SEC NEWS DIGEST

Issue 2005-13                                                January 21, 2005

ENFORCEMENT PROCEEDINGS
     

ORDER ISSUED IN THE MATTER OF ASSET EQUITY, ET AL.

     On  January  19, an Administrative Law Judge has issued an Order  Making
     Findings  and Revoking Registrations by Default In the Matter  of  Asset
     Equity Group, Inc., et al., Administrative Proceeding No. 3-11761.   The
     Order  Instituting  Proceedings alleged that  Respondents  Asset  Equity
     Group,  Inc.,  Household  Direct,  Inc.,  International  Brands,   Inc.,
     Interspace  Enterprises, Inc., and Mega Micro Technologies Group,  Inc.,
     failed to file required annual and quarterly reports for several periods
     while  their securities were registered with the Securities and Exchange
     Commission.   The Default Order finds these allegations to be  true  and
     revokes the registrations of the securities of these Respondents.  (Rel.
     34- 51059; File No. 3-11761)
     
SEC SUES QUENCH, INC., ITS PRESIDENT, TWO DIRECTORS AND OTHERS IN CONNECTION
WITH HALTED PUMP-AND-DUMP SCHEME
                                      
     On January 20, the SEC filed a civil action in the United States
     District Court for the Southern District of Florida (Ft. Lauderdale
     Division) against Quench, Inc., a bottled water distributor, Lyndell
     Parris, its president, Lennox Parris, a director, and Lester Parris, a
     consultant and former director, as well as Sprout Investments, LLC,
     Alpine Equity, LLC and their managing members Joel Ramsden, Michael Rao.
     The filing of the civil action was preceded by the Commissions
     issuance, on March 18, 2004, of an order suspending trading in the
     securities of Quench.
     
     According to the complaint, Quench, and Lyndell, Lester and Lennox
     Parris engaged in a scheme to prime the market for Quench stock by
     issuing at least 11 false and misleading press releases between January
     15 and March 19, 2004.  The SEC further alleges that Quench claimed,
     falsely, in the press releases that it had secured distribution
     contracts with such prominent companies as Time Warner, 7-Eleven and
     Walt Disney-Grosvenor Resorts.  The SEC also alleges that, concurrent
     with the false press releases, Lester and Lennox Parris issued 28.6
     million unregistered shares of Quench stock to Sprout and Alpine for
     $2.55 million.  Finally, the SEC alleges that Ramsden and Rao, joint
     owners of Sprout and Alpine, sold the unregistered Quench shares into
     the artificially primed market, netting profits $2.4 million.
     
     In  its  complaint, the SEC alleges that Quench, Lennox Parris,  Lester
     Parris, Sprout, Alpine, Ramsden and Rao violated Sections 5(a) and  5(c)
     of  the  Securities Act of 1933, and that Quench, Lester Parris, Lennox
     Parris  violated Section 10(b) of the Securities Exchange Act  of  1934,
     and  Rule 10b-5 thereunder.  Additionally, the SEC alleged that  Lyndell
     Parris  violated  Section  10(b)  the  Exchange  Act,  and  Rule   10b-5
     thereunder or, in the alternative, aided and abetted Quenchs antifraud
     violations.
     
     In  its  action,  the  SEC is seeking against each  of  the  defendants,
     injunctions,  accountings, disgorgement plus prejudgment  interest,  and
     civil penalties.  Against Lyndell, Lester and Lennox Parris, the SEC  is
     seeking  an  officer  and director bar, and against  Lester  and  Lennox
     Parris, a penny stock bar.  [SEC v. Qeench, Inc., Lyndell Parris, Lennox
     Parris,  Joel Ramsden, Michael Rao, Sprout Investments, LLC  and  Alpine
     Equity,   LLC,  Civil  Action  No.  05-80044,  USDC/SDFL/Ft.  Lauderdale
     Division]  (LR-19040)
     
SECURITES  AND  EXCHANGE COMMISSION SUES FORMER VICE  PRESIDENT  OF  ATLANTA,
GEORGIA INVESTMENT ADVISER FOR STEALING AT LEAST $5.4 MILLION OF CLIENT FUNDS

     On  January  20, the Commission filed a complaint in the  U.S.  District
     Court  for the Northern District of Georgia against Susana P.  Longo,  a
     former  vice  president  in charge of compliance  at  Applied  Financial
     Group,  Inc.   Applied  Financial Group is an  Atlanta-based  investment
     adviser. The complaint alleges that from early 2000 through early  2004,
     Ms.  Longo  misappropriated  at least $5.4 million  from  the  brokerage
     accounts  of  four  profit-sharing plans that were  managed  by  Applied
     Financial  Group.  The complaint alleges that Ms. Longo effectuated  her
     scheme by placing unauthorized sell orders in these accounts and forging
     documents that transferred the proceeds from these sales to the accounts
     of  two  elderly  women,  who  were also  advisory  clients  of  Applied
     Financial  Group.   Longo then forged the womens signatures  on  checks
     drawn  on their accounts, and made those checks payable to herself,  her
     creditors, or her relatives.  The complaint alleges that Longo concealed
     her scheme by altering the account statements that the clients received.
     The Commissions complaint alleges that Ms. Longos conduct violated the
     antifraud provisions of the federal securities laws, Section 17(a) of
     the Securities Act of 1933, Section 10(b) of the Securities Exchange Act
     of 1934 and Rule 10b-5 thereunder, and aided and abetted the antifraud
     provisions of the Investment Advisers Act of 1940, Sections 206(1) and
     206(2).  The complaint seeks an injunction, disgorgement of ill-gotten
     gains plus prejudgment interest thereon, and civil penalties.
     The SEC acknowledges the assistance and cooperation of the U.S.
     Attorneys Office for the Northern District of Georgia, which also
     announced today that it had filed criminal charges against Ms. Longo
     based upon the same conduct, the Employee Benefits Security
     Administration of the U.S. Department of Labor, and the Federal Bureau
     of Investigation.  [SEC v. Susana P. Longo, Case No. 1:05-CV-0164, N.D.
     Ga.]  (LR-19041)
     

SEC FILES CONTEMPT ACTION AGAINST MICHAEL LAUER FOR VIOLATING TWO COURT
ORDERS REQUIRING HIM TO APPEAR FOR HIS DEPOSITION

     The Securities and Exchange Commission announced that on January 11 it
     filed with the United States District Court for the Southern District of
     Florida an Application for an Order to Show Cause Why Michael Lauer
     Should Not be Held in Civil Contempt for Violating the Courts Dec. 22,
     2004, and Jan. 4, 2005, Orders Requiring Him to Appear for his Duly
     Noticed Deposition.  The Commissions contempt application asserts that
     despite two court orders requiring Lauer to appear for his duly noticed
     deposition, Lauer failed to appear for his deposition on Jan. 5, 2005,
     and Jan. 6, 2005.  The Commission is seeking to have the Court hold
     Lauer in civil contempt and sanction him.
     
     On Jan. 13, 2005, Chief United States Magistrate Judge Ann E. Vitunac
     granted the Commissions Application and ordered Lauer to show cause in
     writing within 10 days why the Court should not recommend to the
     District Court that Lauer be held in civil contempt for violating the
     Orders.  [SEC v. Michael Lauer, et al., Case No. 03-80612-CIV-
     MARRA/VITUNAC, S.D. Fla.]  (LR-19042)
     
SEC SETTLES MANIPUALTION CASE AGAINST PROMOTER OF IVES HEALTH COMPANY STOCK

     The Securities and Exchange Commission today announced that on Dec. 21,
     2004, the United States District Court for the Southern District of New
     York entered a final judgment enjoining James Kosta, an investor
     relations and financial consultant of Ives Health Company, for his
     participation in a scheme to manipulate the common stock of Ives Health.
     The judgment also requires Kosta to pay $50,000 and bars him from
     participating in a penny stock offering.

