     -189908329.1  896537349.7
ASPIS PRONIA GE      ASASK EO     -189908329.1  896537349.7
ASPIS PRONIA GE      ASASK EU     -189908329.1  896537349.7
ASPIS PRONIA GE      ASASK GA     -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      APGV GR      -189908329.1  896537349.7
ASPIS PRONIA-PF      ASASP GA     -189908329.1  896537349.7
ASPIS PRONIA-RT      ASASKR GA    -189908329.1  896537349.7
ASPIS PRONOIA GE     APGG IX      -189908329.1  896537349.7
ASPIS PRONOIA GE     APG GR       -189908329.1  896537349.7
ASPIS PRON-PF RT     ASASPR GA    -189908329.1  896537349.7
ATLANTIC SUPERMA     ATLA GA      -76261648.16  315891294.2
ATLANTIC SUPERMA     ATLA PZ      -76261648.16  315891294.2
ATLANTIC SUPERMA     ATLA1 EU     -76261648.16  315891294.2
ATLANTIC SUPERMA     ATLA1 EO     -76261648.16  315891294.2
EMPEDOS SA           EMPED GA     -33637669.62  174742646.9
EMPEDOS SA-RTS       EMPEDR GA    -33637669.62  174742646.9
HELLAS ONLINE SA     HOLR GA      -15570102.08  531120397.7
HELLAS ONLINE SA     BRAIN PZ     -15570102.08  531120397.7
HELLAS ONLINE SA     BRAIN EO     -15570102.08  531120397.7
HELLAS ONLINE SA     UN5 GR       -15570102.08  531120397.7
HELLAS ONLINE SA     BRAIN EU     -15570102.08  531120397.7
HELLAS ONLINE SA     BRAIN GA     -15570102.08  531120397.7
HELLAS ONLINE SA     HOL GA       -15570102.08  531120397.7
KATSELIS SON-P R     KATPD GA     -25687516.15  172013976.2
KATSELIS SONS-PF     KATSP GA     -25687516.15  172013976.2
KATSELIS SONS-RT     KATKD GA     -25687516.15  172013976.2
MAILLIS              MLISF US     -46071971.98  484719898.6
MAILLIS -RTS         MAIKR GA     -46071971.98  484719898.6
MAILLIS-SPON ADR     MJMSY US     -46071971.98  484719898.6
MJ MAILLIS S.A.      MAIK EU      -46071971.98  484719898.6
MJ MAILLIS S.A.      MAIK GA      -46071971.98  484719898.6
MJ MAILLIS S.A.      MAIK PZ      -46071971.98  484719898.6
MJ MAILLIS S.A.      MJL GR       -46071971.98  484719898.6
MJ MAILLIS S.A.      MAIK EO      -46071971.98  484719898.6
NAOUSSA SPIN -RT     NAOYD GA     -163114842.1  286539436.9
NAOUSSA SPIN-AUC     NAOYKE GA    -163114842.1  286539436.9
NAOUSSA SPINNING     NML GR       -163114842.1  286539436.9
NAOUSSA SPIN-RTS     NAOYKR GA    -163114842.1  286539436.9
NUTRIART S.A.        KTSEF US     -25687516.15  172013976.2
NUTRIART S.A.        KATSK GA     -25687516.15  172013976.2
NUTRIART SA          KATSK PZ     -25687516.15  172013976.2
NUTRIART SA          NUTRIART GA  -25687516.15  172013976.2
NUTRIART SA          KATSK EO     -25687516.15  172013976.2
NUTRIART SA          KATSK EU     -25687516.15  172013976.2
NUTRIART-RTS         3411089Q GA  -25687516.15  172013976.2
PETZET - PFD-RTS     PETZPD GA    -110812812.5  206429374.1
PETZETAKIS - RTS     PETZKD GA    -110812812.5  206429374.1
PETZETAKIS-AUC       PETZKE GA    -110812812.5  206429374.1
PETZETAKIS-PFD       PTZ3 GR      -110812812.5  206429374.1
PETZETAKIS-PFD       PETZP GA     -110812812.5  206429374.1
RADIO KORASSIDIS     RKC GR       -100972173.9  244951680.3
RADIO KORASSIDIS     RAKOF US     -100972173.9  244951680.3
RADIO KORASSIDIS     KORA GA      -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     -55751173.78  232036822.6
THEMELIODOMI-AUC     THEMEE GA    -55751173.78  232036822.6
THEMELIODOMI-RTS     THEMER GA    -55751173.78  232036822.6
THEMELIODOMI-RTS     THEMED GA    -55751173.78  232036822.6
UNITED TEXTILES      NAOYK GA     -163114842.1  286539436.9
UNITED TEXTILES      NAOSF US     -163114842.1  286539436.9
UNITED TEXTILES      UTEX GA      -163114842.1  286539436.9
UNITED TEXTILES      UTEX EU      -163114842.1  286539436.9
UNITED TEXTILES      UTEX PZ      -163114842.1  286539436.9
UNITED TEXTILES      UTEX EO      -163114842.1  286539436.9
UNITED TEXTILES      NML1 GR      -163114842.1  286539436.9

HUNGARY
-------
HUNGARIAN TELEPH     HUC EX          -73723992    827192000
HUNGARIAN TELEPH     HUGC IX         -73723992    827192000
INVITEL HOLD-ADR     INVHY US        -73723992    827192000
INVITEL HOLD-ADR     IHO US          -73723992    827192000
INVITEL HOLD-ADR     0IN GR          -73723992    827192000
INVITEL HOLDINGS     3212873Z HB     -73723992    827192000

ICELAND
-------
AVION GROUP          B1Q GR         -223780368   2277882368
EIMSKIPAFELAG HF     HFEIMEUR EU    -223780368   2277882368
EIMSKIPAFELAG HF     HFEIM PZ       -223780368   2277882368
EIMSKIPAFELAG HF     HFEIM IR       -223780368   2277882368
EIMSKIPAFELAG HF     HFEIM EU       -223780368   2277882368
EIMSKIPAFELAG HF     HFEIM EO       -223780368   2277882368
EIMSKIPAFELAG HF     HFEIMEUR EO    -223780368   2277882368
EIMSKIPAFELAG HF     AVION IR       -223780368   2277882368

IRELAND
-------
ACS AIRCRAFT FIN     4491555Z ID  -23037147.35  130480079.7
AEGON GLOBAL INS     646937Z ID     -154161392   4095368960
AIRPLANES FINANC     4460505Z ID    -475086961  263082549.3
AIRPLANES HOLDIN     4461857Z ID  -16556589608  931628665.2
ALECTRA FINANCE      4505075Z ID  -59841094.81   1863021876
ARCADE PROPERTY      4461121Z ID  -271759845.9  854806905.5
ARDAGH GLASS FIN     3489820Z ID  -425719878.1   5124811840
ARNOTTS HOLDINGS     4462545Z ID  -345703659.3  169928201.7
AVAYA HOLDINGS L     4491803Z ID  -208021348.3  112505345.4
BALLYMORE PROPER     162707Z ID   -243143095.2  972399152.8
BIRCHFORD INVEST     3802508Z ID   -17025540.7  218278444.2
BOSPHORUS CAPITA     3807620Z ID  -547691.4495  119473277.7
CAMBER 4 PLC         3807980Z ID  -548127044.3  336912874.6
CAPEL DEVELOPMEN     3813016Z ID  -54774206.54  118764190.8
CARRICKMINES MAN     3799108Z ID  -1594145.025  116839693.5
CELTIC ROADS GRO     4527583Z ID  -5475772.455  178943648.9
COMMUNICORP GROU     1027859Z ID  -28828642.17  309423497.3
CONOCOPHILLIPS I     4526671Z ID  -215725943.4  369716179.9
CONOCOPHILLIPS W     3894318Z ID  -199958224.4  344111929.9
DEPFA IRELAND HO     4458641Z ID  -7759253.483  392619649.6
DUOMO FUNDING PL     4462513Z ID  -805845.5444   1772244292
ELAN PHARMA INTE     4515071Z ID  -217568725.6   1820901782
ELLERSTON GEMS O     4781417Z ID  -4056787.085  195869209.7
EQUANT NETWORK S     4462057Z ID    -146075974  304925852.2
EURCO FINANCE        3799980Z ID   -48643223.1  679126971.7
FOL INTERNATIONA     4513251Z ID  -43457938.48  343547754.8
FORTIS PROPRIETA     4781289Z ID   -1335113419   6891744243
FRESHWATER FINAN     699575Z ID   -251700725.1   1588010523
FRUIT OF THE LOO     4459361Z ID  -96376389.16    391436785
GENERAL FINANCE      3807584Z ID  -3451729.765    140460867
GS MULTI-CURRENC     4780921Z ID  -218031502.7   1766463253
HELSINGOR LTD        3814256Z ID  -964944.8669  123961503.3
IRISH NATIONWIDE     1020Z ID     -24460514.19  16215850688
JAMES HARDIE IND     726824Z NA     -454500000   1960600064
JAMES HARDIE IND     HAH AU         -454500000   1960600064
JAMES HARDIE IND     600241Q GR     -454500000   1960600064
JAMES HARDIE IND     HAH NZ         -454500000   1960600064
JAMES HARDIE NV      JHXCC AU       -454500000   1960600064
JAMES HARDIE-ADR     JHINY US       -454500000   1960600064
JAMES HARDIE-ADR     JHX US         -454500000   1960600064
JAMES HARDIE-CDI     JHX AU         -454500000   1960600064
JAMES HARDIE-CDI     JHA TH         -454500000   1960600064
JAMES HARDIE-CDI     JHA GR         -454500000   1960600064
JAMES HARDIE-CDI     JHIUF US       -454500000   1960600064
LCH EUROPEAN POR     3809212Z ID  -91665071.77  296022574.1
LEASEPLAN FINANC     1179Z NA     -14450149.08   8220952390
LTR FINANCE NO 8     3816616Z ID  -15113152.02    537522513
MAINAU FUNDING L     4460161Z ID  -216846138.8   1309830017
MCINERNEY HLDGS      MCIGBX EU    -137972148.5  304108432.2
MCINERNEY HLDGS      MCI EO       -137972148.5  304108432.2
MCINERNEY HLDGS      MCI PO       -137972148.5  304108432.2
MCINERNEY HLDGS      MNEYF US     -137972148.5  304108432.2
MCINERNEY HLDGS      MCI ID       -137972148.5  304108432.2
MCINERNEY HLDGS      MCI LN       -137972148.5  304108432.2
MCINERNEY HLDGS      MCIGBP EO    -137972148.5  304108432.2
MCINERNEY HLDGS      MCI VX       -137972148.5  304108432.2
MCINERNEY HLDGS      MK9 PO       -137972148.5  304108432.2
MCINERNEY HLDGS      MCI EU       -137972148.5  304108432.2
MCINERNEY HLDGS      MK9C PZ      -137972148.5  304108432.2
MCINERNEY HLDGS      MCII IX      -137972148.5  304108432.2
MCINERNEY HLDGS      MCIGBX EO    -137972148.5  304108432.2
MCINERNEY HLDGS      MCI IX       -137972148.5  304108432.2
MCINERNEY HLDGS      MK9 GR       -137972148.5  304108432.2
MCINERNEY PROP-A     MYP ID       -137972148.5  304108432.2
MCINERNEY PROP-A     MYP LN       -137972148.5  304108432.2
MCINERNEY PROP-A     MCIYF US     -137972148.5  304108432.2
MCINERNEY -RT FP     MCIF LN      -137972148.5  304108432.2
MCINERNEY -RT FP     MCIF ID      -137972148.5  304108432.2
MCINERNEY -RT NP     MCIN LN      -137972148.5  304108432.2
MCINERNEY -RT NP     MCIN ID      -137972148.5  304108432.2
MCINERNEY-ADR        MNEYY US     -137972148.5  304108432.2
MYRMIDON CMBS PR     3819292Z ID  -76324372.07  313019507.2
NOVELL IRELAND S     3632507Z ID  -26753771.46  278570269.2
PAYZONE PLC          PAYZ EO      -138030903.2  510010035.3
PAYZONE PLC          PAYZ IX      -138030903.2  510010035.3
PAYZONE PLC          PAYZ PG      -138030903.2  510010035.3
PAYZONE PLC          PAYZ EU      -138030903.2  510010035.3
PAYZONE PLC          4P6 GR       -138030903.2  510010035.3
PAYZONE PLC          PAYZ PZ      -138030903.2  510010035.3
PAYZONE PLC          PAYZ LN      -138030903.2  510010035.3
PENNYGOLD TRADIN     4459561Z ID  -77668624.17   1296718702
PROVIDENCE RESOU     PRR IX       -31729163.16  134629066.1
PROVIDENCE RESOU     PVDRF US     -31729163.16  134629066.1
PROVIDENCE RESOU     PRP PG       -31729163.16  134629066.1
PROVIDENCE RESOU     PRP ID       -31729163.16  134629066.1
PROVIDENCE RESOU     PRP PZ       -31729163.16  134629066.1
PROVIDENCE RESOU     PRP EO       -31729163.16  134629066.1
PROVIDENCE RESOU     3660853Q IX  -31729163.16  134629066.1
PROVIDENCE RESOU     PZQ PO       -31729163.16  134629066.1
PROVIDENCE RESOU     PVR LN       -31729163.16  134629066.1
PROVIDENCE RESOU     PRP EU       -31729163.16  134629066.1
PROVIDENCE RESOU     PRPGBP EO    -31729163.16  134629066.1
PROVIDENCE RE-UT     PZQ GR       -31729163.16  134629066.1
PROVIDENCE-F/P       PRPF ID      -31729163.16  134629066.1
PROVIDENCE-N/P       PRPN ID      -31729163.16  134629066.1
QUINN GROUP LTD      166771Z ID   -228838127.1   2504412121
RELIANCE FLAG TE     4511819Z ID  -132410401.4  259945642.6
RHATIGAN COMMERC     3800004Z ID    -150605071  218524413.7
SALOME FUNDING P     747246Z ID   -1780227.756   2390329099
SCHWARZ PHARMA L     626603Z ID   -527103751.5  385715998.9
SHENDA IRELAND L     4781889Z ID  -164635178.9  186343517.3
SPENCER DOCK DEV     3813908Z ID     -87906519    773958702
SUSQUEHANNA EURO     4459081Z ID   -1252022268   5765502698
TAKEDA PHARMA IR     4460049Z ID  -553964898.1  178556098.5
TOPAZ ENERGY GRO     4508643Z ID  -20430096.67  574668196.2
UDARAS EITLIOCHT     4461649Z ID  -38554945.52  228382904.9
UPC BROADBAND IR     3633179Z ID    -295261091  748962719.5
WATERFORD - RTS      508523Q LN   -505729895.2    820803256
WATERFORD - RTS      WWWA ID      -505729895.2    820803256
WATERFORD - RTS      WWWA GR      -505729895.2    820803256
WATERFORD - RTS      WWWB GR      -505729895.2    820803256
WATERFORD - RTS      WWWB ID      -505729895.2    820803256
WATERFORD - RTS      508519Q LN   -505729895.2    820803256
WATERFORD CRYSTA     4459209Z ID  -150440252.3  114111756.9
WATERFORD W-ADR      WATWY US     -505729895.2    820803256
WATERFORD WDGEWD     WATFF US     -505729895.2    820803256
WATERFORD WDGEWD     WATWF US     -505729895.2    820803256
WATERFORD WED-RT     WWWD GR      -505729895.2    820803256
WATERFORD WED-RT     586552Q LN   -505729895.2    820803256
WATERFORD WED-RT     WTFR LN      -505729895.2    820803256
WATERFORD WED-RT     WWWD ID      -505729895.2    820803256
WATERFORD WED-RT     WWWC ID      -505729895.2    820803256
WATERFORD WED-RT     WWWC GR      -505729895.2    820803256
WATERFORD WED-RT     586556Q LN   -505729895.2    820803256
WATERFORD WED-UT     WWW PO       -505729895.2    820803256
WATERFORD WED-UT     WTFU LN      -505729895.2    820803256
WATERFORD WED-UT     WTFU PO      -505729895.2    820803256
WATERFORD WED-UT     WTFU EU      -505729895.2    820803256
WATERFORD WED-UT     WTFU EO      -505729895.2    820803256
WATERFORD WED-UT     WWWD PZ      -505729895.2    820803256
WATERFORD WED-UT     WWW GR       -505729895.2    820803256
WATERFORD WED-UT     WTFU VX      -505729895.2    820803256
WATERFORD WED-UT     WTFUGBX EU   -505729895.2    820803256
WATERFORD WED-UT     WTFUGBX EO   -505729895.2    820803256
WATERFORD WED-UT     WTFU IX      -505729895.2    820803256
WATERFORD WED-UT     WTFU ID      -505729895.2    820803256
WATERFORD WE-RTS     WTFF ID      -505729895.2    820803256
WATERFORD WE-RTS     WTFF LN      -505729895.2    820803256
WATERFORD WE-RTS     WTFN LN      -505729895.2    820803256
WATERFORD WE-RTS     WTFN VX      -505729895.2    820803256
WATERFORD WE-RTS     WTFN ID      -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
WOLSELEY IRELAND     3898706Z ID  -47443431.51  175225926.3

