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        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

            Friday, October 7, 2005, Vol. 6, No. 199

                            Headlines

C Z E C H   R E P U B L I C

OSKAR HOLDINGS: Ratings Withdrawn Following Debt Redemption


G E R M A N Y

AACHENER VRS: Court to Verify Claims December
ASTRADENT-DENTAL: Creditors Meeting Set Next Month
BINGO TAXENBETRIEB: Court Appoints Kuebler Administrator
BUHSE GMBH: Succumbs to Bankruptcy
CATERING SOLUTION: Goes Belly up

DEGUSSA AG: Downturn to Cause Job Losses, Plant Closures
GFL GESELLSCHAFT: Proofs of Claim Due November
JENOPTIK AG: Thuringia State Selling Remaining Stake
MARSEILLE-KLINIKEN: Result from Ordinary Operations Recovers
MTR MINERALSTOFF: Rostock Court Calls in Administrator

PROSIEBENSAT.1 MEDIA: Springer Bid for Preference Shares Too Low
SECURITY MANAGEMENT: Under Bankruptcy Administration
VOLKSWAGEN AG: Brazilian Workers on Strike Over Profit Sharing


H U N G A R Y

PARAD KRISTALY: On Sale anew


I T A L Y

ALITALIA SPA: Main Beneficiary of State Aid for Airline Sector
PARMALAT FINANZIARIA: Returns to the Market Stronger than ever
PARMALAT U.S.A.: Farmland Trust Objects to Bartlett's Claim


L U X E M B O U R G

ORIFLAME COSMETICS: To Produce Lipstick with German Supplier


N E T H E R L A N D S

ROYAL SHELL: Cancels 925,000 'A' Shares at EUR26.74 Each


R U S S I A

ABINSKIY CANNERY: Court Appoints Insolvency Manager
AUTO-TRANSPORT ENTERPRISE #12: Succumbs to Bankruptcy
BINOM: Bankruptcy Hearing Set Next Year
ENERGO-TEKH-PROM: Declared Insolvent
ISENBAEVSKIY BRICKWORKS: Bankruptcy Supervision Procedure Begins

NEFTEYUGORSKOYE: Claims Filing Period Ends Next Month
NIVA-BOLKHOV: Sets Public Auction October 19
OAO SIBNEFT: Gazprom Seeks Antitrust Approval for Stake buy
OJSC URALSIB: 'B-/C' Ratings Affirmed; Outlook Positive
PEREVALOVSKOYE: Undergoes Bankruptcy Supervision Procedure

RUD-BAKAL-STROY: Hires A. Lavrov Insolvency Manager
STERLIKAMSKIY: Deadline for Proofs of Claim Monday
YUKOS OIL: Loses Appeal on 2000 Tax Arrears
YUKOS OIL: Prosecutors Raid Offices


S P A I N

IZAR: Invites Bids for Shipyards


S W E D E N

SKANDIA INSURACE: Hiring Goldman Sachs to Fend off Hostile Bid


S W I T Z E R L A N D

ABB LTD.: Buys back CHF392 Million Bonds due 2009


T U R K E Y

ERDEMIR DEMIR: S&P Frowns Over Share Disposal
KOCBANK: Long-term 'BB-' Rating Affirmed After YKB Acquisition
YAPI VE KREDI: Ratings Upgraded; Outlook Stable


U K R A I N E

EKOMASH: Court Appoints Temporary Insolvency Manager
FORTSHRITT ERNTEMASHINEN: Declared Insolvent
LENINSKE: Insolvency Manager Steps in
LUKSIMPEKS: Bankruptcy Supervision Starts
MOLOCHNIK: Names Ludmila Alekseyeva Temporary Insolvency Manager

NEDRIGAJLIVSKE AUTO 15943: Falls into Bankruptcy
PIVDENTRANSKARGO: Under Bankruptcy Supervision
SONAT: Undergoes Bankruptcy Supervision Procedure
SOVINTEKS: Insolvency Manager Takes over Operations
YASNOGIRSKE: Donetsk Court Opens Bankruptcy Proceedings
ZNAMYANSKA SUGAR: Succumbs to Bankruptcy


U N I T E D   K I N G D O M

ABICHELIN LIMITED: Calls in Liquidator
ALLIANCE RESOURCES: Liquidator Calls Creditors Meeting
AMEY PLC: Joint Venture Deal Extended until 2008
ARUNDELL SINCLAIR: Files for Liquidation
AVP PRODUCTION: Hires Administrators from Begbies Traynor

BAS LOGISTICS: EGM Passes Winding-up Resolution
BC BUILDING: Final Meeting Set December
BEAUMONT ASSOCIATES: Liquidator Sets Creditors Meetings
BRITISH AMERICAN: Canadian Unit to Continue Defense vs. Lawsuit
BRITISH AMERICAN: Selling Racing Team Stake to Honda Motor

BRITISH ENERGY: Sets Meeting to Discuss Bond Terms Amendments
CALLAHANS LABOUR: Creditors Meeting Set Mid-month
CENTER PARCS: Profit Lower by GBP9.7 Million Under IFRS
CHANNON MCCOLL: Administrator from Monahans Enters Firm
CHEMCO LIMITED: Final Meeting Set Next Month

CHESTNUT ROOFING: Goes into Liquidation
CHUBB (CANADIAN INVESTMENTS): Names Liquidators from PwC
CONCEPT FOR LIVING: Publisher Calls in Administrator
CONTINENTAL LIFESTYLE: Names Begbies Traynor Liquidator
COSTAIN GROUP: Joins Decommissioning Team at Trawsfynydd Site

CRISAND AUTOMATION: General Meeting Set Early Next Month
CROWN WARRIOR: EGM Passes Winding-up Resolution
DGRP LIMITED: Names Mazars Liquidator
DISTINCTION RESOURCING: Annual Meeting Set November
ETASA (BANANA): Hires KPMG Liquidator

ETHEL AUSTIN: Hit by Crisis in Retail Sector
FACILITIES PERSONNEL: Appoints Liquidator
FIRST CALL: Goes into Liquidation
GEN SPED: Creditors to Meet in Two Weeks
GLASS SHOP: Files for Liquidation

GRAY CAMPBELL: Liquidator from Slater Maidment Enters Firm
INITIATIVE BURNLEY: Calls in Liquidator from DTE Leonard
INTER-CITY ADS: In Liquidation
JESTER LIMITED: Calls in Liquidator
J. WEBB: Creditors Meeting Set Next Month

MANX PETROLEUM: Final, Creditors Meeting Set Early Next Month
MARTINS BANK: Debt Claims Deadline Set Later this Month
MERONDAWN LIMITED: In Liquidation
MUNICHRE SERVICES: Liquidators from KPMG Take over Company
NEWMATIC LIMITED: Final Meeting Set November

PEELFORT LIMITED: Calls in Administrators from Chamberlain & Co.
PPS ACIT: Calls in Kroll Limited Administrator
QUADRANT DISPLAYS: Creditors to Meet Today
REVERE PRODUCTS: Appoints Moore Stephens Liquidator
ROWE & CO: KPMG Liquidator Enters Firm

S. ARNIE: Goes into Liquidation
S A SMITH: Administrators from DTE Leonard Enter Firm
SHREE LIMITED: Names Administrator from Sharma & Co.
SOUTHERN STEVEDORES: General Meeting Set Next Year
SPINTEC LIMITED: Administrator from MBI Equity Enters Company

TELEWEST GLOBAL: BBC to Meet with Flextech Bidders
TWENTYNINE ELEVEN: Bank of Scotland Appoints Receiver
UK AEROSOLS: Liquidator to Deliver Report November
WILTON GRAPHICS: Creditors Meeting Set Next Week


                            *********


===========================
C Z E C H   R E P U B L I C
===========================


OSKAR HOLDINGS: Ratings Withdrawn Following Debt Redemption
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'B' long-term
corporate credit ratings on Czech mobile operator Oskar Mobil
a.s. and its parent Oskar Holdings N.V. following their
acquisition by Vodafone Group PLC (A/Stable/A-1) and the
subsequent redemption of their debt.  The 'B' bank loan and
senior secured debt ratings on Oskar Mobil were also withdrawn.

Vodafone acquired 100% of Oskar Mobil through its wholly owned
subsidiary Vodafone International Holding B.V. on May 31, 2005.
On June 30, 2005, Oskar Mobil repaid the entire principal
outstanding on its CZK6.6 billion (US$267 million) and EUR40
million credit facility.  On July 7 and July 8, the EUR325
million senior secured notes due 2011 issued by Oskar Mobil and
guaranteed by Oskar Holdings were redeemed in their entirety.

Ratings information is available to subscribers of RatingsDirect
at http://www.ratingsdirect.com It can also be found at
http://www.standardandpoors.com Alternatively, call one of the
following Standard & Poor's numbers: Client Support Europe (44)
20-7176-7176; London Press Office Hotline (44) 20-7176-3605;
Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm
(46) 8-440-5916; or Moscow (7) 095-783-4017.  Members of the
media may also contact the European Press Office via e-mail:
media_europe@standardandpoors.com

CONTACT:  OSKAR MOBIL A.S.
          Vinohradska 167
          Praha 10
          100 00
          Phone: 800 77 77 00
          Web site: http://www.oskar.cz


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


AACHENER VRS: Court to Verify Claims December
---------------------------------------------
The district court of Aachen opened bankruptcy proceedings
against Aachener VRS Massivhaus GmbH on September 14.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until November 11,
2005 to register their claims with court-appointed provisional
administrator Heinrich C. Friedhoff.

Creditors and other interested parties are encouraged to attend
the meeting on December 13, 2005, 10:15 a.m. at the district
court of Aachen, Nebenstelle Augustastrasse, Augustastrasse
78/80, 52070 Aachen, II. Etage, Zimmer 21, at which time the
administrator will present his first report of the insolvency
proceedings.  The court will also verify the claims set out in
the administrator's report during this meeting, while creditors
may constitute a creditors committee and or opt to appoint a new
insolvency manager.

CONTACT:  AACHENER VRS MASSIVHAUS GmbH
          Sandweg 12, 52072 Aachen
          Contact:
          Helga Stang, Manager
          Peter Ramrath, Manager
          Luetticherstrasse 28, 52064 Aachen

          Heinrich C. Friedhoff, Administrator
          Viktoriastrasse 73-75, 52066 Aachen
          Phone: 0241/9491915
          Fax: 0241/9491919


ASTRADENT-DENTAL: Creditors Meeting Set Next Month
--------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against astradent-dental-GmbH on September 14.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until December 14,
2005 to register their claims with court-appointed provisional
administrator Vera Mai.

Creditors and other interested parties are encouraged to attend
the meeting on November 2, 2005, 10:35 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, at which time the administrator will present his first
report of the insolvency proceedings.  The court will also verify
the claims set out in the administrator's report on February 7,
2006, 10:30 a.m. at the same venue.

CONTACT:  ASTRADENT-DENTAL-GmbH
          Georg-Knorr-Str. 4,12681 Berlin

          Vera Mai, Administrator
          Kurfuerstendamm 66, 10707 Berlin


BINGO TAXENBETRIEB: Court Appoints Kuebler Administrator
--------------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Bingo Taxenbetrieb GmbH on September 14.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until December 15,
2005 to register their claims with court-appointed provisional
administrator Sebastian Laboga.

Creditors and other interested parties are encouraged to attend
the meeting on October 25, 2005, 9:40 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, at which time the administrator will present his first
report of the insolvency proceedings.  The court will also verify
the claims set out in the administrator's report on February 21,
2006, 9:45 a.m. at the same venue.

CONTACT:  BINGO TAXENBETRIEB GmbH
          Bergmannstr. 54,10961 Berlin

          Sebastian Laboga, Administrator
          Kuebler
          Einemstr. 24, 10785 Berlin
          Web site: http://www.kuebler-gbr.de


BUHSE GMBH: Succumbs to Bankruptcy
----------------------------------
The district court of Braunschweig opened bankruptcy proceedings
against Buhse GmbH on September 6.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until October 19, 2005 to register their claims
with court-appointed provisional administrator Jan Korber.

Creditors and other interested parties are encouraged to attend
the meeting on November 16, 2005, 11:55 a.m. at the district
court of Braunschweig, E 01, An der Martinikirche 8, 38100
Braunschweig, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report during
this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  BUHSE GmbH
          Im Ruebenkamp 6, 38162 Cremlingen
          Contact:
          Andreas Schweer-Buhse, Manager

          Jan Korber, Administrator
          Museumstrasse 2, D-38100 Braunschweig
          Phone: (0531) 2409620
          Fax: (0531) 2409670


CATERING SOLUTION: Goes Belly up
--------------------------------
The district court of Bonn opened bankruptcy proceedings against
Catering Solution GmbH on September 13.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until December 31, 2005 to register their
claims with court-appointed provisional administrator
Dirk-Henning Tonnesmann.

Creditors and other interested parties are encouraged to attend
the meeting on December 14, 2005, 9:35 a.m. at the district court
of Bonn, Insolvenzgericht, Wilhelmstrasse 21, 53111 Bonn,
1.Stock, Zimmer W 1.25, at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report on March 6, 2006, 9:00 a.m. at the same venue.

CONTACT:  CATERING SOLUTION GmbH
          Marie-Curie-Strasse 3, 53359 Rheinbach
          Contact:
          Arno Mattes, Manager
          Hintere Gasse 15, 53501 Grafschaft

          Dirk-Henning Tonnesmann, Administrator
          Josef-Ruhr-Str. 30, 53879 Euskirchen
          Phone: 02251 / 65081-22
          Fax: 65081-25


DEGUSSA AG: Downturn to Cause Job Losses, Plant Closures
--------------------------------------------------------
Degussa AG warned of further job losses and plant closures as it
unveiled an impairment charge of EUR830 million.

According to Germany's third largest chemicals company, a large
portion of the charge relates to British fine chemicals group
Laporte, acquired in 2001.  Degussa has started revamping the
unit, announcing an initial loss of up to 700 jobs by 2007, said
The Guardian.  The fine chemicals industry has seen downturns
lately partly due to increasing competition from Asian rivals.

Financial Times, in another report, said the impairment charge
came as a result of "unsatisfactory business trends" and a "sharp
reduction in earnings prospects."

The company said the charge will be a one-off non-cash item in
the non-operating results in the third quarter of 2005, and will
not affect its cash flow.  Further measures are expected to bring
total restructuring costs from 2004 up to this year to EUR100
million.

CONTACT:  DEGUSSA AG
          P.O. Box 30 20 43, 40402
          Duesseldorf, Germany
          Phone: +49-211-65 041-294
          Fax: +49-211-65 041-519
          E-mail: Investor.Relations@degussa.com
          Web site: http://www.degussa.com/en


GFL GESELLSCHAFT: Proofs of Claim Due November
----------------------------------------------
The district court of Koln opened bankruptcy proceedings against
gfl Gesellschaft fuer Garten- und Landschaftsbau mbH on September
13.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until November
15, 2005 to register their claims with court-appointed
provisional administrator Dr. Norbert Heimann.

Creditors and other interested parties are encouraged to attend
the meeting on December 6, 2005, 11:15 a.m. at the district court
of Koln, Hauptstelle, Luxemburger Strasse 101, 50939 Koln,
Erdgeschoss, Saal 14, at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  GFL GESELLSCHAFT FUER GARTEN- UND LANDSCHAFTSBAU mbH
          Nussbaumer Berg 20, 51467 Bergisch Gladbach
          Contact:
          Christine Kromm, Manager
          Engstenberger Weg 17, 51377 Leverkusen

          Dr. Norbert Heimann, Administrator
          Spichernstr. 55, 50672 Koln
          Phone: 9595925
          Fax: +49221514437


JENOPTIK AG: Thuringia State Selling Remaining Stake
----------------------------------------------------
The free state of Thuringia revealed on Tuesday its intention to
divest its 14.8% in Jenoptik AG.  No decision has been made so
far about the timing and a possible placement form of the 7.7
million shares.

The free float of Jenoptik AG adds currently up to 79.37%.  A big
portion thereof is held by institutional investors.  The free
state of Thuringia has been sole shareholder of the technology
group from its foundation in 1991 until the IPO in 1998.  The
stake of the free state was gradually reduced to 14.8% after the
public offering at the Frankfurt stock exchange.  With the
intended transaction, the free state continues consequently its
privatization strategy.

                            *   *   *

In June, Fitch Ratings downgraded Jenoptik AG's Senior Unsecured
rating and EUR150 million senior notes to 'B' from 'B+'.  The
Short-term rating is affirmed at 'B'.  The Senior Unsecured
rating Outlook remains Stable.

The downgrade is based on Fitch's concerns over Jenoptik's
corporate governance practices.  In October 2004, Fitch put
Jenoptik on Rating Watch Negative, following the announcement to
integrate caatoosee ag, an IT company with a poor operating track
record and significant liquidity problems in the past. After
discussions with Jenoptik's management, the Rating Watch was
removed and the ratings affirmed, since it was deemed unlikely
that the transaction would progress (see announcement dated 10
December 2004 on http://www.fitchratings.com).