     The Commissions complaint, filed in July 2001, alleged that Kosta
     violated the registration and antifraud provisions of the securities
     laws, by, among other things, unlawfully obtaining unrestricted shares
     of Ives Health through an employee of a company he controlled, touting
     the stock on an Internet bulletin board without disclosing that he was
     otherwise compensated by the company, and then dumping his shares while
     recommending others to buy or hold their stock.  Kosta profited by
     approximately $430,000 from his stock sales before the Commission
     suspended trading in Ives Health stock on March 5, 2001.

     The final judgment in the Commissions action, to which Kosta consented,
     permanently enjoins him from violating the registration and antifraud
     provisions of the securities laws, orders him to pay disgorgement of
     $427,468, the proceeds from his sale of Ives Health stock, plus
     prejudgment interest in the amount of $91,750.  The judgment waives
     payment of all but $50,000 based on Kostas inability to pay.  The
     judgment further bars Kosta from participating in any offering of a
     penny stock for three years.

     Previously, Keith Ives, the founder and former president of Ives Health,
     consented to be enjoined from violating the registration, reporting, and
     antifraud provisions of the securities laws, and permanently barred from
     acting as an officer or director of a public company.  In a parallel
     criminal action, Ives pled guilty and was sentenced to 51 months in
     prison and three years of supervised release.  In addition, Ives was
     ordered to pay restitution of $1,253,455 (U.S. v. M. Keith Ives, and
     Ives Health Co., 01 Cr. 691, S.D.N.Y., RCC).  Michael Harrison, an
     officer of Ives Health named in the action, also consented to be
     enjoined from violating the registration, reporting and antifraud
     provisions of the securities laws.  Harrison also was ordered to pay
     disgorgement of $8,720, representing the proceeds from his sales of Ives
     Health securities, plus prejudgment interest of $727.96.   In addition,
     a default judgment was entered against Ives Health enjoining the company
     from violating the registration, reporting and antifraud provisions of
     the securities laws.  [SEC v. Ives Health Co. Inc., M. Keith Ives,
     Michael Harrison and James Kosta, Civil Action No. 01-CV-6999, SDNY,
     GEL]  (LR-19043)
     
FEDERAL COURT ISSUES JUDGMENT IN MANGANESE MINE STOCK FRAUD CASE

     On Dec. 1, 2004, the Honorable Mary M. Lisi of the United States
     District Court for the District of Rhode Island entered a Final Judgment
     of Permanent Injunction and Other Relief against Donald E. McCourt.  The
     final judgment, entered by consent, enjoins McCourt from violating
     Section 17(a) of the Securities Act of 1933, Section 10(b) of the
     Securities Exchange Act of 1934 and Rule 10b-5 thereunder.  In addition,
     the final judgment requires McCourt to pay $9,430 in disgorgement,
     $5,272 in prejudgment interest and a $25,000 civil penalty.

     On July 30, 2001, the Commission filed a complaint alleging that,
     between January 1997 and March 2000, McCourt, along with William E.
     Kraemer, George T. Helm, Jr. and Robin L. Sampson, engaged in a $240,000
     fraudulent offering scheme.  According to the Commissions complaint,
     Kraemer, McCourt, Helm and Sampson defrauded 14 investors out of
     approximately $240,000 by inducing them to invest in Prexomet Corp., a
     now defunct Smithfield, Rhode Island-based corporation.  The complaint
     alleged that, beginning in January 1997, the defendants told prospective
     investors that Prexomet owned a valuable Arizona manganese mine and
     offered them an opportunity to purchase Prexomet stock at $1 per share.
     The complaint further alleged that the defendants also told the
     investors that Prexomet would soon go public through an initial public
     offering and that they would earn a 400% return on their investments
     within several months.  According to the complaint, these statements
     were false because neither Prexomet, nor any of the defendants, ever
     owned a mine and none of the defendants ever took any step to conduct an
     IPO or expended any funds for that purpose.  Instead, the complaint
     asserted, the defendants diverted most of the funds they raised for
     their personal benefit.  The Commission further alleged that, once some
     of the investors began raising questions about their investments, the
     defendants began making false lulling statements, from as early as
     April 1997 and continuing through at least March 2000, about how the
     investors would soon receive their promised 400% returns.  According to
     the complaint, none of the investors ever received back any portion of
     the funds raised by the defendants.

     The Commissions case against defendant Kraemer was resolved through the
     September 18, 2002 entry of a default judgment that enjoined him from
     violating Section 17(a) of the Securities Act of 1933, Section 10(b) of
     the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and that
     required him to pay $192,163 in disgorgement, $87,082 in prejudgment
     interest and a $192,163 civil penalty.  In a related administrative
     proceeding, on April 10, 2003, ALJ Brenda P. Murray issued an order, by
     default, barring Kraemer from participating in any offering of penny
     stock.

     The Commissions case against defendant Helm was resolved through the
     Aug. 1, 2001, entry of a judgment, by consent, that enjoined him from
     violating Section 17(a) of the Securities Act of 1933, Section 10(b) of
     the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and that
     required him to pay a $20,000 civil penalty.  In a related
     administrative proceeding, on September 28, 2001, the Commission issued
     an order, by consent, barring Helm from participation in any offering of
     penny stock and barring him from association with any broker or dealer
     with the right to reapply for association after three years.

     The Commissions case against defendant Sampson is proceeding.  [SEC v.
     Kraemer, et al., Civil Action No. 01-358-ML, D. Rhode Island]  (LR-
     19044)
     
MARK J. LAUZON ENJOINED FROM ENGAGING IN INSIDER TRADING
  
     The Securities and Exchange Commission announced that on January 3 Judge
     William G. Bassler entered a final judgment against defendant Mark J.
     Lauzon, enjoining him from further violations of Sections 10(b) and
     14(e) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14e-3
     thereunder.  The judgment also ordered Lauzon to disgorge $1,969 plus
     $338 in prejudgment interest, and to pay a $1,969 civil penalty.  Lauzon
     consented to the entry of the judgment without admitting or denying the
     allegations in the Commissions complaint.
     
     The complaint, filed on April 22, 2004, charged Lauzon with engaging in
     insider trading in the securities of Musicland Stores Corporation before
     Musiclands Dec. 7, 2000, announcement that it would be acquired by
     another company by tender offer.  The Commissions complaint alleges
     that Alfred S. Teo, Sr., a major Musicland shareholder, learned about
     the proposed tender offer for Musicland, and then tipped Lauzon and
     others with this information.  According to the Commissions complaint,
     approximately two hours after Teo tipped Lauzon on Nov. 9, 2000, Lauzon
     purchased 500 shares of Musicland stock, which he sold on Dec. 11, 2000,
     and received $1,969 in illicit profits.
     
