TCREUR_Public/120430.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

             Monday, April 30, 2012, Vol. 13, No. 85

                            Headlines



A U S T R I A

WIENERBERGER AG: Moody's Lowers CFR to 'Ba2'; Outlook Stable


C Z E C H   R E P U B L I C

CENTRAL EUROPEAN: S&P Lowers Corporate Credit Rating to 'B-'


D E N M A R K

* DENMARK: IMF Says Bail-Ins Create Contagion, Mulls Options


F R A N C E

FAURECIA SA: Moody's Affirms 'Ba3' CFR; Outlook Positive


G E R M A N Y

FRESENIUS SE: Moody's Reviews Ba1 Rating for Possible Downgrade
FRESENIUS SE: Fitch Affirms 'BB+' LT Issuer Default Ratings
SEB IMMOINVEST: May Face Liquidation; Needs Cash to Meet Orders


I R E L A N D

ALLIED IRISH: Incurs EUR2.3 Billion Loss in 2011
AVOCA CLO IV: S&P Raises Rating on Class N Combo Notes to 'CCC+'


L U X E M B O U R G

PSB FINANCE: Fitch Assigns 'BB-' Rating to US$400 Million Notes


R O M A N I A

PIRITEX: Declared Insolvent; To Enter Reorganization Process


R U S S I A

MEGAFON OAO: Fitch Affirms Issuer Default Ratings at 'BB+'
VIMPELCOM LTD: S&P Affirms 'BB' Corporate Credit Ratings


T U R K E Y

EUROBANK TEKFEN: Moody's Issues Correction to Ratings Release
TURKIYE VAKIFLAR: Moody's Assigns 'Ba1' Sr. Unsecured Debt Rating


U N I T E D   K I N G D O M

BETSEY JOHNSON: Enters Bankruptcy in the U.S.
BETSEY JOHNSON: Case Summary & 30 Largest Unsecured Creditors
CLINTON CARDS: Explores Options After Failed Sale Attempts
PORTSMOUTH FOOTBALL: PKF to Form Part of Creditors' Committee
PRITCHARD GROUP: In Administration, Units Trading as Usual

RANGERS FOOTBALL: Brian Kennedy, Blue Knights Make Joint Bid


X X X X X X X X

* S&P's 2012 Global Corporate Default Tally Rises to 29
* BOND PRICING: For the Week April 23 to April 27, 2012


                            *********


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A U S T R I A
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WIENERBERGER AG: Moody's Lowers CFR to 'Ba2'; Outlook Stable
------------------------------------------------------------
Moody's Investors Services has downgraded the Probability of
Default and Corporate Family ratings of Wienerberger AG by one-
notch to Ba2. Concurrently, Moody's has downgraded the rating on
Wienerberger's EUR500 million subordinated notes to B1 and the
rating on the group's senior unsecured Medium Term Notes to Ba2.
The outlook on all ratings is stable. This concludes Moody's
review for possible downgrade initiated on February 17, 2012.

Ratings Rationale

The downgrade of Wienerberger's Corporate Family rating reflects
the group's weak credit metrics for the current Ba1 rating
category with RCF/Net debt of 17.6% at fiscal year-end 2011 versus
expectations of close to 20% for the current rating category,
especially taking into account the fact that 2011 was possibly a
peak or close-to-peak year in the current economic cycle. The
downgrade to Ba2 also reflects Wienerberger's exposure to the
highly volatile markets of new residential construction , a low,
albeit recently improved interest coverage as measured by
EBIT/Interest of 1.3x per end of 2011, and the group's weak
profitability as measured by EBIT / Average Assets and if compared
to most European peers in the building materials industry. Moody's
expects that trading conditions over the next twelve to eighteen
months will be challenging as a result of continued sovereign
tensions and declining consumer confidence. Wienerberger will also
face relatively strong comparatives going into 2012 in certain
markets such as Germany, France and Poland, which could make it
difficult to improve credit metrics further in 2012.

At the same time Wienerberger will close the debt-financed
acquisition of a 50% stake in Pipelife (Wienerberger currently
owns 50% of Pipelife) for a cash consideration of EUR162 million
(plus EUR10 million of dividends to be paid to Solvay, the
seller). Wienerberger will consolidate EUR71 million of net
indebtedness at Pipelife (no change of control triggered by
acquisitions through core shareholder). The acquisition of
Pipelife makes strategic sense and will support the group's
efforts to diversify away from the cyclical new residential
construction markets. Despite being debt-financed the acquisition
of Pipelife will have only limited impact on the credit metrics of
the group given the low leverage of Pipelife on a standalone basis
and the fact that Wienerberger only has to acquire 50% of Pipelife
to be able to fully consolidate this entity. The consolidation of
Pipelife will be ROCE accretive and will help Wienerberger restore
a stronger ROCE.

Wienerberger has a solid liquidity profile. The group had EUR504
million of cash on balance sheet at December 31, 2011 and EUR250
million availability under the group's revolving credit
facilities. Wienerberger has issued EUR200 million of bonds in Q1
2012, the proceeds of which have been received beginning of
February. The group's internal and external liquidity sources
should be more than sufficient to fund the acquisition price of
EUR172 million (EUR70 million of net indebtedness will not have to
be refinanced), to cover EUR452 million of maturities over the
next twelve months and to cover other cash needs over the next
twelve months (mainly capex, working capital, dividends and
working cash). Moody's also notes that Wienerberger has ample
headroom under its financial covenants even pro-forma of the
acquisition of Pipelife.

Wienerberger will be comfortably positioned in the Ba2 rating
category pro-forma of the acquisition of Pipelife. A stronger
market recovery than currently anticipated coupled with a
conservative financial policy leading to sustained positive free
cash flow generation as well an improvement in RCF/Net debt
towards 20% and EBIT / Interest towards 2.0x could lead to a
rating upgrade over time.

A sharp deterioration in market conditions leading to materially
negative free cash flow generation and RCF/Net debt (pro-forma of
the acquisition of Pipelife) dropping sustainably below 15% would
exert negative pressure on Wienerberger's rating. EBIT / Interest
dropping below 1.0x would also exert negative pressure on the
ratings.

The principal methodology used in rating Wienerberger AG was the
Global Building Materials Industry Methodology published in
July 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.

Headquartered in Vienna, Austria, Wienerberger AG is the world's
largest brick manufacturer and Europe's largest producer of clay
roof tiles. The group produces bricks, clay roof tiles, pavers and
clay and plastic pipes in 230 plants and operates in 27 countries
worldwide and five export markets. The company's main markets are
North America (7% of 2011sales), Central-West Europe (22% of 2011
sales), North-West Europe (40% of 2011 sales), and Central-East
Europe (29% of 2011 sales). Wienerberger generated revenues of
EUR2.0 billion in fiscal year 2011.


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C Z E C H   R E P U B L I C
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CENTRAL EUROPEAN: S&P Lowers Corporate Credit Rating to 'B-'
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on Bermuda-registered emerging markets TV
broadcaster Central European Media Enterprises Ltd. (CME) to 'B-'
from 'B'. The outlook is negative.

"We are also lowering to 'B-' from 'B' the issue rating on the
EUR170 million senior secured notes due 2017 issued by CME's
subsidiary CET 21 spol.s.r.o. (CET 21; not rated), in line with
the corporate credit rating on CME. At the same time, we are
lowering to 'CCC+' from 'B-' the issue ratings on CME's $130
million senior secured convertible notes due 2013, EUR375 million
notes due 2016, and EUR148 million notes due 2014," S&P said.

"The downgrades mainly reflect our view that CME could have
difficulties repaying its US$130 million debt maturity due in
March 2013, as well as its EUR148 million bond due in May 2014,"
S&P said.

"As a result, we have revised our assessment of CME's liquidity to
'less than adequate' from 'adequate.' Our assessment mainly takes
into account CME's US$187 million of cash balances at year-end
2011, its sole source of available funding; potential volatility
in the U.S. dollar-denominated and non-hedged debt against the
local currencies in which it collects revenues; uncertain
prospects for positive free cash flow generation; and the need to
maintain some cash on balance sheet to fund working capital. In
addition, given the group's poor history of free cash flow
generation and its persistently high leverage, we believe CME
could face significant challenges in accessing capital markets in
the short term to refinance its 2013 and 2014 maturities," S&P
said.

"The negative outlook reflects our view that CME may not be able
to meet its upcoming 2013 bond maturity. It also incorporates our
opinion that the group will face difficulties refinancing this
maturity over the coming months, and that any debt restructuring
plan, if considered, could be viewed as tantamount to a default
under our criteria," S&P said.

"Downward rating pressure could arise if CME's liquidity does not
improve over the next few quarters. Similarly, any debt
restructuring plans could result in a rating downgrade," S&P said.

"We could revise the outlook to stable if the company is able to
significantly improve its liquidity position over the next few
quarters, including having a credible plan to meet its 2013 and
2014 maturities without implementing any debt restructuring
actions that we could view as detrimental to bondholders.
An outlook revision would also depend on the group's ability to
preserve sizable on-balance-sheet cash as a buffer for any
possible shortfalls in cash flow generation," S&P said.


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D E N M A R K
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* DENMARK: IMF Says Bail-Ins Create Contagion, Mulls Options
------------------------------------------------------------
Frances Schwartzkopff at Bloomberg News reports that fourteen
months after pushing losses on to senior creditors with the
failure of Amagerbanken A/S, Denmark is freeing itself of the
bail-in stigma that shut most of its banks out of international
funding markets.

Legislation passed in October 2010 requiring burden sharing has
since been superseded by two bills subsidizing mergers for
troubled lenders, Bloomberg notes.  Three insolvent banks resorted
to the merger package in the last six months, and Denmark hasn't
had a bail-in since the June failure of Fjordbank Mors A/S,
Bloomberg discloses.

"The fact that we have for the last three times found a solution
to avoid losses to senior creditors is a sign that there is a
substantial probability that we can do it again," Bloomberg quotes
Henrik Bjerre-Nielsen, chief executive officer of the state
resolution agency known as Financial Stability Co., as saying in a
phone interview.  Mr. Bjerre-Nielsen, as cited by Bloomberg, said
that bail-ins are an "inferior solution".

Denmark's efforts to avoid more bail-ins coincide with European
Union discussions on the merits of introducing burden sharing
across the region, Bloomberg sates.

According to Bloomberg, the International Monetary Fund said in an
April 24 discussion paper that while bail-ins can help align
funding costs with risks and break "negative feedback loops"
between sovereigns and banks, the model may inflict financial
system shocks if deployed clumsily.

"The process we've been through in Denmark shows it's dangerous to
push legislation like this in the middle of a crisis," Jesper
Berg, a senior vice president at Copenhagen-based Nykredit A/S who
helped write Denmark's bail-in model while working at the central
bank, as cited by Bloomberg, said in a phone interview.

Mr. Berg said that the authors had envisaged the rules taking
effect only after calm was restored to financial markets,
Bloomberg.

Enforcing bail-ins mid-crisis "creates contagion," Bloomberg quote
Mr. Berg as saying.  "The Danish authorities have wisely taken a
step back and gone for a more cooperative approach that avoids
losses to senior creditors."

Denmark's parliament has introduced two bank rescue packages since
September to help the industry sidestep its bail- in legislation,
Bloomberg recounts.

Michel Barnier, the EU's financial services chief, said last month
he'll aim to present a draft law on winding down failed banks,
including plans for creditor writedowns, by a meeting of Group of
20 leaders in June, Bloomberg relates.

"It's wise of the European Commission to be tip-toeing around this
subject as long as the crisis persists in Europe," Mr. Berg, as
cited by Bloomberg, said.

Denmark's banks are still struggling to emerge from a burst real
estate bubble that has eroded farming, building and housing
portfolios, Bloomberg notes.

The Financial Supervisory Authority and the Financial Stability
Co. are urging Denmark's troubled lenders to make use of the
consolidation packages or risk shutting themselves out of funding
markets again, Bloomberg says.  According to Bloomberg,
Mr. Bjerre-Nielsen said that the bail-in legislation is a powerful
tool in impelling lenders to team up in mergers.

"I think the whole banking industry knows that if there is no
other solution, it will have to go down that route," Bloomberg
quotes Mr. Bjerre-Nielsen as saying.


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F R A N C E
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FAURECIA SA: Moody's Affirms 'Ba3' CFR; Outlook Positive
--------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 Corporate Family
Rating ("CFR") of Faurecia S.A. Concurrently, Moody's has assigned
a B2(LGD6-93%) rating to the EUR 250 million worth of Senior Notes
proposed by Faurecia S.A. The outlook on the ratings is positive.

Ratings Rationale

Faurecia's Ba3 CFR is strongly positioned in the Ba3 rating
category based on 2011 credit metrics and revenues for Q1 2012
suggest that the group could maintain its positive momentum
despite challenging market conditions in Europe. The positive
outlook reflects the possibility of an upgrade should Faurecia be
able to maintain credit metrics close to 2011 levels in future.
However, an upgrade over the course of 2012 seems rather unlikely
given the currently difficult macroeconomic environment for the
European automotive industry.

The proposed senior notes worth EUR250 million constitute senior
unsecured obligations of the issuer Faurecia S.A. The issuer is
the parent company of Faurecia group and a holding company. It
does not own or operate tangible assets and therefore relies on
funds provided by its operating subsidiaries to service its
financial obligations. The B2 rating reflects the structural
subordination of the proposed notes to the financial obligations
of Faurecia S.A.'s operating subsidiaries including financial
debt, trade payables and pensions, as well as to the EUR490
million of guaranteed notes and the EUR1,150 million revolving
credit facility issued by Faurecia S.A. which benefit from
upstream guarantees of operating subsidiaries representing
approximately 75% of group EBITDA. Faurecia will use the proceeds
of the notes issue to reduce outstanding amounts under the EUR
1,150 million revolving credit facility.

In 2011, Faurecia generated revenues of EUR16.2 billion (2010:
EUR13.8 billion) and EUR651 million of reported Operating Income
(2010: EUR456 million). On a Moody's adjusted basis debt/EBITDA
was 3.1x and the EBIT-margin was 3.5%. Despite the positive
earnings development Free Cash Flow was slightly negative due to a
substantial increase in capex, higher working capital and dividend
payments of EUR53 million.

In the first quarter of 2012, Faurecia reported revenue growth of
8% compared to 2011 and achieved consolidated sales of EUR4,297
million. Excluding effects from changes in foreign exchange rates
and the scope of consolidation revenue growth was 6%. Growth was
achieved primarily outside the currently challenging European car
market. However, Moody's positively notes that Faurecia was able
to limit the revenue decline in its European home market to 2%
whereas light vehicle production in the region shrank by 4%.
Moody's believes that this resilience also owes to Faurecia's
improving diversification within Europe as Volkswagen has replaced
PSA as the group's largest customer and thus reduced its exposure
to the currently particularly weak markets in Southern Europe.
Outside Europe Faurecia reported solid revenue growth outpacing
the growth of regional light vehicle production.

Management confirmed its full year guidance with the Q1 2012
revenue announcement on April 24, i.e. Faurecia's target remains
to achieve revenues of EUR16.3-16.7 billion and Operating Income
of EUR610-670 million in 2012. As the macroeconomic environment
remains weak, Moody's expects a further decline in European light
vehicle production volumes in the coming quarters. Hence, Moody's
considers Faurecia's targets to be challenging. However, Moody's
acknowledges Faurecia's evidenced ability to outperform global
light vehicle in the recent past. Moody's further notes that
profitability and financial ratios on a Moody's adjusted basis
will be burdened by higher capitalized development costs which
management expects to peak at approximately EUR250 million in 2012
(2011: EUR179 million).

Moody's views Faurecia's relation with majority shareholder
Peugeot S.A. (PSA) (rated Ba1, negative outlook), whose credit
profile has recently weakened, as largely rating neutral at this
stage. This view (i) is based on Moody's understanding that PSA
intends to remain a strategic shareholder but is willing to accept
a dilution of its shareholding in Faurecia (e.g. in case of M&A
activity financed by new shares), (ii) considers that Faurecia's
existing credit agreements place limits on the payment of
dividends and the incurrence of additional debt and (iii) reflects
Moody's expectation that financing arrangements of Faurecia and
PSA remain separated in future.

The positive rating outlook reflects that 2011 results were
overall already in line with credit metrics commensurate with a
Ba2 rating. A rating upgrade over the next 12-15 months is
possible should Faurecia manage to achieve (i) EBIT-margins of 3%
or higher, (ii) positive Free Cash Flow generation, and (iii) a
debt/EBITDA ratio below 3.5x over the cycle on a sustainable
basis.

The Ba3 rating is based on Moody's view that Faurecia will be able
to maintain recent improvements in its financial ratios and
sustainably achieve EBIT-margins of at least 2% and debt/EBITDA
close to 4x or lower on a Moody's adjusted basis. Pressure on the
rating would arise in case of a deterioration in earnings and cash
flow generation reflected in recurring negative Free Cash Flow or
EBIT-margins below 2%. In addition, pressure on the rating could
evolve should debt/EBITDA rise again materially above 4x.

As of December 2011, Faurecia had a sizeable cash position of
EUR630 million and available commitments with a maturity of more
than one year of EUR660 million under its existing core credit
facility. However, the company also had sizeable short-term debt
maturities (EUR616 million) and off-balance sheet short-term
factoring activities (EUR462 million). Moody's views positively
that Faurecia was able to rely on its relationship banks during
the 2009 recession and also that according to management data its
factoring arrangements worked well also in the middle of the
industry downturn. Given Faurecia's EUR140 million notes issue in
February 2012, Moody's considers the group's liquidity profile to
be adequate should the proposed notes worth EUR250 million be
placed successfully. Moody's notes that Faurecia's core credit
facilities also contain conditionality language in the form of
financial covenants.

The principal methodology used in rating Faurecia S.A. was the
Global Automotive Supplier Industry Methodology published in
January 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.

Headquartered in Paris, France, Faurecia group is one of the
world's largest automotive suppliers for seats, exhaust systems,
exteriors and interiors. In 2011, group revenues amounted to
EUR16.2 billion. The group operates along four divisions:
Automotive Seating, Interior Systems, Emission Control
Technologies and Automotive Exteriors. The parent company,
Faurecia S.A., is a holding company which directly and indirectly
provides financial, accounting, general management and
administrative services to the group. Faurecia S.A. is listed on
the Paris stock exchange. The largest shareholder is PSA Peugeot
Citro‰n with a 57% shareholding. The remaining shares are in free
float.


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G E R M A N Y
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FRESENIUS SE: Moody's Reviews Ba1 Rating for Possible Downgrade
---------------------------------------------------------------
Moody's Investors Service has placed Fresenius SE & Co. KGaA's
("FSE") Ba1 corporate family rating and the Ba1 (unsecured
bond)/Baa3 (secured bank) instrument ratings for its debt-issuing
finance subsidiaries on review for possible downgrade. The ratings
for Fresenius Medical Care AG & Co. KGaA and its subsidiaries are
not impacted by the rating action.

Ratings Rationale

The rating review follows FSE's launch of a tender offer for all
outstanding shares of Rhoen-Klinikum AG (RK, currently rated
Baa2), a publicly listed German private hospital operator and a
competitor to FSE's Helios subsidiary. "The review of the Ba1
rating primarily reflects the expected material increase in
leverage of FSE, should the minimum 90% of RK's shares get
tendered" explains Alex Verbov, Moody's lead analyst for FSE. The
transaction value of estimated EUR4 billion including transaction
costs is expected to be largely (around 75% of total
consideration) debt financed. At EUR22.5 per share, the tender
represents over 50% premium over the recent share price of RK and
including debt to be refinanced values RK at over 11x 2011 EBITDA.

RK is a leading private hospital operator with 2011 reported sales
and EBITDA of EUR2.63 billion and EUR337 m respectively. The
transaction would effectively double the scale of Helios
operations (2011 sales EUR2,67 billion and EBITDA of EUR369
million) and is expected to generate sizeable synergies, making
the combined entity by far the largest private hospital operator
in Germany.

The rating review will focus on (i) the impact of the transaction
on FSE's overall business profile, (ii) the magnitude of financial
metric deterioration and the time required to return to a more
sustainable leverage, (iii) the scope of synergies and likely
restructuring costs, (iv) changes in the overall debt capital mix
structure and split between secured and unsecured funding, and (v)
FSE's short-term liquidity profile going forward.

As indicated in Moody's analysis on December 2011 the ratings
could be subject to downwards pressure if Fresenius' leverage
metrics weaken as exemplified by a debt/EBITDA exceeding 4.0x or
CFO to debt falling towards the low teens. Large debt financed
acquisitions or negative free cash flows, materially reducing the
prospect of deleveraging could also be drivers of a downward
rating migration. There is a high likelihood that the RK
transaction will trigger these ratios, if the offer is successful,
hence the review for downgrade.

Given the continued growth aspirations of FSE, a rating upgrade is
very unlikely.

The methodologies used in these ratings were Global Healthcare
Service Providers published in December 2011, and Loss Given
Default for Speculative-Grade Non-Financial Companies in the U.S.,
Canada and EMEA published in June 2009.


FRESENIUS SE: Fitch Affirms 'BB+' LT Issuer Default Ratings
-----------------------------------------------------------
Fitch Ratings has affirmed Germany-based healthcare group
Fresenius SE & Co KGaA's (FSE) and Fresenius Medical Care AG & Co.
KGaA's (FMC) Long-term Issuer Default Ratings (IDR) at 'BB+' and
instrument ratings.  The Short-term IDRs have been affirmed at
'B'.  The rating Outlooks are Stable.

The affirmation follows FSE's announcement that it is acquiring
Rhoen-Klinikum AG for a total acquisition price of EUR3.9 billion,
including repayment of Rhoen-Klinikum's debt equating to 11.6x
Rhoen-Klinikum's 2011 EBITDA of EUR338 million or 11x based on its
forecasted 2012 EBITDA of EUR350 million.  The transaction, which
is planned to be approximately 75% debt-funded, is dependent on
90% of Rhoen-Klinikum's shareholders acceptance.

"The acquisition of Rhoen-Klinikum, if successful, will enhance
Fresenius' business profile, although initially leading to ratios
outside the leverage range for a 'BB+' rating," says Britta Holt,
a Director in Fitch's Corporate team.  "The Stable Outlook
reflects Fitch's expectations of Fresenius' willingness and
ability to maintaining net debt/EBITDA in the range of 2.5x-3x in
the medium term, which corresponds to a lease-adjusted net
debt/EBITDAR of 3.3x-3.7x," adds Holt.  According to Fitch's
calculations, this range will be reached by 2014 within the
Outlook horizon of 18 to 24 months.  For 2014 Fitch expects net
debt to EBITDA of about 2.6x.

A negative rating action could occur if deleveraging is slower
than expected due to an increase in the acquisition price for
Rhoen-Klinikum or due to further debt-funded acquisitions or
changes in the mid-term leverage target.

The acquisition would make FSE the number one private hospital
provider in Germany and would complement its geographical profile.
The acquisition would also enable Fresenius to realise cost
synergies from the optimization of the merged hospital network and
cost optimization of the Rhoen-Klinikum hospitals.  Fresenius has
a good track record in integrating past acquisitions.

FSE's net debt/EBITDA was 2.8x at end-2011 (2010: 2.6x), while
EBITDAR net fixed charge cover was 3.8x (2010: 3.5x), leaving some
headroom for the 'BB+' rating before the Rhoen-Klinikum
announcement.

The ratings are supported by FMC's number one global position in
the non-cyclical and steadily growing dialysis products and
services industry, where cash flows are relatively predictable.
Due to its vertical integration, FMC benefits from cost advantages
over its peers, and can build on its reputation for providing
technologically advanced products and high-quality services.  The
ratings are also supported by Fresenius Kabi's solid market
positioning and profitability as the European leader in infusion
and clinical nutrition therapy and its number two market
positioning in the US generic IV drugs market.

Negative rating factors for the ratings include the over-reliance
on dialysis (accounting for 57% of FSE's 2011 consolidated EBITDA,
albeit down from 71% in 2005), as well as the resulting
significant reliance on the reimbursement policies of governments
and private insurers and the possibility of technological
advances, leading to lower demand for dialysis.

On a standalone basis, FMC is slightly larger and more cash
generative than the rest of the group (2011 EBITDA margin of 21%
compared to FSE's deconsolidated 19%).  FSE and FMC have stated
the same net debt/EBITDA mid-term targets of 2.5x-3.0x.

The rating actions are:

FSE:

  -- Short-term IDR: 'B' affirmed
  -- Long-term IDR: 'BB+' affirmed
  -- Senior unsecured debt of 'BB+' affirmed
  -- Senior secured debt of 'BBB' affirmed

Fresenius Finance B.V.:

  -- Guaranteed senior notes of 'BB+' affirmed

Fresenius US Finance II. Inc.:

  -- Senior unsecured notes of 'BB+' affirmed

FMC:

  -- Short-term IDR: 'B' affirmed
  -- Long-term IDR: 'BB+' affirmed
  -- Senior unsecured debt of 'BB+' affirmed
  -- Senior secured debt of 'BBB' affirmed


SEB IMMOINVEST: May Face Liquidation; Needs Cash to Meet Orders
---------------------------------------------------------------
Ben Moshinsky at Bloomberg News reports that SEB ImmoInvest, SEB
Asset Management's EUR6.6 billion (US$8.7 billion) property mutual
fund will be liquidated if it's unable to meet all investor
demands for repayment.

SEB ImmoInvest, the largest of 13 German real-estate funds that
suspended redemptions after the global financial crisis, will
re-open for one day on May 7 to take requests.

According to Bloomberg, SEB Asset Management CEO said that SEB
ImmoInvest will liquidate if it doesn't have enough cash to cover
all orders.  The fund has been closed for almost two years,
Bloomberg notes.

Germany's EUR85.2 billion real estate mutual fund industry may be
facing its biggest crisis, Bloomberg says.  Following the global
recession that ended in 2009, funds struggled to meet redemption
requests, Bloomberg relates.  As a result, 13 funds were frozen
over the course of two years, Bloomberg recounts.


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I R E L A N D
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ALLIED IRISH: Incurs EUR2.3 Billion Loss in 2011
------------------------------------------------
Allied Irish Banks filed with the U.S. Securities and Exchange
Commission its annual report on Form 20-F disclosing a loss of
EUR2.29 billion on EUR1.35 billion of net interest income in 2011,
a loss of EUR10.16 billion on EUR1.84 billion of net interest
income in 2010, and a loss of EUR2.33 billion on
EUR2.87 billion of net interest income in 2009.

Allied Irish's consolidated statement of financial position for
the year ended Dec. 31, 2011, showed EUR136.65 billion in total
assets, EUR122.18 billion in total liabilities and EUR14.46
billion in shareholders' equity.

A copy of the Form 20-F is available for free at:

                         http://is.gd/i6SDb6

                      About Allied Irish Banks

Allied Irish Banks, p.l.c. -- http://www.aibgroup.com/-- is a
major commercial bank based in Ireland.  It has an extensive
branch network across the country, a head office in Dublin and a
capital markets operation based in the International Financial
Services Centre in Dublin.  AIB also has retail and corporate
businesses in the UK, offices in Europe and a subsidiary company
in the Isle of Man and Jersey (Channel Islands).

Since the onset of the global and Irish financial crisis, AIB's
relationship with the Irish Government has changed significantly.

As at Dec. 31, 2010, the Government, through the National Pension
Reserve Fund Commission ("NPRFC"), held 49.9% of the ordinary
shares of the Company (the share of the voting rights at
shareholders' general meetings), 10,489,899,564 convertible non-
voting ("CNV") shares and 3.5 billion 2009 Preference Shares.  On
April 8, 2011, the NPRFC converted the total outstanding amount of
CNV shares into 10,489,899,564 ordinary shares of AIB, thereby
increasing its holding to 92.8% of the ordinary share capital.

In addition to its shareholders' interests, the Government's
relationship with AIB is reflected through formal and informal
oversight by the Minister and the Department of Finance and the
Central Bank of Ireland, representation on the Board of Directors
(three non-executive directors are Government nominees),
participation in NAMA, and otherwise.


AVOCA CLO IV: S&P Raises Rating on Class N Combo Notes to 'CCC+'
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its credit ratings on
Avoca CLO IV PLC's class A1a, A1b, A2, B Def, C1 Def, C2 Def, D
Def, N Combo, P Combo, and Q Combo notes. "At the same time, we
have affirmed our rating on the class E Def notes and withdrawn
our ratings on the class O Combo and R Combo notes," S&P said.

"The rating actions follow our performance review of the
transaction and the application of our 2010 counterparty
criteria," S&P said.

"Since our last review in August 2010, we have observed a
relatively positive rating migration of the underlying portfolio.
Defaulted assets have decreased to 0.4% from 3.0%, and 'CCC' rated
assets have decreased to 7.0% from 12.7%," S&P said.

"At the same time, the credit enhancement available to each class
of notes has slightly increased, despite a drop in the aggregate
collateral balance (to EUR393 million from EUR407 million) due to
losses in the underlying portfolio and amortization. This increase
is due to the class A1a and A1b notes having amortized in order to
cure par value tests, which were previously all in breach. The
class A and B coverage tests are currently back in compliance, and
previously deferred interest on the class C1 and C2 notes has been
repaid, whereas the class D Def and E Def notes have further
deferred interest payments. Since February 2012, the transaction
has entered its amortization period," S&P said.

"Positive factors in our analysis include a reduction of the
weighted-average life and an increase of the weighted-average
spread to 3.34% from 2.79%, following the continuous reinvestment
of redemption proceeds into assets that pay greater margins," S&P
said.

"We have subjected the transaction's capital structure to a cash
flow analysis to determine the break-even default rate for each
rated class at each rating level. We used the portfolio balance
that we consider to be performing, the reported weighted-average
spread, and the weighted-average recovery rates that we consider
to be appropriate. We incorporated various cash flow stress
scenarios using our standard default patterns, levels, and timings
for each rating category assumed for each class of notes, in
conjunction with different interest rate stress scenarios," S&P
said.

"Non-euro assets denominated in British pounds sterling account
for about 3.2% of the underlying portfolio, and the resulting
foreign currency risk is hedged via perfect asset swaps with
Citibank N.A. (A/Negative/A-1), Credit Suisse AG (A+/Negative/A-
1), and JPMorgan Chase Bank N.A. (A+/Stable/A-1) as swap
counterparties. We have also stressed the transaction's
sensitivity to and reliance on the swap counterparties, especially
for senior classes of notes rated higher than the swap
counterparties, by applying foreign exchange stresses to the
notional amount of non-euro assets. Our analysis showed that
the class A1a notes could withstand a 'AAA' stress under these
conditions, and that the class A1b and A2 notes could withstand a
'AA+' stress," S&P said.

"Therefore, and in accordance with our analysis, we have raised
our ratings on the class A1a, A1b, A2, B Def, C1 Def, C2 Def, D
Def, N Combo, P Combo, and Q Combo notes to levels that
appropriately reflect the current levels of credit enhancement,
the portfolio credit quality, and the transaction's performance.
We note that the rating on the class D Def notes is capped by our
largest obligor test at 'B+', compared with 'CCC+' at our previous
review, and would otherwise pass at a 'BB+' level," S&P said.

"Regarding the combination (Combo) notes, 's upgrades reflect the
upgrades of their rated components, as well as the partial
amortization of their rated balance, which is mainly through
interest payments," S&P said.

"We have affirmed our 'CCC- (sf)' rating on the class E Def notes,
because the rating is still capped at 'CCC-' by our largest
obligor test, and would otherwise pass at a 'B-' level," S&P said.

"Finally, we have withdrawn our ratings on the class O Combo and R
Combo notes, following confirmation that these notes have been
decoupled," S&P said.

Avoca CLO IV is a cash flow collateralized loan obligation (CLO)
transaction, backed primarily by leveraged loans to speculative-
grade corporate firms. Geographically, the portfolio is
concentrated in Germany, France, the Netherlands, and the U.K.,
which together account for about 70% of the portfolio. Avoca CLO
IV closed in January 2006 and is managed by Avoca Capital
Holdings.

            STANDARD & POOR'S 17G-7 DISCLOSURE REPORT

SEC Rule 17g-7 requires an NRSRO, for any report accompanying a
credit rating relating to an asset-backed security as defined in
the Rule, to include a description of the representations,
warranties and enforcement mechanisms available to investors and a
description of how they differ from the representations,
warranties and enforcement mechanisms in issuances of similar
securities. The Rule applies to in-scope securities initially
rated (including preliminary ratings) on or after Sept. 26, 2011.

If applicable, the Standard & Poor's 17g-7 Disclosure Report
included in this credit rating report is available at:

          http://standardandpoorsdisclosure-17g7.com

RATINGS LIST

Class               Rating
            To                  From

Avoca CLO IV PLC
EUR494.1 Million Floating- and Fixed-Rate Notes

Ratings Raised

A1a         AAA (sf)            AA+ (sf)
A1b         AA+ (sf)            AA (sf)
A2          AA+ (sf)            AA (sf)
B Def       AA- (sf)            A- (sf)
C1 Def      BBB+ (sf)           BB+ (sf)
C2 Def      BBB+ (sf)           BB+ (sf)
D Def       B+ (sf)             CCC+ (sf)
N Combo     CCC+ (sf)           CCC- (sf)
P Combo     B- (sf)             CCC- (sf)
Q Combo     BBB+ (sf)           B (sf)

Rating Affirmed

E Def       CCC- (sf)

Ratings Withdrawn

O Combo     NR                  CCC- (sf)
R Combo     NR                  BB+ (sf)

NR-Not rated.


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


PSB FINANCE: Fitch Assigns 'BB-' Rating to US$400 Million Notes
---------------------------------------------------------------
Fitch Ratings has assigned PSB Finance S.A.'s US$400 million issue
of loan participation notes (LPN) a final Long-term rating of 'BB-
.'  The notes mature in April 2017 and pay an 8.5% coupon rate.

PSB Finance S.A., a Luxemburg-domiciled special-purpose vehicle,
will use the proceeds from the notes to finance a loan to Russia-
based Promsvyazbank (PSB, 'BB-'/Stable/'B') and will only pay
noteholders principal and interest received from PSB.  The notes
were issued under a USD3bn LPN program rated 'BB-' for senior
issues and 'B+' for subordinated issues.

PSB was the third-largest privately owned bank in Russia at end-
2011.  Russian businessmen Alexey Ananiev and Dmitry Ananiev
currently own 73.9% of PSB and might increase their shareholding
through a buyback of a 14.4% stake from Commerzbank AG
('A+'/Stable).  EBRD owns the remaining 11.7%.


=============
R O M A N I A
=============


PIRITEX: Declared Insolvent; To Enter Reorganization Process
------------------------------------------------------------
SeeNews reports that Piritex was declared insolvent.

"Piritex is one of main players on the decoration products market
and we will search for the best solutions to keep the advantages
the company has compared to its competitors," SeeNews quotes the
Casa de Insolventa Transilvania, the company's administrator, as
saying in a statement.

The company will go through a reorganization process, SeeNews
discloses.

Piritex is a Romanian decoration products distributor.  The
company, established in 1994, supplies carpets, linoleum,
flooring, adhesives and accessories.


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


MEGAFON OAO: Fitch Affirms Issuer Default Ratings at 'BB+'
----------------------------------------------------------
Fitch Ratings has revised the Outlook on OAO MegaFon to Stable
from Positive and affirmed its Long-term foreign currency and
local currency Issuer Default Ratings (IDR) at 'BB+'.  The agency
has also affirmed the Short-term foreign currency IDR at 'B' and
National Long-term rating at 'AA(rus)' and foreign and local
currency senior unsecured rating at 'BB+'.

The revision of the Outlook reflects Fitch's concerns that the new
shareholder structure, whereby AF Telecom controls50%+1 of
MegaFon, contains substantial corporate governance risks.  AF
Telecom will be able to exercise control over key company
decisions, including dividend policy, potential leverage increase
and the majority of acquisitions (barring any share dilutions.
There is no shareholder agreement in place.  All shareholders
issues will be resolved under Russian corporate law.

MegaFon's financial and operational profile conforms to a higher
rating category than its current 'BB+' IDR, but the company's
corporate governance concerns constrain it to below investment
grade category.

Fitch notes also that under this ownership structure MegaFon is
unlikely to be protected from a potential negative influence from
AF Telecom. The company is controlled by Mr Usmanov, who is a
principal shareholder of JSC Holding Company Metalloinvest
(Metalloinvest , 'BB-'/Stable), where Fitch assess corporate
governance as below average compared to Russian steel and mining
peers and where related party transactions, particularly use of
debt for acquisition of assets not related to the company's
operations, are an area of concern.

Fitch also has concerns that MegaFon's cash flow could be
compromised by cash needs at the AF Telecom parent level if the
more cyclical Metalloinvest required funding.

Regarding M&A risks, AF Telecom has recently announced that it is
creating a new holding company with the owners of Skartel, which
will control 50% + 1 share of MegaFon and 100% of Skartel. Skartel
is the only mobile operator in Russia which has LTE frequencies
and is allowed to build a 4G network. However, due to its
financial position, the company is unlikely to be able to create a
nationwide 4G network on its own. An acquisition of Skartel in the
mid term, when it will likely enlarge its operations and achieve
some scale, is probable.

As a result of the new ownership structure, including a special
dividend payment and exit of Altimo from MegaFon, the company had
to raise a total of USD4.5bn and is likely to increase its
leverage to the upper bound of announced leverage range of 1.2x-
1.5x net debt/EBITDA ratio by end-2012, which is consistent with
the current rating. Fitch notes that the company's rating provides
some flexibility for leverage increase up to 2.5x net debt/EBITDA,
but only if there are no liquidity problems and the debt maturity
profile is well spread.


VIMPELCOM LTD: S&P Affirms 'BB' Corporate Credit Ratings
--------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on global
telecommunications operator VimpelCom Ltd. to stable from
negative. The 'BB' long-term corporate credit ratings on VimpelCom
Ltd. and Vimpel-Communications JSC, as well as the issue ratings
on related debt were affirmed.

"The rating actions reflect our view that VimpelCom's resilient
free cash flow generation and commitment to deleveraging should
provide significant leeway, allowing it to absorb the possible
negative impact from the resolution of a dispute involving its
Algerian subsidiary and from volatile currency exchange rates,"
S&P said.