CONTACT:  JENOPTIK AG
          Investor Relations
          Cornelia Todt
          Phone/Fax: ++49(0) 3641-652290/2484

          PR
          Markus Wild
          Phone/Fax: +49(0) 3641-652255/2484
          Web site: http://www.jenoptik.com


MARSEILLE-KLINIKEN: Result from Ordinary Operations Recovers
------------------------------------------------------------
On the basis of preliminary figures for the fiscal year 2004/05,
the Marseille-Kliniken AG (Prime Standard, ISIN DE 0007783003,
MKA) was able to slightly expand sales to EUR201.4 million
(previous year EUR200.1 million).  The result from ordinary
operations improved substantially from -EUR8.8 million in the
previous year to EUR8.8 million.  The earnings for the fiscal
year pursuant to DVFA/SG (HGB) amounted to EUR7.6 million
compared with EUR7.5 million in the previous year.  According to
IFRS a consolidated profit pursuant to DVFA/SG of EUR8.9 million
(previous year: EUR7.9 million) results for the period under
review.  This corresponds to an increase in earnings per share by
EUR0.08 to EUR0.73 (previous year: EUR0.65).

The trend in revenues and earnings in the fiscal year 2004/2005
reflects the different market conditions in the segments Nursing
and Rehabilitation.  In Rehabilitation, the utilization rate was
stabilized at last year's level and amounted to 76.6%.  However,
the division still burdens the revenues and earnings for the
entire group.  The bed capacity declined by 100 beds from 1,772
to 1,672.  Accordingly, revenues declined by additional EUR2.4
million from EUR53.1 million in the previous year and thus
amounted to EUR50.7 million in the period under review. With a
loss of - EUR3.6 million (previous year: - EUR4.0 million) the
division continued to weigh on the overall results.

The main driver of growth still remains the stable profitability
of the core segment Nursing, which accounts for 78% of the
overall bed capacity. With revenues of EUR150.7 million in this
segment the Marseille-Kliniken AG recorded a growth of EUR3.7
million compared with EUR147.0 million one year ago.  The
earnings pursuant to DVFA/SG (HGB) stood at EUR11.2 million and
thus remained at previous year's level (pervious year: EUR11.5
million).  Due to the start-up time of four new facilities and
renovation work at two other facilities the capacity utilization
rate of 90.7% did not quite reach previous year's utilization
rate of 94.3%.  Accordingly, the Group's capacity utilization
rate amounted to 87.5%, which is below the level of 90.0%
achieved one year ago.

The expansion of the Nursing division is being further
progressed.  During the period under review two new facilities
with 238 beds were opened in Dresden and in Hennigsdorf/Berlin.
In addition, the core division Nursing was complemented by the
service segment "Assisted Living."  In the current fiscal year
Marseille-Kliniken AG has started to offer services for the
elderly in three sets of buildings with more than 750 apartments.
The expansion of the service segment "Assisted Living" is a
logical step for the Marseille-Kliniken AG in its broadening of
the range of services offered to the elderly.  The company
already expects a significant earnings contribution from the new
service division in the current fiscal year suggesting higher
returns than stationary care.

Overall, the number of facilities rose from 58 in the past fiscal
year to currently 60.  The number of beds increased slightly from
7,512 to 7,573 due to the new facilities in the Nursing division
despite the decline in the Rehabilitation segment.  With two new
facilities in Dusseldorf and Hamburg and the expansion of the
service division "Assisted Living", the bed capacity will
increase by 1,100 beds in the current fiscal year.

The Marseille-Kliniken AG will also continue its
shareholder-friendly distribution policy this year.  The
Management Board will recommend the Supervisory Board and the
Annual General Meeting to resolve a dividend of EUR0.40 per
share.

Following the approval of the annual financial statements by the
Supervisory Board the annual report for the fiscal year 2004/2005
will be published in mid-October.

CONTACT:  MARSEILLE-KLINIKEN AG
          Axel Holzer, CEO
          Alte Jakobstrasse 79/80
          10709 Berlin
          Phone: 030 / 246 32-400
          Fax: 030/246 32-401

          HILLERMANN CONSULTING
          Christian Hillermann
          Investor Relations
          Eppendorfer Baum 5
          20249 Hamburg
          Phone:040/414 069-13
          Fax: 040/414 069-14


MTR MINERALSTOFF: Rostock Court Calls in Administrator
------------------------------------------------------
The district court of Rostock opened bankruptcy proceedings
against MTR Mineralstoff Terminal Rostock GmbH on September 8.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until October 20, 2005
to register their claims with court-appointed provisional
administrator Dirk Decker.

Creditors and other interested parties are encouraged to attend
the meeting on November 9, 2005, 10:15 a.m. at the district court
of Rostock, Zochstrasse, 18057 Rostock, Saal 330, at which time
the administrator will present his first report of the insolvency
proceedings.  The court will also verify the claims set out in
the administrator's report during this meeting, while creditors
may constitute a creditors committee and or opt to appoint a new
insolvency manager.

CONTACT:  MTR MINERALSTOFF TERMINAL ROSTOCK GmbH
          Contact:
          Sven Fritsche, Manager
          Albrecht-Tischbein-Strasse 46, 18109 Rostock

          Dirk Decker, Administrator
          Stampfmuellerstrasse 39, 18057 Rostock


PROSIEBENSAT.1 MEDIA: Springer Bid for Preference Shares Too Low
----------------------------------------------------------------
Television group Prosiebensat.1 Media is not satisfied with the
takeover offer of Axel Springer Verlag, Suddeutsche Zeitung says.

The company said Springer's bid of EUR14.11 per preference share
is too low and does not reflect its full value.  It is for this
reason that it has refrained from advising shareholders to accept
or reject the offer.  Analysts and representatives of minority
shareholders share the same view, the paper adds.

Nevertheless, experts believe this has no bearing on the
Prosiebensat.1-Springer merger.  Springer has already acquired
the controlling stake of a group of investors led by Haim Saban
for EUR2.5 billion.  This stake gives Springer 88% of the voting
rights.  Springer plans to offer holders of the remaining shares
preference shares in Springer to complete the merger.  The local
anti-trust authority is now reviewing the plan.

ProSiebenSat.1 was formed in 2000 with the merger of Germany's
leading broadcasters ProSieben Media AG and Sat.1.  It is the
largest and most successful television corporation with four
stations -- Sat.1, ProSieben, kabel eins and N24.

CONTACT:  PROSIEBENSAT.1 MEDIA AG
          Medienallee 7
          85774 Unterfohring
          Phone: +49 (89) 95 07-11 80
          Fax: +49 (89) 95 07-11 84

          AXEL SPRINGER VERLAG AG
          Axel-Springer-Str. 65
          10888 Berlin, Germany
          Phone: +49-30-2591-0
          Web site: http://www.asv.de


SECURITY MANAGEMENT: Under Bankruptcy Administration
----------------------------------------------------
The district court of Hagen opened bankruptcy proceedings against
Security Management Germany GmbH on September 19.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until October 14, 2005 to
register their claims with court-appointed provisional
administrator Dr. Jens Uwe Drowatzky.

Creditors and other interested parties are encouraged to attend
the meeting on November 4, 2005, 9:00 a.m. at the district court
of Hagen, Haupthaus (Neubau), Heinitzstrasse 42, 58097 Hagen,
Etage 2, Raum 283, at which time the administrator will present
his first report of the insolvency proceedings.  The court will
also verify the claims set out in the administrator's report
during this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  SECURITY MANAGEMENT GERMANY GmbH
          Plettac-Platz 1, 58840 Plettenberg
          Contact:
          Alexander Hiby, Manager
          Im Ebbe 13, 58849 Herscheid

          Dr. Jens Uwe Drowatzky, Administrator
          Feithstr. 177, 58097 Hagen
          Phone: 02331 10980
          Fax: +492331109830


VOLKSWAGEN AG: Brazilian Workers on Strike Over Profit Sharing
--------------------------------------------------------------
About 6,000 workers at Volkswagen's Brazilian sites in Sao Carlos
and Taubate went on strike Tuesday, said just-auto.com.  This
followed last week's walkout by 12,400 employees of the plant in
Sao Bernardo do Campo.  Workers are said to be pressuring
Volkswagen do Brasil to raise their share in the profit.

Volkswagen has already offered each worker BRL4,700, or around
US$2,000, pegged on an agreed output quota for 2005.  However,
workers are asking the company to increase the share to BRL5,500
(US$2,340) with no production-related conditions.

The strikes are causing an output loss of about 1,000 vehicles a
day in Sao Bernardo, and around 900 in Taubate, said German News,
in another report.  Volkswagen's factory in Sao Jose dos Pinhais,
Parana state, is the only site currently operating.  However,
without the engines made in San Carlos, a decrease in production
is expected.  The Sao Carlos plant builds about 1,600 engines a
day.

AFX News, in another report, revealed that workers at Sao
Bernardo have not yet indicated when they will stage a strike,
while employees at the Taubate site had planned to meet
Wednesday.

CONTACT:  VOLKSWAGEN AG
          Brieffach 1848-2
          38436 Wolfsburg, Germany
          Phone: +49 53 61 90
          Fax: +49 53 61 92 82 82
          Web site: http://www.volkswagen.de

          VOLKSWAGEN DO BRASIL
          Web site: http://www.vw.com.br


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


PARAD KRISTALY: On Sale anew
----------------------------
A court bailiff has scheduled another public tender for
loss-making fine crystal maker, Parad Kristaly, the second this
year, according to MTI-Econews.

The company, which has racked up HUF300 million in debt and
losses, fell into liquidation early this year.  The first tender,
which sought HUF318.5 million, had no takers.  Bailiff Benedek
Pinter is no longer seeking a specific price from interested
buyers, who have until October 10 to table offers.

The former state enterprise was sold to local group Save in
December after posting a EUR200 million loss despite revenues of
HUF1 billion.  Parad exports 70% of its products to the U.S. and
Japan.  It blames the weak dollar for its woes.

CONTACT:  PARAD KRISTALY MANUFAKTURA RT
          Rakoczi ut 46-48,
          Paradsasvar H-3242
          Phone: 36 36 36 40 27
          Fax: 36 36 36 44 94


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


ALITALIA SPA: Main Beneficiary of State Aid for Airline Sector
--------------------------------------------------------------
The government approved Wednesday a financial package for the
airline sector, Agence France-Presse says.

The package, worth between EUR120 million and EUR124 million,
will directly benefit Alitalia in the form of an EUR80 million
injection.  The broader airline sector will benefit from the
overhaul in flight and airport fees.

Deputy Transport Minister Mario Tassone says the measure still
needs the approval of the European Competition Commissioner,
which disallows E.U. members from providing multiple state aids
to national companies in ten years.  Alitalia underwent a EUR1.4
billion state-backed capital restructuring in 1997.

This year, Alitalia plans to raise EUR1.2 billion via a
recapitalization to finance another restructuring and dilute the
government's stake to less than 50%.  The government package
comes just as the underwriters of the recapitalization are having
doubts about its viability amid rising fuel prices that have
materially altered Alitalia's economic outlook.

Already, the recapitalization is behind schedule and the
government is expected to miss the October 8 deadline to bring
down its stake in the airline.  The E.U. Commission set that
deadline last year when it approved a EUR400 million state-backed
bridging loan.

Meanwhile, Alitalia reportedly will present its revised business
plan next week, according to AFX News.  The capital hike's
underwriters, Banca Intesa S.p.A. and Deutsche Bank AG, have
asked Alitalia to revise the plan to reflect material changes in
market conditions.

                        About the Company

Headquartered in Viale A. Marchetti 111, 00148 Rome, Italy,
Alitalia S.p.A. -- http://www.alitalia.it-- generates more than
EUR4 billion in annual revenue and employs more than 20,000
people.  As of December 2004, its net debt stood at EUR1.76
billion in 2004.  Alitalia flies to about 80 destinations in more
than 60 countries from its hubs in Rome and Milan and operates a
fleet of 185 aircraft.  Despite a EUR1.4 billion state-backed
restructuring in 1997 and a EUR1.4 billion capital injection two
years ago, the carrier remains in deep financial crisis.
Alitalia has posted annual profit only four times in the past 16
years.  A turnaround plan approved late 2004 will split the
airline's flight and ground operations, paving the way for its
privatization.  Banca Intesa S.p.A. and Deutsche Bank will
underwrite a EUR1.2 billion rights issue to finance the
restructuring.

CONTACT:  ALITALIA S.p.A.
          Viale A. Marchetti 111
          00148 Rome, Italy
          Phone: +39 06 6562 2151
          Fax: +39 06 6562 4733
          Web site: http://www.alitalia.it


PARMALAT FINANZIARIA: Returns to the Market Stronger than ever
--------------------------------------------------------------
New shares of Parmalat started trading on the Milan Stock
Exchange Thursday, marking its return after almost two years of
absence, the Associated Press says.

Parmalat shares opened at EUR3.15 but closed 4% lower at EUR3.01.
The closing price values Parmalat at EUR4.8 billion, or more than
four times its EUR1.1 billion market capitalization before its
suspension in 2003.

Parmalat administrator Enrico Bondi was pleased with the group's
first-day performance saying, "The price seems a very good one to
me."  He added the result of the relisting only shows "Parmalat's
brand image and product line had not been damaged," adding "the
company can now stand on its own two feet."

In its presentation to analysts, Parmalat said it expects EUR3.78
billion in revenue this year and EUR3.9 billion in 2007.  The
group is aiming to achieve an annual growth rate of 1.4% from
2004 to 2007.

Parmalat's relisting also sparked interest from rivals.  Local
dairy group Granarolo confirmed it would launch a bid soon while
French group Lactalis has hired financial advisers to review a
bid for the dairy giant.

The dairy group's return was made possible by creditors' approval
of its debt-to-equity swap proposal, which would allow
bondholders, banks and suppliers to hold new Parmalat shares at
ratios measured according to seniority of the debt and its
issuer.  Local consumer group Altroconsumo, however, noted that
shareholders in the old Parmalat would not receive new stocks in
the relaunch.  The group added that even former bondholders might
lose majority of their savings.  Altroconsumo said, "The recovery
of Parmalat has yet to be completed and therefore the small
savers who held bonds will continue to suffer huge losses."

Parmalat, which started as a salami business, first traded its
shares in 1989 to finance global expansion.  Founder Calisto
Tanzi turned to the financial markets to raise more cash, selling
stocks in 1990 and later bonds.  Parmalat's heavy reliance on
credit eventually led to its collapse in December 2003, when it
revealed a EUR14 billion hole on its accounts.

Today, the group is ran by Enrico Bondi, a government-appointed
administrator who will become chief executive of the
New Parmalat.  Mr. Bondi has been disposing of the company's
non-core assets and has launched multi-billion euro lawsuits
against several financial institutions.  The administrator
accuses these firms of abetting Parmalat's collapse by concealing
its true financial state and issuing more bonds.  These financial
groups have denied wrongdoings.  Many of them, however, are to
become Parmalat's largest shareholders once the debt-to-equity
swap takes effect: Capitalia S.p.A. with 5.5%; Harbert Distressed
Investment Fund with 2.7%; JP Morgan Chase & Co. with 2.3%; and
Banca Intesa S.p.A. with 2.1%.  Parmalat will meet its
shareholders on Nov. 7.

CONTACT:  PARMALAT FINANZIARIA S.p.A.
          Legal Seat
          43044 Collecchio (Pr)
          Via Oreste Grassi, 26

          Administrative Seat
          20122 Milan
          Piazza Erculea, 9
          Phone: +39 02 806 8801
          Fax: +39 02 869 3863
          Web site: http://www.parmalat.net


PARMALAT U.S.A.: Farmland Trust Objects to Bartlett's Claim
-----------------------------------------------------------
Farmland Dairies LLC entered into a supply agreement with
Bartlett Dairy, Inc., dated November 5, l998, before it filed for
bankruptcy protection.  Farmland listed in its Schedules of
Assets and Liabilities a US$145,118 general unsecured liability
owing to Bartlett Dairy.

On July 9, 2004, Bartlett Dairy filed Claim No. 703 against
Parmalat U.S.A. Corp., asserting an unsecured non-priority claim
for $500,000 based on "defective product, negligent substandard
service, and business tort."  Accordingly, Claim No. 703
superseded the Scheduled Liability.

Subsequently, on July 22, 2005, Bartlett filed a US$1,500,000
unsecured non-priority claim -- Claim No. 755 -- against Farmland
based on the same ground as that of Claim No. 703.

The Debtors have sought disallowance of the Claims, arguing that
Claim Nos. 703 and 755 lack sufficient documentation to establish
liability.

Additionally, the Farmland Dairies LLC Unsecured Creditors' Trust
contends that Claim No. 755 was filed after the Claims Bar Date.

The Farmland Trust argues that Bartlett had ample opportunity to
file Claim No. 755, as evidenced by the timely filing of Claim
No. 703.  Moreover, Bartlett did not obtain leave of the U.S.
Bankruptcy Court for the Southern District of New York to file a
late claim and was not otherwise excused from filing a proof of
claim in accordance with the Bar Date Order.

The Farmland Trust asks the Court to disallow and expunge Claim
No. 755 in its entirety.