     The Commission continues to prosecute the litigation against the
     remaining defendants.  See LR-18673, April 22, 2004.  [SEC v. Alfred S.
     Teo, Sr., et al., Civil Action No. CV 04-1815, WGB]  (LR-19045)
     
J.M. DUTTON & ASSOCIATES CONSENTS TO JUDGMENT IMPOSING $25,000 PENALTY FOR
VIOLATIONS OF DISCLOSURE REQUIREMENTS OF SECURITIES ACT SECTION 17(B)

     The Commission filed on January 19, 2005 a civil action against J.M.
     Dutton & Associates alleging violations of Section 17(b) of the
     Securities Act of 1933.  The California company provides paid-for stock
     research reports that it publishes on its website.  The Commission
     alleges that the company published stock research reports without fully
     disclosing that it received compensation from the issuers who were the
     subjects of the reports.  The company, without admitting or denying the
     allegations, has consented to issuance of a final judgment imposing a
     $25,000 civil penalty.  [SEC v. J.M. Dutton & Associates, LLC, 2:05 CV
     106, E.D. Calif.]  (LR-19046)

HOLDING COMPANY ACT RELEASES
     

SOUTHWESTERN ELECTRIC POWER COMPANY ET AL.
     
     An  order  has  been issued approving a proposal by Dolet Hills  Lignite
     Company,  LLC, a wholly-owned subsidiary of Southwestern Electric  Power
     Company  (SWEPCO),  an  indirect public utility subsidiary  of  American
     Electric  Power  Company,  Inc.,  a registered  public  utility  holding
     company under the Act, to pay dividends to SWEPCO in an amount up to the
     full amount of its capital surplus on its common stock.  (Rel. 35-27939)
     
CINERGY CORP., ET AL.

     A  notice  has been issued giving interested persons until February  15,
     2005  to  request a hearing on a proposal by Cinergy Corp., a registered
     holding  company,  and  its  subsidiary The Cincinnati  Gas  &  Electric
     Company,  an exempt public utility holding company ("CG&E") under  which
     CG&E  would transfer to its subsidiary, The Union Light, Heat and  Power
     Company   ("ULH&P"),  CG&Es  ownership  interest  in   three   electric
     generating  facilities.   The  generating  stations  are:    East   Bend
     Generating  Station;  the  Miami Fort Unit 6; and  Woodsdale  Generating
     Station.   CG&E  will  transfer  the Plants  at  a  net  book  value  of
     approximately $374 million, plus transaction costs.  (Rel. 35-27940)

SELF REGULATORY ORGANIZATIONS
     

IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGE

     The Commission issued notice of filing and immediate effectiveness of a
     proposed rule change (SR-CBOE-2005-05) filed by the Chicago Board
     Options Exchange under Rule 19b-4 of the Securities Exchange Act of 1934
     amending its marketing fee.  Publication of the proposal is expected in
     the Federal Register during the week of January 24.  (Rel. 34-51052)

ACCELERATED APPROVAL OF PROPOSED RULE CHANGES

     The Commission noticed and granted accelerated approval to a proposed
     rule change and Amendment No. 1 thereto (SR-Amex-2004-99) filed by the
     American Stock Exchange under Rule 19b-4 of the Securities Exchange Act
     of 1934 to list and trade Contingent Principal Protected Notes Linked to
     the Performance of the Russell 2000 Index.  Publication is expected in
     the Federal Register during the week of January 24.  (Rel. 34-51055)
     
     The Commission approved a proposed rule change, including Amendment Nos.
     2, 3 and 4, and granted accelerated approval of Amendment No. 5 (SR-Amex-
     2004-38), submitted by the American Stock Exchange pursuant to Rule 19b-
     4 under the Securities Exchange Act of 1934 to list and trade under new
     Amex Rules 1200A et seq. iShares COMEX Gold Trust Shares.  Publication
     of the proposal in the Federal Register is expected during the week of
     January 24.  (Rel. 34-51058)
     
PROPOSED RULE CHANGE

     A proposed rule change (SR-NYSE-2005-07) has been filed by the New York
     Stock Exchange relating to proposed changes to Exchange Rules 440F
     (Public Short Sale Transactions Effected on the Exchange) and 440G
     (Transactions in Stocks and Warrants for the Accounts of Members,
     Allied Members and Member Organizations).  Publication of the proposed
     rule change is expected in the Federal Register during the week of
     January 24.  (Rel. 34-51054)
     
APPROVAL OF PROPOSED RULE CHANGES

     The Commission, pursuant to Rule 19b-4 under the Securities Exchange Act
     of 1934, has approved a proposed rule change (SR-BSE-2004-52) and
     Amendment No. 1 thereto submitted by the Boston Stock Exchange, Inc.
     relating to market maker quote obligations under the rules of the Boston
     Options Exchange Facility.  Publication of the proposal is expected in
     the Federal Register during the week of January 24.  (Rel. 34-51049)
     
     The Commission, pursuant to Rule 19b-4 under the Securities Exchange Act
     of 1934, has approved a proposed rule change (SR-ISE-2004-31) and
     Amendment No. 1 thereto submitted by the International Securities
     Exchange to amend ISE Rule 804 to codify descriptions of certain
     functionality it provides to market makers to assist them in meeting
     their quotation obligations.  Publication of the proposal is expected in
     the Federal Register during the week of January 24.  (Rel. 34-51050)
     

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-6     pSivida LTD, LEVEL 12 BGC CENTRE, 28 THE ESPLANADE, PERTH, C3, 6000,
        61 8 9226 5099 - 1,000,000 ($5,000,000.00) ADRs/ADSs,
        (File 333-122158 - Jan. 20) (BR. )

F-1     GRAVITY Co., Ltd., SHINGU BUILDING, 620-2 SHINSA-DONG, GANGNAM-GU,
        SEOUL, M5, 135-894, 822-516-5438 -
        2,673,750 ($165,772,500.00) ADRs/ADSs, (File 333-122159 - Jan. 20)
        (BR. 03)

F-6     GRAVITY Co., Ltd., SHINGU BUILDING, 620-2 SHINSA-DONG, GANGNAM-GU,
        SEOUL, M5, 135-894, 822-516-5438 -
        50,000,000 ($2,500,000.00) ADRs/ADSs, (File 333-122160 - Jan. 20)
        (BR. 03)

F-6     AUSTAL LTD, 100 CLARENCE BEACH RD, HENDERSON 6166, C3, 00000,
        10,000,000 ($500,000.00) ADRs/ADSs, (File 333-122161 - Jan. 20) (BR.)

SB-2    GAMEZNFLIX INC, 2240 SHELTER ISLAND DRIVE #202, SAN DIEGO, CA, 92106,
        6192263536 - 0 ($25,768,536.59) Equity, (File 333-122162 - Jan. 20)
        (BR. 05)

S-8     DTOMI INC, 200 9TH AVENUE, SUITE 220, SAFETY HARBOR, FL, 34965,
        (727) 723-8664 - 2,750,000 ($371,250.00) Equity, (File 333-122165 -
        Jan. 20) (BR. 08)

S-4     DIMON INC, 8047927511 - 0 ($259,436,250.00) Equity, (File 333-122166-
        Jan. 20) (BR. 04)

S-8     Cambridge Display Technology, Inc., 2020 CAMBOURNE BUSINESS PARK,
        CAMBOURNE, CAMBRIDGE, X0, CB3 6DW, 011 44 1954 713600 -
        1,589,752 ($24,560,440.00) Equity, (File 333-122167 - Jan. 20) (BR.36)

S-8     KINDER MORGAN ENERGY PARTNERS L P, 370 VAN GORDON STREET, LAKEWOOD,CO,
        80228, 3039144752 - 100,000 ($4,526,000.00) Equity, (File 333-122168-
        Jan. 20) (BR. 02)

S-8     VAIL BANKS INC, 108 SO FRONTAGE RD WEST, SUITE 101, VAIL, CO, 81657,
        9704762002 - 250,000 ($3,250,000.00) Equity, (File 333-122170 -
        Jan. 20) (BR. 07)

