TCREUR_Public/120528.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, May 28, 2012, Vol. 13, No. 105

                            Headlines



B E L G I U M

DEXIA BANK: Moody's Lowers Bank Financial Strength Rating to 'D-'
DEXIA SA: In Exclusive Talks to Sell Denizbank Unit to Sberbank


F R A N C E

BIOCORAL INC: Incurs US$365,000 Net Loss in First Quarter
TECHNICOLOR SA: Angers Factory Files for Insolvency in Nanterre


G E R M A N Y

PETROPLUS HOLDINGS: Insgolstadt Refinery Attracts Three Bidders
SCHLECKER: Nicolas Berggruen Among Two Remaining Bidders


G R E E C E

HELLENIC TELECOMS: Moody's Cuts CFR/PDR to 'B3', Under Review


I T A L Y

GHIOLDI: Italian Film Plant Manufacturer Files for Insolvency


L U X E M B O U R G

CARMEUSE HOLDING: S&P Upgrades LT Corporate Credit Rating to 'BB'
MERLIN ENTERTAINMENTS: S&P Raises Corporate Credit Rating to 'B+'
ROSETTA I: S&P Lowers Ratings on Three Note Classes to 'CC'
TMD FRICTION: S&P Affirms 'BB' Long-Term Corporate Credit Rating


N O R W A Y

DNB BANK: Moody's Cuts Tier 1 Securities Ratings to 'Ba1(hyb)'
SPAREBANKEN VEST: Moody's Affirms Ba1(hyb) Rating on Tier 1 Secs.


P O R T U G A L

LUSITANO MORTGAGES: Fitch Affirms 'B' Ratings on Two Note Classes


R O M A N I A

ROMEXPO: Appeals Ruling on Arsenoaiei & Matasel Insolvency Claim


R U S S I A

BANK CENTERCREDIT: Moody's Issues Summary Credit Opinion
EURASIA DRILLING: Fitch Affirms Issuer Default Rating at 'BB'
SISTEMA INT'L: Fitch Rates US$500-Mil. Loan Notes at 'BB-'


S E R B I A   &   M O N T E N E G R O

AGROBANKA AD: License Revoked; Deposits Transferred to New Bank


S P A I N

BANKIA SA: Spanish Government to Pump EUR19 Billion
BANKIA SA: Set to Finalize Restructuring Plan by End of June
BBVA RMBS: Fitch Downgrades 11 & Affirms 2 RMBS Tranches
* SPAIN: Fitch Affirms 18 & Downgrades 4 RMBS Tranches
* SPAIN: May Create One Bank Out of Failed Lenders


S W E D E N

SAAB AUTOMOBILE: China-Japan Investor Group Places Bid


U N I T E D   K I N G D O M

BATTERSEA POWER: Administrators Set to Identify Preferred Bidder
DIAMOND CIRCLE: Rejects Takeover Bid, Proposes Liquidation
HIGHLAND GROUP: S&P Cuts Corp. Credit Rating to 'B'; Outlook Neg
MALACHITE FUNDING: S&P Cuts Rating on US$50MM Tranche to 'CCC-'
RANGERS FOOTBALL: Transfer Embargo Legal Proceedings Begin

RMAC 2005-NS1: S&P Lowers Rating on Class B1 Notes 'B+'
STARLIGHT INVESTMENT: UK Proceeding Recognized by U.S. Court
TRENT DESIGN: Failed Acquisition Prompts Liquidation


X X X X X X X X

* BOND PRICING: For the Week May 21 to May 25, 2012


                            *********


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B E L G I U M
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DEXIA BANK: Moody's Lowers Bank Financial Strength Rating to 'D-'
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Moody's Investors Service has downgraded by one notch to Baa1
with a stable outlook, previously A3 on review with direction
uncertain, the long-term senior debt and deposit ratings of Dexia
Bank Belgium (DBB), known as Belfius Bank. The short-term rating
was downgraded to Prime-2 from Prime-1, previously on review for
downgrade. The downgrade of the long-term senior debt and deposit
ratings to Baa1 directly follows Moody's downgrade of DBB's
standalone bank financial strength rating (BFSR) to D- mapping to
ba3 on the long-term scale -- with a positive outlook. The BFSR
was previously D/ba2, on review with direction uncertain.

The downgrades of the BFSR -- and thus the long-term senior debt
ratings -- were triggered by Moody's view that despite its
progressive disentangling from the Dexia Group, DBB is likely to
need more time than initially expected to stabilize its financial
profile, including its liquidity, its profitability and its risk
concentrations. The long-term ratings continue to benefit from a
very high degree of systemic support, resulting in five notches
of uplift from DBB's standalone credit strength.

DBB's subordinated debt and Dexia Overseas Limited's backed
junior subordinated debt ratings have been downgraded to Baa2
from Baa1 and to Ba2 (hyb) from Ba1 (hyb) respectively. Both
ratings remain on review for downgrade.

DBB's 6.25% cumulative junior subordinated debt rating has been
downgraded to Caa1 (hyb) with a stable outlook, previously B2
(hyb) on review for downgrade.

These rating actions conclude the review for downgrade of DBB's
long and short-term senior ratings and BFSR, initiated on
October 3, 2011.

RATINGS RATIONALE

BFSR DOWNGRADE REFLECTS DBB's ON-GOING RESTRUCTURING

The downgrade of DBB's BFSR to D- (mapping to a ba3 standalone
credit strength) reflects Moody's reassessment in the current
unfavorable macro-economic and funding environment of:

   (i) the bank's still fragile liquidity position, which to a
large extent is driven by the financing provided to Dexia Credit
Local (DCL; E/caa1 stable, Baa2 negative, Prime-2), and which
remains reliant on financing from central banks;

  (ii) the relatively high borrower concentration risk; and

(iii) the lack of visibility on its ability to generate
sufficient profit in the near future to increase its loss
absorption capacity.

At the same time, Moody's recognizes that the disentangling
operations from DCL are progressing, and notably that its
unsecured credit exposure to the latter has almost been
eliminated as of May 24. The rating agency also believes that,
despite some deposit outflows in the fourth quarter of 2011, DBB
has managed to preserve its core franchise in the Belgian retail,
commercial and public sector banking and insurance businesses.
Moody's understands DBB's intention to focus on these activities
going forward and expects its overall risk profile to
progressively return to a level consistent with such businesses.
Nevertheless, DBB's on-going restructuring process may take more
time than initially expected. Hence Moody's considers that its
current profile is more consistent with a BFSR of D-. The
positive outlook of the BFSR reflects the potential improvements
in the bank's liquidity as a result of further de-linkage from
DCL, Moody's expectation of an improved funding structure
resulting from the introduction of a covered bond law in Belgium,
and the potential for improvement in the bank's structural
profitability as it establishes an autonomous track record
outside the Dexia group.

SENIOR DEBT RATINGS UNDERPINNED BY HIGH PROBABILITY OF SYSTEMIC
SUPPORT

The downgrade of DBB's long-term and short-term debt and deposit
ratings to Baa1/P-2 directly follows the downgrade of its
standalone BFSR. Nevertheless, Moody's continues to believe DBB
benefits from a very high probability of systemic support due to
the combination of the following factors:

   (i) its state ownership following its acquisition from Dexia
by the Belgian government in October 2011; and

  (ii) its leading position in financing the Belgian public and
social sector, as well as its significant share of domestic
retail and commercial banking.

For these reasons Moody's incorporates an unusually high five
notches of support uplift from the ba3 standalone credit strength
in Moody's Baa1 senior debt ratings.

The outlook of DBB's senior debt ratings is stable despite the
positive outlook on the bank's BFSR: given the very high support
assumptions already factored into DBB's long-term ratings, the
senior ratings are only likely to be upgraded in the case of a
multi-notch upgrade of the BFSR.

SUBORDINATED AND JUNIOR SUBORDINATED DEBT RATINGS

DBB's subordinated debt and Dexia Overseas Limited's backed
junior subordinated debt ratings are downgraded to Baa2 from Baa1
and to Ba2 (hyb) from Ba1 (hyb) respectively. These ratings still
incorporate systemic support as they continue to be positioned
one notch below DBB's senior supported rating and one notch above
DBB's adjusted BCA respectively -- where the adjusted BCA is
equivalent to its standalone credit strength in the absence of
parental or cooperative support. Both ratings remain on review
for downgrade, reflecting the rising risk that government support
for this type of debt might not be available in the future.

DBB's 6.25% cumulative junior subordinated debt rating is
downgraded to Caa1 (hyb) with a stable outlook from B2 (hyb) on
review for downgrade. Due to the consecutive coupon skips since
November 2009, this security continues to be rated on an
expected-loss basis. The rating agency believes that, in the
context of the acquisition of the bank by the Belgian government,
there is a high risk of either (i) an extension of the ban on DBB
from paying dividends that was imposed by the EU Commission until
the end of 2011, and/or (ii) DBB deciding to not pay any
dividends in the short to medium-term to strengthen its risk
absorption capacity. The downgrade results from both the
downgrade of the BFSR and the assumption of continued coupon
skips.

WHAT COULD MOVE THE RATINGS UP/DOWN

DBB's BFSR could be upgraded as a result of (i) a significant
improvement in its liquidity position; or (ii) further successful
de-risking of the investment portfolio without materially
affecting the bank's capital base; or (iii) evidence of a
recovery and stabilization in its profitability.

An upgrade of DBB's senior ratings could result from a multi-
notch upgrade of the BFSR.

The factors that may exert negative pressure on DBB's stand-alone
credit strength include (i) further deterioration in its
liquidity position that may result from difficulties in accessing
stable funding; (ii) a significant increase in credit losses
stemming from the investment portfolio or the loan book; (iii) an
inability to generate sufficient profit to further strengthen its
capital base.

The bank's senior ratings could be downgraded if (i) the BFSR is
downgraded; or if (ii) the probability of government support
declines; or if (iii) the Belgian sovereign debt experiences
multi-notch rating migration.

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.


DEXIA SA: In Exclusive Talks to Sell Denizbank Unit to Sberbank
---------------------------------------------------------------
Alexander Kolyandr at Dow Jones Newswires reports that Dexia SA
said it is in exclusive talks to sell its Turkish Denizbank AS
unit to Russia's biggest bank, OAO Sberbank, as the Belgian-
French bank continues to sell assets to shore up its balance
sheet.

According to Dow Jones, no financial information was disclosed,
but a person familiar with the talks said a deal could be worth
between US$3 billion and US$4 billion and be "the biggest in
Sberbank's history."  The person added that the details are to be
ironed out in the next two weeks, Dow Jones notes.

Dexia came close to collapse in October because of its reliance
on short-term funding and is now being broken up under a plan
initiated by the French and Belgian governments, Dow Jones
recounts.  Denizbank, which it has owned since 2006, is
considered one of the lender's best assets, and its sale would
mark a major step in the breakup plan, Dow Jones discloses.

"Further to a competitive bidding process, the Dexia group and
Sberbank have decided today to enter into exclusive negotiations
with a view to disposing of Denizbank, following the submission
by Sberbank of a binding offer," Dow Jones quotes Dexia as saying
in a short statement after European markets had closed on
Thursday.  "The parties have agreed to achieve, within the
shortest possible timeframe, the signing of a purchase and sale
agreement. This is for Dexia a major milestone in the execution
of its orderly resolution plan announced in the fall of 2011."

Dexia SA is a Belgian-based bank and insurance carrier that
focuses on Public and Wholesale Banking, providing local public
finance actors with banking and financial solutions, and on
Retail and Commercial Banking in Europe, mainly Belgium, Fance,
Luxembourg and Turkey.



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F R A N C E
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BIOCORAL INC: Incurs US$365,000 Net Loss in First Quarter
---------------------------------------------------------
Biocoral, Inc., filed with the U.S. Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net
loss of US$364,708 on US$78,996 of net sales for the three months
ended March 31, 2012, compared with a net loss of US$200,607 on
US$62,496 of net sales for the same period during the prior year.

Biocoral reported a net loss of US$920,103 in 2011, compared with
a net loss of US$703,272 in 2010.

The Company's balance sheet at March 31, 2012, showed US$1.38
million in total assets, US$4.81 million in total liabilities and
a US$3.42 million total stockholders' deficit.

A free copy of the Form 10-Q is available at http://is.gd/DDb3al

                         About Biocoral, Inc.

Headquartered in La Garenne Colombes, France, Biocoral, Inc.
-- http://www.biocoral.com/-- was incorporated under the laws of
the State of Delaware on May 4, 1992.  Biocoral is a holding
company that conducts its operations primarily through its wholly
owned European subsidiaries.  The Company's operations consist
primarily of research and development and manufacturing and
marketing of patented high technology biomaterials, bone
substitute materials made from coral, and other orthopedic, oral
and maxillo-facial products, including products marketed under
the trade name of Biocoral.  Most of the Company's operations are
conducted from Europe.  The Company has obtained regulatory
approvals to market its products throughout Europe, Canada and
certain other countries.  The Company owns various patents for
its products which have been registered and issued in the United
States, Canada, Japan, Australia and various countries throughout
Europe.  However, the Company has not applied for the regulatory
approvals needed to market its products in the United States.

Michael T. Studer CPA P.C., in Freeport, New York, noted that the
Company's present financial condition raises substantial doubt
about its ability to continue as a going concern.  The
independent auditors added that the Company had net losses for
the years ended Dec. 31, 2011, and 2010, respectively.
Management believes that it is likely that the Company will
continue to incur net losses through at least 2012.  The Company
had a working capital deficiency of approximately US$1,570,000
and US$2,125,000, at Dec. 31, 2011 and 2010, respectively.  The
Company also had a stockholders' deficit at Dec. 31, 2011, and
2010, respectively.


TECHNICOLOR SA: Angers Factory Files for Insolvency in Nanterre
---------------------------------------------------------------
Marie Mawad at Bloomberg News reports that Technicolor SA's
unprofitable set-top box factory in Angers, France, has filed for
insolvency with the Nanterre Commercial Court.

"The president of Thomson Angers has filed for insolvency and has
petitioned the court to open rehabilitation proceedings,"
Bloomberg quotes the Paris-based company as saying on Friday in
an e-mailed statement.

Technicolor said last month that it was in talks with five
potential buyers for the factory, its last production site in
France, Bloomberg recounts.  The company declined to name the
potential buyers for the Angers factory, which employs 330
people, as the discussions were private, Bloomberg notes.

Technicolor SA is a French producer of film-making products and
technology.



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G E R M A N Y
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PETROPLUS HOLDINGS: Insgolstadt Refinery Attracts Three Bidders
---------------------------------------------------------------
Nidaa Bakhsh at Bloomberg News reports that the Ingolstadt oil
refinery in Germany, operated by Petroplus Holdings AG before it
filed for insolvency this year, has three bidders.

The official from IG BCE union, which represents workers from the
mining, chemical and energy industries, said on Friday that the
investor would buy the refinery and keep it running, Bloomberg
relates.  The official said that a deal may be concluded in the
next two weeks, Bloomberg notes.

According to Bloomberg, an official at Jaffe Rechtsanwaelte
Insolvenzverwalter, Petroplus's administrator in Germany, said on
Friday that the refinery has received some binding offers.  The
administrator said in April negotiations would be concluded in
the second quarter, Bloomberg recounts.

The Donau Kurier, citing unidentified people, reported on
Thursday that the Ingolstadt facility, located north of Munich,
is already preparing to restart, Bloomberg notes.

The refinery, which has the capacity to process 110,000 barrels
of crude a day, halted in mid-February after failing to secure
oil supplies, Bloomberg discloses.  Lenders froze credit lines to
Petroplus, based in Zug, Switzerland, at the end of last year,
forcing it to halt three other plants in Europe, Bloomberg
recounts.

Based in Zug, Switzerland, Petroplus Holdings AG is Europe's
largest independent oil refiner.


SCHLECKER: Nicolas Berggruen Among Two Remaining Bidders
--------------------------------------------------------
Julie Cruz at Bloomberg News, citing Sueddeutsche Zeitung,
reports that Nicolas Berggruen, the owner of the Karstadt
department-store chain, is one of the two remaining bidders for
Schlecker.

According to Bloomberg, the German newspaper said that the other
bidder is U.S. private-equity firm Cerberus Capital Management
LP.

Bloomberg relates that Sueddeutsche Zeitung, citing insolvency
administrator Arndt Geiwitz, said Schlecker's creditors have
declined offers made so far because the prices were too low and
the concepts weren't "sophisticated enough".

Sueddeutsche Zeitung said that investors have until June 1 to
submit an offer, Bloomberg notes.

The newspaper, as cited by Bloomberg, said that a spokesman for
Mr. Berggruen confirmed talks had taken place between Messrs.
Berggruen and Geiwitz in the last few days but declined to
comment on any concrete offer or on a price.

Mr. Geiwitz told Sueddeutsche Zeitung that more than 10,000
people would have to be fired if Schlecker's 3,200 stores in
Germany were closed, Bloomberg discloses.

In a separate report, Bloomberg News' Ms. Cruz, citing Financial
Times Deutschland, disclosed that Mr. Berggruen, the owner of the
Karstadt department-store chain, submitted an offer for
Schlecker.

According to Bloomberg, FTD, citing unidentified people familiar
with the talks, said that Mr. Berggruen offers a "low triple
digit million amount."

FTD said that the amount offered is smaller than the value of
Schlecker's individual units, Bloomberg notes.

As reported by the Troubled Company Reporter-Europe on March 20,
2102, Reuters related that Schlecker aims to find an investor by
the end of May.  Unlisted Schlecker filed for insolvency in
January after struggling to secure funds against a gloomy
economic backdrop, Reuters recounted.  The company, which owes
suppliers including Unilever and Procter & Gamble several hundred
million euros, plans to cut about 12,000 jobs and shut more than
2,000 of its 5,400 stores, Reuters disclosed.

Schlecker is a German drugstore chain.



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G R E E C E
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HELLENIC TELECOMS: Moody's Cuts CFR/PDR to 'B3', Under Review
-------------------------------------------------------------
Moody's Investors Service has downgraded to B3 from B2 the
corporate family rating (CFR) and probability of default rating
(PDR) of Hellenic Telecommunications Organisation S.A. (OTE),
Greece's incumbent telecom operator. Concurrently, Moody's has
also downgraded to B3 from B2 the senior unsecured ratings on the
global medium-term notes (GMTN) and global bonds issued by OTE
PLC (OTE's fully and unconditionally guaranteed subsidiary).

In addition, Moody's has placed all the long-term ratings on
review for further downgrade. For a full list of affected
ratings, please refer to the list towards the end of this
release.

Ratings Rationale

"The one-notch downgrade of OTE reflects Moody's increasing
concerns about OTE's ability to service its debt given (i) the
potential for further economic deterioration in Greece; (ii) the
resulting implications for the Greek government's ability to
satisfy the conditions attached to external support; and (iii)
the increased likelihood of a further, disorderly, default and
possibly even of Greece exiting the euro, all of which increase
the uncertainty surrounding OTE's ability to continue to service
its debt under such circumstances," says Carlos Winzer, a Moody's
Senior Vice President and lead analyst for OTE. "This uncertainty
persists despite management's very strong commitment to
preventing a default, and the practical steps the company is
implementing to mitigate the risk. In particular, potentially
severe disruptions in the country's financial and banking system
could have adverse implications for OTE's liquidity and cash
collection," adds Mr. Winzer.

Although Greece's exit from the euro area is not Moody's central
scenario, the rating agency believes that, should it occur, the
risk of OTE being forced to default on some of its debt would be
exacerbated by the risk of a redenomination of the country's
currency, as well as by a potential freeze in foreign currency
exchanges. In addition, a scenario in which OTE's revenues are in
a weak new domestic currency while part of its debt is in euros
would create a significant additional challenge for the company.

However, more positively, Moody's also recognizes the outstanding
corporate restructuring process that OTE has in place, which has
contributed to (i) OTE's more recent EBITDA margin improvement;
(ii) the strengthening of the company's cash flow; (iii) slight
deleveraging; and (iv) some improvement in operating performance
trends, as demonstrated during Q1 2012.

OTE's B3 rating continues to reflect the company's underlying
business risk, given that it operates in a very challenging
market, in which revenues remain under pressure due to a
contraction in consumer spending and tough competition. Moody's
expects OTE's operating performance to continue to be affected by
adverse macroeconomic conditions in Greece, intense competition
across all segments and the increasing challenge the company
faces to further reduce costs while its revenues remain under
pressure. However, the rating agency believes that these factors
will be mitigated by (i) the company's strong market positions in
both domestic fixed-line and mobile services; (ii) a degree of
international diversification, which contributes to the company's
growth outside of Greece; (iii) quality of management, which has
enabled the company to cut operational expenditure to offset
pressure on revenues and contain further erosion of its EBITDA
margin; and (iv) the ongoing implicit support from its largest
shareholder, Deutsche Telekom (rated Baa1/stable).

As part of the review of OTE for further downgrade, Moody's will
assess the outcome of the 17 June general election in Greece and
the country's ability to form a new government. Moody's believes
that this might provide some further clarity on the political
situation in Greece as well as the likelihood of the country
remaining in the euro area. Nevertheless, the downgrade of OTE to
B3 also reflects that the Greek economy could remain vulnerable
to political events for the foreseeable future, even if the
elections results remove the near-term risk of an exit from the
euro area.

The review for downgrade will also include an updated assessment
of the level of implicit support that OTE will receive from
Deutsche Telekom given the rapidly changing circumstances in
Greece. Up until now, Moody's has factored into OTE's overall
rating a one-notch uplift for substantial implied support from
Deutsche Telekom.

Although OTE has sufficient liquidity to cover its refinancing
requirements throughout 2012 and up until mid-2013, Moody's notes
that OTE has debt maturities of approximately EUR1.2 billion
coming due in August 2013. The company will be increasingly
challenged to meet these debt repayments despite (i) its ongoing
negotiations with its banks over the extension of its loans; (ii)
its efforts to effect the disposal of additional assets to raise
cash in order to reduce debt; and (iii) a reduction in its
working capital needs.

WHAT COULD CHANGE THE RATING UP/DOWN

In the absence of a more explicit statement of support from
Deutsche Telekom, Moody's currently expects no upward pressure on
OTE's ratings in the short term, as reflected in the review for
further downgrade. However, positive pressure on the ratings
could develop over time if the macroeconomic environment in
Greece were to improve such that (i) Moody's perceives that it
would favorably affect OTE's operating performance on a
sustainable basis; (ii) the company's free cash flow is
sufficient to allow at least a stabilization of credit metrics
and steady deleveraging; and (iii) concerns over the impact on
OTE of a euro exit by Greece are mitigated.

Further negative pressure on OTE's ratings could arise if (i)
conditions in the domestic environment were to deteriorate
further as a result of a disorderly default of Greek banks or
Greece exiting the euro area; and/or (ii) the company were to
prove unable to renegotiate an extension of its loans, leading to
pressure being exerted on its liquidity.

LIST OF AFFECTED RATINGS

Downgrades:

  Issuer: Hellenic Telecommunications Organization S.A.

     Probability of Default Rating, Downgraded to B3 from B2

     Corporate Family Rating, Downgraded to B3 from B2

  Issuer: OTE PLC

     Senior Unsecured Medium-Term Note Program, Downgraded to
     (P)B3 from (P)B2

     Senior Unsecured Regular Bond/Debenture, Downgraded to B3
     from B2

Outlook Actions:

  Issuer: Hellenic Telecommunications Organization S.A.

    Outlook, Changed To Rating Under Review From Negative

  Issuer: OTE PLC

    Outlook, Changed To Rating Under Review From Negative

The methodologies used in these ratings were Global
Telecommunications Industry published in December 2010, and Loss
Given Default for Speculative-Grade Non-Financial Companies in
the U.S., Canada and EMEA published in June 2009.

Headquartered in Athens, Greece, Hellenic Telecommunications
Organisation SA (OTE) is the Greek incumbent full-service
telecommunications provider, servicing 3.3 million fixed-access
lines, 1.2 million fixed-line broadband connections and some 7.8
million mobile customers in Greece. In addition to its wireless
operations in Greece, the company offers mobile telephony
services to customers in Albania, Bulgaria and Romania. In 2011,
OTE reported total revenues of EUR5.0 billion and EBITDA of
EUR1.7 billion.



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GHIOLDI: Italian Film Plant Manufacturer Files for Insolvency
-------------------------------------------------------------
Plasteurope.com, citing an Italian media report, says that plant
manufacturer Ghioldi has filed for insolvency.

Since its foundation in 1962, the small family-run business has
been manufacturing blown and cast film lines for up to seven-
layer films, Plasteurope.com relates. But when the 2008 economic
crisis hit, Ghioldi found itself in financial disarray, from
which it was not able to emerge on its own.

Before filing for insolvency, Plasteurope.com notes, a mere 17
employees remained at company headquarters in Marnate.  According
to Plasteurope.com, various newspapers report said CEO Angelo
Ghioldi has severed all contact with his workers.

The company reportedly owes two banks a combined sum of
EUR4.5 million, Plasteurope.com discloses.



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L U X E M B O U R G
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CARMEUSE HOLDING: S&P Upgrades LT Corporate Credit Rating to 'BB'
-----------------------------------------------------------------
Standard & Poor's Ratings Services removed its ratings on
Luxembourg-based lime producer Carmeuse Holding S.A. from
CreditWatch, where they were placed with positive implications on
March 8, 2012, and raised the long-term corporate credit rating
on the group to 'BB' from 'BB-'. The outlook is stable.

"The rating action was mainly driven by the successful completion
of the sale of Carmeuse's U.S. industrial sand division for about
$300 million in the end of the first quarter of 2012. This led us
to reassess the group's financial risk profile as 'significant'
compared with 'aggressive' previously, reflecting our expectation
that the group will use most of the proceeds to reduce its debt
and thereby improve its credit ratios," S&P said.

"We understand that that a considerable part of the proceeds has
been used to reduce debt  and now estimate Carmeuse's fully
adjusted funds from operations (FFO) to debt in the 25%-30% range
and debt to EBITDA at 3x-3.5x. We expect both ratios to remain at
these levels through 2013, and believe them to be in line with
the group's 'significant' financial risk profile. The group's
business risk is unaffected by the sale of the non-core sand
division and remains 'satisfactory'," S&P said.

"We understand that of the total cash proceeds of about EUR205
million (after taxes and related costs), about EUR115 was used in
the second quarter of 2012 to lower debt. The remainder of the
proceeds is currently held in cash. In our calculation of
adjusted debt, we assume that EUR35 million of the total cash
amount is tied to operations and do not net this amount. We
understand from management that about EUR10 million will be used
to pay an extraordinary dividend in 2012. Fully adjusted debt at
the end of 2011 stood at EUR932 million (adjusted for operating
leases, pensions, carbon dioxide financing, and a securitization
program)," S&P said.

"In 2011, the group's FFO stood at EUR193 million, which covered
capital spending of EUR138 million. We expect capital spending to
increase to EUR190 million-EUR200 million annually, which in our
base case will lead to low or negative free operating cash flow
(FOCF), depending on working capital movements. This expected
capital spending contains a significant growth component as we
consider maintenance capital spending to amount to a maximum
EUR100 million a year," S&P said.

"In our base case, we anticipate EBITDA in 2012 of about EUR230
million, reflecting weak economic conditions, notably in the
eurozone, and the loss of income from the sand division," S&P
said.

"Carmeuse's results in 2011 were in line with our expectations
with reported EBITDA of EUR249 million (excluding the impact of
acquisitions, disposals, and foreign exchange movements)," S&P
said.

"We continue to view the group's financial risk policy as
aggressive, and do not exclude the possibility that acquisition
risk will return at some point. Accordingly, we do not expect
management to strictly adhere to its financial policy target of
net debt to EBITDA of 2.5x," S&P said.

"The stable outlook reflects our view that Carmeuse will achieve
results in line with the rating, specifically that debt levels
and financial ratios will remain unchanged over the next 12-18
months," S&P said.


MERLIN ENTERTAINMENTS: S&P Raises Corporate Credit Rating to 'B+'
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised to 'B+' from 'B' its
long-term corporate rating on Luxembourg-based visitor
attractions operator Merlin Entertainments S.a.r.l. (Merlin).

"At the same time, we raised our issue rating on Merlin's secured
facilities to 'BB-' from 'B+'. The recovery rating on this debt
remains unchanged at '2', indicating our expectation of
substantial (70%-90%) recovery in the event of a payment
default," S&P said.

"The rating action primarily reflects an improvement in Merlin's
business risk profile, which we now assess at the high end of the
'fair' category. It also reflects our expectations of continued
improvement in the group's credit metrics over the near to medium
term, although we still view the group's financial risk profile
as 'highly leveraged,'" S&P said.

"Despite economic weakness and a challenging environment for
discretionary spending, Merlin has consistently generated
positive top-line and profitability growth over the past five
years. It has achieved this largely through acquisitions and
organic improvements in key performance indicators (KPIs) for the
visitor attractions industry, such as the number of visitors and
revenues per capita. We anticipate that this trend will continue
over the short to medium term, although in our opinion free cash
flow generation will still be limited by Merlin's significant
investment program," S&P said.

"In our view, Merlin's improving revenues and profitability over
the coming year will enable it to sustain its enhanced financial
metrics. We base this view on the full-year contributions of
recent acquisitions and new site openings, and on the group's
resilience to ongoing pressure on consumer spending. As a result,
we believe EBITDA will increase further to about GBP350 million
in 2012, enabling the group to reduce its adjusted debt to EBITDA
ratio to a level close to 5.0x, and adjusted EBITDA interest
coverage toward 2.5x. The stable outlook also reflects our
opinion that Merlin will maintain what we consider to be
'adequate' liquidity, despite its significant investment
program," S&P said.

"Rating pressure could arise if adverse operating developments or
signs of a looser financial policy were to affect Merlin's
improving financial metrics. Specifically, pressure could arise
if adjusted debt to EBITDA were to exceed 5.5x and adjusted
EBITDA interest coverage were to decline to less than 2.0x, or if
we were to reassess the group's liquidity as 'less than
adequate,'" S&P said.

"Rating upside, in our opinion, is limited at this stage, even if
Merlin's credit measures were to improve from their current
levels, due to our view of the group's aggressive financial
policy of focusing on external growth," S&P said.


ROSETTA I: S&P Lowers Ratings on Three Note Classes to 'CC'
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its credit rating on
Rosetta I S.A.'s class A notes. "At the same time, we raised our
rating on the class B notes, and lowered our ratings on the class
C-1, C-2, and C-3 notes," S&P said.

"The rating actions follow our review of the transaction--using
all applicable assumptions and criteria, including our 2010
counterparty criteria and our recovery assumptions for European
bank hybrid securities in collateralized debt obligation (CDO)
portfolios," S&P said.

"On the latest payment date, in April 2012, the issuer fully
redeemed the class A notes. As such, we have withdrawn our 'BBB
(sf)' rating on the class A notes," S&P said.

"From our analysis, we have observed that the class B notes'
outstanding balance has reduced to EUR1.9 million on the latest
payment date. One portfolio security was redeemed at par of EUR4
million after the April payment date and we understand that the
issuer will use the proceeds to fully redeem the class B notes on
the next payment date, in October 2012. We have raised our rating
on the class B notes to 'AA- (sf)' from 'BB- (sf)', to reflect
the prospect of their imminent repayment. The rating was
constrained by our long-term rating on the account bank, The Bank
of New York Mellon (AA-/Negative/A-1+). Since, under our 2010
counterparty criteria, it cannot support a rating higher than our
current long-term rating, we have weak-linked our rating on the
class B notes to our 'AA-' long-term rating on the account bank,"
S&P said.

"Our analysis further shows that, following the class B notes'
expected redemption, the principal balance of collateral
securities and principal cash in the transaction would be
significantly lower than the class C notes' EUR40.38 million
outstanding rated balance. As a result, we expect the class C
noteholders to suffer principal losses. We have lowered our
ratings on the class C-1, C-2, and C-3 notes to 'CC (sf)' from
'CCC- (sf)', to reflect the risk of principal losses," S&P said.

Rosetta I closed in October 2002. It is a cash flow CDO,
collateralized by a portfolio of hybrid capital securities issued
in 2002, or earlier, by European banking groups.

             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

Rosetta I S.A.
EUR153.5 Million Fixed- and Floating-Rate Notes

Rating Withdrawn

A                NR                     BBB (sf)

Rating Raised

B                AA- (sf)               BB- (sf)

Ratings Lowered

C-1              CC (sf)                CCC- (sf)
C-2              CC (sf)                CCC- (sf)
C-3              CC (sf)                CCC- (sf)

NR-Not rated.


TMD FRICTION: S&P Affirms 'BB' Long-Term Corporate Credit Rating
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its long-term
corporate credit rating on Luxembourg-based automotive supplier
TMD Friction Group S.A. (TMD) at 'BB'.

"We also affirmed our issue rating on TMD's EUR97 million senior
secured notes outstanding at 'BB'. We revised the recovery rating
on the notes to '3' from '4' following the partial redemption of
TMD's senior secured notes, reflecting our expectation of
meaningful (50%-70%) recovery prospects in the event of a payment
default," S&P said.

"The corporate credit rating on TMD continues to reflect full
ownership by Nisshinbo Holdings Inc. (not rated), in line with
our parent-subsidiary criteria. While we do not rate Nisshinbo we
view--based on public information--its credit profile in the 'bb'
category, that is, stronger than TMD's stand-alone credit profile
(SACP) that we now assess as 'b'. We view TMD as a strategically
important entity for Nisshinbo," S&P said.

"Since the beginning of the year, TMD has redeemed EUR63 million
of its EUR160 million senior secured notes. These transactions
were funded through a subordinated, noncash-paying shareholder
loan from Nisshinbo. We view this as supportive for TMD's
financial risk profile and for our assumptions about support from
Nisshinbo since it now provides a meaningful portion of the
subsidiary's debt--more than one-third of nonadjusted debt. In
addition, these transactions will support TMD's cash generation
by alleviating cash interests by close to EUR7 million a year,"
S&P said.

"Nisshinbo is a Japanese conglomerate with activities in
automobile brakes like TMD, as well as textiles, paper products,
mechatronics, chemicals, electronics, and real estate businesses
-- primarily in Japan and the rest of Asia. On March 30, 2012,
Nisshinbo reported annual revenue of JPY379 billion (equivalent
to EUR3.7 billion at current exchange rates). Nisshinbo is listed
on the Tokyo stock exchange," S&P said.

"We view TMD's SACP at 'b' compared with 'b+' previously. That's
because we see a weaker 2011 operating performance than we had
previously expected under our base case. More importantly, our
base-case scenario for 2012 assumes a further weakening of our
adjusted EBITDA margin for TMD by 50 basis points (bps) to about
7%. We continue to see weak economic conditions in Europe, where
TMD generates the bulk of its revenues. In addition, we expect
high raw material prices, and pressure on the top line, to
continue to squeeze margins," S&P said.

"The stable outlook reflects our expectations for TMD's SACP and
the benefits of the new ownership. We expect that Nisshinbo will
progressively integrate TMD operationally, therefore reinforcing
the ties between the two companies and supporting the business
profile. We also expect that Nisshinbo will assume any financial
obligation related to the redemption or the refinancing of TMD's
notes in the future," S&P said.

"With respect to TMD's SACP, under our base case we expect the
company to maintain FFO to debt above 10%, which we view as
commensurate with a 'b' SACP," S&P said.

"We anticipate no upside for TMD's corporate credit rating over
the next 12 months. Similarly, given our expectations for 2012
and 2013 under our base case, we expect no upside for the SACP.
However, if the company posts FFO to debt of 15% or higher, we
would revise the SACP upward," S&P said.

"We could lower the corporate credit rating if support and
benefits from the new ownership decline so much that they no
longer would offer financial support to TMD if needed. Likewise,
we could lower the SACP if TMD's stand-alone performance in 2012
falls below our expectations, and pushes down adjusted FFO to
debt below our 10% threshold, which we view as commensurate with
an SACP of 'b'," S&P said.


===========
N O R W A Y
===========


DNB BANK: Moody's Cuts Tier 1 Securities Ratings to 'Ba1(hyb)'
--------------------------------------------------------------
Moody's Investors Service has downgraded the senior debt and
deposit ratings of DNB Bank ASA to A1 from Aa3 and its standalone
bank financial strength rating (BFSR) to C- (mapping to a baa1
standalone credit assessment) from C/a3. The short term Prime-1
ratings were affirmed. The non-cumulative Tier 1 securities
ratings were downgraded to Ba1(hyb) from Baa3(hyb), prompted by
the downgrade of the bank's standalone credit assessment. Moody's
has also downgraded DNB's subordinated and junior subordinated
debt ratings by four notches to Baa3(hyb) and two notches to
Baa3(hyb), respectively. All the ratings carry a stable outlook.

The downgrades reflect (i) DNB's reliance on market funding, at
around 40% (excluding interbank funds, which are largely
deposited with Central Banks) of total funding (ii) exposures to
volatile asset classes, such as commercial real estate (CRE) and
shipping; and (iii) the likelihood that DNB's relatively
diversified earnings will come under pressure from higher
liquidity requirements and weaker revenue raising opportunities.

Moody's notes that several mitigating issues have limited the
magnitude of the downgrade. Specifically, Moody's recognizes the
banks' relatively resilient asset quality and profitability
metrics, partly reflecting its more stable domestic economic
environment, its increased capital and liquidity buffers, as well
as Moody's assessment of a very high probability of systemic
support. As a result, DNB's A1 rating positions it at the high
end of Moody's European banking ratings.

Please click http://is.gd/lekgUyfor the List of Affected Credit
Ratings. This list is an integral part of this Press Release and
identifies each affected issuer.

RATINGS RATIONALE

The downgrade of DNB's standalone rating, and in turn its senior
debt and deposit ratings, was primarily driven by the following
rating drivers.

FIRST DRIVER --- HIGH RELIANCE ON WHOLESALE FUNDING

DNB's funding is characterized by a high degree of reliance on
market funds; only 42% of its funding stems from deposits.
Notwithstanding the bank's recent good access to capital markets
(EUR11 billion long-term funding raised in 2012 so far), Moody's
regards reliance on wholesale funding as credit negative, due to
the inherent confidence sensitivity and the potential for the
availability and cost of market-based funding to change
unexpectedly.

Unlike many other European banks with similar wholesale funding
reliance, Moody's notes several factors which mitigate the extent
of the rating downgrade. In addition to the generally strong
demand from domestic pension funds and others for securities
denominated in Norwegian kroner, Moody's believes that the
rapidly developing Norwegian covered bond market has the
potential to provide a funding source that is typically less
confidence sensitive than other wholesale market sources. Moody's
also notes that DNB has increased the maturity profile of its
funding and maintains adequate liquidity buffers, limiting its
funding risk in the short- term.

SECOND DRIVER --- HIGH EXPOSURE TO VOLATILE SECTORS MIGHT CAUSE
FURTHER ASSET-QUALITY DETERIORATION

Moody's views DNB's sizeable exposure to more volatile sectors,
such as CRE (14.7% of the loan book) and shipping (8.4%,
including cruise, logistics and aviation) as a potential
vulnerability. Moody's typically sees these sectors as more
susceptible to economic downturns.

In addition, similar to its Nordic peers, low interest rates have
thus far supported borrowers' ability to repay their debts and
therefore variable-rate loans in DNB's loan book are vulnerable
to interest-rate hikes. Moody's also considers house prices in
Norway to be somewhat inflated and notes a possible decrease in
house prices would add to the need for provisions by reducing the
value of loan collateral.

However, Moody's acknowledges that DNB's currently sound asset-
quality metrics (problem loans at 2.3% of gross loans at end-
March 2012) -- relative to its rated peers -- are underpinned by
the relatively robust domestic environment, a strong retail base
and a relatively diversified corporate book.

THIRD DRIVER --- DOWNWARD PRESSURE ON EARNINGS FROM COMPETITION
AND INCREASED REGULATORY DEMANDS

DNB's earnings are diversified, mainly stemming from core banking
income in the form of net interest income, which has shown
resilience and has improved despite upwards pressure on funding
costs, due to the bank's substantial re-pricing ability. However,
Moody's believes that DNB's earnings will likely come under
pressure, due to keen competition in Norway as well as increased
regulatory demands regarding liquidity reserves and capital.

MITIGATING FACTORS -- STRONG DOMESTIC ECONOMIC ENVIRONMENT AND
INCREASED CAPITAL AND LIQUIDITY BUFFERS

Moody's notes that the continued strong performance of the
Norwegian economy mitigates some of the rating drivers above,
limiting the extent of downgrade compared with other European
banks. Almost 80% of DNB's earnings stem from Norway and, in
Moody's view, the Norwegian operating environment is less
affected by the global macroeconomic instability and low growth
than most other European countries. DNB's asset quality and
profitability metrics have therefore been less affected, so far,
than many rated European peers.

However, while Moody's recognizes that the macro-economic
environment in Norway is more supportive than in many other
European countries, a further intensification and prolonging of
the euro area crisis may negatively affect Norway's economic
growth and in turn DNB's earnings opportunities in Norway.

In addition, DNB has recently improved its liquidity position
through lengthening its maturity profile and expanding its liquid
assets portfolio, providing a substantial buffer in the event of
market funding pressure. Furthermore, the bank has strengthened
its capital position using internal capital resources and
retained earnings, and the bank's Tier 1 ratio has improved to
9.9% at year-end 2011 from 9.2% at year-end 2010. Both these
factors mitigate the rating pressures described above.

RATINGS RATIONALE -- DEBT & DEPOSIT RATINGS

Moody's maintains its view that DNB is highly likely to benefit
from systemic support if needed, as reflected in the three-notch
uplift for DNB's long-term ratings from its baa1 standalone
credit assessment. The main reasons for Moody's assessment of a
high probability of systemic support are (i) the 34% government
ownership and statement that DNB is the country's flagship bank;
and (ii) its dominant position in the Norwegian banking market,
including for retail deposits.

RATIONALE FOR SUBORDINATED DEBT AND JUNIOR SUBORDINATED DEBT
DOWNGRADES

The downgrade of DNB's subordinated debt and junior subordinated
debt ratings to Baa3(hyb) (two notches below its baa1 standalone
credit assessment) reflects Moody's view that systemic support is
less likely to be extended to subordinated instruments' holders
and the specific features of these instruments, including an
option to permanently write-down principal in a going concern
scenario if net assets are less than 25% of share capital and
after the bank's share capital has been fully written down.
Moody's has also attached a hybrid (hyb) indicator to the dated
subordinated debt of DNB Bank.

THE ACTIONS FOLLOW REVIEW ANNOUNCEMENTS ON 15 FEBRUARY 2012

The rating actions follow Moody's decision to review for
downgrade the ratings for 114 European financial institutions,
including two Norwegian banks -- DNB Bank ASA and Nordea Bank
Norge ASA. The conclusion of the rating review for Nordea Bank
Norge is addressed is a separate press release.

Moody's downgrade of DNB's subordinated and junior subordinated
debt ratings concludes the review of those ratings initiated on
November 29, 2011.

WHAT COULD MOVE THE RATINGS UP/DOWN

Rating upgrades are unlikely in the near future for DNB, for the
reasons cited above. A limited amount of upward rating momentum
could develop for DNB if it substantially improves its credit
profile and resilience to the prevailing conditions. This may
occur through increased standalone strength, e.g. bolstered
capital and liquidity buffers, work-out of asset quality
challenges or improved earnings.

While the current rating levels and outlooks incorporate a degree
of expected further deterioration, ratings may decline further if
(i) operating conditions worsen beyond current expectations,
notably if Norway's sovereign creditworthiness and economic
environment encounter material negative pressure, leading to
asset quality deterioration exceeding current expectations, and
(ii) DNB's market funding access, via covered bonds or wholesale
markets, experiences a sharp decline.

The methodologies used in these ratings 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. Please see
the Credit Policy page on www.moodys.com for a copy of these
methodologies.

DNB Bank, headquartered in Oslo, Norway, reported total assets of
NOK2.1 trillion (EUR278 billion) at the end of March 2012.


SPAREBANKEN VEST: Moody's Affirms Ba1(hyb) Rating on Tier 1 Secs.
-----------------------------------------------------------------
Moody's Investors Service has downgraded the subordinated debt
and junior subordinated MTN ratings of Sparebanken Vest to
Baa3(hyb) from A3 and (P)Baa3 from (P)Baa2, respectively. The
non-cumulative Tier 1 securities Ba1(hyb) rating was affirmed.
The bank's standalone financial strength and long term and short
term senior debt and deposit ratings are not affected by this
rating action.

The actions conclude the review initiated on 29th November 2011,
when Moody's placed on review for downgrade the ratings of the
subordinated and junior subordinated debt of all Norwegian banks,
together with other European countries where the subordinated
debt incorporates some ratings uplift from Moody's assumptions of
government support. All ratings continue to carry a stable
outlook.

Ratings Rationale

The rating action reflects Moody's view that the possibility of
losses being imposed on these instruments outside of liquidation
has risen to a level which is incompatible with any remaining
uplift. Moody's acknowledges that the current legal and
regulatory framework remains ostensibly supportive. However,
Moody's believes the probability of systemic support for these
instrument is substantially lower than that for deposit and
senior debt, given the lesser contagious impact of such losses on
the financial system.

Sparebanken Vest's subordinated (dated) and junior subordinated
(undated) debt instruments are now rated two notches below
Sparebanken Vest's baa1 adjusted BCA (which is the same as its
BCA). There is no coupon deferral option for subordinated debt
while the issuer remains a going concern but junior subordinated
debt features a coupon skip mechanism, which requires coupon
suspension on a cumulative basis if a minimum regulatory capital
trigger is breached. The wider notching compared to similar
instruments issued by banks in other Nordic countries primarily
reflects the ability of rated Norwegian issuers such as
Sparebanken Vest to permanently write-down principal in a going
concern scenario if net assets are less than 25% of share capital
and after the bank's share capital has been fully written down.

Sparebanken Vest's Tier 1 securities continue to be rated three
notches below Sparebanken Vest's adjusted BCA. They are deeply
subordinated, as they are senior only to equity. The loss
absorption for Tier 1 securities stems from the non-cumulative
coupon skip mechanism while the issuer remains a going concern.
Coupon skip is mandatory upon the breach of minimum regulatory
capital requirements or if the issuer does not have sufficient
available distributable funds (balance-sheet trigger). The
securities also feature a permanent principal write-down if the
share capital has been reduced to zero and a temporary principal
write-down if capital falls below the regulatory minimum.

After the rating action, Sparebanken Vest's subordinated debt
ratings no longer include systemic support uplifts, reflecting
Moody's view that systemic support for subordinated debt may no
longer be sufficiently predictable or reliable to be a sound
basis for incorporating uplift into Moody's ratings. Moody's
removed systemic support uplift from Norwegian junior
subordinated and non-cumulative Tier 1 securities' ratings in
February 2010.

Moody's has also attached a hybrid (hyb) indicator to the dated
subordinated debt of Sparebanken Vest.

Rating 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.

Sparebanken Vest, headquartered in Bergen, Norway, reported total
assets of NOK121.5 billion (EUR16 billion) at the end of
March 2012.


===============
P O R T U G A L
===============


LUSITANO MORTGAGES: Fitch Affirms 'B' Ratings on Two Note Classes
-----------------------------------------------------------------
Fitch Ratings has affirmed Lusitano Mortgages No. 4 plc (Lusitano
4) and Lusitano Mortgages No. 5 plc (Lusitano 5), two Portuguese
RMBS transactions comprising loans originated by Banco Espirito
Santo (BES) as follows:

Lusitano 4

  -- Class A (ISIN XS0230694233) affirmed at 'BBB-sf'; Off Rating
     Watch Negative (RWN); Outlook Stable
  -- Class B (ISIN XS0230694589) affirmed at 'BBB-sf'; Off RWN;
     Outlook Stable
  -- Class C (ISIN XS0230695552) affirmed at 'BBB-sf'; Off RWN;
     Outlook Negative
  -- Class D (ISIN XS0230696360) affirmed at 'Bsf'; Outlook
     Negative

Lusitano 5

  -- Class A (ISIN XS0268642161) affirmed at 'BBB-sf'; Off RWN;
     Outlook Stable
  -- Class B (ISIN XS0268642831) affirmed at 'BBB-sf'; Off RWN;
     Outlook Stable
  -- Class C (ISIN XS0268643649) affirmed at 'BBB-sf'; Off RWN;
     Outlook Negative
  -- Class D (ISIN XS0268644886) affirmed at 'Bsf'; Outlook
     Negative

The affirmations reflect Fitch's assessment of the transactions'
structural features, which could mitigate the potential payment
interruption risk in case of servicer default.

The Class A, B and C notes in both transactions were placed on
RWN on November 25, 2011, reflecting concerns over the
transactions' ability to withstand liquidity shortfalls should
the servicer default.  The reserve funds for the two deals are
currently below their target amounts, as they are being utilized
for provisioning for defaulted loans, raising concerns that
insufficient liquidity would be available to support the notes in
the event of default of BES (the servicer).  Fitch has received
confirmation from BES that no additional structural features will
be added to the current structure to further support the rated
notes.

To assess the support available within the structures, Fitch took
into account the principal draw mechanism features that could be
relied upon in the event of payment interruption triggered by the
insolvency of the servicer.  The agency found that the principal
collections from the borrowers do not show significant
concentrations during the month.  With the standard stresses in
regard payment interruption risk were applied, in Fitch's view,
the structures would be sufficient to cover for revenue
shortfalls.  For this reason, the agency has affirmed the ratings
on the notes.


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


ROMEXPO: Appeals Ruling on Arsenoaiei & Matasel Insolvency Claim
----------------------------------------------------------------
Ziarul Financiar reports that Romanian expo center Romexpo said
Friday it has appealed the decision of the Bucharest Court which
upheld an insolvency claim filed against it by firm Arsenoaiei &
Matasel Consulting, arguing that it paid off its 180,000 lei
(EUR40,300) debt in May.



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


BANK CENTERCREDIT: Moody's Issues Summary Credit Opinion
--------------------------------------------------------
Moody's Investors Service issued a summary credit opinion on Bank
CenterCredit and includes certain regulatory disclosures
regarding its ratings.  The release does not constitute any
change in Moody's ratings or rating rationale for Bank
CenterCredit.

Moody's current ratings on Bank CenterCredit are:

Long Term Bank Deposits (domestic and foreign currency) ratings
of B1

Bank Financial Strength ratings of E+

Junior Subordinate (foreign currency) ratings of Caa1 (hyb)

Short Term Bank Deposits (domestic and foreign currency) ratings
of NP

Senior Unsecured (foreign currency) ratings of B2

NSR Long Term Bank Deposits (domestic currency) ratings of Ba3.kz

Rating Rationale

Moody's assigns a standalone bank financial strength rating
(BFSR) of E+ to Bank CenterCredit (BCC), which maps to b2 on the
long-term scale. The rating takes account of significant
challenges - in terms of asset quality, profitability and capital
- that BCC faces as a large player amid the significantly
distressed operating environment in Kazakhstan. However, the
rating captures the bank's strong positions on the local market
where it benefits from double-digit market shares in deposit-
taking and lending, a healthy and stable stream of fee and
commission income, and a cushion of liquid assets together with
moderate reliance on wholesale funding.

Moody's assigns a long-term global local currency (GLC) deposit
rating of B1 to BCC. The rating reflects Moody's assessment of a
low probability that systemic support would be extended to the
bank if a systemic crisis occurred, providing a one-notch uplift
for BCC's GLC deposit rating from its b2 long-term scale. The
ownership by Kookmin Bank (A1/C-, stable outlook) which currently
holds a 42% stake in BCC has no impact on BCC's ratings. All of
BCC's long-term deposit ratings carry a negative outlook, while
the BFSR carries a stable outlook.

Moody's assigns a B2 global foreign currency debt rating for the
bank's senior unsecured obligations that is solely based on the
bank's long-term scale of b2, and assign a Caa1 global foreign
currency debt rating for its junior subordinated obligations. The
ratings take into account the relative seniority ranking of the
obligations in the event of liquidation. Unlike deposit ratings,
the B2 and Caa1 debt ratings do not incorporate any assessment of
systemic support.

Rating drivers

- High level of problem loans negatively affects the bank's
financial fundamentals

- Low capital adequacy and, in Moody's view, deficient loan loss
provisioning level

- Weak and volatile operating environment constrains growth of
the bank's working assets and, accordingly, impedes faster
replenishment of non-performing assets

- Entrenched franchise in the retail and mid-sized corporate
segments

- Robust fee and commission income and sound cost control

- Healthy cushion of liquid assets and remoteness of wholesale
funding repayments

Rating Outlook

The negative outlook on BCC's debt and deposit ratings reflects
ongoing pressure on the bank's standalone financial profile that
could, in the short to medium term, warrant a downwards
adjustment by one notch of the long-term rating scale (mapped
from BCC's E+ BFSR) if the bank's capital position continued to
deteriorate.

What Could Change the Rating - Up

An upgrade of the bank's BFSR and long-term ratings is unlikely
in the medium term.

What Could Change the Rating - Down

Any further deterioration of the bank's assets, leading to a
weakening of the bank's capital profile that negatively affects
sustainability of the bank's operations, could result in a
downgrade of the bank's deposit and debt ratings.

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: A Global Methodology published in March 2012.

Moody's National Scale Ratings (NSRs) are intended as relative
measures of creditworthiness among debt issues and issuers within
a country, enabling market participants to better differentiate
relative risks. NSRs differ from Moody's global scale ratings in
that they are not globally comparable with the full universe of
Moody's rated entities, but only with NSRs for other rated debt
issues and issuers within the same country. NSRs are designated
by a ".nn" country modifier signifying the relevant country, as
in ".kz" for Kazakhstan.


EURASIA DRILLING: Fitch Affirms Issuer Default Rating at 'BB'
-------------------------------------------------------------
Fitch Ratings has affirmed Russia's Eurasia Drilling Company
Ltd.'s (EDC) Long-term foreign currency Issuer Default Rating
(IDR) at 'BB' with a Stable Outlook.  Fitch has also affirmed the
senior unsecured rating of the 8.4% coupon RUB5 billion bonds due
in 2018 issued by OOO Burovoya Kompaniya Eurasia's (BKE), EDC's
wholly owned indirect subsidiary, at 'BB'.

EDC's ratings reflect its position as the largest drilling
company in Russia with a market share of about 27% at end-2011
(by metres drilled), its strong operational profile, a more
modern rig fleet compared to that of its Russian peers and long-
term relationships with its largest customer, OAO LUKOIL
(LUKOIL,'BBB-'/Stable).