"In our base-case assessment, we assume that VimpelCom's free cash
flow generation will improve in 2012 on the back of growth in
scale and lower capital expenditures. We also assume that
VimpelCom will remain committed to its dividend policy of $0.80
per share and that its discretionary cash flow will remain
positive in 2012 and beyond. Based on that, we estimate that
VimpelCom's consolidated debt-to-EBITDA ratio will decrease to
2.6x at the end of 2012 from 2.8x pro forma at the end of 2011,"
S&P said.

"We believe that this headroom from our threshold of 3x for the
rating will be sufficient to neutralize the possible fallout from
the resolution of a conflict involving VimpelCom's majority-owned
subsidiary in Algeria, which remains in a tax dispute with the
local government. We also assume that the company will carefully
manage the risks related to the possible devaluation of the
Russian ruble, which we see as another factor that might result in
rating pressure," S&P said.

"The rating on VimpelCom reflects its aggressive growth
orientation and reduced flexibility resulting from an increase in
debt to finance the acquisition of Wind Telecom in 2011. Exposure
to countries with above-average country risks and the possibility
of nationalization or the forced sale of the company's Algerian
subsidiary also constrain the rating," S&P said.

"These risks are partly offset by VimpelCom's ownership of a
portfolio of well-established operations in Russia and Italy,
which show good profitability and cash flow generation. In
addition, VimpelCom has expanding operations in other parts of the
Commonwealth of Independent States, Africa, and Asia, often
with leading market positions," S&P said.

"The stable outlook reflects our expectation that VimpelCom will
retain its strong operating performance across its various markets
and use its free operating cash flow to reduce debt," S&P said.

"At the current rating level, we anticipate consolidated debt to
EBITDA to be in the range of 2.5x-3.0x. We believe VimpelCom has
the potential to strengthen its financial profile because it can
generate meaningful positive free cash flows. However, this can be
partly offset by volatile credit ratios, depending on the
resolution of the situation in Algeria and fluctuations in
currency exchange rates," S&P said.

"We could lower the ratings if VimpelCom's consolidated adjusted
debt leverage exceeded 3x for a prolonged period. A downgrade
could also be triggered by more aggressive investment decisions,
including further expansion into countries with higher-than-
average country risk, or increased dividend payments. At this
point, we do not anticipate negative rating implications from the
tax dispute concerning VimpelCom's Algerian subsidiary, mainly
because we believe that these disputes are unlikely to result in
significantly higher financial leverage. However, if the company
were to lose control over its Algerian subsidiary without adequate
compensation, it could be hamper VimpelCom's credit profile," S&P
said.

"Ratings upside could build if VimpelCom were to reduce its debt
to EBITDA to consistently lower than 2.5x and show its commitment
to its own long-term financial policy targets. An upgrade would
also depend on the positive resolution of the dispute involving
the Algerian subsidiary," S&P said.


===========
T U R K E Y
===========


EUROBANK TEKFEN: Moody's Issues Correction to Ratings Release
-------------------------------------------------------------
Moody's Investors Service issued a correction to the April 13
ratings release of Eurobank Tekfen A.S.

Moody's has changed the review placement to direction uncertain
from review for downgrade on Eurobank Tekfen's Ba3 Ba3 global
local currency (GLC) deposit rating. This follows the share-
purchase agreement entered into on April 9, 2012, between Burgan
Bank SAK (A3/P-2/D+, stable) and EFG Eurobank Ergasias (Caa2/NP/E,
negative) to acquire a majority stake at Eurobank Tekfen. Moody's
understands that the share-purchase agreement will be finalized
during Q3 2012.

Eurobank Tekfen's other ratings are unaffected by this
announcement. More specifically, Moody's has maintained the review
for downgrade of Eurobank Tekfen's D- bank financial strength
rating (BFSR), mapping to ba3 on the long-term scale, and its Ba3
foreign currency deposit rating.

RATINGS RATIONALE

-- CHANGE TO REVIEW WITH DIRECTION UNCERTAIN FROM REVIEW FOR
DOWNGRADE

Currently, Eurobank Tekfen's GLC deposit rating does not benefit
from any rating uplift from its lower-rated current majority
shareholder, EFG Eurobank Ergasias. During the review, Moody's
will assess its assumptions about external support for Eurobank
Tekfen, in particular the availability of parental and systemic
support, in case of need. Support assumptions can lead to a bank's
issuer and deposit ratings being positioned higher than their
standalone credit assessments under Moody's joint-default analysis
(JDA). Moody's assessment of a low probability of systemic support
for Eurobank Tekfen is based on the bank's very limited size and
importance to the domestic financial system in Turkey, and does
not result in any rating uplift to the bank's GLC deposit rating
from its standalone credit strength.

However, if the potential ownership change results in the higher-
rated Burgan Bank being a majority shareholder, Moody's external
support assumption is likely to result in rating uplift for
Eurobank Tekfen's GLC deposit rating rating from its standalone
credit strength. As a result, upon conclusion of the review, and
if the share purchase by Burgan is realised, Moody's expects the
GLC deposit rating to be positioned at least at its current level
of Ba3 or slightly above that level. Should the current ownership
structure continue, however, Moody's would likely downgrade the
GLC deposit rating, as outlined in the press release "Moody's
reviews Eurobank Tekfen's D-/Ba3 ratings for downgrade" issued on
March 30, 2012. To reflect the possibility of a near-term
ownership change with potentially positive credit implications for
Moody's support assumptions, the review of the bank's GLC deposit
rating has been changed to direction uncertain from review for
downgrade previously.

-- FOCUS OF THE REVIEW OF THE BFSR

During the review Moody's will focus on the extent of Eurobank
Tekfen's weak profitability and moderate asset-quality trends,
which could experience further downward pressure on the back drop
of slower economic growth expected in 2012, in line with Moody's
expectations for the system. Furthermore, Moody's will assess the
strategic uncertainties and possible franchise evolution that
Eurobank Tekfen might experience, depending on whether the
ownership change goes through. In Moody's view, the benefits of a
successful collaboration under new ownership -- including
synergies that could reflect positively on Eurobank Tekfens'
franchise -- would only materialize over the medium term.

Moody's assumption is that subsidiaries are always likely to be
partially affected by changes in parents' creditworthiness. As a
result, in the absence of the share purchase, Moody's will analyze
the positioning of Eurobank Tekfen's standalone credit assessment
relative to its parent's standalone profile. Moody's analysis will
take into account (i) the degree of interlinkage between the
parent and the subsidiary; (ii) the extent to which a possible
default of the parent bank might have credit-negative implications
for Eurobank Tekfen's credit profile and franchise; and (iii)
regulatory barriers in Turkey that restrict EFG Eurobank Ergasias
from using -- at its discretion -- Eurobank Tekfen's resources.

-- WHAT COULD MOVE RATINGS UP/DOWN

Majority ownership from a higher-rated shareholder are likely to
result in Eurobank Tekfen's GLC deposit rating being positioned at
least at its current level or even slightly above that level,
depending on Moody's assumptions of potential future parental
support in case of need.

There is no upward pressure on the standalone profile of Eurobank
Tekfen, captured by the ongoing review for downgrade on its BFSR.
The most important downward rating drivers continue to be (i) the
strategic and operational uncertainty related to a change in
ownership; (ii) continued weakening in Eurobank Tekfen's core
earnings base, effecting its internal capital generation; (iii)
reduction in the overall capital levels, constraining its
franchise expansion; (iv) any deterioration in the funding profile
coupled with an increase in non-performing loans; and (v)
liquidity and capital pressures faced by the current parent bank
that could have adverse implications for Eurobank Tekfen's
standalone profile.

Principal Methodologies

The methodologies used in this rating were Bank Financial Strength
Ratings: Global Methodology published in February 2007, and
Incorporation of Joint-Default Analysis into Moody's Bank Ratings:
Global Methodology published in March 2012.


TURKIYE VAKIFLAR: Moody's Assigns 'Ba1' Sr. Unsecured Debt Rating
-----------------------------------------------------------------
Moody's Investors Service has assigned a first-time Ba1 foreign-
currency senior unsecured debt rating to Turkiye Vakiflar Bankasi
TAO (Vakifbank). The outlook on the rating is positive.

Ratings Rationale

The foreign-currency debt ratings that Moody's assigns to issuers
are subject to the relevant foreign-currency bond ceiling. As a
result, even though Vakifbank's global local-currency (GLC)
deposit rating of Baa3 is higher than Turkey's Ba1 foreign-
currency bond ceiling, Vakifbank's foreign-currency senior
unsecured debt rating is constrained by and thus equal to this
ceiling, with its positive outlook.

The debt issuance is being offered under Rule 144A, Regulation S.
The terms and conditions of the notes include (among others)
negative pledge, cross-default and change-of-control clauses. The
notes will be unconditional, unsubordinated and unsecured
obligations and will rank pari passu with all of Vakifbank's other
senior unsecured obligations. The rating of the notes is in line
with Vakifbank's foreign-currency senior unsecured debt rating.

WHAT COULD MOVE THE RATINGS UP/DOWN

Given Vakifbank's Baa3 long-term GLC rating, upward pressure could
be exerted on the foreign-currency debt rating if Turkey's
foreign-currency bond ceiling was raised in line with an upgrade
of the sovereign rating.

Equally, Vakifbank's long-term foreign-currency rating could come
under pressure following a lowering of Turkey's foreign-currency
bond ceiling, as a consequence of a downgrade of the sovereign
rating. Furthermore, a downgrade of Vakifbank's long-term GLC
deposit rating -- as a result of a notable weakening of the bank's
standalone risk profile -- could exert downward pressure on the
long-term foreign-currency rating. However, Moody's believes that
the long-term GLC deposit rating is unlikely to be downgraded in
the near term, reflected by the stable outlook on the GLC rating.

Principal Methodologies

The methodologies used in this rating were Bank Financial Strength
Ratings: Global Methodology published in February 2007, and
Incorporation of Joint-Default Analysis into Moody's Bank Ratings:
Global Methodology published in March 2012.


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


BETSEY JOHNSON: Enters Bankruptcy in the U.S.
---------------------------------------------
New York-based women's fashion retailer Betsey Johnson LLC filed a
Chapter 11 bankruptcy petition (Bankr. S.D.N.Y. Case No. 12-11732)
on April 26, 2012, after attempts to sell the business failed.

Formed as B.J. Vines by its namesake, iconic fashion designer
Betsey Johnson in 1978, the Debtor sells clothing, footwear,
handbags and a signature fragrance through 63 Betsey Johnson
retail stores and outlets in the U.S.  The Debtor, which has 400
employees, also sells its products in department and specialty
stores worldwide, including Macy's and Lord & Taylor, and online
at http://www.betseyjohnson.com/ Non-debtor subsidiaries operate
five stores in Canada and one store in England.

In 2010, Steven Madden Ltd. a footwear designer and marketer,
swapped US$27.4 million of secured debt for ownership of Betsey
Johnson's trademarks and intellectual property.  The deal
satisfied all outstanding debt under a US$50 million term loan
used to finance the business' acquisition by Castanea Partners.
At the same time, Castanea, the company's majority owner, made a
new capital investment of US$3 million as part of the deal with
Madden.

                        Prepetition Effort

"Since 2007, sales at the retail stores have experienced declines
by over 20% and profitability has declined by more than 50%.  In
addition, the economic recession had a devastating impact on
higher-end fashion apparel brands, including Betsey Johnson
Fashions.  The effect on the Debtor's business was further
compounded by certain merchandising decisions that negatively
impaired dress and handbag sales.  Over the last year, the Debtor
has hired new senior merchandisers, designers and wholesalers who
have been successful in consummating the first steps of the
Debtor's recovery.  Notably, in 2011, sales for the first time in
several years were up by 8% over the prior year.  However,
continued cash constraints continued to be an obstacle to the
Debtor's complete turnaround," Jonathan Friedman, CFO of the
Debtor, explains in a court filing.

For the fiscal year ending Dec. 31, 2011, the Debtor generated
sales revenues of nearly US$60 million, but had an EBITDA of
negative US$5.7 million.  Of its revenues, US$57.6 million were
attributable to the Debtor's retail and online business and
US$2.4 million were attributable to the Debtor's wholesale
business.

In January 2012, Betsey Johnson commenced a process to explore
strategic alternatives, including a sale of the business
enterprise as a going concern, pursuant to which the Company held
multiple discussions with at least three prospective purchasers.

In February, the Debtor engaged Morpheus Capital + Advisors LLC
was hired to assist the company in finding new equity investors or
selling the business as going concern but, despite diligent
efforts, discussions with numerous prospects and intensive
negotiations with at least two interested parties, no agreement
for such an equity investment or sale has been reached with any
party to date.

Because the Company is suffering severe liquidity constraints and
is or will imminently be in default under its secured loans, it
decided to seek bankruptcy protection Thursday night.

The Wall Street Journal, citing unnamed sources, reported early
Thursday about Betsey Johnson's bankruptcy plans.

The Debtor estimated assets and debts of US$10 million to US$50
million as of the Chapter 11 filing.  The company owes US$3
million under a secured term loan provided by BJ Acquisition, LLC,
and US$2.35 million under a secured revolving line of credit
provided by First Niagara Commercial Finance Inc.  Unsecured
obligations owed to vendors and other creditors aggregate US$4.1
million.  The company's largest unsecured creditor is Haskell
Jewels LLC of New York, with a US$450,105 claim.

                         First Day Motions

The Debtor has filed "first day" motions that seek, among other
things, to ensure the continuation of the Debtor's cash management
system and other business operations without interruption, obtain
secured postpetition financing essential to support the Debtor's
business, preserve customer relations, maintain employee
dedication and morale, and establish certain other administrative
procedures to facilitate the transition of the Debtor's business
operations into chapter 11.

The Debtor has tapped the law firm of Goulston & Storrs, as
counsel; Togut, Segal & Segal, LLP, as co counsel; Richter
Consulting, Inc., as financial advisor, and Donlin Recano &
Company as claims and notice agent.

                           Sale of Assets

The Debtor's primary chapter 11 objective is to effectuate an all-
asset sale, either as a going concern or through an orderly wind-
down process using a nationally recognized liquidator.  The Debtor
intends to entertain offers to purchase any or all of its business
operations.

The Debtor is filing a motion to establish procedures for the sale
of substantially all its assets.  After reviewing the initial
bids, the Debtor selected the bid of Hilco Merchant Resources, LLC
to serve as the stalking horse bid.  Based on a review of the
Debtor's business plan, the operating results since the Petition
Date, the efforts by the Debtor and its advisors to market the
Debtor's assets, the Debtor's board of directors determined that
the interests of the Debtor, their creditors, employees and
customers would be best served by proceeding with going out of
business or store closing sales at all of the Debtor's stores,
subject to higher and better offers.

Earlier in April, the Debtor, with the assistance of its
professionals, solicited offers from three of the leading national
liquidation firms and provided them with extensive information
regarding the Debtor's stores, merchandise and expense structure.
One of the three, with the consent of the Debtor, brought in a
fourth liquidation firm as a joint venture partner.  The Debtor
requested and received on April 23 three initial bids for the
right to serve as agent and conduct the store closing sales at all
of its retail store locations.

On April 26, the Debtor entered into the agency agreement with the
stalking horse bidder, which provides for the store closing sales.
The material terms of the deal are:

   * Assets to be sold include all merchandise at up to 69 stores
     and distribution centers and all FF&E located at the stores.

   * The liquidating agent will guarantee the Debtor's receipt of
     92.0% of the cost value of the merchandise included in the
     sale.

   * The liquidating agent will receive a fee of 25% of the net
     proceeds from the sales.

   * The liquidating agent will supervise the sale of merchandise
     and FF&E located at the UK store.

   * The Debtor may supplement the merchandise in the stores with
     any on-order goods.

   * The closing sales will being on or before May 11, 2012.

As consideration for serving as stalking horse bidder, Hilco has
required that it be awarded a break-up fee equal to US$50,000
payable in the event that another party is the winning bidder.

The Debtor requests that the Court enter the sale procedures order
as soon as possible on or after April 27, 2012 and that the Court
set a deadline of May 7, 2012 to: (i) object to the sale motion
and the sale contemplated thereby; and (ii) submit bids and
counteroffers.  In addition, the Debtor is seeking authority to
conduct an auction on May 8, 2012, with the sale hearing to follow
on May 9, 2012.  This schedule will ensure that the store closing
sales commence no later than May 11, 2012 to take advantage of
prom season, and prior to Mother's Day on May 13, 2012.


BETSEY JOHNSON: Case Summary & 30 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Betsey Johnson LLC
        498 Seventh Avenue
        New York, NY 10018

Bankruptcy Case No.: 12-11732

About the Business: Formed as B.J. Vines by its namesake, iconic
                    fashion designer Betsey Johnson in 1978, the
                    Debtor sells clothing, footwear, handbags and
                    a signature fragrance through 63 Betsey
                    Johnson retail stores and outlets in the U.S.
                    The Debtor, which has 400 employees, also
                    sells its products in department and
                    specialty stores worldwide, including Macy's
                    and Lord & Taylor, and online at
                    http://www.betseyjohnson.com/ Non-debtor
                    subsidiaries operate five stores in Canada
                    and one store in England.

Chapter 11 Petition Date: April 26, 2012

Court: U.S. Bankruptcy Court
       Southern District of New York

Debtor's
Bankruptcy
Counsel:    James F. Wallack, Esq.
            Douglas B. Rosner, Esq.
            Gregory O. Kaden, Esq.
            Vanessa V. Peck, Esq.
            GOULSTON & STORRS, P.C.
            400 Atlantic Avenue
            Boston, MA 02110-3333
            Tel: (617) 482-1776
            E-mail: jwallack@goulstonstorrs.com
                    drosner@goulstonstorrs.com
                    gkaden@goulstonstorrs.com
                    vpeck@goulstonstorrs.com

Debtor's
Co-Counsel: Frank A. Oswald, Esq.
            TOGUT, SEGAL & SEGAL LLP
            One Penn Plaza, Suite 3335
            New York, NY 10119
            Tel: (212) 594-5000
            E-mail: frankoswald@teamtogut.com

Debtor's
Financial
Advisor   : RICHTER CONSULTING, INC.
            200 South Wacker Drive, Suite 3100
            Chicago, Illinois 60606

Debtor's
Claims and
Noticing
Agent:      DONLIN RECANO
            419 Park Avenue South
            New York, New York 10016

Estimated Assets: US$10 million to Us$50 million

Estimated Debts:  US$10 million to US$50 million

The petition was signed by Jonathan Friedman, chief financial
officer.

Betsey Johnson LLC's List of Its 30 Largest Unsecured Creditors:

        Entity                     Nature of Claim   Claim Amount
        ------                     ---------------   ------------
Haskell Jewels, LLC                Trade Debt          US$450,105
390 Fifth Avenue
2nd Floor
New York, NY 10018
Michelle Nitti - Account Executive
212-764-3332
mnitti@haskelljewels.com
Jon Ruggieri - SVP Licensed Brands
jruggieri@haskelljewels.com

B.C. America                       Trade Debt            $443,087
131 West 35th Street
10th Floor
New York, NY
Carl - 212-279-3601 X201
carl@bcamerica.com

Parawin Industries Limited         Trade Debt            $298,176
Unit 4 2/Fl. Block B
Hoi Luen Industrial Center
55 Hoi Yuen Rd
Kwun Tong, Kowloon
HONG KONG
Sunny Tse - Owner
Stse@parawinhk.com
011- 852 -27630948

American Express                   Trade Debt            $258,148
200 Vesey Street
New York, NY 10285
212-640-2000
CEO - Kenneth Chenault
Michael Diamond - Acct Rep.
201-850-1052
Michael.d.diamond@aexp.com

Cejon Inc.                         Trade Debt            $194,546
390 Fifth Avenue
6th Floor
New York, NY 10018
Emily Small - Account Executive
small@cejon.com
212-967-4663

KSP Limited                        Trade Debt            $160,241
Unit 1109, 11 FL
One Harbourfront
18 Tak Fung Street
Hung Hom, Kowloon
HONG KONG 1111
011-852-9472-7339
Annie Tsui
Annie@ksphkg.com
011-852-2954-2266 x730

Federal Express                    Trade Debt            $159,026
Federal Express
942 South Shady Grove Road
Memphis, TN 38120
901-369-3600
CFO - Alan Graf
Acct. Rep. Julie Dworek
Fax: (800) 548-3020

Lunada Bay                         Trade Debt            $138,314
214 W 39th Street
Suite 702
New York, NY 10018
Chuck Pinkow - VP Sales
cchh6@aol.com
212-944-9788

Matt Textiles, Inc                 Trade Debt            $126,645
142 West 36th Street 6 FL
New York, NY 10018
Nana/Fred
212-967-6010
Mattextile@aol.com

Mast Industries                    Trade Debt            $119,015
4 Limited Parkway
Reynoldsburg, OH 43068
Tsam (new company)
666 Fifth Avenue
4th Floor
New York, NY 10103
Jim Schwartz
212-904-7600
Jschwartz@mast.com

Texollini                          Trade Debt            $108,125
1359 Broadway
Suite 726
New York, NY 10018
Peter Unzueta
212-290-2701
punzueta@texollini.com

Steve Madden LTD (HQ)
52-16 Barnett Ave
Long Island City, NY 11104         Trade Debt             $96,413

Dave Rosenfelt - President
310-348-9224
Cell - 718-308-2491
Davidrosenfelt@stevemadden.com

Julianna Marra - Account Executive
718-308-4138
Juliannemarra@stevemadden.com

Headline Fashions LTD.             Trade Debt             $93,876
Prince Ind. Bldg , 7th Floor
106 King Fuk St. San PO Kong
Filat A&B,
Kowloon, HONG KONG
011-852-2326-0225
Margot Levy
Fax: 011-852-2352-0436

Alba Wheels Up International Inc.  Trade Debt             $72,898
150-30 132nd Ave.
Jamaica, NY 11434
Salvatore Stile II
s.stile@albawheelsup.com
718-276-3000

Haskell Timepieces LLC             Trade Debt             $67,041
390 Fifth Avenue
2nd Floor
New York, NY 10018

Michelle Nitti - Account Executive
212-764-3332
mnitti@haskelljewels.com

Jon Ruggieri - SVP Licensed Brands
jruggieri@haskelljewels.com

T Shirt Factory                    Trade Debt             $66,401
3400 S. Main Street
Los Angeles, CA 90007
323-321-3747
Charles DeTorre
Charles@tsfglobal.com

Coddy Global LTD                    Trade Debt            $65,251
13F, NO 2, SEC. 1 Tun Hwa South
Road
TAIPEI
TAIWAN R.O.C.
011-886-2-2781-5550 Ext 110
Miranda Change
miranda_chang@coddy.com.tv
Fax No. 011-886-2-2781-5550

Colortex Lining, Inc.                Trade Debt           $64,727
270 W. 38th Street
Suite 400
New York, NY 10018
212-560-9170
Colortexlining@aol.com

H&S Fashion                          Trade Debt           $64,706
327 W. 36th Street 6th Floor
New York, NY 10018
212-564-1211
36thfashionco@gmail.com
Mr. Lim

Chinamine Trading LTD                Trade Debt           $62,910
NO.1 Hung To Road
RM 2802-2811,
Kowloon
HONG KONG
US Office:
214 West 39th Street
Room 304
New York, NY 10018
212-575-1525
Carrie Barnett
carribarnett@chinamineusa.com

Deloitte & Touche LLP                 Trade Debt          $60,000
Michael Savarese - Audit Partner
1633 Broadway
New York, NY 10019
212-436-3143
Fax: (212) 489-1687

Michar LLC NY                         Trade Debt          $59,717
499 7th Avenue
14th Floor
New York, NY 10018
Michael Maher
mmaher@micharllc.com
212-398-4636

LALA Land Production &               Trade Debt           $54,411
Design
2301 E 7th Street B114
Los Angeles, CA 90023
Alexander Zar - CEO
az@lalaland-design.com
323-267-8485

Lilly Fashion NYC Inc                 Trade Debt          $53,136
265 West 37th Street
10th Floor
New York, NY 10018
Sara 212-921-4660
sara@lillynyc.com

MCM Enterprise                        Trade Debt          $49,830
148 39th Street
3rd Floor
Brooklyn, NY 11232
Joanne Lau
Joanne.lau.0101@gmail.com
718-438-8443

Carole Hochman Designs Inc.           Trade Debt          $49,791
135 Madison Avenue
6th Floor
New York, NY 10016

Lauren Borish Sodowick - Divisional
Director of Sales
Lauren.borish@carolehochman.com
212-725-1212 x356

Caesars                               Trade Debt          $49,333
c/o C-III Asset Management LLC
1717 Arch St. 30th Floor
Philadelphia, PA 19103-2707
215-963-4000
Contact - Missy A. Quinn
missy.quinn@cushwake.com

Leg Resources                         Trade Debt          $44,827
350 5th Avenue (ESB)
Suite 2209
New York, NY 10018

Wayne Lederman - President
Wayne@legresource.com
212-736-4574

CIGNA                                 Trade Debt          $41,850
499 Washington Blvd.
4th Floor
Jersey City, NJ 07310
Ryan Murphy
201-533-7824
Fax: 201-533-7164

Google Inc.                           Trade Debt          $35,750
1600 Amphitheatre Pkwy
Mountain View, CA 94043
650-253-0000
CFO - Patrick Pichette
Fax: 650-253-0001


CLINTON CARDS: Explores Options After Failed Sale Attempts
----------------------------------------------------------
James Thompson at The Independent reports that Clinton Cards is
battling to safeguard its future after attempts to sell the
company, or parts of the group, came to nothing.

The listed-group is considering an insolvency procedure to
jettison scores of shops, in an effort to turn around its dire
performance, the Independent says.

Darcy Willson-Rymer, the chief executive since October, completed
his strategic review of the business on Friday and he will now
present his findings to investors and other stakeholders over the
coming days, the Independent relates.  But he appears to be
running out of options -- apart from a long, arduous turnaround of
its performance -- after two sets of advisers failed to sell its
139-store Birthdays chain or the wider group, which would have
taken it private after 24 years, the Independent notes.

This has put the spotlight firmly on the accountants KPMG, which
Clinton Cards also hired as an adviser recently, with a company
voluntary arrangement one of the options on the table, the
Independent discloses.  If a majority of creditors agree, the
procedure would potentially enable the card group to slash its
annual rental bill and offload large number of stores, the
Independent states.

Clinton hired a restructuring team at Ernst & Young to sell its
loss-making 139-store Birthdays chain but found no takers, the
Independent recounts.  Advisers at Rothschild had also tried to
find potential buyers for the whole group, the Independent
relates.

Clinton Cards sunk to a loss of GBP3.6 million over the half-year
to January 29, following a profit of GBP11.7 million for the same
period a year ago, the Independent discloses.

Clinton Cards is a card retailer.  The company operates stores
across the UK.


PORTSMOUTH FOOTBALL: PKF to Form Part of Creditors' Committee
-------------------------------------------------------------
Rachael Singh at Accountancy Age reports that PKF administrators
have announced that Baker Tilly liquidators will form part of the
creditors' committee to decide the future of Portsmouth FC.

The club entered administration on February 17 with PKF partners
Trevor Birch, Ian Gould and Bryan Jackson appointed, Accountancy
Age relates.

In 2010, Portsmouth entered administration as a Premiership club
with UHY Hacker Young partners Andrew Andronikou, Peter Kubik and
Michael Kiely appointed administrators, Accountancy Age recounts.
In March 2011 Geoff Carton-Kelly and David Hudson, partners at
Baker Tilly, were appointed liquidators, Accountancy Age
discloses.

Portsmouth was previously making payments to the liquidators as
part of a rescue deal packaged at the end of 2010, Accountancy Age
notes.

Now representatives of Baker Tilly liquidators, former majority
share owner Convers Sports Initiatives, HM Revenue & Customs,
Portpin, which lent funds to the club, and the Professional
Footballers Association, will make-up the creditors committee,
Accountancy Age states.

"We are doing all we can to find a successful outcome before the
money runs out.  In our view, a sale of the club as a going
concern and subsequent CVA will result in the best possible
outcome for everyone involved, including the creditors,"
Accountancy Age quotes Mr. Birch as saying.

                         Takeover Talks

In a separate report BBC Sport related that Mr. Birch says the
debt-ridden club have a "50/50" chance of survival as they
continue the search for new owners.

According to BBC, Mr. Birch says he is talking to two interested
parties but is yet to receive an offer or see proof of funds.

BBC notes Speaking at Thursday's creditors' meeting, Mr. Birch
added "the club only has enough cash to last until June".

However, representatives of major creditor Balram Chainrai
reiterated his desire not to let the club go bust, BBC notes.

Mr. Chanrai, who bought the club in 2010 before selling to Convers
Sports Initiatives, is still owed GBP19 million but has previously
said he will write off some of that debt to save them, BBC
relates.

The club currently has GBP58 million in debt and searching for new
owners, BBC discloses.

"I am still in discussions with two parties, one of whom is more
serious than the other," Mr. Birch, as cited by BBC, said.  "We
have not seen proof of funds nor are they making the right noises
to make me think they are about to buy the club. There is no
imminent bid from them."

Mr. Birch added that he was still hopeful previous owners Portpin,
who are led by Mr. Chainrai, would help save the club, BBC notes.

It emerged Mr. Chainrai has GBP12 million secured creditors'
status on the club and GBP7 million unsecured, BBC states.

                    About Portsmouth Football

Portsmouth Football Club Ltd. -- http://www.portsmouthfc.co.uk/
-- operated Portsmouth FC, a professional soccer team that plays
in the English Premier League.  Established in 1898, the club
boasted two FA Cups, its last in 2008, and two first division
championships.  Portsmouth FC's home ground is at Fratton Park;
the football team is known to supporters as Pompey.  Dubai
businessman Sulaiman Al-Fahim purchased the club from Alexandre
Gaydamak in 2009.  A French businessman of Russian decent,
Gaydamak had controlled Portsmouth Football Club since 2006.


PRITCHARD GROUP: In Administration, Units Trading as Usual
----------------------------------------------------------
Birmingham Mail reports that The Pritchard Group Plc has gone into
administration and property mogul Fred Pritchard announced his
retirement.

Charles Tippet, appointed chief executive in February, 2011,
confirmed the move, but stressed: "It is very much business as
usual.  We employ 95 people and continue to employ 95 people . . .
.  It is part of a change of control at the top following
acquisition of the group debt," according to Birmingham Mail.

Birmingham Mail notes that Mr. Tippet described the move as a
'technical procedure'.  "All our businesses are trading as usual
and we are continuing to operate.  Every business is operating as
it did before," he added, the report relays.

Birmingham Mail discloses that Mr. Tippet stressed while 'top
company' Pritchard Group is in administration, subsidiary
companies are not and are trading as normal.

London company KPMG has been appointed administrators.

The Pritchard Group Plc is the company responsible for re-shaping
the face of South Staffordshire.


RANGERS FOOTBALL: Brian Kennedy, Blue Knights Make Joint Bid
------------------------------------------------------------
Gavin McCafferty at The Independent reports that Sale Sharks owner
Brian Kennedy and the Blue Knights have joined forces to submit a
"substantial" written offer to purchase Rangers.

The bid was submitted to the club's administrators Duff and Phelps
on Friday, April 27, at 3:00 p.m., the Independent relates.

The offer, the Independent says, is subject to a Company Voluntary
Agreement (CVA) being agreed with creditors and the acquisition of
current owner Craig Whyte's shares.

The Blue Knights were offered the chance to assume preferred
bidders' status two weeks ago, but potential partners Ticketus
would not pay the GBP500,000 exclusivity fee and they stepped back
from the process to allow the investment firm to complete a deal
with Bill Ng, the Independent notes.

That failed to materialize and Ticketus on Friday withdrew from
the Blue Knights consortium but the partnership with Mr. Kennedy,
who had an improved verbal offer previously rejected, is a new
development despite previous co-operation, the Independent
discloses.

Ticketus, the Independent says, will still have a hugely
significant role to play as they are currently the major creditors
-- before a looming tax tribunal decision -- and could block a
CVA.

The London-based firm could also be pivotal in the future of
Mr. Whyte's 85% shareholding, the Independent states.  Mr. Whyte
gave personal guarantees on capital provided by Ticketus, which
helped him complete his GBP1 takeover by paying off the club's
bank debt, the Independent notes.

According to the Independent, Ticketus could pursue Mr. Whyte for
any shortfall in the GBP26.7 million they are owed for future
season ticket sales and that could be used as leverage to take his
shares, if it provides a return to their investors.

Ticketus had been in talks over helping finance the Blue Knights'
bid in return for a guaranteed return of around GBP10 million, but
they confirmed this morning they were pulling out as they could
not justify their involvement to their investors, the Independent
relates.

                   About Rangers Football Club

Rangers Football Club PLC -- http://www.rangers.premiumtv.co.uk/
-- is a United Kingdom-based company engaged in the operation of
a professional football club.  The Company has launched its own
Internet television station, RANGERSTV.tv.  The station combines
the use of Internet television programming alongside traditional
Web-based services.  Services offered include the streaming of
home matches and on-demand streaming of domestic and European
games, which include dedicated pre-match, half-time and post-
match commentary.  The Company will produce dedicated news
magazine and feature programs, while the fans can also access a
library of classic European, Old Firm and Scottish Premier League
(SPL) action.  Its own dedicated television studio at Ibrox
provides onsite production, editing and encoding facilities to
produce content for distribution on all media platforms.


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


* S&P's 2012 Global Corporate Default Tally Rises to 29
-------------------------------------------------------
The 2012 global corporate default tally increased by one last week
after Brazil-based Lupatech S.A. selectively defaulted, said an
article published April 26 by Standard & Poor's Global Fixed
Income Research, titled Global Corporate Default Update (April 19
-- 25, 2012).

On April 23, Standard & Poor's Ratings Services lowered the
ratings on the capital goods company to 'SD' after it postponed
its debentures' interest payment due on April 15, 2012.  This
raises the global corporate default tally to 29 so far in 2012.

Of the total defaulters this year, 18 were based in the U.S., six
in the emerging markets, three in Europe, and two in the other
developed region (Australia, Canada, Japan, and New Zealand).  In
comparison, last year, only 13 issuers -- seven based in the U.S.,
two in New Zealand, two in the emerging markets, one in Europe,
and one in Canada -- defaulted during the same period (through
April 25).

So far this year, missed payments accounted for 12 defaults,
bankruptcy filings accounted for six, distressed exchanges were
responsible for four, and four defaulters were confidential. Of
the remaining defaults, one was the result of a notice of
acceleration by the issuer's lender, one was due to the company's
placement under regulatory supervision, and the last was due to a
judicial organization filing.

In 2011, 21 issuers defaulted because of missed interest or
principal payments, and 13 because of bankruptcy filings -- both
of which were among the top reasons for defaults in 2010.
Distressed exchanges -- another top reason for default in 2010 --
followed with 11 defaults in 2011.  Of the remaining defaults, two
issuers failed to finalize refinancing on bank loans, two were
subject to regulatory action, one had its banking license revoked
by its country's central bank, one was appointed a receiver, and
two were confidential.


