TCREUR_Public/120611.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, June 11, 2012, Vol. 13, No. 115

                            Headlines



B U L G A R I A

MUNICIPAL BANK AD: S&P Affirms 'B+/B' Counterparty Credit Ratings


F R A N C E

MARITHE + FRANCOIS: Files for Bankruptcy Protection


G E R M A N Y

THYSSENKRUPP AG: S&P Cuts Long-Term Corp. Credit Rating to 'BB'


G R E E C E

HELLENIC TELECOMMUNICATIONS: S&P Cuts Corp. Credit Rating to 'B-'
PUBLIC POWER: S&P Cuts Corp. Credit Rating to 'CC'; Outlook Neg.
* GREECE: Moody's Cuts Ratings on Asset-Backed Covered Bonds


I T A L Y

AEROPORTI DI ROMA: S&P Lifts Corp. Rating to 'BB+' on Refinancing


R U S S I A

BARS BANK: Fitch Cuts Long-Term IDR to 'BB-'; Outlook Negative
CAT OIL: S&P Affirms 'BB-/B' Corp. Credit Ratings; Outlook Pos.
FAR EASTERN: Moody's Withdraws 'B3' Corp. Family Rating
OIL INSURANCE: S&P Withdraws 'B+' FC Counterparty Credit Rating
SEVERSTAL OAO: Moody's Upgrades CFR/PDR to 'Ba1'; Outlook Stable

* KRASNODAR: Fitch Raises Long-Term Currency Ratings to 'BB+'


S P A I N

AYT COLATERALES: Fitch Upgrades Rating on Class D Notes to 'BBsf'
BANCO FINANCIERO: S&P Lowers Rating on Preferred Shares to 'CC'
* SPAIN: Banks Need Urgent Recapitalization, Finance Leaders Say


S W E D E N

DOMETIC GROUP: Moody's Downgrades Rating on PIK Notes to 'Caa2'


U N I T E D   K I N G D O M

BATTERSEA POWER: Malaysian Consortium Named Preferred Bidder
BLUESTONE SECURITIES: S&P Affirms 'B-' Ratings on 4 Note Classes
CLINTON CARDS: Lakeshore Buys 400 Stores; 4,500 Jobs Saved
EDWARDS HOLDCO: S&P Affirms 'B+' Corporate Credit Rating
EUROMASTR 2007-IV: S&P Affirms 'B-' Rating on Class E Notes

EUROMAX III: S&P Lowers Rating on Class B Notes to 'CCC-'
FIRST FLEXIBLE: S&P Lowers Rating on 2 Note Classes to 'BB-'
FIRST FLEXIBLE: S&P Lowers Ratings on Two Note Classes to 'B-'
FITT SIGNS: Bought Out Administration in "Pre-Pack" Deal
FORTELUS: Opts to Liquidate Part of Flagship Fund

PARAGON SECURED: S&P Downgrades Rating on Class C Notes to 'B'
RANGERS FOOTBALL: Charles Green Won't Sell Ibrox & Murray Park
RANGERS FOOTBALL: HMRC Lines Up Liquidators if CVA Fails
RESIDENTIAL MORTGAGE: S&P Cuts Rating on Class B2 Notes to 'B-'
RESIDENTIAL MORTGAGE 25: S&P Cuts Rating on Class B3-Dfrd to 'B-'

RMAC 2005-NSP2: S&P Cuts Ratings on Two Note Classes to 'B-'
SOUTHERN PACIFIC: S&P Cuts Rating on Two Note Classes to 'B-'
UROPA SECURITIES: S&P Affirms 'BB-' Rating on Class C Notes
WEST BROMWICH: Moody's Issues Summary Credit Opinion


X X X X X X X X

* BOND PRICING: For the Week June 4 to June 8, 2012


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B U L G A R I A
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MUNICIPAL BANK AD: S&P Affirms 'B+/B' Counterparty Credit Ratings
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
Bulgaria-based Municipal Bank A.D. to negative from stable. "At
the same time, we affirmed the 'B+/B' long- and short-term
counterparty credit ratings and then withdrew them at the
issuer's request," S&P said.

"Prior to the withdrawal, the ratings on Municipal Bank reflected
the bank's 'bb' anchor, 'weak' business position, 'moderate'
capital and earnings, 'moderate' risk position, 'average'
funding, and 'adequate' liquidity, as our criteria define these
terms. The stand-alone credit profile (SACP) was 'b'," S&P said.

"Prior to the withdrawal, we had revised our assessment of the
bank's capital and earnings to 'moderate' from 'adequate',
although this did not affect the ratings on the bank. This is
because, under our criteria, a 'moderate' assessment of capital
and earnings does not lead to a downward revision of the SACP for
banks that have an anchor of 'bb' or lower owing to the countries
in which they are located. Our revised assessment of capital and
earnings reflects our expectation that Municipal Bank's projected
Standard & Poor's risk-adjusted capital (RAC) ratio before
concentration adjustments would be about 5.0%-5.5% in the next 18
months. It also incorporates our view of the bank's weak earnings
capacity, compared with the industry average," S&P said.

"We also consider that the bank's capitalization only provided a
moderate cushion to absorb loan loss provisions at a time when
the Bulgarian operating environment remains depressed and further
loan losses could arise. We note that the bank's earnings
capacity is weak compared with peers due to tighter interest
margins, lower efficiency of operations, a high cost base, and
the weakened operating environment. Following a change in its
auditor, we understand that the bank reported significantly
elevated levels of credit costs in 2011, which resulted in a loss
for the year. This also wiped off about 8% of the bank's equity
base. Given the ongoing recession in Bulgaria, we do not expect
the pressure on domestic banks to ease in the next 12-18 months,"
S&P said.

"The outlook at the time of withdrawal was negative, reflecting
our view of the delayed impact of the ongoing recession on
Municipal Bank's financial profile. In particular, we observed
this through significantly increased credit losses, which
resulted in a loss for 2011 and depleted a portion of capital. We
believe there is a risk that further losses could materialize,
which could have resulted in a downward revision of our
assessment of the bank's risk position, or a further downward
revision of our assessment of capital and earnings," S&P said.



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F R A N C E
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MARITHE + FRANCOIS: Files for Bankruptcy Protection
---------------------------------------------------
Laure Guilbault at WWD reports that a spokeswoman for Marithe +
Francois Girbaud said the French denim brand has filed for the
French equivalent of Chapter 11 bankruptcy protection.

According to WWD, representatives of the label, which last year
mandated Banque Privee Edmond de Rothschild to open its capital
to outside investors, attended a hearing at a commercial court on
Thursday aimed at extending the observation period allowing
potential buyers to step in.

The spokeswoman declined to give further details, but said the
company planned to issue a statement in the next few days, WWD
notes.

Marithe + Fran‡ois Girbaud has been losing steam since the global
economic downturn, posting consolidated sales of EUR100 million,
or US$132.7 million at average exchange, in 2010, WWD relates.

Indian weaver Fibres & Fabrics International (FFI) is among the
rumored potential buyers, WWD discloses.

Marithe + Francois Girbaud is an international clothing company
based in France.



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G E R M A N Y
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THYSSENKRUPP AG: S&P Cuts Long-Term Corp. Credit Rating to 'BB'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term
corporate credit rating on Germany-based industrial conglomerate
ThyssenKrupp AG to 'BB' from 'BB+' and affirmed its short-term
corporate credit rating at 'B'. "We also lowered the ratings on
all the debt instruments issued and guaranteed by ThyssenKrupp to
'BB' from 'BB+' and revised downward our recovery ratings on all
the instruments to '4' from '3'. The outlook is negative," S&P
said.

"The downgrade reflects our expectation that the company's
leverage will remain above levels we consider commensurate with
the previous 'BB+' rating for the rest of financial 2012, ending
on Sept. 30, and 2013. Under our base-case scenario we expect
ThyssenKrupp's fully adjusted funds from operations (FFO)-to-debt
ratio to fall below 10% on Sept. 30, 2012 and be about 15% on
Sept. 30, 2013.  We previously assumed figures of 16% and 20%. We
now qualify the group's financial risk profile as 'aggressive'
compared with 'significant' before, reflecting its high leverage
against its 'strong' liquidity and long-term debt maturity
profile," S&P said.

"The downgrade also reflects continued losses and negative free
operating cash flow (FOCF) in the group's Steel Americas business
and limited visibility on the timeline for reaching breakeven
results, which we previously expected to happen in financial
2013," S&P said.

"Our decision does not currently factor in the potential disposal
of Steel Americas because we are not sure how easy it will be to
sell, as it is lossmaking, and the market environment remains
weak," S&P said.

"We continue to view ThyssenKrupp's business risk profile as
'satisfactory,' according to our criteria, assuming Steel
Americas' losses will be reduced in coming years. Supportive
factors include ThyssenKrupp's leading market positions and the
scope and diversification of its operations across several
industries--besides large-scale steel businesses the company has
several capital goods-related activities--which currently account
for most of its profits. The group's business risk profile
constraints include continued major near-term losses and
execution risks related to the potential sale of its EUR8 billion
investment in newly built steel plants in the U.S. and Brazil,
which are part of Steel Americas, that continue to suffer from
start-up challenges and a weak steel market environment. Other
risks include the group's exposure to cyclical and volatile
industries, such as steel, and the lack of vertical integration
in raw materials in its steel business area," S&P said.

"The negative outlook reflects the possibility that we could
lower the ratings in the next 12 months, if we believed
ThyssenKrupp had made limited progress toward the divestment of
its Steel Americas business, and its performance had not improved
significantly," S&P said.

"We might lower the ratings if we did not see the group's
adjusted FFO-to-debt ratio improving to 15% in financial 2013 or
if free operating cash flow continued to be negative in 2013. A
weaker macroeconomic environment in Europe than we assume under
our base-case scenario could also lead us to consider a negative
rating action," S&P said.

"We could revise the rating outlook to stable if the group was
able to improve its adjusted FFO-to-debt ratio above 15%. A
positive rating action of one or two notches could come from the
successful sale of ThyssenKrupp's new plants in Brazil or the
U.S., which management is contemplating, depending on the amount
and use of proceeds," S&P said.



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G R E E C E
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HELLENIC TELECOMMUNICATIONS: S&P Cuts Corp. Credit Rating to 'B-'
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term
corporate credit rating on Greek telecom operator Hellenic
Telecommunications Organization S.A. (OTE) to 'B-' from 'B'. "In
addition, we affirmed the 'B' short-term corporate credit rating.
The outlook is negative," S&P said.

"At the same time, we lowered the issue ratings on OTE's debt
incurred by OTE financing vehicle OTE PLC to 'B-' from 'B'," S&P
said.

"The rating action primarily reflects our view of the continued
deterioration of macroeconomic conditions in OTE's domestic
market, including another potential sovereign default or Greece's
exit from the eurozone following the inconclusive parliamentary
election in May 2012. It also reflects our view of the continued
recessionary environment in Greece (Hellenic Republic)
(CCC/Stable/C), with increasing unemployment rates, weaker
consumer spending, and a potential weakening in the payment
culture among business and residential customers. Furthermore, in
our opinion, the high country risk and challenged banking sector
could continue to impair OTE's ability to refinance or repay with
cash its large upcoming debt maturity of EUR1.2 billion in August
2013," S&P said.

"We currently believe there is at least a one-in-three chance
that Greece will exit the eurozone. We expect GDP to decline by
about 5% in 2012 following a drop of about 7% in 2011," S&P said.

"The 'B-' rating on OTE is one notch higher than our assessment
of OTE's stand-alone credit profile, primarily because we factor
in moderate support from OTE's 40% shareholder, Deutsche Telekom
AG (BBB+/Stable/A-2). We consider it difficult to assess at this
time whether Deutsche Telekom would step in to offset a
'drachmification' of OTE's debt. Under our criteria, such
'drachmification' would likely ultimately result in a default,"
S&P said.

"The negative outlook reflects the possibility of a further
downgrade if the likelihood of Greece's exit from the eurozone
continues to increase. In addition, we could lower the long-term
credit rating if our assessment of OTE's liquidity profile
weakens. This could result if OTE's covenant headroom durably
shrinks to less than 10%, if OTE is unable to partially refinance
its upcoming loan maturities, or if OTE does not bolster
liquidity through further asset disposals to address its debt
maturity in August 2013. In addition, we could lower the long-
term rating if we considered that Deutsche Telekom's commitment
to OTE had weakened," S&P said.

"We could revise the outlook to stable if OTE manages to
proactively refinance its large debt maturities in 2012 and 2013.
In addition, we would expect OTE to maintain adequate covenant
headroom. Finally, to warrant a stable outlook we would likely
need to be confident that the likelihood of Greece's exit from
the eurozone had materially declined and that any negative impact
from a possible Greek sovereign default would not materially
affect our base-case assumptions," S&P said.

"Ratings upside appears limited at this stage, but could result
if our view of Deutsche Telekom's commitment to OTE strengthened,
for example thanks to a material increase in its shareholding or
other explicit forms of financial support," S&P said.


PUBLIC POWER: S&P Cuts Corp. Credit Rating to 'CC'; Outlook Neg.
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term
corporate credit rating on Greece-based utility Public Power
Corp. S.A. (PPC) to 'CC' from 'CCC'. The outlook is negative.

"The downgrade chiefly reflects our view that PPC's liquidity,
which we assess as 'weak,' has deteriorated further in the past
six months. We believe the company has exhausted its liquidity
sources and that its ability to honor its large financial
obligations in 2012 mostly depends on external factors in the
currently highly uncertain environment in Greece (Hellenic
Republic, CC/Stable/C)," S&P said.

PPC faces debt service of nearly EUR1 billion by the end of 2012,
mostly with Greek banks, and of which about half is due in June.

