SEC NEWS DIGEST

Issue 2005-15                                                January 25, 2005



COMMISSION ANNOUNCEMENTS


COMMISSION MEETINGS

CLOSED MEETING - THURSDAY, FEBRUARY 3, 2005  2:00 P.M.

     The subject matter of the closed meeting scheduled for Thursday, Feb. 3,
     2005,  will  be:    Formal  orders  of investigations;  Institution  and
     settlement  of  injunctive actions; and Institution  and  settlement  of
     administrative proceedings of an enforcement nature.
     
     At  times, changes in Commission priorities require alterations  in  the
     scheduling  of meeting items.  For further information and to  ascertain
     what,  if  any,  matters have been added, deleted or  postponed,  please
     contact:  The Office of the Secretary at (202) 942-7070.


ENFORCEMENT PROCEEDINGS


IN THE MATTER OF WILLIAM BLACK

     On   January  24, the Commission settled administrative proceedings  and
     issued an administrative order barring William H. Black from association
     with  any  broker or dealer pursuant  to Section 15(b) of the Securities
     Exchange  Act of 1934 (Exchange Act), or any investment adviser pursuant
     to Section 203(f) of the Investment Advisers Act of 1940 (Advisers Act).
     The  Commission instituted proceedings on Nov. 9, 2004, based  upon  the
     entry  of  a  final judgment, dated May 17, 2004, by the  U.S.  District
     Court  for  the  Middle  District of Florida that  permanently  enjoined
     Respondent  from violating Section 17(a) of the Securities Act  of  1933
     (Securities  Act); Sections 10(b), 15(a) and 15(c) of the Exchange  Act;
     and Rules 10b-5 and 15c1-2 thereunder; and Sections 206(1) and 206(2) of
     the Advisers Act.  In that injunctive action, the Commissions complaint
     had  alleged that Respondent acted as an unregistered broker-dealer  and
     unregistered  investment adviser, made materially  false  or  misleading
     statements and omissions to clients concerning the purchase and sale  of
     securities,  and  misappropriated or  diverted  client  funds  for  non-
     investment purposes.
     
     The  Commission accepted an offer of settlement in which Black,  without
     admitting or denying the Commissions findings, agreed to the  entry  of
     the  Order  barring him from association with any broker  or  dealer  or
     investment adviser.   (Rels. 34-51074; IA-2344; File No. 3-11734)
CHINESE  INTERNET  EXECUTIVE TO PAY OVER $1 MILLION  TO  SETTLE  SEC  INSIDER
TRADING CHARGES

     The  Commission today settled insider trading charges against  a  former
     executive of Chinese Internet technology provider NetEase.com,  Inc.,  a
     Beijing-based company.  According to the Commission, Jun Singo Liang,  a
     Chinese  citizen  and  resident who headed NetEases  largest  division,
     avoided losses of over $700,000 by selling his NetEase shares just  days
     before a disappointing financial announcement caused the companys stock
     price  to  plummet.  The Commission alleges that Liang sold  the  shares
     after  learning  that  the  NetEase division he  managed  was  going  to
     substantially  miss its revenue targets.  Without admitting  or  denying
     the  Commissions  charges,  Liang agreed to  pay  over  $1  million  in
     disgorgement and penalties and to be barred from serving as  an  officer
     or director of a public company for five years.
     
     According  to  the Commissions complaint, Liang served as  Senior  Vice
     President and General Manager of NetEases Wireless Business Department,
     the  companys fastest growing division and largest source  of  revenue.
     Shortly  before  NetEase was scheduled to release its financial  results
     for  the  third  quarter of 2003, Liang learned that  his  division  was
     likely  to report a significant revenue shortfall.  Over the two trading
     days  leading  up to the scheduled announcement, Liang  sold  more  than
     47,000  shares of NetEase stock on the Nasdaq National Market to realize
     over  $3 million in sales proceeds.  After NetEase announced the revenue
     shortfall, the stock price plummeted by 23%.  By trading ahead  of  this
     news, Liang avoided more than $700,000 in losses.
     
     Liang,  without  admitting or denying the allegations in the  complaint,
     agreed  to  pay disgorgement and prejudgment interest totaling  $731,169
     and  a  civil penalty of $355,129.  Liang further agreed to a  five-year
     bar from serving as an officer or director of a public company and to  a
     permanent injunction against further violations of Section 10(b) of  the
     Securities Exchange Act of 1934 and Rule 10b-5 thereunder.  [SEC v.  Jun
     Singo Liang, Case No. C-05-00330 (BZ), N.D. Cal.] (LR-19049)
     
SEC SUES MORGAN STANLEY FOR UNLAWFUL IPO ALLOCATION PRACTICES; MORGAN STANLEY
AGREES  TO  SETTLEMENT  CALLING FOR INJUNCTION AND  PAYMENT  OF  $40  MILLION
PENALTY

     The Commission announced the filing of a settled civil injunctive action
     in  federal  court  against  Morgan Stanley & Co.  Incorporated  (Morgan
     Stanley)  relating  to the firms allocation of stock  to  institutional
     customers  in initial public offerings (IPOs) it underwrote during  1999
     and  2000.   In settlement of this matter, Morgan Stanley has consented,
     without  admitting  or denying the allegations of the  complaint,  to  a
     final  judgment  that  would  permanently  enjoin  Morgan  Stanley  from
     violating Rule 101 of the Commissions Regulation M and order it to  pay
     a  $40 million civil penalty.  The settlement terms are subject to court
     approval.
     
     In  its  complaint, the Commission alleges that Morgan Stanley  violated
     Rule  101 of Regulation M under the Securities Exchange Act of  1934  by
     attempting to induce certain customers who received allocations of  IPOs
     to  place purchase orders for additional shares in the aftermarket.  The
     complaint  further  alleges  that  Morgan  Stanley  did  induce  certain
     customers to place such orders during the new issues first few  trading
     days.  [SEC v. Morgan Stanley & Co. Incorporated, Civil Action No.  1:05
     CV00166 (HHK) (D.D.C.)] (LR-19050)
SEC  SUES GOLDMAN SACHS & CO. FOR IPO VIOLATIONS; GOLDMAN SACHS WILL PAY  $40
MILLION

     The  Commission announced today that it charged Goldman Sachs & Co. with
     violating  the  securities law in its allocation of  shares  in  initial
     public  offerings (IPOs) in 1999 and 2000, by inducing or attempting  to
     induce certain customers to purchase shares in the aftermarket.  Goldman
     Sachs  has  agreed to a settlement in which it will pay  a  $40  million
     penalty  and be enjoined from future violations of the applicable  laws.
     The settlement is subject to court approval.
     