ITALY
-----
ALCOA TRASFORMAZ     4506523Z IM  -200396353.5  504699192.2
AS ROMA SPA          ASR IX       -37429933.27  183644985.3
AS ROMA SPA          ASR PZ       -37429933.27  183644985.3
AS ROMA SPA          ASR EO       -37429933.27  183644985.3
AS ROMA SPA          ASR TQ       -37429933.27  183644985.3
AS ROMA SPA          ASRAF US     -37429933.27  183644985.3
AS ROMA SPA          ASRO IX      -37429933.27  183644985.3
AS ROMA SPA          ASR EB       -37429933.27  183644985.3
AS ROMA SPA          ASR IM       -37429933.27  183644985.3
AS ROMA SPA          ASR QM       -37429933.27  183644985.3
AS ROMA SPA          ASR EU       -37429933.27  183644985.3
AS ROMA SPA          ASR BQ       -37429933.27  183644985.3
AS ROMA SPA          RO9 GR       -37429933.27  183644985.3
AS ROMA SPA-RTS      ASRAA IM     -37429933.27  183644985.3
AUTOMOTIVE LIGHT     3895734Z IM  -8797909.782  165588007.5
BIANCHI VENDING      764212Z IM   -27419598.89  118828596.1
CABLELETTRA SPA      4507547Z IM  -83494555.41  223468834.1
CANTIERI DI PISA     4313125Z IM  -2611908.154  105466953.7
CANTIERI NAVALI      4427873Z IM  -26985562.28  101874594.4
CIRIO FINANZIARI     CRO IM       -422095936.7   1583083044
CIRIO FINANZIARI     FIY GR       -422095936.7   1583083044
COIN SPA             GUCIF US     -154057598.5  800526929.5
COIN SPA             965089Q GR   -154057598.5  800526929.5
COIN SPA             GC IX        -154057598.5  800526929.5
COIN SPA/OLD         GC IM        -154057598.5  800526929.5
COIN SPA-RTS         GCAA IM      -154057598.5  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
CONBIPEL SPA         2241259Z IM  -8880034.854  222164742.3
CREDITO FONDIARI     CRF IM       -200209050.3   4213063202
CREDITO FOND-RTS     CRFSA IM     -200209050.3   4213063202
DEGI FRANCIACORT     4360437Z IM   -471251.996  253375581.9
DIMA COSTRUZIONI     4526911Z IM   -14681477.1  426157772.4
DIMAFIN SPA          2727163Z IM  -63237953.95  270856564.4
ELETTRA PRODUZIO     3995020Z IM  -2325645.288    227506350
EQUIPOLYMERS SRL     4224221Z IM  -77501046.37  227622587.6
EUROFLY SPA          EEZ IX        -30409445.9  416708236.2
EUROFLY SPA -RTS     EEZAXA IM     -30409445.9  416708236.2
EUROFLY SPA-RTS      EURAXA IM     -30409445.9  416708236.2
FC INTERNAZIONAL     1185Z IM     -10874536.45  713790943.1
FINMATICA SPA        FIT GR       -126380828.5  281244456.3
FINMATICA SPA        FIN IM       -126380828.5  281244456.3
FINMATICA SPA        FIN NM       -126380828.5  281244456.3
FINMATICA SPA        FMTAF US     -126380828.5  281244456.3
FORUM GRAN SASSO     4032509Z IM  -5954613.651  163924566.4
FUNIVIE FOLGARID     4325137Z IM  -3839728.226  199413338.6
GRUPPO FINI SPA      4514671Z IM  -1791897.636  101060963.7
GUERRINO PIVATO      4292565Z IM  -41218066.44  397216267.9
I VIAGGI DEL VEN     VVE IM       -209436890.3  202705179.9
I VIAGGI DEL VEN     VVE PZ       -209436890.3  202705179.9
I VIAGGI DEL VEN     IVGIF US     -209436890.3  202705179.9
I VIAGGI DEL VEN     VVE IX       -209436890.3  202705179.9
I VIAGGI DEL VEN     VVE TQ       -209436890.3  202705179.9
I VIAGGI DEL VEN     VVE EU       -209436890.3  202705179.9
I VIAGGI DEL VEN     VVE EO       -209436890.3  202705179.9
I VIAGGI DEL VEN     IV7 GR       -209436890.3  202705179.9
I VIAGGI-RTS         VVEAA IM     -209436890.3  202705179.9
INDUSTRIE FINCUO     4270053Z IM  -15676157.12  111118283.9
INTERSIDER ACCIA     4268893Z IM  -5355062.509  156885353.6
INTRALOT ITALIA      2884343Z IM  -2665603.223  118040362.9
IP MAESTRALE 4 S     4407001Z IM  -1364553.628  613867867.9
KERSELF              KERS IX      -42106279.58  830980118.2
KERSELF SPA          3533882Z IM  -42106279.58  830980118.2
KERSELF SPA          KRSI PZ      -42106279.58  830980118.2
KERSELF SPA          KRS EO       -42106279.58  830980118.2
KERSELF SPA          KRS EU       -42106279.58  830980118.2
KERSELF SPA          KRS TQ       -42106279.58  830980118.2
KERSELF SPA          KRS IM       -42106279.58  830980118.2
KERSELF-RT           KRSAA IM     -42106279.58  830980118.2
KERSELF-RTS          KERSAA IM    -42106279.58  830980118.2
KERSELF-RTS          KRSRI IX     -42106279.58  830980118.2
MAC METALLURGICA     4290637Z IM  -13970053.88  192912284.9
MERIDIANA FLY        EEZ PZ        -30409445.9  416708236.2
MERIDIANA FLY        MEF EB        -30409445.9  416708236.2
MERIDIANA FLY        MEF IX        -30409445.9  416708236.2
MERIDIANA FLY        EEZ IM        -30409445.9  416708236.2
MERIDIANA FLY        MEF IM        -30409445.9  416708236.2
MERIDIANA FLY        EEZ EO        -30409445.9  416708236.2
MERIDIANA FLY        EEZ EU        -30409445.9  416708236.2
MERIDIANA FLY        EEZ TQ        -30409445.9  416708236.2
MERIDIANA FLY        EEZ QM        -30409445.9  416708236.2
MERIDIANA FLY        MEF BQ        -30409445.9  416708236.2
MERIDIANA FLY        EFLYF US      -30409445.9  416708236.2
MERIDIANA FLY        E7N GR        -30409445.9  416708236.2
MERIDIANA FLY SP     MEFAXA IM     -30409445.9  416708236.2
MERIDIANA SPA        1163Z IM     -4645217.834  187285866.9
MONTE MARE GRADO     4359985Z IM  -535776.0315  100534744.7
MV AGUSTA MOTOR      3898906Z IM  -10856011.42  258767112.5
NEXANS ITALIA SP     3636695Z IM  -19973174.81  139448244.4
OCV ITALIA SRL       4455649Z IM  -7833657.759  212272084.3
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 SERVICE CE     3401139Z IM  -9159816.788  165737571.5
PARMALAT FINANZI     PMLFF US     -18419396969   4120687886
PARMALAT FINANZI     PAF GR       -18419396969   4120687886
PARMALAT FINANZI     PARAF US     -18419396969   4120687886
PARMALAT FINANZI     FICN AV      -18419396969   4120687886
PARMALAT FINANZI     PRFI VX      -18419396969   4120687886
PARMALAT FINANZI     PMT LI       -18419396969   4120687886
PARMALAT FINANZI     PRF IM       -18419396969   4120687886
PARMALAT FINA-RT     PRFR AV      -18419396969   4120687886
PLASTIC COMPONEN     4489891Z IM  -4874668.899  477291693.5
REGGIANE CRANES      4428649Z IM  -56111781.34  352789095.4
SANTA CROCE 2010     3994268Z IM  -4287041.203  120271258.3
SD SICILIA DISCO     4346005Z IM  -57205.25336  162107130.8
SNIA BPD             SN GR        -141933895.2  150445252.4
SNIA BPD-ADR         SBPDY US     -141933895.2  150445252.4
SNIA SPA             SNIA GR      -141933895.2  150445252.4
SNIA SPA             SN IM        -141933895.2  150445252.4
SNIA SPA             SNIXF US     -141933895.2  150445252.4
SNIA SPA             SN EU        -141933895.2  150445252.4
SNIA SPA             SIAI IX      -141933895.2  150445252.4
SNIA SPA             SNIB GR      -141933895.2  150445252.4
SNIA SPA             SN TQ        -141933895.2  150445252.4
SNIA SPA             SIAI PZ      -141933895.2  150445252.4
SNIA SPA             SN EO        -141933895.2  150445252.4
SNIA SPA             SSMLF US     -141933895.2  150445252.4
SNIA SPA             SBPDF US     -141933895.2  150445252.4
SNIA SPA - RTS       SNAAW IM     -141933895.2  150445252.4
SNIA SPA- RTS        SNAXW IM     -141933895.2  150445252.4
SNIA SPA-2003 SH     SN03 IM      -141933895.2  150445252.4
SNIA SPA-CONV SA     SPBDF US     -141933895.2  150445252.4
SNIA SPA-DRC         SNR00 IM     -141933895.2  150445252.4
SNIA SPA-NEW         SN00 IM      -141933895.2  150445252.4
SNIA SPA-NON CON     SPBNF US     -141933895.2  150445252.4
SNIA SPA-RCV         SNIVF US     -141933895.2  150445252.4
SNIA SPA-RCV         SNR IM       -141933895.2  150445252.4
SNIA SPA-RIGHTS      SNAW IM      -141933895.2  150445252.4
SNIA SPA-RNC         SNIWF US     -141933895.2  150445252.4
SNIA SPA-RNC         SNRNC IM     -141933895.2  150445252.4
SNIA SPA-RTS         SNAA IM      -141933895.2  150445252.4
SNIA SPA-RTS         SNSO IM      -141933895.2  150445252.4
SVILUPPO COMPART     3895994Z IM  -3410478.946  384012735.9
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 ITALIA     TDI NM       -89894162.82  152045757.5
TECNODIFF-RTS        TDIAOW NM    -89894162.82  152045757.5
TECNODIFFUSIONE      TDIAAW IM    -89894162.82  152045757.5
TEREX ITALIA SRL     4514535Z IM  -65352037.06  187112594.8
TISCALI - RTS        TISAAW IM    -158576909.6  500626222.7
TISCALI - RTS        TIQA GR      -158576909.6  500626222.7
TISCALI SPA          TISGBX EO    -158576909.6  500626222.7
TISCALI SPA          TISGBP EO    -158576909.6  500626222.7
TISCALI SPA          TIS EO       -158576909.6  500626222.7
TISCALI SPA          TISN NA      -158576909.6  500626222.7
TISCALI SPA          TIQ1 GR      -158576909.6  500626222.7
TISCALI SPA          TIS EB       -158576909.6  500626222.7
TISCALI SPA          TISM IX      -158576909.6  500626222.7
TISCALI SPA          TISN IX      -158576909.6  500626222.7
TISCALI SPA          TIS IM       -158576909.6  500626222.7
TISCALI SPA          TSCXF US     -158576909.6  500626222.7
TISCALI SPA          TISN VX      -158576909.6  500626222.7
TISCALI SPA          TISN IM      -158576909.6  500626222.7
TISCALI SPA          TIQG IX      -158576909.6  500626222.7
TISCALI SPA          TIS IX       -158576909.6  500626222.7
TISCALI SPA          TIS NA       -158576909.6  500626222.7
TISCALI SPA          TIS QM       -158576909.6  500626222.7
TISCALI SPA          TIS BQ       -158576909.6  500626222.7
TISCALI SPA          TISN FP      -158576909.6  500626222.7
TISCALI SPA          TIS NQ       -158576909.6  500626222.7
TISCALI SPA          TIS VX       -158576909.6  500626222.7
TISCALI SPA          TIS TQ       -158576909.6  500626222.7
TISCALI SPA          TIS PZ       -158576909.6  500626222.7
TISCALI SPA          TIQ GR       -158576909.6  500626222.7
TISCALI SPA          TIS NR       -158576909.6  500626222.7
TISCALI SPA          TISGBX EU    -158576909.6  500626222.7
TISCALI SPA          TIS FP       -158576909.6  500626222.7
TISCALI SPA          TIS EU       -158576909.6  500626222.7
TISCALI SPA- RTS     3391621Q GR  -158576909.6  500626222.7
TISCALI SPA- RTS     TISAXA IM    -158576909.6  500626222.7
UPIM SRL             3494031Z IM  -24945031.42  495566337.9
VALEO SPA            3897442Z IM  -55996.80114  165209720.2
VIA CAVOUR SRL       3997892Z IM  -2002622.441  173628397.1

LUXEMBOURG
----------
ARCELORMITTAL FL     3912244Z LX   -1024313669   3328008487
CARRIER1 INT-AD+     CONE ES         -94729000    472360992
CARRIER1 INT-ADR     CONEQ US        -94729000    472360992
CARRIER1 INT-ADR     CONEE US        -94729000    472360992
CARRIER1 INT-ADR     CONE US         -94729000    472360992
CARRIER1 INTL        CJNA GR         -94729000    472360992
CARRIER1 INTL        8133893Q GR     -94729000    472360992
CARRIER1 INTL        CJN NM          -94729000    472360992
CARRIER1 INTL SA     CONEF US        -94729000    472360992
CARRIER1 INTL SA     1253Z SW        -94729000    472360992
INTELSAT             ILMA GR        -697038976  17592367104
INTELSAT SA          2237Z US       -697038976  17592367104
OXEA SARL            3682535Z LX  -78371220.13   1013737294
OXEA SARL            3682535Z GR  -78371220.13   1013737294

NETHERLANDS
-----------
ADAMAR AMSTERDAM     4049157Z NA  -5256671.097  108813893.8
ALFRED C TOEPFER     4062117Z NA  -1843317.436   1689194175
ASITO DIENSTENGR     743813Z NA   -2494804.851  220704023.7
BAAN CO NV-ASSEN     BAANA NA     -7854715.264  609871188.9
BAAN COMPANY NV      BAAN EU      -7854715.264  609871188.9
BAAN COMPANY NV      BNCG IX      -7854715.264  609871188.9
BAAN COMPANY NV      BAAVF US     -7854715.264  609871188.9
BAAN COMPANY NV      BAAN IX      -7854715.264  609871188.9
BAAN COMPANY NV      BAAN NA      -7854715.264  609871188.9
BAAN COMPANY NV      BAAN PZ      -7854715.264  609871188.9
BAAN COMPANY NV      BAAN GR      -7854715.264  609871188.9
BAAN COMPANY NV      BAAN EO      -7854715.264  609871188.9
BAAN COMPANY-NY      BAANF US     -7854715.264  609871188.9
BASELL BENELUX B     4048469Z NA  -49594551.15    221005725
BELEGGINGSMAATSC     801105Z NA   -5070657.703  350267370.9
CENTRIC HOLDING      745383Z NA   -72753.24225  363069870.7
CEVA GROUP PLC       976811Z NA   -538665968.2   5318491121
CEVA LOGISTICS       882197Z NA   -538665968.2   5318491121
CLATES HOLDING B     4043429Z NA  -34881.25205  221495950.5
COENTUNNEL CO BV     3823892Z NA  -42087507.72  316350701.9
COOPERATIE VOEDI     4378105Z NA  -216576.9882  680962157.8
EON BENELUX LEVE     4173461Z NA  -21561715.64  273422076.5
EUROCOMMERCE HOL     4174085Z NA  -1476.315022   1442058655
EUROPEAN MARITIM     4523543Z NA  -34803118.05  347300069.4
FERDINAND STINGE     4040837Z NA  -197826.2129   1420319834
FONDEL METALS BV     4039013Z NA  -2368075.248  110363800.6
HE INVESTMENTS B     3813216Z NA  -1780665.857    195483088
HUISVUILCENTRALE     4777713Z NA  -87789.23965   1412526184
INFOR GLOBAL SOL     4778481Z NA  -332427172.9  500602423.6
ING RE DORTMUND/     3819456Z NA  -91900157.49  142290450.1
ING REIM DEVELOP     3811140Z NA  -231041485.9  383323356.5
KONINKLIJKE HASK     4037221Z NA  -69259.20141  230145390.9
KUIPER GROEP BV      3821988Z NA  -3688.420875  101931401.5
LIBERTY GL EU-A      UPC NA        -5505478850   5112616630
LINO MANAGEMENT      3774416Z NA    -302140891  797339200.3
MAAS INTERNATION     4174109Z NA  -104625.6021  163961580.9
MITSUBISHI MOTOR     3893974Z NA  -377506741.2  526604236.4
MSREF ELBA BV        4043045Z NA  -89889.60183  584994172.5
MSREF VI KAIROS      4174205Z NA  -38313.60078    893956511
NIDERA HANDELSCO     3893886Z NA  -1347999.991   2303695933
NORFOLK HOLDINGS     779151Z NA   -199512.5928  813430683.8
RHEIN PAPIER HOL     4040349Z NA  -2301763.247   1089890804
RIVA NV              3797916Z NA  -852952.1165  111411542.1
SGS NEDERLAND HO     3896746Z NA  -742586.4558    148207265
SITA NEDERLAND B     874216Z NA   -312079.8969   2324948031
SPYKER CARS NV       SPYKR EB     -154336469.5   1337361332
SPYKER CARS NV       SPYKR NA     -154336469.5   1337361332
SPYKER CARS NV       SPYKR BQ     -154336469.5   1337361332
SPYKER CARS NV       SPYK IX      -154336469.5   1337361332
SPYKER CARS NV       SPYKR QM     -154336469.5   1337361332
SPYKER CARS NV       SPYKR EO     -154336469.5   1337361332
SPYKER CARS NV       SPYKR EU     -154336469.5   1337361332
SPYKER CARS NV       SPYKR TQ     -154336469.5   1337361332
STICHTING PENSIO     4498027Z NA  -19254451.13  566611058.3
STICHTING PENSIO     4489595Z NA   -7065546415  43409019837
SWEDISH AUTOMOBI     SWAN EU      -154336469.5   1337361332
SWEDISH AUTOMOBI     SWAN BQ      -154336469.5   1337361332
SWEDISH AUTOMOBI     SWAN TQ      -154336469.5   1337361332
SWEDISH AUTOMOBI     SWAN EO      -154336469.5   1337361332
SWEDISH AUTOMOBI     SWAN EB      -154336469.5   1337361332
SWEDISH AUTOMOBI     SPYKR PZ     -154336469.5   1337361332
SWEDISH AUTOMOBI     SWAN NA      -154336469.5   1337361332
SWEDISH AUTOMOBI     SWAN QM      -154336469.5   1337361332
SWEDISH AUTOMOBI     SPYKF US     -154336469.5   1337361332
SWEDISH AUTOMOBI     L9I TH       -154336469.5   1337361332
SWEDISH AUTOMOBI     L9I GR       -154336469.5   1337361332
TATE & LYLE NETH     3634775Z NA  -2595894.422  104534416.9
TOYOTA MATERIAL      4062173Z NA  -525179.3964  103144175.2
TRAVELPORT GLOBA     4501611Z NA  -3622780.496  320789835.8
UNITED PAN -ADR      UPEA GR       -5505478850   5112616630
UNITED PAN-A ADR     UPCOY US      -5505478850   5112616630
UNITED PAN-EUR-A     UPC LI        -5505478850   5112616630
UNITED PAN-EUR-A     UPC LN        -5505478850   5112616630
UNITED PAN-EUROP     UPCOF US      -5505478850   5112616630
UNITED PAN-EUROP     UPCEF US      -5505478850   5112616630
UNITED PAN-EUROP     UPC VX        -5505478850   5112616630
UNITED PAN-EUROP     UPE1 GR       -5505478850   5112616630
UPC HOLDING BV       3590264Z NA  -12164702941  13901661309
VAN WEELDE BEHEE     4038885Z NA  -165002.3062  161800258.3
VOLKERWESSELS BO     4062101Z NA  -17683.20036  191596002.3
VWS TRANSPORTINF     4377249Z NA  -88578.90129  442019063.5
VWS VERKEER-EN I     4777577Z NA  -125486.7768  799874848.4
W2005 W2007 CARN     3824100Z NA  -107841645.8    362615031
WE INTERNATIONAL     630199Z NA   -1220350.163   1011026941
WILMAR EDIBLE OI     3817520Z NA  -3976944.095  218912594.8
ZINVEST FASHION      3775412Z NA  -296559.4047    180677208
ZWINGER OPCO 6 B     3821644Z NA  -106543158.2  627759193.8