S-8     SI INTERNATIONAL INC, 12012 SUNSET HILLS ROAD, SUITE 800, RESTON, VA,
        20190-5869, 7032347000 - 0 ($9,142,400.00) Equity, (File 333-122171 -
        Jan. 20) (BR. 03)

S-8     FOREST CITY ENTERPRISES INC, 1100 TERMINAL TOWER, 50 PUBLIC SQ,
        CLEVELAND, OH, 44113, 216-621-6060 -
        2,500,000 ($145,950,000.00) Equity, (File 333-122172 - Jan. 20) (BR.08)

SB-2    CIROND CORP, 4185 STILL CREEK DRIVE, SUITE B-101, BURNABY, A1, V5C6G9,
        6042055039 - 28,567,564 ($8,427,431.00) Equity, (File 333-122173 -
        Jan. 20) (BR. 08)

S-4     ADVANCED MICRO DEVICES INC, ONE AMD PL, MS 68, SUNNYVALE, CA,
        94088-3453, 4087322400 - 0 ($600,000,000.00) Non-Convertible Debt,
        (File 333-122174 - Jan. 20) (BR. 36)

S-4     HOVNANIAN ENTERPRISES INC, 10 HWY 35, PO BOX 500, RED BANK, NJ,07701,
        7327477800 - 0 ($300,000,000.00) Other, (File 333-122175 - Jan. 20)
        (BR. 06)

S-3     ONYX PHARMACEUTICALS INC, 2100 POWELL STREET, EMERYVILLE, CA, 94608,
        5105976500 - 0 ($250,000,000.00) Other, (File 333-122176 - Jan. 20)
        (BR. 01)

SB-2    INTRAC INC, 26 SCHERMERORN STREET, BROOKLYN, NY, 11201, 7188527856 -
        15,599,965 ($59,279,867.00) Equity, (File 333-122177 - Jan. 20) (BR.09)

S-4     WINTRUST FINANCIAL CORP, 727 N BANK LANE, LAKE FOREST, IL, 60045,
        8476154096 - 605,000 ($4,682,700.00) Equity, (File 333-122178 -
        Jan. 20) (BR. 07)

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
21ST CENTURY HOLDING CO                 FL       8.01                           01/13/05

ACE CASH EXPRESS INC/TX                 TX       2.02,9.01                      01/20/05

ACTIVISION INC /NY                      DE       7.01,9.01                      12/20/04

AdAl Group Inc.                         DE       5.02                           01/18/05

ADVANCED OPTICS ELECTRONICS INC         NV       4.01,9.01                      01/13/05

ADVANCED TECHNOLOGY INDUSTRIES INC      DE       8.01                           01/20/05

ADVANTA BUSINESS RECEIVABLES CORP                8.01,9.01                      01/20/05

ADVO INC                                DE       2.02,9.01                      01/20/05

AFFILIATED COMPUTER SERVICES INC        DE       2.02,9.01                      01/20/05

AGILENT TECHNOLOGIES INC                DE       5.02,9.01                      01/19/05

AIRGAS INC                              DE       1.01,1.02,2.03,9.01            01/14/05

AIRGAS INC                              DE       1.01,1.02,5.02,9.01            01/13/05

AIRNET SYSTEMS INC                      OH       1.01,1.02,9.01                 01/20/05

AJS BANCORP INC                         DE       2.02,9.01                      01/19/05

AKESIS PHARMACEUTICALS, INC.            NV       8.01,9.01                      01/20/05

ALBEMARLE CORP                          VA       1.01,8.01,9.01                 01/13/05

ALEXION PHARMACEUTICALS INC             DE       3.02,8.01,9.01                 01/19/05

ALLIANCE LAUNDRY SYSTEMS LLC                     8.01,9.01                      01/19/05

ALLIED RESOURCES INC                    NV       5.02                           01/17/05

ALLOS THERAPEUTICS INC                  DE       8.01,9.01                      01/20/05

ALR TECHNOLOGIES INC                    NV       5.03,9.01                      01/19/05

AMERICAN MEDICAL ALERT CORP             NY       8.01,9.01                      01/20/05

AMERICAN SCIENCE & ENGINEERING INC      MA       1.01,9.01                      01/19/05

AMERICAN SOFTWARE INC                   GA       9.01                           09/30/04    AMEND

ANTS SOFTWARE INC                       DE       8.01,9.01                      01/20/05

APPLIED FILMS CORP                      CO       2.02,8.01,9.01                 01/20/05

ARAMARK CORP/DE                         DE       7.01                           01/18/05

ARBIOS SYSTEMS INC                      NV       5.02                           01/15/05

ARCTIC CAT INC                          MN       2.02,9.01                      01/20/05

ARGOSY GAMING CO                        DE       8.01,9.01                      01/20/05

ARLINGTON HOSPITALITY INC               DE       3.02,8.01,9.01                 01/13/05

ARTISTDIRECT INC                        DE       5.02                           01/18/05

ASBURY AUTOMOTIVE GROUP INC             DE       7.01,9.01                      01/20/05

ASHFORD HOSPITALITY TRUST INC           MD       8.01,9.01                      01/13/05

ASHFORD HOSPITALITY TRUST INC           MD       7.01,9.01                      01/20/05

ASTORIA FINANCIAL CORP                  DE       2.02,8.01,9.01                 01/20/05

ASTRONICS CORP                          NY       3.01,5.02,9.01                 01/20/05

AUSTRALIAN CANADIAN OIL ROYALTIES LTD   A1       8.01                           01/19/05

AVERY DENNISON CORPORATION              DE       2.05                           01/17/05

AVI BIOPHARMA INC                       OR       1.01,7.01,8.01,9.01            01/19/05

AVI BIOPHARMA INC                       OR       8.01,9.01                      01/18/05

AVOCENT CORP                            DE       2.02,9.01                      01/20/05

BANC ONE HELOC 1999-1                   OH       8.01,9.01                      01/20/05

BANC ONE HELOC TRUST 1998-1             OH       8.01,9.01                      01/20/05

BANDAG INC                              IA       8.01                           01/19/05

BANK OF SOUTH CAROLINA CORP             SC       2.02,9.01                      01/20/05

BANK ONE AUTO SECURITIZATION TRUST 20   DE       8.01,9.01                      01/20/05

BANKNORTH GROUP INC/ME                  ME       2.02,9.01                      01/19/05

BEARD CO /OK                            OK       7.01,9.01                      01/19/05

BEBE STORES INC                         CA       2.02,9.01                      01/01/05

BellaVista Funding CORP                 DE       9.01                           01/19/05