Headquartered in Wallington, New Jersey, Parmalat USA
Corporation -- http://www.parmalatusa.com/-- generates more than
EUR7 billion in annual revenue.  The Parmalat Group's 40-some
brand product line includes milk, yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.  It employs over 36,000 workers in 139 plants
located in 31 countries on six continents.  The Company filed for
chapter 11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case
No. 04-11139).  Gary Holtzer, Esq., and Marcia L. Goldstein,
Esq., at Weil Gotshal & Manges LLP, represent the Debtors.  When
the U.S. Debtors filed for bankruptcy protection, they reported
more than $200 million in assets and debts.  The U.S. Debtors
emerged from bankruptcy on April 13, 2005.  (Parmalat Bankruptcy
News, Issue No. 62; Bankruptcy Creditors' Service, Inc.,
215/945-7000)

CONTACT:  PARMALAT U.S.A. CORPORATION
          520 Main Ave.
          Wallington, NJ 07057
          Phone: 973 777 2500
          Fax:   973 777 7648
          Toll Free: 888 727 6252
          Web site: http://www.parmalatusa.com


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


ORIFLAME COSMETICS: To Produce Lipstick with German Supplier
------------------------------------------------------------
On completion of the CIS Supply Center near Moscow in the first
half of 2006, Oriflame Cosmetics intends to initiate lipstick
manufacturing.  In order to achieve this, Oriflame has signed a
heads of agreement with German lipstick moulding machine supplier
Weckerle for them to operate the manufacturing facility.

This strategic partnership covers the full sourcing of lipstick
and related products, covering both the product and packaging,
within Supply Center site.  This meets the Group objectives to
reduce both the total cost of this key product area and also lead
times in order to maintain service levels in its markets.
Oriflame will invest up to EUR4 million over a three-year period
in addition to the earlier communicated investment plans of EUR30
million for the CIS Supply Center.

                        About the Company

Oriflame Cosmetics is a direct-selling international cosmetics
company, with presence in 56 countries.  Oriflame offers a
complete range of high quality skincare, fragrances and color
cosmetics, marketed through a sales force of independent Sales
Consultants.  Oriflame is a co-founder of World Childhood
Foundation.  Oriflame Cosmetics is listed on the Stockholm
Exchange.

For the year ended December 31, 2004, the company posted an
operating profit of EUR109.5 million as operating cash flow
almost doubled to EUR90.5 million.  Net interest bearing debt
also improved to EUR57.5 million, down from EUR189.8 million.
Shareholders' equity remained negative, however, at -EUR34.99
million, as liabilities exceeded total assets of EUR300.8
million.

CONTACT:  ORIFLAME COSMETICS S.A.
          20 rue Philippe II
          L-2340
          Luxembourg
          Web site: http://www.oriflame.com

          Magnus Brannstrom, Chief Executive Officer
          Phone: +32 2 357 5529

          Kevin Kenny, Chief Financial Officer
          Phone: +32 2 357 5544

          Patrik Linzenbold, Investor Relations
          Phone: +32 2 357 5675


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


ROYAL SHELL: Cancels 925,000 'A' Shares at EUR26.74 Each
--------------------------------------------------------
On 5 October 2005, Royal Dutch Shell plc purchased for
cancellation 925,000 'A' Shares at a price of EUR26.74 per share.
It further purchased for cancellation 275,000 'A' Shares at a
price of 1,813.60 pence per share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 4,014,065,000.

As of that date, 2,759,360,000 'B' Shares of Royal Dutch Shell
plc were in issue.

                             *   *   *

Shell's buyback scheme is understood to be aimed at reviving
shareholders' and investors' confidence.  The buyback program
follows a damaging reserves overestimation scandal last year.

                        About the Company

Royal Dutch Shell plc is incorporated in England and Wales, has
its headquarters in The Hague and is listed on the London,
Amsterdam, and New York stock exchanges.  Shell companies have
operations in more than 145 countries with businesses including
oil and gas exploration and production; production and marketing
of Liquefied Natural Gas and Gas to Liquids; manufacturing,
marketing and shipping of oil products and chemicals and
renewable energy projects including wind and solar power.

                           The Trouble

Shell admitted overstating its proved reserves by almost 6.0
billion barrels between January 2004 and February this year.
This led to the ouster of three top executives, including former
Chairman Philip Watts.  The company was fined EUR150 million in
total after investigations launched by U.S. and British
regulators.  Shell has since revised the method by which it
calculates reserves to comply with U.S. regulations.  Shell's
proved reserves stood at 10.2 billion barrels at the end of
2004.

CONTACT:  ROYAL DUTCH/SHELL GROUP OF COMPANIES
          Carel van Bylandtlaan 30
          2596 HR The Hague
          The Netherlands
          Phone: +31 70 377 9111
          Fax: +31 70 377 3115
          Web site: http://www.shell.com


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


ABINSKIY CANNERY: Court Appoints Insolvency Manager
---------------------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy supervision procedure on close joint stock company
Abinskiy Cannery (TIN 2323022358).  The case is docketed as
A-32-12963/2005-37/245-B.  Mr. V. Magdin has been appointed
temporary insolvency manager.  Creditors may submit their proofs
of claim to 350042, Russia, Krasnodar, Kolkhoznaya Str. 3, room
307.

CONTACT:  ABINSKIY CANNERY
          Russia, Krasnodar region,
          Abinsk, Vokzalnaya Str. 37

          Mr. V. Magdin
          Temporary Insolvency Manager
          350042, Russia, Krasnodar region,
          Kolkhoznaya Str. 3, Room 307
          Phone: (861) 275-89-30


AUTO-TRANSPORT ENTERPRISE #12: Succumbs to Bankruptcy
-----------------------------------------------------
The Arbitration Court of Tatarstan republic commenced bankruptcy
proceedings against Auto-Transport Enterprise #12 after finding
the limited liability company insolvent.  The case is docketed as
A65-1926/2005-SG4-27.  Mr. L. Peshkov has been appointed
insolvency manager.  Creditors may submit their proofs of claim
to 423802, Russia, Tatarstan republic, Naberezhnyje Chelny, BSI,
Post User Box 210.

CONTACT:  AUTO-TRANSPORT ENTERPRISE #12
          423802, Russia, Tatarstan republic,
          Naberezhnyje Chelny, BSI, Post User Box 210

          Mr. L. Peshkov
          Insolvency Manager
          423802, Russia, Tatarstan republic,
          Naberezhnyje Chelny, BSI, Post User Box 210


BINOM: Bankruptcy Hearing Set Next Year
---------------------------------------
The Arbitration Court of Khanty-Mansiyskiy autonomous region has
commenced bankruptcy supervision procedure on close joint stock
company Binom.  The case is docketed as A75-7095/2005.  Mr. A.
Yulygin has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to:

(a) BINOM
    628600, Russia, Khanty-Mansiyskiy autonomous region,
    Nizhnevartovsk, South-West Promuzel, Panel 25, 2P-2, #77

(b) Temporary Insolvency Manager
    625003, Russia, Tyumen region,
    Krasina Str. 7, Office 500

(c) The Arbitration Court of Khanty-Mansiyskiy autonomous
    region
    628012, Russia, Tyumen region,
    Khanty-Mansiysk, Lenina Str. 54/1

A hearing will take place on January 16, 2006.


ENERGO-TEKH-PROM: Declared Insolvent
------------------------------------
The Arbitration Court of Moscow commenced bankruptcy proceedings
against Energo-Tekh-Prom after finding the close joint stock
company insolvent.  The case is docketed as A40-11730/05-95-26B.
Mr. D. Pronyushkin has been appointed insolvency manager.
Creditors have until November 10, 2005 to submit their proofs of
claim to 127577, Russia, Moscow, Vysokovoltnyj Pr., 1.

CONTACT:  ENERGO-TEKH-PROM
          127577, Russia, Moscow,
          Vysokovoltnyj Pr. 1

          Mr. D. Pronyushkin
          Insolvency Manager
          127577, Russia, Moscow,
          Vysokovoltnyj Pr. 1


ISENBAEVSKIY BRICKWORKS: Bankruptcy Supervision Procedure Begins
----------------------------------------------------------------
The Arbitration Court of Tatarstan republic has commenced
bankruptcy supervision procedure on close joint stock company
Isenbaevskiy Brickworks.  The case is docketed as
A65-9177/2005-SG4-16.  Mr. A. Kurochkin has been appointed
temporary insolvency manager.

Creditors may submit their proofs of claim to 423815, Russia,
Tatarstan republic, Naberezhnye Chelny, Post User Box 7.  A
hearing will take place on November 22, 2005, 12:30 p.m.

CONTACT:  ISENBAEVSKIY BRICKWORKS
          422222, Russia, Tatarstan republic,
          Agryzskiy region, Isenbaevo

          Mr. A. Kurochkin
          Temporary Insolvency Manager
          423815, Russia, Tatarstan republic,
          Naberezhnye Chelny, Post User Box 7


NEFTEYUGORSKOYE: Claims Filing Period Ends Next Month
-----------------------------------------------------
The Arbitration Court of Samara region commenced bankruptcy
proceedings against Nefteyugorskoye after finding the open joint
stock company insolvent.  The case is docketed as A55-8193/04-13.
Mr. R. Shishkin has been appointed insolvency manager.
Creditors have until November 10, 2005 to submit their proofs of
claim to 443100, Russia, Samara, Lesnaya Str. 9.

CONTACT:  NEFTEYUGORSKOYE
          446000, Russia, Samara region,
          Nefteyugorsk, Promyshlennosti Str. 10

          Mr. R. Shishkin
          Insolvency Manager
          443100, Russia, Samara region,
          Lesnaya Str. 9


NIVA-BOLKHOV: Sets Public Auction October 19
--------------------------------------------
The insolvency manager of open joint stock company Niva-Bolkhov
will sell its property for a starting price of RUB9,238,381 on
October 19, 2005, 3:00 p.m. (local time).  The public auction
will take place at 302010, Russia, Orel, Aviatsionnaya Str. 5.

The list of documentary requirements is available at 302010,
Russia, Orel region, Bolkhov, Lenina Str. 165.  To participate,
bidders must deposit an amount equivalent to 20% of the starting
price to the settlement account 4070281047000140778 at Orlovskiy
OSB # 8595, Orel, BIC 045402601 on or before October 14, 2005.

CONTACT:  NIVA-BOLKHOV (TIN 5704003800):
          Russia, Orel region,
          Bolkhov, Lenina Str. 45

          Insolvency Manager/Bidding Organizer
          302010, Russia, Orel region,
          Aviatsionnaya Str. 5


OAO SIBNEFT: Gazprom Seeks Antitrust Approval for Stake buy
-----------------------------------------------------------
OAO Gazprom on Monday asked clearance from the Federal
Antimonopoly Service for its acquisition of a stake in oil
company OAO Sibneft, Interfax reports citing Igor Volobuev,
deputy head of Gazprom's IT department.

Gazprom recently signed an agreement with Millhouse Capital on
the acquisition of a further 72.663% stake in Sibneft for
US$13.091 billion.  The purchase brings its total shareholding in
Sibneft to 75.679%.

Standard & Poor's Ratings Services revised its outlook on
Sibneft to positive from stable following the announcement.  In
addition, the 'BB-' corporate credit and the 'ruAA-' Russia
national scale ratings on Sibneft were affirmed.  At the same
time, the 'BB-' corporate credit rating on Gazprom was affirmed.
The outlook on Gazprom remains positive.

"The outlook revision on Sibneft reflects Standard & Poor's
expectation that when the acquisition is completed, Sibneft's
credit quality will benefit from its ownership by Gazprom," said
Standard & Poor's credit analyst Elena Anankina.

CONTACT:  OAO SIBNEFT
          Sadovnicheskaya Street 4
          115035 Moscow
          Russia
          Switchboard: +7 (095) 777-3152
          Switchboard fax: +7 (095) 777-3151

     Victor Mishnyakov, Investor Relations
          Phone: +7 (095) 777-3182
          Fax: +7 (095) 777-3114
          E-mail: victorm@sibneft.ru


OJSC URALSIB: 'B-/C' Ratings Affirmed; Outlook Positive
-------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' long-term
and 'C' short-term counterparty credit ratings on Russia-based
Bank URALSIB (OJSC) (URALSIB), formerly Ural - Siberian Bank
(OJSC).  The outlook is positive.

URALSIB was formed from the merger of Ural - Siberian Bank with
its subsidiary Kuzbassugolbank (not rated) and its three sister
banks--retail network bank Avtobank-NIKoil (not rated), corporate
and investment bank IBG NIKoil (not rated), and small regional
Bryansk Narodny Bank (not rated), effective on Oct. 3, 2005.

URALSIB assumes all rights and obligations related to the merged
banks' assets and liabilities.

The merged banks' pro forma consolidated assets and adjusted
equity amounted to Russian ruble (RUR) 169.4 billion ($5.9
billion) and RUR27 billion, respectively, at June 30, 2005.

"The ratings on URALSIB reflect the still risky, albeit
progressively improving, environment in which the bank operates,
the bank's modest core profitability and its relatively high
level of single-name concentrations in loans and deposits," said
Standard & Poor's credit analyst Ekaterina Trofimova.

These negative rating factors are partly mitigated by URALSIB's
growth in core revenues and solid business franchise, which
improves the bank's chances of successful expansion.  The ratings
are also supported by URALSIB's dominant market position in the
Republic of Bashkortostan (BB-/Stable/--) and close relationship
with the regional government.

"The positive outlook reflects URALSIB's potential for successful
development and stronger competitiveness following the merger
with its sister banks," added Ms. Trofimova.

URALSIB's franchise is set to benefit from regional expansion,
greater critical mass, and better cross-selling opportunities
throughout the group.  Moreover, initiatives to diversify the
customer base and business lines are likely to reduce profit
volatility.  However, URALSIB will be vulnerable to any adverse
negative developments in Russia.

Ratings information is available to subscribers of RatingsDirect
at http://www.ratingsdirect.com It can also be found at
http://www.standardandpoors.com Alternatively, call one of the
following Standard & Poor's numbers: Client Support Europe (44)
20-7176-7176; London Press Office Hotline (44) 20-7176-3605;
Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm
(46) 8-440-5916; or Moscow (7) 095-783-4017. Members of the media
may also contact the European Press Office via e-mail:
media_europe@standardandpoors.com

CONTACT:  OJSC URALSIB Bank
          450000, Ufa, Revolutsionnaya Str., 41
          Phone: (3472) 51-95-55


PEREVALOVSKOYE: Undergoes Bankruptcy Supervision Procedure
----------------------------------------------------------
The Arbitration Court of Tyumen region has commenced bankruptcy
supervision procedure on open joint stock company Perevalovskoye.
The case is docketed as A70-5246/3-05.  Mr. A. Katkov has been
appointed temporary insolvency manager.

Creditors may submit their proofs of claim to:

(a) PEREVALOVSKOYE
    Russia, Tyumen region, Perevalovo

(b) Insolvency Manager
    625003, Russia, Tyumen region,
    Krasina Str. 7a, 5th floor, Office 500

(c) The Arbitration Court of Tyumen region
    625012, Russia, Tyumen region,
    Khokhryakova Str. 77a

A hearing will take place on November 22, 2005.


RUD-BAKAL-STROY: Hires A. Lavrov Insolvency Manager
---------------------------------------------------
The Arbitration Court of Chelyabinsk region has commenced
bankruptcy supervision procedure on close joint stock company
Rud-Bakal-Stroy (TIN 7417000790).  The case is docketed as
A76-24869/05-36-100.  Mr. A. Lavrov has been appointed temporary
insolvency manager.  Creditors have until October 10, 2005 to
submit their proofs of claim to 456208, Russia, Chelyabinsk
region, Zlatoust, Post User Box 2234.

CONTACT:  RUD-BAKAL-STROY
          456900, Russia, Chelyabinsk region,
          Bakal, Kooperativnaya Str. 16

          Mr. A. Lavrov
          Temporary Insolvency Manager
          456208, Russia, Chelyabinsk region,
          Zlatoust, Post User Box 2234


STERLIKAMSKIY: Deadline for Proofs of Claim Monday
--------------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on factory of building materials
Sterlikamskiy (TIN 0268016332).  The case is docketed as
A07-27944/05-G-ADM.  Mr. R. Shuvarov has been appointed temporary
insolvency manager.

Creditors have until October 10, 2005 to submit their proofs of
claim to 453102, Russia, Bashkortostan republic, Ufa,
Sterlitamak, Dzhambula Str. 5.  A hearing will take place on
December 7, 2005, 10:00 a.m. at the Arbitration Court of
Bashkortostan republic.

CONTACT:  STERLIKAMSKIY FACTORY OF BUILDING MATERIALS
          Russia, Bashkortostan republic,
          Sterlitamak, Dzhambula Str. 5

          Mr. R. Shuvarov
          Temporary Insolvency Manager
          453102, Russia, Bashkortostan republic,
          Ufa, Sterlitamak, Dzhambula Str. 5


YUKOS OIL: Loses Appeal on 2000 Tax Arrears
-------------------------------------------
Russia's Supreme Arbitration Court on Tuesday rejected an appeal
by Yukos Oil on a US$3.45 billion back-tax bill for 2000, reports
say.

Yukos' main argument was the expiration of the statute of
limitations.  But the court said the limitation does not apply to
companies with a pattern of delinquent payments.