NORWAY
------
AFRICA OFFSHORE      AOSA NO        -238595008    399271008
AKER BIOMARINE A     4508947Z NO  -91258656.74  103294723.7
AKER ELEKTRO AS      4389353Z NO   -35218317.7  134077911.8
AKER FLOATING PR     AKFP EO          -7700000    816200000
AKER FLOATING PR     AKFP BY          -7700000    816200000
AKER FLOATING PR     AKNO IX          -7700000    816200000
AKER FLOATING PR     AKFP NO          -7700000    816200000
AKER FLOATING PR     AKFP EU          -7700000    816200000
AKER FLOATING PR     AKFPEUR EU       -7700000    816200000
AKER FLOATING PR     AKFPEUR EO       -7700000    816200000
AKER FLOATING PR     AKFP PZ          -7700000    816200000
AKER STORD A/S       4498875Z NO  -150475117.7  783619889.1
BKK VARME AS         4445833Z NO  -8164053.946  143462133.6
CIA LA GOMERA AS     4401057Z NO  -14188999.46  111542577.2
GJENSIDIGE PENSJ     4447089Z NO  -706038.7351  834496819.2
HEEGH AUTOLINERS     4389209Z NO  -11654362.38  277390994.9
INTEROIL EXPLORA     IOX BY          -71383000    195320000
INTEROIL EXPLORA     IOX NO          -71383000    195320000
INTEROIL EXPLORA     IROIF US        -71383000    195320000
INTEROIL EXPLORA     IOX EU          -71383000    195320000
INTEROIL EXPLORA     IOX PZ          -71383000    195320000
INTEROIL EXPLORA     IOXEUR EU       -71383000    195320000
INTEROIL EXPLORA     IOXUSD EO       -71383000    195320000
INTEROIL EXPLORA     IOX IX          -71383000    195320000
INTEROIL EXPLORA     IOXEUR EO       -71383000    195320000
INTEROIL EXPLORA     INOX NO         -71383000    195320000
INTEROIL EXPLORA     IOX EO          -71383000    195320000
INTEROIL EXPLORA     IOXUSD EU       -71383000    195320000
LIVA BIL             LIV NO       -4061326.597  116023629.9
MAN LAST OG BUSS     4521719Z NO  -7914946.127  134925818.8
MARINE SUBSEA AS     MSAS NO        -238595008    399271008
MASTER & COMMAND     4443393Z NO   -3848.57586    105559612
NCC CONSTRUCTION     4389745Z NO  -17444019.96  371204059.2
NCC ROADS AS         4401305Z NO  -7603911.224  151509155.9
NORGIPS NORGE AS     4443889Z NO  -4188300.148    124517344
NORSK STEIN AS       4394889Z NO  -2509971.202  184248999.1
OSLO FORSIKRING      4415089Z NO   -6494996.57    158542606
PETRO GEO-SERV       PGS VX       -18066142.21  399710323.6
PETRO GEO-SERV       265143Q NO   -18066142.21  399710323.6
PETRO GEO-SERV       PGS GR       -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 EO      -54932000    191586000
PETROJACK AS         JACK BY         -54932000    191586000
PETROJACK AS         JACK EU         -54932000    191586000
PETROJACK AS         P3J GR          -54932000    191586000
PETROJACK AS         JACK EO         -54932000    191586000
PETROJACK AS         JACO IX         -54932000    191586000
PETROJACK AS         JACK PZ         -54932000    191586000
PETROJACK AS         JACK NO         -54932000    191586000
PETROJACK AS         JACKEUR EU      -54932000    191586000
PETROJACK AS         POJKF US        -54932000    191586000
PETROMENA AS         PMEN IX         -47299000    317747008
PETROMENA AS         PMENA NO        -47299000    317747008
PETROMENA AS         PMENA EU        -47299000    317747008
PETROMENA AS         PR2 GR          -47299000    317747008
PETROMENA AS         MENA NO         -47299000    317747008
PETROMENA AS         PMENA PZ        -47299000    317747008
PETROMENA AS         PMENA EO        -47299000    317747008
PETROMENA AS         PMENAEUR EO     -47299000    317747008
PETROMENA AS         PMENF US        -47299000    317747008
PETROMENA AS         PMENAEUR EU     -47299000    317747008
SECURITAS DIRECT     4394201Z NO  -531628.2745  124746344.1
SKRETTING AS         4473771Z NO  -3730844.426  499611269.4
STOREBRAND EIEND     4443409Z NO  -69476764.19   1408585975
STOREBRAND EIEND     4288341Z NO  -236066034.1   4427606061
TDC AS               4287413Z NO  -95917885.43  128911202.9
TRICO SHIPPING A     3651167Z NO  -132576808.1  504945402.2
TTS SENSE AS         4393841Z NO  -30849484.35  107503145.6
UTKILEN SHIPPING     4446161Z NO  -2435448.778  205148159.9
VNG NORGE AS         4513147Z NO  -44725176.15  280935536.1

POLAND
------
KROSNO               KROS IX       -2241615.44  111838141.2
KROSNO               KRS PW        -2241615.44  111838141.2
KROSNO               KRS1EUR EU    -2241615.44  111838141.2
KROSNO               KRS1EUR EO    -2241615.44  111838141.2
KROSNO               KRS LI        -2241615.44  111838141.2
KROSNO SA            KRS PZ        -2241615.44  111838141.2
KROSNO SA            KROSNO PW     -2241615.44  111838141.2
KROSNO SA            KRS1 EU       -2241615.44  111838141.2
KROSNO SA            KRNFF US      -2241615.44  111838141.2
KROSNO SA            KRS1 EO       -2241615.44  111838141.2
KROSNO SA-RTS        KRSP PW       -2241615.44  111838141.2
KROSNO-PDA-ALLT      KRSA PW       -2241615.44  111838141.2
TOORA                2916661Q EO  -288818.3897  147004954.2
TOORA                2916665Q EU  -288818.3897  147004954.2
TOORA                TOR PZ       -288818.3897  147004954.2
TOORA                TOR PW       -288818.3897  147004954.2
TOORA-ALLOT CERT     TORA PW      -288818.3897  147004954.2

PORTUGAL
--------
AGUAS DO ZEZERE      3646223Z PL  -9497007.861  387261027.5
ALBERTO MARTINS      4488947Z PL  -26137998.21  126979395.5
CENTRO HOSPITALA     3778196Z PL   -63194407.2  123417394.8
CO DAS ENERGIAS      3794880Z PL  -2540034.474  115717930.4
CP - COMBOIOS DE     1005Z PL      -3201667702   2260472073
ESTALEIROS NAVAI     4507307Z PL  -23829401.88  315386385.8
FERREIRAS & MAGA     4281437Z PL  -14115717.84  103226790.2
GALERIA PARQUE N     4772673Z PL   -6221557.01  176869350.5
HOSPITAL DE FARO     3789880Z PL  -59945072.08  249069905.8
HOSPITAL DO DIVI     3789932Z PL   -38574192.3  217870602.5
HOSPITAL GARCIA      3773160Z PL   -48058398.4  155137981.5
LOCACAO DE EQUIP     4772329Z PL  -1031872.211  425561447.8
LYCATELCOM LDA       4281821Z PL  -8577510.562  109410577.8
METRO DO PORTO       4473963Z PL   -1539365046   3027538897
PARQUE DA PAMPIL     4770625Z PL  -1932626.439  135631078.1
PARQUE EOLICO DE     4772521Z PL  -1450277.362  131706562.9
PORTUGALIA           1008Z PL     -4086512.545  263103585.3
RADIO E TELEVISA     1227Z PL     -874020727.2  739530129.4
REFER-REDE FERRO     1250Z PL      -1817222591  941624235.3
SERVICO DE SAUDE     3790200Z PL  -171447869.9  656234458.2
SOCIEDADE DE REN     3776676Z PL  -16609193.89  127876798.7
SOCIEDADE DE TRA     1253Z PL     -366661049.9  152577542.7
SPORTING CLUBE D     SCDF EU      -65884328.13  251276323.4
SPORTING CLUBE D     SCG GR       -65884328.13  251276323.4
SPORTING CLUBE D     SCP PL       -65884328.13  251276323.4
SPORTING CLUBE D     SCP1 PZ      -65884328.13  251276323.4
SPORTING CLUBE D     SCPX PX      -65884328.13  251276323.4
SPORTING CLUBE D     SCDF EO      -65884328.13  251276323.4
SPORTING-SOC DES     SCDF PL      -65884328.13  251276323.4
SPORTING-SOC DES     SCPL IX      -65884328.13  251276323.4
SPORTING-SOC-RTS     SCPVS PL     -65884328.13  251276323.4
SPORTING-SOC-RTS     SCPDS PL     -65884328.13  251276323.4
TAP SGPS             TAP PL       -293253615.6   2901200999
VALE DO LOBO - R     4764257Z PL  -19458755.77  553819869.1
VISTA ALEGRE ATL     4281717Z PL  -11415079.06  119980938.8

ROMANIA
-------
ARCELORMITTAL        PTRO RO      -61080024.91  178667412.9
OLTCHIM RM VALCE     OLTCF US     -89344240.83  511515508.8
OLTCHIM SA RM VA     OLT RO       -89344240.83  511515508.8
OLTCHIM SA RM VA     OLT PZ       -89344240.83  511515508.8
OLTCHIM SA RM VA     OLTEUR EO    -89344240.83  511515508.8
OLTCHIM SA RM VA     OLT EU       -89344240.83  511515508.8
OLTCHIM SA RM VA     OLTEUR EU    -89344240.83  511515508.8
OLTCHIM SA RM VA     OLT EO       -89344240.83  511515508.8
RAFO SA              RAF RO       -457922310.7  356796459.3

RUSSIA
------
AKCIONERNOE-BRD      SOVP$ RU     -72210975.94  456200360.2
ALLIANCE RUSSIAN     ALRT RU       -13189410.9  138268688.3
AMO ZIL              ZILL RM      -204894835.3    401284636
AMO ZIL-CLS          ZILL RU      -204894835.3    401284636
AMO ZIL-CLS          ZILL* RU     -204894835.3    401284636
AMO ZIL-CLS          ZILLG RU     -204894835.3    401284636
CRYOGENMASH-BRD      KRGM* RU     -22826263.97  214573431.2
CRYOGENMASH-BRD      KRGM RU      -22826263.97  214573431.2
CRYOGENMASH-PFD      KRGMP* RU    -22826263.97  214573431.2
CRYOGENMASH-PFD      KRGMP RU     -22826263.97  214573431.2
DAGESTAN ENERGY      DASBG RU      -29561959.6  232757864.4
DAGESTAN ENERGY      DASB RM       -29561959.6  232757864.4
DAGESTAN ENERGY      DASB RU       -29561959.6  232757864.4
DAGESTAN ENERGY      DASB* RU      -29561959.6  232757864.4
EAST-SIBERIA-BRD     VSNK* RU     -92283895.48  299864149.8
EAST-SIBERIA-BRD     VSNK RU      -92283895.48  299864149.8
EAST-SIBERIAN-BD     VSNK$ RU     -92283895.48  299864149.8
FINANCIAL LEASIN     137282Z RU   -127155421.5  341759794.6
FINANCIAL LEASIN     FLKO RU      -127155421.5  341759794.6
FINANCIAL LEASIN     FLKO* RU     -127155421.5  341759794.6
FINANCIAL LEASIN     FLKO RM      -127155421.5  341759794.6
GAZ-FINANS           GAZF RU      -56134.51262  232319905.4
GUKOVUGOL            GUUG RU      -57835249.92  143665227.2
GUKOVUGOL            GUUG* RU     -57835249.92  143665227.2
GUKOVUGOL-PFD        GUUGP RU     -57835249.92  143665227.2
GUKOVUGOL-PFD        GUUGP* RU    -57835249.92  143665227.2
HALS-DEVEL- GDR      86PN LI        -588515968   1446112000
HALS-DEVELOPMENT     HALS TQ        -588515968   1446112000
HALS-DEVELOPMENT     SYR GR         -588515968   1446112000
HALS-DEVELOPMENT     HALS* RU       -588515968   1446112000
HALS-DEVELOPMENT     HALS LI        -588515968   1446112000
HALS-DEVELOPMENT     HALS RU        -588515968   1446112000
HALS-DEVELOPMENT     HALS RM        -588515968   1446112000
HALS-DEVELOPMENT     HALSM RU       -588515968   1446112000
HALS-DEVELOPMENT     HALSG RU       -588515968   1446112000
IZHAVTO OAO          IZAV RU      -94100833.99  443610329.4
KAMSKAYA GORNAYA     2806239Z RU  -527803788.8   1311868884
KOMPANIYA GL-BRD     GMST RU      -2412499.797   1202818434
KOMPANIYA GL-BRD     GMST* RU     -2412499.797   1202818434
KUZNETSOV-BRD        MTSTP RU     -11247039.53  390269032.2
KUZNETSOV-BRD        MTSTP* RU    -11247039.53  390269032.2
KUZNETSOV-BRD        MTST* RU     -11247039.53  390269032.2
KUZNETSOV-BRD        MTST RU      -11247039.53  390269032.2
M-INDUSTRIYA         SOMI RU      -1304109.982  267288804.8
MURMANSKAYA-PFD      MUGSP RU     -26491726.33  140103923.5
MURMANSKAYA-PFD      MUGSPG RU    -26491726.33  140103923.5
MURMANSKAYA-PFD      MUGSP* RU    -26491726.33  140103923.5
MURMANSKAY-CLS       MUGS* RU     -26491726.33  140103923.5
MURMANSKAY-CLS       MUGSG RU     -26491726.33  140103923.5
MURMANSKAY-CLS       MUGS RU      -26491726.33  140103923.5
NIZHEGORODSK-BRD     NASO RU      -24264468.23  426748912.4
NIZHEGORODSK-BRD     NASO* RU     -24264468.23  426748912.4
NIZHEGORODSKI-B      NASO$ RU     -24264468.23  426748912.4
NIZHEGORODS-P B$     NASOP$ RU    -24264468.23  426748912.4
NIZHEGORODS-PFD      NASOP RU     -24264468.23  426748912.4
NIZHEGORODS-PFD      NASOP* RU    -24264468.23  426748912.4
NIZHMASHZAVO-BRD     NMSZ* RU     -11553901.84  372915429.4
NIZHMASHZAVO-BRD     NMSZ RU      -11553901.84  372915429.4
NIZHMASHZAVOD-BD     NMSZ$ RU     -11553901.84  372915429.4
NIZHMASHZAVO-PFD     NMSZP* RU    -11553901.84  372915429.4
NIZHMASHZAVO-PFD     NMSZP RU     -11553901.84  372915429.4
OAO SIBNEFTEGAZ      SIGA RU      -8733178.141  757597617.2
PENOPLEX-FINANS      PNPF RU      -839659.3715  147052027.7
PIK GROUP            PIKK RU      -65334860.95   4000687446
PIK GROUP            PIKK* RU     -65334860.95   4000687446
PIK GROUP            PIKKG RU     -65334860.95   4000687446
PIK GROUP            PIKK RM      -65334860.95   4000687446
PIK GROUP-GDR        PIQ2 GR      -65334860.95   4000687446
PIK GROUP-GDR        PIK EU       -65334860.95   4000687446
PIK GROUP-GDR        PIK1 QM      -65334860.95   4000687446
PIK GROUP-GDR        PIK1 EO      -65334860.95   4000687446
PIK GROUP-GDR        PIK LI       -65334860.95   4000687446
PIK GROUP-GDR        PIK EB       -65334860.95   4000687446
PIK GROUP-GDR        PIK TQ       -65334860.95   4000687446
PIK GROUP-GDR        PKGPL US     -65334860.95   4000687446
PIK GROUP-GDR        PIK IX       -65334860.95   4000687446
PROMTRACTOR-FINA     PTRF RU      -27519567.06  259128529.5
RUSSIAN TEXT-CLS     ALRTG RU      -13189410.9  138268688.3
RUSSIAN TEXT-CLS     ALRT* RU      -13189410.9  138268688.3
RYBINSKKABEL         RBKZD RU     -8532245.618  108539181.3
SEVERNAYA KAZNA      SVKB RU      -53030865.11  292154903.1
SEVERNAYA KAZNA      SVKB* RU     -53030865.11  292154903.1
SEVKABEL-FINANS      SVKF RU      -83036.46173  102680373.6
SISTEMA HALS-GDR     HALS IX        -588515968   1446112000
SISTEMA-GDR 144A     SEMAL US       -588515968   1446112000
URGALUGOL-BRD        YRGL* RU     -10942680.75  149416034.2
URGALUGOL-BRD        YRGL RU      -10942680.75  149416034.2
URGALUGOL-BRD-PF     YRGLP RU     -10942680.75  149416034.2
VACO-BRD             VASO RU      -27108676.04  934073954.9
VACO-BRD             VASO* RU     -27108676.04  934073954.9
VACO-PFD             VASOP RU     -27108676.04  934073954.9
VACO-PFD             VASOP* RU    -27108676.04  934073954.9
VASO                 1001Q RU     -27108676.04  934073954.9
VASO-$               1002Q RU     -27108676.04  934073954.9
VASO-$PFD BRD        VASOP$ RU    -27108676.04  934073954.9
VASO-Q LIST          VASO$ RU     -27108676.04  934073954.9
VIMPEL SHIP-BRD      SOVP RU      -72210975.94  456200360.2
VIMPEL SHIP-BRD      SOVP* RU     -72210975.94  456200360.2
VOLGOGRAD KHIM       VHIM* RU     -46674128.45  156690406.4
VOLGOGRAD KHIM       VHIM RU      -46674128.45  156690406.4
WILD ORCHID ZAO      DOAAN RU     -11716087.47  106082784.6
ZIL AUTO PLANT       ZILL$ RU     -204894835.3    401284636
ZIL AUTO PLANT-P     ZILLP RU     -204894835.3    401284636
ZIL AUTO PLANT-P     ZILLP RM     -204894835.3    401284636
ZIL AUTO PLANT-P     ZILLP* RU    -204894835.3    401284636

SERBIA
------
DUVANSKA             DIVR SG      -46938765.41  107525048.4

SLOVENIA
--------
ISTRABENZ            ITBG PZ      -3710053.919   1192276746
ISTRABENZ            ITBG SV      -3710053.919   1192276746
ISTRABENZ            ITBG EO      -3710053.919   1192276746
ISTRABENZ            ITBG EU      -3710053.919   1192276746