BIOFIELD CORP \DE\                      DE       8.01                           12/31/04

BIOMODA INC/NM                                   4.01,9.01                      01/13/05

BRAINSTORM CELL THERAPEUTICS INC                 5.02,9.01                      01/16/05

BROOKE CORP                             KS       8.01,9.01                      01/20/05

CABOT CORP                              DE       5.02                           01/14/05

CALIFORNIA MICRO DEVICES CORP           CA       2.02,9.01                      01/20/05

CALLAWAY GOLF CO /CA                    DE       2.02,9.01                      01/20/05

CAMDEN PROPERTY TRUST                   TX       1.01,2.03,9.01                 01/19/05

CANCERVAX CORP                          DE       1.01,9.01                      01/18/05

CARDINAL FINANCIAL CORP                 VA       2.02,4.02                      01/19/05

CARRIAGE SERVICES INC                   DE       7.01,9.01                      01/20/05

CAVCO INDUSTRIES INC                    DE       2.02,9.01                      01/20/05

CENTRAL VIRGINIA BANKSHARES INC         VA       8.01                           08/14/98

CGI HOLDING CORP                        NV       1.01,2.01,9.01                 01/14/05

CHARLOTTE RUSSE HOLDING INC                      2.02,9.01                      01/20/05

CHATTEM INC                             TN       2.02,9.01                      01/20/05

CHEC FUNDING LLC                        DE       8.01,9.01                      01/20/05

CHESAPEAKE ENERGY CORP                  OK       5.03                           01/13/05

CHESTER VALLEY BANCORP INC              PA       8.01,9.01                      01/20/05

CHINA ENERGY & CARBON BLACK HOLDINGS,   NV       1.01,9.01                      01/14/05

CHITTENDEN CORP /VT/                    VT       2.02,9.01                      01/20/05

CISCO SYSTEMS INC                       CA       5.02                           01/19/05

CIT EQUIPMENT COLLATERAL 2004-VT1       DE       8.01,9.01                      01/20/05

CITIGROUP GLOBAL MARKETS HOLDINGS INC   NY       9.01                           12/31/04

CITIGROUP INC                           DE       2.02,7.01,9.01                 01/20/05

CITIZENS BANKING CORP                   MI       2.02,9.01                      01/20/05

CITY HOLDING CO                         WV       1.01,9.01                      01/19/05

CLAIBORNE LIZ INC                       DE       1.01                           01/15/05

CLARION TECHNOLOGIES INC/DE/            DE       1.01,9.01                      01/19/05

CMS ENERGY CORP                         MI       8.01,9.01                      01/16/05

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

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

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

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

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

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

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

CNS INC /DE/                            DE       2.02,8.01,9.01                 01/19/05

COINSTAR INC                            DE       1.01,9.01                      01/13/05

COLLAGENEX PHARMACEUTICALS INC          DE       8.01,9.01                      01/19/05

COLONIAL COMMERCIAL CORP                NY       1.01,5.02,9.01                 01/18/05

COMERICA INC /NEW/                      DE       2.02,7.01,9.01                 01/20/05

COMPASS BANCSHARES INC                  DE       2.02,9.01                      01/20/05

CONNS INC                               DE       8.01                           01/13/05

CONTINENTAL AIRLINES INC /DE/           DE       2.02,7.01,9.01                 01/20/05

Cord Blood America, Inc.                FL       1.01,2.03,9.01                 01/17/05

Cord Blood America, Inc.                FL       8.01                           01/18/05

COTHERIX INC                                     1.01                           01/20/05

COURIER CORP                            MA       2.02,9.01                      01/20/05

CRDENTIA CORP                           DE       4.01,9.01                      01/13/05

CREATIVE BAKERIES INC                   NY       5.02                           01/13/05

CREDIT SUISSE FIRST BOSTON MORTGAGE S   DE       8.01,9.01                      01/20/05

CRESCENT FINANCIAL CORP                 NC       2.02,9.01                      01/19/05

CROSSROADS SYSTEMS INC                  DE       5.02                           01/14/05

CROWN ENERGY CORP                       UT       2.01,9.01                      12/22/04

CT COMMUNICATIONS INC /NC               NC       1.01,8.01,9.01                 01/20/05

CURAGEN CORP                            DE       1.01,9.01                      11/17/04

D&E COMMUNICATIONS INC                  PA       7.01,9.01                      01/19/05

DAYSTAR TECHNOLOGIES INC                DE       5.02,9.01                      01/13/05

DCB FINANCIAL CORP                      OH       2.02,9.01                      01/20/05

DEARBORN BANCORP INC /MI/               MI       2.02,9.01                      01/18/05

DEL MONTE FOODS CO                      DE       7.01                           01/20/05

DELPHI CORP                             DE       2.02,2.05,2.06,8.01,9.01       01/20/05

DELPHI CORP                             DE       2.02,2.05,2.06,8.01,9.01       01/20/05    AMEND

DELTA AIR LINES INC /DE/                DE       2.02,7.01,9.01                 01/20/05

DELTA AIR LINES INC /DE/                DE       2.05                           09/08/04    AMEND

DELTIC TIMBER CORP                      DE       8.01                           01/19/05

DIGITAL POWER CORP                      CA       5.02                           01/13/05

DIGITAL RIVER INC /DE                   DE       1.01,5.02,9.01                 01/18/05

DIONEX CORP /DE                         CA       2.02,9.01                      01/20/05

DIRECT RESPONSE FINANCIAL SERVICES  I   CO       1.01,9.01                      09/29/04

DORCHESTER MINERALS LP                  DE       2.02,7.01,9.01                 12/31/04

DOW JONES & CO INC                      DE       5.02,9.01                      01/19/05

DUPONT PHOTOMASKS INC                   DE       8.01                           01/20/05

DVI RECEIVABLES CORP VIII DVI RECEIVA   DE       8.01,9.01                      01/13/05

DVI RECEIVABLES CORP VIII DVI RECEIVA   DE       8.01,9.01                      01/14/05

DVI RECEIVABLES CORP VIII DVI RECEIVA   DE       8.01,9.01                      01/12/05

DVI RECEIVABLES CORP VIII DVI RECEIVA   DE       8.01,9.01                      01/11/05

DVI RECEIVABLES CORP VIII DVI RECEIVA   DE       8.01,9.01                      01/11/05

DVI RECEIVABLES CORP VIII DVI RECEIVA   DE       8.01,9.01                      01/11/05

DVI RECEIVABLES VIII LLC                DE       8.01,9.01                      01/13/05

DVI RECEIVABLES XIX LLC                 DE       8.01,9.01                      01/12/05

DVI RECEIVABLES XVIII LLC               DE       8.01,9.01                      01/12/05

DYADIC INTERNATIONAL INC                         9.01                           10/29/04    AMEND

EAGLE BANCORP INC                       MD       8.01,9.01                      01/19/05

EAGLE BANCORP INC                       MD       2.02,7.01,9.01                 01/19/05

EAGLE BANCORP/MT                                 2.02,8.01                      01/20/05

EASYLINK SERVICES CORP                  DE       1.01,9.01                      01/14/05

ECHELON CORP                            DE       2.02                           01/17/05

EMULEX CORP /DE/                        DE       2.02,9.01                      01/20/05

ENTEGRIS INC                            MN       5.02,9.01                      01/18/05

ENZON PHARMACEUTICALS  INC              DE       8.01,9.01                      01/19/05

EVERGREENBANCORP INC                    WA       1.01,2.03                      01/17/05

EYE CARE CENTERS OF AMERICA INC         TX       1.01,9.01                      01/14/05

EZCORP INC                              DE       2.02,9.01                      01/20/05

FERRO CORP                              OH       7.01                           01/18/05

FIBERMARK INC                           DE       2.01                           01/17/05

FIBERMARK INC                           DE       2.01                           01/19/05

FIDELITY D & D BANCORP INC              PA       2.02,9.01                      01/19/05

FIFTH THIRD AUTO TRUST 2004-A                    8.01,9.01                      01/20/05

FIRST COMMUNITY CORP /SC/               SC       2.02,9.01                      01/19/05

FIRST FEDERAL BANCSHARES INC /DE        DE       8.01,9.01                      01/19/05

FIRST FINANCIAL BANKSHARES INC          TX       2.02                           01/19/05

FIRST FINANCIAL HOLDINGS INC /DE/       DE       2.02,9.01                      12/31/04

FIRST INDIANA CORP                      IN       2.02,9.01                      01/19/05

FIRST M&F CORP/MS                       MS       2.02,9.01                      01/19/05

FIRST OF LONG ISLAND CORP               NY       1.01,9.01                      01/18/05

FIRST RELIANCE BANCSHARES INC           SC       2.02,9.01                      01/18/05

FIRST VIRTUAL COMMUNICATIONS INC        DE       1.03                           01/20/05

FIRSTBANK CORP                          MI       2.02,9.01                      01/20/05

FIRSTMERIT CORP /OH/                    OH       2.02,9.01                      01/20/05

FLANDERS CORP                           NC       8.01                           01/20/05

FLEET HOME EQUITY LOAN LLC              DE       9.01                           01/20/04

FNB CORP/FL/                            FL       2.02,9.01                      01/20/05

FOOTSTAR INC                            DE       5.02,9.01                      01/13/05

FORD MOTOR CO                           DE       2.02,9.01                      01/20/05

FORD MOTOR CREDIT CO                    DE       2.02,9.01                      01/20/05

FOREST CITY ENTERPRISES INC             OH       8.01                           01/19/05

FOREST CITY ENTERPRISES INC             OH       1.01                           01/20/05

FORGENT NETWORKS  INC                   DE       1.01                           01/13/05

FORWARD INDUSTRIES INC                  NY       2.02,9.01                      01/20/05

Franklin Auto Trust 2004-2              DE       8.01,9.01                      01/15/05