* BOND PRICING: For the Week April 23 to April 27, 2012
-------------------------------------------------------

Issuer                  Coupon      Maturity Currency    Price
------                  ------      -------- --------    -----

AUSTRIA
-------
A-TEC INDUSTRIES          8.750    10/27/2014     EUR     30.75
A-TEC INDUSTRIES          5.750     11/2/2010     EUR     30.75
A-TEC INDUSTRIES          2.750     5/10/2014     EUR     30.75
BA CREDITANSTALT          5.470     8/28/2013     EUR     69.75
ERSTE BANK                6.000     7/31/2014     EUR     50.13
IMMOFINANZ                4.250      3/8/2018     EUR      3.82
KOMMUNALKREDIT            4.440    12/20/2030     EUR     64.13
KOMMUNALKREDIT            4.900     6/23/2031     EUR     68.13
OESTER VOLKSBK            4.750     4/30/2021     EUR     70.41
OESTER VOLKSBK            4.160     5/20/2025     EUR     70.15
OESTER VOLKSBK            5.270      2/8/2027     EUR     73.85
OESTER VOLKSBK            4.170     7/29/2015     EUR     65.38
OESTER VOLKSBK            4.810     7/29/2025     EUR     58.38
RAIFF CENTROBANK          7.646     1/23/2013     EUR     68.87
RAIFF CENTROBANK         11.718     7/25/2012     EUR     55.70
RAIFF CENTROBANK          7.812     7/25/2012     EUR     56.58
RAIFF CENTROBANK          7.965     1/23/2013     EUR     69.89
RAIFF CENTROBANK          8.283     1/23/2013     EUR     69.79
RAIFF CENTROBANK          9.558     1/23/2013     EUR     72.59
RAIFF CENTROBANK         11.718     7/25/2012     EUR     28.41
RAIFF CENTROBANK         10.416     7/20/2012     EUR     50.70
RAIFF CENTROBANK          8.463     7/25/2012     EUR     62.31
RAIFF CENTROBANK          7.812     7/20/2012     EUR     62.96
RAIFF CENTROBANK         10.090     7/25/2012     EUR     68.51
RAIFF CENTROBANK          9.114     7/25/2012     EUR     49.49
RAIFF CENTROBANK          5.208     7/25/2012     EUR     68.91
RAIFF CENTROBANK          7.161     7/25/2012     EUR     70.52
RAIFF CENTROBANK         10.090     7/25/2012     EUR     63.52
RAIFF CENTROBANK          9.876     1/23/2013     EUR     53.87
RAIFF CENTROBANK          7.812     7/25/2012     EUR     68.21
RAIFF CENTROBANK         11.000     5/24/2012     EUR     62.23
RAIFF CENTROBANK         11.000     5/24/2012     EUR     73.74
RAIFF CENTROBANK          7.161     7/20/2012     EUR     68.62
RAIFF ZENTRALBK           4.500     9/28/2035     EUR     66.47

BELGIUM
-------
ECONOCOM GROUP            4.000      6/1/2016     EUR     21.58
IDEAL STANDARD I         11.750      5/1/2018     EUR     49.50
IDEAL STANDARD I         11.750      5/1/2018     EUR     50.00

CYPRUS
------
CYPRUS GOVT BOND          4.500      4/2/2017     EUR     65.38
CYPRUS GOVT BOND          5.600     4/15/2017     EUR     71.42
CYPRUS GOVT BOND          4.500     9/28/2017     EUR     63.88
CYPRUS GOVT BOND          5.100     1/29/2018     EUR     65.38
CYPRUS GOVT BOND          4.600     4/23/2018     EUR     63.00
CYPRUS GOVT BOND          4.600    10/23/2018     EUR     62.00
CYPRUS GOVT BOND          4.600     2/26/2019     EUR     61.50
CYPRUS GOVT BOND          6.100     6/24/2019     EUR     67.50
CYPRUS GOVT BOND          4.625      2/3/2020     EUR     60.39
CYPRUS GOVT BOND          6.100     4/20/2020     EUR     66.63
CYPRUS GOVT BOND          5.350      6/9/2020     EUR     62.88
CYPRUS GOVT BOND          6.500     8/25/2021     EUR     65.13
CYPRUS GOVT BOND          4.500     2/15/2017     EUR     65.75
CYPRUS GOVT BOND          4.500      1/4/2017     EUR     66.13
CYPRUS GOVT BOND          6.600    10/26/2016     EUR     73.63
CYPRUS GOVT BOND          4.500     10/9/2016     EUR     67.13
CYPRUS GOVT BOND          4.500     7/11/2016     EUR     68.13
CYPRUS GOVT BOND          5.000      6/9/2016     EUR     70.00
CYPRUS GOVT BOND          4.500      6/2/2016     EUR     68.50
CYPRUS GOVT BOND          4.500     3/30/2016     EUR     69.38
CYPRUS GOVT BOND          4.500      1/2/2016     EUR     70.63
CYPRUS GOVT BOND          4.750     12/2/2015     EUR     71.88
CYPRUS GOVT BOND          3.750     11/1/2015     EUR     69.26
CYPRUS GOVT BOND          6.000      6/9/2021     EUR     63.88
CYPRUS GOVT BOND          4.750     9/30/2015     EUR     72.75
MARFIN POPULAR            4.350    11/20/2014     EUR     65.00
REP OF CYPRUS             4.750     2/25/2016     EUR     67.74

CZECH REPUBLIC
--------------
SAZKA                     9.000     7/12/2021     EUR     50.00

DENMARK
-------
KALMAR STRUCTRD           7.500     9/30/2013     EUR      0.01
KOMMUNEKREDIT             0.500     2/23/2017     ZAR     71.56
KOMMUNEKREDIT             0.500     1/25/2017     ZAR     72.02
KOMMUNEKREDIT             0.500    12/14/2020     ZAR     51.46

FINLAND
-------
MUNI FINANCE PLC          0.500     2/16/2017     TRY     72.77
MUNI FINANCE PLC          0.500    12/21/2016     TRY     72.64
MUNI FINANCE PLC          0.500     12/6/2016     TRY     72.99
MUNI FINANCE PLC          0.500    11/17/2016     ZAR     70.99
MUNI FINANCE PLC          0.500    10/27/2016     ZAR     71.37
MUNI FINANCE PLC          1.000     6/30/2017     ZAR     70.07
MUNI FINANCE PLC          0.500     4/26/2016     ZAR     74.62
MUNI FINANCE PLC          0.250     6/28/2040     CAD     18.88
MUNI FINANCE PLC          0.500     3/17/2025     CAD     51.49
MUNI FINANCE PLC          0.500     4/26/2022     ZAR     55.00
MUNI FINANCE PLC          0.500    12/21/2021     NZD     63.27
MUNI FINANCE PLC          0.500    11/10/2021     NZD     63.48
MUNI FINANCE PLC          0.500    11/25/2020     ZAR     46.87
MUNI FINANCE PLC          0.500    12/20/2018     ZAR     59.51
MUNI FINANCE PLC          0.500    12/14/2018     TRY     64.62
MUNI FINANCE PLC          0.500    11/21/2018     TRY     64.85
MUNI FINANCE PLC          0.500    11/21/2018     ZAR     58.10
MUNI FINANCE PLC          0.500     4/27/2018     ZAR     63.12
MUNI FINANCE PLC          0.500    11/16/2017     TRY     68.75
MUNI FINANCE PLC          0.500     9/24/2020     CAD     69.95
MUNI FINANCE PLC          0.500     4/26/2017     ZAR     68.14
MUNI FINANCE PLC          0.500    10/27/2016     TRY     73.31

FRANCE
------
AIR FRANCE-KLM            4.970      4/1/2015     EUR     10.53
ALCATEL-LUCENT            5.000      1/1/2015     EUR      2.95
ALTRAN TECHNOLOG          6.720      1/1/2015     EUR      5.09
ASSYSTEM                  4.000      1/1/2017     EUR     22.34
ATOS ORIGIN SA            2.500      1/1/2016     EUR     55.37
CAISSE CENT IMMO          7.000     5/16/2014     EUR     36.46
CAISSE CENT IMMO          7.000     5/18/2015     EUR     11.85
CAISSE CENT IMMO          7.000     9/10/2015     EUR     14.64
CALYON                    6.000     6/18/2047     EUR     40.87
CAP GEMINI SOGET          3.500      1/1/2014     EUR     37.93
CGG VERITAS               1.750      1/1/2016     EUR     29.06
CLUB MEDITERRANE          6.110     11/1/2015     EUR     18.59
CLUB MEDITERRANE          5.000      6/8/2012     EUR     14.71
CMA CGM                   8.500     4/15/2017     USD     59.50
CMA CGM                   8.875     4/15/2019     EUR     59.67
CMA CGM                   8.875     4/15/2019     EUR     59.55
CMA CGM                   8.500     4/15/2017     USD     60.00
CNP ASSURANCES            6.875     9/30/2041     EUR     73.41
CNP ASSURANCES            6.000     9/14/2040     EUR     71.58
CREDIT LOCAL FRA          3.750     5/26/2020     EUR     59.63
DEXIA CRED LOCAL          4.550      4/2/2020     EUR     64.42
DEXIA CRED LOCAL          5.037      8/4/2020     EUR     65.75
DEXIA CRED LOCAL          4.375     2/12/2019     EUR     55.59
DEXIA CRED LOCAL          4.110     9/18/2018     EUR     68.58
DEXIA CRED LOCAL          4.500     2/25/2020     EUR     64.39
DEXIA MUNI AGNCY          1.000    12/23/2024     EUR     68.63
EURAZEO                   6.250     6/10/2014     EUR     58.03
EXANE FINANCE            18.150     5/17/2012     CHF     44.95
FAURECIA                  4.500      1/1/2015     EUR     20.87
GROUPAMA SA               7.875    10/27/2039     EUR     57.07
GROUPE VIAL               2.500      1/1/2014     EUR      2.80
INGENICO                  2.750      1/1/2017     EUR     47.05
MAUREL ET PROM            7.125     7/31/2014     EUR     18.42
MAUREL ET PROM            7.125     7/31/2015     EUR     16.99
NEXANS SA                 2.500      1/1/2019     EUR     68.51
NEXANS SA                 4.000      1/1/2016     EUR     59.21
NOVASEP HLDG              9.625    12/15/2016     EUR     49.38
NOVASEP HLDG              9.625    12/15/2016     EUR     49.38
NOVASEP HLDG              9.750    12/15/2016     USD     48.38
NOVASEP HLDG              9.750    12/15/2016     USD     48.38
ORPEA                     3.875      1/1/2016     EUR     44.37
PAGESJAUNES FINA          8.875      6/1/2018     EUR     74.50
PAGESJAUNES FINA          8.875      6/1/2018     EUR     74.25
PEUGEOT SA                4.450      1/1/2016     EUR     24.50
PIERRE VACANCES           4.000     10/1/2015     EUR     74.36
PUBLICIS GROUPE           3.125     7/30/2014     EUR     37.82
PUBLICIS GROUPE           1.000     1/18/2018     EUR     51.29
SOC AIR FRANCE            2.750      4/1/2020     EUR     20.84
SOCIETE GENERALE          0.500      9/7/2021     AUD     47.24
SOCIETE GENERALE          0.500     12/6/2021     AUD     46.30
SOITEC                    6.250      9/9/2014     EUR      8.25
TEM                       4.250      1/1/2015     EUR     52.90
THEOLIA                   2.700      1/1/2041     EUR      8.37