SPAIN
-----
ACTUACIONES ACTI     AGR SM        -57871829.5  772519224.5
ADT ESPANA SERVI     3632899Z SM   -26498520.4  149454497.1
AGRUPACIO - RT       AGR/D SM      -57871829.5  772519224.5
AMCI HABITAT SA      AMC3 EO      -24580874.45  194758143.4
AMCI HABITAT SA      AMC SM       -24580874.45  194758143.4
AMCI HABITAT SA      AMC1 EU      -24580874.45  194758143.4
ATLANTIC COPPER      4512291Z SM  -15995873.26   1016941910
AURIGACROWN CAR      3791672Z SM  -9696329.512  319009666.2
BASF CONSTRUCTIO     4511259Z SM  -175550365.3  296395765.4
BIMBO SA             3632779Z SM  -6894386.116  162399487.1
BOSCH SISTEMAS D     4505475Z SM  -295419977.8  205556877.2
BOUYGUES INMOBIL     3636247Z SM  -13608696.28  203210905.9
CAIXARENTING SA      4500211Z SM  -7390432.998   1722091946
CAJA DE AHORROS      929362Z SM   -361326816.2  37311046644
CELAYA EMPARANZA     3642467Z SM  -19428468.87  176340504.9
COPERFIL GROUP       704457Z SM   -3700858.975    403826723
DTZ IBERICA ASES     1658Z SM     -130770583.4    611187363
ELECTRODOMESTICO     1035184Z SM  -89882980.98  104386627.5
EXPO-AN SA           569882Z SM   -14692346.37  324154549.3
FABRICAS AGRUPAD     3638319Z SM  -28683704.97    205880655
FACTORIA NAVAL D     3748456Z SM  -91596638.83  155617881.8
FBEX PROMO INMOB     3745024Z SM  -820001.0305   1142937522
FERGO AISA -RTS      AISA/D SM     -57871829.5  772519224.5
FERGO AISA SA        AISA PZ       -57871829.5  772519224.5
FERGO AISA SA        AISA EU       -57871829.5  772519224.5
FERGO AISA SA        AISA SM       -57871829.5  772519224.5
FERGO AISA SA        AISA EO       -57871829.5  772519224.5
FIAT GROUP AUTOM     4511067Z SM  -30064519.13  367730368.2
FMC FORET SA         3642299Z SM  -28605523.78  225458069.6
GALERIAS PRIMERO     3281527Z SM  -2731015.072  124875853.4
GE POWER CONTROL     3744144Z SM  -25412232.52  973735754.8
GE REAL ESTATE I     2814684Z SM  -47072259.92  609515984.5
GENERAL MOTORS E     4286805Z SM  -323089753.8   2783002632
GLENCORE ESPANA      3752336Z SM  -24493084.81    140668008
HIDROCANTABRICO      4456745Z SM  -245397523.6    513745817
HUNE PLATAFORMAS     4284309Z SM  -34729576.87  417379212.5
ISOFOTON SA          1039291Z SM    -401482382  218392769.3
JAZZ TELECOM SA      3646927Z SM  -739593798.9    803977667
LA SIRENA ALIMEN     4375737Z SM   -60779557.1  206592562.2
LEVANTINA Y ASOC     993382Z SM   -289550685.8  672488470.2
MAGNETI MARELLI      3643903Z SM  -6218714.533  169480205.1
MARTINSA FADESA      MTF1 LI       -3883366101   6592778504
MARTINSA FADESA      MFAD PZ       -3883366101   6592778504
MARTINSA FADESA      MTF EU        -3883366101   6592778504
MARTINSA FADESA      MTF SM        -3883366101   6592778504
MARTINSA FADESA      4PU GR        -3883366101   6592778504
MARTINSA FADESA      MTF EO        -3883366101   6592778504
MARTINSA-FADESA      MTF NR        -3883366101   6592778504
NYESA VALORES CO     NYE TQ       -99766729.91  812943907.9
NYESA VALORES CO     NYE EU       -99766729.91  812943907.9
NYESA VALORES CO     BES SM       -99766729.91  812943907.9
NYESA VALORES CO     BESS PZ      -99766729.91  812943907.9
NYESA VALORES CO     7NY GR       -99766729.91  812943907.9
NYESA VALORES CO     BES EU       -99766729.91  812943907.9
NYESA VALORES CO     BES TQ       -99766729.91  812943907.9
NYESA VALORES CO     NYE SM       -99766729.91  812943907.9
NYESA VALORES CO     BES EO       -99766729.91  812943907.9
NYESA VALORES CO     NYE EO       -99766729.91  812943907.9
ORANGE CATALUNYA     4365565Z SM  -25422547.72  113962331.9
PANRICO SL           1087Z SM     -372238069.5   1219319614
PLANES E INVERSI     3795524Z SM   -72863651.9  220131915.6
PULLMANTUR SA        301590Z SM   -84915226.97  196732982.8
RANDSTAD EMPLEO      4285885Z SM  -58273106.53  432173483.1
REAL ZARAGOZA SA     4285533Z SM   -26642893.2  155342765.2
RENTA CORP           REN1GBP EO   -55365883.37  289916358.5
RENTA CORP           RENS PZ      -55365883.37  289916358.5
RENTA CORP           REN1GBX EU   -55365883.37  289916358.5
RENTA CORP           REN1GBX EO   -55365883.37  289916358.5
RENTA CORP           REN1USD EO   -55365883.37  289916358.5
RENTA CORP           RTACF US     -55365883.37  289916358.5
RENTA CORP           REN1 EO      -55365883.37  289916358.5
RENTA CORP           REN1 EU      -55365883.37  289916358.5
RENTA CORP           REN1USD EU   -55365883.37  289916358.5
RENTA CORP           REN1 TQ      -55365883.37  289916358.5
RENTA CORP           REN SM       -55365883.37  289916358.5
RENTA CORP REAL      REN/D SM     -55365883.37  289916358.5
REYAL URBIS SA       REY1 EU      -699015340.8   5992489048
REYAL URBIS SA       REY SM       -699015340.8   5992489048
REYAL URBIS SA       REYU PZ      -699015340.8   5992489048
REYAL URBIS SA       REY1 EO      -699015340.8   5992489048
SA DE SUPERMERCA     4373489Z SM  -24370843.85  162576231.9
SIDERURGICA SEVI     3755616Z SM  -6175305.125  255962721.9
SOGECABLE MEDIA      3638359Z SM  -3018000.191  182987292.3
SPANAIR              1174Z SM     -172531031.3  375809287.4
SUPERMERCADOS CH     3635999Z SM  -49108101.19  430829438.2
SUPERMERCADOS CO     4285781Z SM  -6271873.083  110251382.6
TELEVISION AUTON     3772924Z SM  -148813632.8  119454851.8
TIP TRAILERS ESP     3804444Z SM  -29242607.48  104149119.2
TROPICAL TURISTI     3639071Z SM  -25374266.69    535701945
TYCO ELECTRONICS     2335265Z SM  -143512076.6  258441853.6
UNITEC UNION TIE     3801344Z SM  -23207409.48  131213302.5
VIA OPERADOR PET     4510507Z SM  -22002322.05  129961207.4
VILLAVINAS SL        3790664Z SM  -4071759.503  112727175.1

SWEDEN
------
ATTENDO AB           4452873Z SS  -58148252.61   1244996834
CARLSBERG SVERIG     4008900Z SS  -7398371.724  324772773.9
KAROLINEN FASTIG     4008644Z SS  -906745.1282  122777361.3
PHADIA AB            842347Z SS   -140406774.4   2127579095
SWEDISH MA-RE RT     SWMASR SS    -284909084.5   2094817513
SWEDISH MAT-ADR      SWMA GR      -284909084.5   2094817513
SWEDISH MAT-ADR      3053566Q US  -284909084.5   2094817513
SWEDISH MATCH        SWD LI       -284909084.5   2094817513
SWEDISH MATCH AB     SWMA PZ      -284909084.5   2094817513
SWEDISH MATCH AB     SWMAUSD EO   -284909084.5   2094817513
SWEDISH MATCH AB     SWMAEUR EO   -284909084.5   2094817513
SWEDISH MATCH AB     SWMA EO      -284909084.5   2094817513
SWEDISH MATCH AB     SWMA EU      -284909084.5   2094817513
SWEDISH MATCH AB     SWM VX       -284909084.5   2094817513
SWEDISH MATCH AB     SWMAEUR EU   -284909084.5   2094817513
SWEDISH MATCH AB     SWM TH       -284909084.5   2094817513
SWEDISH MATCH AB     SWMA NQ      -284909084.5   2094817513
SWEDISH MATCH AB     SWMA IX      -284909084.5   2094817513
SWEDISH MATCH AB     SWMAGBP EO   -284909084.5   2094817513
SWEDISH MATCH AB     SWMA BY      -284909084.5   2094817513
SWEDISH MATCH AB     SWMA NR      -284909084.5   2094817513
SWEDISH MATCH AB     SWMA QM      -284909084.5   2094817513
SWEDISH MATCH AB     SWMA S1      -284909084.5   2094817513
SWEDISH MATCH AB     SWMA EB      -284909084.5   2094817513
SWEDISH MATCH AB     SWMA LI      -284909084.5   2094817513
SWEDISH MATCH AB     SWMAGBX EO   -284909084.5   2094817513
SWEDISH MATCH AB     SWM GR       -284909084.5   2094817513
SWEDISH MATCH AB     SWMAF US     -284909084.5   2094817513
SWEDISH MATCH AB     SWMAGBX EU   -284909084.5   2094817513
SWEDISH MATCH AB     SWMA SS      -284909084.5   2094817513
SWEDISH MATCH AB     SWMAUSD EU   -284909084.5   2094817513
SWEDISH MATCH AB     SWMA TQ      -284909084.5   2094817513
SWEDISH MATCH AB     SWMDF US     -284909084.5   2094817513
SWEDISH MATCH AB     SWMA GK      -284909084.5   2094817513
SWEDISH MATCH- B     SWMWF US     -284909084.5   2094817513
SWEDISH MATCH-B      3033P US     -284909084.5   2094817513
SWEDISH MAT-RTS      SWMYR US     -284909084.5   2094817513
SWEDISH M-UN ADR     SWMAY US     -284909084.5   2094817513

TURKEY
------
BESIKTAS FUTBOL      BKTFF US     -94748145.95  140991569.3
BESIKTAS FUTBOL      BJKAS TI     -94748145.95  140991569.3
BESIKTAS FUTBOL      BJKASM TI    -94748145.95  140991569.3
BESIKTAS FUTBOL      BJKASY TI    -94748145.95  140991569.3
BESIKTAS FUTBOL      BWX GR       -94748145.95  140991569.3
EGS EGE GIYIM VE     EGDIS TI     -7732135.103  147075077.7
EGS EGE GIYIM-RT     EGDISR TI    -7732135.103  147075077.7
GALATASARAY SPOR     GATSF US     -4380459.912  184132637.7
GALATASARAY SPOR     GSRAY TI     -4380459.912  184132637.7
GALATASARAY SPOR     GSY GR       -4380459.912  184132637.7
GALATASARAY SPOR     GALA IX      -4380459.912  184132637.7
GALATASARAY-NEW      GSRAYY TI    -4380459.912  184132637.7
IKTISAT FINAN-RT     IKTFNR TI    -46900666.64  108228233.6
IKTISAT FINANSAL     IKTFN TI     -46900666.64  108228233.6
KEREVITAS GIDA       KVTGF US     -2039534.235  117975034.3
KEREVITAS GIDA       KERVT TI     -2039534.235  117975034.3
MUDURNU TAVUKC-N     MDRNUN TI     -64935052.1  160420187.4
MUDURNU TAVUKCUL     MDRNU TI      -64935052.1  160420187.4
SIFAS                SIFAS TI      -15439194.7    130608104
TUTUNBANK            TUT TI        -4024959602   2643810457
YASARBANK            YABNK TI      -4024959602   2643810457

UKRAINE
-------
AZOVZAGALMASH MA     AZGM UZ      -75129759.84  474776539.2
CHERNIGIVS MAN-M     CHIM UZ      -8728378.486  105244397.8
CHERNIGIVS M-GDR     CKU GR       -8728378.486  105244397.8
DONETSKOBLENERGO     DOON UZ      -214112885.3  396954757.6
LUGANSKGAS           LYGZ UZ      -25247035.77    123851487
LUGANSKOBLENERGO     LOEN UZ      -28366834.81  198146239.7
MARIUP-GDR REG S     M9X GR       -11661586.28  260791838.5
MARIUP-GDR REG S     MZVM IX      -11661586.28  260791838.5
MARIUPOL HEAVY M     MZVM UZ      -11661586.28  260791838.5
NAFTOKHIMIK PRIC     NAFP UZ      -15635678.75    306266218
NAFTOKHIMIK-GDR      N3ZA GR      -15635678.75    306266218
ODESSA OIL REFIN     ONPZ UZ      -178447037.2  314744675.5
RIVNEAZOT            RAZT UZ      -27233614.57    417932243
ZALK - PFTS          ZALK UZ      -78409529.93  130383564.8
POLYUS GOLD INTE     653479Z UZ      -88561000    241726000
KION GROUP GMBH      834769Z GR   -534551768.5   7697629095

