SEC NEWS DIGEST Issue 2004-241 December 16, 2004 COMMISSION ANNOUNCEMENTS OFFICE OF THE CHIEF ACCOUNTANT ISSUES STATEMENT ON FANNIE MAE ACCOUNTING Donald T. Nicolaisen, Chief Accountant for the Securities and Exchange Commission (Commission), issued the following statement regarding the compliance of the Federal National Mortgage Association’s (Fannie Mae) accounting practices for deferred purchase price adjustments and for derivatives and hedging activities with Statement of Financial Accounting Standards No. 91, “Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases” (Statement No. 91), and Statement of Financial Accounting Standards No. 133, “Accounting for Derivative Instruments and Hedging Activities” (Statement No. 133): At the request of Fannie Mae, the accounting staff at the Commission has been reviewing whether the accounting used by Fannie Mae complied with Statement Nos. 91 and 133. The Office of Federal Housing Enterprise Oversight (OFHEO), Fannie Mae’s safety and soundness regulator, has reviewed several of Fannie Mae’s accounting practices, focusing on the implications of those practices on the adequacy of Fannie Mae’s regulatory capital, the quality of its management, and the overall safety and soundness of the enterprise. OFHEO issued a preliminary report of its findings on September 17, 2004. Following the issuance of OFHEO’s report, Fannie Mae sought guidance from the Commission’s accounting staff regarding accounting policy matters associated with Fannie Mae’s compliance with Statement Nos. 91 and 133. Although it is unusual for the accounting staff to provide such guidance while there are pending investigations by the Commission and other agencies, Fannie Mae requested our guidance because, in its view, these accounting issues have received extraordinary public attention and resulted in the mortgage and capital markets experiencing uncertainty. Fannie Mae did not ask the accounting staff to express any views on factual matters or matters that require factual development and, in providing the requested guidance, we are not expressing any such views. The staff’s guidance is based solely on information voluntarily provided by Fannie Mae and OFHEO. In light of the public attention and uncertainties cited by Fannie Mae in its request, and other matters involving Fannie Mae that are publicly available, including OFHEO’s report, we are issuing this statement of the staff’s views. The issues considered by the SEC staff were not the appropriateness of Fannie Mae’s business decisions to use financial or derivative instruments or to hedge its risks, but whether the accounting used to record those transactions complied with Statement Nos. 91 and 133. Our review indicates that during the period under our review, from 2001 to mid-2004, Fannie Mae’s accounting practices did not comply in material respects with the accounting requirements in Statement Nos. 91 and 133. Regarding Statement No. 91, during the period under the SEC staff’s review, Fannie Mae failed to record timely adjustments to the recorded amount of its loans based on changes in the estimated speed with which those loans would be prepaid. Among other requirements, Statement No. 91 provides that when applying the method used by Fannie Mae an entity should use its best estimate of expected prepayment rates in calculating the carrying amount of its loans. Fannie Mae previously had concluded that its methodology for performing these calculations for interim balance sheet dates in the periods 2001 through 2002 was not consistent with Statement No. 91, and has stated that it has changed its accounting policies to, among other things, calculate the amounts based on quarter-end positions rather than projected year-end positions. It also appears that, contrary to Statement No. 91, Fannie Mae recognized adjustments to the carrying amount of its loans only if they exceeded a self-defined materiality limit, referred to as a “precision threshold.” Fannie Mae has represented to the Commission staff that it has initiated further changes to eliminate the “precision threshold” and is working with OFHEO to further amend its accounting practices under Statement No. 91. Regarding Statement No. 133, one of the principles underlying the statement is that derivative instruments are to be recorded at their fair value with changes in fair value reported in earnings. If certain hedge criteria are met, however, Statement No. 133 affords special accounting for the hedge relationship. If the specific hedging requirements are not met, then special hedge accounting is not appropriate. Fannie Mae internally developed its own unique methodology to assess whether hedge accounting was appropriate. Fannie Mae’s methodology, however, did not qualify for hedge accounting because of deficiencies in its application of Statement No. 133. Among other things, Fannie Mae’s methodology of assessing, measuring, and documenting hedge ineffectiveness was inadequate and was not supported by the Statement. We understand that Fannie Mae is working with an outside adviser to amend its hedge accounting practices and develop an appropriate approach to hedge accounting under Statement No. 133. This evening, therefore, I have advised Fannie Mae that, to be consistent with Statement Nos. 91 and 133 and to provide investors with appropriate information, Fannie Mae should: · Restate its financial statements filed with the Commission to eliminate the use of hedge accounting. · Evaluate the accounting under Statement No. 91 and restate its financial statements filed with the Commission if the amounts required for correction are material. · Re-evaluate the information prepared under generally accepted accounting principles (GAAP) and non-GAAP information that Fannie Mae previously provided to investors, particularly in view of the decision that hedge accounting is not appropriate. I appreciate the cooperation extended by Fannie Mae and OFHEO during our review and their willingness to provide us with information and detailed explanations of their views. It is my understanding that investigations into these and related matters by Fannie Mae’s special review committee, the Commission, and others are continuing. (Press Rel. 2004-172) SEC ESTABLISHES ADVISORY COMMITTEE TO EXAMINE IMPACT OF SARBANES-OXLEY ACT ON SMALLER PUBLIC COMPANIES Securities and Exchange Commission Chairman William H. Donaldson today announced the establishment of an advisory committee to assist the Commission in examining the impact of the Sarbanes-Oxley Act and other aspects of the federal securities laws on smaller public companies. Appearing at a press conference today with the two individuals named as Co-Chairs of the committee, Chairman Donaldson stated, “The Sarbanes- Oxley Act has already been of enormous benefit to America’s investors and markets and will spur further improvements. Now the time is ripe to review how the Act, including areas like internal control reporting, and other aspects of the SEC’s regulations affect smaller companies.” The Co-Chairs of the new committee are Herbert S. Wander, a Chicago lawyer and partner in the law firm Katten Muchin Zavis Rosenman, and James C. Thyen, President and Chief Executive Officer of Kimball International, Inc., a diversified global manufacturer of furnishings and electronics based in Jasper, Indiana. Chairman Donaldson said he expects between 9 and 19 additional members of the advisory committee to be named within the next few weeks, taking into consideration the varied interests to be represented and a fair balance of points of view. The advisory committee will be known as the Securities and Exchange Commission Advisory Committee on Smaller Public Companies. Its areas of inquiry will be: · frameworks for internal control over financial reporting applicable to smaller public companies, methods for management’s assessment of such internal