     In  connection with this matter, the Commission today filed a  Complaint
     against  Goldman  Sachs  in the U.S. District  Court  for  the  Southern
     District  of New York alleging that Goldman Sachs violated Rule  101  of
     Regulation  M  under the Securities Exchange Act of 1934  by  unlawfully
     attempting  to induce, or inducing, certain customers to purchase  stock
     in  the aftermarket of certain IPOs underwritten by Goldman Sachs during
     1999  and  2000.  According to the Complaint, during restricted periods,
     Goldman Sachs attempted to induce, or induced, certain customers to make
     aftermarket  purchases  of  IPO  stock  in  violation  of  Rule  101  of
     Regulation  M  by engaging in the following activities:   Goldman  Sachs
     communicated   to  certain  customers  that  Goldman  Sachs   considered
     purchases  in  the  immediate  aftermarket  to  be  significant  in  the
     determination  of IPO allocations.  Goldman Sachs also informed  certain
     customers that Goldman Sachs verified whether customers placed orders to
     purchase  stock in the immediate aftermarket following an  IPO.   During
     conversations  or  courses  of  dealing  that  included  the   preceding
     subjects,  Goldman  Sachs sales representatives asked certain  customers
     during  restricted  periods whether, and at  what  prices  and  in  what
     quantities, they intended to place orders to purchase IPO stock  in  the
     immediate aftermarket.  Goldman Sachs encouraged certain customers  that
     had  provided aftermarket interest (expressions of interest in  buying
     shares  in  the aftermarket) to increase the prices they said that  they
     would pay in the aftermarket.  Goldman Sachs also sought and/or accepted
     aftermarket interest from customers based solely or in relevant part  on
     the amount of their prospective allocations.
     
     Through  such  questions and statements about aftermarket orders  during
     restricted  periods,  Goldman Sachs communicated  to  certain  customers
     hopeful  of obtaining IPO allocations that indications of intentions  to
     place orders in the immediate aftermarket, and/or the aftermarket orders
     themselves,  would  increase  their likelihood  of  receiving  favorable
     allocations  of  IPO stock.  Goldman Sachs engaged in a  combination  of
     some  or  all  of  the  foregoing  types of  communications  to  certain
     customers  in  connection with the IPOs of CoSine, Marvell,  and  WebEx,
     Inc.
          
     Goldman  Sachs  has  agreed to settle the Commissions  action  and  has
     consented,  without  admitting  or  denying  the  allegations   of   the
     Complaint,  to  the  entry of a final judgment  that:   (1)  permanently
     enjoins Goldman Sachs from violating Rule 101 of Regulation M under  the
     Exchange Act; and (2) orders a civil penalty of $40 million pursuant  to
     Section 21(d) of the Exchange Act.  [SEC v. Goldman, Sachs & Co.,  Inc.,
     05 Civ. 853 (SAS) SDNY] (LR-19051)
     

ADDITIONS AND CORRECTIONS


     A  summary  in  the  January 24th issue of the Digest, entitled  FORMER
     GENERAL  COUNSEL  OF GEMSTAR-TV GUIDE INTERNATIONAL,  INC.  SETTLES  SEC
     ACTION, did not include the Accounting and Auditing Enforcement release
     number.   The number is AAE Rel. 2176.
     

INVESTMENT COMPANY ACT RELEASES


MERRILL LYNCH LIFE INSURANCE COMPANY, ET AL.

     An  order  has  been issued pursuant to Section 6(c) of  the  Investment
     Company  Act  to Merrill Lynch Life Insurance Company, et  al.  (Merrill
     Lynch),  granting exemptions from Sections 2(a)(32) and  27(i)(2)(A)  of
     the  Act and Rule 22c-1 thereunder.  The order permits the recapture  of
     amounts  applied  to the purchase payments made under  certain  variable
     annuity  contracts and any other separate accounts of Merrill Lynch  and
     its successors in interest, which may offer or support future contracts.
     The  order also applies to certain NASD registered broker-dealers  under
     common  control  with  Merrill Lynch, which in the  future  may  act  as
     principal underwriter or distributor of such contracts.  (Rel.  IC-26726
     - January 21)


SELF-REGULATORY ORGANIZATIONS


PROPOSED RULE CHANGES

     The  New  York Stock Exchange filed a proposed rule change and Amendment
     No.  1  thereto (SR-NYSE-2004-70) to amend Exchange Rule 104 to  require
     specialists  to  yield orally-consummated proprietary trades  to  later-
     arriving system orders.  Publication of the proposal is expected in  the
     Federal Register during the week of January 24.  (Rel. 34-51048)
     
     The  Fixed Income Clearing Corporation filed a proposed rule change (SR-
     FICC-2005-02)  to  amend  the  application  and  continuing   membership
     standards  of the Government Securities Division and the Mortgage-Backed
     Securities  Division.  Publication of the proposal is  expected  in  the
     Federal Register during the week of January 24.  (Rel. 34-51066)
IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGES

     The Commission issued notice of filing and immediate effectiveness of  a
     proposed  rule  change  (SR-PCX-2005-03) filed by the  Pacific  Exchange
     relating  to  Exchange fees and charges. Publication of the proposal  is
     expected  in the Federal Register during the week of January 24.   (Rel.
     34-51053)
     
     A proposed rule change filed by the Philadelphia Stock Exchange adopting
     a  license  fee  for options traded on the Standard & Poors  Depositary
     Receipts  (SR-Phlx-2005-01)  has  become  immediately  effective  under
     Section 19(b)(3)(A) of the Securities Exchange Act of 1934.  Publication
     of  the proposal is expected in the Federal Register during the week  of
     January 24.  (Rel. 34-51060)
     
     The  National  Association of Securities Dealers filed a  proposed  rule
     change (SR-NASD-2004-179) amending Section 13 of Schedule A to the  NASD
     By-Laws  to  raise  the  fee that may be charged by  NASDs  Advertising
     Regulation   Department   for  reviewing  each   and   every   item   of
     advertisement,  sales  literature, and other such material,  whether  in
     printed,  video  or other form, filed or submitted  to  the  NASD.   The
     proposed  rule  change  has become immediately effective  under  Section
     19(b)(3)(A)(ii) of the Securities Exchange Act of 1934.  Publication  of
     the  proposal  is expected in the Federal Register during  the  week  of
     January 24.  (Rel. 34-51075)
     
APPROVAL TO PROPOSED RULE CHANGES
     
     The  Commission granted approval to a proposed rule change (SR-PCX-2004-
     58)  and  Amendment  No.  2 thereto submitted by  the  Pacific  Exchange
     relating  to  the  Exchanges  Minor  Rule  Plan  and  Recommended  Fine
     Schedule.   Publication  of  the proposal is  expected  in  the  Federal
     Register during the week of January 24.  (Rel. 34-51051)
     
     The  Commission approved a proposed rule change to require the immediate
     display of customer limit orders submitted by the Pacific Exchange  (SR-
     PCX-00-15)  and  Amendments No. 1 and 2 thereto, and  issued  notice  of
     filing  and granted accelerated approval to Amendments No. 3, 4,  5,  6,
     and  7  thereto. Publication of the proposal is expected in the  Federal
     Register during the week of January 24.  (Rel. 34-51061)
     
     The  Commission granted approval to a proposed rule change,  as  amended
     (SR-Amex-00-27) submitted by the American Stock Exchange to require  the
     immediate display of customer options limit orders.  Publication of  the
     proposal is expected in the Federal Register during the week of  January
     24.  (Rel. 34-51062)
     
     The  Commission granted approval to a proposed rule change, as  amended,
     (SR-CBOE-2004-35)  submitted by the Chicago Board  Options  Exchange  to
     require the immediate display of customer limit orders.  Publication  of
     the  proposal  is expected in the Federal Register during  the  week  of
     January 24.  (Rel. 34-51063)
     
ACCELERATED APPROVAL OF PROPOSED RULE CHANGE

     The  Philadelphia  Stock  Exchange filed  a  proposed  rule  change  and
     Amendments  No.  1  and  2  thereto  (SR-Phlx-2004-73)  to  require  the
     immediate  display  of  limit  orders, and the  Commission  has  granted
     accelerated  approval to the proposed rule change.  Publication  of  the
     proposal is expected in the Federal Register during the week of  January
     24.  (Rel. 34-51064)
     

SECURITIES ACT REGISTRATIONS


     The following registration statements have been filed with the SEC under
     the  Securities  Act  of  1933.   The reported  information  appears  as
     follows:   Form,  Name, Address and Phone Number (if available)  of  the
     issuer  of the security; Title and the number and/or face amount of  the
     securities being offered; Name of the managing underwriter or  depositor
     (if  applicable);  File number and date filed; Assigned  Branch;  and  a
     designation if the statement is a New Issue.
     