UNITED KINGDOM
--------------
3I PLC               2346795Z LN  -40072013.14  518266360.4
600 UK LTD           1282018Z LN  -731250.5356  123671540.8
ABBOTT MEAD VICK     648824Q LN   -1685854.552  168258996.3
ABF GRAIN PRODUC     1276922Z LN  -80622502.15  405377719.8
ACCIDENT EXCHANG     1927374L LN  -33094543.84  273916447.7
ACE INA SERVICES     1442282Z LN  -56846654.06  155841457.8
ACIS GROUP LTD       4159557Z LN  -29529317.19  122639068.7
ACORN CARE AND E     1238567Z LN   -70886168.8  120665053.6
ACROMAS HOLDINGS     3109266Z LN   -2744136431  11102400350
ADVANCE DISPLAY      ADTP PZ       -2983757364   2562677211
AEA TECHNOLO-FPR     AATF PZ        -112607939  201762583.9
AEA TECHNOLO-FPR     AATF LN        -112607939  201762583.9
AEA TECHNOLOGY       AAT PO         -112607939  201762583.9
AEA TECHNOLOGY       EAETF US       -112607939  201762583.9
AEA TECHNOLOGY       AAT VX         -112607939  201762583.9
AEA TECHNOLOGY       AAT IX         -112607939  201762583.9
AEA TECHNOLOGY G     AAT PZ         -112607939  201762583.9
AEA TECHNOLOGY G     89A GR         -112607939  201762583.9
AEA TECHNOLOGY G     AAT EU         -112607939  201762583.9
AEA TECHNOLOGY G     AAT EO         -112607939  201762583.9
AEA TECHNOLOGY G     AAT LN         -112607939  201762583.9
AEA TECHNOLOGY G     AATGBP EO      -112607939  201762583.9
AEA TECHNOLO-NPR     AATN LN        -112607939  201762583.9
AEA TECHNOLO-NPR     AATN PZ        -112607939  201762583.9
AFFINITI INTEGRA     1651064Z LN  -743208854.7    241654750
AGA RANGEMASTER      4160101Z LN  -135154885.9    370549810
AGORA SHOPPING C     214766Z LN   -44716668.29  244995279.1
AIRTOURS PLC         ATORF US     -379721780.5   1817512774
AIRTOURS PLC         AIR LN       -379721780.5   1817512774
AIRTOURS PLC         AIR VX       -379721780.5   1817512774
ALCATEL-LUCENT T     2645055Z LN  -8743499.127  423399404.1
ALIXPARTNERS LTD     2578482Z LN  -20704239.37  115351021.9
ALLDAYS PLC          ALDYF US       -120493900  252232072.9
ALLDAYS PLC          317056Q LN     -120493900  252232072.9
ALLIANCE & LEICE     1603082Z LN  -362196734.3   3707298376
ALLIANZ MANAGEME     4160221Z LN  -25811484.64  191970654.7
ALTON TOWERS RES     4496763Z LN  -10652990.57  233239679.4
AMER BUS SYS         ARB LN         -497126976    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
ANGLESEY ALUMINI     3899138Z LN  -31293037.69  162854170.3
ANGLESEY ALUMINI     1363682Z LN  -92021199.08  162854170.3
ANKER PLC            DW14 GR      -21861359.81    115463159
ANKER PLC            ANK LN       -21861359.81    115463159
ANKER PLC            ANK PO       -21861359.81    115463159
ANKER PLC - ASSD     ANKC LN      -21861359.81    115463159
ANKER PLC - ASSD     ANKB LN      -21861359.81    115463159
ANKER PLC-ASSD       ANKA LN      -21861359.81    115463159
APPERLEY REALISA     3951420Z LN  -32792784.91  184057205.1
ARGENTA UNDERWRI     2619614Z LN   -1752171.43  135965410.7
ASHWELL PROPERTY     4165857Z LN  -192048023.3  200163088.3
ASPIRE HOUSING L     1820890Z LN  -76622621.06  145635258.6
ASTRIUM LTD          2568578Z LN  -90555016.55  456797651.8
AT KEARNEY HOLDI     4168565Z LN  -712649.2612  420870276.2
ATP OIL & GAS UK     1885966Z LN  -60472161.29  263293265.1
AUDIT COMMISSION     3954964Z LN  -117444297.5  140317611.7
AUTOMOBILE ASSOC     1479490Z LN  -33757452.81   1402428072
AVAYA UK             1700688Z LN  -28200251.54  331855473.3
AVIVA CENTRAL SE     4503755Z LN  -118366561.9  856513593.7
AVIVA EMPLOYMENT     1749312Z LN   -1672441720    168553324
BAE SYSTEMS INTE     2344987Z LN  -77756535.83  440742839.3
BAE SYSTEMS LAND     1069210Z LN  -74963208.91  373186409.6
BAE SYSTEMS LAND     1111359Z LN  -200240896.5  438322592.3
BAE SYSTEMS PROP     1151751Z LN  -87647151.12  896957185.8
BAE SYSTEMS SURF     1979118Z LN  -459281987.9  278902868.6
BANK OF SCOTLAND     1419810Z LN  -10880522.24  570678372.7
BARCHESTER HOLDC     4391889Z LN  -29571912.71   1847591976
BARRACUDA GROUP      3636Z LN     -395586366.9    328358578
BASINGHALL FINAN     1127799Z LN  -9318896.893   1118303697
BAT CHINA LTD        1281226Z LN  -242792796.6  103934859.5
BAT UK & EXPORT      4509491Z LN  -349911284.7   2485988824
BCH GROUP PLC        BCH LN       -5728273.973  187993198.2
BDP HOLDINGS LTD     3796920Z LN  -5521777.438    114452852
BENTLEY MOTORS L     1376666Z LN  -161438838.6  949891659.2
BETFAIR LTD          83844Z LN    -26079415.01  461076110.5
BGE UK LTD           1653368Z LN  -34093758.69  497857124.3
BIFFA LTD            BIFF LN      -380391564.8   3021695633
BIFFA PLC            2758798Q EO  -380391564.8   3021695633
BIFFA PLC            BIFF IX      -380391564.8   3021695633
BIFFA PLC            BIFAF US     -380391564.8   3021695633
BIFFA PLC            2758802Q EO  -380391564.8   3021695633
BIFFA PLC            2758822Q EO  -380391564.8   3021695633
BIFFA PLC            2758818Q EU  -380391564.8   3021695633
BIFFA PLC            3567279Q GR  -380391564.8   3021695633
BIFFA PLC            2758806Q EO  -380391564.8   3021695633
BIFFA PLC            BIFF PZ      -380391564.8   3021695633
BIFFA PLC            2758794Q EU  -380391564.8   3021695633
BIRMINGHAM MAILB     1781057Z LN  -6608952.843  116466648.8
BIRSE CIVILS LTD     1333506Z LN  -17529759.02  148612506.4
BLACK & EDGINGTO     BLE LN       -133034755.3  130464035.4
BLACK HORSE FINA     2603342Z LN  -769429.5864   1628936017
BLACKWELL PUBLIS     80044Z LN    -1289834.531  223671685.3
BMI                  1113Z LN     -216730247.2  520473243.2
BNB RECRUITMENT      BNB LN       -10242625.55    103637705
BNB RECRUITMENT      BNB IX       -10242625.55    103637705
BNB RECRUITMENT      BNB PO       -10242625.55    103637705
BNB RECRUITMENT      BQX GR       -10242625.55    103637705
BNB RECRUITMENT      BNBRF US     -10242625.55    103637705
BOLTON WANDERERS     1274042Z LN    -109297588  124148929.4
BOOKER PLC           BKERF US     -59832893.13   1298182549
BOOKER PLC           987188Q LN   -59832893.13   1298182549
BOOKER PLC           1330Q GR     -59832893.13   1298182549
BOOKER PLC-ADR       BOK$ LN      -59832893.13   1298182549
BOOKER PLC-ADR       BKRUY US     -59832893.13   1298182549
BOSTON MAYFLOWER     1845650Z LN  -38702577.78  104489726.5
BP EXPLORATION A     1085738Z LN  -11474454.61   1521107023
BRADSTOCK GROUP      BSKGF US     -1855444.639  268563822.5
BRADSTOCK GROUP      BDK LN       -1855444.639  268563822.5
BRB RESIDUARY LT     2872503Z LN  -300504689.6  399749459.7
BRENT WALKER GRP     754087Q LN    -1774306283  867084131.8
BRENT WALKER GRP     BWKGF US      -1774306283  867084131.8
BRICKAGENT LTD       1194055Z LN  -7097524.821  348579284.1
BRIT BROADCAST       1517Z LN     -690133931.4   5734507056
BRIT ENERGY LTD      523362Q LN    -5822867501   4921095750
BRIT ENERGY PLC      BHEGF US      -5822867501   4921095750
BRIT ENERGY PLC      BEN1 GR       -5822867501   4921095750
BRIT ENERGY PLC      BGYEF US      -5822867501   4921095750
BRIT ENERGY PLC      555140Q VX    -5822867501   4921095750
BRIT ENERGY-A        BENA GR       -5822867501   4921095750
BRIT ENERGY-ADR      BHEFF US      -5822867501   4921095750
BRITISH ENER-$US     BGYD AR       -5822867501   4921095750
BRITISH ENER-$US     BGYNYD AR     -5822867501   4921095750
BRITISH ENER-ADR     BGYNY US      -5822867501   4921095750
BRITISH ENER-BLK     BGYNYB AR     -5822867501   4921095750
BRITISH ENER-BLK     BGYB 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     BGYGF US      -5822867501   4921095750
BRITISH ENERGY-A     BHEAF US      -5822867501   4921095750
BRITISH ENERGY-A     BGYA VX       -5822867501   4921095750
BRITISH ENERGY-A     BGYA PO       -5822867501   4921095750
BRITISH ENERGY-A     3012442Q LN   -5822867501   4921095750
BRITISH TRANSPOR     4015740Z LN  -363269422.4  158334015.9
BRIXTON GREAT WE     1242343Z LN  -24193317.48  164120047.9
BTG INTERNATIONA     2815068Z LN  -4253521.919  408338104.2
BUNZL VENDING SE     1626514Z LN  -3627717.453    117295226
BURNDEN LEISURE      BDL LN       -92092299.62  136726201.7
CALSONIC KANSEI      1541442Z LN  -38998494.18  298627314.6
CALSONIC KANSEI      2730264Z LN  -112686897.5    233439821
CANARY WHARF FIN     1198063Z LN  -133871013.2   4239121844
CAPITAL HOME LOA     3809804Z LN  -15503258.05  16833730499
CARILLION SERVIC     1692592Z LN  -6947459.591  181597321.7
CARISBROOKE ANGL     3815488Z LN  -67887962.81  125396545.6
CARLISLE GROUP       506819Q LN   -11904428.42    203548565
CATTLES PLC          CTT TQ       -599615492.2   3880885246
CATTLES PLC          CHOXF US     -599615492.2   3880885246
CATTLES PLC          CZS GR       -599615492.2   3880885246
CATTLES PLC          CTTSEK EU    -599615492.2   3880885246
CATTLES PLC          CTTSEK EO    -599615492.2   3880885246
CATTLES PLC          CTT LN       -599615492.2   3880885246
CATTLES PLC          CTTEUR EO    -599615492.2   3880885246
CATTLES PLC          CTT QM       -599615492.2   3880885246
CATTLES PLC          CTT NR       -599615492.2   3880885246
CATTLES PLC          CTT EO       -599615492.2   3880885246
CATTLES PLC          CTT EB       -599615492.2   3880885246
CATTLES PLC          CTTUSD EU    -599615492.2   3880885246
CATTLES PLC          CTT IX       -599615492.2   3880885246
CATTLES PLC          CTT PZ       -599615492.2   3880885246
CATTLES PLC          CTT PO       -599615492.2   3880885246
CATTLES PLC          CTTGBP EO    -599615492.2   3880885246
CATTLES PLC          CTT NQ       -599615492.2   3880885246
CATTLES PLC          CTT BQ       -599615492.2   3880885246
CATTLES PLC          CTT EU       -599615492.2   3880885246
CATTLES PLC          CTTUSD EO    -599615492.2   3880885246
CATTLES PLC          CTTEUR EU    -599615492.2   3880885246
CATTLES PLC          CTT VX       -599615492.2   3880885246
CATTLES PLC-ADR      CHOXY US     -599615492.2   3880885246
CATTLES PLC-FPR      CTTF LN      -599615492.2   3880885246
CATTLES PLC-FPR      CTTF PZ      -599615492.2   3880885246
CATTLES PLC-NPR      CTTN IX      -599615492.2   3880885246
CATTLES PLC-NPR      2843726Q EO  -599615492.2   3880885246
CATTLES PLC-NPR      CTTN LN      -599615492.2   3880885246
CATTLES PLC-NPR      CTTN PZ      -599615492.2   3880885246
CATTLES PLC-NPR      2843734Q EO  -599615492.2   3880885246
CATTLES PLC-NPR      2843730Q EU  -599615492.2   3880885246
CATTLES PLC-NPR      CCTN PZ      -599615492.2   3880885246
CATTLES PLC-RFD      CTTR LN      -599615492.2   3880885246
CATTLES PLC-RFD      CTTR IX      -599615492.2   3880885246
CATTLES PLC-RFD      CTTR PZ      -599615492.2   3880885246
CHANNEL 5 TELEVI     93306Z LN     -3955940.23  440416449.8
CHELSEA FOOTBALL     1508858Z LN  -645325606.2  325028457.3
CHRYSALIS GROUP      HR4 GR       -16399845.81  124838262.3
CHRYSALIS GROUP      CHSUSD EU    -16399845.81  124838262.3
CHRYSALIS GROUP      CHS PZ       -16399845.81  124838262.3
CHRYSALIS GROUP      CHS EU       -16399845.81  124838262.3
CHRYSALIS GROUP      CHSUSD EO    -16399845.81  124838262.3
CHRYSALIS GROUP      CYGUF US     -16399845.81  124838262.3
CHRYSALIS GROUP      CHSEUR EO    -16399845.81  124838262.3
CHRYSALIS GROUP      CHSGBP EO    -16399845.81  124838262.3
CHRYSALIS GROUP      CHS EO       -16399845.81  124838262.3
CHRYSALIS GROUP      5CY GR       -16399845.81  124838262.3
CHRYSALIS GROUP      CHS VX       -16399845.81  124838262.3
CHRYSALIS GROUP      CHS IX       -16399845.81  124838262.3
CHRYSALIS GROUP      CHS LN       -16399845.81  124838262.3
CHRYSALIS GROUP      CHSEUR EU    -16399845.81  124838262.3
CHRYSALIS GROUP      CHS PO       -16399845.81  124838262.3
CHRYSALIS GROUP      CLYSF US     -16399845.81  124838262.3
CHRYSALIS MUSIC      1082762Z LN  -5036846.092  103320003.7
CLIPPER WINDPOWE     CWP PZ         -168322000    436419008
CLIPPER WINDPOWE     CWPA LN        -168322000    436419008
CLIPPER WINDPOWE     CWP EO         -168322000    436419008
CLIPPER WINDPOWE     CRPWF US       -168322000    436419008
CLIPPER WINDPOWE     CWP EU         -168322000    436419008
CLIPPER WINDPOWE     C2W GR         -168322000    436419008
CLIPPER WINDPOWE     CWP PG         -168322000    436419008
CLIPPER WINDPOWE     CWP IX         -168322000    436419008
CLIPPER WINDPOWE     CWP LN         -168322000    436419008
CLIPPER WINDPOWE     3470635Q LN    -168322000    436419008
COMMERCIAL VEHIC     1575514Z LN  -19637.28046    146760852
COMMUNITY HOUSIN     4448257Z LN   -14511411.3  202470921.6
COMO HOLDINGS UK     3818576Z LN  -23709992.86  122013803.9
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
CONNECT M77/GSO      2028763Z LN  -30886645.59  222325514.3
CONNECT UTILITIE     2112683Z LN  -5647965.724  124871701.7
CONVENIENCE FOOD     1555794Z LN  -76242510.77    781213617
COOLKEERAGH ESB      4471679Z LN  -52669832.08  317763242.1
COTT BEVERAGES L     605912Z LN   -16895546.47  184391857.8
COTT RETAIL BRAN     4499739Z LN   -15275862.4  184176726.3
CPI MORTARS LTD      1751696Z LN  -24785356.36  119460176.9
CPW NETWORK SERV     2118451Z LN  -58330905.18  134962119.3
CROSBY GROUP PLC     237335Z LN   -122188674.2  211009635.6
CROSS KEYS HOMES     2008711Z LN  -123895266.7  168685502.5
CROWN BLUE LINE      1369234Z LN  -5491244.659  143228058.8
CSC METROCENTRE      1203663Z LN  -177523497.7    231888247
CUCINA LUX INVES     4503083Z LN  -332083965.3   3040705457
DANE HOUSING GRO     1773129Z LN  -34728487.36  131110255.8
DANKA BUS SYSTEM     DNK LN         -497126976    121439000
DANKA BUS SYSTEM     DANKF US       -497126976    121439000
DANKA BUS SYSTEM     DNK VX         -497126976    121439000
DANKA BUS SYSTEM     DNK PO         -497126976    121439000
DANKA BUS SYSTEM     DNK PZ         -497126976    121439000
DANKA BUS SYSTEM     DNK IX         -497126976    121439000
DANKA BUS SYSTEM     3205287Q EU    -497126976    121439000
DANKA BUS SYSTEM     3205283Q EO    -497126976    121439000
DANKA BUS SYSTEM     3205291Q EO    -497126976    121439000
DANKA BUS-$US CE     DANKD AR       -497126976    121439000
DANKA BUS-ADR        DB6 GR         -497126976    121439000
DANKA BUS-ADR        AP39 LI        -497126976    121439000
DANKA BUS-ADR        DANKE US       -497126976    121439000
DANKA BUS-ADR        DANKY US       -497126976    121439000
DANKA BUS-BLK CE     DANKB AR       -497126976    121439000
DANKA BUS-C/E CE     DANKC AR       -497126976    121439000
DANKA BUS-CEDEAR     DANK AR        -497126976    121439000
DAVENHAM GROUP P     DAV PZ       -57317833.22  114701147.6
DAVENHAM GROUP P     DAV EO       -57317833.22  114701147.6
DAVENHAM GROUP P     DAV EU       -57317833.22  114701147.6
DAVENHAM GROUP P     DAV PG       -57317833.22  114701147.6
DAVENHAM GROUP P     DAH GR       -57317833.22  114701147.6
DAVENHAM GROUP P     DAVEUR EO    -57317833.22  114701147.6
DAVENHAM GROUP P     DAH TH       -57317833.22  114701147.6
DAVENHAM GROUP P     DAV LN       -57317833.22  114701147.6
DCK GROUP LTD        4006628Z LN  -23972516.74  108515833.6
DE STEFANO INVES     3814768Z LN  -10968616.22    208612111
DELTA 3 UK LTD       4087083Z LN   -2278970462   8024284919
DHL EXPRESS UK L     1564450Z LN  -588968969.9  178269906.1
DIAMOND RESORT H     1710824Z LN  -36346087.76    199633867
DIAMOND RESORTS      1578906Z LN  -55241260.22  185000514.5
DISPOSABLE SOFT      1124335Z LN  -25554763.54  154077028.1
DONCASTERS PLC       2248Z LN     -317308195.4   1941958348
DONCASTERS-ADR       295664Q US   -317308195.4   1941958348
DRIVE ASSIST HOL     3641135Z LN  -129629293.2  804046536.3
DTZ DEBENHAM TIE     1637608Z LN  -65367918.17    431959182
E ON RUHRGAS UK      1671208Z LN  -205306824.5  401477872.3
E ON UK CHP LTD      2642428Z LN  -475664052.2  262876104.5
EASYNET GROUP        EAY GR       -60380605.51  334049332.2
EASYNET GROUP        ESY PO       -60380605.51  334049332.2
EASYNET GROUP        EZNGF US     -60380605.51  334049332.2
EASYNET GROUP        ESY LN       -60380605.51  334049332.2
EASYNET GROUP        ESY VX       -60380605.51  334049332.2
EASYNET GROUP-CV     91009Z LN    -60380605.51  334049332.2
ECONOMIST NEWSPA     6888Z LN     -2941080.267  399071232.6
EDF ENERGY 1 LTD     1201287Z LN  -185411355.3  354815290.3
EMI GROUP -ASSD      EMIA LN       -2265916257   2950021937
EMI GROUP LTD        EMI LN        -2265916257   2950021937
EMI GROUP PLC        EMI VX        -2265916257   2950021937
EMI GROUP PLC        EMIPF US      -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        EMI$ LN       -2265916257   2950021937
EMI GROUP-ADR        38IS LN       -2265916257   2950021937
EMI GROUP-ADR        EMIPY US      -2265916257   2950021937