FRANKLIN STREET PROPERTIES CORP /MA/             8.01                           01/19/05

FTD INC                                 DE       2.02,9.01                      01/18/05

FUELCELL ENERGY INC                     DE       3.02                           01/14/05

FULL HOUSE RESORTS INC                  DE       5.02                           01/20/05

FX ENERGY INC                           NV       8.01,9.01                      01/20/05

GALTECH SEMICONDUCTOR MATERIALS CO      UT       8.01                           01/14/05

GATEWAY FINANCIAL HOLDINGS INC          NC       8.01,9.01                      01/20/05

GENERAL COMPONENTS, INC.                NV       5.01,5.02,9.01                 09/24/04    AMEND

GEORGIA POWER CO                        GA       8.01,9.01                      01/13/05

GOLDEN WEST FINANCIAL CORP /DE/         DE       7.01                           01/20/05

GOLDTECH MINING CORP                    DE       5.02,8.01                      01/14/05

GOODRICH CORP                           NY       2.02,2.06                      01/13/05

GRAMERCY CAPITAL CORP                   MD       2.02,7.01,9.01                 01/19/05

GREENVILLE FIRST BANCSHARES INC         SC       2.02,9.01                      01/20/05

GREENWICH CAPITAL COMMERCIAL FUNDING             8.01,9.01                      01/18/05

GREG MANNING AUCTIONS INC               NY       8.01                           01/10/05

GSR Mortgage Loan Trust 2004-15F        DE       8.01,9.01                      12/27/04

GTREX INC                               DE       5.02                           01/04/05

HANOVER COMPRESSOR CO /                 DE       5.05,9.01                      01/13/05

HARLEY DAVIDSON MOTORCYCLE TRUST 2004   NV       8.01,9.01                      01/18/05

Harley-Davidson Motorcycle Trust 2004   NV       8.01,9.01                      01/18/05

Harley-Davidson Motorcycle Trust 2004   NV       8.01,9.01                      01/18/05

HARMONIC INC                            DE       2.02,9.01                      01/20/05

HARRAHS ENTERTAINMENT INC               DE       8.01,9.01                      01/19/05

HARTCOURT COMPANIES INC                 UT       4.01,9.01                      12/29/04    AMEND

HEADWATERS INC                          DE       2.02,7.01,9.01                 01/20/05

HEALTHCARE SERVICES GROUP INC           PA       8.01                           01/19/05

HEALTHGATE DATA CORP                    DE       1.01,9.01                      01/18/05

HEALTHTRONICS, INC.                     GA       9.01                           11/10/04    AMEND

HENRY JACK & ASSOCIATES INC             DE       2.02,9.01                      01/19/05

HERCULES INC                            DE       8.01,9.01                      01/17/05

HOLLY ENERGY PARTNERS LP                DE       5.02                           01/14/05

HOME LOAN FINANCIAL CORP                OH       2.02,9.01                      01/19/05

HOMENET CORP                            DE       1.01,9.01                      01/13/05

HORTON D R INC /DE/                     DE       2.02,9.01                      01/20/05

HOST AMERICA CORP                       DE       7.01,9.01                      01/20/05

HUBBELL INC                             CT       2.02                           01/20/05

HUTCHINSON TECHNOLOGY INC               MN       2.02,9.01                      01/20/05

IBERIABANK CORP                         LA       2.02,7.01,9.01                 01/19/05

ID-CONFIRM, INC.                        NV       7.01                           01/11/05

IDAHO GENERAL MINES INC                 ID       4.01,9.01                      01/13/05

IDEX CORP /DE/                          DE       2.02,9.01                      01/20/05

IDI GLOBAL INC                          NV       1.01                           01/14/05

II-VI INC                               PA       2.02,9.01                      12/31/04

INFONET SERVICES CORP                            5.02                           01/18/05

INNOVATIVE SOLUTIONS & SUPPORT INC      PA       2.02                           01/19/05

INTERCHANGE FINANCIAL SERVICES CORP /   NJ       2.02,9.01                      01/19/05

INTERMET CORP                           GA       1.01,9.01                      01/14/05

INTERMET CORP                           GA       7.01,9.01                      01/20/05

INTERNATIONAL GAME TECHNOLOGY           NV       2.02                           01/20/05

Intrepid Holdings, Inc.                 NV       5.01,5.02                      01/20/05

ISCO INTERNATIONAL INC                  DE       8.01,9.01                      01/20/05

IVP TECHNOLOGY CORP                     NV       5.02,8.01,9.01                 01/17/05

J&J SNACK FOODS CORP                    NJ       2.02,9.01                      01/20/05

JAFRA WORLDWIDE HOLDINGS LUX SARL       N4       8.01,9.01                      01/18/05

JONES FINANCIAL COMPANIES LP LLP        MO       5.02                           01/20/05

JONES LANG LASALLE INC                  MD       8.01,9.01                      01/20/05

KANSAS GAS & ELECTRIC CO /KS/                    8.01,9.01                      01/18/05

KENSEY NASH CORP                        DE       2.02                           12/31/04

KLA TENCOR CORP                         DE       2.02,9.01                      01/20/05

KNIGHT TRADING GROUP INC                DE       2.02,5.03,7.01,9.01            01/19/05

KNIGHT TRANSPORTATION INC               AZ       2.02,9.01                      01/19/05

Knockout Holdings, Inc.                 DE       1.01,3.02,9.01                 01/17/05

LABONE INC/                             MO       1.01                           01/14/05

LAKELAND BANCORP INC                    NJ       2.02,9.01                      01/20/05

LAM RESEARCH CORP                       DE       2.02,9.01                      01/20/05

Lazy Days R.V. Center, Inc.                      2.02,9.01                      01/19/05