"Based on first-quarter reported results, PPC's cash levels are
minimal, and its total current liabilities exceeded total current
assets (excluding cash) by nearly EUR900 million on March 30,
2012. Most of its debt maturing with Greek banks in the first
quarter -- totaling EUR650 million -- was extended, but only for
a quarter," S&P said.

"PPC's plummeting earnings under adverse operating conditions are
the main reason behind its worsening liquidity, in our view.
Falling power demand, market share, poor weather that dragged
hydropower to historic lows, and rising fuel and power purchasing
costs drove 2011 reported EBITDA down 49%, compared with the 2010
figure, despite sizable payroll reductions. Still, PPC posted a
13% increase in year-on-year revenues in first-quarter 2012,
owing to market share gains -- owing to the suspension of
alternative suppliers' operations -- and tariff hikes. EBITDA
continued to fall in the quarter, however, losing nearly 30%,
because of PPC's power and fuel purchases were further inflated
by the interruption in imports from Bulgaria," S&P said.

"PPC is now operating in a period of unprecedented uncertainty in
Greece because the possibility that it could pull out of the
European Economic and Monetary Union (EMU, or eurozone) has
become more tangible. The uncertainty will likely prevail at
least until Greece's electorate returns to the polls on June 17,
after failing to elect a clear majority in the May 6
parliamentary elections," S&P said.

"The negative outlook reflects our view that PPC will likely
default on its obligations in the near term, as defined by our
criteria, if we don't see rapid improvement in operating
conditions and liquidity. In addition, the negative outlook
factors in the likelihood that PPC would likely be unable to
service its euro-denominated debt if Greece decided to readopt
the drachma or adopt a new operating currency. Standard & Poor's
now believes there is a one-in-three chance that Greece will exit
from the eurozone," S&P said.

"The negative outlook also takes into account PPC's near-term
refinancing risk and the likelihood that enduring political
uncertainty or deteriorating economic conditions could worsen the
group's already ailing liquidity situation even if Greece does
not exit the eurozone," S&P said.

"We could lower our long-term rating on PPC to 'SD' (selective
default) if it failed to meet interest or principal payments on
their due date. This includes exchange offers of new debt with
less favorable terms than those of the original issue without
what we view to be adequate offsetting compensation," S&P said.

"An outlook revision to stable or an upgrade would, in our view,
depend on the group's ability to significantly improve its
liquidity position in the next months, should PPC successfully
refinance its short-term debt and, in turn, weather its current
liquidity squeeze. In our view, this may result from," S&P said:

-  The tariff reform prescribed by the EU and the International
    Monetary Fund (IMF) as part of Greece's bail-out program, if
    it's implemented, which would likely result in pronounced
    tariff and, in turn, earnings increases for PPC as early as
    2013;

-  PPC's disposal of some assets, including coal mines and coal
    power plants, or the opening up of capital of its recently
    setup transmission or distribution subsidiaries; and

-  The future owner of PPC's privatized stake provides liquidity
    support to the company.


* GREECE: Moody's Cuts Ratings on Asset-Backed Covered Bonds
------------------------------------------------------------
Moody's Investors Service has downgraded the following covered
bond ratings due to Moody's lowering of its Greek country ceiling
to Caa2:

- The mortgage covered bonds issued by Alpha Bank AE to Caa2
   from B1 (under Alpha's Direct Issuance Programme)

- The covered bonds issued by Eurobank EFG under its first
   program to Caa2 from B1 and to Caa2 from B2 under its second
   program

- The covered bonds issued by National Bank of Greece to Caa2
   from B1, under both of its programs.

Furthermore, Moody's has downgraded to B2 from B1 the ratings
assigned to the covered bonds issued by Cyprus Popular Bank that
are backed by Greek residential mortgage loans.

Moody's lowering of the Greek country ceiling to Caa2 reflects
the heightened risk of Greece exiting the euro area.

Ratings Rationale

The downgrades reflect Moody's lowering to Caa2 of its assessment
of the highest rating that can be assigned for debt obligations
issued by domestic Greek issuers, or where cash-flows used to
repay debt obligations are sourced from domestic Greek assets.
This level reflects the increasing risk of Greece's exit from the
euro area, and the near-automatic effect of currency
redenomination on default of those obligations. Therefore, the
maximum achievable rating applies to all forms of ratings in
Greece, including covered bond ratings.

Transactions backed by Greek local assets are significantly
exposed to a scenario where Greece exits the euro area. This
holds true regardless of the jurisdiction in which the debt
obligations are issued and the law governing such debt
obligations. Most structured finance securities benefit from
diversification of revenue sources and are issued under UK law;
however, (i) collateral assets are governed under Greek law and
are therefore all exposed to redenomination risk; and (ii)
underlying obligors are all similarly affected by macroeconomic
distress.

Covered bond transactions also rely on the issuers to provide
servicing functions and other financial roles (such as account
banks, swap counterparties, and cash managers). The affected
covered bonds are therefore vulnerable to the degree of banking
sector distress that would be generated by Greece exiting the
euro area.

The highest rating for Greek covered bonds is now Caa2. The
covered bonds that are backed by Greek assets, and which are
issued by Cypriot banks, are now rated one notch above the
respective issuer rating.

The TPIs assigned to the above transactions are Very Improbable.

The ratings assigned by Moody's address the expected loss posed
to investors. Moody's ratings address only the credit risks
associated with the transaction. Other non-credit risks have not
been addressed, but may have a significant effect on yield to
investors.

Key Rating Assumptions/Factors

Covered bond ratings are determined after applying a two-step
process: an expected loss analysis and a TPI framework analysis.

EXPECTED LOSS: Moody's determines a rating based on the expected
loss on the bond. The primary model used is Moody's Covered Bond
Model (COBOL), which determines expected loss as (i) a function
of the issuer's probability of default (measured by the issuer's
rating); and (ii) the stressed losses on the cover pool assets
following issuer default.

Moody's did not perform an expected loss analysis for the
affected covered bonds, because Moody's lowering of its country
ceiling for Greek debt was the main driver of the downgrade.
Moody's stress scenarios include a higher probability assigned to
an exit of the country from the euro area and redenomination
risk. Further increases in the likelihood of these events, or a
further deterioration in Greek transaction counterparty
creditworthiness, would be credit-negative events.

TPI FRAMEWORK: Moody's assigns a "timely payment indicator"
(TPI), which indicates the likelihood that timely payment will be
made to covered bondholders following issuer default. The effect
of the TPI framework is to limit the covered bond rating to a
certain number of notches above the issuer's rating.

Sensitivity Analysis

The robustness of a covered bond rating largely depends on the
credit strength of the issuer.

The TPI Leeway measures the number of notches by which the
issuer's rating may be downgraded before the covered bonds are
downgraded under the TPI framework. The TPI assigned to the above
programs is Very Improbable. Therefore, the TPI Leeways for these
programs are limited and any downgrade of the issuer ratings may
lead to a downgrade of the covered bonds.

A multiple-notch downgrade of the covered bonds might occur in
certain limited circumstances, such as (i) a sovereign downgrade
negatively affecting both the issuer's senior unsecured rating
and the TPI; (ii) a multiple-notch downgrade of the issuer; or
(iii) a material reduction of the value of the cover pool.

As the euro area crisis continues, the rating of covered bonds
remain exposed to the uncertainties of credit conditions in the
general economy. The deteriorating creditworthiness of euro area
sovereigns as well as the weakening credit profile of the global
banking sector could negatively impact the ratings of covered
bonds.

Rating Methodology

The principal methodology used in these ratings was "Moody's
Approach to Rating Covered Bonds" published in March 2010.



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AEROPORTI DI ROMA: S&P Lifts Corp. Rating to 'BB+' on Refinancing
-----------------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term corporate
credit rating on Italian airport operator Aeroporti di Roma (AdR)
to 'BB+' from 'BB'. "We also affirmed the short-term rating on
the company at 'B'. At the same time, we removed the rating from
CreditWatch with developing implications, where it was placed on
March 2, 2012. The outlook is positive," S&P said.

"We raised the rating because AdR has successfully entered into a
new EUR400 million syndicated term loan, which should be
sufficient to repay Tranche A1 of the debt held by its finance
subsidiary Romulus Finance S.r.l., the balance of which is due in
February 2013. This eliminates the liquidity pressure that had
been weighing on the rating and restores our assessment under our
criteria of AdR's liquidity to 'adequate' from 'less than
adequate'. The upgrade is also consistent with the company's
improving credit metrics," S&P said.

"The rating does not incorporate the proposed changes to AdR's
regulatory framework. In our opinion, if the new regulation is
implemented as proposed, it could lead to a marked improvement in
credit metrics compared with our current base-case scenario, and
therefore support a higher rating. This is because the proposed
concession agreement incorporates a clear legal framework and
considerable improvement in tariffs, to some extent offset by
higher capital-spending requirements. However, we do not
incorporate such an improvement into our base-case scenario
because, despite considerable progress within the past year, the
new regulation remains subject to approval from several parties.
Additionally, the rating does not incorporate the proposed sale
of AdR's direct retail and car parking activities, because the
amount of proceeds and the timing of disposal remain subject to
market conditions," S&P said.

"The positive outlook reflects the possibility of an upgrade if
AdR's credit measures continue to improve, such that the adjusted
ratio of funds from operations (FFO) to debt remains above 12% on
a sustained basis. This could occur, for example, through
approval of the proposed regulatory and tariff framework as
currently outlined or additional debt repayments from proceeds of
the subconcession of its direct retail and car parking services.
A possible upgrade would also depend on AdR's either improving
its long-term capital structure or continuing to refinance
upcoming debt maturities in a timely manner, while sustaining its
'strong' business risk profile," S&P said.

"We could revise the outlook to stable if we thought that the
company would not sustain a ratio of adjusted FFO to debt of more
than 12%. That could result, for example, from passenger numbers
dropping below our current base-case scenario, possibly due to
economic conditions in Italy being softer than we currently
anticipate, and thus AdR might suffer weaker-than-forecast
operating performance," S&P said.



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R U S S I A
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BARS BANK: Fitch Cuts Long-Term IDR to 'BB-'; Outlook Negative
--------------------------------------------------------------
Fitch Ratings has downgraded Ak Bars Bank's (ABB) Long-term
Issuer Default Rating (IDR) to 'BB-' from 'BB', and Viability
Rating (VR) to 'b' from 'b+'.  The Outlook on the Long-term IDR
is Negative.

The downgrade of ABB's Long-term IDR reflects what Fitch views as
greater uncertainty about sufficient capital support being
provided to the bank by the government of the Republic of
Tatarstan (RT; 'BBB-'/Stable), which is disclosed as having
ultimate control over the bank.  The revised view reflects the
limited scope of current recapitalization measures, and the
reduced financial flexibility of the RT government.

According to ABB's calculations, the bank's Basel I total capital
adequacy ratio dropped at end-2011 to 11.8%, a level below the
12% covenanted in the bank's US$280 million Eurobond issue, due
December 2012.  However, Fitch calculates that the ratio could be
substantially lower since the calculation reported by the bank at
that date was based on insufficient amortization of the
regulatory capital recognition given to short-dated subordinated
debt.  The regulatory capital adequacy ratio also decreased to
11.3% at end-April 2012 (from 12.1% at end-2011).

In Fitch's view, ABB's capitalization is weak, given the bank's
risk profile.  However, there are currently only plans for some
of the bank's main shareholders to contribute Tier 2 capital
(subordinated debt), with no equity injections envisaged in the
near term.  In May 2012, RT-controlled entities provided RUB3
billion subordinated debt (which according to the bank's
calculations would remedy the covenant breaches), and there are
plans to replace this with a larger US$600 million (c.RUB20
billion) issue of subordinated notes, which would initially be
placed with ABB's related party, Svyazinvestneftekhim ('BBB-
'/Stable), but with a view to subsequently sell these on to the
market.  According to Fitch's estimates, this issue would improve
the regulatory capital ratio to over 16% and Basel total ratio to
13%, but would not strengthen the bank's loss absorbing capital.

RT's financial flexibility has reduced in recent years due to
significant volumes of debt taken on to finance infrastructure
spending, primarily that involved with preparation for a student
sport event (Universiade), to be held in Kazan in 2013.  RT's
debt increased to RUB50.8 billion at end-2011 (equal to 31% of
annual budget revenues), an approximately fourfold increase from
end-2009.  In addition, the regulatory approval of unexpected
equity injections by the local budget may be quite lengthy, as it
requires the consent of the local legislative body.

Fitch continues to incorporate some support from the local
government into ABB's ratings, given the bank's significant
market share in the republic, the large amount of public sector
deposits held with the bank, ABB's sizable retail deposit base,
the close association of the government with the bank, and also
the efforts to support ABB's regulatory capital. However, the
Negative Outlook reflects the potential for the Long-term IDR to
be downgraded further if the bank suffers further losses without
its loss-absorbing capital being strengthened.

The downgrade of the VR reflects the deterioration in ABB's
capitalization and performance.  In addition, the VR takes into
account the bank's weak governance and asset quality, high market
and credit risks and now tighter liquidity position.  However,
the VR is supported by access to funding from the RT government
and RT-controlled companies, and limited refinancing risk.

ABB reported a loss of RUB3.5 billion in its 2011 IFRS financial
statements.  This was partly driven by a RUB3.4 billion negative
result on securities (including GDRs).  However, even without
these market losses the bank would have been marginally loss-
making on a pre-impairment basis, reflecting significant margin
compression.

Market risks remain high, with investments in equities (including
USD-denominated GDRs) totalling RUB12 billion (equal to 46% of
ABB's core capital) at end-2011, which also leads to a short open
USD position equal to 39% of core capital.  These positions could
have resulted in further losses in H112 given share prices and
RUB weakness.  Substantial investments in non-core assets, mainly
comprising land plots and other real estate property, were
approximately equal in size to core capital at end-2011,
undermining the quality of capital and potentially also exposing
the bank to further future losses.