ENERGY POWER RES     510443Z LN   -93963662.92  168611857.1
EQUINITI LTD         977621Z LN   -93668087.43  951504738.1
EQUITY INSURANCE     1284698Z LN   -17694968.8  178126828.2
ERM GROUP HOLDIN     3125976Z LN  -163200611.7    627934170
ERM-EUROPE LTD       1539482Z LN  -6211608.917  222158884.2
ESPORTA HEALTH &     1689624Z LN  -15075296.84  156183034.4
EUROPEAN HOME        EHR EU       -14328735.16  110864081.4
EUROPEAN HOME        EHR PO       -14328735.16  110864081.4
EUROPEAN HOME        EHR4 EO      -14328735.16  110864081.4
EUROPEAN HOME        EHR1 EO      -14328735.16  110864081.4
EUROPEAN HOME        EHR9 EO      -14328735.16  110864081.4
EUROPEAN HOME        FPAKF US     -14328735.16  110864081.4
EUROPEAN HOME        EHRGBP EO    -14328735.16  110864081.4
EUROPEAN HOME        EHR8 EO      -14328735.16  110864081.4
EUROPEAN HOME        EHR LN       -14328735.16  110864081.4
EUROPEAN HOME        EHR PZ       -14328735.16  110864081.4
EUROPEAN HOME        EHR7 EO      -14328735.16  110864081.4
EUROPEAN HOME        EHR3 EO      -14328735.16  110864081.4
EUROPEAN HOME        EHR5 EO      -14328735.16  110864081.4
EUROPEAN HOME        EHR6 EO      -14328735.16  110864081.4
EUROPEAN HOME        EHR10 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 VX       -14328735.16  110864081.4
EUROPEAN HOME        EHREUR EU    -14328735.16  110864081.4
EUROPEAN HOME        EHR EO       -14328735.16  110864081.4
EUROPEAN HOME        EHR2 EO      -14328735.16  110864081.4
EUROSTAR INTERNA     4379945Z LN   -2296294817  600452807.4
EXXONMOBIL MARIN     1196527Z LN  -11436778.26  350633878.1
FAIRLINE BOATS H     4498779Z LN  -13944238.58  114504852.8
FAREPAK PLC          FPK LN       -14328735.16  110864081.4
FINANCIAL SERVIC     2630281Z LN  -167558381.3  246856182.8
FIRST CHOICE HOL     1098394Z LN  -599861682.6  608849393.2
FIRST MANCHESTER     1651368Z LN  -1085204.011  152518055.1
FIRST SOUTH YORK     1575010Z LN  -17765193.06  105951310.3
FITNESS FIRST CL     1734144Z LN  -4542316.813  262997348.7
FITNESS FIRST GR     4501843Z LN  -831355754.2   1655609515
FLECTAT LTD          1160967Z LN  -53637033.56  103228447.6
FLUKE PRECISION      1429402Z LN  -991319.9558  125904210.3
FLYBE LTD            6621Z LN     -118366561.9  450450527.2
FOOTBALL FOUNDAT     3958180Z LN  -1856870.101    108334858
FORD MOTOR CO LT     1291306Z LN  -493779397.8   5534240380
FOUR SEASONS HEA     1865450Z LN    -103869946    365540616
FUJIFILM IMAGING     2113899Z LN  -9049513.414  101994398.3
FUNDING CORP LTD     4157637Z LN  -28925795.68  201083535.3
FW FARNSWORTH LT     1293386Z LN  -44420065.35  102695080.1
GALA GROUP LTD       19374Z LN     -1443271177   5876950503
GALIFORM CORPORA     1478794Z LN  -49876078.98  987241731.3
GAMESTEC LEISURE     1432626Z LN  -22918299.36  107315419.3
GARTLAND WHALLEY     GWB LN        -10986768.6  145352034.5
GE CALEDONIAN LT     2178340Z LN  -162433000.9    291389984
GE MONEY SECURED     1194559Z LN  -86537323.69  719721515.9
GENERAL MOTORS       1062338Z LN   -1083369252   1738332123
GETRONICS UK LTD     1446978Z LN  -21428395.69  105267195.7
GGT GROUP PLC        500970Q LN     -156372272  408211200.9
GGT GROUP-ADR        GGTRY US       -156372272  408211200.9
GLAXOSMITHKLINE      1426Z LN     -9429285.587  13095256920
GLOBAL CROSSING      3629883Z LN  -353965082.8  492328850.3
GLOBAL RADIO SER     4171741Z LN  -58536057.18  145897320.9
GONDOLA GROUP LT     4499995Z LN  -284524422.8   1496226646
GONDOLA HOLD         913024Q GR   -284524422.8   1496226646
GONDOLA HOLD         GND VX       -284524422.8   1496226646
GONDOLA HOLDINGS     GND IX       -284524422.8   1496226646
GONDOLA HOLDINGS     GND LN       -284524422.8   1496226646
GONDOLA HOLD-NEW     GNDB LN      -284524422.8   1496226646
GONDOLA HOLD-NEW     GNDA LN      -284524422.8   1496226646
GOODRICH CONTROL     3631571Z LN    -203464797  600544111.2
GRAINGER FINANCE     1850494Z LN  -22474336.95   1950379725
GRANT THORNTON U     961842Z LN   -87634636.95  389831122.7
GREEN (E) & PART     GEP LN       -32392901.23  196106689.5
HALDEX CONCENTRI     4160093Z LN  -29953316.08  111499657.3
HARMSWORTH PRINT     1552314Z LN  -17382531.76  325365175.8
HARMSWORTH PRINT     1719464Z LN  -46809590.17  171744856.2
HARMSWORTH QUAYS     1552378Z LN  -109747106.9  292508124.8
HAYMARKET GROUP      4158941Z LN    -100498143  307693877.6
HEREFORDSHIRE HO     1945190Z LN  -2634668.462    110312423
HESS INDONESIA P     1705776Z LN  -56622019.25  582889084.6
HMV GROUP -GDR       29362Z US    -92987530.85  883465014.8
HMV GROUP -GDR       276960Q GR   -92987530.85  883465014.8
HMV GROUP PLC        HMV PO       -92987530.85  883465014.8
HMV GROUP PLC        HMV10 EO     -92987530.85  883465014.8
HMV GROUP PLC        HMVUSD EO    -92987530.85  883465014.8
HMV GROUP PLC        HMV2 EO      -92987530.85  883465014.8
HMV GROUP PLC        HM4 GK       -92987530.85  883465014.8
HMV GROUP PLC        HMV1 EO      -92987530.85  883465014.8
HMV GROUP PLC        HMV LN       -92987530.85  883465014.8
HMV GROUP PLC        HMV NR       -92987530.85  883465014.8
HMV GROUP PLC        HM4 GR       -92987530.85  883465014.8
HMV GROUP PLC        HMV VX       -92987530.85  883465014.8
HMV GROUP PLC        HMV9 EO      -92987530.85  883465014.8
HMV GROUP PLC        HMV IX       -92987530.85  883465014.8
HMV GROUP PLC        HMV4 EO      -92987530.85  883465014.8
HMV GROUP PLC        HMVUSD EU    -92987530.85  883465014.8
HMV GROUP PLC        HMV NQ       -92987530.85  883465014.8
HMV GROUP PLC        HMV EO       -92987530.85  883465014.8
HMV GROUP PLC        HMV QM       -92987530.85  883465014.8
HMV GROUP PLC        HMV PZ       -92987530.85  883465014.8
HMV GROUP PLC        HMVEUR EO    -92987530.85  883465014.8
HMV GROUP PLC        HMV5 EO      -92987530.85  883465014.8
HMV GROUP PLC        HMV7 EO      -92987530.85  883465014.8
HMV GROUP PLC        HMV EB       -92987530.85  883465014.8
HMV GROUP PLC        HMV TQ       -92987530.85  883465014.8
HMV GROUP PLC        HMV BQ       -92987530.85  883465014.8
HMV GROUP PLC        HMVMF US     -92987530.85  883465014.8
HMV GROUP PLC        HMVEUR EU    -92987530.85  883465014.8
HMV GROUP PLC        HMV S1       -92987530.85  883465014.8
HMV GROUP PLC        HMV3 EO      -92987530.85  883465014.8
HMV GROUP PLC        HMV EU       -92987530.85  883465014.8
HMV GROUP PLC        HMV6 EO      -92987530.85  883465014.8
HMV GROUP PLC        HMV8 EO      -92987530.85  883465014.8
HMV GROUP PLC        HMVGBP EO    -92987530.85  883465014.8
HOLIDAY AUTOS IN     1155863Z LN  -52099341.51  222704774.4
HOME RETAIL GROU     1897678Z LN  -70921714.17  750699513.1
HOMEFIELD PVT UK     4501835Z LN  -13668996.51  455224068.7
HOUSE FRASER-ADR     HSFRY US     -14410799.86  200149998.1
HOUSE FRASER-ADR     HOFSY US     -14410799.86  200149998.1
HOUSE OF FRASER      HOF PO       -14410799.86  200149998.1
HOUSE OF FRASER      HOF PZ       -14410799.86  200149998.1
HOUSE OF FRASER      HOF VX       -14410799.86  200149998.1
HOUSE OF FRASER      HOF LN       -14410799.86  200149998.1
HOUSE OF FRASER      HSFRF US     -14410799.86  200149998.1
HOUSE OF FRASER      HOF IX       -14410799.86  200149998.1
HUTCHISON 3G UK      265923Z LN    -2558478023  10215382954
HUTCHISON 3G UK      1870250Z LN  -10150197192  10089105316
HYDREX HOLDINGS      4156949Z LN  -150849963.2  145584295.2
IG GROUP LTD         4502843Z LN   -1681700671    208248450
IGLO FOODS GROUP     2332487Z LN  -427711801.4   3363661535
IKANO FINANCIAL      2599182Z LN  -11016514.34  150562302.2
INCOMMUNITIES GR     4508531Z LN   -89005973.7  440297257.7
INEOS GROUP HLDG     6623Z LN     -583710740.2  15449555292
INEOS MANUFACTUR     2170452Z LN  -6726362.412   1831309315
INEOS VINYLS UK      1072618Z LN  -236733123.8  260899630.2
INFORMA UK LTD       699186Z LN   -267015729.6   1019729118
INN ON THE PARK      1111959Z LN  -20164779.75  213273261.3
INSPIRED GAMING      1181783Z LN  -87284373.38  396170831.1
INTELLIGENT FINA     1645352Z LN  -18232958.48  154556014.8
INTELLIGENT PROC     1897878Z LN  -16714344.93  183346516.4
INTERFLOOR GROUP     317371Z LN   -6491968.079  102342688.7
INTERNATIONAL RE     1074242Z LN  -43752001.08  114451373.2
INTERNATIONAL TR     1647720Z LN  -2256724.849  114588447.6
INTEROUTE COMMUN     214906Z LN   -100076490.6  843548864.4
IRANIAN OIL CO U     1380570Z LN   -88170857.4  370135921.5
JARVIS PLC           JRVS EO      -64739862.73    130951086
JARVIS PLC           JRV EO       -64739862.73    130951086
JARVIS PLC           JRVS5 EO     -64739862.73    130951086
JARVIS PLC           JRVS6 EO     -64739862.73    130951086
JARVIS PLC           JRVS9 EO     -64739862.73    130951086
JARVIS PLC           JRVS4 EO     -64739862.73    130951086
JARVIS PLC           JRVS PO      -64739862.73    130951086
JARVIS PLC           JRVS7 EO     -64739862.73    130951086
JARVIS PLC           JRVS1 EO     -64739862.73    130951086
JARVIS PLC           JRVS PZ      -64739862.73    130951086
JARVIS PLC           JVSPF US     -64739862.73    130951086
JARVIS PLC           JRVS EU      -64739862.73    130951086
JARVIS PLC           JRVS VX      -64739862.73    130951086
JARVIS PLC           JRVS IX      -64739862.73    130951086
JARVIS PLC           JRVSEUR EO   -64739862.73    130951086
JARVIS PLC           JRVSEUR EU   -64739862.73    130951086
JARVIS PLC           JRVSGBP EO   -64739862.73    130951086
JARVIS PLC           JRVS8 EO     -64739862.73    130951086
JARVIS PLC           JRVS LN      -64739862.73    130951086
JARVIS PLC           JVR GR       -64739862.73    130951086
JARVIS PLC           JRVS2 EO     -64739862.73    130951086
JARVIS PLC           JRVS3 EO     -64739862.73    130951086
JDR ENTERPRISES      3947788Z LN  -18283944.55  190661628.9
JESSOPS PLC          JS4 GR       -42702018.35  112964060.4
JESSOPS PLC          JSPGBP EO    -42702018.35  112964060.4
JESSOPS PLC          JSP PO       -42702018.35  112964060.4
JESSOPS PLC          JSP VX       -42702018.35  112964060.4
JESSOPS PLC          JSPEUR EU    -42702018.35  112964060.4
JESSOPS PLC          JSP LN       -42702018.35  112964060.4
JESSOPS PLC          JSP IX       -42702018.35  112964060.4
JESSOPS PLC          JSP EU       -42702018.35  112964060.4
JESSOPS PLC          JSP PZ       -42702018.35  112964060.4
JESSOPS PLC          JSP EO       -42702018.35  112964060.4
JESSOPS PLC          JSPEUR EO    -42702018.35  112964060.4
JS BLOOR SWINDON     1568906Z LN  -5329885.206  110390972.1
JVC EUROPE LTD       2667041Z LN  -2824766.239  131996942.9
KAZAKHGO-GDR         KZG LI          -88561000    241726000
KAZAKHGO-GDR         KZGI LI         -88561000    241726000
KAZAKHGO-GDR         KZGQ IX         -88561000    241726000
KAZAKHGO-GDR         KZQGI IX        -88561000    241726000
KAZAKHGOLD- 144A     768834Z LI      -88561000    241726000
KAZAKHGOLD GP LT     KGZ HK          -88561000    241726000
KAZAKHGOLD-REG T     KZGT LI         -88561000    241726000
KAZAKHGOLD-REGS      3683241Q LI     -88561000    241726000
KELLOGG MANAGEME     1739336Z LN  -5288683.744  348135786.3
KESTREL HOLDINGS     4499515Z LN  -3577225.606  950172823.8
KEW GREEN HOTELS     1031803Z LN  -16234267.92    219908068
KIA MOTORS UK LT     1985990Z LN   -34025454.6  315596502.8
KIER DEVELOPMENT     86900Z LN    -6527759.314  275699248.6
KILMARTIN HOLDIN     3589161Z LN  -32467784.16  576731039.1
KILMARTIN PROPER     534862Z LN    -37743228.9  444220212.7
KLEENEZE PLC         KLZ LN       -14328735.16  110864081.4
KODAK LTD            1275242Z LN  -180673404.9  661044368.6
LAMBERT FENCHURC     LMF LN       -1453050.041   1826806853
LANCASTER INVEST     1575538Z LN  -54823340.19  121302849.6
LAND SECURITIES      1371626Z LN  -103330200.3   4796043425
LAPSENT LTD          203678Z LN   -26875940.03  200397842.7
LAST MINUTE NETW     1180895Z LN  -588292610.9  572322264.9
LATIMER GROUP LT     4089809Z LN  -397652099.9  909970808.9
LAZARD & CO SERV     2575394Z LN  -3197910.908  103653546.3
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
LEGAL & GENERAL      1575290Z LN  -1113055.576  157485589.7
LGC LTD              161695Z LN   -44759203.51  163172696.4
LINK FINANCIAL       3041Z LN     -63296738.93  226722478.9
LIONCOVER INSURA     1120431Z LN  -221632.1611  741441082.5
LLOYDS TSB CORPO     2045779Z LN  -7210252.406  310036480.9
LLOYDS TSB EQUIP     1214495Z LN  -661481.4498  334557469.7
LLOYDS TSB EQUIP     1238423Z LN  -1919544.165  270438080.8
LOGICA INTERNATI     2562234Z LN  -174392477.1  205240612.1
LOMBARD CORPORAT     1162975Z LN  -7309362.404  198951662.4
LOMBARD CORPORAT     1131527Z LN   -8573468.83  205568221.6
LONDON ORGANISIN     2707808Z LN  -111194464.2  319902766.9
LONDON TOWN PLC      LTWR LN      -21897636.36  175672299.2
LONDON TOWN PLC      LTW PG       -21897636.36  175672299.2
LONDON TOWN PLC      LTW PO       -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 PZ       -21897636.36  175672299.2
LONDON TOWN PLC      LTW EU       -21897636.36  175672299.2
LONDON TOWN PLC      LOU GR       -21897636.36  175672299.2
LONDON TOWN PLC      LTW EO       -21897636.36  175672299.2
LONDON TOWN PLC      LTW IX       -21897636.36  175672299.2
L'OREAL UK LTD       1294866Z LN  -38243907.35  469320156.2
LOTUS CARS LTD       1361858Z LN  -35114342.56  198253618.4
LOTUS GROUP INTE     144299Z LN   -36824866.02  207696437.1
LYNN WIND FARM L     3953012Z LN  -12411782.18  259118026.8
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
MAKRO SELF SERVI     1373618Z LN  -164720222.7  400641220.4
MANCHESTER CITY      2348397Z LN  -234766219.8  728747414.2
MANSFORD HOLDING     253659Z LN   -4565898.062  650742111.3
MAPELEY STEPS CO     1914846Z LN  -44982581.48  112862516.8
MARCONI PLC          MRCQF US      -2203513803   7204891602
MARCONI PLC          MONI BB       -2203513803   7204891602
MARCONI PLC          203083Q VX    -2203513803   7204891602
MARCONI PLC          MNI BB        -2203513803   7204891602
MARCONI PLC          MNI LN        -2203513803   7204891602
MARCONI PLC          MY2 GR        -2203513803   7204891602
MARCONI PLC-ADR      MONIE US      -2203513803   7204891602
MARCONI PLC-ADR      MONI US       -2203513803   7204891602
MARCONI PLC-ADR      MRCQY US      -2203513803   7204891602
MARCONI PLC-ADR      MY2A GR       -2203513803   7204891602
MARCONI PLC-ADR      QUQMON AU     -2203513803   7204891602
MARCONI PLC-ADR      MCONY US      -2203513803   7204891602
MARCONI PLC-ADR      MCBA GR       -2203513803   7204891602
MARCONI PLC-ADR      MONIY US      -2203513803   7204891602
MARSH SERVICES L     1701416Z LN  -523772036.4  121325725.9
MAYBOURNE HOTELS     1824362Z LN  -7342720.585  243776690.2
MBDA UK LTD          1720864Z LN   -24824098.4   1872164454
MCINERNEY GROUP      1967014Z LN  -174737505.4  140489212.7
MEDIAEDGE CIA UK     1912470Z LN  -30968632.67    193466296
MEDIMMUNE LTD        1596402Z LN  -18333665.25  353092399.2
MENZIES HOTELS H     4496419Z LN  -100398281.3  322775887.8
MENZIES HOTELS O     2527986Z LN  -61896569.44    159951232
MIDDLESEX CABLE      1598242Z LN  -170219219.9  108664527.9
MIDLAND EXPRESSW     583730Z LN   -21453585.64   1190959618
MILK LINK PROCES     1970766Z LN  -8969327.852  114318428.2
MILLENNIUM STADI     1727672Z LN  -21509367.87  169250447.4
MILLER HOMES         2220892Z LN  -31021993.81    983811413
MNAIP LTD            2018815Z LN  -8594175.012  140270204.8
MONARCH HOLDINGS     4502027Z LN  -69668058.94  698208587.3
MOTO HOSPITALITY     1344378Z LN  -276920533.6  958277274.1
MYTRAVEL GROUP       3544280Q IX  -379721780.5   1817512774
MYTRAVEL GROUP       MT/S LN      -379721780.5   1817512774
MYTRAVEL GROUP       MYTPF US     -379721780.5   1817512774
MYTRAVEL GROUP       MT/S VX      -379721780.5   1817512774
MYTRAVEL GROUP       MT/S PO      -379721780.5   1817512774
MYTRAVEL GROUP       ARO2 GR      -379721780.5   1817512774
MYTRAVEL GROUP P     MYTGF US     -379721780.5   1817512774
MYTRAVEL GROUP P     MT/ VX       -379721780.5   1817512774
MYTRAVEL GROUP P     1018144Q GR  -379721780.5   1817512774
MYTRAVEL GROUP-A     2281919Q GR  -379721780.5   1817512774
MYTRAVEL GROUP-A     MYTVF US     -379721780.5   1817512774
MYTRAVEL TOUR OP     1190295Z LN   -1444587831   1560632416
NACCO MATERIALS      1141567Z LN  -7118433.514  147004693.9
NATIONS HEALTHCA     623142Z LN    -73694956.7  114365932.5
NCR LTD              3083521Z LN  -316495672.6    356199007
NESTLE UK LTD        1274562Z LN  -431385112.4   1655061910
NEW LINX HOUSING     1801057Z LN  -12040509.71  233111422.6
NEW LOOK RETAIL      2711544Z LN  -400438791.5   2225635874
