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EXHIBIT 7

Computation of Ratio of Earnings to Fixed Charges
For the five year period ended June 30, 2002

|                                                     |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|---------------------------------------------------- |  | ---- | ----- | ---- |  | ---- | ------ | ---- |  | ---- | ------ | - |  |  | ------ | - |  |  | -------- | -
|                                                     |  | 1998 |       | 1999 |  | 2000 |        | 2001 |  | 2002
|                                                     |  |      |       |      |  |      |        |      |  |     
|                                                     |  | £m   |       | £m   |  | £m   |        | £m   |  | £m  
|U.K. GAAP Earnings                                   |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Profit (loss) on ordinary activities before taxation |  |      | 270.9 |      |  |      | (388.7 | )    |  |      | (262.7 | ) |  |  | (514.5 | ) |  |  | (1,276.2 | )
|Adjustments:                                         |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Fixed charges                                        |  |      | 56.6  |      |  |      | 58.9   |      |  |      | 94.3   |   |  |  | 125.4  |   |  |  | 171.3    |  
|Joint venture losses where debt not guaranteed       |  |      | 16.5  |      |  |      | 58.4   |      |  |      | 129.6  |   |  |  | 283.6  |   |  |  | 79.6     |  
|                                                     |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Total earnings (loss)                                |  |      | 344.0 |      |  |      | (271.4 | )    |  |      | (38.8  | ) |  |  | (105.5 | ) |  |  | (1,025.3 | )
|Fixed charges:                                       |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Interest payable on external financing and leases    |  |      | 56.6  |      |  |      | 58.9   |      |  |      | 94.3   |   |  |  | 125.4  |   |  |  | 171.3    |  
|                                                     |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Total fixed charges                                  |  |      | 56.6  |      |  |      | 58.9   |      |  |      | 94.3   |   |  |  | 125.4  |   |  |  | 171.3    |  
|Ratio of earnings to fixed charges                   |  |      | 6.1   |      |  |      |       |      |  |      |       |   |  |  |       |   |  |  |         |  
|U.S. GAAP Earnings                                   |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Profit (loss) on ordinary activities before taxation |  |      | 259.4 |      |  |      | 1.9    |      |  |      | (473.5 | ) |  |  | (659.6 | ) |  |  | (941.2   | )
|Adjustments:                                         |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Fixed charges                                        |  |      | 47.3  |      |  |      | 58.0   |      |  |      | 92.5   |   |  |  | 124.6  |   |  |  | 172.8    |  
|Joint venture losses where debt not guaranteed       |  |      | 16.5  |      |  |      | 58.4   |      |  |      | 129.6  |   |  |  | 283.6  |   |  |  | 66.1     |  
|                                                     |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Total earnings (loss)                                |  |      | 323.2 |      |  |      | 118.3  |      |  |      | (251.4 | ) |  |  | (251.4 | ) |  |  | (702.3   | )
|Fixed charges:                                       |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Interest payable on external financing and leases    |  |      | 56.6  |      |  |      | 58.9   |      |  |      | 94.3   |   |  |  | 125.4  |   |  |  | 171.3    |  
|Capitalized interest                                 |  |      | (10.0 | )    |  |      | (0.9   | )    |  |      | (1.8   | ) |  |  | (0.8   | ) |  |  | 1.5      |  
|Imputed interest                                     |  |      | 0.7   |      |  |      |       |      |  |      |       |   |  |  |       |   |  |  |         |  
|                                                     |  |      |       |      |  |      |        |      |  |      |        |   |  |  |        |   |  |  |          |  
|Total fixed charges                                  |  |      | 47.3  |      |  |      | 58.0   |      |  |      | 92.5   |   |  |  | 124.6  |   |  |  | 172.8    |  
|Ratio of earnings to fixed charges                   |  |      | 6.8   |      |  |      | 2.0    |      |  |      |       |   |  |  |       |   |  |  |         |  



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|(1) |  | After exceptional items, under U.K. GAAP, for the year ended June 30, 2002, the deficiency of earnings coverage was £1,196.6 million
($1,836.4 million) (2001: £230.9 million ($324.2 million); (2000: £133.1 million ($186.9 million)).
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   
|(2) |  | After exceptional items, under U.S. GAAP, for the year ended June 30, 2002, the deficiency of earnings coverage was £875.1 million
($1,343.0 million) (2001: £376.0 million ($527.9 million); 2000: £343.9 million ($482.9 million)).