/raid1/www/Hosts/bankrupt/TCREUR_Public/021031.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

                 Thursday, October 31, 2002, Vol. 3, No. 216


                              Headlines

* B E L G I U M *

LVI HOLDING: Places Long-Term Credit Rating on CreditWatch

* F R A N C E *

FRANCE TELECOM: Revenues Up 9 Percent for Nine Months
VIVENDI UNIVERSAL: Turns Down Vodafone's Offer for Cegetel Share
VIVENDI UNIVERSAL: Faces Legal Suit on Accounting Irregularity
VIVENDI UNIVERSAL: Close to Selling U.S. Publishing Business
VIVENDI UNIVERSAL: Investors Push Cash Takeover for Canal Plus

* G E R M A N Y *

BAYER AG: Appoints Rolf Classon as Chairman of Bayer HealthCare
BAYER AG: Bayer CropScience to Sell A Range of Products to BASF
DEUTSCHE TELEKOM: T-Mobile Deutschland Launche Number Portability

* I R E L A N D *

GREEN PROPERTY: Issues Notice to Holders of GBP150 Million Bonds

* I T A L Y *

FIAT SPA: To Launch Recapitalization for Auto Unit This Year
TELECOM ITALIA: Finsiel Solutions for Major Organizations

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

ISPAT EUROPE: Ispat International Buys Back Class A Common Shares
ISPAT EUROPE: Moody's Ups Rating of Secured Notes Offering

* P O L A N D *

ELEKTRIM SA: TV-Tel Obtains Out-of-Court Settlement With Banks
ELEKTRIM SA: Issues Information on Tax Return

* S W I T Z E R L A N D *

SWISS LIFE: Regulator Launches Probe on Recalculations

* U N I T E D   K I N G D O M *

BALDWINS INDUSTRIAL: Panel Hires McClain & Leppert as Counsel
CORDIANT COMMUNICATIONS: Announces Notifiable Holdings
EQUITABLE LIFE: Action Group Demands Investigation in Two Weeks
KINGFISHER: Schedules Re-opening of Castorama Securities
KINGFISHER: FTSE Deletes Castorama Dubois in FTSE Indices
KINGFISHER: Castorama Dubois Leaves Euronext 100 Index
THE BIG FOOD: Aviva Sends Letter Regarding Issued Ordinary Shares
TXU EUROPE Limited: Company Profile


=============
B E L G I U M
=============


LVI HOLDING: Places Long-Term Credit Rating on CreditWatch
----------------------------------------------------------
Standard & Poor's Ratings Services placed its double-'B'-minus
long-term corporate credit rating on L.V.I. Holding N.V. on
CreditWatch with negative implications. L.V.I. is the holding
company for Carmeuse, the world's second-largest producer of lime
products.

The action follows the release of the Belgium-based Carmeuse
group's interim results, which posted weaker-than-expected cash
generation over the first six months of 2002. The move also
considered the group's cash flow restatement for 2001, which S&P
perceives as a "fragile reporting and accounting system".

The double-'B'-minus long-term senior secured debt rating on the
EUR250 million notes issued by Carmeuse Lime B.V., a wholly owned
guaranteed subsidiary of L.V.I. Holding, was also placed on
CreditWatch with negative implications.

The rating agency signed in to resolve the CreditWatch status
depending on: discussions with the company, reassessment of the
group's cash flow expectations, and identification of the sources
of reporting restatement.


===========
F R A N C E
===========


FRANCE TELECOM: Revenues Up 9 Percent for Nine Months
-----------------------------------------------------
On a pro forma basis and excluding the effects of exchange rates,
France Telecom's consolidated revenues increased 2.9 percent for
the nine months ended September 30, 2002.

- Orange consolidated its leadership in France and the United
Kingdom as ARPU trends were positive in both markets.  Orange
revenues contributed to France Telecom increased 12.5 percent on
a pro forma basis at the end of the third quarter.

- Wanadoo tripled the number of broadband subscribers in Europe
in one year (981,000 at end September) and recorded 29.8 percent
growth in revenues contributed to France Telecom on a pro forma
basis.

- France Telecom's share of the fixed-line market stabilized
(82.0 percent for local segment and 64.5 percent for long-
distance).

The decline in pro forma revenues contributed by Fixed-Line,
Voice and     Data Services - France was held to a decrease of 5
percent at the end     of the third quarter.

- The France Telecom group increased its customer base by nearly
10 percent on a pro forma basis, with 108.4 million customers at
September 30, 2002.

- Full-year 2002 outlook: revenues are expected to increase by 8
to 9 percent and EBITDA and operating income are expected to
increase by more than 15 percent.

France Telecom Consolidated Revenues

               Nine       Nine     % Change     Nine     % Change
              months    months                  months
              ended     ended                   ended
            Sept. 30,  Sept. 30,              Sept. 30,
(In millions   2002      2001     2002/2001     2001   2002/2001
    of euros)

           Historical  Historical    pro                   pro
                                    forma (*)           forma (*)


Total Revenues 34,443  31,599      + 9.0      33,463     + 2.9

    Revenues by
     product line:

     Orange:    12,233    10,793     + 13.3      10,871    + 12.5

     Of which:
        Orange
        France   5,273     4,757     + 10.8       4,757    + 10.8

       Orange U.K. 4,410     3,950     + 11.6       3,925    +
12.4

   Orange
   excluding
   France
      and U.K.     2,550     2,086     + 22.2       2,189    +
16.5

    Wanadoo:     1,350     1,025     + 31.7       1,040    + 29.8

    Of which:
     Access,
      portals
      and
     e-Commerce    719       414     + 73.7         433    + 66.1

    Directories    631       611      + 3.3         607     + 4.0

    Fixed-Line,
     Voice and
     Data Services
     - France   14,014    14,833      - 5.5      14,744     - 5.0

    Of which:
    Fixed-Line
    Telephony   10,314    11,097      - 7.1      11,078     - 6.9

     Business
     Services    2,239     2,198      + 1.9       2,215     + 1.1

     Broadcasting
     and cable
     television    801       783      + 2.3         783     + 2.3

     Other revenues660       755     - 12.6         668     - 1.2

    Fixed-Line,
    Voice and
    Data Services
- Outside France 6,846     4,948     + 38.4       6,808     + 0.6

    Of which:
    Equant       2,152     1,351     + 59.3       2,308     - 6.8

    Fixed-Line
    Telephony
    outside
    France       2,995     1,912     + 56.6       2,935     + 2.0

     Other
     revenues
     outside
     France      1,699     1,685      + 0.8       1,565     + 8.6

(*)Pro forma figures excluding the effects of exchange rates
France Telecom's consolidated revenues at September 30, 2002 were
34.4 billion euros, an increase of 9 percent over the year-
earlier period. France Telecom's customer base grew nearly 10
percent on a pro forma basis, reaching 108.4 million at September
30, 2002. Revenue growth reflected the rapid development of
international activities. Revenues from International activities
were up 26.6 percent, due in large part to the consolidation of
the Polish operator TP SA as of April 1, 2002. International
activities accounted for 40.9 percent of the France Telecom
Group's consolidated revenues for the first nine months of 2002,
compared with 35.8 percent in 2001.