The defeat raises fear the company's remaining assets will be
seized.  Last week, court bailiffs issued a warrant freezing the
firm's properties.  The warrant will take effect when the Tuesday
ruling is published.  That could be in 10 to 12 days, company
spokesperson Claire Davidson said Tuesday.  According to her, the
company is still appealing back-tax claims for 2001 through 2004.

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection in December 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  A few days after, its main production
unit Yugansk was sold by the government to a little-known firm
OOO Baikalfinansgroup for US$9.35 billion.  The sale was aimed at
paying for a US$27.5 billion tax bill for 2000-2003.  Its
bankruptcy case was dismissed in February.  Yukos has only paid
US$11 billion so far, according to tax authorities.

Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H. Biery,
Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq., R. Andrew
Black, Esq., Fulbright & Jaworski, LLP, represent the Debtor in
its restructuring efforts.  When the Debtor filed for protection
from its creditors, it listed US$12,276,000,000 in total assets
and US$30,790,000,000 in total debt.

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com/
          International Information Department
          Hugo Erikssen
          Phone: +7 095 540 6313
          E-mail: inter@yukos.ru

          Investor Relations Contact
          Alexander Gladyshev
          Phone: +7095 788 00 33
          E-mail: investors@yukos.ru


YUKOS OIL: Prosecutors Raid Offices
-----------------------------------
Dutch and Russian authorities on Wednesday searched the offices
of Yukos Oil in Russia and Yukos Finance B.V. in The Netherlands
as part of a US$7 billion money-laundering probe.

The offices raided were those of Yukos' accounting arm; ALM
Feldmans, a corporate law firm previously hired by Yukos; and a
building in Zhukovka-88, a development in the Moscow region where
former Yukos CEO Mikhail Khodorkovsky's counsel, Anton Drel,
holds office.

Russia's prosecutor's office said its search of the Trust
Investment Bank, National Bank Trust and other Moscow companies
connected to Yukos is nearly complete.  Prosecutors have accused
Yukos officials of illegally using tax exemptions in some regions
in Russia to evade taxes.  They claim Yukos used Fargoil and
another trading arm, Ratibor, to transfer out of the country
billions of dollars in revenues from crude oil sales between 2000
and 2003.

Yukos denies the allegation saying its trading revenues via
Fargoil and Ratibor were consolidated onto its financial reports
according to Western standards.  It also said the law at the time
allows the tax breaks it availed.

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection in December 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  A few days after, its main production
unit Yugansk was sold by the government to a little-known firm
OOO Baikalfinansgroup for US$9.35 billion.  The sale was aimed at
paying for a US$27.5 billion tax bill for 2000-2003.  Its
bankruptcy case was dismissed in February.  Yukos has only paid
US$11 billion so far, according to tax authorities.

Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H. Biery,
Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq., R. Andrew
Black, Esq., Fulbright & Jaworski, LLP, represent the Debtor in
its restructuring efforts.  When the Debtor filed for protection
from its creditors, it listed US$12,276,000,000 in total assets
and US$30,790,000,000 in total debt.

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com/
          International Information Department
          Hugo Erikssen
          Phone: +7 095 540 6313
          E-mail: inter@yukos.ru

          Investor Relations Contact
          Alexander Gladyshev
          Phone: +7095 788 00 33
          E-mail: investors@yukos.ru


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


IZAR: Invites Bids for Shipyards
--------------------------------
IZAR Construcciones Navales S.A., en Liquidacion, will sell the
assets in its shipyards in Sestao, Seville and Gijon, and those
in the Manises engine factory.

For this purpose, a formal process of sale of assets is
commencing, to which all interested parties that fulfill a series
of objective requirements are invited.  The Boston Consulting
Group S.L. has been selected as the advisor in this process.

In order to obtain all information regarding the process of the
Sale of Assets and on the requirements needed to be eligible,
those interested parties shall express their wish to take part in
the process through a written communication received before
October 17, 2005 at 13:00 local time in Madrid (Spain),
addressing it to the attention of:

IZAR Construcciones Navales S.A., en Liquidacon
Direccion General de Administracion
Referencia: Venta de Activos de IZAR (CONFIDENCIAL)
C/ Velazquez 132, 8 planta
28006 Madrid
Fax: 34-91 335 86 33
E-mail: venta-activos@izar.es

Upon receipt of such declaration of interest, IZAR will send a
list of the documentation required, which will also be available
through http://www.izar.esand http://www.sepi.es

Such documentation shall be received at the above-mentioned
address before October 19, 2005 at 13:00 local time in Madrid, by
written communication, as a requirement to receive the
Information Memorandum.

CONTACT:  IZAR CONSTRUCCIONES NAVALES a.s.
          Velazquez Street 132
          28006 Madrid, Spain
          Phone: +34 91 335 84 00
          Fax: +34 91 335 86 52
          E-mail: izar@izar.es
          Web site: http://www.izar.es

          SOCIEDAD ESTATAL DE PARTICIPACIONES INDUSTRIALES
          Velasquez, 134
          28006 Madrid, Spain
          Phone: +34-91-396-10-00
          Fax: +34-91-562-87-89
          Web site: http://www.sepionline.com


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


SKANDIA INSURACE: Hiring Goldman Sachs to Fend off Hostile Bid
--------------------------------------------------------------
Skandia Insurance Co. Ltd. is reportedly naming Goldman Sachs as
adviser in its battle to ward off a bid from Old Mutual plc.

According to Reuters, the Skandia board feels the need to replace
Morgan Stanley, which had been hired to find the insurer a buyer.
Goldman Sachs and Morgan Stanley refused to comment on the
report, while a spokeswoman for Skandia could not be reached.

The move reflects a change in Skandia's position towards the
offer, after the board initially said it would cooperate with Old
Mutual.  Old Mutual Chief Executive Jim Sutcliffe has said that
majority of shareholders representing 60% of the capital and
votes in Skandia are in favor of the bid.

Financial Times, in another report, said the change of adviser
signals Skandia's effort to stay as a standalone business.
Morgan Stanley's fairness opinion in favor of Old Mutual's offer
makes it difficult for the bank to defend Skandia against the
takeover, added the paper.

Dow Jones reported Monday that minority shareholder Robur has
snubbed Old Mutual's offer, stressing it was too low and that a
merger would generate only limited synergies.  The rejection has
brought the percentage of those against the GBP3.2 billion offer
to around 8%.

Old Mutual remains unruffled despite the opposition and still
aims for 100% acceptance.

CONTACT:  SKANDIA INSURANCE COMPANY LTD.
          Sveavagen 44
          S-103 50 Stockholm, Sweden
          Phone: +46-8-788-1000
          Fax: +46-8-788-3080
          Web site: http://www.skandia.com

          Bjorn Bjornsson
          Vice Chairman
          Phone: +46-8-788 25 00

          Jan-Mikael Bexhed
          General Counsel
          Phone: +46-8-788 25 00

          OLD MUTUAL PLC
          Investor Relations
          Andrew Parkins
          Phone: +44 (0) 20 7002 7264
          Media Relations
          Miranda Bellord
          Phone: +44 (0) 20 7002 7133
          Web site: http://www.oldmutual.com


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


ABB LTD.: Buys back CHF392 Million Bonds due 2009
-------------------------------------------------
ABB Ltd. has repurchased a total of CHF392 million of its CHF500
million, 3.75% bonds due 2009.

Michel Demare, ABB's chief financial officer, said: "These
transactions are in line with our financial strategy to reduce
on- and off-balance sheet obligations and lower financing costs,
so long as such measures make economic sense for ABB."

The repurchased bonds were cancelled on October 4, 2005 leaving a
remaining nominal amount outstanding of CHF108 million.

                        About the Company

ABB Ltd. -- http://www.abb.com-- is a leader in power and
automation technologies that enable utility and industry
customers to improve performance while lowering environmental
impact.  The ABB Group of companies operates in more than 100
countries and employs about 146,000 people.  As of Dec. 31, 2004,
ABB listed US$24,677,000,000 in total assets and US$5,534,000,000
in total debt.

S&P rates ABB's 3-3/4% US$500 million note due on Sept. 30, 2009,
at BB-, while Moody's assigns its Ba2 rating on the same note.

ABB Ltd.'s U.S. subsidiary, Combustion Engineering, Inc., filed
for chapter 11 protection on February 17, 2003 (Bankr. D. Del.
Case No. 03-10495), and delivered its prepackaged plan to the
U.S. Bankruptcy Court for the District of Delaware that day to
halt and resolve the tide of asbestos-related personal injury
suits brought against the companies.  Over the dozen years prior
to the chapter 11 filing -- according to information obtained
from http://www.LitigationDataSource.com-- the number of claims
against Combustion Engineering, its affiliates, ABB and former
joint venture partners, skyrocketed.  When the Debtor filed for
protection from its creditors, it estimated more than US$100
million in assets and debt.

                    Bankruptcy Professionals

Jeffrey N. Rich, Esq., at Kirkpatrick & Lockhart LLP, and Laura
Davis Jones, Esq., at Pachulski, Stang, Ziehl, Young, Jones &
Weintraub, P.C., represent Combustion Engineering.

The Blackstone Group, L.P., provides CE with financial advisory
services.

David M. Bernick, Esq., at Kirkland & Ellis, provides legal
advice to ABB.

The CE Settlement Trust, holding the largest unsecured claim
against CE's estate, is represented by Hasbrouck Haynes, Jr. CPA,
at Haynes Downard Andra & Jones LLP.

CONTACT:  ABB LTD.
          Affolternstrasse 44
          CH-8050 Zurich, Switzerland
          Investor Relations
          Switzerland
          Phone: +41 43 317 7111
          Sweden
          Phone: +46 21 325 719
          USA
          Phone: +1 203 750 7743


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


ERDEMIR DEMIR: S&P Frowns Over Share Disposal
---------------------------------------------
Standard & Poor's Ratings Services revised its CreditWatch
implications on the 'BB-' long-term corporate credit rating on
Turkish steelmaker Eregli Demir ve Celik Fabrikalari T.A.S.
(Erdemir) to negative from developing.  The ratings were
initially placed on CreditWatch with developing implications on
Aug. 10, 2005.

"The CreditWatch revision follows the acquisition of 49% of the
share capital of Erdemir by Ordu Uardimlasma Kurumu (OYAK; not
rated)," said Standard & Poor's credit analyst Olivier Beroud.
"The revision also reflects the uncertainty concerning Erdemir's
future operational strategy and its financial policy after the
sale of the Turkish government's 49% stake in the company," added
Mr. Beroud.  Additional uncertainties include a lawsuit
challenging the creation of a golden share that gives veto rights
to the privatization administration over certain decisions, and
the resignation of the general manager of Erdemir as well as the
general manager of its 91%-owned subsidiary, Isdemir.

The extent to which parentage affects the ratings on Erdemir will
depend on several factors, including Erdemir's strategic
importance to its new owners.  A takeover by a Turkish owner
cannot lead to the rating on Erdemir being raised, given that the
rating is limited by country risks.  A change of ownership could
have neutral or negative implications for Erdemir's operational
strategy and financial policy, hence a CreditWatch placement with
negative implications.

"Resolution of the CreditWatch placement will be dependent on
Standard & Poor's monitoring Erdemir's development and
understanding OYAK's strategy," said Mr. Beroud.

Ratings information is available to subscribers of RatingsDirect
at http://www.ratingsdirect.com It can also be found at
http://www.standardandpoors.com Alternatively, call one of the
following Standard & Poor's numbers: Client Support Europe (44)
20-7176-7176; London Press Office Hotline (44) 20-7176-3605;
Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm
(46) 8-440-5916; or Moscow (7) 095-783-4017. Members of the media
may also contact the European Press Office via e-mail:
media_europe@standardandpoors.com


KOCBANK: Long-term 'BB-' Rating Affirmed After YKB Acquisition
--------------------------------------------------------------
Fitch Ratings has affirmed Kocbank's Long-term, Short-term,
Support and Individual ratings.  The Outlook on Kocbank's
Long-term ratings is Stable.

The rating action follows the acquisition on 28 September 2005 of
57.4% of Yapi ve Kredi Bankasi from Cukurova Group and Savings
Deposit Insurance Fund by Kocbank, which is 99.8%-owned by Koc
Financial Services.  KFS is a 50-50 joint venture between Koc
Holding and UniCredito Italiano (UCI, rated Long-term
'AA-').

YKB's Long-term and Support ratings are also upgraded to be in
line with those of Kocbank and to reflect the higher potential
support YKB can expect to receive in case of need from KFS.

Banu Cartmell, director in Financial Institutions at Fitch, said:
"Cukurova has used the proceeds of the transaction to pay back a
substantial portion of the debt, reducing the total amount owed
to YKB to US$0.8 billion from US$2.2 billion.  The high level of
Cukurova debt was one of the main drivers of its former
Individual 'E' rating."

The RWP for YKB's Individual rating also reflects the positive
impact from KFS's plans to reduce the non-core assets that
impinge on bank's free capital.  It is expected that UCI will
provide YKB with the same advanced risk management systems that
it used after its purchase of 50% of KFS in 2002.  However, Fitch
will be monitoring any adjustments to be made to YKB's pension
fund, non-core assets and fixed assets, as well as its effects on
capitalization at the time of expected merger of YKB and Kocbank.

Kocbank is the fifth largest private sector bank in Turkey with
3.40% shares in total Turkish unconsolidated banking assets
according to Banking Regulatory and Supervisory Agency guidelines
at end-H105.

Ratings Affected:

LTFC rating affirmed at 'BB-', Outlook Stable

LTLC rating affirmed at 'BB+', Outlook Stable

Support rating affirmed at '3'

STFC and STLC ratings affirmed at 'B'

Individual rating affirmed at 'D'

National Long-term rating affirmed at 'AA-(tur)'; Outlook Stable

CONTACT:  KOCBANK
          Barbaros Bulvari, Morbasan Sokak Koza
          Is Merkezi C Blok 80700
          Balmumcu Besiktas, Istanbul
          Phone: +90 212 274 77 77
          Fax: +90 212 274 65 49
          E-mail: bilgi@kocbank.com.tr
          Web site: http://www.kocbank.com.tr/kocbank/english

          FITCH RATINGS
          Banu Cartmell, London
          Phone: +44 207 417 4373
          Ed Thompson, New York
          Phone: +1 212 908 0364
          Gulcin Orgun
          Turda Ozmen, Istanbul
          Phone: +90 212 279 10 65
          Web site: http://www.fitchratings.com

          Media Relations
          Jon Laycock, London
          Phone: +44 20 7417 4327


YAPI VE KREDI: Ratings Upgraded; Outlook Stable
-----------------------------------------------
Fitch Ratings has upgraded Yapi ve Kredi Bankasi A.S.'s (YKB)
Long-term, foreign and local currency ratings and removed them
from Rating Watch Positive (RWP).  A Stable Outlook is now in
place.  The Individual rating is also upgraded and maintained on
RWP.  Its National Long-term and Support ratings are also
upgraded while the Short-term ratings are affirmed.  The Outlook
on National Long-term rating is Stable.

The rating action follows the acquisition on 28 September 2005 of
57.4% of YKB from Cukurova Group and Savings Deposit Insurance
Fund by Kocbank, which is 99.8%-owned by Koc Financial Services.
KFS is a 50-50 joint venture between Koc Holding and UniCredito
Italiano (UCI, rated Long-term 'AA-').

YKB's Long-term and Support ratings are upgraded to be in line
with those of Kocbank and to reflect the higher potential support
YKB can expect to receive in case of need from KFS.

Banu Cartmell, director in Financial Institutions at Fitch, said:
"Cukurova has used the proceeds of the transaction to pay back a
substantial portion of the debt, reducing the total amount owed
to YKB to US$0.8 billion from US$2.2 billion.  The high level of
Cukurova debt was one of the main drivers of its former
Individual 'E' rating."

The RWP for YKB's Individual rating also reflects the positive
impact from KFS's plans to reduce the non-core assets that
impinge on bank's free capital.  It is expected that UCI will
provide YKB with the same advanced risk management systems that
it used after its purchase of 50% of KFS in 2002.  However, Fitch
will be monitoring any adjustments to be made to YKB's pension
fund, non-core assets and fixed assets, as well as its effects on
capitalization at the time of expected merger of YKB and Kocbank.

YKB is fourth largest private sector bank in Turkey with 7.35%
shares in total Turkish unconsolidated banking assets according
to Banking Regulatory and Supervisory Agency guidelines at
end-H105.  YKB is a domestic market leader in retail banking.

Ratings Affected:

Long-term foreign currency (LTFC) rating upgraded to 'BB-' from
'B+', Outlook Stable

Long-term local currency (LTLC) rating upgraded to 'BB+' from
'B+', Outlook Stable

STFC and STLC ratings affirmed at 'B'

Individual rating upgraded to 'D/E' from 'E'; On Rating Watch
Positive

Support rating upgraded to '3' from '4'
National Long-term rating upgraded to 'AA-(tur)' from
'BBB+(tur)', Outlook Stable

CONTACT:   YAPI VE KREDI BANKASI A.S.
           Yapi ve Kredi Plaza D Blok
           Levent 34330 Istanbul, Turkey
           Fax: (90 212) 339 61 05
           E-mail: yapikredi_investorrelations@ykb.com

           FITCH RATINGS
           Banu Cartmell, London
           Phone: +44 207 417 4373
           Ed Thompson, New York
           Phone: +1 212 908 0364
           Gulcin Orgun
           Turda Ozmen, Istanbul
           Phone: +90 212 279 10 65
           Web site: http://www.fitchratings.com

           Media Relations
           Jon Laycock, London
           Phone: +44 20 7417 4327


=============
U K R A I N E
=============


EKOMASH: Court Appoints Temporary Insolvency Manager
----------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on Private Production-Commercial Enterprise
Ekomash (code EDRPOU 32513622) on August 19, 2005.  The case is
docketed as B 40/123/05.  Ms. Roza Romashko (License Number AA
630128) has been appointed temporary insolvency manager.

