Half-yearly report

Blue Planet Financials Growth and Income Investment Trusts plc
Interim Report and Accounts
for the six months ended 30 September 2006


Registered Numbers

Blue Planet Financials Growth and Income Investment Trust No 1 plc
(Registered Number 162796)
Blue Planet Financials Growth and Income Investment Trust No 2 plc
(Registered Number 162797)
Blue Planet Financials Growth and Income Investment Trust No 3 plc
(Registered Number 162798)
Blue Planet Financials Growth and Income Investment Trust No 4 plc
(Registered Number 162799)
Blue Planet Financials Growth and Income Investment Trust No 5 plc
(Registered Number 162800)
Blue Planet Financials Growth and Income Investment Trust No 6 plc
(Registered Number 162801)
Blue Planet Financials Growth and Income Investment Trust No 7 plc
(Registered Number 162802)
Blue Planet Financials Growth and Income Investment Trust No 8 plc
(Registered Number 162803)
Blue Planet Financials Growth and Income Investment Trust No 9 plc
(Registered Number 162804)
Blue Planet Financials Growth and Income Investment Trust No 10 plc
(Registered Number 162805)

Each of the investment trusts is a separate limited company, but otherwise they are to all intents and purposes
identical.  The information contained in this Interim Report, including the financial statements, applies equally to
each of the ten Blue Planet Financials Growth and Income Investment Trusts (the "Trusts"), and reference to the
"Company" shall be deemed to be a reference to each of them.


Trading in the shares and warrants of the Trusts

The Trusts' shares and warrants can be traded in share or warrant units.  Each unit comprises 10 shares or warrants, 1
in each of the 10 trusts.  It is generally cheaper for investors to trade in the units rather than the underlying shares
or warrants.



Officers and Advisors

Directors                                       Investment Manager
Victoria W Killay (Non-Executive Chairman)      Blue Planet Investment Management Ltd
Kenneth Murray (Non-Executive)                  Greenside House
Dr Michael Shea (Non-Executive)                 25 Greenside Place
                                                Edinburgh EH1 3AA
                                                Telephone No: [phone]
                                                Facsimile No: + 44 131 466 6677
                                                e-mail: [e-mail]
                                                www.blueplanet.eu.com


Secretary and Registered Office                 Registrars
Blue Planet Investment Management Ltd           Capita Registrars
Greenside House                                 Northern House
25 Greenside Place                              Woodsome Park
Edinburgh EH1 3AA                               Fenay Bridge
Telephone No: [phone]                  Huddersfield HD8 0LA
Facsimile No: [phone]                  Shareholder Helpline No. [phone]
e-mail: [e-mail]                  e-mail: shareholder.services
www.blueplanet.eu.com                           @capitaregistrars.com
                                                www.capitaregistrars.com

Auditors                                        Bankers
Deloitte & Touche LLP                           Lloyds TSB Scotland Plc
Saltire Court                                   Henry Duncan House
20 Castle Terrace                               120 George Street
Edinburgh EH1 2DB                               Edinburgh EH2 4LH

Stockbroker                                     Custodians
Panmure Gordon (UK) Limited                     RBC Dexia Investor Services Trust
Moorgate Hall                                   71 Queen Victoria Street
155 Moorgate                                    London EC4V 4DE
London EC2M 6XB

Aic
Blue Planet Investment Management Ltd is authorised and regulated by the Financial Services Authority.
Blue Planet Financials Growth and Income Investment Trust No.1 plc is a member of the Association of Investment
Companies.




Financial Record

Investment Policy
The investment policy of the Company is to invest in securities (as defined by the Financial Services & Markets Act
2000), including shares and bonds, issued by financial companies located anywhere in the World.

Investment Objective
The investment objective of the Company is to produce a total return greater then the Bloomberg World Financials Index.


Financial Record
                             Six months ended       Six months ended          Year ended
                            30 September 2006      30 September 2005       31 March 2006

Shareholders' funds (£'000)             3,814                  2,944               3,904
Net asset value per share (p)#          28.00                  21.69               28.76
Share price (p) (Bid)#                  17.60                  14.35               19.20
Discount (%)                             37.1                   33.8                33.2
Gearing (%)*                             47.4                   35.9                46.5


Revenue available for
shareholders (£'000)#                      42                     32                   1
Revenue return per share (p)             0.31                   0.23                0.01
Dividend yield on
FTSE All Share Index (%)                 3.83                   2.99                3.35

* Net debt as a percentage of shareholders' funds

# Comparative per share data has been adjusted to reflect the 10 for 1 share split approved by shareholders on 2 August
2006.