control, and standards for auditing such internal control; · corporate disclosure and reporting requirements and federally-imposed corporate governance requirements for smaller public companies, including differing regulatory requirements based on market capitalization, other measurements of size or market characteristics; · accounting standards and financial reporting requirements applicable to smaller public companies; and · the process, requirements and exemptions relating to offerings of securities by smaller companies, particularly public offerings. Chairman Donaldson explained that the advisory committee would be charged with considering the impact of the Sarbanes-Oxley Act of 2002 in each of these areas. The SEC will direct the committee to conduct its work with a view of protecting investors, considering whether the costs imposed by the current securities regulatory system for smaller public companies are proportionate to the benefits, identifying methods of minimizing costs and maximizing benefits, and facilitating capital formation by smaller companies. The Chairman also stated the Commission expects the committee to provide recommendations as to where and how the Commission should draw lines to scale regulatory treatment for companies based on size. Mr. Wander expressed enthusiasm for the project, commenting, “I am honored to be selected to Co-Chair this committee and to consider these vital small business issues. Small public companies play an integral role in our economy and I am eager to get to work on these important issues.” Mr. Thyen added, “Chairman Donaldson is clearly committed to addressing the challenges facing small public companies. I look forward to working with Herbert Wander and the other members of the advisory committee as we move forward.” Alan L. Beller, Director of the SEC’s Division of Corporation Finance, applauded the decision to establish the advisory committee. Beller stated, “Ensuring that the benefits of securities regulation of smaller public companies outweigh the costs is important to the health of our economy and the role that these companies play in job creation and full employment.” The advisory committee will commence operations shortly after the additional members are named and the SEC staff files the committee’s charter with Congress. (Press Rel. 2004-174) RULES AND RELATED MATTERS REGULATION NMS REPROPOSING RELEASE AND REQUEST FOR COMMENT The Securities and Exchange Commission is republishing for public comment proposed rules under Regulation NMS and two amendments to the joint industry plans for disseminating market information, to give the public an opportunity to review and comment on proposed modifications to the original rule text to reflect comments received. In particular, the Commission is reproposing the following rules and amendments: (1) Rule 611 of Regulation NMS, which would affirm the fundamental principle of price priority by limiting trade-throughs of protected quotations for all NMS stocks; (2) Rule 610 of Regulation NMS, which would promote fair and non- discriminatory access to quotations through a private linkage approach and establish a limit on access fees to harmonize the pricing of quotations across different trading centers; (3) Rule 612 of Regulation NMS, which would establish a uniform pricing increment of no less than a penny for orders, quotations, or indications of interest, except for those priced at less than $1.00 per share; (4) Amendments to Rules 11Aa3-1 and 11Ac1-2 under the Securities Exchange Act of 1934 ("Exchange Act") (redesignated as Rule 601 and 603 of Regulation NMS), which would update the requirements for consolidating, distributing, and displaying market information, and amendments to the joint industry plans for disseminating market information that would modify the formulas for allocating plan revenues and broaden participation in plan governance; and (5) Redesignation of the national market system ("NMS") rules adopted under the Exchange Act and inclusion of those rules, as well as reproposed Rules 610, 611, and 612, under Regulation NMS. Regulation NMS also would include a separate definitional rule that would (i) retain most of the definitions currently used in the NMS rules, (ii) include new definitions related to the reproposed rules, and (iii) update or eliminate obsolete definitions in the NMS rules. Comments on the release are due within 30 days following publication in the Federal Register. (Rel. 34-50870) ENFORCEMENT PROCEEDINGS SEC ISSUES NOTICE OF PROPOSED DISTRIBUTION PLAN AND OPPORTUNITY FOR COMMENT IN IN THE MATTER OF GRANT THORNTON LLP ET AL. The Securities and Exchange Commission (Commission) announced today that it gave notice, pursuant to Rule 1103 of the Securities and Exchange Commission’s (“Commission”) Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. §201.1103, that the Division of Enforcement has filed its proposed plan (Distribution Plan) for the distribution of monies placed into a Fair Fund, pursuant to Section 308 of the Sarbanes-Oxley Act of 2002, in In the Matter of Grant Thornton LLP et al. The Distribution Plan provides for distribution of the disgorgement, prejudgment interest and penalties paid by Grant Thornton and Doeren Mayhew (the Distribution Fund) to the holders (claimants) of MCA Financial Corporation’s 11% subordinated debentures, Series 1997, due June 1, 2003 (Series 1997 debentures). The Distribution Fund consists of the $59,749.41 in disgorgement and prejudgment interest and $1.5 million in penalties paid by Grant Thornton and the $115,126.86 in disgorgement and prejudgment interest paid by Doeren Mayhew pursuant to an Order Making Findings and Imposing Remedial Sanctions entered by the Commission on August 5, 2004 (See Rel. 34-50148; AAE Rel. 2076; Aug. 5, 2004). Each claimant shall receive a pro rata share of the Distribution Fund after payment of a plan administrator’s reasonable fees and reimbursement of a plan administrator’s reasonable costs and expenses. Claimants shall be those individuals and entities who invested in, and held as of January 22, 1999, MCA’s 11% subordinated debentures, Series 1997, due June 1, 2003, or their lawful successors, except for individuals who were employed by MCA. A claimant’s pro rata share will be computed by calculating the amount invested by the claimant in MCA’s 11% subordinated debentures, Series 1997, due June 1, 2003 as a percentage of the total amount invested in MCA’s 11% subordinated debentures, Series 1997, due June 1, 2003. A copy of the Distribution Plan may be obtained by submitting a written request to Peter Chan, United States Securities and Exchange Commission, 175 West Jackson Boulevard, Suite 900, Chicago, IL 60604. All persons desiring to comment on the Distribution Plan may submit their views in writing, no later than January 14, 2005, to the Office of the Secretary, United States Securities and Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549-0609. (Rel. 34-50861; AAER- 2151; File No. 3-11377) KNIGHT SECURITIES, L.P. PAYS OVER $79 MILLION TO SETTLE SEC AND NASD FRAUD CHARGES On December 16, Knight Securities, L.P. consented to entry of a Commission Order instituting settled administrative cease and desist proceedings, without admitting or denying the findings therein. The Commission’s Order finds between January 1999 through November 2000 Knight defrauded its institutional customers by extracting excessive profits out of its customers’ not-held orders while failing to meet the firm’s duty to provide best execution to the institutions that placed those orders. The Order finds that during the same period Knight failed reasonably to supervise Knight’s former leading sales trader and the person primarily responsible for Knight’s fraudulent trading. The Order also finds that between 2000 and 2001, Knight failed reasonably to supervise its institutional sales traders while they