<?xml version="1.0" encoding="UTF-8"?>
<!--
  == Copyright (c) 2002-2005. 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 version="4-2" 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="DataDocument">
	<trade>
		<tradeHeader>
			<partyTradeIdentifier>
				<partyReference href="PartyA"/>
				<tradeId tradeIdScheme="http://www.PartyA.com/eqd-trade-id">1234</tradeId>
			</partyTradeIdentifier>
			<tradeDate id="TradeDate">2001-07-13</tradeDate>
		</tradeHeader>
		<equityForward>
			<productType>forwardStock</productType>
			<buyerPartyReference href="PartyB"/>
			<sellerPartyReference href="PartyA"/>
			<optionType>Forward</optionType>
			<underlyer>
				<singleUnderlyer>
					<equity>
						<instrumentId instrumentIdScheme="http://www.fpml.org/schemes/4.1/instrumentId">STM-FP</instrumentId>
						<description>STMicroelectronics N.V. ordinary shares</description>
						<currency>EUR</currency>
						<exchangeId exchangeIdScheme="http://www.fpml.org/schemes/4.1/exchangeId">NSE</exchangeId>
					</equity>
					<openUnits>31000</openUnits>
					<dividendPayout>
						<dividendPayoutRatio>100</dividendPayoutRatio>
					</dividendPayout>
				</singleUnderlyer>
			</underlyer>
			<equityExercise>
				<equityEuropeanExercise>
					<expirationDate>
						<adjustableDate>
							<unadjustedDate>2004-07-13</unadjustedDate>
							<dateAdjustments>
								<businessDayConvention>NONE</businessDayConvention>
							</dateAdjustments>
						</adjustableDate>
					</expirationDate>
					<equityExpirationTimeType>OSP</equityExpirationTimeType>
				</equityEuropeanExercise>
				<prePayment>
					<payerPartyReference href="PartyB"/>
					<receiverPartyReference href="PartyA"/>
					<prePayment>true</prePayment>
					<prePaymentAmount>
						<currency>EUR</currency>
						<amount>40500</amount>
					</prePaymentAmount>
					<prePaymentDate>
						<unadjustedDate>2004-07-13</unadjustedDate>
						<dateAdjustments>
							<businessDayConvention>NONE</businessDayConvention>
						</dateAdjustments>
					</prePaymentDate>
				</prePayment>
				<equityValuation>
					<valuationDate id="FinalValuationDate">
						<adjustableDate>
							<unadjustedDate>2004-07-13</unadjustedDate>
							<dateAdjustments>
								<businessDayConvention>NotApplicable</businessDayConvention>
							</dateAdjustments>
						</adjustableDate>
					</valuationDate>
					<valuationTimeType>Close</valuationTimeType>
				</equityValuation>
				<settlementDate>
					<relativeDate>
						<periodMultiplier>2</periodMultiplier>
						<period>D</period>
						<dayType>CurrencyBusiness</dayType>
						<businessDayConvention>NotApplicable</businessDayConvention>
						<dateRelativeTo href="FinalValuationDate"/>
					</relativeDate>
				</settlementDate>
				<settlementCurrency>EUR</settlementCurrency>
				<settlementPriceSource>OfficialClose</settlementPriceSource>
				<settlementType>Physical</settlementType>
			</equityExercise>
			<dividendConditions>
				<dividendReinvestment>false</dividendReinvestment>
				<dividendEntitlement>ExDate</dividendEntitlement>
				<dividendPaymentDate>
					<dividendDateReference>ExDate</dividendDateReference>
				</dividendPaymentDate>
				<dividendPeriodEffectiveDate href="TradeDate"/>
				<dividendPeriodEndDate href="FinalValuationDate"/>
				<extraOrdinaryDividends href="PartyA"/>
				<excessDividendAmount>RecordAmount</excessDividendAmount>
				<paymentCurrency>
					<determinationMethod>DividendCurrency</determinationMethod>
				</paymentCurrency>
			</dividendConditions>
			<methodOfAdjustment>CalculationAgent</methodOfAdjustment>
			<extraordinaryEvents>
				<mergerEvents>
					<shareForShare>ModifiedCalculationAgent</shareForShare>
					<shareForOther>ModifiedCalculationAgent</shareForOther>
					<shareForCombined>ModifiedCalculationAgent</shareForCombined>
				</mergerEvents>
				<tenderOffer>true</tenderOffer>
				<tenderOfferEvents>
					<shareForShare>ModifiedCalculationAgent</shareForShare>
					<shareForOther>ModifiedCalculationAgent</shareForOther>
					<shareForCombined>ModifiedCalculationAgent</shareForCombined>
				</tenderOfferEvents>
				<compositionOfCombinedConsideration>true</compositionOfCombinedConsideration>
				<additionalDisruptionEvents>
					<changeInLaw>true</changeInLaw>
					<failureToDeliver>true</failureToDeliver>
					<insolvencyFiling>false</insolvencyFiling>
					<hedgingDisruption>true</hedgingDisruption>
					<lossOfStockBorrow>true</lossOfStockBorrow>
					<increasedCostOfStockBorrow>false</increasedCostOfStockBorrow>
					<increasedCostOfHedging>false</increasedCostOfHedging>
					<determiningPartyReference href="PartyA"/>
				</additionalDisruptionEvents>
				<representations>
					<nonReliance>true</nonReliance>
					<agreementsRegardingHedging>true</agreementsRegardingHedging>
					<additionalAcknowledgements>true</additionalAcknowledgements>
				</representations>
				<nationalisationOrInsolvency>CancellationAndPayment</nationalisationOrInsolvency>
			</extraordinaryEvents>
			<equityFeatures>
				<asian>
					<averagingInOut>Out</averagingInOut>
					<averagingPeriodOut>
						<averagingDateTimes>
							<dateTime>2000-08-01T08:57:00-00:00</dateTime>
							<dateTime>2000-09-01T08:57:00-00:00</dateTime>
							<dateTime>2000-10-01T08:57:00-00:00</dateTime>
							<dateTime>2000-11-01T08:57:00-00:00</dateTime>
							<dateTime>2000-12-01T08:57:00-00:00</dateTime>
							<dateTime>2001-01-04T08:57:00-00:00</dateTime>
							<dateTime>2001-02-01T08:57:00-00:00</dateTime>
							<dateTime>2001-03-01T08:57:00-00:00</dateTime>
						</averagingDateTimes>
						<marketDisruption>ModifiedPostponement</marketDisruption>
					</averagingPeriodOut>
				</asian>
			</equityFeatures>
			<forwardPrice>
				<currency>EUR</currency>
				<amount>10.20</amount>
			</forwardPrice>
		</equityForward>
		<calculationAgent>
			<calculationAgentPartyReference href="PartyA"/>
		</calculationAgent>
		<documentation>
			<masterAgreement>
				<masterAgreementType>ISDA2002</masterAgreementType>
			</masterAgreement>
			<contractualDefinitions>ISDA2002Equity</contractualDefinitions>
		</documentation>
		<governingLaw>GBEN</governingLaw>
	</trade>
	<party id="PartyA">
		<partyId>Party A</partyId>
	</party>
	<party id="PartyB">
		<partyId>Party B</partyId>
	</party>
</FpML>
