<?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/eqs-trade-id">1234</tradeId>
			</partyTradeIdentifier>
			<partyTradeIdentifier>
				<partyReference href="PartyB"/>
				<tradeId tradeIdScheme="http://http://www.partyB.com/eqs-trade-id">5678</tradeId>
			</partyTradeIdentifier>
			<tradeDate id="TradeDate">2002-07-17</tradeDate>
		</tradeHeader>
		<returnSwap>
			<productType>CompositeBasketSwap</productType>
			<returnLeg>
				<payerPartyReference href="PartyA"/>
				<receiverPartyReference href="PartyB"/>
				<effectiveDate id="EffectiveDate">
					<adjustableDate>
						<unadjustedDate>2002-07-20</unadjustedDate>
						<dateAdjustments>
							<businessDayConvention>NotApplicable</businessDayConvention>
						</dateAdjustments>
					</adjustableDate>
				</effectiveDate>
				<terminationDate id="TerminationDate">
					<adjustableDate>
						<unadjustedDate>2004-07-20</unadjustedDate>
						<dateAdjustments>
							<businessDayConvention>FOLLOWING</businessDayConvention>
							<businessCenters>
								<businessCenter>EUTA</businessCenter>
								<businessCenter>GBLO</businessCenter>
							</businessCenters>
						</dateAdjustments>
					</adjustableDate>
				</terminationDate>
				<underlyer>
					<basket>
						<openUnits>1</openUnits>
						<basketConstituent>
							<bond>
								<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">67812345</instrumentId>
								<description>Telecom Italia spa</description>
								<currency>EUR</currency>
								<exchangeId exchangeIdScheme="http://www.fpml.org/schemes/4.0/exchangeId">Milan Stock Exchange</exchangeId>
							</bond>
							<constituentWeight>
								<openUnits>432000</openUnits>
							</constituentWeight>
						</basketConstituent>
						<basketConstituent>
							<bond>
								<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">56781234</instrumentId>
								<description>Nokya Oyj</description>
								<currency>EUR</currency>
								<exchangeId exchangeIdScheme="http://www.fpml.org/schemes/4.0/exchangeId">Helsinki Stock Exchange</exchangeId>
							</bond>
							<constituentWeight>
								<openUnits>227000</openUnits>
							</constituentWeight>
						</basketConstituent>
						<basketConstituent>
							<bond>
								<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">45678123</instrumentId>
								<description>Telecom Italia Mobile spa</description>
								<currency>EUR</currency>
								<exchangeId exchangeIdScheme="http://www.fpml.org/schemes/4.0/exchangeId">Milan Stock Exchange</exchangeId>
							</bond>
							<constituentWeight>
								<openUnits>783000</openUnits>
							</constituentWeight>
						</basketConstituent>
						<basketConstituent>
							<bond>
								<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">34567812</instrumentId>
								<description>Telefonica de Espana</description>
								<currency>EUR</currency>
								<exchangeId exchangeIdScheme="http://www.fpml.org/schemes/4.0/exchangeId">Madrid Stock Exchange</exchangeId>
							</bond>
							<constituentWeight>
								<openUnits>344000</openUnits>
							</constituentWeight>
						</basketConstituent>
						<basketConstituent>
							<bond>
								<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">23456781</instrumentId>
								<description>Portugal Telecom SA</description>
								<currency>EUR</currency>
								<exchangeId exchangeIdScheme="http://www.fpml.org/schemes/4.0/exchangeId">Interbolsa</exchangeId>
							</bond>
							<constituentWeight>
								<openUnits>340000</openUnits>
							</constituentWeight>
						</basketConstituent>
						<basketConstituent>
							<bond>
								<instrumentId instrumentIdScheme="http://www.fpml.org/spec/2002/instrument-id-ISIN-1-0">12345678</instrumentId>
								<description>Vodafone Group</description>
								<currency>GBP</currency>
								<exchangeId exchangeIdScheme="http://www.fpml.org/spec/2002/exchange-id-REC-1-0">L</exchangeId>
							</bond>
							<constituentWeight>
								<openUnits>2486000</openUnits>
							</constituentWeight>
						</basketConstituent>
						<basketConstituent>
							<index>
								<instrumentId instrumentIdScheme="http://www.bloomberg.com">MSCIWGBI</instrumentId>
								<description>MSCI World Government Bond Index.</description>