CONTACT:  EKOMASH
          49000, Ukraine, Dnipropetrovsk region,
          Shelgunov Str. 2-b/39

          Ms. Roza Romashko,
          Temporary Insolvency Manager
          49070, Ukraine, Dnipropetrovsk region,
          Moskovska Str. 6/301, 305
          Phone: 8 (056) 778-12-49, 778-12-46

          ECONOMIC COURT OF DNIPROPETROVSK REGION
          49600, Ukraine, Dnipropetrovsk region,
          Kujbishev Str. 1a


FORTSHRITT ERNTEMASHINEN: Declared Insolvent
--------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against Fortshritt Erntemashinen Berdyansk (code
EDRPOU 19360221) on August 11, 2005 after finding the limited
liability company insolvent.  The case is docketed as 25/126.
Ms. Oleksandra Mitrofanova (License Number AA 216986) has been
appointed liquidator/insolvency manager.  The company holds
account number 26003208005001 at CB Privatbank, Berdyansk branch,
MFO 313656.

CONTACT:  FORTSHRITT ERNTEMASHINEN BERDYANSK
          71100, Ukraine, Zaporizhya region,
          Berdyansk, Geroiv Stalnigrada Str. 1

          Ms. Oleksandra Mitrofanova,
          Liquidator/Insolvency Manager
          71116, Ukraine, Zaporizhya region,
          Berdyansk, Pionerska, 67/59

          ECONOMIC COURT OF ZAPORIZHYA REGION
          69001, Ukraine, Zaporizhya region,
          Shaumyana Str. 4


LENINSKE: Insolvency Manager Steps in
-------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Leninske (code EDRPOU 03741567) on August 16,
2005 after finding the limited liability company insolvent.  The
case is docketed as B 24/192/05.  Ms. Roza Romashko (License
Number AA 630128) has been appointed liquidator/insolvency
manager.

CONTACT:  LENINSKE
          52561, Ukraine, Dnipropetrovsk region,
          Sinelnikove district,
          Novooleksandrivka, Lenin Str. 1

          Ms. Roza Romashko
          Temporary Insolvency Manager
          49070, Ukraine, Dnipropetrovsk region,
          Moskovska Str. 6/301, 305
          Phone: 8 (056) 778-12-49, 778-12-46

          ECONOMIC COURT OF DNIPROPETROVSK REGION
          49600, Ukraine, Dnipropetrovsk region,
          Kujbishev Str. 1a


LUKSIMPEKS: Bankruptcy Supervision Starts
-----------------------------------------
The Economic Court of Sumi region commenced bankruptcy
supervision procedure on LLC Luksimpeks (code EDRPOU 21113352) on
August 18, 2005.  The case is docketed as 12/79-05.  Mr. Korobka
Roman (License Number AA 779130) has been appointed temporary
insolvency manager.  The company holds account number 26005310385
at Prominvestbank, Krolevets branch, MFO 337676.

CONTACT:  LUKSIMPEKS
          40500, Ukraine, Sumi region,
          Krolevets, Lenin str.

          Mr. Korobka Roman,
          Temporary Insolvency Manager
          40030, Ukraine, Sumi region,
          Kozatskij Val Str. 2 A/4
          Phone: 8 (066) 580-45-24

          ECONOMIC COURT OF SUMI REGION
          40177, Ukraine, Sumi region,
          Shevchenko Avenue 18/1


MOLOCHNIK: Names Ludmila Alekseyeva Temporary Insolvency Manager
----------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
supervision procedure on LLC Molochnik (code EDRPOU 20506747) on
August 17, 2005.  The case is docketed as 19/165/05.  Ms. Ludmila
Alekseyeva (License Number AA 668254) has been appointed
temporary insolvency manager.  The company holds account number
260011282 at JSPPB Ava, Zaporizhya regional branch, MFO 313827.

CONTACT:  MOLOCHNIK
          71100, Ukraine, Zaporizhya region,
          Velika Bilozerka, Travneva Str. 24

          Ms. Ludmila Alekseyeva,
          Temporary Insolvency Manager
          70410, Ukraine, Zaporizhya region,
          Zaporizhya district, Lukashevo,
          Shasliva Str. 5

          ECONOMIC COURT OF ZAPORIZHYA REGION
          69001, Ukraine, Zaporizhya region,
          Shaumyana Str. 4


NEDRIGAJLIVSKE AUTO 15943: Falls into Bankruptcy
------------------------------------------------
The Economic Court of Sumi region commenced bankruptcy
supervision procedure on OJSC Nedrigajlivske Auto Transport
Enterprise 15943 (code EDRPOU 03118713) on June 29, 2005.  The
case is docketed as 6/55-05.  Mr. Andrij Sisoyev (License Number
AA 485260) has been appointed temporary insolvency manager.  The
company holds account number 2600930130005 at OJSC Oshadbank,
Nedrigajlivske branch 3235, MFO 337706.

CONTACT:  NEDRIGAJLIVSKE AUTO TRANSPORT ENTERPRISE 15943
          42100, Ukraine, Sumi region,
          Nedrigajlivskij district, Vilshana,
          Lenin Str. 16

          Mr. Andrij Sisoyev
          Temporary Insolvency Manager
          40022, Ukraine, Sumi region,
          Harkivska Str. 105
          Phone: 33-03-77

          ECONOMIC COURT OF SUMI REGION
          40477, Ukraine, Sumi region,
          Shevchenko Avenue 18/1


PIVDENTRANSKARGO: Under Bankruptcy Supervision
----------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on LLC Pivdentranskargo (code EDRPOU
25530012) on August 11, 2005.  The case is docketed as B
24/172/05.  Mr. Igor Morozov (License Number AA 419481) has been
appointed temporary insolvency manager.  The company holds
account number 26002237 at JSCB Novij, Dnipropetrovsk branch, MFO
305062.

CONTACT:  PIVDENTRANSKARGO
          Ukraine, Dnipropetrovsk region,
          Sverdlov Str. 6

          ECONOMIC COURT OF DNIPROPETROVSK REGION
          49600, Ukraine, Dnipropetrovsk region,
          Kujbishev Str. 1a


SONAT: Undergoes Bankruptcy Supervision Procedure
-------------------------------------------------
The Economic Court of Kyiv region has commenced bankruptcy
supervision procedure on CJSC Sonat (code EDRPOU 23493956).  The
case is docketed as 44/341-b.  Mr. Sergij Krupenko (License
Number AA 668345) has been appointed temporary insolvency
manager.  The company holds account number 26007300113901 at JSCB
Kyiv region, Minska branch, MFO 320605.

CONTACT:  SONAT
          Ukraine, Kyiv region,
          Polyarna Str. 8

          Mr. Sergij Krupenko
          Temporary Insolvency Manager
          02183, Ukraine, Kyiv region, a/b 93

          ECONOMIC COURT OF KYIV REGION
          01030, Ukraine, Kyiv region,
          B. Hmelnitskij Boulevard, 44-B


SOVINTEKS: Insolvency Manager Takes over Operations
--------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Sovinteks (code EDRPOU 32448344) on August
19, 2005 after finding the private production-commercial
enterprise insolvent.  The case is docketed as B 40/122/05.  Ms.
Roza Romashko (License Number AA 630128) has been appointed
liquidator/insolvency manager.

CONTACT:  SOVINTEKS
          49000, Ukraine, Dnipropetrovsk region,
          Ovrazhna Str. 50

          Ms. Roza Romashko
          Temporary Insolvency Manager
          49070, Ukraine, Dnipropetrovsk region,
          Moskovska Str. 6/301, 305
          Phone: 8 (056) 778-12-49
                         778-12-46

          ECONOMIC COURT OF DNIPROPETROVSK REGION
          49600, Ukraine, Dnipropetrovsk region,
          Kujbishev Str. 1a


YASNOGIRSKE: Donetsk Court Opens Bankruptcy Proceedings
-------------------------------------------------------
The Economic Court of Donetsk region has commenced bankruptcy
proceedings against Yasnogirske (code EDRPOU 30791812) after
finding the limited liability company insolvent.  The case is
docketed as 27/42 B.  Mr. A. Buryak (License Number AA 783120)
has been appointed liquidator/insolvency manager.

CONTACT:  YASNOGIRSKE
          Ukraine, Donetsk region,
          Kramatorsk, Rublyov Str. 19-2

          Mr. A. Buryak
          Liquidator/Insolvency Manager
          Ukraine, Donetsk region,
          Druzhkivka, Lvivska Str. 36

          ECONOMIC COURT OF DONETSK REGION
          83048, Ukraine, Donetsk region,
          Artema Str. 157


ZNAMYANSKA SUGAR: Succumbs to Bankruptcy
----------------------------------------
The Economic Court of Kirovograd region commenced bankruptcy
supervision procedure on CJSC Znamyanska Sugar Company (code
EDRPOU 31446388) on August 15, 2005.  The case is docketed as
10/127.  Ms. Knobloh Irina (License Number AA 719895) has been
appointed temporary insolvency manager.  The company holds
account number 26008312514001 at CB Privatbank, Kirovograd
branch, MFO 323583.

CONTACT:  ZNAMYANSKA SUGAR COMPANY
          Ukraine, Kirovograd region,
          Znamyanskij district, Volodimirivka

          Ms. Knobloh Irina
          Temporary Insolvency Manager
          Ukraine, Kirovograd region,
          Timiryazev Str. 49/19-7

          THE ECONOMIC COURT OF KIROVOGRAD REGION
          25022, Ukraine, Kirovograd region,
          Lunacharski Str. 29


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


ABICHELIN LIMITED: Calls in Liquidator
--------------------------------------
A. Cowling, Director of Abichelin Limited, informs that a Meeting
of Creditors of the Company will be held at the offices of Parkin
S. Booth & Co., 44 Old Hall Street, Liverpool L3 9EB, on 17
October 2005 at 11:30 a.m.

Paul J. Fleming of Parkin S. Booth & Co., 44 Old Hall Street,
Liverpool L3 9EB is the person qualified to act as Insolvency
Practitioner for the company.

CONTACT:  ABICHELIN LTD.
          11A Little Stonegate
          York, YO1 8AX
          Phone: 01904 629818


ALLIANCE RESOURCES: Liquidator Calls Creditors Meeting
------------------------------------------------------
J. S. French, Liquidator of Alliance Resources Plc, informs that
Final Meetings of Members and Creditors of the Company will be
held at 67 Butts Green Road, Hornchurch, Essex RM11 2JS, on 3
November 2005, at 10:30 a.m. and 10:45 a.m. respectively

Proxies to be used at the Meetings must be lodged with the
Liquidator at 43-45 Butts Green Road, Hornchurch, Essex RM11 2JX,
no later than 12:00 noon on the preceding business day.

CONTACT:  ALLIANCE RESOURCES PLC
          12 St. Jamess Square, London SW1Y 4LB
          Phone: 02078496103


AMEY PLC: Joint Venture Deal Extended until 2008
------------------------------------------------
EduAction, a joint venture formed by Amey plc and Nord Anglia
Education plc, has been awarded a contract extension with London
borough of Waltham Forest Council, in a continued drive to
improve educational standards in the area.

EduAction was awarded the GBP200 million Waltham Forest Council
contract in September 2001 with a mandate to provide a
comprehensive range of services to schools within the Borough and
deliver major improvements in educational standards over a period
of five years.  Waltham Forest Council has agreed to extend the
current contract with EduAction until 31 March 2008.

The contract extension aims to further support continuing
educational attainment, as well as helping the Council to respond
effectively to the Children Act.  EduAction will continue to have
responsibility for developing strategies and delivering services
covering school improvement, management support, social inclusion
and special educational needs.

Cabinet Member for Lifelong Learning, Chris Robbins, said: "In
two years, Waltham Forest has moved from being an education
authority judged by OfSTED as "unsatisfactory" to one that in
early 2005 was found to be highly satisfactory.  EduAction has
played a vital role in this rapid and sustainable improvement."

Ron Gray, EduAction managing director, said: "We are delighted at
the Council's decision to extend the contract with EduAction.
Working in partnership with the Council and schools has meant
that the children and young people of the Borough are creating
real improvements that make Waltham Forest a place where we can
all be confident that there are increasingly good opportunities
for everyone."

Mel Ewell, Amey's chief executive, said: "Amey and Nord Anglia
Education, our joint venture partner, have worked hard in this
unique partnership with Waltham Forest Council to successfully
deliver improved educational attainment for schools in the area.
Through this contract extension we are committed to enhancing
even further the standard of education for the young people and
teachers of the borough."

Andrew Fitzmaurice, the chief executive officer of Nord Anglia
Education, said: "I am absolutely delighted that we have been
able to renew the EduAction contract.  It's a reflection of the
success and strength of our strategic partnership with the London
Borough of Waltham Forest and recognition of the excellent
efforts of the EduAction management team and staff.   We are very
much looking forward to continuing to work together to deliver
high quality services and improved educational standards for the
pupils, parents and schools of Waltham Forest."

                        About the Company

Amey plc provides support services from transportation to
education, defense and health, working with major organizations
in the public and private sectors.  It has around 7,500 people at
more than 150 locations across the United Kingdom and Ireland,
and a turnover of over GBP1 billion.

CONTACT:  AMEY PLC
          The Sherrard Bldg., Edmund Halley Road
          Oxford
          OX4 4DQ, United Kingdom
          Phone: +44-1865-713-100
          Fax: +44-1235-848-822
          Web site: http://www.amey.co.uk


ARUNDELL SINCLAIR: Files for Liquidation
----------------------------------------
R. Sinclair, Director of Arundell Sinclair Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 16 at the offices of David Horner & Co, 11 Clifton Moor
Business Village, James Nicolson Link, Clifton Moor, York YO30
4XG.

David Anthony Horner of David Horner & Co, 11 Clifton Moor
Business Village, James Nicolson Link, Clifton Moor, York YO30
4XG was appointed liquidator.

CONTACT:  ARUNDELL SINCLAIR LTD.
          Wira House, Ring Road
          West Park
          Leeds
          LS16 6EB
          West Yorkshire
          Phone: 0113 275 7161
          Fax: 0113 275 9184


AVP PRODUCTION: Hires Administrators from Begbies Traynor
---------------------------------------------------------
Paul Finnity and Peter A Blair (IP Nos 8768 and 008886) of
Begbies Traynor were appointed administrators of AVP Production
Limited (Company No 4196999) on Sept. 26.  The company's
registered office is at Regency House, 21 The Ropewalk,
Nottingham NG1 5DU.

CONTACT:  AVP PRODUCTION LTD.
          Visual House
          2 Wilmingon Grove
          Leeds
          West Yorkshire UK
          LS7 2BQ
          Phone: 0113 3838287
          Fax: 0113 3838292
          E-mail: info@avp-ltd.com
          Web site: http://www.avp-ltd.com/

          BEGBIES TRAYNOR
          Regency House,
          21 The Ropewalk, Nottingham NG1 5DU
          Phone: 0115 941 9899
          Fax:   0115 945 4845
          Web site: http://www.begbies.com


BAS LOGISTICS: EGM Passes Winding-up Resolution
-----------------------------------------------
G. Smith, Director of Bas Logistics Ltd., informs that a
resolution to wind up the company was passed at an EGM held on
Sept. 16 at Insol House, 39 Station Road, Lutterworth,
Leicestershire LE17 4AP.

Richard Frank Simms and Martin Richard Buttriss of Insol House,
39 Station Road, Lutterworth, Leicestershire LE17 4AP were
appointed liquidators.

CONTACT:  BAS LOGISTICS LTD.
          Manor Farm, Northend Road, Southam
          Warwickshire CV47 2YY
          Phone: 01295771071


BC BUILDING: Final Meeting Set December
---------------------------------------
D. P. Hudson, Joint Liquidator of BC Building Solutions Limited,
informs that a Final Meeting of the Members of the Company will
be held at the offices of Begbies Traynor (Incorporating Taylor
Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend
on Sea, Essex SS1 2EG, on 7 December 2005, at 10:00 a.m., to be
followed at 10:15 a.m. by a Final Meeting of the Creditors

CONTACT:  BC BUILDING SOLUTIONS LTD.
          23 Red Lodge Road, Bexley Kent. DA5 2JW
          Web site: http://www.bcbuildingsolutions.co.uk
          E-mail: info@bcbuildingsolutions.co.uk
          Phone: 08700 600 809
          Fax: 01322 527551


BEAUMONT ASSOCIATES: Liquidator Sets Creditors Meetings
-------------------------------------------------------
K. Kallis, Liquidator of:

     Ashwell Corporation Limited
     Astromex Engineers Limited
     Barley Corporation Limited
     Beaumont Associates Limited
     Cranbrooks Management Limited
     Flamingo Associates Limited
     Katamex Limited
     Minecourt Limited
     Rochester Management Limited
     Widescope Associates Limited

informs that Final Meetings of the Members of the Companies will
be held at Mountview Court, 1148 High Road, Whetstone, London N20
0RA, on 4 November 2005, at 10:00 a.m., 10:30 a.m., 11:00 a.m.,
11:30 a.m., 12:00 noon, 12:30 p.m., 2:00 p.m., 2:30 p.m., 3:00
p.m., 3:30 p.m., to be followed at 10:15 a.m., 10:45 a.m., 11:15
a.m., 11:45 a.m., 12:15 p.m., 12:45 p.m., 2:15 p.m., 2:45 p.m.,
3:15 p.m. and 3:45 p.m., by a Final Meetings of Creditors.