GERMANY
-------
BAYERISCHE LNDBK          6.100     6/15/2012     EUR     39.10
BAYERISCHE LNDBK          5.100     6/29/2012     EUR     55.54
BAYERISCHE LNDBK          5.800     7/13/2012     EUR     50.50
BAYERISCHE LNDBK          3.200     10/1/2012     EUR     32.78
BAYERISCHE LNDBK          5.500     6/29/2012     EUR     54.45
BHF-BANK AG               7.250     6/15/2012     EUR     63.85
BHF-BANK AG              13.200      6/8/2012     EUR     46.35
BHW BAUSPARKASSE          4.270     1/15/2019     EUR     73.00
BNP EMIS-U.HANDE          9.500    12/31/2012     EUR     68.50
BNP EMIS-U.HANDE          7.750    12/31/2012     EUR     59.76
BNP EMIS-U.HANDE         10.500    12/28/2012     EUR     62.81
BNP EMIS-U.HANDE          9.750    12/28/2012     EUR     66.80
BNP EMIS-U.HANDE          8.500    12/28/2012     EUR     70.53
BNP EMIS-U.HANDE         10.000     7/26/2012     EUR     54.13
BNP EMIS-U.HANDE         10.000     7/26/2012     EUR     46.25
BNP EMIS-U.HANDE         10.000     7/26/2012     EUR     50.67
BNP EMIS-U.HANDE          9.000     7/26/2012     EUR     68.77
BNP EMIS-U.HANDE          9.000     7/26/2012     EUR     36.03
BNP EMIS-U.HANDE          9.000     7/26/2012     EUR     39.09
BNP EMIS-U.HANDE          9.000     7/26/2012     EUR     56.39
BNP EMIS-U.HANDE          9.000     7/26/2012     EUR     61.89
BNP EMIS-U.HANDE          9.000     7/26/2012     EUR     50.21
BNP EMIS-U.HANDE          8.500     7/26/2012     EUR     68.17
BNP EMIS-U.HANDE          8.000     7/26/2012     EUR     68.91
BNP EMIS-U.HANDE          8.000     7/26/2012     EUR     45.90
BNP EMIS-U.HANDE          8.000     7/26/2012     EUR     35.27
BNP EMIS-U.HANDE          8.000     7/26/2012     EUR     72.35
BNP EMIS-U.HANDE          7.000     7/26/2012     EUR     54.95
BNP EMIS-U.HANDE          7.000     7/26/2012     EUR     22.33
BNP EMIS-U.HANDE          7.000     7/26/2012     EUR     60.50
BNP EMIS-U.HANDE          7.000     7/26/2012     EUR     26.65
BNP EMIS-U.HANDE          6.500     7/26/2012     EUR     54.77
BNP EMIS-U.HANDE          6.500     7/26/2012     EUR     72.23
BNP EMIS-U.HANDE          6.000     7/26/2012     EUR     72.74
BNP EMIS-U.HANDE          6.000     7/26/2012     EUR     40.46
BNP EMIS-U.HANDE          6.000     7/26/2012     EUR     43.69
BNP EMIS-U.HANDE          6.000     7/26/2012     EUR     67.60
BNP EMIS-U.HANDE          6.000     7/26/2012     EUR     37.68
BNP EMIS-U.HANDE         19.250     6/21/2012     EUR      8.58
BNP EMIS-U.HANDE         18.250     6/21/2012     EUR      6.79
BNP EMIS-U.HANDE         16.000     6/21/2012     EUR     17.15
BNP EMIS-U.HANDE         15.500     6/21/2012     EUR     18.82
BNP EMIS-U.HANDE         15.000     6/21/2012     EUR     61.89
BNP EMIS-U.HANDE         14.250     6/21/2012     EUR     40.45
BNP EMIS-U.HANDE         13.750     6/21/2012     EUR     46.78
BNP EMIS-U.HANDE         13.500     6/21/2012     EUR     47.78
BNP EMIS-U.HANDE         12.000     6/21/2012     EUR     69.30
BNP EMIS-U.HANDE         11.750     6/21/2012     EUR     65.27
BNP EMIS-U.HANDE         11.750     6/21/2012     EUR     39.06
BNP EMIS-U.HANDE         11.500     6/21/2012     EUR     48.88
BNP EMIS-U.HANDE         11.250     6/21/2012     EUR     72.92
BNP EMIS-U.HANDE         11.000     6/21/2012     EUR     41.82
BNP EMIS-U.HANDE         11.000     6/21/2012     EUR     63.09
BNP EMIS-U.HANDE         10.500     6/21/2012     EUR     53.76
BNP EMIS-U.HANDE         10.500     6/21/2012     EUR     48.73
BNP EMIS-U.HANDE         10.500     6/21/2012     EUR     67.21
BNP EMIS-U.HANDE         10.250     6/21/2012     EUR     51.23
BNP EMIS-U.HANDE         10.250     6/21/2012     EUR     61.01
BNP EMIS-U.HANDE         10.000     6/21/2012     EUR     67.63
BNP EMIS-U.HANDE         10.000     6/21/2012     EUR     59.73
BNP EMIS-U.HANDE          9.500     6/21/2012     EUR     74.40
BNP EMIS-U.HANDE          9.500     6/21/2012     EUR     55.83
BNP EMIS-U.HANDE          9.500     6/21/2012     EUR     70.13
BNP EMIS-U.HANDE          9.250     6/21/2012     EUR     52.35
BNP EMIS-U.HANDE          9.250     6/21/2012     EUR     44.10
BNP EMIS-U.HANDE          9.250     6/21/2012     EUR     67.69
BNP EMIS-U.HANDE          9.000     6/21/2012     EUR     66.75
BNP EMIS-U.HANDE          8.750     6/21/2012     EUR     69.32
BNP EMIS-U.HANDE          8.500     6/21/2012     EUR     67.89
BNP EMIS-U.HANDE          8.500     6/21/2012     EUR     67.47
BNP EMIS-U.HANDE          8.500     6/21/2012     EUR     66.73
BNP EMIS-U.HANDE          8.500     6/21/2012     EUR     67.42
BNP EMIS-U.HANDE          8.250     6/21/2012     EUR     67.53
BNP EMIS-U.HANDE          8.250     6/21/2012     EUR     56.31
BNP EMIS-U.HANDE          8.250     6/21/2012     EUR     65.31
BNP EMIS-U.HANDE          7.750     6/21/2012     EUR     74.31
BNP EMIS-U.HANDE          7.750     6/21/2012     EUR     74.91
BNP EMIS-U.HANDE          7.750     6/21/2012     EUR     57.23
BNP EMIS-U.HANDE          7.500     6/21/2012     EUR     72.81
BNP EMIS-U.HANDE          7.500     6/21/2012     EUR     64.02
BNP EMIS-U.HANDE          7.250     6/21/2012     EUR     60.54
BNP EMIS-U.HANDE          7.000     6/21/2012     EUR     66.44
BNP EMIS-U.HANDE          6.750     6/21/2012     EUR     68.54
BNP EMIS-U.HANDE          7.000     5/24/2012     EUR     45.15
BNP EMIS-U.HANDE          5.250     5/24/2012     EUR     65.99
BNP EMIS-U.HANDE          9.000     4/26/2012     EUR     51.02
BNP EMIS-U.HANDE          6.000     4/26/2012     EUR     61.71
BNP EMIS-U.HANDE          6.000     4/26/2012     EUR     45.37
BNP EMIS-U.HANDE          5.000     4/26/2012     EUR     72.11
BNP EMIS-U.HANDE          5.000     4/26/2012     EUR     60.66
COMMERZBANK AG           11.500      7/6/2012     EUR      7.86
COMMERZBANK AG            5.000     3/30/2018     EUR     29.25
COMMERZBANK AG            8.400    12/30/2013     EUR     18.34
COMMERZBANK AG           14.000      8/5/2013     EUR     71.28
COMMERZBANK AG            8.000    12/27/2012     EUR     51.75
COMMERZBANK AG            7.000    12/27/2012     EUR     67.54
COMMERZBANK AG            6.000    12/27/2012     EUR     74.49
COMMERZBANK AG            8.500    12/17/2012     EUR     62.08
COMMERZBANK AG           11.500     11/5/2012     EUR     57.54
COMMERZBANK AG           10.000     11/5/2012     EUR     61.25
COMMERZBANK AG            8.000     11/5/2012     EUR     48.72
COMMERZBANK AG           10.000    10/29/2012     EUR     68.00
COMMERZBANK AG            9.000    10/29/2012     EUR      9.84
COMMERZBANK AG            8.500    10/29/2012     EUR     67.02
COMMERZBANK AG            9.000     10/1/2012     EUR     60.98
COMMERZBANK AG            7.700     9/28/2012     EUR     58.28
COMMERZBANK AG            9.000      8/3/2012     EUR     68.89
COMMERZBANK AG            8.500      8/3/2012     EUR     47.76
COMMERZBANK AG           12.000      7/6/2012     EUR     74.01
COMMERZBANK AG           10.500      7/6/2012     EUR     59.97
COMMERZBANK AG           19.500     6/22/2012     EUR     76.62
COMMERZBANK AG           16.000     6/22/2012     EUR     61.68
COMMERZBANK AG           11.500     6/22/2012     EUR     52.54
COMMERZBANK AG            8.000     6/22/2012     EUR     69.84
COMMERZBANK AG            8.000     6/22/2012     EUR     51.47
COMMERZBANK AG            7.500     6/22/2012     EUR     70.52
COMMERZBANK AG            8.750     6/21/2012     EUR     60.60
COMMERZBANK AG            9.000      6/4/2012     EUR     74.14
COMMERZBANK AG            8.000      6/4/2012     EUR     62.58
COMMERZBANK AG           12.500      5/7/2012     EUR     74.59
COMMERZBANK AG            8.000      5/7/2012     EUR     44.88
COMMERZBANK AG            7.250      5/7/2012     EUR     66.31
COMMERZBANK AG            7.250      5/7/2012     EUR     40.06
COMMERZBANK AG           12.100     4/27/2012     EUR     22.12
DEUTSCHE BANK AG          8.000     4/30/2012     EUR     52.40
DEUTSCHE BANK AG         10.000     7/31/2012     EUR     64.60
DEUTSCHE BANK AG         11.000     7/31/2012     EUR     75.00
DEUTSCHE BANK AG         10.000     6/29/2012     EUR     54.10
DEUTSCHE BANK AG          8.000     6/29/2012     EUR     67.20
DEUTSCHE BANK AG          8.000     6/29/2012     EUR     56.40
DEUTSCHE BANK AG          8.000    12/20/2012     EUR     47.90
DEUTSCHE BANK AG          8.000    12/20/2012     EUR     65.40
DEUTSCHE BANK AG         12.000    12/20/2012     EUR     50.30
DEUTSCHE BANK AG         12.000    12/20/2012     EUR     73.00
DEUTSCHE BANK AG         15.000    12/20/2012     EUR     70.20
DEUTSCHE BANK AG         15.000     2/20/2013     EUR     69.30
DEUTSCHE BANK AG         15.000     2/20/2013     EUR     71.40
DEUTSCHE BANK AG         15.000     2/20/2013     EUR     73.60
DEUTSCHE BANK AG          8.000     6/29/2012     EUR     69.40
DEUTSCHE BANK AG          7.000     4/30/2012     EUR     63.10
DEUTSCHE BANK AG          7.000     4/30/2012     EUR     69.50
DEUTSCHE BANK AG          7.000     4/30/2012     EUR     55.10
DEUTSCHE BANK AG          7.000     4/30/2012     EUR     73.30
DEUTSCHE BANK AG          8.000     6/29/2012     EUR     59.10
DEUTSCHE BANK AG          8.000     4/30/2012     EUR     76.30
DEUTSCHE BANK AG          8.000     4/30/2012     EUR     66.70
DEUTSCHE BANK AG          8.000     4/30/2012     EUR     60.60
DEUTSCHE BANK AG          8.000     4/30/2012     EUR     75.30
DEUTSCHE BANK AG          8.000     4/30/2012     EUR     70.30
DEUTSCHE BANK AG         10.000     4/30/2012     EUR     73.10
DEUTSCHE BANK AG         10.000     4/30/2012     EUR     66.80
DEUTSCHE BANK AG         10.000     4/30/2012     EUR     58.20
DEUTSCHE BANK AG         10.000     4/30/2012     EUR     71.60
DEUTSCHE BANK AG         10.000     4/30/2012     EUR     50.40
DEUTSCHE BANK AG         10.000     4/30/2012     EUR     63.30
DEUTSCHE BANK AG         11.000     4/30/2012     EUR     74.60
DEUTSCHE BANK AG          7.000     5/31/2012     EUR     59.10
DEUTSCHE BANK AG          7.000     5/31/2012     EUR     59.40
DEUTSCHE BANK AG         10.000     5/31/2012     EUR     55.40
DEUTSCHE BANK AG         10.000     5/31/2012     EUR     55.10
DEUTSCHE BANK AG         10.000     5/31/2012     EUR     67.20
DEUTSCHE BANK AG         11.000     5/31/2012     EUR     75.30
DEUTSCHE BANK AG         10.000     6/20/2012     EUR     69.40
DEUTSCHE BANK AG         14.000     6/20/2012     EUR     59.80
DEUTSCHE BANK AG          7.000     6/29/2012     EUR     72.10
DEUTSCHE BANK AG          7.000     6/29/2012     EUR     63.40
DEUTSCHE BANK AG          7.000     6/29/2012     EUR     69.80
DEUTSCHE BANK AG          7.000     6/29/2012     EUR     58.60
DEUTSCHE BANK AG          7.000     6/29/2012     EUR     63.70
DEUTSCHE BANK AG          8.000     6/29/2012     EUR     60.60
DEUTSCHE BANK AG          7.000     5/31/2012     EUR     72.80
DEUTSCHE BANK AG          7.000     5/31/2012     EUR     62.90
DEUTSCHE BANK AG          8.000     5/31/2012     EUR     57.00
DEUTSCHE BANK AG          8.000     5/31/2012     EUR     73.60
DEUTSCHE BANK AG          8.000     5/31/2012     EUR     69.80
DEUTSCHE BANK AG          8.000     5/31/2012     EUR     58.70
DEUTSCHE BANK AG         10.000     6/29/2012     EUR     67.00
DEUTSCHE BANK AG          8.000     5/31/2012     EUR     56.20
DEUTSCHE BANK AG         10.000     5/31/2012     EUR     54.40
DEUTSCHE BANK AG         10.000     5/31/2012     EUR     70.10
DEUTSCHE BANK AG         10.000     6/29/2012     EUR     59.30
DEUTSCHE BANK AG         10.000     6/29/2012     EUR     55.60
DEUTSCHE BANK AG         10.000     6/29/2012     EUR     64.60
DEUTSCHE BANK AG         11.000     6/29/2012     EUR     75.40
DEUTSCHE BANK AG          7.000     7/31/2012     EUR     71.10
DEUTSCHE BANK AG          7.000     7/31/2012     EUR     66.40
DEUTSCHE BANK AG          7.000     7/31/2012     EUR     71.30
DEUTSCHE BANK AG          7.000     7/31/2012     EUR     68.70
DEUTSCHE BANK AG          8.000     7/31/2012     EUR     73.70
DEUTSCHE BANK AG          8.000     7/31/2012     EUR     68.90
DEUTSCHE BANK AG          8.000     7/31/2012     EUR     65.50
DEUTSCHE BANK AG          8.000     7/31/2012     EUR     68.50
DEUTSCHE BANK AG          8.000     7/31/2012     EUR     64.10
DEUTSCHE BANK AG         10.000     7/31/2012     EUR     61.50
DEUTSCHE BANK AG         10.000     7/31/2012     EUR     71.70
DEUTSCHE BANK AG         10.000     7/31/2012     EUR     66.50
DEUTSCHE BANK AG         10.000     7/31/2012     EUR     64.30
DRESDNER BANK AG          5.450     2/22/2029     EUR     10.91
DRESDNER BANK AG          7.350     6/13/2028     EUR     74.75
DRESDNER BANK AG          5.700     7/31/2023     EUR     68.50
DRESDNER BANK AG          6.180     2/28/2023     EUR     72.63
DRESDNER BANK AG          5.290     5/31/2021     EUR     71.63
DRESDNER BANK AG          6.210     6/20/2022     EUR     74.38
DZ BANK AG               21.250     8/10/2012     EUR     65.78
DZ BANK AG                7.250     4/27/2012     EUR     53.74
DZ BANK AG                8.250     4/27/2012     EUR     69.07
DZ BANK AG                9.000     4/27/2012     EUR     44.57
DZ BANK AG               10.000     4/27/2012     EUR     59.30
DZ BANK AG               11.250     4/27/2012     EUR     51.49
DZ BANK AG               15.500     4/27/2012     EUR     64.60
DZ BANK AG               16.500     4/27/2012     EUR      0.51
DZ BANK AG               17.750     4/27/2012     EUR     71.47
DZ BANK AG                9.250     5/11/2012     EUR     64.89
DZ BANK AG               17.000     5/25/2012     EUR     74.25
DZ BANK AG               18.000     5/25/2012     EUR     74.14
DZ BANK AG                8.000      6/7/2012     EUR     70.00
DZ BANK AG                6.000      6/8/2012     EUR     64.66
DZ BANK AG                6.750      6/8/2012     EUR     55.95
DZ BANK AG                7.500      6/8/2012     EUR     64.00
DZ BANK AG                7.750      6/8/2012     EUR     70.87
DZ BANK AG                8.000      6/8/2012     EUR     68.81
DZ BANK AG                8.000      6/8/2012     EUR     69.74
DZ BANK AG                8.750      6/8/2012     EUR     71.23
DZ BANK AG                9.000      6/8/2012     EUR     58.81
DZ BANK AG                9.250      6/8/2012     EUR     57.34
DZ BANK AG                9.500      6/8/2012     EUR     71.52
DZ BANK AG                9.750      6/8/2012     EUR     72.85
DZ BANK AG                9.750      6/8/2012     EUR     72.44
DZ BANK AG               10.500      6/8/2012     EUR     48.96
DZ BANK AG               10.750      6/8/2012     EUR     71.63
DZ BANK AG               11.250      6/8/2012     EUR     52.84
DZ BANK AG               12.250      6/8/2012     EUR     71.03
DZ BANK AG                8.000     6/11/2012     EUR     65.30
DZ BANK AG                4.000     6/20/2012     EUR     66.86
DZ BANK AG                4.400     6/21/2012     EUR     74.22
DZ BANK AG                7.200     6/21/2012     EUR     69.98
DZ BANK AG               10.900     6/21/2012     EUR     66.38
DZ BANK AG                5.250     6/22/2012     EUR     65.73
DZ BANK AG                5.500     6/22/2012     EUR     72.84
DZ BANK AG                6.250     6/22/2012     EUR     64.43
DZ BANK AG                6.750     6/22/2012     EUR     73.14
DZ BANK AG                7.000     6/22/2012     EUR     75.35
DZ BANK AG                7.250     6/22/2012     EUR     68.14
DZ BANK AG                7.250     6/22/2012     EUR     67.04
DZ BANK AG                7.500     6/22/2012     EUR     69.06
DZ BANK AG                7.750     6/22/2012     EUR     71.40
DZ BANK AG                8.000     6/22/2012     EUR     41.02
DZ BANK AG                8.250     6/22/2012     EUR     67.06
DZ BANK AG                8.250     6/22/2012     EUR     71.68
DZ BANK AG                8.500     6/22/2012     EUR     69.63
DZ BANK AG                8.750     6/22/2012     EUR     69.28
DZ BANK AG                8.750     6/22/2012     EUR     71.56
DZ BANK AG                9.000     6/22/2012     EUR     29.79
DZ BANK AG                9.000     6/22/2012     EUR     54.19
DZ BANK AG                9.000     6/22/2012     EUR     73.09
DZ BANK AG                9.750     6/22/2012     EUR     69.69
DZ BANK AG                9.750     6/22/2012     EUR     54.58
DZ BANK AG                9.750     6/22/2012     EUR     67.18
DZ BANK AG                9.750     6/22/2012     EUR     70.82
DZ BANK AG               10.000     6/22/2012     EUR     61.34
DZ BANK AG               10.000     6/22/2012     EUR     66.48
DZ BANK AG               10.000     6/22/2012     EUR     66.05
DZ BANK AG               10.500     6/22/2012     EUR     37.37
DZ BANK AG               10.500     6/22/2012     EUR     70.30
DZ BANK AG               10.750     6/22/2012     EUR     70.78
DZ BANK AG               10.750     6/22/2012     EUR     52.80
DZ BANK AG               11.000     6/22/2012     EUR     35.56
DZ BANK AG               11.000     6/22/2012     EUR     51.27
DZ BANK AG               11.250     6/22/2012     EUR     44.18
DZ BANK AG               11.750     6/22/2012     EUR     70.86
DZ BANK AG               11.750     6/22/2012     EUR     42.72
DZ BANK AG               11.750     6/22/2012     EUR     47.31
DZ BANK AG               12.000     6/22/2012     EUR     49.91
DZ BANK AG               13.000     6/22/2012     EUR     40.61
DZ BANK AG               13.750     6/22/2012     EUR     72.19
DZ BANK AG               13.750     6/22/2012     EUR     63.28
DZ BANK AG               16.000     6/22/2012     EUR      7.49
DZ BANK AG                7.000     7/11/2012     EUR     73.02
DZ BANK AG                5.000     7/13/2012     EUR     66.63
DZ BANK AG                6.200     7/13/2012     EUR     73.98
DZ BANK AG                6.750     7/13/2012     EUR     69.28
DZ BANK AG                7.000     7/13/2012     EUR     65.46
DZ BANK AG                7.250     7/13/2012     EUR     73.20
DZ BANK AG                7.250     7/13/2012     EUR     73.20
DZ BANK AG                7.250     7/13/2012     EUR     65.60
DZ BANK AG                7.500     7/13/2012     EUR     54.19
DZ BANK AG                8.250     7/13/2012     EUR     69.63
DZ BANK AG                8.500     7/13/2012     EUR     59.84
DZ BANK AG                8.500     7/13/2012     EUR     56.22
DZ BANK AG                9.250     7/13/2012     EUR     72.03
DZ BANK AG               10.250     7/13/2012     EUR     73.70
DZ BANK AG               12.500     7/13/2012     EUR     60.06
DZ BANK AG                6.000     7/27/2012     EUR     72.92
DZ BANK AG                6.500     7/27/2012     EUR     69.31
DZ BANK AG                7.500     7/27/2012     EUR     72.05
DZ BANK AG                8.000     7/27/2012     EUR     70.28
DZ BANK AG                8.000     7/27/2012     EUR     57.86
DZ BANK AG                9.000     7/27/2012     EUR     73.13
DZ BANK AG                9.250     7/27/2012     EUR     71.40
DZ BANK AG                9.250     7/27/2012     EUR     73.98
DZ BANK AG                9.800     7/27/2012     EUR     66.79
DZ BANK AG               10.000     7/27/2012     EUR     63.13
DZ BANK AG               10.500     7/27/2012     EUR     65.53
DZ BANK AG               10.750     7/27/2012     EUR     53.81
DZ BANK AG               11.250     7/27/2012     EUR     76.77
DZ BANK AG               11.250     7/27/2012     EUR     71.86
DZ BANK AG               11.250     7/27/2012     EUR     62.88
DZ BANK AG               11.500     7/27/2012     EUR     53.69
DZ BANK AG               12.000     7/27/2012     EUR     74.22
DZ BANK AG               12.000     7/27/2012     EUR     66.28
DZ BANK AG               12.500     7/27/2012     EUR     67.36
DZ BANK AG               14.750     7/27/2012     EUR     69.75
DZ BANK AG               15.000     7/27/2012     EUR     49.59
DZ BANK AG               15.250     7/27/2012     EUR     57.97
DZ BANK AG                5.000     8/10/2012     EUR     73.71
DZ BANK AG               10.750     8/24/2012     EUR     68.34
DZ BANK AG               16.500     8/24/2012     EUR     71.27
DZ BANK AG                5.000     9/14/2012     EUR     61.75
DZ BANK AG                5.850     9/14/2012     EUR     66.66
DZ BANK AG                6.250     9/14/2012     EUR     62.16
DZ BANK AG                7.250     9/14/2012     EUR     72.92
DZ BANK AG                7.500     9/14/2012     EUR     65.94
DZ BANK AG                8.000     9/14/2012     EUR     57.45
DZ BANK AG                8.500     9/14/2012     EUR     60.42
DZ BANK AG               10.250     9/14/2012     EUR     73.47
DZ BANK AG               10.500     9/14/2012     EUR     55.27
DZ BANK AG               14.750     9/28/2012     EUR     68.09
DZ BANK AG               22.000     9/28/2012     EUR     73.78
DZ BANK AG                4.500     10/5/2012     EUR     58.28
DZ BANK AG                5.700     10/5/2012     EUR     56.35
DZ BANK AG                8.300     10/5/2012     EUR     53.09
DZ BANK AG                7.000    10/12/2012     EUR     55.77
DZ BANK AG                7.000    10/12/2012     EUR     69.05
DZ BANK AG                8.000    10/12/2012     EUR     55.59
DZ BANK AG                9.500    10/12/2012     EUR     74.17
DZ BANK AG               16.000    11/23/2012     EUR     68.17
DZ BANK AG                5.000    12/14/2012     EUR     74.48
DZ BANK AG                3.850    12/21/2012     EUR     17.90
DZ BANK AG                6.000      1/2/2013     EUR     67.86
DZ BANK AG               14.000     1/11/2013     EUR     64.84
DZ BANK AG               13.750      3/8/2013     EUR     72.00
DZ BANK AG                5.000     3/22/2013     EUR     17.90
DZ BANK AG                5.000     3/22/2013     EUR     17.50
DZ BANK AG                5.410     3/22/2013     EUR     17.50
DZ BANK AG               18.000     3/22/2013     EUR     73.71
DZ BANK AG                5.000     6/24/2013     EUR     17.90
DZ BANK AG                5.270     6/24/2013     EUR     17.90
DZ BANK AG                5.760    12/23/2013     EUR     75.26
DZ BANK AG                3.400     3/25/2015     EUR     69.05
DZ BANK AG                5.000     6/22/2018     EUR     51.16
ESCADA AG                 7.500      4/1/2012     EUR      8.34
EUROHYPO AG               3.830     9/21/2020     EUR     69.88
GOTHAER ALLG VER          5.527     9/29/2026     EUR     74.10
HECKLER & KOCH            9.500     5/15/2018     EUR     63.89
HECKLER & KOCH            9.500     5/15/2018     EUR     64.00
HEIDELBERG DRUCK          9.250     4/15/2018     EUR     74.50
HEIDELBERG DRUCK          9.250     4/15/2018     EUR     74.68
HSBC TRINKAUS            26.000     6/28/2013     EUR     64.71
HSBC TRINKAUS            12.000     6/22/2012     EUR     62.07
HSBC TRINKAUS            25.500     6/28/2013     EUR     73.58
HSBC TRINKAUS            19.000     9/28/2012     EUR     76.83
HSBC TRINKAUS            27.500     3/22/2013     EUR     62.21
HSBC TRINKAUS            22.500     6/28/2013     EUR     73.77
HSBC TRINKAUS            20.000     9/28/2012     EUR     76.56
HSBC TRINKAUS            27.000     3/22/2013     EUR     72.14
HSBC TRINKAUS            30.000     6/28/2013     EUR     65.38
L-BANK FOERDERBK          0.500     5/10/2027     CAD     49.01
LANDESBK BERLIN           5.500    12/23/2013     EUR     72.85
LB BADEN-WUERTT          10.000     8/24/2012     EUR     70.52
LB BADEN-WUERTT          10.000     8/24/2012     EUR     63.55
LB BADEN-WUERTT          10.000     8/24/2012     EUR     67.62
LB BADEN-WUERTT          10.000     8/24/2012     EUR     63.48
LB BADEN-WUERTT          10.000     8/24/2012     EUR     77.13
LB BADEN-WUERTT          10.000     8/24/2012     EUR     72.42
LB BADEN-WUERTT          10.000     8/24/2012     EUR     41.82
LB BADEN-WUERTT          10.000     8/24/2012     EUR     62.06
LB BADEN-WUERTT           8.000     8/24/2012     EUR     68.96
LB BADEN-WUERTT           8.000     8/24/2012     EUR     71.97
LB BADEN-WUERTT           8.000     8/24/2012     EUR     62.11
LB BADEN-WUERTT           8.000     8/24/2012     EUR     49.68
LB BADEN-WUERTT           8.000     8/24/2012     EUR     70.40
LB BADEN-WUERTT           8.000     8/24/2012     EUR     38.38
LB BADEN-WUERTT           8.000     8/24/2012     EUR     65.67
LB BADEN-WUERTT           8.000     8/24/2012     EUR     72.79
LB BADEN-WUERTT           8.000     8/24/2012     EUR     60.98
LB BADEN-WUERTT           8.000     8/24/2012     EUR     70.03
LB BADEN-WUERTT           8.000     8/24/2012     EUR     60.23
LB BADEN-WUERTT           7.500     8/24/2012     EUR     48.29
LB BADEN-WUERTT           7.500     8/24/2012     EUR     72.42
LB BADEN-WUERTT           7.500     8/24/2012     EUR     73.39
LB BADEN-WUERTT           7.500     8/24/2012     EUR     74.20
LB BADEN-WUERTT           7.500     8/24/2012     EUR     69.67
LB BADEN-WUERTT           7.500     8/24/2012     EUR     44.62
LB BADEN-WUERTT           7.500     8/24/2012     EUR     61.95
LB BADEN-WUERTT           7.500     8/24/2012     EUR     66.61
LB BADEN-WUERTT           7.500     8/24/2012     EUR     67.64
LB BADEN-WUERTT           7.500     8/24/2012     EUR     66.51
LB BADEN-WUERTT           7.500     8/24/2012     EUR     73.12
LB BADEN-WUERTT           7.500     8/24/2012     EUR     23.91
LB BADEN-WUERTT           6.000     8/24/2012     EUR     53.62
LB BADEN-WUERTT           6.000     8/24/2012     EUR     70.01
LB BADEN-WUERTT           6.000     8/24/2012     EUR     42.05
LB BADEN-WUERTT           6.000     8/24/2012     EUR     64.77
LB BADEN-WUERTT           6.000     8/24/2012     EUR     71.28
LB BADEN-WUERTT           6.000     8/24/2012     EUR     73.95
LB BADEN-WUERTT           6.000     8/24/2012     EUR     68.04
LB BADEN-WUERTT           5.000     8/24/2012     EUR     52.55
LB BADEN-WUERTT           5.000     8/24/2012     EUR     26.25
LB BADEN-WUERTT           5.000     8/24/2012     EUR     74.83
LB BADEN-WUERTT           5.000     8/24/2012     EUR     73.80
LB BADEN-WUERTT           5.000     8/24/2012     EUR     69.64
LB BADEN-WUERTT           5.000     8/24/2012     EUR     74.27
LB BADEN-WUERTT           5.000     8/24/2012     EUR     49.14
LB BADEN-WUERTT           4.000     8/24/2012     EUR     71.16
LB BADEN-WUERTT           4.000     8/24/2012     EUR     59.92
LB BADEN-WUERTT           4.000     8/24/2012     EUR     48.62
LB BADEN-WUERTT          10.000     7/27/2012     EUR     59.45
LB BADEN-WUERTT          10.000     7/27/2012     EUR     75.95
LB BADEN-WUERTT          10.000     7/27/2012     EUR     51.95
LB BADEN-WUERTT          10.000     7/27/2012     EUR     54.03
LB BADEN-WUERTT          10.000     7/27/2012     EUR     56.95
LB BADEN-WUERTT          10.000     7/27/2012     EUR     12.71
LB BADEN-WUERTT          10.000     7/27/2012     EUR     63.82
LB BADEN-WUERTT          10.000     7/27/2012     EUR     71.71
LB BADEN-WUERTT          10.000     7/27/2012     EUR     67.92
LB BADEN-WUERTT          10.000     7/27/2012     EUR     60.19
LB BADEN-WUERTT          10.000     7/27/2012     EUR     68.81
LB BADEN-WUERTT          10.000     7/27/2012     EUR     53.38
LB BADEN-WUERTT          10.000     7/27/2012     EUR     66.89
LB BADEN-WUERTT          10.000     7/27/2012     EUR     59.31
LB BADEN-WUERTT          10.000     7/27/2012     EUR     41.01
LB BADEN-WUERTT          10.000     7/27/2012     EUR     66.20
LB BADEN-WUERTT          10.000     7/27/2012     EUR     19.50
LB BADEN-WUERTT           5.250    10/20/2015     EUR     26.20
LB BADEN-WUERTT           2.800     2/23/2037     JPY     58.51
LB BADEN-WUERTT          10.000     7/27/2012     EUR     27.75
LB BADEN-WUERTT          10.000     7/27/2012     EUR     76.85
LB BADEN-WUERTT          10.000     7/27/2012     EUR     61.09
LB BADEN-WUERTT           9.000     7/27/2012     EUR     65.32
LB BADEN-WUERTT           8.000     7/27/2012     EUR     72.82
LB BADEN-WUERTT          10.000     6/28/2013     EUR     73.99
LB BADEN-WUERTT          10.000     7/27/2012     EUR     74.57
LB BADEN-WUERTT           8.000     7/27/2012     EUR     71.12
LB BADEN-WUERTT           8.000     7/27/2012     EUR     68.81
LB BADEN-WUERTT           8.000     7/27/2012     EUR     71.02
LB BADEN-WUERTT           7.500     6/28/2013     EUR     69.09
LB BADEN-WUERTT           5.000     6/28/2013     EUR     68.06
LB BADEN-WUERTT           8.000     7/27/2012     EUR     41.76
LB BADEN-WUERTT           8.000     7/27/2012     EUR     71.79
LB BADEN-WUERTT           7.500     7/27/2012     EUR     65.05
LB BADEN-WUERTT           7.500     7/27/2012     EUR     65.55
LB BADEN-WUERTT           7.500     7/27/2012     EUR     43.94
LB BADEN-WUERTT           7.500     7/27/2012     EUR     73.28
LB BADEN-WUERTT           7.500     7/27/2012     EUR     71.94
LB BADEN-WUERTT           7.500     7/27/2012     EUR     20.28
LB BADEN-WUERTT           7.500     7/27/2012     EUR     62.23
LB BADEN-WUERTT           7.500     7/27/2012     EUR     57.15
LB BADEN-WUERTT           7.500     7/27/2012     EUR     63.50
LB BADEN-WUERTT           7.500     7/27/2012     EUR     71.31
LB BADEN-WUERTT           7.500     7/27/2012     EUR     64.91
LB BADEN-WUERTT           8.000     7/27/2012     EUR     45.50
LB BADEN-WUERTT           7.500     7/27/2012     EUR     12.07
LB BADEN-WUERTT           7.500     7/27/2012     EUR     56.91
LB BADEN-WUERTT           7.500     7/27/2012     EUR     57.31
LB BADEN-WUERTT           6.000     7/27/2012     EUR     33.42
LB BADEN-WUERTT           6.000     7/27/2012     EUR     73.77
LB BADEN-WUERTT           6.000     7/27/2012     EUR     46.12
LB BADEN-WUERTT          15.000     2/22/2013     EUR     66.27
LB BADEN-WUERTT          10.000     2/22/2013     EUR     73.35
LB BADEN-WUERTT           6.000     7/27/2012     EUR     50.12
LB BADEN-WUERTT           6.000     7/27/2012     EUR     76.25
LB BADEN-WUERTT           5.000     7/27/2012     EUR     32.24
LB BADEN-WUERTT           5.000     7/27/2012     EUR     62.37
LB BADEN-WUERTT           5.000     7/27/2012     EUR     72.23
LB BADEN-WUERTT           5.000     7/27/2012     EUR     70.17
LB BADEN-WUERTT           5.000     7/27/2012     EUR     11.20
LB BADEN-WUERTT          10.000    10/26/2012     EUR     54.85
LB BADEN-WUERTT           7.500    10/26/2012     EUR     74.54
LB BADEN-WUERTT           7.500    10/26/2012     EUR      7.88
LB BADEN-WUERTT           7.500    10/26/2012     EUR     58.72
LB BADEN-WUERTT           7.500    10/26/2012     EUR     19.88
LB BADEN-WUERTT           7.500    10/26/2012     EUR     61.41
LB BADEN-WUERTT           7.500    10/26/2012     EUR     68.84
LB BADEN-WUERTT           7.500    10/26/2012     EUR     59.45
LB BADEN-WUERTT           5.000    10/26/2012     EUR     65.37
LB BADEN-WUERTT           5.000    10/26/2012     EUR     70.75
LB BADEN-WUERTT           5.000    10/26/2012     EUR      7.20
LB BADEN-WUERTT           5.000    10/26/2012     EUR     67.36
LB BADEN-WUERTT           5.000    10/26/2012     EUR     21.25
LB BADEN-WUERTT           8.000     9/28/2012     EUR     74.21
LB BADEN-WUERTT           8.000     9/28/2012     EUR     63.37
LB BADEN-WUERTT           8.000     9/28/2012     EUR     22.48
LB BADEN-WUERTT           8.000     9/28/2012     EUR     58.27
LB BADEN-WUERTT           8.000     9/28/2012     EUR     68.13
LB BADEN-WUERTT           8.000     9/28/2012     EUR     43.49
LB BADEN-WUERTT           8.000     9/28/2012     EUR     55.57
LB BADEN-WUERTT           6.000     9/28/2012     EUR     46.95
LB BADEN-WUERTT           6.000     9/28/2012     EUR     60.54
LB BADEN-WUERTT           6.000     9/28/2012     EUR     70.69
LB BADEN-WUERTT           6.000     9/28/2012     EUR     24.52
LB BADEN-WUERTT           6.000     9/28/2012     EUR     63.58
LB BADEN-WUERTT           5.000     9/28/2012     EUR     74.88
LB BADEN-WUERTT           4.000     9/28/2012     EUR     28.75
LB BADEN-WUERTT           4.000     9/28/2012     EUR     68.96
LB BADEN-WUERTT           4.000     9/28/2012     EUR     53.87
LB BADEN-WUERTT           4.000     9/28/2012     EUR     71.77
LB BADEN-WUERTT          10.000     8/24/2012     EUR     42.46
LB BADEN-WUERTT          10.000     8/24/2012     EUR     70.05
LB BADEN-WUERTT          10.000     8/24/2012     EUR     75.32
LB BADEN-WUERTT          10.000     8/24/2012     EUR     61.41
LB BADEN-WUERTT          10.000     8/24/2012     EUR     56.75
LB BADEN-WUERTT          10.000     8/24/2012     EUR     70.11
LB BADEN-WUERTT          10.000     8/24/2012     EUR     22.81
LB BADEN-WUERTT          10.000     8/24/2012     EUR     68.50
LB BADEN-WUERTT           7.500     7/27/2012     EUR     29.70
LB BADEN-WUERTT           4.000     5/25/2012     EUR     59.99
LB BADEN-WUERTT           4.000     5/25/2012     EUR     66.52
LB BADEN-WUERTT           4.000     5/25/2012     EUR     54.05
LB BADEN-WUERTT           4.000     5/25/2012     EUR     74.21
LB BADEN-WUERTT          10.000     1/25/2013     EUR     74.30
LB BADEN-WUERTT          10.000     1/25/2013     EUR     70.37
LB BADEN-WUERTT          10.000     1/25/2013     EUR     68.81
LB BADEN-WUERTT          10.000     1/25/2013     EUR     69.68
LB BADEN-WUERTT          10.000     1/25/2013     EUR     26.94
LB BADEN-WUERTT          10.000     1/25/2013     EUR     72.50
LB BADEN-WUERTT          10.000     1/25/2013     EUR     65.39
LB BADEN-WUERTT           7.500     1/25/2013     EUR     72.34
LB BADEN-WUERTT           7.500     1/25/2013     EUR     75.18
LB BADEN-WUERTT           7.500     1/25/2013     EUR     27.43
LB BADEN-WUERTT           7.500     1/25/2013     EUR     72.54
LB BADEN-WUERTT           7.500     1/25/2013     EUR     72.54
LB BADEN-WUERTT           7.500     1/25/2013     EUR     71.22
LB BADEN-WUERTT           5.000     1/25/2013     EUR     70.47
LB BADEN-WUERTT           5.000     1/25/2013     EUR     29.09
LB BADEN-WUERTT          10.000      1/4/2013     EUR     72.80
LB BADEN-WUERTT          10.000      1/4/2013     EUR     43.72
LB BADEN-WUERTT          10.000      1/4/2013     EUR     60.45
LB BADEN-WUERTT          10.000      1/4/2013     EUR     21.55
LB BADEN-WUERTT          10.000      1/4/2013     EUR     69.09
LB BADEN-WUERTT          10.000      1/4/2013     EUR     60.82
LB BADEN-WUERTT          10.000      1/4/2013     EUR     68.72
LB BADEN-WUERTT          10.000      1/4/2013     EUR     68.13
LB BADEN-WUERTT           7.500      1/4/2013     EUR     45.69
LB BADEN-WUERTT           7.500      1/4/2013     EUR     65.61
LB BADEN-WUERTT           7.500      1/4/2013     EUR     21.33
LB BADEN-WUERTT           7.500      1/4/2013     EUR     73.01
LB BADEN-WUERTT           7.500      1/4/2013     EUR     64.29
LB BADEN-WUERTT           7.500      1/4/2013     EUR     72.11
LB BADEN-WUERTT           7.500      1/4/2013     EUR     66.40
LB BADEN-WUERTT           5.000      1/4/2013     EUR     72.45
LB BADEN-WUERTT           5.000      1/4/2013     EUR     64.66
LB BADEN-WUERTT           5.000      1/4/2013     EUR     71.72
LB BADEN-WUERTT           5.000      1/4/2013     EUR     22.32
LB BADEN-WUERTT           5.000      1/4/2013     EUR     72.40
LB BADEN-WUERTT           5.000      1/4/2013     EUR     51.38
LB BADEN-WUERTT          15.000    11/23/2012     EUR     61.98
LB BADEN-WUERTT          10.000    11/23/2012     EUR     52.57
LB BADEN-WUERTT          10.000    11/23/2012     EUR     55.23
LB BADEN-WUERTT          10.000    11/23/2012     EUR     73.70
LB BADEN-WUERTT          10.000    11/23/2012     EUR     61.46
LB BADEN-WUERTT          10.000    11/23/2012     EUR     63.40
LB BADEN-WUERTT          10.000    11/23/2012     EUR     51.10
LB BADEN-WUERTT          10.000    11/23/2012     EUR     20.36
LB BADEN-WUERTT          10.000    11/23/2012     EUR     66.75
LB BADEN-WUERTT          10.000    11/23/2012     EUR     70.09
LB BADEN-WUERTT           7.500    11/23/2012     EUR     73.88
LB BADEN-WUERTT           7.500    11/23/2012     EUR     68.05
LB BADEN-WUERTT           7.500    11/23/2012     EUR     55.11
LB BADEN-WUERTT           7.500    11/23/2012     EUR     66.56
LB BADEN-WUERTT           7.500    11/23/2012     EUR     60.56
LB BADEN-WUERTT           7.500    11/23/2012     EUR     56.62
LB BADEN-WUERTT           7.500    11/23/2012     EUR     20.67
LB BADEN-WUERTT           7.500    11/23/2012     EUR     75.08
LB BADEN-WUERTT           5.000    11/23/2012     EUR     74.65
LB BADEN-WUERTT           5.000    11/23/2012     EUR     63.17
LB BADEN-WUERTT           5.000    11/23/2012     EUR     68.46
LB BADEN-WUERTT           5.000    11/23/2012     EUR     62.39
LB BADEN-WUERTT           5.000    11/23/2012     EUR     21.66
LB BADEN-WUERTT          10.000    10/26/2012     EUR     19.44
LB BADEN-WUERTT          10.000    10/26/2012     EUR     55.81
LB BADEN-WUERTT          10.000    10/26/2012     EUR     71.67
LB BADEN-WUERTT          10.000    10/26/2012     EUR     69.62
LB BADEN-WUERTT          10.000    10/26/2012     EUR     64.00
LB BADEN-WUERTT          10.000    10/26/2012     EUR     77.17
LB BADEN-WUERTT          10.000    10/26/2012     EUR      8.47
LB BADEN-WUERTT          10.000    10/26/2012     EUR     55.48
LB BADEN-WUERTT           6.000     5/25/2012     EUR     75.59
LB BADEN-WUERTT           5.000     7/27/2012     EUR     58.65
LB BADEN-WUERTT           5.000     7/27/2012     EUR     73.04
LB BADEN-WUERTT           5.000     7/27/2012     EUR     68.79
LB BADEN-WUERTT           5.000     7/27/2012     EUR     64.51
LB BADEN-WUERTT           5.000     7/27/2012     EUR     62.36
LB BADEN-WUERTT           5.000     7/27/2012     EUR     48.70
LB BADEN-WUERTT           5.000     7/27/2012     EUR     21.58
LB BADEN-WUERTT           5.000     7/27/2012     EUR     72.63
LB BADEN-WUERTT           4.000     7/27/2012     EUR     59.15
LB BADEN-WUERTT           4.000     7/27/2012     EUR     51.67
LB BADEN-WUERTT          10.000     6/22/2012     EUR     65.69
LB BADEN-WUERTT          10.000     6/22/2012     EUR     17.93
LB BADEN-WUERTT          10.000     6/22/2012     EUR     75.02
LB BADEN-WUERTT          10.000     6/22/2012     EUR     49.42
LB BADEN-WUERTT          10.000     6/22/2012     EUR     69.01
LB BADEN-WUERTT          10.000     6/22/2012     EUR     62.38
LB BADEN-WUERTT          10.000     6/22/2012     EUR     58.55
LB BADEN-WUERTT          10.000     6/22/2012     EUR     53.79
LB BADEN-WUERTT          10.000     6/22/2012     EUR      6.54
LB BADEN-WUERTT          10.000     6/22/2012     EUR     63.85
LB BADEN-WUERTT          10.000     6/22/2012     EUR     67.46
LB BADEN-WUERTT          10.000     6/22/2012     EUR     55.24
LB BADEN-WUERTT          10.000     6/22/2012     EUR     51.33
LB BADEN-WUERTT          10.000     6/22/2012     EUR     57.90
LB BADEN-WUERTT           8.000     6/22/2012     EUR     74.04
LB BADEN-WUERTT           8.000     6/22/2012     EUR     69.72
LB BADEN-WUERTT           8.000     6/22/2012     EUR     27.87
LB BADEN-WUERTT           8.000     6/22/2012     EUR     48.93
LB BADEN-WUERTT           8.000     6/22/2012     EUR     69.25
LB BADEN-WUERTT           8.000     6/22/2012     EUR     42.90
LB BADEN-WUERTT           8.000     6/22/2012     EUR     68.10
LB BADEN-WUERTT           8.000     6/22/2012     EUR     64.39
LB BADEN-WUERTT           8.000     6/22/2012     EUR     43.57
LB BADEN-WUERTT           7.500     6/22/2012     EUR     72.47
LB BADEN-WUERTT           7.500     6/22/2012     EUR     63.55
LB BADEN-WUERTT           7.500     6/22/2012     EUR     19.00
LB BADEN-WUERTT           7.500     6/22/2012     EUR     62.55
LB BADEN-WUERTT           7.500     6/22/2012     EUR     61.06
LB BADEN-WUERTT           7.500     6/22/2012     EUR     57.81
LB BADEN-WUERTT           7.500     6/22/2012     EUR     73.85
LB BADEN-WUERTT           7.500     6/22/2012     EUR     67.49
LB BADEN-WUERTT           7.500     6/22/2012     EUR     54.51
LB BADEN-WUERTT           7.500     6/22/2012     EUR     51.84
LB BADEN-WUERTT           7.500     6/22/2012     EUR      7.08
LB BADEN-WUERTT           7.500     6/22/2012     EUR     66.57
LB BADEN-WUERTT           7.500     6/22/2012     EUR     71.50
LB BADEN-WUERTT           6.000     6/22/2012     EUR     31.01
LB BADEN-WUERTT           6.000     6/22/2012     EUR     68.76
LB BADEN-WUERTT           6.000     6/22/2012     EUR     53.68
LB BADEN-WUERTT           6.000     6/22/2012     EUR     48.76
LB BADEN-WUERTT           6.000     6/22/2012     EUR     48.30
LB BADEN-WUERTT           5.000     6/22/2012     EUR     68.98
LB BADEN-WUERTT           5.000     6/22/2012     EUR     68.54
LB BADEN-WUERTT           5.000     6/22/2012     EUR      7.70
LB BADEN-WUERTT           5.000     6/22/2012     EUR     20.86
LB BADEN-WUERTT           5.000     6/22/2012     EUR     63.85
LB BADEN-WUERTT           5.000     6/22/2012     EUR     71.73
LB BADEN-WUERTT           5.000     6/22/2012     EUR     59.42
LB BADEN-WUERTT           5.000     6/22/2012     EUR     72.18
LB BADEN-WUERTT           5.000     6/22/2012     EUR     69.97
LB BADEN-WUERTT           5.000     6/22/2012     EUR     56.96
LB BADEN-WUERTT           5.000     6/22/2012     EUR     72.88
LB BADEN-WUERTT           4.000     6/22/2012     EUR     58.83
LB BADEN-WUERTT           4.000     6/22/2012     EUR     61.52
LB BADEN-WUERTT           4.000     6/22/2012     EUR     35.11
LB BADEN-WUERTT           4.000     6/22/2012     EUR     55.58
LB BADEN-WUERTT           8.350     5/25/2012     EUR     46.87
LB BADEN-WUERTT           8.000     5/25/2012     EUR     62.74
LB BADEN-WUERTT           8.000     5/25/2012     EUR     68.42
LB BADEN-WUERTT           8.000     5/25/2012     EUR     71.82
LB BADEN-WUERTT           8.000     5/25/2012     EUR     69.51
LB BADEN-WUERTT           8.000     5/25/2012     EUR     70.40
LB BADEN-WUERTT           8.000     5/25/2012     EUR     48.36
LB BADEN-WUERTT           8.000     5/25/2012     EUR     39.89
LB BADEN-WUERTT           8.000     5/25/2012     EUR     62.32
LB BADEN-WUERTT           8.000     5/25/2012     EUR     55.84
LB BADEN-WUERTT           6.000     5/25/2012     EUR     60.27
LB BADEN-WUERTT           6.000     5/25/2012     EUR     69.22
LB BADEN-WUERTT           6.000     5/25/2012     EUR     43.89
LB BADEN-WUERTT           6.000     5/25/2012     EUR     67.04
LB BADEN-WUERTT           6.000     5/25/2012     EUR     53.01
LB BADEN-WUERTT           4.000     4/27/2012     EUR      7.66
LB BADEN-WUERTT           4.000     4/27/2012     EUR     46.28
LB BADEN-WUERTT           4.000     4/27/2012     EUR     68.69
LB BADEN-WUERTT           4.000     4/27/2012     EUR     55.86
LB BADEN-WUERTT           4.000     4/27/2012     EUR      7.20
LB BADEN-WUERTT           4.000     4/27/2012     EUR     23.08
LB BADEN-WUERTT           4.000     4/27/2012     EUR     65.05
LB BADEN-WUERTT           4.000     4/27/2012     EUR     64.37
LB BADEN-WUERTT           4.000     4/27/2012     EUR     67.17
LB BADEN-WUERTT           4.000     4/27/2012     EUR     60.20
LB BADEN-WUERTT           4.000     4/27/2012     EUR     51.17
LB BADEN-WUERTT           5.000     4/27/2012     EUR     73.21
LB BADEN-WUERTT           6.000     4/27/2012     EUR     72.35
LB BADEN-WUERTT           6.000     4/27/2012     EUR     48.75
LB BADEN-WUERTT           6.000     4/27/2012     EUR     59.86
LB BADEN-WUERTT           6.000     4/27/2012     EUR      7.45
LB BADEN-WUERTT           6.000     4/27/2012     EUR     58.78
LB BADEN-WUERTT           6.000     4/27/2012     EUR     74.84
LB BADEN-WUERTT           6.000     4/27/2012     EUR     70.73
LB BADEN-WUERTT           6.000     4/27/2012     EUR     42.43
LB BADEN-WUERTT           6.000     4/27/2012     EUR      6.47
LB BADEN-WUERTT           6.000     4/27/2012     EUR     52.53
LB BADEN-WUERTT           6.000     4/27/2012     EUR     67.84
LB BADEN-WUERTT           6.000     4/27/2012     EUR     60.31
LB BADEN-WUERTT           6.000     4/27/2012     EUR     21.06
LB BADEN-WUERTT           6.000     4/27/2012     EUR     41.75
LB BADEN-WUERTT           6.000     4/27/2012     EUR     61.71
LB BADEN-WUERTT           8.000     4/27/2012     EUR     63.26
LB BADEN-WUERTT           8.000     4/27/2012     EUR      6.50
LB BADEN-WUERTT           8.000     4/27/2012     EUR     73.43
LB BADEN-WUERTT           8.000     4/27/2012     EUR     44.38
LB BADEN-WUERTT           8.000     4/27/2012     EUR     39.63
LB BADEN-WUERTT           8.000     4/27/2012     EUR     19.36
LB BADEN-WUERTT           8.000     4/27/2012     EUR     67.72
LB BADEN-WUERTT           8.000     4/27/2012     EUR      5.88
LB BADEN-WUERTT           8.000     4/27/2012     EUR     73.69
LB BADEN-WUERTT           8.000     4/27/2012     EUR     55.03
LB BADEN-WUERTT           8.000     4/27/2012     EUR     55.40
LB BADEN-WUERTT           8.000     4/27/2012     EUR     69.16
LB BADEN-WUERTT           8.000     4/27/2012     EUR     47.61
LB BADEN-WUERTT           8.000     4/27/2012     EUR     67.58
LB BADEN-WUERTT           8.000     4/27/2012     EUR     56.18
LB BADEN-WUERTT           8.000     4/27/2012     EUR     66.95
LB BADEN-WUERTT           8.000     4/27/2012     EUR     66.21
LB BADEN-WUERTT           8.000     4/27/2012     EUR     36.60
LB BADEN-WUERTT           8.000     4/27/2012     EUR     68.14
LB BADEN-WUERTT           8.000     4/27/2012     EUR     58.09
MACQUARIE STRUCT          9.000     9/28/2012     EUR     56.64
MACQUARIE STRUCT         10.250     6/22/2012     EUR     72.32
MACQUARIE STRUCT         10.750     6/22/2012     EUR     34.43
MACQUARIE STRUCT         10.250     6/22/2012     EUR     50.37
MACQUARIE STRUCT         10.000     6/22/2012     EUR     48.73
MACQUARIE STRUCT          9.750     6/22/2012     EUR     73.40
MACQUARIE STRUCT          9.750     6/22/2012     EUR     66.16
MACQUARIE STRUCT         11.000     6/22/2012     EUR     76.14
MACQUARIE STRUCT          9.250     9/28/2012     EUR     69.55
MACQUARIE STRUCT          9.750     9/28/2012     EUR     58.71
MACQUARIE STRUCT         11.000     6/22/2012     EUR     73.34
MACQUARIE STRUCT         11.000     6/22/2012     EUR     72.74
MACQUARIE STRUCT         11.500     6/22/2012     EUR     36.79
MACQUARIE STRUCT         11.500     6/22/2012     EUR     59.08
MACQUARIE STRUCT         11.500     6/22/2012     EUR     62.43
MACQUARIE STRUCT         11.750     6/22/2012     EUR     67.42
MACQUARIE STRUCT         12.000     6/22/2012     EUR     75.43
MACQUARIE STRUCT         12.500     6/22/2012     EUR     47.64
MACQUARIE STRUCT         12.500     6/22/2012     EUR     43.10
MACQUARIE STRUCT         13.000     6/22/2012     EUR     65.78
MACQUARIE STRUCT          9.250     6/22/2012     EUR     34.04
MACQUARIE STRUCT         18.000    12/14/2012     EUR     69.88
MACQUARIE STRUCT         11.500     9/28/2012     EUR     54.91
MACQUARIE STRUCT         10.000     9/28/2012     EUR     71.99
MACQUARIE STRUCT         13.250     4/27/2012     EUR     50.44
MACQUARIE STRUCT         11.250     4/27/2012     EUR     74.75
MACQUARIE STRUCT         10.500     4/27/2012     EUR     54.93
MACQUARIE STRUCT          9.000     6/22/2012     EUR     68.39
MACQUARIE STRUCT          7.750     6/22/2012     EUR     75.21
MACQUARIE STRUCT          7.000     5/11/2012     EUR     68.14
MACQUARIE STRUCT         16.000     6/22/2012     EUR     18.02
MACQUARIE STRUCT         13.500     6/22/2012     EUR     35.54
MACQUARIE STRUCT         15.750     6/22/2012     EUR     14.16
MACQUARIE STRUCT         17.000     6/22/2012     EUR     43.15
MACQUARIE STRUCT         15.750     6/22/2012     EUR     60.01
MACQUARIE STRUCT         18.500     6/22/2012     EUR     57.98
MACQUARIE STRUCT         23.250     6/22/2012     EUR      5.13
NORDDEUTSCHE L/B          7.000      6/8/2012     EUR     58.65
Q-CELLS                   6.750    10/21/2015     EUR      0.60
QIMONDA FINANCE           6.750     3/22/2013     USD      5.88
RENTENBANK                0.500     4/19/2017     TRY     72.71
RENTENBANK                0.500     3/15/2017     TRY     71.90
RENTENBANK                0.500     4/19/2017     ZAR     72.89
SOLON AG SOLAR            1.375     12/6/2012     EUR      1.75
TAG IMMO AG               6.500    12/10/2015     EUR      7.84
TUI AG                    5.500    11/17/2014     EUR     64.02
TUI AG                    2.750     3/24/2016     EUR     48.13
UNICREDIT BANK A          6.900     5/17/2012     EUR     55.08
UNICREDIT BANK A          6.800     5/17/2012     EUR     69.18
UNICREDIT BANK A          7.000     6/21/2012     EUR     45.04
VONTOBEL FIN PRO         14.200     9/28/2012     EUR     73.04
VONTOBEL FIN PRO         14.209     9/28/2012     EUR     63.12
VONTOBEL FIN PRO         14.303     9/28/2012     EUR     64.10
VONTOBEL FIN PRO         14.450     9/28/2012     EUR     73.92
VONTOBEL FIN PRO          8.581     9/28/2012     EUR     58.04
VONTOBEL FIN PRO         14.600     9/28/2012     EUR     70.76
VONTOBEL FIN PRO         14.662     9/28/2012     EUR     72.10
VONTOBEL FIN PRO         14.786     9/28/2012     EUR     72.50
VONTOBEL FIN PRO         14.853     9/28/2012     EUR     55.68
VONTOBEL FIN PRO          8.542     9/28/2012     EUR     73.42
VONTOBEL FIN PRO          8.529     9/28/2012     EUR     69.24
VONTOBEL FIN PRO         14.500     9/28/2012     EUR     63.54
VONTOBEL FIN PRO         14.900     9/28/2012     EUR     66.58
VONTOBEL FIN PRO         14.906     9/28/2012     EUR     68.38
VONTOBEL FIN PRO         14.957     9/28/2012     EUR     70.06
VONTOBEL FIN PRO         15.000     9/28/2012     EUR     68.14
VONTOBEL FIN PRO         15.000     9/28/2012     EUR     76.18
VONTOBEL FIN PRO         15.700     9/28/2012     EUR     68.98
VONTOBEL FIN PRO         16.000     9/28/2012     EUR     68.80
VONTOBEL FIN PRO         16.183     9/28/2012     EUR     54.28
VONTOBEL FIN PRO         16.200     9/28/2012     EUR     71.94
VONTOBEL FIN PRO         16.337     9/28/2012     EUR     70.90
VONTOBEL FIN PRO         16.400     9/28/2012     EUR     70.94
VONTOBEL FIN PRO         16.850     9/28/2012     EUR     75.16
VONTOBEL FIN PRO         17.000     9/28/2012     EUR     43.86
VONTOBEL FIN PRO          8.515     9/28/2012     EUR     74.76
VONTOBEL FIN PRO          8.440     9/28/2012     EUR     59.24
VONTOBEL FIN PRO          8.216     9/28/2012     EUR     74.44
VONTOBEL FIN PRO          8.174     9/28/2012     EUR     66.28
VONTOBEL FIN PRO         18.800     9/28/2012     EUR     72.94
VONTOBEL FIN PRO          8.121     9/28/2012     EUR     67.32
VONTOBEL FIN PRO          7.950     9/28/2012     EUR     71.76
VONTOBEL FIN PRO         19.000     9/28/2012     EUR     62.28
VONTOBEL FIN PRO         19.250     9/28/2012     EUR     71.88
VONTOBEL FIN PRO         20.400     9/28/2012     EUR     69.66
VONTOBEL FIN PRO         20.750     9/28/2012     EUR     71.36
VONTOBEL FIN PRO         20.950     9/28/2012     EUR     59.98
VONTOBEL FIN PRO         21.500     9/28/2012     EUR     60.34
VONTOBEL FIN PRO         21.550     9/28/2012     EUR     69.38
VONTOBEL FIN PRO         22.050     9/28/2012     EUR     66.74
VONTOBEL FIN PRO         25.200     9/28/2012     EUR     57.42
VONTOBEL FIN PRO         25.700     9/28/2012     EUR     68.00
VONTOBEL FIN PRO         27.550     9/28/2012     EUR     54.50
VONTOBEL FIN PRO         28.700     9/28/2012     EUR     63.48
VONTOBEL FIN PRO         28.900     9/28/2012     EUR     55.18
VONTOBEL FIN PRO         11.500    12/14/2012     EUR      4.01
VONTOBEL FIN PRO          5.006    12/28/2012     EUR     57.28
VONTOBEL FIN PRO          6.175    12/31/2012     EUR     70.88
VONTOBEL FIN PRO          7.050    12/31/2012     EUR     70.78
VONTOBEL FIN PRO          7.494    12/31/2012     EUR     72.32
VONTOBEL FIN PRO          7.719    12/31/2012     EUR     75.52
VONTOBEL FIN PRO          7.754    12/31/2012     EUR     72.48
VONTOBEL FIN PRO          8.019    12/31/2012     EUR     71.98
VONTOBEL FIN PRO          8.050    12/31/2012     EUR     70.20
VONTOBEL FIN PRO          8.163    12/31/2012     EUR     64.28
VONTOBEL FIN PRO          8.200    12/31/2012     EUR     76.08
VONTOBEL FIN PRO          8.230    12/31/2012     EUR     67.70
VONTOBEL FIN PRO          8.246    12/31/2012     EUR     47.08
VONTOBEL FIN PRO          8.300    12/31/2012     EUR     61.44
VONTOBEL FIN PRO          8.526    12/31/2012     EUR     22.44
VONTOBEL FIN PRO          8.700    12/31/2012     EUR     75.86
VONTOBEL FIN PRO          8.702    12/31/2012     EUR     77.16
VONTOBEL FIN PRO          8.737    12/31/2012     EUR     67.94
VONTOBEL FIN PRO          8.737    12/31/2012     EUR     73.26
VONTOBEL FIN PRO          8.842    12/31/2012     EUR     70.78
VONTOBEL FIN PRO          8.877    12/31/2012     EUR     64.44
VONTOBEL FIN PRO          8.895    12/31/2012     EUR     69.88
VONTOBEL FIN PRO          8.912    12/31/2012     EUR     74.94
VONTOBEL FIN PRO          8.950    12/31/2012     EUR     61.94
VONTOBEL FIN PRO          9.123    12/31/2012     EUR     65.90
VONTOBEL FIN PRO          9.193    12/31/2012     EUR     46.24
VONTOBEL FIN PRO          9.250    12/31/2012     EUR     51.52
VONTOBEL FIN PRO          9.400    12/31/2012     EUR     71.28
VONTOBEL FIN PRO          9.509    12/31/2012     EUR     73.80
VONTOBEL FIN PRO          9.544    12/31/2012     EUR     75.78
VONTOBEL FIN PRO          9.605    12/31/2012     EUR     71.44
VONTOBEL FIN PRO          9.700    12/31/2012     EUR     62.98
VONTOBEL FIN PRO          9.754    12/31/2012     EUR     65.88
VONTOBEL FIN PRO          9.754    12/31/2012     EUR     45.76
VONTOBEL FIN PRO          9.825    12/31/2012     EUR     71.20
VONTOBEL FIN PRO          9.841    12/31/2012     EUR     63.20
VONTOBEL FIN PRO          9.965    12/31/2012     EUR     72.88
VONTOBEL FIN PRO         10.035    12/31/2012     EUR     69.28
VONTOBEL FIN PRO         14.895     9/28/2012     EUR     65.96
VONTOBEL FIN PRO         10.105    12/31/2012     EUR     72.70
VONTOBEL FIN PRO         10.175    12/31/2012     EUR     45.50
VONTOBEL FIN PRO         10.207    12/31/2012     EUR     67.96
VONTOBEL FIN PRO         10.211    12/31/2012     EUR     72.14
VONTOBEL FIN PRO         10.231    12/31/2012     EUR     68.04
VONTOBEL FIN PRO         10.300    12/31/2012     EUR     73.74
VONTOBEL FIN PRO         10.421    12/31/2012     EUR     63.62
VONTOBEL FIN PRO         10.456    12/31/2012     EUR     71.68
VONTOBEL FIN PRO         10.500    12/31/2012     EUR     46.10
VONTOBEL FIN PRO         10.621    12/31/2012     EUR     76.87
VONTOBEL FIN PRO         10.700    12/31/2012     EUR     75.64
VONTOBEL FIN PRO         10.702    12/31/2012     EUR     75.58
VONTOBEL FIN PRO         10.807    12/31/2012     EUR     22.88
VONTOBEL FIN PRO         10.807    12/31/2012     EUR     64.04
VONTOBEL FIN PRO         10.900    12/31/2012     EUR     70.86
VONTOBEL FIN PRO         10.912    12/31/2012     EUR     70.72
VONTOBEL FIN PRO         11.000    12/31/2012     EUR     65.24
VONTOBEL FIN PRO         11.170    12/31/2012     EUR     61.56
VONTOBEL FIN PRO         11.193    12/31/2012     EUR     70.72
VONTOBEL FIN PRO         11.400    12/31/2012     EUR     72.28
VONTOBEL FIN PRO         11.404    12/31/2012     EUR     69.80
VONTOBEL FIN PRO         11.445    12/31/2012     EUR     65.38
VONTOBEL FIN PRO         11.476    12/31/2012     EUR     54.19
VONTOBEL FIN PRO         11.621    12/31/2012     EUR     71.08
VONTOBEL FIN PRO         11.649    12/31/2012     EUR     55.32