On a pro forma basis and excluding the effects of exchange
rates(1), the France Telecom Group's consolidated revenues
increased 2.9 percent for the nine months ended September 30,
2002, compared with a 2.6-percent increase for the six months
ended June 30, 2002. This reflects 7.7-percent growth in revenues
from international activities (versus 7.2 percent at the end of
the first half June 2002), as well as steady growth in wireless
services in France, which offset the decline in revenues from
fixed-line telephony.

Orange: positive trends in ARPU in France and the U.K.

Orange revenues contributed to France Telecom totaled 12.2
billion euros at September 30, 2002, an increase of 12.5 percent
on a pro forma basis and excluding the effects of exchange rates.
Network revenues were 11.5 billion euros, up 15.4 percent.
Subsidiaries controlled by the Orange group had 43.2 million
customers at September 30, 2002, representing a year-to-year
increase of 12.6 percent as Orange added 4.8 million new
customers in one year. ARPU (average revenue per user) continued
to show positive trends during the third quarter in France and
the United Kingdom. Non-voice revenues were 1.2 million euros at
September 30, 2002, representing 10.5 percent of revenues.

Orange France continued to experience sustained growth, as
revenues grew 10.8 percent to 5.3 billion euros at September 30,
2002. Network revenues from France advanced 13.7 percent. Orange
France's customer base stood at 18.8 million at September 30,
2002, an increase of 13.2 percent. Orange France added net
972,000 new customers during the first nine months of the year,
further consolidating its leadership with a market share of 49.8
percent at end September, up from 49.3 percent at end June 2002
and 49 percent at end March 2002. Another positive trend was the
reduced rate of decline in ARPU that began in 2001. This rate was
halved at the end of September 2002, reaching -3.7 percent in one
year, compared to -8 percent for full-year 2001 and thus
progressively approaching stabilization.

Orange U.K. had revenues of 4.4 billion euros at September 30
2002 on a pro forma basis, up 12.4 percent compared to end
September 2001. Network revenues from the U.K. were up 18.3
percent at September 30, 2002. Orange U.K. had 13.1 million
customers at the end of September 2002, a year-to-year increase
of 7.2 percent. Orange U.K. acquired an additional 673,000
customers during the first nine months of 2002. ARPU increased
3.2 percent at September 30, 2002, compared with a 12.1-percent
decline for full-year 2001. As in France, this trend reflected a
refocusing on high value-added market segments.

Orange revenues excluding France and the U.K. increased 22.2
percent on a historical basis and 16.5 percent on a pro forma
basis for the first nine months of 2002. These activities
benefited from the transfer to Orange as of July 1, 2002 of the
71.25-percent share in MobiNil previously held by France Telecom.
The increase in revenues reflected sustained growth of 18.4
percent in the customer base, which reached 11.4 million at
September 30, 2002, up from 9.6 million a year earlier. This
increase was due primarily to operations in Europe (Belgium,
Switzerland, Slovakia and Denmark).

Wanadoo triples broadband customer base in Europe

Wanadoo revenues contributed to France Telecom were 1.4 billion
euros at September 30, 2002, an increase of 29.8 percent on a pro
forma basis. Wanadoo recorded rapid growth in its customer base
both in France and internationally. The Wanadoo group had 7.1
million customers at September 30, 2002, a year-to-year increase
of 33.4 percent. The customer base in France increased 40.1
percent to reach 3.6 million and rose 22.9 percent in the United
Kingdom to reach 2.6 million at end September 2002. Revenues from
Directories were up 4 percent, due in particular to a 13-percent
rise in revenues from online directories.

Mass-market Internet services (Internet Access, portals and e-
commerce) posted a 66.1-percent rise in revenues, due in part to
a tripling of the customer base for broadband Internet access in
Europe. This increase was also due to favorable changes in
product mix, with a significant increase in the share of paying
products, particularly offers generating the highest revenues
such as the Wanadoo Integrales offers and broadband offers, led
by Wanadoo ADSL services. The number of broadband subscribers in
Europe reached 981,000 at September 30, 2002, representing 14
percent of the active customer base in Europe. This compares with
363,000 at September 30, 2001 (7 percent of the active customer
base in Europe). Broadband solutions accounted for 45 percent of
the growth in the active customer base in Europe during the third
quarter 2002.

The promising growth of ADSL makes this technology a key growth
driver for Wanadoo. Broadband is becoming a mass market,
reflecting the fact that people are increasingly adopting the
Internet as part of their daily lives in France.

Fixed-Line, Voice and Data Services - France: decline in revenues
contained as share of local fixed-line market stabilizes in third
quarter

Revenues from Fixed-Line, Voice and Data Services in France
contributed to France Telecom decreased 5 percent at September
30, 2002 on a pro forma basis, following a decline of 5.2 percent
at June 30, 2002. This decrease was due mainly to standard fixed-
line telephony services, which saw a 6.9-percent decrease in
revenues on a pro forma basis at September 30, 2002, following a
decrease of 7.1 percent at June 30, 2002.

France Telecom's share of the local call market, which was
impacted in the first quarter of the year by the automatic
transfer of local traffic to competitors whose customers opted
for carrier pre-selection, had experienced a much less
unfavorable trend during the second quarter. This slowdown in
loss of market share was confirmed during the third quarter of
2002 : in September France Telecom's share of the local call
market was 82 percent, compared with 82.7 percent in June and 86
percent in March 2002.

France Telecom's share of the long-distance market (domestic and
international) remained nearly stable, standing at 64.5 percent
in September 2002, compared with 64.6 percent in December 2001.

France Telecom pursued multiple initiatives to develop customer
loyalty, including the launch of local and domestic long-distance
call packages (branded "Heures Locales" and "Heures France").
These offers met with tremendous success, signing up nearly 6.2
million customers at September 30, 2002. Other services to
consolidate customer loyalty and generate higher telephone
traffic levels have experienced strong growth, such as the Top
Message voicemail service, which tripled the number of customers
in 18 months to reach nearly 5 million at end September. The
total number of telephone lines remained stable at 34 million at
September 30, 2002.

Revenues from operator services (interconnection of domestic and
international operators) decreased 18.9 percent at September 30,
2002. This decline was partly due to lower prices in the 2002
interconnection catalogue and to the roll-out of networks by
competing operators. The decrease was also due to a decline in
revenues from international operators linked to a decrease in
telephone traffic carried for these operators, coupled with a
decrease in the rates for these services.

Revenues from online services and Internet access were down 2.7
percent on a pro forma basis for the nine months ended September
30, 2002. This decrease was due to a 12.8-percent decline in
revenues from conventional services (Minitel and Audiotel) and to
a 7.6-percent decline in revenues from dial-up Internet access
calls, reflecting the steady growth of "all-inclusive" ISP
service plans. However, this decline was partially offset by the
extremely robust growth of ADSL broadband Internet (+104.3
percent at September 30, 2002, excluding Wanadoo billings) due to
the rapid increase in the number of ADSL connections. The number
of ADSL lines (including Wanadoo ADSL accesses) more than tripled
to reach 881,000 at September 30, 2002, up from 267,000 at
September 30, 2001. The rate of sales of Wanadoo ADSL access
plans and ADSL lines accelerated in September, with 75,000 ADSL
units sold, 25,000 more than the monthly average since the
beginning of the year. The goal of 1.3 million ADSL lines
activated by year-end is maintained.