Proxies to be used at the Meetings must be lodged with the
Liquidator at Mountview Court, 1148 High Road, Whetstone, London
N20 0RA, no later than 12:00 noon on the preceding day.

CONTACT:  BEAUMONT ASSOCIATES LTD.
          CBC House
          24 Canning Street
          Edinburgh EH3 8EG
          Phone: 0131 272 2731
          Fax: 0131 272 2800
          Contact: Michelle Beaumont
          E-mail: legal@beaumontassociates.co.uk


BRITISH AMERICAN: Canadian Unit to Continue Defense vs. Lawsuit
---------------------------------------------------------------
British American Tobacco plc's Canadian subsidiary, Imperial
Tobacco Canada Ltd., has said that the Supreme Court of Canada's
ruling reassures that it can have a fair trial and bring forward
all the relevant information in any legal action undertaken by
the British Columbia government under the Tobacco Damages and
Health Care Recovery Act.

The company intends to vigorously defend itself in any trial
initiated by that province.  It must be remembered that the
decision rendered Thursday last week does not in any way find any
tobacco company to be liable, but merely allows the action
already taken by the provincial government to continue.

        Statement of Don McCarty, General Counsel of ITC

This case is not about tobacco and it's not about health, it's
about abuse of power and a grotesque cash grab by the government.
The B.C. legislation is a blueprint for any government in this
country to facilitate a lawsuit against any industry or any
person or group of persons that a provincial government decides
to target.

This decision essentially means that it is open season on any
industry that any government decides to take on for its own
benefit.  Industries such as fast food, alcohol, gaming and
others are all now fair game for a statute of this kind.
Governments in Canada currently collect more than US$9 billion a
year in taxes from the tobacco industry, which is more than 13
times the profit of Canadian tobacco companies.

Since 1970, governments in Canada have collected more than US$130
billion in tax revenues on the sale of tobacco products, and the
B.C. government has directly collected more than US$9 billion.

We intend to fight for our right to a fair trial both before,
during, and after the trial pursued by the B.C. government.  We
are confident in the numerous excellent and meritorious defenses
we intend to bring forward

Inappropriate

This trial will take years to bring forward and to plead.
Imperial Tobacco Canada will ensure that the conduct of all
parties in the history of tobacco in this country is called to
account, including the government itself.  The role of
governments in the development and implementation of tobacco
policy will be relevant to this lawsuit and must be fully
explored.

We now hope that the B.C. government will take time to think
carefully before deciding on a future course of action.  The
pursuit of a lawsuit to recover health care costs will be a
lengthy and expensive process.  We estimate the eight-year
constitutional lawsuit has cost B.C. taxpayers well in excess of
US$20 million.  And there will be no big pay out at the end of
the day, even in the doubtful event that the lawsuit is
successful.

There is a better way.  As a tobacco company we operate under the
strict regulation of both federal and provincial governments.  We
believe a more co-operative, non-confrontational relationship
between the regulator and the regulated companies would serve
everyone's interest.  Should this case proceed, we are confident
that, when all the facts are brought out, we will be successful
in our defense.

The question as to whether the Act can be enforced against a
number of non-Canadian tobacco companies has still to be
resolved.  That issue will come before the British Columbia Court
of Appeal in February 2006.  Meanwhile, the claim is stayed
against those companies pending the outcome of that
appeal.

                            *   *   *

A class action lawsuit has been filed against Imperial Tobacco
Canada Ltd. on behalf of British Columbian smokers.  The suit
alleges that the company engaged in deceptive trade practices in
the marketing of their "light" and "mild" cigarette brands.

                        About the Company

British American Tobacco is the world's second largest quoted
tobacco group with more than 300 brands in its portfolio.  It
holds robust market positions in each of its regions and
maintains leadership in more than 50 of the 180 markets where it
operates.  The Group has 81 cigarette factories in 64 countries,
producing some 853 billion cigarettes in 2004.  The Group also
has 9 Other Tobacco Products (OTPs) factories in 7 countries,
which manufacture cigars, roll-your-own and pipe tobacco.  Its
companies, including associated companies, employ more than
90,000 people worldwide.  In 2004, it had turnover of GBP34,255
million and net revenue of GBP12,410 million.

In July, the company revealed plans of closing its Southampton
factory within 18-24 months, which will result in the loss of
some 530 jobs.  This is part of its GBP160 million restructuring
effort.

The Southampton operation, which manufactures primarily for
export, announced in June that 25% of its production would be
localized to factories in Singapore and Korea.  In Ireland, its
unit, PJ Carroll & Co Ltd., has also decided to stop
manufacturing at its cigarette factory in Dundalk, Co. Louth,
employing 66 people.

The company said: "We appreciate that this is a difficult step
but the companies are committed to doing all they can to mitigate
the impact of job losses."

CONTACT:  BRITISH AMERICAN TOBACCO PLC
          Globe House, 4 Temple Place
          London
          WC2R 2PG, United Kingdom
          Phone: +44-20-7845-1000
          Fax: +44-20-7240-0555
          Web site: http://www.bat.com


BRITISH AMERICAN: Selling Racing Team Stake to Honda Motor
----------------------------------------------------------
British American Tobacco plc has agreed the sale of its 55% stake
in B.A.R. Honda to Honda Motor Co. Ltd.  The sale is expected to
take effect by 31 December 2005.

With Honda's existing 45% shareholding, purchased in January
2005, this transaction will give Honda complete ownership of the
team.

The B.A.R. Honda team (then British American Racing) was
established by British American Tobacco in 1997.  After a
challenging first few years, it rose to second place in the 2004
FIA Constructors' World Championship, one of the quickest ascents
of a F1 team.

British American Tobacco intends to remain as the title sponsor,
through Lucky Strike, for the 2006 season, but will honor its
long-standing commitment to exit Formula One sponsorship at the
end of that season.  This is consistent with the International
Tobacco Marketing Standards, to which British American Tobacco
voluntarily subscribed in 2001, along with its major
international competitors.

Jimmi Rembiszewski, marketing director, said: "It will be sad to
end our association, but it is immensely satisfying to leave the
team in the competent hands of Honda who are proven winners in
the sport.  We wish Honda every success for the future and look
forward to our last year of sponsorship."

British American Tobacco was advised on this transaction by HSBC.

                        About the Company

British American Tobacco is the world's second largest quoted
tobacco group with more than 300 brands in its portfolio.  It
holds robust market positions in each of its regions and
maintains leadership in more than 50 of the 180 markets where it
operates.  The Group has 81 cigarette factories in 64 countries,
producing some 853 billion cigarettes in 2004.  The Group also
has 9 Other Tobacco Products (OTPs) factories in 7 countries,
which manufacture cigars, roll-your-own and pipe tobacco.  Its
companies, including associated companies, employ more than
90,000 people worldwide.  In 2004, it had turnover of GBP34,255
million and net revenue of GBP12,410 million.

In July, the company revealed plans of closing its Southampton
factory within 18-24 months, which will result in the loss of
some 530 jobs.  This is part of its GBP160 million restructuring
effort.

The Southampton operation, which manufactures primarily for
export, announced in June that 25% of its production would be
localized to factories in Singapore and Korea.
In Ireland, its unit, PJ Carroll & Co Ltd., has also decided to
stop manufacturing at its cigarette factory in Dundalk, Co.
Louth, employing 66 people.

The company said: "We appreciate that this is a difficult step
but the companies are committed to doing all they can to mitigate
the impact of job losses."

CONTACT:  BRITISH AMERICAN TOBACCO PLC
          Globe House, 4 Temple Place
          London
          WC2R 2PG, United Kingdom
          Phone: +44-20-7845-1000
          Fax: +44-20-7240-0555
          Web site: http://www.bat.com


BRITISH ENERGY: Sets Meeting to Discuss Bond Terms Amendments
-------------------------------------------------------------
British Energy Holdings PLC, a wholly owned subsidiary of British
Energy Group PLC, sent on 28 September 2005 a notice regarding a
meeting on 24 October 2005.  The purpose of the meeting is to
consider proposals by the Issuer to make certain amendments to
the terms and conditions of the Bonds (GBP700,000,000 7%
Guaranteed Bonds due 2005-2022).  These proposals are detailed in
an Explanatory Memorandum dated 28
September 2005 sent to Bondholders with the Notice of Meeting.

To participate in the meeting Bondholders must provide their
instructions in the  normal way so that instructions are received
by the Registrar and the Principal Paying Agent by 4:00 p.m. on
20 October 2005 (the Expiration Date).  Bondholders who submit
instructions so that instructions are received by the Registrar
and the Principal Paying Agent by 4:00 p.m. on 14 October 2005
(the Early Instruction Date) will be eligible to receive a
payment from the Issuer of GBP1.00 per GBP1,000.00 nominal
principal amount of outstanding Bonds which are the subject of a
Bondholders' instruction (the Early Instruction Fee), subject to
the passing of the proposals.

The proposals are made subject to the conditions contained in the
Explanatory Memorandum and terms used in this announcement and
not otherwise defined have the meanings set out to them in the
Explanatory Memorandum.

Citigroup Global Markets Limited is the sole Consent
Co-ordinator.  Copies of the Notice of Meeting and Explanatory
Memorandum are available from the Consent Co-ordinator.  For
further information please contact Liability Management Group on
+44 20 7986 8969.

CONTACT:  BRITISH ENERGY
           Andrew Dowler
           Phone: 020 7831 3113
           (Media Enquiries)
           John Searles
           Phone: 01355 26 2202
           (Investor Relations)
           Web site: http://www.british-energy.com


CALLAHANS LABOUR: Creditors Meeting Set Mid-month
-------------------------------------------------
A Meeting of Creditors of Callahans Labour Hire Limited will be
held at the offices of Valentine & Co., 4 Dancastle Court, 14
Arcadia Avenue, London N3 2HS, on Friday 14 October 2005, at 3:00
p.m.

A list of the names and addresses of the Company's Creditors may
be inspected at the offices of Valentine & Co., Dancastle Court,
14 Arcadia Avenue, London N3 2HS, between 10:00 a.m. and 4:00
p.m. on the two business days preceding the date of the Meeting.

CONTACT:  CALLAHANS LABOUR HIRE LTD.
          62 Orsett Road
          Grays
          RM17 5EH
          Phone: 01375 382999


CENTER PARCS: Profit Lower by GBP9.7 Million Under IFRS
-------------------------------------------------------
Center Parcs (U.K.) Group plc previously reported under U.K.
Generally Accepted Accounting principles (U.K. GAAP).  As part of
the transition to IFRS and in preparation for adopting IFRS as
its accounting basis for the 52 weeks ending 20 April 2006,
Center Parcs has released its preliminary financial information
for the 52 weeks ended 21 April 2005, together with its opening
balance sheet at 23 April 2004 prepared under IFRS.

The key changes to the Group's reported financial information
are:

(a) profit before tax, goodwill amortization and exceptional
    items for the weeks ended 21 April 2005 reduced by GBP9.7
    million to GBP16.3 million as a result of additional lease
    charges;

(b) net assets at 21 April 2005 increased by GBP5.4 million
    primarily due to the add back of goodwill amortization,
    reversal of proposed dividends and the creation of a net
    deferred tax asset, offset by additional lease charges; and

(c) no change in the underlying business performance, dividend
    payment capacity and financing arrangements.  No negative
    impact on cash flows.

                        About the Company

Based in the United Kingdom, Center Parcs operates short break
holiday villages in Sherwood Forest (Nottinghamshire), Longleat
Forest (Wiltshire), Elveden Forest (Suffolk) and Whinfell Forest
(Cumbria).  It has more than 5,000 employees, and an annual
turnover of GBP229.64 million.

In July, the company revealed underlying trading for the year was
robust, but was impacted by a number of specific factors
including a weaker than expected first quarter; Christmas
scheduling issues; and higher than expected energy cost
inflation.

Action has been taken to minimize these impacts in the future.
For example, energy costs have been locked in for the next 18
months and a new program is in place for peak period scheduling
and marketing.  For only the second time in its history, one of
the villages had to be closed following power losses caused by
exceptionally severe weather conditions.  However, risk
management procedures and power backup arrangements allowed it to
reopen the site within two days.

Work was also underway on two key aspects of funding for the
Group:

(a) GBP52.5 million loan notes: these have a fixed coupon of
    6.5% until January 2007 and an amortization payment schedule
    beginning in FY07 with a sum of GBP7.5 million.  The Board
    has been reviewing the refinancing options for this part
    of the funding structure; and

(b) funding for the 5th site: a range of funding models were
    under review.  The preferred funding route will be developed
    in due course to meet the likely timetable for the planning
    process and further updates will be provided as appropriate.

CONTACT:  CENTER PARCS (U.K.) GROUP PLC
          One Edison Rise
          New Ollerton
          Newark, Nottinghamshire
          NG22 9DP
          United Kingdom
          Phone: 0870 067 3000
          Fax: 0870 067 3099
          E-mail: shareholderservices@centerparcs.co.uk


CHANNON MCCOLL: Administrator from Monahans Enters Firm
-------------------------------------------------------
Paul Michael McConnell (IP No 1084) of Monahans was appointed
administrator of Channon Mccoll Media Ltd. (Company No 03956394)
on Sept. 23.  The company's registered office is at 43-45 Devizes
Road, Swindon SN1 4BG.  Channon McColl is into marketing and
promotions.

CONTACT:  CHANNON MCCOLL MEDIA
          Cirencester
          Phone: 01285 654777

          MONAHANS
          38-42 Newport Street
          Swindon
          Wiltshire SN1 3DR
          Phone: 01793 521231
          Fax: 01793 512188
          E-mail: paulm@monahans.co.uk


CHEMCO LIMITED: Final Meeting Set Next Month
--------------------------------------------
M. C. Bowker, Liquidator of Chemco Limited, informs that Final
Meetings of Members and Creditors will be held at the offices of
Unity Corporate Recovery & Insolvency, Clive House, Clive Street,
Bolton BL1 1ET, on 9 November 2005, at 11:00 a.m. and 11:15 a.m.
respectively

CONTACT:  CHEMCO INTERNATIONAL LTD.
          Unit 3a-3b
          East Shawhead Industrial Estate
          Coatbridge
          ML5 4LY Strathclyde
          Phone: 01236 606060
          Fax: 01236 606070
          Web site: http://www.chemcoint.com


CHESTNUT ROOFING: Goes into Liquidation
---------------------------------------
S. Mulroy, Director of Chestnut Roofing Co. Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 6 at 30 Derby Street, Ormskirk, West Lancashire L39 2BY.

Eileen T. F. Sale of Sale Smith & Co. Limited, 30 Derby Street,
Ormskirk, West Lancashire L39 2BY was appointed liquidator.

CONTACT:  CHESTNUT ROOFING CO. LTD.
          136-140 Picton Road, Wavertree, Liverpool, Merseyside
          L15 4LJ
          Phone: 01517330170


CHUBB (CANADIAN INVESTMENTS): Names Liquidators from PwC
--------------------------------------------------------
Company Names: CHUBB (CANADIAN INVESTMENTS) LIMITED
               CHUBB (NORTH AMERICA) LIMITED
               CHUBB SECURITY NETWORK LIMITED
               SEARCHMILL LIMITED

The special and ordinary resolutions to wind up these companies
were passed at an EGM held on Sept. 26.  Jonathan Sisson and Tim
Walsh of PricewaterhouseCoopers LLP, 12 Plumtree Court, London
EC4A 4HT were appointed liquidators.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Plumtree Court
          London EC4A 4HT
          Phone: [44] (20) 7583 5000
          Fax:   [44] (20) 7822 4652
          Web site: http://www.pwc.com


CONCEPT FOR LIVING: Publisher Calls in Administrator
----------------------------------------------------
Charles Peter Holder and Stuart Charles Edward Mackellar (IP Nos
6883 and 9093) of Kroll Limited were appointed joint
administrators of Concept For Living Limited (Company No
04491762) on Sept. 27.  The company's registered office is at 5
Mortimer Street, Hamilton Square, Birkenhead, Merseyside CH41
3EU.

Concept For Living is a company that publishes a regional home
interest monthly magazine including new concepts and innovations
for the home and garden.  Visit
http://www.conceptforliving.co.uk/for more information.