The ratings also reflect EDC's strong financial profile, solid
operating profit margins, strong operating cash flows and a debt
profile that is commensurate with the rating level.  In FY11, EDC
generated about US$2.8 billion in revenues, a 52% increase on
FY10, following record drilling volumes of 4.78 million meters, a
16% increase on FY10, on the back of higher drilling volumes from
legacy operations and consolidation of assets acquired from
Schlumberger and Transocean ('BBB-'/Negative).  Fitch estimates
that in FY12-13, EDC will report high single-digit revenue growth
annually, mostly due to incremental revenues from new assets.
Thereafter, EDC should maintain mid single-digit organic revenue
growth.

Fitch views EDC's debt maturity profile as comfortable.  At end-
2011, EDC reported US$753 million of total unadjusted debt.  Its
short-term debt at end-2011 of US$175 million compared well with
US$510 million of cash.  In 2011, BKE, a principal subsidiary of
EDC providing onshore drilling services in Russia, issued RUB5
billion domestic bonds with a put option in 2016.  In 2011, BKE
reported revenues of RUB60.4 billion (or US$2,055 million at the
average RUB-USD exchange rate for 2011) under Russian accounting
principles and its contribution to EDC's 2011 consolidated
revenues and EBITDA was about 75%.

Although EDC increased its total indebtedness in FY11 to finance
capex and acquisitions, Fitch expects that EDC will maintain
funds-from-operations (FFO) adjusted gross leverage under 1.5x in
2011-2015, which is commensurate with the 'BB' rating level.

EDC's ratings are constrained by its small size relative to
international peers, its concentration in onshore drilling in
Russia and significant future capital requirements for its rig
fleet modernization.

Fitch notes that LUKOIL remains EDC's single largest customer
accounting for 61% of total revenues in FY11, down from 71% in
FY10.  Despite the historically high level of customer
concentration, the agency considers the close relationship
between EDC and LUKOIL as positive for EDC's ratings.  Fitch
believes that although the current framework agreement between
EDC and LUKOIL expires in 2012, EDC is well positioned to expand
its operations following LUKOIL's exploration and production
program, in particular, on the Caspian Sea shelf.  The agency
expects that the share of EDC's revenues coming from LUKOIL will
decrease over time as EDC continues to diversify its client base
and geography of operations.

Incorporated in the Cayman Islands and listed on the London Stock
Exchange, EDC is the largest provider of onshore and offshore
drilling services in Russia, as measured by the number of meters
drilled, providing onshore integrated well construction services
and workover services.  Its fleet includes 250-plus onshore
drilling and sidetracking rigs, 330 workover rigs and two
offshore jack-up rigs operating in the Caspian Sea.

The rating actions are as follows:

Eurasia Drilling Company Ltd.

  -- Long-term foreign currency IDR: affirmed at 'BB'; Stable
     Outlook
  -- Long-term local currency IDR: affirmed at 'BB'; Stable
     Outlook
  -- Short-term foreign currency IDR: affirmed at 'B'
  -- Short-term local currency IDR: affirmed at 'B'
  -- National Long-term rating: affirmed at 'AA-(rus)'; Outlook
     Stable

OOO Burovoya Kompaniya Eurasia's 8.4% coupon RUB5bn bonds due in
2018

  -- Senior unsecured rating: affirmed at 'BB'
  -- National senior unsecured rating: affirmed at 'AA-(rus)'


SISTEMA INT'L: Fitch Rates US$500-Mil. Loan Notes at 'BB-'
-----------------------------------------------------------
Fitch Ratings has assigned Sistema International Funding S.A.'s
US$500 million 6.95% loan participation notes (LPNs) due 2019
'BB-' final rating.  The proposed notes were issued on a limited
recourse basis for the sole purpose of funding a loan by Sistema
International Funding S.A. to Sistema Joint Stock Financial Corp.
(Sistema, 'BB-'/Stable).  LPN holders largely benefit from the
same rights, and face the same risks as senior unsecured
creditors to Sistema.

The assignment of the final rating follows the receipt of
documents conforming to information already received.  The final
rating is in line with the expected rating assigned on 04 May
2012.

The revision of the Outlook on Sistema's IDR to Stable in
November 2011 primarily reflected Fitch's assessment that Sistema
was unlikely to come up with a quick solution for its subsidiary
SSTL (Shyam), a small niche CDMA operator in India.  Sistema's
exposure to debt and losses under the current business plan at
Shyam is already reflected in its ratings.  A significant rise in
investments in Shyam may put pressure on Sistema's ratings but
Fitch views this as an unlikely event risk.

Shyam's licenses have been revoked by the Indian regulator from
September 2012. Unless the company can find a solution to this
conundrum or new regulatory initiatives are announced, it may be
forced to stop operations by then.  This is likely to trigger an
event of default under its obligations, and creditors will be
able to accelerate redemption of virtually all outstanding debt.
Sistema publicly disclosed that it guarantees approximately
US$1.5 billion of debt at Shyam.

Sistema's ratings continue to be supported by strong operating
and financial performance at its key subsidiaries, MTS
('BB+'/Stable), a large Russian/CIS mobile operator, and
Bashneft, a medium-size Russian oil and gas company.  MTS's free
cash flow (FCF) generation is strong supporting its ability to
pay large dividends.  MTS has low leverage, at 1.3x net debt/LTM
EBITDA at end-2011.  As a controlling shareholder, Sistema
retains the flexibility to increase leverage and squeeze
additional dividends from this company without jeopardizing its
credit ratings.  Bashneft is expected to continue paying high
dividends, although this may be challenged by the high capex
required to develop the new Trebs-Titov oil field.

Sistema's groupwide leverage was reported at a moderate 1.6x net
debt/EBITDA at end-2011 but this is unevenly distributed between
various segments.  Weaker subsidiaries are much more leveraged
than key ones, and there is a significant amount of debt at the
holdco level.  In addition to the holdco's headline debt, it
guarantees some debt at its subsidiaries, most importantly at
Shyam.

As a result, leverage as measured by the ratio of net debt
including off-balance sheet obligations to normalized dividends
is high and Fitch expects it to remain significantly above 2.5x,
to a large part driven by continuing investments into Shyam.  A
rise in that ratio to above 4.3x on a sustained basis may lead to
a downgrade.



=====================================
S E R B I A   &   M O N T E N E G R O
=====================================


AGROBANKA AD: License Revoked; Deposits Transferred to New Bank
---------------------------------------------------------------
Gordana Filipovic at Bloomberg News reports that Serbia's central
bank revoked the license held by Agrobanka AD, the unprofitable
lender placed in receivership five months ago, and decided to
transfer its deposits to a new bank that has yet to be licensed.

The Belgrade-based Narodna Banka Srbije, or the National Bank of
Serbia, said in a statement on its Web site on Friday that it
appointed the Deposit Insurance Agency administrator to steer the
process, Bloomberg relates.

"In order to ensure the continuity of business activities of
Agrobanka and fully protect the interests of its depositors and
other creditors, the Deposit Insurance Agency has submitted a
request to the National Bank of Serbia to issue a license to a
bank that would operate under the name of Nova Agrobanka AD
Beograd," Bloomberg quotes the central bank as saying in the
statement.  The new lender will take over "not only insured but
all other deposits and part of liabilities and claims."

Authorities fired Agrobanka's management on Dec. 29 and placed it
in receivership after inspectors discovered its capital didn't
match the risk it had assumed, Bloomberg recounts.

The bank, in which the government holds a 20% stake, had an
unaudited 2011 loss of RSD29.7 billion (US$321 million),
Bloomberg notes.  Agrobanka reported the loss after a full-year
pretax profit of RSD1.18 billion in 2010 and a loss of RSD2.27
billion at the end of September 2011, Bloomberg discloses.

The old bank will keep the remaining liabilities and claims and
may stay in administration for as long as 25 days after its
license has been revoked, Bloomberg says.

Agrobanka AD is a commercial bank.  The Bank offers retail and
corporate services in loans for current agricultural productions,
such as cattle and plant production, farming machinery, food
processing, delivery vehicles, and other agricultural operations.



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


BANKIA SA: Spanish Government to Pump EUR19 Billion
---------------------------------------------------
Christopher Bjork, Jonathan House and Sara Schaefer Munoz at Dow
Jones Newswires report that Spain will pump EUR19 billion
(US$24 billion) into Bankia SA, effectively nationalizing the
bank.

The bailout would be the largest in Spain's history, doubling
what Spain has so far spent to clean up a banking sector in the
wake of the collapse of the country's housing bubble, Dow Jones
notes.

Word of the move came late Friday after Europe's markets closed,
so it isn't clear whether the government's action will have the
intended effect or simply harden doubts about the integrity of
the country's banking system, Dow Jones relates.

Bankia's Spain-wide operations and exposure to the country's
troubled property market have made it a barometer of the health
of the entire Spanish banking system, Dow Jones says.  Bankia has
been a particular focus after the International Monetary Fund
raised questions about its health in a recent report and it was
forced to restate its earnings, Dow Jones states.

According to Dow Jones, one worry is that the bigger-than-
expected Bankia bailout could fuel speculation that more
unrecognized problems may be lurking in other Spanish banks.
That would raise questions over whether cash-strapped Madrid can
handle such problems without the type of international
intervention seen in Greece and Ireland, Dow Jones notes.

Dow Jones relates that in a statement Friday, Bankia said its
management had made the funding request, which it had
"coordinated" with the government of Prime Minister Mariano Rajoy
and the Spanish central bank.  According to Dow Jones, people
close to the situation said that the bailout should get formal
approval from the Spanish authorities in the coming days.

In its statement Friday, Bankia, as cited by Dow Jones, said it
will set aside EUR12.75 billion to clean up its real-estate
assets, which are the largest in the Spanish banking sector,
totaling more than EUR50 billion including developer loans and
foreclosed properties.  Once this has been done, it said, the
bank will have cash at hand to take a loss of 48.8% on this
portfolio, Dow Jones relates.

It also said it had dismissed 16 of its 18 directors and reduced
its board to 10 directors, Dow Jones recounts.  The bank also
restated last year's results to a loss of EUR2.98 billion, from a
previously reported net profit of EUR309 million, Dow Jones
discloses.

Bankia SA accepts deposits and offers commercial banking
services.  The Bank offers retail banking, business banking,
corporate finance, capital markets, and asset and private banking
management services.


BANKIA SA: Set to Finalize Restructuring Plan by End of June
------------------------------------------------------------
BBC News reports that Bankia, has promised more transparency, a
day after announcing huge losses and asking for a bailout.

Jose Ignacio Goirigolzarri told a news conference a full
restructuring plan would be finalized by the end of June, BBC
relates.

On Friday, the bank revised its 2011 results from a profit of
EUR300 million (GBP240 million; US$375 million) to a EUR2.98
billion loss, and asked the state for EUR19 billion, BBC
discloses.

The Madrid stockmarket suspended trading in Bankia shares on
Friday, BBC notes.

The bailout of Bankia would be the biggest of its kind in Spanish
history and would largely nationalize the bank, BBC states.

According to BBC, Mr. Goirigolzarri said the bank would use the
bailout money to clean-up losses from loans made during the
construction boom and protect against future losses.

As reported by the Troubled Company Reporter-Europe on May 24,
2012, Dow Jones Newswires related that the Spanish government
will provide about EUR9 billion (US$11.4 billion) to cover Bankia
SA's provisioning needs.  Finance Minister Luis de Guindos told
legislators in Parliament on May 23 that since Bankia won't be
able to meet provisioning and capital needs, Spain's Fund for
Orderly Bank Restructuring will be ready to inject capital into
Bankia's unlisted parent company, Banco Financiero y de Ahorros
SA, which holds the company's most toxic real-estate asset, Dow
Jones disclosed.

Bankia SA is Spain's fourth largest bank.  The Bank accepts
deposits and offers commercial banking services.  The Bank offers
retail banking, business banking, corporate finance, capital
markets, and asset and private banking management services.


BBVA RMBS: Fitch Downgrades 11 & Affirms 2 RMBS Tranches
--------------------------------------------------------
Fitch Ratings has downgraded 11 and affirmed two tranches of
three BBVA RMBS transactions.  The agency has also removed ten
tranches from Rating Watch Negative (RWN).

The rating actions follow the further deterioration of the
underlying assets in the portfolio, as well as the receipt and
analysis of the defaulted loans in the portfolio.  The agency
believes that the credit support available to the rated notes is
no longer sufficient to withstand the higher investment grade
stresses, and has therefore downgraded the senior notes of BBVA
RMBS 1 and 2 to 'Asf' and 'BBBsf', respectively and of BBVA RMBS
3 to 'BBsf'.

Despite the stabilization in three-months plus arrears, the level
of gross period defaults continues to exceed the gross excess
spread generated by the transactions. With all three transactions
having reported depleted reserve funds on the most recent payment
date, the deals now have technical principal deficiency ledgers
(PDL) ranging from 0.03% (BBVA RMBS 1) to 5.96% (BBVA RMBS 3) of
the current note balance.  For the least seasoned of the three
transactions, BBVA RMBS 3, this PDL reaches as far as the class B
notes.

The agency has received loan-by-loan level information on current
and past defaulted loans, and conducted an analysis that showed
that most of them have adverse features in particular broker-
originated and high loan-to-value ratios.  The agency also
identified that the defaulted borrowers were predominantly self-
employed or working on temporary basis and a significant portion
of them were linked to the IRPH index (between 15% and 30% of the
defaulted loans).  The latter is a trend seen in other Spanish
RMBS transactions with portions of IRPH linked loans in the
portfolio.  Although 12-month EURIBOR is a base in the
calculation of the IRPH index, this reference rate has not
necessarily followed the steep declining trend of the EURIBOR.
The margin above 12-month EURIBOR currently stands at 330bps, and
is assumed to be putting pressure on the borrowers' ability to
meet their monthly payments.

In its analysis of Spanish RMBS transactions, Fitch applies
additional default probability hits for each of the above
features.  However, the analysis of the defaulted loans also
showed that most of the loans that have defaulted are those
originated in or after 2006 (between 36.4% (BBVA RMBS 2) and
76.9% (BBVA RMBS 3) of the defaulted balance).  As a result,
Fitch has applied additional default probability hits for loans
originated in 2006 and 2007.

To date, the gestora has taken an active approach towards the
sale of properties on foreclosed loans.  The data shows that the
loss severities incurred on such loans range from 3.7% to 72.9%
across all three transactions.  As of December 2011, the
outstanding balance of properties in possession of the special
purpose vehicle ranged between 1.7% (BBVA RMBS 1) and 6.9% (BBVA
RMBS 3) of the current portfolio balances.  Based on the updated
valuations for the underlying properties received from the
gestora, which show an average house price decline of 40.8%,
Fitch estimated a loss of EUR10.4 million, EUR19.4 million and
EUR49.3 million in BBVA RMBS 1, 2 and 3 respectively.

With the stresses applied to the transactions, the agency found
that the credit support available to the rated tranches was no
longer sufficient to maintain the ratings, and has therefore
downgraded the senior and mezzanine notes of BBVA RMBS 1 and 2,
and the full capital structure of BBVA RMBS 3.  The Negative
Outlooks assigned to the class A and B notes of BBVA RMBS 1 and
2, reflect Fitch's ongoing concerns over the future performance
of the underlying assets, particularly in the current economic
environment.

Fitch also notes that BBVA RMBS 2 is close to breaching its class
A pro-rata amortization trigger.  The ratio of the outstanding
balance of non-delinquent loans (defined as loans that are not in
arrears by three months or more) to the class A notes in BBVA
RMBS 2 currently stands at 1.06, compared to the trigger level of
1.0.  As this trigger, set slightly higher at 1.05, has already
been breached in BBVA RMBS 3 and the agency believes it will also
be breached in BBVA RMBS 2 in the future, the ratings on the
senior notes of these two transactions were maintained at the
same rating levels.

The rating actions are as follows:

BBVA RMBS 1, FTA:

  -- Class A2 (ISIN ES0314147010): downgraded to 'Asf' from 'AA-
     sf'; off RWN; Outlook Negative
  -- Class A3 (ISIN ES0314147028): downgraded to 'Asf' from 'AA-
     sf'; off RWN; Outlook Negative
  -- Class B (ISIN ES0314147036): downgraded to 'BBsf' from
     'BBBsf'; off RWN; Outlook Negative
  -- Class C (ISIN ES0314147044): affirmed at 'CCCsf'; Recovery
     Estimate revised to 0% from 55%

BBVA RMBS 2, FTA:

  -- Class A2 (ISIN ES0314148018): downgraded to 'BBBsf' from
     'AAsf'; off RWN; Outlook Negative
  -- Class A3 (ISIN ES0314148026): downgraded to 'BBBsf' from
     'AAsf'; off RWN; Outlook Negative
  -- Class A4 (ISIN ES0314148034): downgraded to 'BBBsf' from
     'AAsf'; off RWN; Outlook Negative
  -- Class B (ISIN ES0314148042): downgraded to 'BBsf' from
     'BBBsf'; off RWN; Outlook Negative
  -- Class C (ISIN ES0314148059): affirmed at 'CCCsf'; Recovery
     Estimate revised to 5% from 90%

BBVA RMBS 3, FTA:

  -- Class A1 (ISIN ES0314149008): downgraded to 'BBsf' from
     'Asf'; off RWN; Outlook Stable
  -- Class A2 (ISIN ES0314149016): downgraded to 'BBsf' from
     'Asf'; off RWN; Outlook Stable
  -- Class B (ISIN ES0314149032): downgraded to 'CCCsf' from
     'Bsf'; off RWN; Recovery Estimate 0% assigned
  -- Class C (ISIN ES0314149040): downgraded to 'CCsf' from
     'CCCsf'; Recovery Estimate 0%


* SPAIN: Fitch Affirms 18 & Downgrades 4 RMBS Tranches
------------------------------------------------------
Fitch Ratings has affirmed 18 and downgraded four tranches of TDA
24, 25, 27 and 28, a series of Spanish RMBS transactions.

The downgrades of the four tranches reflect the continued adverse
performance of loans originated by Credifimo whereas the Rating
Watch Negative (RWN) is maintained due to Fitch's continued
concern with the eligibility of Credifimo loans following the
discovery of non-compliant loans in TDA 28.

TDA 24, 25, 27 and 28 all feature a share of loans originated by
Credifimo within their asset portfolios, with 21%, 77%, 16% and
40% of these loans in each transaction respectively.  Fitch
understands that an independent audit of the loans in TDA 28 was
conducted and that more than 1,700 Credifimo loans (equivalent to
EUR173.9 million), were identified as not having been originated
in compliance with the standard criteria.  According to a
statement published by the special purpose vehicle (SPV)
management company (Titulizacion de Activos; TdA), Credifimo was
asked to replace these loans, but no such action has been taken.
Therefore, in February 2012, TdA commenced legal action against
Credifimo.

The non-compliance of loans in TDA 28 and the chance that this
could be repeated in the other deals with Credifimo assets, was
the primary reason that notes rated above 'CCCsf' in these deals
were placed on RWN in December 2011.  To date, Fitch is still
unaware of the reasons for the non-eligibility of the TDA 28
Credifimo loans and if these will have any material effects on
the TDA 28 deal.  Therefore, notes rated above 'CCCsf' will
remain on RWN.  Fitch will aim to resolve the RWN as new
information emerges from the legal case.

The uncertainty associated with such non-compliance loans is
complemented with the weak credit performance trends of these
four transactions, in particular TDA 25 and 28 as Credifimo's
share is larger.  The level of defaults (defined as loans in
arrears by more than 12 months) reported to date stood at 17% and
18% of the total original balance of the pool respectively, which
are amongst the highest levels seen on any Spanish RMBS
transaction rated by Fitch.

Fitch notes that the proportion of defaulted loans attributed to
Credifimo was over 86% for all transactions and up to 99% for TDA
25.

As a result of the high levels of defaults in TDA 25 and 28, the
excess spread generated in the deals has been insufficient to
clear period provisions.  This has led to a depleted reserve fund
and a large build up of un-provisioned stock amounting to EUR39.5
million (TDA 25) and EUR72.8 million (TDA 28) as of March 2012.

Moreover, across the whole series the track record on recovery
cash flows is extremely poor with only a single property with a
value depreciation of 71% sold out of 206 in possession as of
December 2011.  This increases uncertainty about the level and
timing of eventual recoveries associated with defaulted loans.

Due to the limited information on actual recoveries received from
the sale of properties of defaulted loans, in its analysis of the
transaction, Fitch assumed recoveries on the current stock of
defaulted loans in line with the average market value decline
observed in the Spanish market of around 48%.  The agency
believes that the proceeds from the sale of properties in
possession will be insufficient to fully clear the outstanding
technical principal deficiency ledgers in these transactions.
The downgrades of the class A notes to 'CCCsf' from 'BBsf' and of
the class B notes to 'CCsf' from 'CCCsf' in both of these deals
is a direct reflection of this analysis, and it conveys the
message of a real possibility of default as per the transaction
terms.

TDA 24 and 27 feature a much lower proportion of Credifimo loans
(21% and 16% respectively) and as a result the performances of
the transactions as a whole have not been as adverse as that seen
in the other two deals.  The level of defaults, although still
high when compared to most other Fitch rated Spanish RMBS
transactions, stand at 5% and 6% of the total original balance of
the pool respectively.

The reserve funds in these transactions are also depleted leading
to a build up of un-provisioned loan stock. As of March 2012, the
levels of un-provisioned loans in TDA 24 and 27 stood at EUR15.8
million and EUR30.4 million respectively.  However, unlike TDA 25
and 28, the expected recoveries on the current stock of defaulted
loans were able to provide suitable coverage for the 'BBBsf' and
'BBB-sf' stresses respectively.  The notes have therefore been
affirmed.

The rating actions are as follows:

TDA 24:

  -- Class A1 (ISIN ES0377952009) 'BBBsf'; RWN maintained
  -- Class A2 (ISIN ES0377952017) 'BBBsf'; RWN maintained
  -- Class B (ISIN ES0377952025) 'Bsf'; RWN maintained
  -- Class C (ISIN ES0377952033) affirmed at 'CCCsf'; Recovery
     Estimate 0%
  -- Class D (ISIN ES0377952041) affirmed at 'CCsf'; Recovery
     Estimate 0%

TDA 25:
  -- Class A (ISIN ES0377929007) downgraded to 'CCCsf' from
     'BBsf'; Recovery Estimate 80%
  -- Class B (ISIN ES0377929015) downgraded to 'CCsf' from
     'CCCsf'; Recovery Estimate 0%
  -- Class C (ISIN ES0377929023) affirmed at 'CCsf'; Recovery
     Estimate 0%
  -- Class D (ISIN ES0377929031) affirmed at 'CCsf'; Recovery
     Estimate 0%

TDA 27:

  -- Class A2 (ISIN ES0377954013) 'BBB-sf'; RWN maintained
  -- Class A3 (ISIN ES0377954021) 'BBB-sf'; RWN maintained
  -- Class B (ISIN ES0377954039) 'BBsf'; RWN maintained
  -- Class C (ISIN ES0377954047) 'Bsf'; RWN maintained
  -- Class D (ISIN ES0377954054) affirmed at 'CCCsf'; Recovery
     Estimate 0%
  -- Class E (ISIN ES0377954062) affirmed at 'CCsf'; Recovery
     Estimate 0%
  -- Class F (ISIN ES0377954070) affirmed at 'CCsf'; Recovery
     Estimate 0%

TDA 28

  -- Class A (ISIN ES0377930005) downgraded to 'CCCsf' from
     'BBsf'; Recovery Estimate 90%
  -- Class B (ISIN ES0377930013) downgraded to 'CCsf' from
     'CCCsf'; Recovery Estimate 0%
  -- Class C (ISIN ES0377930021) affirmed at 'CCsf'; Recovery
     Estimate 0%
  -- Class D (ISIN ES0377930039) affirmed at 'CCsf'; Recovery
     Estimate 0%
  -- Class E (ISIN ES0377930047) affirmed at 'CCsf'; Recovery
     Estimate 0%
  -- Class F (ISIN ES0377930054) affirmed at 'CCsf'; Recovery
     Estimate 0%


* SPAIN: May Create One Bank Out of Failed Lenders
--------------------------------------------------
Carlos Ruano and Jesus Aguado at Reuters report that a senior
Economy Ministry source said Spain may create one nationalized
bank out of its failed lenders including problem lender Bankia if
the state cannot find buyers for state-rescued banks.

The country's weak banks are central to the European debt crisis
as many investors believe the government will only be able to
support them by seeking international aid, Reuters says.

The source said that the government will see what offers are made
for state-rescued mid-sized regional bank Catalunya Caixa in an
auction due next month and may combine it with other failed banks
if no attractive offers are forthcoming, Reuters notes.

Auctions for Catalunya Caixa and small listed bank Banco de
Valencia, with assets of around EUR20 billion, taken over by the
government when they couldn't handle losses related to a real
estate crash, are due to take place next month, Reuters
discloses.


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


SAAB AUTOMOBILE: China-Japan Investor Group Places Bid
------------------------------------------------------

Bloomberg News reports that a group led by a Chinese energy
company and a Japanese venture-capital firm has placed a bid for
Saab Automobile.

The two main parties in the group are Sun Investment, a Japanese
firm that specializes in high-tech environmental projects, and
National Modern Energy Holdings Ltd., which has roots in Hong
Kong and builds and owns power plants, Bloomberg discloses.

"We have placed a bid, and we want to buy Saab and build cars,"
Bloomberg quotes Mattias Bergman, a spokesman for the group, as
saying on Friday.  "We're interested in what Saab's brand stands
for, the innovation and competence in the company, and the
production facility that's world class."

Mr. Bergman, as cited by Bloomberg, said that the bidding group
has additional participants.

The group, Bloomberg says, has formed a company called National
Electric Vehicle Sweden AB "with the only purpose of buying
Saab's assets."

Karl-Erling Trogen, a former Volvo AB executive, is chairman,
Bloomberg states.

Mr. Bergman declined to talk about the size of the bid or the
group's business plan, including whether the investors primarily
aim to build electric cars, Bloomberg notes.

Saab Automobile AB is a Swedish car manufacturer owned by Dutch
automobile manufacturer Swedish Automobile NV, formerly Spyker
Cars NV.  Saab Automobile AB, Saab Automobile Tools AB and Saab
Powertain AB filed for bankruptcy on Dec. 19, 2011, after running
out of cash.



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


BATTERSEA POWER: Administrators Set to Identify Preferred Bidder
----------------------------------------------------------------
Graham Ruddick at The Telegraph reports that the future of
Battersea Power Station could be determined as early as this week
with the administrators preparing to identify their preferred
bidder for the historic 38-acre site.

It is understood that Malaysian property company SP Setia is
leading the way ahead of a consortium led by veteran developer
Godfrey Bradman and a bid by Chelsea Football Club to turn the
power station, which has lain dormant since 1983 despite various
redevelopment attempts, into a stadium, the Telegraph notes.

According to the Telegraph, Ernst & Young, the administrators,
are trying to recoup more than GBP330 million for Lloyds Banking
Group and Ireland's National Asset Management Agency after the
power station was placed into administration last year.

However, talks over a deal are likely to be complex because Mr.
Bradman has struck a deal to buy GBP180 million of debt from the
junior creditor, Victor Hwang, the Telegraph discloses.

Battersea Power Station, with four 350-foot-high smokestacks, is
Europe's largest brick building.


DIAMOND CIRCLE: Rejects Takeover Bid, Proposes Liquidation
----------------------------------------------------------
Edahn Golan at International Diamond Exchange reports that the
board of Diamond Circle Capital plc is recommending shareholders
to reject a takeover bid that greatly undervalues their shares
and diamond inventory of the fund.

IDX relates that DCC's board said it views the $3.50 per share
offer by Abdallah Chatila a hostile takeover attempt. After
months of trading at $4.20 on the London Stock Exchange, the
share price bobbed up to $4.33.

The report says the fund holds an inventory of high value
diamonds worth an estimated $7.25 per share.

According to IDX, the board believes that if it liquidated its
portfolio of diamonds, it would be possible to make a greater
return to shareholders and therefore recommends rejecting the
offer.

The board said it is not viewing this as a theoretic step,
suggesting to shareholders that it sells its portfolio of
diamonds and distribute the income, adds IDX.

Based in Douglas, U.K., Diamond Circle Capital PLC operates as a
closed-end investment company investing in polished diamonds.


HIGHLAND GROUP: S&P Cuts Corp. Credit Rating to 'B'; Outlook Neg
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term
corporate credit rating on U.K.-based high-end department store
chain Highland Group Holdings Ltd. (House of Fraser) to 'B' from
'B+'. The outlook is negative.

"At the same time, we lowered our issue ratings on House of
Fraser's GBP250 million senior secured notes to 'B' from 'B+', in
line with the corporate credit rating. The recovery rating on
these notes remains unchanged at '4', indicating our expectation
of average (30%-50%) recovery in the event of payment default.
The downgrade reflects our view of House of Fraser's
disappointing results in the fiscal year ended Jan. 28, 2012
(fiscal 2012), which contributed to a significant weakening of
its adjusted credit metrics and our revised assessment of its
business risk profile," S&P said.

"House of Fraser's vulnerability to adverse market developments,
particularly during its important last quarter of fiscal 2012,
was more pronounced than we previously anticipated, leading us to
revise our assessment of its business risk profile to 'fair' from
'satisfactory,'" S&P said.

"A decline in EBITDA, reflecting the difficult trading
environment in the U.K., and a sizable increase in its pension
deficit, caused House of Fraser's adjusted leverage and interest
cover ratios to deteriorate to 9.8x and 1.3x, compared with 7.5x
and 1.4x in the previous year. The earnings decline, coupled with
higher investment and refurbishment costs, has also caused the
company's reported free operating cash flow to shrink by almost
90% to less than GBP5 million from more than GBP30 million in the
previous fiscal year," S&P said.

"The negative outlook reflects our view that, given ongoing
challenging economic conditions and the seasonal nature of the
business, further setbacks in earnings and higher fixed costs
could tighten House of Fraser's headroom under its financial
covenants below our 15% threshold toward the end of fiscal 2013,"
S&P said.

"We could lower the ratings if tightening headroom under
financial covenants makes a covenant breach likely, particularly
in light of a continuing setback in earnings generation and
increased fixed costs. We could also take a negative rating
action if House of Fraser's operating performance continues to
weaken, causing the company's adjusted interest cover ratio to
fall below 1.0x, or FOCF turns negative by fiscal year-end 2013,"
S&P said.

"We currently do not see upside rating potential given our
assessment of the company's liquidity position as 'less than
adequate,' and our view of House of Fraser's modest potential to
improve financial metrics over the medium term. A positive rating
action, however, would be conditional on a revision of our
assessment of House of Fraser's liquidity to 'adequate,' adjusted
interest cover of at least 1.5x, and free operating cash flow
remaining sustainably positive," S&P said.


MALACHITE FUNDING: S&P Cuts Rating on US$50MM Tranche to 'CCC-'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its credit ratings on
all of Malachite Funding Ltd.'s super senior and junior senior
notes. "At the same time, we withdrew our rating on the series
2010-1 Tier 4 junior senior notes, and affirmed our ratings on
the Tier 1 and Tier 2 income notes," S&P said.

"The rating actions follow the application of our updated
criteria for collateralized debt obligations (CDOs) of pooled
structured finance assets, as well as our assessment of credit
deterioration in the transaction portfolio. We have assessed the
transaction's performance using data from the latest available
trustee report and our cash flow analysis, taking into account
recent transaction developments," S&P said.

"The Malachite portfolio comprises approximately 93% structured
finance securities, of which 37% of the performing balance
comprises European and U.S. residential mortgage-backed
securities (RMBS). The remaining portion of the structured
finance pool mainly comprises European and U.S. commercial backed
securities (CMBS; 25.53% of the performing balance), U.S. CDOs of
corporate securities (21.64% of the performing balance), and
consumer and commercial asset-backed securities (ABS; 8.8%). The
remainder of the portfolio is mainly exposed to subordinated debt
issued by financial institutions," S&P said.

"Our analysis indicates that there has been an overall
deterioration in the general credit quality of the underlying
assets in the portfolio since our previous review. For example,
approximately 14% of the assets in the current portfolio are
rated 'AAA' according to our analysis, compared with 33% at our
previous review in September 2010. In particular, our analysis
shows that the migration of the ratings on the assets in the
underlying portfolio has been most visible in the structured
finance portion of the pool, particularly among the RMBS and CMBS
securities," S&P said.

"We subjected the capital structure to a cash flow analysis based
on the updated methodology and assumptions as outlined by our
criteria, to determine the break-even default rate (BDR) for each
rated class of notes. At the same time, we conducted a credit
analysis based on our updated assumptions, to determine the
scenario default rate (SDR) at each rating level, which we then
compared against its respective BDR. In our analysis, we used the
reported portfolio balance that we considered to be performing,
the weighted-average spread, and the weighted-average recovery
rates that we considered to be appropriate. We incorporated
various cash flow stress scenarios using our standard default
patterns, levels, and timings for each rating category assumed
for all classes of notes, in conjunction with different interest
rate stress scenarios," S&P said.

"Part of our analysis also included a 'look-through' analysis of
the underlying U.S. RMBS securities currently held in the
Malachite portfolio, to assess the current and expected future
losses in the transaction. We then used this information to
determine the default and recovery assumptions in our analysis
of the Malachite liabilities," S&P said.

"The impact of our updated assumptions for pools of structured
finance assets has also been a factor in the rating actions.
Based on these assumptions, our analysis shows that all tranches
in the Malachite Funding transaction now face higher assumed
losses and liquidity constraints, which has led to a fall in the
BDR for each tranche. Moreover, our updated methodology has led
to a significant increase in the probabilities of default that
the transaction can expect at each rating level, resulting in
higher SDR levels than at our previous review. For example, our
analysis indicates that the SDR at the 'A+' rating level has
increased to 16.65%, from 5.47% at our previous review," S&P
said.

"The transaction incorporates specific payment mechanisms, which,
if triggered, would imply that the super senior notes would rank
purely sequentially to the junior senior notes in payments of
principal of the outstanding liabilities. Otherwise, principal
payments on the notes rank pro rata among the super senior notes
and the junior senior notes, with the highest-ranking junior
senior class outstanding receiving cash flows from the underlying
portfolio to repay the outstanding principal on this class of
notes, S&P said.

                          RATING ACTIONS

"We have received confirmation from HSBC that the junior senior
Series 2010-1 Tier 4 notes were repaid principal in full in
February 2012. We have therefore withdrawn our rating on these
notes," S&P said.

"In our view, the credit deterioration witnessed in the
underlying portfolio, combined with our updated assumptions, has
meant that the remaining super senior and all other junior senior
notes issued by Malachite Funding are unable to maintain their
current rating levels. Therefore, we have lowered our ratings on
these notes to levels that we consider commensurate with current
credit enhancement levels," S&P said.

"As part of our analysis, we tested the transaction's capital
structure against the largest obligor and industry default test
(the 'supplemental stress tests'), which we have introduced as
part of our updated criteria. Our evaluation of the results
indicates that the ratings on several classes of the junior
senior notes would be constrained at a lower level than 's
ratings in a scenario that considered our 'look-through' analysis
on the U.S. RMBS securities. In our view, the results of our cash
flow and credit analysis to a large extent incorporate such an
event risk occurring, and so we have lowered our ratings on these
notes to levels that are commensurate with the results of our
cash flow analysis," S&P said.

"We have affirmed our 'CCC- (sf)' ratings on the Tier 1 and Tier
2 income notes, because our analysis indicates that these
tranches are unable to withstand our credit and cash flow
stresses at any higher level than their current ratings," S&P
said.

         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

Malachite Funding Ltd.

RATINGS LOWERED

EUR400,200,000
Super Senior
                  AA- (sf)          AAA (sf)

GBP338,000,000
Super Senior
                  AA- (sf)          AAA (sf)

US$2,472,669,352.11
Super Senior
                  AA- (sf)          AAA (sf)

JPY615,000,000
Super Senior
                  AA- (sf)          AAA (sf)

US$165 Million
Junior Senior Series
2010-2 Tranche 1 Tier 6
                  AA- (sf)          AAA (sf)

US$165 Million
Junior Senior Series
2010-3 Tranche 1 Tier 8
                  AA- (sf)          AAA (sf)

US$110 Million
Junior Senior Series
2010-4 Tranche 1 Tier 10
                  A+ (sf)           AA+ (sf)

US$72 Million
Junior Senior Series
2010-5 Tranche 1 Tier 12
                  A- (sf)           AA+ (sf)

GBP39 Million
Junior Senior
2010-6 Tranche 1 Tier 14
                  BBB+ (sf)         AA (sf)

EUR40 Million
Junior Senior 2010-7
Tranche 1 Tier 16
                  BBB+ (sf)         A+ (sf)

US$75 Million
Junior Senior 2010-8 Tranche 1 Tier 18
                  BB+ (sf)          A (sf)

US$70 Million
Junior Senior 2010-9
Tranche 1 Tier 20
                  BB (sf)           BBB+ (sf)

US$55 Million
Junior Senior 2010-10
Tranche 1 Tier 22
                  B+ (sf)           BB+ (sf)

US$50 Million
Junior Senior 2010-11
Tranche 1 Tier 24
                  CCC- (sf)         BB+ (sf)

RATINGS AFFIRMED

EUR22.68 Million
Tier 1 Income Notes
                  CCC- (sf)

EUR12.60 Million
Tier 1 Income Notes
                  CCC- (sf)

EUR27.3 Million
Tier 1 Income Notes
                  CCC- (sf)

EUR4.2 Million
Tier 1 Income Notes
                  CCC- (sf)

EUR8.4 Million
Tier 1 Income Notes
                  CCC- (sf)

GBP2.916 Million
Tier 1 Income Notes
                  CCC- (sf)

JPY345.6 Million
Tier 1 Income Notes
                  CCC- (sf)

US$33.906 Million
Tier 1 Income Notes
                  CCC- (sf)

US$12.714 Million
Tier 1 Income Notes
                  CCC- (sf)

US$16.80 Million
Tier 1 Income Notes
                  CCC- (sf)

US$21 Million
Tier 1 Income Notes
                  CCC- (sf)

US$8.4 Million
Tier 1 Income Notes
                  CCC- (sf)

US$5.880 Tier 1 Income Notes
                  CCC- (sf)

US$8.476 Million
Tier 1 Income Notes
                  CCC- (sf)

JPY705.5 Million
tier 1 Income Notes
                  CCC- (sf)

US$47.8 Million
tier 1 Income Notes
                  CCC- (sf)

US$11.760 Million
Tier 1 Income Notes
                  CCC- (sf)

EUR6.783 Tier 1
Income Notes
                  CCC- (sf)

EUR14.320 Million
Tier 2 Income Notes
                  CCC- (sf)

GBP3.496 Million
Tier 2 Income Notes
                  CCC- (sf)

JPY173.100 Million
Tier 2 Income Notes
                  CCC- (sf)

US$30.158 Million
Tier 2 Income Notes
                  CCC- (sf)

EUR1.612 Million
Tier 2 Income Notes
                  CCC- (sf)

RATING WITHDRAWN

US$150.47 Million
Junior Senior Series
2010-1 Tranche 1 Tier 4
                  NR                AAA (sf)

NR-Not rated.


RANGERS FOOTBALL: Transfer Embargo Legal Proceedings Begin
----------------------------------------------------------
The Telegraph reports that Rangers has taken their battle against
a 12-month transfer embargo to the law courts.

Administrators Duff and Phelps announced that legal proceedings
had begun against the Scottish Football Association in the Court
of Session in Edinburgh, the Telegraph relates.

According to the Telegraph, in a statement, joint-administrator
Paul Clark said: "The club started proceedings at the Court of
Session [on May 25] in an attempt to challenge the imposition by
an SFA judicial panel of a player signing embargo.

"The process will continue at the court on Tuesday and it is the
club's position that the judicial panel did not have the powers
to impose such a sanction.

"The club and the administrators are grateful for the support of
the Rangers Fighting Fund on this matter."

The club's argument centers on the fact that the punishment,
specifically a ban on registering players aged over 17, is not
explicitly laid out in the SFA rules and so they claim it was not
available to the panel, the Telegraph notes.

Rangers lost an SFA appeal against the punishment, which was
handed down over their failure to pay GBP13 million in tax last
season, the Telegraph recounts.

Charles Green, the former Sheffield United chief executive at the
head of the consortium that has agreed to purchase the club,
previously backed the administrators in their attempts to
challenge the ban, the Telegraph notes.

The club's challenge, led by Richard Keen QC, is being paid for
by the Rangers Fans Fighting Fund, which was formed to enable
supporters to help the club through administration, the Telegraph
discloses.

Mr. Green signed a contract putting his group in an exclusive
position to buy the club almost two weeks ago but plans to send a
Company Voluntary Arrangement proposal to creditors last Monday
did not materialize and administrators revised their target to
some time this week, the Telegraph relates.

According to the Telegraph, creditors would have two weeks before
voting on any offer and, if a CVA is approved, there is a 28-day
cooling-off period before the club would be able to come out of
administration.

                  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.


RMAC 2005-NS1: S&P Lowers Rating on Class B1 Notes 'B+'
-------------------------------------------------------
Standard & Poor's Ratings Services lowered and removed from
CreditWatch negative its credit ratings on RMAC 2005-NS1 PLC's
class M1, M2, and B1 notes. "Our ratings on the class A2a and
A2c notes are no longer on CreditWatch negative for credit and
cash flow reasons, but remain on CreditWatch negative for
counterparty reasons," S&P said.

"The rating actions follow our assessment of the most recent
transaction information that we have received (dated December
2011), and the application of our 2011 U.K. residential mortgage-
backed securities (RMBS) criteria," S&P said.

"On Dec. 12, 2011, we placed our ratings on all of the classes of
notes in this transaction on CreditWatch negative, due to our
U.K. RMBS criteria. On Feb. 7, 2012, we again placed our ratings
on the class A2a, A2c and M1 notes on CreditWatch negative for
counterparty reasons, following the expiry of their remedy
period," S&P said.

"Following our review, we have lowered and removed from
CreditWatch negative our ratings on the class M1, M2, and B1
notes as a result of the application of our 2011 U.K. RMBS
criteria. The application of these criteria has increased the
required level of credit enhancement for all rating levels. The
class M1 notes are also no longer on CreditWatch negative for
counterparty reasons because the rating on this class of notes is
lower than the rating on the lowest-rated counterparty in the
transaction," S&P said.

"Our 'AA- (sf)' ratings on the class A2a and A2c notes are no
longer on CreditWatch negative for credit and cash flow reasons.
However, they remain on CreditWatch negative for counterparty
reasons, following the expiry of their remedy period," S&P said.

"The 30+ day arrears bucket for this transaction has decreased to
28.56% in December 2011, since it peaked at 36.77% in March 2009.
The 90+ day arrears bucket remains the largest portion of
arrears. The pool has performed in line with other comparable
transactions that we rate, and that we list in our quarterly U.K.
nonconforming RMBS index report," S&P said.

"In light of weak economic conditions, the portfolio's highly
seasoned assets, and its arrears performance, we consider that
the overall performance of this pool is likely to remain stable.
Because the pool comprises nonconforming borrowers, we would
expect the borrowers to be adversely affected if economic
conditions were to deteriorate further, which would weaken pool
performance," S&P said.

"Our credit stability analysis indicates that the maximum
projected deterioration that we would expect at each rating level
for time horizons of one year and three years under moderate
stress conditions, are in line with our credit stability
criteria," S&P said.

RMAC 2005-NS1 is a U.K. nonconforming RMBS transaction, which
closed in March 2005. GMAC Residential Funding Co. is the
originator of the loans.

             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

RMAC 2005-NS1 PLC
EUR526.4 Million, GBP250 Million, and US$267.7 Million Mortgage-
Backed Floating-Rate Notes

Ratings Lowered and Removed From CreditWatch Negative

M1          A (sf)                 AA- (sf)/Watch Neg
M2          BBB- (sf)              BBB (sf)/Watch Neg
B1          B+ (sf)                BB (sf)/Watch Neg

Ratings Remaining on CreditWatch Negative[1]

A2a         AA- (sf)/Watch Neg     AA- (sf)/Watch Neg
A2c         AA- (sf)/Watch Neg     AA- (sf)/Watch Neg

[1]"Our ratings on these classes of notes are on CreditWatch
negative for counterparty reasons, but are no longer on
CreditWatch for credit and cash flow reasons," S&P said.


STARLIGHT INVESTMENT: UK Proceeding Recognized by U.S. Court
------------------------------------------------------------
The Hon. Stuart M. Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York recognized Starlight Investments
Limited's Chapter 15 case as a foreign main proceeding pursuant
to Sections 1517(a) and (b)(1) of the Bankruptcy Code.  The UK
Proceeding is pending in the London, England.

The Joint Liquidators are responsible for administering the
liquidation of the Debtor and been authorized to serve as the
foreign representative with respect to the UK Proceeding within
the meaning of Section 101(24) of the Bankruptcy Code.

Starlight Investments is a company registered in the England and
Wales.  On July 15, 2008, James J. (Shay) Bannon, Mark J. Shaw
and Toby S. Underwood were appointed as joint administrative
receivers of Starlight Investments by Norwich Union Mortgage
Finance Limited, pursuant to a deed of legal charge between
Starlight Investments and Norwich, dated Aug. 30, 2002.  Norwich
officially changed its name to Aviva Commercial Finance Limited
by its shareholders passing a special resolution (75% majority)
pursuant to section 28 of the Companies Act of 1985, a UK
statute.  On Dec. 30, 2010, Toby S. Underwood ceased to act as an
administrative receiver of Starlight Investments, leaving James
J. (Shay) Bannon and Mark J. Shaw as the joint administrative
receivers of Starlight Investments.  The Receivership Appointment
coincided with enforcement action being taken by Norwich in
relation to Starlight Investments' group.

On April 30, 2009, Starlight Investments was placed into
creditors' voluntary liquidation by a special resolution (75%
majority) of Starlight Investments' shareholders under section
378(2) of the Companies Act and section 84(1)(b) of the
Insolvency Act of 1986, and the Petitioners were appointed as
Joint Liquidators following resolutions of the Debtor's
shareholders, under section 100 of the Insolvency Act, and of the
Debtors' creditors, under section 98 of the Insolvency Act.

The Joint Liquidators have filed a notice of appointment of
liquidator with the Registrar of Companies for England and Wales,
pursuant to section 109(1) of the Insolvency Act.

The Liquidators of Starlight Investments filed a Chapter 15
petition (Bankr. S.D.N.Y. Case No. 12-11566) on April 16, 2012,
seeking recognition of the UK Proceeding as a "foreign main
proceeding" as defined in Bankruptcy Code section 1502(4) and
seeking other necessary relief in support of the UK Proceeding.
Judge Stuart M. Bernstein presides over the Chapter 15 case.
Timothy W. Walsh, Esq., at DLA Piper LLP (US), in New York,
serves as counsel of the foreign representative.  The Debtor is
estimated to have assets of US$100 million to US$500 million and
debts of US$500 million to US$1 billion.

The Stock is among the Debtor's last remaining property to be
liquidated in connection with the UK Proceeding.  The Stock
consists of 200,000 shares of Modigene common stock, a warrant to
purchase 50,000 shares of Modigene common stock, 200,000 shares
of WaferGen common stock and a warrant to purchase 60,000 share
of WaferGen common stock.  Shares of Modigene trade publicly on
the American Stock Exchange under the symbol PBTH and shares of
WaferGen trade publicly on the Over-the-Counter Bulletin Board
under the symbol WGBS.

As required by section 4(2) of the Securities Act of 1933, as
amended, 15 U.S.C. Sections 77a et seq., the Modigene Stock was
issued to the Debtor in a private placement transaction, pursuant
to a subscription agreement entered into between the Debtor and
Modigene, dated May 30, 2007.  The WaferGen Stock was issued to
the Debtor in a private placement transaction, also in compliance
with section 4(2) of the Securities Act, pursuant to a
subscription agreement entered into between the Debtor and
WaferGen, dated May 30, 2007.

The Stock has been held exclusively by the Debtor in the United
Kingdom since May 30, 2007.


TRENT DESIGN: Failed Acquisition Prompts Liquidation
----------------------------------------------------
The Construction Index reports that Trent Design & Storage has
gone into liquidation, on the back of an unsuccessful
acquisition.

The report says Derby-based Cirrus Professional Services were
appointed liquidators on May 11. Creditors should contact Simon
Gwinnutt.

According to the report, the company has GBP912,000 of unsecured
creditors, of whom the biggest is managing director David Camm,
with GBP180,000. HMRC accounts for GBP89,000.

The book value of its assets is estimated at GBP697,000, but they
are expected to realise just GBP16,000.

The Construction Index notes that Trent was established nearly 20
years ago, and had traded profitably for most of its existence.

In August 2011, the report recalls, it acquired Peterborough-
based Astore Harrison for GBP650,000, financed by a loan and a
CID (confidential invoice discounting) facility based on expected
future orders.

However, orders from Astore did not materialise in the volumes
expected. As a result, the report relates, the bank which had
arranged the CID froze Trent's account, and took all of the
firm's remaining cash.

Trent was left with no money to pay suppliers, and with its bank
refusing to grant a loan or extend its overdraft, the company
found it impossible to carry on trading.  On April 26, the
directors decided to liquidate the company.

"The directors attribute the failure of Trent to the purchase of
its subsidiary," the report quotes Mr. Gwinutt as saying.

Nottingham-based Trent Design & Storage specialised in
shopfitting, interiors and also provided storage services.