were systematically misusing Automated Confirmation Transaction Service trade modifiers which led to the sales traders recording inaccurate execution times on the firm’s trading blotters. Finally, the Order finds that Knight violated the books and records provisions of the federal securities laws. In the Commission’s order, Knight consented to the entry of the Commission’s order, which requires that Knight (i) pay disgorgement in the amount of $41,146,663.50 and prejudgment interest thereon in the amount of $13,195,068, (ii) pay a civil money penalty in the amount of $12,500,000 to the Commission, (iii) cease and desist from committing or causing any violation and any future violation of Sections 15(c)(1) and 17(a) of the Exchange Act and Rules 17a-3(a)(1), 17a-3(a)(7), 17a- 4(b)(1) and 17a-4(b)(4) of the Exchange Act, and (iv) be censured pursuant to Section 15(b)(4) of the Exchange Act. Knight will also pay an additional $12,500,000 million in fines to settle a parallel NASD proceeding. Knight has also voluntarily agreed to retain an Independent Compliance Consultant. The Commission acknowledges the assistance of the National Association of Securities Dealers in the investigation of this matter. (Rel. 34-50867; File No. 3-11771) IN THE MATTER OF PENNICHUCK CORPORATION On December 16, the Commission announced the issuance against Pennichuck Corporation of an Order Instituting Cease-and-Desist Proceedings, Making Findings, and Imposing a Cease-and-Desist Order Pursuant to Section 21C of the Securities Exchange Act of 1934. The Order finds that Pennichuck, a New Hampshire corporation based in Merrimack, New Hampshire, made false and misleading disclosures in its filings with the Commission concerning Pennichuck’s real estate operations. Pennichuck’s Form 10-KSB for the fiscal year ended December 31, 1998 contained the false statement that an executive officer of Pennichuck purchased a home from one of Pennichuck’s real estate joint ventures on the same terms that were available to any independent third party. In fact, in 1998, Pennichuck’s then-chief executive officer, Maurice L. Arel, purchased a home from Pennichuck’s joint venture, and obtained favorable terms worth approximately $70,000 that were not available to other purchasers. Pennichuck’s false statement went uncorrected until early 2003. In addition, Pennichuck’s public filings for the period 1998 through 2002 failed to disclose that its real estate joint ventures paid a company controlled by its former CEO’s son approximately $800,000 for landscaping work during that period. Pennichuck’s public filings from 1998 through 2002 were also inaccurate and incomplete concerning the extent of its real estate transactions with a single developer because Pennichuck’s public filings failed to disclose that the same developer was its partner on six joint ventures, obtained multiple contracts and loans from Pennichuck, and provided its CEO with favorable terms on his home purchase and the CEO’s son with landscaping contracts worth approximately $800,000. Based on the above, the Order requires Pennichuck to cease and desist from committing or causing any violations and any future violations of Sections 10(b), 13(a), and 14(a) of the Exchange Act and Rules 10b-5, 12b-20, 13a-1, 13a-13, and 14a-9 thereunder. Pennichuck consented to the issuance of the Order without admitting or denying any of the findings in the Order. The Commission simultaneously announced the filing of a settled civil injunctive action in the federal district court in New Hampshire against Maurice L. Arel of Nashua, New Hampshire, enjoining Arel from future violations of the federal securities laws and prohibiting him from acting as an officer or director of a public company for causing Pennichuck Corporation to make false and misleading statements in reports filed with the Commission during his tenure as CEO and a director of the company. (Rel. 34-50869; File No. 3-11773) FOUR FORMER PURCHASEPRO EXECUTIVES SETTLE FINANCIAL FRAUD CASE WITH SEC; THE FORMER PURCHASEPRO EXECUTIVES ALSO AGREE TO ENTER GUILTY PLEAS TO RELATED FEDERAL CRIMINAL CHARGES On December 15, the Commission filed a settled civil injunctive action in the United States District Court for the Eastern District of Virginia against four former executives of PurchasePro.com, Inc. for violations of the antifraud, books-and-records, internal accounting controls, periodic reporting and lying-to-auditors provisions of the federal securities laws. According to the complaint, the defendants—R. Geoffrey Layne, James S. Sholeff, Dale Boeth, and Shawn McGhee—participated in a fraudulent scheme to artificially inflate the first quarter 2001 (Q1 2001) revenues of PurchasePro.com, Inc., a Las Vegas-based Internet company now known as Pro-After, Inc. All four individuals, who were officers or senior employees of PurchasePro, settled the charges without admitting or denying the Commission’s allegations. The Commission’s complaint alleges that in Q1 2001 and continuing through April 2001, each defendant took knowing and deliberate steps designed to inflate PurchasePro’s revenues in contravention of generally accepted accounting principles (GAAP). In particular, the complaint alleges that, Layne, while serving as PurchasePro’s Executive Vice President, (i) entered into, and concealed the existence of, reciprocal agreements that rendered it improper to recognize $1 million in revenue from two marketplace license sales to PurchasePro customers; and (ii) took steps to make it falsely appear that a purported “Statement of Work” contract between PurchasePro and AOL, valued at $3.65 million, was executed during Q1 2001, when in fact it was never properly executed. The complaint further alleges that Boeth, PurchasePro’s Senior Vice President of Consulting Services, and Sholeff, a PurchasePro Vice President, also took steps to make it falsely appear that the Statement of Work agreement was executed during Q1 2001, and that Sholeff took similar steps with respect to a $3.7 million marketplace license sale. According to the complaint, McGhee, PurchasePro’s Chief Operating Officer during the relevant period, took steps to (i) make it falsely appear that a $3.5 million marketplace license sale had been entered into during Q1 2001; and (ii) conceal the existence of reciprocal agreements that rendered it improper to recognize any revenue from that sale. Each of these transactions had a misleading impact on the revenues announced and reported by PurchasePro. As reflected in the complaint, by including these transactions, PurchasePro artificially and materially inflated its publicly announced revenues by at least 34% and its reported revenues by over 37%. In addition, the complaint alleges that, during April 2001, Layne and Sholeff attempted to conceal their conduct by destroying certain documents. In particular, the complaint alleges that Sholeff and Layne deleted, or requested others to delete, their AOL-related emails, and that Sholeff shredded all of his AOL related documents and destroyed his laptop. The complaint further alleges that in February 2002, Layne and Sholeff lied to the Commission staff during testimony in order to conceal their fraudulent conduct. Finally, the complaint alleges that in April 2001, PurchasePro paid Layne a $200,000 retention bonus and that at or about the same time, PurchasePro paid Boeth a total of $150,000 in retention bonuses. Based on these factual allegations, the Commission charged: (i) Layne and McGhee with violating Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934 (“Exchange Act”) and Exchange Act Rules 10b-5, 13b2- 1 and 13b2-2, and with aiding and abetting PurchasePro’s violations of Exchange Act Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B), and of Exchange Act Rules 12b-20 and 13a-13; (ii) Sholeff with violating Exchange Act Sections 10(b) and 13(b)(5) and Exchange Act Rules 