     Registration statements may be obtained in person or by writing  to  the
     Commission's  Public  Reference  Branch  at  450  Fifth  Street,   N.W.,
     Washington,  D.C.  20549  or  at  the  following  e-mail  box   address:
     <publicinfo@sec.gov>.  In most cases, this information is also available
     on the Commission's website: <www.sec.gov>.


F-1     Gentium S.p.A., (39) 031 385111 - 0 ($37,719,100.00) Equity,
        (File 333-122233 - Jan. 24) (BR. 01)

F-1     Aspreva Pharmaceuticals CORP, 1203-4464 MARKHAM STREET, VICTORIA, A1,
        V8Z 7X8, (250) 744-2488 - 0 ($100,000,000.00) Equity,
        (File 333-122234 - Jan. 24) (BR. 01)

F-3     TTI TEAM TELECOM INTERNATIONAL LTD, 7 MARTIN GEHL STREET, KIRYAT ARYEH,
        PETACH TIKVA, L3, 49512, 972 3 926 9700 -
        12,980,778 ($30,245,212.00) Equity, (File 333-122236 - Jan. 24) (BR. 03)

S-8     SCOR, 1 AVENUE DU PRESIDENT WILSON, LA DEFENSE CEDEX, PARIS FRANCE, I0,
        92074, 550,000 ($819,500.00) Equity, (File 333-122237 - Jan. 24)
        (BR. 01)

S-8     CHINA ENERGY & CARBON BLACK HOLDINGS, INC., SHENYANG CHINA,
        NO. 386 QINGNIAN AVENUE, SHENYANG, F4, 00000, 3034943000 -
        700,000 ($700,000.00) Equity, (File 333-122238 - Jan. 24) (BR. 04)

S-8     ADVANCED BIO/CHEM INC, 4800 RESEARCH FOREST DRIVE, THE WOODLANDS, TX,
        77381, 281 364 4016 - 15,000,000 ($3,450,000.00) Equity,
        (File 333-122239 - Jan. 24) (BR. 02)

S-3     LADENBURG THALMANN FINANCIAL SERVICES INC,
        590 MADISON AVENUE 34TH FLOOR, NEW YORK, NY, 10022, 5164701000 -
        0 ($37,620,053.10) Equity, (File 333-122240 - Jan. 24) (BR. 07)

S-1     FUELCELL ENERGY INC, 3 GREAT PASTURE RD, DANBURY, CT, 06813,
        2038256000 - 43,550 ($43,550,000.00) Equity, (File 333-122241 -
        Jan. 24) (BR. 36)

S-8     DELTATHREE INC, 75 BROAD ST, 31ST FL, NEW YORK, NY, 10004, 2125004850 -
        1,009,948 ($3,663,874.00) Equity, (File 333-122242 - Jan. 24) (BR. 37)

S-4     GLACIER BANCORP INC, 49 COMMONS LOOP, ., KALISPELL, MT, 59901,
        4067564200 - 0 ($1.00) Equity, (File 333-122243 - Jan. 24) (BR. 07)

S-4     FNB Financial Services, LP, 103 FOULK ROAD, SUITE 202, WILMINGTON, DE,
        19803, (302) 691-6337 -
        350,000,000 ($350,000,000.00) Non-Convertible Debt, (File 333-122244 -
        Jan. 24) (BR. 07)

S-8     ACTIONVIEW INTERNATIONAL INC, 145 TYEE DRIVE, #388, POINT ROBERTS, WA,
        X1, 98281, 888-889-0888 - 3,000,000 ($300,000.00) Equity,
        (File 333-122245 - Jan. 24) (BR. 05)

S-8     ALTERNET SYSTEMS INC, SUITE 610, 815 WEST HASTINGS STREET, VANCOUVER,
        A1, V6C 1B4, 604-608-2540 - 5,000,000 ($750,000.00) Equity,
        (File 333-122246 - Jan. 24) (BR. 03)

S-8     BV Financial, Inc., 1230 LIGHT STREET, BALTIMORE, MD, 21230,
        410-477-5000 - 78,106 ($749,824.74) Equity, (File 333-122247 - Jan. 24)
        (BR. 07)

S-8     RADICA GAMES LTD, 2 12 AU PUI WAN ST STE V 6TH FLR,
        VALIANT INDUSTRIAL CENTRE, FO FAN SHATIN, K3, 00000, 85226932238 -
        500,000 ($4,165,000.00) Equity, (File 333-122248 - Jan. 24) (BR. 05)

S-3     KRONOS WORLDWIDE INC, 5430 LBJ FREEWAY, SUITE 1700, DALLAS, TX, 75240,
        9722331700 - 0 ($100,000,000.00) Other, (File 333-122249 - Jan. 24)
        (BR. 06)

S-3     COLLEGIATE PACIFIC INC, 13950 SEMLAC, SUITE 200, DALLAS, TX, 75234,
        9722438100 - 0 ($50,000,000.00) Other, (File 333-122250 - Jan. 24)
        (BR. 02)

S-8     Green Mountain Capital Inc., 1207 DELAWARE AVE., SUITE 410, BUFFALO,
        NY, 14209, 716 332 6143 - 600,000,000 ($180,000.00) Equity,
        (File 333-122251 - Jan. 24) (BR. 05)

SB-2    WATER CHEF INC, 6029914534 - 103,115,455 ($20,623,091.00) Equity,
        (File 333-122252 - Jan. 24) (BR. 06)

S-8     BACH-HAUSER INC, 1561 HIGHWAY 3, -, CAYUGA, ONTARIO, A6, N0A 1E0,
        9057725738 - 22,250,000 ($3,560,000.00) Equity, (File 333-122255 -
        Jan. 24) (BR. 08)

S-8     ORACLE CORP /DE/, 500 ORACLE PKWY, REDWOOD CITY, CA, 94065,
        6505067000 - 49,821,035 ($667,103,658.65) Equity, (File 333-122257 -
        Jan. 24) (BR. 03)

S-3     OPTION CARE INC/DE, 485 E. HALF DAY ROAD, SUITE 300, BUFFALO GROVE, IL,
        60089, 8474652100 - 0 ($86,250,000.00) Other, (File 333-122258 -
        Jan. 24) (BR. 01)

S-3     OPTION CARE INC/DE, 485 E. HALF DAY ROAD, SUITE 300, BUFFALO GROVE, IL,
        60089, 8474652100 - 0 ($103,540,000.00) Other, (File 333-122259 -
        Jan. 24) (BR. 01)