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


* BOND PRICING: For the Week May 21 to May 25, 2012
---------------------------------------------------


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

AUSTRIA
-------
A-TEC INDUSTRIES        2.750   5/10/2014     EUR    29.50
A-TEC INDUSTRIES        8.750  10/27/2014     EUR    29.50
A-TEC INDUSTRIES        5.750   11/2/2010     EUR    29.50
BA CREDITANSTALT        5.470   8/28/2013     EUR    68.88
HAA-BANK INTL AG        5.270    4/7/2028     EUR    74.54
IMMOFINANZ              4.250    3/8/2018     EUR     3.68
KOMMUNALKREDIT          4.900   6/23/2031     EUR    65.00
KOMMUNALKREDIT          4.440  12/20/2030     EUR    61.13
OESTER VOLKSBK          4.170   7/29/2015     EUR    65.38
OESTER VOLKSBK          4.160   5/20/2025     EUR    73.06
OESTER VOLKSBK          5.270    2/8/2027     EUR    69.44
OESTER VOLKSBK          4.810   7/29/2025     EUR    60.25
RAIFF CENTROBANK        9.558   1/23/2013     EUR    63.24
RAIFF CENTROBANK        8.283   1/23/2013     EUR    66.65
RAIFF CENTROBANK        7.965   1/23/2013     EUR    74.34
RAIFF CENTROBANK        7.965   1/23/2013     EUR    64.47
RAIFF CENTROBANK        7.646   1/23/2013     EUR    61.75
RAIFF CENTROBANK       11.718   7/25/2012     EUR    26.19
RAIFF CENTROBANK       11.718   7/25/2012     EUR    52.33
RAIFF CENTROBANK       10.090   7/25/2012     EUR    63.73
RAIFF CENTROBANK        9.114   7/25/2012     EUR    48.54
RAIFF CENTROBANK       10.090   7/25/2012     EUR    58.80
RAIFF CENTROBANK       11.000   5/24/2012     EUR    63.35
RAIFF CENTROBANK        9.114   7/25/2012     EUR    74.58
RAIFF CENTROBANK        6.835   7/20/2012     EUR    74.11
RAIFF CENTROBANK       11.000   5/24/2012     EUR    59.89
RAIFF CENTROBANK        7.812   7/20/2012     EUR    55.95
RAIFF CENTROBANK        7.161   7/20/2012     EUR    62.49
RAIFF CENTROBANK        8.463   7/25/2012     EUR    60.16
RAIFF CENTROBANK       10.416   7/20/2012     EUR    43.96
RAIFF CENTROBANK        5.208   7/25/2012     EUR    69.62
RAIFF CENTROBANK        5.208   7/25/2012     EUR    73.30
RAIFF CENTROBANK        7.161   7/25/2012     EUR    64.63
RAIFF CENTROBANK        5.208   7/25/2012     EUR    62.77
RAIFF CENTROBANK        7.812   7/25/2012     EUR    49.15
RAIFF CENTROBANK        9.876   1/23/2013     EUR    47.46
RAIFF CENTROBANK        7.812   7/25/2012     EUR    67.10
RAIFF ZENTRALBK         4.500   9/28/2035     EUR    62.75

BELGIUM
-------
ECONOCOM GROUP          4.000    6/1/2016     EUR    21.56
IDEAL STANDARD I       11.750    5/1/2018     EUR    54.00
IDEAL STANDARD I       11.750    5/1/2018     EUR    53.50

CYPRUS
------
CYPRUS GOVT BOND        4.500   9/28/2017     EUR    61.63
CYPRUS GOVT BOND        4.500    4/2/2017     EUR    63.13
CYPRUS GOVT BOND        4.600   4/23/2018     EUR    60.75
CYPRUS GOVT BOND        4.600  10/23/2018     EUR    59.88
CYPRUS GOVT BOND        4.600   2/26/2019     EUR    59.50
CYPRUS GOVT BOND        6.100   6/24/2019     EUR    65.38
CYPRUS GOVT BOND        5.100   1/29/2018     EUR    63.00
CYPRUS GOVT BOND        6.100   4/20/2020     EUR    64.38
CYPRUS GOVT BOND        5.350    6/9/2020     EUR    60.75
CYPRUS GOVT BOND        6.000    6/9/2021     EUR    60.63
CYPRUS GOVT BOND        6.500   8/25/2021     EUR    61.75
CYPRUS GOVT BOND        4.750   12/2/2015     EUR    69.75
CYPRUS GOVT BOND        4.500    1/2/2016     EUR    68.50
CYPRUS GOVT BOND        4.500   3/30/2016     EUR    67.25
CYPRUS GOVT BOND        4.500    6/2/2016     EUR    66.75
CYPRUS GOVT BOND        5.000    6/9/2016     EUR    69.63
CYPRUS GOVT BOND        4.500   7/11/2016     EUR    65.88
CYPRUS GOVT BOND        4.500   10/9/2016     EUR    65.00
CYPRUS GOVT BOND        6.600  10/26/2016     EUR    71.13
CYPRUS GOVT BOND        4.500    1/4/2017     EUR    64.00
CYPRUS GOVT BOND        4.500   2/15/2017     EUR    63.50
CYPRUS GOVT BOND        5.600   4/15/2017     EUR    69.07
CYPRUS GOVT BOND        4.625    2/3/2020     EUR    57.07
CYPRUS GOVT BOND        5.250    6/9/2015     EUR    73.75
CYPRUS GOVT BOND        4.750   9/30/2015     EUR    70.50
CYPRUS GOVT BOND        3.750   11/1/2015     EUR    68.00
REP OF CYPRUS           4.750   2/25/2016     EUR    57.85
REP OF CYPRUS           4.375   7/15/2014     EUR    70.53

CZECH REPUBLIC
--------------
SAZKA                   9.000   7/12/2021     EUR    35.00

DENMARK
-------
KALMAR STRUCTRD         7.500   9/30/2013     EUR     0.01
KOMMUNEKREDIT           0.500   2/23/2017     ZAR    73.03
KOMMUNEKREDIT           0.500  12/14/2020     ZAR    52.22
KOMMUNEKREDIT           0.500   1/25/2017     ZAR    73.52
VESTAS WIND SYST        4.625   3/23/2015     EUR    64.00

FINLAND
-------
MUNI FINANCE PLC        0.500  11/25/2020     ZAR    50.62
MUNI FINANCE PLC        0.500  11/10/2021     NZD    66.71
MUNI FINANCE PLC        0.500  12/20/2018     ZAR    58.33
MUNI FINANCE PLC        0.500   4/26/2017     ZAR    71.24
MUNI FINANCE PLC        0.500  11/21/2018     ZAR    61.40
MUNI FINANCE PLC        0.500  11/21/2018     TRY    64.54
MUNI FINANCE PLC        0.500   4/27/2018     ZAR    62.41
MUNI FINANCE PLC        0.500  12/14/2018     TRY    64.30
MUNI FINANCE PLC        0.500  12/21/2021     NZD    66.40
MUNI FINANCE PLC        0.500   4/26/2022     ZAR    47.01
MUNI FINANCE PLC        0.500   5/31/2022     ZAR    43.60
MUNI FINANCE PLC        0.500   3/17/2025     CAD    55.45
MUNI FINANCE PLC        0.250   6/28/2040     CAD    23.87
MUNI FINANCE PLC        0.500   3/16/2017     BRL    71.39
MUNI FINANCE PLC        0.500   2/17/2017     BRL    71.82
MUNI FINANCE PLC        0.500   2/16/2017     TRY    72.26
MUNI FINANCE PLC        0.500  12/21/2016     TRY    72.54
MUNI FINANCE PLC        1.000   6/30/2017     ZAR    69.77
MUNI FINANCE PLC        0.500  11/16/2017     TRY    68.54
MUNI FINANCE PLC        0.500   3/28/2018     BRL    65.78
MUNI FINANCE PLC        0.500   12/6/2016     TRY    72.81
MUNI FINANCE PLC        0.500  11/30/2016     BRL    72.96
MUNI FINANCE PLC        0.500  11/17/2016     BRL    73.16
MUNI FINANCE PLC        0.500  11/17/2016     ZAR    73.96
MUNI FINANCE PLC        0.500   4/26/2016     ZAR    76.90
MUNI FINANCE PLC        0.500  10/27/2016     ZAR    74.39
MUNI FINANCE PLC        0.500  10/27/2016     BRL    73.04
MUNI FINANCE PLC        0.500  10/27/2016     TRY    73.21
NOKIA CORP              6.625   5/15/2039     USD    76.25

FRANCE
------
AIR FRANCE-KLM          4.970    4/1/2015     EUR    10.64
ALCATEL-LUCENT          5.000    1/1/2015     EUR     2.77
ALTRAN TECHNOLOG        6.720    1/1/2015     EUR     4.82
ASSYSTEM                4.000    1/1/2017     EUR    21.98
ATOS ORIGIN SA          2.500    1/1/2016     EUR    53.83
AXA SA                  5.250   4/16/2040     EUR    75.28
CAISSE CENT IMMO        7.000   5/16/2014     EUR    35.05
CAISSE CENT IMMO        7.000   9/10/2015     EUR    13.60
CAISSE CENT IMMO        7.000   5/18/2015     EUR    10.73
CALYON                  6.000   6/18/2047     EUR    27.55
CAP GEMINI SOGET        3.500    1/1/2014     EUR    37.50
CGG VERITAS             1.750    1/1/2016     EUR    27.54
CLUB MEDITERRANE        5.000    6/8/2012     EUR    14.01
CLUB MEDITERRANE        6.110   11/1/2015     EUR    17.96
CMA CGM                 8.500   4/15/2017     USD    56.67
CMA CGM                 8.500   4/15/2017     USD    64.75
CMA CGM                 8.875   4/15/2019     EUR    55.82
CMA CGM                 8.875   4/15/2019     EUR    56.17
CNP ASSURANCES          6.875   9/30/2041     EUR    69.52
CNP ASSURANCES          6.000   9/14/2040     EUR    68.77
CNP ASSURANCES          7.375   9/30/2041     GBP    73.70
CRED AGRICOLE SA        3.900   4/19/2021     EUR    72.99
CRED AGRICOLE SA        4.000   9/30/2022     EUR    69.79
CREDIT LOCAL FRA        3.750   5/26/2020     EUR    47.67
DEXIA CRED LOCAL        4.500   2/25/2020     EUR    51.88
DEXIA CRED LOCAL        4.110   9/18/2018     EUR    56.51
DEXIA CRED LOCAL        4.375   2/12/2019     EUR    51.19
DEXIA CRED LOCAL        4.020   3/13/2017     EUR    65.17
DEXIA CRED LOCAL        4.550    4/2/2020     EUR    51.84
DEXIA CRED LOCAL        5.037    8/4/2020     EUR    52.81
DEXIA MUNI AGNCY        1.000  12/23/2024     EUR    70.70
EURAZEO                 6.250   6/10/2014     EUR    58.51
EUROPCAR GROUPE         9.375   4/15/2018     EUR    64.50
EUROPCAR GROUPE         9.375   4/15/2018     EUR    64.83
FAURECIA                4.500    1/1/2015     EUR    19.92
GROUPAMA SA             7.875  10/27/2039     EUR    51.44
GROUPE VIAL             2.500    1/1/2014     EUR     2.15
INGENICO                2.750    1/1/2017     EUR    44.08
MAUREL ET PROM          7.125   7/31/2014     EUR    17.66
MAUREL ET PROM          7.125   7/31/2015     EUR    15.85
NEXANS SA               4.000    1/1/2016     EUR    53.32
NEXANS SA               2.500    1/1/2019     EUR    62.11
NOVASEP HLDG            9.750  12/15/2016     USD    49.50
NOVASEP HLDG            9.750  12/15/2016     USD    49.50
NOVASEP HLDG            9.625  12/15/2016     EUR    49.13
NOVASEP HLDG            9.625  12/15/2016     EUR    49.13
ORPEA                   3.875    1/1/2016     EUR    44.12
PAGESJAUNES FINA        8.875    6/1/2018     EUR    73.33
PAGESJAUNES FINA        8.875    6/1/2018     EUR    73.22
PEUGEOT SA              4.450    1/1/2016     EUR    24.13
PIERRE VACANCES         4.000   10/1/2015     EUR    73.45
PUBLICIS GROUPE         1.000   1/18/2018     EUR    51.14
PUBLICIS GROUPE         3.125   7/30/2014     EUR    36.66
SOC AIR FRANCE          2.750    4/1/2020     EUR    20.44
SOCIETE GENERALE        0.500   12/6/2021     AUD    50.48
SOCIETE GENERALE        0.500    9/7/2021     AUD    51.42
SOITEC                  6.250    9/9/2014     EUR     8.06
TEM                     4.250    1/1/2015     EUR    52.89

