<?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 http://www.w3.org/2000/09/xmldsig# xmldsig-core-schema.xsd" xsi:type="DataDocument">
        <trade>
                <tradeHeader>
                        <partyTradeIdentifier>
                                <partyReference href="PartyA"/>
                                <tradeId tradeIdScheme="http://www.PartyA.com/eqd-trade-id">1234</tradeId>
                        </partyTradeIdentifier>
                        <tradeDate>2001-07-13</tradeDate>
                </tradeHeader>
                <equityOption>
                        <productType>americanCallStock</productType>
                        <buyerPartyReference href="PartyB"/>
                        <sellerPartyReference href="PartyA"/>
                        <optionType>Call</optionType>
                        <underlyer>
                                <singleUnderlyer>
                                        <equity>
                                                <instrumentId instrumentIdScheme="http://www.fpml.org/schemes/4.1/instrumentId">STM-FP</instrumentId>
                                                <description>STMicroelectronics N.V. ordinary shares</description>
                                                <exchangeId exchangeIdScheme="http://www.fpml.org/schemes/4.1/exchangeId">NSE</exchangeId>
                                        </equity>
                                </singleUnderlyer>
                        </underlyer>
                        <equityExercise>
                                <equityAmericanExercise>
                                        <commencementDate>
                                                <adjustableDate>
                                                  <unadjustedDate>2001-07-13</unadjustedDate>
                                                  <dateAdjustments>
                                                  <businessDayConvention>NONE</businessDayConvention>
                                                  </dateAdjustments>
                                                </adjustableDate>
                                        </commencementDate>
                                        <expirationDate>
                                                <adjustableDate>
                                                  <unadjustedDate>2001-09-27</unadjustedDate>
                                                  <dateAdjustments>
                                                  <businessDayConvention>NONE</businessDayConvention>
                                                  </dateAdjustments>
                                                </adjustableDate>
                                        </expirationDate>
                                        <latestExerciseTime>
                                                <hourMinuteTime>17:15:00</hourMinuteTime>
                                                <businessCenter>GBLO</businessCenter>
                                        </latestExerciseTime>
                                        <latestExerciseTimeType>SpecificTime</latestExerciseTimeType>
                                        <equityExpirationTimeType>Close</equityExpirationTimeType>
                                        <equityMultipleExercise>
                                                <integralMultipleExercise>1</integralMultipleExercise>
                                                <minimumNumberOfOptions>1</minimumNumberOfOptions>
                                                <maximumNumberOfOptions>150000</maximumNumberOfOptions>
                                        </equityMultipleExercise>
                                </equityAmericanExercise>
                                <automaticExercise>true</automaticExercise>
                                <equityValuation>
                                        <valuationTimeType>Close</valuationTimeType>
                                </equityValuation>
                                <settlementCurrency>USD</settlementCurrency>
                                <settlementPriceSource>OfficialClose</settlementPriceSource>
                                <settlementType>Physical</settlementType>
                        </equityExercise>
                        <fxFeature>
                                <referenceCurrency>EUR</referenceCurrency>
                                <quanto>
                                        <fxRate>
                                                <quotedCurrencyPair>
                                                  <currency1>USD</currency1>
                                                  <currency2>EUR</currency2>
                                                  <quoteBasis>Currency1PerCurrency2</quoteBasis>
                                                </quotedCurrencyPair>
                                                <rate>0.95</rate>
                                        </fxRate>
                                        <fxSpotRateSource>
                                                <primaryRateSource>
                                                  <rateSource>Reuters</rateSource>
                                                  <rateSourcePage>WMRH</rateSourcePage>
                                                </primaryRateSource>
                                                <fixingTime>
                                                  <hourMinuteTime>15:00:00</hourMinuteTime>
                                                  <businessCenter>DEFR</businessCenter>
                                                </fixingTime>
                                        </fxSpotRateSource>
                                </quanto>
                        </fxFeature>
                        <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>
                        <strike>
                                <strikePrice>32</strikePrice>
                        </strike>
                        <numberOfOptions>150000</numberOfOptions>
                        <optionEntitlement>1.00</optionEntitlement>
                        <equityPremium>
                                <payerPartyReference href="PartyB"/>
                                <receiverPartyReference href="PartyA"/>
                                <paymentAmount>
                                        <currency>EUR</currency>
                                        <amount>405000</amount>
                                </paymentAmount>
                                <paymentDate>
                                        <unadjustedDate>2001-07-17</unadjustedDate>
                                        <dateAdjustments>
                                                <businessDayConvention>NONE</businessDayConvention>
                                        </dateAdjustments>
                                </paymentDate>
                                <pricePerOption>
                                        <currency>EUR</currency>
                                        <amount>2.70</amount>
                                </pricePerOption>
                        </equityPremium>
                </equityOption>
                <calculationAgent>
                        <calculationAgentPartyReference href="PartyA"/>
                </calculationAgent>
                <documentation>
                        <masterAgreement>
                                <masterAgreementType>ISDA2002</masterAgreementType>
                        </masterAgreement>
                        <contractualDefinitions>ISDA2000</contractualDefinitions>
                        <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>