S-3     DIVIDEND CAPITAL TRUST INC, 518 SEVENTEENTH STREET, DENVER, CO, 80202,
        3038694700 - 0 ($1,000,000,000.00) Equity, (File 333-122260 - Jan. 24)
        (BR. 08)

S-1     BARRIER THERAPEUTICS INC, 600 COLLEGE ROAD EAST, SUITE 3200, PRINCETON,
        NJ, 08540, 6099451200 - 4,600,000 ($91,586,000.00) Equity,
        (File 333-122261 - Jan. 24) (BR. 01)



RECENT 8K FILINGS


Form  8-K  is  used  by companies to file current reports  on  the  following
events:

1.01 Entry into a Material Definitive Agreement
1.02 Termination of a Material Definitive Agreement
1.03 Bankruptcy or Receivership
2.01 Completion of Acquisition or Disposition of Assets
2.02 Results of Operations and Financial Condition
2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-
     Balance Sheet  Arrangement of a Registrant
2.04 Triggering  Events  That  Accelerate or  Increase  a  Direct  Financial
     Obligation under an Off-Balance Sheet Arrangement
2.05 Cost Associated with Exit or Disposal Activities
2.06 Material Impairments
3.01 Notice of Delisting or Failure to Satisfy a Continued Listing  Rule  or
     Standard; Transfer of Listing
3.02 Unregistered Sales of Equity Securities
3.03 Material Modifications to Rights of Security Holders
4.01 Changes in Registrants Certifying Accountant
4.02 Non-Reliance on Previously Issued Financial Statements  or  a  Related
     Audit Report or Completed Interim Review
5.01 Changes in Control of Registrant
5.02 Departure  of Directors or Principal Officers; Election  of  Directors;
     Appointment of Principal Officers
5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
5.04 Temporary  Suspension  of Trading Under Registrant's  Employee  Benefit
     Plans
5.05 Amendments to the Registrants Code of Ethics, or Waiver of a Provision
     of the Code of Ethics
7.01 Regulation FD Disclosure
8.01 Other Events
9.01 Financial Statements and Exhibits

8-K  reports  may  be  obtained in person or by writing to  the  Commission's
Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549  or
at  the  following e-mail box address:  <publicinfo@sec.gov>.  In most cases,
this   information   is   also   available  on  the   Commission's   website:
<www.sec.gov>.




				STATE     8K ITEM NO.
NAME OF ISSUER                CODE   				    		     DATE     COMMENT
------------------------------------------------------------------------------------------------
7 ELEVEN INC                            TX       1.01                           01/24/05

AAIPHARMA INC                           DE       7.01,9.01                      01/24/05

ADELPHIA COMMUNICATIONS CORP            DE       1.01,9.01                      01/24/05

ADELPHIA COMMUNICATIONS CORP            DE       7.01,9.01                      01/24/05

ADVANCED BIO/CHEM INC                   NV       1.01,2.01                      05/18/04

ADVANCED BIO/CHEM INC                   NV       4.02                           12/29/04

AirRover Wi-Fi Corp.                    DE       2.01,7.01,9.01                 01/18/05

AirRover Wi-Fi Corp.                    DE       5.03,9.01                      01/18/05

AK STEEL HOLDING CORP                   DE       1.01                           01/20/05

ALABAMA NATIONAL BANCORPORATION         DE       2.02,9.01                      01/24/05

ALTERA CORP                             DE       2.02,9.01                      01/24/05

AMANASU TECHNOLOGIES CORP               NV       1.01                           01/24/05

AMERICAN EXPRESS CO                     NY       2.02,7.01                      01/24/05

American Home Mortgage Investment Tru   DE       2.01,8.01,9.01                 12/21/04

AMERICAN HOMESTAR CORP                  TX       7.01,9.01                      01/21/05

AMERICAN MEDICAL SYSTEMS HOLDINGS INC   DE       1.01,2.03,9.01                 01/20/05

AMERICREDIT CORP                        TX       2.02,5.02,9.01                 01/24/05

ANGELICA CORP /NEW/                     MO       1.01                           01/18/05

APPALACHIAN POWER CO                    VA       8.01,9.01                      01/21/05

ARGENTEX MINING CORP                    NV       1.01,9.01                      01/18/05

ARGON ST, Inc.                          DE       4.01,9.01                      09/30/04    AMEND

ARGONAUT TECHNOLOGIES INC               DE       5.02,7.01,9.01                 01/18/05

ARQULE INC                              DE       5.02,9.01                      01/19/05

ASSET BACKED SECURITIES CORP            DE       8.01,9.01                      01/24/05

ATS MEDICAL INC                         MN       2.02,9.01                      01/20/05    AMEND

AUGUST TECHNOLOGY CORP                  MN       1.01,9.01                      01/21/05    AMEND

AXM PHARMA INC                          NV       2.03,9.01                      01/24/05    AMEND

BANC OF AMERICA MORTGAGE SECURITIES I   DE       8.01,9.01                      01/21/05

BANC OF AMERICA MORTGAGE SECURITIES I   DE       8.01,9.01                      01/24/05

BANK OF GRANITE CORP                    DE       5.02                           11/08/04

BANK OF KENTUCKY FINANCIAL CORP         KY       2.02,9.01                      01/24/05

BANKNORTH GROUP INC/ME                  ME       8.01,9.01                      01/21/05

BAYCORP HOLDINGS LTD                    DE       8.01                           01/20/05

BAYVIEW CORP                            NV       1.01,5.02,9.01                 01/17/04    AMEND

BEAR STEARNS COMMERCIAL MORTGAGE  SEC   DE       8.01,9.01                      01/12/05

BEAR STEARNS COMMERCIAL MORTGAGE SECU   DE       8.01,9.01                      01/11/05

Bear Stearns Commercial Mortgage Secu   DE       8.01,9.01                      01/11/05

Bear Stearns Commercial Mortgage Secu   DE       8.01,9.01                      01/11/05

Bear Stearns Commercial Mortgage Secu   DE       8.01,9.01                      01/13/05

BEAR STEARNS COMPANIES INC              DE       2.03                           01/20/05

BENTHOS INC                             MA       1.01,9.01                      01/18/05

BEVERLY ENTERPRISES INC                 DE       7.01,9.01                      01/21/05

BIODELIVERY SCIENCES INTERNATIONAL IN   IN       8.01,9.01                      01/20/05

BLACK HILLS CORP /SD/                   SD       8.01,9.01                      01/24/05

Branded Media CORP                      NV       1.01,3.02,4.01,5.02,8.01,9.01  12/23/04

BROADWING CORP                          DE       3.02                           01/18/05

BROCADE COMMUNICATIONS SYSTEMS INC      DE       1.01,2.02,4.02,5.02,9.01       01/18/05

BUCKEYE TECHNOLOGIES INC                DE       8.01,9.01                      12/31/04

BULLDOG TECHNOLOGIES INC                NV       7.01,9.01                      01/24/05

BWC FINANCIAL CORP                      CA       2.02                           12/31/04

C-BASS 2004-CB8 TRUST                   DE       8.01,9.01                      01/07/05

C-CHIP TECHNOLOGIES CORP                NV       7.01,9.01                      01/24/05

CALIFORNIA COASTAL COMMUNITIES INC      DE       8.01                           01/21/05

CALLAWAY GOLF CO /CA                    DE       1.01,9.01                      01/20/05

CALPINE CORP                            DE       8.01                           01/20/05

CALPINE CORP                            DE       2.02                           01/20/05

CANYON RESOURCES CORP                   DE       8.01,9.01                      01/24/05

CAPITAL AUTO RECEIVABLES INC            DE       8.01,9.01                      01/18/05

CARBO CERAMICS INC                      DE       9.01                           01/17/05

CARMIKE CINEMAS INC                     DE       1.01,9.01                      01/20/05

CELL GENESYS INC                        DE       3.02,8.01                      01/18/05

CERBCO INC                              DE       5.03,9.01                      01/19/05

CHARLES & COLVARD LTD                   NC       1.01,9.01                      01/20/05

CHECKFREE CORP \GA\                     DE       2.02,9.01                      01/20/05

Chembio Diagnostics Inc.                NV       3.02                           11/05/04