VONTOBEL FIN PRO         11.668    12/31/2012     EUR     74.24
VONTOBEL FIN PRO         11.684    12/31/2012     EUR     76.28
VONTOBEL FIN PRO         11.750    12/31/2012     EUR     73.94
VONTOBEL FIN PRO         11.754    12/31/2012     EUR     76.70
VONTOBEL FIN PRO         11.784    12/31/2012     EUR     64.53
VONTOBEL FIN PRO         11.790    12/31/2012     EUR     61.70
VONTOBEL FIN PRO         11.895    12/31/2012     EUR     68.90
VONTOBEL FIN PRO         11.950    12/31/2012     EUR     67.12
VONTOBEL FIN PRO         12.000    12/31/2012     EUR     70.58
VONTOBEL FIN PRO         12.211    12/31/2012     EUR     69.44
VONTOBEL FIN PRO         12.246    12/31/2012     EUR     73.12
VONTOBEL FIN PRO         12.250    12/31/2012     EUR     70.42
VONTOBEL FIN PRO         12.433    12/31/2012     EUR     69.64
VONTOBEL FIN PRO         12.451    12/31/2012     EUR     75.38
VONTOBEL FIN PRO         12.501    12/31/2012     EUR     54.89
VONTOBEL FIN PRO         12.593    12/31/2012     EUR     59.08
VONTOBEL FIN PRO         12.650    12/31/2012     EUR     56.56
VONTOBEL FIN PRO         12.900    12/31/2012     EUR     64.60
VONTOBEL FIN PRO         12.912    12/31/2012     EUR     53.44
VONTOBEL FIN PRO         13.000    12/31/2012     EUR     75.72
VONTOBEL FIN PRO         13.050    12/31/2012     EUR     70.78
VONTOBEL FIN PRO         13.123    12/31/2012     EUR     23.50
VONTOBEL FIN PRO         13.200    12/31/2012     EUR     73.54
VONTOBEL FIN PRO          7.867     9/28/2012     EUR     69.72
VONTOBEL FIN PRO          7.432     9/28/2012     EUR     68.04
VONTOBEL FIN PRO         13.250    12/31/2012     EUR     75.10
VONTOBEL FIN PRO         13.411    12/31/2012     EUR     71.70
VONTOBEL FIN PRO         13.474    12/31/2012     EUR     73.92
VONTOBEL FIN PRO         13.518    12/31/2012     EUR     71.48
VONTOBEL FIN PRO         13.579    12/31/2012     EUR     71.66
VONTOBEL FIN PRO         13.860    12/31/2012     EUR     70.24
VONTOBEL FIN PRO         14.000    12/31/2012     EUR     74.06
VONTOBEL FIN PRO         14.150    12/31/2012     EUR     43.10
VONTOBEL FIN PRO         14.211    12/31/2012     EUR     51.86
VONTOBEL FIN PRO         14.300    12/31/2012     EUR     65.78
VONTOBEL FIN PRO         14.450    12/31/2012     EUR     72.22
VONTOBEL FIN PRO         14.505    12/31/2012     EUR     74.32
VONTOBEL FIN PRO         14.750    12/31/2012     EUR     71.56
VONTOBEL FIN PRO         14.850    12/31/2012     EUR     75.66
VONTOBEL FIN PRO         16.350    12/31/2012     EUR     68.44
VONTOBEL FIN PRO         16.850    12/31/2012     EUR     61.98
VONTOBEL FIN PRO          7.350     9/28/2012     EUR     74.56
VONTOBEL FIN PRO         11.615     6/15/2012     EUR     65.00
VONTOBEL FIN PRO          6.444     6/22/2012     EUR     67.16
VONTOBEL FIN PRO          6.697     6/22/2012     EUR     72.66
VONTOBEL FIN PRO          6.876     6/22/2012     EUR     50.54
VONTOBEL FIN PRO          6.948     6/22/2012     EUR     71.96
VONTOBEL FIN PRO          7.010     6/22/2012     EUR     62.50
VONTOBEL FIN PRO          7.094     6/22/2012     EUR     59.14
VONTOBEL FIN PRO          7.101     6/22/2012     EUR     46.12
VONTOBEL FIN PRO         10.050    12/31/2012     EUR     71.04
VONTOBEL FIN PRO          7.156     6/22/2012     EUR     70.32
VONTOBEL FIN PRO          7.200     6/22/2012     EUR     75.06
VONTOBEL FIN PRO          7.228     6/22/2012     EUR     72.18
VONTOBEL FIN PRO          7.231     6/22/2012     EUR     74.90
VONTOBEL FIN PRO          7.236     6/22/2012     EUR     58.80
VONTOBEL FIN PRO          7.299     6/22/2012     EUR     67.72
VONTOBEL FIN PRO          7.299     6/22/2012     EUR     74.24
VONTOBEL FIN PRO          7.355     6/22/2012     EUR     71.10
VONTOBEL FIN PRO          7.362     6/22/2012     EUR     74.10
VONTOBEL FIN PRO          7.370     6/22/2012     EUR     70.34
VONTOBEL FIN PRO          7.473     6/22/2012     EUR     59.02
VONTOBEL FIN PRO          7.488     6/22/2012     EUR     64.90
VONTOBEL FIN PRO          7.500     6/22/2012     EUR     50.08
VONTOBEL FIN PRO          7.509     6/22/2012     EUR     51.08
VONTOBEL FIN PRO          7.562     6/22/2012     EUR     64.14
VONTOBEL FIN PRO          7.600     6/22/2012     EUR     75.54
VONTOBEL FIN PRO          7.601     6/22/2012     EUR     73.62
VONTOBEL FIN PRO          7.700     6/22/2012     EUR     74.32
VONTOBEL FIN PRO          7.720     6/22/2012     EUR     72.08
VONTOBEL FIN PRO          7.754     6/22/2012     EUR     54.46
VONTOBEL FIN PRO          7.795     6/22/2012     EUR     68.86
VONTOBEL FIN PRO          7.812     6/22/2012     EUR     69.62
VONTOBEL FIN PRO          7.855     6/22/2012     EUR     71.44
VONTOBEL FIN PRO          7.942     6/22/2012     EUR     65.68
VONTOBEL FIN PRO          7.956     6/22/2012     EUR     66.00
VONTOBEL FIN PRO          7.974     6/22/2012     EUR     53.34
VONTOBEL FIN PRO          7.974     6/22/2012     EUR     38.06
VONTOBEL FIN PRO          7.996     6/22/2012     EUR     65.34
VONTOBEL FIN PRO          8.008     6/22/2012     EUR     63.84
VONTOBEL FIN PRO          8.013     6/22/2012     EUR     53.32
VONTOBEL FIN PRO          8.014     6/22/2012     EUR     60.68
VONTOBEL FIN PRO          8.015     6/22/2012     EUR     59.30
VONTOBEL FIN PRO          8.031     6/22/2012     EUR     68.82
VONTOBEL FIN PRO          8.038     6/22/2012     EUR     68.71
VONTOBEL FIN PRO          8.068     6/22/2012     EUR     59.30
VONTOBEL FIN PRO          8.108     6/22/2012     EUR     67.86
VONTOBEL FIN PRO          8.113     6/22/2012     EUR     74.68
VONTOBEL FIN PRO          8.113     6/22/2012     EUR     66.06
VONTOBEL FIN PRO          8.135     6/22/2012     EUR     66.24
VONTOBEL FIN PRO          8.152     6/22/2012     EUR     64.14
VONTOBEL FIN PRO          8.185     6/22/2012     EUR     49.18
VONTOBEL FIN PRO          8.189     6/22/2012     EUR     35.70
VONTOBEL FIN PRO          8.189     6/22/2012     EUR     65.52
VONTOBEL FIN PRO          8.229     6/22/2012     EUR     67.20
VONTOBEL FIN PRO          8.264     6/22/2012     EUR     64.70
VONTOBEL FIN PRO          8.267     6/22/2012     EUR     64.36
VONTOBEL FIN PRO          8.278     6/22/2012     EUR     63.32
VONTOBEL FIN PRO          8.284     6/22/2012     EUR     44.82
VONTOBEL FIN PRO          8.302     6/22/2012     EUR     61.80
VONTOBEL FIN PRO          8.327     6/22/2012     EUR     66.52
VONTOBEL FIN PRO          8.328     6/22/2012     EUR     74.30
VONTOBEL FIN PRO          8.340     6/22/2012     EUR     16.88
VONTOBEL FIN PRO          8.340     6/22/2012     EUR     58.14
VONTOBEL FIN PRO          8.347     6/22/2012     EUR     72.20
VONTOBEL FIN PRO          8.347     6/22/2012     EUR     53.74
VONTOBEL FIN PRO          8.347     6/22/2012     EUR     69.86
VONTOBEL FIN PRO          8.377     6/22/2012     EUR     41.96
VONTOBEL FIN PRO          8.404     6/22/2012     EUR     72.60
VONTOBEL FIN PRO          8.407     6/22/2012     EUR     41.34
VONTOBEL FIN PRO          8.433     6/22/2012     EUR     65.70
VONTOBEL FIN PRO          8.460     6/22/2012     EUR     46.66
VONTOBEL FIN PRO          8.466     6/22/2012     EUR     60.68
VONTOBEL FIN PRO          8.466     6/22/2012     EUR     35.60
VONTOBEL FIN PRO          8.487     6/22/2012     EUR     65.36
VONTOBEL FIN PRO          8.491     6/22/2012     EUR     53.50
VONTOBEL FIN PRO          8.491     6/22/2012     EUR     51.96
VONTOBEL FIN PRO          8.496     6/22/2012     EUR     72.88
VONTOBEL FIN PRO          8.525     6/22/2012     EUR     58.62
VONTOBEL FIN PRO          8.528     6/22/2012     EUR     66.86
VONTOBEL FIN PRO          8.528     6/22/2012     EUR     65.72
VONTOBEL FIN PRO          8.566     6/22/2012     EUR     59.40
VONTOBEL FIN PRO          8.581     6/22/2012     EUR     62.76
VONTOBEL FIN PRO          8.597     6/22/2012     EUR     62.98
VONTOBEL FIN PRO          8.640     6/22/2012     EUR     25.36
VONTOBEL FIN PRO          8.642     6/22/2012     EUR     52.47
VONTOBEL FIN PRO          8.667     6/22/2012     EUR     65.60
VONTOBEL FIN PRO          8.676     6/22/2012     EUR     68.94
VONTOBEL FIN PRO          8.676     6/22/2012     EUR     73.00
VONTOBEL FIN PRO          8.679     6/22/2012     EUR     62.24
VONTOBEL FIN PRO          8.679     6/22/2012     EUR     67.00
VONTOBEL FIN PRO          8.681     6/22/2012     EUR     60.48
VONTOBEL FIN PRO          8.690     6/22/2012     EUR     56.36
VONTOBEL FIN PRO          8.701     6/22/2012     EUR     42.08
VONTOBEL FIN PRO          8.701     6/22/2012     EUR     75.88
VONTOBEL FIN PRO          8.720     6/22/2012     EUR     74.34
VONTOBEL FIN PRO          8.727     6/22/2012     EUR     72.96
VONTOBEL FIN PRO          8.747     6/22/2012     EUR     74.50
VONTOBEL FIN PRO          7.150     6/22/2012     EUR     71.74
VONTOBEL FIN PRO          8.755     6/22/2012     EUR     64.50
VONTOBEL FIN PRO          8.755     6/22/2012     EUR     45.28
VONTOBEL FIN PRO          8.755     6/22/2012     EUR     65.98
VONTOBEL FIN PRO          8.757     6/22/2012     EUR     61.43
VONTOBEL FIN PRO          8.793     6/22/2012     EUR     63.66
VONTOBEL FIN PRO          8.795     6/22/2012     EUR     64.46
VONTOBEL FIN PRO          8.795     6/22/2012     EUR     70.78
VONTOBEL FIN PRO          8.795     6/22/2012     EUR     50.60
VONTOBEL FIN PRO          8.806     6/22/2012     EUR     67.70
VONTOBEL FIN PRO          8.806     6/22/2012     EUR     62.24
VONTOBEL FIN PRO          8.830     6/22/2012     EUR     66.18
VONTOBEL FIN PRO          8.835     6/22/2012     EUR     56.48
VONTOBEL FIN PRO          8.845     6/22/2012     EUR     66.70
VONTOBEL FIN PRO          8.850     6/22/2012     EUR     74.24
VONTOBEL FIN PRO          8.872     6/22/2012     EUR     74.46
VONTOBEL FIN PRO          9.700     9/28/2012     EUR     71.86
VONTOBEL FIN PRO          8.875     6/22/2012     EUR     60.38
VONTOBEL FIN PRO          8.877     6/22/2012     EUR     64.34
VONTOBEL FIN PRO          8.889     6/22/2012     EUR     60.10
VONTOBEL FIN PRO          8.891     6/22/2012     EUR     63.72
VONTOBEL FIN PRO          8.892     6/22/2012     EUR     55.12
VONTOBEL FIN PRO          8.900     6/22/2012     EUR     55.86
VONTOBEL FIN PRO          8.906     6/22/2012     EUR     49.82
VONTOBEL FIN PRO          8.920     6/22/2012     EUR     70.08
VONTOBEL FIN PRO          8.943     6/22/2012     EUR     73.98
VONTOBEL FIN PRO          8.944     6/22/2012     EUR     72.46
VONTOBEL FIN PRO          9.019     6/22/2012     EUR     45.06
VONTOBEL FIN PRO          9.025     6/22/2012     EUR     73.06
VONTOBEL FIN PRO          9.026     6/22/2012     EUR     68.40
VONTOBEL FIN PRO          9.071     6/22/2012     EUR     66.54
VONTOBEL FIN PRO          9.072     6/22/2012     EUR     53.60
VONTOBEL FIN PRO          9.072     6/22/2012     EUR     67.18
VONTOBEL FIN PRO          9.080     6/22/2012     EUR     74.16
VONTOBEL FIN PRO          9.097     6/22/2012     EUR     74.56
VONTOBEL FIN PRO          9.100     6/22/2012     EUR     76.38
VONTOBEL FIN PRO          9.125     6/22/2012     EUR     72.48
VONTOBEL FIN PRO          9.134     6/22/2012     EUR     73.38
VONTOBEL FIN PRO          9.142     6/22/2012     EUR     65.66
VONTOBEL FIN PRO          9.162     6/22/2012     EUR     69.66
VONTOBEL FIN PRO          9.180     6/22/2012     EUR     66.42
VONTOBEL FIN PRO          9.208     6/22/2012     EUR     48.44
VONTOBEL FIN PRO          9.250     6/22/2012     EUR     67.56
VONTOBEL FIN PRO          9.259     6/22/2012     EUR     74.40
VONTOBEL FIN PRO          9.274     6/22/2012     EUR     61.38
VONTOBEL FIN PRO          9.283     6/22/2012     EUR     41.32
VONTOBEL FIN PRO          9.290     6/22/2012     EUR     61.74
VONTOBEL FIN PRO          9.292     6/22/2012     EUR     49.36
VONTOBEL FIN PRO          9.316     6/22/2012     EUR     59.10
VONTOBEL FIN PRO          9.332     6/22/2012     EUR     64.28
VONTOBEL FIN PRO          9.333     6/22/2012     EUR     72.68
VONTOBEL FIN PRO          9.333     6/22/2012     EUR     72.52
VONTOBEL FIN PRO         17.100    12/31/2012     EUR     58.58
VONTOBEL FIN PRO         18.750    12/31/2012     EUR     71.12
VONTOBEL FIN PRO          7.286     9/28/2012     EUR     71.22
VONTOBEL FIN PRO          6.950     9/28/2012     EUR     69.62
VONTOBEL FIN PRO          5.829     9/28/2012     EUR     69.36
VONTOBEL FIN PRO         18.850    12/31/2012     EUR     60.54
VONTOBEL FIN PRO         18.900    12/31/2012     EUR     71.96
VONTOBEL FIN PRO         11.850      8/3/2012     EUR     73.40
VONTOBEL FIN PRO         12.864     7/27/2012     EUR     63.20
VONTOBEL FIN PRO         11.564     7/27/2012     EUR     59.10
VONTOBEL FIN PRO         11.665     7/20/2012     EUR     69.00
VONTOBEL FIN PRO         11.061     7/20/2012     EUR     64.30
VONTOBEL FIN PRO         10.860     7/20/2012     EUR     58.50
VONTOBEL FIN PRO         21.800    12/31/2012     EUR     57.92
VONTOBEL FIN PRO         22.600    12/31/2012     EUR     53.66
VONTOBEL FIN PRO         24.700    12/31/2012     EUR     55.48
VONTOBEL FIN PRO         24.900    12/31/2012     EUR     64.26
VONTOBEL FIN PRO         11.061     7/13/2012     EUR     65.70
VONTOBEL FIN PRO         27.600    12/31/2012     EUR     54.52
VONTOBEL FIN PRO         10.860     7/13/2012     EUR     67.50
VONTOBEL FIN PRO         11.514      7/6/2012     EUR     52.10
VONTOBEL FIN PRO         28.250    12/31/2012     EUR     52.34
VONTOBEL FIN PRO         12.067     6/29/2012     EUR     54.10
VONTOBEL FIN PRO         12.067     6/29/2012     EUR     59.40
VONTOBEL FIN PRO          8.042      1/2/2013     EUR     69.58
VONTOBEL FIN PRO         10.559     6/29/2012     EUR     74.90
VONTOBEL FIN PRO         23.300     6/22/2012     EUR     61.68
VONTOBEL FIN PRO         22.800     6/22/2012     EUR     55.24
VONTOBEL FIN PRO          8.069      1/2/2013     EUR     71.51
VONTOBEL FIN PRO         21.456     6/22/2012     EUR     49.70
VONTOBEL FIN PRO         19.350     6/22/2012     EUR     60.92
VONTOBEL FIN PRO         19.150     6/22/2012     EUR     65.40
VONTOBEL FIN PRO         18.650     6/22/2012     EUR     68.38
VONTOBEL FIN PRO         18.295     6/22/2012     EUR     40.36
VONTOBEL FIN PRO         18.289     6/22/2012     EUR     15.36
VONTOBEL FIN PRO         18.164     6/22/2012     EUR     15.60
VONTOBEL FIN PRO          8.753     6/22/2012     EUR     68.34
VONTOBEL FIN PRO         18.150     6/22/2012     EUR     77.08
VONTOBEL FIN PRO         18.050     6/22/2012     EUR     74.64
VONTOBEL FIN PRO         18.036     6/22/2012     EUR     53.40
VONTOBEL FIN PRO         17.950     6/22/2012     EUR     44.26
VONTOBEL FIN PRO         17.800     6/22/2012     EUR     64.04
VONTOBEL FIN PRO          8.987      1/2/2013     EUR     38.07
VONTOBEL FIN PRO         10.093      1/2/2013     EUR     73.09
VONTOBEL FIN PRO         10.930      1/2/2013     EUR     46.66
VONTOBEL FIN PRO          8.600     3/22/2013     EUR     77.20
VONTOBEL FIN PRO          9.373     6/22/2012     EUR     43.05
VONTOBEL FIN PRO          8.850     3/22/2013     EUR     72.72
VONTOBEL FIN PRO         11.150     3/22/2013     EUR     69.62
VONTOBEL FIN PRO         11.850     3/22/2013     EUR     72.12
VONTOBEL FIN PRO         13.200     3/22/2013     EUR     76.32
VONTOBEL FIN PRO         17.784     6/22/2012     EUR     42.64
VONTOBEL FIN PRO         17.712     6/22/2012     EUR     15.84
VONTOBEL FIN PRO         17.500     6/22/2012     EUR     74.40
VONTOBEL FIN PRO         14.500     3/22/2013     EUR     68.50
VONTOBEL FIN PRO         17.400     3/22/2013     EUR     66.10
VONTOBEL FIN PRO         20.900     3/22/2013     EUR     74.66
VONTOBEL FIN PRO          7.389    11/25/2013     EUR     36.10
VONTOBEL FIN PRO          5.474     3/17/2014     EUR     72.70
VONTOBEL FIN PRO          5.100     4/14/2014     EUR     43.90
VONTOBEL FIN PRO         17.400     6/22/2012     EUR     76.32
VONTOBEL FIN PRO         18.150     6/22/2012     EUR     70.86
VONTOBEL FIN PRO         14.611     6/22/2012     EUR     62.66
VONTOBEL FIN PRO         14.595     6/22/2012     EUR     65.32
VONTOBEL FIN PRO         14.580     6/22/2012     EUR     53.06
VONTOBEL FIN PRO         14.561     6/22/2012     EUR     58.04
VONTOBEL FIN PRO         14.450     6/22/2012     EUR     47.88
VONTOBEL FIN PRO         14.447     6/22/2012     EUR     61.52
VONTOBEL FIN PRO         14.436     6/22/2012     EUR     21.44
VONTOBEL FIN PRO         14.345     6/22/2012     EUR     55.96
VONTOBEL FIN PRO         14.302     6/22/2012     EUR     17.84
VONTOBEL FIN PRO         14.278     6/22/2012     EUR     40.14
VONTOBEL FIN PRO         14.276     6/22/2012     EUR     58.68
VONTOBEL FIN PRO         14.229     6/22/2012     EUR     38.18
VONTOBEL FIN PRO         14.211     6/22/2012     EUR     66.50
VONTOBEL FIN PRO         14.201     6/22/2012     EUR     33.36
VONTOBEL FIN PRO         14.172     6/22/2012     EUR     56.80
VONTOBEL FIN PRO         14.167     6/22/2012     EUR     71.46
VONTOBEL FIN PRO         14.160     6/22/2012     EUR     17.36
VONTOBEL FIN PRO         14.061     6/22/2012     EUR     54.44
VONTOBEL FIN PRO         14.000     6/22/2012     EUR     52.92
VONTOBEL FIN PRO         14.000     6/22/2012     EUR     44.70
VONTOBEL FIN PRO         13.980     6/22/2012     EUR     48.52
VONTOBEL FIN PRO         13.974     6/22/2012     EUR     61.96
VONTOBEL FIN PRO         13.973     6/22/2012     EUR     69.03
VONTOBEL FIN PRO         13.968     6/22/2012     EUR     68.72
VONTOBEL FIN PRO         13.961     6/22/2012     EUR     71.10
VONTOBEL FIN PRO         13.944     6/22/2012     EUR     69.82
VONTOBEL FIN PRO         13.889     6/22/2012     EUR     70.14
VONTOBEL FIN PRO         13.886     6/22/2012     EUR     56.36
VONTOBEL FIN PRO         13.860     6/22/2012     EUR     47.72
VONTOBEL FIN PRO         13.846     6/22/2012     EUR     55.64
VONTOBEL FIN PRO         13.832     6/22/2012     EUR     36.66
VONTOBEL FIN PRO         13.832     6/22/2012     EUR     53.64
VONTOBEL FIN PRO         13.829     6/22/2012     EUR     47.76
VONTOBEL FIN PRO         13.812     6/22/2012     EUR     54.68
VONTOBEL FIN PRO         13.803     6/22/2012     EUR     52.82
VONTOBEL FIN PRO         13.800     6/22/2012     EUR     68.92
VONTOBEL FIN PRO         13.792     6/22/2012     EUR     51.78
VONTOBEL FIN PRO         13.778     6/22/2012     EUR     74.58
VONTOBEL FIN PRO         13.778     6/22/2012     EUR     63.84
VONTOBEL FIN PRO         13.758     6/22/2012     EUR     33.24
VONTOBEL FIN PRO         13.748     6/22/2012     EUR     39.64
VONTOBEL FIN PRO         13.748     6/22/2012     EUR     62.34
VONTOBEL FIN PRO         13.700     6/22/2012     EUR     63.98
VONTOBEL FIN PRO         13.667     6/22/2012     EUR     66.54
VONTOBEL FIN PRO         13.650     6/22/2012     EUR     58.82
VONTOBEL FIN PRO         13.648     6/22/2012     EUR     56.18
VONTOBEL FIN PRO         13.627     6/22/2012     EUR     72.10
VONTOBEL FIN PRO         13.615     6/22/2012     EUR     54.26
VONTOBEL FIN PRO         13.536     6/22/2012     EUR     36.04
VONTOBEL FIN PRO         13.522     6/22/2012     EUR     54.62
VONTOBEL FIN PRO         13.521     6/22/2012     EUR     40.48
VONTOBEL FIN PRO         13.500     6/22/2012     EUR     34.46
VONTOBEL FIN PRO         13.463     6/22/2012     EUR     32.54
VONTOBEL FIN PRO         13.461     6/22/2012     EUR     68.68
VONTOBEL FIN PRO         13.388     6/22/2012     EUR     68.70
VONTOBEL FIN PRO         13.355     6/22/2012     EUR     45.26
VONTOBEL FIN PRO         13.343     6/22/2012     EUR     51.20
VONTOBEL FIN PRO         13.293     6/22/2012     EUR     60.06
VONTOBEL FIN PRO         13.288     6/22/2012     EUR     43.62
VONTOBEL FIN PRO         13.283     6/22/2012     EUR     42.36
VONTOBEL FIN PRO         13.253     6/22/2012     EUR     51.84
VONTOBEL FIN PRO         13.224     6/22/2012     EUR     56.56
VONTOBEL FIN PRO         13.208     6/22/2012     EUR     44.58
VONTOBEL FIN PRO         13.200     6/22/2012     EUR     67.06
VONTOBEL FIN PRO         13.150     6/22/2012     EUR     52.54
VONTOBEL FIN PRO         13.150     6/22/2012     EUR     72.68
VONTOBEL FIN PRO         13.123     6/22/2012     EUR     73.76
VONTOBEL FIN PRO         13.111     6/22/2012     EUR     48.82
VONTOBEL FIN PRO         13.084     6/22/2012     EUR     55.72
VONTOBEL FIN PRO         13.055     6/22/2012     EUR     75.20
VONTOBEL FIN PRO         13.032     6/22/2012     EUR     35.94
VONTOBEL FIN PRO         13.024     6/22/2012     EUR     64.46
VONTOBEL FIN PRO         13.000     6/22/2012     EUR     21.30
VONTOBEL FIN PRO         12.978     6/22/2012     EUR     73.74
VONTOBEL FIN PRO         12.964     6/22/2012     EUR     59.92
VONTOBEL FIN PRO         12.926     6/22/2012     EUR     67.00
VONTOBEL FIN PRO         12.890     6/22/2012     EUR     76.44
VONTOBEL FIN PRO         12.880     6/22/2012     EUR     62.60
VONTOBEL FIN PRO         12.878     6/22/2012     EUR     69.48
VONTOBEL FIN PRO         12.870     6/22/2012     EUR     58.90
VONTOBEL FIN PRO         12.857     6/22/2012     EUR     75.16
VONTOBEL FIN PRO         12.830     6/22/2012     EUR     36.62
VONTOBEL FIN PRO         12.799     6/22/2012     EUR     62.90
VONTOBEL FIN PRO         12.789     6/22/2012     EUR     73.80
VONTOBEL FIN PRO         12.716     6/22/2012     EUR     39.34
VONTOBEL FIN PRO         12.689     6/22/2012     EUR     58.52
VONTOBEL FIN PRO         12.685     6/22/2012     EUR     41.18
VONTOBEL FIN PRO         12.679     6/22/2012     EUR     55.51
VONTOBEL FIN PRO         12.672     6/22/2012     EUR     37.90
VONTOBEL FIN PRO         12.672     6/22/2012     EUR     65.50
VONTOBEL FIN PRO         12.667     6/22/2012     EUR     71.00
VONTOBEL FIN PRO         12.652     6/22/2012     EUR     63.84
VONTOBEL FIN PRO         12.627     6/22/2012     EUR     49.64
VONTOBEL FIN PRO         12.623     6/22/2012     EUR     39.56
VONTOBEL FIN PRO         12.600     6/22/2012     EUR     68.12
VONTOBEL FIN PRO         12.595     6/22/2012     EUR     51.84
VONTOBEL FIN PRO         12.578     6/22/2012     EUR     45.76
VONTOBEL FIN PRO         12.578     6/22/2012     EUR     69.36
VONTOBEL FIN PRO         12.547     6/22/2012     EUR     66.06
VONTOBEL FIN PRO         12.544     6/22/2012     EUR     41.42
VONTOBEL FIN PRO         12.537     6/22/2012     EUR     55.64
VONTOBEL FIN PRO         12.536     6/22/2012     EUR     57.56
VONTOBEL FIN PRO         12.532     6/22/2012     EUR     61.00
VONTOBEL FIN PRO         12.520     6/22/2012     EUR     53.35
VONTOBEL FIN PRO         12.512     6/22/2012     EUR     49.20
VONTOBEL FIN PRO         12.500     6/22/2012     EUR     67.74
VONTOBEL FIN PRO         12.500     6/22/2012     EUR     71.52
VONTOBEL FIN PRO         12.472     6/22/2012     EUR     67.06
VONTOBEL FIN PRO         12.462     6/22/2012     EUR     66.04
VONTOBEL FIN PRO         12.456     6/22/2012     EUR     54.60
VONTOBEL FIN PRO         12.451     6/22/2012     EUR     49.88
VONTOBEL FIN PRO         12.420     6/22/2012     EUR     22.52
VONTOBEL FIN PRO         12.403     6/22/2012     EUR     65.46
VONTOBEL FIN PRO         12.398     6/22/2012     EUR     66.98
VONTOBEL FIN PRO         12.393     6/22/2012     EUR     56.70
VONTOBEL FIN PRO         12.389     6/22/2012     EUR     71.88
VONTOBEL FIN PRO         12.389     6/22/2012     EUR     41.98
VONTOBEL FIN PRO         12.382     6/22/2012     EUR     55.48
VONTOBEL FIN PRO         12.370     6/22/2012     EUR     74.92
VONTOBEL FIN PRO         12.352     6/22/2012     EUR     57.80
VONTOBEL FIN PRO         12.348     6/22/2012     EUR     64.32
VONTOBEL FIN PRO         12.343     6/22/2012     EUR     39.28
VONTOBEL FIN PRO         12.340     6/22/2012     EUR     48.94
VONTOBEL FIN PRO         12.340     6/22/2012     EUR     59.37
VONTOBEL FIN PRO         12.323     6/22/2012     EUR     36.44
VONTOBEL FIN PRO         12.311     6/22/2012     EUR     67.46
VONTOBEL FIN PRO         12.306     6/22/2012     EUR     69.90
VONTOBEL FIN PRO         12.300     6/22/2012     EUR     50.26
VONTOBEL FIN PRO         12.298     6/22/2012     EUR     55.34
VONTOBEL FIN PRO         12.276     6/22/2012     EUR     49.26
VONTOBEL FIN PRO         12.260     6/22/2012     EUR     55.92
VONTOBEL FIN PRO         12.247     6/22/2012     EUR     51.58
VONTOBEL FIN PRO         12.226     6/22/2012     EUR     17.46
VONTOBEL FIN PRO         12.216     6/22/2012     EUR     61.84
VONTOBEL FIN PRO         12.204     6/22/2012     EUR     41.86
VONTOBEL FIN PRO         12.168     6/22/2012     EUR     57.20
VONTOBEL FIN PRO         12.164     6/22/2012     EUR     63.64
VONTOBEL FIN PRO         12.162     6/22/2012     EUR     69.42
VONTOBEL FIN PRO         12.148     6/22/2012     EUR     72.42
VONTOBEL FIN PRO         12.144     6/22/2012     EUR     65.06
VONTOBEL FIN PRO         12.123     6/22/2012     EUR     51.38
VONTOBEL FIN PRO         12.118     6/22/2012     EUR     71.22
VONTOBEL FIN PRO         12.117     6/22/2012     EUR     39.20
VONTOBEL FIN PRO         12.111     6/22/2012     EUR     66.36
VONTOBEL FIN PRO         12.103     6/22/2012     EUR     56.47
VONTOBEL FIN PRO         12.038     6/22/2012     EUR     69.35
VONTOBEL FIN PRO         12.025     6/22/2012     EUR     68.30
VONTOBEL FIN PRO         12.017     6/22/2012     EUR     57.28
VONTOBEL FIN PRO         12.013     6/22/2012     EUR     49.48
VONTOBEL FIN PRO         12.000     6/22/2012     EUR     53.78
VONTOBEL FIN PRO         12.000     6/22/2012     EUR     68.34
VONTOBEL FIN PRO         12.000     6/22/2012     EUR     62.94
VONTOBEL FIN PRO         11.983     6/22/2012     EUR     71.80
VONTOBEL FIN PRO         11.967     6/22/2012     EUR     57.32
VONTOBEL FIN PRO         11.959     6/22/2012     EUR     76.06
VONTOBEL FIN PRO         11.955     6/22/2012     EUR     34.96
VONTOBEL FIN PRO         11.952     6/22/2012     EUR     50.86
VONTOBEL FIN PRO         11.944     6/22/2012     EUR     60.28
VONTOBEL FIN PRO         11.917     6/22/2012     EUR     68.04
VONTOBEL FIN PRO         11.910     6/22/2012     EUR     52.94
VONTOBEL FIN PRO         11.900     6/22/2012     EUR     70.90
VONTOBEL FIN PRO         11.844     6/22/2012     EUR     52.84
VONTOBEL FIN PRO         11.819     6/22/2012     EUR     60.04
VONTOBEL FIN PRO         11.811     6/22/2012     EUR     42.14
VONTOBEL FIN PRO         11.808     6/22/2012     EUR     58.28
VONTOBEL FIN PRO         11.807     6/22/2012     EUR     53.28
VONTOBEL FIN PRO         11.807     6/22/2012     EUR     56.34
VONTOBEL FIN PRO         11.800     6/22/2012     EUR     65.34
VONTOBEL FIN PRO         11.791     6/22/2012     EUR     66.50
VONTOBEL FIN PRO         11.778     6/22/2012     EUR     42.44
VONTOBEL FIN PRO         11.774     6/22/2012     EUR     44.12
VONTOBEL FIN PRO         11.750     6/22/2012     EUR     50.80
VONTOBEL FIN PRO         11.736     6/22/2012     EUR     36.44
VONTOBEL FIN PRO         11.713     6/22/2012     EUR     75.26
VONTOBEL FIN PRO         11.705     6/22/2012     EUR     43.39
VONTOBEL FIN PRO         11.693     6/22/2012     EUR     42.90
VONTOBEL FIN PRO         11.668     6/22/2012     EUR     69.78
VONTOBEL FIN PRO         11.622     6/22/2012     EUR     59.46
VONTOBEL FIN PRO         11.614     6/22/2012     EUR     51.74
VONTOBEL FIN PRO         11.600     6/22/2012     EUR     50.70
VONTOBEL FIN PRO         11.591     6/22/2012     EUR     62.40
VONTOBEL FIN PRO         11.586     6/22/2012     EUR     55.97
VONTOBEL FIN PRO         11.585     6/22/2012     EUR     75.02
VONTOBEL FIN PRO         11.582     6/22/2012     EUR     60.28
VONTOBEL FIN PRO         11.581     6/22/2012     EUR     52.44
VONTOBEL FIN PRO         11.566     6/22/2012     EUR     54.00
VONTOBEL FIN PRO         11.560     6/22/2012     EUR     35.86
VONTOBEL FIN PRO         11.556     6/22/2012     EUR     74.44
VONTOBEL FIN PRO         11.554     6/22/2012     EUR     72.70
VONTOBEL FIN PRO         11.554     6/22/2012     EUR     61.04
VONTOBEL FIN PRO         11.550     6/22/2012     EUR     67.22
VONTOBEL FIN PRO         11.546     6/22/2012     EUR     74.50
VONTOBEL FIN PRO         11.534     6/22/2012     EUR     56.38
VONTOBEL FIN PRO         11.514     6/22/2012     EUR     73.90
VONTOBEL FIN PRO         11.484     6/22/2012     EUR     63.60
VONTOBEL FIN PRO         11.455     6/22/2012     EUR     56.66
VONTOBEL FIN PRO         11.443     6/22/2012     EUR     68.10
VONTOBEL FIN PRO         11.425     6/22/2012     EUR     73.54
VONTOBEL FIN PRO         11.425     6/22/2012     EUR     50.76
VONTOBEL FIN PRO         11.425     6/22/2012     EUR     65.70
VONTOBEL FIN PRO         11.422     6/22/2012     EUR     42.36
VONTOBEL FIN PRO         11.409     6/22/2012     EUR     59.00
VONTOBEL FIN PRO         11.405     6/22/2012     EUR     73.10
VONTOBEL FIN PRO         11.405     6/22/2012     EUR     72.84
VONTOBEL FIN PRO         11.396     6/22/2012     EUR     52.61
VONTOBEL FIN PRO         11.394     6/22/2012     EUR     73.76
VONTOBEL FIN PRO         11.389     6/22/2012     EUR     69.24
VONTOBEL FIN PRO         11.389     6/22/2012     EUR     67.74
VONTOBEL FIN PRO         11.388     6/22/2012     EUR     75.76
VONTOBEL FIN PRO         11.377     6/22/2012     EUR     46.78
VONTOBEL FIN PRO         11.366     6/22/2012     EUR     59.34
VONTOBEL FIN PRO         11.361     6/22/2012     EUR     49.52
VONTOBEL FIN PRO         11.356     6/22/2012     EUR     73.02
VONTOBEL FIN PRO         11.333     6/22/2012     EUR     68.30
VONTOBEL FIN PRO         11.328     6/22/2012     EUR     64.48
VONTOBEL FIN PRO         11.319     6/22/2012     EUR     45.74
VONTOBEL FIN PRO         11.304     6/22/2012     EUR     53.28
VONTOBEL FIN PRO         11.296     6/22/2012     EUR     63.78
VONTOBEL FIN PRO         11.287     6/22/2012     EUR     71.96
VONTOBEL FIN PRO         11.283     6/22/2012     EUR     48.74
VONTOBEL FIN PRO         11.238     6/22/2012     EUR     47.00
VONTOBEL FIN PRO         11.237     6/22/2012     EUR     73.06
VONTOBEL FIN PRO         11.219     6/22/2012     EUR     64.25
VONTOBEL FIN PRO         11.219     6/22/2012     EUR     74.76
VONTOBEL FIN PRO         11.219     6/22/2012     EUR     58.82
VONTOBEL FIN PRO         11.194     6/22/2012     EUR     64.94
VONTOBEL FIN PRO         11.138     6/22/2012     EUR     72.98
VONTOBEL FIN PRO         11.135     6/22/2012     EUR     71.44
VONTOBEL FIN PRO         11.130     6/22/2012     EUR     69.77
VONTOBEL FIN PRO         11.129     6/22/2012     EUR     70.24
VONTOBEL FIN PRO         11.117     6/22/2012     EUR     65.50
VONTOBEL FIN PRO         11.103     6/22/2012     EUR     64.42
VONTOBEL FIN PRO         11.098     6/22/2012     EUR     68.04
VONTOBEL FIN PRO         11.080     6/22/2012     EUR     66.44
VONTOBEL FIN PRO         11.080     6/22/2012     EUR     69.34
VONTOBEL FIN PRO         11.056     6/22/2012     EUR     69.72
VONTOBEL FIN PRO         11.052     6/22/2012     EUR     49.32
VONTOBEL FIN PRO         11.029     6/22/2012     EUR     61.40
VONTOBEL FIN PRO         11.027     6/22/2012     EUR     76.02
VONTOBEL FIN PRO         11.019     6/22/2012     EUR     54.12
VONTOBEL FIN PRO         10.980     6/22/2012     EUR     67.08
VONTOBEL FIN PRO         10.970     6/22/2012     EUR     69.42
VONTOBEL FIN PRO         10.955     6/22/2012     EUR     68.02
VONTOBEL FIN PRO         10.925     6/22/2012     EUR     49.68
VONTOBEL FIN PRO         10.925     6/22/2012     EUR     68.12
VONTOBEL FIN PRO         10.925     6/22/2012     EUR     52.68
VONTOBEL FIN PRO         10.920     6/22/2012     EUR     38.72
VONTOBEL FIN PRO         10.920     6/22/2012     EUR     74.72
VONTOBEL FIN PRO         10.918     6/22/2012     EUR     71.28
VONTOBEL FIN PRO         10.909     6/22/2012     EUR     34.66
VONTOBEL FIN PRO         10.890     6/22/2012     EUR     75.88
VONTOBEL FIN PRO         10.878     6/22/2012     EUR     56.08
VONTOBEL FIN PRO         10.847     6/22/2012     EUR     60.80
VONTOBEL FIN PRO         10.843     6/22/2012     EUR     58.30
VONTOBEL FIN PRO         10.837     6/22/2012     EUR     72.94
VONTOBEL FIN PRO         10.833     6/22/2012     EUR     43.18
VONTOBEL FIN PRO         10.800     6/22/2012     EUR     35.78
VONTOBEL FIN PRO         10.791     6/22/2012     EUR     70.56
VONTOBEL FIN PRO         10.789     6/22/2012     EUR     75.28
VONTOBEL FIN PRO         10.781     6/22/2012     EUR     72.92
VONTOBEL FIN PRO         10.779     6/22/2012     EUR     58.34
VONTOBEL FIN PRO         10.761     6/22/2012     EUR     64.32
VONTOBEL FIN PRO         10.760     6/22/2012     EUR     66.08
VONTOBEL FIN PRO         10.759     6/22/2012     EUR     67.81
VONTOBEL FIN PRO         10.757     6/22/2012     EUR     72.28
VONTOBEL FIN PRO         10.757     6/22/2012     EUR     55.12
VONTOBEL FIN PRO         10.726     6/22/2012     EUR     44.86
VONTOBEL FIN PRO         10.724     6/22/2012     EUR     52.98
VONTOBEL FIN PRO         10.703     6/22/2012     EUR     72.50
VONTOBEL FIN PRO         10.697     6/22/2012     EUR     74.46
VONTOBEL FIN PRO         10.668     6/22/2012     EUR     67.98
VONTOBEL FIN PRO         10.668     6/22/2012     EUR     64.24
VONTOBEL FIN PRO         10.660     6/22/2012     EUR     40.26
VONTOBEL FIN PRO         10.642     6/22/2012     EUR     55.39
VONTOBEL FIN PRO         10.620     6/22/2012     EUR     61.60
VONTOBEL FIN PRO         10.612     6/22/2012     EUR     63.74
VONTOBEL FIN PRO         10.611     6/22/2012     EUR     74.68
VONTOBEL FIN PRO         10.607     6/22/2012     EUR     48.74
VONTOBEL FIN PRO         10.577     6/22/2012     EUR     58.94
VONTOBEL FIN PRO         10.571     6/22/2012     EUR     74.30
VONTOBEL FIN PRO         10.567     6/22/2012     EUR     54.86
VONTOBEL FIN PRO         10.556     6/22/2012     EUR     73.96
VONTOBEL FIN PRO         10.548     6/22/2012     EUR     52.20
VONTOBEL FIN PRO         10.539     6/22/2012     EUR     73.40
VONTOBEL FIN PRO         10.528     6/22/2012     EUR     59.09
VONTOBEL FIN PRO         10.520     6/22/2012     EUR     41.94
VONTOBEL FIN PRO         10.500     6/22/2012     EUR     53.58
VONTOBEL FIN PRO         10.490     6/22/2012     EUR     43.04
VONTOBEL FIN PRO         10.486     6/22/2012     EUR     36.72
VONTOBEL FIN PRO         10.478     6/22/2012     EUR     70.84
VONTOBEL FIN PRO         10.476     6/22/2012     EUR     23.80
VONTOBEL FIN PRO         10.458     6/22/2012     EUR     64.90
VONTOBEL FIN PRO         10.440     6/22/2012     EUR     59.88
VONTOBEL FIN PRO         10.439     6/22/2012     EUR     45.18
VONTOBEL FIN PRO         10.438     6/22/2012     EUR     61.06
VONTOBEL FIN PRO         10.415     6/22/2012     EUR     69.11
VONTOBEL FIN PRO         10.402     6/22/2012     EUR     58.68
VONTOBEL FIN PRO         10.389     6/22/2012     EUR     70.32
VONTOBEL FIN PRO         10.371     6/22/2012     EUR     55.64
VONTOBEL FIN PRO         10.364     6/22/2012     EUR     68.00
VONTOBEL FIN PRO         10.364     6/22/2012     EUR     68.00
VONTOBEL FIN PRO         10.333     6/22/2012     EUR     70.82
VONTOBEL FIN PRO         10.325     6/22/2012     EUR     68.24
VONTOBEL FIN PRO         10.286     6/22/2012     EUR     63.36
VONTOBEL FIN PRO         10.278     6/22/2012     EUR     43.70
VONTOBEL FIN PRO         10.274     6/22/2012     EUR     72.46
VONTOBEL FIN PRO         10.273     6/22/2012     EUR     58.64
VONTOBEL FIN PRO         10.272     6/22/2012     EUR     70.60
VONTOBEL FIN PRO         10.264     6/22/2012     EUR     52.73
VONTOBEL FIN PRO         10.260     6/22/2012     EUR     43.44
VONTOBEL FIN PRO         10.257     6/22/2012     EUR     53.70
VONTOBEL FIN PRO         10.254     6/22/2012     EUR     64.54
VONTOBEL FIN PRO         10.246     6/22/2012     EUR     70.80
VONTOBEL FIN PRO         10.244     6/22/2012     EUR     68.06
VONTOBEL FIN PRO         10.222     6/22/2012     EUR     62.78
VONTOBEL FIN PRO         10.222     6/22/2012     EUR     70.58
VONTOBEL FIN PRO         10.207     6/22/2012     EUR     60.14
VONTOBEL FIN PRO         10.186     6/22/2012     EUR     65.84
VONTOBEL FIN PRO         10.185     6/22/2012     EUR     75.06
VONTOBEL FIN PRO         10.167     6/22/2012     EUR     50.48
VONTOBEL FIN PRO         10.167     6/22/2012     EUR     68.00
VONTOBEL FIN PRO         10.142     6/22/2012     EUR     61.58
VONTOBEL FIN PRO         10.116     6/22/2012     EUR     54.74
VONTOBEL FIN PRO         10.113     6/22/2012     EUR     74.48
VONTOBEL FIN PRO         10.110     6/22/2012     EUR     35.90
VONTOBEL FIN PRO         10.107     6/22/2012     EUR     61.40
VONTOBEL FIN PRO         10.100     6/22/2012     EUR     56.08
VONTOBEL FIN PRO         10.098     6/22/2012     EUR     68.10
VONTOBEL FIN PRO         10.073     6/22/2012     EUR     72.50
VONTOBEL FIN PRO         10.070     6/22/2012     EUR     74.80
VONTOBEL FIN PRO         10.050     6/22/2012     EUR     68.44
VONTOBEL FIN PRO         10.048     6/22/2012     EUR     73.90
VONTOBEL FIN PRO         10.038     6/22/2012     EUR     50.00
VONTOBEL FIN PRO         10.030     6/22/2012     EUR     67.00
VONTOBEL FIN PRO         10.028     6/22/2012     EUR     62.44
VONTOBEL FIN PRO         10.028     6/22/2012     EUR     68.60
VONTOBEL FIN PRO         10.026     6/22/2012     EUR     66.78
VONTOBEL FIN PRO         10.000     6/22/2012     EUR     67.10
VONTOBEL FIN PRO          9.991     6/22/2012     EUR     55.30
VONTOBEL FIN PRO          9.969     6/22/2012     EUR     43.02
VONTOBEL FIN PRO          9.960     6/22/2012     EUR     69.54
VONTOBEL FIN PRO          9.957     6/22/2012     EUR     54.82
VONTOBEL FIN PRO          9.921     6/22/2012     EUR     67.12
VONTOBEL FIN PRO          9.918     6/22/2012     EUR     60.42
VONTOBEL FIN PRO          9.892     6/22/2012     EUR     63.28
VONTOBEL FIN PRO          9.887     6/22/2012     EUR     58.34
VONTOBEL FIN PRO          9.880     6/22/2012     EUR     71.76
VONTOBEL FIN PRO          9.871     6/22/2012     EUR     66.98
VONTOBEL FIN PRO          9.839     6/22/2012     EUR     70.36
VONTOBEL FIN PRO          9.832     6/22/2012     EUR     70.22
VONTOBEL FIN PRO          9.797     6/22/2012     EUR     53.72
VONTOBEL FIN PRO          9.790     6/22/2012     EUR     75.04
VONTOBEL FIN PRO          9.781     6/22/2012     EUR     50.74
VONTOBEL FIN PRO          9.732     6/22/2012     EUR     73.14
VONTOBEL FIN PRO          9.724     6/22/2012     EUR     65.26
VONTOBEL FIN PRO          9.716     6/22/2012     EUR     70.80
VONTOBEL FIN PRO          9.709     6/22/2012     EUR     46.72
VONTOBEL FIN PRO          9.709     6/22/2012     EUR     38.68
VONTOBEL FIN PRO          9.699     6/22/2012     EUR     46.96
VONTOBEL FIN PRO          9.698     6/22/2012     EUR     60.60
VONTOBEL FIN PRO          9.689     6/22/2012     EUR     73.00
VONTOBEL FIN PRO          9.689     6/22/2012     EUR     62.70
VONTOBEL FIN PRO          9.689     6/22/2012     EUR     71.74
VONTOBEL FIN PRO          9.684     6/22/2012     EUR     69.84
VONTOBEL FIN PRO          9.674     6/22/2012     EUR     70.76
VONTOBEL FIN PRO          9.673     6/22/2012     EUR     48.24
VONTOBEL FIN PRO          9.658     6/22/2012     EUR     63.99
VONTOBEL FIN PRO          9.627     6/22/2012     EUR     52.30
VONTOBEL FIN PRO          9.623     6/22/2012     EUR     35.92
VONTOBEL FIN PRO          9.623     6/22/2012     EUR     43.78
VONTOBEL FIN PRO          9.606     6/22/2012     EUR     65.54
VONTOBEL FIN PRO          9.576     6/22/2012     EUR     58.16
VONTOBEL FIN PRO          9.557     6/22/2012     EUR     69.08
VONTOBEL FIN PRO          9.556     6/22/2012     EUR     22.12
VONTOBEL FIN PRO          9.553     6/22/2012     EUR     61.46
VONTOBEL FIN PRO          9.553     6/22/2012     EUR     63.82
VONTOBEL FIN PRO          9.550     6/22/2012     EUR     70.94
VONTOBEL FIN PRO          9.547     6/22/2012     EUR     62.30
VONTOBEL FIN PRO          9.534     6/22/2012     EUR     74.52
VONTOBEL FIN PRO          9.534     6/22/2012     EUR     68.46
VONTOBEL FIN PRO          9.524     6/22/2012     EUR     65.94
VONTOBEL FIN PRO          9.511     6/22/2012     EUR     61.56
VONTOBEL FIN PRO          9.493     6/22/2012     EUR     73.92
VONTOBEL FIN PRO          9.472     6/22/2012     EUR     34.01
VONTOBEL FIN PRO          9.472     6/22/2012     EUR     60.16
VONTOBEL FIN PRO          9.466     6/22/2012     EUR     58.94
VONTOBEL FIN PRO          9.461     6/22/2012     EUR     63.62
VONTOBEL FIN PRO          9.454     6/22/2012     EUR     37.66
VONTOBEL FIN PRO          9.448     6/22/2012     EUR     69.12
VONTOBEL FIN PRO          9.443     6/22/2012     EUR     74.92
VONTOBEL FIN PRO          9.414     6/22/2012     EUR     56.34
VONTOBEL FIN PRO          9.411     6/22/2012     EUR     63.28
VONTOBEL FIN PRO          9.405     6/22/2012     EUR     70.44
VONTOBEL FIN PRO          9.396     6/22/2012     EUR     67.00
VONTOBEL FIN PRO          9.389     6/22/2012     EUR     44.50
VONTOBEL FIN PRO         10.028     4/20/2012     EUR     41.70
VONTOBEL FIN PRO         11.031     4/20/2012     EUR     70.20
VONTOBEL FIN PRO         10.659     4/27/2012     EUR     62.10
VONTOBEL FIN PRO         12.067     4/27/2012     EUR     73.40
VONTOBEL FIN PRO         12.067      5/4/2012     EUR     55.10
VONTOBEL FIN PRO         13.173      5/4/2012     EUR     44.60
VONTOBEL FIN PRO         10.056     5/11/2012     EUR     54.80
VONTOBEL FIN PRO         10.961     5/18/2012     EUR     54.30
VONTOBEL FIN PRO         12.168     5/18/2012     EUR     36.10
VONTOBEL FIN PRO         11.564     5/25/2012     EUR     42.00
VONTOBEL FIN PRO         10.358      6/1/2012     EUR     64.00
VONTOBEL FIN PRO         12.369      6/1/2012     EUR     36.60
VONTOBEL FIN PRO          7.889      6/6/2012     EUR     62.60
VONTOBEL FIN PRO         10.056      6/8/2012     EUR     73.60
VONTOBEL FIN PRO         11.464      6/8/2012     EUR     64.20
VONTOBEL FIN PRO         10.358     6/15/2012     EUR     44.90
VONTOBEL FIN PRO         10.458     6/15/2012     EUR     51.00
VONTOBEL FIN PRO          9.672     9/28/2012     EUR     57.30
VONTOBEL FIN PRO          9.634     9/28/2012     EUR     62.60
VONTOBEL FIN PRO          9.557     9/28/2012     EUR     73.74
VONTOBEL FIN PRO          9.532     9/28/2012     EUR     72.68
VONTOBEL FIN PRO          9.523     9/28/2012     EUR     67.32
VONTOBEL FIN PRO          9.523     9/28/2012     EUR     43.10
VONTOBEL FIN PRO          9.492     9/28/2012     EUR     61.08
VONTOBEL FIN PRO          9.776     9/28/2012     EUR     65.24
VONTOBEL FIN PRO          9.803     9/28/2012     EUR     69.36
VONTOBEL FIN PRO          9.803     9/28/2012     EUR     69.36
VONTOBEL FIN PRO          9.860     9/28/2012     EUR     72.80
VONTOBEL FIN PRO          9.877     9/28/2012     EUR     55.98
VONTOBEL FIN PRO          9.900     9/28/2012     EUR     67.48
VONTOBEL FIN PRO          9.926     9/28/2012     EUR     65.74
VONTOBEL FIN PRO          9.950     9/28/2012     EUR     63.04
VONTOBEL FIN PRO          9.986     9/28/2012     EUR     72.36
VONTOBEL FIN PRO         10.000     9/28/2012     EUR     51.76
VONTOBEL FIN PRO         10.014     9/28/2012     EUR     56.02
VONTOBEL FIN PRO         10.046     9/28/2012     EUR     57.02
VONTOBEL FIN PRO         10.046     9/28/2012     EUR     70.44
VONTOBEL FIN PRO         10.083     9/28/2012     EUR     70.48
VONTOBEL FIN PRO         10.083     9/28/2012     EUR     61.28
VONTOBEL FIN PRO         10.123     9/28/2012     EUR     58.16
VONTOBEL FIN PRO         10.155     9/28/2012     EUR     72.54
VONTOBEL FIN PRO         10.241     9/28/2012     EUR     74.76
VONTOBEL FIN PRO         10.320     9/28/2012     EUR     72.36
VONTOBEL FIN PRO         10.336     9/28/2012     EUR     59.60
VONTOBEL FIN PRO         10.344     9/28/2012     EUR     55.12
VONTOBEL FIN PRO         10.366     9/28/2012     EUR     63.10
VONTOBEL FIN PRO         10.494     9/28/2012     EUR     42.18
VONTOBEL FIN PRO         10.539     9/28/2012     EUR     61.88
VONTOBEL FIN PRO         10.556     9/28/2012     EUR     48.52
VONTOBEL FIN PRO         10.600     9/28/2012     EUR     69.68
VONTOBEL FIN PRO         10.678     9/28/2012     EUR     74.84
VONTOBEL FIN PRO         10.722     9/28/2012     EUR     66.98
VONTOBEL FIN PRO         10.755     9/28/2012     EUR     70.42
VONTOBEL FIN PRO         10.825     9/28/2012     EUR     74.84
VONTOBEL FIN PRO         10.830     9/28/2012     EUR     61.54
VONTOBEL FIN PRO         10.830     9/28/2012     EUR     59.56
VONTOBEL FIN PRO         10.850     9/28/2012     EUR     56.54
VONTOBEL FIN PRO         10.905     9/28/2012     EUR     69.68
VONTOBEL FIN PRO         10.905     9/28/2012     EUR     65.66
VONTOBEL FIN PRO         10.909     9/28/2012     EUR     64.46
VONTOBEL FIN PRO         10.915     9/28/2012     EUR     68.34
VONTOBEL FIN PRO         10.971     9/28/2012     EUR     69.86
VONTOBEL FIN PRO         10.989     9/28/2012     EUR     63.68
VONTOBEL FIN PRO         11.014     9/28/2012     EUR     75.14
VONTOBEL FIN PRO         11.017     9/28/2012     EUR     68.66
VONTOBEL FIN PRO         11.027     9/28/2012     EUR     69.70
VONTOBEL FIN PRO         11.028     9/28/2012     EUR     71.48
VONTOBEL FIN PRO         11.035     9/28/2012     EUR     66.36
VONTOBEL FIN PRO         11.077     9/28/2012     EUR     53.41
VONTOBEL FIN PRO         11.100     9/28/2012     EUR     71.32
VONTOBEL FIN PRO         11.119     9/28/2012     EUR     62.06
VONTOBEL FIN PRO         11.119     9/28/2012     EUR     71.82
VONTOBEL FIN PRO         11.145     9/28/2012     EUR     58.34
VONTOBEL FIN PRO         11.187     9/28/2012     EUR     65.12
VONTOBEL FIN PRO         11.197     9/28/2012     EUR     65.86
VONTOBEL FIN PRO         11.200     9/28/2012     EUR     74.56
VONTOBEL FIN PRO         11.229     9/28/2012     EUR     69.02
VONTOBEL FIN PRO         11.241     9/28/2012     EUR     75.10
VONTOBEL FIN PRO         11.245     9/28/2012     EUR     75.76
VONTOBEL FIN PRO         11.250     9/28/2012     EUR     68.70
VONTOBEL FIN PRO         11.350     9/28/2012     EUR     74.40
VONTOBEL FIN PRO         11.357     9/28/2012     EUR     62.50
VONTOBEL FIN PRO         11.497     9/28/2012     EUR     70.28
VONTOBEL FIN PRO         11.502     9/28/2012     EUR     51.84
VONTOBEL FIN PRO         11.502     9/28/2012     EUR     41.38
VONTOBEL FIN PRO         11.514     9/28/2012     EUR     67.28
VONTOBEL FIN PRO         11.577     9/28/2012     EUR     52.84
VONTOBEL FIN PRO         11.580     9/28/2012     EUR     70.52
VONTOBEL FIN PRO         11.676     9/28/2012     EUR     57.52
VONTOBEL FIN PRO         11.698     9/28/2012     EUR     69.32
VONTOBEL FIN PRO         11.764     9/28/2012     EUR     62.66
VONTOBEL FIN PRO         11.790     9/28/2012     EUR     54.92
VONTOBEL FIN PRO         11.797     9/28/2012     EUR     59.39
VONTOBEL FIN PRO         11.816     9/28/2012     EUR     70.06
VONTOBEL FIN PRO         11.895     9/28/2012     EUR     46.64
VONTOBEL FIN PRO         11.900     9/28/2012     EUR     58.52
VONTOBEL FIN PRO         11.950     9/28/2012     EUR     75.22
VONTOBEL FIN PRO         12.050     9/28/2012     EUR     76.96
VONTOBEL FIN PRO         12.056     9/28/2012     EUR     58.56
VONTOBEL FIN PRO         12.067     9/28/2012     EUR     57.18
VONTOBEL FIN PRO         12.086     9/28/2012     EUR     74.36
VONTOBEL FIN PRO         12.131     9/28/2012     EUR     61.84
VONTOBEL FIN PRO         12.168     9/28/2012     EUR     75.83
VONTOBEL FIN PRO         12.211     9/28/2012     EUR     74.84
VONTOBEL FIN PRO         12.211     9/28/2012     EUR     74.84
VONTOBEL FIN PRO         12.350     9/28/2012     EUR     54.86
VONTOBEL FIN PRO         12.350     9/28/2012     EUR     47.94
VONTOBEL FIN PRO         12.398     9/28/2012     EUR     73.92
VONTOBEL FIN PRO         12.398     9/28/2012     EUR     54.00
VONTOBEL FIN PRO         12.436     9/28/2012     EUR     66.98
VONTOBEL FIN PRO         12.471     9/28/2012     EUR     66.86
VONTOBEL FIN PRO         12.676     9/28/2012     EUR     69.02
VONTOBEL FIN PRO         12.761     9/28/2012     EUR     59.38
VONTOBEL FIN PRO         12.770     9/28/2012     EUR     71.42
VONTOBEL FIN PRO         12.800     9/28/2012     EUR     65.92
VONTOBEL FIN PRO         12.847     9/28/2012     EUR     71.60
VONTOBEL FIN PRO         12.847     9/28/2012     EUR     50.88
VONTOBEL FIN PRO         12.857     9/28/2012     EUR     56.16
VONTOBEL FIN PRO         12.857     9/28/2012     EUR     75.58
VONTOBEL FIN PRO          9.405     9/28/2012     EUR     66.56
VONTOBEL FIN PRO          9.400     9/28/2012     EUR     57.06
VONTOBEL FIN PRO          9.386     9/28/2012     EUR     72.44
VONTOBEL FIN PRO          9.345     9/28/2012     EUR     71.50
VONTOBEL FIN PRO         12.943     9/28/2012     EUR     71.40
VONTOBEL FIN PRO         12.965     9/28/2012     EUR     68.38
VONTOBEL FIN PRO         13.071     9/28/2012     EUR     65.84
VONTOBEL FIN PRO          9.324     9/28/2012     EUR     70.38
VONTOBEL FIN PRO         13.135     9/28/2012     EUR     60.32
VONTOBEL FIN PRO         13.257     9/28/2012     EUR     55.58
VONTOBEL FIN PRO         13.259     9/28/2012     EUR     52.44
VONTOBEL FIN PRO          9.284     9/28/2012     EUR     61.20
VONTOBEL FIN PRO          9.273     9/28/2012     EUR     66.88
VONTOBEL FIN PRO          9.112     9/28/2012     EUR     72.36
VONTOBEL FIN PRO          9.100     9/28/2012     EUR     74.38
VONTOBEL FIN PRO          9.063     9/28/2012     EUR     77.06
VONTOBEL FIN PRO          9.037     9/28/2012     EUR     55.42
VONTOBEL FIN PRO          9.037     9/28/2012     EUR     64.56
VONTOBEL FIN PRO          9.030     9/28/2012     EUR     75.78
VONTOBEL FIN PRO          8.980     9/28/2012     EUR     74.94
VONTOBEL FIN PRO          8.937     9/28/2012     EUR     74.62
VONTOBEL FIN PRO          8.878     9/28/2012     EUR     70.56
VONTOBEL FIN PRO          8.862     9/28/2012     EUR     72.46
VONTOBEL FIN PRO          8.786     9/28/2012     EUR     62.18
VONTOBEL FIN PRO          8.739     9/28/2012     EUR     67.92
VONTOBEL FIN PRO          8.705     9/28/2012     EUR     70.12
VONTOBEL FIN PRO          8.657     9/28/2012     EUR     73.84
VONTOBEL FIN PRO          8.626     9/28/2012     EUR     63.50
VONTOBEL FIN PRO          8.620     9/28/2012     EUR     65.56
VONTOBEL FIN PRO         13.352     9/28/2012     EUR     45.06
VONTOBEL FIN PRO         13.469     9/28/2012     EUR     54.51
VONTOBEL FIN PRO         13.950     9/28/2012     EUR     53.42
VONTOBEL FIN PRO         14.150     9/28/2012     EUR     54.42
VONTOBEL FIN PRO         14.154     9/28/2012     EUR     49.16
VONTOBEL FIN PRO         14.191     9/28/2012     EUR     49.08
VONTOBEL FIN PRO         17.333     6/22/2012     EUR     44.28
VONTOBEL FIN PRO         17.260     6/22/2012     EUR     15.38
VONTOBEL FIN PRO         17.189     6/22/2012     EUR     63.36
VONTOBEL FIN PRO         16.900     6/22/2012     EUR     71.56
VONTOBEL FIN PRO         16.864     6/22/2012     EUR     65.04
VONTOBEL FIN PRO         16.850     6/22/2012     EUR     70.66
VONTOBEL FIN PRO         16.833     6/22/2012     EUR     67.30
VONTOBEL FIN PRO         16.746     6/22/2012     EUR     18.60
VONTOBEL FIN PRO         16.667     6/22/2012     EUR     20.66
VONTOBEL FIN PRO         16.611     6/22/2012     EUR     65.78
VONTOBEL FIN PRO         16.600     6/22/2012     EUR     70.56
VONTOBEL FIN PRO         16.595     6/22/2012     EUR     52.02
VONTOBEL FIN PRO         16.497     6/22/2012     EUR     19.52
VONTOBEL FIN PRO         16.488     6/22/2012     EUR     20.56
VONTOBEL FIN PRO         16.389     6/22/2012     EUR     70.28
VONTOBEL FIN PRO         16.293     6/22/2012     EUR     62.00
VONTOBEL FIN PRO         16.156     6/22/2012     EUR     57.98
VONTOBEL FIN PRO         16.150     6/22/2012     EUR     51.10
VONTOBEL FIN PRO         16.110     6/22/2012     EUR     16.22
VONTOBEL FIN PRO         16.000     6/22/2012     EUR     71.98
VONTOBEL FIN PRO         15.979     6/22/2012     EUR     60.38
VONTOBEL FIN PRO         15.950     6/22/2012     EUR     61.14
VONTOBEL FIN PRO         15.944     6/22/2012     EUR     73.90
VONTOBEL FIN PRO         15.940     6/22/2012     EUR     36.44
VONTOBEL FIN PRO         15.920     6/22/2012     EUR     16.88
VONTOBEL FIN PRO         15.856     6/22/2012     EUR     64.56
VONTOBEL FIN PRO         15.840     6/22/2012     EUR     44.98
VONTOBEL FIN PRO         15.526     6/22/2012     EUR     49.52
VONTOBEL FIN PRO         15.448     6/22/2012     EUR     43.52
VONTOBEL FIN PRO         15.370     6/22/2012     EUR     43.88
VONTOBEL FIN PRO         15.308     6/22/2012     EUR     41.74
VONTOBEL FIN PRO         15.258     6/22/2012     EUR     63.80
VONTOBEL FIN PRO         15.250     6/22/2012     EUR     58.34
VONTOBEL FIN PRO         15.167     6/22/2012     EUR     46.38
VONTOBEL FIN PRO         15.091     6/22/2012     EUR     55.02
VONTOBEL FIN PRO         15.081     6/22/2012     EUR     67.36
VONTOBEL FIN PRO         14.821     6/22/2012     EUR     37.56
VONTOBEL FIN PRO         14.791     6/22/2012     EUR     19.24
VONTOBEL FIN PRO         14.717     6/22/2012     EUR     42.84
VONTOBEL FIN PRO         14.712     6/22/2012     EUR     39.04
VONTOBEL FIN PRO         14.680     6/22/2012     EUR     42.46
VONTOBEL FIN PRO         14.652     6/22/2012     EUR     57.94
VONTOBEL FIN PRO         14.640     6/22/2012     EUR     64.88
WESTLB AG                 5.000     4/12/2016     EUR     29.01
WESTLB AG                 0.100     9/27/2012     EUR     72.00
WESTLB AG                 0.100     9/27/2012     EUR     46.60
WESTLB AG                 0.075     9/27/2012     EUR     68.28
WESTLB AG                 0.075     9/27/2012     EUR     76.45
WESTLB AG                 0.075     9/27/2012     EUR     69.01
WESTLB AG                 0.075     9/27/2012     EUR     71.77
WESTLB AG                 6.750     7/30/2012     EUR     68.91
WESTLB AG                 8.500     6/21/2012     EUR     75.13
WESTLB AG                 6.000     6/21/2012     EUR     66.70
WESTLB AG                 7.000     6/21/2012     EUR     63.40
WESTLB AG                 7.000     6/21/2012     EUR     74.04
WESTLB AG                 8.500     6/21/2012     EUR     58.32
WESTLB AG                 5.250     5/21/2012     EUR     64.45
WESTLB AG                 6.000     6/21/2012     EUR     71.05
WESTLB AG                 8.500     6/21/2012     EUR     59.57
WGZ BANK                  7.000    12/28/2012     EUR     69.29
WGZ BANK                  8.000    12/28/2012     EUR     65.93
WGZ BANK                  6.000    12/28/2012     EUR     73.04
WGZ BANK                  8.000    12/21/2012     EUR     71.36
WGZ BANK                  7.000    12/21/2012     EUR     73.08
WGZ BANK                  8.000    12/20/2012     EUR     71.34
WGZ BANK                  7.000    12/20/2012     EUR     72.90
WGZ BANK                  8.000     6/21/2012     EUR     70.07
WGZ BANK                  7.000     6/21/2012     EUR     72.56
WGZ BANK                  8.000     6/13/2012     EUR     37.95
WGZ BANK                  7.000     6/13/2012     EUR     39.56
WGZ BANK                  6.000     6/13/2012     EUR     41.34
WGZ BANK                  5.000     6/13/2012     EUR     43.32
WGZ BANK                  4.000     6/13/2012     EUR     48.15