10b-5 and 13b2-1, and with aiding and abetting PurchasePro’s violations of Exchange Act Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B), and of Exchange Act Rules 12b-20 and 13a-13; and (iii) Boeth with violating Exchange Act Sections 10(b) and 13(b)(5) and Exchange Act Rules 10b-5, 13b2-1 and 13b2-2. Without admitting or denying the Commission’s allegations, each defendant consented to final judgments that would permanently enjoin each of them from violating the foregoing securities law provisions, and that would: (i) in the case of Layne, permanently bar him from acting as an officer or director of any public company, and order Layne to pay disgorgement of $200,000 plus prejudgment interest; (ii) in the case of Sholeff, permanently bar him from acting as an officer or director of any public company, and order Sholeff to pay a $35,000 civil penalty; (iii) in the case of Boeth, permanently bar him from acting as an officer or director of any public company, and order Boeth to pay disgorgement of $150,000 plus prejudgment interest, but waive payment, and not impose a civil penalty, based on Boeth’s demonstrated inability to pay; and (iv) in the case of McGhee, bar him for five years from serving as an officer or director of any public company. The final judgment against Layne permits him to offset his payment of disgorgement by the corresponding amount of any restitution he pays in connection with the parallel criminal proceeding described below; while the final judgment against Sholeff permits him to offset his payment of civil penalties by the corresponding amount of any criminal fine he pays in connection with that same parallel criminal proceeding. The final judgments are subject to the approval of the United States District Court. Also on December 15, in a related criminal proceeding, the United States Attorneys’ office for the Eastern District of Virginia announced that Layne, McGhee, Boeth and Sholeff have each agreed to plead guilty to single felony counts arising from the same circumstances as the Commission’s complaint. In particular, Layne will plead to a single felony count of securities fraud; McGhee and Boeth will each plead to a single felony count of conspiracy to commit securities fraud; and Sholeff will plead to a single felony count of perjury arising from false statements that Sholeff made to the SEC staff during the investigation. The Commission acknowledges the assistance of the United States Department of Justice, the United States Attorney’s Office for the Eastern District of Virginia, and the Federal Bureau of Investigation in the investigation of this matter. The Commission’s investigation is continuing. [SEC v. R. Geoffrey Layne, James Sholeff, Dale Boeth, and Shawn McGhee, C.A. No. 04-1500 (E.D. Va)] (LR-18999) SEC SUES DAVID LESLIE FOR FRAUDULENT WASH SALES AND FREE-RIDING SCHEMES On December 15, the Commission filed a settled federal court action in the United States District Court for the District of Columbia against David James Leslie, a resident of Marietta, Ga., alleging that Leslie engaged in two fraudulent trading schemes. The complaint alleges that in the first scheme, Leslie executed over 200 wash sales or matched orders in at least four different stocks between various brokerage accounts that he controlled. As alleged in the complaint, Leslie placed near-simultaneous matching limit orders to buy and sell the same security in two of the accounts that he controlled. These matching limit orders were often placed at prices that were away from the existing market price. Leslie was able to match up his orders at artificial prices by choosing relatively illiquid stocks and by trading those stocks in the less liquid after-hours market using the Instinet ECN. Leslie’s trading operated as a fraud or deceit upon the market because the wash sales, along with the contrived prices at which they were traded, were reported to the market and thereby created a false appearance of market activity, and did not accurately reflect the supply and demand for the stocks he was trading. In the second scheme, the complaint alleges that Leslie engaged in an unlawful “free-riding” scheme, in which he induced his broker to unwittingly assume the risks of his trading by misrepresenting or concealing the material fact that he was financing purchases in his cash account with the anticipated proceeds from the sale of the very same securities. In so doing, Leslie violated the federal securities laws (Regulation X) by willfully causing his broker to extend him credit in violation of the federal securities laws (Regulation T), because he obtained, received, and enjoyed the beneficial use of extensions of credit for the purpose of purchasing and carrying securities: (1) without there being sufficient funds in his cash account and without his intending in good faith promptly to make full cash payment in his relevant cash account when payment was due; and (2) by placing sell orders for such securities prior to making payment for the purchase of said securities. Simultaneously with the filing of the complaint, Leslie consented, without admitting or denying the allegations of the Commission’s complaint, to the entry of a final judgment that: (i) permanently enjoins him from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, Section 7(f) of the Exchange Act and Regulation X promulgated by the Federal Reserve Board, and (ii) requires him to pay a civil penalty in the amount of $30,000. [SEC v. David James Leslie, Civil Action No. 04 CV 2166, RMU, D.D.C.] (LR-19000) INVESTMENT COMPANY ACT RELEASES IDS LIFE SERIES FUND, INC. An order has been issued under Section 8(f) of the Investment Company Act declaring that IDS Life Series Fund, Inc. has ceased to be an investment company. (Rel. IC-26694 – December 15) ALLSTATE LIFE INSURANCE COMPANY, ET AL. An order has been issued on an application filed by Allstate Life Insurance Company, et al. for an order of exemption pursuant to Section 17(b) of the Investment Company Act from Section 17(a) of the Act. (Rel. IC-26695 - December 15) HOLDING COMPANY ACT RELEASES ALLEGHENY ENERGY, INC., ET AL. A supplemental order has been issued authorizing Allegheny Energy, Inc. (Allegheny), a registered holding company; Allegheny Energy Supply Company, LLC, a registered holding company and public-utility subsidiary of Allegheny; Allegheny's wholly-owned public-utility subsidiaries, Monongahela Power Company, Mountaineer Gas Company, The Potomac Edison Company, West Penn Power Company, and Allegheny Generating Company; and the Allegheny system service company, Allegheny Energy Service Corporation, to continue the Allegheny system money pool through April 30, 2005. (Rel. 35-27922) ALLEGHENY ENERGY, INC. An order has been issued authorizing Allegheny Energy, Inc., a registered holding company under the Act, to sell a nine percent ownership interest in Ohio Valley Electric Corporation. (Rel. 35-27923) AMERICAN ELECTRIC POWER COMPANY, INC. AND AEP TEXAS CENTRAL COMPANY A notice has been issued giving interested persons until Jan. 7, 2005, to request a hearing on a proposal by American Electric Power Company, Inc. (AEP), a registered holding company, and AEP Texas Central Company (TCC), an indirect public utility subsidiary of AEP (together Declarants). Declarants request authority for TCC to sell its ownership interests in a 690 Megawatt generation facility located in Wilbarger County, Texas, to non-affiliated-third parties. (Rel. 35-27924) SELF-REGULATORY ORGANIZATIONS IMMEDIATE EFFECTIVENESS OF PROPOSED RULE CHANGE A proposed rule change (SR-NASD-2004-150) filed by The Nasdaq Stock Market, a subsidiary of NASD, relating to an Interpretation of Rule 3350, on short sales, has become effective under Section 19(b)(3)(A) of the Securities Exchange Act of 1934. Publication of the proposed rule change is expected in the Federal Register during the week of