CHENIERE ENERGY INC                     DE       1.01,3.03,8.01,9.01            01/24/05

CHINA FUND INC                          MD       9.01                           12/01/04

CHINA WORLD TRADE CORP                  NV       8.01                           01/19/05

CINGULAR WIRELESS LLC                   DE       2.02,9.01                      01/24/05

CIRCOR INTERNATIONAL INC                DE       2.06                           01/21/05

CITIGROUP INC                           DE       1.01,9.01                      01/18/05

CITIGROUP INC                           DE       5.02                           01/24/05

CLASSIC BANCSHARES INC                  DE       8.01,9.01                      01/19/05

CO LIQUIDATION, INC.                    DE       8.01,9.01                      01/15/05

CO LIQUIDATION, INC.                    DE       8.01,9.01                      01/21/05    AMEND

COBIZ INC                               CO       5.02,9.01                      01/20/05

COGNEX CORP                             MA       2.02,9.01                      01/24/05

COMMERCE BANCSHARES INC /MO/            MO       7.01,9.01                      01/24/05

COMMERCIAL CAPITAL BANCORP INC          NV       8.01,9.01                      01/24/05

COMMERCIAL CAPITAL BANCORP INC          NV       2.02,9.01                      01/24/05

COMMERCIAL CAPITAL BANCORP INC          NV       2.02,9.01                      01/24/05

COMMERCIAL MORTGAGE PASS THROUGH CERT   DE       8.01,9.01                      01/18/05

COMMSCOPE INC                           DE       2.02,9.01                      01/24/05

COMMUNITY FIRST FINANCIAL CORP          VA       5.03,9.01                      01/18/05

COMMUNITY SHORES BANK CORP              MI       2.02,9.01                      01/21/05

CONTINENTAL BEVERAGE & NUTRITION, INC   NY       4.01,7.01                      01/17/05

COPPER MOUNTAIN NETWORKS INC            DE       8.01,9.01                      01/21/05

CORNELL COMPANIES INC                   DE       1.01,7.01                      01/24/05

CRANE CO /DE/                           DE       1.01,1.02,2.02,8.01,9.01       01/24/05

CREDIT SUISSE FIRST BOSTON MORTGAGE A   DE       9.01                           01/24/05

CSB BANCORP INC /OH                     OH       2.02,9.01                      01/24/05

CSP INC /MA/                            MA       3.01,9.01                      01/24/05

CWALT INC                                        8.01,9.01                      11/30/04

CWMBS INC                               DE       8.01,9.01                      08/30/04

CYGNUS INC /DE/                         DE       5.02                           01/20/05

DAN RIVER INC /GA/                      GA       1.03,9.01                      01/18/05

DATAWATCH CORP                          DE       2.02,9.01                      01/24/05

DEL LABORATORIES INC                    DE       8.01,9.01                      01/21/05

DELTA PETROLEUM CORP/CO                 CO       2.01,8.01,9.01                 01/21/05

DENBURY RESOURCES INC                   DE       5.02,9.01                      01/21/05

DESIGN WITHIN REACH INC                 DE       5.02,9.01                      01/24/05

DIGITAS INC                             DE       1.01,9.01                      01/21/05

DISCOVERY PARTNERS INTERNATIONAL INC    DE       1.01,1.02,5.02                 01/18/05

DYNATRONICS CORP                        UT       5.02,9.01                      01/18/05

EAST PENN FINANCIAL CORP                         8.01                           01/24/05

EATON CORP                              OH       2.02,9.01                      01/24/05

EDO CORP                                NY       7.01                           01/24/05

ELECTROGLAS INC                         DE       1.01                           01/24/05

ENCISION INC                            CO       2.02,9.01                      01/24/05

ENDEAVOUR INTERNATIONAL CORP            NV       1.01,2.03,3.02,9.01            01/20/05

ENDO PHARMACEUTICALS HOLDINGS INC       DE       1.01,9.01                      01/21/05

EVEREST RE GROUP LTD                    C8       7.01,9.01                      01/24/05

EYI INDUSTRIES INC                      NV       8.01                           01/24/05

EYI INDUSTRIES INC                      NV       8.01                           01/24/05    AMEND

FALCON FINANCIAL INVESTMENT TRUST       MD       1.01,9.01                      01/19/05

FARMERS CAPITAL BANK CORP               KY       2.02,9.01                      01/21/05

FAUQUIER BANKSHARES INC                 VA       1.01                           01/21/05

FAUQUIER BANKSHARES INC                 VA       2.02,9.01                      01/21/05

FEDERAL NATIONAL MORTGAGE ASSOCIATION            7.01,9.01                      01/21/05

FILENET CORP                            DE       2.02,9.01                      12/31/04

FIRST BUSEY CORP /NV/                   NV       1.01                           01/18/05

FIRST CITIZENS BANCSHARES INC /DE/      DE       2.02,7.01,9.01                 01/24/05

FIRST FINANCIAL BANCORP /OH/            OH       2.02,7.01,9.01                 01/24/05

FIRST FINANCIAL SERVICE CORP            KY       2.02,9.01                      01/20/05

FIRST NATIONAL FUNDING LLC              NE       8.01,9.01                      01/18/05

FIRST UNION COM MOR SEC INC COM MOR P   NY       8.01,9.01                      01/18/05

FIRST UNION COMM MORT TRUST COMM MOR    NY       8.01,9.01                      01/18/05

FIRST UNION COMM MORT TRUST COMM MOR    NY       8.01,9.01                      01/18/05

FIRST UNION COMM MORT TRUST COMM MOR    NY       8.01,9.01                      01/18/05

FIRST UNION COMM MORT TRUST COMM MOR    NY       8.01,9.01                      01/18/05

FIRST UNION COMMERCIAL MORTGAGE PASS    NC       8.01,9.01                      01/14/05

FIRST UNION NATIONAL BANK COM MORT PA   NC       8.01,9.01                      01/14/05

FLOTEK INDUSTRIES INC/CN/               DE       8.01                           01/20/05

FNB BANCORP/CA/                                  8.01,9.01                      01/21/05

FOUR OAKS FINCORP INC                   NC       2.02,9.01                      01/24/05

FREEPORT MCMORAN COPPER & GOLD INC      DE       1.01                           01/18/05

GAINSCO INC                             TX       1.01,1.02,2.01,3.02,3.03,5.02  01/18/05

GE Capital Credit Card Master Note Tr   DE       8.01,9.01                      01/18/05

GE Capital Credit Card Master Note Tr   DE       8.01,9.01                      01/18/05