Revenues from business services increased modestly at end
September 2002, rising 1.1 percent on a pro forma basis. The
19.5-percent decrease in revenues from other domestic operators
was more than compensated by an 8.4-percent increase in revenues
from business network services. In particular, revenues from data
network services were up 16.1 percent, following full-year pro
forma growth of 11.5 percent in 2001. This steady growth was
generated by Internet and Intranet services (+24.3 percent for
the first nine months of 2002), which accounted for more than
half of total data network revenues at the end of the period.
Frame Relay services also continued to experience sustained
growth, with revenues up 10.1 percent at September 30, 2002. The
number of sites connected to high-speed services jumped 77.7
percent in one year.

These strong increases were partially offset by lower revenues
from conventional data services for corporate customers (leased
line services and X.25 packet switching).

Fixed-Line, Voice and Data Services - Outside France: strong
growth in revenues due to the consolidation of TP SA

On a historical basis, revenues from Fixed Line, Voice and Data
Services - Outside France recorded an increase of 38.4 percent
for the first nine months of 2002 versus the first nine months of
2001. This increase reflected the combined effects of several
changes in scope of consolidation, including the consolidation of
Equant as of July 1, 2001, the accounting for Telecom Argentina
using the equity method as of December 21, 2001 (previously
consolidated using the proportionate method) and the full
consolidation of TP Group (Polish operator TP SA and its
subsidiaries) as of April 1, 2002. On a pro forma basis and
excluding the effects of exchange rates, revenues contributed by
Fixed Line, Voice and Data Services - Outside France increased
0.6 percent in the first nine months of 2002.

Equant

The strong 59.3-percent rise in Equant's revenues on a historical
basis for the nine months ended September 30, 2002 versus the
year-earlier period reflected the consolidation of Equant and
Global One as of July 1, 2001. On a pro forma basis, revenues
contributed to the France Telecom group were 2.2 billion euros at
September 30, 2002, a decrease of 6.8 percent. Revenues from
Network Services, which accounted for more than half of Equant's
total revenues in the first nine months of 2002, advanced 1.9
percent on a pro forma basis.

This increase did not offset the 15.5-percent decline in
Integration Services, which reflected the general economic
slowdown, or the 6.2-percent decrease in revenues contributed by
SITA due to lower prices applied with effect from July 1, 2002.

Equant continues to have a solid order book, with $330 million
added during the third quarter, and has benefited from the
problems faced by certain competitors. The company pursued
initiatives to reduce costs and had net cash of $384 million at
September 30, 2002.

TP Group

TP Group contributed 2.3 billion euros to consolidated revenues
for the Fixed Line, Voice and Data Services - Outside France
segment, representing six months of operations, from April to
September. The Polish operator had 10.5 million fixed-line
telephony customers at September 30, 2002, representing a year-
to-year increase of 1.8 percent. It had 4 million wireless
customers at the end of the period via its subsidiary PTK
Centertel, up from 2.3 million at September 30, 2001, a rise of
70.9 percent. PTK Centertel recorded remarkable growth in its
market share, which rose from 27.8 percent at end 2001 to 31.7
percent at end September 2002. In addition to the rapid
development of wireless services, TP Group benefited from robust
growth in the Internet market and had 1.3 million active
customers at September 30, 2002.

Outlook

Full-year consolidated revenues are expected to rise between 8
and 9 percent. France Telecom expects annual growth in EBITDA and
EBIT to exceed 15 percent.

KEY CONSOLIDATED FIGURES ON SEPTEMBER 30, 2002
On September 30, 2002 the France Telecom Group (including
companies in which France Telecom holds a controlling interest)
had a total of 108.4 million customers, with the following
breakdown by service:


                                    Customers (in millions)
Countries
    Wireless Communications             48.6                   21
    Fixed-Line Telephony                49.0                   10
    Internet Access (active customers)   8.6                   12
    Cable Networks                       2.2                    2

The customer base continues to increase at a steady pace. At
September 30, 2002, the France Telecom group had nearly 10
million additional customers on a pro forma basis, compared
September 30, 2001. This represents year-to-year growth of 9.9
percent. The customer base increased at a sustained rate during
the third quarter of 2002, with a net increase of 1.1 million
customers(2). During the period the customer base for wireless
services increased by 873,000, and the active customer base for
Internet services increased by 260,000.

CONTACT:  Rachel Reinhardt, Senior Manager, Communications
          France Telecom
          Phone: +1-212-332-2135
          Fax: +1-212-245-8605
          E-mail: rreinhardt@francetelecom.com
          Home Page: http://www.francetelecom.com


VIVENDI UNIVERSAL: Turns Down Vodafone's Offer for Cegetel Share
----------------------------------------------------------------
The Board of Directors of Vivendi Universal (Paris Bourse: EX FP;
NYSE: V) noted Vodafone's offer to acquire Vivendi Universal's
44% controlling interest in Cegetel for E6.77 billion.

The Board examined Cegetel's market share, current and projected
accounts, and the growth prospects in fixed and mobile telephony
for the company, which is France's leading private
telecommunications operator.

Following its examination, the Board considers that the amount
offered by Vodafone does not reflect the true value of Cegetel
and has decided, on behalf of Vivendi Universal's shareholders,
not to accept the offer as it stands.

At the same time, the Board noted the decision of the president
of the Paris Commercial Court, acting under conditions of
urgency, who ruled that Vivendi Universal can make use of the
full period provided for under the shareholder agreement to
consider using its pre-emptive right on either or both of the BT
and SBC shareholdings.

CONTACT:  VIVENDI UNIVERSAL
          Paris:
          Antoine Lefort
          Phone: +33 1 71 71 11 80
          Alain Delrieu
          Phone: +33 1 71 71 10 86
          New York:
          Anita Larsen
          Phone: +(1) 212 572 1118


VIVENDI UNIVERSAL: Faces Legal Suit on Accounting Irregularity
--------------------------------------------------------------
A group of French shareholder has filed a legal complaint
alleging accounting irregularities at Vivendi Universal, the
French communications company.

According to the Financial Times, the move follows a civil
complaint about misleading financial information made in July by
APPAC, an association representing small shareholders in France.

Two judges were tasked by the Paris public prosecutor to inquire
into whether Vivendi had published "false balance sheets" for
2000 and 2001, and whether it had "issued false or misleading
information" on its outlook in 2001 and 2002.

Vivendi Universal's former chief executive, Jean-Marie Messier,
who resigned in June, is being investigated in his role in the
irregularity. Mr. Messier's resignation came while the company
faces severe liquidity crisis as a result of a EUR19 billion
(USD18.68 billion) debt load. Vivendi's shares have fallen almost
80% since the start of the year.

Olivier Metzner, Mr. Messier's lawyer, believes the investigation
would not only show the accuracy of the accounts, but would also
show that Vivendi's financial information was exact and
transparent.