GERMANY
-------
BAYERISCHE LNDBK        6.100   6/15/2012     EUR    32.83
BAYERISCHE LNDBK        5.800   7/13/2012     EUR    46.92
BAYERISCHE LNDBK        3.200   10/1/2012     EUR    27.35
BAYERISCHE LNDBK        5.100   6/29/2012     EUR    50.91
BAYERISCHE LNDBK        5.500   6/29/2012     EUR    50.63
BHF-BANK AG            13.200    6/8/2012     EUR    39.33
BHF-BANK AG             7.250   6/15/2012     EUR    55.19
BHW BAUSPARKASSE        4.270   1/15/2019     EUR    73.75
BNP EMIS-U.HANDE        7.000   5/24/2012     EUR    37.18
BNP EMIS-U.HANDE        6.500   6/21/2012     EUR    70.82
BNP EMIS-U.HANDE        6.750   6/21/2012     EUR    55.89
BNP EMIS-U.HANDE        7.000   6/21/2012     EUR    71.56
BNP EMIS-U.HANDE        7.000   6/21/2012     EUR    62.62
BNP EMIS-U.HANDE        7.250   6/21/2012     EUR    60.82
BNP EMIS-U.HANDE        7.250   6/21/2012     EUR    73.82
BNP EMIS-U.HANDE        7.500   6/21/2012     EUR    52.13
BNP EMIS-U.HANDE        7.500   6/21/2012     EUR    68.76
BNP EMIS-U.HANDE        7.750   6/21/2012     EUR    65.99
BNP EMIS-U.HANDE        7.750   6/21/2012     EUR    66.71
BNP EMIS-U.HANDE        7.750   6/21/2012     EUR    52.21
BNP EMIS-U.HANDE        8.250   6/21/2012     EUR    62.44
BNP EMIS-U.HANDE        8.250   6/21/2012     EUR    56.44
BNP EMIS-U.HANDE        8.250   6/21/2012     EUR    66.31
BNP EMIS-U.HANDE        8.250   6/21/2012     EUR    68.13
BNP EMIS-U.HANDE        8.500   6/21/2012     EUR    72.59
BNP EMIS-U.HANDE        8.500   6/21/2012     EUR    62.79
BNP EMIS-U.HANDE        8.500   6/21/2012     EUR    73.90
BNP EMIS-U.HANDE        8.500   6/21/2012     EUR    64.50
BNP EMIS-U.HANDE        8.500   6/21/2012     EUR    59.28
BNP EMIS-U.HANDE        8.500   6/21/2012     EUR    64.26
BNP EMIS-U.HANDE        9.000   6/21/2012     EUR    62.78
BNP EMIS-U.HANDE        9.250   6/21/2012     EUR    37.06
BNP EMIS-U.HANDE        9.250   6/21/2012     EUR    48.60
BNP EMIS-U.HANDE        9.250   6/21/2012     EUR    66.49
BNP EMIS-U.HANDE        9.500   6/21/2012     EUR    48.45
BNP EMIS-U.HANDE        9.500   6/21/2012     EUR    70.33
BNP EMIS-U.HANDE        9.500   6/21/2012     EUR    68.89
BNP EMIS-U.HANDE        9.750   6/21/2012     EUR    72.53
BNP EMIS-U.HANDE        9.750   6/21/2012     EUR    71.76
BNP EMIS-U.HANDE       10.000   6/21/2012     EUR    50.40
BNP EMIS-U.HANDE       10.250   6/21/2012     EUR    47.48
BNP EMIS-U.HANDE       10.250   6/21/2012     EUR    52.95
BNP EMIS-U.HANDE       10.500   6/21/2012     EUR    39.87
BNP EMIS-U.HANDE       10.500   6/21/2012     EUR    41.22
BNP EMIS-U.HANDE       10.500   6/21/2012     EUR    63.49
BNP EMIS-U.HANDE       11.000   6/21/2012     EUR    33.96
BNP EMIS-U.HANDE       11.000   6/21/2012     EUR    56.69
BNP EMIS-U.HANDE       11.250   6/21/2012     EUR    68.78
BNP EMIS-U.HANDE       11.500   6/21/2012     EUR    72.72
BNP EMIS-U.HANDE       11.500   6/21/2012     EUR    41.30
BNP EMIS-U.HANDE       11.750   6/21/2012     EUR    30.92
BNP EMIS-U.HANDE       11.750   6/21/2012     EUR    61.55
BNP EMIS-U.HANDE       12.000   6/21/2012     EUR    66.60
BNP EMIS-U.HANDE       13.500   6/21/2012     EUR    40.70
BNP EMIS-U.HANDE       13.750   6/21/2012     EUR    41.94
BNP EMIS-U.HANDE       14.250   6/21/2012     EUR    31.94
BNP EMIS-U.HANDE       15.000   6/21/2012     EUR    52.90
BNP EMIS-U.HANDE       15.500   6/21/2012     EUR    17.76
BNP EMIS-U.HANDE       16.000   6/21/2012     EUR    16.03
BNP EMIS-U.HANDE       18.250   6/21/2012     EUR     6.26
BNP EMIS-U.HANDE       19.250   6/21/2012     EUR     8.31
BNP EMIS-U.HANDE        5.000   7/26/2012     EUR    72.84
BNP EMIS-U.HANDE        6.000   7/26/2012     EUR    34.23
BNP EMIS-U.HANDE        6.000   7/26/2012     EUR    69.36
BNP EMIS-U.HANDE        6.000   7/26/2012     EUR    67.42
BNP EMIS-U.HANDE        6.000   7/26/2012     EUR    37.40
BNP EMIS-U.HANDE        6.000   7/26/2012     EUR    55.29
BNP EMIS-U.HANDE        6.000   7/26/2012     EUR    36.98
BNP EMIS-U.HANDE        6.500   7/26/2012     EUR    43.95
BNP EMIS-U.HANDE        6.500   7/26/2012     EUR    69.25
BNP EMIS-U.HANDE        7.000   7/26/2012     EUR    26.24
BNP EMIS-U.HANDE        7.000   7/26/2012     EUR    46.56
BNP EMIS-U.HANDE        7.000   7/26/2012     EUR    59.25
BNP EMIS-U.HANDE        7.000   7/26/2012     EUR    21.90
BNP EMIS-U.HANDE        8.000   7/26/2012     EUR    70.28
BNP EMIS-U.HANDE        8.000   7/26/2012     EUR    71.90
BNP EMIS-U.HANDE        8.000   7/26/2012     EUR    47.40
BNP EMIS-U.HANDE        8.000   7/26/2012     EUR    64.82
BNP EMIS-U.HANDE        8.000   7/26/2012     EUR    34.83
BNP EMIS-U.HANDE        8.000   7/26/2012     EUR    71.54
BNP EMIS-U.HANDE        8.500   7/26/2012     EUR    65.20
BNP EMIS-U.HANDE        9.000   7/26/2012     EUR    30.34
BNP EMIS-U.HANDE        9.000   7/26/2012     EUR    50.47
BNP EMIS-U.HANDE        9.000   7/26/2012     EUR    32.95
BNP EMIS-U.HANDE        9.000   7/26/2012     EUR    47.75
BNP EMIS-U.HANDE        9.000   7/26/2012     EUR    45.74
BNP EMIS-U.HANDE        9.000   7/26/2012     EUR    60.57
BNP EMIS-U.HANDE        9.000   7/26/2012     EUR    70.71
BNP EMIS-U.HANDE       10.000   7/26/2012     EUR    36.98
BNP EMIS-U.HANDE       10.000   7/26/2012     EUR    42.78
BNP EMIS-U.HANDE       10.000   7/26/2012     EUR    52.70
BNP EMIS-U.HANDE        8.500  12/28/2012     EUR    62.75
BNP EMIS-U.HANDE        9.750  12/28/2012     EUR    65.64
BNP EMIS-U.HANDE       10.500  12/28/2012     EUR    54.02
BNP EMIS-U.HANDE        7.750  12/31/2012     EUR    54.92
BNP EMIS-U.HANDE        9.500  12/31/2012     EUR    65.62
BNP EMIS-U.HANDE        9.500  12/31/2012     EUR    73.60
BNP EMIS-U.HANDE        5.250   5/24/2012     EUR    55.92
COMMERZBANK AG         10.000   10/1/2012     EUR    66.24
COMMERZBANK AG          9.000   10/1/2012     EUR    52.59
COMMERZBANK AG          8.250   10/1/2012     EUR    66.37
COMMERZBANK AG          7.700   9/28/2012     EUR    49.60
COMMERZBANK AG          9.000    8/3/2012     EUR    61.65
COMMERZBANK AG          8.500    8/3/2012     EUR    47.91
COMMERZBANK AG         12.000    7/6/2012     EUR    69.81
COMMERZBANK AG         11.500    7/6/2012     EUR    73.72
COMMERZBANK AG         11.500    7/6/2012     EUR     5.98
COMMERZBANK AG         10.500    7/6/2012     EUR    51.82
COMMERZBANK AG          8.250    7/6/2012     EUR    68.91
COMMERZBANK AG          9.000  10/29/2012     EUR     8.24
COMMERZBANK AG         25.000   6/22/2012     EUR    61.20
COMMERZBANK AG         19.500   6/22/2012     EUR    67.26
COMMERZBANK AG         16.000   6/22/2012     EUR    47.88
COMMERZBANK AG         16.000   6/22/2012     EUR    73.86
COMMERZBANK AG         12.500   6/22/2012     EUR    72.24
COMMERZBANK AG         11.500   6/22/2012     EUR    45.56
COMMERZBANK AG          8.000   6/22/2012     EUR    47.97
COMMERZBANK AG          8.000   6/22/2012     EUR    59.74
COMMERZBANK AG         23.000   6/21/2012     EUR    68.59
COMMERZBANK AG         18.000   6/21/2012     EUR    68.99
COMMERZBANK AG          8.750   6/21/2012     EUR    52.68
COMMERZBANK AG          9.000    6/4/2012     EUR    68.36
COMMERZBANK AG         10.750   3/21/2013     EUR    74.36
COMMERZBANK AG         13.500  12/28/2012     EUR    73.91
COMMERZBANK AG         13.000  12/28/2012     EUR    74.11
COMMERZBANK AG          8.000  12/27/2012     EUR    44.93
COMMERZBANK AG          7.000  12/27/2012     EUR    59.64
COMMERZBANK AG          6.000  12/27/2012     EUR    70.06
COMMERZBANK AG          8.000    6/4/2012     EUR    59.25
COMMERZBANK AG         10.000  10/29/2012     EUR    62.92
COMMERZBANK AG          8.000   11/5/2012     EUR    39.62
COMMERZBANK AG         10.000   11/5/2012     EUR    53.42
COMMERZBANK AG          8.500  10/29/2012     EUR    71.77
COMMERZBANK AG         11.500   11/5/2012     EUR    47.34
COMMERZBANK AG          8.500  12/17/2012     EUR    53.90
COMMERZBANK AG          8.750  12/17/2012     EUR    66.53
COMMERZBANK AG          6.460   6/24/2022     EUR    69.63
COMMERZBANK AG          6.360   3/15/2022     EUR    70.00
COMMERZBANK AG          6.300   3/15/2022     EUR    69.75
COMMERZBANK AG          8.400  12/30/2013     EUR    17.04
COMMERZBANK AG         14.000    8/5/2013     EUR    67.52
COMMERZBANK AG         18.500   3/21/2013     EUR    69.96
COMMERZBANK AG         14.500   3/21/2013     EUR    71.72
DEUTSCHE BANK AG       15.000  12/20/2012     EUR    69.30
DEUTSCHE BANK AG       12.000  12/20/2012     EUR    50.20
DEUTSCHE BANK AG       12.000  12/20/2012     EUR    72.50
DEUTSCHE BANK AG        8.000  12/20/2012     EUR    65.10
DEUTSCHE BANK AG        8.000  12/20/2012     EUR    43.50
DEUTSCHE BANK AG       12.000  11/29/2012     EUR    72.00
DEUTSCHE BANK AG        9.000  11/29/2012     EUR    72.40
DEUTSCHE BANK AG       12.000  10/31/2012     EUR    72.10
DEUTSCHE BANK AG       10.000  10/31/2012     EUR    74.50
DEUTSCHE BANK AG        8.000   5/31/2012     EUR    49.50
DEUTSCHE BANK AG       13.000   9/28/2012     EUR    73.80
DEUTSCHE BANK AG       12.000   8/31/2012     EUR    69.10
DEUTSCHE BANK AG       12.000   8/31/2012     EUR    75.00
DEUTSCHE BANK AG       12.000   8/31/2012     EUR    74.00
DEUTSCHE BANK AG        9.000   8/31/2012     EUR    70.90
DEUTSCHE BANK AG        8.000   8/31/2012     EUR    74.80
DEUTSCHE BANK AG        8.000    8/6/2012     EUR    61.60
DEUTSCHE BANK AG       13.000   7/31/2012     EUR    72.80
DEUTSCHE BANK AG       13.000   7/31/2012     EUR    69.70
DEUTSCHE BANK AG       13.000   7/31/2012     EUR    73.90
DEUTSCHE BANK AG       13.000   7/31/2012     EUR    65.40
DEUTSCHE BANK AG       10.000   7/31/2012     EUR    54.70
DEUTSCHE BANK AG       10.000   7/31/2012     EUR    49.90
DEUTSCHE BANK AG       10.000   7/31/2012     EUR    58.70
DEUTSCHE BANK AG       10.000   7/31/2012     EUR    62.70
DEUTSCHE BANK AG       10.000   7/31/2012     EUR    63.10
DEUTSCHE BANK AG        9.000   7/31/2012     EUR    70.80
DEUTSCHE BANK AG        9.000   7/31/2012     EUR    67.80
DEUTSCHE BANK AG        9.000   7/31/2012     EUR    75.00
DEUTSCHE BANK AG        8.000   7/31/2012     EUR    58.70
DEUTSCHE BANK AG        8.000   5/31/2012     EUR    51.30
DEUTSCHE BANK AG        8.000   5/31/2012     EUR    64.70
DEUTSCHE BANK AG        8.000   5/31/2012     EUR    45.90
DEUTSCHE BANK AG        8.000   5/31/2012     EUR    65.90
DEUTSCHE BANK AG       10.000   5/31/2012     EUR    61.50
DEUTSCHE BANK AG       10.000   5/31/2012     EUR    72.20
DEUTSCHE BANK AG       10.000   5/31/2012     EUR    50.40
DEUTSCHE BANK AG       10.000   5/31/2012     EUR    46.20
DEUTSCHE BANK AG       10.000   5/31/2012     EUR    63.30
DEUTSCHE BANK AG       10.000   5/31/2012     EUR    43.70
DEUTSCHE BANK AG       10.000   6/20/2012     EUR    70.30
DEUTSCHE BANK AG       14.000   6/20/2012     EUR    74.90
DEUTSCHE BANK AG       14.000   6/20/2012     EUR    59.90
DEUTSCHE BANK AG        7.000   6/29/2012     EUR    68.20
DEUTSCHE BANK AG        7.000   6/29/2012     EUR    53.50
DEUTSCHE BANK AG        7.000   6/29/2012     EUR    61.50
DEUTSCHE BANK AG        7.000   6/29/2012     EUR    58.30
DEUTSCHE BANK AG        8.000   6/29/2012     EUR    45.60
DEUTSCHE BANK AG        8.000   6/29/2012     EUR    65.50
DEUTSCHE BANK AG        8.000   6/29/2012     EUR    55.40
DEUTSCHE BANK AG        8.000   6/29/2012     EUR    59.10
DEUTSCHE BANK AG        8.000   6/29/2012     EUR    74.10
DEUTSCHE BANK AG        8.000   6/29/2012     EUR    49.90
DEUTSCHE BANK AG        8.000   7/31/2012     EUR    52.10
DEUTSCHE BANK AG        8.000   7/31/2012     EUR    64.80
DEUTSCHE BANK AG        8.000   7/31/2012     EUR    74.40
DEUTSCHE BANK AG        8.000   7/31/2012     EUR    70.40
DEUTSCHE BANK AG        8.000   7/31/2012     EUR    60.00
DEUTSCHE BANK AG        8.000   7/31/2012     EUR    65.00
DEUTSCHE BANK AG        7.000   6/29/2012     EUR    47.50
DEUTSCHE BANK AG        7.000   7/31/2012     EUR    67.80
DEUTSCHE BANK AG        7.000   7/31/2012     EUR    67.30
DEUTSCHE BANK AG        7.000   7/31/2012     EUR    61.00
DEUTSCHE BANK AG        7.000   7/31/2012     EUR    63.10
DEUTSCHE BANK AG       13.000   6/29/2012     EUR    73.30
DEUTSCHE BANK AG       10.000   6/29/2012     EUR    56.70
DEUTSCHE BANK AG       10.000   6/29/2012     EUR    72.20
DEUTSCHE BANK AG       10.000   6/29/2012     EUR    46.80
DEUTSCHE BANK AG       10.000   6/29/2012     EUR    43.70
DEUTSCHE BANK AG       10.000   6/29/2012     EUR    70.20
DEUTSCHE BANK AG       10.000   6/29/2012     EUR    71.50
DEUTSCHE BANK AG       10.000   6/29/2012     EUR    63.20
DEUTSCHE BANK AG       10.000   6/29/2012     EUR    54.00
DEUTSCHE BANK AG        7.000   7/31/2012     EUR    54.00
DEUTSCHE BANK AG        7.000   5/31/2012     EUR    54.00
DEUTSCHE BANK AG        7.000   5/31/2012     EUR    68.80
DEUTSCHE BANK AG        7.000   5/31/2012     EUR    48.00
DEUTSCHE BANK AG       15.000   2/20/2013     EUR    74.40
DEUTSCHE BANK AG       15.000   2/20/2013     EUR    73.80
DEUTSCHE BANK AG        7.000   5/31/2012     EUR    53.00
DEUTSCHE BANK AG       15.000   2/20/2013     EUR    74.90
DEUTSCHE BANK AG       15.000   2/20/2013     EUR    71.60
DEUTSCHE BANK AG       15.000   2/20/2013     EUR    73.80
DEUTSCHE BANK AG        7.000   5/31/2012     EUR    68.30
DEUTSCHE BANK AG       15.000   2/20/2013     EUR    72.80
DEUTSCHE BANK AG       15.000   2/20/2013     EUR    69.50
DEUTSCHE BANK AG       11.000   1/18/2013     EUR    73.70
DEUTSCHE BANK AG        8.000   6/29/2012     EUR    73.70
DRESDNER BANK AG        5.700   7/31/2023     EUR    61.13
DRESDNER BANK AG        5.290   5/31/2021     EUR    66.75
DRESDNER BANK AG        7.350   6/13/2028     EUR    64.50
DRESDNER BANK AG        6.180   2/28/2023     EUR    65.63
DRESDNER BANK AG        6.210   6/20/2022     EUR    68.13
DRESDNER BANK AG        7.160   8/14/2024     EUR    67.50
DZ BANK AG             12.000    1/2/2013     EUR    72.20
DZ BANK AG             17.750   8/10/2012     EUR    69.87
DZ BANK AG             16.500   8/10/2012     EUR    73.88
DZ BANK AG             14.500   8/10/2012     EUR    70.62
DZ BANK AG             10.500   8/10/2012     EUR    69.78
DZ BANK AG              9.500   8/10/2012     EUR    67.98
DZ BANK AG              5.000   8/10/2012     EUR    60.43
DZ BANK AG             12.700    8/3/2012     EUR    72.88
DZ BANK AG             12.750   7/31/2012     EUR    69.75
DZ BANK AG             15.500   7/27/2012     EUR    73.09
DZ BANK AG             15.250   7/27/2012     EUR    48.75
DZ BANK AG             15.000   7/27/2012     EUR    41.54
DZ BANK AG             14.750   7/27/2012     EUR    64.36
DZ BANK AG             13.100   7/27/2012     EUR    72.25
DZ BANK AG             12.750   7/27/2012     EUR    71.52
DZ BANK AG             12.700   7/27/2012     EUR    71.29
DZ BANK AG             12.500   7/27/2012     EUR    59.13
DZ BANK AG             12.250   7/27/2012     EUR    68.11
DZ BANK AG             12.000   7/27/2012     EUR    58.19
DZ BANK AG             12.000   7/27/2012     EUR    74.87
DZ BANK AG             11.750   7/27/2012     EUR    53.26
DZ BANK AG             11.500   7/27/2012     EUR    45.21
DZ BANK AG             11.250   7/27/2012     EUR    67.79
DZ BANK AG             11.250   7/27/2012     EUR    53.15
DZ BANK AG             11.250   7/27/2012     EUR    71.18
DZ BANK AG             10.750   7/27/2012     EUR    48.86
DZ BANK AG             10.500   7/27/2012     EUR    53.52
DZ BANK AG             10.000   7/27/2012     EUR    57.46
DZ BANK AG              9.800   7/27/2012     EUR    62.70
DZ BANK AG              9.250   7/27/2012     EUR    68.64
DZ BANK AG              9.250   7/27/2012     EUR    67.19
DZ BANK AG              9.000   7/27/2012     EUR    64.44
DZ BANK AG              8.750   7/27/2012     EUR    74.81
DZ BANK AG              8.000   7/27/2012     EUR    57.53
DZ BANK AG              8.000   7/27/2012     EUR    52.74
DZ BANK AG              7.500   7/27/2012     EUR    66.70
DZ BANK AG              7.250   7/27/2012     EUR    74.92
DZ BANK AG              6.500   7/27/2012     EUR    63.38
DZ BANK AG              6.500   7/27/2012     EUR    73.47
DZ BANK AG              6.000   7/27/2012     EUR    68.80
DZ BANK AG             12.500   7/13/2012     EUR    50.61
DZ BANK AG             10.250   7/13/2012     EUR    62.65
DZ BANK AG             10.000   7/13/2012     EUR    70.07
DZ BANK AG              9.750   7/13/2012     EUR    74.63
DZ BANK AG              9.500   7/13/2012     EUR    64.52
DZ BANK AG              9.250   7/13/2012     EUR    58.98
DZ BANK AG              8.500   7/13/2012     EUR    69.86
DZ BANK AG              8.500   7/13/2012     EUR    45.51
DZ BANK AG              8.500   7/13/2012     EUR    48.48
DZ BANK AG              8.250   7/13/2012     EUR    60.74
DZ BANK AG              7.750   7/13/2012     EUR    73.00
DZ BANK AG              7.500   7/13/2012     EUR    72.96
DZ BANK AG              7.500   7/13/2012     EUR    43.90
DZ BANK AG              7.250   7/13/2012     EUR    57.25
DZ BANK AG              7.250   7/13/2012     EUR    68.01
DZ BANK AG              7.250   7/13/2012     EUR    68.01
DZ BANK AG              7.000   7/13/2012     EUR    61.08
DZ BANK AG              7.000   7/13/2012     EUR    72.89
DZ BANK AG              6.750   7/13/2012     EUR    65.39
DZ BANK AG              6.200   7/13/2012     EUR    69.78
DZ BANK AG              6.000   7/13/2012     EUR    64.02
DZ BANK AG              5.000   7/13/2012     EUR    69.36
DZ BANK AG              5.000   7/13/2012     EUR    62.31
DZ BANK AG             12.300   7/11/2012     EUR    73.55
DZ BANK AG              7.000   7/11/2012     EUR    63.91
DZ BANK AG              7.000   7/11/2012     EUR    62.07
DZ BANK AG              9.500    7/6/2012     EUR    72.23
DZ BANK AG             21.000   6/22/2012     EUR    73.71
DZ BANK AG             16.000   6/22/2012     EUR     7.32
DZ BANK AG             13.750   6/22/2012     EUR    66.61
DZ BANK AG             13.750   6/22/2012     EUR    53.64
DZ BANK AG             13.000   6/22/2012     EUR    33.87
DZ BANK AG             12.500   6/22/2012     EUR    69.98
DZ BANK AG             12.000   6/22/2012     EUR    73.85
DZ BANK AG             12.000   6/22/2012     EUR    45.07
DZ BANK AG             11.750   6/22/2012     EUR    39.64
DZ BANK AG             11.750   6/22/2012     EUR    68.14
DZ BANK AG             11.750   6/22/2012     EUR    38.40
DZ BANK AG             11.750   6/22/2012     EUR    62.13
DZ BANK AG             11.250   6/22/2012     EUR    37.00
DZ BANK AG             11.000   6/22/2012     EUR    43.05
DZ BANK AG             11.000   6/22/2012     EUR    28.25
DZ BANK AG             10.750   6/22/2012     EUR    45.40
DZ BANK AG             10.750   6/22/2012     EUR    66.44
DZ BANK AG             10.750   6/22/2012     EUR    73.82
DZ BANK AG             10.500   6/22/2012     EUR    64.97
DZ BANK AG             10.500   6/22/2012     EUR    31.16
DZ BANK AG             10.250   6/22/2012     EUR    74.17
DZ BANK AG             10.000   6/22/2012     EUR    57.36
DZ BANK AG             10.000   6/22/2012     EUR    63.15
DZ BANK AG             10.000   6/22/2012     EUR    53.11
DZ BANK AG              9.750   6/22/2012     EUR    66.76
DZ BANK AG              9.750   6/22/2012     EUR    68.10
DZ BANK AG              9.750   6/22/2012     EUR    48.86
DZ BANK AG              9.750   6/22/2012     EUR    58.56
DZ BANK AG              9.750   6/22/2012     EUR    73.31
DZ BANK AG              9.750   6/22/2012     EUR    73.62
DZ BANK AG              9.000   6/22/2012     EUR    67.75
DZ BANK AG              9.000   6/22/2012     EUR    49.18
DZ BANK AG              9.000   6/22/2012     EUR    24.04
DZ BANK AG              8.750   6/22/2012     EUR    66.10
DZ BANK AG              8.750   6/22/2012     EUR    56.39
DZ BANK AG              8.500   6/22/2012     EUR    65.58
DZ BANK AG              8.500   6/22/2012     EUR    68.66
DZ BANK AG              8.250   6/22/2012     EUR    66.82
DZ BANK AG              8.250   6/22/2012     EUR    65.96
DZ BANK AG              8.000   6/22/2012     EUR    34.38
DZ BANK AG              7.750   6/22/2012     EUR    66.01
DZ BANK AG              7.500   6/22/2012     EUR    60.22
DZ BANK AG              7.500   6/22/2012     EUR    72.96
DZ BANK AG              7.250   6/22/2012     EUR    71.41
DZ BANK AG              7.250   6/22/2012     EUR    65.16
DZ BANK AG              7.000   6/22/2012     EUR    72.50
DZ BANK AG              7.000   6/22/2012     EUR    68.30
DZ BANK AG              6.750   6/22/2012     EUR    65.17
DZ BANK AG              6.250   6/22/2012     EUR    72.44
DZ BANK AG              6.250   6/22/2012     EUR    54.45
DZ BANK AG              6.250   6/22/2012     EUR    74.94
DZ BANK AG              6.250   6/22/2012     EUR    62.12
DZ BANK AG              5.500   6/22/2012     EUR    65.93
DZ BANK AG              5.500   6/22/2012     EUR    68.09
DZ BANK AG              5.250   6/22/2012     EUR    61.49
DZ BANK AG              4.000   6/20/2012     EUR    58.61
DZ BANK AG              8.000   6/11/2012     EUR    61.48
DZ BANK AG             12.250    6/8/2012     EUR    71.86
DZ BANK AG             11.500    6/8/2012     EUR    73.84
DZ BANK AG             11.250    6/8/2012     EUR    44.31
DZ BANK AG             10.750    6/8/2012     EUR    72.60
DZ BANK AG             10.500    6/8/2012     EUR    41.04
DZ BANK AG             10.000    6/8/2012     EUR    70.10
DZ BANK AG              9.750    6/8/2012     EUR    67.45
DZ BANK AG              9.750    6/8/2012     EUR    62.94
DZ BANK AG              9.500    6/8/2012     EUR    66.56
DZ BANK AG              9.250    6/8/2012     EUR    46.23
DZ BANK AG              9.000    6/8/2012     EUR    49.40
DZ BANK AG              8.750    6/8/2012     EUR    65.77
DZ BANK AG              8.500    6/8/2012     EUR    74.68
DZ BANK AG              8.250    6/8/2012     EUR    72.29
DZ BANK AG              8.250    6/8/2012     EUR    63.57
DZ BANK AG              8.000    6/8/2012     EUR    64.81
DZ BANK AG              8.000    6/8/2012     EUR    64.99
DZ BANK AG              7.750    6/8/2012     EUR    62.35
DZ BANK AG              7.500    6/8/2012     EUR    55.73
DZ BANK AG              6.750    6/8/2012     EUR    50.92
DZ BANK AG              6.000    6/8/2012     EUR    71.71
DZ BANK AG              6.000    6/8/2012     EUR    52.61
DZ BANK AG              5.000    6/8/2012     EUR    61.49
DZ BANK AG             16.000    6/7/2012     EUR    68.27
DZ BANK AG             12.000    6/7/2012     EUR    74.65
DZ BANK AG              8.000    6/7/2012     EUR    65.88
DZ BANK AG             26.500   5/25/2012     EUR    74.74
DZ BANK AG             18.000   5/25/2012     EUR    69.99
DZ BANK AG             17.000   5/25/2012     EUR    66.39
DZ BANK AG              5.000   6/22/2018     EUR    54.97
DZ BANK AG              5.270   6/24/2013     EUR    17.90
DZ BANK AG              5.000   6/24/2013     EUR    16.90
DZ BANK AG             17.000   4/26/2013     EUR    66.40
DZ BANK AG             15.750   4/26/2013     EUR    74.21
DZ BANK AG             11.500   4/26/2013     EUR    61.89
DZ BANK AG             17.000   3/22/2013     EUR    72.92
DZ BANK AG             11.250   3/22/2013     EUR    65.56
DZ BANK AG              9.750   3/22/2013     EUR    73.16
DZ BANK AG              5.410   3/22/2013     EUR    16.00
DZ BANK AG              5.000   3/22/2013     EUR    68.28
DZ BANK AG              5.000   3/22/2013     EUR    11.00
DZ BANK AG              5.000   3/22/2013     EUR    16.00
DZ BANK AG             13.750    3/8/2013     EUR    61.37
DZ BANK AG             11.250    3/8/2013     EUR    70.67
DZ BANK AG             10.000    3/8/2013     EUR    71.39
DZ BANK AG             15.000   2/22/2013     EUR    74.83
DZ BANK AG             15.000   2/22/2013     EUR    73.69
DZ BANK AG             15.000   2/22/2013     EUR    72.59
DZ BANK AG             15.000   2/22/2013     EUR    71.52
DZ BANK AG             14.000   2/22/2013     EUR    69.65
DZ BANK AG             11.250   2/22/2013     EUR    73.51
DZ BANK AG             15.500    2/8/2013     EUR    69.31
DZ BANK AG             11.250    2/8/2013     EUR    73.53
DZ BANK AG             19.000   1/25/2013     EUR    73.69
DZ BANK AG             14.000   1/25/2013     EUR    67.27
DZ BANK AG             12.500   1/25/2013     EUR    57.65
DZ BANK AG             15.500   1/11/2013     EUR    61.60
DZ BANK AG             14.250   1/11/2013     EUR    66.30
DZ BANK AG             14.000   1/11/2013     EUR    55.89
DZ BANK AG              6.000    1/2/2013     EUR    56.15
DZ BANK AG              5.000  12/21/2012     EUR    68.13
DZ BANK AG              3.850  12/21/2012     EUR    16.50
DZ BANK AG              9.750  12/14/2012     EUR    70.74
DZ BANK AG              7.250  12/14/2012     EUR    71.23
DZ BANK AG              5.000  12/14/2012     EUR    61.93
DZ BANK AG             20.000  11/23/2012     EUR    72.09
DZ BANK AG             15.500  11/23/2012     EUR    69.05
DZ BANK AG             10.000  11/23/2012     EUR    65.16
DZ BANK AG             16.000  10/26/2012     EUR    71.90
DZ BANK AG             11.000  10/12/2012     EUR    57.69
DZ BANK AG              9.500  10/12/2012     EUR    64.08
DZ BANK AG              8.000  10/12/2012     EUR    71.33
DZ BANK AG              8.000  10/12/2012     EUR    47.39
DZ BANK AG              7.000  10/12/2012     EUR    60.58
DZ BANK AG              7.000  10/12/2012     EUR    74.54
DZ BANK AG              7.000  10/12/2012     EUR    45.54
DZ BANK AG              5.900  10/12/2012     EUR    71.87
DZ BANK AG              8.300   10/5/2012     EUR    64.37
DZ BANK AG              5.700   10/5/2012     EUR    68.65
DZ BANK AG              4.500   10/5/2012     EUR    71.09
DZ BANK AG             22.500   9/28/2012     EUR    68.25
DZ BANK AG             22.000   9/28/2012     EUR    60.39
DZ BANK AG             20.500   9/28/2012     EUR    73.91
DZ BANK AG             20.000   9/28/2012     EUR    73.33
DZ BANK AG             15.500   9/28/2012     EUR    73.79
DZ BANK AG             15.000   9/28/2012     EUR    73.39
DZ BANK AG             14.750   9/28/2012     EUR    57.30
DZ BANK AG             12.250   9/28/2012     EUR    67.26
DZ BANK AG             11.000   9/28/2012     EUR    72.59
DZ BANK AG             19.500   9/14/2012     EUR    61.95
DZ BANK AG             12.500   9/14/2012     EUR    72.01
DZ BANK AG             10.500   9/14/2012     EUR    46.92
DZ BANK AG             10.250   9/14/2012     EUR    74.44
DZ BANK AG             10.000   9/14/2012     EUR    66.84
DZ BANK AG             10.000   9/14/2012     EUR    66.58
DZ BANK AG              9.500   9/14/2012     EUR    68.71
DZ BANK AG              9.500   9/14/2012     EUR    68.41
DZ BANK AG              8.500   9/14/2012     EUR    51.44
DZ BANK AG              8.500   9/14/2012     EUR    73.23
DZ BANK AG              8.250   9/14/2012     EUR    65.64
DZ BANK AG              8.000   9/14/2012     EUR    46.81
DZ BANK AG              7.750   9/14/2012     EUR    74.28
DZ BANK AG              7.500   9/14/2012     EUR    57.70
DZ BANK AG              7.500   9/14/2012     EUR    74.20
DZ BANK AG              7.250   9/14/2012     EUR    67.61
DZ BANK AG              6.250   9/14/2012     EUR    50.70
DZ BANK AG              6.000   9/14/2012     EUR    70.30
DZ BANK AG              6.000   9/14/2012     EUR    67.22
DZ BANK AG              5.850   9/14/2012     EUR    54.74
DZ BANK AG              5.000   9/14/2012     EUR    56.49
DZ BANK AG             21.250   8/24/2012     EUR    67.21
DZ BANK AG             21.000   8/24/2012     EUR    73.33
DZ BANK AG             21.000   8/24/2012     EUR    65.36
DZ BANK AG             19.000   8/24/2012     EUR    73.44
DZ BANK AG             18.000   8/24/2012     EUR    63.93
DZ BANK AG             17.500   8/24/2012     EUR    70.90
DZ BANK AG             17.000   8/24/2012     EUR    71.01
DZ BANK AG             16.500   8/24/2012     EUR    69.49
DZ BANK AG             15.750   8/24/2012     EUR    69.97
DZ BANK AG             14.500   8/24/2012     EUR    70.76
DZ BANK AG             14.000   8/24/2012     EUR    72.33
DZ BANK AG             14.000   8/24/2012     EUR    68.78
DZ BANK AG             13.500   8/24/2012     EUR    72.19
DZ BANK AG             12.000   8/24/2012     EUR    74.72
DZ BANK AG             12.000   8/24/2012     EUR    74.12
DZ BANK AG             10.750   8/24/2012     EUR    59.93
DZ BANK AG             21.250   8/10/2012     EUR    55.60
ESCADA AG               7.500    4/1/2012     EUR     8.67
EUROHYPO AG             3.830   9/21/2020     EUR    69.00
GOLDMAN SACHS CO       16.000   6/26/2013     EUR    73.60
GOLDMAN SACHS CO       16.000   6/26/2013     EUR    74.20
GOLDMAN SACHS CO       17.000   9/26/2012     EUR    74.30
GOLDMAN SACHS CO       16.000   9/26/2012     EUR    74.40
GOTHAER ALLG VER        5.527   9/29/2026     EUR    72.00
HECKLER & KOCH          9.500   5/15/2018     EUR    67.26
HECKLER & KOCH          9.500   5/15/2018     EUR    67.00
HEIDELBERG DRUCK        9.250   4/15/2018     EUR    74.84
HSBC TRINKAUS          15.500   3/22/2013     EUR    68.35
HSBC TRINKAUS          15.500   3/22/2013     EUR    74.89
HSBC TRINKAUS          16.000   3/22/2013     EUR    72.43
HSBC TRINKAUS          14.000   3/22/2013     EUR    72.86
HSBC TRINKAUS          18.000   3/22/2013     EUR    70.92
HSBC TRINKAUS          18.500   3/22/2013     EUR    66.71
HSBC TRINKAUS          19.500   3/22/2013     EUR    73.14
HSBC TRINKAUS          17.500   3/22/2013     EUR    74.83
HSBC TRINKAUS          19.500   3/22/2013     EUR    70.77
HSBC TRINKAUS          19.500   3/22/2013     EUR    72.61
HSBC TRINKAUS          20.000   3/22/2013     EUR    69.97
HSBC TRINKAUS          21.000   3/22/2013     EUR    66.24
HSBC TRINKAUS          13.000   3/22/2013     EUR    67.79
HSBC TRINKAUS          12.000   6/22/2012     EUR    48.23
HSBC TRINKAUS          22.000   8/24/2012     EUR    74.91
HSBC TRINKAUS          15.500   9/28/2012     EUR    64.44
HSBC TRINKAUS          17.000   9/28/2012     EUR    70.20
HSBC TRINKAUS          21.000   3/22/2013     EUR    73.00
HSBC TRINKAUS          20.000   9/28/2012     EUR    63.41
HSBC TRINKAUS          20.000   9/28/2012     EUR    72.28
HSBC TRINKAUS          21.000   9/28/2012     EUR    68.60
HSBC TRINKAUS          21.000   9/28/2012     EUR    74.19
HSBC TRINKAUS          25.000   9/28/2012     EUR    66.06
HSBC TRINKAUS          25.500   9/28/2012     EUR    74.42
HSBC TRINKAUS          27.500   9/28/2012     EUR    72.77
HSBC TRINKAUS          27.500   9/28/2012     EUR    73.09
HSBC TRINKAUS          29.500   9/28/2012     EUR    64.61
HSBC TRINKAUS          29.500   9/28/2012     EUR    70.13
HSBC TRINKAUS           8.000   3/22/2013     EUR    70.39
HSBC TRINKAUS          10.500   3/22/2013     EUR    71.39
HSBC TRINKAUS          14.500   3/22/2013     EUR    73.64
HSBC TRINKAUS          30.000   6/28/2013     EUR    62.90
HSBC TRINKAUS          26.000   6/28/2013     EUR    62.62
HSBC TRINKAUS          25.500   6/28/2013     EUR    70.68
HSBC TRINKAUS          22.500   6/28/2013     EUR    71.16
HSBC TRINKAUS          15.000   3/22/2013     EUR    74.61
HSBC TRINKAUS          14.500   3/22/2013     EUR    73.67
HSBC TRINKAUS          19.000   6/28/2013     EUR    67.76
HSBC TRINKAUS          18.500   6/28/2013     EUR    72.05
HSBC TRINKAUS          16.500   6/28/2013     EUR    68.47
HSBC TRINKAUS          17.000   6/28/2013     EUR    72.80
HSBC TRINKAUS          10.500   6/28/2013     EUR    72.50
HSBC TRINKAUS          14.000   6/28/2013     EUR    69.63
HSBC TRINKAUS          27.500   3/22/2013     EUR    61.85
HSBC TRINKAUS           8.000   6/28/2013     EUR    74.78
HSBC TRINKAUS          26.500   3/22/2013     EUR    74.88
HSBC TRINKAUS          27.000   3/22/2013     EUR    71.39
HSBC TRINKAUS          21.500   3/22/2013     EUR    73.39
HSBC TRINKAUS          22.000   3/22/2013     EUR    65.97
HSBC TRINKAUS          19.000   9/28/2012     EUR    71.98
LANDBK HESSEN-TH        5.750   7/13/2012     EUR    68.50
LANDBK HESSEN-TH        5.000   6/28/2012     EUR    71.50
LANDESBK BERLIN         7.000   5/23/2012     EUR    68.26
LANDESBK BERLIN         5.500  12/23/2013     EUR    68.80
LANDESBK BERLIN         7.000   6/25/2012     EUR    72.87
LB BADEN-WUERTT        10.000   7/27/2012     EUR    57.54
LB BADEN-WUERTT         4.000   5/25/2012     EUR    70.41
LB BADEN-WUERTT         4.000   5/25/2012     EUR    55.31
LB BADEN-WUERTT         4.000   5/25/2012     EUR    71.10
LB BADEN-WUERTT         4.000   5/25/2012     EUR    63.78
LB BADEN-WUERTT         4.000   5/25/2012     EUR    73.26
LB BADEN-WUERTT         4.000   5/25/2012     EUR    46.64
LB BADEN-WUERTT         6.000   5/25/2012     EUR    67.90
LB BADEN-WUERTT         6.000   5/25/2012     EUR    61.32
LB BADEN-WUERTT         6.000   5/25/2012     EUR    48.72
LB BADEN-WUERTT         6.000   5/25/2012     EUR    61.98
LB BADEN-WUERTT         6.000   5/25/2012     EUR    37.71
LB BADEN-WUERTT         6.000   5/25/2012     EUR    72.08
LB BADEN-WUERTT         6.000   5/25/2012     EUR    57.85
LB BADEN-WUERTT         6.000   5/25/2012     EUR    66.02
LB BADEN-WUERTT         6.000   5/25/2012     EUR    70.73
LB BADEN-WUERTT         6.000   5/25/2012     EUR    73.27
LB BADEN-WUERTT         8.000   5/25/2012     EUR    44.29
LB BADEN-WUERTT         8.000   5/25/2012     EUR    34.12
LB BADEN-WUERTT         8.000   5/25/2012     EUR    66.11
LB BADEN-WUERTT         8.000   5/25/2012     EUR    73.93
LB BADEN-WUERTT         8.000   5/25/2012     EUR    53.44
LB BADEN-WUERTT         8.000   5/25/2012     EUR    73.02
LB BADEN-WUERTT         8.000   5/25/2012     EUR    67.48
LB BADEN-WUERTT         8.000   5/25/2012     EUR    68.02
LB BADEN-WUERTT         8.000   5/25/2012     EUR    56.01
LB BADEN-WUERTT         8.000   5/25/2012     EUR    66.05
LB BADEN-WUERTT         8.000   5/25/2012     EUR    60.26
LB BADEN-WUERTT         8.000   5/25/2012     EUR    54.21
LB BADEN-WUERTT         8.000   5/25/2012     EUR    61.06
LB BADEN-WUERTT         8.350   5/25/2012     EUR    40.12
LB BADEN-WUERTT         4.000   6/22/2012     EUR    56.28
LB BADEN-WUERTT         4.000   6/22/2012     EUR    47.31
LB BADEN-WUERTT         4.000   6/22/2012     EUR    36.14
LB BADEN-WUERTT         4.000   6/22/2012     EUR    49.81
LB BADEN-WUERTT         5.000   6/22/2012     EUR     9.07
LB BADEN-WUERTT         5.000   6/22/2012     EUR    62.94
LB BADEN-WUERTT         5.000   6/22/2012     EUR    55.88
LB BADEN-WUERTT         5.000   6/22/2012     EUR    54.29
LB BADEN-WUERTT         5.000   6/22/2012     EUR    69.71
LB BADEN-WUERTT         5.000   6/22/2012     EUR    70.93
LB BADEN-WUERTT         5.000   6/22/2012     EUR    62.26
LB BADEN-WUERTT         5.000   6/22/2012     EUR    70.07
LB BADEN-WUERTT         5.000   6/22/2012     EUR    58.17
LB BADEN-WUERTT         5.000   6/22/2012     EUR    73.39
LB BADEN-WUERTT         5.000   6/22/2012     EUR    48.66
LB BADEN-WUERTT         5.000   6/22/2012     EUR    62.87
LB BADEN-WUERTT         5.000   6/22/2012     EUR    21.07
LB BADEN-WUERTT         5.000   6/22/2012     EUR    73.92
LB BADEN-WUERTT         6.000   6/22/2012     EUR    67.90
LB BADEN-WUERTT         6.000   6/22/2012     EUR    41.33
LB BADEN-WUERTT         6.000   6/22/2012     EUR    73.37
LB BADEN-WUERTT         6.000   6/22/2012     EUR    40.79
LB BADEN-WUERTT         6.000   6/22/2012     EUR    66.03
LB BADEN-WUERTT         6.000   6/22/2012     EUR    49.08
LB BADEN-WUERTT         6.000   6/22/2012     EUR    72.65
LB BADEN-WUERTT         6.000   6/22/2012     EUR    31.71
LB BADEN-WUERTT         6.000   6/22/2012     EUR    63.77
LB BADEN-WUERTT         6.000   6/22/2012     EUR    71.09
LB BADEN-WUERTT         6.000   6/22/2012     EUR    68.16
LB BADEN-WUERTT         6.000   6/22/2012     EUR    73.79
LB BADEN-WUERTT         7.500   6/22/2012     EUR    74.86
LB BADEN-WUERTT         7.500   6/22/2012     EUR    65.37
LB BADEN-WUERTT         7.500   6/22/2012     EUR    66.69
LB BADEN-WUERTT         7.500   6/22/2012     EUR    56.34
LB BADEN-WUERTT         7.500   6/22/2012     EUR    44.12
LB BADEN-WUERTT         7.500   6/22/2012     EUR    51.56
LB BADEN-WUERTT         7.500   6/22/2012     EUR    63.78
LB BADEN-WUERTT         7.500   6/22/2012     EUR    72.73
LB BADEN-WUERTT         7.500   6/22/2012     EUR     8.03
LB BADEN-WUERTT         7.500   6/22/2012     EUR    63.23
LB BADEN-WUERTT         7.500   6/22/2012     EUR    55.32
LB BADEN-WUERTT         7.500   6/22/2012     EUR    49.76
LB BADEN-WUERTT         7.500   6/22/2012     EUR    19.12
LB BADEN-WUERTT         7.500   6/22/2012     EUR    50.48
LB BADEN-WUERTT         7.500   6/22/2012     EUR    69.78
LB BADEN-WUERTT         8.000   6/22/2012     EUR    67.50
LB BADEN-WUERTT         8.000   6/22/2012     EUR    56.34
LB BADEN-WUERTT         8.000   6/22/2012     EUR    44.44
LB BADEN-WUERTT         8.000   6/22/2012     EUR    65.35
LB BADEN-WUERTT         8.000   6/22/2012     EUR    28.08
LB BADEN-WUERTT         8.000   6/22/2012     EUR    66.44
LB BADEN-WUERTT         8.000   6/22/2012     EUR    35.95
LB BADEN-WUERTT         8.000   6/22/2012     EUR    63.56
LB BADEN-WUERTT         8.000   6/22/2012     EUR    59.35
LB BADEN-WUERTT         8.000   6/22/2012     EUR    36.76
LB BADEN-WUERTT        10.000   6/22/2012     EUR    69.45
LB BADEN-WUERTT        10.000   6/22/2012     EUR    58.83
LB BADEN-WUERTT        10.000   6/22/2012     EUR    17.81
LB BADEN-WUERTT        10.000   6/22/2012     EUR    70.53
LB BADEN-WUERTT        10.000   6/22/2012     EUR    62.87
LB BADEN-WUERTT        10.000   6/22/2012     EUR    46.40
LB BADEN-WUERTT        10.000   6/22/2012     EUR    59.55
LB BADEN-WUERTT        10.000   6/22/2012     EUR    74.24
LB BADEN-WUERTT        10.000   6/22/2012     EUR    71.84
LB BADEN-WUERTT        10.000   6/22/2012     EUR    72.05
LB BADEN-WUERTT        10.000   6/22/2012     EUR    59.95
LB BADEN-WUERTT        10.000   6/22/2012     EUR    65.15
LB BADEN-WUERTT        10.000   6/22/2012     EUR    41.91
LB BADEN-WUERTT        10.000   6/22/2012     EUR    50.22
LB BADEN-WUERTT        10.000   6/22/2012     EUR    52.20
LB BADEN-WUERTT        10.000   6/22/2012     EUR    46.67
LB BADEN-WUERTT        10.000   6/22/2012     EUR    67.49
LB BADEN-WUERTT        10.000   6/22/2012     EUR    73.41
LB BADEN-WUERTT        10.000   6/22/2012     EUR     7.08
LB BADEN-WUERTT        10.000   6/22/2012     EUR    70.30
LB BADEN-WUERTT        10.000   6/22/2012     EUR    47.11
LB BADEN-WUERTT         4.000   7/27/2012     EUR    44.16
LB BADEN-WUERTT         4.000   7/27/2012     EUR    72.08
LB BADEN-WUERTT         4.000   7/27/2012     EUR    50.23
LB BADEN-WUERTT         4.000   7/27/2012     EUR    73.51
LB BADEN-WUERTT         5.000   7/27/2012     EUR    50.11
LB BADEN-WUERTT         5.000   7/27/2012     EUR    57.08
LB BADEN-WUERTT         5.000   7/27/2012     EUR    58.64
LB BADEN-WUERTT         5.000   7/27/2012     EUR    64.17
LB BADEN-WUERTT         5.000   7/27/2012     EUR    21.89
LB BADEN-WUERTT         5.000   7/27/2012     EUR    74.74
LB BADEN-WUERTT         5.000   7/27/2012     EUR    57.07
LB BADEN-WUERTT         5.000   7/27/2012     EUR    72.13
LB BADEN-WUERTT         5.000   7/27/2012     EUR    56.38
LB BADEN-WUERTT         5.000   7/27/2012     EUR    66.93
LB BADEN-WUERTT         5.000   7/27/2012     EUR    13.70
LB BADEN-WUERTT         5.000   7/27/2012     EUR    69.02
LB BADEN-WUERTT         5.000   7/27/2012     EUR    71.30
LB BADEN-WUERTT         5.000   7/27/2012     EUR    60.93
LB BADEN-WUERTT         5.000   7/27/2012     EUR    74.66
LB BADEN-WUERTT         5.000   7/27/2012     EUR    33.09
LB BADEN-WUERTT         5.000   7/27/2012     EUR    54.89
LB BADEN-WUERTT         5.000   7/27/2012     EUR    58.89
LB BADEN-WUERTT         5.000   7/27/2012     EUR    74.43
LB BADEN-WUERTT         6.000   7/27/2012     EUR    64.72
LB BADEN-WUERTT         6.000   7/27/2012     EUR    71.10
LB BADEN-WUERTT         6.000   7/27/2012     EUR    71.71
LB BADEN-WUERTT         6.000   7/27/2012     EUR    42.35
LB BADEN-WUERTT         6.000   7/27/2012     EUR    69.86
LB BADEN-WUERTT         6.000   7/27/2012     EUR    28.07
LB BADEN-WUERTT         6.000   7/27/2012     EUR    63.87
LB BADEN-WUERTT         6.000   7/27/2012     EUR    39.19
LB BADEN-WUERTT         6.500   7/27/2012     EUR    70.72
LB BADEN-WUERTT         6.500   7/27/2012     EUR    71.75
LB BADEN-WUERTT         7.500   7/27/2012     EUR    44.94
LB BADEN-WUERTT         7.500   7/27/2012     EUR    62.43
LB BADEN-WUERTT         7.500   7/27/2012     EUR    51.67
LB BADEN-WUERTT         7.500   7/27/2012     EUR    62.95
LB BADEN-WUERTT         7.500   7/27/2012     EUR    14.20
LB BADEN-WUERTT         7.500   7/27/2012     EUR    55.71
LB BADEN-WUERTT         7.500   7/27/2012     EUR    51.45
LB BADEN-WUERTT         7.500   7/27/2012     EUR    70.36
LB BADEN-WUERTT         7.500   7/27/2012     EUR    56.74
LB BADEN-WUERTT         7.500   7/27/2012     EUR    67.48
LB BADEN-WUERTT         7.500   7/27/2012     EUR    52.28
LB BADEN-WUERTT         7.500   7/27/2012     EUR    20.33
LB BADEN-WUERTT         7.500   7/27/2012     EUR    69.32
LB BADEN-WUERTT         7.500   7/27/2012     EUR    69.24
LB BADEN-WUERTT         7.500   7/27/2012     EUR    50.12
LB BADEN-WUERTT         7.500   7/27/2012     EUR    30.23
LB BADEN-WUERTT         7.500   7/27/2012     EUR    52.77
LB BADEN-WUERTT         7.500   7/27/2012     EUR    71.39
LB BADEN-WUERTT         7.500   7/27/2012     EUR    59.73
LB BADEN-WUERTT         7.500   7/27/2012     EUR    67.59
LB BADEN-WUERTT         8.000   7/27/2012     EUR    65.36
LB BADEN-WUERTT         8.000   7/27/2012     EUR    62.74
LB BADEN-WUERTT         8.000   7/27/2012     EUR    38.31
LB BADEN-WUERTT         8.000   7/27/2012     EUR    57.86
LB BADEN-WUERTT         8.000   7/27/2012     EUR    66.60
LB BADEN-WUERTT         8.000   7/27/2012     EUR    35.49
LB BADEN-WUERTT         8.000   7/27/2012     EUR    60.37
LB BADEN-WUERTT         8.000   7/27/2012     EUR    74.18
LB BADEN-WUERTT         8.000   7/27/2012     EUR    73.12
LB BADEN-WUERTT         9.000   7/27/2012     EUR    55.06
LB BADEN-WUERTT        10.000   7/27/2012     EUR    74.18
LB BADEN-WUERTT        10.000   7/27/2012     EUR    72.85
LB BADEN-WUERTT        10.000   7/27/2012     EUR    52.34
LB BADEN-WUERTT        10.000   7/27/2012     EUR    66.93
LB BADEN-WUERTT        10.000   7/27/2012     EUR    62.70
LB BADEN-WUERTT        10.000   7/27/2012     EUR    54.97
LB BADEN-WUERTT        10.000   7/27/2012     EUR    14.65
LB BADEN-WUERTT        10.000   7/27/2012     EUR    48.09
LB BADEN-WUERTT        10.000   7/27/2012     EUR    57.06
LB BADEN-WUERTT        10.000   7/27/2012     EUR    62.55
LB BADEN-WUERTT        10.000   7/27/2012     EUR    70.67
LB BADEN-WUERTT        10.000   7/27/2012     EUR    72.90
LB BADEN-WUERTT        10.000   7/27/2012     EUR    27.99
LB BADEN-WUERTT        10.000   7/27/2012     EUR    74.18
LB BADEN-WUERTT        10.000   7/27/2012     EUR    74.03
LB BADEN-WUERTT        10.000   7/27/2012     EUR    66.16
LB BADEN-WUERTT        10.000   7/27/2012     EUR    73.55
LB BADEN-WUERTT        10.000   7/27/2012     EUR    70.19
LB BADEN-WUERTT        10.000   7/27/2012     EUR    51.80
LB BADEN-WUERTT        10.000   7/27/2012     EUR    64.87
LB BADEN-WUERTT        10.000   7/27/2012     EUR    19.41
LB BADEN-WUERTT        10.000   7/27/2012     EUR    48.04
LB BADEN-WUERTT        10.000   7/27/2012     EUR    41.81
LB BADEN-WUERTT        10.000   7/27/2012     EUR    49.22
LB BADEN-WUERTT        10.000   7/27/2012     EUR    45.81
LB BADEN-WUERTT        10.000   7/27/2012     EUR    62.66
LB BADEN-WUERTT        10.000   7/27/2012     EUR    46.94
LB BADEN-WUERTT         4.000   8/24/2012     EUR    70.63
LB BADEN-WUERTT         4.000   8/24/2012     EUR    70.77
LB BADEN-WUERTT         4.000   8/24/2012     EUR    41.30
LB BADEN-WUERTT         4.000   8/24/2012     EUR    74.88
LB BADEN-WUERTT         4.000   8/24/2012     EUR    66.55
LB BADEN-WUERTT         4.000   8/24/2012     EUR    51.23
LB BADEN-WUERTT         5.000   8/24/2012     EUR    66.78
LB BADEN-WUERTT         5.000   8/24/2012     EUR    71.76
LB BADEN-WUERTT         5.000   8/24/2012     EUR    66.01
LB BADEN-WUERTT         5.000   8/24/2012     EUR    68.26
LB BADEN-WUERTT         5.000   8/24/2012     EUR    72.68
LB BADEN-WUERTT         5.000   8/24/2012     EUR    72.63
LB BADEN-WUERTT         5.000   8/24/2012     EUR    74.31
LB BADEN-WUERTT         5.000   8/24/2012     EUR    50.59
LB BADEN-WUERTT         5.000   8/24/2012     EUR    26.84
LB BADEN-WUERTT         5.000   8/24/2012     EUR    64.26
LB BADEN-WUERTT         5.000   8/24/2012     EUR    60.38
LB BADEN-WUERTT         5.000   8/24/2012     EUR    54.21
LB BADEN-WUERTT         6.000   8/24/2012     EUR    59.64
LB BADEN-WUERTT         6.000   8/24/2012     EUR    35.49
LB BADEN-WUERTT         6.000   8/24/2012     EUR    67.66
LB BADEN-WUERTT         6.000   8/24/2012     EUR    64.28
LB BADEN-WUERTT         6.000   8/24/2012     EUR    45.80
LB BADEN-WUERTT         6.000   8/24/2012     EUR    68.35
LB BADEN-WUERTT         6.000   8/24/2012     EUR    72.56
LB BADEN-WUERTT         6.000   8/24/2012     EUR    71.48
LB BADEN-WUERTT         6.000   8/24/2012     EUR    64.03
LB BADEN-WUERTT         6.000   8/24/2012     EUR    58.18
LB BADEN-WUERTT         6.000   8/24/2012     EUR    74.65
LB BADEN-WUERTT         6.000   8/24/2012     EUR    69.84
LB BADEN-WUERTT         7.500   8/24/2012     EUR    73.77
LB BADEN-WUERTT         7.500   8/24/2012     EUR    67.55
LB BADEN-WUERTT         7.500   8/24/2012     EUR    45.74
LB BADEN-WUERTT         7.500   8/24/2012     EUR    61.99
LB BADEN-WUERTT         7.500   8/24/2012     EUR    54.19
LB BADEN-WUERTT         7.500   8/24/2012     EUR    74.87
LB BADEN-WUERTT         7.500   8/24/2012     EUR    24.16
LB BADEN-WUERTT         7.500   8/24/2012     EUR    68.61
LB BADEN-WUERTT         7.500   8/24/2012     EUR    65.10
LB BADEN-WUERTT         7.500   8/24/2012     EUR    64.36
LB BADEN-WUERTT         7.500   8/24/2012     EUR    59.58
LB BADEN-WUERTT         7.500   8/24/2012     EUR    58.27
LB BADEN-WUERTT         7.500   8/24/2012     EUR    70.64
LB BADEN-WUERTT         7.500   8/24/2012     EUR    65.94
LB BADEN-WUERTT         7.500   8/24/2012     EUR    56.52
LB BADEN-WUERTT         7.500   8/24/2012     EUR    72.60
LB BADEN-WUERTT         7.500   8/24/2012     EUR    49.54
LB BADEN-WUERTT         8.000   8/24/2012     EUR    32.41
LB BADEN-WUERTT         8.000   8/24/2012     EUR    52.56
LB BADEN-WUERTT         8.000   8/24/2012     EUR    67.56
LB BADEN-WUERTT         8.000   8/24/2012     EUR    72.47
LB BADEN-WUERTT         8.000   8/24/2012     EUR    64.91
LB BADEN-WUERTT         8.000   8/24/2012     EUR    60.19
LB BADEN-WUERTT         8.000   8/24/2012     EUR    66.36
LB BADEN-WUERTT         8.000   8/24/2012     EUR    67.38
LB BADEN-WUERTT         8.000   8/24/2012     EUR    63.91
LB BADEN-WUERTT         8.000   8/24/2012     EUR    53.42
LB BADEN-WUERTT         8.000   8/24/2012     EUR    56.79
LB BADEN-WUERTT         8.000   8/24/2012     EUR    42.30
LB BADEN-WUERTT         8.000   8/24/2012     EUR    61.67
LB BADEN-WUERTT         8.005   8/24/2012     EUR    73.99
LB BADEN-WUERTT        10.000   8/24/2012     EUR    68.74
LB BADEN-WUERTT        10.000   8/24/2012     EUR    60.35
LB BADEN-WUERTT        10.000   8/24/2012     EUR    58.08
LB BADEN-WUERTT        10.000   8/24/2012     EUR    61.35
LB BADEN-WUERTT        10.000   8/24/2012     EUR    62.42
LB BADEN-WUERTT        10.000   8/24/2012     EUR    69.14
LB BADEN-WUERTT        10.000   8/24/2012     EUR    53.97
LB BADEN-WUERTT        10.000   8/24/2012     EUR    71.89
LB BADEN-WUERTT        10.000   8/24/2012     EUR    71.03
LB BADEN-WUERTT        10.000   8/24/2012     EUR    53.53
LB BADEN-WUERTT        10.000   8/24/2012     EUR    69.99
LB BADEN-WUERTT        10.000   8/24/2012     EUR    51.47
LB BADEN-WUERTT        10.000   8/24/2012     EUR    74.12
LB BADEN-WUERTT        10.000   8/24/2012     EUR    64.51
LB BADEN-WUERTT        10.000   8/24/2012     EUR    59.10
LB BADEN-WUERTT        10.000   8/24/2012     EUR    42.60
LB BADEN-WUERTT        10.000   8/24/2012     EUR    50.46
LB BADEN-WUERTT        10.000   8/24/2012     EUR    22.82
LB BADEN-WUERTT        10.000   8/24/2012     EUR    71.22
LB BADEN-WUERTT        10.000   8/24/2012     EUR    64.76
LB BADEN-WUERTT        10.000   8/24/2012     EUR    43.25
LB BADEN-WUERTT         4.000   9/28/2012     EUR    64.99
LB BADEN-WUERTT         4.000   9/28/2012     EUR    45.88
LB BADEN-WUERTT         4.000   9/28/2012     EUR    61.67
LB BADEN-WUERTT         4.000   9/28/2012     EUR    63.50
LB BADEN-WUERTT         4.000   9/28/2012     EUR    29.44
LB BADEN-WUERTT         6.000   9/28/2012     EUR    67.00
LB BADEN-WUERTT         6.000   9/28/2012     EUR    54.39
LB BADEN-WUERTT         6.000   9/28/2012     EUR    55.50
LB BADEN-WUERTT         6.000   9/28/2012     EUR    24.88
LB BADEN-WUERTT         6.000   9/28/2012     EUR    39.83
LB BADEN-WUERTT         6.000   9/28/2012     EUR    68.12
LB BADEN-WUERTT         6.000   9/28/2012     EUR    55.46
LB BADEN-WUERTT         7.000   9/28/2012     EUR    73.03
LB BADEN-WUERTT         7.500   9/28/2012     EUR    74.82
LB BADEN-WUERTT         8.000   9/28/2012     EUR    50.83
LB BADEN-WUERTT         8.000   9/28/2012     EUR    59.62
LB BADEN-WUERTT         8.000   9/28/2012     EUR    49.42
LB BADEN-WUERTT         8.000   9/28/2012     EUR    22.54
LB BADEN-WUERTT         8.000   9/28/2012     EUR    73.70
LB BADEN-WUERTT         8.000   9/28/2012     EUR    71.53
LB BADEN-WUERTT         8.000   9/28/2012     EUR    36.84
LB BADEN-WUERTT         8.000   9/28/2012     EUR    61.00
LB BADEN-WUERTT         8.000   9/28/2012     EUR    49.75
LB BADEN-WUERTT        10.000   9/28/2012     EUR    70.19
LB BADEN-WUERTT         5.000  10/26/2012     EUR    61.11
LB BADEN-WUERTT         5.000  10/26/2012     EUR    21.45
LB BADEN-WUERTT         5.000  10/26/2012     EUR    63.01
LB BADEN-WUERTT         5.000  10/26/2012     EUR     8.11
LB BADEN-WUERTT         5.000  10/26/2012     EUR    60.09
LB BADEN-WUERTT         5.000  10/26/2012     EUR    57.78
LB BADEN-WUERTT         7.500  10/26/2012     EUR    53.84
LB BADEN-WUERTT         7.500  10/26/2012     EUR    56.57
LB BADEN-WUERTT         7.500  10/26/2012     EUR    52.54
LB BADEN-WUERTT         7.500  10/26/2012     EUR     8.43
LB BADEN-WUERTT         7.500  10/26/2012     EUR    50.91
LB BADEN-WUERTT         7.500  10/26/2012     EUR    19.80
LB BADEN-WUERTT         7.500  10/26/2012     EUR    70.94
LB BADEN-WUERTT         7.500  10/26/2012     EUR    68.18
LB BADEN-WUERTT        10.000  10/26/2012     EUR    47.45
LB BADEN-WUERTT        10.000  10/26/2012     EUR    47.56
LB BADEN-WUERTT        10.000  10/26/2012     EUR    50.22
LB BADEN-WUERTT        10.000  10/26/2012     EUR    71.37
LB BADEN-WUERTT        10.000  10/26/2012     EUR    63.02
LB BADEN-WUERTT        10.000  10/26/2012     EUR     8.66
LB BADEN-WUERTT        10.000  10/26/2012     EUR    72.11
LB BADEN-WUERTT        10.000  10/26/2012     EUR    19.15
LB BADEN-WUERTT        10.000  10/26/2012     EUR    72.67
LB BADEN-WUERTT        10.000  10/26/2012     EUR    74.27
LB BADEN-WUERTT        10.000  10/26/2012     EUR    72.66
LB BADEN-WUERTT        10.000  10/26/2012     EUR    65.99
LB BADEN-WUERTT        10.000  10/26/2012     EUR    52.47
LB BADEN-WUERTT         5.000  11/23/2012     EUR    63.57
LB BADEN-WUERTT         5.000  11/23/2012     EUR    62.57
LB BADEN-WUERTT         5.000  11/23/2012     EUR    53.54
LB BADEN-WUERTT         5.000  11/23/2012     EUR    54.21
LB BADEN-WUERTT         5.000  11/23/2012     EUR    21.75
LB BADEN-WUERTT         5.000  11/23/2012     EUR    66.84
LB BADEN-WUERTT         5.000  11/23/2012     EUR    74.15
LB BADEN-WUERTT         5.000  11/23/2012     EUR    73.07
LB BADEN-WUERTT         7.500  11/23/2012     EUR    67.50
LB BADEN-WUERTT         7.500  11/23/2012     EUR    55.51
LB BADEN-WUERTT         7.500  11/23/2012     EUR    65.49
LB BADEN-WUERTT         7.500  11/23/2012     EUR    48.51
LB BADEN-WUERTT         7.500  11/23/2012     EUR    72.19
LB BADEN-WUERTT         7.500  11/23/2012     EUR    55.98
LB BADEN-WUERTT         7.500  11/23/2012     EUR    47.07
LB BADEN-WUERTT         7.500  11/23/2012     EUR    58.80
LB BADEN-WUERTT         7.500  11/23/2012     EUR    74.75
LB BADEN-WUERTT         7.500  11/23/2012     EUR    66.33
LB BADEN-WUERTT         7.500  11/23/2012     EUR    20.49
LB BADEN-WUERTT         7.500  11/23/2012     EUR    67.54
LB BADEN-WUERTT        10.000  11/23/2012     EUR    43.57
LB BADEN-WUERTT        10.000  11/23/2012     EUR    19.97
LB BADEN-WUERTT        10.000  11/23/2012     EUR    58.68
LB BADEN-WUERTT        10.000  11/23/2012     EUR    66.43
LB BADEN-WUERTT        10.000  11/23/2012     EUR    45.02
LB BADEN-WUERTT        10.000  11/23/2012     EUR    54.07
LB BADEN-WUERTT        10.000  11/23/2012     EUR    61.98
LB BADEN-WUERTT        10.000  11/23/2012     EUR    52.14
LB BADEN-WUERTT        10.000  11/23/2012     EUR    61.79
LB BADEN-WUERTT        10.000  11/23/2012     EUR    74.99
LB BADEN-WUERTT        10.000  11/23/2012     EUR    50.28
LB BADEN-WUERTT        10.000  11/23/2012     EUR    69.93
LB BADEN-WUERTT        10.000  11/23/2012     EUR    62.92
LB BADEN-WUERTT        15.000  11/23/2012     EUR    54.03
LB BADEN-WUERTT         5.000    1/4/2013     EUR    73.25
LB BADEN-WUERTT         5.000    1/4/2013     EUR    66.93
LB BADEN-WUERTT         5.000    1/4/2013     EUR    55.69
LB BADEN-WUERTT         5.000    1/4/2013     EUR    22.29
LB BADEN-WUERTT         5.000    1/4/2013     EUR    60.12
LB BADEN-WUERTT         5.000    1/4/2013     EUR    53.07
LB BADEN-WUERTT         5.000    1/4/2013     EUR    61.75
LB BADEN-WUERTT         7.500    1/4/2013     EUR    73.79
LB BADEN-WUERTT         7.500    1/4/2013     EUR    54.20
LB BADEN-WUERTT         7.500    1/4/2013     EUR    46.93
LB BADEN-WUERTT         7.500    1/4/2013     EUR    57.24
LB BADEN-WUERTT         7.500    1/4/2013     EUR    71.85
LB BADEN-WUERTT         7.500    1/4/2013     EUR    59.20
LB BADEN-WUERTT         7.500    1/4/2013     EUR    64.73
LB BADEN-WUERTT         7.500    1/4/2013     EUR    63.29
LB BADEN-WUERTT         7.500    1/4/2013     EUR    21.06
LB BADEN-WUERTT        10.000    1/4/2013     EUR    60.59
LB BADEN-WUERTT        10.000    1/4/2013     EUR    44.61
LB BADEN-WUERTT        10.000    1/4/2013     EUR    58.78
LB BADEN-WUERTT        10.000    1/4/2013     EUR    68.62
LB BADEN-WUERTT        10.000    1/4/2013     EUR    55.83
LB BADEN-WUERTT        10.000    1/4/2013     EUR    64.83
LB BADEN-WUERTT        10.000    1/4/2013     EUR    21.04
LB BADEN-WUERTT        10.000    1/4/2013     EUR    49.93
LB BADEN-WUERTT        10.000    1/4/2013     EUR    69.22
LB BADEN-WUERTT         5.000   1/25/2013     EUR    74.31
LB BADEN-WUERTT         5.000   1/25/2013     EUR    71.69
LB BADEN-WUERTT         5.000   1/25/2013     EUR    29.32
LB BADEN-WUERTT         5.000   1/25/2013     EUR    72.81
LB BADEN-WUERTT         7.500   1/25/2013     EUR    72.23
LB BADEN-WUERTT         7.500   1/25/2013     EUR    68.75
LB BADEN-WUERTT         7.500   1/25/2013     EUR    65.79
LB BADEN-WUERTT         7.500   1/25/2013     EUR    27.36
LB BADEN-WUERTT         7.500   1/25/2013     EUR    69.17
LB BADEN-WUERTT         7.500   1/25/2013     EUR    63.18
LB BADEN-WUERTT         7.500   1/25/2013     EUR    74.49
LB BADEN-WUERTT        10.000   1/25/2013     EUR    26.59
LB BADEN-WUERTT        10.000   1/25/2013     EUR    73.17
LB BADEN-WUERTT        10.000   1/25/2013     EUR    57.61
LB BADEN-WUERTT        10.000   1/25/2013     EUR    64.15
LB BADEN-WUERTT        10.000   1/25/2013     EUR    69.16
LB BADEN-WUERTT        10.000   1/25/2013     EUR    73.81
LB BADEN-WUERTT        10.000   1/25/2013     EUR    61.08
LB BADEN-WUERTT        10.000   1/25/2013     EUR    65.38
LB BADEN-WUERTT        15.000   2/22/2013     EUR    68.05
LB BADEN-WUERTT         8.000   3/22/2013     EUR    71.35
LB BADEN-WUERTT        10.000   3/22/2013     EUR    70.10
LB BADEN-WUERTT        12.000   3/22/2013     EUR    72.70
LB BADEN-WUERTT        15.000   3/22/2013     EUR    67.75
LB BADEN-WUERTT         5.000   6/28/2013     EUR    70.51
LB BADEN-WUERTT         7.500   6/28/2013     EUR    71.22
LB BADEN-WUERTT         7.500   6/28/2013     EUR    74.99
LB BADEN-WUERTT         9.000   6/28/2013     EUR    73.25
LB BADEN-WUERTT        10.000   6/28/2013     EUR    70.79
LB BADEN-WUERTT        10.000   6/28/2013     EUR    71.75
LB BADEN-WUERTT        11.000   6/28/2013     EUR    72.59
LB BADEN-WUERTT         7.000   8/23/2013     EUR    73.49
LB BADEN-WUERTT         9.000   8/23/2013     EUR    71.77
LB BADEN-WUERTT        12.000   8/23/2013     EUR    73.56
LB BADEN-WUERTT         9.000   9/27/2013     EUR    74.89
LB BADEN-WUERTT        11.000   9/27/2013     EUR    74.83
LB BADEN-WUERTT         5.250  10/20/2015     EUR    25.98
LB BADEN-WUERTT         4.950   3/27/2017     EUR    73.35
LB BADEN-WUERTT         2.800   2/23/2037     JPY    64.85
L-BANK FOERDERBK        0.500   5/10/2027     CAD    52.18
MACQUARIE STRUCT       12.500   6/22/2012     EUR    36.42
MACQUARIE STRUCT       12.500   6/22/2012     EUR    39.70
MACQUARIE STRUCT       15.750   6/22/2012     EUR    13.20
MACQUARIE STRUCT       15.750   6/22/2012     EUR    50.25
MACQUARIE STRUCT       13.250    1/2/2013     EUR    74.90
MACQUARIE STRUCT       12.750   6/22/2012     EUR    71.24
MACQUARIE STRUCT        8.750   5/25/2012     EUR    70.80
MACQUARIE STRUCT        9.000   6/22/2012     EUR    60.02
MACQUARIE STRUCT        9.250   6/22/2012     EUR    28.19
MACQUARIE STRUCT        9.750   6/22/2012     EUR    62.13
MACQUARIE STRUCT        9.750   6/22/2012     EUR    67.95
MACQUARIE STRUCT       10.000   6/22/2012     EUR    40.82
MACQUARIE STRUCT       10.000   6/22/2012     EUR    70.51
MACQUARIE STRUCT       10.750   9/28/2012     EUR    72.75
MACQUARIE STRUCT       10.250   6/22/2012     EUR    45.74
MACQUARIE STRUCT       11.500   9/28/2012     EUR    46.66
MACQUARIE STRUCT        9.250   9/28/2012     EUR    65.55
MACQUARIE STRUCT        9.750   9/28/2012     EUR    47.95
MACQUARIE STRUCT       16.000   6/22/2012     EUR    12.78
MACQUARIE STRUCT       10.000   9/28/2012     EUR    63.55
MACQUARIE STRUCT       18.000  12/14/2012     EUR    71.13
MACQUARIE STRUCT       12.000   6/22/2012     EUR    71.86
MACQUARIE STRUCT       12.000   6/22/2012     EUR    65.62
MACQUARIE STRUCT       12.500   6/22/2012     EUR    66.68
MACQUARIE STRUCT       17.000   6/22/2012     EUR    36.37
MACQUARIE STRUCT       21.000   6/22/2012     EUR    65.68
MACQUARIE STRUCT       18.500   6/22/2012     EUR    43.87
MACQUARIE STRUCT       23.250   6/22/2012     EUR     3.56
MACQUARIE STRUCT       13.000   6/22/2012     EUR    57.75
MACQUARIE STRUCT       13.500   6/22/2012     EUR    28.02
MACQUARIE STRUCT        9.000   9/28/2012     EUR    51.95
MACQUARIE STRUCT       10.250   6/22/2012     EUR    68.08
MACQUARIE STRUCT       10.250   6/22/2012     EUR    73.02
MACQUARIE STRUCT       10.750   6/22/2012     EUR    35.15
MACQUARIE STRUCT       11.000   6/22/2012     EUR    73.57
MACQUARIE STRUCT       11.000   6/22/2012     EUR    70.84
MACQUARIE STRUCT       11.000   6/22/2012     EUR    69.81
MACQUARIE STRUCT       11.000   6/22/2012     EUR    57.67
MACQUARIE STRUCT       11.500   6/22/2012     EUR    33.63
MACQUARIE STRUCT       11.500   6/22/2012     EUR    57.13
MACQUARIE STRUCT       11.500   6/22/2012     EUR    47.68
MACQUARIE STRUCT       11.750   6/22/2012     EUR    59.00
MACQUARIE STRUCT       11.750   6/22/2012     EUR    70.47
MACQUARIE STRUCT       11.750   6/22/2012     EUR    67.91
NORDDEUTSCHE L/B        7.000    6/8/2012     EUR    50.49
PRAKTIKER BAU-UN        5.875   2/10/2016     EUR    48.01
Q-CELLS                 6.750  10/21/2015     EUR     0.62
QIMONDA FINANCE         6.750   3/22/2013     USD     5.88
RENTENBANK              0.500   4/19/2017     ZAR    73.70
RENTENBANK              0.500   4/19/2017     TRY    70.89
RENTENBANK              0.500   3/15/2017     TRY    70.82
SOLARWORLD AG           6.125   1/21/2017     EUR    30.01
SOLARWORLD AG           6.375   7/13/2016     EUR    30.61
SOLON AG SOLAR          1.375   12/6/2012     EUR     1.16
TAG IMMO AG             6.500  12/10/2015     EUR     7.98
TUI AG                  5.500  11/17/2014     EUR    60.05
TUI AG                  2.750   3/24/2016     EUR    47.65
UNICREDIT BANK A        7.000   6/21/2012     EUR    46.70
VONTOBEL FIN PRO       11.764   9/28/2012     EUR    54.72
VONTOBEL FIN PRO       11.744   9/28/2012     EUR    71.42
VONTOBEL FIN PRO       11.698   9/28/2012     EUR    65.96
VONTOBEL FIN PRO       11.676   9/28/2012     EUR    44.82
VONTOBEL FIN PRO       11.676   9/28/2012     EUR    73.00
VONTOBEL FIN PRO       11.580   9/28/2012     EUR    69.32
VONTOBEL FIN PRO       11.577   9/28/2012     EUR    47.94
VONTOBEL FIN PRO       11.550   9/28/2012     EUR    65.02
VONTOBEL FIN PRO       11.533   9/28/2012     EUR    74.74
VONTOBEL FIN PRO       11.514   9/28/2012     EUR    64.02
VONTOBEL FIN PRO       11.502   9/28/2012     EUR    44.70
VONTOBEL FIN PRO       11.502   9/28/2012     EUR    42.36
VONTOBEL FIN PRO       11.497   9/28/2012     EUR    68.72
VONTOBEL FIN PRO       11.398   9/28/2012     EUR    69.76
VONTOBEL FIN PRO       11.357   9/28/2012     EUR    54.58
VONTOBEL FIN PRO       11.350   9/28/2012     EUR    68.74
VONTOBEL FIN PRO       11.297   9/28/2012     EUR    73.16
VONTOBEL FIN PRO       11.250   9/28/2012     EUR    70.96
VONTOBEL FIN PRO       11.245   9/28/2012     EUR    66.52
VONTOBEL FIN PRO       11.245   9/28/2012     EUR    72.14
VONTOBEL FIN PRO       11.241   9/28/2012     EUR    72.74
VONTOBEL FIN PRO       11.229   9/28/2012     EUR    60.66
VONTOBEL FIN PRO       11.197   9/28/2012     EUR    60.16
VONTOBEL FIN PRO       11.187   9/28/2012     EUR    56.92
VONTOBEL FIN PRO       11.145   9/28/2012     EUR    47.74
VONTOBEL FIN PRO       11.119   9/28/2012     EUR    56.50
VONTOBEL FIN PRO       11.119   9/28/2012     EUR    63.28
VONTOBEL FIN PRO       11.100   9/28/2012     EUR    73.30
VONTOBEL FIN PRO       11.100   9/28/2012     EUR    69.40
VONTOBEL FIN PRO       11.100   9/28/2012     EUR    64.26
VONTOBEL FIN PRO       11.077   9/28/2012     EUR    48.47
VONTOBEL FIN PRO       11.068   9/28/2012     EUR    66.38
VONTOBEL FIN PRO       11.035   9/28/2012     EUR    58.32
VONTOBEL FIN PRO       11.029   9/28/2012     EUR    73.94
VONTOBEL FIN PRO       11.028   9/28/2012     EUR    62.62
VONTOBEL FIN PRO       11.027   9/28/2012     EUR    66.00
VONTOBEL FIN PRO       11.017   9/28/2012     EUR    60.66
VONTOBEL FIN PRO       11.014   9/28/2012     EUR    72.06
VONTOBEL FIN PRO       10.989   9/28/2012     EUR    55.86
VONTOBEL FIN PRO       10.971   9/28/2012     EUR    61.12
VONTOBEL FIN PRO       10.915   9/28/2012     EUR    59.20
VONTOBEL FIN PRO       10.909   9/28/2012     EUR    58.58
VONTOBEL FIN PRO       10.905   9/28/2012     EUR    63.50
VONTOBEL FIN PRO       10.850   9/28/2012     EUR    58.30
VONTOBEL FIN PRO       10.830   9/28/2012     EUR    46.38
VONTOBEL FIN PRO       10.830   9/28/2012     EUR    64.38
VONTOBEL FIN PRO       10.830   9/28/2012     EUR    50.42
VONTOBEL FIN PRO       10.825   9/28/2012     EUR    64.78
VONTOBEL FIN PRO       10.755   9/28/2012     EUR    67.36
VONTOBEL FIN PRO       10.722   9/28/2012     EUR    62.98
VONTOBEL FIN PRO       10.678   9/28/2012     EUR    58.90
VONTOBEL FIN PRO       10.650   9/28/2012     EUR    74.98
VONTOBEL FIN PRO       10.600   9/28/2012     EUR    70.82
VONTOBEL FIN PRO       10.600   9/28/2012     EUR    57.16
VONTOBEL FIN PRO       10.556   9/28/2012     EUR    39.24
VONTOBEL FIN PRO       10.539   9/28/2012     EUR    50.16
VONTOBEL FIN PRO       10.494   9/28/2012     EUR    43.32
VONTOBEL FIN PRO       10.456   9/28/2012     EUR    71.07
VONTOBEL FIN PRO       10.448   9/28/2012     EUR    74.32
VONTOBEL FIN PRO       10.404   9/28/2012     EUR    71.22
VONTOBEL FIN PRO       10.366   9/28/2012     EUR    53.98
VONTOBEL FIN PRO       10.344   9/28/2012     EUR    50.10
VONTOBEL FIN PRO       10.336   9/28/2012     EUR    48.82
VONTOBEL FIN PRO       10.320   9/28/2012     EUR    66.10
VONTOBEL FIN PRO       10.286   9/28/2012     EUR    74.16
VONTOBEL FIN PRO       10.242   9/28/2012     EUR    72.24
VONTOBEL FIN PRO       10.241   9/28/2012     EUR    71.76
VONTOBEL FIN PRO       10.155   9/28/2012     EUR    66.06
VONTOBEL FIN PRO       10.123   9/28/2012     EUR    52.92
VONTOBEL FIN PRO       10.083   9/28/2012     EUR    55.66
VONTOBEL FIN PRO       10.083   9/28/2012     EUR    66.80
VONTOBEL FIN PRO       10.083   9/28/2012     EUR    73.58
VONTOBEL FIN PRO       10.070   9/28/2012     EUR    72.48
VONTOBEL FIN PRO       10.046   9/28/2012     EUR    62.28
VONTOBEL FIN PRO       10.046   9/28/2012     EUR    55.44
VONTOBEL FIN PRO       10.024   9/28/2012     EUR    74.06
VONTOBEL FIN PRO       10.014   9/28/2012     EUR    45.84
VONTOBEL FIN PRO       10.000   9/28/2012     EUR    53.56
VONTOBEL FIN PRO        9.986   9/28/2012     EUR    71.28
VONTOBEL FIN PRO        9.950   9/28/2012     EUR    51.60
VONTOBEL FIN PRO        9.926   9/28/2012     EUR    57.74
VONTOBEL FIN PRO        9.900   9/28/2012     EUR    66.42
VONTOBEL FIN PRO        9.900   9/28/2012     EUR    71.68
VONTOBEL FIN PRO        9.877   9/28/2012     EUR    50.88
VONTOBEL FIN PRO        9.860   9/28/2012     EUR    71.42
VONTOBEL FIN PRO        9.803   9/28/2012     EUR    63.72
VONTOBEL FIN PRO        9.803   9/28/2012     EUR    63.72
VONTOBEL FIN PRO        9.776   9/28/2012     EUR    59.66
VONTOBEL FIN PRO        9.730   9/28/2012     EUR    74.10
VONTOBEL FIN PRO        9.700   9/28/2012     EUR    74.62
VONTOBEL FIN PRO        9.700   9/28/2012     EUR    74.38
VONTOBEL FIN PRO        9.672   9/28/2012     EUR    52.04
VONTOBEL FIN PRO       12.761   9/28/2012     EUR    50.64
VONTOBEL FIN PRO        9.634   9/28/2012     EUR    48.82
VONTOBEL FIN PRO        9.557   9/28/2012     EUR    66.60
VONTOBEL FIN PRO        9.532   9/28/2012     EUR    69.30
VONTOBEL FIN PRO        9.523   9/28/2012     EUR    44.36
VONTOBEL FIN PRO        9.523   9/28/2012     EUR    58.96
VONTOBEL FIN PRO        9.492   9/28/2012     EUR    59.62
VONTOBEL FIN PRO        9.446   9/28/2012     EUR    74.66
VONTOBEL FIN PRO        9.411   9/28/2012     EUR    67.88
VONTOBEL FIN PRO        9.405   9/28/2012     EUR    65.08
VONTOBEL FIN PRO        9.400   9/28/2012     EUR    58.85
VONTOBEL FIN PRO        9.386   9/28/2012     EUR    63.62
VONTOBEL FIN PRO        9.350   9/28/2012     EUR    72.04
VONTOBEL FIN PRO        9.345   9/28/2012     EUR    62.04
VONTOBEL FIN PRO        9.335   9/28/2012     EUR    69.96
VONTOBEL FIN PRO        9.324   9/28/2012     EUR    67.12
VONTOBEL FIN PRO        9.284   9/28/2012     EUR    55.68
VONTOBEL FIN PRO        9.273   9/28/2012     EUR    60.88
VONTOBEL FIN PRO        9.112   9/28/2012     EUR    64.04
VONTOBEL FIN PRO        9.100   9/28/2012     EUR    72.42
VONTOBEL FIN PRO        9.099   9/28/2012     EUR    68.68
VONTOBEL FIN PRO        9.081   9/28/2012     EUR    71.54
VONTOBEL FIN PRO        9.063   9/28/2012     EUR    68.52
VONTOBEL FIN PRO        9.037   9/28/2012     EUR    52.92
VONTOBEL FIN PRO        9.037   9/28/2012     EUR    47.86
VONTOBEL FIN PRO        9.037   9/28/2012     EUR    71.38
VONTOBEL FIN PRO        9.030   9/28/2012     EUR    71.14
VONTOBEL FIN PRO        8.980   9/28/2012     EUR    68.66
VONTOBEL FIN PRO        8.937   9/28/2012     EUR    73.60
VONTOBEL FIN PRO        8.878   9/28/2012     EUR    67.00
VONTOBEL FIN PRO        8.862   9/28/2012     EUR    68.80
VONTOBEL FIN PRO        8.838   9/28/2012     EUR    73.80
VONTOBEL FIN PRO        8.786   9/28/2012     EUR    58.56
VONTOBEL FIN PRO        8.739   9/28/2012     EUR    59.78
VONTOBEL FIN PRO        8.705   9/28/2012     EUR    61.56
VONTOBEL FIN PRO        8.657   9/28/2012     EUR    64.98
VONTOBEL FIN PRO        8.626   9/28/2012     EUR    57.76
VONTOBEL FIN PRO        8.620   9/28/2012     EUR    53.28
VONTOBEL FIN PRO        8.581   9/28/2012     EUR    52.78
VONTOBEL FIN PRO        8.542   9/28/2012     EUR    64.68
VONTOBEL FIN PRO        8.529   9/28/2012     EUR    68.26
VONTOBEL FIN PRO        8.515   9/28/2012     EUR    68.50
VONTOBEL FIN PRO        8.440   9/28/2012     EUR    53.88
VONTOBEL FIN PRO        8.392   9/28/2012     EUR    74.20
VONTOBEL FIN PRO        8.308   9/28/2012     EUR    70.76
VONTOBEL FIN PRO        8.250   9/28/2012     EUR    70.44
VONTOBEL FIN PRO        8.242   9/28/2012     EUR    73.06
VONTOBEL FIN PRO        8.239   9/28/2012     EUR    70.96
VONTOBEL FIN PRO        8.232   9/28/2012     EUR    71.84
VONTOBEL FIN PRO        8.216   9/28/2012     EUR    65.98
VONTOBEL FIN PRO        8.200   9/28/2012     EUR    64.40
VONTOBEL FIN PRO        8.174   9/28/2012     EUR    54.30
VONTOBEL FIN PRO        8.121   9/28/2012     EUR    57.92
VONTOBEL FIN PRO        8.100   9/28/2012     EUR    69.20
VONTOBEL FIN PRO        8.030   9/28/2012     EUR    73.47
VONTOBEL FIN PRO        8.000   9/28/2012     EUR    73.47
VONTOBEL FIN PRO        7.950   9/28/2012     EUR    68.24
VONTOBEL FIN PRO        7.939   9/28/2012     EUR    73.45
VONTOBEL FIN PRO        7.867   9/28/2012     EUR    63.56
VONTOBEL FIN PRO        7.800   9/28/2012     EUR    73.14
VONTOBEL FIN PRO        7.788   9/28/2012     EUR    73.39
VONTOBEL FIN PRO        7.758   9/28/2012     EUR    73.54
VONTOBEL FIN PRO        7.485   9/28/2012     EUR    73.25
VONTOBEL FIN PRO        7.432   9/28/2012     EUR    55.86
VONTOBEL FIN PRO        7.427   9/28/2012     EUR    62.60
VONTOBEL FIN PRO        7.369   9/28/2012     EUR    73.66
VONTOBEL FIN PRO        7.350   9/28/2012     EUR    67.06
VONTOBEL FIN PRO        7.286   9/28/2012     EUR    70.34
VONTOBEL FIN PRO        7.061   9/28/2012     EUR    73.13
VONTOBEL FIN PRO        6.771   9/28/2012     EUR    72.12
VONTOBEL FIN PRO        5.829   9/28/2012     EUR    65.52
VONTOBEL FIN PRO       12.200   8/24/2012     EUR    70.62
VONTOBEL FIN PRO       11.050   8/24/2012     EUR    64.92
VONTOBEL FIN PRO       10.900   8/24/2012     EUR    67.02
VONTOBEL FIN PRO        8.750   8/24/2012     EUR    73.98
VONTOBEL FIN PRO        8.700   8/24/2012     EUR    72.08
VONTOBEL FIN PRO        8.550   8/24/2012     EUR    69.82
VONTOBEL FIN PRO       11.564   8/10/2012     EUR    64.90
VONTOBEL FIN PRO       11.850    8/3/2012     EUR    70.90
VONTOBEL FIN PRO        9.000    8/3/2012     EUR    73.57
VONTOBEL FIN PRO        7.600    8/3/2012     EUR    70.52
VONTOBEL FIN PRO       12.864   7/27/2012     EUR    57.50
VONTOBEL FIN PRO       11.564   7/27/2012     EUR    52.60
VONTOBEL FIN PRO       11.073   7/27/2012     EUR    72.80
VONTOBEL FIN PRO       10.559   7/27/2012     EUR    71.40
VONTOBEL FIN PRO        9.674   7/27/2012     EUR    72.06
VONTOBEL FIN PRO        8.711   7/27/2012     EUR    70.84
VONTOBEL FIN PRO        7.797   7/27/2012     EUR    70.84
VONTOBEL FIN PRO       11.665   7/20/2012     EUR    60.60
VONTOBEL FIN PRO       11.061   7/20/2012     EUR    56.90
VONTOBEL FIN PRO       10.860   7/20/2012     EUR    47.60
VONTOBEL FIN PRO       11.061   7/13/2012     EUR    57.60
VONTOBEL FIN PRO       10.860   7/13/2012     EUR    62.30
VONTOBEL FIN PRO       11.514    7/6/2012     EUR    48.40
VONTOBEL FIN PRO       10.860    7/6/2012     EUR    70.40
VONTOBEL FIN PRO       12.067   6/29/2012     EUR    52.50
VONTOBEL FIN PRO       12.067   6/29/2012     EUR    43.40
VONTOBEL FIN PRO       10.559   6/29/2012     EUR    71.10
VONTOBEL FIN PRO       28.050   6/22/2012     EUR    67.20
VONTOBEL FIN PRO       24.150   6/22/2012     EUR    66.38
VONTOBEL FIN PRO       23.300   6/22/2012     EUR    60.72
VONTOBEL FIN PRO       22.800   6/22/2012     EUR    43.80
VONTOBEL FIN PRO       21.850   6/22/2012     EUR    71.12
VONTOBEL FIN PRO       21.650   6/22/2012     EUR    74.30
VONTOBEL FIN PRO       21.456   6/22/2012     EUR    39.70
VONTOBEL FIN PRO       20.350   6/22/2012     EUR    71.94
VONTOBEL FIN PRO       20.200   6/22/2012     EUR    72.76
VONTOBEL FIN PRO       19.950   6/22/2012     EUR    69.14
VONTOBEL FIN PRO       19.350   6/22/2012     EUR    51.66
VONTOBEL FIN PRO       19.150   6/22/2012     EUR    51.76
VONTOBEL FIN PRO       18.650   6/22/2012     EUR    69.98
VONTOBEL FIN PRO       18.295   6/22/2012     EUR    38.26
VONTOBEL FIN PRO        9.650   9/28/2012     EUR    72.94
VONTOBEL FIN PRO       18.164   6/22/2012     EUR    14.44
VONTOBEL FIN PRO       18.150   6/22/2012     EUR    63.84
VONTOBEL FIN PRO       18.050   6/22/2012     EUR    72.68
VONTOBEL FIN PRO        9.101   5/18/2012     EUR    72.10
VONTOBEL FIN PRO       10.358   5/18/2012     EUR    74.30
VONTOBEL FIN PRO       10.961   5/18/2012     EUR    48.60
VONTOBEL FIN PRO       12.168   5/18/2012     EUR    30.20
VONTOBEL FIN PRO       10.056   5/25/2012     EUR    69.60
VONTOBEL FIN PRO       11.564   5/25/2012     EUR    38.00
VONTOBEL FIN PRO       10.307    6/1/2012     EUR    73.20
VONTOBEL FIN PRO       10.358    6/1/2012     EUR    54.60
VONTOBEL FIN PRO       12.369    6/1/2012     EUR    28.40
VONTOBEL FIN PRO        7.889    6/6/2012     EUR    56.50
VONTOBEL FIN PRO       10.056    6/8/2012     EUR    66.00
VONTOBEL FIN PRO       11.464    6/8/2012     EUR    61.10
VONTOBEL FIN PRO       10.358   6/15/2012     EUR    40.60
VONTOBEL FIN PRO       10.458   6/15/2012     EUR    46.20
VONTOBEL FIN PRO       11.615   6/15/2012     EUR    56.40
VONTOBEL FIN PRO        5.249   6/22/2012     EUR    72.62
VONTOBEL FIN PRO        6.135   6/22/2012     EUR    73.91
VONTOBEL FIN PRO        6.444   6/22/2012     EUR    63.48
VONTOBEL FIN PRO        6.697   6/22/2012     EUR    68.92
VONTOBEL FIN PRO        6.876   6/22/2012     EUR    52.52
VONTOBEL FIN PRO        6.948   6/22/2012     EUR    64.62
VONTOBEL FIN PRO        7.000   6/22/2012     EUR    73.14
VONTOBEL FIN PRO        7.010   6/22/2012     EUR    56.32
VONTOBEL FIN PRO       18.036   6/22/2012     EUR    42.88
VONTOBEL FIN PRO       17.950   6/22/2012     EUR    43.70
VONTOBEL FIN PRO       17.800   6/22/2012     EUR    54.48
VONTOBEL FIN PRO       17.784   6/22/2012     EUR    40.54
VONTOBEL FIN PRO       17.712   6/22/2012     EUR    14.68
VONTOBEL FIN PRO       17.500   6/22/2012     EUR    69.80
VONTOBEL FIN PRO       17.400   6/22/2012     EUR    72.14
VONTOBEL FIN PRO       17.333   6/22/2012     EUR    34.84
VONTOBEL FIN PRO       17.260   6/22/2012     EUR    14.28
VONTOBEL FIN PRO        5.100   4/14/2014     EUR    38.60
VONTOBEL FIN PRO        5.474   3/17/2014     EUR    68.20
VONTOBEL FIN PRO        7.389  11/25/2013     EUR    29.60
VONTOBEL FIN PRO        8.000   6/28/2013     EUR    68.52
VONTOBEL FIN PRO        6.000   6/28/2013     EUR    56.86
VONTOBEL FIN PRO        4.000   6/28/2013     EUR    46.54
VONTOBEL FIN PRO       20.900   3/22/2013     EUR    63.04
VONTOBEL FIN PRO       18.550   3/22/2013     EUR    72.90
VONTOBEL FIN PRO       18.500   3/22/2013     EUR    72.80
VONTOBEL FIN PRO       18.350   3/22/2013     EUR    66.78
VONTOBEL FIN PRO       17.950   3/22/2013     EUR    67.72
VONTOBEL FIN PRO       17.400   3/22/2013     EUR    57.76
VONTOBEL FIN PRO       16.850   3/22/2013     EUR    73.84
VONTOBEL FIN PRO       14.500   3/22/2013     EUR    59.70
VONTOBEL FIN PRO       14.200   3/22/2013     EUR    70.10
VONTOBEL FIN PRO       14.000   3/22/2013     EUR    70.66
VONTOBEL FIN PRO       13.200   3/22/2013     EUR    70.28
VONTOBEL FIN PRO       13.150   3/22/2013     EUR    73.20
VONTOBEL FIN PRO       12.000   3/22/2013     EUR    71.66
VONTOBEL FIN PRO       11.850   3/22/2013     EUR    62.66
VONTOBEL FIN PRO       11.150   3/22/2013     EUR    63.84
VONTOBEL FIN PRO       10.750   3/22/2013     EUR    74.14
VONTOBEL FIN PRO       10.300   3/22/2013     EUR    74.88
VONTOBEL FIN PRO        9.950   3/22/2013     EUR    73.02
VONTOBEL FIN PRO        9.750   3/22/2013     EUR    70.66
VONTOBEL FIN PRO        9.500   3/22/2013     EUR    64.26
VONTOBEL FIN PRO        8.850   3/22/2013     EUR    66.90
VONTOBEL FIN PRO        8.600   3/22/2013     EUR    71.10
VONTOBEL FIN PRO        8.550   3/22/2013     EUR    66.12
VONTOBEL FIN PRO        6.800   3/22/2013     EUR    72.40
VONTOBEL FIN PRO        6.750   3/22/2013     EUR    70.82
VONTOBEL FIN PRO       10.100    3/8/2013     EUR    65.70
VONTOBEL FIN PRO       10.930    1/2/2013     EUR    40.52
VONTOBEL FIN PRO       10.093    1/2/2013     EUR    68.29
VONTOBEL FIN PRO        9.931    1/2/2013     EUR    74.24
VONTOBEL FIN PRO        8.987    1/2/2013     EUR    32.67
VONTOBEL FIN PRO        8.393    1/2/2013     EUR    73.36
VONTOBEL FIN PRO        8.069    1/2/2013     EUR    66.87
VONTOBEL FIN PRO        8.042    1/2/2013     EUR    61.38
VONTOBEL FIN PRO       28.250  12/31/2012     EUR    52.30
VONTOBEL FIN PRO       27.600  12/31/2012     EUR    54.68
VONTOBEL FIN PRO       24.900  12/31/2012     EUR    65.02
VONTOBEL FIN PRO       24.700  12/31/2012     EUR    56.02
VONTOBEL FIN PRO       22.900  12/31/2012     EUR    72.30
VONTOBEL FIN PRO       22.600  12/31/2012     EUR    54.40
VONTOBEL FIN PRO       21.950  12/31/2012     EUR    71.74
VONTOBEL FIN PRO       21.800  12/31/2012     EUR    58.76
VONTOBEL FIN PRO       21.200  12/31/2012     EUR    66.56
VONTOBEL FIN PRO       20.650  12/31/2012     EUR    70.76
VONTOBEL FIN PRO       19.600  12/31/2012     EUR    72.58
VONTOBEL FIN PRO       18.900  12/31/2012     EUR    62.34
VONTOBEL FIN PRO       18.850  12/31/2012     EUR    61.22
VONTOBEL FIN PRO       18.750  12/31/2012     EUR    72.06
VONTOBEL FIN PRO       18.200  12/31/2012     EUR    74.50
VONTOBEL FIN PRO       18.050  12/31/2012     EUR    71.38
VONTOBEL FIN PRO       17.350  12/31/2012     EUR    73.96
VONTOBEL FIN PRO       17.100  12/31/2012     EUR    60.00
VONTOBEL FIN PRO       17.050  12/31/2012     EUR    64.02
VONTOBEL FIN PRO       16.950  12/31/2012     EUR    65.60
VONTOBEL FIN PRO       16.850  12/31/2012     EUR    51.52
VONTOBEL FIN PRO       16.750  12/31/2012     EUR    73.52
VONTOBEL FIN PRO       16.350  12/31/2012     EUR    56.32
VONTOBEL FIN PRO       16.150  12/31/2012     EUR    71.00
VONTOBEL FIN PRO       16.050  12/31/2012     EUR    74.16
VONTOBEL FIN PRO       15.850  12/31/2012     EUR    70.04
VONTOBEL FIN PRO       15.600  12/31/2012     EUR    73.76
VONTOBEL FIN PRO       15.250  12/31/2012     EUR    66.06
VONTOBEL FIN PRO       15.250  12/31/2012     EUR    66.16
VONTOBEL FIN PRO       15.150  12/31/2012     EUR    74.02
VONTOBEL FIN PRO       14.850  12/31/2012     EUR    65.92
VONTOBEL FIN PRO       14.750  12/31/2012     EUR    68.84
VONTOBEL FIN PRO       14.750  12/31/2012     EUR    59.02
VONTOBEL FIN PRO       14.700  12/31/2012     EUR    73.70
VONTOBEL FIN PRO       14.550  12/31/2012     EUR    73.74
VONTOBEL FIN PRO       14.505  12/31/2012     EUR    64.30
VONTOBEL FIN PRO       14.450  12/31/2012     EUR    74.80
VONTOBEL FIN PRO       14.300  12/31/2012     EUR    57.02
VONTOBEL FIN PRO       14.211  12/31/2012     EUR    42.52
VONTOBEL FIN PRO       14.150  12/31/2012     EUR    44.36
VONTOBEL FIN PRO       14.100  12/31/2012     EUR    70.56
VONTOBEL FIN PRO       14.000  12/31/2012     EUR    67.80
VONTOBEL FIN PRO       13.860  12/31/2012     EUR    66.74
VONTOBEL FIN PRO       13.579  12/31/2012     EUR    61.92
VONTOBEL FIN PRO       13.550  12/31/2012     EUR    74.94
VONTOBEL FIN PRO       13.550  12/31/2012     EUR    63.96
VONTOBEL FIN PRO       13.518  12/31/2012     EUR    70.14
VONTOBEL FIN PRO       13.500  12/31/2012     EUR    68.60
VONTOBEL FIN PRO       13.474  12/31/2012     EUR    71.04
VONTOBEL FIN PRO       13.411  12/31/2012     EUR    57.00
VONTOBEL FIN PRO       13.250  12/31/2012     EUR    62.32
VONTOBEL FIN PRO       13.200  12/31/2012     EUR    67.36
VONTOBEL FIN PRO       13.123  12/31/2012     EUR    23.46
VONTOBEL FIN PRO       13.050  12/31/2012     EUR    64.72
VONTOBEL FIN PRO       13.000  12/31/2012     EUR    68.80
VONTOBEL FIN PRO       12.912  12/31/2012     EUR    43.72
VONTOBEL FIN PRO       12.900  12/31/2012     EUR    59.20
VONTOBEL FIN PRO       12.877  12/31/2012     EUR    74.58
VONTOBEL FIN PRO       12.850  12/31/2012     EUR    71.66
VONTOBEL FIN PRO       12.800  12/31/2012     EUR    62.50
VONTOBEL FIN PRO       12.650  12/31/2012     EUR    63.84
VONTOBEL FIN PRO       12.650  12/31/2012     EUR    46.36
VONTOBEL FIN PRO       12.593  12/31/2012     EUR    48.32
VONTOBEL FIN PRO       12.550  12/31/2012     EUR    74.44
VONTOBEL FIN PRO       12.550  12/31/2012     EUR    69.16
VONTOBEL FIN PRO       12.501  12/31/2012     EUR    50.03
VONTOBEL FIN PRO       12.451  12/31/2012     EUR    66.98
VONTOBEL FIN PRO       12.433  12/31/2012     EUR    66.38
VONTOBEL FIN PRO       12.250  12/31/2012     EUR    64.46
VONTOBEL FIN PRO       12.246  12/31/2012     EUR    69.62
VONTOBEL FIN PRO       12.211  12/31/2012     EUR    66.02
VONTOBEL FIN PRO       12.023  12/31/2012     EUR    68.32
VONTOBEL FIN PRO       12.000  12/31/2012     EUR    62.28
VONTOBEL FIN PRO       11.950  12/31/2012     EUR    69.78
VONTOBEL FIN PRO       11.900  12/31/2012     EUR    72.42
VONTOBEL FIN PRO       11.895  12/31/2012     EUR    60.80
VONTOBEL FIN PRO       11.850  12/31/2012     EUR    65.18
VONTOBEL FIN PRO       11.790  12/31/2012     EUR    48.68
VONTOBEL FIN PRO       11.784  12/31/2012     EUR    55.67
VONTOBEL FIN PRO       11.754  12/31/2012     EUR    73.86
VONTOBEL FIN PRO       11.750  12/31/2012     EUR    72.98
VONTOBEL FIN PRO       11.700  12/31/2012     EUR    66.94
VONTOBEL FIN PRO       11.684  12/31/2012     EUR    64.04
VONTOBEL FIN PRO       11.668  12/31/2012     EUR    59.16
VONTOBEL FIN PRO       11.649  12/31/2012     EUR    45.18
VONTOBEL FIN PRO       11.476  12/31/2012     EUR    49.41
VONTOBEL FIN PRO       11.450  12/31/2012     EUR    64.08
VONTOBEL FIN PRO       11.450  12/31/2012     EUR    74.74
VONTOBEL FIN PRO       11.445  12/31/2012     EUR    59.80
VONTOBEL FIN PRO       11.404  12/31/2012     EUR    61.64
VONTOBEL FIN PRO       11.400  12/31/2012     EUR    72.86
VONTOBEL FIN PRO       11.400  12/31/2012     EUR    66.66
VONTOBEL FIN PRO       11.368  12/31/2012     EUR    74.84
VONTOBEL FIN PRO       11.348  12/31/2012     EUR    68.98
VONTOBEL FIN PRO       11.193  12/31/2012     EUR    67.30
VONTOBEL FIN PRO       11.170  12/31/2012     EUR    50.30
VONTOBEL FIN PRO       10.912  12/31/2012     EUR    72.86
VONTOBEL FIN PRO       10.912  12/31/2012     EUR    62.52
VONTOBEL FIN PRO       10.900  12/31/2012     EUR    56.48
VONTOBEL FIN PRO       10.807  12/31/2012     EUR    56.28
VONTOBEL FIN PRO       10.807  12/31/2012     EUR    23.08
VONTOBEL FIN PRO       10.800  12/31/2012     EUR    66.76
VONTOBEL FIN PRO       10.702  12/31/2012     EUR    72.26
VONTOBEL FIN PRO       10.700  12/31/2012     EUR    70.28
VONTOBEL FIN PRO       10.700  12/31/2012     EUR    70.38
VONTOBEL FIN PRO       10.621  12/31/2012     EUR    71.93
VONTOBEL FIN PRO       10.611  12/31/2012     EUR    74.28
VONTOBEL FIN PRO       10.500  12/31/2012     EUR    48.00
VONTOBEL FIN PRO       10.456  12/31/2012     EUR    63.46
VONTOBEL FIN PRO       10.421  12/31/2012     EUR    50.14
VONTOBEL FIN PRO       10.352  12/31/2012     EUR    73.78
VONTOBEL FIN PRO       10.351  12/31/2012     EUR    66.66
VONTOBEL FIN PRO       10.351  12/31/2012     EUR    66.70
VONTOBEL FIN PRO       10.281  12/31/2012     EUR    73.92
VONTOBEL FIN PRO       10.231  12/31/2012     EUR    62.46
VONTOBEL FIN PRO       10.211  12/31/2012     EUR    68.70
VONTOBEL FIN PRO       10.207  12/31/2012     EUR    60.16
VONTOBEL FIN PRO       10.200  12/31/2012     EUR    70.24
VONTOBEL FIN PRO       10.175  12/31/2012     EUR    47.14
VONTOBEL FIN PRO       10.140  12/31/2012     EUR    73.34
VONTOBEL FIN PRO       10.105  12/31/2012     EUR    64.10
VONTOBEL FIN PRO       10.100  12/31/2012     EUR    69.86
VONTOBEL FIN PRO       10.050  12/31/2012     EUR    58.92
VONTOBEL FIN PRO       10.035  12/31/2012     EUR    68.22
VONTOBEL FIN PRO        9.965  12/31/2012     EUR    66.10
VONTOBEL FIN PRO        9.950  12/31/2012     EUR    67.16
VONTOBEL FIN PRO        9.856  12/31/2012     EUR    67.52
VONTOBEL FIN PRO        9.850  12/31/2012     EUR    70.90
VONTOBEL FIN PRO        9.841  12/31/2012     EUR    52.20
VONTOBEL FIN PRO        9.825  12/31/2012     EUR    65.26
VONTOBEL FIN PRO        9.800  12/31/2012     EUR    70.92
VONTOBEL FIN PRO        9.754  12/31/2012     EUR    57.98
VONTOBEL FIN PRO        9.754  12/31/2012     EUR    47.48
VONTOBEL FIN PRO        9.700  12/31/2012     EUR    54.34
VONTOBEL FIN PRO        9.700  12/31/2012     EUR    63.56
VONTOBEL FIN PRO        9.682  12/31/2012     EUR    73.20
VONTOBEL FIN PRO        9.650  12/31/2012     EUR    74.22
VONTOBEL FIN PRO        9.649  12/31/2012     EUR    75.00
VONTOBEL FIN PRO        9.605  12/31/2012     EUR    63.16
VONTOBEL FIN PRO        9.600  12/31/2012     EUR    74.76
VONTOBEL FIN PRO        9.509  12/31/2012     EUR    65.20
VONTOBEL FIN PRO        9.400  12/31/2012     EUR    73.84
VONTOBEL FIN PRO        9.400  12/31/2012     EUR    74.34
VONTOBEL FIN PRO        9.333  12/31/2012     EUR    71.12
VONTOBEL FIN PRO        9.300  12/31/2012     EUR    70.38
VONTOBEL FIN PRO        9.250  12/31/2012     EUR    53.90
VONTOBEL FIN PRO        9.193  12/31/2012     EUR    48.04
VONTOBEL FIN PRO        9.188  12/31/2012     EUR    74.77
VONTOBEL FIN PRO        9.150  12/31/2012     EUR    69.78
VONTOBEL FIN PRO        9.123  12/31/2012     EUR    51.92
VONTOBEL FIN PRO        9.123  12/31/2012     EUR    69.52
VONTOBEL FIN PRO        8.950  12/31/2012     EUR    69.20
VONTOBEL FIN PRO        8.950  12/31/2012     EUR    56.86
VONTOBEL FIN PRO        8.912  12/31/2012     EUR    66.34
VONTOBEL FIN PRO        8.900  12/31/2012     EUR    72.40
VONTOBEL FIN PRO        8.895  12/31/2012     EUR    63.68
VONTOBEL FIN PRO        8.877  12/31/2012     EUR    60.74
VONTOBEL FIN PRO        8.842  12/31/2012     EUR    69.82
VONTOBEL FIN PRO        8.737  12/31/2012     EUR    67.30
VONTOBEL FIN PRO        8.737  12/31/2012     EUR    59.90
VONTOBEL FIN PRO        8.702  12/31/2012     EUR    68.10
VONTOBEL FIN PRO        8.650  12/31/2012     EUR    69.32
VONTOBEL FIN PRO        8.526  12/31/2012     EUR    22.90
VONTOBEL FIN PRO        8.334  12/31/2012     EUR    74.72
VONTOBEL FIN PRO        8.316  12/31/2012     EUR    72.82
VONTOBEL FIN PRO        8.300  12/31/2012     EUR    50.68
VONTOBEL FIN PRO        8.246  12/31/2012     EUR    49.06
VONTOBEL FIN PRO        8.230  12/31/2012     EUR    55.74
VONTOBEL FIN PRO        8.200  12/31/2012     EUR    74.72
VONTOBEL FIN PRO        8.163  12/31/2012     EUR    58.68
VONTOBEL FIN PRO        8.050  12/31/2012     EUR    62.40
VONTOBEL FIN PRO        8.039  12/31/2012     EUR    70.98
VONTOBEL FIN PRO        8.019  12/31/2012     EUR    68.24
VONTOBEL FIN PRO        7.850  12/31/2012     EUR    71.46
VONTOBEL FIN PRO        7.754  12/31/2012     EUR    71.64
VONTOBEL FIN PRO        7.719  12/31/2012     EUR    69.60
VONTOBEL FIN PRO        7.509  12/31/2012     EUR    70.32
VONTOBEL FIN PRO        7.494  12/31/2012     EUR    65.98
VONTOBEL FIN PRO        7.400  12/31/2012     EUR    62.34
VONTOBEL FIN PRO        7.368  12/31/2012     EUR    72.82
VONTOBEL FIN PRO        7.368  12/31/2012     EUR    74.66
VONTOBEL FIN PRO        7.241  12/31/2012     EUR    74.04
VONTOBEL FIN PRO        7.150  12/31/2012     EUR    71.48
VONTOBEL FIN PRO        7.050  12/31/2012     EUR    70.18
VONTOBEL FIN PRO        6.421  12/31/2012     EUR    72.82
VONTOBEL FIN PRO        6.175  12/31/2012     EUR    66.92
VONTOBEL FIN PRO        5.006  12/28/2012     EUR    52.42
VONTOBEL FIN PRO       11.500  12/14/2012     EUR     7.05
VONTOBEL FIN PRO       28.900   9/28/2012     EUR    52.98
VONTOBEL FIN PRO       28.700   9/28/2012     EUR    61.34
VONTOBEL FIN PRO       28.350   9/28/2012     EUR    69.52
VONTOBEL FIN PRO       27.550   9/28/2012     EUR    52.44
VONTOBEL FIN PRO       26.650   9/28/2012     EUR    68.94
VONTOBEL FIN PRO       25.700   9/28/2012     EUR    58.50
VONTOBEL FIN PRO       25.200   9/28/2012     EUR    55.54
VONTOBEL FIN PRO       24.450   9/28/2012     EUR    73.96
VONTOBEL FIN PRO       24.250   9/28/2012     EUR    73.90
VONTOBEL FIN PRO       23.450   9/28/2012     EUR    70.16
VONTOBEL FIN PRO       23.300   9/28/2012     EUR    72.84
VONTOBEL FIN PRO       22.050   9/28/2012     EUR    54.40
VONTOBEL FIN PRO       21.550   9/28/2012     EUR    59.84
VONTOBEL FIN PRO       21.500   9/28/2012     EUR    58.78
VONTOBEL FIN PRO       21.350   9/28/2012     EUR    69.98
VONTOBEL FIN PRO       20.950   9/28/2012     EUR    58.48
VONTOBEL FIN PRO       20.750   9/28/2012     EUR    69.90
VONTOBEL FIN PRO       20.400   9/28/2012     EUR    56.92
VONTOBEL FIN PRO       20.000   9/28/2012     EUR    71.14
VONTOBEL FIN PRO       19.250   9/28/2012     EUR    62.10
VONTOBEL FIN PRO       19.000   9/28/2012     EUR    53.64
VONTOBEL FIN PRO       18.900   9/28/2012     EUR    74.32
VONTOBEL FIN PRO       18.800   9/28/2012     EUR    59.84
VONTOBEL FIN PRO       18.250   9/28/2012     EUR    75.00
VONTOBEL FIN PRO       18.100   9/28/2012     EUR    64.32
VONTOBEL FIN PRO       17.100   9/28/2012     EUR    64.74
VONTOBEL FIN PRO       17.000   9/28/2012     EUR    42.86
VONTOBEL FIN PRO       16.900   9/28/2012     EUR    71.40
VONTOBEL FIN PRO       16.850   9/28/2012     EUR    73.40
VONTOBEL FIN PRO       16.850   9/28/2012     EUR    61.96
VONTOBEL FIN PRO       16.850   9/28/2012     EUR    68.36
VONTOBEL FIN PRO       16.437   9/28/2012     EUR    72.26
VONTOBEL FIN PRO       16.400   9/28/2012     EUR    72.30
VONTOBEL FIN PRO       16.350   9/28/2012     EUR    66.90
VONTOBEL FIN PRO       16.337   9/28/2012     EUR    60.84
VONTOBEL FIN PRO       16.200   9/28/2012     EUR    72.28
VONTOBEL FIN PRO       16.200   9/28/2012     EUR    65.34
VONTOBEL FIN PRO       16.183   9/28/2012     EUR    42.40
VONTOBEL FIN PRO       16.050   9/28/2012     EUR    73.98
VONTOBEL FIN PRO       16.000   9/28/2012     EUR    55.92
VONTOBEL FIN PRO       15.700   9/28/2012     EUR    62.60
VONTOBEL FIN PRO       15.200   9/28/2012     EUR    69.60
VONTOBEL FIN PRO       15.169   9/28/2012     EUR    72.40
VONTOBEL FIN PRO       15.150   9/28/2012     EUR    73.14
VONTOBEL FIN PRO       15.000   9/28/2012     EUR    74.00
VONTOBEL FIN PRO       15.000   9/28/2012     EUR    64.82
VONTOBEL FIN PRO       14.957   9/28/2012     EUR    60.62
VONTOBEL FIN PRO       14.950   9/28/2012     EUR    67.74
VONTOBEL FIN PRO       14.906   9/28/2012     EUR    53.50
VONTOBEL FIN PRO       14.900   9/28/2012     EUR    57.52
VONTOBEL FIN PRO       14.895   9/28/2012     EUR    64.08
VONTOBEL FIN PRO       14.853   9/28/2012     EUR    50.36
VONTOBEL FIN PRO       14.786   9/28/2012     EUR    69.80
VONTOBEL FIN PRO       14.600   9/28/2012     EUR    55.44
VONTOBEL FIN PRO       14.550   9/28/2012     EUR    63.16
VONTOBEL FIN PRO       14.500   9/28/2012     EUR    64.76
VONTOBEL FIN PRO       14.303   9/28/2012     EUR    60.90
VONTOBEL FIN PRO       14.300   9/28/2012     EUR    67.10
VONTOBEL FIN PRO       14.209   9/28/2012     EUR    54.48
VONTOBEL FIN PRO       14.200   9/28/2012     EUR    59.70
VONTOBEL FIN PRO       14.191   9/28/2012     EUR    42.24
VONTOBEL FIN PRO       14.154   9/28/2012     EUR    44.44
VONTOBEL FIN PRO       14.150   9/28/2012     EUR    73.14
VONTOBEL FIN PRO       14.150   9/28/2012     EUR    44.10
VONTOBEL FIN PRO       13.950   9/28/2012     EUR    54.72
VONTOBEL FIN PRO       13.469   9/28/2012     EUR    49.39
VONTOBEL FIN PRO       13.352   9/28/2012     EUR    36.46
VONTOBEL FIN PRO       13.259   9/28/2012     EUR    42.42
VONTOBEL FIN PRO       13.257   9/28/2012     EUR    43.30
VONTOBEL FIN PRO       13.150   9/28/2012     EUR    61.98
VONTOBEL FIN PRO       13.135   9/28/2012     EUR    52.76
VONTOBEL FIN PRO       13.100   9/28/2012     EUR    67.68
VONTOBEL FIN PRO       13.071   9/28/2012     EUR    57.72
VONTOBEL FIN PRO       13.029   9/28/2012     EUR    73.40
VONTOBEL FIN PRO       12.965   9/28/2012     EUR    60.00
VONTOBEL FIN PRO       12.943   9/28/2012     EUR    68.18
VONTOBEL FIN PRO       12.943   9/28/2012     EUR    63.30
VONTOBEL FIN PRO       12.857   9/28/2012     EUR    66.78
VONTOBEL FIN PRO       12.857   9/28/2012     EUR    54.38
VONTOBEL FIN PRO       12.847   9/28/2012     EUR    46.08
VONTOBEL FIN PRO       12.847   9/28/2012     EUR    69.10
VONTOBEL FIN PRO       12.800   9/28/2012     EUR    67.92
VONTOBEL FIN PRO       12.770   9/28/2012     EUR    55.98
VONTOBEL FIN PRO       12.676   9/28/2012     EUR    60.28
VONTOBEL FIN PRO       12.471   9/28/2012     EUR    58.66
VONTOBEL FIN PRO       12.436   9/28/2012     EUR    63.88
VONTOBEL FIN PRO       12.398   9/28/2012     EUR    52.30
VONTOBEL FIN PRO       12.398   9/28/2012     EUR    61.28
VONTOBEL FIN PRO       12.350   9/28/2012     EUR    47.36
VONTOBEL FIN PRO       12.350   9/28/2012     EUR    55.88
VONTOBEL FIN PRO       12.168   9/28/2012     EUR    70.61
VONTOBEL FIN PRO       12.131   9/28/2012     EUR    54.18
VONTOBEL FIN PRO       12.086   9/28/2012     EUR    70.32
VONTOBEL FIN PRO       12.067   9/28/2012     EUR    46.80
VONTOBEL FIN PRO       12.056   9/28/2012     EUR    47.40
VONTOBEL FIN PRO       12.050   9/28/2012     EUR    72.40
VONTOBEL FIN PRO       12.014   9/28/2012     EUR    74.64
VONTOBEL FIN PRO       11.950   9/28/2012     EUR    68.48
VONTOBEL FIN PRO       11.895   9/28/2012     EUR    37.72
VONTOBEL FIN PRO       11.816   9/28/2012     EUR    63.82
VONTOBEL FIN PRO       11.797   9/28/2012     EUR    50.67
VONTOBEL FIN PRO       11.790   9/28/2012     EUR    44.44
VONTOBEL FIN PRO       18.289   6/22/2012     EUR    14.16
VONTOBEL FIN PRO       11.019   6/22/2012     EUR    49.08
VONTOBEL FIN PRO       11.014   6/22/2012     EUR    66.75
VONTOBEL FIN PRO       10.982   6/22/2012     EUR    70.60
VONTOBEL FIN PRO       10.980   6/22/2012     EUR    61.52
VONTOBEL FIN PRO       10.970   6/22/2012     EUR    66.82
VONTOBEL FIN PRO       10.955   6/22/2012     EUR    59.66
VONTOBEL FIN PRO       10.953   6/22/2012     EUR    68.42
VONTOBEL FIN PRO       10.925   6/22/2012     EUR    47.48
VONTOBEL FIN PRO       10.925   6/22/2012     EUR    64.10
VONTOBEL FIN PRO       10.925   6/22/2012     EUR    44.64
VONTOBEL FIN PRO       10.920   6/22/2012     EUR    32.30
VONTOBEL FIN PRO       10.920   6/22/2012     EUR    70.42
VONTOBEL FIN PRO       10.918   6/22/2012     EUR    67.10
VONTOBEL FIN PRO       10.912   6/22/2012     EUR    68.71
VONTOBEL FIN PRO       10.909   6/22/2012     EUR    35.50
VONTOBEL FIN PRO       10.890   6/22/2012     EUR    70.55
VONTOBEL FIN PRO       10.402   6/22/2012     EUR    47.46
VONTOBEL FIN PRO       10.405   6/22/2012     EUR    70.08
VONTOBEL FIN PRO       10.890   6/22/2012     EUR    70.88
VONTOBEL FIN PRO       10.415   6/22/2012     EUR    63.91
VONTOBEL FIN PRO       10.438   6/22/2012     EUR    59.96
VONTOBEL FIN PRO       10.439   6/22/2012     EUR    40.66
VONTOBEL FIN PRO       10.440   6/22/2012     EUR    58.72
VONTOBEL FIN PRO       10.458   6/22/2012     EUR    57.70
VONTOBEL FIN PRO       10.476   6/22/2012     EUR    23.42
VONTOBEL FIN PRO       10.878   6/22/2012     EUR    59.12
VONTOBEL FIN PRO       10.867   6/22/2012     EUR    73.28
VONTOBEL FIN PRO       10.850   6/22/2012     EUR    69.38
VONTOBEL FIN PRO       10.478   6/22/2012     EUR    63.18
VONTOBEL FIN PRO       10.479   6/22/2012     EUR    67.08
VONTOBEL FIN PRO       10.484   6/22/2012     EUR    74.06
VONTOBEL FIN PRO       10.847   6/22/2012     EUR    51.32
VONTOBEL FIN PRO       10.837   6/22/2012     EUR    68.72
VONTOBEL FIN PRO       10.833   6/22/2012     EUR    44.28
VONTOBEL FIN PRO       10.833   6/22/2012     EUR    67.36
VONTOBEL FIN PRO       10.821   6/22/2012     EUR    70.14
VONTOBEL FIN PRO       10.819   6/22/2012     EUR    70.12
VONTOBEL FIN PRO       10.818   6/22/2012     EUR    70.22
VONTOBEL FIN PRO       10.800   6/22/2012     EUR    36.58
VONTOBEL FIN PRO       10.791   6/22/2012     EUR    66.62
VONTOBEL FIN PRO       10.789   6/22/2012     EUR    71.62
VONTOBEL FIN PRO       10.781   6/22/2012     EUR    64.00
VONTOBEL FIN PRO       10.486   6/22/2012     EUR    37.58
VONTOBEL FIN PRO       10.779   6/22/2012     EUR    50.74
VONTOBEL FIN PRO       10.761   6/22/2012     EUR    72.82
VONTOBEL FIN PRO       10.761   6/22/2012     EUR    55.88
VONTOBEL FIN PRO       10.760   6/22/2012     EUR    62.76
VONTOBEL FIN PRO       10.759   6/22/2012     EUR    62.59
VONTOBEL FIN PRO       10.757   6/22/2012     EUR    43.88
VONTOBEL FIN PRO       10.490   6/22/2012     EUR    44.22
VONTOBEL FIN PRO       10.492   6/22/2012     EUR    73.74
VONTOBEL FIN PRO       10.500   6/22/2012     EUR    43.26
VONTOBEL FIN PRO       10.500   6/22/2012     EUR    72.44
VONTOBEL FIN PRO       10.520   6/22/2012     EUR    33.46
VONTOBEL FIN PRO       10.757   6/22/2012     EUR    70.46
VONTOBEL FIN PRO       10.755   6/22/2012     EUR    70.52
VONTOBEL FIN PRO       10.726   6/22/2012     EUR    40.24
VONTOBEL FIN PRO       10.724   6/22/2012     EUR    44.64
VONTOBEL FIN PRO       10.720   6/22/2012     EUR    71.34
VONTOBEL FIN PRO       10.703   6/22/2012     EUR    63.22
VONTOBEL FIN PRO       10.702   6/22/2012     EUR    74.52
VONTOBEL FIN PRO       10.697   6/22/2012     EUR    69.16
VONTOBEL FIN PRO       10.679   6/22/2012     EUR    73.88
VONTOBEL FIN PRO       10.668   6/22/2012     EUR    64.16
VONTOBEL FIN PRO       10.660   6/22/2012     EUR    41.28
VONTOBEL FIN PRO       10.642   6/22/2012     EUR    52.53
VONTOBEL FIN PRO       10.620   6/22/2012     EUR    54.86
VONTOBEL FIN PRO       10.612   6/22/2012     EUR    62.60
VONTOBEL FIN PRO       10.611   6/22/2012     EUR    70.40
VONTOBEL FIN PRO       10.607   6/22/2012     EUR    41.62
VONTOBEL FIN PRO       10.577   6/22/2012     EUR    52.86
VONTOBEL FIN PRO       10.571   6/22/2012     EUR    70.96
VONTOBEL FIN PRO       10.567   6/22/2012     EUR    53.02
VONTOBEL FIN PRO       10.556   6/22/2012     EUR    66.50
VONTOBEL FIN PRO       10.548   6/22/2012     EUR    46.74
VONTOBEL FIN PRO       10.528   6/22/2012     EUR    56.75
VONTOBEL FIN PRO        7.094   6/22/2012     EUR    50.12
VONTOBEL FIN PRO        7.101   6/22/2012     EUR    38.94
VONTOBEL FIN PRO        7.150   6/22/2012     EUR    70.20
VONTOBEL FIN PRO        7.150   6/22/2012     EUR    73.60
VONTOBEL FIN PRO        7.156   6/22/2012     EUR    61.38
VONTOBEL FIN PRO        7.184   6/22/2012     EUR    74.86
VONTOBEL FIN PRO        7.200   6/22/2012     EUR    61.40
VONTOBEL FIN PRO        7.228   6/22/2012     EUR    63.18
VONTOBEL FIN PRO        7.231   6/22/2012     EUR    65.82
VONTOBEL FIN PRO        7.236   6/22/2012     EUR    45.24
VONTOBEL FIN PRO        7.299   6/22/2012     EUR    69.28
VONTOBEL FIN PRO        7.299   6/22/2012     EUR    66.74
VONTOBEL FIN PRO        7.337   6/22/2012     EUR    71.81
VONTOBEL FIN PRO        7.354   6/22/2012     EUR    74.01
VONTOBEL FIN PRO        7.362   6/22/2012     EUR    64.78
VONTOBEL FIN PRO        7.370   6/22/2012     EUR    62.92
VONTOBEL FIN PRO        7.416   6/22/2012     EUR    70.34
VONTOBEL FIN PRO        7.471   6/22/2012     EUR    72.92
VONTOBEL FIN PRO        7.473   6/22/2012     EUR    50.70
VONTOBEL FIN PRO        7.488   6/22/2012     EUR    59.24
VONTOBEL FIN PRO        7.500   6/22/2012     EUR    52.00
VONTOBEL FIN PRO        7.509   6/22/2012     EUR    46.24
VONTOBEL FIN PRO        7.562   6/22/2012     EUR    57.32
VONTOBEL FIN PRO        7.600   6/22/2012     EUR    68.88
VONTOBEL FIN PRO        7.622   6/22/2012     EUR    73.18
VONTOBEL FIN PRO        7.689   6/22/2012     EUR    73.76
VONTOBEL FIN PRO        7.700   6/22/2012     EUR    65.44
VONTOBEL FIN PRO        7.720   6/22/2012     EUR    64.68
VONTOBEL FIN PRO        7.754   6/22/2012     EUR    49.32
VONTOBEL FIN PRO        7.795   6/22/2012     EUR    62.70
VONTOBEL FIN PRO        7.812   6/22/2012     EUR    62.44
VONTOBEL FIN PRO        7.833   6/22/2012     EUR    69.26
VONTOBEL FIN PRO        7.855   6/22/2012     EUR    58.02
VONTOBEL FIN PRO        7.942   6/22/2012     EUR    50.52
VONTOBEL FIN PRO        7.956   6/22/2012     EUR    70.00
VONTOBEL FIN PRO        7.974   6/22/2012     EUR    48.28
VONTOBEL FIN PRO        7.974   6/22/2012     EUR    32.06
VONTOBEL FIN PRO        7.988   6/22/2012     EUR    71.87
VONTOBEL FIN PRO        7.996   6/22/2012     EUR    57.46
VONTOBEL FIN PRO        8.013   6/22/2012     EUR    45.72
VONTOBEL FIN PRO        8.014   6/22/2012     EUR    59.76
VONTOBEL FIN PRO        8.015   6/22/2012     EUR    57.56
VONTOBEL FIN PRO        8.031   6/22/2012     EUR    65.16
VONTOBEL FIN PRO        8.038   6/22/2012     EUR    63.71
VONTOBEL FIN PRO        8.052   6/22/2012     EUR    68.96
VONTOBEL FIN PRO        8.068   6/22/2012     EUR    50.16
VONTOBEL FIN PRO        8.092   6/22/2012     EUR    71.14
VONTOBEL FIN PRO        8.108   6/22/2012     EUR    61.54
VONTOBEL FIN PRO        8.113   6/22/2012     EUR    69.22
VONTOBEL FIN PRO        8.113   6/22/2012     EUR    59.20
VONTOBEL FIN PRO        8.135   6/22/2012     EUR    56.16
VONTOBEL FIN PRO        8.152   6/22/2012     EUR    57.48
VONTOBEL FIN PRO        8.169   6/22/2012     EUR    73.72
VONTOBEL FIN PRO        8.177   6/22/2012     EUR    70.80
VONTOBEL FIN PRO        8.185   6/22/2012     EUR    44.46
VONTOBEL FIN PRO        8.189   6/22/2012     EUR    32.08
VONTOBEL FIN PRO        8.189   6/22/2012     EUR    56.98
VONTOBEL FIN PRO        8.229   6/22/2012     EUR    58.70
VONTOBEL FIN PRO        8.264   6/22/2012     EUR    58.24
VONTOBEL FIN PRO        8.267   6/22/2012     EUR    58.34
VONTOBEL FIN PRO        8.278   6/22/2012     EUR    59.68
VONTOBEL FIN PRO        8.284   6/22/2012     EUR    46.38
VONTOBEL FIN PRO        8.302   6/22/2012     EUR    50.08
VONTOBEL FIN PRO        8.302   6/22/2012     EUR    71.91
VONTOBEL FIN PRO        8.327   6/22/2012     EUR    53.96
VONTOBEL FIN PRO        8.328   6/22/2012     EUR    70.24
VONTOBEL FIN PRO        8.340   6/22/2012     EUR    55.32
VONTOBEL FIN PRO        8.340   6/22/2012     EUR    16.52
VONTOBEL FIN PRO        8.347   6/22/2012     EUR    68.14
VONTOBEL FIN PRO        8.347   6/22/2012     EUR    48.60
VONTOBEL FIN PRO        8.347   6/22/2012     EUR    57.08
VONTOBEL FIN PRO        8.369   6/22/2012     EUR    72.82
VONTOBEL FIN PRO        8.377   6/22/2012     EUR    70.38
VONTOBEL FIN PRO        8.377   6/22/2012     EUR    43.38
VONTOBEL FIN PRO        8.378   6/22/2012     EUR    70.04
VONTOBEL FIN PRO        8.404   6/22/2012     EUR    63.28
VONTOBEL FIN PRO        8.407   6/22/2012     EUR    35.32
VONTOBEL FIN PRO        8.408   6/22/2012     EUR    71.86
VONTOBEL FIN PRO        8.422   6/22/2012     EUR    71.91
VONTOBEL FIN PRO        8.433   6/22/2012     EUR    62.58
VONTOBEL FIN PRO        8.455   6/22/2012     EUR    68.88
VONTOBEL FIN PRO        8.460   6/22/2012     EUR    48.34
VONTOBEL FIN PRO        8.466   6/22/2012     EUR    64.32
VONTOBEL FIN PRO        8.466   6/22/2012     EUR    36.70
VONTOBEL FIN PRO        8.487   6/22/2012     EUR    57.44
VONTOBEL FIN PRO        8.491   6/22/2012     EUR    48.66
VONTOBEL FIN PRO        8.491   6/22/2012     EUR    43.86
VONTOBEL FIN PRO       17.189   6/22/2012     EUR    61.02
VONTOBEL FIN PRO       17.150   6/22/2012     EUR    69.70
VONTOBEL FIN PRO       16.900   6/22/2012     EUR    60.26
VONTOBEL FIN PRO       16.864   6/22/2012     EUR    49.66
VONTOBEL FIN PRO       16.850   6/22/2012     EUR    60.40
VONTOBEL FIN PRO       16.833   6/22/2012     EUR    57.44
VONTOBEL FIN PRO       16.746   6/22/2012     EUR    17.56
VONTOBEL FIN PRO        8.495   6/22/2012     EUR    68.22
VONTOBEL FIN PRO        8.496   6/22/2012     EUR    67.10
VONTOBEL FIN PRO       16.667   6/22/2012     EUR    19.64
VONTOBEL FIN PRO       16.611   6/22/2012     EUR    62.16
VONTOBEL FIN PRO        8.500   6/22/2012     EUR    71.18
VONTOBEL FIN PRO        8.501   6/22/2012     EUR    74.65
VONTOBEL FIN PRO       16.600   6/22/2012     EUR    56.14
VONTOBEL FIN PRO       16.600   6/22/2012     EUR    74.36
VONTOBEL FIN PRO       16.595   6/22/2012     EUR    46.36
VONTOBEL FIN PRO       16.497   6/22/2012     EUR    18.50
VONTOBEL FIN PRO       16.488   6/22/2012     EUR    19.58
VONTOBEL FIN PRO        8.525   6/22/2012     EUR    52.70
VONTOBEL FIN PRO        8.528   6/22/2012     EUR    61.60
VONTOBEL FIN PRO        8.528   6/22/2012     EUR    57.74
VONTOBEL FIN PRO       16.389   6/22/2012     EUR    67.26
VONTOBEL FIN PRO       16.250   6/22/2012     EUR    69.78
VONTOBEL FIN PRO       16.156   6/22/2012     EUR    53.08
VONTOBEL FIN PRO        8.550   6/22/2012     EUR    68.58
VONTOBEL FIN PRO        8.566   6/22/2012     EUR    62.90
VONTOBEL FIN PRO        8.581   6/22/2012     EUR    56.44
VONTOBEL FIN PRO        8.597   6/22/2012     EUR    54.90
VONTOBEL FIN PRO        8.605   6/22/2012     EUR    73.52
VONTOBEL FIN PRO        8.640   6/22/2012     EUR    25.08
VONTOBEL FIN PRO        8.642   6/22/2012     EUR    45.65
VONTOBEL FIN PRO        8.667   6/22/2012     EUR    69.62
VONTOBEL FIN PRO        8.667   6/22/2012     EUR    57.02
VONTOBEL FIN PRO        8.676   6/22/2012     EUR    60.00
VONTOBEL FIN PRO        8.676   6/22/2012     EUR    71.92
VONTOBEL FIN PRO        8.679   6/22/2012     EUR    50.62
VONTOBEL FIN PRO        8.679   6/22/2012     EUR    62.66
VONTOBEL FIN PRO        8.681   6/22/2012     EUR    64.02
VONTOBEL FIN PRO        8.690   6/22/2012     EUR    47.62
VONTOBEL FIN PRO        8.701   6/22/2012     EUR    35.44
VONTOBEL FIN PRO        8.701   6/22/2012     EUR    74.78
VONTOBEL FIN PRO        8.711   6/22/2012     EUR    71.93
VONTOBEL FIN PRO        8.720   6/22/2012     EUR    60.40
VONTOBEL FIN PRO        8.727   6/22/2012     EUR    66.38
VONTOBEL FIN PRO        8.747   6/22/2012     EUR    69.74
VONTOBEL FIN PRO        8.753   6/22/2012     EUR    64.62
VONTOBEL FIN PRO        8.755   6/22/2012     EUR    40.84
VONTOBEL FIN PRO        8.755   6/22/2012     EUR    57.62
VONTOBEL FIN PRO        8.755   6/22/2012     EUR    60.94
VONTOBEL FIN PRO        8.757   6/22/2012     EUR    57.85
VONTOBEL FIN PRO        8.774   6/22/2012     EUR    68.58
VONTOBEL FIN PRO        8.779   6/22/2012     EUR    73.90
VONTOBEL FIN PRO        8.793   6/22/2012     EUR    56.80
VONTOBEL FIN PRO        8.795   6/22/2012     EUR    45.74
VONTOBEL FIN PRO        8.795   6/22/2012     EUR    63.42
VONTOBEL FIN PRO        8.795   6/22/2012     EUR    52.24
VONTOBEL FIN PRO        8.800   6/22/2012     EUR    71.02
VONTOBEL FIN PRO        8.802   6/22/2012     EUR    70.80
VONTOBEL FIN PRO        8.806   6/22/2012     EUR    64.00
VONTOBEL FIN PRO        8.806   6/22/2012     EUR    50.44
VONTOBEL FIN PRO        8.819   6/22/2012     EUR    71.93
VONTOBEL FIN PRO        8.830   6/22/2012     EUR    59.24
VONTOBEL FIN PRO        8.835   6/22/2012     EUR    53.16
VONTOBEL FIN PRO        8.845   6/22/2012     EUR    65.68
VONTOBEL FIN PRO        8.855   6/22/2012     EUR    71.93
VONTOBEL FIN PRO        8.872   6/22/2012     EUR    70.48
VONTOBEL FIN PRO        8.875   6/22/2012     EUR    56.82
VONTOBEL FIN PRO        8.877   6/22/2012     EUR    56.14
VONTOBEL FIN PRO        8.889   6/22/2012     EUR    73.92
VONTOBEL FIN PRO        8.889   6/22/2012     EUR    46.18
VONTOBEL FIN PRO        8.891   6/22/2012     EUR    50.92
VONTOBEL FIN PRO        8.892   6/22/2012     EUR    49.48
VONTOBEL FIN PRO        8.900   6/22/2012     EUR    50.52
VONTOBEL FIN PRO        8.906   6/22/2012     EUR    44.66
VONTOBEL FIN PRO        8.920   6/22/2012     EUR    66.74
VONTOBEL FIN PRO        8.943   6/22/2012     EUR    60.38
VONTOBEL FIN PRO        8.944   6/22/2012     EUR    69.02
VONTOBEL FIN PRO        8.960   6/22/2012     EUR    74.14
VONTOBEL FIN PRO        8.982   6/22/2012     EUR    69.98
VONTOBEL FIN PRO        9.019   6/22/2012     EUR    46.44
VONTOBEL FIN PRO        9.025   6/22/2012     EUR    65.78
VONTOBEL FIN PRO        9.026   6/22/2012     EUR    66.66
VONTOBEL FIN PRO        9.071   6/22/2012     EUR    62.88
VONTOBEL FIN PRO        9.072   6/22/2012     EUR    41.14
VONTOBEL FIN PRO        9.072   6/22/2012     EUR    58.48
VONTOBEL FIN PRO        9.072   6/22/2012     EUR    71.36
VONTOBEL FIN PRO        9.074   6/22/2012     EUR    72.28
VONTOBEL FIN PRO        9.075   6/22/2012     EUR    74.40
VONTOBEL FIN PRO        9.080   6/22/2012     EUR    67.74
VONTOBEL FIN PRO        9.094   6/22/2012     EUR    67.85
VONTOBEL FIN PRO        9.097   6/22/2012     EUR    69.76
VONTOBEL FIN PRO        9.125   6/22/2012     EUR    69.04
VONTOBEL FIN PRO        9.133   6/22/2012     EUR    70.62
VONTOBEL FIN PRO        9.134   6/22/2012     EUR    65.56
VONTOBEL FIN PRO        9.139   6/22/2012     EUR    72.36
VONTOBEL FIN PRO        9.140   6/22/2012     EUR    74.68
VONTOBEL FIN PRO        9.142   6/22/2012     EUR    58.60
VONTOBEL FIN PRO        9.162   6/22/2012     EUR    60.84
VONTOBEL FIN PRO        9.170   6/22/2012     EUR    72.76
VONTOBEL FIN PRO        9.180   6/22/2012     EUR    59.46
VONTOBEL FIN PRO        9.208   6/22/2012     EUR    37.12
VONTOBEL FIN PRO        9.220   6/22/2012     EUR    71.78
VONTOBEL FIN PRO        9.234   6/22/2012     EUR    74.90
VONTOBEL FIN PRO        9.250   6/22/2012     EUR    72.96
VONTOBEL FIN PRO        9.250   6/22/2012     EUR    51.94
VONTOBEL FIN PRO        9.259   6/22/2012     EUR    64.92
VONTOBEL FIN PRO        9.274   6/22/2012     EUR    55.52
VONTOBEL FIN PRO        9.283   6/22/2012     EUR    35.24
VONTOBEL FIN PRO        9.290   6/22/2012     EUR    53.80
VONTOBEL FIN PRO        9.292   6/22/2012     EUR    44.56
VONTOBEL FIN PRO        9.295   6/22/2012     EUR    74.64
VONTOBEL FIN PRO        9.309   6/22/2012     EUR    74.69
VONTOBEL FIN PRO        9.316   6/22/2012     EUR    45.38
VONTOBEL FIN PRO        9.332   6/22/2012     EUR    60.72
VONTOBEL FIN PRO        9.333   6/22/2012     EUR    63.20
VONTOBEL FIN PRO        9.333   6/22/2012     EUR    66.12
VONTOBEL FIN PRO        9.373   6/22/2012     EUR    38.75
VONTOBEL FIN PRO        9.376   6/22/2012     EUR    72.32
VONTOBEL FIN PRO        9.389   6/22/2012     EUR    45.80
VONTOBEL FIN PRO        9.396   6/22/2012     EUR    61.66
VONTOBEL FIN PRO        9.405   6/22/2012     EUR    64.00
VONTOBEL FIN PRO        9.411   6/22/2012     EUR    57.46
VONTOBEL FIN PRO        9.414   6/22/2012     EUR    48.82
VONTOBEL FIN PRO        9.443   6/22/2012     EUR    69.38
VONTOBEL FIN PRO        9.448   6/22/2012     EUR    65.92
VONTOBEL FIN PRO        9.454   6/22/2012     EUR    38.14
VONTOBEL FIN PRO        9.461   6/22/2012     EUR    62.52
VONTOBEL FIN PRO        9.466   6/22/2012     EUR    53.30
VONTOBEL FIN PRO        9.472   6/22/2012     EUR    63.62
VONTOBEL FIN PRO        9.472   6/22/2012     EUR    28.49
VONTOBEL FIN PRO        9.493   6/22/2012     EUR    71.38
VONTOBEL FIN PRO        9.509   6/22/2012     EUR    70.44
VONTOBEL FIN PRO        9.511   6/22/2012     EUR    54.02
VONTOBEL FIN PRO        9.524   6/22/2012     EUR    57.48
VONTOBEL FIN PRO        9.534   6/22/2012     EUR    68.98
VONTOBEL FIN PRO        9.534   6/22/2012     EUR    64.68
VONTOBEL FIN PRO        9.547   6/22/2012     EUR    50.62
VONTOBEL FIN PRO        9.550   6/22/2012     EUR    73.46
VONTOBEL FIN PRO        9.553   6/22/2012     EUR    57.94
VONTOBEL FIN PRO        9.553   6/22/2012     EUR    54.96
VONTOBEL FIN PRO        9.556   6/22/2012     EUR    21.70
VONTOBEL FIN PRO        9.557   6/22/2012     EUR    65.28
VONTOBEL FIN PRO        9.567   6/22/2012     EUR    65.92
VONTOBEL FIN PRO        9.576   6/22/2012     EUR    52.88
VONTOBEL FIN PRO        9.600   6/22/2012     EUR    68.12
VONTOBEL FIN PRO        9.606   6/22/2012     EUR    57.52
VONTOBEL FIN PRO        9.623   6/22/2012     EUR    42.32
VONTOBEL FIN PRO        9.623   6/22/2012     EUR    32.20
VONTOBEL FIN PRO        9.627   6/22/2012     EUR    47.12
VONTOBEL FIN PRO        9.658   6/22/2012     EUR    55.61
VONTOBEL FIN PRO        9.673   6/22/2012     EUR    38.40
VONTOBEL FIN PRO        9.674   6/22/2012     EUR    60.90
VONTOBEL FIN PRO        9.684   6/22/2012     EUR    64.16
VONTOBEL FIN PRO        9.687   6/22/2012     EUR    69.16
VONTOBEL FIN PRO        9.689   6/22/2012     EUR    67.82
VONTOBEL FIN PRO        9.689   6/22/2012     EUR    54.42
VONTOBEL FIN PRO        9.698   6/22/2012     EUR    64.10
VONTOBEL FIN PRO        9.699   6/22/2012     EUR    42.24
VONTOBEL FIN PRO        9.702   6/22/2012     EUR    73.40
VONTOBEL FIN PRO        9.709   6/22/2012     EUR    42.10
VONTOBEL FIN PRO        9.709   6/22/2012     EUR    32.94
VONTOBEL FIN PRO        9.709   6/22/2012     EUR    68.34
VONTOBEL FIN PRO        9.716   6/22/2012     EUR    57.80
VONTOBEL FIN PRO        9.722   6/22/2012     EUR    67.82
VONTOBEL FIN PRO        9.723   6/22/2012     EUR    69.72
VONTOBEL FIN PRO        9.724   6/22/2012     EUR    63.40
VONTOBEL FIN PRO        9.732   6/22/2012     EUR    69.16
VONTOBEL FIN PRO        9.740   6/22/2012     EUR    66.67
VONTOBEL FIN PRO        9.754   6/22/2012     EUR    67.30
VONTOBEL FIN PRO        9.781   6/22/2012     EUR    45.78
VONTOBEL FIN PRO        9.784   6/22/2012     EUR    74.77
VONTOBEL FIN PRO        9.790   6/22/2012     EUR    67.28
VONTOBEL FIN PRO        9.790   6/22/2012     EUR    73.96
VONTOBEL FIN PRO        9.797   6/22/2012     EUR    41.20
VONTOBEL FIN PRO        9.832   6/22/2012     EUR    61.66
VONTOBEL FIN PRO        9.832   6/22/2012     EUR    66.12
VONTOBEL FIN PRO        9.851   6/22/2012     EUR    70.02
VONTOBEL FIN PRO        9.871   6/22/2012     EUR    54.44
VONTOBEL FIN PRO        9.871   6/22/2012     EUR    71.82
VONTOBEL FIN PRO        9.880   6/22/2012     EUR    58.20
VONTOBEL FIN PRO        9.887   6/22/2012     EUR    55.40
VONTOBEL FIN PRO        9.892   6/22/2012     EUR    57.10
VONTOBEL FIN PRO        9.898   6/22/2012     EUR    72.02
VONTOBEL FIN PRO        9.918   6/22/2012     EUR    48.92
VONTOBEL FIN PRO        9.921   6/22/2012     EUR    58.58
VONTOBEL FIN PRO        9.950   6/22/2012     EUR    73.46
VONTOBEL FIN PRO        9.957   6/22/2012     EUR    49.46
VONTOBEL FIN PRO        9.960   6/22/2012     EUR    63.18
VONTOBEL FIN PRO        9.969   6/22/2012     EUR    34.22
VONTOBEL FIN PRO        9.991   6/22/2012     EUR    49.58
VONTOBEL FIN PRO       10.000   6/22/2012     EUR    61.72
VONTOBEL FIN PRO       10.000   6/22/2012     EUR    73.82
VONTOBEL FIN PRO       10.000   6/22/2012     EUR    68.58
VONTOBEL FIN PRO       10.026   6/22/2012     EUR    54.08
VONTOBEL FIN PRO       10.027   6/22/2012     EUR    70.55
VONTOBEL FIN PRO       10.028   6/22/2012     EUR    50.54
VONTOBEL FIN PRO       10.028   6/22/2012     EUR    64.08
VONTOBEL FIN PRO       10.030   6/22/2012     EUR    61.48
VONTOBEL FIN PRO       10.038   6/22/2012     EUR    44.78
VONTOBEL FIN PRO       10.048   6/22/2012     EUR    69.16
VONTOBEL FIN PRO       10.050   6/22/2012     EUR    59.44
VONTOBEL FIN PRO       10.070   6/22/2012     EUR    71.94
VONTOBEL FIN PRO       10.070   6/22/2012     EUR    61.00
VONTOBEL FIN PRO       10.073   6/22/2012     EUR    64.68
VONTOBEL FIN PRO       10.098   6/22/2012     EUR    66.98
VONTOBEL FIN PRO       10.100   6/22/2012     EUR    58.00
VONTOBEL FIN PRO       10.107   6/22/2012     EUR    55.70
VONTOBEL FIN PRO       10.110   6/22/2012     EUR    36.86
VONTOBEL FIN PRO       10.113   6/22/2012     EUR    60.74
VONTOBEL FIN PRO       10.116   6/22/2012     EUR    52.98
VONTOBEL FIN PRO       10.135   6/22/2012     EUR    72.40
VONTOBEL FIN PRO       10.142   6/22/2012     EUR    56.00
VONTOBEL FIN PRO       10.146   6/22/2012     EUR    72.20
VONTOBEL FIN PRO       10.148   6/22/2012     EUR    71.82
VONTOBEL FIN PRO       10.167   6/22/2012     EUR    45.54
VONTOBEL FIN PRO       10.185   6/22/2012     EUR    69.42
VONTOBEL FIN PRO       10.186   6/22/2012     EUR    58.68
VONTOBEL FIN PRO       10.200   6/22/2012     EUR    72.56
VONTOBEL FIN PRO       10.204   6/22/2012     EUR    66.72
VONTOBEL FIN PRO       10.207   6/22/2012     EUR    52.16
VONTOBEL FIN PRO       10.222   6/22/2012     EUR    69.42
VONTOBEL FIN PRO       10.222   6/22/2012     EUR    54.46
VONTOBEL FIN PRO       10.241   6/22/2012     EUR    67.54
VONTOBEL FIN PRO       10.244   6/22/2012     EUR    64.72
VONTOBEL FIN PRO       10.246   6/22/2012     EUR    61.64
VONTOBEL FIN PRO       10.254   6/22/2012     EUR    52.28
VONTOBEL FIN PRO       10.257   6/22/2012     EUR    48.46
VONTOBEL FIN PRO       10.260   6/22/2012     EUR    44.58
VONTOBEL FIN PRO       10.264   6/22/2012     EUR    45.79
VONTOBEL FIN PRO       10.272   6/22/2012     EUR    69.42
VONTOBEL FIN PRO       10.273   6/22/2012     EUR    47.40
VONTOBEL FIN PRO       10.274   6/22/2012     EUR    64.88
VONTOBEL FIN PRO       10.278   6/22/2012     EUR    44.88
VONTOBEL FIN PRO       10.286   6/22/2012     EUR    67.04
VONTOBEL FIN PRO       10.293   6/22/2012     EUR    71.68
VONTOBEL FIN PRO       10.297   6/22/2012     EUR    73.66
VONTOBEL FIN PRO       10.311   6/22/2012     EUR    72.40
VONTOBEL FIN PRO       10.325   6/22/2012     EUR    60.86
VONTOBEL FIN PRO       16.150   6/22/2012     EUR    52.10
VONTOBEL FIN PRO       16.110   6/22/2012     EUR    15.20
VONTOBEL FIN PRO       16.000   6/22/2012     EUR    73.98
VONTOBEL FIN PRO       15.979   6/22/2012     EUR    51.38
VONTOBEL FIN PRO       15.950   6/22/2012     EUR    62.04
VONTOBEL FIN PRO       15.944   6/22/2012     EUR    67.88
VONTOBEL FIN PRO       15.940   6/22/2012     EUR    28.60
VONTOBEL FIN PRO       15.920   6/22/2012     EUR    15.88
VONTOBEL FIN PRO       15.889   6/22/2012     EUR    68.30
VONTOBEL FIN PRO       15.856   6/22/2012     EUR    63.02
VONTOBEL FIN PRO       15.840   6/22/2012     EUR    42.98
VONTOBEL FIN PRO       15.526   6/22/2012     EUR    42.02
VONTOBEL FIN PRO       15.448   6/22/2012     EUR    38.74
VONTOBEL FIN PRO       15.370   6/22/2012     EUR    42.00
VONTOBEL FIN PRO       15.308   6/22/2012     EUR    32.90
VONTOBEL FIN PRO       15.258   6/22/2012     EUR    56.98
VONTOBEL FIN PRO       15.250   6/22/2012     EUR    46.36
VONTOBEL FIN PRO       15.167   6/22/2012     EUR    36.64
VONTOBEL FIN PRO       15.091   6/22/2012     EUR    51.88
VONTOBEL FIN PRO       15.081   6/22/2012     EUR    56.72
VONTOBEL FIN PRO       14.821   6/22/2012     EUR    29.72
VONTOBEL FIN PRO       14.791   6/22/2012     EUR    18.38
VONTOBEL FIN PRO       14.717   6/22/2012     EUR    32.54
VONTOBEL FIN PRO       14.712   6/22/2012     EUR    34.68
VONTOBEL FIN PRO       14.680   6/22/2012     EUR    37.80
VONTOBEL FIN PRO       14.652   6/22/2012     EUR    46.76
VONTOBEL FIN PRO       14.643   6/22/2012     EUR    73.86
VONTOBEL FIN PRO       14.611   6/22/2012     EUR    54.22
VONTOBEL FIN PRO       14.595   6/22/2012     EUR    56.60
VONTOBEL FIN PRO       14.580   6/22/2012     EUR    50.62
VONTOBEL FIN PRO       14.561   6/22/2012     EUR    54.82
VONTOBEL FIN PRO       14.450   6/22/2012     EUR    36.48
VONTOBEL FIN PRO       14.447   6/22/2012     EUR    58.18
VONTOBEL FIN PRO       14.436   6/22/2012     EUR    20.66
VONTOBEL FIN PRO       14.345   6/22/2012     EUR    45.02
VONTOBEL FIN PRO       14.302   6/22/2012     EUR    17.02
VONTOBEL FIN PRO       14.278   6/22/2012     EUR    40.84
VONTOBEL FIN PRO       14.276   6/22/2012     EUR    56.10
VONTOBEL FIN PRO       14.229   6/22/2012     EUR    33.94
VONTOBEL FIN PRO       14.201   6/22/2012     EUR    27.70
VONTOBEL FIN PRO       14.172   6/22/2012     EUR    54.76
VONTOBEL FIN PRO       14.167   6/22/2012     EUR    61.26
VONTOBEL FIN PRO       14.160   6/22/2012     EUR    16.50
VONTOBEL FIN PRO       14.150   6/22/2012     EUR    60.92
VONTOBEL FIN PRO       14.100   6/22/2012     EUR    74.48
VONTOBEL FIN PRO       14.061   6/22/2012     EUR    50.82
VONTOBEL FIN PRO       14.000   6/22/2012     EUR    54.20
VONTOBEL FIN PRO       14.000   6/22/2012     EUR    42.88
VONTOBEL FIN PRO       13.980   6/22/2012     EUR    43.74
VONTOBEL FIN PRO       13.974   6/22/2012     EUR    59.30
VONTOBEL FIN PRO       13.973   6/22/2012     EUR    63.53
VONTOBEL FIN PRO       13.968   6/22/2012     EUR    52.66
VONTOBEL FIN PRO       13.961   6/22/2012     EUR    65.42
VONTOBEL FIN PRO       13.944   6/22/2012     EUR    66.28
VONTOBEL FIN PRO       13.886   6/22/2012     EUR    47.30
VONTOBEL FIN PRO       13.860   6/22/2012     EUR    45.82
VONTOBEL FIN PRO       13.846   6/22/2012     EUR    48.14
VONTOBEL FIN PRO       13.832   6/22/2012     EUR    50.62
VONTOBEL FIN PRO       13.832   6/22/2012     EUR    32.60
VONTOBEL FIN PRO       13.829   6/22/2012     EUR    45.82
VONTOBEL FIN PRO       13.812   6/22/2012     EUR    41.78
VONTOBEL FIN PRO       13.809   6/22/2012     EUR    72.84
VONTOBEL FIN PRO       13.803   6/22/2012     EUR    40.32
VONTOBEL FIN PRO       13.800   6/22/2012     EUR    59.64
VONTOBEL FIN PRO       13.792   6/22/2012     EUR    48.30
VONTOBEL FIN PRO       13.778   6/22/2012     EUR    55.32
VONTOBEL FIN PRO       13.778   6/22/2012     EUR    71.72
VONTOBEL FIN PRO       13.758   6/22/2012     EUR    26.14
VONTOBEL FIN PRO       13.748   6/22/2012     EUR    35.34
VONTOBEL FIN PRO       13.748   6/22/2012     EUR    56.90
VONTOBEL FIN PRO       13.700   6/22/2012     EUR    65.82
VONTOBEL FIN PRO       13.667   6/22/2012     EUR    63.00
VONTOBEL FIN PRO       13.650   6/22/2012     EUR    50.96
VONTOBEL FIN PRO       13.627   6/22/2012     EUR    67.12
VONTOBEL FIN PRO       13.615   6/22/2012     EUR    43.70
VONTOBEL FIN PRO       13.556   6/22/2012     EUR    69.54
VONTOBEL FIN PRO       13.536   6/22/2012     EUR    29.88
VONTOBEL FIN PRO       13.522   6/22/2012     EUR    47.26
VONTOBEL FIN PRO       13.521   6/22/2012     EUR    36.08
VONTOBEL FIN PRO       13.514   6/22/2012     EUR    74.74
VONTOBEL FIN PRO       13.500   6/22/2012     EUR    29.08
VONTOBEL FIN PRO       13.463   6/22/2012     EUR    27.42
VONTOBEL FIN PRO       13.461   6/22/2012     EUR    63.30
VONTOBEL FIN PRO       13.388   6/22/2012     EUR    63.30
VONTOBEL FIN PRO       13.355   6/22/2012     EUR    38.44
VONTOBEL FIN PRO       13.343   6/22/2012     EUR    49.22
VONTOBEL FIN PRO       13.293   6/22/2012     EUR    58.00
VONTOBEL FIN PRO       13.288   6/22/2012     EUR    34.50
VONTOBEL FIN PRO       13.283   6/22/2012     EUR    35.92
VONTOBEL FIN PRO       13.253   6/22/2012     EUR    39.58
VONTOBEL FIN PRO       13.224   6/22/2012     EUR    49.00
VONTOBEL FIN PRO       13.208   6/22/2012     EUR    42.82
VONTOBEL FIN PRO       13.200   6/22/2012     EUR    57.42
VONTOBEL FIN PRO       13.200   6/22/2012     EUR    68.62
VONTOBEL FIN PRO       13.150   6/22/2012     EUR    40.20
VONTOBEL FIN PRO       13.150   6/22/2012     EUR    70.68
VONTOBEL FIN PRO       13.123   6/22/2012     EUR    74.50
VONTOBEL FIN PRO       13.111   6/22/2012     EUR    38.68
VONTOBEL FIN PRO       13.084   6/22/2012     EUR    50.40
VONTOBEL FIN PRO       13.055   6/22/2012     EUR    70.10
VONTOBEL FIN PRO       13.035   6/22/2012     EUR    70.28
VONTOBEL FIN PRO       13.035   6/22/2012     EUR    62.60
VONTOBEL FIN PRO       13.032   6/22/2012     EUR    28.38
VONTOBEL FIN PRO       13.027   6/22/2012     EUR    65.44
VONTOBEL FIN PRO       13.024   6/22/2012     EUR    61.06
VONTOBEL FIN PRO       13.000   6/22/2012     EUR    20.56
VONTOBEL FIN PRO       13.000   6/22/2012     EUR    72.78
VONTOBEL FIN PRO       12.978   6/22/2012     EUR    74.48
VONTOBEL FIN PRO       12.964   6/22/2012     EUR    51.96
VONTOBEL FIN PRO       12.926   6/22/2012     EUR    62.88
VONTOBEL FIN PRO       12.890   6/22/2012     EUR    66.68
VONTOBEL FIN PRO       12.880   6/22/2012     EUR    59.28
VONTOBEL FIN PRO       12.878   6/22/2012     EUR    60.84
VONTOBEL FIN PRO       12.870   6/22/2012     EUR    50.88
VONTOBEL FIN PRO       12.857   6/22/2012     EUR    70.08
VONTOBEL FIN PRO       12.851   6/22/2012     EUR    74.94
VONTOBEL FIN PRO       12.830   6/22/2012     EUR    32.62
VONTOBEL FIN PRO       12.799   6/22/2012     EUR    54.68
VONTOBEL FIN PRO       12.789   6/22/2012     EUR    68.22
VONTOBEL FIN PRO       12.740   6/22/2012     EUR    67.64
VONTOBEL FIN PRO       12.716   6/22/2012     EUR    31.10
VONTOBEL FIN PRO       12.689   6/22/2012     EUR    51.14
VONTOBEL FIN PRO       12.685   6/22/2012     EUR    36.80
VONTOBEL FIN PRO       12.679   6/22/2012     EUR    52.51
VONTOBEL FIN PRO       12.672   6/22/2012     EUR    33.82
VONTOBEL FIN PRO       12.672   6/22/2012     EUR    62.84
VONTOBEL FIN PRO       12.667   6/22/2012     EUR    63.68
VONTOBEL FIN PRO       12.652   6/22/2012     EUR    59.38
VONTOBEL FIN PRO       12.627   6/22/2012     EUR    37.86
VONTOBEL FIN PRO       12.623   6/22/2012     EUR    31.46
VONTOBEL FIN PRO       12.600   6/22/2012     EUR    52.48
VONTOBEL FIN PRO       12.595   6/22/2012     EUR    41.16
VONTOBEL FIN PRO       12.578   6/22/2012     EUR    34.90
VONTOBEL FIN PRO       12.578   6/22/2012     EUR    56.38
VONTOBEL FIN PRO       12.556   6/22/2012     EUR    73.14
VONTOBEL FIN PRO       12.550   6/22/2012     EUR    69.64
VONTOBEL FIN PRO       12.547   6/22/2012     EUR    57.82
VONTOBEL FIN PRO       12.544   6/22/2012     EUR    42.32
VONTOBEL FIN PRO       12.537   6/22/2012     EUR    44.90
VONTOBEL FIN PRO       12.536   6/22/2012     EUR    49.88
VONTOBEL FIN PRO       12.532   6/22/2012     EUR    52.96
VONTOBEL FIN PRO       12.520   6/22/2012     EUR    44.81
VONTOBEL FIN PRO       12.512   6/22/2012     EUR    47.36
VONTOBEL FIN PRO       12.500   6/22/2012     EUR    58.76
VONTOBEL FIN PRO       12.500   6/22/2012     EUR    67.24
VONTOBEL FIN PRO       12.472   6/22/2012     EUR    63.18
VONTOBEL FIN PRO       12.462   6/22/2012     EUR    57.82
VONTOBEL FIN PRO       12.456   6/22/2012     EUR    51.66
VONTOBEL FIN PRO       12.451   6/22/2012     EUR    48.10
VONTOBEL FIN PRO       12.420   6/22/2012     EUR    21.88
VONTOBEL FIN PRO       12.414   6/22/2012     EUR    73.44
VONTOBEL FIN PRO       12.405   6/22/2012     EUR    72.06
VONTOBEL FIN PRO       12.403   6/22/2012     EUR    61.48
VONTOBEL FIN PRO       12.398   6/22/2012     EUR    60.66
VONTOBEL FIN PRO       12.393   6/22/2012     EUR    55.48
VONTOBEL FIN PRO       12.389   6/22/2012     EUR    42.90
VONTOBEL FIN PRO       12.382   6/22/2012     EUR    47.92
VONTOBEL FIN PRO       12.352   6/22/2012     EUR    49.96
VONTOBEL FIN PRO       12.348   6/22/2012     EUR    59.26
VONTOBEL FIN PRO       12.343   6/22/2012     EUR    40.12
VONTOBEL FIN PRO       12.340   6/22/2012     EUR    37.38
VONTOBEL FIN PRO       12.340   6/22/2012     EUR    56.91
VONTOBEL FIN PRO       12.334   6/22/2012     EUR    68.56
VONTOBEL FIN PRO       12.323   6/22/2012     EUR    30.86
VONTOBEL FIN PRO       12.311   6/22/2012     EUR    74.26
VONTOBEL FIN PRO       12.306   6/22/2012     EUR    65.68
VONTOBEL FIN PRO       12.303   6/22/2012     EUR    67.78
VONTOBEL FIN PRO       12.300   6/22/2012     EUR    50.16
VONTOBEL FIN PRO       12.298   6/22/2012     EUR    42.34
VONTOBEL FIN PRO       12.276   6/22/2012     EUR    41.96
VONTOBEL FIN PRO       12.264   6/22/2012     EUR    72.72
VONTOBEL FIN PRO       12.264   6/22/2012     EUR    65.38
VONTOBEL FIN PRO       12.260   6/22/2012     EUR    47.06
VONTOBEL FIN PRO       12.247   6/22/2012     EUR    44.52
VONTOBEL FIN PRO       12.226   6/22/2012     EUR    16.82
VONTOBEL FIN PRO       12.216   6/22/2012     EUR    55.78
VONTOBEL FIN PRO       12.204   6/22/2012     EUR    42.82
VONTOBEL FIN PRO       12.168   6/22/2012     EUR    46.18
VONTOBEL FIN PRO       12.164   6/22/2012     EUR    57.28
VONTOBEL FIN PRO       12.162   6/22/2012     EUR    60.36
VONTOBEL FIN PRO       12.148   6/22/2012     EUR    66.86
VONTOBEL FIN PRO       12.144   6/22/2012     EUR    56.62
VONTOBEL FIN PRO       12.123   6/22/2012     EUR    44.32
VONTOBEL FIN PRO       12.118   6/22/2012     EUR    57.98
VONTOBEL FIN PRO       12.117   6/22/2012     EUR    31.04
VONTOBEL FIN PRO       12.111   6/22/2012     EUR    57.66
VONTOBEL FIN PRO       12.103   6/22/2012     EUR    47.51
VONTOBEL FIN PRO       12.091   6/22/2012     EUR    65.40
VONTOBEL FIN PRO       12.038   6/22/2012     EUR    64.03
VONTOBEL FIN PRO       12.025   6/22/2012     EUR    64.18
VONTOBEL FIN PRO       12.017   6/22/2012     EUR    55.42
VONTOBEL FIN PRO       12.015   6/22/2012     EUR    72.54
VONTOBEL FIN PRO       12.013   6/22/2012     EUR    37.80
VONTOBEL FIN PRO       12.000   6/22/2012     EUR    64.86
VONTOBEL FIN PRO       12.000   6/22/2012     EUR    55.42
VONTOBEL FIN PRO       12.000   6/22/2012     EUR    59.72
VONTOBEL FIN PRO       11.983   6/22/2012     EUR    62.94
VONTOBEL FIN PRO       11.967   6/22/2012     EUR    43.88
VONTOBEL FIN PRO       11.962   6/22/2012     EUR    73.96
VONTOBEL FIN PRO       11.959   6/22/2012     EUR    70.98
VONTOBEL FIN PRO       11.955   6/22/2012     EUR    35.60
VONTOBEL FIN PRO       11.952   6/22/2012     EUR    49.08
VONTOBEL FIN PRO       11.944   6/22/2012     EUR    52.16
VONTOBEL FIN PRO       11.917   6/22/2012     EUR    61.04
VONTOBEL FIN PRO       11.910   6/22/2012     EUR    51.04
VONTOBEL FIN PRO       11.900   6/22/2012     EUR    59.98
VONTOBEL FIN PRO       11.888   6/22/2012     EUR    66.28
VONTOBEL FIN PRO       11.877   6/22/2012     EUR    67.19
VONTOBEL FIN PRO       11.867   6/22/2012     EUR    65.02
VONTOBEL FIN PRO       11.844   6/22/2012     EUR    47.84
VONTOBEL FIN PRO       11.819   6/22/2012     EUR    58.84
VONTOBEL FIN PRO       11.814   6/22/2012     EUR    70.14
VONTOBEL FIN PRO       11.811   6/22/2012     EUR    35.80
VONTOBEL FIN PRO       11.808   6/22/2012     EUR    55.90
VONTOBEL FIN PRO       11.807   6/22/2012     EUR    46.04
VONTOBEL FIN PRO       11.807   6/22/2012     EUR    48.94
VONTOBEL FIN PRO       11.800   6/22/2012     EUR    62.76
VONTOBEL FIN PRO       11.798   6/22/2012     EUR    74.14
VONTOBEL FIN PRO       11.793   6/22/2012     EUR    74.52
VONTOBEL FIN PRO       11.791   6/22/2012     EUR    57.04
VONTOBEL FIN PRO       11.778   6/22/2012     EUR    43.44
VONTOBEL FIN PRO       11.776   6/22/2012     EUR    66.80
VONTOBEL FIN PRO       11.774   6/22/2012     EUR    42.50
VONTOBEL FIN PRO       11.755   6/22/2012     EUR    71.76
VONTOBEL FIN PRO       11.750   6/22/2012     EUR    40.44
VONTOBEL FIN PRO       11.736   6/22/2012     EUR    32.52
VONTOBEL FIN PRO       11.713   6/22/2012     EUR    66.88
VONTOBEL FIN PRO       11.705   6/22/2012     EUR    38.91
VONTOBEL FIN PRO       11.705   6/22/2012     EUR    74.14
VONTOBEL FIN PRO       11.693   6/22/2012     EUR    38.44
VONTOBEL FIN PRO       11.682   6/22/2012     EUR    73.20
VONTOBEL FIN PRO       11.678   6/22/2012     EUR    71.08
VONTOBEL FIN PRO       11.647   6/22/2012     EUR    68.48
VONTOBEL FIN PRO       11.622   6/22/2012     EUR    53.46
VONTOBEL FIN PRO       11.614   6/22/2012     EUR    46.58
VONTOBEL FIN PRO       11.600   6/22/2012     EUR    52.30
VONTOBEL FIN PRO       11.591   6/22/2012     EUR    59.18
VONTOBEL FIN PRO       11.586   6/22/2012     EUR    48.55
VONTOBEL FIN PRO       11.585   6/22/2012     EUR    61.12
VONTOBEL FIN PRO       11.582   6/22/2012     EUR    52.26
VONTOBEL FIN PRO       11.581   6/22/2012     EUR    44.10
VONTOBEL FIN PRO       11.566   6/22/2012     EUR    41.34
VONTOBEL FIN PRO       11.565   6/22/2012     EUR    74.12
VONTOBEL FIN PRO       11.560   6/22/2012     EUR    36.06
VONTOBEL FIN PRO       11.556   6/22/2012     EUR    71.04
VONTOBEL FIN PRO       11.554   6/22/2012     EUR    64.62
VONTOBEL FIN PRO       11.554   6/22/2012     EUR    57.94
VONTOBEL FIN PRO       11.550   6/22/2012     EUR    69.40
VONTOBEL FIN PRO       11.546   6/22/2012     EUR    68.82
VONTOBEL FIN PRO       11.534   6/22/2012     EUR    54.56
VONTOBEL FIN PRO       11.534   6/22/2012     EUR    66.46
VONTOBEL FIN PRO       11.533   6/22/2012     EUR    63.86
VONTOBEL FIN PRO       11.514   6/22/2012     EUR    62.60
VONTOBEL FIN PRO       11.484   6/22/2012     EUR    51.60
VONTOBEL FIN PRO       11.472   6/22/2012     EUR    72.94
VONTOBEL FIN PRO       11.463   6/22/2012     EUR    70.98
VONTOBEL FIN PRO       11.455   6/22/2012     EUR    43.34
VONTOBEL FIN PRO       11.443   6/22/2012     EUR    59.66
VONTOBEL FIN PRO       11.430   6/22/2012     EUR    64.28
VONTOBEL FIN PRO       11.425   6/22/2012     EUR    57.54
VONTOBEL FIN PRO       11.425   6/22/2012     EUR    43.82
VONTOBEL FIN PRO       11.422   6/22/2012     EUR    43.42
VONTOBEL FIN PRO       11.409   6/22/2012     EUR    55.92
VONTOBEL FIN PRO       11.405   6/22/2012     EUR    67.58
VONTOBEL FIN PRO       11.405   6/22/2012     EUR    63.52
VONTOBEL FIN PRO       11.396   6/22/2012     EUR    45.61
VONTOBEL FIN PRO       11.394   6/22/2012     EUR    68.16
VONTOBEL FIN PRO       10.333   6/22/2012     EUR    61.64
VONTOBEL FIN PRO       10.364   6/22/2012     EUR    61.46
VONTOBEL FIN PRO       11.389   6/22/2012     EUR    60.16
VONTOBEL FIN PRO       11.389   6/22/2012     EUR    58.92
VONTOBEL FIN PRO       11.388   6/22/2012     EUR    69.98
VONTOBEL FIN PRO       11.377   6/22/2012     EUR    39.32
VONTOBEL FIN PRO       11.366   6/22/2012     EUR    47.24
VONTOBEL FIN PRO       11.361   6/22/2012     EUR    44.26
VONTOBEL FIN PRO       11.356   6/22/2012     EUR    56.14
VONTOBEL FIN PRO       11.350   6/22/2012     EUR    65.68
VONTOBEL FIN PRO       10.364   6/22/2012     EUR    61.46
VONTOBEL FIN PRO       10.371   6/22/2012     EUR    50.12
VONTOBEL FIN PRO       11.342   6/22/2012     EUR    68.68
VONTOBEL FIN PRO       11.333   6/22/2012     EUR    67.08
VONTOBEL FIN PRO       11.328   6/22/2012     EUR    59.04
VONTOBEL FIN PRO       11.319   6/22/2012     EUR    36.32
VONTOBEL FIN PRO       11.314   6/22/2012     EUR    69.22
VONTOBEL FIN PRO       11.305   6/22/2012     EUR    65.34
VONTOBEL FIN PRO       11.304   6/22/2012     EUR    46.24
VONTOBEL FIN PRO       11.296   6/22/2012     EUR    55.88
VONTOBEL FIN PRO       11.287   6/22/2012     EUR    58.58
VONTOBEL FIN PRO       11.283   6/22/2012     EUR    37.26
VONTOBEL FIN PRO       11.268   6/22/2012     EUR    74.92
VONTOBEL FIN PRO       11.243   6/22/2012     EUR    70.18
VONTOBEL FIN PRO       11.239   6/22/2012     EUR    68.44
VONTOBEL FIN PRO       10.389   6/22/2012     EUR    66.86
VONTOBEL FIN PRO       11.238   6/22/2012     EUR    40.06
VONTOBEL FIN PRO       11.237   6/22/2012     EUR    67.50
VONTOBEL FIN PRO       11.227   6/22/2012     EUR    66.84
VONTOBEL FIN PRO       11.219   6/22/2012     EUR    55.73
VONTOBEL FIN PRO       11.219   6/22/2012     EUR    53.06
VONTOBEL FIN PRO       11.215   6/22/2012     EUR    74.10
VONTOBEL FIN PRO       11.194   6/22/2012     EUR    68.66
VONTOBEL FIN PRO       11.194   6/22/2012     EUR    61.72
VONTOBEL FIN PRO       11.172   6/22/2012     EUR    73.76
VONTOBEL FIN PRO       11.161   6/22/2012     EUR    72.72
VONTOBEL FIN PRO       11.138   6/22/2012     EUR    64.02
VONTOBEL FIN PRO       11.135   6/22/2012     EUR    64.16
VONTOBEL FIN PRO       11.130   6/22/2012     EUR    65.65
VONTOBEL FIN PRO       11.129   6/22/2012     EUR    63.52
VONTOBEL FIN PRO       11.123   6/22/2012     EUR    67.68
VONTOBEL FIN PRO       11.117   6/22/2012     EUR    59.52
VONTOBEL FIN PRO       11.103   6/22/2012     EUR    59.00
VONTOBEL FIN PRO       11.098   6/22/2012     EUR    59.66
VONTOBEL FIN PRO       11.080   6/22/2012     EUR    56.16
VONTOBEL FIN PRO       11.080   6/22/2012     EUR    70.26
VONTOBEL FIN PRO       11.056   6/22/2012     EUR    63.28
VONTOBEL FIN PRO       11.052   6/22/2012     EUR    37.72
VONTOBEL FIN PRO       11.052   6/22/2012     EUR    74.53
VONTOBEL FIN PRO       11.032   6/22/2012     EUR    70.98
VONTOBEL FIN PRO       11.029   6/22/2012     EUR    57.84
WESTLB AG               0.100   9/27/2012     EUR    56.72
WESTLB AG               0.075   9/27/2012     EUR    68.34
WESTLB AG               5.250   5/21/2012     EUR    57.66
WESTLB AG              12.000   9/27/2012     EUR    74.92
WESTLB AG               7.000   6/21/2012     EUR    58.08
WESTLB AG               7.000   6/21/2012     EUR    70.38
WESTLB AG               7.000   6/21/2012     EUR    71.23
WESTLB AG               7.000   6/21/2012     EUR    70.08
WESTLB AG               6.000   6/21/2012     EUR    61.20
WESTLB AG               8.500   6/21/2012     EUR    47.27
WESTLB AG               6.000   6/21/2012     EUR    57.86
WESTLB AG               8.500   6/21/2012     EUR    50.38
WESTLB AG               0.100   9/27/2012     EUR    47.61
WESTLB AG               5.000   4/12/2016     EUR    29.01
WESTLB AG               6.750   7/30/2012     EUR    56.21
WESTLB AG               8.500   6/21/2012     EUR    65.96
WESTLB AG               6.500   6/18/2012     EUR    70.62
WESTLB AG               0.100   9/27/2012     EUR    66.51
WESTLB AG               0.075   9/27/2012     EUR    68.03
WESTLB AG               0.075   9/27/2012     EUR    56.02
WESTLB AG               0.075   9/27/2012     EUR    73.66
WESTLB AG               0.075   9/27/2012     EUR    63.46
WGZ BANK                8.000   6/21/2012     EUR    57.06
WGZ BANK                5.000  12/20/2012     EUR    73.25
WGZ BANK                6.000  12/20/2012     EUR    68.71
WGZ BANK                7.000  12/20/2012     EUR    64.78
WGZ BANK                8.000   6/13/2012     EUR    32.08
WGZ BANK                4.000   6/13/2012     EUR    41.08
WGZ BANK                8.000  12/20/2012     EUR    63.31
WGZ BANK                6.000  12/21/2012     EUR    74.44
WGZ BANK                7.000  12/21/2012     EUR    69.89
WGZ BANK                8.000  12/21/2012     EUR    68.13
WGZ BANK                4.000  12/28/2012     EUR    69.50
WGZ BANK                5.000  12/28/2012     EUR    64.94
WGZ BANK                6.000  12/28/2012     EUR    60.98
WGZ BANK                7.000  12/28/2012     EUR    57.60
WGZ BANK                8.000  12/28/2012     EUR    54.69
WGZ BANK                7.000   6/13/2012     EUR    33.51
WGZ BANK                6.000   6/13/2012     EUR    35.09
WGZ BANK                7.000   6/15/2012     EUR    74.41
WGZ BANK                8.000   6/15/2012     EUR    71.41
WGZ BANK                4.000   6/21/2012     EUR    66.72
WGZ BANK                5.000   6/21/2012     EUR    63.98
WGZ BANK                6.000   6/21/2012     EUR    61.48
WGZ BANK                7.000   6/21/2012     EUR    59.18
WGZ BANK                5.000   6/13/2012     EUR    36.85