Dividend
No interim dividend has been declared.


Capital Gains Tax
Apportionment for capital gains tax between ordinary shares and warrants based on mid-market prices on the first day of
dealings (25 April 1996) in the ordinary shares and the warrants:

Each ordinary share             95.24p
Each warrant                    23.80p





The Investment Manager

Blue Planet Investment Management Ltd is an Edinburgh based investment management Company which specialises in managing
investments in financial companies.  Its corporate philosophy is that consistent out-performance is more likely to be
achieved by specialisation than it is from the generalist approach, which currently prevails across most of the fund
management industry.

Stock markets comprise of many sectors, which are represented in general stock market indices, such as the S&P500, FTSE
All Share, FTSEurofirst 300, Nikkei 225 etc.  However, many of these sectors are in economic decline and will produce
below average returns to investors in the future.  Blue Planet believes that investors should only invest in those
sectors that have superior long-term economic prospects and, crucially, which are undervalued.  It believes that the
World's financial sector is one such sector.  By concentrating only on those sectors and by using the services of expert
fund managers who specialise in those sectors investors should maximise their likelihood of consistent out-performance.

By focusing on only one sector Blue Planet believes that it is able to develop a level of expertise and understanding of
that sector that generalist fund managers cannot.  It believes that this greater expertise and understanding will allow
it to produce better, more consistent investment returns for its clients than generalist fund managers.  It is widely
accepted in most walks of life that specialisation leads to better results than generalisation.

Blue Planet believes that in future pension funds and others will increasingly use specialist advisors to advise them
specifically and solely on the allocation of their assets across sectors and will then place the designated funds with
specialist investment managers in those sectors.  This segregation of roles and increased specialisation will, it
believes, reduce conflicts of interest and lead to better investment performance.

In addition to Blue Planet Financials Growth & Income Investment Trusts Nos. 1-10, Blue Planet Investment Management Ltd
also manages the Blue Planet Worldwide Financials Investment Trust plc, the Blue Planet European Financials Investment
Trust plc and the Blue Planet Global Financials Fund.  Details of Blue Planet's ISA, Savings Plan, investment trusts and
other products can be found on its website, www.blueplanet.eu.com.  Alternatively, they may be obtained from Blue Planet
Investment Management Ltd, Greenside House, 25 Greenside Place, Edinburgh, EH1 3AA (Tel no: [phone]).



Website Information

Please take the time to visit our website:
www.blueplanet.eu.com

If you wish to receive a monthly fact sheet on the trusts please visit:
http://www.blueplanet.eu.com/blueplanet_downloads.136.html

To download historical Annual and Interim reports and past monthly fund fact sheets:
http://www.blueplanet.eu.com/ blueplanet_downloads.124.html




Chairman's Statement

Performance
Over the six month interim period the Company's net asset value ("NAV") fell by 2.6% and in the full year to 30th
September 2006 the Company's NAV rose by 29.1%. Over both the six month and one year periods the fund has outperformed
its benchmark index, the Bloomberg Worldwide Financials Index, which fell 6% over the six month period and rose 12.5%
over the full year.

The share price rose 22.6% over the year to 17.60p (bid price) or £1.76 per Share Unit. These prices reflect the 10 for
1 share split which took place in August 2006. However the last six months performance has reflected the more
challenging market conditions during that period. The price of our Ordinary Share unit's reached a peak of £2.33 (bid
price) on the 21st February this year, just before the start of the interim period. Some equity market weakness followed
when firstly when Emerging Markets were negatively affected by rising interest rates in the major economies, especially
in the US, and then again by the widespread market downturn in May/June 2006. However during July, August and September
the Fund staged a strong recovery. The share price of your Company was more adversely affected than the NAV in the
market downturn, and the discount to NAV widened to 37.1%. As a consequence your Company's share price has fallen 8.3%
over the six month period to 30th September 2006 and the price of our Ordinary Share units ended the period at £1.76. In
October the price of our Ordinary Share units moved back above £2.00. The Board are confident that February's share
price highs will be surpassed.

The long term performance of the Blue Planet Financials Growth and Income Investment Trusts is impressive. The share
price total returns are 114.9% over the past three years against a 43.1% increase in the benchmark and 125.7% over the
past five years against a 43.3% return from the benchmark.