GE COMM MORT PASS THROUGH CERT SERIES   DE       8.01,9.01                      01/10/05

GE COMMERCIAL MORT CORP PASS THR CERT   DE       8.01,9.01                      01/10/05

GE Dealer Floorplan Master Note Trust   DE       8.01,9.01                      01/20/05

GENERAL COMPONENTS, INC.                NV       5.02,5.03,9.01                 01/24/05

GLIMCHER REALTY TRUST                   MD       1.01,5.02,9.01                 01/20/05

GLOBAL IMAGING SYSTEMS INC              DE       5.02                           01/20/05

GMAC COMMERCIAL MORTGAGE PASS-THR CER   DE       8.01,9.01                      01/10/05

Great Wolf Resorts, Inc.                DE       9.01                           01/24/05    AMEND

GREENE COUNTY BANCORP INC               DE       8.01                           01/19/05

GREENS WORLDWIDE INC                    AZ       8.01                           01/24/05

GS FINANCIAL CORP                       LA       2.02,9.01                      01/21/04

GS MORT SEC CORP II COMMERCIAL MORT P   DE       8.01,9.01                      01/10/05

GT DATA CORP                            NV       2.01,9.01                      01/19/05

GUARANTY FEDERAL BANCSHARES INC         DE       5.02,9.01                      01/18/05

HARLEY DAVIDSON INC                     WI       2.02,9.01                      01/20/05

HARRINGTON WEST FINANCIAL GROUP INC/C            2.02,9.01                      01/24/05

Hartford Life Global Funding Trust 20   CT       1.03,2.01,8.01,9.01            01/18/05

Hartford Life Global Funding Trust 20   CT       1.03,2.01,8.01                 01/18/05

Hartford Life Global Funding Trust 20   CT       1.03,2.01,8.01,9.01            01/18/05

HARTVILLE GROUP  INC                    NV       4.01,9.01                      01/18/05

HAWAIIAN ELECTRIC INDUSTRIES INC        HI       2.03                           01/18/05

HAWAIIAN HOLDINGS  INC                  DE       8.01,9.01                      01/20/05

HEALTH MANAGEMENT ASSOCIATES INC        DE       8.01                           01/24/05

HEARTLAND FINANCIAL USA INC             DE       2.02,9.01                      12/31/04

HONDA AUTO REC 2003-3 OWNER TRUST       DE       8.01,9.01                      01/21/05

HONDA AUTO REC 2003-4 OWNER TRUST       DE       8.01,9.01                      01/18/05

HONDA AUTO REC 2003-5 OWNER TRUST       DE       8.01,9.01                      01/18/05

HONDA AUTO RECEIVABLES 2002-1 OWNER T            8.01,9.01                      01/18/05

HONDA AUTO RECEIVABLES 2002-2 OWNER T            8.01,9.01                      01/18/05

HONDA AUTO RECEIVABLES 2002-3 OWNER T            8.01,9.01                      01/18/05

HONDA AUTO RECEIVABLES 2002-4 OWNER T            8.01,9.01                      01/18/05

HONDA AUTO RECEIVABLES 2003-1 OWNER T            8.01,9.01                      01/18/05

HONDA AUTO RECEIVABLES 2004-1 OWNER T   DE       8.01,9.01                      01/18/05

Honda Auto Receivables 2004-2 Owner T   CA       8.01,9.01                      01/18/05

Honda Auto Receivables 2004-3 Owner T   CA       8.01,9.01                      01/18/05

HONDA RECEIVABLES CORP AUTO REC 2003    DE       8.01,9.01                      01/21/05

HORIZON BANCORP /IN/                    IN       2.02,9.01                      01/21/05

HOST AMERICA CORP                       DE       3.02                           01/19/05

HOST AMERICA CORP                       DE       7.01,9.01                      01/24/05

IEC ELECTRONICS CORP                    DE       2.02,9.01                      01/24/05

IMCOR PHARMACEUTICAL CO                 NV       4.01,8.01                      01/19/05

INERGY L P                              DE       5.03,9.01                      01/21/05

INNOVEX INC                             MN       5.02,9.01                      01/20/05

INSTEEL INDUSTRIES INC                  NC       2.02                           01/24/05

INTEGRA BANK CORP                       IN       2.02,9.01                      01/24/05

INTEGRAL SYSTEMS INC /MD/               MD       1.01,2.03,9.01                 01/19/05

INTERGRAPH CORP                         DE       1.01,9.01                      01/21/05

INTERMAGNETICS GENERAL CORP             NY       5.04                           01/24/05

INTERNATIONAL DISPLAYWORKS, INC         OR       5.02,9.01                      01/24/05

INVESTNET INC                           NV       5.02                           01/18/05

IONICS INC                              MA       7.01,9.01                      01/24/05

IQ BIOMETRIX INC                        DE       1.01,9.01                      01/13/05

ISRAMCO INC                             DE       4.01,9.01                      01/19/05

J CREW GROUP INC                        NY       8.01                           01/24/05

J.P. Morgan Chase Commercial Mortgage   DE       8.01,9.01                      01/12/05