Although the headline indicators signal stabilization in ABB's
asset quality (with 5.3% reported non-performing loans at end-
2011), high downside risks remain resulting from the structure of
ABB's loan book.  The total real estate/construction exposures
accounted for at least RUB32 billion (1.2x core capital), and
redemption of the majority of these loans will be possible only
after the ultimate sale of the financed projects, some of which
involve significant completion risks.  Reported related-party
lending, including to RT-controlled entities and companies
controlled by ABB's management, comprised at least 26% of gross
loans at end-2011 (equivalent of almost 2x equity).

ABB's liquidity position has become more tightly managed, and the
bank has limited capacity to withstand market turbulence.  Fitch
estimated that at end-Q112 ABB's available liquidity cushion was
equal to about 22% customer funding, although a significant part
of this represented placements by the RT government and RT-
controlled companies.  The bank's liquidity may come under
pressured from seasonal volatility in some of the accounts, which
can be particularly acute at year end, when ABB's Eurobond also
matures.  In addition, non-core deposits (representing funds
received on auctions from state-related entities) comprised about
RUB15bn at end-Q112 (about 10% of total corporate deposits).

The rating actions are as follows:

  -- Long-term foreign currency IDR downgraded to 'BB-' from
     'BB'; Outlook Negative

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

  -- National Long-term rating downgraded to 'A+(rus)' from 'AA-
     (rus)'; Outlook Negative

  -- Viability Rating downgraded to 'b' from 'b+'

  -- Support Rating affirmed at '3'

  -- Senior unsecured debt downgraded to 'BB-' from 'BB'

  -- Senior unsecured debt National rating downgraded to
     'A+(rus)' from 'AA-(rus)'


CAT OIL: S&P Affirms 'BB-/B' Corp. Credit Ratings; Outlook Pos.
---------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to
positive from stable on Russia-based oilfield services (OFS)
company C.A.T. oil AG (CAToil). "We also affirmed our 'BB-' long-
term and 'B' short-term corporate credit ratings on the company,"
S&P said.

"At the same time, we affirmed the Russian national scale rating
on CAToil at 'ruAA-'," S&P said.

"The outlook revision reflects our view that CAToil should be
able to show further improvement in operating performance in
2012-2013, reflecting expansion into conventional drilling rigs,
which will complement its hydrofracturing and sidetracking
divisions. The last six conventional rigs on order will be put
into operations in the coming month. We expect the new drilling
rig division to contribute about EUR40 million to EUR45 million
of revenues and EUR11 million to EUR12 million of EBITDA in 2012
and twice these amounts from 2013 onward. At the same time, we
expect CAToil to maintain a conservative financial policy, low
leverage, and 'adequate' liquidity," S&P said.

"On March 31, 2012, CAToil reported EUR60 million of EBITDA for
the past 12 months. It also reported net debt of EUR56.4 million,
which translates into our adjusted debt-to-EBITDA ratio of about
0.9x," S&P said.

"The positive outlook reflects our expectation that CAToil will
further increase operating cash flow, based on a supportive oil
industry and the benefits of new conventional drilling rigs. It
also factors in our assumption that the company will remain
committed to maintain low debt leverage," S&P said.

"An upgrade could result in the next 12 to 18 months if the
company continues to adhere to its prudent financial policies,
and maintains debt to EBITDA of less than 1.0x under standard
industry conditions and up to a 1.5x maximum in a downturn.
Before any upgrade, we would monitor CAToil's capital expenditure
plans post-2012. We would also view a stronger track record with
respect to bank relationships as positive," S&P said.

"We might revise the outlook to stable if CAToil's operating cash
flow were to decline or if its investment program and dividend
policy were to become more aggressive than we anticipate, leading
to less conservative leverage, for example debt to EBITDA
exceeding 1.5x," S&P said.


FAR EASTERN: Moody's Withdraws 'B3' Corp. Family Rating
-------------------------------------------------------
Moody's Investors Service has withdrawn the B3 corporate family
rating (CFR) and B3 probability of default rating (PDR) of JSC
Far Eastern Generating Company, the major power and heat
generator in Russia's Far East. Prior to the withdrawal, FECG's
ratings carried a stable outlook.

Ratings Rationale

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

Moody's notes that FEGC has no debt rated by Moody's.

Headquartered in the city of Khabarovsk, Khabarovsky Krai, JSC
FEGC is the largest power and monopoly heat generator in the
Russian Far East market. The company is part of the RAO Energy
System of East Group, which is majority owned by the government-
controlled RusHydro (Ba1 Stable). FEGC's 2011 revenues were
RUB51.7 billion (around US$1.7 billion).


OIL INSURANCE: S&P Withdraws 'B+' FC Counterparty Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services corrected its ratings on JSC
Oil Insurance Co by withdrawing the 'B+' foreign currency long-
term counterparty credit rating and assigning its 'B+' local
currency financial strength rating to NSK. The rating
type was presented incorrectly in our database.

The 'B+' local currency long-term issuer credit rating and
'kzBBB' Kazakhstan national scale ratings remain unchanged.

                          RATINGS LIST

Rating Withdrawn

                                To                   From
JSC Oil Insurance Co
Foreign Currency Counterparty Credit Rating
                                NR                  B+/Stable/--

New Rating

                                To                   From
JSC Oil Insurance Co
Local Currency Financial Strength Rating
                                B+/Stable/--        NR


SEVERSTAL OAO: Moody's Upgrades CFR/PDR to 'Ba1'; Outlook Stable
----------------------------------------------------------------
Moody's Investors Service has upgraded the corporate family
rating (CFR) and probability of default rating (PDR) of OAO
Severstal to Ba1 from Ba2. Concurrently, Moody's has upgraded the
ratings on the senior unsecured debt issued by Severstal and
Steel Capital S.A. to Ba1 (with a loss-given-default assessment
of LGD4, 55%) from Ba2. The outlook on the ratings is stable.

Ratings Rationale

"The rating action reflects continued improvement in Severstal's
operating performance and financial profile, including solid
profitability aided by a favorable cost profile and healthy cash
flow generation, which has resulted in improved interest coverage
and leverage ratios," says Steven Oman, a Moody's Senior Vice
President and lead analyst for Severstal. In 2011, the company's
cash flow from operations (CFO) was US$2.6 billion, almost double
that of 2010, which produced US$560 million of adjusted free cash
flow despite higher capital expenditure (capex). In addition, the
company further reduced its adjusted gross debt/EBITDA metric to
1.7x in 2011 (2010: 1.9x), down from 3.9x in 2009.

Moody's expects that Severstal will be able to maintain its
current cost-competitive position on the back of a high level of
vertical integration into key raw materials and complete self-
sufficiency in coal and iron ore in its Russian operations.
Moreover, Moody's expects Severstal's growing mining business
will be one of its main contributors to the company's EBITDA
going forward.

The stable outlook reflects Moody's view that Severstal's
financial metrics will hold up relatively well even in the
currently challenging macroeconomic environment and soft global
steel market. The outlook also incorporates the rating agency's
expectation that the company will maintain sufficient liquidity.

What Could Change the Rating Up/Down

Moody's would consider upgrading Severstal's rating if the
company were to continue to demonstrate a conservative financial
profile, with (i) gross debt/EBITDA below 2.0x on a sustainable
basis; (ii) an EBIT margin sustainably in the mid-teens in
percentage terms; (iii) the ratio of (CFO-dividends)/debt
consistently above 30% (all ratios using Moody's adjusted
numbers); and (iv) prudent liquidity management.

Negative rating pressure would occur if Severstal's Moody's-
adjusted gross debt/EBITDA ratio moved above 2.5x or if its (CFO-
dividends)/debt ratio declined to below 20% on a sustainable
basis. A deterioration in the company's currently good liquidity
position would also exert pressure on the rating.

Principal Methodology

The principal methodology used in rating Severstal was "Global
Steel Industry", published in January 2009. Other methodologies
used include "Loss Given Default for Speculative-Grade Non-
Financial Companies in the U.S., Canada and EMEA", published in
June 2009.

Severstal is a vertically integrated global steel and steel-
related mining company, with assets in Russia, the US, Ukraine,
Latvia, Poland, Italy, Liberia and Brazil. Severstal is listed on
the Moscow Interbank Currency Exchange (MICEX) and the company's
global depository receipts are traded on the London Stock
Exchange (LSE). The company is directly and indirectly controlled
by CEO Mr. Alexey Mordashov, who currently holds approximately
84.6% of its share capital. In 2011, Severstal had revenue of
US$15.8 billion and Moody's-adjusted EBITDA of US$3.7 billion.
Severstal's crude steel production in 2011 reached 15.3 million
tonnes.


* KRASNODAR: Fitch Raises Long-Term Currency Ratings to 'BB+'
-------------------------------------------------------------
Fitch Ratings has upgraded the Russian Krasnodar Region's Long-
term foreign and local currency ratings to 'BB+' from 'BB' and
affirmed the region's Short-term rating at 'B'.  The agency has
also upgraded the region's National Long-term rating to 'AA(rus)'
from 'AA-(rus)'.  The Outlooks on the Long-term ratings are
Stable.  The rating action also affects the region's two
outstanding domestic bonds of RUB4.1 billion.

The upgrade reflects the region's sound operating performance,
exceptionally strong liquidity and moderate level of direct risk.
The Stable Outlook reflects Fitch's expectation of a steady
operating performance in 2012-2014 and the region's debt
remaining at about 30% of current revenue.

Fitch notes that further positive rating action would be subject
to strong budgetary performance with an operating margin at about
20% in the medium term coupled with stabilization of direct risk.
Growth of deficit leading to direct risk significantly above
Fitch's expectations and sharp deterioration of direct risk to
current balance above average maturity of the region's direct
risk would be negative for the rating.

Fitch expects continued stable growth of the local economy in
2012-2014, boosted by large federally supported investment
programs, mostly for the 2014 Winter Olympic Games in Sochi, and
the development of recreational zones.  The region has a strong
and well-diversified economy, which provides a broad tax base and
stable tax revenue flows.

Fitch forecasts the region's direct risk in relative terms to
gradually decrease to about 20% of current revenue by 2014 due to
a decline of financing needs, as large-scale investment projects
linked to the Winter Olympics will be completed.  Direct risk to
current balance will also be strong, at about two years. Despite
the increase of direct risk to RUB38.9 billion by end-2011 (2010:
RUB19.4 billion), it remains moderate in relative terms at 31% of
current revenue.

Fitch forecasts that capital expenditure peaked in 2011 and will
gradually decline in 2012-2013.  Krasnodar region's capital
expenditure amounted to RUB72.6 billion or 41% of total budgetary
expenditure in 2011.  Fitch expects the region to have another
year of a deficit before debt variation in 2012 and a close to
balanced budget starting in 2013.

Krasnodar region is located in the southwest of the Russian
Federation on the coast of the Black Sea and Sea of Azov.  The
region has a strong and well-diversified economy and is among the
10 largest Russian regions by nominal gross regional product
(GRP).  It is the third most populated Russian region, with
5.2 million inhabitants.



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


AYT COLATERALES: Fitch Upgrades Rating on Class D Notes to 'BBsf'
-----------------------------------------------------------------
Fitch Ratings has downgraded AyT Colaterales Global Empresas
(CGE) Serie Caja Navarra I's class A and B notes and removed them
from Rating Watch Negative (RWN) and upgraded the class C and D
notes.

The downgrade of the Class A and B notes to 'BBB+sf' is due to
the counterparty risk stemming from Confederacion Espanola de
Cajas de Ahorros (CECA; 'BBB+'/Negative/'F2'), which acts as
account bank for the transaction.  The ratings initially assigned
to the senior notes were based on covenants in the transaction
documentation which warranted the replacement or procurement of
eligible third-party guarantees upon the downgrade of the account
bank below 'A'/'F1'.  The Gestora has now communicated to Fitch
that the remedial actions outlined in the documentation with
respect to the downgrade of the account bank below 'A'/'F1' will
not be implemented.

The account bank risk is significant for the transaction as the
notes have semi-annual payment dates, which would result in a
substantial amount of principal collections as well as the
reserve fund being held with CECA.  As a result, Fitch has capped
the rating of the notes at the account bank's rating.  The
Negative Outlook on the notes also reflects the linkage.

The upgrade of the Class C notes to 'BBB+sf' (capped at CECA's
rating) is due to good asset performance and increased credit
enhancement (CE) due to portfolio deleveraging.  The CE available
to the class C notes is in excess of the agency's 'BBB+sf' loss
expectations, but any further upgrade is constrained by CECA's
rating.

The upgrade of the Class D notes to 'BBsf' is due to increased
credit protection and the ability of the notes to withstand the
agency's rating stresses.  The Stable Outlook on the notes is due
to the underlying asset performance.

The transaction's performance has been stable since the last
review.  The 90+ delinquency rate is below 2% while current
defaults account for 4% of the outstanding portfolio balance.
The reserve fund is currently underfunded at EUR9.5 million
compared to the required amount of EUR12.4 million.  Borrower
concentration is steadily increasing as the portfolio
deleverages, but it is covered by credit enhancement levels on
the notes.

AyT CGE Serie Caja Navarra I is a securitization of Spanish SME
loans issued under the AyT Colaterales Global Empresas, FTA
program.  Serie Caja Navarra I was originated and is serviced by
Caja de Ahorros y Monte de Piedad de Navarra (now Banca Civica
S.A., 'BBB'/RWP/'F3').