								<currency>USD</currency>
							</index>
						</basketConstituent>
					</basket>
				</underlyer>
				<rateOfReturn>
					<initialPrice>
						<determinationMethod>GoodFaith</determinationMethod>
						<valuationRules>
							<valuationDate>
								<relativeDateSequence>
									<dateRelativeTo href="EffectiveDate"/>
									<dateOffset>
										<periodMultiplier>0</periodMultiplier>
										<period>D</period>
										<businessDayConvention>NotApplicable</businessDayConvention>
									</dateOffset>
								</relativeDateSequence>
							</valuationDate>
							<valuationTimeType>Close</valuationTimeType>
							<valuationTime>
								<hourMinuteTime>17:32:00</hourMinuteTime>
								<businessCenter>EUTA</businessCenter>
							</valuationTime>
						</valuationRules>
					</initialPrice>
					<notionalReset>true</notionalReset>
					<valuationPriceInterim>
						<determinationMethod>PriceAtValuationTime</determinationMethod>
						<valuationRules>
							<valuationDates id="InterimValuationDates">
								<adjustableDates>
									<unadjustedDate>2002-07-26</unadjustedDate>
									<unadjustedDate>2002-08-28</unadjustedDate>
									<unadjustedDate>2002-09-26</unadjustedDate>
									<unadjustedDate>2002-10-27</unadjustedDate>
									<unadjustedDate>2002-11-28</unadjustedDate>
									<unadjustedDate>2002-12-26</unadjustedDate>
									<unadjustedDate>2003-01-29</unadjustedDate>
									<unadjustedDate>2003-02-26</unadjustedDate>
									<unadjustedDate>2003-03-26</unadjustedDate>
									<unadjustedDate>2003-04-28</unadjustedDate>
									<unadjustedDate>2003-05-28</unadjustedDate>
									<unadjustedDate>2003-06-26</unadjustedDate>
									<unadjustedDate>2003-07-29</unadjustedDate>
									<unadjustedDate>2003-08-27</unadjustedDate>
									<unadjustedDate>2003-09-26</unadjustedDate>
									<unadjustedDate>2003-10-29</unadjustedDate>
									<unadjustedDate>2003-11-26</unadjustedDate>
									<unadjustedDate>2003-12-29</unadjustedDate>
									<unadjustedDate>2004-01-28</unadjustedDate>
									<unadjustedDate>2004-02-25</unadjustedDate>
									<unadjustedDate>2004-03-26</unadjustedDate>
									<unadjustedDate>2004-04-28</unadjustedDate>
									<unadjustedDate>2004-05-27</unadjustedDate>
									<unadjustedDate>2004-06-28</unadjustedDate>
									<dateAdjustments>
										<businessDayConvention>NotApplicable</businessDayConvention>
									</dateAdjustments>
								</adjustableDates>
							</valuationDates>
							<valuationTimeType>Close</valuationTimeType>
						</valuationRules>
					</valuationPriceInterim>
					<valuationPriceFinal>
						<determinationMethod>HedgeUnwind</determinationMethod>
						<valuationRules>
							<valuationDate id="FinalValuationDate">
								<adjustableDate>
									<unadjustedDate>2004-07-15</unadjustedDate>
									<dateAdjustments>
										<businessDayConvention>NotApplicable</businessDayConvention>
									</dateAdjustments>
								</adjustableDate>
							</valuationDate>
						</valuationRules>
					</valuationPriceFinal>
					<paymentDates id="EquityPaymentDate">
						<paymentDatesInterim id="InterimEquityPaymentDate">
							<relativeDates>
								<periodMultiplier>3</periodMultiplier>
								<period>D</period>
								<businessDayConvention>FOLLOWING</businessDayConvention>
								<businessCenters id="primaryBusinessCenter">
									<businessCenter>EUTA</businessCenter>
								</businessCenters>
								<dateRelativeTo href="InterimValuationDates"/>
							</relativeDates>
						</paymentDatesInterim>
						<paymentDateFinal id="FinalEquityPaymentDate">
							<relativeDate>
								<periodMultiplier>3</periodMultiplier>
								<period>D</period>
								<dayType>Calendar</dayType>
								<businessDayConvention>FOLLOWING</businessDayConvention>
								<businessCentersReference href="primaryBusinessCenter"/>
								<dateRelativeTo href="FinalValuationDate"/>
							</relativeDate>
						</paymentDateFinal>
					</paymentDates>
				</rateOfReturn>
				<notional id="EquityNotionalAmount">
					<notionalAmount>
						<currency>EUR</currency>
						<amount>10500000.00</amount>
					</notionalAmount>
				</notional>
				<amount>
					<paymentCurrency href="ReferenceCurrency"/>
					<referenceAmount>ISDA Standard</referenceAmount>