JDA SOFTWARE GROUP INC                  DE       2.02,9.01                      01/24/05

JEFFERIES GROUP INC /DE/                DE       1.01,9.01                      01/21/05

JP MORGAN COMMERCIAL MORT PASS THR CE   DE       8.01,9.01                      01/18/05

JUNO LIGHTING INC                       DE       2.02,7.01,9.01                 11/30/04

KEY ENERGY SERVICES INC                 MD       1.01,3.03,9.01                 01/21/05

KEYCORP /NEW/                           OH       1.01,9.01                      01/20/05

KIMBALL INTERNATIONAL INC               IN       1.01,9.01                      01/24/05    AMEND

KIMBERLY CLARK CORP                     DE       2.02                           01/24/05

KINDER MORGAN ENERGY PARTNERS L P       DE       7.01                           01/24/05

KINDER MORGAN INC                       KS       7.01                           01/24/05

KINDER MORGAN MANAGEMENT LLC            DE       7.01                           01/24/05

KINETIC CONCEPTS INC /TX/               TX       2.02,9.01                      01/24/05

KINGSLEY COACH INC                      DE       2.03,3.02                      01/21/05

KRISPY KREME DOUGHNUTS INC              NC       1.01,5.02,5.03,9.01            01/18/05

LABORATORY CORP OF AMERICA HOLDINGS     DE       7.01                           01/24/05

LACLEDE STEEL CO /DE/                   DE       8.01,9.01                      12/31/04

LAS VEGAS GAMING INC                    NV       2.01                           01/14/05

LEGG MASON INC                          MD       2.02,9.01                      12/31/04

LEXMARK INTERNATIONAL INC /KY/          DE       2.02,9.01                      01/24/05

LOEWS CORP                              DE       2.03                           01/18/05

LONGPORT INC                            DE       7.01,9.01                      01/21/05

MACC PRIVATE EQUITIES INC               DE       8.01,9.01                      01/21/05

MACROVISION CORP                        DE       1.01,5.02,9.01                 01/20/05

MAGIC LANTERN GROUP  INC                NY       4.01,9.01                      01/18/05

MATERIAL TECHNOLOGIES INC /CA/          DE       4.01,9.01                      01/21/05

MAXTOR CORP                             DE       2.06                           01/18/05

MCMORAN EXPLORATION CO /DE/             DE       1.01,9.01                      01/19/05

MEDAREX INC                             NJ       1.01,9.01                      11/07/04

MEDIA SCIENCES INTERNATIONAL INC        DE       1.01,9.01                      01/24/05

MEDQUIST INC                            NJ       8.01,9.01                      01/21/05

MEDTRONIC INC                           MN       8.01,9.01                      01/24/05

MELLON FINANCIAL CORP                   PA       1.01,9.01                      01/18/05

MERCURY GENERAL CORP                    CA       8.01                           01/19/05

MERRILL LYNCH MORTGAGE INVESTORS INC    DE       8.01,9.01                      01/21/05

MERRILL LYNCH MORTGAGE INVESTORS INC    DE       8.01,9.01                      01/24/05

MERRILL LYNCH MORTGAGE INVESTORS INC    DE       8.01,9.01                      01/12/05

MICRON ENVIRO SYSTEMS INC               NV       8.01                           01/24/05

MIDCAROLINA FINANCIAL CORP              NC       2.02,9.01                      01/24/05

MIKOHN GAMING CORP                      NV       7.01,8.01,9.01                 01/23/05

MINDSPEED TECHNOLOGIES, INC             DE       2.02,9.01                      01/24/05

MOLECULAR IMAGING CORP                  DE       4.01,9.01                      01/24/05

MOOG INC                                NY       2.02,9.01                      01/24/05

MORGAN STAN DEAN WIT CAP COM MORT PS    DE       8.01,9.01                      01/13/05

Morgan Stanley Capital I Trust 2004 H   DE       8.01,9.01                      01/14/05

Morgan Stanley Capital I Trust 2004 I   DE       8.01,9.01                      01/18/05

Morgan Stanley Capital I Trust Series   DE       8.01,9.01                      01/13/05