Didier Cornardeau, APPAC president who considered the court's
action on their complaint "a first victory," said he expected
Jean-Rene Fourtou, the new chief executive, to support the
inquiry.

The legal complaint was on top of a class action lawsuit launched
in the U.S. against Vivendi and Mr. Messier for misrepresenting
the group's financial situation.

Meanwhile, Commission des Operations de Bourse (COB), the French
stock market regulator, is also conducting an inquiry into
Vivendi's financial disclosure.


VIVENDI UNIVERSAL: Close to Selling U.S. Publishing Business
------------------------------------------------------------
Vivendi Universal is close to striking a deal for the sale of its
U.S. publishing business, Houghton Mifflin, to a private equity
consortium, which includes private equity firms Apax Partners,
Thomas H. Lee and Blackstone.

The media giant, which last week was expected to scrap the sale
because bids were reportedly well short of its target of EUR1.75
billion (USD1.71 bilion), had asked bidders to submit new offers
last Friday, says the Financial Times.

Vivendi Universal is selling the U.S. and European divisions of
its publishing business, Vivendi Universal, which is valued at
EUR4 billion to EUR5 billion (US$3.9 billion to US$4.9 billion).
It had reached an agreement last week to sell its non-U.S.
publishing activities for ?1.25bn to LagardSre, the French
publishing company.

CONTACT:  VIVENDI UNIVERSAL
          42 avenue de Friedland
          75380 Paris Cedex 08, France
          Phone: +33-(0)1-71-71-10-00
          Fax: +33-(0)1-71-71-11-79


VIVENDI UNIVERSAL: Investors Push Cash Takeover for Canal Plus
--------------------------------------------------------------
A group of investors has urged BNP Paribas to officially offer a
cash takeover for French pay-TV group, Canal Plus, which is 48.5%
owned by Vivendi Universal.

The group consisting of Pathe, TF1 and possibly the Belgian
financier Albert Frere, says reports, pushed for the offer, which
is valued at EUR650-700 per subscriber. The price of the offering
values the bid at EUR 3.2 to 3.4 billion based on 4.9 million
subscribers at the end of 2001.

Pathe and TF1 are working on merging CanalSatellite with rival
satellite broadcaster TPS. According to French daily, Le Monde,
Pathe and TF1 may be launching their bid now in order to pressure
Canal Plus ahead of a November 12 deadline for submitting bids
for renegotiating sports broadcasting rights in France. It is
expected that broadcast rights would be much cheaper if
CanalSatellite and TPS could negotiate in tandem, according to
the report.

The bid for Canal Plus, however, may be blocked by the Lagardere
group, through its 34% ownership of CanalSatellite, a sister
broadcaster in which Canal Plus holds the remaining 66%.

On Vivendi's part, it is believed that the media giant, which is
raising cash to pursue a counterbid for Cegetel, may be prompted
to take care of Lagardere's pre-emptive rights for the unit.


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


BAYER AG: Appoints Rolf Classon as Chairman of Bayer HealthCare
---------------------------------------------------------------
The Board of Management of Bayer AG has appointed Rolf Classon
the new Chairman of the Board of Management of the future Bayer
HealthCare AG effective immediately. In addition, he will also
assume the chairmanship of Bayer HealthCare's Executive
Committee.

Classon succeeds Dr. Frank Morich, who has left Bayer AG by
mutual agreement.

The new HealthCare CEO was previously a member of the subgroup's
Executive Committee, in which he was responsible for strategy and
business development. In addition, he was Head of the Diagnostics
Division of Bayer HealthCare.

Rolf Classon joined Bayer in 1991 as Executive Vice President of
the Diagnostics Business Group, responsible for marketing, sales
and service. On January 1, 1995, he became head of the business
group, which is headquartered in the United States.

Among his accomplishments at Bayer, Classon was responsible for
the successful integration of the diagnostics activities of
Chiron into Bayer's Diagnostics Division. Prior to joining Bayer,
he held various managerial posts at Pharmacia AB, a Swedish
health care company. Classon was born in Sweden.

Professor Dr. Wolfgang Hartwig will assume the position of Head
of the Diagnostics Division with immediate effect. As previously
announced, he has been preparing to take up his new post for the
past several weeks.

Prof. Dr. Wolfgang Hartwig began working at Bayer in 1982. He
became a head of department in 1988 and was appointed head of the
Pharmaceuticals Business Group's chemical laboratory three years
later. In 1993, he transferred to the Bayer Corporation in the
U.S. as Head of Pharmaceutical Research. From the end of 1996 to
mid 2002, Hartwig headed the global research activities of the
Pharmaceuticals Business Group. On July 1, he transferred within
the HealthCare business area to the Diagnostics Division.


BAYER AG: Bayer CropScience to Sell A Range of Products to BASF
---------------------------------------------------------------
Bayer CropScience AG on Monday announced that it intends to sell
a package of selected insecticides and fungicides to BASF AG
while retaining certain back-licenses for non-agricultural
applications. The total package is valued at EUR 1,330 million.
Taking into consideration the back-licenses the cash purchase
price amounts to EUR 1,185 million. With the completion of the
envisaged transaction, Bayer CropScience would fulfill within the
given timeframe a major condition imposed by the European
Commission and the U.S. Federal Trade Commission (FTC) as part of
the Aventis CropScience acquisition. This transaction is subject
to the approval by the European Commission and the U.S. Federal
Trade Commission.

Following the respective consent orders the agreements with BASF
contain assets and rights related to two insecticides (active
ingredients: Fipronil, Ethiprole) and a number of fungicides
(active ingredients: Prochloraz, Iprodione, Triticonazole,
Fluquinconazole and Pyrimethanil) for certain regions and
application fields. BASF will also acquire the Aventis
CropScience manufacturing plant in Elbeuf, France. The total
revenue from the products and operations involved in the
transaction amounted to about EUR 500 million in 2001.

"After the sale of these products, Bayer CropScience can now
focus entirely on developing its business and expanding its
market position", said Werner Wenning, Chairman of the Board of
Management of Bayer AG.

"Cash-in from the sale also contributes to improving the Group's
financials, as does the cash inflow from the other divestments we
have already announced."

"Following a very competitive auction process and intensive
negotiations with several interested parties we are pleased to
have reached an agreement with BASF," added Dr. Jochen Wulff,
Chairman of the Board of Management of Bayer CropScience AG. "The
purchase price agreed represents a fair compensation for the
required divestments. I am also pleased that we were able to
retain licence rights to market Fipronil and its mixtures in
certain non-agricultural markets within the scope of the FTC
consent order," emphasized Wulff. "The integration of the Aventis
CropScience operations is moving ahead quite rapidly and we
continue to focus our efforts on the further integration and
strategic development of the new Bayer CropScience."

Bayer CropScience AG, a subsidiary of Bayer AG with annual sales
of some EUR 6.5 billion, is one of the world's leading innovative
crop science companies in the areas of crop protection, seeds and
green biotechnology, as well as on-agricultural pest control. The
company offers an outstanding range of products and extensive
service backup for modern, sustainable agriculture and for non-
agricultural applications. Bayer CropScience has a global
workforce of 22,000 and is represented in 122 countries, ensuring
proximity to dealers and consumers.