LEADING EDGE EARTH PRODUCTS INC                  4.01                           08/30/02    AMEND

LEE ENTERPRISES INC                     DE       2.02                           01/19/05

LEXMARK INTERNATIONAL INC /KY/          DE       1.01,1.02,2.03,9.01            01/20/05

LINCOLN NATIONAL CORP                   IN       1.01,9.01                      01/13/05

LOCKHEED MARTIN CORP                    MD       1.01,8.01,9.01                 01/17/05

LOGILITY INC                            GA       9.01                           09/30/04    AMEND

LOJACK CORP                             MA       5.02,9.01                      01/12/05    AMEND

LOUD TECHNOLOGIES INC                   WA       2.02,9.01                      01/20/05

LUMENIS LTD                                      1.01,9.01                      01/20/05

MACROMEDIA INC                          DE       2.02,7.01,9.01                 01/09/05

MAPINFO CORP                            DE       2.02,9.01                      12/31/04

MARGO CARIBE INC                        PR       1.01                           01/20/05

MARINEMAX INC                           DE       2.02,9.01                      01/20/05

MARKET CENTRAL INC                      DE       8.01,9.01                      01/19/05

MASSBANK CORP                           DE       7.01,9.01                      01/19/05

MASTR ASSET SECURITIZATION TRUST 2004   DE       8.01,9.01                      01/20/05

MBNA CORP                               MD       2.02,9.01                      12/31/04

MBNA CORP                               MD       8.01                           12/31/04

MBNA CORP                               MD       2.05                           01/20/05

MCMORAN EXPLORATION CO /DE/             DE       2.02,9.01                      01/20/05

MEDI HUT CO INC                         DE       1.01                           01/19/05

MEDXLINK CORP                           NV       2.01,3.02,5.01,5.02,5.03,9.01  01/14/05

MELLON FINANCIAL CORP                   PA       2.02,8.01,9.01                 01/18/05

MERCURY COMPUTER SYSTEMS INC            MA       2.02,9.01                      01/20/05

MERRILL LYNCH MORTGAGE INVESTORS INC    DE       8.01,9.01                      01/20/05

METALDYNE CORP                          DE       5.02,9.01                      01/13/05

METLIFE INC                             DE       7.01,9.01                      01/19/05

MGP INGREDIENTS INC                     KS       7.01,9.01                      01/20/05

MICROTUNE INC                           DE       1.01                           01/13/05

MINE SAFETY APPLIANCES CO               PA       7.01,9.01                      01/19/05

MODINE MANUFACTURING CO                 WI       2.02                           01/19/05

MONET ENTERTAINMENT GROUP LTD                    4.01,9.01                      01/17/05

MONITRONICS INTERNATIONAL INC           TX       1.01                           01/14/05

MONROE JAMES BANCORP INC                VA       2.02,9.01                      01/19/05

MORGAN STANLEY                          DE       9.01                           01/14/05

MORGAN STANLEY ABS CAPITAL I INC        DE       8.01,9.01                      01/18/05

MORGAN STANLEY DEAN WITTER CAPITAL I    DE       8.01,9.01                      12/01/04

MORTGAGE ASSET SECURITIZATION TRANSAC   DE       8.01,9.01                      01/20/05

MRO SOFTWARE INC                        MA       1.01,5.02                      01/14/05

MRO SOFTWARE INC                        MA       2.02,9.01                      01/20/05

MT ULTIMATE HEALTHCARE CORP             NV       2.01,5.01,8.01,9.01            08/08/03    AMEND

MULTI COLOR CORP                        OH       2.02,9.01                      01/20/05

NATHANIEL ENERGY CORP                   NV       1.01                           01/12/05

NAUTILUS GROUP INC                      WA       8.01,9.01                      01/14/05

NAVISTAR INTERNATIONAL CORP             DE       8.01                           01/20/05

NB&T FINANCIAL GROUP INC                OH       2.02,7.01,9.01                 01/20/05

NETBANK INC                             GA       7.01,9.01                      01/19/05

NETRATINGS INC                          DE       1.01,5.02,9.01                 01/20/05

NETWORK 1 SECURITY SOLUTIONS INC        DE       3.02,9.01                      01/13/05

NEW PLAN EXCEL REALTY TRUST INC         MD       8.01,9.01                      01/19/05

NEW RIVER PHARMACEUTICALS INC           VA       5.02,9.01                      01/17/05

NORTEL NETWORKS CORP                             5.02                           01/18/05

NORTEL NETWORKS LTD                              5.02                           01/18/05

NORTHFIELD LABORATORIES INC /DE/        DE       8.01,9.01                      01/19/05

NUTRA PHARMA CORP                       CA       5.02                           01/14/05

OCEAN RESOURCES INC                     DE       5.02                           01/18/05

OFFSHORE LOGISTICS INC                  DE       7.01,9.01                      01/20/05

Onstream Media CORP                     FL       8.01,9.01                      01/20/05

OPEN TEXT CORP                          K6       7.01                           01/20/05

OPUS COMMUNITIES, INC.                  TX       7.01,9.01                      01/19/05

OVERSEAS SHIPHOLDING GROUP INC          DE       2.01,9.01                      01/20/05

PACIFIC ENTERPRISES INC                 CA       8.01                           01/18/05

PACKAGING CORP OF AMERICA                        2.02,9.01                      01/19/05

PACKAGING CORP OF AMERICA                        8.01,9.01                      01/19/05

PAREXEL INTERNATIONAL CORP              MA       2.02,9.01                      01/20/05

PARKER HANNIFIN CORP                    OH       9.01                           01/18/05    AMEND

PARTNERS TRUST FINANCIAL GROUP INC               2.02                           01/20/05

PENFORD CORP                            WA       7.01,9.01                      01/18/05

PEOPLES BANCORP INC                     OH       2.02,9.01                      12/31/04

PEOPLES BANCORP OF NORTH CAROLINA INC   NC       2.02,9.01                      01/18/05

PeopleSupport, Inc.                     DE       1.01                           01/14/05

PERVASIVE SOFTWARE INC                  DE       2.02,9.01                      01/18/05

PivX Solutions, Inc.                    NV       4.01                           01/12/05

PLANTRONICS INC /CA/                    DE       5.02,9.01                      01/20/05

PLUM CREEK TIMBER CO INC                DE       1.01,9.01                      01/13/05

PLUMAS BANCORP                          CA       8.01,9.01                      01/20/04

PortalPlayer, Inc.                      CA       2.02,9.01                      01/20/05

PPG INDUSTRIES INC                      PA       2.02,9.01                      01/20/05

PPG INDUSTRIES INC                      PA       7.01,9.01                      01/20/05

PRIDE INTERNATIONAL INC                 DE       1.01,1.02,9.01                 01/13/05

PRINCIPAL LIFE INSURANCE CO             IA       9.01                           01/14/05

PRINCIPAL LIFE INSURANCE CO             IA       9.01                           01/14/05

PRINCIPAL LIFE INSURANCE CO             IA       9.01                           01/14/05

PRINTRONIX INC                          DE       8.01,9.01                      01/19/05

PROGRESSIVE CORP/OH/                    OH       2.02,9.01                      01/20/05

PROSPERITY BANCSHARES INC               TX       2.02,9.01                      01/20/05

PROTECTIVE LIFE INSURANCE CO            TN       9.01                           01/14/05

PROVIDENT FINANCIAL HOLDINGS INC        DE       2.02,9.01                      01/20/05

PROVIDIAN FINANCIAL CORP                DE       2.02,9.01                      01/20/05

QLT INC/BC                              A1       2.02,9.01                      01/20/05

RADIAN GROUP INC                        DE       2.02,9.01                      01/19/05

RAILAMERICA INC /DE                     DE       7.01,9.01                      01/20/05

RAMP Series 2004-RZ4 Trust              DE       8.01,9.01                      01/20/05

RAYMOND JAMES FINANCIAL INC             FL       7.01                           01/19/05

RAYMOND JAMES FINANCIAL INC             FL       7.01                           01/19/05

REDWOOD EMPIRE BANCORP                  CA       8.01,9.01                      01/18/05

REGAL BELOIT CORP                       WI       3.01                           01/20/05

REGAL BELOIT CORP                       WI       3.01                           01/20/05

Remote Dynamics Inc                     DE       7.01,9.01                      01/20/05