GREECE
------
EFG EUROBANK            6.010    1/9/2036     EUR    34.25
HELLENIC REPUB          4.625   6/25/2013     EUR    30.50
HELLENIC REPUB          4.625   6/25/2013     USD    30.75
HELLENIC REPUB          2.125    7/5/2013     CHF    28.75
HELLENIC REPUB          5.800   7/14/2015     JPY    30.50
HELLENIC REPUB          5.800   7/14/2015     JPY    28.88
HELLENIC REPUB          5.250    2/1/2016     JPY    29.50
HELLENIC REPUB          5.250    2/1/2016     JPY    30.50
HELLENIC REPUB          5.000   8/22/2016     JPY    31.50
HELLENIC REPUB          5.000   8/22/2016     JPY    30.50
HELLENIC REPUB          4.500   11/8/2016     JPY    30.50
HELLENIC REPUB          4.500    7/3/2017     JPY    29.88
HELLENIC REPUB          3.800    8/8/2017     JPY    29.50
HELLENIC REPUB          5.000   3/11/2019     EUR    30.13
HELLENIC REPUB          5.000   3/11/2019     EUR    30.50
HELLENIC REPUB          6.140   4/14/2028     EUR    28.00
HELLENIC REPUB          5.200   7/17/2034     EUR    26.88
HELLENIC REPUB          2.085   7/25/2057     EUR     7.63
NATL BK GREECE          3.875   10/7/2016     EUR    70.00
YIOULA GLASSWORK        9.000   12/1/2015     EUR    42.83
YIOULA GLASSWORK        9.000   12/1/2015     EUR    42.00