MORTGAGE ASSET SECURITIZATION TRANSAC   DE       8.01,9.01                      01/24/05

MOSCOW CABLECOM CORP                    DE       5.03                           01/20/05

MOSCOW CABLECOM CORP                    DE       5.01                           01/11/05

MOSCOW CABLECOM CORP                    DE       5.01                           01/11/05    AMEND

MTC TECHNOLOGIES INC                    DE       2.01,9.01                      01/18/05

NATHANIEL ENERGY CORP                   NV       4.01                           01/12/04    AMEND

NATIONAL BANKSHARES INC                 VA       8.01                           12/31/04

NATIONAL CITY AUTO RECEIVABLES TRUST    DE       8.01,9.01                      01/18/05

NATIONAL CITY AUTO RECEIVABLES TRUST             8.01,9.01                      01/18/05

NATIONAL CITY CREDIT CARD MASTER TRUS            8.01,9.01                      01/18/05

NBTY INC                                DE       2.02,9.01                      01/21/05

NETFLIX INC                             DE       2.02,9.01                      01/24/05

NETWORK 1 SECURITY SOLUTIONS INC        DE       1.01,9.01                      01/18/05    AMEND

NETWORK INSTALLATION CORP               NV       2.01,2.03                      01/17/05

NICOR INC                               IL       5.02,9.01                      01/20/05

NNN 2002 VALUE FUND LLC                          1.01,9.01                      01/07/05

NOMURA ASSET ACCEPTANCE CORP            DE       8.01,9.01                      01/13/05

NORTHEAST BANCORP /ME/                  ME       2.02,7.01,9.01                 12/31/04

NORTHERN ILLINOIS GAS CO /IL/ /NEW/     IL       5.02,9.01                      01/20/05

NOVA COMMUNICATIONS LTD                 NV       5.01,5.02,5.03,9.01            01/17/05

NUVELO INC                              DE       1.01                           01/21/05

NUVELO INC                              DE       2.02,8.01,9.01                 01/24/05

OCCIDENTAL PETROLEUM CORP /DE/          DE       2.02,8.01                      01/24/05

ODYSSEY HEALTHCARE INC                  DE       1.01                           01/19/05

OGE ENERGY CORP                         OK       5.03,9.01                      01/19/05

ONEOK INC /NEW/                         OK       5.02,9.01                      01/24/05

ONYX SOFTWARE CORP/WA                   WA       5.02,9.01                      01/19/05

OPTICAL CABLE CORP                      VA       1.01,9.01                      12/10/04

PACEL CORP                              VA       5.02,5.03,8.01,9.01            01/19/05

PACIFIC FINANCIAL CORP                  WA       7.01                           01/21/05

PARADYNE NETWORKS INC                   DE       2.02                           01/24/05

PAXAR CORP                              NY       2.05                           01/18/05

PEDIATRIC SERVICES OF AMERICA INC       DE       5.02                           01/19/05

PEOPLES BANCORP INC/MD                  MD       5.03,9.01                      01/18/05

PEOPLES CHOICE HOME LOAN SECURITIES C            2.01,9.01                      01/24/05

PEOPLES HOLDING CO                      MS       1.01,3.02,9.01                 01/24/05

PEPCO HOLDINGS INC                      DE       5.02                           01/19/05

PERMIAN BASIN ROYALTY TRUST             TX       2.02,9.01                      01/21/05

PHARMACYCLICS INC                       DE       8.01,9.01                      01/24/05

PHARMOS CORP                            NV       8.01,9.01                      01/23/05

PHOTONIC PRODUCTS GROUP INC             NJ       2.02                           01/24/05

PILGRIMS PRIDE CORP                     DE       7.01                           01/24/05

PILGRIMS PRIDE CORP                     DE       2.02,9.01                      01/24/05

PILGRIMS PRIDE CORP                     DE       7.01                           01/24/05

PINNACLE DATA SYSTEMS INC               OH       1.01,9.01                      01/01/05

PIONEER COMPANIES INC                   DE       8.01,9.01                      01/21/05

POLYCOM INC                             DE       5.02,5.03,9.01                 01/18/05

PREMIER FINANCIAL BANCORP INC           KY       1.01,9.01                      01/19/05

PRESSTEK INC /DE/                       DE       9.01                           11/05/04    AMEND

PROSPERITY BANCSHARES INC               TX       1.01,9.01                      01/18/05

PSB HOLDINGS INC /WI/                   WI       1.01                           01/18/05

PUBLIC SERVICE ENTERPRISE GROUP INC     NJ       1.01,9.01                      01/18/05

PULITZER INC                            DE       2.02,9.01                      01/24/05

QUANTUM CORP /DE/                       DE       5.02                           01/24/05

QUINTEK TECHNOLOGIES INC                         1.01                           01/24/05

QUOVADX INC                             DE       5.02                           01/19/05

R&G FINANCIAL CORP                      PR       2.02,9.01                      01/24/05

RAPTOR NETWORKS TECHNOLOGY  INC                  1.01,2.03,8.01                 01/14/05

RAYOVAC CORP                            WI       1.01,8.01,9.01                 01/24/05

RES CARE INC /KY/                       KY       1.02,5.02,7.01,9.01            01/19/05

RESIDENTIAL ACCREDIT LOANS INC          DE       8.01,9.01                      01/24/05

RICKS CABARET INTERNATIONAL INC         TX       2.01,2.03,9.01                 01/24/05

ROYSTER-CLARK INC                       DE       1.01,9.01                      01/21/05    AMEND

SAMSONITE CORP/FL                       DE       1.01                           01/24/05

SAN JUAN BASIN ROYALTY TRUST            TX       2.02,9.01                      01/21/05

SAXON ASSET SECURITIES CO               VA       8.01                           01/24/05

SEABULK INTERNATIONAL INC               DE       1.01,9.01                      01/20/05

SECURED FINANCIAL NETWORK, INC.         NV       1.01,5.02,9.01                 01/11/05

SECURITY CAPITAL CORP/DE/               DE       3.01,9.01                      01/19/05

SHILOH INDUSTRIES INC                   DE       1.01,9.01                      01/18/05

SHOLODGE INC                            TN       7.01,8.01,9.01                 01/24/05

SILICON LABORATORIES INC                DE       2.02,9.01                      01/24/05

SILICON STORAGE TECHNOLOGY INC          CA       8.01                           01/20/05

SILVERSTAR HOLDINGS LTD                 B0       7.01                           01/18/05

SIMTROL  INC                            DE       5.02                           01/20/05

SIRVA INC                               DE       1.01,5.02,9.01                 01/21/05

SONESTA INTERNATIONAL HOTELS CORP       NY       1.01                           01/24/05

SONOSITE INC                                     8.01                           01/12/05

SOURCECORP INC                          DE       4.02,9.01                      01/17/05

SOURCECORP INC                          DE       7.01,9.01                      01/21/05

SOUTHWESTERN ENERGY CO                  AR       2.02                           01/24/05

SOUTHWESTERN ENERGY CO                  AR       7.01                           01/24/05

SOVEREIGN BANCORP INC                   PA       1.01,3.03,9.01                 01/19/05    AMEND

SPEEDEMISSIONS INC                      FL       3.02                           01/18/05

STATE BANCORP INC                       NY       2.02,9.01                      01/21/05

STATION CASINOS INC                     NV       2.02                           01/24/05

STEAKHOUSE PARTNERS INC                 DE       3.02,9.01                      01/19/05

STEEL TECHNOLOGIES INC                  KY       2.02,9.01                      12/31/04

STRIDE RITE CORP                        MA       1.01                           01/18/05

Structured Adjustable Rate Mortgage L   DE       8.01,9.01                      12/30/04

Structured Adjustable Rate Mortgage L   DE       8.01,9.01                      12/30/04

STRUCTURED ASSET SECURITIES CORP        DE       8.01                           01/20/05

STUDENT LOAN CORP                       DE       1.01,5.02,8.01,9.01            01/20/05

SUNGARD DATA SYSTEMS INC                DE       1.01                           01/19/05

SURMODICS INC                           MN       1.01,2.01,3.02,9.01            01/18/05

SUSSEX BANCORP                          NJ       2.02,9.01                      01/20/05

SVC FINANCIAL SERVICES INC              CO       4.01,9.01                      01/09/05

TCF FINANCIAL CORP                      DE       2.02,7.01,9.01                 01/24/05

TECHNITROL INC                          PA       2.02,9.01                      01/24/05

TELIK INC                               DE       8.01,9.01                      01/24/05

TENET HEALTHCARE CORP                   NV       8.01                           01/24/05

TERCICA INC                             DE       1.01,2.03,3.02                 01/21/05

TGT PIPELINE LLC                        DE       1.01,2.03,9.01                 01/24/05

THERAGENICS CORP                        DE       7.01                           01/24/05

TOP GROUP HOLDINGS INC                  CO       5.02                           01/21/05

TRANSMETA CORP                          DE       1.01                           01/20/05

TRANSWITCH CORP /DE                     DE       2.02,9.01                      01/24/05

TRAVELZOO INC                           DE       8.01                           01/24/05

TRAVELZOO INC                           DE       2.02,9.01                      01/24/05

TRESTLE HOLDINGS INC                    DE       3.02                           01/21/05

TUMBLEWEED COMMUNICATIONS CORP          DE       2.02,5.02,9.01                 01/24/05

U S PHYSICAL THERAPY INC /NV            NV       5.02,9.01                      01/21/05

UNION NATIONAL FINANCIAL CORP / PA      PA       2.02                           12/31/04

UNION PACIFIC CORP                      UT       2.02,9.01                      01/24/05

UNION PACIFIC CORP                      UT       7.01,9.01                      01/24/05

UNION PACIFIC RAILROAD CO/DE            DE       2.02,9.01                      01/24/05

UNION PACIFIC RAILROAD CO/DE            DE       7.01,9.01                      01/24/05

UNITEDGLOBALCOM INC                     DE       1.01,9.01                      01/17/05

UNIZAN FINANCIAL CORP                   OH       2.06,9.01                      01/24/05

US CAN CORP                             DE       5.02,9.01                      01/20/05

VENTAS INC                              DE       1.01,9.01                      01/18/05

VERISITY LTD                                     2.02,9.01                      01/24/05

VERTEL CORP                             CA       8.01                           01/25/04

VIGNETTE CORP                           DE       1.01,9.01                      01/18/05

VINEYARD NATIONAL BANCORP               CA       7.01,9.01                      01/24/05

Wachovia Bank Commercial Mortgage Tru   NC       8.01,9.01                      01/18/05

WACHOVIA COMM MORT SEC INC COM MORT P   NC       8.01,9.01                      01/18/05

WACHOVIA COMMERCIAL MORT PASS THR CER   NC       8.01,9.01                      01/18/05

Wachovia Commercial Mort Pass Thr Cer   NC       8.01,9.01                      01/18/05

WACHOVIA COMMERCIAL MORT PASS THRU CE   NC       8.01,9.01                      01/18/05

WACHOVIA COMMERCIAL MORT PASS THRU CE   NC       8.01,9.01                      01/18/05

WACHOVIA COMMERCIAL MORT SEC INC  PAS   NC       8.01,9.01                      01/18/05

WACHOVIA COMMERCIAL MORT SEC INC COM    NC       8.01,9.01                      01/18/05

WASHINGTON MUTUAL INC                   WA       1.01,9.01                      01/18/05

WASHINGTON MUTUAL MORTGAGE SECURITIES   DE       9.01                           01/20/05

WELLS FARGO ASSET SECURITIES CORP       DE       8.01,9.01                      01/24/05

WESTPAC SECURITISATION MANAGEMENT PTY            9.01                           01/19/05

WEYERHAEUSER CO                         WA       2.02                           12/26/04

WFS FINANCIAL 2004-1 OWNER TRUST                 8.01,9.01                      01/20/05

WFS FINANCIAL 2004-2 OWNER TRUST        CA       8.01,9.01                      01/20/05

WFS Financial 2004-3 Owner Trust        CA       8.01,9.01                      01/18/05

WFS Financial 2004-4 Owner Trust        CA       8.01,9.01                      01/18/05

WHOLESALE AUTO RECEIVABLES CORP         DE       8.01,9.01                      01/18/05

WHOLESALE AUTO RECEIVABLES CORP         DE       8.01,9.01                      01/18/05

WHOLESALE AUTO RECEIVABLES CORP         DE       8.01,9.01                      01/18/05

Wilber CORP                                      2.02,9.01                      01/21/05

WORLD ACCEPTANCE CORP                   SC       2.02,7.01,9.01                 01/21/05

WORLD AIR HOLDINGS, INC.                DE       8.01,9.01                      01/20/05

WORLD FINANCIAL NETWORK CREDIT CARD M   DE       8.01,9.01                      01/18/05

ZONE 4 PLAY INC                         NV       1.01,9.01                      01/17/05