CONTACT:  CONCEPT FOR LIVING LIMITED
          Denis Mahony
          E-mail: denis.mahony@conceptforliving.co.uk

          KROLL LIMITED
          Wellington Plaza,
          31 Wellington Street,
          Leeds LS1 4DL
          Web site: http://www.krollworldwide.com


CONTINENTAL LIFESTYLE: Names Begbies Traynor Liquidator
-------------------------------------------------------
C. Green, Chairman of Continental Lifestyle Kitchens Ltd.,
informs that resolutions to wind up the company were passed at an
EGM held on Sept. 12 at 32 Cornhill, London EC3V 3BT.

Richard Andrew Segal and Paul Michael Davis of Begbies Traynor
(South) LLP, 32 Cornhill, London EC3V 3BT were appointed Joint
Liquidators.

CONTACT:  CONTINENTAL LIFESTYLE KITCHENS
          Unit 4, Mayphill Industrial Estate, Wickford, Essex
          SS11 7RJ
          Phone: 01268572834


COSTAIN GROUP: Joins Decommissioning Team at Trawsfynydd Site
-------------------------------------------------------------
Costain Group plc has been named as one of the four companies
responsible for part of the decommissioning program at
Trawsfynydd Power Station site, situated in the heart of the
Snowdonia National Park in North Wales.

Trawsfynydd has reached another major milestone in the plans to
decommission and clean up Britain's only nuclear power station
located in a National Park.  Trawsfynydd is owned by the Nuclear
Decommissioning Authority who have contracted the Management
Operations of this facility to British Nuclear Group (BNG).

A part of the site's decommissioning program is the continued
processing of the stored operational Intermediate Level Waste
(ILW) and decontamination and demolition of the Cooling Ponds
Complex.

The site has chosen to contract this work via a framework; the
Trawsfynydd Strategic Integrated Framework (TSIF), made up of
four partners, each providing specialist skills.

The TSIF is the culmination of almost two years of planning to
deploy what is seen by many to be best procurement practice, from
industries outside the nuclear sector including the water
industry.  BNG has now hosted the first meeting of the four
companies.

The TSIF is part of a series of significant innovations being
introduced at Trawsfynydd to achieve acceleration and savings for
the customer.

Huw Llywelyn, Costain Wales regional manager, said: "The
selection as a preferred partner at the Trawsfynydd site is a
significant award for Costain in the continued success of our
growing activity in the U.K. Nuclear Decommissioning market.  We
are delighted to be part of this team and look forward to meeting
British Nuclear Group's expectations and working with our site
partners to deliver a quality product in a safe and cost
effective manner."

                        About the Company

Costain collapsed under heavy debt in the mid-1990s after
venturing into U.S. mining.  It is still trying to recover, with
its first dividend in years expected this year or next.  Its core
U.K. business reported a GBP10.5 million profit last year after
plunging into a EUR5 million loss in 2000.

The company has moved into asset management of water utilities
from civil engineering.  In May, the special resolution approving
the reduction of share capital and cancellation of share premium
account in the Company was approved by the
Companies Court and registered at Companies House.

CONTACT:  COSTAIN GROUP PLC
          Costain House, Nicholsons Walk
          Maidenhead
          SL6 1LN, United Kingdom
          Phone: +44-1628-842-444
          Fax: +44-1628-674-477
          Web site: http://www.costain.com

          Stuart Doughty, Chief Executive
          Charles McCole, Finance Director
          Graham Read, Public Relations
          Phone: 01628 842 444


CRISAND AUTOMATION: General Meeting Set Early Next Month
--------------------------------------------------------
C. D. Faulds, Liquidator of Crisand Automation Limited, informs
that General Meetings of the Members and Creditors of the Company
will be held at the offices of Portland Business & Financial
Solutions Ltd., 1640 Parkway, Solent Business Park, Whiteley,
Fareham, Hampshire, on 4 November 2005, at 10:30 a.m.

CONTACT:  CRISAND AUTOMATION LTD.
          23A Dawkins Road, Poole, BH15 4JY
          Phone: 01202 661123/684319
          Fax: 01202 684319


CROWN WARRIOR: EGM Passes Winding-up Resolution
-----------------------------------------------
S. Peters, Director of Crown Warrior Fireplaces Limited, informs
that a resolution to wind up the company was passed at an EGM
held on Sept. 26 at 26-28 Goodall Street, Walsall, West Midlands
WS1 1QL.

Timothy Frank Corfield of Griffin & King, 26-28 Goodall Street,
Walsall, West Midlands WS1 1QL was appointed liquidator.

CONTACT:  CROWN WARRIOR
          Unit 5/6/Hrs Ind Est/Granby Av
          Birmingham
          B33 0SJ
          Phone: 0121-785 1123


DGRP LIMITED: Names Mazars Liquidator
-------------------------------------
C. Marsden, Chairman of DGRP Limited, informs that resolutions to
wind up the company were passed at an EGM held on Sept. 16 at
Mazars LLP, Mazars House, Gelderd Road, Gildersome, Leeds LS27
7JN.

Paul Charlton and Robert Adamson of Mazars, Mazars House, Gelderd
Road, Gildersome, Leeds LS27 7JN were appointed Joint
Liquidators.

David Gathercole Race Preparation was formed in September 1993.
During its first year, DGRP concentrated on building racing
engines and suspension.  During the last two years the company
has moved more towards supporting race cars at the circuits.
Visit http://www.dgrp-ltd.co.uk/for more information.

CONTACT:  DGRP LTD.
          Unit 8 Springwater Business Park
          Station Road
          Whittlesey
          Cambs
          PE7 2EU
          Phone: 01733 208228
          Fax: 01733 208749


DISTINCTION RESOURCING: Annual Meeting Set November
---------------------------------------------------
M. H. Linton, Liquidator of Distinction Resourcing Limited,
informs that Annual Meetings of the Members and Creditors of the
Company will be held at Brentmead House, Britannia Road, London
N12 9RU, on 11 November 2005 at 11:00 a.m. and 11:15 a.m., to be
followed by Final Meetings at 11.30 am and 11:45 a.m.
respectively.

A person entitled to attend and vote at the above Meetings may
appoint a proxy to attend and vote in his or her place.  It is
not necessary for a proxy to be a Member or Creditor.  Proxy
forms must be lodged with the Liquidator at the offices of Leigh
& Co., Brentmead House, Britannia Road, London N12 9RU, by no
later than 12:00 noon on 10 November 2005.

CONTACT:  DISTINCTION RESOURCING LIMITED
          2-4, Great Eastern St
          London EC2A 3NT
          Phone: 020 7247 4077


ETASA (BANANA): Hires KPMG Liquidator
-------------------------------------
D. Flynn, the Chairman of Etasa (Banana) Limited, informs that
special and ordinary resolution to wind up the company were
passed at an EGM held on Sept. 15 at Houndmills Road,
Basingstoke, Hampshire RG21 6XL.  Phillippa Henry of KPMG, Stokes
House, 17-25 College Square East, Belfast BT1 6DH was appointed
liquidator.

Creditors are required on or before Nov. 7, 2005 to send in full
details of their claims and their names and addresses to
Phillippa Henry at KPMG, Stokes House, College Square East,
Belfast BT1 6DH, the Liquidator of the Company, and, if so
required by notice in writing, to prove their said debt or
claims.

CONTACT:  KPMG
          Stokes House,
          17-25 College Square East,
          Belfast BT1 6DH
          Web site: http://www.kpmg.co.uk


ETHEL AUSTIN: Hit by Crisis in Retail Sector
--------------------------------------------
Shopping chain Ethel Austin has breached banking covenants, Times
Online reported Thursday.

Last week, Liverpool Daily Post said the discount clothing chain
is in talks with bankers and investors about a financial
restructuring.

Chief Executive Philip Hoskinson said in a statement that as a
result of the general difficulty in the retail market it is
revisiting existing financial arrangements, and has hired Close
Brothers to help it in the talks.

"This includes funding for our refresh programme to revitalize
the appearance of the stores in 2006..." he said.  Mr. Hoskinson
as well as other members of the senior management own part of the
company.  They are backed by the private equity arm of Dutch
banking group ABN Amro Capital.  The management bought the
business for GBP55 million from the Austin family in 2002.  In
2004, ABN Amro paid GBP68 million to buy 56% of the business from
LloydsTSB Development Capital.

The company suffered a slump in sales at its 300 outlets.  It
warned earlier this year it might cut jobs due to difficult
trading conditions.  Ethel Austin had turnover of GBP170 million
for the year to August 2004.  Pre-tax profit was GBP13 million.

The Times Online report said among the retailers hit by the
downturn, those backed by private equity will be strongly
affected because they usually have higher levels of debt.  Ethel
Austin's bankers are Barclays and HSBC.

CONTACT:  ETHEL AUSTIN LTD.
     1c Market Place, Bulwell, Nottingham NG6 8QA
          Phone: 0115 976 0831


FACILITIES PERSONNEL: Appoints Liquidator
-----------------------------------------
M. Worcester, Chairman of Facilities Personnel Limited, informs
that resolutions to wind up the company were passed at an EGM
held on Sept. 15 at Universal House, 1-2 Queens Parade Place,
Bath BA1 2NN.

Sue Stockley of Fanshawe Lofts, Universal House, 1-2 Queens
Parade Place, Bath BA1 2NN was appointed liquidator.

CONTACT:  FACILITIES PERSONNEL LTD.
          130, Aztec, Park Avenue Almondsbury
          Bristol
          BS32 4UB
          Phone: 01454 629669


FIRST CALL: Goes into Liquidation
---------------------------------
N. Harrison, Chairman of First Call Finance Ltd., informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 16 at The Best Western Russell Hotel, 136 Boxley Road,
Maidstone, Kent ME14 2AE.

Stephen John Tancock of Smith & Williamson Ltd., First Floor,
Holbrook House, 72 Bank Street, Maidstone, Kent ME14 1SN was
appointed liquidator.

CONTACT:  First Call Finance Ltd.
          7 Clarendon Place, King Street
          Maidstone, Kent ME14 1BQ
          Phone: 01622620950


GEN SPED: Creditors to Meet in Two Weeks
----------------------------------------
N. Sullivan, Director of Gen Sped UK Limited, informs that a
Meeting of Creditors of company will be held at the offices of
Valentine & Co., 4 Dancastle Court, 14 Arcadia Avenue, London N3
2HS, on Friday 21 October 2005, at 12:00 noon

A list of names and addresses of the Company's Creditors may be
inspected at the offices of Valentine & Co., 4 Dancastle Court,
14 Arcadia Avenue, London N3 2HS, between 10:00 a.m. and 4:00
p.m. on the two business days preceding the date of the Meeting.

CONTACT:  GEN SPED UK LTD.
     8a London Road
          Grays, Essex RM17 5XY
          Phone: 01268-820300


GLASS SHOP: Files for Liquidation
---------------------------------
R. Burgin, Chairman of The Glass Shop (Thurnscoe) Limited,
informs that a resolution to wind up the company was passed at an
EGM held on Sept. 22 at BWC Business Solutions, 8 Park Place,
Leeds LS1 2RU.

Gary E. Blackburn and Paul A. Whitwam of the firm of BWC Business
Solutions, 8 Park Place, Leeds LS1 2RU were appointed liquidator.

The Glass Shop Limited is a family run business.  It specializes
in supplying finished glazed units.

Visit http://www.tgslimited.co.uk/for more information.

CONTACT:  THE GLASS SHOP LIMITED
          Lidget Lane, Thurnscoe
          Rotherham South Yorkshire
          S63 0BJ
          Phone: +44 1709 888171
          Fax: +44 1709 888271

          Registered office
          13 Marland House, Huddersfield Road, Barnsley
          E-mail: d.i.rogers@btconnect.com
                  info@theglassshop.info


GRAY CAMPBELL: Liquidator from Slater Maidment Enters Firm
----------------------------------------------------------
The Gray Campbell Limited informs that special resolution to wind
up the company was passed at an EGM held on Sept. 9 at 1 Aldwych,
London WC2B 4RH.  Christopher Wray Sudlow of Slater Maidment, 7
St James's Square, London SW1Y 4JU was appointed liquidator.

Creditors are required on or before October 21, 2005 to send in
their names and addresses, with particulars of their debts or
claims, and the names and addresses of their Solicitors (if any),
to the undersigned, Christopher Wray Sudlow of Slater Maidment, 7
St James's Square, London SW1Y 4JU, the liquidator of the
company, and, if so required by notice in writing, to prove their
said debts or claims.

CONTACT:  SLATER MAIDMENT
          7 St James's Square
          London SW1Y 4JU
          Phone: 020 7930 7621
          Fax: 020 7930 9352


INITIATIVE BURNLEY: Calls in Liquidator from DTE Leonard
--------------------------------------------------------
C. P. Dawson, Director of Initiative Burnley, informs that a
resolution to wind up the company were passed at an EGM held on
Sept. 22 at DTE Leonard Curtis, 24 Wellington Street, St Johns,
Blackburn BB1 8AF.

J M Titley of DTE Leonard Curtis, DTE House, Hollins Mount, Bury
BL9 8AT was appointed liquidator.

Initiative Burnley is a partnership organization comprising
forward thinking members from local businesses, the community and
public sector who bring together combined expertise, experience
and resources to further improve the quality of life and economic
prospects for the Burnley area.

Initiative Burnley -- by promoting a coordinated and active
private sector partnership -- also provides the private sector
business representation on the Burnley Regeneration Forum,
through which U.K. Government and European grant funding is
directed totaling millions of pounds every year.

Initiative Burnley operates through four main strategy groups to
achieve its objectives, each one focusing on an important area
involved in shaping the town's future: Town Centre Partnership,
Padiham Life, Burnley Action Partnership (Burnley's Local
Strategic Partnership), and Employers Forum.

CONTACT:  INITIATIVE BURNLEY
          Lodge House
          Cow Lane
          Burnley
          BB11 1NN
          Phone: 01282 414800
          E-mail: initiativeburnley@btconnect.com
          Fax: 01282 428718


INTER-CITY ADS: In Liquidation
------------------------------
N. G. Obagi, Chairman of Inter-City Ads Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 23 at Rowland House, Hinton Road, Bournemouth, Dorset.

Julie Anne Palmer of Middleton Partners, 65 St Edmund's Church
Street, Salisbury, Wiltshire SP1 1EF was appointed liquidator.

Inter-City Ads Limited is a media company based in Bournemouth on
the South Coast of England.  It specializes in the establishment,
management and operation of large outdoor Video screens.  Visit
http://www.intercityads.com/for more information.

CONTACT:  INTER-CITY ADS LTD.
          2 Trinity
          161 Old Christchurch Road
          Bournemouth
          BH1 1JU
          Phone: +44 (0)1202 290444
          Fax: + 44 (0)1202 294111


JESTER LIMITED: Calls in Liquidator
-----------------------------------
Jester Limited (t/a WAI) informs that a resolution to wind up the
company was passed at an EGM on Sept. 22 at Brentmead House,
Britannia Road, North Finchley, London N12 9RU.

Martin Henry Linton of Brentmead House, Britannia Road, London
N12 9RU was appointed liquidator.

CONTACT:  JESTER CONSULTING LIMITED
          48 Priory Rd, London NW6 4SJ
          Web site:
          http://www.jesterconsulting.co.uk/swexample4.htm


J. WEBB: Creditors Meeting Set Next Month
-----------------------------------------
B. Webb, Director of J. Webb (Plant Hire) Limited, informs that a
Meeting of the Creditors of the Company will be held at 16-17
Boundary Road, Hove, East Sussex BN3 4AN, on 12 October 2005, at
10:30 a.m.

Creditors wishing to vote at the Meeting must lodge their proxy,
together with a full statement of account at the registered
office of the Company at Chantrey Vellacott DFK, 16-17 Boundary
Road, Hove, East Sussex BN3 4AN, not later than 12:00 noon on the
business day prior to the day of the Meeting.

For the purposes of voting, secured Creditors are required,
unless they surrender their security, to lodge at Chantrey
Vellacott DFK, 16-17 Boundary Road, Hove, East Sussex BN3 4AN,
before the Meeting, a statement giving particulars of their
security, the date it was given and the value at which it is
assessed.

Notice is further given, pursuant to section 98(2)(a) of the Act,
that David John Oprey and Kenneth William Touhey, of Chantrey
Vellacott DFK, 16-17 Boundary Road, Hove, East Sussex BN3 4AN,
are qualified Insolvency Practitioners who will furnish Creditors
with such information as they may reasonably require during the
period before the day on which the Meeting is to be held.

CONTACT:  J.WEBB (PLANT HIRE) LIMITED
          14 Cripps Avenue
          Peacehaven
          East Sussex
          BN10 8AL
          United Kingdom
          Phone: (01273) 582459
          Fax: (01273) 587080
          Web site: http://www.jwebbplanthire.co.uk


MANX PETROLEUM: Final, Creditors Meeting Set Early Next Month
-------------------------------------------------------------
J. S. French, Liquidator of Manx Petroleum Plc, informs that a
Final Meetings of Members and Creditors of the Company will be
held at 67 Butts Green Road, Hornchurch, Essex RM11 2JS, on 3
November 2005, at 11:30 a.m. and 11:45 a.m. respectively

Proxies to be used at the Meetings must be lodged with the
Liquidator at 43-45 Butts Green Road, Hornchurch, Essex RM11 2JX,
no later than 12:00 noon on the preceding business day.