December 20. (Rel. 34-50862) APPROVAL OF PROPOSED RULE CHANGE The Commission approved a proposed rule change (SR-CBOE-2004-50) filed by the Chicago Board Options Exchange under Section 19(b)(1) of the Securities Exchange Act of 1934 to amend its rules regarding limitations on Designated Primary Market-Makers putting into effect stop and stop- limit orders. (Rel. 34-50853) WITHDRAWAL An order has been issued granting the application of Aberdeen Global Income Fund, Inc., to withdraw its common stock, $.oo1 par value, from listing and registration on the New York Stock Exchange, effective at the opening of business on December 16. (Rel. 34-50863) JOINT INDUSTRY PLAN - ORDER GRANTING SUMMARY EFFECTIVENESS TO REQUEST FOR PLAN EXTENSION AND CERTAIN EXEMPTIVE RELIEF A request to extend the effectiveness of the Joint Self-Regulatory Organization Plan Governing the Collection, Consolidation and Dissemination of Quotation and Transaction Information for Nasdaq-Listed Securities Traded on Exchanges on an Unlisted Trading Privilege Basis Submitted by the Pacific Exchange, Inc., the National Association of Securities Dealers, Inc., the American Stock Exchange LLC, the Boston Stock Exchange, Inc., the Chicago Stock Exchange, Inc., the Cincinnati Stock Exchange, Inc., and the Philadelphia Stock Exchange, Inc. (File No. S7-24-89) ("Nasdaq UTP Plan") and to extend certain exemptive relief has been summarily put into effect by the Commission. Publication of order is expected in the Federal Register during the week of December 20. (Rel. 34-50855) SECURITIES ACT REGISTRATIONS The following registration statements have been filed with the SEC under the Securities Act of 1933. The reported information appears as follows: Form, Name, Address and Phone Number (if available) of the issuer of the security; Title and the number and/or face amount of the securities being offered; Name of the managing underwriter or depositor (if applicable); File number and date filed; Assigned Branch; and a designation if the statement is a New Issue. Registration statements may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . SB-2 AMERICAN WATER STAR INC, 4560 S. DECATUR, SUITE 301, LAS VEGAS, NV, 89103, 702-740-7036 - 14,071,052 ($8,317,697.04) Equity, (File 333-121257 - Dec. 15) (BR. 02) S-3 TARRAGON CORP, 3100 MONTICELLO AVE, STE 200, DALLAS, TX, 75205, 2145992200 - 0 ($62,180,000.00) Debt Convertible into Equity, (File 333-121258 - Dec. 15) (BR. 08) S-4 DEX MEDIA WEST FINANCE CO, 300,000,000 ($300,000,000.00) Non-Convertible Debt, (File 333-121259 - Dec. 15) (BR. 05) F-10 PARAMOUNT RESOURCES LTD, 4700 BANKERS HALL WEST, 888-3RD STREET, CALGARY, A1, 00000, 0 ($50,000,000.00) Non-Convertible Debt, (File 333-121260 - Dec. 15) (BR. 04) S-8 TREND MICRO INC, SHINJUKU MAYNDS TOWER,, 1-1, YOYOGI 2-CHOME, SHIBUYA-KU, TOKYO, M0, 151-0053, 011-81-3-5334-4899 - 689,000 ($33,485,400.00) Equity, (File 333-121261 - Dec. 15) (BR. 03) S-8 AIR PRODUCTS & CHEMICALS INC /DE/, 7201 HAMILTON BLVD, ALLENTOWN, PA, 18195-1501, 6104814911 - 0 ($35,495,715.66) Equity, (File 333-121262 - Dec. 15) (BR. 06) S-B QUEENSLAND TREASURY CORP, LEVEL 14 61 MARY STREET, GPO BOX 1096, BRISBANE QUEENSLAND, C3, 4001, 61738424600 - 0 ($2,000,000,000.00) Non-Convertible Debt, (File 333-121263 - Dec. 15) (BR. DN) F-9 TRANSCANADA PIPELINES LTD, 450 I STREET SW, P O BOX 1000 STATION M, CALGARY ALBERTA, A0, T2P 5H1, 4039207669 - 0 ($1,000,000,000.00) Other, (File 333-121265 - Dec. 15) (BR. 02) S-8 INTERMOUNTAIN COMMUNITY BANCORP, PO BOX 967, SANDPOINT, ID, 83864, 206-263-0505 - 0 ($624,201.00) Equity, (File 333-121266 - Dec. 15) (BR. 07) S-8 DARK DYNAMITE, INC, 63 WEST 100 SOUTH, SECOND FLOOR STUDIO, SALT LAKE CITY, UT, 84101, 801-575-8073 - 50,000,000 ($1,350.00) Equity, (File 333-121267 - Dec. 15) (BR. 02) S-8 NEXIA HOLDINGS INC, 268 WEST 400 SOUTH, STE 300, SALT LAKE CITY, UT, 84101, 8015758073 - 2,000,000 ($400,000.00) Equity, (File 333-121268 - Dec. 15) (BR. 09) S-8 NEXIA HOLDINGS INC, 268 WEST 400 SOUTH, STE 300, SALT LAKE CITY, UT, 84101, 8015758073 - 0 ($400,000.00) Equity, (File 333-121269 - Dec. 15) (BR. 09) S-8 QT 5 INC, 5655 LINDERO CANYON ROAD, SUITE 120, WESTLAKE VILLAGE, CA, 91362, (866) 508-8378 - 1,000,000 ($45,000.00) Equity, (File 333-121271 - Dec. 15) (BR. 01) S-4 SOURCE ENERGY CORP /UT/, 7412 ROSALIND CIRCLE, SUITE 620, SALT LAKE CITY, UT, 84121, 801-943-5490 - 30,100,000 ($103,092,500.00) Equity, (File 333-121272 - Dec. 15) (BR. 04) S-8 LOWRANCE ELECTRONICS INC, 12000 E SKELLY DR, TULSA, OK, 74128, 9184376881 - 0 ($3,587,296.52) Equity, (File 333-121273 - Dec. 15) (BR. 05) S-8 PIXELWORKS INC, 7700 SW MOHAWK, TUALATIN, OR, 97062, 0 ($17,640,000.00) Equity, (File 333-121274 - Dec. 15) (BR. 36) S-8 BALDWIN TECHNOLOGY CO INC, 12 COMMERCE DRIVE, SHELTON, CT, 06484, 2034021000 - 0 ($3,176,420.00) Equity, (File 333-121275 - Dec. 15) (BR. 36) S-8 SAPPI LTD, 48 AMESHOFF ST, BRAAMFONTEIN, JOHANNESBURG, T3, 2017, 3,000,000 ($40,671,316.48) Equity, (File 333-121276 - Dec. 15) (BR. 04) S-8 ALLEGHENY TECHNOLOGIES INC, 1000 SIX PPG PLACE, PITTSBURGH, PA, 15222, 4123942800 - 0 ($39,539,000.00) Equity, (File 333-121277 - Dec. 15) (BR. 06) S-8 CONCUR TECHNOLOGIES INC, 6222 185TH AVE NE, REDMOND, WA, 98052, 4257028808 - 0 ($14,161,400.00) Equity, (File 333-121278 - Dec. 15) (BR. 03) S-8 ORIGEN FINANCIAL INC, 27777 FRANKLIN ROAD, SUITE 1700, SOUTHFIELD, MI, 48034, 248-746-7000 - 0 ($9,105,176.00) Equity, (File 333-121279 - Dec. 15) (BR. 08) S-8 COMMUNITY HEALTH SYSTEMS INC, 155 FRANKLIN RD, STE 400, BRENTWOOD, TN, 37027, 6153739600 - 150,000 ($4,162,500.00) Equity, (File 333-121282 - Dec. 15) (BR. 01) S-8 COMMUNITY HEALTH SYSTEMS INC, 155 FRANKLIN RD, STE 400, BRENTWOOD, TN, 37027, 6153739600 - 1,000,000 ($27,750,000.00) Equity, (File 333-121283 - Dec. 15) (BR. 01) S-8 CONEXANT SYSTEMS INC, 4000 MACARTHUR BLVD. K10-171, NEWPORT BEACH, CA, 92660-3095, 9494839920 - 351,192 ($653,218.00) Equity, (File 333-121284 - Dec. 15) (BR. 36) S-8 CONEXANT SYSTEMS INC, 4000 MACARTHUR BLVD. K10-171, NEWPORT BEACH, CA, 92660-3095, 9494839920 - 2,500,000 ($4,650,000.00) Equity, (File 333-121285 - Dec. 15) (BR. 36) S-8 CONEXANT SYSTEMS INC, 4000 MACARTHUR BLVD. K10-171, NEWPORT BEACH, CA, 92660-3095, 9494839920 - 5,626,750 ($10,465,755.00) Equity, (File 333-121286 - Dec. 15) (BR. 36) S-8 GLOBETEL COMMUNICATIONS CORP, 444 BRICKELL AVE SUITE 522, MIAMI, FL, 33131, 3055799922 - 2,696,500 ($226,506.00) Other, (File 333-121287 - Dec. 15) (BR. 37) SB-2 ERXSYS INC, 18662 MACARTHUR BLVD., SUITE #200-15, IRVINE, CA, 92612, 949-440-3253 - 11,087,625 ($3,104,535.00) Equity, (File 333-121288 - Dec. 15) (BR. 08) S-8 PINNACLE RESOURCES INC, 9600 E. ARAPAHOE ROAD, SUITE 260, ENGLEWOOD, CO, 80112, 3037058600 - 1,500,000 ($120,000.00) Equity, (File 333-121289 - Dec. 15) (BR. 07) F-6 RANDGOLD & EXPLORATION CO LTD, PO BOX 82291, SOUTHDALE 2135 SOUTH, T3, 00000, 25,000,000 ($1,250,000.00) ADRs/ADSs, (File 333-121290 - Dec. 15) (BR. 04) S-2 VOXWARE INC, 168 FRANKLIN CORNER RD, LAWRENCEVILLE, NJ, 08648, 6095144100 - 0 ($16,881,101.00) Equity, (File 333-121291 - Dec. 15) (BR. 03) S-8 EUROBANCSHARES INC, 1,882,864 ($40,349,775.00) Equity, (File 333-121293 - Dec. 15) (BR. 07) S-8 HouseValues, Inc., 15 LAKE BELLEVUE, SUITE 202, BELLEVUE, WA, 98005, (425) 454-0088 - 0 ($54,705,225.30) Equity, (File 333-121294 - Dec. 15) (BR. 08) S-3 CSFB ASSET REPACKAGING DEPOSITOR LLC, ELEVEN MADISON AVENUE, NEW YORK, NY, 10010, 212-325-2000 - 1,000,000 ($1,000,000.00) Other, (File 333-121295 - Dec. 15) (BR. ) S-8 International Development Corp, 30 DENVER CRESCENT, SUITE 200, TORONTO, A6, M2J 1G8, 4164900254 - 0 ($13,750,000.00) Equity, (File 333-121296 - Dec. 15) (BR. 06) S-3 DISCOVERY LABORATORIES INC /DE/, 350 MAIN STREET SUITE 307, DOYLESTOWN, PA, 18901, 2152404699 - 0 ($7,212,250.00) Equity, (File 333-121297 - Dec. 15) (BR. 01) S-3 QUADRAMED CORP, 12110 SUNSET HILLS ROAD, SUITE 600, RESTON, VA, 20190, 7037092300 - 0 ($100,000,000.00) Equity, (File 333-121298 - Dec. 15) (BR. 03) S-3 INSIGNIA SOLUTIONS PLC, 5103603700 - 0 ($3,477,558.90) Equity, (File 333-121299 - Dec. 15) (BR. 03) S-8 SAPPI LTD, 48 AMESHOFF ST, BRAAMFONTEIN, JOHANNESBURG, T3, 2017, 250,000 ($3,450,305.14) Equity, (File 333-121300 - Dec. 15) (BR. 04) SB-2 LEXINGTON RESOURCES INC, 7473 WEST LAKE MEAD RD, LAS VEGAS, NV, 89128, 702-382-5139 - 6,034,564 ($6,497,862.44) Other, (File 333-121301 - Dec. 15) (BR. 04) S-8 FLEXTRONICS INTERNATIONAL LTD, 0654495255 - 0 ($54,560,000.00) Equity, (File 333-121302 - Dec. 15) (BR. 36) S-3 GENITOPE CORP, 525 PENOBSCOT DR, REDWOOD CITY, CA, 94063, 6504822000 - 0 ($63,622,500.00) Equity, (File 333-121303 - Dec. 15) (BR. 01) S-3 AMERICAN HOME MORTGAGE INVESTMENT CORP, 0 ($750,000,000.00) Unallocated (Universal) Shelf, (File 333-121304 - Dec. 15) (BR. 08) S-8 MT ULTIMATE HEALTHCARE CORP, 45 MAIN STREET, SUITE 617, BROOKLYN, NY, 11201, 718-243-0715 - 12,000,000 ($2,400,000.00) Equity, (File 333-121305 - Dec. 15) (BR. 01) RECENT 8K FILINGS Form 8-K is used by companies to file current reports on the following events: 1.01 Entry into a Material Definitive Agreement 1.02 Termination of a Material Definitive Agreement 1.03 Bankruptcy or Receivership 2.01 Completion of Acquisition or Disposition of Assets 2.02 Results of Operations and Financial Condition 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off- Balance Sheet Arrangement of a Registrant 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation under an Off- Balance Sheet Arrangement 2.05 Cost Associated with Exit or Disposal Activities 2.06 Material Impairments 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing 3.02 Unregistered Sales of Equity Securities 3.03 Material Modifications to Rights of Security Holders 4.01 Changes in Registrant’s Certifying Accountant 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review 5.01 Changes in Control of Registrant 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year 5.04 Temporary Suspension of Trading Under Registrant's Employee Benefit Plans 5.05 Amendments to the Registrant’s Code of Ethics, or Waiver of a Provision of the Code of Ethics 7.01 Regulation FD Disclosure 8.01 Other Events 9.01 Financial Statements and Exhibits 8-K reports may be obtained in person or by writing to the Commission's Public Reference Branch at 450 Fifth Street, N.W., Washington, D.C. 20549 or at the following e-mail box address: . In most cases, this information is also available on the Commission's website: . STATE 8K ITEM NO. NAME OF ISSUER CODE DATE COMMENT 8X8 INC /DE/ DE 3.02 12/10/04 A C MOORE ARTS & CRAFTS INC PA 1.01 08/27/04 A.I. RECEIVABLES TRANSFER CORP. 9.01 12/15/04 A21 INC TX 5.02 12/10/04 AAIPHARMA INC DE 2.03 12/09/04 ABAXIS INC CA 8.01,9.01 12/15/04 ABBOTT LABORATORIES IL 1.01,9.01 12/10/04 ABGENIX INC DE 8.01,9.01 12/14/04 ADVANCE FINANCIAL BANCORP DE 8.01,9.01 12/14/04 ADVANCED DIGITAL INFORMATION CORP WA 2.02,9.01 12/09/04 ADVANCED MATERIALS GROUP INC NV 8.01 12/15/04 AEOLUS PHARMACEUTICALS, INC. DE 1.01,9.01 12/13/04 AES CORPORATION DE 1.01,1.02 12/14/04 AFP IMAGING CORP NY 5.03,9.01 12/10/04 AIR T INC DE 5.02 12/10/04 AIRGATE PCS INC /DE/ DE 2.02,9.01 12/14/04 ALLIED CAPITAL CORP MD 2.02 12/14/04 ALLIED CAPITAL CORP MD 5.03,9.01 12/10/04 ALPENA BANCSHARES INC 8.01,9.01 12/14/04 AMB PROPERTY CORP MD 1.01,9.01 12/09/04 AMB PROPERTY LP DE 1.01,9.01 12/09/04 AMEREN CORP MO 5.02,8.01 12/15/04 AMERICAN ASSET MANAGEMENT CORP NJ 5.02 12/14/04 AMERICAN EXPRESS CREDIT ACCOUNT MASTE DE 8.01,9.01 12/15/04 AMERICAN EXPRESS MASTER TRUST DE 8.01,9.01 12/15/04 AMERICREDIT CORP TX 1.01,9.01 12/13/04 ANDREA ELECTRONICS CORP NY 7.01,9.01 12/15/04 ANTIGENICS INC /DE/ DE 1.01,9.01 12/08/04 APHTON CORP DE 1.01,3.02,7.01,8.01,9.01 12/14/04 APPLEBEES INTERNATIONAL INC DE 1.01,9.01 12/09/04 APPLIANCE RECYCLING CENTERS OF AMERIC MN 2.02,9.01 12/14/04 APPLIED NEUROSOLUTIONS INC DE 1.01 12/13/04 ARMANINO FOODS OF DISTINCTION INC /CO CO 5.02 12/10/04 ATRIUM COMPANIES INC DE 8.01 12/14/04 AUTODESK INC DE 1.01 12/09/04 AVANIR PHARMACEUTICALS CA 2.02,9.01 12/14/04 AXIS CAPITAL HOLDINGS LTD 1.01,9.01 12/09/04 BA MASTER CREDIT CARD TRUST / 9.01 09/15/04 BANC OF AMERICA COMM MORT INC PASS TH DE 9.01 12/10/04 BANC OF AMERICA COMMERCIAL MORT PASS DE 8.01,9.01 12/10/04 Banc of America Commercial Mort. Pass DE 8.01,9.01 12/10/04 Banc of America Commercial Mort. Pass DE 9.01 12/10/04 Banc of America Commercial Mortgage P DE 8.01,9.01 12/10/04 BANC OF AMERICA MORTGAGE SECURITIES I DE 8.01,9.01 12/14/04 BANC OF AMERICA MORTGAGE SECURITIES I DE 8.01,9.01 12/15/04 Bear Stearns ARM Trust 2004-10 DE 9.01 12/15/04 BEAR STEARNS ARM TRUST, MORTGAGE PASS DE 9.01 11/30/04 BEAR STEARNS ASSET BACKED SECURITIES DE 9.01 11/30/04 BEAR STEARNS ASSET BACKED SECURITIES DE 9.01 12/13/04 Bear Stearns BSALTA 2004-12 DE 8.01,9.01 11/30/04 BEAR STEARNS COMMERCIAL MORTGAGE SEC DE 8.01,9.01 12/13/04 BED BATH & BEYOND INC NY 2.02,9.01 12/15/04 BERKSHIRE INCOME REALTY INC 9.01 12/09/04 BEST BUY CO INC MN 2.02,9.01 12/15/04 BILL BARRETT CORP 1.01,7.01,9.01 12/09/04 BIO IMAGING TECHNOLOGIES INC DE 1.01,9.01 12/10/04 BIO KEY INTERNATIONAL INC MN 9.01 09/29/04 AMEND BIOGEN IDEC INC DE 1.01 12/02/04 BIOMET INC IN 2.02 12/15/04 BJ SERVICES CO DE 1.01 12/09/04 BLACK & DECKER CORP MD 1.01,9.01 12/09/04 BLYTH INC DE 1.01 12/10/04 BURLINGTON NORTHERN SANTA FE CORP DE 1.01,9.01 12/09/04 BUTLER NATIONAL CORP DE 2.02,9.01 09/15/04 CABCO SERIES 2004-102 TRUST (SBC COMM DE 8.01,9.01 12/15/04 CABOT MICROELECTRONICS CORP DE 5.02 12/10/04 CADENCE DESIGN SYSTEMS INC DE 1.01,9.01 12/13/04 CALPROP CORP CA 5.02 12/14/04 CAPITAL AUTO RECEIVABLES INC DE 8.01,9.01 12/15/04 CAPITAL LEASE FUNDING INC 1.01,2.03,9.01 12/15/04 AMEND CARDIODYNAMICS INTERNATIONAL CORP CA 8.01 12/15/04 CarMax Auto Owner Trust 2004-1 DE 9.01 12/15/04 CarMax Auto Owner Trust 2004-2 DE 9.01 12/15/04 CARMIKE CINEMAS INC DE 5.02 12/10/04 CASEYS GENERAL STORES INC IA 7.01 12/15/04 CATERPILLAR FINANCIAL SERVICES CORP DE 5.02 12/15/04 CCFNB BANCORP INC PA 1.01,9.01 12/14/04 CE GENERATION LLC DE 2.06 12/15/04 CENTERPOINT PROPERTIES TRUST MD 1.01,5.03,9.01 12/09/04 CENTRAL GARDEN & PET COMPANY DE 1.01 12/09/04 CERADYNE INC DE 9.01 12/14/04 CERIDIAN CORP /DE/ DE 1.01,5.02,9.01 12/15/04 CHARLES RIVER ASSOCIATES INC MA 1.01,3.03,9.01 12/14/04 CHARTER COMMUNICATIONS INC /MO/ DE 5.03,9.01 12/14/04 CHASE MANHATTAN BANK USA DE 8.01,9.01 12/10/04 CHASE MANHATTAN BANK USA DE 8.01,9.01 12/15/04 CHASE MANHATTAN BANK USA DE 9.01 12/15/04 CHASE MANHATTAN BANK USA DE 8.01,9.01 12/15/04 CHENIERE ENERGY INC DE 8.01,9.01 12/15/04 CHINA EDUCATION ALLIANCE INC. NC 2.01,8.01 11/13/04 CHINA ENERGY VENTURES CORP NV 2.01,5.03,9.01 12/09/04 CHS INC MN 5.02,5.03,9.01 12/10/04 CIGNA CORP DE 7.01 12/15/04 CINERGY CORP DE 5.02 12/09/04 CITIBANK CREDIT CARD ISSUANCE TRUST DE 8.01 11/24/04 CITIBANK OMNI-S MASTER TRUST 8.01,9.01 12/15/04 CITIBANK SOUTH DAKOTA N A DE 8.01 11/24/04 CITIZENS INC CO 2.01,2.03,9.01 10/01/04 AMEND CLARCOR INC DE 1.01 12/13/04 CLAYTON WILLIAMS ENERGY INC /DE DE 7.01,9.01 12/13/04 COHERENT INC DE 8.01,9.01 12/15/04 COINSTAR INC DE 8.01,9.01 12/15/04 COLLEGE LOAN CORP CA 8.01,9.01 11/30/04 COLLEGIATE PACIFIC INC DE 8.01,9.01 12/15/04 COMCAM INC DE 5.02 12/06/04 COMM 2004-LNB3 COMMERCIAL MORTGAGE PA DE 9.01 12/10/04 COMMAND SECURITY CORP NY 5.02,9.01 08/27/04 AMEND COMMERCE ENERGY GROUP INC DE 2.02,9.01 12/15/04 COMMUNITY HEALTH SYSTEMS INC DE 1.01,9.01 12/09/04 COMPASS MINERALS INTERNATIONAL INC DE 5.02,9.01 12/14/04 COMPETITIVE TECHNOLOGIES INC DE 2.02,9.01 12/13/04 COMPUCREDIT CORP GA 8.01,9.01 12/15/04 CONCORD COMMUNICATIONS INC MA 7.01,9.01 12/15/04 CONEXANT SYSTEMS INC DE 1.01,1.02,2.06,8.01,9.01 12/13/04 CONNETICS CORP DE 8.01,9.01 12/13/04 CONSOLIDATED ENERGY INC WY 7.01,9.01 12/13/04 CONSTELLATION BRANDS, INC. DE 7.01,9.01 12/14/04 Copano Energy, L.L.C. DE 1.01,9.01 12/13/04 CORRECTIONS CORP OF AMERICA