The rating actions are as follows:

  -- Class A notes (ISIN ES0312214044): downgraded to 'BBB+sf'
     from 'AAAsf', removed from RWN; Negative Outlook

  -- Class B notes (ISIN ES0312214051): downgraded to 'BBB+sf'
     from 'Asf', removed from RWN; Negative Outlook

  -- Class C notes (ISIN ES0312214069): upgraded to 'BBB+sf' from
     'BBB-sf'; Negative Outlook

  -- Class D notes (ISIN ES0312214077): upgraded to 'BBsf' from
     'Bsf'; Stable Outlook


BANCO FINANCIERO: S&P Lowers Rating on Preferred Shares to 'CC'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered to 'CC' from 'CCC-'
its issue rating on the preference shares issued in November 2004
by Caja Madrid Finance Preferred S.A. and currently guaranteed by
Spain-based Banco Financiero y de Ahorros S.A. (BFA; B+/Watch
Neg/B), parent company of Bankia S.A. (BB+/Watch Neg/B). The
issue has the ISIN number ES0115373005. "This is the only
preference share issue of BFA that we rate. According to the
bank, this issue has a total outstanding of EUR2 million," S&P
said.

"The rating action follows BFA's announcement on June 1, 2012,
that it will not pay dividends and coupons on a number of
preference shares and undated subordinated debt issues it has
outstanding, including the one preference share issue that we
rate. The communication of nonpayment follows the restatement of
the group's 2011 financial accounts, which led the group to
report losses on an individual and consolidated basis of EUR7.3
billion and EUR3.3 billion," S&P said.

"According to the terms and conditions of the preference shares
we rate, the holder of this instrument is not entitled to receive
a dividend payment if the amount of the prior year's
distributable profits reported by the guarantor is lower than the
amount of dividends to be paid. Given that the dividends are
noncumulative, the right of holders to this dividend will be
lost," S&P said.

"As a result, at the time of next dividend payment, on June 17,
2012, holders of these preference shares will not receive any
dividend payment. Given the low amount outstanding on this issue
(EUR2 million), which has been subject to two exchange offers (in
2009 and in 2012), the unpaid dividend will amount, according to
BFA's disclosure, to just EUR15,116," S&P said.

"We expect to lower our issue rating on this instrument to 'C'
once BFA effectively skips the payment on June 17, 2012," S&P
said.

RATINGS LIST
Downgraded
                                        To                 From
Caja Madrid Finance Preferred S.A.
Preference Stock                       CC                 CCC-


* SPAIN: Banks Need Urgent Recapitalization, Finance Leaders Say
----------------------------------------------------------------
Adam Ewing and Josiane Kremer at Bloomberg News report that
leaders of some of the world's biggest banking and finance groups
said Spain's banks need urgent aid plugged directly into their
balance sheets and Europe can no longer allow itself to deploy
half measures.

"It must be done with full magnitude," Bloomberg quotes Christian
Clausen, the president of the European Banking Federation and
chief executive officer of Nordea Bank AB (NDA), as saying in an
interview in Copenhagen on Thursday.  Mr. Clausen, as cited by
Bloomberg, said that recapitalizing Spain's banks has become the
key hurdle that European policy makers need to overcome, and
fixing the turmoil in the nation's financial system would calm
markets.

Bankers are stepping up their pleas for action as Spain's
financial crisis risks engulfing the euro area's fourth-largest
economy and policy makers remain divided on how best to tackle
the issue, Bloomberg notes.  The European Commission last month
lent its support to proposals to provide a direct capital
infusion to Spain's banks, a model Germany opposes in favor of
aid with fiscal austerity strings attached, Bloomberg recounts.

According to Bloomberg, Spain's banks are buckling under the
weight of EUR184 billion (US$231 billion) in real estate loans
that the Economy Ministry has characterized as "problematic."
The country's lenders may need as much as EUR100 billion in
support, Antonio Lopez Isturiz, a leader of the European People's
Party, said on Thursday in an interview with broadcaster TVE,
Bloomberg notes.

Norway's Finance Minister added his voice to the request for
action as the world's second-richest nation per capita after
Luxembourg warns failure to act will threaten financial stability
in its markets, Bloomberg relates.

According to Bloomberg, Stefan Ingves, the chairman of the Basel
Committee on Banking Supervision, said that Europe needs to act
fast if it is to calm markets.  Mr. Ingves, as cited by
Bloomberg, said that recapitalizing Spain's banks should be
accompanied by a restructuring of the country's financial system.

Bloomberg notes that Mr. Clausen said a European banking union, a
model being discussed as a way to coordinate regulation and
deposit guarantees across borders, would be a "step in the right
direction".



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


DOMETIC GROUP: Moody's Downgrades Rating on PIK Notes to 'Caa2'
---------------------------------------------------------------
Moody's Investors Service lowered the rating of EUR202 million
PIK Notes due 2019 issued by Dometic Group AB to Caa2 from Caa1.
Moody's has also assigned a B3 Corporate Family Rating (CFR) and
B3 Probability of Default Rating (PDR) to Dometic Group AB
("Dometic"), the parent of Dometic Koncern AB, and has
concurrently withdrawn the B1 CFR and B2 PDR from Dometic Koncern
AB. The outlook for all ratings is negative.

Ratings Rationale

The one notch downgrade of the rating of the PIK notes to Caa2
reflects Dometic's weak operational performance combined with the
high level of change and uncertainty at senior management.

The transfer of the CFR and PDR to Dometic Group AB (publ) from
Dometic Koncern AB stems from the fact that, against Moody's
previous expectations, consolidated audited financial statements
will only be reported at the level of Dometic Group AB (publ).
The inclusion of PIK debt into Dometic's CFR (previously excluded
from Moody's calculations) mechanically increases the debt and
leverage under consideration. The two notch change in CFR from B1
to B3 reflects both this additional debt burden and Moody's
concerns over Dometic's operational issues.

Moody's only rates the PIK debt in Dometic's structure, which is
ring-fenced from the bank debt borrowing group within the re-
positioned CFR.

Dometic's performance deteriorated in the second half of 2011, in
part reflecting a weaker macroeconomic environment and consumer
confidence in Europe. As a result the company failed to
deleverage during 2011, contrary to Moody's expectation. Moody's
estimates that adjusted leverage based on unaudited pro forma
results for the 12 months ending December 31, 2011 was 7.2x
(including PIK debt) or 5.6x (excluding PIK debt). The rating
agency notes that 2011 results were unfavorably affected by
foreign currency fluctuations. Additionally, numbers are impacted
by various adjustments, some of which may be non-recurring,
primarily related to the sale of the group to EQT in May 2011 as
well as restructuring expenses.

Since the beginning of 2012 the company's CEO and the CFO have
each announced their resignation. Furthermore, this is the second
change in CFO since the sale of the company to EQT in May 2011.
Dometic is still searching for a new permanent CEO and the new
CFO will start in August. This high level of change and
uncertainty at senior management places additional pressure on a
company with high leverage to navigate through challenging times.

At December 2011, Dometic reported SEK762 million of cash on its
balance sheet. Moreover the company has SEK357 and SEK147 million
undrawn under the SEK600 million revolving credit facility (RCF)
and SEK300 million Capital Expenditure facility, respectively.

The negative outlook reflects the increasing pressure on covenant
headroom from December 2011. Moody's expects this covenant
pressure to increase given ratcheting covenant levels, combined
with its view that operational performance is unlikely to improve
in 2012.

The ratings outlook could stabilize through a combination of
improving liquidity (including covenant headroom) through
improved operational performance, combined with stability at the
senior managerial level.

Conversely, the ratings could be downgraded if Dometic's total
leverage (Including the PIK debt) fails to fall below 7x in 2012,
or if liquidity (including covenant headroom) deteriorates
further, or if there is further uncertainty and change at senior
management.

The methodologies used in these ratings were Global Manufacturing
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 Sweden, Dometic is a leading manufacturer of
leisure products for the caravan, motor home, automotive, truck,
hotel and marine markets in almost 100 countries. The company
operates 21 production facilities in 8 countries and sells its
products under Dometic, Waeco, Marine Air Systems, Condaria,
Cruisair and Sealand brands. Europe and the U.S. are the
company's key geographies, accounting for 87% of revenue for the
year ended December 31, 2011. The company's largest segment is
recreational vehicles, accounting for 55% of 2011 revenue. The
company generated SEK7,941 million pro forma for 12 months ended
December 31, 2011.



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


BATTERSEA POWER: Malaysian Consortium Named Preferred Bidder
------------------------------------------------------------
Graham Ruddick at The Telegraph reports that a consortium backed
by the Malaysian government has been named as the preferred
bidder for Battersea power station in a GBP400 million deal that
could save the historic structure.

Property developers SP Setia and Sime Darby have entered
exclusive talks to buy the building, the Telegraph discloses.
Both companies are backed by the Malaysian sovereign wealth fund
Permodalan Nasional Berhad, the Telegraph notes.

The Malaysian consortium, which is being advised by Deutsche Bank
fund manager RREEF, is understood to have significantly outbid
Chelsea, the Telegraph says.  According to the Telegraph, it is
planning to press ahead with the GBP5.5 billion and 3,400-home
development that was proposed by the previous owners.

The consortium now has 28 days to conduct due diligence and agree
the final terms of the deal, the Telegraph states.

The site was placed into administration last year with Ernst &
Young after Lloyds Banking Group and Ireland's National Asset
Management Agency called in debt against the struggling Irish
developer, Real Estate Opportunities, which controlled the power
station, the Telegraph recounts.

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


BLUESTONE SECURITIES: S&P Affirms 'B-' Ratings on 4 Note Classes
----------------------------------------------------------------
Standard & Poor's Ratings Services took various credit rating
actions in Bluestone Securities PLC's series 2005-1, 2006-1, and
2007-1.

"Bluestone Securities' series 2005-1, 2006-1, and 2007-1 are
backed by mortgage pools of nonconforming first-ranking
residential mortgages in England, Wales, and Scotland. The loans
were originated by Platform Funding Ltd. in series 2005-1, by
Beacon Homeloans Ltd. and Amber Homeloans Ltd. in series 2006-1,
and by Beacon Homeloans in series 2007-1," S&P said.

"On Dec. 12, 2011, we placed on CreditWatch negative for criteria
reasons our ratings on all of the notes in these transactions
(excluding the series 2006-1 class D and E notes, and the series
2007-1 class Da and Db), following the application of our 2011
U.K. residential mortgage-backed securities (RMBS) criteria.
Additionally, on Feb. 7, 2012, we placed on CreditWatch negative
for counterparty reasons our ratings on the series 2005-1's class
A and B notes, series 2006-1's class A1 and A2 notes, and series
2007-1's class A2 and Az notes, following our Nov. 29, 2011
downgrade of Barclays Bank PLC (A+/Stable/A-1)--a counterparty in
each of the three transactions," S&P said.

"The rating actions resolve these CreditWatch negative
placements. They are based on the application of our 2011 U.K.
RMBS criteria using the latest data we have received (dated March
2012). Additionally, we have applied our 2010 counterparty
criteria, given our downgrade of Barclays Bank," S&P said.

"Our credit analysis results under these criteria show an
increase in the weighted-average loss severity (WALS) at each
rating level. The change in the WALS is mainly due to the
application of our market value decline assumptions, and has
resulted in an increase in the required credit coverage at each
rating level for each transaction," S&P said.

"Under our 2011 U.K. RMBS criteria, we model varying recession
timings, with the furthest recession timing starting at the end
of the third year. Our scenario in which the recession starts in
month 37 is the most stressful in our analysis. The results from
this scenario are the main factor in our rating decisions for
each transaction," S&P said.

                BLUESTONE SECURITIES' SERIES 2005-1

"Credit enhancement in this transaction continues to increase,
due to deleveraging and a fully funded and nonamortizing reserve
fund. The transaction is currently paying pro rata (all tranches
repaying at the same time, according to their proportion of the
total balance), as the pro rata conditions in the transaction
documents have been met. Severe arrears, at 8.5%, have decreased
from 15.7% since we reviewed the transaction in June 2011," S&P
said.

"Based on the outcome of our cash flow model, we have affirmed
and removed from CreditWatch negative our 'BBB (sf)' and 'BB
(sf)' ratings on the class C and D notes," S&P said.

"After the application of our 2011 U.K. RMBS criteria, the class
A and B notes pass our cash flow scenarios at higher rating
levels than those currently assigned. However, we do not consider
the bank account documentation to be in line with our 2010
counterparty criteria. Consequently, the highest rating that
these notes can achieve is equal to our issuer credit rating
(ICR) on the bank account and guaranteed investment contract
(GIC) provider--in this instance, Barclays Bank. As such, we have
lowered to 'A+ (sf)' from 'AA- (sf)' and removed from CreditWatch
negative our ratings on these classes of notes," S&P said.

               BLUESTONE SECURITIES' SERIES 2006-1

"Credit enhancement in this transaction continues to increase,
due to deleveraging and a fully funded and nonamortizing reserve
fund. The transaction is currently paying sequentially (one
tranche repaying at a time, starting with the most senior), as
the pro rata conditions in the transaction documents have not
been met. Severe arrears, at 17.6%, have remained relatively
stable since we reviewed the transaction in June 2011," S&P said.

"Based on the outcome of our cash flow model, we have raised to
'A (sf)' from 'BBB (sf)' and to 'BB (sf)' from 'B (sf)' and
removed from CreditWatch negative our ratings on the class B and
C notes, respectively, and affirmed our 'B- (sf)' ratings on the
class D and E notes," S&P said.

"After the application of our 2011 U.K. RMBS criteria, the class
A1 and A2 notes pass our cash flow scenarios at higher rating
levels than those currently assigned. However, we do not consider
the bank account documentation to be in line with our 2010
counterparty criteria. Consequently, the highest rating that
these notes can achieve is equal to our ICR on the bank account
and GIC provider--in this instance, Barclays Bank. As such, we
have lowered to 'A+ (sf)' from 'AA- (sf)' and removed from
CreditWatch negative our ratings on these classes of notes," S&P
said.

