Exhibit
  7

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Ratio of earnings to fixed charges (unaudited)

Consolidated ratios of earnings to
    fixed charges calculated in accordance with UK GAAP and US GAAP for the 15
    months ended December 31, 2003, for the three
    months ended December 31, 2002 and 12 months ended December 31, 2003, and
    the years ended September 30, 2002, 2001, 2000 and 1999 are as follows.

|        |                                    |  |                                 |  |                             |  | Year ended September 30 | 
|------- | ---------------------------------- |  | ------------------------------- |  | --------------------------- |  | ----------------------- | 
|        | Three months
    endedDecember 31, |  | 12 months endedDecember
    31, |  | 15 months endedDecember 31, |  |                         | 
|        | 2002                               |  | 2003                            |  | 2003                        |  | 2002                    | 
|UK GAAP | 8.9                                |  | (a)                             |  | (a)                         |  | 2.0                     | 
|US GAAP | 8.0                                |  | (b)                             |  | 1.1                         |  | 2.2                     | 
|        |                                    |  |                                 |  |                             |  |                         | 

|    |                                                                                           
|--- | ------------------------------------------------------------------------------------------
|(a) | Earnings calculated under UK GAAP were insufficient
    to cover fixed charges as follows:
|    |                                                                                           
|    | 12 months ended December 31,
    2003                                                     
|    |                                                                                           
|    | 15 months ended December 31, 2003                                                         
|    |                                                                                           
|(b) | Earnings calculated under US GAAP were insufficient
    to cover fixed charges as follows:
|    |                                                                                           
|    | 12 months ended December 31, 2003                                                         
|    |                                                                                           
|    | Year ended September 30, 1999                                                             
|    |                                                                                           

The ratio of earnings to fixed charges was computed by dividing the amount of earnings by the amount of fixed charges.  Earnings were calculated by adding:

      consolidated income from continuing operations before taxes on income;

      dividend income receivable from associated companies less than 50% owned; and

      fixed charges;

and then deducting:

      share of pre-tax income of companies less than 50% owned and

      the pre-tax value of preferred share dividends payable by our subsidiaries.

Fixed charges are calculated by adding interest on all indebtedness and amortization of debt issues, and the element of rental expense which was deemed to be representative of interest.



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|                                                                | 15
        months ended December 31, 2003 |   | Three
        months ended December 31, 2002 | 12
        months ended December 31, 2003 |        
|--------------------------------------------------------------- | ----------------------------------------- | - | -------------------------------------------- | ----------------------------------------- | -------
|                                                                |                                           |   |                                              |                                           |        
|                                                                |                                           |   | Adjustments                                  |                                           |        
|                                                                |                                           |   | from UK to                                   |                                           |        
|                                                                | UK GAAP                                   |   | US GAAP                                      |                                           | US GAAP
|                                                                |                                           |   |                                              |                                           |        
|Income
          from continuing operations before income taxes | (35                                       | ) | 51                                           |                                           | 16     
|                                                                |                                           |   |                                              |                                           |        
|Add/(deduct):                                                   |                                           |   |                                              |                                           |        
|Fixed
        charges                                           | 182                                       |   | –                                            |                                           | 182    
|                                                                |                                           |   |                                              |                                           |        
|Earnings                                                        | 147                                       |   | 51                                           |                                           | 198    
|                                                                |                                           |   |                                              |                                           |        
|                                                                |                                           |   |                                              |                                           |        
|Fixed charges:                                                  |                                           |   |                                              |                                           |        
|Interest
        expense                                        | 160                                       |   | –                                            |                                           | 160    
|Estimate of interest
        with rent expense                  | 22                                        |   | –                                            |                                           | 22     
|                                                                |                                           |   |                                              |                                           |        
|Total fixed charges                                             | 182                                       |   | –                                            |                                           | 182    
|                                                                |                                           |   |                                              |                                           |        
|                                                                |                                           |   |                                              |                                           |        
|Ratio of earnings to fixed charges                              | –                                         |   |                                              |                                           | 1.1    
|                                                                |                                           |   |                                              |                                           |        
|Deficiency in £                                                 | 35                                        |   |                                              |                                           | –      
|                                                                |                                           |   |                                              |                                           |        

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|                                                              | Year ended September
        30 |  
|------------------------------------------------------------- | ------------------------------- | -
|                                                              |                                 |  
|                                                              |                                 |  
|                                                              |                                 |  
|                                                              |                                 |  
|                                                              |                                 |  
|                                                              | UK GAAP                         |  
|                                                              |                                 |  
|                                                              |                                 |  
|Income from continuing
        operations before income taxes | 114                             |  
|Less:
        Income related to equity method investees       | (6                              | )
|Add/(deduct):                                                 |                                 |  
|Fixed charges                                                 | 211                             |  
|Distributed income of equity method investees                 | 3                               |  
|                                                              |                                 |  
|Earnings                                                      | 322                             |  
|                                                              |                                 |  
|                                                              |                                 |  
|Fixed charges:Interest
          expense                      | 188                             |  
|Estimate of interest with rent expense                        | 23                              |  
|                                                              |                                 |  
|Total fixed charges                                           | 211                             |  
|                                                              |                                 |  
|                                                              |                                 |  
|Ratio of earnings to
        fixed charges                    | 1.5                             |  
|                                                              |                                 |  
|Deficiency in £                                               | –                               |  
|                                                              |                                 |  

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