REPUBLIC AIRWAYS HOLDINGS INC           DE       1.01,9.01                      01/13/05

REPUBLIC BANCORP INC /KY/               KY       7.01,9.01                      01/20/05

REYNOLDS & REYNOLDS CO                  OH       2.02,9.01                      01/20/05

RIGEL PHARMACEUTICALS INC               DE       1.01,9.01                      01/18/05

RIVERVIEW BANCORP INC                   WA       2.06,9.01                      01/20/05

RLI CORP                                IL       2.02,9.01                      01/20/05

RUSH FINANCIAL TECHNOLOGIES INC         TX       7.01,9.01                      01/19/05

SAN DIEGO GAS & ELECTRIC CO             CA       8.01                           01/18/05

SANDY SPRING BANCORP INC                MD       2.02,7.01,9.01                 01/20/05

SCHEIB EARL INC                         DE       8.01                           01/13/05

SCOTIA PACIFIC CO LLC                   DE       7.01,9.01                      01/20/05

SEMPRA ENERGY                           CA       8.01                           01/18/05

SHERWIN WILLIAMS CO                     OH       2.02,9.01                      01/19/05

SIERRA PACIFIC RESOURCES /NV/           NV       8.01,9.01                      01/19/05

SILVER SCREEN STUDIOS INC               GA       5.02,8.01                      01/20/05

SIRVA INC                               DE       5.02                           01/18/05

SOLITARIO RESOURCES CORP                CO       1.01                           01/18/05

SOLITARIO RESOURCES CORP                CO       8.01                           01/18/05    AMEND

SONGZAI INTERNATIONAL HOLDING GROUP I   NV       9.01                           01/20/05

SOUTH DAKOTA SOYBEAN PROCESSORS LLC              4.01,9.01                      01/18/05

STANDARD MANAGEMENT CORP                IN       1.02,9.01                      01/19/05

STELLENT INC                            MN       2.02,9.01                      01/20/05

STRATS SM TRUST FOR DAIMLERCHRYSLER N            8.01,9.01                      01/15/05

STRATS SM TRUST FOR GOLDMAN SACHS GRO            8.01,9.01                      01/15/05

STRATS SM TRUST FOR JPMORGAN CHASE &             8.01,9.01                      01/15/05

STRATS(SM) TRUST FOR GEN ELEC CAP COR            8.01,9.01                      01/15/05

STUDENT LOAN CORP                       DE       2.02,9.01                      01/20/05

SUBURBAN PROPANE PARTNERS LP            DE       2.02,9.01                      01/20/05

SUN HYDRAULICS CORP                     FL       1.01,9.01                      01/17/05

SUNOCO INC                              PA       2.02,7.01,9.01                 01/20/05

SUNOCO LOGISTICS PARTNERS LP            DE       2.02,7.01,9.01                 01/20/05

SUNTRUST BANKS INC                      GA       2.02,7.01,9.01                 01/20/05

SWISS MEDICA INC                        DE       1.02,3.02,8.01,9.01            01/19/05

SYKES ENTERPRISES INC                   FL       2.05,2.06                      01/19/05

SYNAPTICS INC                           CA       2.02,9.01                      01/20/05

SYNOVUS FINANCIAL CORP                  GA       1.01,9.01                      01/19/05

TARGET RECEIVABLES CORP                 MN       8.01,9.01                      01/20/05

TELESTONE TECHNOLOGIES CORP             CO       4.01,9.01                      10/18/04    AMEND

TENGTU INTERNATIONAL CORP               DE       5.02                           01/14/05

TIME WARNER TELECOM INC                 DE       1.01,9.01                      01/20/05

TNX TELEVISION HOLDINGS INC             NV       5.02                           01/13/05
TOFUTTI BRANDS INC                      DE       4.01                           01/14/05

TOREADOR RESOURCES CORP                 DE       3.02                           01/19/05

TOTAL SYSTEM SERVICES INC               GA       1.01,9.01                      01/18/05

TOWER AUTOMOTIVE INC                    DE       8.01,9.01                      01/20/05

TRANSCAT INC                            OH       2.02,9.01                      01/18/05

TRANSCEND SERVICES INC                  DE       2.02,9.01                      01/20/05

TRIDENT MICROSYSTEMS INC                DE       2.02,9.01                      01/20/05

TRIDENT MICROSYSTEMS INC                DE       2.02,9.01                      01/20/05

UNIFI INC                               NY       2.02,9.01                      01/20/05

UNITEDHEALTH GROUP INC                  MN       2.02                           01/20/05

UNITEDHEALTH GROUP INC                  MN       2.02                           01/20/05    AMEND

UNIVERSAL STAINLESS & ALLOY PRODUCTS    DE       2.02                           01/20/05

US AIRWAYS GROUP INC                    DE       1.01,8.01,9.01                 01/13/05

US MEDSYS CORP                          CO       1.01,2.03,8.01,9.01            01/13/05

UTAH MEDICAL PRODUCTS INC               UT       2.02                           01/20/05

VAIL BANKS INC                          CO       2.02,9.01                      01/18/05

VALEANT PHARMACEUTICALS INTERNATIONAL   DE       7.01,9.01                      01/20/05

VALENCE TECHNOLOGY INC                  DE       1.01,9.01                      01/13/05

VERTIS INC                              DE       1.01                           11/17/04

VESTIN FUND III LLC                              9.01                           01/17/05

VIGNETTE CORP                           DE       2.02,9.01                      01/20/05

VIRAGE LOGIC CORP                       CA       2.02,9.01                      01/20/05

VOLKSWAGEN AUTO LEASE TRUST 2002-A               8.01,9.01                      01/20/05

Volkswagen Auto Lease Trust 2004-A      DE       8.01,9.01                      01/20/05

VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2            8.01,9.01                      01/20/05

VOLKSWAGEN DEALER FINANCE LLC           DE       8.01,9.01                      01/20/05

VOLKSWAGEN PUBLIC AUTO LOAN SECURITIZ            8.01,9.01                      01/20/05

VTEX ENERGY INC                         NV       8.01,9.01                      01/13/05

VULCAN INTERNATIONAL CORP               DE       8.01                           01/18/05

W3 GROUP INC                            DE       1.01,7.01,9.01                 01/19/05

WABASH NATIONAL CORP /DE                DE       5.02,9.01                      01/19/05

WARNACO GROUP INC /DE/                  DE       2.02                           01/20/05

WASHINGTON MUTUAL INC                   WA       2.02,9.01                      01/19/05

WATERFORD GAMING LLC                    DE       8.01                           01/20/05

WEATHERFORD INTERNATIONAL LTD           D0       1.01,9.01                      01/14/05

WELLCARE HEALTH PLANS, INC.             DE       1.01,9.01                      01/18/05

WESTELL TECHNOLOGIES INC                DE       2.02,9.01                      01/19/05

WESTERN GOLDFIELDS INC                  ID       7.01,9.01                      01/19/05

WHITING PETROLEUM CORP                  DE       2.02,9.01                      01/18/05

WHX CORP                                DE       2.05                           01/13/05

WILLOW GROVE BANCORP INC/NEW            PA       8.01,9.01                      01/20/05

WINTRUST FINANCIAL CORP                 IL       2.02                           01/20/05

WORLD AIR HOLDINGS, INC.                DE       3.02,9.01                      01/18/05

WORLD FUEL SERVICES CORP                FL       7.01,9.01                      01/20/05

WVS FINANCIAL CORP                      PA       2.02,9.01                      01/20/05

XCEL ENERGY INC                         MN       1.01,2.02,9.01                 01/14/05

XILINX INC                              DE       2.02,9.01                      01/20/05