               BLUESTONE SECURITIES' SERIES 2007-1

"Credit enhancement in this transaction continues to increase,
due to deleveraging and a fully funded and nonamortizing reserve
fund. The transaction is currently paying sequentially, as the
pro rata conditions in the transaction documents have not been
met (aggregate losses, at 2.2%, have breached 1.5% documented
trigger after which sequential payments become permanent). Severe
arrears (90 or more days), at 18.15%, have remained relatively
stable since we reviewed the transaction in June 2011," S&P said.

"Based on the outcome of our cash flow model, we have raised to
'A (sf)' from 'BBB (sf)' and removed from CreditWatch negative
our rating on the class B notes, lowered to 'B (sf)' from 'BB
(sf)' and removed from CreditWatch negative our rating on the
class C notes, and affirmed our 'B- (sf)' ratings on the class Da
and Db notes," S&P said.

"After the application of our 2011 U.K. RMBS criteria, the class
A2 and Az notes pass our cash flow scenarios at higher rating
levels than those currently assigned. However, we do not consider
the bank account documentation to be in line with our 2010
counterparty criteria. Consequently, the highest rating that
these notes can achieve is equal to our ICR on the bank account
and GIC provider--in this instance, Barclays Bank. As such we
have lowered to 'A+ (sf)' from 'AA- (sf)' and removed from
CreditWatch negative our ratings on these classes of notes," S&P
said.

                        CREDIT STABILITY

"We also consider credit stability in our analysis, to determine
whether an issuer or security has a high likelihood of
experiencing adverse changes in its pool's credit quality under
moderate stress conditions. The scenarios that we considered did
not result in our ratings deteriorating below the maximum
projected deterioration that we would associate with each
relevant rating level, as outlined in our 2010 credit stability
criteria," 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

BLUESTONE SECURITIES PLC (SERIES 2005-01)
GBP108.05 Million Mortgage-Backed Floating-Rate Notes
Series 2005-01

Ratings Lowered and Removed From CreditWatch Negative

A               A+ (sf)               AA- (sf)/Watch Neg
B               A+ (sf)               AA- (sf)/Watch Neg

Ratings Affirmed and Removed From CreditWatch Negative

C               BBB (sf)              BBB (sf)/Watch Neg
D               BB (sf)               BB (sf)/Watch Neg

BLUESTONE SECURITIES PLC (SERIES 2006-01)
EUR164.6 Million and GBP109.98 Million Mortgage-Backed
Floating-Rate Notes Series 2006-01

Ratings Lowered and Removed From CreditWatch Negative

A1              A+ (sf)               AA- (sf)/Watch Neg
A2              A+ (sf)               AA- (sf)/Watch Neg

Ratings Raised and Removed From CreditWatch Negative

B               A (sf)                BBB (sf)/Watch Neg
C               BB (sf)               B (sf)/Watch Neg

Ratings Affirmed

D               B- (sf)
E               B- (sf)

BLUESTONE SECURITIES PLC (SERIES 2007-01)
GBP405.58 Million and EUR80.00 Million Mortgage-Backed
Floating-Rate Notes Series 2007-01

Ratings Lowered and Removed From CreditWatch Negative

A2              A+ (sf)               AA- (sf)/Watch Neg
Az              A+ (sf)               AA- (sf)/Watch Neg
C               B (sf)                BB (sf)/Watch Neg

Rating Raised and Removed From CreditWatch Negative

B               A (sf)                BBB (sf)/Watch Neg

Ratings Affirmed

Da              B- (sf)
Db              B- (sf)


CLINTON CARDS: Lakeshore Buys 400 Stores; 4,500 Jobs Saved
----------------------------------------------------------
BBC News reports that nearly 400 Clinton Cards stores have been
sold to a US greeting card company, saving 4,500 jobs.

BBC relates that administrators Zolfo Cooper said Lakeshore
Lending Limited, a subsidiary of card maker American Greetings,
has bought the Clinton Cards brand and assets.

Clinton Cards was placed into administration on May 9, BBC
recounts.  A week later, Zolfo Cooper announced that 350 out of a
total of 784 stores would close, including all of its Birthdays-
branded stores, BBC notes.

According to BBC, the administrators said that the closures were
expected to lead to the loss of 3,000 full or part-time jobs.

American Greetings, BBC says, used US$37 million of this secured
debt to bid for Clinton's remaining assets that Zolfo Cooper is
trying to sell, in what is called a "credit bid".

American Greetings is hoping that the remaining US$19 million it
is owed by Clinton's will be repaid once Zolfo has completed the
liquidation process, BBC discloses.  This could take six to 12
months, the report notes.

"The unsecured creditors are unlikely to get anything from the
liquidation," BBC quotes Patrick O'Brien, retail analyst with
Verdict Research as saying.

Clinton Cards is a UK card retailer.


EDWARDS HOLDCO: S&P Affirms 'B+' Corporate Credit Rating
--------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' long-term
corporate credit rating on U.K.-based Edwards Holdco Ltd. and
subsequently withdrew the rating. The outlook was stable before
the withdrawal.

"At the same time, we have assigned a 'B+' long-term corporate
credit rating to Edwards Group Ltd., the group's new holding
company. The outlook is stable," S&P said.

"We have also affirmed all issue ratings on the group's
outstanding debt. The recovery ratings are unchanged," S&P said.

"The rating actions follow the flotation of the group's new
holding company, Edwards Group Ltd., in May 2012. We anticipate a
moderate improvement in the group's credit metrics from the
proceeds of the IPO, which is likely to be more than offset,
however, by weaker revenue and margins trends over the coming
quarters in our base-case assessment," S&P said.

"Pro forma the application of GBP54 million of net proceeds from
the IPO for debt reduction, the group's gross debt-to-EBITDA
ratio, after our adjustments, stood at about 3.0x as of March 31,
2012. In our base-case scenario, we estimate a moderate revenue
decline of about 7% in 2012 and a reported EBITDA margin of 18%
(after restructuring costs), down from 20% in 2011. As a result,
we anticipate that leverage will likely increase to about 3.5x-
4.0x by year-end 2012, in line with our assumption of lower
EBITDA," S&P said.

"The revenue decline in our base case stems primarily from a
significant cyclical slowdown of revenues in Edwards' Emerging
Technologies segment in 2012, following the strong investment
activity of Edwards' customers over the past two years. The
segment's sales dropped by 73.5% year on year in the first
quarter of 2012, and we consequently expect significantly lower
revenues for this segment for the full year 2012. Nevertheless,
we forecast modest revenue growth in the Semiconductor segment
and relatively stable demand for Edwards' Services and General
Vacuum segments in 2012, the latter of which is more correlated
to GDP growth. In our view, lower restructuring costs and the
benefits of substantial streamlining over the past two years
could partly compensate for lower gross profits," S&P said.

"We understand that following the IPO, Edwards' private equity
sponsors hold about 84% of the company's common equity," S&P
said.

"The rating on Edwards continues to reflect our assessment of the
group's business risk profile as 'weak' and its financial risk
profile as 'aggressive'," S&P said.

"Our business risk profile assessment remains constrained by the
group's vulnerability to the highly cyclical semiconductor
equipment industry, intense competitive pressure, and technology
risks inherent to the high-precision manufacturing industry.
These constraints are partly offset by the group's leading
positions in global markets, significant intellectual property,
and broad product portfolio," S&P said.

"The financial risk profile is primarily constrained by the
group's still high gross debt and volatile credit measures, owing
to fluctuating revenues and margins. These weaknesses are partly
offset, in our view, by Edwards' long-term capital structure,
with no meaningful debt amortizations until 2016, and our
expectation of moderately positive free cash flow generation in
2012," S&P said.

"The stable outlook reflects our view that Edwards will generate
modestly positive FOCF over the next 12 months, supported by a
reduction in working capital requirements due to an anticipated
revenue decline. It also reflects our expectation that Edwards'
adjusted gross debt-to-EBITDA ratio is likely to remain between
3x and 4x," S&P said.

"A higher rating could be supported by a track record of
maintaining a conservative financial policy, including an
adjusted gross debt-to-EBITDA ratio of less than 3x and
generation of meaningful positive free operating cash flow (FOCF)
through the cycle. A more diverse revenue mix and less volatile
margins would also likely support ratings upside," S&P said.

"Although we don't currently expect it, ratings downside could
materialize if Edwards' credit measures or liquidity were to
deteriorate significantly from their current levels. Such a
scenario could result from large shareholder distributions, a
substantial industry downturn, or sizable acquisitions beyond its
existing footprint of products and services. In particular, we
would view negative FOCF generation of more than GBP30 million on
a 12-month basis as incommensurate with the current rating," S&P
said.


EUROMASTR 2007-IV: S&P Affirms 'B-' Rating on Class E Notes
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered and removed from
CreditWatch negative its credit ratings on the class A2 and B
notes in EuroMASTR PLC's series 2007-1V. "At the same time, we
affirmed and removed from CreditWatch negative our ratings on the
class C and D notes, and affirmed our rating on the class E
notes," S&P said.

"The rating actions follow our credit and cash flow analysis of
the most recent transaction information that we have received for
the transaction (as of March 2012). Our analysis reflects the
application of our U.K. RMBS criteria and 2012 counterparty
criteria," S&P said.

"On Dec. 12, 2011, we placed on CreditWatch negative our ratings
on the class A2, B, C, and D notes following the publication of
our U.K. RMBS criteria," S&P said.

                    CREDIT AND CASH FLOW ANALYSIS

"Credit enhancement for the class A2, B, C, and D notes has
increased since closing due to the deleveraging of the pool;
although, the credit enhancement for the class E notes has
decreased slightly because the reserve fund has been drawn. The
transaction is currently paying sequentially, as the documented
pro rata triggers have not yet been satisfied; (one of which
refers to the reserve fund which is not currently at its required
amount)," S&P said.

"Severe arrears (90-plus days) have remained relatively stable
since we previously reviewed the transaction (May 2011), albeit
among the highest level of comparable deals. We expect severe
arrears to remain at their current levels, or increase, due to
the downside risks for nonconforming borrowers. These risks
include inflation, weak economic growth, high unemployment, and
fiscal tightening," S&P said.

"In our analysis, our updated credit adjustments when applying
the U.K. RMBS criteria lead to a higher weighted-average
foreclosure frequency and a higher weighted-average loss
severity. Overall, these factors lead to an increase in the
required credit enhancement at each rating level, according to
our U.K. RMBS criteria," S&P said.

"We have affirmed and removed from CreditWatch negative our 'BBB
(sf)' rating on the class C notes and our 'B (sf)' rating on the
class D notes. This is because credit enhancement has risen
sufficiently to mitigate the increase in required credit coverage
at their current rating levels," S&P said.

"We have affirmed our 'B- (sf)' rating on the class E notes, as
we do not expect them to default within a year," S&P said.

                        Counterparties

"The liquidity facility documentation and the language in the
swap documentation do not comply with our 2012 counterparty
criteria," S&P said.

"We analyzed the transaction both with and without the benefit of
the liquidity facility provider. In situations where the notes
require the benefit of the facility, we capped the ratings on
those notes at the issuer credit rating on Danske Bank (A-
/Stable/A-2), the liquidity facility provider in this
transaction," S&P said.

"We have lowered to 'A- (sf)' and removed from CreditWatch
negative our ratings on the class A2 and B notes. These notes are
capped at this rating level due to the non-compliance of the
liquidity facility documentation," S&P said.

                       Credit Stability

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

EuroMASTR 2007-1 is backed by nonconforming U.K. residential
mortgages originated by Victoria Mortgage Funding Ltd.

             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                  Rating
               To                      From

EuroMASTR PLC
GBP200.75 Million Mortgage-Backed Floating-Rate Notes Series
2007-1V

Ratings Lowered and Removed From CreditWatch Negative

A2             A- (sf)                 A (sf)/Watch Neg
B              A- (sf)                 A (sf)/Watch Neg

Ratings Affirmed and Removed From CreditWatch Negative

C              BBB (sf)                BBB (sf)/Watch Neg
D              B (sf)                  B (sf)/Watch Neg

Rating Affirmed

E              B- (sf)                 B- (sf)


EUROMAX III: S&P Lowers Rating on Class B Notes to 'CCC-'
---------------------------------------------------------
Standard & Poor's Ratings Services lowered and removed from
CreditWatch negative its credit ratings on EUROMAX III MBS Ltd.'s
class A-1, A-2, and B notes.

"The rating actions follow our assessment of the transaction's
performance. We used data from the trustee report (dated April
10, 2012), our cash flow analysis, and took into account recent
transaction developments. We applied our 2010 counterparty
criteria, our cash flow criteria, and our CDO of ABS criteria,"
S&P said.

"On March 19, 2012, we placed on CreditWatch negative our ratings
on the class A-1, A-2, and B notes, following the application of
our criteria for CDOs of asset-backed securities (ABS)," S&P
said.

"From our analysis, we have observed that the class B par
coverage test is currently above its trigger level, and that the
portfolio credit quality has deteriorated since our previous
review of the transaction. We also observed an increase in the
proportion of defaulted assets (rated 'CC', 'C', 'SD' [selective
default], or 'D') since our previous review," S&P said.

"We have subjected the capital structure to our cash flow
analysis, based on the updated methodology and assumptions as
outlined by our CDO of ABS criteria to determine the break-even
default rate (BDR). We used the reported portfolio balance that
we considered to be performing (rated 'CCC' or above), the
principal cash balance, the current weighted-average spread, and
the weighted-average recovery rates that we considered to be
appropriate. We incorporated various cash flow stress scenarios
using various default patterns, levels, and timings for each
liability rating category, in conjunction with different interest
rate stress scenarios," S&P said.

"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 with its respective
BDR. Following the application of our CDO of ABS criteria, the
scenario default rates at each rating level significantly
increased. The assumed weighted-average recoveries at each rating
category simultaneously significantly dropped," S&P said.