The Fund has remained focused on the growth available from selected emerging and developed market economies over the
past six months, and has looked primarily to Europe.

In Central and Eastern Europe ("CEE"), Russia and Poland are key markets. Our largest single holding is the Russian bank
Sberbank. This Bank has superior growth potential over the next 5 to 10 years with considerable room for efficiency
gains, that will further increase its profits. Russia itself is a country with strong economic fundamentals with GDP
growth of 7.9% in 2005 and government forecasts of a 6.6% growth in 2006.  It has vast natural resources and an
underdeveloped banking sector. There is a rapid growth in real household income and a surge in foreign direct
investment. Sberbank generated a total return of 38% over the six months period. Poland's macroeconomic indicators
continue to be strong. Its GDP growth rate is above average for Europe at 5.5%, there is only a moderate current account
deficit, inflation is low, employment is increasing and there is growth in retail sales. The Fund was invested in three
banks in Poland at the time of the last annual report, and has since invested in a fourth bank in Poland, whilst
marginally reducing its overall exposure to the country by decreasing the size of some holdings. In other parts of CEE
the Fund is invested in Raiffeisen International Bank Holding that has exposure to a wide range of markets in the CEE,
including Russia.

The Fund has also invested in South East Europe. During 2005 Turkish banks were transforming and improving
profitability, and foreign interest in the Turkish banking sector increased. Your Company invested in Finansbank A.S.,
Turkiye Garanti Bankasi A.S. and Turkiye Sinai Kalkinma Bankasi. Early in 2006 the macroeconomic situation in Turkey
started to deteriorate, consumer inflation started increasing and Turkey's current account deficit widened to 24% in
March 2006. Interest rates that had been low by historical standards in Turkey looked set to increase. In anticipation
of a downturn in Turkey the Finansbank and Turkiye Garanti investments were sold in April and May and substantial
profits were taken. Greece enjoys one of the highest growth rates in the EU. Between 1995 and 2003 Greece's sovereign
rating was increased five times by Fitch.  Your Company holds investments in Piraeus Bank S.A. and Hellenic Exchanges,
the Greek stock exchange.

In Latin America the fund retained its investments in Banco Bradesco and Nossa Caixa in Brazil throughout the interim
period, as interest rates were reduced over successive months, boosting demand for consumer loans. The fund sold its
investment in Mexico ahead of elections there.


Figure 1 shows the geographic movements of the portfolio over the six month interim reporting period.  The fund has
invested in Banca Intesa in Italy and benefited from the increasing confidence in Italian banks as the long-discussed
mergers and acquisitions finally take place, and what is currently a highly fragmented market, begins to see some
rationalisation.



Figure 1
Portfolio Movements

Country                 Sep 06          Mar 06
                             %               %
Russia                    21.9            15.8
France                    19.9            10.5
Brazil                    11.3             9.5
Poland                    11.2            12.1
Austria                    7.5            10.4
Spain                      5.7             6.0
Norway                     4.9             4.9
Eire                       4.6             4.9
Greece                     3.9             4.8
Italy                      3.0             0.0
Turkey                     2.4             8.3
Denmark                    2.0             2.2
Switzerland                1.7             3.0
Mexico                     0.0             4.8
Germany                    0.0             2.8



Warrants
The bid price of our Warrant units fell by 25% to 960p over the six months to 30th September 2006. Over the full year
the Warrant units' bid price has increased by 71%.

Following the 10 for 1 share split in August 2006, each warrant unit now entitles the holder to subscribe for 10
Ordinary Shares at an exercise price of 10 pence each.

The warrants remain valid until 2010.


Gearing
At the half year end our gearing stood at 47.4% of NAV. This is achieved by a bank loan, the purpose of which is to fund
investments in the expectation that the returns from these will exceed the cost of the loan.


Dividend
Income from investments has again increased this year - it is up approximately 50% on last year's interim period - and
despite an increase in costs, the revenue per share is up 35%.  However, most of our dividend income is received in the
first half of the year and we will receive much less in the second half, in which our costs are likely to exceed our
income. With this in mind, the Directors have decided not to declare an interim dividend and it is unlikely that there
will be sufficient revenue to declare a final dividend.