GUERNSEY
--------
BCV GUERNSEY            8.020    3/1/2013     EUR    51.95
BCV GUERNSEY            7.850   5/18/2012     CHF    65.72
BCV GUERNSEY           10.000   5/18/2012     CHF    54.57
BCV GUERNSEY           13.000   5/18/2012     CHF    59.11
BCV GUERNSEY           10.100   5/23/2012     EUR    70.99
BCV GUERNSEY            9.030   7/13/2012     EUR    62.03
BCV GUERNSEY            9.200   5/31/2012     CHF    72.12
BCV GUERNSEY            9.100   5/25/2012     CHF    58.79
BCV GUERNSEY            8.500   5/25/2012     EUR    52.42
BCV GUERNSEY           14.000   5/22/2012     USD    69.55
BCV GUERNSEY           10.530   6/29/2012     CHF    68.64
BKB FINANCE             6.250   5/23/2012     CHF    67.92
BKB FINANCE             6.250   7/12/2012     CHF    69.57
BKB FINANCE             7.750   5/31/2012     CHF    56.89
BKB FINANCE             9.300   5/31/2012     CHF    67.79
BKB FINANCE             8.350   1/14/2013     CHF    50.37
BKB FINANCE             7.750    6/7/2012     CHF    40.04
BKB FINANCE             6.520    7/6/2012     EUR    70.40
BKB FINANCE             8.300    6/7/2012     CHF    62.64
BKB FINANCE             6.300   7/12/2012     CHF    57.28
BKB FINANCE             9.050    8/9/2012     CHF    57.74
BKB FINANCE             8.900   9/27/2012     CHF    63.32
BKB FINANCE             6.850   6/14/2012     CHF    69.56
BKB FINANCE             9.200   6/21/2012     CHF    57.88
BKB FINANCE             7.400   6/28/2012     CHF    55.70
BKB FINANCE             6.850   5/31/2012     CHF    67.50
EFG FINANCIAL PR        9.000  11/13/2012     CHF    74.06
EFG FINANCIAL PR        6.000  11/12/2015     EUR    73.67
EFG FINANCIAL PR        5.850  10/14/2014     CHF    63.82
EFG FINANCIAL PR        8.160   4/25/2014     EUR    62.32
EFG FINANCIAL PR       19.000   10/3/2013     GBP    72.08
EFG FINANCIAL PR        8.400   9/30/2013     CHF    56.67
EFG FINANCIAL PR        6.500   8/27/2013     CHF    47.83
EFG FINANCIAL PR       12.000   4/26/2013     CHF    64.51
EFG FINANCIAL PR        7.000   4/19/2013     EUR    56.83
EFG FINANCIAL PR       15.370    4/2/2013     USD    72.25
EFG FINANCIAL PR       11.750   3/26/2013     EUR    70.98
EFG FINANCIAL PR       10.750   3/19/2013     USD    69.81
EFG FINANCIAL PR        7.500   3/18/2013     CHF    72.37
EFG FINANCIAL PR        6.750   3/11/2013     EUR    62.69
EFG FINANCIAL PR       10.000    3/6/2013     USD    69.49
EFG FINANCIAL PR       14.000   2/19/2013     CHF    17.60
EFG FINANCIAL PR        5.800   1/23/2013     CHF    68.41
EFG FINANCIAL PR       13.000   1/15/2013     CHF    71.20
EFG FINANCIAL PR       12.500   1/15/2013     CHF    53.33
EFG FINANCIAL PR       11.250   1/15/2013     GBP    68.95
EFG FINANCIAL PR       10.250   1/15/2013     CHF    21.49
EFG FINANCIAL PR        9.000   1/15/2013     CHF    50.09
EFG FINANCIAL PR        8.830  12/28/2012     USD    53.23
EFG FINANCIAL PR       12.000  12/27/2012     CHF    12.08
EFG FINANCIAL PR       12.600  12/21/2012     CHF    61.14
EFG FINANCIAL PR       10.900  12/21/2012     CHF    60.20
EFG FINANCIAL PR       10.300  12/21/2012     CHF    74.78
EFG FINANCIAL PR        9.400  12/21/2012     CHF    73.51
EFG FINANCIAL PR        9.300  12/21/2012     CHF    58.98
EFG FINANCIAL PR        7.000  12/19/2012     USD    71.87
EFG FINANCIAL PR        7.000  12/19/2012     CHF    72.32
EFG FINANCIAL PR        7.000  12/19/2012     EUR    72.51
EFG FINANCIAL PR       17.500  12/14/2012     EUR    45.84
EFG FINANCIAL PR       14.250  12/14/2012     GBP    74.76
EFG FINANCIAL PR       14.250  12/14/2012     EUR    69.79
EFG FINANCIAL PR       12.750  12/14/2012     CHF    73.74
EFG FINANCIAL PR       10.250  12/14/2012     CHF    72.11
EFG FINANCIAL PR        8.500  12/14/2012     CHF    65.64
EFG FINANCIAL PR        9.750   12/3/2012     CHF    73.00
EFG FINANCIAL PR       16.000  11/27/2012     EUR    43.39
EFG FINANCIAL PR       14.500  11/27/2012     CHF    73.25
EFG FINANCIAL PR       14.500  11/27/2012     CHF    36.61
EFG FINANCIAL PR       13.250  11/27/2012     CHF    74.40
EFG FINANCIAL PR       11.250  11/27/2012     CHF    61.46
EFG FINANCIAL PR       10.500  11/27/2012     CHF    74.99
EFG FINANCIAL PR        9.250  11/27/2012     CHF    67.54
EFG FINANCIAL PR       14.800  11/20/2012     EUR    44.71
EFG FINANCIAL PR       11.500  11/20/2012     EUR    51.14
EFG FINANCIAL PR        9.400  11/20/2012     EUR    69.23
EFG FINANCIAL PR        9.300  11/20/2012     CHF    70.20
EFG FINANCIAL PR        8.400  11/20/2012     CHF    69.16
EFG FINANCIAL PR        8.300  11/20/2012     CHF    63.91
EFG FINANCIAL PR        8.000  11/20/2012     CHF    53.15
EFG FINANCIAL PR        8.000  11/20/2012     CHF    70.90
EFG FINANCIAL PR        7.000  11/20/2012     CHF    67.09
EFG FINANCIAL PR       12.830  11/19/2012     CHF    63.54
EFG FINANCIAL PR       11.600  11/19/2012     CHF    69.17
EFG FINANCIAL PR       17.000  11/13/2012     EUR    42.24
EFG FINANCIAL PR       14.750  11/13/2012     CHF    65.63
EFG FINANCIAL PR       14.500  11/13/2012     EUR    52.57
EFG FINANCIAL PR       14.000  11/13/2012     USD    17.85
EFG FINANCIAL PR       13.000  11/13/2012     CHF    66.02
EFG FINANCIAL PR       13.000  11/13/2012     CHF    17.67
EFG FINANCIAL PR       12.750  11/13/2012     CHF    16.55
EFG FINANCIAL PR       12.750  11/13/2012     CHF    63.32
EFG FINANCIAL PR       12.500  11/13/2012     EUR    65.22
EFG FINANCIAL PR       12.250  11/13/2012     CHF    71.89
EFG FINANCIAL PR       12.000  11/13/2012     CHF    69.43
EFG FINANCIAL PR       11.000  11/13/2012     CHF    74.19
EFG FINANCIAL PR       10.750  11/13/2012     CHF    73.60
EFG FINANCIAL PR       10.500  11/13/2012     CHF    54.60
EFG FINANCIAL PR       10.500  11/13/2012     CHF    54.41
EFG FINANCIAL PR        6.000  11/12/2012     CHF    49.49
EFG FINANCIAL PR        6.000  11/12/2012     EUR    51.18
EFG FINANCIAL PR       11.050   11/8/2012     USD    52.16
EFG FINANCIAL PR       13.080   11/5/2012     CHF    67.25
EFG FINANCIAL PR        9.330  10/29/2012     USD    51.70
EFG FINANCIAL PR       21.000  10/26/2012     USD    19.74
EFG FINANCIAL PR       20.500  10/26/2012     EUR    19.92
EFG FINANCIAL PR       20.000  10/26/2012     CHF    19.34
EFG FINANCIAL PR       17.000  10/26/2012     EUR    34.84
EFG FINANCIAL PR       16.750  10/26/2012     CHF    30.18
EFG FINANCIAL PR       15.000  10/26/2012     CHF    67.92
EFG FINANCIAL PR       13.250  10/26/2012     CHF    53.97
EFG FINANCIAL PR       13.250  10/26/2012     EUR    59.53
EFG FINANCIAL PR       12.000  10/26/2012     CHF    59.00
EFG FINANCIAL PR       11.250  10/26/2012     CHF    53.18
EFG FINANCIAL PR       11.000  10/26/2012     USD    71.58
EFG FINANCIAL PR       10.500  10/26/2012     CHF    71.65
EFG FINANCIAL PR        6.250  10/25/2012     CHF    67.07
EFG FINANCIAL PR       13.750  10/24/2012     USD    58.46
EFG FINANCIAL PR       12.000  10/19/2012     USD    45.84
EFG FINANCIAL PR       17.250  10/12/2012     CHF    71.81
EFG FINANCIAL PR       16.250  10/12/2012     CHF    74.87
EFG FINANCIAL PR       14.500  10/12/2012     CHF    74.63
EFG FINANCIAL PR       20.000  10/11/2012     CHF    18.18
EFG FINANCIAL PR       18.000  10/11/2012     EUR    50.47
EFG FINANCIAL PR       12.500  10/11/2012     GBP    63.79
EFG FINANCIAL PR       12.500  10/11/2012     CHF    52.87
EFG FINANCIAL PR       12.250  10/11/2012     EUR    64.03
EFG FINANCIAL PR       12.250  10/11/2012     EUR    72.03
EFG FINANCIAL PR       12.000  10/11/2012     USD    63.82
EFG FINANCIAL PR       11.500  10/11/2012     CHF    63.76
EFG FINANCIAL PR        9.750  10/11/2012     CHF    70.69
EFG FINANCIAL PR       10.620   10/3/2012     USD    27.34
EFG FINANCIAL PR        9.930   10/3/2012     EUR    27.28
EFG FINANCIAL PR       10.000   10/2/2012     EUR    73.44
EFG FINANCIAL PR       10.000   10/1/2012     CHF    52.91
EFG FINANCIAL PR        8.500   10/1/2012     CHF    74.01
EFG FINANCIAL PR       12.000   9/25/2012     EUR    66.19
EFG FINANCIAL PR       11.750   9/25/2012     EUR    74.92
EFG FINANCIAL PR       11.250   9/25/2012     CHF    74.61
EFG FINANCIAL PR       11.250   9/25/2012     EUR    69.54
EFG FINANCIAL PR       11.250   9/25/2012     CHF    52.08
EFG FINANCIAL PR       11.000   9/25/2012     USD    69.03
EFG FINANCIAL PR       10.750   9/25/2012     CHF    53.91
EFG FINANCIAL PR       10.250   9/25/2012     CHF    69.09
EFG FINANCIAL PR       10.000   9/21/2012     USD    47.56
EFG FINANCIAL PR        9.350   9/18/2012     EUR    74.73
EFG FINANCIAL PR        8.650   9/18/2012     EUR    74.65
EFG FINANCIAL PR        8.210   9/18/2012     EUR    74.38
EFG FINANCIAL PR       11.450   9/17/2012     CHF    73.42
EFG FINANCIAL PR       11.000   9/17/2012     USD    66.66
EFG FINANCIAL PR       11.000   9/10/2012     EUR    70.62
EFG FINANCIAL PR       11.000   9/10/2012     EUR    70.46
EFG FINANCIAL PR       10.000   9/10/2012     EUR    65.44
EFG FINANCIAL PR        9.800   9/10/2012     AUD    71.22
EFG FINANCIAL PR        9.000   9/10/2012     CHF    48.21
EFG FINANCIAL PR        8.250   9/10/2012     EUR    74.78
EFG FINANCIAL PR        7.500   9/10/2012     CHF    71.05
EFG FINANCIAL PR        8.500    9/7/2012     USD    38.48
EFG FINANCIAL PR        7.250    9/7/2012     EUR    65.34
EFG FINANCIAL PR        7.000    9/7/2012     EUR    50.80
EFG FINANCIAL PR        7.000    9/7/2012     CHF    45.25
EFG FINANCIAL PR        9.600    9/4/2012     USD    53.91
EFG FINANCIAL PR        9.500    9/4/2012     USD    34.92
EFG FINANCIAL PR       12.250    9/3/2012     CHF    66.97
EFG FINANCIAL PR       12.200    9/3/2012     CHF    68.03
EFG FINANCIAL PR       12.000    9/3/2012     EUR    65.05
EFG FINANCIAL PR       10.500    9/3/2012     CHF    47.90
EFG FINANCIAL PR       10.260   8/31/2012     EUR    65.58
EFG FINANCIAL PR       14.750   8/30/2012     EUR    71.86
EFG FINANCIAL PR       12.250   8/30/2012     USD    72.41
EFG FINANCIAL PR       10.000   8/30/2012     EUR    65.54
EFG FINANCIAL PR       22.000   8/24/2012     USD    18.95
EFG FINANCIAL PR       14.000   8/24/2012     CHF    25.10
EFG FINANCIAL PR       13.000   8/24/2012     EUR    66.51
EFG FINANCIAL PR       12.500   8/24/2012     CHF    66.66
EFG FINANCIAL PR       12.250   8/24/2012     EUR    63.80
EFG FINANCIAL PR       11.750   8/24/2012     CHF    53.93
EFG FINANCIAL PR       11.500   8/24/2012     CHF    46.92
EFG FINANCIAL PR       10.250   8/24/2012     CHF    69.70
EFG FINANCIAL PR        9.000   8/24/2012     CHF    71.11
EFG FINANCIAL PR       11.800   8/17/2012     CHF    50.07
EFG FINANCIAL PR       11.600   8/17/2012     EUR    56.10
EFG FINANCIAL PR       19.600   8/16/2012     EUR    61.66
EFG FINANCIAL PR       12.000   8/16/2012     EUR    24.52
EFG FINANCIAL PR       15.000   8/14/2012     EUR    67.71
EFG FINANCIAL PR       14.000   8/14/2012     EUR    66.68
EFG FINANCIAL PR       13.750   8/14/2012     EUR    67.24
EFG FINANCIAL PR       13.250   8/14/2012     GBP    66.59
EFG FINANCIAL PR       13.000   8/14/2012     EUR    66.47
EFG FINANCIAL PR       12.750   8/14/2012     CHF    48.40
EFG FINANCIAL PR       12.500   8/14/2012     CHF    66.13
EFG FINANCIAL PR       11.000   8/14/2012     CHF    53.90
EFG FINANCIAL PR       10.000   8/14/2012     CHF    72.21
EFG FINANCIAL PR        8.500   8/14/2012     CHF    65.37
EFG FINANCIAL PR        3.850   8/13/2012     EUR    42.59
EFG FINANCIAL PR       12.800   8/10/2012     CHF    58.01
EFG FINANCIAL PR       12.500   8/10/2012     EUR    73.12
EFG FINANCIAL PR       11.700   8/10/2012     USD    25.56
EFG FINANCIAL PR       10.000   8/10/2012     CHF    66.70
EFG FINANCIAL PR       19.000    8/8/2012     USD    39.92
EFG FINANCIAL PR       12.000    8/7/2012     CHF    73.15
EFG FINANCIAL PR       11.000    8/7/2012     CHF    33.91
EFG FINANCIAL PR       11.000    8/7/2012     CHF    70.68
EFG FINANCIAL PR       10.250    8/7/2012     CHF    67.73
EFG FINANCIAL PR       10.000    8/7/2012     CHF    47.97
EFG FINANCIAL PR        7.250    8/7/2012     CHF    70.75
EFG FINANCIAL PR        9.000    8/3/2012     CHF     9.61
EFG FINANCIAL PR        9.000    8/3/2012     CHF    57.76
EFG FINANCIAL PR        9.000    8/3/2012     CHF    74.13
EFG FINANCIAL PR        9.000    8/3/2012     CHF    71.10
EFG FINANCIAL PR        9.000    8/3/2012     CHF    53.61
EFG FINANCIAL PR        8.000    8/3/2012     EUR    71.39
EFG FINANCIAL PR       15.500   7/31/2012     GBP    70.06
EFG FINANCIAL PR       15.000   7/31/2012     CHF    69.71
EFG FINANCIAL PR       11.750   7/31/2012     CHF    48.31
EFG FINANCIAL PR       11.750   7/31/2012     CHF    48.11
EFG FINANCIAL PR       11.500   7/31/2012     EUR    52.31
EFG FINANCIAL PR       10.000   7/31/2012     CHF    72.43
EFG FINANCIAL PR       10.000   7/31/2012     CHF    47.75
EFG FINANCIAL PR        9.500   7/31/2012     CHF    72.24
EFG FINANCIAL PR       12.000   7/25/2012     GBP    63.77
EFG FINANCIAL PR       11.750   7/25/2012     EUR    67.59
EFG FINANCIAL PR       11.300   7/25/2012     CHF    62.99
EFG FINANCIAL PR       11.000   7/25/2012     CHF    13.37
EFG FINANCIAL PR       11.000   7/25/2012     CHF    63.50
EFG FINANCIAL PR       11.000   7/25/2012     EUR    70.95
EFG FINANCIAL PR       10.250   7/25/2012     CHF    45.36
EFG FINANCIAL PR       10.000   7/25/2012     CHF    62.03
EFG FINANCIAL PR        8.500   7/25/2012     CHF    71.81
EFG FINANCIAL PR        9.770   7/23/2012     EUR    62.47
EFG FINANCIAL PR       10.830   7/20/2012     CHF    73.60
EFG FINANCIAL PR        6.000   7/13/2012     EUR    69.54
EFG FINANCIAL PR       12.750   7/12/2012     EUR    65.42
EFG FINANCIAL PR        9.300    7/6/2012     CHF    59.13
EFG FINANCIAL PR       19.570    7/5/2012     EUR    64.39
EFG FINANCIAL PR       10.500    7/5/2012     CHF    45.37
EFG FINANCIAL PR        8.250    7/5/2012     CHF    66.56
EFG FINANCIAL PR       13.250    7/4/2012     EUR    69.65
EFG FINANCIAL PR       12.500    7/4/2012     USD    69.61
EFG FINANCIAL PR       12.100    7/4/2012     CHF    69.69
EFG FINANCIAL PR       11.500    7/4/2012     EUR    69.03
EFG FINANCIAL PR        8.250    7/4/2012     EUR    67.42
EFG FINANCIAL PR        6.600    7/4/2012     CHF    67.14
EFG FINANCIAL PR       13.200   6/28/2012     EUR    63.01
EFG FINANCIAL PR       12.000   6/28/2012     USD    66.62
EFG FINANCIAL PR       11.300   6/28/2012     EUR    54.99
EFG FINANCIAL PR        8.200   6/28/2012     GBP    73.37
EFG FINANCIAL PR        8.100   6/28/2012     USD    72.98
EFG FINANCIAL PR       16.500   6/27/2012     GBP    55.30
EFG FINANCIAL PR        6.750   6/27/2012     EUR    63.67
EFG FINANCIAL PR       16.020   6/26/2012     CHF    74.87
EFG FINANCIAL PR       10.000   6/22/2012     CHF    43.82
EFG FINANCIAL PR        7.000   6/21/2012     CHF    52.54
EFG FINANCIAL PR        9.650   6/20/2012     USD    40.76
EFG FINANCIAL PR       13.110   6/18/2012     USD    48.79
EFG FINANCIAL PR       12.250   6/15/2012     EUR     8.00
EFG FINANCIAL PR       11.500   6/15/2012     EUR    62.42
EFG FINANCIAL PR        8.800   6/15/2012     CHF    70.92
EFG FINANCIAL PR        5.200   6/14/2012     CHF    51.39
EFG FINANCIAL PR       12.250    6/8/2012     EUR    49.77
EFG FINANCIAL PR       10.000    6/8/2012     CHF    28.91
EFG FINANCIAL PR       12.750    6/6/2012     EUR    58.37
EFG FINANCIAL PR       12.750    6/6/2012     CHF    55.08
EFG FINANCIAL PR       10.000    6/6/2012     CHF    66.25
EFG FINANCIAL PR        8.000    6/6/2012     CHF    66.12
EFG FINANCIAL PR        8.320    6/5/2012     CHF    73.31
EFG FINANCIAL PR       16.000   5/31/2012     GBP    69.19
EFG FINANCIAL PR        6.000   5/31/2012     USD    70.01
EFG FINANCIAL PR       12.500   5/30/2012     EUR    52.67
EFG FINANCIAL PR       10.000   5/30/2012     EUR    63.04
EFG FINANCIAL PR       10.000   5/30/2012     CHF    56.37
EFG FINANCIAL PR        8.400   5/30/2012     EUR    68.96
EFG FINANCIAL PR       10.910   5/29/2012     EUR    36.87
EFG FINANCIAL PR       12.840   5/25/2012     EUR    70.07
EFG FINANCIAL PR       11.200   5/25/2012     CHF    60.63
EFG FINANCIAL PR       10.650   5/25/2012     EUR    67.90
EFG FINANCIAL PR       10.570   5/25/2012     EUR    53.30
EFG FINANCIAL PR       10.440   5/25/2012     EUR    73.40
EFG FINANCIAL PR        9.430   5/25/2012     EUR    70.36
EFG FINANCIAL PR        7.440   5/25/2012     EUR    51.16
EFG FINANCIAL PR        6.100   5/25/2012     EUR    67.56
EFG FINANCIAL PR        9.000   5/24/2012     CHF    66.64
EFG FINANCIAL PR        8.000   5/24/2012     USD    39.20
EFG FINANCIAL PR       14.000   5/22/2012     EUR    65.94
EFG FINANCIAL PR       12.750   5/22/2012     EUR    64.71
EFG FINANCIAL PR       11.250   5/22/2012     CHF    49.89
EFG FINANCIAL PR       10.750   5/22/2012     CHF    64.36
EFG FINANCIAL PR       12.960   5/21/2012     EUR    15.81
EFG FINANCIAL PR       12.500   5/18/2012     EUR    71.69
EFG FINANCIAL PR       10.830   5/18/2012     CHF     0.96
MARE BALTIC PCC         2.000   11/1/2015     DKK     0.01
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    20.00
SARASIN CI LTD         10.250   5/25/2012     EUR    71.60
SARASIN CI LTD          6.000    6/9/2014     EUR    59.06
ZURCHER KANT FIN        8.000   6/15/2012     CHF    59.09
ZURCHER KANT FIN        6.769   5/23/2012     CHF    74.43
ZURCHER KANT FIN        9.050   6/29/2012     CHF    67.14
ZURCHER KANT FIN        7.721   6/22/2012     CHF    62.36
ZURCHER KANT FIN        9.000   6/18/2012     CHF    50.16
ZURCHER KANT FIN       13.575   6/15/2012     CHF    70.53
ZURCHER KANT FIN       11.263   6/15/2012     CHF    65.25
ZURCHER KANT FIN        9.700   6/15/2012     EUR    68.61
ZURCHER KANT FIN        8.548    7/6/2012     EUR    68.30
ZURCHER KANT FIN        7.844   5/18/2012     CHF    58.69
ZURCHER KANT FIN        8.000   7/13/2012     CHF    65.05
ZURCHER KANT FIN       11.000   7/13/2012     CHF    66.37
ZURCHER KANT FIN       12.067   7/13/2012     CHF    70.23
ZURCHER KANT FIN       10.250   7/19/2012     CHF    67.10
ZURCHER KANT FIN        9.250   11/9/2012     CHF    55.05
ZURCHER KANT FIN        7.340   4/16/2013     CHF    56.30