DEUTSCHE TELEKOM: T-Mobile Deutschland Launche Number Portability
-----------------------------------------------------------------
Service number gives free-of-charge information about the
allocation of numbers to the respective mobile communications
providers

Number portability will be launched on 1 November. T-Mobile
Deutschland will offer all mobile communications subscribers the
option of keeping their mobile communications numbers, including
the carrier codes, when they change to T-Mobile. This means that
new customers can benefit from the attractive T-Mobile tariffs
and services in both the pre-pay and post-pay segments without
having to change their numbers.

The application for number portability can be made to T-Mobile in
a period of 123 days before the end of the current contract up to
a deadline of 31 days after termination of contract with the
current mobile communications provider. The precondition for
keeping the current number is that the contract with the current
mobile communications provider is terminated in good time in
writing. Only then can the new contract be concluded with T-
Mobile and the only number be kept.

New customers receive the new T-Mobile card a few days before the
expiry of the current contract from their T-Punkt sales outlet or
from the dealer with whom they signed the new contract for T-
Mobile. If the customer places the order on the Internet or with
the service centre, the card is simply sent to the customer by
post. The current number is transferred to the new T-Mobile card,
meaning that the customer can be reached on the same number as
before once the SIM card has been activated. The transfer to the
new provider is completed within a maximum of 5 working days. The
activation process runs at night, a few hours after termination
of the current contract.

T-Mobile will not charge the new customer for keeping the number
when joining the T-D1 network. The customer will be charged a EUR
24.95 processing charge when changing to another mobile
communications provider.

Number portability means it will no longer be possible to clearly
identify which mobile communications number is operated by which
provider. For this reason, T-Mobile will offer its customers a
special service from 1 November. Anyone who wants to know which
mobile communications number is operated by which provider can
call up this information using a T-D1 mobile phone from T-Mobile
information service by dialling the speed dialling number 43 87.
This service is free of charge. This information is also
available via SMS and via the T-Mobile WAP service. In this case,
the normal call charges apply. Deutsche Telekom's fixed-network
customers can call the service hotline 01805/001133 (12 cents /
min.) to enquire which network the person they wish to call uses
and what prices are charged for a call from the fixed network.

Note:

On September 29, TCR-Europe cited a report from Telecom.paper
saying interim CEO Helmut Sihler is considering partially selling
T-Mobile and T-Online to cut the company's EUR64-billion debt.


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


GREEN PROPERTY: Issues Notice to Holders of GBP150 Million Bonds
----------------------------------------------------------------
Notice to the holders of the outstanding GBP150,000,000 7.25 per
cent. Guaranteed Bonds due 2016:

Terms not defined herein shall bear their meaning as defined in
the terms and conditions of the Bonds as set out in the Offering
Circular dated 7 December 2001 relating to the Bonds.

Further to the Put Event Notice dated 27 August 2002 and the
subsequent Put Period which expired on 18 October, 2002, notice
is hereby given that GBP21,880,000 in aggregate principal amount
of Bonds were purchased by the Issuer on 29 October, 2002
pursuant to the option contained in condition 5(d) of the Bonds
and cancelled forthwith.

GBP128,120,000 in aggregate principal amount of the Bonds are as
of the date hereof outstanding.

PRINCIPAL PAYING AGENT:  Citibank, N.A.
                         5 Carmelite Street
                         London EC4Y 0PA

                         Contact: John Brickell/Richard Breeze
                         Phone: 020 7508 3815/3809
                         Fax: 020 7508 3878

PAYING AGENT:  Banque G,n,rale du Luxembourg S.A.
               50, Avenue J.F. Kennedy
               L-2951 Luxembourg

Note:
On September 25, Fitch Ratings downgraded the Senior Unsecured
Debt and Short-term rating of Green Property PLC's GBP150 million
2016 Eurobond to 'BB+/B' from 'BBB/F3'.

The rating reflects the rating agency's belief that "funding
facilities are currently in place for the bonds' repayment at par
whilst acknowledging the potential subordination that could take
place even during the existing Change of Control Put Event
period."


=========
I T A L Y
=========


FIAT SPA: To Launch Recapitalization for Auto Unit This Year
------------------------------------------------------------
Troubled Italian industrial conglomerate Fiat, which last week
ruled out recapitalization of its auto unit this year, was forced
to accelerate the plan after political upheaval due to massive
lay-offs on the unit broke out.

The carmaker, which admitted to having 20 to 30% excess
manpower, earlier considered further job cuts to raise money for
investment. Although reports have stated that Fiat Auto plans to
dismiss between 3,000 to 4,000 jobs, unions fear the figure could
be up to 6,000.

The planned EUR2billion to 3 billion (USD1.97bn to 2.95bn)
recapitalization is aimed at securing next-year savings of EUR800
million to EUR1 billion for the firm.  Fiat is expected to post a
nine-month operating loss at of about EUR1.15 billion at the car
division. Losses in Fiat Auto are expected to reduce
shareholders' equity of EUR1.8 billion.

Giancarlo Boschetti, chief executive of Fiat Auto, is thought to
have presented his cost-cutting plan to senior GM executives on
Tuesday.

Although the structure of the fundraising is still being studied,
it is believed that General Motors, which has a 20% stake in the
division, could be asked to contribute if it is not fully debt
funded, the Financial Times says.

Fiat is also reportedly considering raising the cash at least
partly through a bond issue to limit the immediate cash call on
itself and GM.

Fiat executives are to ask their board on Wednesday to approve a
cash injection for Fiat Auto before the end of the year.


TELECOM ITALIA: Finsiel Solutions for Major Organizations
---------------------------------------------------------
Finsiel, the Telecom Italia Information Technology Market
Business Unit, is teaming up with Microsoft to develop and offer
technologically advanced solutions to central and local
government, corporations, banks and insurance companies.

This partnership combines Finsiel services and know-how with the
reliability and scalability of the Microsoft .NET platform to
offer organizations operating in a variety of markets - finance,
government and industry - all the technological infrastructures,
advice and backup required to realize XML Web Services and ensure
interoperability between IT systems and a whole host of
applications.

Microsoft will be supporting Finsiel in its development of key
applications for major organization operations. Among other
things, the agreement calls for development of management
solutions that include products and services from Microsoft
Business Solutions (a Microsoft division established following
acquisition of Navision), alongside development of content
management applications.

The venture includes specific training courses for around 100
Finsiel operatives, who after obtaining certification in
Microsoft .NET technologies will form the core of specialist
technical and sales staff with Microsoft platform expertise and
the ability to cater to the diverse needs of Finsiel's clients.
The training programme will have a special focus on System
Administrators, Systems Engineers and Applications Developers.

"In its software development, systems integration and consulting
operations," says Matteo Mille, the man in charge of Finsiel
offerings and markets, "Finsiel is underscoring its desire to
enter into business ventures targeted at consolidating and
developing the company's technological skills in value added
processes and solutions for the government, corporate, banking
and insurance markets."

"By moving its partnership with Microsoft on to the next phase of
strategic solutions based upon groundbreaking technologies,
Finsiel is positioning itself to cover the full ICT value chain
and to serve as a one-stop shop for its customers, leveraging the
facility management, business continuity, IT security and
housing/hosting infrastructures developed by the IT Group unit
and by Domestic Wireline. As a result, Finsiel is a true Business
Solution Provider to the market."