					<cashSettlement>false</cashSettlement>
				</amount>
				<return>
					<returnType>Total</returnType>
				</return>
				<notionalAdjustments>Execution</notionalAdjustments>
				<fxFeature>
					<referenceCurrency id="ReferenceCurrency">EUR</referenceCurrency>
					<composite>
						<determinationMethod>GoodFaith</determinationMethod>
					</composite>
				</fxFeature>
			</returnLeg>
			<interestLeg>
				<payerPartyReference href="PartyB"/>
				<receiverPartyReference href="PartyA"/>
				<interestLegCalculationPeriodDates id="InterestLegPeriodDates">
					<effectiveDate>
						<relativeDate>
							<periodMultiplier>3</periodMultiplier>
							<period>D</period>
							<dayType>ExchangeBusiness</dayType>
							<businessDayConvention>NotApplicable</businessDayConvention>
							<dateRelativeTo href="TradeDate"/>
						</relativeDate>
					</effectiveDate>
					<terminationDate>
						<relativeDate>
							<periodMultiplier>0</periodMultiplier>
							<period>D</period>
							<businessDayConvention>NotApplicable</businessDayConvention>
							<businessCentersReference href="primaryBusinessCenter"/>
							<dateRelativeTo href="FinalEquityPaymentDate"/>
						</relativeDate>
					</terminationDate>
					<interestLegResetDates>
						<calculationPeriodDatesReference href="InterestLegPeriodDates"/>
						<resetRelativeTo>CalculationPeriodStartDate</resetRelativeTo>
					</interestLegResetDates>
					<interestLegPaymentDates>
						<relativeDates>
							<periodMultiplier>0</periodMultiplier>
							<period>D</period>
							<businessDayConvention>NotApplicable</businessDayConvention>
							<businessCentersReference href="primaryBusinessCenter"/>
							<dateRelativeTo href="EquityPaymentDate"/>
						</relativeDates>
					</interestLegPaymentDates>
				</interestLegCalculationPeriodDates>
				<notional>
					<amountRelativeTo href="EquityNotionalAmount"/>
				</notional>
				<interestAmount>
					<paymentCurrency href="ReferenceCurrency"/>
					<referenceAmount>Standard ISDA</referenceAmount>
				</interestAmount>
				<interestCalculation>
					<floatingRateCalculation>
						<floatingRateIndex>EUR-EURIBOR-Telerate</floatingRateIndex>
						<indexTenor>
							<periodMultiplier>3</periodMultiplier>
							<period>M</period>
						</indexTenor>
						<spreadSchedule>
							<initialValue>0.0050</initialValue>
						</spreadSchedule>
					</floatingRateCalculation>
					<dayCountFraction>ACT/365.FIXED</dayCountFraction>
				</interestCalculation>
				<stubCalculationPeriod>
					<initialStub>
						<stubRate>0.02125</stubRate>
						<stubStartDate>
							<relativeDate>
								<periodMultiplier>0</periodMultiplier>
								<period>D</period>
								<businessDayConvention>NotApplicable</businessDayConvention>
								<dateRelativeTo href="EffectiveDate"/>
							</relativeDate>
						</stubStartDate>
						<stubEndDate>
							<adjustableDate>
								<unadjustedDate>2002-08-01</unadjustedDate>
								<dateAdjustments>
									<businessDayConvention>NotApplicable</businessDayConvention>
								</dateAdjustments>
							</adjustableDate>
						</stubEndDate>
					</initialStub>
					<finalStub>
						<floatingRate>
							<floatingRateIndex>EUR-EURIBOR-Telerate</floatingRateIndex>
							<indexTenor>
								<periodMultiplier>1</periodMultiplier>
								<period>W</period>
							</indexTenor>
							<spreadSchedule>
								<initialValue>0.0050</initialValue>
							</spreadSchedule>
						</floatingRate>
						<stubStartDate>
							<adjustableDate>
								<unadjustedDate>2004-07-01</unadjustedDate>
								<dateAdjustments>
									<businessDayConvention>NotApplicable</businessDayConvention>
								</dateAdjustments>
							</adjustableDate>
						</stubStartDate>
						<stubEndDate>
							<relativeDate>
								<periodMultiplier>0</periodMultiplier>
								<period>D</period>
								<businessDayConvention>NotApplicable</businessDayConvention>
								<dateRelativeTo href="TerminationDate"/>
							</relativeDate>
						</stubEndDate>
					</finalStub>
				</stubCalculationPeriod>
			</interestLeg>
			<extraordinaryEvents>
				<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>
			</extraordinaryEvents>
		</returnSwap>
		<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>