MD 5.02,9.01 12/09/04 CorTS(R) Trust III For Verizon Global DE 8.01,9.01 12/01/04 COVANTA ENERGY CORP DE 8.01,9.01 12/14/04 CREATIVE VISTAS INC AZ 5.03 11/19/04 CROWN HOLDINGS INC PA 5.02,8.01 12/09/04 CSG SYSTEMS INTERNATIONAL INC DE 3.03 12/15/04 CWABS INC DE 8.01,9.01 12/13/04 CWALT INC 8.01,9.01 10/28/04 CWALT INC 8.01,9.01 10/28/04 CWALT INC 8.01,9.01 08/30/04 AMEND CWMBS INC DE 8.01,9.01 08/30/04 CWMBS INC DE 8.01,9.01 09/29/04 DANIELSON HOLDING CORP DE 8.01,9.01 12/14/04 DATATEC SYSTEMS INC DE 1.01,1.03,2.03,5.02,9.01 12/14/04 DAWSON GEOPHYSICAL CO TX 7.01,9.01 12/14/04 DERMA SCIENCES INC PA 3.02 12/10/04 DEUTSCHE COMMERCIAL MORTGAGE PASS THR DE 9.01 12/10/04 DEVELOPERS DIVERSIFIED REALTY CORP OH 8.01 12/14/04 DEVELOPERS DIVERSIFIED REALTY CORP OH 9.01 12/14/04 DEX MEDIA INC DE 8.01,9.01 12/14/04 DIGIBLUE MEDIA INC NV 1.02 12/08/04 DIGITAL RECORDERS INC NC 7.01,9.01 12/15/04 DIVIDEND CAPITAL TRUST INC MD 2.01,9.01 10/01/04 AMEND DOMINION HOMES INC OH 1.01 12/09/04 DOMINOS PIZZA INC 1.01,5.02,9.01 12/14/04 DOV PHARMACEUTICAL INC DE 7.01,8.01,9.01 12/15/04 DOWNEY FINANCIAL CORP DE 7.01,9.01 11/30/04 DRS TECHNOLOGIES INC DE 8.01,9.01 12/15/04 DRUGMAX INC NV 1.01,1.02,2.03,5.02,9.01 12/09/04 EAGLE PICHER HOLDINGS INC DE 1.01,7.01,9.01 12/09/04 EATON VANCE CORP MD 8.01,9.01 12/15/04 EDISON INTERNATIONAL CA 5.02,9.01 12/15/04 EDUCATION FUNDING CAPITAL TRUST-IV DE 8.01,9.01 12/03/04 EMPIRE DISTRICT ELECTRIC CO KS 8.01,9.01 12/13/04 ENCYSIVE PHARMACEUTICALS INC DE 8.01 12/15/04 ENDOCARE INC DE 8.01 12/06/04 ENERGAS RESOURCES INC DE 4.01 11/15/04 ENGINEERED SUPPORT SYSTEMS INC MO 2.02,9.01 12/14/04 ENSCO INTERNATIONAL INC DE 7.01,9.01 12/15/04 ENTERPRISE PRODUCTS PARTNERS L P DE 8.01,9.01 09/30/04 ENZON PHARMACEUTICALS INC DE 8.01,9.01 12/14/04 EOG RESOURCES INC DE 8.01 12/15/04 EXELIXIS INC DE 1.01,3.03,5.02,5.03,9.01 12/09/04 EZCORP INC DE 4.01,9.01 10/06/04 AMEND FAIRCHILD CORP DE 2.02,9.01 12/14/04 FARMER BROTHERS CO CA 8.01 06/30/04 FERRO CORP OH 7.01 12/13/04 FINANCIAL ASSET SECURITIES CORP DE 8.01,9.01 12/14/04 FINANCIAL FEDERAL CORP NV 8.01,9.01 12/14/04 FIRST COMMUNITY CORP /SC/ SC 9.01 10/06/04 AMEND FIRST HARTFORD CORP ME 1.01 12/09/04 FIRST OAK BROOK BANCSHARES INC DE 8.01,9.01 12/13/04 FLEET CREDIT CARD MASTER TRUST II NY 9.01 12/15/04 Ford Credit Auto Owner Trust 2004-A DE 8.01,9.01 11/30/04 Ford Credit Floorplan Master Owner Tr DE 8.01,9.01 11/30/04 FORMFACTOR INC DE 5.02 12/09/04 FREDS INC TN 1.01,9.01 12/14/04 FRESH CHOICE INC DE 4.01,9.01 12/10/04 FUELCELL ENERGY INC DE 2.02,9.01 12/13/04 FUTOMIC INDUSTRIES INC NJ 8.01 12/15/04 GATEWAY INC DE 5.04,9.01 12/14/04 GATEWAY INC DE 8.01,9.01 12/15/04 GATEWAY INC DE 2.02,9.01 12/15/04 GE COMMERCIAL MORT CORP MORT PASS-THR DE 9.01 12/10/04 GELSTAT CORP MN 8.01 12/15/04 GENENCOR INTERNATIONAL INC DE 1.01 12/10/04 GENITOPE CORP DE 1.01,3.02,9.01 12/13/04 GEORGIA PACIFIC CORP GA 2.03,9.01 12/10/04 GLADSTONE CAPITAL CORP MD 2.02,9.01 12/14/04 GLOBAL POWER EQUIPMENT GROUP INC/ DE 1.01 12/09/04 GMAC COMMERCIAL MORTGAGE PASS-THR CER DE 8.01,9.01 12/10/04 GMAC COMMERCIAL MORTGAGE SECURITIES I DE 9.01 12/10/04 GMACM HOME EQUITY LOAN TRUST 2004-HE5 DE 8.01,9.01 12/15/04 GOODYEAR TIRE & RUBBER CO /OH/ OH 1.01,2.03 12/10/04 GOVERNMENT TRUST 1 D IL 8.01 11/15/04 GOVERNMENT TRUST 2 F IL 8.01 11/15/04 GOVERNMENT TRUST 3 C IL 8.01 11/15/04 GRAINGER W W INC IL 7.01,9.01 12/15/04 GRAMERCY CAPITAL CORP MD 8.01,9.01 12/13/04 GRANT PARK FUTURES FUND LIMITED PARTN IL 7.01 12/14/04 GREAT LAKES CHEMICAL CORP DE 7.01,9.01 12/15/04 Greenwich Capital Commercial Funding 9.01 12/10/04 GS MORT SEC CORP II COMMERCIAL MORT P DE 8.01,9.01 12/10/04 GS MORT SEC CORP II COMMERCIAL MORT P DE 9.01 12/10/04 GTC BIOTHERAPEUTICS INC MA 1.01,5.02 12/09/04 GYMBOREE CORP DE 5.02,9.01 12/13/04 HAIGHTS CROSS COMMUNICATIONS INC DE 1.01,2.03,9.01 12/10/04 HALLIBURTON CO DE 1.01,9.01 12/10/04 HALLWOOD GROUP INC DE 8.01 12/15/04 HARLEY DAVIDSON INC WI 1.01 12/09/04 HARVEST NATURAL RESOURCES INC DE 2.02,9.01 12/14/04 HAYES LEMMERZ INTERNATIONAL INC DE 1.01,2.03,9.01 12/09/04 HEALTH DISCOVERY CORP TX 8.01 12/15/04 HEI INC MN 2.02,9.01 12/14/04 HEICO CORP FL 2.02,9.01 12/15/04 HEILIG MEYERS CO VA 8.01 10/31/04 HELMERICH & PAYNE INC DE 7.01,9.01 12/15/04 HERLEY INDUSTRIES INC /NEW DE 2.02 10/31/04 HOLLINGER INTERNATIONAL INC DE 8.01,9.01 08/30/04 AMEND HOME PRODUCTS INTERNATIONAL INC DE 1.01,3.01,3.02,5.01,5.02,5.03 12/13/04 HOMESTORE INC DE 1.02 12/09/04 HOUSE OF BRUSSELS CHOCOLATES INC NV 4.01,9.01 12/15/04 HOUSEHOLD FINANCE CORP DE 8.01,9.01 12/15/04 HOUSEHOLD INTERNATIONAL INC DE 8.01,9.01 12/15/04 HOUSTON OPERATING CO DE 2.01,3.02,5.01,5.02,9.01 12/15/04 HUDSON TECHNOLOGIES INC /NY NY 1.01 12/09/04 HUMATECH INC IL 3.02 12/09/04 HUNT J B TRANSPORT SERVICES INC AR 8.01,9.01 12/14/04 HY TECH TECHNOLOGY GROUP INC NV 8.01 12/09/04 HYTHIAM INC DE 3.02,7.01,9.01 12/15/04 IBERIABANK CORP LA 1.01,9.01 12/13/04 IDEX CORP /DE/ DE 2.03 12/15/04 ILX RESORTS INC AZ 3.02 12/13/04 IMPRESO INC DE 2.02,9.01 12/15/04 INDEPENDENT BANK CORP MI 1.01,8.01 12/09/04 INDEVUS PHARMACEUTICALS INC DE 2.02,4.02,9.01 12/14/04 INDIGENOUS GLOBAL DEVELOPMENT CORP UT 4.01,9.01 12/06/04 IndyMac INDX Mortgage Loan Trust 2004 8.01 08/25/04 IndyMac INDX Mortgage Loan Trust 2004 8.01 09/27/04 IndyMac INDX Mortgage Loan Trust 2004 8.01 10/25/04 IndyMac INDX Mortgage Loan Trust 2004 8.01 11/26/04 IndyMac Residential Asset Securitizat 8.01 08/25/04 IndyMac Residential Asset Securitizat 8.01 09/27/04 IndyMac Residential Asset Securitizat 8.01 10/25/04 IndyMac Residential Asset Securitizat 8.01 11/26/04 INERGY L P DE 2.01,9.01 12/13/04 INERGY L P DE 7.01 12/14/04 INFOSPACE INC DE 8.01,9.01 12/15/04 INNSUITES HOSPITALITY TRUST OH 5.02 12/09/04 INTEGRA LIFESCIENCES HOLDINGS CORP DE 8.01 12/14/04 INTERNET COMMERCE CORP DE 2.02,9.01 12/14/04 INTROGEN THERAPEUTICS INC 8.01,9.01 12/09/04 ISTA PHARMACEUTICALS INC CA 5.03,9.01 12/10/04 IVANHOE ENERGY INC 1.01,3.02,8.01,9.01 12/11/04 J JILL GROUP INC DE 1.01,5.02,9.01 12/10/04 KAISER GROUP HOLDINGS INC DE 8.01,9.01 12/15/04 KB HOME DE 8.01,9.01 12/15/04 KIRKLANDS INC 4.02 12/08/04 KNIGHT TRADING GROUP INC DE 2.01,9.01 12/15/04 KNUSAGA CORP DE 2.01,2.05 12/15/04 KROGER CO OH 1.01 12/10/04 AMEND LABORATORY CORP OF AMERICA HOLDINGS DE 1.01 12/14/04 LAMAR ADVERTISING CO/NEW DE 1.01 12/09/04 LAND O LAKES INC 5.02,9.01 12/15/04 LANDMARK LAND CO INC/DE DE 2.01,9.01 10/01/04 AMEND LARGE SCALE BIOLOGY CORP DE 8.01 12/09/04 LEAR CORP /DE/ DE 8.01 12/15/04 LEHMAN BROTHERS HOLDINGS INC DE 2.02,9.01 12/15/04 LENNAR CORP /NEW/ DE 2.02,9.01 12/15/04 LEVI STRAUSS & CO DE 1.01 12/15/04 LEVI STRAUSS & CO DE 8.01,9.01 12/15/04 LEVI STRAUSS & CO DE 8.01,9.01 12/15/04 LFG International, Inc. NV 5.02 12/11/04 LIBERTY MINT LTD CO 5.01,5.02 12/15/04 LIFELINE SYSTEMS CO MA 5.03 12/09/04 Lifeline Systems, Inc. MA 1.01,3.03,5.03,9.01 12/09/04 LIFESTREAM TECHNOLOGIES INC NV 8.01,9.01 12/15/04 LINCOLN NATIONAL CORP IN 1.01,2.03 12/10/04 LNR PROPERTY CORP DE 8.01 12/15/04 LONG BEACH ACCEPTANCE CORP 2.01,9.01 12/14/04 LONG BEACH ACCEPTANCE CORP AUTO RECEI 8.01,9.01 12/15/04 Long Beach Acceptance Corp. Auto Rece 8.01,9.01 12/15/04 LUBRIZOL CORP OH 1.01,1.02,5.02,9.01 12/13/04 MAGELLAN MIDSTREAM PARTNERS LP DE 5.02 12/14/04 MARSH & MCLENNAN COMPANIES INC DE 1.01,2.03,9.01 12/15/04 MAY DEPARTMENT STORES CO DE 7.01,9.01 12/15/04 MBNA AMERICA BK NAT ASSOC MBNA MASTER 9.01 11/30/04 MBNA AMERICA BK NAT ASSOC MBNA MASTER 8.01,9.01 11/30/04 MBNA CORP MD 8.01 11/30/04 MCLEODUSA INC DE 5.02,9.01 12/14/04 MDC HOLDINGS INC DE 8.01,9.01 12/14/04 MEDALLION CREST MANAGEMENT INC FL 9.01 12/09/04 AMEND MEDAREX INC NJ 8.01,9.01 12/15/04 MERCANTILE BANK CORP MI 1.01,2.03,9.01 12/10/04 MERCURY AIR GROUP INC NY 5.02,9.01 12/09/04 MERRILL LYNCH MORTGAGE INVESTORS INC DE 8.01,9.01 12/13/04 MERRILL LYNCH MORTGAGE INVESTORS TRUS DE 8.01,9.01 12/15/04 MERRILL LYNCH MORTGAGE INVESTORS TRUS DE 2.01,9.01 11/30/04 METRIS MASTER