"This agreement leverages the specific strengths of each of these
two companies: Microsoft's innovation and technological
leadership and Finsiel's expertise and consulting services
pedigree. This partnership will lead to creation of a full range
of services and solutions to support operations undertaken by
major organizations," says Davide Vigan, Microsoft Italia Deputy
Enterprise & Partner Group General Manager and Director of
Central Marketing Organization.

Microsoft

Founded in 1975, Microsoft is the world leader in personal and
business information management software, services and Internet
technologies. The company offers a full range of software
products and services that enable all users to enhance the
results of what they do - anytime, anywhere, using any device.
Full information on Microsoft is available on the Internet at
http://www.microsoft.com/italy/or by email from
infoita@microsoft.com

Finsiel (Telecom Italia Group)

Finsiel is one of Italy's leading IT consulting and services
companies with turnover exceeding EUR1,200m. Finsiel offers
government organizations, banks and businesses a full range of
products and services spanning the entire ICT value chain: IT
consulting, business process re-engineering, business
intelligence, systems integration, ERM solutions, online services
and e-learning. Finsiel's latest offerings are fully geared to
the Internet, with solutions and services that integrate legacy
systems, ERP platforms and Internet technologies. The company is
well-known for its process re-engineering consulting services and
its unparalleled knowledge of the markets on which operates.

Note:

While chairman Marco Tronchetti Provera said it has already
achieved objectives for reducing debts, the company still has
ongoing projects on the property front that is expected to help
in their drive to trim down owings.


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


ISPAT EUROPE: Ispat International Buys Back Class A Common Shares
-----------------------------------------------------------------
The Board of Directors of Ispat International N.V. (NYSE:IST US;
AEX:IST NA), announced today that, in accordance with renewed
shareholder authorization, it intends to purchase up to 5,000,000
Class A shares of the Company in the open market from time to
time, depending on market conditions.


ISPAT EUROPE: Moody's Ups Rating of Secured Notes Offering
----------------------------------------------------------
Moody's Investors Service upgraded the ratings of Ispat Europe
Group S.A.'s EUR 150 million Senior Secured Notes Issue
guaranteed by Ispat International N.V. (Ispat International) to
Caa1 from Caa2. The outlook for the ratings is stable.

The rating agency also raised Ispat Europe's Senior Implied
rating to B3 from Caa1 and its Issuer Rating to Caa2 from Caa3.

The action, which affected USD150 million of Debt Securities,
reflects the improvement that parent and guarantor Ispat
International made on its operating performance as well as a
gradual recovery expected in Ispat Europe's performance.

Ispat International recently completed successfully the exchange
offer for notes issued by its Mexican subsidiary Ispat Mexicana.
The success of the offering reduces the threat of Ispat
International defaulting under its guarantee obligations and of
related spill-over effects that could trigger covenants in Ispat
Europe's bond documentation.

Ispat Europe Group S.A. is an intermediate holding company within
the Ispat International Group, which owns and operates three
major subsidiaries: Hamburger Stahlwerke (acquired in 1995),
Ispat Duisburg (1997) and Ispat Unimetal Group (1999). The group
is the European market leader in high quality wire rods with
strong positions in Germany and France and generated sales of EUR
1.3 billion in 2001. Ispat International N.V., the parent
company, is among the largest steel producers in the world with
sales of USD4.5 billion in 2001.


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


ELEKTRIM SA: TV-Tel Obtains Out-of-Court Settlement With Banks
--------------------------------------------------------------
The Management Board of Elektrim S.A. announces that on 24
October 2002, Elektrim TV-Tel Sp. z o.o. (Elektrim's indirect
associated company) and Bank Gospodarki Zywnosciowej S.A.
executed an out-of-court settlement with regard to the repayment
of the restructured debt of Elektrim S.A. Elektrim S.A.
countersigned the settlement on 28 October 2002.  As a result of
the settlement the present guarantee for an investment credit,
which currently stands at PLN 12,214,000, extended by Elektrim
S.A. will cease to be in force.

At the same time, The Management Board of Elektrim S.A. announces
that on 23 October 2002 an agreement was executed between Bank
Polska Kasa Opieki S.A. and Elektrim TV-Tel Sp. z o.o., which was
countersigned by Elektrim S.A. on 28 October 2002. As a result of
the agreement new principles of receivables' repayment, which
amounted to PLN 18,689,422.67 as at 30 September 2002, were set.
The receivables resulted from a credit agreement guaranteed by
Elektrim S.A. that was terminated by the bank, effective 30 April
2002. As a result of the agreement an additional security was
established on the agreement in the form of a guarantee extended
by Elektrim Telekomunikacja Sp. z o.o. and a new schedule of
repayment was set.


ELEKTRIM SA: Issues Information on Tax Return
---------------------------------------------
In connection with enquiries of the media relating to the
correctness of tax declarations regarding transactions executed
by Elektrim in previous periods the Management Board of Elektrim
S.A. announces that basing on opinions prepared by experts in tax
law, and following internal inspection and analyses it is of the
opinion that the tax returns were prepared correctly and
therefore, it is not planning a revision of the company's tax
declarations.


=====================
S W I T Z E R L A N D
=====================

SWISS LIFE: Regulator Launches Probe on Recalculations
------------------------------------------------------
The Swiss regulator Federal Office of Private Insurance is
investigating Swiss Life, the assurer which recently recalculated
its financial results and admitted involvement in an investment
vehicle thought to serve top executives.

Senior Swiss Life executives were summoned to Berne Tuesday after
the group restated its half-year results for the second time when
an error in its IT system resulted in an under-reporting of nearly 30%
of its SFR578m (USD388m) first-half loss.

Added to the reason of the probe is the company's involvement in
the investment vehicle, Long Term Strategy, which on Monday, it
admitted to have jointly founded with some of its top managers.

The error in the group's 2001 half-year results has pulled down
the company's effort to raise SFR1.2 billion of new equity to
plug financial gap caused by heavy losses in the equity markets.

Although the government reduced the minimum guaranteed rate for
pensions to help boost the company's profitability, it is thought
that Swiss Life still requires international investor support for
its rights issue.  The rights offering is aimed at bringing back
SFR4.9 billion it lost since 1999.


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


BALDWINS INDUSTRIAL: Panel Hires McClain & Leppert as Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors asks for authority
from the U.S. Bankruptcy Court for the Southern District of
Texas to hire McClain & Leppert, PC, as its Counsel in
connection to the chapter 11 cases involving Baldwins Industrial
Services, Inc., and its debtor-affiliates.

The Committee relates to the Court that during its meeting,
members voted to tap the legal services of McClain & Leppert as
counsel for the Committee with David P. McClain, Esq., as the
attorney in charge of the representation.

