<?xml version="1.0" encoding="utf-8"?>
<!--
	== Copyright (c) 2002-2006. All rights reserved.
	== Financial Products Markup Language is subject to the FpML public license.
	== A copy of this license is available at http://www.fpml.org/documents/license
-->
<FpML xmlns="http://www.fpml.org/2005/FpML-4-2" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.fpml.org/2005/FpML-4-2 ../fpml-main-4-2.xsd" xsi:type="TradeCreated" version="4-2">
	<header>
		<messageId messageIdScheme="http://www.barclaysglobal.com/partners/jpm/schema/v1-1/schemes/messageID">GW:0EB40A0q</messageId>
		<sentBy>BGIAGB2L</sentBy>
		<sendTo>WSSOGB2L</sendTo>
		<creationTimestamp>2005-01-24T04:36:35-08:00</creationTimestamp>
	</header>
	<trade>
		<tradeHeader>
			<partyTradeIdentifier>
				<partyReference href="BGI"/>
				<tradeId id="tid1" tradeIdScheme="http://www.barclaysglobal.com/partners/jpm/schema/v1-1/schemes/tradeID">DJITRAXXUSDMS5Y</tradeId>
				<linkId id="lid1" linkIdScheme="http://www.barclaysglobal.com/partners/jpm/schema/v1-1/schemes/linkID">USDINDEX</linkId>
			</partyTradeIdentifier>
			<tradeDate>2004-01-24</tradeDate>
		</tradeHeader>
		<creditDefaultSwap>
			<generalTerms>
				<effectiveDate>
					<unadjustedDate>2004-03-23</unadjustedDate>
					<dateAdjustments>
						<businessDayConvention>NONE</businessDayConvention>
					</dateAdjustments>
				</effectiveDate>
				<scheduledTerminationDate>
					<adjustableDate>
						<unadjustedDate>2009-03-20</unadjustedDate>
						<dateAdjustments>
							<businessDayConvention>NONE</businessDayConvention>
						</dateAdjustments>
					</adjustableDate>
				</scheduledTerminationDate>
				<sellerPartyReference href="MSCS"/>
				<buyerPartyReference href="BGI"/>
				<basketReferenceInformation>
					<basketName basketNameScheme="http://www.barclaysglobal.com/partners/jpm/coding-scheme/indexId">CDS Basket Sample</basketName>
					<basketId basketIdScheme="http://www.barclaysglobal.com/partners/jpm/coding-scheme/indexId">BASKET089</basketId>
					<referencePool>
						<referencePoolItem>
							<referencePair>
								<referenceEntity id="agriumEntity">
									<entityName>Agrium Inc.</entityName>
									<entityId entityIdScheme="http://www.fpml.org/spec/2003/entity-id-RED-1-0">008HA7</entityId>
								</referenceEntity>
								<referenceObligation>
									<bond>
										<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-CUSIP-1-0">008916AB4</instrumentId>
										<couponRate>0.077</couponRate>
										<maturity>2017-02-01</maturity>
									</bond>
									<primaryObligorReference href="agriumEntity"/>
								</referenceObligation>
								<entityType>NorthAmericanInvestmentGrade</entityType>
							</referencePair>
						</referencePoolItem>
						<referencePoolItem>
							<referencePair>
								<referenceEntity id="tenetEntity">
									<entityName>Tenet Healthcare Corporation</entityName>
									<entityId entityIdScheme="http://www.fpml.org/spec/2003/entity-id-RED-1-0">8G836J</entityId>
								</referenceEntity>
								<referenceObligation>
									<bond>
										<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-CUSIP-1-0">88033GAT7</instrumentId>
										<couponRate>0.06</couponRate>
										<maturity>2011-12-01</maturity>
									</bond>
									<primaryObligorReference href="tenetEntity"/>
								</referenceObligation>
								<entityType>NorthAmericanInvestmentGrade</entityType>
							</referencePair>
						</referencePoolItem>
					</referencePool>
					<tranche>
						<attachmentPoint>0.03</attachmentPoint>
						<exhaustionPoint>0.07</exhaustionPoint>
					</tranche>
				</basketReferenceInformation>
			</generalTerms>
			<feeLeg>
				<periodicPayment>
					<fixedAmountCalculation>
						<calculationAmount>
							<currency>USD</currency>
							<amount>25000000</amount>
						</calculationAmount>
						<fixedRate>0.0060</fixedRate>
						<dayCountFraction>ACT/ACT.ISDA</dayCountFraction>
					</fixedAmountCalculation>
				</periodicPayment>
			</feeLeg>
			<protectionTerms>
				<calculationAmount>
					<currency>USD</currency>
					<amount>25000000</amount>
				</calculationAmount>
				<creditEvents>
					<bankruptcy/>
					<failureToPay>
						<gracePeriodExtension>
							<gracePeriod>
								<periodMultiplier>0</periodMultiplier>
								<period>D</period>
							</gracePeriod>
						</gracePeriodExtension>
						<paymentRequirement>
							<currency>GBP</currency>
							<amount>1000000.00</amount>
						</paymentRequirement>
					</failureToPay>
					<creditEventNotice>
						<notifyingParty>
							<buyerPartyReference href="BGI"/>
							<sellerPartyReference href="MSCS"/>
						</notifyingParty>
						<publiclyAvailableInformation>
							<standardPublicSources/>
							<specifiedNumber>2</specifiedNumber>
						</publiclyAvailableInformation>
					</creditEventNotice>
				</creditEvents>
				<obligations>
					<category>BondOrLoan</category>
				</obligations>
			</protectionTerms>
			<cashSettlementTerms>
				<settlementCurrency>USD</settlementCurrency>
			</cashSettlementTerms>
		</creditDefaultSwap>
		<documentation>
			<contractualDefinitions>ISDA2003Credit</contractualDefinitions>
			<contractualSupplement>ISDA2003CreditMay2003</contractualSupplement>
		</documentation>
	</trade>
	<party id="MSCS">
		<partyId>MSCSBIC</partyId>
		<partyName>Morgan Stanley Captial Services</partyName>
	</party>
	<party id="BGI">
		<partyId>BGIBIC</partyId>
		<partyName>Barclays Global Investors</partyName>
	</party>
</FpML>