GREECE
------
HELLENIC REPUB            4.625     6/25/2013     USD     21.13
HELLENIC REPUB            2.125      7/5/2013     CHF     36.50
HELLENIC REPUB            5.000     3/11/2019     EUR     27.38
HELLENIC REPUB            6.140     4/14/2028     EUR     18.00
HELLENIC REPUB            5.200     7/17/2034     EUR     15.75
NATL BK GREECE            3.875     10/7/2016     EUR     69.51
YIOULA GLASSWORK          9.000     12/1/2015     EUR     51.50
YIOULA GLASSWORK          9.000     12/1/2015     EUR     51.88

GUERNSEY
--------
BCV GUERNSEY              8.020      3/1/2013     EUR     66.47
BCV GUERNSEY             19.200     5/17/2012     EUR     44.67
BCV GUERNSEY             10.030     5/11/2012     CHF     72.42
BCV GUERNSEY              8.120     5/11/2012     CHF     69.69
BCV GUERNSEY             18.600     5/17/2012     USD     43.01
BCV GUERNSEY             18.150     5/17/2012     CHF     42.67
BCV GUERNSEY             10.030     4/20/2012     CHF     67.83
BCV GUERNSEY              7.250     5/25/2012     CHF     70.24
BCV GUERNSEY             13.000     5/18/2012     CHF     59.62
BCV GUERNSEY             10.130     5/11/2012     EUR     71.72
BCV GUERNSEY              8.500     5/25/2012     EUR     55.84
BCV GUERNSEY              9.100     5/25/2012     CHF     64.08
BCV GUERNSEY              9.030     7/13/2012     EUR     71.53
BCV GUERNSEY             10.000     5/18/2012     CHF     53.10
BCV GUERNSEY              7.850     5/18/2012     CHF     69.92
BCV GUERNSEY             10.100     5/23/2012     EUR     67.84
BKB FINANCE               6.520      7/6/2012     EUR     75.32
BKB FINANCE               7.400     6/28/2012     CHF     68.89
BKB FINANCE               9.200     6/21/2012     CHF     62.82
BKB FINANCE               7.650     6/14/2012     CHF     69.61
BKB FINANCE               6.850     6/14/2012     CHF     65.52
BKB FINANCE               8.300      6/7/2012     CHF     75.36
BKB FINANCE               7.750      6/7/2012     CHF     36.97
BKB FINANCE               7.750     5/31/2012     CHF     64.56
BKB FINANCE               7.150     5/10/2012     CHF     67.00
BKB FINANCE               6.400     5/10/2012     CHF     62.58
BKB FINANCE               8.050      5/3/2012     CHF     64.57
BKB FINANCE               7.800      5/3/2012     CHF     59.03
BKB FINANCE               9.850     4/26/2012     CHF     54.52
BKB FINANCE               5.500     4/26/2012     CHF     74.49
BKB FINANCE              11.400     11/8/2012     CHF     73.47
BKB FINANCE               8.900     9/27/2012     CHF     58.53
BKB FINANCE               6.300     7/12/2012     CHF     66.58
BKB FINANCE               8.350     1/14/2013     CHF     61.37
EFG FINANCIAL PR         12.600    12/21/2012     CHF     73.98
EFG FINANCIAL PR         13.110     6/18/2012     USD     52.07
EFG FINANCIAL PR         12.250     6/15/2012     EUR      7.58
EFG FINANCIAL PR         11.500     6/15/2012     EUR     74.20
EFG FINANCIAL PR          5.200     6/14/2012     CHF     63.21
EFG FINANCIAL PR         12.250      6/8/2012     EUR     54.91
EFG FINANCIAL PR         10.000      6/8/2012     CHF     33.73
EFG FINANCIAL PR         12.750      6/6/2012     CHF     66.12
EFG FINANCIAL PR         12.750      6/6/2012     EUR     63.59
EFG FINANCIAL PR          8.000      6/6/2012     CHF     72.09
EFG FINANCIAL PR         12.500     5/30/2012     EUR     57.37
EFG FINANCIAL PR         10.000     5/30/2012     CHF     60.09
EFG FINANCIAL PR         10.000     5/30/2012     EUR     68.35
EFG FINANCIAL PR          8.400     5/30/2012     EUR     74.08
EFG FINANCIAL PR         10.910     5/29/2012     EUR     44.96
EFG FINANCIAL PR         11.200     5/25/2012     CHF     70.54
EFG FINANCIAL PR         10.570     5/25/2012     EUR     65.83
EFG FINANCIAL PR          7.440     5/25/2012     EUR     58.17
EFG FINANCIAL PR          6.100     5/25/2012     EUR     72.34
EFG FINANCIAL PR          8.000     5/24/2012     USD     42.32
EFG FINANCIAL PR         14.000     5/22/2012     EUR     69.82
EFG FINANCIAL PR         12.750     5/22/2012     EUR     59.35
EFG FINANCIAL PR         11.250     5/22/2012     CHF     57.54
EFG FINANCIAL PR         10.750     5/22/2012     CHF     63.99
EFG FINANCIAL PR         12.960     5/21/2012     EUR     21.69
EFG FINANCIAL PR         10.830     5/18/2012     CHF      0.42
EFG FINANCIAL PR         10.100     5/16/2012     USD     73.51
EFG FINANCIAL PR          9.000     5/16/2012     CHF     71.25
EFG FINANCIAL PR         11.500     5/15/2012     EUR     76.57
EFG FINANCIAL PR          8.950     5/14/2012     CHF     64.10
EFG FINANCIAL PR         11.000     5/11/2012     EUR     21.04
EFG FINANCIAL PR         10.050     5/11/2012     CHF     60.95
EFG FINANCIAL PR         10.000     5/11/2012     CHF     21.19
EFG FINANCIAL PR         10.600      5/9/2012     CHF     25.20
EFG FINANCIAL PR          9.290      5/7/2012     CHF     70.15
EFG FINANCIAL PR          9.000      5/7/2012     USD     44.86
EFG FINANCIAL PR          7.000      5/7/2012     CHF     66.75
EFG FINANCIAL PR         18.600      5/4/2012     CHF     64.77
EFG FINANCIAL PR         14.750      5/4/2012     EUR     34.51
EFG FINANCIAL PR         11.000      5/4/2012     USD     67.53
EFG FINANCIAL PR         10.500      5/4/2012     CHF     75.04
EFG FINANCIAL PR          9.500      5/4/2012     CHF     61.23
EFG FINANCIAL PR          7.500      5/4/2012     CHF     72.25
EFG FINANCIAL PR          6.500      5/3/2012     USD     61.98
EFG FINANCIAL PR         10.800      5/2/2012     CHF     63.20
EFG FINANCIAL PR         11.300     4/27/2012     EUR     55.43
EFG FINANCIAL PR         10.250     4/26/2012     EUR     43.10
EFG FINANCIAL PR          8.650     4/23/2012     USD     55.89
EFG FINANCIAL PR         11.000     4/20/2012     USD     62.25
EFG FINANCIAL PR         10.500     4/20/2012     USD     43.18
EFG FINANCIAL PR         10.000     4/20/2012     USD     43.06
EFG FINANCIAL PR          9.450     4/20/2012     CHF     58.64
EFG FINANCIAL PR         18.110     4/19/2012     EUR     52.51
EFG FINANCIAL PR         16.500     4/19/2012     EUR     52.48
EFG FINANCIAL PR         14.150     4/19/2012     EUR     46.38
EFG FINANCIAL PR         13.050     4/19/2012     USD     46.08
EFG FINANCIAL PR         10.500     4/19/2012     CHF     62.67
EFG FINANCIAL PR         10.000     4/19/2012     CHF     62.43
EFG FINANCIAL PR          9.000     4/19/2012     USD     63.61
EFG FINANCIAL PR          8.160     4/25/2014     EUR     73.14
EFG FINANCIAL PR          8.400     9/30/2013     CHF     67.38
EFG FINANCIAL PR          6.500     8/27/2013     CHF     57.02
EFG FINANCIAL PR         12.000     4/26/2013     CHF     70.21
EFG FINANCIAL PR          7.000     4/19/2013     EUR     58.77
EFG FINANCIAL PR          6.750     3/11/2013     EUR     71.29
EFG FINANCIAL PR         14.000     2/19/2013     CHF     17.78
EFG FINANCIAL PR          5.800     1/23/2013     CHF     58.12
EFG FINANCIAL PR         16.500     1/18/2013     CHF     66.90
EFG FINANCIAL PR         12.500     1/15/2013     CHF     49.63
EFG FINANCIAL PR         10.250     1/15/2013     CHF     26.50
EFG FINANCIAL PR          9.000     1/15/2013     CHF     46.33
EFG FINANCIAL PR          8.830    12/28/2012     USD     63.33
EFG FINANCIAL PR         12.000    12/27/2012     CHF     12.14
EFG FINANCIAL PR         20.500    10/26/2012     EUR     34.33
EFG FINANCIAL PR         10.900    12/21/2012     CHF     72.88
EFG FINANCIAL PR          9.300    12/21/2012     CHF     70.96
EFG FINANCIAL PR         17.500    12/14/2012     EUR     51.56
EFG FINANCIAL PR          8.500    12/14/2012     CHF     65.95
EFG FINANCIAL PR         13.750     12/6/2012     CHF     70.13
EFG FINANCIAL PR         16.000    11/27/2012     EUR     49.42
EFG FINANCIAL PR         14.500    11/27/2012     CHF     48.45
EFG FINANCIAL PR         11.250    11/27/2012     CHF     71.50
EFG FINANCIAL PR          9.250    11/27/2012     CHF     74.36
EFG FINANCIAL PR         14.800    11/20/2012     EUR     55.35
EFG FINANCIAL PR         11.500    11/20/2012     EUR     62.86
EFG FINANCIAL PR          8.000    11/20/2012     CHF     68.40
EFG FINANCIAL PR          7.000    11/20/2012     CHF     73.98
EFG FINANCIAL PR         17.000    11/13/2012     EUR     53.61
EFG FINANCIAL PR         14.500    11/13/2012     EUR     65.01
EFG FINANCIAL PR         14.000    11/13/2012     USD     30.07
EFG FINANCIAL PR         13.000    11/13/2012     CHF     29.54
EFG FINANCIAL PR         12.750    11/13/2012     CHF     27.84
EFG FINANCIAL PR         10.500    11/13/2012     CHF     70.64
EFG FINANCIAL PR         10.500    11/13/2012     CHF     70.85
EFG FINANCIAL PR         11.050     11/8/2012     USD     62.84
EFG FINANCIAL PR          9.330    10/29/2012     USD     59.81
EFG FINANCIAL PR         21.000    10/26/2012     USD     34.50
EFG FINANCIAL PR          9.500      9/4/2012     USD     37.55
EFG FINANCIAL PR         20.000    10/26/2012     CHF     33.79
EFG FINANCIAL PR         17.000    10/26/2012     EUR     48.51
EFG FINANCIAL PR         16.750    10/26/2012     CHF     42.61
EFG FINANCIAL PR         13.250    10/26/2012     CHF     71.45
EFG FINANCIAL PR         11.250    10/26/2012     CHF     68.74
EFG FINANCIAL PR          6.250    10/25/2012     CHF     61.64
EFG FINANCIAL PR         12.000    10/19/2012     USD     50.35
EFG FINANCIAL PR         17.250    10/12/2012     CHF     68.84
EFG FINANCIAL PR         20.000    10/11/2012     CHF     22.12
EFG FINANCIAL PR         18.000    10/11/2012     EUR     54.73
EFG FINANCIAL PR         12.500    10/11/2012     CHF     63.26
EFG FINANCIAL PR         10.620     10/3/2012     USD     34.41
EFG FINANCIAL PR          9.930     10/3/2012     EUR     34.61
EFG FINANCIAL PR         10.000     10/1/2012     CHF     63.74
EFG FINANCIAL PR         12.000     9/25/2012     EUR     72.76
EFG FINANCIAL PR         11.250     9/25/2012     CHF     62.87
EFG FINANCIAL PR         10.750     9/25/2012     CHF     64.41
EFG FINANCIAL PR         10.000     9/21/2012     USD     69.92
EFG FINANCIAL PR          9.000     9/10/2012     CHF     58.54
EFG FINANCIAL PR          8.500      9/7/2012     USD     43.41
EFG FINANCIAL PR          7.000      9/7/2012     CHF     54.69
EFG FINANCIAL PR          7.000      9/7/2012     EUR     57.08
EFG FINANCIAL PR          9.600      9/4/2012     USD     61.39
EFG FINANCIAL PR          9.000      8/3/2012     CHF     60.26
EFG FINANCIAL PR         12.000      9/3/2012     EUR     73.95
EFG FINANCIAL PR         10.500      9/3/2012     CHF     57.52
EFG FINANCIAL PR         22.000     8/24/2012     USD     22.65
EFG FINANCIAL PR         14.000     8/24/2012     CHF     34.72
EFG FINANCIAL PR         12.250     8/24/2012     EUR     74.25
EFG FINANCIAL PR         11.750     8/24/2012     CHF     65.55
EFG FINANCIAL PR         11.500     8/24/2012     CHF     56.49
EFG FINANCIAL PR         11.800     8/17/2012     CHF     59.54
EFG FINANCIAL PR         11.600     8/17/2012     EUR     59.45
EFG FINANCIAL PR         12.000     8/16/2012     EUR     31.97
EFG FINANCIAL PR         15.000     8/14/2012     EUR     70.06
EFG FINANCIAL PR         13.750     8/14/2012     EUR     71.56
EFG FINANCIAL PR         12.750     8/14/2012     CHF     58.13
EFG FINANCIAL PR         11.000     8/14/2012     CHF     55.68
EFG FINANCIAL PR          8.500     8/14/2012     CHF     68.62
EFG FINANCIAL PR          3.850     8/13/2012     EUR     58.36
EFG FINANCIAL PR         12.800     8/10/2012     CHF     56.09
EFG FINANCIAL PR         11.700     8/10/2012     USD     40.57
EFG FINANCIAL PR         19.000      8/8/2012     USD     48.47
EFG FINANCIAL PR         11.000      8/7/2012     CHF     38.74
EFG FINANCIAL PR         10.250      8/7/2012     CHF     70.41
EFG FINANCIAL PR         10.000      8/7/2012     CHF     57.88
EFG FINANCIAL PR          9.000      8/3/2012     CHF      9.66
EFG FINANCIAL PR          7.000     6/21/2012     CHF     60.54
EFG FINANCIAL PR          9.000      8/3/2012     CHF     53.23
EFG FINANCIAL PR         11.750     7/31/2012     CHF     58.23
EFG FINANCIAL PR         11.750     7/31/2012     CHF     57.86
EFG FINANCIAL PR         11.500     7/31/2012     EUR     51.02
EFG FINANCIAL PR         10.000     7/31/2012     CHF     57.38
EFG FINANCIAL PR         11.750     7/25/2012     EUR     74.61
EFG FINANCIAL PR         11.000     7/25/2012     CHF     19.59
EFG FINANCIAL PR         10.250     7/25/2012     CHF     42.24
EFG FINANCIAL PR          9.770     7/23/2012     EUR     71.86
EFG FINANCIAL PR          6.000     7/13/2012     EUR     74.40
EFG FINANCIAL PR         12.750     7/12/2012     EUR     76.13
EFG FINANCIAL PR          9.300      7/6/2012     CHF     73.33
EFG FINANCIAL PR         10.500      7/5/2012     CHF     42.01
EFG FINANCIAL PR          8.250      7/5/2012     CHF     70.04
EFG FINANCIAL PR          8.250      7/4/2012     EUR     63.83
EFG FINANCIAL PR          6.600      7/4/2012     CHF     63.57
EFG FINANCIAL PR         13.200     6/28/2012     EUR     69.59
EFG FINANCIAL PR         12.000     6/28/2012     USD     73.21
EFG FINANCIAL PR         11.300     6/28/2012     EUR     58.14
EFG FINANCIAL PR         10.100     6/28/2012     EUR     75.05
EFG FINANCIAL PR         16.500     6/27/2012     GBP     71.31
EFG FINANCIAL PR          6.750     6/27/2012     EUR     75.38
EFG FINANCIAL PR         10.000     6/22/2012     CHF     40.61
EFG FINANCIAL PR          9.650     6/20/2012     USD     46.41
MARE BALTIC PCC           3.000    11/17/2014     DKK      1.00
MARE BALTIC PCC           2.000     11/1/2015     DKK      0.01
MARE BALTIC PCC           3.000    11/17/2014     DKK     20.40
MARE BALTIC PCC           2.000     11/1/2015     DKK      0.01
SARASIN CI LTD            6.000      6/9/2014     EUR     64.15
SARASIN CI LTD           10.250     5/25/2012     EUR     75.61
ZURCHER KANT FIN          8.000     6/15/2012     CHF     65.50
ZURCHER KANT FIN          9.700     6/15/2012     EUR     73.18
ZURCHER KANT FIN         13.575     6/15/2012     CHF     73.40
ZURCHER KANT FIN          9.000     6/18/2012     CHF     59.69
ZURCHER KANT FIN          9.250     11/9/2012     CHF     64.44
ZURCHER KANT FIN          7.340     4/16/2013     CHF     56.01
ZURCHER KANT FIN         10.250     7/19/2012     CHF     71.38
ZURCHER KANT FIN          8.548      7/6/2012     EUR     71.61
ZURCHER KANT FIN         11.000     4/20/2012     CHF     52.43
ZURCHER KANT FIN         11.783     4/27/2012     CHF     72.49
ZURCHER KANT FIN         11.000     7/13/2012     CHF     70.56
ZURCHER KANT FIN          7.844     5/18/2012     CHF     63.27
ZURCHER KANT FIN         11.765     5/11/2012     CHF     73.68
ZURCHER KANT FIN         13.000     4/19/2012     CHF     73.73