"Taking into account our credit and cash flow analyses, we
consider the credit enhancement available to class A-1, A-2 and B
notes in this transaction to be commensurate with lower ratings
than we previously assigned. As a result of these developments,
we have lowered and removed from CreditWatch negative our ratings
on these classes of notes," S&P said.

"We have analyzed the counterparties' exposure to the transaction
and we have concluded that the ratings on the counterparties are
sufficient to support the assigned rating on all of the classes
of notes," S&P said.

EUROMAX III MBS Ltd. is a cash flow mezzanine structured finance
collateralized debt obligation (CDO) of a portfolio that consists
predominantly of mortgage-backed securities.

             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

EUROMAX III MBS Ltd.
EUR195.24 Million Asset-Backed Floating-Rate Notes

Ratings Lowered and Removed From CreditWatch Negative

A-1         BB+ (sf)            A- (sf)/Watch Neg
A-2         B (sf)              BBB- (sf)/Watch Neg
B           CCC- (sf)           B (sf)/Watch Neg


FIRST FLEXIBLE: S&P Lowers Rating on 2 Note Classes to 'BB-'
------------------------------------------------------------
Standard & Poor's Ratings Services lowered to 'BB- (sf)' from 'A
(sf)' its credit ratings on First Flexible No. 6 PLC's class M
notes. "We also affirmed and removed from CreditWatch negative
our 'AA- (sf)' ratings on the class A notes," S&P said.

"These rating actions follow the application of our 2011 U.K.
residential mortgage-backed securities (RMBS) criteria," S&P
said.

"First Flexible No. 6 is a U.K. RMBS transaction with collateral
consisting of a pool of first-ranking mortgages over freehold and
leasehold buy-to-let (98.67%) and owner-occupied properties
located in the U.K. In our opinion, the collateral pool has
exhibited stable performance, with total arrears currently at
0.22% (or 0.77% including loans with receiver of rents in place)
as of the most recent investor report for February 2012.
Cumulative losses are also low and currently stand at 0.14%," S&P
said.

"The build-up of credit enhancement, however, has been limited
due to the high percentage of interest-only loans (93.26%) and
the low interest and prepayment rate environment for buy-to-let
mortgages in the U.K. This has led to slower deleveraging of the
First Flexible No. 6 collateral," S&P said.

"Our credit and cash flow analysis of the transaction
incorporates our updated U.K. RMBS criteria. In this transaction,
our updated credit adjustments give rise to a higher weighted-
average foreclosure frequency and a higher weighted-average loss
severity--leading to an overall increase in the required credit
enhancement," S&P said.

"The class M notes, however, are not able to pass our updated
cash flow stresses at their current rating levels. The reserve
fund is amortizing and is not available to cure principal losses
throughout the life of the deal, but rather only at the final
interest payment date. There is insufficient excess spread to
mitigate the increase in required credit enhancement under our
U.K. RMBS criteria," S&P said.

"The affirmation of the class A notes reflects sufficient credit
enhancement to offset the increase in required credit
enhancement. The class A notes were able to pass our updated cash
flow stresses at higher ratings. However, as we do not view the
currency swap documentation to be in line with our current
counterparty criteria, the ratings on the transaction are capped
by the issuer credit rating on J.P. Morgan Chase Bank N.A.
(A+/Negative/A-1), plus one notch. After having breached its
documented trigger of 'A-1+', after the downgrade of J.P. Morgan
in November 2011, we have received confirmation from Paragon
Finance PLC that collateral is being posted on this swap," 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.

First Flexible No. 6 is a U.K. RMBS transaction that securitizes
buy-to-let mortgages originated by Mortgages Trust Ltd.

             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

First Flexible No. 6 PLC
EUR215 Million, GBP310 Million, US$75 Million Mortgage-Backed
Floating-Rate Notes

Class                     Rating
                 To                  From

RATINGS LOWERED

M1              BB- (sf)             A (sf)
M2              BB- (sf)             A (sf)

RATINGS AFFIRMED AND REMOVED FROM CREDITWATCH NEGATIVE

A1              AA- (sf)             AA- (sf)/Watch Neg
A2              AA- (sf)             AA- (sf)/Watch Neg
A3              AA- (sf)             AA- (sf)/Watch Neg


FIRST FLEXIBLE: S&P Lowers Ratings on Two Note Classes to 'B-'
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on the
class B and C notes issued by First Flexible (No. 7) PLC to 'B-
(sf)' from 'AA (sf)' and 'A (sf)', respectively. "At the same
time, we affirmed our 'AAA (sf)' rating on First Flexible (No.
7)'s class A notes. In addition, we removed all the ratings from
CreditWatch negative, where we placed them on Dec. 12, 2011," S&P
said.

"The rating actions follow the application of our 2011 U.K.
residential mortgage-backed securities (RMBS) criteria to First
Flexible (No. 7). Our updated credit adjustments give rise to a
higher weighted-average foreclosure frequency and a higher
weighted-average loss severity. This leads to an overall increase
in the required credit enhancement," S&P said.

"The lowering of our ratings on the class B and C notes reflects
that the notes are not able to pass our updated cash flow
stresses at their previous rating levels. This is due to the
insufficient credit enhancement levels for these notes, which are
unable to meet the minimum required credit enhancement levels
stipulated by our new criteria. Furthermore, 75% of the
collateral pool consists of standard variable rate loans, for
which we assume a zero margin under our criteria," S&P said.

"The affirmation of our rating on the class A notes reflects
sufficient credit enhancement to offset the increase in required
credit enhancement. Additionally, this class of notes benefits
from more support than the class B and C subordinated notes
because principal can be used to pay interest on the class A
notes," S&P said.

"In our opinion, the collateral pool has exhibited stable
performance recently, with 90+ day delinquencies currently at
5.24%, according to the most recent investor report for March
2012. Cumulative losses currently stand at 0.01%," 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.

First Flexible (No. 7) is a U.K. RMBS transaction that
securitizes mortgages originated by Mortgages Trust Ltd.

             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

First Flexible (No. 7) PLC
GBP268.6 Million Mortgage-Backed Floating-Rate Notes

Ratings Lowered and Removed From CreditWatch Negative

B           B- (sf)               AA (sf)/Watch Neg
C           B- (sf)               A (sf)/Watch Neg

Rating Affirmed and Removed From CreditWatch Negative

A           AAA (sf)              AAA (sf)/Watch Neg


FITT SIGNS: Bought Out Administration in "Pre-Pack" Deal
--------------------------------------------------------
Annabelle Dickson at EDP24 reports that Fitt Signs and Graphics
has been bought out of administration by its directors in a
so-called "pre-pack" deal.

Seventeen jobs at the Pitt Street sign company -- incorporated as
Fitt Signs Limited -- are thought to have been saved. The
company's assets and business were bought for GBP33,400 -- which
will be paid in installments over a 12-month period and the new
company, which is trading as normal, is called FSG Signs and
Graphics Ltd., EDP24 relates.

In total, there are about 22 unsecured creditors owed about
GBP336,000, including a GBP162,954 tax bill and GBP83,000 VAT
bill, EDP24 discloses.

But administrators said unsecured creditors, including HMRC, are
unlikely to get their money back, EDP24 notes.

The company appointed administrators on May 11, EDP24 says,
citing public documents at Companies House.  The moves comes
after the company struck a five-year company voluntary
arrangement (CVA) deal with its creditors in 2005 after suffering
losses, EDP24 states.  Administrator Andy Pear, of London-based
insolvency practitioners BM Advisory, said that the company had
been forced into administration as a result of bad debts, EDP24
relates.

Fitt Signs and Graphics is a Norwich-based sign making business.


FORTELUS: Opts to Liquidate Part of Flagship Fund
-------------------------------------------------
Sam Jones at The Financial Times reports that Fortelus, the
London-based hedge fund that made millions for clients by
correctly timing the collapsing share prices of the UK's banks in
2008, is liquidating part of its flagship fund following investor
pressure.

In a letter sent to clients on Thursday, a copy of which was seen
by the Financial Times, Fortelus said it was splitting its
US$1 billion main fund into ongoing and liquidating share classes
in order to meet redemption requests, the FT relates.

The FT notes that while the Fortelus portfolio has performed
moderately well this year, and is up 1.4%, the manager has been
bloodied by a number of missteps in recent months, including a
US$90 million investment in Arcapita, a sharia-compliant Bahrain-
based bank which filed for bankruptcy in March.

According to the FT, Tim Babich, Fortelus founder and chief
executive, said in the client letter, that all the fund's
investors are being offered a "one-time" option to elect to
redeem their investments ahead of an extraordinary meeting to be
held on June 25.

Investors who do so will receive 75% of their holdings this year,
the FT discloses.  The remaining 25% will be allocated to them
from a portfolio of "not readily realizable" holdings which will
be sold over time, the FT notes.  Those who elect to remain in
Fortelus' funds will also see a quarter of their holdings
transferred into the liquidating portfolio, the FT says.


PARAGON SECURED: S&P Downgrades Rating on Class C Notes to 'B'
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered and removed from
CreditWatch negative its ratings on Paragon Secured Finance (No.
1) PLC's class A, B, and C residential mortgage-backed securities
(RMBS) notes.

"On Dec. 12, 2011, we placed on CreditWatch negative our ratings
on all classes of notes in the transaction following the
application of our 2011 U.K. RMBS criteria," S&P said.

"The rating actions follow our credit and cash flow analysis of
the most recent transaction information that we have received
(February 2012). Our analysis reflects the application of our
December 2011 U.K. RMBS criteria," S&P said.

                 CREDIT AND CASH FLOW ANALYSIS

"The available credit enhancement for all classes of notes has
more than doubled since closing, due to the deleveraging of the
pool. The transaction is currently paying pro rata, as all of the
documented pro rata triggers have been satisfied, although the
90+ day arrears documented trigger of 10.00% is currently 0.15%
from being breached. We have considered the possibility of the
transaction paying sequentially, taking into account long-term
trends in the 90+ day arrears bucket, and we incorporated this in
our cash flow analysis. The reserve fund remains fully funded and
the transaction is generating excess spread," S&P said.

"Delinquencies of 90+ days have increased slightly since our last
review, to 9.85% from 9.15%. Overall delinquencies remain
slightly above the level of those that we have observed in
transactions with a similarly large proportion of second-lien
loans, but low compared with our nonconforming U.K. RMBS index.
The transaction writes off 360+ day delinquencies, reducing the
level of severe arrears," S&P said.

"In our analysis, our updated credit adjustments have led to a
higher weighted-average foreclosure frequency due to the lack of
seasoning credit given to the loans in the pool that are less
than 60 months seasoned. They have also led to a higher weighted-
average loss severity due to an increase in our market value
decline assumptions. This is particularly notable in this
transaction, given that the majority of the pool comprises
second-lien mortgages. Overall, these factors have led to an
increase in the required credit enhancement at each rating level,
as per our U.K. RMBS criteria," S&P said.

               COUNTERPARTY CRITERIA APPLICATION

"We consider that there is collection account risk in the
transaction due to the lack of replacement language in the
documentation, and the documentation thus not being compliant
with our 2012 counterparty criteria. For this reason, we have
applied a credit loss for those classes of notes that we rate
above the level of the issuer credit rating on the collection
account provider (National Westminster Bank PLC [NatWest];
A/Stable/A-1)," S&P said.

                         CREDIT STABILITY

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

                           RATING ACTIONS

"We have lowered to 'AA+ (sf)' and removed from CreditWatch
negative our rating on the class A notes following our cash flow
analysis and the application of our 2012 counterparty criteria.
The level of credit enhancement for this class of notes has not
increased sufficiently to mitigate the increase in required
credit coverage at the current rating level," S&P said.

"We have also lowered and removed from CreditWatch negative our
ratings on the class B and C notes. As above, the level of credit
enhancement on these notes has increased, although not to a
sufficient degree to offset the increase in the required credit
coverage. This increase in credit coverage is driven largely by a
significant increase in the weighted-average loss severity due to
the volume of second-lien loans in the pool," S&P said.

Paragon Secured Finance (No. 1) is backed by a pool of second-
ranking U.K. mortgages. Paragon Personal Finance Ltd. originated
the collateral.

             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

Paragon Secured Finance (No. 1) PLC
GBP300 Million Asset-Backed Floating-Rate Notes

Ratings Lowered and Removed From CreditWatch Negative

A          AA+ (sf)               AAA (sf)/Watch Neg
B          BBB- (sf)              A (sf)/Watch Neg
C          B (sf)                 BBB- (sf)/Watch Neg


RANGERS FOOTBALL: Charles Green Won't Sell Ibrox & Murray Park
--------------------------------------------------------------
The Telegraph reports that the Rangers Fans Fighting Fund said
Charles Green's plans for Rangers do not include the sale and
leaseback of Ibrox and Murray Park.

The former Sheffield United chief executive's prospective
ownership consortium has pledged GBP8.5 million for creditors who
will be able to vote on a Company Voluntary Arrangement (CVA)
next week, the Telegraph discloses.

According to the Telegraph, representatives of the RFFF had a
three-hour meeting with Green at Ibrox on Wednesday, where a wide
range of issues concerning the consortium's proposal were
discussed.

One newspaper report on Thursday claimed Mr. Green's consortium
were prepared to consider all options to protect their investment
--  including sale and leaseback of the club's Govan stadium and
training complex in Auchenhowie, the Telegraph notes.

Yahoo!Eurosport reports that Rangers director Dave King is urging
creditors to reject Mr. Green's company voluntary arrangement
when they meet on June 14.

Mr. King has also called on the club's supporters not to renew
their season tickets until Mr. Green's consortium details its
plans, Yahoo!Eurosport reports relates.

Mr. King argues that the CVA should be rejected by creditors
because, in his view, Mr. Green's consortium has not provided
enough information about how it would fund the acquisition of the
club or invest in it in the future, Yahoo!Eurosport discloses.