Blue Planet Services and Price Information Sources
Shareholders can view the Company's share price and additional information about the Fund on the website of Blue Planet
Investment Management Ltd (www.blueplanet.eu.com) and the London Stock Exchange (www.londonstockexchange.com). To find
the Company's share price on the London Stock Exchange website go to the Home page and type "BPFU" in the "Price Search"
field. Our share price is also published in the Financial Times. A 10 for 1 share split was carried out in August 2006.
The home page of the Blue Planet Investment Management Ltd website has a link with investor information on the 10 for 1
stock split, including answers to a number of frequently asked questions.

Independent Rating of the Fund
Trustnet is an independent company providing factual, unbiased assessments of the performance of funds to private
investors and Independent Financial Advisers. The excellent performance of the Fund has led Trustnet to rate your
Company 1st out of 30 funds for share price and 1st out of 28 funds for NAV performance over one year in the sector for
Equity Growth & Income conventional trusts.

The tables below highlight the 1, 3 and 5 year rankings by Trustnet against all the Equity Growth & Income investment
trusts.

Table: Blue Planet Financials Growth & Income Investment Trust plc rankings against other Equity Growth & Income
Conventional Investment Trusts

                 Share Price Performance                       NAV Performance

                         Number     Percentile                     Number     Percentile
             Rank     of Trusts    Performance       Rank       of Trusts    Performance

1 year          1            30           3.3%          1              28           3.6%
3 year          5            28          17.9%          1              26           3.8%
5 year         10            26          38.5%          6              24          25.0%

Source: www.trustnet.com data as of 30 September 2006.

Outlook
Your Company has an excellent portfolio of high quality banking stocks. We are positive about the future prospects for
the banks and other financial businesses in which we are invested and we are confident, that with our award winning
investment team, that the future performance of your Fund is in the best possible hands.

In July 2006 The Banker magazine reported that the top 1,000 banks worldwide had reported an average increase of profits
in 2005 of 18.6% and a record return on capital of 22.7%. Their survey shows that annual growth is slowing in percentage
terms - which is to be expected as the growth is now from a higher base. We believe that the banking sector will
continue to benefit from a sustained growth in revenues. Retail banking, in particular in certain emerging markets, is
seeing a huge increase in demand. Further consolidation and efficiency gains can be expected as cross-border
acquisitions accelerate in pace. In Europe mergers and acquisitions were up 20% in 2005, with deals totalling Euro
126bn, 73% of which was cross-border deals. In addition technological advances will add to the efficiency gains to be
achieved.  We believe that there are many banks that remain undervalued by the market. These will provide your Company
with excellent investment opportunities.
We believe that our approach of specialising in only the financial sector and running a relatively concentrated
portfolio of well researched stocks is set to continue to deliver good returns for shareholders, and we look forward to
the future with confidence.

I would like to thank all shareholders for their continuing support.




Victoria Killay
Chairman
30 November 2006





Balance Sheet (Unaudited)
                              At 30 September      At 30 September         At 31 March
                                         2006                 2005                2006
                                           (£)                  (£)                 (£)

Fixed assets

Equity investments                  5,642,251            4,003,130           5,780,791

Current assets                        108,576               37,513             122,085

Creditors: amounts
falling due within one year           (33,022)             (18,195)            (75,636)

Net current assets                     75,554               19,318              46,449

Total assets less
current liabilities                 5,717,805            4,022,448           5,827,240

Creditors: amounts falling due
after more than one year (note 5)  (1,904,153)          (1,078,000)         (1,923,129)

Net assets                          3,813,652            2,944,448           3,904,111

Capital and reserves

Called-up share capital               136,226              135,850             135,850

Share premium account               1,175,092            1,169,502           1,170,956

Other reserves

Capital reserve - realised          1,073,496              341,521             906,475

Capital reserve - unrealised        1,299,081            1,177,271           1,602,768

Capital redemption reserve              8,450                8,450               8,450

Warrant reserve                        60,810               63,374              61,920

Revenue reserve                        60,497               48,480              17,692

Equity shareholders' funds          3,813,652            2,944,448           3,904,111

Net asset value per
ordinary share - basic (note 4)        28.00p               21.69p              28.76p

Net asset value per
ordinary share - diluted (note 4)      25.15p               19.81p              25.74p


Comparative per share data has been adjusted to reflect the 10 for 1 share split approved by shareholders on 2 August
2006.