NEW STAR ASSET       NSAM LN        -397718038  292972732.1
NEW STAR ASSET       NWSAF US       -397718038  292972732.1
NEW STAR ASSET       3226431Q EU    -397718038  292972732.1
NEW STAR ASSET       NSAA LN        -397718038  292972732.1
NEW STAR ASSET       NSAM IX        -397718038  292972732.1
NEW STAR ASSET       NSAM PO        -397718038  292972732.1
NEW STAR ASSET       N6S GR         -397718038  292972732.1
NEW STAR ASSET       3226439Q EU    -397718038  292972732.1
NEW STAR ASSET       NSAM PZ        -397718038  292972732.1
NEW STAR ASSET       3226447Q EO    -397718038  292972732.1
NEW STAR ASSET       3226443Q EO    -397718038  292972732.1
NEW STAR ASSET       NSAM TQ        -397718038  292972732.1
NEW STAR ASSET       3226435Q EO    -397718038  292972732.1
NEWCASTLE UNITED     4380361Z LN  -102558583.4  184539911.8
NEWCASTLE UNITED     1060322Z LN  -112290583.6  186651205.2
NORBAIN GROUP LT     4007676Z LN  -15436972.45  108956420.2
NORTHERN ELEC FI     28944Z US    -1130359.983    408059954
NORTHERN ELECTRI     1160759Z LN  -1130359.983    408059954
NORTHERN FO-ASSD     NFDA LN      -70166103.48  924672036.4
NORTHERN FOODS       NFDS PZ      -70166103.48  924672036.4
NORTHERN FOODS       NFDS LN      -70166103.48  924672036.4
NORTHERN FOODS       NFDSEUR EU   -70166103.48  924672036.4
NORTHERN FOODS       NFDS NR      -70166103.48  924672036.4
NORTHERN FOODS       NFDS S1      -70166103.48  924672036.4
NORTHERN FOODS       NFDS BQ      -70166103.48  924672036.4
NORTHERN FOODS       NFDS EO      -70166103.48  924672036.4
NORTHERN FOODS       NFDSGBP EO   -70166103.48  924672036.4
NORTHERN FOODS       NFDS TQ      -70166103.48  924672036.4
NORTHERN FOODS       NFDS NQ      -70166103.48  924672036.4
NORTHERN FOODS       NFDSUSD EO   -70166103.48  924672036.4
NORTHERN FOODS       NFDS IX      -70166103.48  924672036.4
NORTHERN FOODS       NFDSEUR EO   -70166103.48  924672036.4
NORTHERN FOODS       NFDS VX      -70166103.48  924672036.4
NORTHERN FOODS       NTFOF US     -70166103.48  924672036.4
NORTHERN FOODS       NFDS QM      -70166103.48  924672036.4
NORTHERN FOODS       NFDS EU      -70166103.48  924672036.4
NORTHERN FOODS       NFO GR       -70166103.48  924672036.4
NORTHERN FOODS       NFDSUSD EU   -70166103.48  924672036.4
NORTHERN FOODS       NFO GK       -70166103.48  924672036.4
NORTHERN FOODS       NFDS EB      -70166103.48  924672036.4
NORTHERN FOODS       NFDS PO      -70166103.48  924672036.4
NORTHERN FOODS P     NFDR LN      -70166103.48  924672036.4
NORTHERN FOO-NEW     NFDN LN      -70166103.48  924672036.4
NORTHERN FOO-RFD     650060Q LN   -70166103.48  924672036.4
NOVAR ED&S LTD       1286578Z LN  -12362003.04    176723922
NOVELIS UK LTD       1295610Z LN  -29354907.35  167393334.2
NPIL HOLDCO LTD      3641071Z LN  -174437379.8  865144704.3
NPOWER GAS LTD       1689816Z LN  -381274433.9  500408294.4
NPOWER LTD           1185599Z LN  -399535772.9   3443512739
NPOWER NORTHERN      1779169Z LN    -477727478   2222376018
NTL COMMUNICATIO     1773729Z LN  -301208075.9  954738393.1
NTL MIDLANDS LTD     1579698Z LN  -1174963.948  459374901.9
ODEON & UCI CINE     3489372Z LN    -380122740  961975815.4
O-I MANUFACTURIN     1320610Z LN  -7063615.875  126090273.5
OPTIMUM CARE LTD     3951796Z LN   -23827846.5  131314548.6
ORANGE PLC           ORNGF US     -593935104.1   2902299502
ORANGE PLC           951641Q LN   -593935104.1   2902299502
ORANGE PLC           1460Q GR     -593935104.1   2902299502
ORANGE PLC-ADR       ORA$ LN      -593935104.1   2902299502
ORANGE PLC-ADR       ORNGY US     -593935104.1   2902299502
ORANGE PLC-ADR       ONG GR       -593935104.1   2902299502
ORBIS PLC            ORBSF US       -4168493.8  127701679.5
ORBIS PLC            OBG PO         -4168493.8  127701679.5
ORBIS PLC            OBS LN         -4168493.8  127701679.5
ORBIS PLC            RLP GR         -4168493.8  127701679.5
ORBIS PLC            OBS IX         -4168493.8  127701679.5
ORBIS PLC            OBS PZ         -4168493.8  127701679.5
ORBIS PLC            OBS PO         -4168493.8  127701679.5
OUTDOOR GROUP LT     1318338Z LN  -34424941.75  127535038.5
PARK FOOD GROUP      PKFD LN      -33281188.01  114623958.4
PARK GROUP PLC       PKG EO       -33281188.01  114623958.4
PARK GROUP PLC       PKG PZ       -33281188.01  114623958.4
PARK GROUP PLC       PKG VX       -33281188.01  114623958.4
PARK GROUP PLC       PKGGBP EO    -33281188.01  114623958.4
PARK GROUP PLC       PKG PO       -33281188.01  114623958.4
PARK GROUP PLC       PRKGF US     -33281188.01  114623958.4
PARK GROUP PLC       PKG EU       -33281188.01  114623958.4
PARK GROUP PLC       PKG LN       -33281188.01  114623958.4
PARK GROUP PLC       PRKG IX      -33281188.01  114623958.4
PARSONS BRINCKER     4496363Z LN  -4691186.744  159531362.7
PARTKESTREL LTD      1486546Z LN  -90325648.32   1585961788
PATIENTLINE PLC      2928903Q EU  -54677284.64  124948245.8
PATIENTLINE PLC      PTL PZ       -54677284.64  124948245.8
PATIENTLINE PLC      PTL IX       -54677284.64  124948245.8
PATIENTLINE PLC      2928899Q EO  -54677284.64  124948245.8
PATIENTLINE PLC      2928907Q EO  -54677284.64  124948245.8
PATIENTLINE PLC      PTL LN       -54677284.64  124948245.8
PATIENTLINE PLC      PTL VX       -54677284.64  124948245.8
PATIENTLINE PLC      PTL PO       -54677284.64  124948245.8
PD PORT SERVICES     1407442Z LN  -10969629.43  162071623.9
PENDRAGON PREMIE     1858506Z LN  -9740093.803  156352977.7
PENNINE HOUSING      1892438Z LN  -173655254.2  138682867.1
PEUGEOT CITROEN      1974702Z LN  -72708407.45    266912249
PHONOGRAPHIC PER     1296410Z LN  -7333794.897  201686757.6
PHS GROUP HOLDIN     3173182Z LN    -211011146   1915467185
PHS GROUP PLC        592449Z LN     -211011146   1915467185
PIPEX UK LTD         3956092Z LN  -118990464.5  384147753.3
PLACES FOR PEOPL     1914158Z LN  -56178390.75    585147920
PLANNED MAINTENA     1344714Z LN  -57648953.97  148147314.6
PLUS HOUSING GRO     4015788Z LN  -10023120.58  371941616.5
POLYUS G-GDR         POLG TQ         -88561000    241726000
POLYUS G-GDR         POLG LI         -88561000    241726000
POLYUS G-GDR         KZG TQ          -88561000    241726000
POLYUS G-GDR         PLZLY US        -88561000    241726000
POLYUS G-GDR         KXZ GR          -88561000    241726000
POLYUS G-GDR         PLGL LI         -88561000    241726000
POLYUS G-GDR         KAZAY US        -88561000    241726000
PORTSMOUTH FOOTB     2253627Z LN  -93977761.27  177073811.1
POST OFFICE LTD      1542650Z LN  -810274769.8   1745713935
POWERCORP INTERN     2075155Z LN  -9861916.228    120277629
PPG METRO 500 LT     2224564Z LN  -28999808.24  139145845.8
PREMIER PROPERTY     4006740Z LN  -154087010.7  766206481.6
PRESTBURY WENTWO     3814856Z LN  -84753043.56    659529899
PRINOVIS LIVERPO     2074147Z LN  -23730499.87  280965576.9
PRODUCTION SERVI     2278723Z LN  -66744030.72  507657733.9
PROSTRAKAN GROUP     PSK LN       -9666264.987  134080449.8
PROSTRAKAN GROUP     PSKGBP EO    -9666264.987  134080449.8
PROSTRAKAN GROUP     PKNGF US     -9666264.987  134080449.8
PROSTRAKAN GROUP     PSK S1       -9666264.987  134080449.8
PROSTRAKAN GROUP     PSKEUR EU    -9666264.987  134080449.8
PROSTRAKAN GROUP     PSK PZ       -9666264.987  134080449.8
PROSTRAKAN GROUP     PSK EO       -9666264.987  134080449.8
PROSTRAKAN GROUP     PSK EU       -9666264.987  134080449.8
PROSTRAKAN GROUP     PSK IX       -9666264.987  134080449.8
PROSTRAKAN GROUP     PSK PO       -9666264.987  134080449.8
PROSTRAKAN GROUP     PSKEUR EO    -9666264.987  134080449.8
PROSTRAKAN GROUP     PSK VX       -9666264.987  134080449.8
QHOTELS GROUP LT     759287Z LN     -184737716  699448824.7
QUINN BUILDING P     3949900Z LN  -85682901.55   1320302420
QUINN RADIATORS      1405898Z LN  -84009968.77  297557563.9
R&R ICE CREAM LT     3624280Z LN  -119415790.4  995648642.4
RAVEN HOUSING TR     4155997Z LN  -1384128.565  165155995.7
RAYTHEON SYSTEMS     1068610Z LN  -32601425.32    346298511
RBS MEZZANINE LT     2198564Z LN  -31627066.42  866060198.2
REAL ESTATE OP-O     REO LN        -1301115843   1804307307
REAL ESTATE OP-O     REOGBP EO     -1301115843   1804307307
REAL ESTATE OP-O     REO EU        -1301115843   1804307307
REAL ESTATE OP-O     REO VX        -1301115843   1804307307
REAL ESTATE OP-O     REA GR        -1301115843   1804307307
REAL ESTATE OP-O     REO PZ        -1301115843   1804307307
REAL ESTATE OP-O     REO IX        -1301115843   1804307307
REAL ESTATE OP-O     REO EO        -1301115843   1804307307
REAL ESTATE OP-O     REO ID        -1301115843   1804307307
RED BEE MEDIA LT     1953086Z LN  -5917906.033  233315140.7
RED FOOTBALL JOI     3277951Z LN  -101906192.3   1372452972
REDCASTLE 214 OX     1195151Z LN  -203269.4356  262332395.9
REGARD HOLDINGS      4157517Z LN  -2678709.275  159772566.2
REGUS LTD            273187Q LN   -46111832.15    367181111
REGUS PLC            RGU GR       -46111832.15    367181111
REGUS PLC            2296Z LN     -46111832.15    367181111
REGUS PLC            273195Q VX   -46111832.15    367181111
REGUS PLC            REGSF US     -46111832.15    367181111
REGUS PLC-ADS        REGS US      -46111832.15    367181111
REGUS PLC-ADS        REGSY US     -46111832.15    367181111
REGUS PLC-ADS        RGUA GR      -46111832.15    367181111
REGUS PLC-ADS        REGSV US     -46111832.15    367181111
RENAULT RETAIL G     1569882Z LN  -939316.5822  148920952.8
RENTOKIL INITIAL     RTO LN         -142674955   3045660413
RENTOKIL INITIAL     RTO TQ         -142674955   3045660413
RENTOKIL INITIAL     RTOPEN EO      -142674955   3045660413
RENTOKIL INITIAL     RTOUSD EO      -142674955   3045660413
RENTOKIL INITIAL     RTO EO         -142674955   3045660413
RENTOKIL INITIAL     RTO NQ         -142674955   3045660413
RENTOKIL INITIAL     RTOKF US       -142674955   3045660413
RENTOKIL INITIAL     RTO1 GK        -142674955   3045660413
RENTOKIL INITIAL     RTO BQ         -142674955   3045660413
RENTOKIL INITIAL     RTOPEN EU      -142674955   3045660413
RENTOKIL INITIAL     RTO1 GR        -142674955   3045660413
RENTOKIL INITIAL     RTO NR         -142674955   3045660413
RENTOKIL INITIAL     RTO PZ         -142674955   3045660413
RENTOKIL INITIAL     RTOGBP EO      -142674955   3045660413
RENTOKIL INITIAL     RTO VX         -142674955   3045660413
RENTOKIL INITIAL     RTO IX         -142674955   3045660413
RENTOKIL INITIAL     RTO PO         -142674955   3045660413
RENTOKIL INITIAL     RKLIF US       -142674955   3045660413
RENTOKIL INITIAL     RTOEUR EU      -142674955   3045660413
RENTOKIL INITIAL     RTO S1         -142674955   3045660413
RENTOKIL INITIAL     RTOUSD EU      -142674955   3045660413
RENTOKIL INITIAL     RTO EB         -142674955   3045660413
RENTOKIL INITIAL     RTO QM         -142674955   3045660413
RENTOKIL INITIAL     RTO EU         -142674955   3045660413
RENTOKIL INITIAL     RTO1 EO        -142674955   3045660413
RENTOKIL INITIAL     RTO GR         -142674955   3045660413
RENTOKIL INITIAL     RTOEUR EO      -142674955   3045660413
RENTOKIL INITIAL     RTOG IX        -142674955   3045660413
RENTOKIL-SP ADR      RTOKY US       -142674955   3045660413
RENTOKIL-SP ADR      AP76 LI        -142674955   3045660413
RIO TINTO LONDON     1313074Z LN  -11248111.34  837785373.2
ROBINS & DAY LTD     1280922Z LN  -36729873.15  136233088.2
ROSEMONT HOLDING     4391905Z LN  -34807182.85  158222622.5
ROSYTH ROYAL DOC     2184524Z LN  -51250390.37  170932412.7
ROYAL BANK LEASI     2177244Z LN  -96708288.01  12689075410
ROYAL MAIL HOLDI     3900202Z LN  -10344178409   9705181654
SAFFRON HOUSING      4448377Z LN    -3777866.1  124457507.9
SAMPFORD UNDERWR     1230791Z LN  -18964953.58  150532675.1
SCOTTISH MEDIA       1442Q GR     -36632758.71    143156965
SCOTTISH MEDIA       SSMR LN      -36632758.71    143156965
SCOTTISH MEDIA       SSM LN       -36632758.71    143156965
SCOTTISH TELEV       SCTVF US     -36632758.71    143156965
SCOTTISHPOWER EN     2211292Z LN  -388472480.2   2874992270
SCOTTS CO UK LTD     1154459Z LN  -31443592.79  119553562.6
SEGRO FINANCE PU     2320833Z LN  -1254907.484  270979842.3
SELWOOD HOUSING      1933982Z LN   -5609259.85  165098338.1
SETON HEALTHCARE     2290Z LN     -10585183.94  156822902.8
SEVERN VALE HOUS     4287717Z LN  -43910018.24  115584900.8
SFI GROUP PLC        SUF LN       -108067115.8  177647536.1
SFI GROUP PLC        SUYFF US     -108067115.8  177647536.1
SHEFFIELD UNITED     1275418Z LN  -17712590.52  101590746.2
SIMON CARVES LTD     1209367Z LN  -309426997.2  105356699.7
SKANDIA LIFE BUS     1451642Z LN  -1945833.316  191394739.6
SKYEPHARMA PLC       SKPEUR EU    -133034755.3  130464035.4
SKYEPHARMA PLC       SKP VX       -133034755.3  130464035.4
SKYEPHARMA PLC       SKP1 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP2 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SK8C GR      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP1 VX      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP7 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP6 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SKPGBP EO    -133034755.3  130464035.4
SKYEPHARMA PLC       SKP IX       -133034755.3  130464035.4
SKYEPHARMA PLC       SKP8 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP4 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP9 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP EO       -133034755.3  130464035.4
SKYEPHARMA PLC       SKP TQ       -133034755.3  130464035.4
SKYEPHARMA PLC       SKPEUR EO    -133034755.3  130464035.4
SKYEPHARMA PLC       SKP PZ       -133034755.3  130464035.4
SKYEPHARMA PLC       SKP10 EO     -133034755.3  130464035.4
SKYEPHARMA PLC       SKP3 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP5 EO      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP LN       -133034755.3  130464035.4
SKYEPHARMA PLC       SK8A GR      -133034755.3  130464035.4
SKYEPHARMA PLC       SKP PO       -133034755.3  130464035.4
SKYEPHARMA PLC       SKP EU       -133034755.3  130464035.4
SKYEPHARMA PLC       SKP BQ       -133034755.3  130464035.4
SKYEPHARMA PLC       SKYEF US     -133034755.3  130464035.4
SKYEPHARMA -SUB      2976665Z LN  -133034755.3  130464035.4
SKYEPHARMA-ADR       SKYE US      -133034755.3  130464035.4
SKYEPHARMA-ADR       SK8N GR      -133034755.3  130464035.4
SKYEPHARMA-ADR       SKYEY US     -133034755.3  130464035.4
SKYEPHARMA-ADR       AP80 LI      -133034755.3  130464035.4
SKYEPHARMA-ADR       SK8 GR       -133034755.3  130464035.4
SKYEPHARMA-ADR       SKYPY US     -133034755.3  130464035.4
SKYEPHAR-RTS F/P     SKPF VX      -133034755.3  130464035.4
SKYEPHAR-RTS F/P     SKPF LN      -133034755.3  130464035.4
SKYEPHAR-RTS N/P     SKPN LN      -133034755.3  130464035.4
SKYEPHAR-RTS N/P     SKPN VX      -133034755.3  130464035.4
SLP ENGINEERING      1855186Z LN   -32035150.2  111509874.7
SMG PLC              SMG PO       -36632758.71    143156965
SMG PLC              SMG LN       -36632758.71    143156965
SMG PLC-FUL PAID     SMGF LN      -36632758.71    143156965
SMG PLC-NIL PAID     SMGN LN      -36632758.71    143156965
SMITHS NEWS PLC      NWS2 EO      -96686010.48    285345604
SMITHS NEWS PLC      NWS1 EU      -96686010.48    285345604
SMITHS NEWS PLC      NWS2GBP EO   -96686010.48    285345604
SMITHS NEWS PLC      NWS8 EO      -96686010.48    285345604
SMITHS NEWS PLC      NWS13 EO     -96686010.48    285345604
SMITHS NEWS PLC      NWS S1       -96686010.48    285345604
SMITHS NEWS PLC      NWS2EUR EO   -96686010.48    285345604
SMITHS NEWS PLC      NWS7 EO      -96686010.48    285345604
SMITHS NEWS PLC      NWS10 EO     -96686010.48    285345604
SMITHS NEWS PLC      NWS11 EO     -96686010.48    285345604
SMITHS NEWS PLC      NWS2 EU      -96686010.48    285345604
SMITHS NEWS PLC      NWS2 TQ      -96686010.48    285345604
SMITHS NEWS PLC      SMWPF US     -96686010.48    285345604
SMITHS NEWS PLC      NWS2EUR EU   -96686010.48    285345604
SMITHS NEWS PLC      NWS IX       -96686010.48    285345604
SMITHS NEWS PLC      NWS4 EO      -96686010.48    285345604
SMITHS NEWS PLC      SMWPY US     -96686010.48    285345604
SMITHS NEWS PLC      NWS1GBP EO   -96686010.48    285345604
SMITHS NEWS PLC      NWS PZ       -96686010.48    285345604
SMITHS NEWS PLC      NWS9 EO      -96686010.48    285345604
SMITHS NEWS PLC      NWS12 EO     -96686010.48    285345604
SMITHS NEWS PLC      NWS LN       -96686010.48    285345604
SMITHS NEWS PLC      NWS VX       -96686010.48    285345604
SMITHS NEWS PLC      NWS1 BQ      -96686010.48    285345604
SMITHS NEWS PLC      NWS1 EO      -96686010.48    285345604