HUNGARY
-------
FHB MORTGAGE BAN        4.500   3/22/2022     EUR    62.38

IRELAND
-------
AIB MORTGAGE BNK        5.000    3/1/2030     EUR    55.79
AIB MORTGAGE BNK        5.000   2/12/2030     EUR    55.81
AIB MORTGAGE BNK        5.580   4/28/2028     EUR    61.83
BANK OF IRELAND         5.600   9/18/2023     EUR    57.13
BANK OF IRELAND         4.473  11/30/2016     EUR    73.75
BK IRELAND MTGE         5.760    9/7/2029     EUR    66.65
BK IRELAND MTGE         5.400   11/6/2029     EUR    63.51
BK IRELAND MTGE         5.360  10/12/2029     EUR    63.23
BK IRELAND MTGE         5.450    3/1/2030     EUR    63.59
DEPFA ACS BANK          5.125   3/16/2037     USD    70.43
DEPFA ACS BANK          0.500    3/3/2025     CAD    45.21
DEPFA ACS BANK          4.900   8/24/2035     CAD    73.50
DEPFA ACS BANK          3.250   7/31/2031     CHF    68.63
DEPFA ACS BANK          5.125   3/16/2037     USD    70.88
FIRST ACTIVE PLC        6.375    4/4/2018     GBP    74.60
KALVEBOD PLC            2.000    5/1/2106     DKK    35.00

ITALY
-----
BANCA MARCHE            4.000   5/26/2021     EUR    74.50
BANCA MARCHE            3.700    9/1/2020     EUR    74.75
BANCA POP MILANO        4.500   4/18/2018     EUR    74.88
BANCA POP VICENT        4.970   4/20/2027     EUR    65.95
BP CIVIDALE             3.180   5/19/2020     EUR    69.88
BTPS I/L                2.550   9/15/2041     EUR    69.32
BTPS I/L                2.350   9/15/2035     EUR    69.19
ICCREA BANCAIMPR        5.220   4/11/2017     EUR    58.00
INTESA SANPAOLO         2.882   4/20/2020     EUR    74.00
INTESA SANPAOLO         3.750    3/2/2020     EUR    74.81
MONTE DEI PASCHI        5.750   9/30/2016     GBP    76.12
REP OF ITALY            2.870   5/19/2036     JPY    54.09
REP OF ITALY            5.250   12/7/2034     GBP    75.93
REP OF ITALY            1.850   9/15/2057     EUR    49.72
REP OF ITALY            2.200   9/15/2058     EUR    56.23
REP OF ITALY            4.850   6/11/2060     EUR    73.05
REP OF ITALY            2.000   9/15/2062     EUR    51.16
SANPAOLO IMI            5.625   3/18/2024     GBP    76.21
SEAT PAGINE            10.500   1/31/2017     EUR    64.17
SEAT PAGINE            10.500   1/31/2017     EUR    65.00
TELECOM ITALIA          5.250   3/17/2055     EUR    69.97
UBI BANCA SPCA          6.250  11/18/2018     EUR    51.44
UNICREDIT SPA           5.050   4/25/2022     EUR    73.10
UNIPOL ASSICURAZ        5.660   7/28/2023     EUR    64.00

LUXEMBOURG
----------
ARCELORMITTAL           7.250    4/1/2014     EUR    21.95
CONTROLINVESTE          3.000   1/28/2015     EUR    73.98
DEXIA BQ INT LUX        6.000    7/2/2018     EUR    74.59
ESFG INTERNATION        6.875  10/21/2019     EUR    67.00
ESPIRITO SANTO F        9.750  12/19/2025     EUR    65.52
FORTIS LUX FINAN        6.500  10/22/2012     EUR    73.00
HELLAS III              8.500  10/15/2013     EUR     0.25
HELLAS III              8.500  10/15/2013     EUR     0.25
LIGHTHOUSE INTL         8.000   4/30/2014     EUR    11.63
LIGHTHOUSE INTL         8.000   4/30/2014     EUR    11.63
ORCO PROPERTY GR        1.000   4/30/2020     EUR    43.75
VIVALDIS                0.500    8/8/2028     EUR    60.47
VIVALDIS                0.500   6/13/2028     EUR    56.50
VIVALDIS                0.500   6/13/2013     EUR    56.50

NETHERLANDS
-----------
APP INTL FINANCE       11.750   10/1/2005     USD     8.75
ASTANA FINANCE          9.000  11/16/2011     USD     3.00
ASTANA FINANCE          7.875    6/8/2010     EUR     2.83
ASTANA FINANCE         14.500    7/2/2013     USD     3.00
BK NED GEMEENTEN        0.500   9/15/2016     TRY    74.03
BK NED GEMEENTEN        0.500   6/22/2016     TRY    74.95
BK NED GEMEENTEN        0.500   6/22/2021     ZAR    50.97
BK NED GEMEENTEN        0.500   5/10/2017     TRY    72.40
BK NED GEMEENTEN        0.500   5/12/2021     ZAR    51.47
BK NED GEMEENTEN        0.500   3/29/2021     NZD    68.99
BK NED GEMEENTEN        0.500   5/22/2017     ZAR    74.28
BK NED GEMEENTEN        0.500    3/3/2021     NZD    69.25
BK NED GEMEENTEN        0.500   6/12/2017     TRY    73.18
BK NED GEMEENTEN        0.500   2/24/2025     CAD    65.75
BK NED GEMEENTEN        0.500    6/7/2022     ZAR    50.10
BLT FINANCE BV          7.500   5/15/2014     USD    17.88
BLT FINANCE BV          7.500   5/15/2014     USD    23.00
BLT FINANCE BV         12.000   2/10/2015     USD    24.13
BRIT INSURANCE          6.625   12/9/2030     GBP    57.86
BULGARIA STEEL         12.000    5/4/2013     EUR     5.88
BULGARIA STEEL         12.000    5/4/2013     EUR     5.88
ENEL FIN INTL NV        5.750   9/14/2040     GBP    75.53
GREENWICH AVENUE       10.000   6/30/2013     USD     0.63
ING BANK NV             4.200  12/19/2035     EUR    66.60
LEHMAN BROS TR B        3.500   9/29/2017     EUR     5.25
LEHMAN BROS TSY         2.500   8/15/2012     CHF     5.25
LEHMAN BROS TSY        13.000   7/25/2012     EUR    16.00
LEHMAN BROS TSY         4.000   7/20/2012     EUR     5.25
LEHMAN BROS TSY         9.250   6/20/2012     USD     5.25
LEHMAN BROS TSY         4.300    6/4/2012     USD    16.00
LEHMAN BROS TSY         6.600   5/23/2012     AUD    16.00
LEHMAN BROS TSY         1.000    5/9/2012     EUR     5.25
LEHMAN BROS TSY         6.750    4/5/2012     EUR     5.25
LEHMAN BROS TSY         0.750   3/29/2012     EUR     5.25
LEHMAN BROS TSY         8.000   3/19/2012     USD     5.25
LEHMAN BROS TSY         3.630    3/2/2012     EUR    16.00
LEHMAN BROS TSY         6.600   2/22/2012     EUR    16.00
LEHMAN BROS TSY         1.460   2/19/2012     JPY    16.00
LEHMAN BROS TSY         7.000   2/15/2012     EUR    16.00
LEHMAN BROS TSY         6.000   2/14/2012     EUR    16.00
LEHMAN BROS TSY         1.500    2/8/2012     CHF     5.25
LEHMAN BROS TSY        10.000    1/3/2012     BRL     5.25
LEHMAN BROS TSY         7.750    1/3/2012     AUD    16.00
LEHMAN BROS TSY        11.000  12/19/2011     USD     5.25
LEHMAN BROS TSY         2.500  12/15/2011     GBP    16.00
LEHMAN BROS TSY         5.000   12/6/2011     EUR     5.25
LEHMAN BROS TSY         4.600   11/9/2011     EUR     5.25
LEHMAN BROS TSY         2.500   11/9/2011     CHF     5.25
LEHMAN BROS TSY         3.500  10/31/2011     USD     5.25
LEHMAN BROS TSY         1.500  10/25/2011     EUR     5.25
LEHMAN BROS TSY         3.500  10/24/2011     USD     5.25
LEHMAN BROS TSY         3.860   9/21/2011     SGD    16.00
LEHMAN BROS TSY         7.000   9/20/2011     USD     5.25
LEHMAN BROS TSY         6.000   9/20/2011     EUR     5.25
LEHMAN BROS TSY         6.250    9/5/2011     EUR     5.25
LEHMAN BROS TSY         5.000    9/1/2011     EUR     5.25
LEHMAN BROS TSY         6.650   8/24/2011     AUD    16.00
LEHMAN BROS TSY         3.000   8/13/2011     EUR     5.25
LEHMAN BROS TSY         4.000   7/27/2011     EUR     5.25
LEHMAN BROS TSY         7.625   7/22/2011     HKD    16.00
LEHMAN BROS TSY        12.000    7/4/2011     EUR    16.00
LEHMAN BROS TSY        11.000    7/4/2011     CHF    16.00
LEHMAN BROS TSY        11.000    7/4/2011     USD    16.00
LEHMAN BROS TSY         2.000   6/28/2011     EUR     5.25
LEHMAN BROS TSY         6.000   6/21/2011     EUR     5.25
LEHMAN BROS TSY         2.000   6/21/2011     EUR     5.25
LEHMAN BROS TSY         3.500   6/20/2011     EUR     5.25
LEHMAN BROS TSY         2.400   6/20/2011     JPY     5.25
LEHMAN BROS TSY         4.000    6/5/2011     USD    16.00
LEHMAN BROS TSY         5.000   5/12/2011     CHF     5.25
LEHMAN BROS TSY         6.700   4/21/2011     USD     5.25
LEHMAN BROS TSY         4.000   4/13/2011     CHF     5.25
LEHMAN BROS TSY        15.000   3/30/2011     EUR     5.25
LEHMAN BROS TSY         6.000   3/17/2011     EUR     5.25
LEHMAN BROS TSY         6.000   3/14/2011     EUR     5.25
LEHMAN BROS TSY         4.000   3/10/2011     EUR     5.25
LEHMAN BROS TSY         8.875   1/28/2011     HKD    16.00
LEHMAN BROS TSY         4.000    1/4/2011     USD    16.00
LEHMAN BROS TSY         8.000  12/31/2010     USD    16.00
LEHMAN BROS TSY         4.500  12/30/2010     USD    16.00
LEHMAN BROS TSY         9.300  12/21/2010     EUR    16.00
LEHMAN BROS TSY         9.300  12/21/2010     EUR    16.00
LEHMAN BROS TSY         6.000  12/21/2010     USD    16.00
LEHMAN BROS TSY         8.050  12/20/2010     HKD    16.00
LEHMAN BROS TSY        14.900  11/16/2010     EUR    16.00
LEHMAN BROS TSY         1.280   11/6/2010     JPY    16.00
LEHMAN BROS TSY         7.000  10/22/2010     EUR     5.25
LEHMAN BROS TSY         4.000  10/12/2010     USD    16.00
LEHMAN BROS TSY         1.500  10/12/2010     EUR     5.25
LEHMAN BROS TSY         4.100   8/23/2010     USD    16.00
LEHMAN BROS TSY         4.000   8/11/2010     USD     5.25
LEHMAN BROS TSY        10.500    8/9/2010     EUR    16.00
LEHMAN BROS TSY         6.000   7/28/2010     EUR    16.00
LEHMAN BROS TSY         6.000   7/28/2010     EUR    16.00
LEHMAN BROS TSY         7.000   7/11/2010     EUR     5.25
LEHMAN BROS TSY         5.500   6/22/2010     USD     5.25
LEHMAN BROS TSY         1.600   6/21/2010     JPY     5.25
LEHMAN BROS TSY         7.250   6/20/2010     USD     5.25
LEHMAN BROS TSY         3.100    6/4/2010     USD    16.00
LEHMAN BROS TSY         3.000    6/3/2010     EUR     5.25
LEHMAN BROS TSY         7.500   5/30/2010     AUD    16.00
LEHMAN BROS TSY         4.000   5/30/2010     USD    16.00
LEHMAN BROS TSY         4.000   5/17/2010     USD     5.25
LEHMAN BROS TSY         2.000   5/17/2010     EUR    16.00
LEHMAN BROS TSY         4.250   5/15/2010     EUR     5.25
LEHMAN BROS TSY         7.600    3/4/2010     NZD    16.00
LEHMAN BROS TSY        11.750    3/1/2010     EUR    16.00
LEHMAN BROS TSY         4.000   2/28/2010     EUR    16.00
LEHMAN BROS TSY         1.000   2/26/2010     USD     5.25
LEHMAN BROS TSY         6.450   2/20/2010     AUD    16.00
LEHMAN BROS TSY         4.100   2/19/2010     EUR     5.25
LEHMAN BROS TSY         7.000   2/15/2010     CHF    16.00
LEHMAN BROS TSY         7.500   2/14/2010     AUD    16.00
LEHMAN BROS TSY         1.750    2/7/2010     EUR    16.00
LEHMAN BROS TSY        10.000    1/4/2010     USD     5.25
LEHMAN BROS TSY         8.800  12/27/2009     EUR    16.00
LEHMAN BROS TSY         7.585  11/22/2009     MXN    16.00
LEHMAN BROS TSY         2.000  11/16/2009     EUR     5.25
LEHMAN BROS TSY         2.750  10/28/2009     EUR    16.00
LEHMAN BROS TSY         3.820  10/20/2009     USD    16.00
LEHMAN BROS TSY         3.400   9/21/2009     HKD    16.00
LEHMAN BROS TSY         7.500   9/13/2009     CHF    16.00
LEHMAN BROS TSY        16.800   8/21/2009     USD    16.00
LEHMAN BROS TSY         8.000    8/3/2009     USD    16.00
LEHMAN BROS TSY         4.500    8/2/2009     USD    16.00
LEHMAN BROS TSY         8.500    7/6/2009     CHF    16.00
LEHMAN BROS TSY        11.000   6/29/2009     EUR    16.00
LEHMAN BROS TSY         3.000   6/23/2009     EUR     5.25
LEHMAN BROS TSY        10.000   6/17/2009     USD    16.00
LEHMAN BROS TSY         5.750   6/15/2009     CHF    16.00
LEHMAN BROS TSY         5.500   6/15/2009     CHF    16.00
LEHMAN BROS TSY         9.000   6/13/2009     USD    16.00
LEHMAN BROS TSY         3.700    6/6/2009     EUR     5.25
LEHMAN BROS TSY        15.000    6/4/2009     CHF    16.00
LEHMAN BROS TSY        17.000    6/2/2009     USD    16.00
LEHMAN BROS TSY        13.500    6/2/2009     USD    16.00
LEHMAN BROS TSY        10.000   5/22/2009     USD    16.00
LEHMAN BROS TSY         8.000   5/22/2009     USD    16.00
LEHMAN BROS TSY         8.000   5/22/2009     USD    16.00
LEHMAN BROS TSY         4.100   5/20/2009     USD    16.00
LEHMAN BROS TSY        16.200   5/14/2009     USD    16.00
LEHMAN BROS TSY         2.480   5/12/2009     USD     5.25
LEHMAN BROS TSY         2.250   5/12/2009     USD     5.25
LEHMAN BROS TSY         4.000   4/24/2009     USD    16.00
LEHMAN BROS TSY         3.850   4/24/2009     USD    16.00
LEHMAN BROS TSY         8.000   4/20/2009     EUR     5.25
LEHMAN BROS TSY        16.000   10/8/2008     CHF    16.00
LEHMAN BROS TSY         7.250   10/6/2008     EUR    16.00
LEHMAN BROS TSY        10.000  10/22/2008     USD    16.00
LEHMAN BROS TSY         8.000  10/23/2008     USD    16.00
LEHMAN BROS TSY         5.000  10/24/2008     CHF    16.00
LEHMAN BROS TSY         6.000  10/24/2008     EUR    16.00
LEHMAN BROS TSY         7.500  10/24/2008     USD    16.00
LEHMAN BROS TSY        16.000  10/28/2008     USD    16.00
LEHMAN BROS TSY        13.150  10/30/2008     USD    16.00
LEHMAN BROS TSY        16.000   11/9/2008     USD    16.00
LEHMAN BROS TSY        14.100  11/12/2008     USD    16.00
LEHMAN BROS TSY        10.442  11/22/2008     CHF    16.00
LEHMAN BROS TSY         7.000  11/28/2008     CHF    16.00
LEHMAN BROS TSY        16.000  12/26/2008     USD    16.00
LEHMAN BROS TSY         6.720  12/29/2008     EUR     5.25
LEHMAN BROS TSY        13.432    1/8/2009     ILS    16.00
LEHMAN BROS TSY         7.750   1/30/2009     EUR    16.00
LEHMAN BROS TSY         6.600    2/9/2009     EUR     5.25
LEHMAN BROS TSY         0.500   2/16/2009     EUR    16.00
LEHMAN BROS TSY        10.000   2/16/2009     CHF    16.00
LEHMAN BROS TSY        11.000   2/16/2009     CHF    16.00
LEHMAN BROS TSY        13.000   2/16/2009     CHF    16.00
LEHMAN BROS TSY         5.000   3/13/2009     EUR     5.25
LEHMAN BROS TSY         9.000   3/17/2009     GBP    16.00
LEHMAN BROS TSY         4.050   9/16/2008     EUR     5.25
LEHMAN BROS TSY        23.300   9/16/2008     USD    16.00
LEHMAN BROS TSY         7.375   9/20/2008     EUR    16.00
LEHMAN BROS TSY        18.250   10/2/2008     USD    16.00
LEHMAN BROS TSY        10.000   3/27/2009     USD     5.25
LEHMAN BROS TSY         7.000   4/14/2009     EUR    16.00
LEHMAN BROS TSY         5.103   6/22/2046     EUR    16.00
LEHMAN BROS TSY         4.680  12/12/2045     EUR    16.00
LEHMAN BROS TSY        10.000    8/2/2037     JPY     5.25
LEHMAN BROS TSY         4.820  12/18/2036     EUR    16.00
LEHMAN BROS TSY         4.950  10/25/2036     EUR     5.25
LEHMAN BROS TSY         3.000   9/12/2036     JPY     5.25
LEHMAN BROS TSY         6.000   11/2/2035     EUR     5.25
LEHMAN BROS TSY         7.250   10/5/2035     EUR     5.38
LEHMAN BROS TSY         7.500    8/1/2035     EUR     5.25
LEHMAN BROS TSY         7.000   5/17/2035     EUR     5.38
LEHMAN BROS TSY         8.250   3/16/2035     EUR     5.63
LEHMAN BROS TSY         6.000   2/15/2035     EUR     5.63
LEHMAN BROS TSY         5.000   2/28/2032     EUR     5.25
LEHMAN BROS TSY         3.500  12/20/2027     USD     5.25
LEHMAN BROS TSY         5.120   4/30/2027     EUR    16.00
LEHMAN BROS TSY         6.500   7/24/2026     EUR     5.25
LEHMAN BROS TSY         5.250   5/26/2026     EUR     5.25
LEHMAN BROS TSY         5.000    8/1/2025     EUR     5.25
LEHMAN BROS TSY         5.220    3/1/2024     EUR    16.00
LEHMAN BROS TSY         5.250    4/1/2023     EUR    16.00
LEHMAN BROS TSY         6.000   2/19/2023     USD     5.25
LEHMAN BROS TSY         9.000   5/15/2022     USD     5.25
LEHMAN BROS TSY         5.000    5/2/2022     EUR    16.00
LEHMAN BROS TSY         4.250   3/13/2021     EUR    16.00
LEHMAN BROS TSY         4.150   8/25/2020     EUR    16.00
LEHMAN BROS TSY         0.500    8/1/2020     EUR    16.00
LEHMAN BROS TSY         4.900   7/28/2020     EUR     5.25
LEHMAN BROS TSY         0.500    7/2/2020     EUR    16.00
LEHMAN BROS TSY         0.500    6/2/2020     EUR    16.00
LEHMAN BROS TSY        11.000    5/9/2020     USD     5.25
LEHMAN BROS TSY         6.300  12/21/2018     USD     5.25
LEHMAN BROS TSY         9.750   6/22/2018     USD     5.25
LEHMAN BROS TSY         6.000   5/23/2018     CZK     5.25
LEHMAN BROS TSY         9.500    4/1/2018     USD     5.25
LEHMAN BROS TSY         7.800   3/31/2018     USD     5.25
LEHMAN BROS TSY         8.000   3/21/2018     USD     5.25
LEHMAN BROS TSY         5.200   3/19/2018     EUR    16.00
LEHMAN BROS TSY         2.600   3/19/2018     JPY    16.00
LEHMAN BROS TSY         5.000   2/15/2018     EUR     5.25
LEHMAN BROS TSY         6.000  12/30/2017     EUR     5.25
LEHMAN BROS TSY         4.500  12/20/2017     AUD     5.25
LEHMAN BROS TSY         4.500  12/20/2017     AUD     5.25
LEHMAN BROS TSY         4.500  12/20/2017     AUD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     AUD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     USD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     USD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     USD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     USD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     AUD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     AUD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     AUD     5.25
LEHMAN BROS TSY         0.500  12/20/2017     AUD     5.25
LEHMAN BROS TSY        12.220  11/21/2017     USD     5.25
LEHMAN BROS TSY         4.600  10/11/2017     ILS    16.00
LEHMAN BROS TSY         5.000   8/16/2017     EUR     8.88
LEHMAN BROS TSY         3.000   8/15/2017     EUR     5.25
LEHMAN BROS TSY         3.000    8/8/2017     EUR     5.25
LEHMAN BROS TSY         7.500   6/15/2017     USD     5.25
LEHMAN BROS TSY         7.000    6/6/2017     EUR     5.25
LEHMAN BROS TSY         6.000   5/12/2017     EUR     5.25
LEHMAN BROS TSY         5.100    5/8/2017     HKD    15.00
LEHMAN BROS TSY         7.390    5/4/2017     USD     5.25
LEHMAN BROS TSY         7.500    5/2/2017     EUR     5.25
LEHMAN BROS TSY         4.500    5/2/2017     EUR     5.25
LEHMAN BROS TSY         5.000   4/24/2017     EUR     5.25
LEHMAN BROS TSY         4.690   2/19/2017     EUR    16.00
LEHMAN BROS TSY         4.000   2/16/2017     EUR     5.25
LEHMAN BROS TSY         0.800  12/30/2016     EUR     5.25
LEHMAN BROS TSY         6.000   12/6/2016     USD    16.00
LEHMAN BROS TSY         4.000  11/24/2016     EUR     5.25
LEHMAN BROS TSY         3.350  10/13/2016     EUR     5.25
LEHMAN BROS TSY         4.350    8/8/2016     SGD    16.00
LEHMAN BROS TSY         4.600    7/6/2016     EUR     5.25
LEHMAN BROS TSY         8.500    7/5/2016     EUR     5.25
LEHMAN BROS TSY         4.700   3/23/2016     EUR     5.25
LEHMAN BROS TSY         4.700   3/23/2016     EUR     5.25
LEHMAN BROS TSY         8.000   2/16/2016     EUR     5.25
LEHMAN BROS TSY         8.250    2/3/2016     EUR     5.25
LEHMAN BROS TSY         8.250   12/3/2015     EUR     5.25
LEHMAN BROS TSY         6.500   5/16/2015     EUR     5.25
LEHMAN BROS TSY         7.050    4/8/2015     USD     5.25
LEHMAN BROS TSY         5.400   3/18/2015     USD     5.25
LEHMAN BROS TSY         5.000   3/18/2015     EUR     5.75
LEHMAN BROS TSY         5.550   3/12/2015     EUR    16.00
LEHMAN BROS TSY         4.500    3/7/2015     EUR     5.25
LEHMAN BROS TSY         1.680    3/5/2015     EUR     5.25
LEHMAN BROS TSY         5.400    3/4/2015     USD     5.25
LEHMAN BROS TSY         5.000   2/25/2015     EUR     5.25
LEHMAN BROS TSY         5.000   2/16/2015     EUR     5.25
LEHMAN BROS TSY         3.025   1/31/2015     EUR     5.25
LEHMAN BROS TSY         8.000  10/17/2014     EUR     5.25
LEHMAN BROS TSY         5.000   9/22/2014     EUR     5.25
LEHMAN BROS TSY         4.500   7/24/2014     EUR     5.25
LEHMAN BROS TSY         0.250   7/21/2014     EUR     5.25
LEHMAN BROS TSY         5.250    7/8/2014     EUR    16.00
LEHMAN BROS TSY         4.100   6/10/2014     SGD    16.00
LEHMAN BROS TSY         2.300   4/28/2014     JPY     5.25
LEHMAN BROS TSY         5.300   4/23/2014     EUR     5.25
LEHMAN BROS TSY        10.600   4/22/2014     MXN     5.25
LEHMAN BROS TSY         5.000   2/27/2014     EUR     5.25
LEHMAN BROS TSY         5.375    2/4/2014     USD     5.25
LEHMAN BROS TSY         7.000  11/26/2013     EUR     5.25
LEHMAN BROS TSY         1.950   11/4/2013     EUR    16.00
LEHMAN BROS TSY         4.870   10/8/2013     USD    16.00
LEHMAN BROS TSY         6.000    8/7/2013     EUR     5.25
LEHMAN BROS TSY         4.600    8/1/2013     EUR     5.25
LEHMAN BROS TSY         2.370   7/15/2013     USD     5.25
LEHMAN BROS TSY         2.300   6/27/2013     USD    16.00
LEHMAN BROS TSY         2.300    6/6/2013     USD    16.00
LEHMAN BROS TSY         3.450   5/23/2013     USD     5.25
LEHMAN BROS TSY         6.700   5/21/2013     USD     5.25
LEHMAN BROS TSY         7.150   3/21/2013     USD     5.25
LEHMAN BROS TSY         2.875   3/14/2013     CHF    16.88
LEHMAN BROS TSY         4.500    3/6/2013     CHF     5.25
LEHMAN BROS TSY         7.600   1/31/2013     AUD    16.00
LEHMAN BROS TSY        13.000  12/14/2012     USD     5.25
LEHMAN BROS TSY         3.000   12/3/2012     EUR     5.25
LEHMAN BROS TSY         6.250  11/30/2012     EUR     5.25
LEHMAN BROS TSY         5.500  11/30/2012     CZK     5.25
LEHMAN BROS TSY         5.000  11/22/2012     EUR     5.25
LEHMAN BROS TSY         6.000  10/30/2012     EUR     5.25
LEHMAN BROS TSY         6.000  10/30/2012     USD     5.25
LEHMAN BROS TSY         4.000  10/24/2012     EUR     5.25
LEHMAN BROS TSY         0.250  10/19/2012     CHF     5.25
LEHMAN BROS TSY         2.500   8/23/2012     GBP    16.00
NATL INVESTER BK       25.983    5/7/2029     EUR    25.02
NED WATERSCHAPBK        0.500   3/11/2025     CAD    64.76
NIB CAPITAL BANK        4.510  12/16/2035     EUR    67.84
PORTUGAL TEL FIN        4.500   6/16/2025     EUR    69.28
Q-CELLS INTERNAT        5.750   5/26/2014     EUR    13.33
RABOBANK                0.500  11/26/2021     ZAR    46.07
RABOBANK                0.500  10/27/2016     ZAR    73.86
RBS NV EX-ABN NV        2.910   6/21/2036     JPY    69.87
RBS NV EX-ABN NV        6.500   5/17/2018     AUD    71.34
SNS BANK                6.250  10/26/2020     EUR    73.92
SNS BANK                4.580   3/20/2026     EUR    65.94
SNS BANK                5.215   12/3/2027     EUR    69.06
SRLEV NV                9.000   4/15/2041     EUR    73.21
TJIWI KIMIA FIN        13.250    8/1/2001     USD     0.01

NORWAY
------
KOMMUNALBANKEN          0.500   5/25/2018     ZAR    63.06
KOMMUNALBANKEN          0.500   3/29/2017     BRL    70.10
KOMMUNALBANKEN          0.500   5/10/2017     BRL    69.95
KOMMUNALBANKEN          0.500   3/28/2017     BRL    70.58
KOMMUNALBANKEN          0.500   7/26/2016     BRL    74.26
KOMMUNALBANKEN          0.500   7/28/2016     BRL    73.81
KOMMUNALBANKEN          0.500   7/29/2016     TRY    74.92
KOMMUNALBANKEN          0.500   8/16/2016     BRL    73.53
KOMMUNALBANKEN          0.500    3/7/2017     BRL    70.89
KOMMUNALBANKEN          0.500    3/2/2018     BRL    65.82
NORSKE SKOGIND          6.125  10/15/2015     USD    71.33
NORSKE SKOGIND          7.000   6/26/2017     EUR    61.21
NORSKE SKOGIND          7.125  10/15/2033     USD    52.38
NORSKE SKOGIND          7.125  10/15/2033     USD    52.38
NORSKE SKOGIND          6.125  10/15/2015     USD    71.00
RENEWABLE CORP          6.500    6/4/2014     EUR    60.32
RENEWABLE CORP          9.750    5/3/2018     NOK    70.62

POLAND
------
POLAND GOVT BOND        5.000   4/25/2037     PLN    63.50

PORTUGAL
--------
CAIXA GERAL DEPO        5.380   10/1/2038     EUR    60.26
CAIXA GERAL DEPO        4.250   1/27/2020     EUR    75.94
COMBOIOS DE PORT        4.170  10/16/2019     EUR    50.18
COMBOIOS DE PORT        5.700    2/5/2030     EUR    59.98
METRO DE LISBOA         5.750    2/4/2019     EUR    57.93
METRO DE LISBOA         4.061   12/4/2026     EUR    48.50
METRO DE LISBOA         4.799   12/7/2027     EUR    48.66
METRO DE LISBOA         7.300  12/23/2025     EUR    54.38
MONTEPIO GERAL          4.000    2/8/2015     EUR    74.38
MONTEPIO GERAL          5.000    2/8/2017     EUR    61.63
PARPUBLICA              5.250   9/28/2017     EUR    69.75
PARPUBLICA              4.200  11/16/2026     EUR    50.25
PARPUBLICA              3.567   9/22/2020     EUR    55.54
PORTUGAL (REP)          3.500   3/25/2015     USD    75.22
PORTUGUESE OT'S         4.200  10/15/2016     EUR    68.09
PORTUGUESE OT'S         4.350  10/16/2017     EUR    62.88
PORTUGUESE OT'S         4.450   6/15/2018     EUR    60.40
PORTUGUESE OT'S         4.750   6/14/2019     EUR    59.42
PORTUGUESE OT'S         4.800   6/15/2020     EUR    58.01
PORTUGUESE OT'S         3.850   4/15/2021     EUR    55.95
PORTUGUESE OT'S         4.100   4/15/2037     EUR    46.49
PORTUGUESE OT'S         4.950  10/25/2023     EUR    56.70
PORTUGUESE OT'S         3.350  10/15/2015     EUR    72.46
REFER                   4.000   3/16/2015     EUR    57.02
REFER                   5.875   2/18/2019     EUR    59.53
REFER                   4.047  11/16/2026     EUR    46.99
REFER                   4.250  12/13/2021     EUR    44.99
REFER                   4.675  10/16/2024     EUR    48.14

RUSSIA
------
ARIZK                   3.000  12/20/2030     RUB    44.03
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    31.51
NOK                    12.500   8/26/2014     RUB     5.00
PROMPEREOSNASTKA        1.000  12/17/2012     RUB     0.01
PROTON-FINANCE          9.000   6/12/2012     RUB    65.00
RBC OJSC                3.270   4/19/2018     RUB    45.00
RBC OJSC                7.000   4/23/2015     RUB    70.00
RBC OJSC                7.000   4/23/2015     RUB    71.50
SATURN                  8.000    6/6/2014     RUB     2.00

SPAIN
-----
AYT CEDULAS CAJA        4.750   5/25/2027     EUR    66.02
AYT CEDULAS CAJA        3.750  12/14/2022     EUR    67.67
AYT CEDULAS CAJA        4.250  10/25/2023     EUR    69.70
AYT CEDULAS CAJA        3.750   6/30/2025     EUR    59.36
AYUNTAM DE MADRD        4.350   6/16/2021     EUR    65.91
AYUNTAM DE MADRD        4.550   6/16/2036     EUR    47.78
BANCAJA                 1.500   5/22/2018     EUR    61.36
BANCO BILBAO VIZ        6.025    3/3/2033     EUR    57.64
BANCO BILBAO VIZ        4.500   2/16/2022     EUR    71.59
BANCO BILBAO VIZ        4.375  10/20/2019     EUR    74.07
BANCO CASTILLA          1.500   6/23/2021     EUR    63.95
BANCO POP ESPAN         5.702  12/22/2019     EUR    73.00
BASQUE GOV'T            4.600    1/7/2025     EUR    71.79
BBVA SUB CAP UNI        2.750  10/22/2035     JPY    66.72
BPE FINANCIACION        6.873  10/22/2020     EUR    72.17
CAIXA TERRASSA          1.700   3/12/2022     EUR    65.66
CAIXA TERRASSA          4.700    8/9/2021     EUR    67.19
CAIXABANK               4.000    2/9/2022     EUR    72.35
CAJA MADRID             5.116   7/15/2015     EUR    72.50
CAJA MADRID             4.125   3/24/2036     EUR    68.67
CEDULAS TDA 6 FO        3.875   5/23/2025     EUR    61.85
CEDULAS TDA 6 FO        4.250   4/10/2031     EUR    57.37
CEDULAS TDA A-5         4.250   3/28/2027     EUR    61.79
COMUN AUTO CANAR        3.900  11/30/2035     EUR    46.00
COMUN AUTO CANAR        4.200  10/25/2036     EUR    48.28
COMUN AUTO CANAR        4.450  11/17/2019     EUR    72.24
COMUN AUTO CANAR        5.750  10/15/2029     EUR    69.36
COMUN NAVARRA           4.000  11/23/2021     EUR    73.17
COMUNIDAD ARAGON        4.646   7/11/2036     EUR    55.26
COMUNIDAD ARAGON        4.470   7/12/2021     EUR    72.66
COMUNIDAD ARAGON        4.815  10/10/2022     EUR    71.99
COMUNIDAD BALEAR        3.869  11/23/2020     EUR    65.47
COMUNIDAD BALEAR        4.063  11/23/2035     EUR    43.62
COMUNIDAD BALEAR        4.796    3/4/2020     EUR    73.49
COMUNIDAD MADRID        4.300   9/15/2026     EUR    63.35
DIPUTACION FOR          4.323  12/29/2023     EUR    64.49
GEN DE CATALUNYA        5.950   10/1/2030     EUR    60.18
GEN DE CATALUNYA        2.965    9/8/2039     JPY    43.56
GEN DE CATALUNYA        4.220   4/26/2035     EUR    44.64
GEN DE CATALUNYA        4.690  10/28/2034     EUR    48.85
GEN DE CATALUNYA        6.350  11/30/2041     EUR    61.66
GEN DE CATALUNYA        2.125   10/1/2014     CHF    74.96
GEN DE CATALUNYA        2.315   9/10/2015     CHF    72.42
GEN DE CATALUNYA        2.355  11/10/2015     CHF    71.51
GEN DE CATALUNYA        2.750   3/24/2016     CHF    70.26
GEN DE CATALUNYA        4.801   7/31/2020     EUR    70.49
GEN DE CATALUNYA        4.900   9/15/2021     EUR    68.32
GEN DE CATALUNYA        5.250   10/5/2023     EUR    65.26
GEN DE CATALUNYA        5.900   5/20/2024     EUR    68.77
GEN DE CATALUNYA        5.325   10/5/2028     EUR    57.24
GEN DE CATALUNYA        5.219   9/10/2029     EUR    55.31
GEN DE CATALUNYA        5.400   5/13/2030     EUR    56.32
GEN DE CATALUNYA        5.900   5/28/2030     EUR    60.60
GENERAL VALENCIA        4.000   11/2/2016     EUR    72.50
GENERAL VALENCIA        4.900   3/17/2020     EUR    64.38
GENERAL VALENCIA        5.900  11/30/2032     EUR    50.63
IM CEDULAS 5            3.500   6/15/2020     EUR    74.18
INSTIT CRDT OFCL        3.250   6/28/2024     CHF    67.98
INSTIT CRDT OFCL        2.100   2/23/2021     JPY    70.13
INSTIT CRDT OFCL        2.570  10/22/2021     CHF    67.83
INSTITUT CATALA         4.250   6/15/2024     EUR    59.47
JUNTA ANDALUCIA         3.065   7/29/2039     JPY    46.30
JUNTA ANDALUCIA         4.850   3/17/2020     EUR    72.34
JUNTA ANDALUCIA         3.170   7/29/2039     JPY    47.50
JUNTA ANDALUCIA         3.050  12/10/2020     JPY    73.62
JUNTA ANDALUCIA         5.000   7/13/2022     EUR    68.01
JUNTA ANDALUCIA         5.700   7/20/2028     EUR    64.21
JUNTA ANDALUCIA         4.125   1/20/2020     EUR    70.25
JUNTA ANDALUCIA         5.150   5/24/2034     EUR    55.20
JUNTA ANDALUCIA         6.600  11/29/2030     EUR    68.77
JUNTA ANDALUCIA         4.250  10/31/2036     EUR    44.57
JUNTA CASTILLA          4.650   11/8/2022     EUR    69.58
JUNTA LA MANCHA         3.875   1/31/2036     EUR    40.00
JUNTA LA MANCHA         7.705   2/15/2033     EUR    72.50
JUNTA LA MANCHA         4.625  11/30/2022     EUR    63.25
JUNTA LA MANCHA         4.875   3/18/2020     EUR    72.38
JUNTA LA MANCHA         2.810  10/14/2022     JPY    62.63
JUNTA LA MANCHA         5.950    9/9/2030     EUR    60.19
MAPFRE SA               5.921   7/24/2037     EUR    63.23
SACYR VALLEHERM         6.500    5/1/2016     EUR    59.06
SANTANDER ISSUAN        5.750   1/31/2018     GBP    73.02
SANTANDER ISSUAN        5.435  10/24/2017     EUR    77.00
SANTANDER ISSUAN        4.250   5/30/2018     EUR    72.00
SANTANDER ISSUAN        4.750   5/29/2019     EUR    71.75
SANTANDER ISSUAN        4.500   9/30/2019     EUR    70.01
SPANISH GOV'T           4.200   1/31/2037     EUR    71.48
XUNTA DE GALICIA        5.350  11/22/2028     EUR    62.82
XUNTA DE GALICIA        4.205  11/30/2019     EUR    73.98
XUNTA DE GALICIA        4.025  11/28/2035     EUR    46.61

SWEDEN
------
ASSA ABLOY AB           4.000   2/15/2027     EUR    74.13
SAS AB                  7.500    4/1/2015     SEK    74.48
SWEDISH EXP CRED        7.500   6/12/2012     USD     6.95
SWEDISH EXP CRED        0.500  11/27/2015     TRY    74.50
SWEDISH EXP CRED        0.500   5/27/2016     BRL    74.94
SWEDISH EXP CRED        0.500   6/29/2016     TRY    71.36
SWEDISH EXP CRED        0.500   6/29/2016     BRL    74.40
SWEDISH EXP CRED        0.500   8/25/2016     BRL    73.88
SWEDISH EXP CRED        0.500   9/14/2016     BRL    73.57
SWEDISH EXP CRED        0.500   9/30/2016     ZAR    74.79
SWEDISH EXP CRED        0.500  12/14/2016     BRL    72.09
SWEDISH EXP CRED        0.500  12/21/2016     BRL    71.98
SWEDISH EXP CRED        0.500   1/26/2017     BRL    71.41
SWEDISH EXP CRED        0.500  12/17/2027     USD    61.06
SWEDISH EXP CRED        0.500   3/15/2022     ZAR    42.43
SWEDISH EXP CRED        0.500   2/22/2022     ZAR    42.69
SWEDISH EXP CRED        0.500   7/21/2017     BRL    68.68
SWEDISH EXP CRED        0.500   8/25/2021     ZAR    44.95
SWEDISH EXP CRED        0.500   1/31/2022     ZAR    43.28
SWEDISH EXP CRED        0.500   8/26/2021     AUD    66.13
SWEDISH EXP CRED        0.500  12/22/2016     BRL    71.96
SWEDISH EXP CRED        0.500   3/10/2017     BRL    70.70
SWEDISH EXP CRED        0.500    2/3/2017     BRL    71.33
SWEDISH EXP CRED        0.500   6/30/2017     BRL    68.99
SWEDISH EXP CRED        0.500   6/21/2017     BRL    69.12
SWEDISH EXP CRED        0.500   1/25/2028     USD    60.70