The Committee anticipates McClain & Leppert will:

   a) give the Committee legal advice with respect to its powers
      and duties under the Bankruptcy Code in connection with
      this case;

   b) prepare on behalf of the Committee all necessary
      applications, answers, claims, proceedings, orders, reports
      and other legal instruments necessary or advisable to
      represent the interests of the unsecured creditors of
      Baldwins Industrial;

   c) initiate and prosecute any litigation to which the
      Committee may be a party;

   d) assist the Committee in its investigation of the acts,
      conduct, assets, liabilities, and financial condition of
      Baldwins Industrial, the operation of Baldwin Industrial's
      business, and the desirability of the continuation of such
      business, and any other matter relevant to the case or to
      the formulation of a plan of reorganization;

   e) assist the Committee in requesting the appointment of a
      trustee or examiner should such action become necessary;

   f) negotiate with the secured creditors and Baldwins
      Industrial on behalf of the Committee;

   g) review all claims and documentation of collateral or
      security held against Baldwins Industrial or its assets;

   h) institute objections to proofs of claim asserted against
      Baldwins Industrial's estate, and to prosecute all
      contested objection to proofs of claim asserted against the
      estate;

   i) analyze, institute and prosecute actions regarding recovery
      of property of Baldwins Industrial's estate;

   j) assist, advise and represent the Committee in analyzing the
      capital structure of Baldwins Industrial, investigating the
      extend and validity of liens, cash collateral stipulations
      or contested matters;

   k) assist, advise and represent the Committee in any manner
      relevant to preserving and protecting Baldwins Industrial's
      estate;

   l) investigate and prosecute preferences, fraudulent transfers
      and other actions arising under Baldwins Industrial's
      bankruptcy avoiding powers, to the extent the Committee is
      so empowered;

   m) appear in Court and to protect the interests of the
      Committee before the Court;

   n) assist the Committee in administrative matters; and

   o) perform such other legal services as may be required and in
      the interest of the unsecured creditors of Baldwins
      Industrial's estate, including preparation of a plan of
      reorganization and disclosure statement.

McClain & Leppert's bankruptcy-related work will be performed by
David P. McClain, Esq., and Mike Leppert, Esq., at $300 per
hour.  The rates for other professionals are:

           Associates           $150 - $185 per hour
           Legal Assistants     $ 60 per hour

Baldwins, one of the largest crane rental companies in the
Southwestern United States, filed for chapter 11 protection on
August 26, 2002. Jack M. Partain, Jr., Esq., at Fulbright &
Jaworksi represents the Debtors in their restructuring efforts.
When the Company filed for chapter 11 protection it listed
assets of not more than 10 million and estimated debts at not
more than 50 million.


CORDIANT COMMUNICATIONS: Announces Notifiable Holdings
-----------------------------------------------------
Cordiant was notified on 28 October 2002 that Barclays PLC has a
holding of 12,368,656 Ordinary shares, representing 3.02% of the
issued share capital of the Company.

CONTACT:  Cordiant
          Phone: +44 20 7262 4343

          Nathan Runnicles
          College Hill
          Phone: +44 20 7457 2020

          Alex Sandberg
          Dick Millard


EQUITABLE LIFE: Action Group Demands Investigation in Two Weeks
---------------------------------------------------------------
Angry policyholders of collapsed Equitable Life gave new
Parliamentary Ombudsman, Ann Abraham, two weeks to launch an
investigation into the government's regulation of Equitable Life,
the assurer which lost millions of pounds of investors' money.

The policyholders, who were enraged about the secrecy of the
Penrose inquiry into the collapse of Equitable Life and
suspicious that the Treasury is trying to block the
investigation, staged a protest in Westminster.

According to The Scotsman, Paul Braithwaite, general secretary of
the Equitable Members' Action Group, said: "We're accusing the
Treasury of a cover-up and we want a comprehensive study and
[compensation]."

The policyholders are claiming up to GBP4 million in compensation
for losses in investments. They wanted the ombudsman to widen the
scope of Judge Penrose's investigation to 1994, during which the
Treasury and the Department of Trade and Industry acted as the
City's financial regulators.

According to the report, policyholders called on the ombudsman to
commit to addressing 250 cases of alleged maladministration
lodged by MPs, dating back to 1994.


KINGFISHER: Schedules Re-opening of Castorama Securities
--------------------------------------------------------
On 24 October 2002, Kingfisher announced its intention to re-open
its Offer for the equity and equity-linked securities issued by
Castorama Dubois Investissements (CDI).  This followed
confirmation that the initial Offer had enabled Kingfisher to
increase its holding to 98.90% of the fully diluted share capital
of CDI. Settlement of the initial Offer will commence on 4
November 2002.

It is now confirmed that the Offer will re-open on 29 October
2002 and will close on 11 November 2002.  It is expected that the
result of the re-opened Offer will be published by the Conseil
des March,s Financiers (CMF) on 18 November 2002 and that
settlement will be made through Euronext Paris SA, commencing on
20 November 2002.

Kingfisher is Europe's leading home improvement retailer and is
ranked number three in the world. The Company operates more than
590 home improvement stores in 12 countries and enjoys market-
leading positions in the UK, France, Poland and Taiwan. Sales for
the Home Improvement sector for the year to 2 February 2002 were
more than o5.8 billion, with retail profit in excess of o430
million.

Kingfisher's Electrical & Furniture business operates more than
830 stores in nine countries. It is Europe's third largest
electricals retailing business by sales and number two by retail
profit. As well as holding the leading position in France and the
number two position in the U.K., Kingfisher also enjoys leading
positions in Belgium and in the Czech and Slovak Republics.
Sales for the year to 2 February 2002 were more than o3.7
billion, with retail profit of o184 million.

Broker and Institutional Enquiries

CONTACT:  Frederique LePelletier
          Phone: +44 (0) 20 7725 4886
          Media Enquiries

          Jonathan Miller, Head of Corporate Comms, UK
          Phone: +44 (0) 20 7725 5713

          Kingfisher plc
          Phone: +44 (0) 20 7724 7749
          Home Page: www.kingfisher.com


KINGFISHER: FTSE Deletes Castorama Dubois in FTSE Indices
---------------------------------------------------------
Following the announcement by Kingfisher (U.K.) of acquiring
98.9% of Castorama Dubois (France), FTSE announces the following
changes:


INDEX                     CHANGE                 EFFECTIVE FROM
                                                START OF TRADING

FTSE All-World Index  Castorama Dubois          31 October 2002
                      (France, 7155613)
                      will be deleted.

FTSE World Index      Castorama Dubois           31 October 2002
                      will be deleted.

Ex-Multinationals     Autozone (USA, 2065955)
                      will be added to the index
                      with a shares in issue
                      figure of 105,452,100
                      and an investibility
                      weight of 100%.

FTSE Global Islamic   Castorama Dubois           31 October 2002
Index                will be deleted.

FTSE Eurotop 300      Castorama Dubois           31 October 2002
                      will be deleted.
                      Banco Popular
                      (Spain, 5857836)
                      will be added
                      to the index
                      with a shares
                      in issue figure
                      of 217,154,100
                      and an investibility
                      weight of 100%

FTSE Euro 100        Castorama Dubois           31 October 2002
                      will be deleted.

                      Altadis (Spain, 5444012)
                      will be added to the index
                      with a shares in issue
                      figure of 305,471,000
                      and an investibility
                      weight of 100%.