SMITHS NEWS PLC      NWS PO       -96686010.48    285345604
SMITHS NEWS PLC      NWS6 EO      -96686010.48    285345604
SMITHS NEWS PLC      NWS5 EO      -96686010.48    285345604
SONY COMPUTER EN     3893902Z LN  -527371383.9   1289099673
SONY DADC UK LTD     4007652Z LN  -758038.3706  131666251.9
SONY UNITED KING     1591658Z LN   -1219147829   2550391748
SOUTH STAFFORDSH     4049781Z LN  -12127094.81  148602864.7
SOUTHERN CROSS       SCHE2 EO     -456945463.9    226544692
SOUTHERN CROSS       SCHE PZ      -456945463.9    226544692
SOUTHERN CROSS       SCHEGBP EO   -456945463.9    226544692
SOUTHERN CROSS       SOCHF US     -456945463.9    226544692
SOUTHERN CROSS       SCHE3 EO     -456945463.9    226544692
SOUTHERN CROSS       SCHE EO      -456945463.9    226544692
SOUTHERN CROSS       SCH5 EO      -456945463.9    226544692
SOUTHERN CROSS       SCHEUSD EU   -456945463.9    226544692
SOUTHERN CROSS       SCHEUSD EO   -456945463.9    226544692
SOUTHERN CROSS       SCHE EU      -456945463.9    226544692
SOUTHERN CROSS       SCHE S1      -456945463.9    226544692
SOUTHERN CROSS       SCHE4 EO     -456945463.9    226544692
SOUTHERN CROSS       SCHE8 EO     -456945463.9    226544692
SOUTHERN CROSS       SCHE PO      -456945463.9    226544692
SOUTHERN CROSS       F2Z TH       -456945463.9    226544692
SOUTHERN CROSS       SCHE6 EO     -456945463.9    226544692
SOUTHERN CROSS       SCHE BQ      -456945463.9    226544692
SOUTHERN CROSS       SCH3 EO      -456945463.9    226544692
SOUTHERN CROSS       SCHE7 EO     -456945463.9    226544692
SOUTHERN CROSS       SCHE EB      -456945463.9    226544692
SOUTHERN CROSS       SCH4 EO      -456945463.9    226544692
SOUTHERN CROSS       SCHEEUR EU   -456945463.9    226544692
SOUTHERN CROSS       SCHE VX      -456945463.9    226544692
SOUTHERN CROSS       SCHE LN      -456945463.9    226544692
SOUTHERN CROSS       SCHE NQ      -456945463.9    226544692
SOUTHERN CROSS       SCHE IX      -456945463.9    226544692
SOUTHERN CROSS       SCHE TQ      -456945463.9    226544692
SOUTHERN CROSS       SCHEEUR EO   -456945463.9    226544692
SOUTHERN CROSS       SCHE NR      -456945463.9    226544692
SOUTHERN CROSS       F2Z GR       -456945463.9    226544692
SOUTHERN CROSS       SCHE QM      -456945463.9    226544692
SOUTHERN CROSS       SCHE5 EO     -456945463.9    226544692
SOUTHERN ELECTRI     2635379Z LN  -259913242.1   1437660480
SPEAR GROUP HOLD     4470999Z LN  -91133585.59  140447896.6
SPEEDY 1 LTD         3722238Z LN  -464739433.2   1384529500
SPEEDY SUPPORT S     1601730Z LN  -34304692.53  146096457.3
SPIRIT PUB CO PL     SPRT EU      -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT NR      -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT EO      -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT QM      -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT TQ      -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT IX      -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT BQ      -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT EB      -797310760.5   3657116792
SPIRIT PUB CO PL     S7I GR       -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT PZ      -797310760.5   3657116792
SPIRIT PUB CO PL     SPRT LN      -797310760.5   3657116792
SQUARE ENIX LTD      1826770Z LN  -223995033.8  278955082.2
SR TECHNICS UK L     2900250Z LN  -87572452.23  179843123.8
STAGECOACH SERVI     1584258Z LN  -27470918.93  305042241.9
STV GROUP PLC        STVG EU      -36632758.71    143156965
STV GROUP PLC        SMGPF US     -36632758.71    143156965
STV GROUP PLC        STVGGBP EO   -36632758.71    143156965
STV GROUP PLC        STVG LN      -36632758.71    143156965
STV GROUP PLC        SMG VX       -36632758.71    143156965
STV GROUP PLC        STVGEUR EU   -36632758.71    143156965
STV GROUP PLC        STVG VX      -36632758.71    143156965
STV GROUP PLC        SMG PZ       -36632758.71    143156965
STV GROUP PLC        STVG S1      -36632758.71    143156965
STV GROUP PLC        STVG EO      -36632758.71    143156965
STV GROUP PLC        STVGEUR EO   -36632758.71    143156965
STV GROUP PLC        SMG IX       -36632758.71    143156965
SUN CHEMICAL LTD     2569274Z LN  -21504458.55  276424178.5
SUNDERLAND ASSOC     1274418Z LN  -30559441.44  144949782.5
SUNSAIL LTD          1092666Z LN  -37047891.81  193976501.7
SW NO 1 LTD          1266351Z LN  -127509303.4  140986934.8
SWIFT TECHNICAL      4287133Z LN  -34723772.77  138665319.9
TATA CMMNCTNS UK     2534722Z LN  -32378969.15  118690215.5
TDL INFOMEDIA        3362Z LN     -25723860.05  136762955.6
TELEWEST COM-ADR     TWSTD US      -3702234581   7581020925
TELEWEST COM-ADR     TWT$ LN       -3702234581   7581020925
TELEWEST COM-ADR     TWSTY US      -3702234581   7581020925
TELEWEST COM-ADR     940767Q GR    -3702234581   7581020925
TELEWEST COMM        TWSTF US      -3702234581   7581020925
TELEWEST COMM        715382Q LN    -3702234581   7581020925
TELEWEST COMM        TWT VX        -3702234581   7581020925
TELEWEST COMM        604296Q GR    -3702234581   7581020925
TELEWEST COMMUNI     1646328Z LN  -322407498.9  794173871.1
TELEWEST COMMUNI     1608194Z LN  -459786702.9   9163459022
THALES CORPORATE     1083706Z LN  -39356881.83  696177878.8
THAMES WATER FIN     1615Z LN     -48749918.54   4474513723
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
TIGER ASPECT PRO     1819690Z LN   -1811042.92  108420699.7
TIMES NEWSPAPERS     2343939Z LN  -653746579.6  603467606.2
TOPPS TILES PLC      TPT5 EO      -37156577.81  134888367.5
TOPPS TILES PLC      TPT3 EO      -37156577.81  134888367.5
TOPPS TILES PLC      TPT LN       -37156577.81  134888367.5
TOPPS TILES PLC      TPT VX       -37156577.81  134888367.5
TOPPS TILES PLC      TPTJY US     -37156577.81  134888367.5
TOPPS TILES PLC      TPT6 EO      -37156577.81  134888367.5
TOPPS TILES PLC      TPTJF US     -37156577.81  134888367.5
TOPPS TILES PLC      TPT7 EO      -37156577.81  134888367.5
TOPPS TILES PLC      TPT PO       -37156577.81  134888367.5
TOPPS TILES PLC      TPT S1       -37156577.81  134888367.5
TOPPS TILES PLC      TPT EO       -37156577.81  134888367.5
TOPPS TILES PLC      TPT4 EO      -37156577.81  134888367.5
TOPPS TILES PLC      TPT2 EO      -37156577.81  134888367.5
TOPPS TILES PLC      TPT1 EO      -37156577.81  134888367.5
TOPPS TILES PLC      TPT TQ       -37156577.81  134888367.5
TOPPS TILES PLC      TPTEUR EU    -37156577.81  134888367.5
TOPPS TILES PLC      TPTGBP EO    -37156577.81  134888367.5
TOPPS TILES PLC      TPT9 EO      -37156577.81  134888367.5
TOPPS TILES PLC      TPT10 EO     -37156577.81  134888367.5
TOPPS TILES PLC      TPT IX       -37156577.81  134888367.5
TOPPS TILES PLC      TPTEUR EO    -37156577.81  134888367.5
TOPPS TILES PLC      TPT PZ       -37156577.81  134888367.5
TOPPS TILES PLC      TPT EU       -37156577.81  134888367.5
TOPPS TILES PLC      TPT BQ       -37156577.81  134888367.5
TOPPS TILES PLC      TPT8 EO      -37156577.81  134888367.5
TOPPS TILES-NEW      TPTN LN      -37156577.81  134888367.5
TOTAL UK LTD         3897130Z LN  -61225906.13   2907445594
TRAVELEX HOLDING     2917958Z LN   -1298945101   2546701094
TRAVELODGE LTD       3471462Z LN  -515411329.9   1254613472
TRINITY MIRROR C     1871386Z LN  -53485246.17  204376308.9
TRINITY MIRROR M     1871370Z LN  -140843056.8  448783505.1
TRINITY MIRROR P     1511258Z LN  -123528659.2  920027091.7
TRINITY MIRROR S     1512242Z LN  -3205761.051  531281737.1
TSE DEVELOPMENT      2087531Z LN  -297696548.3  510522326.8
TUBE LINES FINAN     1241207Z LN  -2914999.962   2408518672
TUI UK LTD           1653824Z LN  -913811298.8   5088088830
TYCO HEALTHCARE      1066794Z LN   -13601743.4    333686519
UNIGATE PLC          UNIG LN      -34143742.45  284687094.6
UNIGATE PLC          1577Q GR     -34143742.45  284687094.6
UNIGATE PLC          UNGAF US     -34143742.45  284687094.6
UNIGATE PLC          UNGPF US     -34143742.45  284687094.6
UNIGATE PLC-ADR      UNGAY US     -34143742.45  284687094.6
UNILEVER UK CENT     1273034Z LN   -1928848885   6056871052
UNIQ PLC             UNIQEUR EU   -34143742.45  284687094.6
UNIQ PLC             UNIQEUR EO   -34143742.45  284687094.6
UNIQ PLC             UNIQ PO      -34143742.45  284687094.6
UNIQ PLC             UGE1 GR      -34143742.45  284687094.6
UNIQ PLC             UNIQ EO      -34143742.45  284687094.6
UNIQ PLC             UNIQGBP EO   -34143742.45  284687094.6
UNIQ PLC             UNIQ LN      -34143742.45  284687094.6
UNIQ PLC             UNIQ EU      -34143742.45  284687094.6
UNIQ PLC             UNIQF US     -34143742.45  284687094.6
UNIQ PLC             UNIQ PZ      -34143742.45  284687094.6
UNIQ PLC             UNIQ IX      -34143742.45  284687094.6
UNIQ PLC             UNQPF US     -34143742.45  284687094.6
UNIQ PLC             UGE GR       -34143742.45  284687094.6
UNIQ PLC             UNIQ VX      -34143742.45  284687094.6
UNIQ PLC-ASSD        UNIA LN      -34143742.45  284687094.6
UNIQ PREPARED FO     1077122Z LN    -120661558  355622471.3
UNITED BISCUITS      3193858Z LN  -326896245.3   3316769414
UNIVERSAL LEASIN     2581586Z LN  -28690420.23  155128729.2
UNIVERSAL PICTUR     1083202Z LN  -66200436.83  242851864.9
UPS LTD              1503290Z LN  -128358198.9  422072199.6
UTC GROUP            UGR LN       -11904428.42    203548565
VALE OF AYLESBUR     4006932Z LN  -73416860.01  100856530.6
VANCO UK LTD         2784982Z LN     -56556541  114635709.2
VINK HOLDINGS LT     4380233Z LN  -13477348.26  132005020.2
VIRGIN HOTELS GR     4288389Z LN  -30191249.31  109995632.6
VIRGIN MOB-ASSD      VMOC LN      -392165409.3  166070003.7
VIRGIN MOB-ASSD      VMOA LN      -392165409.3  166070003.7
VIRGIN MOBILE        VMOB VX      -392165409.3  166070003.7
VIRGIN MOBILE        VMOB PO      -392165409.3  166070003.7
VIRGIN MOBILE        VMOB LN      -392165409.3  166070003.7
VIRGIN MOBILE        VGMHF US     -392165409.3  166070003.7
VIRGIN MOBILE        UEM GR       -392165409.3  166070003.7
VIRGIN WINGS LTD     4500155Z LN  -410616776.7   5155268566
VODAFONE UK CONT     1909662Z LN  -36036445.35  241077469.5
VOYAGE GROUP LTD     4168725Z LN  -89543682.76    572205624
WALES & WEST UTI     3688061Z LN  -784167196.7   2080276139
WARNER ESTATE        WNER PO      -17991567.99  433564660.8
WARNER ESTATE        WNER PZ      -17991567.99  433564660.8
WARNER ESTATE        WNER LN      -17991567.99  433564660.8
WARNER ESTATE        WNER EO      -17991567.99  433564660.8
WARNER ESTATE        WNERGBP EO   -17991567.99  433564660.8
WARNER ESTATE        WNER VX      -17991567.99  433564660.8
WARNER ESTATE        WNEHF US     -17991567.99  433564660.8
WARNER ESTATE        WRL GR       -17991567.99  433564660.8
WARNER ESTATE        WNER EU      -17991567.99  433564660.8
WARNER ESTATE        WNER IX      -17991567.99  433564660.8
WARNER MUSIC UK      1075906Z LN  -30035535.27  103148268.1
WATSON & PHILIP      WTSN LN        -120493900  252232072.9
WEAVER VALE HOUS     3953220Z LN  -60271595.72  104022836.2
WEETABIX LTD-A       WEEBF US     -397652099.9  909970808.9
WEETABIX LTD-A       WTB OF       -397652099.9  909970808.9
WESCOT TOPCO LTD     4007020Z LN  -28467510.91    115035189
WEST HAM UNITED      1275834Z LN  -60233495.23  174701255.1
WESTBURY HOTEL L     1214607Z LN  -541051.7845  357290768.3
WHELCO HOLDINGS      2741744Z LN  -1295249.714    100781831
WHITE YOUNG GREE     WHY EO       -32392901.23  196106689.5
WHITE YOUNG GREE     WHYEUR EO    -32392901.23  196106689.5
WHITE YOUNG GREE     WHYGBP EO    -32392901.23  196106689.5
WHITE YOUNG GREE     WHYEUR EU    -32392901.23  196106689.5
WHITE YOUNG GREE     WHY LN       -32392901.23  196106689.5
WHITE YOUNG GREE     WHY VX       -32392901.23  196106689.5
WHITE YOUNG GREE     WHY PZ       -32392901.23  196106689.5
WHITE YOUNG GREE     WHY PO       -32392901.23  196106689.5
WHITE YOUNG GREE     WHY EU       -32392901.23  196106689.5
WHITE YOUNG-NEW      WHYN LN      -32392901.23  196106689.5
WIGHTLINK LTD        1385642Z LN  -15131435.92  231775265.6
WINCANTON PL-ADR     WNCNY US     -171883729.9   1378925175
WINCANTON PLC        WIN4 EO      -171883729.9   1378925175
WINCANTON PLC        WIN1EUR EO   -171883729.9   1378925175
WINCANTON PLC        WIN1 EO      -171883729.9   1378925175
WINCANTON PLC        WIN PZ       -171883729.9   1378925175
WINCANTON PLC        WIN1GBP EO   -171883729.9   1378925175
WINCANTON PLC        WIN1 EB      -171883729.9   1378925175
WINCANTON PLC        WIN7 EO      -171883729.9   1378925175
WINCANTON PLC        WIN12 EO     -171883729.9   1378925175
WINCANTON PLC        WIN IX       -171883729.9   1378925175
WINCANTON PLC        WIN1 NQ      -171883729.9   1378925175
WINCANTON PLC        WIN1 EU      -171883729.9   1378925175
WINCANTON PLC        WIN6 EO      -171883729.9   1378925175
WINCANTON PLC        WIN11 EO     -171883729.9   1378925175
WINCANTON PLC        WIN8 EO      -171883729.9   1378925175
WINCANTON PLC        WIN1 TQ      -171883729.9   1378925175
WINCANTON PLC        WIN9 EO      -171883729.9   1378925175
WINCANTON PLC        WIN10 EO     -171883729.9   1378925175
WINCANTON PLC        WIN13 EO     -171883729.9   1378925175
WINCANTON PLC        WIN1 BQ      -171883729.9   1378925175
WINCANTON PLC        WIN1USD EO   -171883729.9   1378925175
WINCANTON PLC        WIN1 S1      -171883729.9   1378925175
WINCANTON PLC        WIN LN       -171883729.9   1378925175
WINCANTON PLC        WIN VX       -171883729.9   1378925175
WINCANTON PLC        WIN1 QM      -171883729.9   1378925175
WINCANTON PLC        WIN5 EO      -171883729.9   1378925175
WINCANTON PLC        WIN1USD EU   -171883729.9   1378925175
WINCANTON PLC        WIN PO       -171883729.9   1378925175
WINCANTON PLC        WIN1EUR EU   -171883729.9   1378925175
WINCANTON PLC        WNCNF US     -171883729.9   1378925175
WINDSOR TELEVISI     1475394Z LN  -232297665.7  340517582.8
WINTERTHUR FINAN     1353474Z LN   -5097471.01    146472274
WYG PLC              WYG2 EO      -32392901.23  196106689.5
WYG PLC              WYG5 EO      -32392901.23  196106689.5
WYG PLC              WYG3 EO      -32392901.23  196106689.5
WYG PLC              WYG6 EO      -32392901.23  196106689.5
WYG PLC              WYG EU       -32392901.23  196106689.5
WYG PLC              WYGGBP EO    -32392901.23  196106689.5
WYG PLC              WYG4 EO      -32392901.23  196106689.5
WYG PLC              WYG7 EO      -32392901.23  196106689.5
WYG PLC              WYG8 EO      -32392901.23  196106689.5
WYG PLC              WHY IX       -32392901.23  196106689.5
WYG PLC              WYG PZ       -32392901.23  196106689.5
WYG PLC              WYG EO       -32392901.23  196106689.5
WYG PLC              WYG1 EO      -32392901.23  196106689.5
WYG PLC              WYGEUR EU    -32392901.23  196106689.5
WYG PLC              WYG LN       -32392901.23  196106689.5
WYG PLC              WYGEUR EO    -32392901.23  196106689.5
XAARJET LTD          2697648Z LN  -3938911.173  102239864.3
XCHANGING UK LTD     1814130Z LN  -33399235.51  334395990.3
XSTRATA SERVICES     1975918Z LN  -88056666.54    169405671
YANG MING UK LTD     1756777Z LN  -39140424.52  296076088.5
YARLINGTON HOUSI     4435313Z LN  -18443811.91  276648958.8
YOUNG'S BLUECRES     1841386Z LN  -46554226.38  279057376.4
ZURICH EMPLOYMEN     1292298Z LN  -122911831.6  159138559.6


                            *********

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

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than US$3 per
share in public markets.  At first glance, this list may look
like the definitive compilation of stocks that are ideal to sell
short.  Don't be fooled.  Assets, for example, reported at
historical cost net of depreciation may understate the true value
of a firm's assets.  A company may establish reserves on its
balance sheet for liabilities that may never materialize.  The
prices at which equity securities trade in public market are
determined by more than a balance sheet solvency test.

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

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


                            *********


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

Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland
USA.  Valerie U. Pascual, Marites O. Claro, Rousel Elaine T.
Fernandez, Joy A. Agravante, Psyche A. Castillon, Julie Anne G.
Lopez, Ivy B. Magdadaro, Frauline S. Abangan and Peter A. Chapman,
Editors.

Copyright 2011.  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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