SWITZERLAND
-----------
BANK JULIUS BAER       12.000    7/6/2012     EUR    54.65
BANK JULIUS BAER       11.900    7/6/2012     CHF    60.55
BANK JULIUS BAER       11.300    7/6/2012     CHF    42.45
BANK JULIUS BAER       10.700    7/6/2012     CHF    73.60
BANK JULIUS BAER       10.500    7/6/2012     USD    63.30
BANK JULIUS BAER        9.000   9/17/2012     CHF    42.55
BANK JULIUS BAER       10.500  12/14/2012     USD    69.25
BANK JULIUS BAER       10.000   1/28/2013     CHF    68.05
BANK JULIUS BAER       17.300    2/1/2013     EUR    63.95
BANK JULIUS BAER       12.000    4/9/2013     CHF    48.15
BANK JULIUS BAER        8.700    8/5/2013     CHF    64.37
BANK JULIUS BAER        8.750   6/15/2012     CHF    70.05
BANK JULIUS BAER       10.500    7/6/2012     CHF    69.35
BANK JULIUS BAER       10.100    7/6/2012     CHF    41.85
BANK JULIUS BAER       14.800    7/6/2012     EUR    52.05
BANK JULIUS BAER       14.300   7/13/2012     CHF    47.85
BANK JULIUS BAER       10.500   7/18/2012     CHF    57.20
BANK JULIUS BAER        5.500   7/20/2012     CHF    69.90
BANK JULIUS BAER       11.700   7/20/2012     EUR    71.25
BANK JULIUS BAER        8.750   7/26/2012     EUR    71.40
BANK JULIUS BAER        9.300   7/27/2012     EUR    65.15
BANK JULIUS BAER       11.000   7/27/2012     CHF    71.15
BANK JULIUS BAER       12.000   7/27/2012     EUR    71.30
BANK JULIUS BAER        9.000    7/6/2012     EUR    64.85
BANK JULIUS BAER        8.600    7/6/2012     CHF    69.60
BANK JULIUS BAER       11.900   6/29/2012     EUR    60.45
BANK JULIUS BAER        8.000   6/29/2012     EUR    71.45
BANK JULIUS BAER       14.000   6/28/2012     EUR    58.05
BANK JULIUS BAER        8.600   6/27/2012     CHF    73.20
BANK JULIUS BAER       10.000   6/22/2012     CHF    71.35
BANK JULIUS BAER        7.500   6/15/2012     CHF    74.75
BANK JULIUS BAER        7.000   6/15/2012     CHF    70.70
BANK JULIUS BAER        7.400   6/14/2012     CAD    51.75
BANK JULIUS BAER        8.200    6/8/2012     CHF    67.90
BANK JULIUS BAER       13.000    6/1/2012     USD    51.15
BANK JULIUS BAER       11.200    6/1/2012     CHF    64.80
BANK JULIUS BAER       12.400    7/6/2012     CHF    49.70
BANK JULIUS BAER       10.600    6/1/2012     EUR    73.45
BANK JULIUS BAER       10.300    6/1/2012     EUR    72.95
BANK JULIUS BAER       10.000    6/1/2012     CHF    50.65
BANK JULIUS BAER        9.750    6/1/2012     EUR    72.10
BANK JULIUS BAER        9.000   5/30/2012     CHF    50.45
BANK JULIUS BAER       10.000   5/25/2012     CHF    65.10
BANK JULIUS BAER        9.200   5/25/2012     EUR    48.20
BANK JULIUS BAER        8.600   5/25/2012     EUR    71.75
BANK JULIUS BAER        8.500   5/25/2012     CHF    65.60
BANK JULIUS BAER       14.000   5/24/2012     EUR    70.20
BANK JULIUS BAER        8.200   5/18/2012     EUR    66.95
BANK JULIUS BAER        9.700   5/18/2012     USD    69.70
BANK JULIUS BAER       11.600   5/18/2012     USD    74.85
BANK JULIUS BAER        8.400   5/23/2012     CHF    50.40
BANK JULIUS BAER       10.000   5/23/2012     CHF    66.55
BANK JULIUS BAER       11.300    8/3/2012     CHF    66.92
BANK JULIUS BAER       22.800    8/3/2012     USD    56.11
CLARIDEN LEU NAS        0.000  11/26/2013     CHF    57.66
CLARIDEN LEU NAS        9.500   7/13/2012     EUR    47.81
CLARIDEN LEU NAS       11.750   7/12/2012     USD    59.16
CLARIDEN LEU NAS       10.500   7/12/2012     CHF    57.39
CLARIDEN LEU NAS       12.500   7/11/2012     EUR    62.19
CLARIDEN LEU NAS       11.250    7/6/2012     GBP    71.98
CLARIDEN LEU NAS       10.000    7/6/2012     EUR    67.72
CLARIDEN LEU NAS       10.000    7/6/2012     CHF    70.26
CLARIDEN LEU NAS       11.000    7/5/2012     CHF    59.60
CLARIDEN LEU NAS       10.500    7/4/2012     EUR    63.11
CLARIDEN LEU NAS       10.250    7/4/2012     EUR    53.09
CLARIDEN LEU NAS       10.000    7/4/2012     CHF    59.21
CLARIDEN LEU NAS        9.500    7/4/2012     CHF    66.50
CLARIDEN LEU NAS        9.250    7/4/2012     EUR    72.99
CLARIDEN LEU NAS        8.750    7/4/2012     CHF    61.74
CLARIDEN LEU NAS        8.500    7/4/2012     EUR    68.49
CLARIDEN LEU NAS        8.000    7/4/2012     CHF    74.27
CLARIDEN LEU NAS        6.250    7/4/2012     CHF    74.12
CLARIDEN LEU NAS       15.500   6/29/2012     EUR    40.95
CLARIDEN LEU NAS       14.000   6/29/2012     CHF    73.44
CLARIDEN LEU NAS       10.000   6/27/2012     CHF    71.84
CLARIDEN LEU NAS       12.500   6/22/2012     EUR    72.64
CLARIDEN LEU NAS       11.250   6/22/2012     CHF    47.00
CLARIDEN LEU NAS       10.000   6/22/2012     CHF    55.03
CLARIDEN LEU NAS       10.500   6/21/2012     EUR    53.46
CLARIDEN LEU NAS       10.000   6/21/2012     EUR    57.38
CLARIDEN LEU NAS        9.000   6/21/2012     CHF    54.54
CLARIDEN LEU NAS       12.000   6/20/2012     USD    58.02
CLARIDEN LEU NAS       10.250   6/20/2012     SEK    66.97
CLARIDEN LEU NAS        8.500   6/20/2012     CHF    71.12
CLARIDEN LEU NAS        3.550   6/20/2012     CHF    47.66
CLARIDEN LEU NAS       10.500   6/15/2012     CHF    64.33
CLARIDEN LEU NAS        9.000   6/15/2012     CHF    63.32
CLARIDEN LEU NAS       12.000   6/14/2012     CHF    30.65
CLARIDEN LEU NAS       11.750   6/14/2012     EUR    68.41
CLARIDEN LEU NAS        9.250   6/14/2012     CHF    67.44
CLARIDEN LEU NAS        9.000   6/14/2012     CHF    52.35
CLARIDEN LEU NAS       13.500    6/8/2012     EUR    49.73
CLARIDEN LEU NAS        8.500    6/8/2012     CHF    61.83
CLARIDEN LEU NAS        7.500    6/8/2012     GBP    64.44
CLARIDEN LEU NAS        0.000    6/8/2012     CHF    60.03
CLARIDEN LEU NAS       12.500    6/6/2012     EUR    73.14
CLARIDEN LEU NAS       11.000    6/6/2012     CAD    67.33
CLARIDEN LEU NAS       10.000    6/6/2012     NOK    60.63
CLARIDEN LEU NAS       10.000    6/6/2012     CHF    67.60
CLARIDEN LEU NAS       13.250    6/1/2012     USD    11.51
CLARIDEN LEU NAS       12.500    6/1/2012     CHF    11.54
CLARIDEN LEU NAS       11.500    6/1/2012     EUR    69.03
CLARIDEN LEU NAS        7.500    6/1/2012     EUR    63.06
CLARIDEN LEU NAS       12.250   5/31/2012     EUR    38.33
CLARIDEN LEU NAS       10.750   5/30/2012     CHF    51.74
CLARIDEN LEU NAS       10.500   5/30/2012     EUR    64.95
CLARIDEN LEU NAS       10.500   5/25/2012     CHF    65.67
CLARIDEN LEU NAS       12.750   5/24/2012     EUR    48.52
CLARIDEN LEU NAS       10.500   5/24/2012     EUR    71.20
CLARIDEN LEU NAS       14.000   5/23/2012     EUR    10.69
CLARIDEN LEU NAS       13.000   5/23/2012     CHF    10.66
CLARIDEN LEU NAS       12.750   5/23/2012     EUR    74.96
CLARIDEN LEU NAS       11.500   5/23/2012     USD    59.96
CLARIDEN LEU NAS       10.000   5/23/2012     CHF    69.01
CLARIDEN LEU NAS       10.000   5/23/2012     NOK    58.90
CLARIDEN LEU NAS       12.000   5/18/2012     EUR    51.02
CLARIDEN LEU NAS       10.600   5/18/2012     CHF    51.30
CLARIDEN LEU NAS       10.000   5/18/2012     EUR    64.30
CLARIDEN LEU NAS       21.650  11/25/2014     EUR    73.81
CLARIDEN LEU NAS        0.000  10/15/2014     CHF    56.15
CLARIDEN LEU NAS        0.000   9/10/2014     CHF    51.74
CLARIDEN LEU NAS        0.000   8/27/2014     CHF    52.34
CLARIDEN LEU NAS        4.500   8/13/2014     CHF    43.70
CLARIDEN LEU NAS        5.250    8/6/2014     CHF    46.71
CLARIDEN LEU NAS        4.500    8/6/2014     EUR    71.30
CLARIDEN LEU NAS        0.000   6/10/2014     CHF    58.95
CLARIDEN LEU NAS        0.000   6/10/2014     CHF    56.59
CLARIDEN LEU NAS        0.000    6/3/2014     CHF    68.57
CLARIDEN LEU NAS        0.000   5/26/2014     CHF    58.78
CLARIDEN LEU NAS        0.000   5/13/2014     CHF    58.16
CLARIDEN LEU NAS        0.000   2/24/2014     CHF    49.86
CLARIDEN LEU NAS        0.000   2/11/2014     CHF    49.43
CLARIDEN LEU NAS       18.400  12/20/2013     EUR    68.57
CLARIDEN LEU NAS        0.000   11/4/2013     USD    73.86
CLARIDEN LEU NAS        0.000   11/4/2013     CHF    73.79
CLARIDEN LEU NAS        0.000   9/23/2013     CHF    48.90
CLARIDEN LEU NAS        0.000   9/16/2013     USD    68.27
CLARIDEN LEU NAS        3.250   9/16/2013     CHF    48.10
CLARIDEN LEU NAS        7.000   7/22/2013     CHF    65.75
CLARIDEN LEU NAS       13.000   7/15/2013     CHF    68.62
CLARIDEN LEU NAS       10.000   6/10/2013     CHF    57.26
CLARIDEN LEU NAS        0.000   5/31/2013     CHF    60.44
CLARIDEN LEU NAS        6.500   4/26/2013     CHF    52.92
CLARIDEN LEU NAS        0.000    4/4/2013     CHF    73.29
CLARIDEN LEU NAS       10.750   3/27/2013     USD    74.42
CLARIDEN LEU NAS        0.000   3/25/2013     CHF    53.97
CLARIDEN LEU NAS       12.000    3/8/2013     USD    73.61
CLARIDEN LEU NAS       12.500    3/1/2013     USD    73.69
CLARIDEN LEU NAS       20.000   2/27/2013     USD    69.09
CLARIDEN LEU NAS       11.000   2/21/2013     USD    73.68
CLARIDEN LEU NAS       13.500   2/15/2013     EUR    69.40
CLARIDEN LEU NAS        9.000   2/14/2013     CHF    62.08
CLARIDEN LEU NAS       11.500   2/13/2013     EUR    68.60
CLARIDEN LEU NAS        0.000   1/24/2013     CHF    63.28
CLARIDEN LEU NAS        8.750   1/15/2013     CHF    63.79
CLARIDEN LEU NAS       18.000  12/28/2012     USD    66.49
CLARIDEN LEU NAS        8.250  12/17/2012     CHF    63.50
CLARIDEN LEU NAS        0.000  12/17/2012     EUR    62.98
CLARIDEN LEU NAS        0.000  12/14/2012     CHF    51.45
CLARIDEN LEU NAS       10.500  11/26/2012     EUR    58.87
CLARIDEN LEU NAS        8.000  11/20/2012     CHF    67.48
CLARIDEN LEU NAS        7.125  11/19/2012     CHF    52.85
CLARIDEN LEU NAS        7.250  11/16/2012     CHF    53.41
CLARIDEN LEU NAS        7.500  11/13/2012     CHF    52.92
CLARIDEN LEU NAS        7.250  11/13/2012     CHF    68.73
CLARIDEN LEU NAS       20.750   11/2/2012     GBP    70.61
CLARIDEN LEU NAS       19.000  10/18/2012     USD    74.25
CLARIDEN LEU NAS       10.250  10/18/2012     EUR    72.20
CLARIDEN LEU NAS       10.000  10/15/2012     CHF    49.33
CLARIDEN LEU NAS        9.500  10/15/2012     CHF    49.95
CLARIDEN LEU NAS        8.500  10/15/2012     CHF    48.47
CLARIDEN LEU NAS        8.000  10/15/2012     CHF    61.52
CLARIDEN LEU NAS       10.500   10/8/2012     CHF    71.86
CLARIDEN LEU NAS       10.000   10/8/2012     EUR    52.34
CLARIDEN LEU NAS        9.000   10/8/2012     CHF    71.06
CLARIDEN LEU NAS        7.000   10/4/2012     CHF    49.73
CLARIDEN LEU NAS       10.000   9/25/2012     CHF    74.67
CLARIDEN LEU NAS        9.500   9/24/2012     CHF    62.38
CLARIDEN LEU NAS        9.000   9/24/2012     CHF    62.21
CLARIDEN LEU NAS       10.250   9/17/2012     CHF    49.34
CLARIDEN LEU NAS       10.000   9/11/2012     CHF    48.35
CLARIDEN LEU NAS       11.000   9/10/2012     EUR    64.86
CLARIDEN LEU NAS        7.500   9/10/2012     CHF    59.85
CLARIDEN LEU NAS       12.000    9/4/2012     EUR    38.20
CLARIDEN LEU NAS       10.500    9/4/2012     USD    63.58
CLARIDEN LEU NAS        9.250    9/4/2012     CHF    45.76
CLARIDEN LEU NAS       11.250   8/22/2012     CHF    67.89
CLARIDEN LEU NAS        7.000   8/16/2012     CHF    50.70
CLARIDEN LEU NAS       12.000   8/15/2012     USD    68.09
CLARIDEN LEU NAS       10.000   8/10/2012     EUR    66.66
CLARIDEN LEU NAS       11.750    8/8/2012     EUR    61.69
CLARIDEN LEU NAS       10.750    8/8/2012     EUR    72.19
CLARIDEN LEU NAS       10.000    8/8/2012     USD    62.48
CLARIDEN LEU NAS        9.250    8/8/2012     EUR    72.79
CLARIDEN LEU NAS       10.000    8/3/2012     CHF    71.61
CLARIDEN LEU NAS       13.000    8/2/2012     EUR    70.07
CLARIDEN LEU NAS       11.000    8/2/2012     USD    56.61
CLARIDEN LEU NAS       10.500    8/2/2012     EUR    49.40
CLARIDEN LEU NAS       10.250    8/2/2012     CHF    62.31
CLARIDEN LEU NAS        9.750    8/2/2012     CHF    72.97
CLARIDEN LEU NAS       12.000   7/26/2012     EUR    72.30
CLARIDEN LEU NAS       11.000   7/26/2012     CHF    72.74
CLARIDEN LEU NAS       10.500   7/26/2012     CHF    69.20
CLARIDEN LEU NAS        8.750   7/26/2012     CHF    59.34
CLARIDEN LEU NAS       11.000   7/25/2012     NOK    67.57
CLARIDEN LEU NAS       10.250   7/25/2012     EUR    71.82
CLARIDEN LEU NAS       10.250   7/25/2012     USD    66.48
CLARIDEN LEU NAS        9.250   7/25/2012     CHF    66.42
CLARIDEN LEU NAS       12.250   7/20/2012     USD    59.09
CLARIDEN LEU NAS        9.500   7/20/2012     CHF    61.61
CLARIDEN LEU NAS       10.750   7/19/2012     EUR    65.78
CLARIDEN LEU NAS        9.000   7/19/2012     CHF    58.56
CLARIDEN LEU NAS       11.000   7/18/2012     EUR    67.56
CLARIDEN LEU NAS       10.500   7/18/2012     CHF    60.02
CLARIDEN LEU NAS        7.900   7/18/2012     USD    65.67
CLARIDEN LEU NAS       11.750   7/13/2012     EUR    68.41
CREDIT SUISSE LD        8.900   3/25/2013     EUR    59.06
CREDIT SUISSE LD        4.000  12/10/2012     EUR    41.80
S-AIR GROUP             4.250    2/2/2007     CHF    10.38
S-AIR GROUP             2.125   11/4/2004     CHF    10.38
S-AIR GROUP             0.125    7/7/2005     CHF    10.38
SARASIN CI LTD          8.400   5/30/2012     CHF    65.32
SARASIN CI LTD          7.743    6/8/2012     CHF    66.45
SARASIN CI LTD          5.538   6/18/2012     CHF    50.04
SARASIN CI LTD          9.300   6/20/2012     CHF    70.81
SARASIN CI LTD         12.000   6/27/2012     CHF    45.24
SARASIN CI LTD          8.000   4/27/2015     CHF    63.37
SARASIN CI LTD          4.154   6/11/2012     CHF    66.58
SARASIN CI LTD          8.000    9/3/2012     CHF    57.23
SARASIN/GUERNSEY        7.600   7/13/2012     EUR    63.55
SARASIN/GUERNSEY       10.000   7/20/2012     EUR    70.27
SARASIN/GUERNSEY       12.100   7/12/2012     CHF    56.77
SARASIN/GUERNSEY       15.400   7/12/2012     EUR    66.21
SARASIN/GUERNSEY       10.000   8/10/2012     EUR    51.51
SARASIN/GUERNSEY        7.200   7/16/2012     CHF    56.06
SARASIN/GUERNSEY        7.200   7/19/2012     CHF    70.51
SARASIN/GUERNSEY       17.000  10/12/2012     EUR    73.02
SWISSAIR                6.250   4/12/2005     CHF    10.38
SWISSAIR                5.500   7/23/2003     CHF    10.38
SWISSAIR                6.250  10/27/2002     CHF    10.38
SWISSAIR                2.750   7/30/2004     CHF    10.38
SWISSAIR                2.750   7/30/2004     CHF    10.38
UBS AG                  9.000   5/18/2012     EUR    69.05
UBS AG                 13.300   5/23/2012     USD     3.41
UBS AG                 13.700   5/23/2012     USD    13.94
UBS AG                 14.000   5/23/2012     USD     8.96
UBS AG                 11.740    6/1/2012     EUR    73.44
UBS AG                 13.130    6/1/2012     EUR    71.52
UBS AG                 14.620    6/1/2012     EUR    69.70
UBS AG                  9.820    6/4/2012     EUR    69.08
UBS AG                  9.850    6/4/2012     EUR    69.94
UBS AG                 10.470    6/4/2012     EUR    44.54
UBS AG                 10.740    6/4/2012     EUR    71.88
UBS AG                 12.410    6/4/2012     EUR    72.54
UBS AG                 12.650    6/4/2012     EUR    73.68
UBS AG                 13.680    6/4/2012     EUR    73.50
UBS AG                 15.860    6/4/2012     EUR    62.48
UBS AG                 17.720    6/4/2012     EUR    37.38
UBS AG                  6.700    6/6/2012     CHF    72.20
UBS AG                  8.000    6/6/2012     CHF    64.95
UBS AG                 10.000    6/6/2012     CHF    63.25
UBS AG                 10.600    6/6/2012     CHF    65.10
UBS AG                 15.000    6/6/2012     CHF    59.30
UBS AG                  8.000   6/14/2012     CHF    68.75
UBS AG                  9.000   6/14/2012     EUR    69.00
UBS AG                  8.700   6/22/2012     EUR    74.00
UBS AG                  9.140   6/22/2012     EUR    68.36
UBS AG                  9.930   6/22/2012     EUR    70.80
UBS AG                 10.620   6/22/2012     EUR    74.90
UBS AG                 10.710   6/22/2012     EUR    65.56
UBS AG                 11.230   6/22/2012     EUR    67.88
UBS AG                 11.430   6/22/2012     EUR    73.80
UBS AG                 11.510   6/22/2012     EUR    74.10
UBS AG                 11.540   6/22/2012     EUR    73.40
UBS AG                 11.830   6/22/2012     EUR    74.82
UBS AG                 12.400   6/22/2012     EUR    63.00
UBS AG                 12.500   6/22/2012     EUR    71.98
UBS AG                 12.620   6/22/2012     EUR    65.20
UBS AG                 12.710   6/22/2012     EUR    71.92
UBS AG                 12.910   6/22/2012     EUR    71.60
UBS AG                 13.500   6/22/2012     EUR    70.60
UBS AG                 13.690   6/22/2012     EUR    71.90
UBS AG                 13.940   6/22/2012     EUR    69.86
UBS AG                 14.080   6/22/2012     EUR    62.76
UBS AG                 14.210   6/22/2012     EUR    60.68
UBS AG                 14.470   6/22/2012     EUR    69.54
UBS AG                 14.540   6/22/2012     EUR    69.30
UBS AG                 15.190   6/22/2012     EUR    67.94
UBS AG                 15.610   6/22/2012     EUR    68.06
UBS AG                 15.620   6/22/2012     EUR    60.52
UBS AG                 15.690   6/22/2012     EUR    69.24
UBS AG                 16.100   6/22/2012     EUR    67.62
UBS AG                 16.110   6/22/2012     EUR    58.54
UBS AG                 16.460   6/22/2012     EUR    66.12
UBS AG                 16.710   6/22/2012     EUR    66.88
UBS AG                 17.230   6/22/2012     EUR    58.46
UBS AG                 17.400   6/22/2012     EUR    74.06
UBS AG                 17.730   6/22/2012     EUR    64.42
UBS AG                 17.790   6/22/2012     EUR    65.82
UBS AG                 17.830   6/22/2012     EUR    66.82
UBS AG                 18.080   6/22/2012     EUR    56.60
UBS AG                 18.350   6/22/2012     EUR    72.32
UBS AG                 18.910   6/22/2012     EUR    56.58
UBS AG                 19.000   6/22/2012     EUR    64.64
UBS AG                 19.020   6/22/2012     EUR    62.82
UBS AG                 19.290   6/22/2012     EUR    70.68
UBS AG                 19.440   6/22/2012     EUR    74.74
UBS AG                 19.530   6/22/2012     EUR    64.12
UBS AG                 20.060   6/22/2012     EUR    64.58
UBS AG                 20.120   6/22/2012     EUR    54.80
UBS AG                 20.320   6/22/2012     EUR    61.30
UBS AG                 20.650   6/22/2012     EUR    54.82
UBS AG                 21.180   6/22/2012     EUR    67.60
UBS AG                 21.300   6/22/2012     EUR    62.54
UBS AG                 21.370   6/22/2012     EUR    62.58
UBS AG                 21.590   6/22/2012     EUR    74.80
UBS AG                 21.630   6/22/2012     EUR    59.86
UBS AG                 22.200   6/22/2012     EUR    53.14
UBS AG                 22.360   6/22/2012     EUR    62.54
UBS AG                 22.370   6/22/2012     EUR    74.54
UBS AG                 22.440   6/22/2012     EUR    53.20
UBS AG                 22.490   6/22/2012     EUR    71.82
UBS AG                 22.970   6/22/2012     EUR    58.50
UBS AG                 23.060   6/22/2012     EUR    64.78
UBS AG                 23.100   6/22/2012     EUR    61.06
UBS AG                 23.850   6/22/2012     EUR    72.82
UBS AG                 24.260   6/22/2012     EUR    51.70
UBS AG                 24.310   6/22/2012     EUR    57.22
UBS AG                 24.690   6/22/2012     EUR    60.64
UBS AG                 24.900   6/22/2012     EUR    59.66
UBS AG                 24.950   6/22/2012     EUR    62.22
UBS AG                 26.100   6/22/2012     EUR    50.30
UBS AG                 26.850   6/22/2012     EUR    59.90
UBS AG                 27.030   6/22/2012     EUR    54.86
UBS AG                 28.770   6/22/2012     EUR    57.76
UBS AG                  7.010   6/25/2012     EUR    68.74
UBS AG                  7.070   6/25/2012     EUR    57.30
UBS AG                  7.110   6/25/2012     EUR    27.40
UBS AG                  7.150   6/25/2012     EUR    69.48
UBS AG                  7.350   6/25/2012     EUR    66.94
UBS AG                  7.400   6/25/2012     EUR    57.34
UBS AG                  7.410   6/25/2012     EUR    27.44
UBS AG                  7.420   6/25/2012     EUR    69.50
UBS AG                  7.420   6/25/2012     EUR    59.52
UBS AG                  7.560   6/25/2012     EUR    68.78
UBS AG                  7.670   6/25/2012     EUR    69.52
UBS AG                  7.690   6/25/2012     EUR    27.44
UBS AG                  7.710   6/25/2012     EUR    28.90
UBS AG                  7.720   6/25/2012     EUR    57.36
UBS AG                  7.770   6/25/2012     EUR    51.82
UBS AG                  7.870   6/25/2012     EUR    67.00
UBS AG                  7.870   6/25/2012     EUR    69.54
UBS AG                  7.890   6/25/2012     EUR    59.58
UBS AG                  7.960   6/25/2012     EUR    27.48
UBS AG                  8.000   6/25/2012     EUR    57.38
UBS AG                  8.070   6/25/2012     EUR    68.82
UBS AG                  8.220   6/25/2012     EUR    27.50
UBS AG                  8.270   6/25/2012     EUR    57.40
UBS AG                  8.320   6/25/2012     EUR    59.60
UBS AG                  8.360   6/25/2012     EUR    67.02
UBS AG                  8.490   6/25/2012     EUR    51.88
UBS AG                  8.490   6/25/2012     EUR    28.96
UBS AG                  8.510   6/25/2012     EUR    57.42
UBS AG                  8.540   6/25/2012     EUR    68.86
UBS AG                  8.690   6/25/2012     EUR    27.54
UBS AG                  8.720   6/25/2012     EUR    59.64
UBS AG                  8.720   6/25/2012     EUR    57.44
UBS AG                  8.810   6/25/2012     EUR    67.06
UBS AG                  8.910   6/25/2012     EUR    57.46
UBS AG                  8.950   6/25/2012     EUR    68.90
UBS AG                  9.080   6/25/2012     EUR    59.68
UBS AG                  9.080   6/25/2012     EUR    57.48
UBS AG                  9.090   6/25/2012     EUR    27.56
UBS AG                  9.130   6/25/2012     EUR    51.92
UBS AG                  9.200   6/25/2012     EUR    67.10
UBS AG                  9.220   6/25/2012     EUR    29.02
UBS AG                  9.310   6/25/2012     EUR    68.92
UBS AG                  9.330   6/25/2012     EUR    57.50
UBS AG                  9.390   6/25/2012     EUR    59.70
UBS AG                  9.430   6/25/2012     EUR    27.60
UBS AG                  9.550   6/25/2012     EUR    67.12
UBS AG                  9.610   6/25/2012     EUR    68.96
UBS AG                  9.660   6/25/2012     EUR    59.72
UBS AG                  9.700   6/25/2012     EUR    51.98
UBS AG                  9.710   6/25/2012     EUR    27.62
UBS AG                  9.860   6/25/2012     EUR    67.16
UBS AG                  9.890   6/25/2012     EUR    59.74
UBS AG                  9.900   6/25/2012     EUR    29.08
UBS AG                  9.920   6/25/2012     EUR    27.64
UBS AG                 10.040   6/25/2012     EUR    56.44
UBS AG                 10.120   6/25/2012     EUR    67.18
UBS AG                 10.190   6/25/2012     EUR    52.02
UBS AG                 10.330   6/25/2012     EUR    67.18
UBS AG                 10.420   6/25/2012     EUR    56.46
UBS AG                 10.500   6/25/2012     EUR    29.12
UBS AG                 10.510   6/25/2012     EUR    67.20
UBS AG                 10.590   6/25/2012     EUR    52.06
UBS AG                 10.650   6/25/2012     EUR    67.22
UBS AG                 10.770   6/25/2012     EUR    56.50
UBS AG                 10.920   6/25/2012     EUR    52.08
UBS AG                 11.030   6/25/2012     EUR    29.18
UBS AG                 11.080   6/25/2012     EUR    56.52
UBS AG                 11.180   6/25/2012     EUR    52.10
UBS AG                 11.360   6/25/2012     EUR    56.54
UBS AG                 11.380   6/25/2012     EUR    52.12
UBS AG                 11.480   6/25/2012     EUR    29.20
UBS AG                 11.600   6/25/2012     EUR    56.58
UBS AG                 11.810   6/25/2012     EUR    56.58
UBS AG                 11.860   6/25/2012     EUR    29.24
UBS AG                 11.990   6/25/2012     EUR    56.60
UBS AG                 12.140   6/25/2012     EUR    56.60
UBS AG                 12.170   6/25/2012     EUR    29.26
UBS AG                 12.270   6/25/2012     EUR    56.62
UBS AG                 12.370   6/25/2012     EUR    56.62
UBS AG                 12.410   6/25/2012     EUR    29.28
UBS AG                 12.450   6/25/2012     EUR    56.64
UBS AG                 12.510   6/25/2012     EUR    56.64
UBS AG                 12.610   6/25/2012     EUR    29.30
UBS AG                 12.750   6/25/2012     EUR    29.32
UBS AG                 10.200   6/29/2012     CHF    71.30
UBS AG                 12.000   6/29/2012     EUR    56.70
UBS AG                 12.100   6/29/2012     CHF    66.30
UBS AG                 13.700   6/29/2012     EUR    73.20
UBS AG                 14.400   6/29/2012     CHF    42.45
UBS AG                  8.000   7/18/2012     CHF    71.80
UBS AG                 10.020   7/20/2012     USD    10.92
UBS AG                 10.600   7/20/2012     CHF    60.00
UBS AG                 10.960   7/20/2012     USD    24.73
UBS AG                 12.000   7/25/2012     EUR    58.90
UBS AG                  8.460   7/31/2012     USD    30.68
UBS AG                 12.040   7/31/2012     USD    12.70
UBS AG                 10.000    8/2/2012     CHF    59.60
UBS AG                 10.200    8/2/2012     CHF    71.45
UBS AG                 10.500    8/2/2012     EUR    53.75
UBS AG                 11.000    8/2/2012     EUR    54.30
UBS AG                 11.500    8/2/2012     CHF    63.75
UBS AG                  9.500   8/10/2012     USD    28.61
UBS AG                 13.500   8/15/2012     CHF    74.40
UBS AG                 17.250   8/15/2012     EUR    49.05
UBS AG                 14.000   8/27/2012     CHF    67.65
UBS AG                  9.430   8/31/2012     USD    33.27
UBS AG                 11.460   8/31/2012     EUR    73.62
UBS AG                 12.570   8/31/2012     EUR    72.10
UBS AG                  9.070    9/3/2012     EUR    57.60
UBS AG                 11.600    9/3/2012     EUR    74.74
UBS AG                 13.630    9/3/2012     EUR    71.22
UBS AG                 13.980    9/3/2012     EUR    69.58
UBS AG                 15.150    9/3/2012     EUR    68.86
UBS AG                 16.600    9/3/2012     EUR    71.10
UBS AG                 17.640    9/3/2012     EUR    65.54
UBS AG                 17.730    9/3/2012     EUR    64.20
UBS AG                 18.180    9/3/2012     EUR    73.38
UBS AG                 19.660    9/3/2012     EUR    65.78
UBS AG                 20.830    9/3/2012     EUR    71.04
UBS AG                 13.000   9/21/2012     EUR    61.74
UBS AG                 22.700   9/21/2012     EUR    58.70
UBS AG                  8.530   9/28/2012     EUR    70.18
UBS AG                  8.810   9/28/2012     EUR    72.42
UBS AG                  9.750   9/28/2012     EUR    67.80
UBS AG                  9.830   9/28/2012     EUR    69.96
UBS AG                 10.440   9/28/2012     EUR    74.24
UBS AG                 10.580   9/28/2012     EUR    74.46
UBS AG                 10.900   9/28/2012     EUR    67.70
UBS AG                 11.040   9/28/2012     EUR    65.66
UBS AG                 11.130   9/28/2012     EUR    74.12
UBS AG                 11.320   9/28/2012     EUR    73.32
UBS AG                 11.360   9/28/2012     EUR    72.68
UBS AG                 12.020   9/28/2012     EUR    65.62
UBS AG                 12.030   9/28/2012     EUR    74.76
UBS AG                 12.100   9/28/2012     EUR    72.24
UBS AG                 12.290   9/28/2012     EUR    71.18
UBS AG                 12.300   9/28/2012     EUR    72.42
UBS AG                 12.390   9/28/2012     EUR    63.72
UBS AG                 12.890   9/28/2012     EUR    71.20
UBS AG                 13.180   9/28/2012     EUR    63.72
UBS AG                 13.230   9/28/2012     EUR    69.74
UBS AG                 13.490   9/28/2012     EUR    72.54
UBS AG                 13.500   9/28/2012     EUR    70.84
UBS AG                 13.700   9/28/2012     EUR    70.22
UBS AG                 13.800   9/28/2012     EUR    61.96
UBS AG                 14.180   9/28/2012     EUR    68.38
UBS AG                 14.390   9/28/2012     EUR    62.00
UBS AG                 14.740   9/28/2012     EUR    69.38
UBS AG                 15.020   9/28/2012     EUR    70.52
UBS AG                 15.130   9/28/2012     EUR    67.08
UBS AG                 15.240   9/28/2012     EUR    60.38
UBS AG                 15.370   9/28/2012     EUR    68.40
UBS AG                 15.640   9/28/2012     EUR    60.42
UBS AG                 15.770   9/28/2012     EUR    74.50
UBS AG                 16.000   9/28/2012     EUR    68.02
UBS AG                 16.090   9/28/2012     EUR    65.86
UBS AG                 16.490   9/28/2012     EUR    73.26
UBS AG                 16.620   9/28/2012     EUR    68.70
UBS AG                 16.720   9/28/2012     EUR    58.94
UBS AG                 16.930   9/28/2012     EUR    59.00
UBS AG                 17.050   9/28/2012     EUR    64.72
UBS AG                 17.090   9/28/2012     EUR    66.78
UBS AG                 17.280   9/28/2012     EUR    66.76
UBS AG                 17.920   9/28/2012     EUR    70.92
UBS AG                 18.020   9/28/2012     EUR    63.62
UBS AG                 18.220   9/28/2012     EUR    57.66
UBS AG                 18.240   9/28/2012     EUR    57.70
UBS AG                 18.250   9/28/2012     EUR    67.04
UBS AG                 18.580   9/28/2012     EUR    65.60
UBS AG                 19.000   9/28/2012     EUR    62.60
UBS AG                 19.330   9/28/2012     EUR    68.72
UBS AG                 19.580   9/28/2012     EUR    56.54
UBS AG                 19.880   9/28/2012     EUR    64.52
UBS AG                 19.910   9/28/2012     EUR    65.54
UBS AG                 19.990   9/28/2012     EUR    61.64
UBS AG                 20.740   9/28/2012     EUR    66.72
UBS AG                 20.920   9/28/2012     EUR    55.46
UBS AG                 21.970   9/28/2012     EUR    59.86
UBS AG                 22.150   9/28/2012     EUR    64.88
UBS AG                 23.560   9/28/2012     EUR    63.18
UBS AG                 24.960   9/28/2012     EUR    61.64
UBS AG                  7.030   10/1/2012     EUR    71.22
UBS AG                  7.040   10/1/2012     EUR    70.60
UBS AG                  7.140   10/1/2012     EUR    29.28
UBS AG                  7.190   10/1/2012     EUR    59.14
UBS AG                  7.210   10/1/2012     EUR    71.28
UBS AG                  7.240   10/1/2012     EUR    61.44
UBS AG                  7.380   10/1/2012     EUR    29.36
UBS AG                  7.380   10/1/2012     EUR    71.34
UBS AG                  7.380   10/1/2012     EUR    68.70
UBS AG                  7.450   10/1/2012     EUR    59.24
UBS AG                  7.460   10/1/2012     EUR    53.78
UBS AG                  7.470   10/1/2012     EUR    70.74
UBS AG                  7.610   10/1/2012     EUR    61.58
UBS AG                  7.620   10/1/2012     EUR    29.44
UBS AG                  7.660   10/1/2012     EUR    30.90
UBS AG                  7.680   10/1/2012     EUR    59.32
UBS AG                  7.810   10/1/2012     EUR    68.86
UBS AG                  7.840   10/1/2012     EUR    29.52
UBS AG                  7.850   10/1/2012     EUR    70.88
UBS AG                  7.900   10/1/2012     EUR    59.40
UBS AG                  7.940   10/1/2012     EUR    61.70
UBS AG                  8.050   10/1/2012     EUR    29.60
UBS AG                  8.090   10/1/2012     EUR    59.46
UBS AG                  8.090   10/1/2012     EUR    53.96
UBS AG                  8.200   10/1/2012     EUR    68.98
UBS AG                  8.200   10/1/2012     EUR    71.00
UBS AG                  8.240   10/1/2012     EUR    61.82
UBS AG                  8.260   10/1/2012     EUR    59.52
UBS AG                  8.310   10/1/2012     EUR    31.12
UBS AG                  8.400   10/1/2012     EUR    59.58
UBS AG                  8.420   10/1/2012     EUR    29.72
UBS AG                  8.490   10/1/2012     EUR    71.10
UBS AG                  8.500   10/1/2012     EUR    61.88
UBS AG                  8.530   10/1/2012     EUR    59.62
UBS AG                  8.540   10/1/2012     EUR    69.10
UBS AG                  8.720   10/1/2012     EUR    61.96
UBS AG                  8.720   10/1/2012     EUR    59.68
UBS AG                  8.730   10/1/2012     EUR    29.82
UBS AG                  8.740   10/1/2012     EUR    71.18
UBS AG                  8.850   10/1/2012     EUR    69.22
UBS AG                  8.910   10/1/2012     EUR    31.34
UBS AG                  8.910   10/1/2012     EUR    62.04
UBS AG                  8.950   10/1/2012     EUR    71.30
UBS AG                  9.060   10/1/2012     EUR    62.12
UBS AG                  9.110   10/1/2012     EUR    69.34
UBS AG                  9.160   10/1/2012     EUR    54.34
UBS AG                  9.200   10/1/2012     EUR    30.00
UBS AG                  9.340   10/1/2012     EUR    69.38
UBS AG                  9.360   10/1/2012     EUR    30.04
UBS AG                  9.440   10/1/2012     EUR    31.52
UBS AG                  9.530   10/1/2012     EUR    69.48
UBS AG                  9.540   10/1/2012     EUR    58.68
UBS AG                  9.580   10/1/2012     EUR    54.48
UBS AG                  9.690   10/1/2012     EUR    69.50
UBS AG                  9.820   10/1/2012     EUR    69.58
UBS AG                  9.860   10/1/2012     EUR    58.82
UBS AG                  9.900   10/1/2012     EUR    30.28
UBS AG                  9.910   10/1/2012     EUR    31.68
UBS AG                  9.920   10/1/2012     EUR    69.58
UBS AG                  9.930   10/1/2012     EUR    54.60
UBS AG                 10.150   10/1/2012     EUR    58.88
UBS AG                 10.220   10/1/2012     EUR    54.70
UBS AG                 10.310   10/1/2012     EUR    31.82
UBS AG                 10.410   10/1/2012     EUR    58.98
UBS AG                 10.440   10/1/2012     EUR    54.78
UBS AG                 10.620   10/1/2012     EUR    54.88
UBS AG                 10.640   10/1/2012     EUR    59.06
UBS AG                 10.650   10/1/2012     EUR    31.94
UBS AG                 10.740   10/1/2012     EUR    54.88
UBS AG                 10.840   10/1/2012     EUR    59.12
UBS AG                 10.930   10/1/2012     EUR    32.04
UBS AG                 11.010   10/1/2012     EUR    59.18
UBS AG                 11.150   10/1/2012     EUR    32.12
UBS AG                 11.160   10/1/2012     EUR    59.24
UBS AG                 11.280   10/1/2012     EUR    59.28
UBS AG                 11.330   10/1/2012     EUR    32.18
UBS AG                 11.380   10/1/2012     EUR    59.32
UBS AG                 11.460   10/1/2012     EUR    59.34
UBS AG                 11.460   10/1/2012     EUR    32.22
UBS AG                 11.530   10/1/2012     EUR    59.38
UBS AG                 11.560   10/1/2012     EUR    32.26
UBS AG                 11.580   10/1/2012     EUR    59.38
UBS AG                 13.820   10/3/2012     USD    13.36
UBS AG                  9.180   10/4/2012     CHF    74.15
UBS AG                  9.920   10/4/2012     CHF    62.00
UBS AG                 10.320   10/4/2012     CHF    62.05
UBS AG                 12.850  10/17/2012     USD    12.32
UBS AG                 12.760  10/18/2012     USD    13.46
UBS AG                 12.240  10/26/2012     EUR    71.70
UBS AG                 13.570  10/26/2012     EUR    70.58
UBS AG                 16.390  10/26/2012     EUR    68.60
UBS AG                 12.500   11/1/2012     EUR    70.40
UBS AG                  6.070  11/12/2012     EUR    57.88
UBS AG                  6.700  11/12/2012     EUR    49.08
UBS AG                  7.740  11/12/2012     EUR    73.36
UBS AG                  8.280  11/12/2012     EUR    61.80
UBS AG                  8.280  11/12/2012     EUR    61.80
UBS AG                  8.370  11/12/2012     EUR    53.50
UBS AG                  8.590  11/12/2012     EUR    54.42
UBS AG                  8.740  11/12/2012     EUR    74.90
UBS AG                  8.780  11/12/2012     EUR    72.52
UBS AG                  9.020  11/12/2012     EUR    48.14
UBS AG                  9.470  11/12/2012     EUR    45.18
UBS AG                  9.640  11/12/2012     EUR    73.40
UBS AG                  9.650  11/12/2012     EUR    44.78
UBS AG                  9.840  11/12/2012     EUR    73.06
UBS AG                 10.930  11/12/2012     EUR    45.40
UBS AG                 11.260  11/12/2012     EUR    49.66
UBS AG                 11.660  11/12/2012     EUR    42.18
UBS AG                 12.000  11/12/2012     EUR    67.64
UBS AG                 13.560  11/12/2012     EUR    43.12
UBS AG                 13.600  11/12/2012     EUR    42.08
UBS AG                  8.080  12/21/2012     EUR    71.28
UBS AG                  8.150  12/21/2012     EUR    73.20
UBS AG                  9.000  12/21/2012     EUR    71.08
UBS AG                  9.100  12/21/2012     EUR    69.24
UBS AG                  9.730  12/21/2012     EUR    74.18
UBS AG                  9.890  12/21/2012     EUR    69.10
UBS AG                 10.060  12/21/2012     EUR    74.84
UBS AG                 10.160  12/21/2012     EUR    67.36
UBS AG                 10.490  12/21/2012     EUR    72.92
UBS AG                 10.690  12/21/2012     EUR    73.90
UBS AG                 10.810  12/21/2012     EUR    67.28
UBS AG                 11.000  12/21/2012     EUR    74.06
UBS AG                 11.260  12/21/2012     EUR    71.72
UBS AG                 11.270  12/21/2012     EUR    65.66
UBS AG                 11.330  12/21/2012     EUR    73.00
UBS AG                 11.770  12/21/2012     EUR    65.62
UBS AG                 11.970  12/21/2012     EUR    72.70
UBS AG                 11.980  12/21/2012     EUR    72.16
UBS AG                 12.020  12/21/2012     EUR    70.56
UBS AG                 12.140  12/21/2012     EUR    74.54
UBS AG                 12.200  12/21/2012     EUR    63.58
UBS AG                 12.400  12/21/2012     EUR    64.14
UBS AG                 12.760  12/21/2012     EUR    64.12
UBS AG                 12.800  12/21/2012     EUR    69.48
UBS AG                 12.970  12/21/2012     EUR    71.44
UBS AG                 13.320  12/21/2012     EUR    70.58
UBS AG                 13.360  12/21/2012     EUR    72.76
UBS AG                 13.560  12/21/2012     EUR    62.76
UBS AG                 13.570  12/21/2012     EUR    68.42
UBS AG                 13.770  12/21/2012     EUR    62.74
UBS AG                 13.980  12/21/2012     EUR    70.28
UBS AG                 14.350  12/21/2012     EUR    67.44
UBS AG                 14.610  12/21/2012     EUR    71.16
UBS AG                 14.690  12/21/2012     EUR    69.18
UBS AG                 14.740  12/21/2012     EUR    61.52
UBS AG                 14.810  12/21/2012     EUR    61.50
UBS AG                 15.000  12/21/2012     EUR    69.20
UBS AG                 15.130  12/21/2012     EUR    66.50
UBS AG                 15.860  12/21/2012     EUR    60.38
UBS AG                 15.900  12/21/2012     EUR    69.72
UBS AG                 15.920  12/21/2012     EUR    65.62
UBS AG                 15.930  12/21/2012     EUR    60.42
UBS AG                 16.030  12/21/2012     EUR    68.22
UBS AG                 16.600  12/21/2012     EUR    60.18
UBS AG                 16.710  12/21/2012     EUR    64.80
UBS AG                 16.930  12/21/2012     EUR    59.38
UBS AG                 17.070  12/21/2012     EUR    67.30
UBS AG                 17.200  12/21/2012     EUR    68.42
UBS AG                 17.500  12/21/2012     EUR    64.02
UBS AG                 18.000  12/21/2012     EUR    58.48
UBS AG                 19.090  12/21/2012     EUR    62.60
UBS AG                 15.990    1/4/2013     EUR    73.28
UBS AG                 17.150    1/4/2013     EUR    71.52
UBS AG                 18.300    1/4/2013     EUR    69.90
UBS AG                 19.440    1/4/2013     EUR    68.40
UBS AG                 20.570    1/4/2013     EUR    67.04
UBS AG                 21.700    1/4/2013     EUR    65.78
UBS AG                 10.390   1/18/2013     USD    36.86
UBS AG                 11.020   1/25/2013     EUR    72.30
UBS AG                 12.010   1/25/2013     EUR    71.42
UBS AG                 14.070   1/25/2013     EUR    69.88
UBS AG                 10.590   2/22/2013     EUR    72.38
UBS AG                 10.960   2/22/2013     EUR    72.44
UBS AG                 12.680   2/22/2013     EUR    71.70
UBS AG                 12.690   2/22/2013     EUR    73.06
UBS AG                 13.070   2/22/2013     EUR    68.40
UBS AG                 13.660   2/22/2013     EUR    68.70
UBS AG                 14.850   2/22/2013     EUR    69.72
UBS AG                 15.800   2/22/2013     EUR    74.76
UBS AG                 13.760    3/6/2013     USD     6.38
UBS AG                 10.000    3/7/2013     USD    67.25
UBS AG                  9.850   3/22/2013     USD    20.47
UBS AG                  9.650   4/11/2013     USD    34.27
UBS AG                 11.250   4/11/2013     USD    26.20
UBS AG                 10.170   4/26/2013     EUR    72.72
UBS AG                 10.970   4/26/2013     EUR    72.04
UBS AG                 12.610   4/26/2013     EUR    70.82
UBS AG                  9.650   8/23/2013     USD    32.42
UBS AG                 10.200   9/20/2013     EUR    66.30
UBS AG                 12.900   9/20/2013     EUR    64.76
UBS AG                 15.900   9/20/2013     EUR    64.42
UBS AG                 11.020  10/21/2013     USD    58.10
UBS AG                  0.500   4/27/2015     CHF    48.70
UBS AG                  8.660   10/1/2012     EUR    54.16
UBS AG JERSEY           3.220   7/31/2012     EUR    30.64

UNITED KINGDOM
--------------
ALLIANC&LEIC BLD        5.875   8/14/2031     GBP    72.75
ALPHA CREDIT GRP        5.500   6/20/2013     EUR    69.13
ALPHA CREDIT GRP        3.250   2/25/2013     EUR    72.63
ALPHA CREDIT GRP        6.000   6/20/2014     EUR    52.63
ALPHA CREDIT GRP        4.500   6/21/2013     EUR    64.50
BAKKAVOR FIN 2          8.250   2/15/2018     GBP    79.40
BANK NADRA              8.000   6/22/2017     USD    51.00
BARCLAYS BK PLC        11.070   8/31/2012     USD    31.84
BARCLAYS BK PLC         9.000   8/28/2012     USD     8.95
BARCLAYS BK PLC        10.800   7/31/2012     USD    26.51
BARCLAYS BK PLC        11.500   7/27/2012     USD     7.71
BARCLAYS BK PLC         7.000   7/27/2012     USD     9.69
BARCLAYS BK PLC        10.000   7/20/2012     USD     6.42
BARCLAYS BK PLC         8.000   6/29/2012     USD     9.36
BARCLAYS BK PLC        16.750   6/22/2012     EUR    53.76
BARCLAYS BK PLC        15.000   6/22/2012     EUR    47.19
BARCLAYS BK PLC        14.500   6/22/2012     EUR    49.93
BARCLAYS BK PLC        14.500   6/22/2012     EUR    37.79
BARCLAYS BK PLC        14.000   6/22/2012     EUR    73.51
BARCLAYS BK PLC        13.750   6/22/2012     EUR    50.38
BARCLAYS BK PLC        13.750   6/22/2012     EUR    45.63
BARCLAYS BK PLC        13.500   6/22/2012     EUR    65.83
BARCLAYS BK PLC        13.500   6/22/2012     EUR    71.62
BARCLAYS BK PLC        13.500   6/22/2012     EUR    62.43
BARCLAYS BK PLC        13.000   6/22/2012     EUR    55.77
BARCLAYS BK PLC        12.750   6/22/2012     EUR    41.05
BARCLAYS BK PLC        12.000   6/22/2012     EUR    74.07
BARCLAYS BK PLC        12.000   6/22/2012     EUR    45.95
BARCLAYS BK PLC        12.000   6/22/2012     EUR    69.83
BARCLAYS BK PLC        12.000   6/22/2012     EUR    70.89
BARCLAYS BK PLC        12.000   6/22/2012     EUR    58.21
BARCLAYS BK PLC        11.750   6/22/2012     EUR    51.13
BARCLAYS BK PLC        11.500   6/22/2012     EUR    42.59
BARCLAYS BK PLC        11.500   6/22/2012     EUR    52.21
BARCLAYS BK PLC        11.000   6/22/2012     EUR    47.55
BARCLAYS BK PLC        15.000   6/22/2012     EUR    73.31
BARCLAYS BK PLC        10.750   6/22/2012     EUR    59.35
BARCLAYS BK PLC        10.750   6/22/2012     EUR    74.78
BARCLAYS BK PLC        10.500   6/22/2012     EUR    48.24
BARCLAYS BK PLC        10.500   6/22/2012     EUR    73.79
BARCLAYS BK PLC        10.500   6/22/2012     EUR    50.67
BARCLAYS BK PLC        10.500   6/22/2012     EUR    49.20
BARCLAYS BK PLC        10.000   6/22/2012     EUR    72.52
BARCLAYS BK PLC        10.000   6/22/2012     EUR    72.48
BARCLAYS BK PLC        10.000   6/22/2012     EUR    53.64
BARCLAYS BK PLC        10.000   6/22/2012     EUR    73.11
BARCLAYS BK PLC        10.000   6/22/2012     EUR    74.95
BARCLAYS BK PLC         9.750   6/22/2012     EUR    51.31
BARCLAYS BK PLC         9.500   6/22/2012     EUR    62.36
BARCLAYS BK PLC         9.000   6/22/2012     EUR    74.92
BARCLAYS BK PLC         8.750   6/22/2012     EUR    63.47
BARCLAYS BK PLC         8.500   6/22/2012     EUR    52.11
BARCLAYS BK PLC         8.250   6/22/2012     EUR    52.77
BARCLAYS BK PLC         8.000   6/22/2012     EUR    62.16
BARCLAYS BK PLC         8.000   6/22/2012     EUR    59.27
BARCLAYS BK PLC         8.000   6/22/2012     EUR    71.41
BARCLAYS BK PLC        10.750   6/22/2012     EUR    43.97
BARCLAYS BK PLC         8.000   6/22/2012     EUR    56.59
BARCLAYS BK PLC         8.000   6/22/2012     EUR    73.26
BARCLAYS BK PLC         8.000   6/22/2012     EUR    71.65
BARCLAYS BK PLC         8.000   6/22/2012     EUR    50.23
BARCLAYS BK PLC         7.250   6/22/2012     EUR    54.08
BARCLAYS BK PLC         7.000   6/22/2012     EUR    55.36
BARCLAYS BK PLC         7.000   6/22/2012     EUR    60.62
BARCLAYS BK PLC         7.000   6/22/2012     EUR    50.38
BARCLAYS BK PLC         7.000   6/22/2012     EUR    67.87
BARCLAYS BK PLC         6.000   6/22/2012     EUR    57.49
BARCLAYS BK PLC         6.000   6/22/2012     EUR    52.85
BARCLAYS BK PLC         6.000   6/22/2012     EUR    54.58
BARCLAYS BK PLC         6.000   6/22/2012     EUR    69.70
BARCLAYS BK PLC         6.000   6/22/2012     EUR    60.96
BARCLAYS BK PLC         6.000   6/22/2012     EUR    64.26
BARCLAYS BK PLC         6.000   6/22/2012     EUR    70.83
BARCLAYS BK PLC        26.000    6/8/2012     EUR    71.68
BARCLAYS BK PLC        16.080    6/8/2012     EUR    58.75
BARCLAYS BK PLC        15.750    6/8/2012     EUR    53.02
BARCLAYS BK PLC        14.220    6/8/2012     EUR    56.67
BARCLAYS BK PLC         8.000   6/22/2012     EUR    46.11
BARCLAYS BK PLC        12.500    6/8/2012     EUR    47.64
BARCLAYS BK PLC        12.000    6/8/2012     EUR    74.82
BARCLAYS BK PLC        12.000    6/8/2012     EUR    53.02
BARCLAYS BK PLC        11.750    6/8/2012     EUR    41.29
BARCLAYS BK PLC        11.250    6/8/2012     EUR    68.39
BARCLAYS BK PLC        11.090    6/8/2012     EUR    50.14
BARCLAYS BK PLC        11.000    6/8/2012     EUR    53.27
BARCLAYS BK PLC        11.000    6/8/2012     EUR    70.53
BARCLAYS BK PLC        11.000    6/8/2012     EUR    66.95
BARCLAYS BK PLC        11.000    6/8/2012     EUR    59.01
BARCLAYS BK PLC        11.000    6/8/2012     EUR    52.17
BARCLAYS BK PLC        10.780    6/8/2012     EUR    61.98
BARCLAYS BK PLC        10.520    6/8/2012     EUR    59.12
BARCLAYS BK PLC        10.500    6/8/2012     EUR    70.65
BARCLAYS BK PLC        10.500    6/8/2012     EUR    45.13
BARCLAYS BK PLC        10.250    6/8/2012     EUR    72.69
BARCLAYS BK PLC        10.250    6/8/2012     EUR    50.74
BARCLAYS BK PLC         9.850    6/8/2012     EUR    74.42
BARCLAYS BK PLC         9.750    6/8/2012     EUR    65.20
BARCLAYS BK PLC         9.750    6/8/2012     EUR    45.36
BARCLAYS BK PLC        13.000    6/8/2012     EUR    40.74
BARCLAYS BK PLC         9.250    6/8/2012     EUR    61.87
BARCLAYS BK PLC         9.000    6/8/2012     EUR    74.82
BARCLAYS BK PLC         9.000    6/8/2012     EUR    74.46
BARCLAYS BK PLC         9.000    6/8/2012     EUR    74.13
BARCLAYS BK PLC         9.000    6/8/2012     EUR    68.03
BARCLAYS BK PLC         9.000    6/8/2012     EUR    71.06
BARCLAYS BK PLC         8.500    6/8/2012     EUR    44.84
BARCLAYS BK PLC         8.250    6/8/2012     EUR    50.64
BARCLAYS BK PLC         8.250    6/8/2012     EUR    58.25
BARCLAYS BK PLC         8.000    6/8/2012     EUR    48.50
BARCLAYS BK PLC         8.000    6/8/2012     EUR    58.85
BARCLAYS BK PLC         8.000    6/8/2012     EUR    67.43
BARCLAYS BK PLC         8.000    6/8/2012     EUR    54.93
BARCLAYS BK PLC         8.000    6/8/2012     EUR    63.96
BARCLAYS BK PLC         7.000    6/8/2012     EUR    56.21
BARCLAYS BK PLC         7.000    6/8/2012     EUR    64.99
BARCLAYS BK PLC         7.000    6/8/2012     EUR    68.69
BARCLAYS BK PLC         6.000    6/8/2012     EUR    63.16
BARCLAYS BK PLC         5.000    6/8/2012     EUR    70.32
BARCLAYS BK PLC         5.000    6/8/2012     EUR    61.16
BARCLAYS BK PLC         9.500    6/8/2012     EUR    59.58
BARCLAYS BK PLC         0.500   9/24/2019     AUD    65.01
BARCLAYS BK PLC         0.500   12/3/2017     AUD    73.37
BARCLAYS BK PLC        11.500   6/28/2013     EUR    48.13
BARCLAYS BK PLC        11.000   6/28/2013     EUR    49.74
BARCLAYS BK PLC        10.500   6/28/2013     EUR    73.76
BARCLAYS BK PLC        10.000   6/28/2013     EUR    51.14
BARCLAYS BK PLC         8.000   6/28/2013     EUR    52.61
BARCLAYS BK PLC         7.000   4/25/2013     EUR    71.33
BARCLAYS BK PLC        11.500   3/22/2013     EUR    46.12
BARCLAYS BK PLC        11.000   3/22/2013     EUR    73.21
BARCLAYS BK PLC        10.750   3/22/2013     EUR    48.35
BARCLAYS BK PLC        10.500   3/22/2013     EUR    73.38
BARCLAYS BK PLC        10.000   3/22/2013     EUR    49.31
BARCLAYS BK PLC         8.000   3/22/2013     EUR    50.88
BARCLAYS BK PLC        12.500    1/2/2013     EUR    53.48
BARCLAYS BK PLC        12.000    1/2/2013     EUR    44.11
BARCLAYS BK PLC        11.500    1/2/2013     EUR    56.75
BARCLAYS BK PLC        11.000    1/2/2013     EUR    72.03
BARCLAYS BK PLC        11.000    1/2/2013     EUR    73.17
BARCLAYS BK PLC        11.000    1/2/2013     EUR    46.65
BARCLAYS BK PLC        10.000    1/2/2013     EUR    47.93
BARCLAYS BK PLC        10.000    1/2/2013     EUR    57.57
BARCLAYS BK PLC         9.500    1/2/2013     EUR    48.40
BARCLAYS BK PLC         8.750    1/2/2013     EUR    58.45
BARCLAYS BK PLC         8.500    1/2/2013     EUR    62.03
BARCLAYS BK PLC         8.000    1/2/2013     EUR    49.51
BARCLAYS BK PLC         7.000    1/2/2013     EUR    52.85
BARCLAYS BK PLC         7.000    1/2/2013     EUR    63.14
BARCLAYS BK PLC         6.000    1/2/2013     EUR    66.75
BARCLAYS BK PLC         6.000    1/2/2013     EUR    55.41
BARCLAYS BK PLC        12.730  12/14/2012     EUR    63.31
BARCLAYS BK PLC        12.500  12/14/2012     EUR    58.83
BARCLAYS BK PLC        11.000  12/14/2012     EUR    46.73
BARCLAYS BK PLC        10.930  12/14/2012     EUR    62.00
BARCLAYS BK PLC        10.500  12/14/2012     EUR    53.26
BARCLAYS BK PLC         9.500  12/14/2012     EUR    58.48
BARCLAYS BK PLC         8.750  12/14/2012     EUR    50.32
BARCLAYS BK PLC         8.000  12/14/2012     EUR    67.73
BARCLAYS BK PLC         8.000  12/14/2012     EUR    58.13
BARCLAYS BK PLC         7.000  12/14/2012     EUR    72.02
BARCLAYS BK PLC         9.000  10/16/2012     USD    11.08
BARCLAYS BK PLC         8.500  10/16/2012     USD    10.73
BARCLAYS BK PLC        14.000   10/1/2012     USD    10.32
BARCLAYS BK PLC         9.000   10/1/2012     USD     9.96
BARCLAYS BK PLC        13.500   9/28/2012     EUR    50.76
BARCLAYS BK PLC        13.000   9/28/2012     EUR    41.18
BARCLAYS BK PLC        12.500   9/28/2012     EUR    53.73
BARCLAYS BK PLC        12.000   9/28/2012     EUR    69.36
BARCLAYS BK PLC        11.750   9/28/2012     EUR    44.18
BARCLAYS BK PLC        11.000   9/28/2012     EUR    73.53
BARCLAYS BK PLC        10.500   9/28/2012     EUR    72.10
BARCLAYS BK PLC        10.500   9/28/2012     EUR    55.35
BARCLAYS BK PLC        10.500   9/28/2012     EUR    45.75
BARCLAYS BK PLC        10.000   9/28/2012     EUR    46.62
BARCLAYS BK PLC         9.500   9/28/2012     EUR    55.89
BARCLAYS BK PLC         8.500   9/28/2012     EUR    60.84
BARCLAYS BK PLC         8.000   9/28/2012     USD    10.44
BARCLAYS BK PLC         8.000   9/28/2012     EUR    48.07
BARCLAYS BK PLC         7.000   9/28/2012     EUR    62.34
BARCLAYS BK PLC         7.000   9/28/2012     EUR    52.03
BARCLAYS BK PLC         6.000   9/28/2012     EUR    66.06
BARCLAYS BK PLC         6.000   9/28/2012     EUR    54.61
BARCLAYS BK PLC        11.000   9/19/2012     EUR    72.21
BARCLAYS BK PLC        14.070   9/14/2012     EUR    61.60
BARCLAYS BK PLC        13.750   9/14/2012     EUR    56.37
BARCLAYS BK PLC        12.200   9/14/2012     EUR    59.78
BARCLAYS BK PLC        12.000   9/14/2012     EUR    43.85
BARCLAYS BK PLC        11.000   9/14/2012     EUR    50.92
BARCLAYS BK PLC        10.250   9/14/2012     EUR    70.77
BARCLAYS BK PLC        10.250   9/14/2012     EUR    55.96
BARCLAYS BK PLC         9.250   9/14/2012     EUR    48.04
BARCLAYS BK PLC         8.000   9/14/2012     EUR    67.42
BARCLAYS BK PLC         8.000   9/14/2012     EUR    56.35
BARCLAYS BK PLC         7.000   9/14/2012     EUR    73.46
BARCLAYS BK PLC         8.000   9/11/2012     USD    10.85
BARCLAYS BK PLC         8.000   9/11/2012     USD    10.63
BARCLAYS BK PLC         5.000    6/8/2012     EUR    74.61
CO-OPERATIVE BNK        5.750   12/2/2024     GBP    73.96
CO-OPERATIVE BNK        5.875   3/28/2033     GBP    72.36
CO-OPERATIVE BNK        5.625  11/16/2021     GBP    75.90
DUNFERMLINE BS          6.000   3/31/2015     GBP     0.75
EFG HELLAS PLC          5.400   11/2/2047     EUR    13.63
EFG HELLAS PLC          4.375   2/11/2013     EUR    75.00
EMPORIKI GRP FIN        5.000   12/2/2021     EUR    31.63
EMPORIKI GRP FIN        4.350   7/22/2014     EUR    52.38
EMPORIKI GRP FIN        5.100   12/9/2021     EUR    32.00
EMPORIKI GRP FIN        5.000   2/24/2022     EUR    31.13
EMPORIKI GRP FIN        6.000   5/18/2022     EUR    34.50
ENTERPRISE INNS         6.875    5/9/2025     GBP    67.27
ENTERPRISE INNS         6.375   9/26/2031     GBP    65.67
ENTERPRISE INNS         6.875   2/15/2021     GBP    72.43
ESSAR ENERGY            4.250    2/1/2016     USD    61.69
F&C ASSET MNGMT         6.750  12/20/2026     GBP    65.50
GALA ELECTRIC CA       11.500    6/1/2019     GBP    69.38
GALA ELECTRIC CA       11.500    6/1/2019     GBP    69.70
GREENE KING FIN         5.702  12/15/2034     GBP   105.34
GS INTERNATIONAL        8.250  12/17/2012     EUR    66.25
GS INTERNATIONAL       13.000   6/28/2012     CHF    54.20
GS INTERNATIONAL        8.120    6/8/2012     CHF    73.00
GS INTERNATIONAL        5.150   5/31/2012     EUR    68.50
GS INTERNATIONAL        5.000   5/31/2012     USD    69.30
GS INTERNATIONAL        9.750   5/22/2012     CHF    48.40
HBOS PLC                4.500   3/18/2030     EUR    61.40
HBOS PLC                5.374   6/30/2021     EUR    67.13
HBOS PLC                4.375  10/30/2019     EUR    73.68
HBOS PLC                6.305  10/18/2017     GBP    74.45
HSBC BANK PLC           0.500  12/29/2022     AUD    56.47
HSBC BANK PLC           0.500   2/24/2023     AUD    57.19
HSBC BANK PLC           0.500  11/22/2021     AUD    63.71
HSBC BANK PLC           0.500   12/8/2026     AUD    48.50
HSBC BANK PLC           0.500  12/29/2026     AUD    48.35
HSBC BANK PLC           4.750   3/24/2046     GBP    72.82
HSBC BANK PLC           0.500    2/2/2023     AUD    53.62
HSBC BANK PLC           0.500    4/3/2023     AUD    59.26
HSBC BANK PLC           0.500   12/2/2022     AUD    60.30
HSBC BANK PLC           0.500  11/16/2018     AUD    71.90
LBG CAPITAL NO.1        6.439   5/23/2020     EUR    73.05
LBG CAPITAL NO.1        7.869   8/25/2020     GBP    79.97
LBG CAPITAL NO.2        6.385   5/12/2020     EUR    73.43
MATALAN                 9.625   3/31/2017     GBP    65.83
MATALAN                 9.625   3/31/2017     GBP    67.36
MAX PETROLEUM           6.750    9/8/2013     USD    46.76
NOMURA BANK INTL        0.800  12/21/2020     EUR    67.75
OTE PLC                 4.625   5/20/2016     EUR    54.00
OTE PLC                 5.000    8/5/2013     EUR    63.65
OTE PLC                 7.250    4/8/2014     EUR    58.53
PIRAEUS GRP FIN         4.000   9/17/2012     EUR    75.57
PRIVATBANK              5.799    2/9/2016     USD    70.01
PUNCH TAVERNS           5.883  10/15/2026     GBP    62.72
ROYAL BK SCOTLND        4.625   9/22/2021     EUR    69.92
ROYAL BK SCOTLND        6.250  12/20/2012     EUR    52.55
SPIRIT ISSUER           5.472  12/28/2028     GBP    71.84
THOMAS COOK GR          7.750   6/22/2017     GBP    48.75
THOMAS COOK GR          6.750   6/22/2015     EUR    58.59
UNIQUE PUB FIN          7.395   3/28/2024     GBP    61.80
UNIQUE PUB FIN          5.659   6/30/2027     GBP    72.77
UNIQUE PUB FIN          6.464   3/30/2032     GBP    43.11


                            *********

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 * * *