FTSE EuroMid          Bunzl will be deleted.      31 October 2002

FTSE4Good Global      Castorama Dubois            31 October 2002
Index                 will be deleted.


FTSE4Good Europe      Dubois will                  31 October
2002
Index Castorama       be deleted.


KINGFISHER: Castorama Dubois Leaves Euronext 100 Index
------------------------------------------------------
Following the official result of the takeover bid by the British
company Kingfisher Plc for the French company Castorama Dubois
Investissements (Euronext 100 index), Castorama Dubois
Investissements will be removed from the Euronext 100 index
effective Wednesday 30 October 2002.

Following the rules of the Euronext 100 index the removed company
will not be replaced immediately, but at the next quarterly
review (effective 2 January 2003). As of Wednesday 30 October
2002, the Euronext 100 index will consist of 99 companies.

Information/Isin codes

Information about Castorama Dubois Investissements

Isin code: FR 0000124208

Mkt cap: 10 212 million Euro

Shares: 157 838 044

Index: removed from Euronext 100 index effective Wednesday 30
October 2002

The Euronext 100 index and Next 150 index have been published
since 2 October, 2000. They are constituted of the 250 securities
with the highest market capitalisation, traded on the official
markets of Euronext. In order to be included in the indices the
securities must meet liquidity criteria that are specified in the
rules of the indices. Euronext Indices is the compiler of the
indices under the supervision of the independent Euronext Indices
Steering Committee.


THE BIG FOOD: Aviva Sends Letter Regarding Issued Ordinary Shares
-----------------------------------------------------------------
Letter Dated 25 October 2002

The Big Food Group Plc - Sedol 0455871

This notification supersedes our previous notification to you
dated 19 August 2002 and is prompted by sales totaling 10,767,552
on 24 October 2002.

This notification relates to issued ordinary shares of 10p each
in the capital of the Company (the "shares") and is given in
fulfilment of the obligations imposed by sections 198 to 202 of
the Companies Act 1985.

1.   Notification on behalf of Morley Fund Management Limited (a
subsidiary of Aviva plc).

1.1  Morley Fund Management Limited no longer have a notifiable
interest in the shares.

2.   Notification on behalf of Aviva plc.

2.1  Aviva plc no longer have a notifiable interest in the
shares.

We are only required to notify interests which are defined as
material interests when the holding is equal to 3% or more of the
Company's relevant share capital.

The term material interests exclude certain categories where we
do not hold a beneficial interest, for example where the shares
are held in an Authorised Unit Trust Scheme or Open Ended
Investment Company. Holdings in those categories are therefore
not included in the holding notified under this letter.


LETTER FROM: AVIVA PLC
25 October 2002

Appendix: Morley Fund Management Limited

Registered Holders                         Number Of Shares Held

BNY Norwich Union Nominees Ltd             3,071,139  (Material)
Chase GA Group Nominees Ltd                1,489,996  (Material)
CUIM Nominee Ltd                           1,859,766  (Material)

Total Percentage Interest Of Morley Fund Management Limited:
1.87%
ISSUED SHARE CAPITAL ON WHICH THIS NOTIFICATION IS BASED:
343,109,788


25 October 2002

Appendix: Aviva Plc

Registered Holders                         Number Of Shares Held

BNY Norwich Union Nominees Ltd             3,071,139  (Material)
Chase GA Group Nominees Ltd                1,489,996  (Material)
CUIM Nominee Ltd                           1,859,766  (Material)

Total Percentage Interest Of Aviva Plc: 1.87%
Issued Share Capital On Which This Notification Is Based:
343,109,788


TXU EUROPE Limited: Company Profile
-----------------------------------
NAME: TXU Europe Limited

PHONE: +44-20-7879-8081

FAX: +44-20-7879-8082

WEBSITE: http://www.txu-europe.com

TYPE OF BUSINESS: TXU Europe Limited (TXU Europe) is an indirect,
wholly-owned subsidiary of TXU Corp., a Texas corporation. TXU
Corp. is a global energy services holding company that engages in
electricity generation, wholesale energy trading and risk
management, retail energy sales, energy delivery, other energy-
related services and, through a joint venture, telecommunications
services. TXU Europe is a holding company for TXU Corp.'s United
Kingdom (UK) and other European operations. Almost all of TXU
Europe's operating income is derived from, and consolidated
assets are held by, TXU Europe Group plc (TXU Europe Group) and
TXU Europe Group's subsidiaries.

SIC: Utilities - Electric Utilities

EXECUTIVES: Erle Nye, Chairman

            Philip Turberville, Chief Executive Officer

            Paul Marsh, Chief Operations Officer

            Henry Birt, Principal Financial Officer

INVESTOR RELATIONS: David Anderson, VP of Investor Relations
                    E-mail: danderson@txu.com
                    Phone: 214.812.4641

NUMBER OF EMPLOYEES: 3, 677 (as of 2001)

COMPREHENSIVE INCOME: GBP9 million (as of June 30, 2002)

TOTAL ASSETS: GBP 8,312 million (as of June 30, 2002)

TOTAL CURRENT ASSETS: GBP 2,116 million (as of June 30, 2002)

TOTAL CURRENT LIABILITIES: GBP 1820 million (as of June 30, 2002)

SHAREHOLDER'S EQUITY: GBP2118 million (as of June 30, 2002)

AUDITOR: DELOITTE & TOUCHE
         Hill House
         1 Little New Street
         London
         EC4A 4TR
         United Kingdom

         Phone: + 44 (0)20 7936 3000
         Fax: + 44 (0)20 7583 8517

THE TROUBLE: On October 15, TCR-Europe reported that Texas power
utility TXU Corp has decided to cut a US$700 million lifeline for
its British arm. The European operation, which was hit by weak
wholesale power prices and strong competition, is reportedly
affecting the group's performance.

TXU Europe sought trading partners and lenders for help after the
company's U.S. parent, TXU Corp., showed reluctance to provide
US$700 million to the subsidiary. The energy company warned that
if they cannot renegotiate terms with generators, the company may
close its U.K. business or putit up for sale.

LEGAL PROCEEDING: Prior to Enron's going into Administration, TXU
Europe Energy Trading (TXUEET) had certain energy purchase and
sales contracts with Enron, which had been entered into in the
ordinary course of business. The terms of these contracts
provided that they terminated automatically upon a party going
into Administration. Also, on November 29, 2001 just prior to
Enron going into Administration, TXUEET received a notice from
Enron purporting to terminate these contracts for cause. TXUEET
and the Administrator have had discussions regarding potential
claims relating to contract termination; in February 2002 TXUEET
applied to the High Court in London for permission to seek a
judicial determination regarding contract termination and, in
March 2002, Enron filed an action in the High Court relating to
interpretation of certain other contractual provisions.

To see Financial Statement:
http://bankrupt.com/misc/TxuEurope.pdf

                                   ************

       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., Trenton, NJ
USA, and Beard Group, Inc., Washington, DC USA. Kimberly MacAdam,
Larri-Nil Veloso and Ma. Cristina Canson, Editors.

Copyright 2002.  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$575 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each. For subscription information,
contact Christopher Beard at 240/629-3300.


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