TRUST DE 8.01,9.01 11/30/04 METRIS RECEIVABLES INC DE 8.01,9.01 11/30/04 METROPCS COMMUNICATIONS INC 5.02 12/13/04 METROPOLITAN HEALTH NETWORKS INC FL 5.02,9.01 12/10/04 MFRI INC DE 4.02 12/10/04 MGM MIRAGE DE 7.01,9.01 12/15/04 MICROISLET INC NV 5.03,8.01,9.01 12/10/04 MICRON ENVIRO SYSTEMS INC NV 8.01 12/15/04 MICROSTRATEGY INC DE 5.02,9.01 12/09/04 MIDSOUTH BANCORP INC LA 2.01,8.01,9.01 10/01/04 AMEND MITCHAM INDUSTRIES INC TX 2.02,9.01 12/15/04 MONARCH COMMUNITY BANCORP INC MD 1.01,5.02,9.01 12/09/04 MONMOUTH CAPITAL CORP NJ 8.01 12/15/04 MORGAN STANLEY ABS CAPITAL I INC DE 8.01,9.01 12/13/04 MOSCOW CABLECOM CORP DE 8.01,9.01 12/15/04 MOVIE STAR INC /NY/ NY 1.01,3.02,9.01 12/10/04 MRO SOFTWARE INC MA 5.02 12/15/04 NAAC Alternative Loan Trust, Series 2 DE 2.01,9.01 11/30/04 NASB FINANCIAL INC MO 2.02 12/15/04 NASHUA CORP MA 1.01,2.03,9.01 12/09/04 NAVISITE INC DE 5.02,9.01 12/09/04 NBTY INC DE 5.02 12/09/04 NBTY INC DE 2.02,9.01 12/14/04 NEOMAGIC CORP DE 5.02 12/14/04 NEWFIELD EXPLORATION CO /DE/ DE 5.04 12/15/04 NEXTEL COMMUNICATIONS INC DE 8.01,9.01 12/15/04 NICOLET BANKSHARES INC WI 8.01,9.01 12/14/04 NOBLE CORP 7.01,9.01 12/15/04 NORTH COAST PARTNERS INC DE 1.01,5.01,9.01 12/13/04 NORTHSTAR REALTY 7.01,9.01 12/15/04 NORTHWEST HORIZON CORP 5.02,9.01 12/15/04 NOVELLUS SYSTEMS INC CA 8.01,9.01 12/09/04 NRG ENERGY, INC. DE 8.01,9.01 12/14/04 NYFIX INC DE 8.01,9.01 12/13/04 OCCAM NETWORKS INC/DE DE 5.02 12/14/04 OCTUS INC CA 5.02 12/14/04 OFFICEMAX INC DE 1.01,5.02,9.01 12/09/04 OLD NATIONAL BANCORP /IN/ IN 1.01,9.01 12/09/04 OLIN CORP VA 1.01 12/10/04 ON SEMICONDUCTOR CORP DE 8.01 12/15/04 ON THE GO HEALTHCARE INC DE 9.01 10/29/04 OPEN TEXT CORP K6 1.01 12/09/04 OPSWARE INC DE 8.01,9.01 12/15/04 OVERSEAS SHIPHOLDING GROUP INC DE 1.01,9.01 12/13/04 PALL CORP NY 1.01,9.01 11/17/04 Park Place Securities, Inc., Asset-Ba DE 2.01,9.01 11/18/04 PARKER DRILLING CO /DE/ DE 5.02 11/22/04 PEABODY ENERGY CORP DE 1.01 12/09/04 PENWEST PHARMACEUTICALS CO WA 1.01,3.02,8.01,9.01 12/10/04 PEOPLES BANCORP INC OH 8.01,9.01 12/15/04 PEOPLES COMMUNITY BANCORP INC /MD/ MD 2.02,9.01 12/10/04 PEOPLESOFT INC DE 1.01,3.03,9.01 12/10/04 PEP BOYS MANNY MOE & JACK PA 1.01,9.01 12/15/04 PEP BOYS MANNY MOE & JACK PA 1.01,9.01 12/15/04 PETROLEUM DEVELOPMENT CORP NV 8.01 12/14/04 PETROLEUM DEVELOPMENT CORP NV 5.02 12/15/04 PHARMION CORP 8.01 12/14/04 PHOENIX COMPANIES INC/DE DE 1.01,2.03 12/15/04 PIEDMONT NATURAL GAS CO INC NC 1.01,9.01 12/10/04 PIPER JAFFRAY COMPANIES 1.01,9.01 12/09/04 PLATO LEARNING INC DE 2.02,7.01,9.01 12/15/04 PORTEC RAIL PRODUCTS INC WV 5.02 12/15/04 PPL CORP PA 1.01,9.01 12/15/04 PREMCOR INC DE 1.01 12/13/04 PRIME RECEIVABLES CORP DE 8.01,9.01 12/15/04 PRIMESOURCE HEALTHCARE INC MA 8.01 12/15/04 PRINCIPAL LIFE INSURANCE CO IA 9.01 12/10/04 PRINCIPAL LIFE INSURANCE CO IA 9.01 12/10/04 PRINCIPAL LIFE INSURANCE CO IA 9.01 12/10/04 PROCTER & GAMBLE CO OH 8.01 12/14/04 PROFESSIONAL VETERINARY PRODUCTS LTD MO 5.02 12/10/04 PROLONG INTERNATIONAL CORP NV 1.01,2.03,9.01 11/24/04 PVC CONTAINER CORP DE 1.01 12/15/04 QUADRAMED CORP DE 2.05 12/15/04 QUANTA SERVICES INC DE 1.02 12/09/04 QUEST SOFTWARE INC CA 1.01,9.01 12/09/04 RALI Series 2004-QA2 Trust DE 8.01,9.01 11/09/04 RALI Series 2004-QA2 Trust DE 8.01,9.01 11/09/04 RAMP Series 2004-RZ2 Trust DE 8.01,9.01 11/10/04 RANGE RESOURCES CORP DE 2.01,9.01 12/10/04 RCG COMPANIES INC DE 1.01,2.01,9.01 12/09/04 REMEC INC CA 1.01,9.01 12/10/04 REMEC INC CA 4.01,9.01 09/30/04 AMEND RENEGADE VENTURE NEV CORP CO 9.01 12/14/04 AMEND RESIDENTIAL ACCREDIT LOANS INC RALI S DE 8.01,9.01 11/09/04 RESIDENTIAL ASSET MORTGAGE PRODUCTS I DE 8.01,9.01 12/15/04 RF MONOLITHICS INC /DE/ DE 8.01,9.01 12/15/04 River Rock Entertainment Authority XX 1.01,9.01 12/09/04 RIVIERA TOOL CO MI 5.02 11/12/04 ROPER INDUSTRIES INC /DE/ DE 1.01,2.01,8.01,9.01 12/13/04 ROWE COMPANIES NV 2.02,9.01 12/09/04 ROYAL GOLD INC DE 5.02 12/13/04 ROYSTER-CLARK INC DE 1.01 12/15/04 S Y BANCORP INC KY 5.02,9.01 12/14/04 SANGAMO BIOSCIENCES INC DE 8.01,9.01 12/15/04 SAXON ASSET SECURITIES CO VA 8.01 12/10/04 SAXON CAPITAL INC MD 2.02,9.01 12/15/04 SBE INC DE 7.01,9.01 10/31/04 SCANA CORP SC 8.01,9.01 12/15/04 SECURITY CAPITAL CORP/DE/ DE 3.01,9.01 12/09/04 SEI INVESTMENTS CO PA 8.01,9.01 12/14/04 SHERWOOD BRANDS INC NC 2.02,9.01 12/15/04 SI Financial Group, Inc. X1 5.04,9.01 12/13/04 SILESIA ENTERPRISES INC NV 5.02 12/13/04 SOTHEBYS HOLDINGS INC MI 1.01,8.01,9.01 12/15/04 SPRINT CORP KS 8.01,9.01 12/15/04 STANDARD REGISTER CO OH 1.01,7.01,9.01 12/13/04 STARSOFT INC NV 8.01 12/15/04 STERLING CONSTRUCTION CO INC DE 8.01 12/15/04 STONEMOR PARTNERS LP DE 5.02 12/13/04 Structured Adjustable Rate Mortgage L DE 8.01,9.01 11/30/04 STRUCTURED ASSET SECURITIES CORP DE 8.01,9.01 12/08/04 STRUCTURED ASSET SECURITIES CORP DE 8.01,9.01 12/15/04 STRUCTURED ASSET SECURITIES CORP DE 8.01 12/13/04 STRUCTURED PRODUCTS CORP CAST STEP UP DE 8.01,9.01 12/01/04 STRUCTURED PRODUCTS CORP CAST STEP UP DE 8.01,9.01 12/01/04 STRUCTURED PRODUCTS CORP CASTSM STEP DE 8.01,9.01 12/01/04 STRUCTURED PRODUCTS CORP CORTS TR FOR DE 8.01,9.01 12/01/04 STRUCTURED PRODUCTS CORP CORTS TR FOR DE 8.01,9.01 12/01/04 STRUCTURED PRODUCTS CORP CORTS TR II DE 8.01,9.01 12/01/04 STRUCTURED PRODUCTS CORP CORTS TRUST DE 8.01,9.01 12/01/04 STRUCTURED PRODUCTS CORP TIERS R INFL DE 8.01,9.01 12/01/04 SUNOCO LOGISTICS PARTNERS LP DE 8.01,9.01 12/15/04 SWS GROUP INC DE 3.01 12/09/04 SYNNEX CORP DE 1.01,9.01 12/13/04 TANOX INC DE 1.01 12/09/04 TECH DATA CORP FL 8.01,9.01 12/15/04 TELEWEST GLOBAL INC 8.01,9.01 12/15/04 TERRA TREMA INC NV 5.02 12/15/04 THERMOGENESIS CORP DE 1.01,8.01,9.01 12/13/04 TIER TECHNOLOGIES INC CA 1.01,5.02,9.01 09/02/04 TIME WARNER INC DE 8.01 12/15/04 TIMELINE INC WA 5.02 12/14/04 TL ADMINISTRATION CORP DE 7.01,9.01 12/15/04 TOREADOR RESOURCES CORP DE 7.01,9.01 12/14/04 TRANSAX INTERNATIONAL LTD CO 1.01 12/15/04 AMEND TRANSCONTINENTAL GAS PIPE LINE CORP DE 1.01,2.03,9.01 12/10/04 TRANSPRO INC DE 8.01,9.01 12/15/04 U S ENERGY SYSTEMS INC DE 1.02,5.02 12/09/04 UAL CORP /DE/ DE 8.01,9.01 12/15/04 UNITED AMERICAN HEALTHCARE CORP MI 1.01 12/15/04 UNITED DEFENSE INDUSTRIES INC DE 1.01,9.01 12/10/04 UNITED RETAIL GROUP INC/DE DE 2.02,4.02,9.01 12/08/04 UNITED RETAIL GROUP INC/DE DE 8.01,9.01 12/15/04 UNIVERSAL CITY DEVELOPMENT PARTNERS L 2.03,8.01,9.01 12/09/04 UNOCAL CORP DE 8.01 12/14/04 URANIUM RESOURCES INC /DE/ DE 3.02,7.01,9.01 12/14/04 USA TRUCK INC DE 5.02 12/09/04 USAA ACCEPTANCE LLC TRUST 2004-1 8.01,9.01 12/15/04 USAA AUTO OWNER TRUST 2004-2 8.01,9.01 12/15/04 USAA AUTO OWNER TRUST 2004-3 8.01,9.01 12/15/04 UTAH MEDICAL PRODUCTS INC UT 8.01 12/15/04 VARIAN INC DE 1.01 12/10/04 VELOCITY EXPRESS CORP DE 3.01,9.01 12/15/04 VERSANT CORP CA 2.02,9.01 12/15/04 VERTRUE INC DE 8.01,9.01 12/15/04 VIACOM INC DE 1.01,9.01 12/09/04 VIRAGE LOGIC CORP CA 1.01 12/09/04 VISX INC DE 8.01,9.01 12/15/04 VOIP INC 3.02,9.01 12/10/04 VOXWARE INC DE 5.02 12/14/04 VTEX ENERGY INC NV 8.01 12/10/04 WARREN RESOURCES INC MD 5.03,9.01 12/14/04 WELLPOINT INC IN 2.03,9.01 12/09/04 WELLS FARGO ASSET SECURITIES CORP DE 8.01,9.01 12/13/04 WELLS FARGO ASSET SECURITIES CORP DE 8.01,9.01 12/15/04 WESTERN GAS RESOURCES INC DE 2.03 12/10/04 WHITEHALL JEWELLERS INC DE 1.01 12/13/04 WHOLE AUTO LOAN TRUST 2003-1 DE 8.01,9.01 12/15/04 Whole Auto Loan Trust 2004-1 8.01,9.01 12/15/04 WHOLE FOODS MARKET INC TX 3.03,9.01 12/15/04 WILLAMETTE VALLEY VINEYARDS INC OR 3.01,4.01 12/08/04 WILLIS LEASE FINANCE CORP DE 1.01,2.03 12/15/04 WINN DIXIE STORES INC FL 1.01,1.02,2.04,5.02,9.01 12/09/04 WINNEBAGO INDUSTRIES INC IA 2.02,9.01 12/15/04 WINTRUST FINANCIAL CORP IL 8.01,9.01 12/14/04 WMS INDUSTRIES INC /DE/ DE 1.01,9.01 12/09/04 WOLVERINE WORLD WIDE INC /DE/ MI 7.01,9.01 12/15/04 WSFS FINANCIAL CORP DE 5.02,9.01 12/15/04 XCYTE THERAPIES INC WA 2.03 12/14/04 XETA TECHNOLOGIES INC OK 8.01,9.01 12/14/04 YAMAHA MOTOR RECEIVABLES CORP DE 8.01 12/15/04 YORK WATER CO PA 2.03 12/09/04