Income Statement (Unaudited)
         For the six months ended          For the six months ended                      For the year
                30 September 2006                 30 September 2005               ended 31 March 2006
 Revenue     Capital        Total  Revenue     Capital        Total  Revenue     Capital        Total
      (£)         (£)          (£)      (£)         (£)          (£)      (£)         (£)          (£)

Realised gains / (losses) on investments
       -     293,367      293,367        -      93,931       93,931        -     691,532      691,532

Unrealised (losses) / gains on investments
       -    (321,791)    (321,791)       -     685,671      685,671        -   1,129,272    1,129,272

Currency exchange (losses) / gains
       -     (59,773)     (59,773)       -      (6,059)      (6,059)       -     (28,264)    (28,264)

Income from investments
 123,063           -      123,063   82,513           -       82,513   94,980           -      94,980

Bank interest receivable
   3,353           -        3,353      590           -          590    1,705           -       1,705

Administrative expenses
 (42,879)    (23,269)     (66,148) (25,949)    (10,024)     (35,973) (55,356)    (23,997)    (79,353)

Net return before finance costs and taxation
  83,537    (111,466)     (27,929)  57,154     763,519      820,673   41,329   1,768,543   1,809,872

Interest payable
 (25,200)    (25,200)     (50,400) (13,868)    (13,868)     (27,736) (28,442)    (28,441)    (56,883)

Return on ordinary activities before taxation
  58,337    (136,666)     (78,329)  43,286     749,651      792,937   12,887   1,740,102   1,752,989

Taxation on ordinary activities (note 3)
 (16,260)          -      (16,260) (11,536)          -      (11,536) (11,925)          -     (11,925)

Return on ordinary activities after taxation
  42,077    (136,666)     (94,589)  31,750     749,651      781,401      962   1,740,102   1,741,064

Return per ordinary share - basic (note 4)
   0.31p      (1.01p)      (0.70p)   0.23p       5.54p        5.77p    0.01p      12.83p      12.84p

Return per ordinary share - diluted (note 4)
   0.29p      (0.93p)      (0.64p)   0.23p       5.37p        5.60p    0.01p      12.10p      12.11p

The Total column of the income statement represents the profit & loss account of the Company.
All revenue and capital items in the above statement derive from continuing operations.
There were no recognised gains and losses other than those disclosed above. Accordingly a statement of total recognised
gains and losses is not required.
Comparative per share data has been adjusted to reflect the 10 for 1 share split approved by shareholders on 2 August
2006.


Cash Flow Statement (Unaudited)
                            For the six months   For the six months         For the year
                                         ended                ended                ended
                             30 September 2006    30 September 2005        31 March 2006
                                            (£)                  (£)                  (£)
Operating activities
Investment income received             110,657               79,513               90,859
Interest received                        3,340                  590                1,705
Investment management
and administration fees paid           (32,550)             (19,907)             (46,078)
Cash paid to and on behalf of directors (2,620)              (1,014)              (2,700)
Other cash payments                    (20,621)             (15,655)             (25,756)

Net cash inflow from
operating activities                    58,206               43,527               18,030

Servicing of finance
Interest paid                          (50,293)             (25,917)             (56,583)

Taxation
Taxation recovered                       2,571                  438                1,679

Capital expenditure and financial investment
Purchase of investments             (1,820,568)          (1,131,059)          (3,604,477)
Sale of investments                  1,873,514              695,182            2,489,311

Equity dividend paid                         -              (16,895)             (16,895)

Management of liquid resources
Cash placed on deposit                (376,685)                   -             (315,471)
Cash withdrawn from deposit            341,747                    -              314,181

Financing
Net proceeds from share issue (note 4)   4,130                6,110                6,110
Additional loan                              -              318,535            1,144,860

Increase / (decrease) in cash           32,622             (110,079)             (19,255)




Notes

1. The financial statements for the six months to 30 September 2006 have been prepared on the basis of the accounting
policies set out in the Company's Annual Reports and Accounts as at 31 March 2006.

2. All expenses are charged to the revenue account with the exception of management fees and interest charges on
borrowings, one half of which less the appropriate tax relief is charged to capital.  The Directors reviewed the terms
of the Investment Management agreement in March 2006 and increased the annual fee from 1.00% of total assets to 1.50%
with effect from 1 April 2006.

3. The taxation charge arises wholly from overseas withholding tax on investment income.

4. The return per ordinary share is based upon the following figures:

                                          30 Sept 2006     30 Sept 2005      31 Mar 2006

Revenue return                                 £42,077          £31,750             £962
Capital return                               (£136,666)        £749,651       £1,740,102
Weighted average number of ordinary shares
in issue during the period - basic          13,592,151       13,542,890       13,559,850
Weighted average number of ordinary shares
in issue during the period - diluted        14,622,494       13,952,920       14,381,850

At the Annual General Meeting on 2 August 2006 shareholders approved the subdivision of the Companies ordinary shares by
way of a ten for one share split such that the 1,362,260 existing ordinary shares of 10p each were divided into
13,622,600 new ordinary shares of 1p each.  Comparative per share data in this interim report has been adjusted to
reflect this split.