                   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.


RANGERS FOOTBALL: HMRC Lines Up Liquidators if CVA Fails
--------------------------------------------------------
Mike Farrell at STV News reports that HM Revenue and Customs have
arranged for liquidators to be appointed at Rangers should
administrators fail to rescue the club.

It was revealed on Thursday that the tax authorities agreed the
plan with current administrators Duff and Phelps, STV relates.

Insolvency firm BDO have been lined up by HMRC should the current
attempts to get the Ibrox club out of administration fail and
they are put into liquidation, STV discloses.

On Thursday the administrators released the proposals approved by
creditors, which originally asked them to rubber-stamp the
appointment of Duff and Phelps as liquidators of Rangers should a
proposed company voluntary arrangement (CVA) fail, STV recounts.

The result of the creditors vote in April has also given the
administrators power to "conclude a sale of the whole, or part of
the business, property or assets of the company" without needing
creditors permission, should the proposed CVA be successful, STV
notes.

Now, should the CVA proposal funded by an GBP8.5 million loan
from the Sevco consortium led by Charles Green fail to receive
the backing of creditors, the neutral insolvency firm would be
called in, STV states.

This would be in the case of the compulsory court-ordered winding
up of the crisis-hit club, or if a creditors voluntary
liquidation (CVL) took place as part of a 'newco' switch, STV
says.

According to the documents released, in the event of the CVA
failing, the consortium is "contractually obliged" to pay GBP5.5
million for the "business and assets" of Rangers, which would be
transferred to a completely different business entity, before the
existing one is liquidated, STV discloses.

The details of the newco deal are "confidential" and it is
unclear whether the money to fund it would also take the form of
a loan with interest, STV notes.

                   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.


RESIDENTIAL MORTGAGE: S&P Cuts Rating on Class B2 Notes to 'B-'
---------------------------------------------------------------
Standard & Poor's Ratings Services took various credit rating
actions on Residential Mortgage Securities 20 PLC (RMS 20) and
Residential Mortgage Securities 22 PLC's (RMS 22) U.K.
nonconforming residential mortgage-backed securities (RMBS)
notes.

"Our analysis reflects the application of our 2011 U.K. RMBS
criteria," S&P said.

"On Dec. 12, 2011, we placed on CreditWatch negative our ratings
on all classes of notes that were rated higher than 'B- (sf)' in
both RMS 20 and RMS 22, following the application of our 2011
U.K. RMBS criteria," S&P said.

"The amortization of the pool has increased available credit
enhancement for all rating levels in both transactions. Each
transaction is currently paying sequentially, since 90+ day
delinquencies are greater than the documented pro rata trigger of
22.5%. We have considered the possibility the transactions paying
pro rata, taking into account historical arrears movements, and
incorporated this in our cash flow analysis," S&P said.

"In both transactions, our updated credit adjustments give rise
to higher weighted-average foreclosure frequencies and weighted-
average loss severities at each rating level, leading to an
overall increase in the required credit enhancement," S&P said.

                     CREDIT AND CASH FLOW ANALYSIS

"In RMS 20, total delinquencies have decreased over the past year
to 44.42% from 44.95%, although they remain high compared with
similar transactions. The reserve fund remains at its required
amount, and is non-amortizing due to a breach of the documented
cumulative loss trigger of 1.25%," S&P said.

"In RMS 22, total delinquencies have increased slightly over the
past year to 41.06% from 40.91%. Although arrears are high, they
are still lower than earlier RMS transactions (such as RMS 19,
20, and 21). The reserve fund remains at its documented required
amount, and is non-amortizing due to a breach of the cumulative
loss trigger of 1.25%. Both transactions are generating excess
spread," S&P said.

                APPLICATION OF COUNTERPARTY CRITERIA

"The currency swap documentation in the transactions does not
comply with our 2010 counterparty criteria. However, because
Barclays Bank PLC (A+/Stable/A-1) in its role as currency swap
counterparty is posting collateral in line with our criteria, the
highest potential rating that the notes can achieve is equal to
the issuer credit rating (ICR) on the swap counterparty plus one
notch," S&P said.

"The bank accounts have a documented trigger of 'A-1+'. Barclays
Bank has advised that it intends to amend this trigger. Should
the documentation not be amended to ensure an effective
replacement framework, our ratings on all of the classes of notes
will be capped at the ICR on Barclays Bank. As a result, our
ratings on the class A2 and M1 notes in RMS 20 and the class A3
and M1 notes in RMS 22 remain on CreditWatch negative," S&P said.

                        RATING ACTIONS

"We have affirmed our 'AA- (sf)' ratings on RMS 20's class A2 and
M1 notes, and on RMS 22's class A3 and M1 notes. Our ratings on
these notes are no longer on CreditWatch negative due to the
application of our 2011 U.K. RMBS criteria, but remain on
CreditWatch for counterparty related reasons," S&P said.

"We have affirmed and removed from CreditWatch negative our 'A+
(sf)' ratings on RMS 20's class M2 notes because the increase in
the available credit enhancement is sufficient to mitigate the
increase in the required credit coverage at the current rating
level," S&P said.

"We have lowered to 'BB+ (sf)' and removed from CreditWatch
negative our ratings on RMS 20's class B1 notes due to the
results of our cash flow analysis as the level of credit
enhancement has not risen sufficiently to offset the increase in
required credit coverage," S&P said.

"We have raised to 'A+ (sf)' and removed from CreditWatch
negative our ratings on RMS 22's class M2 notes because the class
M2 notes pass our cash flow analysis at a higher rating level. At
the same time, we affirmed and removed from CreditWatch negative
our 'BBB (sf)' ratings on the class B1 notes as the increase in
credit enhancement has risen sufficiently to mitigate the
increase in required credit coverage at the current rating
level," S&P said.

"We have lowered to 'B- (sf)' and removed from CreditWatch
negative our rating on RMS 22's B2 notes due to the results of
our cash flow analysis. We have not lowered our ratings further
because we do not expect this tranche to default over the next 12
months, in our opinion," S&P said.

"RMS 20 and RMS 22 are U.K nonconforming RMBS transactions
originated by Kensington Mortgage Co. Ltd. (RMS 20) and various
subsidiaries of the Kensington Group PLC (RMS 22)," S&P said.

                        CREDIT STABILITY

"According to our credit stability analysis, the maximum
projected deterioration 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.

             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

Residential Mortgages Securities 20 PLC
EUR637.05 Million, GBP329.85 Million, and US$150.4 Million
Mortgage-Backed Floating-Rate Notes

RATINGS AFFIRMED AND REMAINING ON CREDITWATCH NEGATIVE[1]

A2a         AA- (sf)/Watch Neg              AA- (sf)/Watch Neg
A2c         AA- (sf)/Watch Neg              AA- (sf)/Watch Neg
M1a         AA- (sf)/Watch Neg              AA- (sf)/Watch Neg
M1c         AA- (sf)/Watch Neg              AA-(sf)/Watch Neg

RATINGS AFFIRMED AND REMOVED FROM CREDITWATCH NEGATIVE

M2a         A+ (sf)                         A+ (sf)/Watch Neg
M2c         A+ (sf)                         A+ (sf)/Watch Neg

RATINGS LOWERED AND REMOVED FROM CREDITWATCH NEGATIVE

B1a         BB+ (sf)                        BBB (sf)/Watch Neg
B1c         BB+ (sf)                        BBB (sf)/Watch Neg

Residential Mortgages Securities 22 PLC
EUR336.1 Million, GBP392.9 Million, and US$320 Million Mortgage-
Backed Floating-Rate Notes

RATINGS AFFIRMED AND REMAINING ON CREDITWATCH NEGATIVE[1]

A3a         AA- (sf)/Watch Neg              AA- (sf)/Watch Neg
A3c         AA- (sf)/Watch Neg              AA- (sf)/Watch Neg
M1a         AA- (sf)/Watch Neg              AA- (sf)/Watch Neg
M1c         AA- (sf)/Watch Neg              AA- (sf)/Watch Neg

RATINGS RAISED AND REMOVED FROM CREDITWATCH NEGATIVE

M2a         A+ (sf)                         A (sf)/Watch Neg
M2c         A+ (sf)                         A (sf)/Watch Neg

RATINGS AFFIRMED AND REMOVED FROM CREDITWATCH NEGATIVE

B1a         BBB (sf)                        BBB (sf)/Watch Neg
B1c         BBB (sf)                        BBB (sf)/Watch Neg

RATING LOWERED AND REMOVED FROM CREDITWATCH NEGATIVE

B2          B- (sf)                         BB (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.


RESIDENTIAL MORTGAGE 25: S&P Cuts Rating on Class B3-Dfrd to 'B-'
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered and removed from
CreditWatch negative its credit ratings on Residential Mortgage
Securities 25 PLC's class M2-Dfrd, B2-Dfrd, and B3-Dfrd notes.
"At the same time, we affirmed and removed from CreditWatch
negative our ratings on the class A1, A2, M1-Dfrd, and B1-Dfrd
notes," S&P said.

"On Dec. 12, 2011, we placed on CreditWatch negative our ratings
on all of the outstanding notes in this transaction, following
the publication of our U.K. residential mortgage-backed
securities (RMBS) criteria," S&P said.

"The rating actions resolve these CreditWatch negative
placements. They follow our credit and cash flow analysis of the
most recent transaction information that we have received (dated
February 2012), applying our 2011 U.K. RMBS criteria," S&P said.

"In line with these criteria, we have based our analysis on the
original loan-to-value (LTV) ratios of the collateral, which has
positively affected our calculation of the weighted-average
foreclosure frequency (WAFF) in the pool. However, this is
counteracted by the increase in our weighted-average loss
severity (WALS), due to the application of our updated market
value declines assumptions," S&P said.

"The level of credit enhancement continues to increase across all
classes of notes because: the liabilities continue to pay
sequentially, the reserve fund is not amortizing at present, and
the level of excess spread continues to increase," S&P said.

"In our cash flow analysis, we have applied various stresses, to
account for any potential interest rate exposure that may arise
during the life of the transaction. We have applied a basis risk
haircut to account for the timing mismatch that arises between
the interest rates on the notes, resetting quarterly, and the
interest rates on the three-month LIBOR-linked loans, resetting
monthly. We have also stressed for the basis risk that arises
from the assets that pay interest on the one-month Bank of
England base rate, and have given no benefit to the margin on
standard variable-rate loans," S&P said.

"The class M1-Dfrd, M2-Dfrd, B1-Dfrd, B2-Dfrd, and B3-Dfrd notes
are deferrable-interest notes. As such, we rate them based on the
ultimate payment of principal and interest. Under our updated
methodology and assumptions, we do not consider the credit
enhancement levels available to the class M2-Dfrd, B2-Dfrd, and
B3-Dfrd notes to be commensurate with our previous ratings.
Therefore, we have lowered and removed from CreditWatch negative
our ratings on these classes of notes. We have differentiated
between our ratings on the class B2-Dfrd and B3-Dfrd notes, in
line with the level of credit enhancement available to them," S&P
said.

"Based on the transaction's current performance and credit
enhancement levels, we have affirmed and removed from CreditWatch
negative our ratings on the class A1, A2, M1-Dfrd, and B1-Dfrd
notes," 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 is in line with our 2010 credit
stability criteria," S&P said.

"Residential Mortgage Securities 25 closed in October 2010. It is
backed by a pool of first-ranking, nonconforming, buy-to-let, and
prime residential mortgage loans secured over properties in
England, Scotland, and Wales. The loans were originated by GMAC
Residential Funding Co. LLC, Kensington Mortgage GroupCo Ltd.,
and Money Partners Ltd.," 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

Residential Mortgage Securities 25 PLC
GBP195.1 Million Mortgage-Backed Floating-Rate Notes

Ratings Lowered and Removed From CreditWatch Negative

M2-Dfrd        A (sf)        A+ (sf)/Watch Neg
B2-Dfrd        B (sf)        BB (sf)/Watch Neg
B3-Dfrd        B- (sf)       BB- (sf)/Watch Neg

Ratings Affirmed and Removed From CreditWatch Negative

A1             AAA (sf)      AAA (sf)/Watch Neg
A2             AAA (sf)      AAA (sf)/Watch Neg
M1-Dfrd        AA (sf)       AA (sf)/Watch Neg
B1-Dfrd        BBB (sf)      BBB (sf)/Watch Neg


RMAC 2005-NSP2: S&P Cuts Ratings on Two Note Classes to 'B-'
------------------------------------------------------------
Standard & Poor's Ratings Services took various credit rating
actions on RMAC 2005-NSP2 PLC's notes.

"The rating actions follow the application of our U.K.
residential mortgage-backed securities (RMBS) criteria published
in December 2011. Following the publication of those criteria, we
placed our ratings all notes in this transaction on CreditWatch
negative," S&P said.

"In our opinion, the collateral pool for this transaction has
exhibited stable performance. 90+ day delinquencies (excluding
repossessions) are trending flat at 19.18%. Cumulative losses
currently stand at 0.79%," S&P said.

"The application of our 2011 U.K. RMBS criteria has resulted in a
lower weighted-average foreclosure frequency, but a higher
weighted-average loss severity for this transaction. This has led
to overall increases in the level of credit coverage required at
each rating level for each transaction," S&P said.

"We have affirmed and removed from CreditWatch negative our 'A+
(sf)' ratings on the class A2a, A2b, and A2c notes, based on the
cash flow output and in line with our updated U.K. RMBS credit
and cash flow criteria," S&P said.

"The increased credit enhancement levels for the class M1a, M1c,
M2a, M2c, B1a, and B1C notes have not been sufficient to mitigate
the increases in required credit coverage. Consequently, upon
application of our updated cash flow stresses, these notes were
unable to achieve ratings commensurate with their previous rating
levels. We have therefore lowered and removed from CreditWatch
negative our ratings on these classes of notes," S&P said.