CONTACT: MANX PETROLEUM PLC
         43-45 Butts Green Road
         Hornchurch
         Essex
         RM11 2JX


MARTINS BANK: Debt Claims Deadline Set Later this Month
-------------------------------------------------------
Barclays Group Holdings Limited, the Shareholder of Martins Bank
Limited, informs that special and ordinary resolutions to wind up
the company were passed.  J. R. D. Smith and N. J. Dargan of
Deloitte & Touche LLP, Athene Place, PO Box 810, 66 Shoe Lane,
London EC4A 3WA were appointed liquidators.

Creditors are required on or before October 28, 2005 to send in
their full names and addresses, with particulars of their debts
or claims, to the undersigned, J. R. D. Smith of Deloitte &
Touche, PO Box 810, Athene Place, 66 Shoe Lane, London EC4A 3WA,
the Joint Liquidator of the company, and, if so required by
notice in writing, to prove their said debts or claims.


CONTACT:  DELOITTE & TOUCHE LLP
          Athene Place
          66 Shoe Lane
          London EC4A 3BQ
          Phone: 00 44 (0) 207 936 3000
          Fax: 00 44 (0) 207 779 4001
          Web site: http://www.deloitte.com


MERONDAWN LIMITED: In Liquidation
---------------------------------
Merondawn Limited informs that a resolution to wind up the
company was passed at an EGM held on Sept. 20 at Great Central
House, Great Central Avenue, South Ruislip, Middlesex HA4 6TS, on
20 September 2005.

CONTACT:  MERONDAWN LIMITED
          13 Harben Parade, Finchley Road
          London, NW3 6JB
          Phone: 020 7449 9479


MUNICHRE SERVICES: Liquidators from KPMG Take over Company
----------------------------------------------------------
C. Von Bechtolsheim, the Chairman of Munichre Services Limited,
informs that special and ordinary resolutions to wind up the
company were passed at an EGM held on Sept. 16 at 154 Fenchurch
Street, London EC3M 6JJ.  Jeremy Spratt and Finbarr O'Connell of
KPMG LLP, 8 Salisbury Square, London EC4Y 8BB were appointed
joint liquidators.

CONTACT:  KPMG LLP
          PO Box 695,
          8 Salisbury Square,
          London EC4Y 8BB
          Phone: (020) 7311 1000
          Fax: (020) 7311 3311
          Web site: http://www.kpmg.co.uk


NEWMATIC LIMITED: Final Meeting Set November
--------------------------------------------
S. M. Rout, Liquidator of Newmatic Limited, informs that a Final
Meeting of the Members of the Company will be held at 12 Signet
Court, Swanns Road, Cambridge CB5 8LA, on 3 November 2005 at
11:30 a.m., to be followed at 11:45 a.m. by a Final Meeting of
Creditors.

Proxies to be used at the Meetings must be lodged with the
Liquidator at 12 Signet Court, Swanns Road, Cambridge CB5 8LA, no
later than 12:00 noon on the preceding day.

CONTACT:  NEWMATIC LTD.
          Phone: 01223 812582
          27 Newmarket Road, Cambridge, CB5 8EG


PEELFORT LIMITED: Calls in Administrators from Chamberlain & Co.
----------------------------------------------------------------
Michael Chamberlain and Andrew Wilkinson (IP Nos 8735 and 9344)
of Chamberlain & Co were appointed Peelfort Limited (Company No
02621091) on Sept. 26.  The company offers computer repair and
maintenance services.

CONTACT:  PEELFORT LTD.
          Ridge Road,
          Rotherham, S65 1NS
          Phone: 01709 363418

          CHAMBERLAIN & CO
          Aireside House
          24/26 Aire Street
          Leeds
          West Yorkshire LS1 4HT
          Phone: 0113 242 0808
          Fax: 0113 242 0866
          E-mail: mail@chamberlain-co.co.uk


PPS ACIT: Calls in Kroll Limited Administrator
----------------------------------------------
Company Names: PPS ACIT LIMITED
               (Company No 03456208)

               PPS AGILE LIMITED
               (Company No 04034920)

               PPS SAFETY SELECT LIMITED
               (Company No 04052529)

               PPS SUPPORT SERVICE LIMITED
               (Company No 02918295)

               PPS TAXATION LIMITED
               (Company No 04990690)

               PROFESSIONAL PARTNERSHIP SERVICES PLC
               (Company No 04290680)

               UK TEACHING APPOINTMENTS LIMITED
               (Company No 04338258)

Andrew John Pepper and Alastair Paul Beveridge (IP Nos 9050 and
8991) of Kroll Limited were appointed administrators of these
companies on Sept. 23.  The companies' registered office is at
Elsinore House, 43 Buckingham Street, Aylesbury, Buckinghamshire
HP20 2NQ.  They offer other business activities.

CONTACT:  KROLL LIMITED
          10 Fleet Place
          London EC4M 7RB
          United Kingdom
          Phone: 44 (0) 207 029 5000
          Fax: 44 (0) 207 029 5001
          Web site: http://www.krollworldwide.com


QUADRANT DISPLAYS: Creditors to Meet Today
------------------------------------------
M. A. Jones, Director of Quadrant Displays Limited, informs that
a Meeting of the Creditors of the Company will be held at Begbies
Traynor, 5th Floor, Riverside House, 31 Cathedral Road, Cardiff
CF11 9HB, on 7 October 2005, at 12:00 noon, for the purposes
mentioned in sections 99 to 101 of the Act.

CONTACT:  QUADRANT DISPLAYS LTD.
          14- 15 Woodham Road
          Barry Dock
          Barry
          CF63 4JT South Glamorgan
          Phone: 01446 747142
          Fax: 01446 749696
          Web site: http://www.quadrantdisplays.co.uk


REVERE PRODUCTS: Appoints Moore Stephens Liquidator
---------------------------------------------------
H. Smith, Chairman of Revere Products Ltd., informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 16 at Moore Stephens Corporate Recovery, Beaufort House,
94-96 Newhall Street, Birmingham B3 1PB.

Mark Bowen of Moore Stephens Corporate Recovery, Beaufort House,
94-96 Newhall Street, Birmingham B3 1PB was appointed liquidator.

The appointment was confirmed at a creditors meeting held on the
same day.

CONTACT:  REVERE PRODUCTS LTD.
          Unit 4 St. Chads Industrial Estate, Birmingham, B19
          3NP
          Phone: 0121 359 8899


ROWE & CO: KPMG Liquidator Enters Firm
--------------------------------------
A. D. Smith, the Chairman of Rowe & Co Limited, informs that
special and ordinary resolutions to wind up the company were
passed at an EGM held on Sept. 15 at Houndmills Road,
Basingstoke, Hampshire RG21 6XL.  Phillippa Henry of KPMG, Stokes
House, 17-25 College Square East, Belfast BT1 6DH was appointed
liquidator.

Creditors are required on or before Nov. 7, 2005 to send in full
details of their claims and their names and addresses to
Phillippa Henry at KPMG, Stokes House, College Square East,
Belfast BT1 6DH, the Liquidator of the Company, and, if so
required by notice in writing, to prove their said debt or
claims.

CONTACT:  KPMG
          Stokes House,
          17-25 College Square East,
          Belfast BT1 6DH
          Web site: http://www.kpmg.co.uk


S. ARNIE: Goes into Liquidation
-------------------------------
S. J. Arnold, Director of S. Arnie Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 21 at Mountview Court, 1148 High Road, Whetstone, London
N20 0RA.

Elizabeth Arakapiotis was appointed liquidator.

CONTACT:  S. ARNIE LTD.
          40 Staines Road
          Feltham
          TW14 0JT
          Phone: 020 88900123


S A SMITH: Administrators from DTE Leonard Enter Firm
-----------------------------------------------------
J. M. Titley and P. Reeves (IP Nos 8617 and 9343) of DTE Leonard
Curtis were appointed administrators of S A Smith (Manchester)
Limited (Company No 00424825) on Sept. 15.

CONTACT:  S A SMITH (MANCHESTER) LIMITED
          Unit 8
          Cromwell Road, Bredbury
          Stockport, Cheshire SK6 2RF
          United Kingdom
          Phone: 0161-406 3300
          Fax: 0161-406 3333
          Web site: http://www.sasmith.co.uk

          DTE LEONARD CURTIS
          DTE House, Hollins Mount,
          Bury BL9 8AT
          Phone: 0161 767 1200
          Fax: 0161 767 1201
          Web site: http://www.dtegroup.com


SHREE LIMITED: Names Administrator from Sharma & Co.
----------------------------------------------------
Gagen Dulari Sharma (IP No 9145) of Sharma & Co. was appointed
administrator of Shree Limited (Company No 4626784) on Sept. 23.
The company's registered office is at 50 Newhall Street,
Birmingham B3 3QE.  Shree Limited is a sandwich bar company.

CONTACT:  SHARMA & CO.
          50 Newhall Street
          Birmingham
          West Midlands B3 3QE
          Phone: 0121 248 5007
          Fax: 0121 248 5010
          E-mail: gagen@sharmaandco.com


SKYEPHARMA PLC: Postpones R&D Day Meetings to January 2006
----------------------------------------------------------
SkyePharma plc has said that its Research & Development (R&D) Day
meetings, originally intended to be held in London on 26
October and in New York on 27 October, are being rescheduled
because of certain restrictions imposed by the Rights Issue
announced on 28 September.

The London meeting will now be held on Wednesday 25 January 2006
at The Brewery, Chiswell St., London, and will start at 9:30 a.m.
The New York meeting will be held on Thursday 26 January 2006 at
the St. Regis Hotel, 2 East 55th Street, New York and will take
place over lunch.  Attendance is by invitation only but the
meetings will be Web cast.  Further details of the agenda for
these meetings will be published nearer the day.

These meetings will provide an opportunity to gain an in-depth
awareness and understanding of key products in the company's
portfolio and pipeline and to meet members of its senior
management team.

                        About the Company

SkyePharma plc, headquartered in London, develops pharmaceutical
products benefiting from world leading drug delivery technologies
that provide easier-to-use and more effective drug formulations.
In May, it reported net loss of GBP24.3 million for 2004, a
decrease of 44% compared with GBP43.2 million in 2003.

Last month, the Board of SkyePharma proposed to raise
approximately GBP35 million (net of expenses) by means of a 1 for
5 Rights Issue of 125,627,357 New Ordinary Shares at 30 pence per
share to Qualifying Shareholders.

The Rights Issue has been underwritten in full by Credit Suisse
First Boston (Europe) Limited (CSFB).  The Directors (other than
one Director resident in the United States) intend to take up
their rights under the Rights Issue in respect of all of their
beneficial interests in Existing Ordinary Shares over which they
have control, representing less than 1 per cent of the issued
share capital.

The net proceeds of the Rights Issue will be used primarily to
provide the Company with additional working capital to fund the
Phase III clinical development of Flutiform(TM), a key pipeline
product.  The proposed issue of 125,627,357 New Ordinary Shares
represents approximately 16.7% of the enlarged issued share
capital.

CONTACT:  SKYEPHARMA PLC
          105 Piccadilly
          London
          United Kingdom
          W1J 7NJ
          Phone: +44 20 7491 1777
          Fax: +44 20 7491 3338
          Web site: http://www.skyepharma.com


SOUTHERN STEVEDORES: General Meeting Set Next Year
--------------------------------------------------
A. White, Joint Liquidator of Southern Stevedores Limited,
informs that a General Meeting of the Members of the Company will
be held at the offices of Baker Tilly, First Floor, International
House, Queens Road, Brighton, East Sussex BN1 3XE, on 16 January
2006, at 11:00 a.m., to be followed at 11:30 a.m. by a Final
Meeting of the Creditors.

CONTACT:  SOUTHERN STEVEDORES LIMITED
          19, Chartfield, Hove, East Sussex,BN3 7RD
          Phone: 01273 884913


SPINTEC LIMITED: Administrator from MBI Equity Enters Company
-------------------------------------------------------------
Michael Bowell (IP No 7671) of MBI Equity Limited was appointed
administrator of Spintec Limited (Company No 2752092) on Sept.
23.  The company manufactures metals.

CONTACT:  SPINTEC LIMITED
          Unit 12
          Castle Trading Estate
          Portchester, Fareham
          Hants PO16 9SE
          United Kingdom
          Phone: (023) 9237 7737
          Fax: (023) 9221 9544

          MBI EQUITY LTD
          First Floor
          Suite 5
          Tunsgate Square
          98-110 High Street
          Guildford, Surrey GU1 3HE
          Phone: 0845 310 2776
          Fax: 0845 450 4464
          E-mail: info@mbiequity.co.uk


TELEWEST GLOBAL: BBC to Meet with Flextech Bidders
--------------------------------------------------
BBC is set to talk with Flextech bidders after the auction
process has been suspended, said the Financial Times.

The halt came as Flextech's parent company Telewest Global, Inc.
unveiled its long-awaited merger with NTL Incorporated.

Flextech and BBC Worldwide co-own the UKTV channels.  BBC said
that it has the right to buy Flextech's shareholding in UKTV in
case of a change in ownership.

According to BBC Worldwide Chief Executive John Smith, the
company is set to meet in the next two weeks with Flextech
bidders BSkyB, RTL, Discovery, Viacom and Time Warner.

Meanwhile, rival telecoms companies are said to be seeking access
to the newly merged cable network as among the conditions in
allowing NTL to take over Telewest, said The Independent, in
another report.

However, NTL Chief Executive Simon Duffy has noted he may not
pursue the merger if that were a regulatory condition.

He said: "To say you must allow Uncle Tom Cobleigh and all to run
around on our network would be a deal breaker."

NTL is expected to allow competitors access to its enlarged
network only under certain financial conditions aimed at making
profits, added The Independent.

CONTACT:  TELEWEST GLOBAL, INC.
          160 Great Portland St.
          London
          W1W 5QA, United Kingdom
          Phone: +44-20-7299-5000
          Fax: +44-20-7299-5495
          Web site: http://www.telewest.co.uk

          NTL INCORPORATED
          Bartley Wood Business Park
          Bartley Way
          Hook
          Hampshire R627 9UP
          Phone: +44-1256-75-2000
          Fax: +44-1256-75-4100
          Web site: http://www.ntl.com

          BBC WORLDWIDE LIMITED
          Woodlands, 80 Wood Ln.
          London
          W12 0TT, United Kingdom
          Phone: +44-20-8433-2000
          Fax: +44-20-8749-0538
          Web site: http://www.bbcworldwide.com


TWENTYNINE ELEVEN: Bank of Scotland Appoints Receiver
-----------------------------------------------------
Bank of Scotland appointed Andrew Gordon Stoneman and Paul John
Clark (Office Holder Nos 8728, 8570) of Menzies Corporate
Restructuring joint administrative receivers of Twentynine Eleven
Limited (Registered No. 4509756) on Sept. 27.  The company's
registered office is at 43-45 Portman Square, London W1H 6LY.
Its trading name is Studio 23.

CONTACT:  TWENTYNINE ELEVEN LTD.
          Brunswick House, 14-20 Brunswick Street,
          Stoke-On-Trent, Staffordshire ST1 1DR
          Phone: 01782-279444

          MENZIES CORPORATE RESTRUCTURING
          43/45 Portman Square
          London W1H 6LY
          Phone: 020 7487 7240


UK AEROSOLS: Liquidator to Deliver Report November
--------------------------------------------------
A. J. Nichols, Liquidator of UK Aerosols Limited, informs that
Final Meetings of Members and Creditors of the company will be
held at the offices of Redman Nichols, Maclaren House, Skerne
Road, Driffield, East Yorkshire YO25 6PN, on 4 November 2005, at
10:00 a.m. and 10:30 a.m.

CONTACT: UK AEROSOLS LTD.
         Lexus House Annexe
         Rosslyn Crescent
         Harrow
         Middlesex
         England
         HA1 2RZ
         Phone: +44(0) 208863 6868
         Fax: +44(0) 20 8426 0872
         Web site: http://www.ukaerosols.com/


WILTON GRAPHICS: Creditors Meeting Set Next Week
------------------------------------------------
G. J. McCarthy, Director of Wilton Graphics Limited, informs that
a Meeting of Creditors of the Company will be held at the offices
of Portland Business & Financial Solutions Ltd., 1640 Parkway,
Solent Business Park, Whiteley, Fareham, Hampshire PO15 7AH, on
13 October 2005, at 11:00 a.m.

In accordance with the provisions of section 98(2)(a) of the
Insolvency Act 1986, Peter Robin Bacon, of Portland Business &
Financial Solutions Ltd., 1640 Parkway, Solent Business Park,
Whiteley, Fareham, Hampshire PO15 7AH, being a qualified
Insolvency Practitioner will furnish Creditors with such
information concerning the Company's affairs as they may
reasonably require.

CONTACT:  WILTON GRAPHICS LTD.
          10 Harnham Trading Estate
          Salisbury
          SP2 8NW
          Wiltshire
          Phone: 01722 320300
          Fax: 01722 331142


                            *********


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
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Copyright 2005.  All rights reserved.  ISSN 1529-2754.

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