At 1 April 2006 the Company had 260,170 warrants in issue.  On 31 July 2006 4,580 warrants were exercised leaving
255,590 warrants in issue.

On 31 July 2006 the Company issued 820 ordinary shares out of its treasury shares holding of 820 to partially satisfy
the exercise of warrants.  £728 being the cost of the shares has been credited to revenue reserves and £92 to share
premium account.  At 30 September 2006 the Company held no treasury shares.

After the approval of the subdivision on 2 August 2006, each warrant now confers the right, exercisable normally on 31
July in any of the years from 2007 to 2010 inclusive, to subscribe for ten new ordinary shares at a price of 10p per
share.  The net asset value per ordinary share is calculated on the 13,622,600 ordinary shares in issue at the end of
the period.  Net asset dilution arises from the potential exercise of outstanding warrants and is assumed only to take
place if the net asset value per share exceeds the exercise price of £0.10.

5. The sterling loans are subject to a covenant which sets a maximum gearing threshold.  Details of the loans
outstanding at 30 September 2006 were as follows:

                                    Amount (£)      Interest Rate (%)    Repayment Date

Sterling loan                         750,000                   5.99    23 January 2012
Sterling loan                       1,154,153                   5.40    23 January 2012


6. At 30 September 2006 the Company had authority to buy back 203,000 of its own shares in accordance with the authority
granted at the Annual General Meeting on 2 August 2006.  No shares were bought back during the period under review.

7. The figures and financial information for the year ended 31 March 2006 are extracted from the latest published
accounts of the Company and do not constitute statutory accounts for the period as defined in section 240 of the
Companies Act 1985.  Those accounts have been delivered to the Registrar of Companies and include the report of the
auditors which was unqualified and did not contain a statement either under section 237(2) or 237(3) of the Companies
Act 1985.


Portfolio Information
At 30 September 2006                                   Valuation (£) % of portfolio

                 Equities

       1,073     Sberbank RF                              1,237,846            21.9
      23,907     Credit Agricole SA                         560,368             9.9
       7,436     Raiffeisen International Bank Holding      422,780             7.5
      34,392     Banco Nossa Caixa SA                       358,972             6.4
      26,012     Banco Bilbao Vizcaya Argentaria            321,316             5.7
       3,351     Societe Generale                           282,762             5.0
       4,859     BNP Paribas SA                             278,894             5.0
      41,991     DNB NOR ASA                                273,936             4.9
      16,467     Banco Bradesco SA                          273,790             4.9
     237,700     Bank Millennium SA                         259,322             4.6
       4,085     Blue Planet Global Financials Fund         259,002             4.6
       1,590     Bank Przemyslowo-Handlowy BPH              218,726             3.9
      13,655     Piraeus Bank SA                            188,546             3.3
      48,715     Banca Intesa SPA                           170,800             3.0
       4,567     Bank Pekao SA                              151,886             2.7
     141,750     Turkiye Sinai Kalkinma Bankasi             137,035             2.4
       3,341     Amagerbanken A/S                           113,888             2.0
       2,989     UBS AG                                      94,591             1.7
       4,133     Hellenic Exchanges SA                       34,968             0.6
          64     Bank Zachodni WBK SA                         2,095               -
         421     Central Cooperative Bank AD                    728               -

                 Total                                    5,642,251           100.0

Geographical Regions

                 Russia                                   1,237,846            21.9
                 France                                   1,122,024            19.9
                 Brazil                                     632,762            11.3
                 Poland                                     632,029            11.2
                 Austria                                    422,780             7.5
                 Spain                                      321,316             5.7
                 Norway                                     273,936             4.9
                 Eire                                       259,002             4.6
                 Greece                                     223,514             3.9
                 Italy                                      170,800             3.0
                 Turkey                                     137,035             2.4
                 Denmark                                    113,888             2.0
                 Switzerland                                 94,591             1.7
                 Bulgaria                                       728               -

                 Total                                    5,642,251           100.0

For more information, please visit www.blueplanet.eu.com.
You can also contact the Company on 0131 466 6666 or by emailing [e-mail].

END