"The class A2a, A2b, and A2c notes are able to pass our updated
cash flow stresses at higher rating levels. However, we do not
consider documentation of the account bank, liquidity facility
provider, or currency swap provider to be compliant with our
counterparty criteria. Consequently, the ratings in this
transaction are capped by the issuer credit rating (ICR) on
Barclays Bank (A+/Stable/A-1), as the account bank and liquidity
facility provider, and by the ICR on the Royal Bank of Scotland
(A/Stable/A-1), plus one notch," 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, is in line with our Credit Stability
Criteria," 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

RMAC 2005-NSP2 PLC
EUR466 Million, GBP353 Million, and US$780 Million Multi-Currency
Mortgage-Backed Floating-Rate Notes

Ratings Affirmed and Removed From CreditWatch Negative

A2a           A+ (sf)             A+ (sf)/Watch Neg
A2b           A+ (sf)             A+ (sf)/Watch Neg
A2c           A+ (sf)             A+ (sf)/Watch Neg

Ratings Lowered and Removed From CreditWatch Negative

M1a           BBB+ (sf)           A+ (sf)/Watch Neg
M1c           BBB+ (sf)           A+ (sf)/Watch Neg
M2a           BB+ (sf)            BBB (sf)/Watch Neg
M2c           BB+ (sf)            BBB (sf)/Watch Neg
B1a           B- (sf)             BB (sf)/Watch Neg
B1c           B- (sf)             BB (sf)/Watch Neg


SOUTHERN PACIFIC: S&P Cuts Rating on Two Note Classes to 'B-'
-------------------------------------------------------------
Standard & Poor's Ratings Services has taken various credit
rating actions in Southern Pacific Financing 04-A PLC (SPF 04-A),
Southern Pacific Financing 05-B PLC (SPF 05-B), and Southern
Pacific Financing 06-A PLC (SPF 06-A).

In SPF 04-A, S&P has:

  - Kept on CreditWatch negative its ratings on the class A, B,
    and C notes; and

  - Lowered and removed from CreditWatch negative its ratings on
    the class D and E notes.

In SPF 05-B, S&P has:

  - Kept on CreditWatch negative its ratings on the class A and B
    notes;

  - Affirmed and removed from CreditWatch negative its rating on
    the class C notes; and

  - Lowered and removed from CreditWatch negative its ratings on
    the class D and E notes.

In SPF 06-A, S&P has:

  - Lowered and kept on CreditWatch negative its rating on the
    class A notes;

  - Lowered and removed from CreditWatch negative its ratings on
    the class B, C, D1, and E notes.

"For counterparty reasons, on May 2, 2012, we kept our ratings on
SPF 04-A's class A to D notes, SPF 05-B's class A and B notes,
and SPF 06-A's class A and B notes on CreditWatch negative. We
had previously placed these ratings, and all of the others in the
transaction, on CreditWatch negative for credit and cash flow
reasons (on Dec. 12, 2011). 's rating actions resolve our
CreditWatch negative placements for credit and cash flow reasons,
but some of our ratings in this transaction remain on CreditWatch
negative for counterparty reasons," S&P said.

"They follow our credit and cash flow analysis of the most recent
transaction information that we have received (dated February
2012), applying our 2011 U.K. residential mortgage-backed
securities (RMBS) criteria and our 2010 counterparty criteria,"
S&P said.

"The application of our 2011 U.K. RMBS criteria has resulted in
increased credit enhancement levels expected for the notes to
achieve each rating level. The downgrades have mainly resulted
from our application of the updated methodology and assumptions
in these criteria. The affirmation reflects our view that SPF 05-
B's class C notes meet the expected credit enhancement level,"
S&P said.

"In the past two years, the total arrears performance has
improved for all three transactions. Total arrears levels peaked
in March 2009, and then declined until the end of 2011. Arrears
started to increase again in September 2011 for SPF 04-A, and in
March 2012 for SPF 05-B and SPF 06-A," S&P said.

"While the each pools' characteristics has remained similar since
closing, they have continued to deleverage and the weighted-
average current loan-to-value ratios have decreased," S&P said.

"SPF 04-A has had zero excess spread for 24 months--caused by
losses, large senior fees (including a nonamortizing liquidity
facility, which currently has a standby drawing), and an
increasing weighted-average cost of funds. The reserve fund has
remained drawn by a small amount each quarter. After losses
caused a severe reduction in excess spread levels in 2009, these
have stabilized, albeit at lower levels, for SPF 05-B and SPF 06-
A in the past 12 to 18 months. SPF 05-B had to make drawings on
the reserve fund during the same 2009 period, to cover parts of
these losses, but the reserve fund has been fully funded since
September 2010. On the other hand, SPF 06-A's reserve fund has
never been drawn," S&P said.

"The liquidity facility for each of these transactions has had a
standby drawing for the full limit amount (SPF 04-A in December
2011, SPF 05-B in March 2009, and SPF 06-A in March 2009). The
liquidity amortization conditions in the transaction documents
are currently not satisfied for any of the three transactions.
Therefore, the liquidity facilities are not amortizing. This is
due to the high cumulative losses in SPF 05-A and SPF 06-A, and
due to the high 90+ day arrears in SPF 04-A," S&P said.

"Following the rating actions, none of our ratings in these
transactions is on CreditWatch negative for credit and cash flow
reasons. However, some of our ratings remain on CreditWatch
negative for counterparty reasons, following our May 2, 2012
update," S&P said.

"The current transaction documents require an 'A-1+' short-term
rating for a bank account provider. Upon the Nov. 29, 2011
downgrade of Barclays Bank PLC (A+/Stable/A-1) below this level,
remedial action under the transaction documents was required
within a prescribed timeframe. We understand that discussions
have occurred to take such action but, to date, there has been no
remedy. In such circumstances, absent a replacement framework in
the transaction documents that is consistent with our 2010
counterparty criteria, the maximum achievable rating on the notes
in these transactions would be 'A+'--equal to our current long-
term rating on the bank account provider," S&P said.

"Therefore, our ratings on SPF 04-A's class A to C notes, SPF 05-
B's class A and B notes, and SPF 06-A's class A notes remain on
CreditWatch negative for counterparty reasons. We aim to resolve
the CreditWatch negative status of these tranches upon receipt
and review of any proposed remedial action; and in any case,
within three months of our May 2, 2012 update, when we first kept
these notes on CreditWatch negative for counterparty reasons,"
S&P said.

"Our rating on SPF 04-A's class D notes is no longer on
CreditWatch negative because, following 's rating action, we rate
this class of notes below the maximum achievable rating on the
notes in this transaction," 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 2010 credit
stability criteria," S&P said.

"SPF 04-A, SPF 05-B, SPF and 06-A are U.K. nonconforming RMBS
transactions originated by Southern Pacific Mortgage Ltd.," 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

Southern Pacific Financing 04-A PLC
GBP350 Million Mortgage-Backed Floating-Rate Notes

Ratings Remaining on CreditWatch Negative[1]

A            AA- (sf)/Watch Neg
B            AA- (sf)/Watch Neg
C            AA- (sf)/Watch Neg

Ratings Lowered and Removed From CreditWatch Negative

D            A- (sf)                     AA- (sf)/Watch Neg
E            B (sf)                      BBB (sf)/Watch Neg

Southern Pacific Financing 05-B PLC
GBP480 Million Mortgage-Backed Floating-Rate Notes

Ratings Remaining on CreditWatch Negative[1]

A            AA- (sf)/Watch Neg
B            AA- (sf)/Watch Neg

Rating Affirmed and Removed From CreditWatch Negative

C            A (sf)                      A (sf)/Watch Neg

Ratings Lowered and Removed From CreditWatch Negative

D            BB- (sf)                    BBB (sf)/Watch Neg
E            B- (sf)                     BB (sf)/Watch Neg

Southern Pacific Financing 06-A PLC
GBP423.36 Million Mortgage-Backed Floating-Rate Notes Plus
an Over-Issuance of Mortgage-Backed Floating-Rate Notes

Rating Lowered and Remaining on CreditWatch Negative[1]

A            AA+ (sf)/Watch Neg          AAA (sf)/Watch Neg

Ratings Lowered and Removed From CreditWatch Negative

B            A (sf)                      AA (sf)/Watch Neg
C            BBB- (sf)                   A (sf)/Watch Neg
D1           B (sf)                      BBB (sf)/Watch Neg
E            B- (sf)                     B (sf)/Watch Neg

[1]These ratings are no longer on CreditWatch negative for credit
and cash flow reasons, but remain on CreditWatch negative for
counterparty reasons.


UROPA SECURITIES: S&P Affirms 'BB-' Rating on Class C Notes
------------------------------------------------------------
Standard & Poor's Ratings Services raised and removed from
CreditWatch negative its credit ratings on the class M2 and B
notes in Uropa Securities PLC's series 2008-1. "At the same time,
we affirmed and removed from CreditWatch negative our ratings on
the class A, M1, and C notes," S&P said.

"The rating actions reflect our credit and cash flow analysis of
the most recent transaction information that we have received.
Our analysis reflects the application of our December 2011 U.K.
residential mortgage-backed securities (RMBS) criteria," S&P
said.

"On Dec. 12, 2011, we placed on CreditWatch negative our ratings
on the class A, M1, M2, B, and C notes after implementing our
2011 U.K. RMBS criteria," S&P said. "In the past year,
delinquencies have decreased; the margins within the asset pool
have remained quite stable; credit enhancement has continued to
increase due to the deleveraging of the notes; and the liquidity
reserve fund is at the required level."

"After applying our December 2011 U.K. RMBS criteria, our credit
analysis results show a decrease in the weighted-average
foreclosure frequency for all rating levels since July 2011. The
weighted-average loss severity for all rating levels has
increased, due to the application of our updated market value
decline assumptions. The combined result is an increase in the
required credit coverage for all rating levels in the
transaction," S&P said.

"We have raised and removed from CreditWatch negative our ratings
on the class M2 and B notes to reflect the transaction's stable
performance and increased credit enhancement levels for these
notes since closing," S&P said.

"We have affirmed and removed from CreditWatch negative our
ratings on the class A, M1, and C notes after applying our
December 2011 U.K. RMBS criteria. These affirmations reflect the
transaction's stable 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.

Uropa Securities' series 2008-1 is backed by U.K. nonconforming
residential mortgages originated by GMAC-RFC Ltd., Kensington
Mortgage Co. Ltd., Money Partners Ltd., Edeus Mortgages Ltd., and
Platform Funding Ltd. (PFL).

            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

Uropa Securities PLC
GBP446.628 Million Mortgage-Backed Floating-Rate Notes Series
2008-1

RATINGS RAISED AND REMOVED FROM CREDITWATCH NEGATIVE

M2         A+ (sf)               A (sf)/Watch Neg
B          BBB+ (sf)             BBB (sf)/Watch Neg

RATINGS AFFIRMED AND REMOVED FROM CREDITWATCH NEGATIVE

A          AAA (sf)              AAA (sf)/Watch Neg
M1         AA (sf)               AA (sf)/Watch Neg
C          BB- (sf)              BB- (sf)/Watch Neg


WEST BROMWICH: Moody's Issues Summary Credit Opinion
----------------------------------------------------
Moody's Investors Service issued a summary credit opinion on West
Bromwich Building Society and includes certain regulatory
disclosures regarding its ratings. The release does not
constitute any change in Moody's ratings or rating rationale for
West Bromwich Building Society.

Moody's current ratings on West Bromwich Building Society are:

- Senior Unsecured (domestic currency) ratings of B2

- Senior Unsecured MTN Program (domestic currency) ratings of
   (P)B2

- Long Term Bank Deposits (domestic and foreign currency)
   ratings of B2

- Bank Financial Strength ratings of E+

- Subordinate (domestic currency) ratings of Ca

- Subordinate MTN Program (domestic currency) ratings of (P)Ca

- Junior Subordinate (domestic currency) ratings of Ca (hyb)

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

- Other Short Term (domestic currency) ratings of (P)NP

Rating Rationale

Moody's assigns a Bank Financial Strength Rating ("BFSR") of E+
with stable outlook to West Bromwich Building Society ("West
Brom"), which maps to a b2 on Moody's long term scale. This BFSR
is one of the lowest among the peer group and reflects Moody's
assumption that the society's high degree of exposure to
commercial lending in particular and other specialist lending
areas could lead to large potential losses and a reduction in its
capital ratios. The society has posted net losses for the past
three consecutive years. However, Moody's notes that the PPDS
conversion which was completed in 2009 has improved West Brom's
loss absorption capacity. The rating also reflects West Brom's
established regional franchise and stable retail base.

The long-term deposit and short term rating of B2/Not Prime,
follow Moody's reassessment of extraordinary levels of systemic
support in the ratings of UK financial institutions concluded on
October 7, 2011.

Rating Outlook

Moody's considers that there are significant risks to West Brom's
financial fundamentals stemming from the society's existing loan
portfolio, particularly the commercial and BTL loans. However,
the PPDS transaction completed in 2009 has improved West Brom's
loss absorption capacity and the stable outlook on West Brom's
BFSR reflects the PPDS' mitigation of some of these pressures.

The outlook on the society's B2 long-term debt and deposit
ratings is stable.

What Could Change the Rating - Up

A return to profitability and sustainable business operation can
lead to upgrade pressure on the society's stand-alone rating. At
this stage, although Moody's notes some improvements in the
society's impairment charges and capital ratios, these are not
sufficient to consider its BFSR for an upgrade as the society
still remains loss-making with limited new lending capacity.

What Could Change the Rating - Down

The current BFSR rating is sufficiently low to incorporate some
degree of volatility in overall financial fundamentals. However,
in case of large losses and further pressure on capital, the
rating could come under downward pressure.

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.



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


* BOND PRICING: For the Week June 4 to June 8, 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 * * *