HUNGARY
-------
FHB MORTGAGE BAN          4.500     3/22/2022     EUR     61.00
REP OF HUNGARY            2.110    10/26/2017     JPY     70.35

IRELAND
-------
AIB MORTGAGE BNK          5.580     4/28/2028     EUR     66.36
AIB MORTGAGE BNK          5.000      3/1/2030     EUR     60.02
AIB MORTGAGE BNK          5.000     2/12/2030     EUR     60.04
BANK OF IRELAND           5.600     9/18/2023     EUR     56.13
BK IRELAND MTGE           5.760      9/7/2029     EUR     67.56
BK IRELAND MTGE           5.360    10/12/2029     EUR     64.12
BK IRELAND MTGE           5.400     11/6/2029     EUR     64.40
BK IRELAND MTGE           5.450      3/1/2030     EUR     64.58
DEPFA ACS BANK            5.125     3/16/2037     USD     69.50
DEPFA ACS BANK            4.900     8/24/2035     CAD     70.22
DEPFA ACS BANK            0.500      3/3/2025     CAD     41.72
DEPFA ACS BANK            3.278     7/17/2026     CHF     73.56
DEPFA ACS BANK            3.250     7/31/2031     CHF     63.84
DEPFA ACS BANK            5.125     3/16/2037     USD     70.18
FIRST ACTIVE PLC          6.375      4/4/2018     GBP     74.20
KALVEBOD PLC              2.000      5/1/2106     DKK     34.00
BANCA POP VICENT          4.970     4/20/2027     EUR     71.28
BTPS I/L                  2.350     9/15/2035     EUR     70.37
BTPS I/L                  2.550     9/15/2041     EUR     70.18
ICCREA BANCAIMPR          5.220     4/11/2017     EUR     59.63
REGION OF LOMBAR          5.804    10/25/2032     USD     78.78

ITALY
-----
REP OF ITALY              2.000     9/15/2062     EUR     51.94
REP OF ITALY              4.850     6/11/2060     EUR     68.47
REP OF ITALY              2.200     9/15/2058     EUR     57.06
REP OF ITALY              1.850     9/15/2057     EUR     50.47
REP OF ITALY              2.870     5/19/2036     JPY     48.03
REP OF ITALY              5.250     12/7/2034     GBP     73.87
SANPAOLO IMI              5.625     3/18/2024     GBP     76.87
SEAT PAGINE              10.500     1/31/2017     EUR     66.01
SEAT PAGINE              10.500     1/31/2017     EUR     66.50
SEAT PAGINE              10.500     1/31/2017     EUR     67.02
SEAT PAGINE              10.500     1/31/2017     EUR     66.13
TELECOM ITALIA            5.250     3/17/2055     EUR     69.53
UBI BANCA SPCA            6.250    11/18/2018     EUR     50.85
UNIPOL ASSICURAZ          5.660     7/28/2023     EUR     66.02

LUXEMBOURG
----------
ARCELORMITTAL             7.250      4/1/2014     EUR     22.40
CONTROLINVESTE            3.000     1/28/2015     EUR     74.11
ESFG INTERNATION          6.875    10/21/2019     EUR     67.28
ESPIRITO SANTO F          9.750    12/19/2025     EUR     65.26
FORTIS LUX FINAN          6.500    10/22/2012     EUR     73.75
HELLAS III                8.500    10/15/2013     EUR      0.25
HELLAS III                8.500    10/15/2013     EUR      0.25
INTRALOT LUX SA           2.250    12/20/2013     EUR     74.19
IT HOLDING FIN            9.875    11/15/2012     EUR      1.00
IT HOLDING FIN            9.875    11/15/2012     EUR      1.00
LIGHTHOUSE INTL           8.000     4/30/2014     EUR     12.88
LIGHTHOUSE INTL           8.000     4/30/2014     EUR     12.88
VIVALDIS                  0.500     6/13/2013     EUR     60.19
VIVALDIS                  0.500      8/8/2028     EUR     64.43
VIVALDIS                  0.500     6/13/2028     EUR     60.14

KAZAKHSTAN
----------
APP INTL FINANCE         11.750     10/1/2005     USD      8.75
ASTANA FINANCE            9.000    11/16/2011     USD      3.00
ASTANA FINANCE           14.500      7/2/2013     USD      3.00
BK NED GEMEENTEN          0.500     5/10/2017     TRY     73.48
BK NED GEMEENTEN          0.500     5/22/2017     ZAR     74.10
BK NED GEMEENTEN          0.500      3/3/2021     NZD     70.02
BK NED GEMEENTEN          0.500     3/29/2021     NZD     69.78
BK NED GEMEENTEN          0.500     9/15/2016     TRY     73.68
BK NED GEMEENTEN          0.500     6/22/2016     TRY     74.61
BK NED GEMEENTEN          0.500     6/22/2021     ZAR     49.40
BK NED GEMEENTEN          0.500     2/24/2025     CAD     63.31
BK NED GEMEENTEN          0.500     5/12/2021     ZAR     49.89
BLT FINANCE BV            7.500     5/15/2014     USD     29.13
BLT FINANCE BV           12.000     2/10/2015     USD     24.88
BLT FINANCE BV            7.500     5/15/2014     USD     23.88
BRIT INSURANCE            6.625     12/9/2030     GBP     60.35
BULGARIA STEEL           12.000      5/4/2013     EUR      5.88
BULGARIA STEEL           12.000      5/4/2013     EUR      5.88
FINANCE & CREDIT         10.500     1/25/2014     USD     53.17
GREENWICH AVENUE         10.000     6/30/2013     USD      1.25
INDAH KIAT INTL          12.500     6/15/2006     USD      0.01
INDAH KIAT INTL          11.875     6/15/2002     USD      0.01
ING BANK NV               4.200    12/19/2035     EUR     71.60
KBC IFIMA NV              7.500     4/30/2012     EUR     54.34
LEHMAN BROS TSY           6.000     11/2/2035     EUR      7.50
LEHMAN BROS TSY           8.250     3/16/2035     EUR      5.00
LEHMAN BROS TSY           7.000     5/17/2035     EUR      7.00
LEHMAN BROS TSY           7.250     10/5/2035     EUR      7.10
LEHMAN BROS TSY           6.000     2/15/2035     EUR      5.00
NATL INVESTER BK         25.983      5/7/2029     EUR     29.02
NED WATERSCHAPBK          0.500     3/11/2025     CAD     62.17
NIB CAPITAL BANK          4.510    12/16/2035     EUR     72.71
PORTUGAL TEL FIN          4.500     6/16/2025     EUR     68.14
Q-CELLS INTERNAT          5.750     5/26/2014     EUR     13.43
RABOBANK                  0.500    10/27/2016     ZAR     73.34
RABOBANK                  0.500    11/26/2021     ZAR     44.60
RBS NV EX-ABN NV          2.910     6/21/2036     JPY     65.33
SNS BANK                  5.215     12/3/2027     EUR     73.06
SNS BANK                  4.580     3/20/2026     EUR     69.94
TJIWI KIMIA FIN          13.250      8/1/2001     USD      0.01

NORWAY
------
KOMMUNALBANKEN            0.500     5/25/2018     ZAR     62.22
KOMMUNALBANKEN            0.500     7/29/2016     ZAR     73.49
KOMMUNALBANKEN            0.500     7/26/2016     ZAR     73.54
KOMMUNALBANKEN            0.500     5/25/2016     ZAR     74.61
NORSKE SKOGIND            6.125    10/15/2015     USD     70.75
NORSKE SKOGIND            7.125    10/15/2033     USD     52.88
NORSKE SKOGIND            7.125    10/15/2033     USD     52.88
NORSKE SKOGIND            7.000     6/26/2017     EUR     61.51
NORSKE SKOGIND            6.125    10/15/2015     USD     70.75
NORSKE SKOGIND           11.750     6/15/2016     EUR     75.06
RENEWABLE CORP            6.500      6/4/2014     EUR     61.56
RENEWABLE CORP            9.750      5/3/2018     NOK     70.49

POLAND
------
POLAND GOVT BOND          5.000     4/25/2037     PLN     73.00
POLAND-REGD-RSTA          2.810    11/16/2037     JPY     73.80
REP OF POLAND             2.648     3/29/2034     JPY     72.78
CAIXA GERAL DEPO          4.400     10/8/2019     EUR     75.13
CAIXA GERAL DEPO          4.250     1/27/2020     EUR     74.84
CAIXA GERAL DEPO          5.380     10/1/2038     EUR     61.04
COMBOIOS DE PORT          4.170    10/16/2019     EUR     48.28
METRO DE LISBOA           7.300    12/23/2025     EUR     53.00
METRO DE LISBOA           4.799     12/7/2027     EUR     47.00
METRO DE LISBOA           4.061     12/4/2026     EUR     45.63
METRO DE LISBOA           5.750      2/4/2019     EUR     55.63
MONTEPIO GERAL            5.000      2/8/2017     EUR     61.38
PARPUBLICA                4.191    10/15/2014     EUR     76.88
PARPUBLICA                5.250     9/28/2017     EUR     74.32
PARPUBLICA                4.200    11/16/2026     EUR     50.38
PARPUBLICA                3.567     9/22/2020     EUR     51.99
PORTUGAL (REP)            3.500     3/25/2015     USD     74.53
PORTUGAL (REP)            3.500     3/25/2015     USD     74.53
PORTUGUESE OT'S           4.450     6/15/2018     EUR     62.94
PORTUGUESE OT'S           3.350    10/15/2015     EUR     73.83
PORTUGUESE OT'S           4.200    10/15/2016     EUR     71.11
PORTUGUESE OT'S           4.350    10/16/2017     EUR     66.54
PORTUGUESE OT'S           4.750     6/14/2019     EUR     60.53
PORTUGUESE OT'S           4.800     6/15/2020     EUR     59.25
PORTUGUESE OT'S           3.850     4/15/2021     EUR     57.66
PORTUGUESE OT'S           4.950    10/25/2023     EUR     57.35
PORTUGUESE OT'S           4.100     4/15/2037     EUR     46.61
REFER                     4.250    12/13/2021     EUR     44.48
REFER                     4.047    11/16/2026     EUR     47.13
REFER                     4.675    10/16/2024     EUR     46.99
REFER                     4.000     3/16/2015     EUR     57.99
REFER                     5.875     2/18/2019     EUR     55.75

RUSSIA
------
ARIZK                     3.000    12/20/2030     RUB     47.27
DVTG-FINANS              17.000     8/29/2013     RUB     55.55
DVTG-FINANS               7.750     7/18/2013     RUB     20.29
MIRAX                    17.000     9/17/2012     RUB     30.01
MOSMART FINANS            0.010     4/12/2012     RUB      7.00
NOK                      12.500     8/26/2014     RUB      5.00
PROMPEREOSNASTKA          1.000    12/17/2012     RUB     90.00
PROTON-FINANCE            9.000     6/12/2012     RUB     65.00
RBC OJSC                  3.270     4/19/2018     RUB     49.00
SATURN                    8.000      6/6/2014     RUB      1.00
SERBIA T-BONDS            5.850     2/16/2026     EUR     72.88

SPAIN
-----
AYT CEDULAS CAJA          3.750    12/14/2022     EUR     68.15
AYT CEDULAS CAJA          3.750     6/30/2025     EUR     61.01
AYT CEDULAS CAJA          4.750     5/25/2027     EUR     66.37
AYT CEDULAS CAJA          4.250    10/25/2023     EUR     69.67
AYUNTAM DE MADRD          4.350     6/16/2021     EUR     72.96
AYUNTAM DE MADRD          4.550     6/16/2036     EUR     52.85
BANCAJA                   1.500     5/22/2018     EUR     67.63
BANCO BILBAO VIZ          6.025      3/3/2033     EUR     63.85
BANCO BILBAO VIZ          4.500     2/16/2022     EUR     74.77
BANCO CASTILLA            1.500     6/23/2021     EUR     63.69
BASQUE GOV'T              4.600      1/7/2025     EUR     72.91
BBVA SUB CAP UNI          2.750    10/22/2035     JPY     62.08
CAIXA TERRASSA            4.700      8/9/2021     EUR     69.94
CAIXA TERRASSA            1.700     3/12/2022     EUR     65.45
CAJA MADRID               5.116     7/15/2015     EUR     73.90
CAJA MADRID               4.125     3/24/2036     EUR     67.86
CEDULAS TDA 6 FO          3.875     5/23/2025     EUR     61.14
CEDULAS TDA 6 FO          4.250     4/10/2031     EUR     57.76
CEDULAS TDA A-5           4.250     3/28/2027     EUR     60.95
COMUN AUTO CANAR          4.200    10/25/2036     EUR     50.79
COMUN AUTO CANAR          3.900    11/30/2035     EUR     48.82
COMUN AUTO CANAR          5.750    10/15/2029     EUR     73.71
COMUNIDAD ARAGON          4.646     7/11/2036     EUR     59.77
COMUNIDAD ARAGON          4.470     7/12/2021     EUR     73.36
COMUNIDAD ARAGON          4.815    10/10/2022     EUR     72.43
COMUNIDAD BALEAR          4.063    11/23/2035     EUR     47.47
COMUNIDAD BALEAR          3.869    11/23/2020     EUR     66.04
COMUNIDAD BALEAR          4.796      3/4/2020     EUR     74.35
COMUNIDAD MADRID          4.300     9/15/2026     EUR     66.49
DIPUTACION FOR            4.323    12/29/2023     EUR     66.17
GEN DE CATALUNYA          4.690    10/28/2034     EUR     54.38
GEN DE CATALUNYA          4.220     4/26/2035     EUR     49.01
GEN DE CATALUNYA          2.965      9/8/2039     JPY     48.43
GEN DE CATALUNYA          5.950     10/1/2030     EUR     67.61
GEN DE CATALUNYA          5.900     5/28/2030     EUR     68.11
GEN DE CATALUNYA          5.219     9/10/2029     EUR     62.33
GEN DE CATALUNYA          5.325     10/5/2028     EUR     63.91
GEN DE CATALUNYA          5.900     5/20/2024     EUR     70.44
GEN DE CATALUNYA          5.250     10/5/2023     EUR     65.75
GEN DE CATALUNYA          6.350    11/30/2041     EUR     66.12
GEN DE CATALUNYA          4.900     9/15/2021     EUR     67.94
GEN DE CATALUNYA          4.801     7/31/2020     EUR     70.53
GEN DE CATALUNYA          4.950     2/11/2020     EUR     74.07
GEN DE CATALUNYA          5.400     5/13/2030     EUR     63.57
GENERAL VALENCIA          4.900     3/17/2020     EUR     65.00
GENERAL VALENCIA          4.000     11/2/2016     EUR     74.52
GENERAL VALENCIA          5.900    11/30/2032     EUR     58.88
IM CEDULAS 5              3.500     6/15/2020     EUR     73.22
INSTIT CRDT OFCL          2.570    10/22/2021     CHF     70.24
INSTIT CRDT OFCL          3.250     6/28/2024     CHF     69.61
INSTITUT CATALA           4.250     6/15/2024     EUR     64.00
JUNTA ANDALUCIA           3.170     7/29/2039     JPY     53.52
JUNTA ANDALUCIA           3.065     7/29/2039     JPY     52.18
JUNTA ANDALUCIA           4.250    10/31/2036     EUR     48.79
JUNTA ANDALUCIA           4.125     1/20/2020     EUR     71.30
JUNTA ANDALUCIA           5.150     5/24/2034     EUR     59.40
JUNTA ANDALUCIA           6.600    11/29/2030     EUR     73.85
JUNTA ANDALUCIA           4.850     3/17/2020     EUR     72.43
JUNTA ANDALUCIA           5.700     7/20/2028     EUR     68.61
JUNTA ANDALUCIA           5.000     7/13/2022     EUR     69.13
JUNTA CASTILLA            4.650     11/8/2022     EUR     68.83
JUNTA LA MANCHA           2.810    10/14/2022     JPY     69.38
JUNTA LA MANCHA           5.950      9/9/2030     EUR     60.27
JUNTA LA MANCHA           4.625    11/30/2022     EUR     62.50
JUNTA LA MANCHA           3.875     1/31/2036     EUR     37.00
JUNTA LA MANCHA           7.705     2/15/2033     EUR     72.88
MAPFRE SA                 5.921     7/24/2037     EUR     65.75
SACYR VALLEHERM           6.500      5/1/2016     EUR     62.25
SANTANDER ISSUAN          5.750     1/31/2018     GBP     75.92
SPANISH GOV'T             4.200     1/31/2037     EUR     72.54
XUNTA DE GALICIA          5.350    11/22/2028     EUR     65.09
XUNTA DE GALICIA          4.025    11/28/2035     EUR     47.49

SWEDEN
------
SWEDISH EXP CRED          0.500     1/25/2028     USD     57.98
SWEDISH EXP CRED          0.500    12/17/2027     USD     58.38
SWEDISH EXP CRED          0.500     3/15/2022     ZAR     46.29
SWEDISH EXP CRED          0.500     2/22/2022     ZAR     46.49
SWEDISH EXP CRED          0.500     1/31/2022     ZAR     47.15
SWEDISH EXP CRED          0.500     8/26/2021     AUD     65.00
SWEDISH EXP CRED          0.500     8/25/2021     ZAR     48.30
SWEDISH EXP CRED          0.500     9/30/2016     ZAR     72.65
SWEDISH EXP CRED          0.500     9/20/2016     ZAR     72.76
SWEDISH EXP CRED          0.500     8/26/2016     ZAR     73.22
SWEDISH EXP CRED          0.500     8/25/2016     ZAR     73.18
SWEDISH EXP CRED          0.500     6/14/2016     ZAR     74.36
SWEDISH EXP CRED          0.500    11/27/2015     TRY     74.54
SWEDISH EXP CRED          7.500     6/12/2012     USD      7.03
SWEDISH EXP CRED          9.250     4/27/2012     USD      8.09
SWEDISH EXP CRED          0.500     6/29/2016     TRY     70.99

SWITZERLAND
-----------
BANK JULIUS BAER         10.000     4/27/2012     CHF     71.80
BANK JULIUS BAER         14.000     4/27/2012     EUR     72.85
BANK JULIUS BAER         11.500      5/7/2012     CHF     73.05
BANK JULIUS BAER          7.100      5/9/2012     CHF     75.80
BANK JULIUS BAER         10.500      5/9/2012     EUR     55.00
BANK JULIUS BAER         10.500      5/9/2012     EUR     59.70
BANK JULIUS BAER          7.100     5/10/2012     CHF     64.60
BANK JULIUS BAER          6.200     5/11/2012     USD     59.90
BANK JULIUS BAER          8.300     5/11/2012     CHF     62.05
BANK JULIUS BAER         10.000     5/11/2012     CHF     62.80
BANK JULIUS BAER         13.500     5/11/2012     EUR     72.40
BANK JULIUS BAER          8.200     5/18/2012     EUR     64.95
BANK JULIUS BAER          8.400     5/23/2012     CHF     62.05
BANK JULIUS BAER          9.200     5/25/2012     EUR     55.30
BANK JULIUS BAER          9.000     5/30/2012     CHF     56.75
BANK JULIUS BAER         10.000      6/1/2012     CHF     62.90
BANK JULIUS BAER         11.200      6/1/2012     CHF     69.60
BANK JULIUS BAER         13.000      6/1/2012     USD     59.15
BANK JULIUS BAER          7.400     6/14/2012     CAD     58.40
BANK JULIUS BAER         14.000     6/28/2012     EUR     64.00
BANK JULIUS BAER         11.900     6/29/2012     EUR     63.25
BANK JULIUS BAER          9.000      7/6/2012     EUR     72.55
BANK JULIUS BAER         10.500     4/26/2012     CHF     62.00
BANK JULIUS BAER          8.200     4/26/2012     EUR     67.80
BANK JULIUS BAER         15.600     4/20/2012     EUR     37.85
BANK JULIUS BAER         12.300     4/20/2012     CHF     58.60
BANK JULIUS BAER         12.100     4/20/2012     EUR     65.30
BANK JULIUS BAER         10.100      7/6/2012     CHF     38.65
BANK JULIUS BAER         11.300      7/6/2012     CHF     39.30
BANK JULIUS BAER         11.900      7/6/2012     CHF     60.00
BANK JULIUS BAER         12.000      7/6/2012     EUR     66.60
BANK JULIUS BAER         12.400      7/6/2012     CHF     50.50
BANK JULIUS BAER         14.800      7/6/2012     EUR     61.25
BANK JULIUS BAER         14.300     7/13/2012     CHF     55.75
BANK JULIUS BAER         10.500     7/18/2012     CHF     67.60
BANK JULIUS BAER         11.700     7/20/2012     EUR     74.75
BANK JULIUS BAER          9.300     7/27/2012     EUR     66.55
BANK JULIUS BAER         22.800      8/3/2012     USD     73.42
BANK JULIUS BAER          9.000     9/17/2012     CHF     52.50
BANK JULIUS BAER         12.000      4/9/2013     CHF     63.25
BANK JULIUS BAER          8.700      8/5/2013     CHF     65.32
BANK JULIUS BAER         11.700     4/20/2012     EUR     56.70
CLARIDEN LEU NAS         13.000      8/2/2012     EUR     75.83
CLARIDEN LEU NAS          9.000     4/19/2012     CHF     62.49
CLARIDEN LEU NAS          9.250     4/19/2012     EUR     66.43
CLARIDEN LEU NAS         11.000     4/19/2012     USD     61.88
CLARIDEN LEU NAS          8.250     4/20/2012     EUR     73.98
CLARIDEN LEU NAS         10.500     4/20/2012     EUR     67.92
CLARIDEN LEU NAS         10.000     4/26/2012     EUR     75.11
CLARIDEN LEU NAS         10.000     4/26/2012     CHF     73.41
CLARIDEN LEU NAS         10.000     4/26/2012     CHF     66.02
CLARIDEN LEU NAS         10.000     4/27/2012     CHF     74.95
CLARIDEN LEU NAS          3.250     9/16/2013     CHF     68.48
CLARIDEN LEU NAS          0.000     6/24/2013     EUR     87.48
CLARIDEN LEU NAS          0.000     5/31/2013     CHF     64.86
CLARIDEN LEU NAS          0.000     3/25/2013     CHF     65.61
CLARIDEN LEU NAS          8.250    12/17/2012     CHF     67.03
CLARIDEN LEU NAS          0.000    12/17/2012     EUR     70.27
CLARIDEN LEU NAS          0.000    12/14/2012     CHF     40.40
CLARIDEN LEU NAS         10.500    11/26/2012     EUR     69.64
CLARIDEN LEU NAS          7.125    11/19/2012     CHF     64.59
CLARIDEN LEU NAS          7.250    11/16/2012     CHF     65.05
CLARIDEN LEU NAS          7.500    11/13/2012     CHF     64.75
CLARIDEN LEU NAS         10.000    10/15/2012     CHF     60.60
CLARIDEN LEU NAS          9.500    10/15/2012     CHF     61.20
CLARIDEN LEU NAS          8.500    10/15/2012     CHF     59.72
CLARIDEN LEU NAS         10.000     10/8/2012     EUR     57.83
CLARIDEN LEU NAS          7.000     10/4/2012     CHF     61.29
CLARIDEN LEU NAS          9.000     9/24/2012     CHF     65.88
CLARIDEN LEU NAS         10.250     9/17/2012     CHF     60.93
CLARIDEN LEU NAS         10.000     9/11/2012     CHF     59.59
CLARIDEN LEU NAS         11.000     9/10/2012     EUR     70.22
CLARIDEN LEU NAS          7.500     9/10/2012     CHF     64.27
CLARIDEN LEU NAS         12.000      9/4/2012     EUR     44.49
CLARIDEN LEU NAS          9.250      9/4/2012     CHF     56.43
CLARIDEN LEU NAS          7.000     8/16/2012     CHF     58.26
CLARIDEN LEU NAS         10.000     8/10/2012     EUR     71.85
CLARIDEN LEU NAS         11.750      8/8/2012     EUR     68.36
CLARIDEN LEU NAS         10.000      8/8/2012     USD     78.71
CLARIDEN LEU NAS         11.250     4/26/2012     USD     62.80
CLARIDEN LEU NAS          8.500     4/27/2012     USD     62.87
CLARIDEN LEU NAS          9.000     4/27/2012     USD     70.33
CLARIDEN LEU NAS          9.000     4/27/2012     USD     14.71
CLARIDEN LEU NAS         10.600     5/18/2012     CHF     62.46
CLARIDEN LEU NAS         10.250     4/27/2012     CHF     74.85
CLARIDEN LEU NAS         12.400     4/27/2012     EUR     73.16
CLARIDEN LEU NAS         13.000     4/27/2012     CHF     15.10
CLARIDEN LEU NAS          9.500      5/2/2012     EUR     62.74
CLARIDEN LEU NAS         10.500      5/2/2012     EUR     57.54
CLARIDEN LEU NAS         11.000      5/2/2012     EUR     73.00
CLARIDEN LEU NAS         11.000      5/2/2012     CHF     61.38
CLARIDEN LEU NAS          8.250      5/3/2012     GBP     74.83
CLARIDEN LEU NAS          9.500      5/3/2012     CHF     60.33
CLARIDEN LEU NAS         11.250      5/3/2012     GBP     70.63
CLARIDEN LEU NAS         10.250      5/4/2012     CHF     56.66
CLARIDEN LEU NAS          7.300      5/9/2012     CHF     60.00
CLARIDEN LEU NAS          9.000      5/9/2012     EUR     65.11
CLARIDEN LEU NAS          9.600      5/9/2012     CHF     76.43
CLARIDEN LEU NAS         10.750      5/9/2012     EUR     71.35
CLARIDEN LEU NAS         10.750      5/9/2012     CHF     66.09
CLARIDEN LEU NAS         10.750     5/11/2012     CHF     62.95
CLARIDEN LEU NAS         12.000     5/11/2012     EUR     44.95
CLARIDEN LEU NAS         10.000     5/16/2012     EUR     73.37
CLARIDEN LEU NAS         10.000     5/16/2012     EUR     62.14
CLARIDEN LEU NAS         10.550     5/16/2012     EUR     53.41
CLARIDEN LEU NAS         11.750     5/16/2012     EUR     74.11
CLARIDEN LEU NAS         10.000     5/18/2012     EUR     67.37
CLARIDEN LEU NAS         10.250     6/20/2012     SEK     70.05
CLARIDEN LEU NAS         12.000     5/18/2012     EUR     53.78
CLARIDEN LEU NAS         10.000     5/23/2012     NOK     66.45
CLARIDEN LEU NAS         11.500     5/23/2012     USD     72.47
CLARIDEN LEU NAS         13.000     5/23/2012     CHF     16.34
CLARIDEN LEU NAS         14.000     5/23/2012     EUR     16.38
CLARIDEN LEU NAS         12.750     5/24/2012     EUR     52.88
CLARIDEN LEU NAS         10.500     5/30/2012     EUR     70.81
CLARIDEN LEU NAS         10.750     5/30/2012     CHF     64.54
CLARIDEN LEU NAS         12.250     5/31/2012     EUR     42.39
CLARIDEN LEU NAS          7.500      6/1/2012     EUR     70.74
CLARIDEN LEU NAS         13.250      6/1/2012     USD     17.97
CLARIDEN LEU NAS         10.000      6/6/2012     NOK     68.59
CLARIDEN LEU NAS          0.000      6/8/2012     CHF     62.63
CLARIDEN LEU NAS          8.500      6/8/2012     CHF     65.30
CLARIDEN LEU NAS         13.500      6/8/2012     EUR     57.23
CLARIDEN LEU NAS          9.000     6/14/2012     CHF     64.91
CLARIDEN LEU NAS          9.250     6/14/2012     CHF     72.06
CLARIDEN LEU NAS         12.000     6/14/2012     CHF     38.61
CLARIDEN LEU NAS         10.500     6/15/2012     CHF     70.10
CLARIDEN LEU NAS          3.550     6/20/2012     CHF     50.76
CLARIDEN LEU NAS         10.500     7/18/2012     CHF     74.11
CLARIDEN LEU NAS          9.000     6/21/2012     CHF     67.64
CLARIDEN LEU NAS         10.000     6/21/2012     EUR     64.06
CLARIDEN LEU NAS         10.500     6/21/2012     EUR     57.01
CLARIDEN LEU NAS         10.000     6/22/2012     CHF     68.39
CLARIDEN LEU NAS         11.250     6/22/2012     CHF     53.19
CLARIDEN LEU NAS         15.500     6/29/2012     EUR     45.29
CLARIDEN LEU NAS          8.750      7/4/2012     CHF     71.88
CLARIDEN LEU NAS         10.000      7/4/2012     CHF     73.24
CLARIDEN LEU NAS         10.250      7/4/2012     EUR     62.98
CLARIDEN LEU NAS         10.500      7/4/2012     EUR     66.12
CLARIDEN LEU NAS         11.000      7/5/2012     CHF     73.81
CLARIDEN LEU NAS         10.000      7/6/2012     EUR     74.82
CLARIDEN LEU NAS         12.500     7/11/2012     EUR     66.31
CLARIDEN LEU NAS         10.500     7/12/2012     CHF     70.05
CLARIDEN LEU NAS         11.750     7/12/2012     USD     72.50
CLARIDEN LEU NAS          9.500     7/13/2012     EUR     60.36
CLARIDEN LEU NAS         11.750     7/13/2012     EUR     74.34
CLARIDEN LEU NAS          7.900     7/18/2012     USD     73.39
CLARIDEN LEU NAS         11.000     7/18/2012     EUR     72.08
CLARIDEN LEU NAS          9.000     7/19/2012     CHF     72.07
CLARIDEN LEU NAS         10.750     7/19/2012     EUR     71.86
CLARIDEN LEU NAS         12.250     7/20/2012     USD     73.25
CLARIDEN LEU NAS          9.250     7/25/2012     CHF     69.29
CLARIDEN LEU NAS          8.750     7/26/2012     CHF     64.78
CLARIDEN LEU NAS         10.500      8/2/2012     EUR     60.40
CLARIDEN LEU NAS         11.000      8/2/2012     USD     72.57
CLARIDEN LEU NAS          0.000     9/10/2014     CHF     69.99
CLARIDEN LEU NAS          0.000     8/27/2014     CHF     69.50
CLARIDEN LEU NAS          4.500     8/13/2014     CHF     60.62
CLARIDEN LEU NAS          0.000     6/10/2014     CHF     65.52
CLARIDEN LEU NAS          0.000     6/10/2014     CHF     71.98
CLARIDEN LEU NAS          0.000     5/26/2014     CHF     62.88
CLARIDEN LEU NAS          0.000     5/13/2014     CHF     61.80
CLARIDEN LEU NAS          0.000     2/24/2014     CHF     59.63
CLARIDEN LEU NAS          0.000     2/11/2014     CHF     59.15
CLARIDEN LEU NAS          0.000    11/26/2013     CHF     68.42
CLARIDEN LEU NAS          0.000     9/23/2013     CHF     68.83
CREDIT SUISSE LD          8.900     3/25/2013     EUR     61.37
CREDIT SUISSE LD          4.000    12/10/2012     EUR     44.60
SARASIN CI LTD            8.000      9/3/2012     CHF     43.54
SARASIN CI LTD           11.000      5/9/2012     CHF     60.33
SARASIN CI LTD           10.080      5/4/2012     CHF     42.44
SARASIN CI LTD           12.500     5/11/2012     CHF     57.93
SARASIN CI LTD           11.000     4/26/2012     CHF     61.19
SARASIN CI LTD            8.600     5/16/2012     CHF     72.21
SARASIN CI LTD            7.000     5/24/2012     CHF     62.85
SARASIN CI LTD            5.538     6/18/2012     CHF     61.87
SARASIN CI LTD           12.000     6/27/2012     CHF     42.20
SARASIN CI LTD            8.500     4/26/2012     CHF     54.14
SARASIN CI LTD           10.500     4/26/2012     CHF     59.55
SARASIN/GUERNSEY         10.000     8/10/2012     EUR     60.56
SARASIN/GUERNSEY          7.200     7/16/2012     CHF     51.72
SARASIN/GUERNSEY          7.600     7/13/2012     EUR     66.95
SARASIN/GUERNSEY         15.400     7/12/2012     EUR     74.69
SARASIN/GUERNSEY         12.100     7/12/2012     CHF     69.73
SARASIN/GUERNSEY         17.000    10/12/2012     EUR     77.29
UBS AG                   22.970     6/22/2012     EUR     69.71
UBS AG                   22.490     6/22/2012     EUR     71.90
UBS AG                   22.440     6/22/2012     EUR     69.69
UBS AG                   22.360     6/22/2012     EUR     72.13
UBS AG                   22.200     6/22/2012     EUR     66.41
UBS AG                   24.310     6/22/2012     EUR     68.32
UBS AG                   21.370     6/22/2012     EUR     67.31
UBS AG                   21.300     6/22/2012     EUR     69.43
UBS AG                   20.650     6/22/2012     EUR     71.65
UBS AG                   20.120     6/22/2012     EUR     68.31
UBS AG                   20.060     6/22/2012     EUR     74.29
UBS AG                   19.530     6/22/2012     EUR     71.02
UBS AG                   19.440     6/22/2012     EUR     74.52
UBS AG                   21.630     6/22/2012     EUR     71.18
UBS AG                   18.910     6/22/2012     EUR     73.78
UBS AG                   18.080     6/22/2012     EUR     70.38
UBS AG                   17.790     6/22/2012     EUR     72.72
UBS AG                   16.710     6/22/2012     EUR     71.46
UBS AG                   16.110     6/22/2012     EUR     72.63
UBS AG                   16.100     6/22/2012     EUR     74.55
UBS AG                   15.610     6/22/2012     EUR     72.63
UBS AG                   19.000     6/22/2012     EUR     69.29
UBS AG                   15.000      6/6/2012     CHF     72.90
UBS AG                   17.720      6/4/2012     EUR     44.91
UBS AG                   15.860      6/4/2012     EUR     68.36
UBS AG                   13.680      6/4/2012     EUR     72.84
UBS AG                   10.470      6/4/2012     EUR     52.74
UBS AG                    9.820      6/4/2012     EUR     74.22
UBS AG                   14.620      6/1/2012     EUR     74.94
UBS AG                   14.540     6/22/2012     EUR     73.85
UBS AG                   13.700     5/23/2012     USD     13.57
UBS AG                   13.300     5/23/2012     USD      3.80
UBS AG                   15.150     5/11/2012     EUR     39.59
UBS AG                   13.150     5/11/2012     EUR     51.97
UBS AG                   12.900     5/11/2012     EUR     47.68
UBS AG                   11.240     5/11/2012     EUR     44.46
UBS AG                   10.940     5/11/2012     EUR     46.86
UBS AG                   14.000     5/23/2012     USD      8.96
UBS AG                   10.060     5/11/2012     EUR     61.06
UBS AG                    9.880     5/11/2012     EUR     52.12
UBS AG                    9.170     5/11/2012     EUR     63.63
UBS AG                    9.170     5/11/2012     EUR     63.63
UBS AG                    9.110     5/11/2012     EUR     58.86
UBS AG                    6.870     5/11/2012     EUR     52.72
UBS AG                    6.600     5/11/2012     USD     62.95
UBS AG                   10.750     5/11/2012     EUR     73.57
UBS AG                   15.000      5/3/2012     EUR     38.35
UBS AG                    8.500      5/3/2012     CHF     59.60
UBS AG                    7.500      5/3/2012     EUR     71.80
UBS AG                   12.800     4/20/2012     CHF     73.40
UBS AG                   11.930     4/20/2012     CHF     44.00
UBS AG                    8.000     4/20/2012     CHF     59.55
UBS AG                    7.820     4/20/2012     CHF     73.32
UBS AG                    6.550     5/11/2012     EUR     67.69
UBS AG                   10.100     4/19/2012     CHF     69.05
UBS AG                    7.910     4/19/2012     CHF     67.98
UBS AG                    7.810     4/19/2012     CHF     59.50
UBS AG                   11.000      3/4/2014     USD     19.73
UBS AG                   13.830    12/17/2013     USD     20.11
UBS AG                   11.020    10/21/2013     USD     58.10
UBS AG                   15.900     9/20/2013     EUR     72.59
UBS AG                   10.770      9/6/2013     USD     17.40
UBS AG                    9.650     8/23/2013     USD     32.42
UBS AG                   11.250     4/11/2013     USD     26.20
UBS AG                    9.650     4/11/2013     USD     34.27
UBS AG                    9.850     3/22/2013     USD     20.47
UBS AG                    7.990     3/19/2013     USD     20.90
UBS AG                    6.500     3/14/2013     USD     19.04
UBS AG                    5.760     3/14/2013     USD     31.66
UBS AG                    5.540     3/14/2013     USD     30.13
UBS AG                   16.640     3/12/2013     USD     25.80
UBS AG                   11.920     3/12/2013     USD     16.25
UBS AG                    8.670     3/12/2013     USD      2.43
UBS AG                    8.000     3/12/2013     USD     60.78
UBS AG                    6.420     3/12/2013     USD     18.77
UBS AG                    6.400     3/12/2013     USD     18.77
UBS AG                    6.280     3/12/2013     USD     45.80
UBS AG                    4.280     3/12/2013     USD     12.96
UBS AG                    3.900     3/12/2013     USD     12.10
UBS AG                    8.100      3/8/2013     USD     21.33
UBS AG                   13.760      3/6/2013     USD      6.38
UBS AG                   10.080     2/28/2013     USD     16.50
UBS AG                    9.590     2/28/2013     USD     35.76
UBS AG                    9.580     2/28/2013     USD     35.76
UBS AG                   14.850     2/22/2013     EUR     75.13
UBS AG                   10.390     1/18/2013     USD     38.04
UBS AG                   21.700      1/4/2013     EUR     75.98
UBS AG                   18.000    12/21/2012     EUR     73.13
UBS AG                   17.070    12/21/2012     EUR     73.47
UBS AG                   16.930    12/21/2012     EUR     74.24
UBS AG                   16.600    12/21/2012     EUR     69.86
UBS AG                   16.030    12/21/2012     EUR     74.40
UBS AG                   15.930    12/21/2012     EUR     72.78
UBS AG                   14.740    12/21/2012     EUR     74.06
UBS AG                   14.690    12/21/2012     EUR     73.30
UBS AG                   13.320    12/21/2012     EUR     74.67
UBS AG                   13.600    11/12/2012     EUR     46.52
UBS AG                   13.560    11/12/2012     EUR     50.37
UBS AG                   12.000    11/12/2012     EUR     73.08
UBS AG                   11.660    11/12/2012     EUR     53.63
UBS AG                   11.260    11/12/2012     EUR     56.87
UBS AG                   10.930    11/12/2012     EUR     50.05
UBS AG                    9.650    11/12/2012     EUR     57.04
UBS AG                    9.470    11/12/2012     EUR     51.73
UBS AG                    9.020    11/12/2012     EUR     56.20
UBS AG                    8.590    11/12/2012     EUR     62.24
UBS AG                    8.370    11/12/2012     EUR     65.14
UBS AG                    8.280    11/12/2012     EUR     67.08
UBS AG                    8.280    11/12/2012     EUR     67.08
UBS AG                    6.700    11/12/2012     EUR     56.13
UBS AG                    6.070    11/12/2012     EUR     70.26
UBS AG                   12.500     11/1/2012     EUR     74.72
UBS AG                   13.340    10/24/2012     USD     46.27
UBS AG                   11.580     10/1/2012     EUR     64.76
UBS AG                   11.560     10/1/2012     EUR     37.84
UBS AG                   11.530     10/1/2012     EUR     64.74
UBS AG                   11.460     10/1/2012     EUR     64.71
UBS AG                   11.460     10/1/2012     EUR     37.80
UBS AG                   11.380     10/1/2012     EUR     64.68
UBS AG                   11.330     10/1/2012     EUR     37.74
UBS AG                   11.280     10/1/2012     EUR     64.63
UBS AG                   11.160     10/1/2012     EUR     64.58
UBS AG                   11.150     10/1/2012     EUR     37.67
UBS AG                   11.010     10/1/2012     EUR     64.52
UBS AG                   10.930     10/1/2012     EUR     37.57
UBS AG                   10.840     10/1/2012     EUR     64.45
UBS AG                   10.740     10/1/2012     EUR     70.03
UBS AG                   10.650     10/1/2012     EUR     37.45
UBS AG                   10.640     10/1/2012     EUR     64.36
UBS AG                   10.620     10/1/2012     EUR     70.03
UBS AG                   10.440     10/1/2012     EUR     69.90
UBS AG                   10.410     10/1/2012     EUR     64.26
UBS AG                   10.310     10/1/2012     EUR     37.31
UBS AG                   10.220     10/1/2012     EUR     69.81
UBS AG                   10.150     10/1/2012     EUR     64.15
UBS AG                    9.930     10/1/2012     EUR     69.69
UBS AG                    9.910     10/1/2012     EUR     37.14
UBS AG                    9.900     10/1/2012     EUR     35.78
UBS AG                    9.860     10/1/2012     EUR     64.07
UBS AG                    9.580     10/1/2012     EUR     69.54
UBS AG                    9.540     10/1/2012     EUR     63.89
UBS AG                    9.440     10/1/2012     EUR     36.94
UBS AG                    9.360     10/1/2012     EUR     35.50
UBS AG                    9.200     10/1/2012     EUR     35.44
UBS AG                    9.160     10/1/2012     EUR     69.36
UBS AG                    9.060     10/1/2012     EUR     70.78
UBS AG                    8.950     10/1/2012     EUR     76.23
UBS AG                    8.910     10/1/2012     EUR     36.71
UBS AG                    8.910     10/1/2012     EUR     70.68
UBS AG                    8.740     10/1/2012     EUR     76.10
UBS AG                    8.730     10/1/2012     EUR     35.24
UBS AG                    8.720     10/1/2012     EUR     70.60
UBS AG                    8.720     10/1/2012     EUR     72.71
UBS AG                    8.660     10/1/2012     EUR     69.15
UBS AG                    8.530     10/1/2012     EUR     72.62
UBS AG                    8.500     10/1/2012     EUR     70.51
UBS AG                    8.490     10/1/2012     EUR     75.99
UBS AG                    8.420     10/1/2012     EUR     35.14
UBS AG                    8.400     10/1/2012     EUR     72.57
UBS AG                    8.310     10/1/2012     EUR     36.49
UBS AG                    8.260     10/1/2012     EUR     72.51
UBS AG                    8.240     10/1/2012     EUR     70.42
UBS AG                    8.200     10/1/2012     EUR     75.90
UBS AG                    8.090     10/1/2012     EUR     68.90
UBS AG                    8.090     10/1/2012     EUR     72.44
UBS AG                    8.050     10/1/2012     EUR     34.95
UBS AG                    7.940     10/1/2012     EUR     70.30
UBS AG                    7.900     10/1/2012     EUR     72.36
UBS AG                    7.850     10/1/2012     EUR     75.72
UBS AG                    7.840     10/1/2012     EUR     34.86
UBS AG                    7.680     10/1/2012     EUR     72.26
UBS AG                    7.660     10/1/2012     EUR     36.18
UBS AG                    7.620     10/1/2012     EUR     34.76
UBS AG                    7.610     10/1/2012     EUR     70.16
UBS AG                    7.470     10/1/2012     EUR     75.56
UBS AG                    7.450     10/1/2012     EUR     72.16
UBS AG                    7.380     10/1/2012     EUR     34.66
UBS AG                    7.240     10/1/2012     EUR     70.00
UBS AG                    7.140     10/1/2012     EUR     34.56
UBS AG                    7.040     10/1/2012     EUR     75.40
UBS AG                   24.960     9/28/2012     EUR     72.48
UBS AG                   23.560     9/28/2012     EUR     74.14
UBS AG                   22.150     9/28/2012     EUR     75.94
UBS AG                   21.970     9/28/2012     EUR     70.14
UBS AG                   20.920     9/28/2012     EUR     70.70
UBS AG                   19.990     9/28/2012     EUR     72.11
UBS AG                   19.910     9/28/2012     EUR     74.61
UBS AG                   19.880     9/28/2012     EUR     70.96
UBS AG                   19.580     9/28/2012     EUR     72.03
UBS AG                   18.580     9/28/2012     EUR     72.06
UBS AG                   18.240     9/28/2012     EUR     73.47
UBS AG                   18.220     9/28/2012     EUR     70.47
UBS AG                   17.280     9/28/2012     EUR     73.23
UBS AG                   17.090     9/28/2012     EUR     71.14
UBS AG                   16.930     9/28/2012     EUR     75.02
UBS AG                   16.720     9/28/2012     EUR     71.99
UBS AG                   16.000     9/28/2012     EUR     74.50
UBS AG                   15.370     9/28/2012     EUR     72.73
UBS AG                   15.240     9/28/2012     EUR     73.65
UBS AG                   13.700     9/28/2012     EUR     74.51
UBS AG                   22.700     9/21/2012     EUR     68.88
UBS AG                   13.000     9/21/2012     EUR     72.07
UBS AG                   10.740     9/17/2012     USD     33.58
UBS AG                   19.660      9/3/2012     EUR     72.44
UBS AG                    9.070      9/3/2012     EUR     66.11
UBS AG                    9.430     8/31/2012     USD     33.67
UBS AG                   17.250     8/15/2012     EUR     54.85
UBS AG                    9.500     8/10/2012     USD     28.61
UBS AG                   11.500      8/2/2012     CHF     74.20
UBS AG                   11.000      8/2/2012     EUR     66.50
UBS AG                   10.500      8/2/2012     EUR     57.35
UBS AG                   10.000      8/2/2012     CHF     68.95
UBS AG                   12.040     7/31/2012     USD     17.88
UBS AG                   11.760     7/31/2012     USD     28.35
UBS AG                    8.460     7/31/2012     USD     35.27
UBS AG                   12.000     7/25/2012     EUR     65.55
UBS AG                   10.960     7/20/2012     USD     24.73
UBS AG                   10.600     7/20/2012     CHF     74.25
UBS AG                   10.020     7/20/2012     USD     10.92
UBS AG                   14.400     6/29/2012     CHF     47.10
UBS AG                   12.000     6/29/2012     EUR     63.10
UBS AG                   12.750     6/25/2012     EUR     35.04
UBS AG                   12.610     6/25/2012     EUR     35.00
UBS AG                   12.510     6/25/2012     EUR     62.18
UBS AG                   12.450     6/25/2012     EUR     62.17
UBS AG                   12.410     6/25/2012     EUR     34.96
UBS AG                   12.370     6/25/2012     EUR     62.15
UBS AG                   12.270     6/25/2012     EUR     62.14
UBS AG                   12.170     6/25/2012     EUR     34.92
UBS AG                   12.140     6/25/2012     EUR     62.12
UBS AG                   11.990     6/25/2012     EUR     62.09
UBS AG                   11.860     6/25/2012     EUR     34.88
UBS AG                   11.810     6/25/2012     EUR     62.06
UBS AG                   11.600     6/25/2012     EUR     62.05
UBS AG                   11.480     6/25/2012     EUR     34.81
UBS AG                   11.380     6/25/2012     EUR     67.69
UBS AG                   11.360     6/25/2012     EUR     61.99
UBS AG                   11.180     6/25/2012     EUR     67.66
UBS AG                   11.080     6/25/2012     EUR     61.95
UBS AG                   11.030     6/25/2012     EUR     34.76
UBS AG                   10.920     6/25/2012     EUR     67.62
UBS AG                   10.770     6/25/2012     EUR     61.90
UBS AG                   10.590     6/25/2012     EUR     67.56
UBS AG                   10.500     6/25/2012     EUR     34.66
UBS AG                   10.420     6/25/2012     EUR     61.84
UBS AG                   10.190     6/25/2012     EUR     67.50
UBS AG                   10.040     6/25/2012     EUR     61.78
UBS AG                    9.920     6/25/2012     EUR     33.15
UBS AG                    9.900     6/25/2012     EUR     34.56
UBS AG                    9.890     6/25/2012     EUR     68.48
UBS AG                    9.710     6/25/2012     EUR     33.11
UBS AG                    9.700     6/25/2012     EUR     67.42
UBS AG                    9.660     6/25/2012     EUR     68.46
UBS AG                    9.610     6/25/2012     EUR     74.02
UBS AG                    9.430     6/25/2012     EUR     33.07
UBS AG                    9.390     6/25/2012     EUR     68.42
UBS AG                    9.330     6/25/2012     EUR     70.94
UBS AG                    9.310     6/25/2012     EUR     73.95
UBS AG                    9.220     6/25/2012     EUR     34.45
UBS AG                    9.090     6/25/2012     EUR     33.02
UBS AG                    9.080     6/25/2012     EUR     68.37
UBS AG                    9.080     6/25/2012     EUR     70.90
UBS AG                    8.950     6/25/2012     EUR     73.91
UBS AG                    8.910     6/25/2012     EUR     70.88
UBS AG                    8.720     6/25/2012     EUR     70.85
UBS AG                    8.720     6/25/2012     EUR     68.31
UBS AG                    9.130     6/25/2012     EUR     67.33
UBS AG                    8.540     6/25/2012     EUR     73.84
UBS AG                    8.510     6/25/2012     EUR     70.81
UBS AG                    8.490     6/25/2012     EUR     34.34
UBS AG                    8.490     6/25/2012     EUR     67.23
UBS AG                    8.320     6/25/2012     EUR     68.23
UBS AG                    8.270     6/25/2012     EUR     70.77
UBS AG                    8.220     6/25/2012     EUR     32.88
UBS AG                    8.690     6/25/2012     EUR     32.95
UBS AG                    8.000     6/25/2012     EUR     70.73
UBS AG                    7.960     6/25/2012     EUR     32.83
UBS AG                    7.890     6/25/2012     EUR     68.17
UBS AG                    7.870     6/25/2012     EUR     73.60
UBS AG                    7.770     6/25/2012     EUR     67.13
UBS AG                    7.720     6/25/2012     EUR     70.69
UBS AG                    7.710     6/25/2012     EUR     34.23
UBS AG                    8.070     6/25/2012     EUR     73.75
UBS AG                    7.670     6/25/2012     EUR     73.57
UBS AG                    7.560     6/25/2012     EUR     73.67
UBS AG                    7.420     6/25/2012     EUR     68.10
UBS AG                    7.420     6/25/2012     EUR     73.53
UBS AG                    7.410     6/25/2012     EUR     32.78
UBS AG                    7.150     6/25/2012     EUR     73.48
UBS AG                    7.110     6/25/2012     EUR     32.71
UBS AG                    7.690     6/25/2012     EUR     32.79
UBS AG                   28.770     6/22/2012     EUR     69.66
UBS AG                   27.030     6/22/2012     EUR     65.75
UBS AG                   26.850     6/22/2012     EUR     72.00
UBS AG                   26.100     6/22/2012     EUR     66.17
UBS AG                   24.950     6/22/2012     EUR     74.52
UBS AG                   24.900     6/22/2012     EUR     66.55
UBS AG                   24.690     6/22/2012     EUR     70.15
UBS AG                    7.010     6/25/2012     EUR     73.60
UBS AG                   24.260     6/22/2012     EUR     67.86
UBS AG                   23.100     6/22/2012     EUR     67.94
UBS AG                   10.780     4/19/2012     CHF     60.70
UBS AG JERSEY             3.220     7/31/2012     EUR     31.66

UNITED KINGDOM
--------------
ALLIANC&LEIC BLD          5.875     8/14/2031     GBP     73.87
BAKKAVOR FIN 2            8.250     2/15/2018     GBP     77.75
BANK NADRA                8.000     6/22/2017     USD     49.32
BARCLAYS BK PLC           8.750      1/2/2013     EUR     65.97
BARCLAYS BK PLC           0.500     9/24/2019     AUD     62.26
BARCLAYS BK PLC           0.500     12/3/2017     AUD     70.85
BARCLAYS BK PLC          11.500     6/28/2013     EUR     54.81
BARCLAYS BK PLC          11.000     6/28/2013     EUR     56.73
BARCLAYS BK PLC          10.000     6/28/2013     EUR     58.43
BARCLAYS BK PLC           8.000     6/28/2013     EUR     60.31
BARCLAYS BK PLC          11.500     3/22/2013     EUR     52.78
BARCLAYS BK PLC          10.750     3/22/2013     EUR     55.40
BARCLAYS BK PLC          10.000     3/22/2013     EUR     56.56
BARCLAYS BK PLC           8.000     3/22/2013     EUR     58.49
BARCLAYS BK PLC          12.500      1/2/2013     EUR     60.55
BARCLAYS BK PLC          12.000      1/2/2013     EUR     50.93
BARCLAYS BK PLC          11.500      1/2/2013     EUR     64.17
BARCLAYS BK PLC          11.000      1/2/2013     EUR     53.92
BARCLAYS BK PLC          10.000      1/2/2013     EUR     65.05
BARCLAYS BK PLC          10.000      1/2/2013     EUR     55.44
BARCLAYS BK PLC           9.500      1/2/2013     EUR     55.99
BARCLAYS BK PLC           8.000     9/28/2012     USD     10.57
BARCLAYS BK PLC           8.500      1/2/2013     EUR     69.76
BARCLAYS BK PLC           8.000      1/2/2013     EUR     57.33
BARCLAYS BK PLC           7.000      1/2/2013     EUR     70.84
BARCLAYS BK PLC           7.000      1/2/2013     EUR     61.22
BARCLAYS BK PLC           6.000      1/2/2013     EUR     64.20
BARCLAYS BK PLC           6.000      1/2/2013     EUR     74.38
BARCLAYS BK PLC          12.500    12/14/2012     EUR     68.07
BARCLAYS BK PLC          11.000    12/14/2012     EUR     54.05
BARCLAYS BK PLC          10.930    12/14/2012     EUR     69.93
BARCLAYS BK PLC          10.500    12/14/2012     EUR     60.38
BARCLAYS BK PLC           9.500    12/14/2012     EUR     66.11
BARCLAYS BK PLC           8.750    12/14/2012     EUR     58.25
BARCLAYS BK PLC           8.000    12/14/2012     EUR     65.68
BARCLAYS BK PLC           9.000    10/16/2012     USD     10.68
BARCLAYS BK PLC           8.500    10/16/2012     USD     10.86
BARCLAYS BK PLC          14.000     10/1/2012     USD     10.19
BARCLAYS BK PLC           9.000     10/1/2012     USD      9.84
BARCLAYS BK PLC          13.500     9/28/2012     EUR     58.01
BARCLAYS BK PLC          13.000     9/28/2012     EUR     47.98
BARCLAYS BK PLC          12.500     9/28/2012     EUR     61.33
BARCLAYS BK PLC          11.750     9/28/2012     EUR     51.37
BARCLAYS BK PLC          10.500     9/28/2012     EUR     53.15
BARCLAYS BK PLC          10.500     9/28/2012     EUR     63.08
BARCLAYS BK PLC          10.000     9/28/2012     EUR     54.14
BARCLAYS BK PLC           9.500     9/28/2012     EUR     63.64
BARCLAYS BK PLC           8.500     9/28/2012     EUR     69.02
BARCLAYS BK PLC          13.750     6/22/2012     EUR     58.05
BARCLAYS BK PLC           8.000     9/28/2012     EUR     55.75
BARCLAYS BK PLC           7.000     9/28/2012     EUR     60.27
BARCLAYS BK PLC           7.000     9/28/2012     EUR     70.52
BARCLAYS BK PLC           6.000     9/28/2012     EUR     74.28
BARCLAYS BK PLC           6.000     9/28/2012     EUR     63.19
BARCLAYS BK PLC          14.070     9/14/2012     EUR     71.43
BARCLAYS BK PLC          13.750     9/14/2012     EUR     65.48
BARCLAYS BK PLC          12.200     9/14/2012     EUR     68.11
BARCLAYS BK PLC          12.000     9/14/2012     EUR     51.06
BARCLAYS BK PLC          11.000     9/14/2012     EUR     58.17
BARCLAYS BK PLC          10.250     9/14/2012     EUR     63.82
BARCLAYS BK PLC           9.250     9/14/2012     EUR     55.78
BARCLAYS BK PLC           8.000     9/14/2012     EUR     64.15
BARCLAYS BK PLC           8.000     9/11/2012     USD     10.60
BARCLAYS BK PLC           8.000     9/11/2012     USD     10.71
BARCLAYS BK PLC           9.000     8/28/2012     USD      9.45
BARCLAYS BK PLC          10.800     7/31/2012     USD     26.47
BARCLAYS BK PLC          11.500     7/27/2012     USD      9.48
BARCLAYS BK PLC           7.000     7/27/2012     USD      9.99
BARCLAYS BK PLC          10.000     7/20/2012     USD      6.82
BARCLAYS BK PLC           8.000     6/29/2012     USD      9.55
BARCLAYS BK PLC          16.750     6/22/2012     EUR     63.21
BARCLAYS BK PLC          15.000     6/22/2012     EUR     72.92
BARCLAYS BK PLC          15.000     6/22/2012     EUR     54.51
BARCLAYS BK PLC          14.500     6/22/2012     EUR     57.59
BARCLAYS BK PLC          14.500     6/22/2012     EUR     44.72
BARCLAYS BK PLC           8.000     6/22/2012     EUR     67.74
BARCLAYS BK PLC          13.750     6/22/2012     EUR     53.62
BARCLAYS BK PLC          13.500     6/22/2012     EUR     71.23
BARCLAYS BK PLC          13.000     6/22/2012     EUR     64.03
BARCLAYS BK PLC          12.750     6/22/2012     EUR     48.37
BARCLAYS BK PLC          12.000     6/22/2012     EUR     66.37
BARCLAYS BK PLC          12.000     6/22/2012     EUR     57.04
BARCLAYS BK PLC          12.000     6/22/2012     EUR     75.52
BARCLAYS BK PLC          11.750     6/22/2012     EUR     56.32
BARCLAYS BK PLC          11.500     6/22/2012     EUR     59.98
BARCLAYS BK PLC          11.500     6/22/2012     EUR     50.06
BARCLAYS BK PLC          11.000     6/22/2012     EUR     52.38
BARCLAYS BK PLC          10.750     6/22/2012     EUR     67.58
BARCLAYS BK PLC          10.750     6/22/2012     EUR     51.60
BARCLAYS BK PLC          10.500     6/22/2012     EUR     60.94
BARCLAYS BK PLC          10.500     6/22/2012     EUR     53.09
BARCLAYS BK PLC          10.500     6/22/2012     EUR     59.22
BARCLAYS BK PLC          10.000     6/22/2012     EUR     61.51
BARCLAYS BK PLC           9.750     6/22/2012     EUR     56.37
BARCLAYS BK PLC           9.500     6/22/2012     EUR     70.88
BARCLAYS BK PLC           8.750     6/22/2012     EUR     72.08
BARCLAYS BK PLC           8.500     6/22/2012     EUR     64.36
BARCLAYS BK PLC           8.250     6/22/2012     EUR     65.17
BARCLAYS BK PLC           8.000     6/22/2012     EUR     70.99
BARCLAYS BK PLC           8.000     6/22/2012     EUR     53.88
BARCLAYS BK PLC           8.000     6/22/2012     EUR     62.06
BARCLAYS BK PLC           8.000     6/22/2012     EUR     61.98
BARCLAYS BK PLC          10.250      6/8/2012     EUR     58.31
BARCLAYS BK PLC           7.250     6/22/2012     EUR     59.20
BARCLAYS BK PLC           7.000     6/22/2012     EUR     69.21
BARCLAYS BK PLC           7.000     6/22/2012     EUR     58.71
BARCLAYS BK PLC           7.000     6/22/2012     EUR     68.23
BARCLAYS BK PLC           6.000     6/22/2012     EUR     61.49
BARCLAYS BK PLC           6.000     6/22/2012     EUR     66.57
BARCLAYS BK PLC           6.000     6/22/2012     EUR     73.16
BARCLAYS BK PLC           6.000     6/22/2012     EUR     67.23
BARCLAYS BK PLC           6.000     6/22/2012     EUR     70.78
BARCLAYS BK PLC          16.080      6/8/2012     EUR     69.01
BARCLAYS BK PLC          15.750      6/8/2012     EUR     62.45
BARCLAYS BK PLC          14.220      6/8/2012     EUR     65.29
BARCLAYS BK PLC          13.000      6/8/2012     EUR     48.17
BARCLAYS BK PLC          12.500      6/8/2012     EUR     54.92
BARCLAYS BK PLC          12.000      6/8/2012     EUR     61.02
BARCLAYS BK PLC          11.750      6/8/2012     EUR     48.54
BARCLAYS BK PLC          11.090      6/8/2012     EUR     62.20
BARCLAYS BK PLC          11.000      6/8/2012     EUR     61.22
BARCLAYS BK PLC          11.000      6/8/2012     EUR     75.83
BARCLAYS BK PLC          11.000      6/8/2012     EUR     59.98
BARCLAYS BK PLC          11.000      6/8/2012     EUR     67.27
BARCLAYS BK PLC          10.780      6/8/2012     EUR     70.60
BARCLAYS BK PLC          10.520      6/8/2012     EUR     64.94
BARCLAYS BK PLC          10.500      6/8/2012     EUR     56.02
BARCLAYS BK PLC           9.750      6/8/2012     EUR     74.15
BARCLAYS BK PLC           9.750      6/8/2012     EUR     53.28
BARCLAYS BK PLC           9.500      6/8/2012     EUR     68.17
BARCLAYS BK PLC           9.250      6/8/2012     EUR     70.79
BARCLAYS BK PLC           8.500      6/8/2012     EUR     52.60
BARCLAYS BK PLC           8.250      6/8/2012     EUR     55.59
BARCLAYS BK PLC           8.250      6/8/2012     EUR     66.71
BARCLAYS BK PLC           8.000      6/8/2012     EUR     64.46
BARCLAYS BK PLC           8.000      6/8/2012     EUR     59.98
BARCLAYS BK PLC           8.000      6/8/2012     EUR     72.62
BARCLAYS BK PLC           8.000      6/8/2012     EUR     62.88
BARCLAYS BK PLC           7.000      6/8/2012     EUR     71.03
BARCLAYS BK PLC           7.000      6/8/2012     EUR     69.35
BARCLAYS BK PLC           6.000      6/8/2012     EUR     68.99
BARCLAYS BK PLC          12.950     4/20/2012     USD     23.40
CO-OPERATIVE BNK          5.625    11/16/2021     GBP     76.08
CO-OPERATIVE BNK          5.750     12/2/2024     GBP     72.73
CO-OPERATIVE BNK          5.875     3/28/2033     GBP     72.21
DUNFERMLINE BS            6.000     3/31/2015     GBP      0.63
EFG HELLAS PLC            6.010      1/9/2036     EUR     33.63
EFG HELLAS PLC            5.400     11/2/2047     EUR     37.38
EMPORIKI GRP FIN          5.100     12/9/2021     EUR     49.38
EMPORIKI GRP FIN          5.000     12/2/2021     EUR     48.88
EMPORIKI GRP FIN          6.000     5/18/2022     EUR     52.88
EMPORIKI GRP FIN          5.000     2/24/2022     EUR     48.38
ENTERPRISE INNS           6.875      5/9/2025     GBP     67.00
ENTERPRISE INNS           6.375     9/26/2031     GBP     65.33
ENTERPRISE INNS           6.875     2/15/2021     GBP     72.00
ESSAR ENERGY              4.250      2/1/2016     USD     65.33
F&C ASSET MNGMT           6.750    12/20/2026     GBP     64.64
GALA ELECTRIC CA         11.500      6/1/2019     GBP     66.00
GALA ELECTRIC CA         11.500      6/1/2019     GBP     65.50
GS INTERNATIONAL          9.750     5/22/2012     CHF     56.00
GS INTERNATIONAL          9.500     4/20/2012     CHF     51.80
GS INTERNATIONAL          8.250    12/17/2012     EUR     68.55
HBOS PLC                  6.305    10/18/2017     GBP     74.77
HBOS PLC                  4.375    10/30/2019     EUR     74.51
HBOS PLC                  5.374     6/30/2021     EUR     68.13
HBOS PLC                  6.000     11/1/2033     USD     74.48
HBOS PLC                  6.000     11/1/2033     USD     74.48
HBOS PLC                  4.500     3/18/2030     EUR     62.74
HSBC BANK PLC             0.500      2/2/2023     AUD     50.72
HSBC BANK PLC             0.500     2/24/2023     AUD     53.41
HSBC BANK PLC             0.500      4/3/2023     AUD     55.56
HSBC BANK PLC             0.500     12/8/2026     AUD     44.57
HSBC BANK PLC             0.500    12/29/2026     AUD     44.41
HSBC BANK PLC             4.750     3/24/2046     GBP     74.80
HSBC BANK PLC             0.500     9/28/2018     AUD     72.21
HSBC BANK PLC             0.500    11/16/2018     AUD     69.13
HSBC BANK PLC             0.500    11/22/2021     AUD     60.14
HSBC BANK PLC             0.500     12/2/2022     AUD     56.65
HSBC BANK PLC             0.500    12/29/2022     AUD     52.99
LBG CAPITAL NO.1          6.439     5/23/2020     EUR     74.73
LBG CAPITAL NO.2          6.385     5/12/2020     EUR     74.94
MARSTONS ISSUER           5.641     7/15/2035     GBP     74.08
MATALAN                   9.625     3/31/2017     GBP     68.80
MATALAN                   9.625     3/31/2017     GBP     68.63
MAX PETROLEUM             6.750      9/8/2013     USD     48.43
NOMURA BANK INTL          0.800    12/21/2020     EUR     67.53
OTE PLC                   4.625     5/20/2016     EUR     67.34
PRIVATBANK                5.799      2/9/2016     USD     70.03
PUNCH TAVERNS             7.567     4/15/2026     GBP     54.33
PUNCH TAVERNS             5.883    10/15/2026     GBP     63.05
ROYAL BK SCOTLND          6.250    12/20/2012     EUR     53.16
ROYAL BK SCOTLND          4.625     9/22/2021     EUR     75.05
SPIRIT ISSUER             5.472    12/28/2028     GBP     72.25
THOMAS COOK GR            7.750     6/22/2017     GBP     56.34
THOMAS COOK GR            6.750     6/22/2015     EUR     66.10
UNIQUE PUB FIN            6.464     3/30/2032     GBP     44.92
UNIQUE PUB FIN            5.659     6/30/2027     GBP     72.47
WESSEX WATER FIN          1.499    11/29/2058     GBP     61.25
WESSEX WATER FIN          1.369     7/31/2057     GBP     60.61


                            *********

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, Ivy B. Magdadaro, Frauline S. Abangan and Peter
A. Chapman, Editors.

Copyright 2012.  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 Peter Chapman at 240/629-3300.


                 * * * End of Transmission * * *